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<br /> �57����
<br /> '!ne Funds shall be held in nn insdtutian whose deposits ure ins�rcd by u fc�ieral u��y`�instruntcntality,or entily
<br /> (including l.ender,if I.cnder is s�+ch nn insiitwlon)or In imy Federc+l Honx Loan Hnnk. I.cixicr shull upply the Fundy�n pay �hc
<br /> Escrow Itenn. Lx�xler may not charge F3�►rn►K•er li�r holJing uixl upplying the Fu��ls,unnuall�r uiwlyzing �he eM;row acuunt. or
<br /> verlfying the�scraw Ite�ux,anless I.e�tder puys f3arrower interest on the}�u��cis ur�d u licable I�w permitx I.e��,lcr tu uu�ko�uch
<br /> a chargc, Hawevcr, I.cixlcr m•ry r��ulru l'nrmwcr to pay u one-tlnu churgc lirr un I�epcndcm rcal c�uue tax r�pnrdnK nervicc
<br /> uscci hy I.e�xter In comiectlan will� Ihis liian, unless uppNcahle luw pravlde� �Nhrrwite. Unless on ugrc�enxnt Is mude ur
<br /> uppllcublc lew �tyuires intcrc+t tn Ix��id,l_cixicr sbull nut hc reyufr�Yl tu puy Hurruw�cr uny inlerc.rt�►r e�ntings un�hc I�urKiv.
<br /> fi�►rn►wrr unJ I�i�tcr rouy ugrec in wriling. Ix�wcvcr,thut intcrrxl nftull tx�puid nn Ih�I�uixlti. I.erKkr�h�ll glvc ta I��rn�wcr,
<br /> witho�u clurrve. :m :umiu�l nrr�arotlr�E+.�►t'ih��I'ui�d�, +h�►wim! rr�tilltv mhl dehtty �a the• f�uihl, ��i�d �he rnr�►�e lirr wlif.�h riK�h
<br /> Jchlt t��Iho Fui�ls w�r•nwJc. 'I'hc Fuixlti �ire plcdgttl u�uddi��unul�ccuri�y fur u!I aums ucurcYl hy ihi.tir��urily In+lruuxrn,
<br /> 11'�hc {�urxlr held hy lx�xlrr excaYl thc uuunmts perrolttMl�o tx�hclel hy uppIicuMe low, Ix�xlcr nhull u�ruunt tn H�►rrnwcr
<br /> fi►r tlie exc�sv flwxl�In ucc��rcluixe wlth thc rcqulrenxnts of uppHcuble 1uw, IP��te imH►s+nl uf thc I�u�xl� held hy 1.4�xler nt uny
<br /> 11111C I5 IN)1 l�UI�I�CIL`III(0 riAy If1C ErKCnW I(CII15 WIICII IIUC, Lerxlor nwy so�K�tlfy 13orrnwer in wrUing,uixl, in tiuch cure Kurmwer
<br /> +hHll puy tu I.e�xkr the bnx�unt i�escury to maka up�ho deficfciwy. Harrower tihull nu�ke up the dclicitiwy In no nxirc thun
<br /> �welvQ munthly puYnxmti.u�l.cnder's salc diurction.
<br /> lJ�m puynxnt In full uf ull sums sn;urcd by thix Sccurity Inrtrument, l.ender shall pr�►mpNy rrfwxl to Fic►rmwcr any
<br /> I�tmd�; helJ by l.encl�r,!f, uraier purHgr��ph 21,L.cixl�r shall ucquire��r sell tl�t�Ntoprrty,Le��cr. Prior�u the acquitiition or u�le
<br /> uf Ihu f'n�peny. shull opply uny I�u�xls held by C.eixlcr ut the time of ncquisitim�or sulo us n credit agciin�t tl�e sums ucun:d by
<br /> ihin Su.:urity Intitrunxnt.
<br /> 3. Applkntlon otP�yments.Unlass appllesble law provides otherwlse,uU payntcntc receivc�f hy Le�xler under p�ragn�phs
<br /> I mtd 2 shall be upplled: fir�t, ta any prepayuxnt churges due uixler the Note; second, to am��unts pay,�ble under puragraph 2;
<br /> tliird,u�interest du�;fourth,to principal duc;and last,to any late charges due uncicr thc Note.
<br /> 4. Charges;Lia�. Bornawcr shaU pay ull taxes,ussessmcnts, charges, fincs u�xl impositic>ns uttributublc tu the Property
<br /> whicl� !nay attein priurity over this Security InstaUnzei�t, and Icaschold paymcnts or ground mnts, if any, E3c�rma�er shall pay
<br /> those ubligations in thc manncR provided in parasraph 2,or if not paid in that manner. I3orruwer shull pay theui on tinx directly
<br /> tci ttta per��n owcd payment. Borrower shall promptly furnisti to Lender all notices of umounts to l+c paid under this paragmph.
