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<br /> . , �'.� ;�`,z�.:,�. '�te Fwids shall be �e1d in an ia4titutioa whose depos�ts are insared by a federsl agency. ecuwmerualitY. ar entity
<br /> Y,�s:=` .• f including tender.if Lender is such an i,tistitutIon)or in apy Fede:al KAmc Laan$ank. t.cnder sfiall apply U�e Funcis to pay the
<br />. . t`°.�r : : Esccow Items.Lead�r may not c1�ar8e Borrower for holdiag and appfying the Funds.annually anai��u��r o matce such ''-
<br /> cco �-
<br /> verifying the Fscr+aw items.untess lsuder pays Bomnwcr interest on the FanQc�nd apP cab2e law �..
<br /> :�. _<�• su
<br /> � � f��'�` a charge.Hawever.Lender may iequire Eomower to pay a one-rime charSe for an indelmnsient r�ai estate tax reporting servlce �,.
<br /> ..!pf,�:;.`.' f used by I.ender in conne�tion with dtis loan. unless applicable taw provides otherw+ise. Unless an agrcement is rt�ade or
<br /> � • ' �pplicable la�v requires interest to be Qaid.Lender shaIl aot be requimd to paY Borrow�er any ime�t or eamin�s oa the Funds. �'-`,
<br /> ,`'`<.t; ' $arrawer aad Leader may agree in writing.ho�vever. that interest sha11 6e paid on the Furtds. t.ender sha��b*i�e to Barrower.
<br /> . without cttatge.sin annual aaoountit�of tf�Funds.showing.ccedits and debits to che Funds and the purpose for which cach �
<br /> -.: =�' debit to the Futuds was m2de.'I7ie Funds ate pledged as addiriflna�secunty f°r a11 li bte aw�.dl.i der hall acQOUntB om�wer =
<br /> � .'°�;.`` If the Funds deW isy L�zider exc�eed the amounts pemuued to be heid bY aPP �
<br /> . � ��'� " for the excess FunQs in aaordance with the requimmei►ts of appiicabte law. If the amount of the Funds held bg Lender at any _.�
<br /> -'.`.-r'-��-- «aie is aot su�cient co�ay the Escruw Items when due,Lender may so natify Bor�ower in w�riting.aind.in suc6�erunre than �_
<br /> • s h:a l l pay to Lsnder the amfluntn eo a�alce oP ttie deftcieacy. Sorm�rer shail a�fcc up the defic�eneY� —
<br /> u �ssary
<br /> '�•'�`'°�`'. � mecus.at[ender's sote.discretion.
<br /> ... ��- • �. ".�: twelve moatlilY paY ��, �der shall promptly tefund to Horcnwer any _
<br /> m'�' Upon payment in fnil of a!1 sums secured bX c�s Se�:urity =_-
<br /> _ ' Fands held by Lender.Yf,auder paraS*aPh 21•I.�d��.s��N��or selt the Property,l.ertder.pr�or w the acquisidon or sale �
<br /> ��`�'`. of the Prapeity.shall apply�ny Funds 6etd hy l.ender at the 4ime of aoquisition ar sale as a c.�edit against the sums secured 6y . _
<br /> . .� ::,h.;'�� this 5ecurity instrument. � —
<br /> . .4. ,• ' 3.Appltcatlon iif Payments.Unless apPlicable taw pmvides atheiwise,ail payments received by�.ender.under paraBraP� --
<br /> ."`;`.`�=`:� ':: cbar es dae uader.the Note:sea�nd.ta amounts payable wuter pazagsaph 2:
<br /> � �:�:��. • t and 2 shall be appt�eflc firot.to anY PrePaY�� � _�
<br /> � `����'�''���7� third,to intet+�sc due•foucth',to princ�pal du�:and Iasi•w anY�e charges due under the Note.
<br /> -- • :�. �; ` q.�g��],{�ys.Borrower shall�y all taxes.assessments.charges.fines and imposiauns atuibutable to the Propercy
<br /> :._';;=::.: ::;:: nts or und rents. if any. Borrower shaU PaY
<br /> � ,a:=�<':: w.,
<br /> ..;-z;.:+, . wlUCh may attain priority over this Se�ty Inst�ument,artd[easehold payme gm
<br /> -• thesC abligations in the manner provided in P�S�Pb 2•a�yf not paid in that manner.Borrower shall pay them on time di�ectty
<br /> . ,'''�'�'•;� � co the person owed payment.Borrower shall promptly fumish to Lender ai!notices of amau�}ts to be paid under this paragraph•
<br /> If Bnrrower makea th�se payments direttly,Borrower shall promptly fumish co i.ender�eceipts evidencmg the payments.
<br /> �..';::� ' Borrower sha0 promptly dischar8e any uen w6uh has prianty oves this Security I�wment untess BoROwer.(a)agrees in
<br /> ..�`. �;,V�'. writiag to the payment of the obligation secured by tire lien iro��w��le��der sbop niflon opera eo f prevent�the ,
<br /> --- �.-:�::'.=�,�,. by.or defends aga�nst enforzement of the iten in,.tegai P
<br /> • •- -:�s.`�.
