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<br /> 'Rie Funds �hall be hetd ia aa instituGon whose deposits are insured by a federal agency. instn►mentalitY. or ennty
<br /> '• "4�;;;>_:`:` (including(,ender,if Lender is such an institutionl ar in anY Federal Home Loan 8ank.Lender shal!appiy the Fnnds to pay the .t .
<br /> Escraw items.L e n der may rt o t c h a r ge Borrawer for hotding aad applying the Funds.ai`nu b ye ianatyz�its l.en d t m a k c s uch '��.�'�4.:
<br /> :.. � � veri f ying t he E s c r ow items.un2ess l,e.�eBor osi Ber to wa a o�time�charSe or an in epe n dent rea l es t a t e t a x r e p ortin g service -�
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<br /> • .. . a charge. Howevet.I.ender may req P y li c a b l e law pruvides otherw�ise. Unless an agreement �s made or ,
<br /> , : "�.�..�' ; �sed by ixnder in connection wilh this loan. u n tess app Born�wer an iaterest or eaming,s on the Funds. �,'
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<br /> . � appiicablc law requi�es intecest to be paEd.l.ender shall not be required to paY. Y >--
<br /> �"'� �� • Borrower and ixrtder may a�ce�'��g•k°wever.that interest shall be pa�d on the Funds. l.endcr shal oS�ivf fo h�ch Weach �'�:-.•-
<br /> without charge.an annu�!accauntu►S of the Funds.showin$credits and debits ta the �unds and the purp ' �`
<br /> N debit to�e Funds heId b�1.eader exuceed the ain°w►u pe�tlted to be hetd by p'plicable I�aw dLender shal��count t��uer ``�
<br /> ' If th 9 �� f
<br /> ��-`"4 for the exoess Funds in aceordance with i1►e requi�emenu of appticable law. If���t Wn�he Fun�ds hA�ch case Barrower :.'
<br /> � '�^" time is not sufficient to pay the Escrow ItE o m���defecienejrs Bonower shall make up 1 e drficiency in no more than �� ,,:::
<br /> .. shaU pay to Lender the amount neves.sarY P �=,�'=-_
<br /> . � ' • � `� tweive monthlY PaYments.at Lender s sote discretion. ��`'`
<br /> ,. '.`,.,, �..>.• ZJpon paymeat m full af all sums secured by this Security Instrument. Lender�fiall promptty refund to Borrower any �':��-_;.
<br /> �. Funds held by Lender.If,under paragtaph 21.Lender shall acquir.or sell the Property.i.ender,pnor to the acquisition or sate
<br /> �` of We Propecty.sbail aPPiY a°y Funds hetd by Lender at the rime of acquisidon or sate as a cr+edit against the swns secured by �
<br /> �, <i::�< this Security Insnumeat. licable law provides otherwise,all paymenis.received by l.atder•�P�� �°�`
<br /> - • • 3.Applicattnn of FaYments.Unless app alile tindecparaB�aPh�2; � �
<br /> � 1 and 2 shall be agplied:6rst,w anY P�Y�����due under the Note:.secand,to asnoums pay . ..,: :,,
<br /> .� es due ander the Note. . . _--
<br /> ,�:, •` third.to intecest due•fourth.to principal due;and tast,to anY�ate d�a� fines and im sitions atfributablq ta the PropertY __°--
<br /> . ` 4,�harges;Liens.Borrower s h a l l pay u i l taxes,ass e s s m enu.c.h a r g e s. P° _=__r
<br /> - �'.�•5 wtuch may attain prioriry over this Security Instnunent, and leasehold paymentt or ground renu. if any. Bornower shal{ l�y —
<br /> . th�e obLigatioris tn the manner pcovided in paragr.►ph 2.or if not paid in that manner.Bor�c►wer shall pay.them on time di�ectlY
<br /> .`' ".r `',. ', `' ro the petson awed payment.Borro�er shall prompdy furnish to l.eader all notices of amauac�c to be paid•uader this p�aragraph- � ..Y
<br /> �:'::`� ` m�►ts direcdy.Bor�oaer sha11 prompdy fumish to Leader receipu evidene�ng ihe pay�. __
<br /> � If 8orm�ver makes tl�ese paY
<br />- � Bornower sha11 pmmptfiy discharge any lien which has prionty over this Security instrament vniess Bbriawer:t�)'a8�� �
<br /> ` =°:�r•.-`�'�r•:('-� writing to the paynsent of the obligation secured by t6e lien in a manc►er accePtable to I.ender:(b)contests in good faith t1►e iten —
<br /> , , ti� `� by, or defends against enfo�ement of the lien in, legal prnc�edinSs which in the Lender s apinion uPcrate �°:A?�Y�t �e
<br /> ' enfar+ce�ent of the lien;or(c)secures from the halder of the lien an agreement satisfactory to Lender subordi�racing�tlle:iien to —
<br /> ' ts sub'ect to a tien which may aUain PriomY over __...