<br /> If Bcttro�var makes thcsc payments directly,Borrowcr shull promptty fumi�h to Lender reccipts cvidcncin�the paymenis.
<br /> Burrower shall prompdy discharge any licn which hus priority over this Security Instrument unless Borrowcr: (a)agrecs in
<br /> writinp to the payment of the abligatiai secared by the lien in a munner acceptable to Lender,(b)wntests in goad faith the lien
<br /> by, on defends ugaiast enforcement af the lien in, lcgttl proceedings which in the [.ender's opinion operate to prevent the
<br /> enfo�urnent of the lien;or(c)secures from the holder of the lien un agrcement satisfnctory to I.ender subnrdinating thc lien to
<br /> this SeYCUrity Instru�nent. �f Lencler deterniines thut any part�f the Property is subject to a lien which may attain priority ovcr
<br /> thf�Sr:curity Instrument, [.ender may givc Barrower u notice identifying thc lien. Borrower shall sntisfy the licn or takc one or
<br /> mare�f the actions�et foi�th abo��e within IU days of the giving of notice.
<br /> S. HAZprd or Property Insurrnce. Borrower shall keep the improvements now existing or hereafter erected on the
<br /> Proporty insured against loss by �re, ha�ards included within the term "extended coverage" arxi any othcr hazards,including
<br /> i1.v,.I�, ..n.�.,,�: ►:..,..t.:�b �..,.io ri.: ..�...0 w_ ..a .a.. »a e.. .4, _.+_ _
<br /> a �1 ��i�vo i����w��w n ��nY1H�tVV iIM�• iiiW�����W������Y�\t��VYt�W YlM/!V� tlN lJ411Wi
<br /> .���«�� r�..v�.r���� ��. ..�����. �..�i�uri i� � •���J��lJ �] \Yr ���
<br /> D `tu..�......��..«..w.
<br /> tltnt Lr.nder ceyuirec.The insurance carner pmvidin�the insurance shal! be chosen by Borrower subject to Lender's approvnl
<br /> whir,li,shali not be unrcasonably withheld, If Bonower fnils to maintain coverage described ntxrve. [.ender may, at I.cnder's
<br /> optinn. obtain caverf►ge to protect Lender's rights in the Pr�peny in accordance with parngraph 7.
<br /> All insurance policies and renewals shall be acceptable to Lender and shall include u standatd manguge cl�usc. i,eixler
<br /> shtill�tiAVe thc risht to hold the policies and renewals. If Lender requires, Borrorver shall promptly give to Lender all rcceipts of
<br /> ppid premiums and renewal notices.In the event of loss.Borrower shall give prampt notice to the insurancc carder and Lender.
<br /> Ltndur may make proof of loss if noi madc promptly by Borrowcr. �
<br /> Unless Lender and Borrowcr otherwisc agrcc in writing, insurnncc proceeds shall be upplial to restoration or repair of the
<br /> Pcnpe�ty dnmagod,if the restoration ar repair is�conomically feasible and Lencter'S sccurity is not lessened.If the restoration or
<br /> mpnir is rwt economically feasible or Lender's security would be Iessened,the insumnce proceeds shull be applitd to the surns
<br /> securcd by this Sccurity Instrumcnt, whether or not then duc, with any exces.s paid to Borrower. If Borrower ub�lons the
<br /> P►uperty,or dc�es not ans�vcr within 30 dnys a notice from l,cnder thut the insurance carricr has offered to settle a claim,then
<br /> Lendar may collect the insur.�uue proceecls. Lender may use the proceeds to repair or mstore the Propeny ot to pay sums
<br /> sacurcd by t'his Security Instniment,�vhether ar not then due.The 30-ciay period will brgin when the notice is given.
<br /> Unless Le�tder and Borrower otherwise abrce in writing, any upplication of procceds to principal shall not crtcnd or
<br /> postpone thc due date of the monthly payments refcncd to in paragraphs ! nnd 2 or change the amount of the�ayments. If
<br /> under paragreph 21 thc�roperty is acquin;d by Lender, Borrowcr's right to xny insurance policies and proceeds resulting from
<br /> demag�to the Property prlor ta the rcquisition shull pass to L,ender to the extent of the sums secured by this Security Instrument
<br /> immcdiatcly prior to thc acquisition.
<br /> 6. Occup�ncy, Prcscrvatlon,MAinicnAnce und ProtecNon of the Propeny; Borrorr•er's Loan Applicxtion;Leaseholds.