<br /> . . "'. enforcement o€the lien;or(c)secures from the hotd�of[he lien an agrcemes1�a�d5�to a t en whichSmaYtatt�a'�nnP'�ne�3'°� --
<br /> �� , ,.`,�.. ,,,.• �his Security Instnunent. If Lender detemunes that any pan of t6e Property' )'
<br /> .` <.. •` .
<br /> ���' � this Security Insunrment.Ler�der may give Borrower a notice idertifying�the lien.Sornawer shalf satisfy the lien or take one or ,;!
<br /> '- ��-�� ���" ' more of the actions set forth above within 10 days of the giving of nauce.
<br /> �,�•:��,
<br />,:::�...;:.!�::c:.{,.,.� 5. H a 7 a r d o r �r n g e rt Y L i s u�►ce. B o r r a R�e r s h a l l k e e p the im provemenu now existing or hereafter emcted on the
<br /> H rd �� o t her h a�v d s�i n c l u d i n g
<br /> ;:. . pt�npesry insur�d against toss by fire.hazards includzd wi8tin the term"extended covecage" a n d a dy
<br /> .�'��.s:; f t o o d s o r floodin g;for which I.eader requires insurance.This insurance shall be maintained in the amounts and for the periods
<br /> :�,��°`°;��.�:: ;:. �s,T he;nswance e n c r i e r p r a v i d i n g t h e i n s u r a n ce s h a l i b e c h osen b y Bormw e r s u b j e c t t o L ender's a p proval
<br /> . • � ��,c�••,�� that Lender requi
<br />. , . ..rf�a.�,�J`t �i
<br />.. . �•�, � � , whict�sha11 not be unreasonabl}�witiihheId. If Barruwer fails to maintaia coverage desrnibed ahave. I.ender may.at I r.n der s
<br /> � . . ;,,;:I oprion.obtain rnverage to pmtect L en der's ri g h t s i a t h e�r o p e r t y i n a c c o r d a n c e w i t h p a r a g r a gh 7. ctause. Lemder
<br /> :.. :f: pll;nsurance,policies and renewals shal!be.a�.�eptabte to Lender and shall irzcludp �standaid mort�age
<br /> `�::�` �; er and Lender. '
<br /> � �Q;. shail ba�e the right ta hotd the policies and renew�.Lf Lender re4u►res.Borrower shall ro tt ve to Cr�xter all receiPts of
<br /> ',.� „ : � paid g�ipituns and renewal nottces.In the evenrof�•�ss;$oaawer shall give prompt notice to the insura�ce;�..:t�i
<br /> •� ';a•„.:.,.""' Y:•�r i.ender u�aY tnake Proof of.toss if not made promptty by Borrow�c
<br /> . . ' �•.r> Untess Lender and Borrower athenvise agrce in wnnag,�rs:��pro�s shall be applied to restor��e�.ea r��f-the
<br /> . " �` p�opQrty damaged.if tt2 restoration or repair is econoauFaiip f�s�:e and Lender s sccarity�s nat lessened.L'�i�ie restarr�ion or
<br /> -' re�au is not economi�y feasible ar l.ender s security wautd be tes�ene�.the insuranoe P�ds shali be���d to the sums
<br /> r ���.�, seivre�by tbis Sesura� Instnunent.�dhether or not then due. weth any excess paid to Borrower. If Boirower abandons the
<br /> �,, .
<br /> ` � :: . ,. property.or does not aaswer wit�►in 3b days a notIcc frcros L.ender that the Insurance carr+er has offemd to se or rot a��sums
<br /> . ,.:.�g�.. ;���:.;.
<br /> . :�;:,���,,•,..,�s� Lender may wllect the insurance'proceeds. Lender rriay use the praceeds to repair or restor,�the ProPgrtY P Y _
<br /> �� .;� �' rcud w�il b in w�az�c ciotice is geven.
<br /> . . �,,.., _..,
<br /> +� secured by this Securiry instrusnent.whether or not th�n dae.The 30-day pe�, e8
<br /> .,��`"' . � ��;� . '. Unless Lender and Borrower otherwise a��n writing• anY aPP�IC�t1on of proceeds to principal sha11 not e�tend or
<br />- ' � ' ��' postpone the dae date of the moiithty payments cef.�d to in paragraphs l and 2 or ch�►ge the amp��f�the paymertu.lf
<br /> :-:;_ ,: ^; '. .�v
<br /> under paragiaPh 21 the P[operty is acqu�red by E�,f�'.Eorr�wer s right to any insurance policies and F��a�3s resuEring from
<br /> . � , . •:;�. ¢amage.t,a;t►e Praperty prior to the acquuit�on shal���ta I.ender to the eactent of the suma secnred by tIu�;��Curity,�Tnsttument
<br /> `:•• .�...,� � immed�ately prior to the acqa�sidon. .