<br /> � • this Security Instnunens.If I.ender determines that any pan of the�Prapeity' J ua
<br /> ., �.• '�".,.�i�'.:; �his Security Instrument.i.ender may.give Borrower a notice identifying the lien.Borrower shall sarisfy the lien or t4keone or � _
<br /> " �• more of the actiflns set forth above within t0 days of the giviag of notice. �_
<br />. - _..... �.:��, 5. Har.ard or Froperty Iasurance. Sorrower shall keep the improvem�►ts now existing or h��eaftehr�erestedincludi g = -
<br /> - --- Property insured against loss by fim,h a z a r d s inciuded within the term"extcuded covemge" and any �.�
<br /> '�'.�:'.. r.,:...•� IIoods or ftooding.for which Lender�equires insurance-This insurance shall be maintained ta the amounts and for�e P roval --
<br /> ti�at Le�er requires.l9ie'insurance carrier Pmviding the iru-urance shall be chosen by.Sori+ower sublect to Lender's app __
<br /> `�� which slratt not 6e unreasonably �vithheld. If Borrower fails to maintain coverage desenb�d above, Lender may. at Lender's
<br /> '.'` '�`;t� �n rdance with paraSraph 7. �=.
<br /> aption,obtain coveiage w protect l.ender s rights in the PropertS+' acca a e clause.Lender
<br /> Ali insurance policies and renewals shall be acceptable to I.ender and shall include a standar�'Ia M8�Sder all receipts of
<br /> ` '.<�,�'.! � sha►1 E�i-e the right tu hold the policies and renewals.If Lender requires.Barrowc�'shall promptly giv�tq�
<br /> � " ' p�a gn,,�i�ms and rpnewal norices.In the evept of loss.Borrower shall give prompt notico ta the msurance.C��`�a�nder. ___
<br /> ' . Lender may maice pr�of of loss if not made promQtly by Borcower. .��,'�"�""`, • •�'`�"�`�' of the --
<br /> • � .� t UN�s Lender and Borrower atherwise agree in writing.insurance procceds s1�all be applied to re5to tio�a�'"�r_ ---_
<br /> ' .•� ' �f the restoration or cepair'ss ecoaomie�1ly feasible aad L�d�Ps_securlty ix riot t��Tf the restoraUan or�
<br /> pr�F�rty aacnagecl.' s s Iced to the sums
<br /> '..�� tepair is not economically feasible or Lender's security wauld be lessenod.the insurancC prp�l...�t bGapp' _
<br /> �. . ��.�'*;;::�-� , secured by this Securit3+ Instrume�t• whethec or not then due. with any excess paid to�or�aw,er;�;if•�atrower abandons the —
<br /> . property.or daes not answer within 30 days a notice from Lender that the insurance aurler hav'pff�.�s��or�� am�sums
<br /> �.��.,:, �;�;;,�;.• ,, � Lender may coltect the insurance proceeds. Lender may use the proceeds to repair or cescoxe tke Ptop?.rtY; P Y
<br /> �:;;}r' : P. secured by th�s Security Insuument.wh�her or not then due.The 3Q-day periad wili begin when the nouce is give�.
<br /> • `� Unless Lender and Borrower otherwise agree in writing. eny apDl�cation of proceeds to principal shall not extend os
<br /> ". , ��,� postpone.the due date of the monthly paymenu refesed to in paragaphs t and 2 or change the amoa�n�c�of the payments. If
<br /> � `'�� '"�s under parqgraph 21 the Property is acyuired by Lender. Borrower's right to any insurunce policies ar►d pmceeds resulting t'rom
<br /> � � -_��°;� damage to the 1'caperty prior to the acqwsiaon shall pass to Lender to the extent of the sums secured by this Secunty Instrumcnt
<br /> � �r,�•,,:�,,;��� . immeAiately prior to the acquuition.
<br /> . J�'�.,��+r;: . :t°
<br /> � 6,Q�upaney,preservatIon,Maintenance and Protectton of the PcapertY+,BorroHes's Loan Appficat�on;I.easeholds.