<br /> Barmwer shall occupy,establish,and use the Property us Borrower's principal residence within sixty days after the exaution af
<br /> tltis Security Instrument s�nd shall continue to occupy the Property as Bonower's principal residence for at Ie:�t one year after
<br /> tha date of occupancy,unless Lerxler othenvise agrees in writing, which consent shall nat be unreasonahly withheld,or unless
<br />. extenuating circumstnnces exist which ut�e bcyond 8orrowcr's control. Borrower shall nat destroy, damage or impair the
<br />' Property, allow the Property to deterioratc, or cammit wa�te on the Property. Bormwer shall bc in default if ar�y forfeitur�
<br />, xtion or proceeding,whether civil or criminal, is be;gun that in LenJer's good faith judgmcnt could result in forfeiture af tne
<br /> Property or otherwise materiully impair the lien created by this Sccurity Instrument or Lencier's scxurity interest. Borrower may
<br /> • cure such�,default and reinstate,us provided in paragrnph 18,by causing the action or prixeeding to bc dismissed with a ruling
<br /> thut, in Lendcr's goad faith determination, prccludcs forfciturc of tl�e Borrowcr's interest in tho Property or othcr material
<br />" impairment of thc lien created by this Sa;uriry Instrument or [.cnder's sccurity interest. Borrou�er shal!alsn be in defnult if
<br />' Bnrrower,during the loan applicatinn pmcess,gave materially false ar inaccurate infvrmation or stntements to Lender(or fnilod
<br />. tn providc Lcndcr with any materia! informationl in conncction with thc loan evidenoed by the Note. including,but not limited
<br />' to, rcpresentations concerning Borm�ver's occupancy uf tl�e Property a.r•:i principal residencr. (f this Security Insttument is on a
<br />� leaseh�ld, 8orrower shall comply with all thc provisions of thc Icasa If Borrox•cr acyuin�s fcc tide to thc property, thc
<br />� IcASChold and thc fce title shall not mcrge unlc�s C,cndcr agrocs to ihc mcrgcr in writing.
<br />� 7. Proteetion of Lender's Rlghts in the Prc►peMy.If Borruwer fails to perform die covenants and agrecments containcd in
<br />� this Security instrument, or there is u legal proreecling that may sig��ificantly affect I.ender's riglits in the Property (such as a
<br />� procccding in bankruptcy. probatc, for condcmnation or foric�turc or to cnforcc luws��r rcgtAatii�nr), tl�rn l.cndcr may do ae�
<br />' Qay for whatever is naessary to,�rotect Uie value of the Property .uid Lender's rigb.tti m the I�ro�x:rty. I.ender's uctions m�y
<br />- mc�ude paying uny sums ,ec+,rea oy a iien wnicn nas prionry over mis iecuriry tnsttvntent, appet�rtng �n court, pay�ng
<br /> . rcasunablc attorncys' fcc� and cntcring on thc Propert��to makc repairs. Although L�ndcr may takc artion undcr this par.�gr:iph
<br /> ?,L.�nder docs nut havc ta du su.
<br />� Any amounts disbursal by L�:ndcr undcr this paragraph 7 �hitll Nccinnc adJitiun:d dcbt ot' 8urrowcr sxrur�d by this
<br /> Security Instrument. Unless Borrower:md Lender agree to other ternn of pay�ntent, tltesc umuunts�h,tll hcar interesl Front the
<br /> datc of disburscmcnt at thc Notc rutc and �hall bc payablc, with intcrc�t, upon notirc from l.cndcr tr li�irrowcr rcqucsting
<br /> paymcnt.
<br /> 8. 111ortqage Insura�xe. If C.endcr requircd mortgage imur.mcc ns a conditiun uf makin�U�r luan srrured by this Srcuriry
<br /> [nstrurr�cnt, Rnrrnwrr ch,�ll p,iy thc prcmium�r�•quircd ti� nuiinuiin thc ntortgagc in�uranrc in rtTcct. fl'. Ii�r :my r4i.�m, thc ,
<br /> mortgagc insurance cover.i k�c reyuired by l.rnder Inpses ur ccaseti to be in effcct, Borrna•er shall pay the premiums required to
<br /> obtnin covcrage substantiully equivalent to thc mongagc insuranrc prcviously in cffcct, at u co�t subtit.�ntially cyuivalnu tn thc
<br /> , coat tu [��rrowcr of thc mortgagc insurancc prc�iously in cffcct, from an alternatc martgugc insurcr approvcd by Lendcr. If
<br /> 7ago 7.ul 4 Form 3026 9l90
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