<br /> : .; �:�¢�Y 6.Oecupanty.Preservation,fVlatntenaace aas�T{tr�ttc�ti�ra u(F the Pruperty;Borrmrer's Loan Appli�tioa,
<br /> 1.easetwld9.
<br /> Barrower shall occupy,.establish.and use the Prapeua;.s Bozcower's principal residence within sixty days afte��he execution of
<br /> ' '� � t}�is Security Instrument and shall condnae to oeca�y the Property as Earrower's principal reside�ce far�t:�east dne year after
<br /> �'.''•;;�� the date of occupat►cy.untess Lendet otherwise agre��in writing�whici�co:�eni shal!not be unreasoaa�ty ixithheld. or untess .
<br /> ' � . .:, �, extenuating circumstances exist which are beyond Borrower's wnteol. Borrower shall nat destroy. S�.'�sage or impair the
<br /> • . Properiy. allow thep�op�rty to deteriorate. or cammit waste on the Property. Borrower�1`�w^II be in default �f any forfeiture
<br /> � ` � action or proceeding.�v6ether clvil or criminal.is begun that in Lender's good faith judg�ii wuld result in forfeiture of the
<br /> � ' `••��.•. • Propecey ar oil�erwise materialiy impair the lien created by this Socurity U�strument ar Lender's security interest.Bomawer may
<br /> ' cure such a default and reinstate,as provided in paragraph 18.6y causing the action or proceed�nS to 6e d"umissed a+ith a rulin�
<br /> . • ,:�• .� •;�' that, in Lender's good faiw determination. precludes forfeiture of the Borrower s interest in the Pco�y or other material .
<br /> ' impair�nt of the lieo ec�eated by this 5ecunry Instrument or l.eader's security interest. Borrower shali:iso 6e in defaalt if
<br /> ".�;:;r,`;• . . BoaowCr..during the.loan apPl�cation process,8ave materiallg false o��r inaocurate infomiation or stat inc ding,b c�c C�mitad .
<br /> . _•-.�:`{ :'� to provide l.ender with any material informatton?in conn 'ara ai`itb fhe loan evidenced 6y ths Note.
<br /> . to.represetuations oonceming Bonower's occupaacy of the perty as a Principal residens�.if this Sec�aicy Insuu�t is on a
<br /> •...��:...�. leaschotd. Bormwer stuill complY with all the pro�isions of the lease. if Borrower acquires fee tide to the Propeny. the
<br /> ' •'' teasehold unA the fee titla shall not mccge unless 1�cnde� if Bomo�er fails�to perform tshe wvenants and agreements contaiaed in
<br /> � 7.Protecdon of Lender's ttt�ltts tn the Pmperty
<br /> this 5ecurity instrument.or there i�u le�nl ptoce0din�that�nay significantly affect Le:tCer's rights in the Ptoperty (such as a
<br /> , . ' .. �.. '•�,I proceeding in bankniptcy.probate.for oondemnntion or forfeitui+e or to enforce laws or regulations).then I.ender may do and
<br /> ' � pay for whatever is aecessary w protect the v�luc of the Property ar►d Lender's ri�hts in the Property. Lender's actions may
<br /> inctude paying any sums secuted by a lien wj�icb has priority over this Security Instniment. a�euring in wurt, paying
<br /> � reasonable aitomeys'fees and euteting on the N�+operty to makc rcpairs.Although Lender may take acuon under this paragraph
<br /> . •� �• 7.l.eader does aot have to do so. h q �� �me additionai debt of Borrower secured by thls
<br /> � • • Any amounis disbursed by Lendet under this paragrap
<br /> gecurity Insuumeat.Unless Borrower and l.ender agree to other terms of p3yment.thcse amounts shall bcar irrterest from t6e
<br /> � � � date of disbursement at the Note rate.and shall bc paya6le. with iatcresc. upon notice from Lender ts Borrower ra►uesting
<br /> . : �- . p3yment.
<br /> -•�,, �', �� . g.Mort�a�e Insurance.If Lender required mortgage insurarue a5 a eondition of making the toan socured by this 5ecuritY
<br /> � Instnunent. Bormwer shall pay the premiums required to maintain tfie mort�ge insurance m effert. If. fos any ceasun,th�
<br /> •� mort�a$e insurance covera�e requircd by Lender lapses or oeases co be in effect.Borruwer:�hall pay the premlutns required to
<br /> � � ' obtain coverage substantially equlvalent to the mortgage insurance prcvlously in effec�.at a cost su6st�ntially equivatcnt to the
<br /> �. � . � . wst tu Bonower of the mort�ase insurance previously �n eifect. from an�Itemate mort�e insurer approved by Lender, if
<br /> , ,,�, "' ' � veqe�ot e FOrf!I S02Q $f90
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