<br /> • ',..'�. �° . Borrower shall occupy.establish.and use the Property as Borrower'A p��o et s�dnne�i al re�identycedf r tf leeast one year aftec
<br /> , . t h is S e c urity Instniment and shall continue to accupY the Property P P .
<br /> • .' � the date of accopancy.unless Lender otherwise agrees in writing.which consent shaU not be unreasonably withheld.or nnless
<br /> extenuating circumstances exist n�hich are beyond Barrower's conuol. Borrawer shall not destroy. damagc or impair the
<br /> -- �.�'�i;`��, praperty. allow the Properry to deteriorate. ar commit waste on the Property Borrower shsill be in default if any forfeitore
<br /> s
<br /> .. . .�;�'{k1 ,. —
<br /> •.;�Y�� acKion or roceeding.whether civil or criminal.is begun that in Lender s gaod faith judgment could result in forfeiture of the
<br /> - ••'r;;�' � ��.' Property or otherwise materially impair the lien created by this Secutiry/nstrument or l.ender's security interest.8orrower may -_
<br /> ;.,••t,�,"'..;,,,:�� cure such a defau�t and reinstate,as provided in Qaragraph 18.by catuing the aMion or proc�ing to be dism�sos o�ith�1e�n�S� - _
<br /> 1,:�:��:;,j .�• that. in l.ender's good faitb deterniination. precludes forfeiture of the Borrower's interest in the Property
<br /> > � impai:i�nt of the ti�n crcatcdib��o is��ga e�inatenalib►.false ot inaocwrate iqformation o stat hents to Lender(os failed
<br /> :,�'�14�;�• ' _
<br /> ��i,'���t;; � � Bc�e!a��r,dusin$the 1oan aPP P _
<br /> � • t�o y-�:�=a:�Lender R:th anY materiaf iaformation)in conneciion with the loa»evidenced by the Note.i�luding.6ut not limited
<br /> to,r,resenwtiaas a�cerning Borrower s ocxupancy of the Property as a principal residence.If thia S�curicy Instrument is an a `
<br /> � ���`��''':�,` leaseyold. Borrausz shall wmply with all the provisions of the tease. If Borrower acquires fao titlu to the Property, the Y
<br /> � '� leasehofd and the fae aitle shall not merge unless l,ender a�rees to the merger in writing• —
<br /> ��� ' � 9.Qirotectios�oY Lender'g Rig6ts io the Pt+opPrty�f Burro+ver faits to perform the uovenants and agreements contained in �,:;
<br /> _.,t•.:��;?•,;+�.': `` ,
<br /> ;,�;,;�;,`. ... ..`.� this 5c+.�uriry�b t��ptcy�probateysfor mndemnation ot forf�ture or�t�enforce I ws�rregulat�ns).chen LenQer n,ay do and �'f�
<br /> �,<°°
<br /> i�� S sind Lender s ri ts in the Praperty. Lender's actions may
<br /> � Qay for whatever is s�ecessary to protect the vaiue of the PropeKy+ n Sh
<br /> �nclttde pa yin g any sums secured by a lien which has prioriry ov� t�h i�U$n��e t�y��e�Miaa under this paraagyaph � .
<br /> � ' � reasona b le a t to m e y s'f e e s e n d e n t e r i n g o n t h e P r o p e r ty t o m a l c e r e p a�
<br /> � .�� 7.Lender does not have to do so. h 7 shafl beeome additional debt of Bornower secuted by this�
<br /> �.. . . '. A n y amounts disbursed by Lender under this paragrap ��
<br /> .� ' Securiry Ins tru m e n t.U n l e s s B o r r o w e r a n d l.e n d e r a g r c,e t o a th e r tetms of pa yment,t hese amounts shall bear interest from the
<br /> � • - date of d�shursement at the Note rate aad shall be payuble. with interest. upon not ice from L en dcr to 8 o r r o w e r r c q u e s t i n g � _
<br /> � p �8a e insurance as a condirion of making the loan secured by this Security
<br /> tMortgage Insarance.If l.ender required mortgag � .
<br /> � ° Instrument. Borrower shall pay the p b����a�s�or ceases to be eff�Bormwer shalt pay thef premiums requ�to �
<br /> � ' mortgage insurance coverage required y P �•
<br /> � � � � � obtain covemge substantially equivalent to the mort ge insurance previously in efifect.at�a cost substantiall�V��y����t If -
<br /> � cost to 8orrower nf the mortgage insurence previously in effect. from an altemate mort age insurer aDp
<br /> . - �.
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