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<br /> Thc Funds sk�all bc I�eld in un institution whosc dcpotiits urc insured by a fedcral agcncy, instrumentality, or entity Cd
<br /> (including I.cndcr, if L.cndcr is such nn in5titution)nr in uny Fedcral Homc[�an flank.l.cnder shall apply the Funds ta pay the �
<br /> Escrow Items. l.endcr nmy not�:hc�rgc 8orrowcr ti�r holding nnd applying thc Funds, nnnuully analyr.ing the escrow ncciiunt, or �
<br /> vcrifying thc Escruw Items, unlcss l.cndcr pi�ys Barrawcr intcrc+t on thc Funds and upplicable luw permits l.cndcr to mukc xuch
<br /> a chargc. Hnwcvcr, l,cudcr muy rcquirc Bormwcr to pay u onc-timc chargc t'iir un indcpcndcnt rcal cstatc tux rcporting scrvicc�
<br /> uscd by Lender in cannection witl� this I�an, unless upplicable luw providcs otherwiu. Unless an agrecment is nwcle or
<br /> upplicnhle I��w rcquircs intcrest to bc p:dJ, Lendcr shull not be required to pay Borrowcr�ny intcres�ar c:tmings an the Funds. �i
<br /> Borrowcr u�xf l.endcr muy ugrcti in writln�;, howevcr.ihut intcrest shadl bc paid on thc Funds. Lendcr shall givc to Barrowcr, q�
<br /> withoua chzirge, un annual accounting of the Funds, showing credits xnd debits to the Funds and A�e purpose for which each W
<br /> d.bii te�the Pu�ds was made. The Funcis are pl�dged Ns additional seeuriry far nll sums secured hy this Security Instrument. � _
<br /> IF the Funds held by L.cnder excecd the antnunts permittcd to be held by applicable law,l.e:nder shall uccount tn Burrower
<br /> for thc excess Funds in uccordancc with thc requirements of upplicablc luw. If the umount of thc Funds hcld by Lendcr at any
<br /> time is not sufficicnt to pay the Escrow ltems when due.Lcnder may so notify Borrower in writing,nnd,in such ca�e Borrowcr
<br /> shull pay to[.r,nder the amount necessary to make up the deficiency. Borrower shnU mnke up the defic�ency in no more than
<br /> [weive montlily payments,ut l.ender's sole discretion.
<br /> Upon payment in full of all sums secured by this Security Instrument, Lendcr shctll promptly refund to Bocrower any
<br /> Funds hrld by L.cnder. If,under parugraph 21.Lender shall acquire or scll the Property,L.ender, pnor to the ucquisition or salc
<br /> of thc Property, shall apply uny Funds held by L.ender at thc time of ucquisition or sale as a crcdit aguinst the sums secured by
<br /> this Security Instrument.
<br /> 3.AppUcation of Payments.Unless applica�le la�v provides otherwise, all payments receivecl by Lender under paragraphs
<br /> 1 and 2 shall be applicd: first, to uny prcpayment churgcs due undcr the Note; second, to umawtt�payuble wider paragraph 2;
<br /> third,to interest due;fourth,to principul due;and last,tu any late charges d�1e under the Note.
<br /> 4. Charges; Liens. Bonower shall pay all ttuces,assessments, charges, fines and impositions attrihuwble to the Property
<br /> which mny attsiin priority ovcr this Security Instrument, :�id le;isehold paymet►ts or ground r�nts,iF any. Borrawcr shull pay
<br /> these oblibatiuns in the inanner proviJed in parngruph 2,ar if nat paid in that manner, Bon•o�ver shall pay them on time dim.ctly
<br /> to the person owed payment. Borrower shall promptly furni�h tu Lender all �otices of amounts to be paid under this parngraph.
<br /> If Borrower mukes these puyments directly,Borrower shall promptly furnish to I.ender receipts evidencing the payments.
<br /> Borr�wer shall promptly disrharge any li�n which hus pr�ority over this Security Instrument unless Horro�ver: (a)agrees in
<br /> writing to the payment of the obligation secured by the lien in a munner acceptable to i.ender:(b)contests in gond fuith the lien
<br /> by, or defends against enforcement uf the lien in, legal proceedings which m the L.ender's opinion operate to prevent the
<br /> enforcement of the lien; or(c)secures from the holder of the lien an n�reement satisfuctory to Lender subordinating the lien to
<br /> this Security Instrument. If l..,ender dctennincs that any pan of the Property is subject to a lie�i which may attain priority over
<br /> this Socurity Instrument,Lender may give Borrowcr a notice identifying the lien. Iiorrower shnll satisfy thc lien or take onc or
<br /> mure of the actions set forth abovc within 10 duys of the giving of notice.
<br /> S. Hazerd or Property Insurance. Borro�ver shall keep the improvements now existing or hereafter erected on the
<br /> Property insured against loss by fire, huzards included within thc term "extended coveruge" and uny other hazurds, inc[uding
<br /> floods or floocling, for which Lendcr requires insurance. This �nsurancc shall be maintained in the amounts and far the periocls
<br /> titat i.ender reyuire�.Ti�� iu�u�u��cc cuiiic� NCuvi3iiif;i�iC: 16;iStdii:.�Sii�i= �C��O;Cr �1��ATtC::'�! `•»�;==i iL'I-'-�R�°T c:���r�val ,
<br /> which shall not be unreusonably withlield. If Bon�ower fails to maintain coverage described abovc,�i.ender may, at Lender's
<br /> option,obtain coverage to protcct C.ender's rights in the Property in uccardance with parngraph 7.
<br /> All insurance poAicies and renewuls shall be acceptable to Lender and shall include u standnrd mortgage ctause. Lender
<br /> shall have the right to hold the policies und renev�als. If L.ender requires,Borrower shall promptly give to L.ender all receipts of
<br /> paid premiums and renewa! notices.Ia the event of loss, Borrower sliall givc prampt notice to thc rosurance carrier and I.ender.
<br /> l,endcr may muke proof of loss if not made promptly by Borrower.
<br /> Unless Lender and&�rrower otherwise agree in writing, insurance proceecls shall be applied to restoration or repair of the
<br /> Property damuged. if the restoration or repair is ccor►omically feasible�ind[..ender's security ts not Iessened.If tha rcstoration or
<br /> repair is not economic;illy feasible or L.ender's security would be lessened, the insur.uice praceeds shall be applied to the sums
<br /> secured by this Security Instrument, whether or not [hen due, with any excess paid to B�rrower. If Borrower abandans the
<br /> Property, or dces not answer within 30 days a notice from Lender that the insursnce carrier hus offered to settle u claim,then
<br /> l.ender may collect the insuranc;e procecds. Lender may use the proceeds to repair or resture the Property or to pay sums
<br /> secured by this Security Instrument,whether or nnt thcn ituc.The 30-day period w�ll begin when the notiue is given.
<br /> Unless [.ender and Barrower othcrwis� ugree in writing, any application of proceeds to principal shall not extend or
<br /> postpone thc due date of thc monthly paymcnts refcrrcd ta in paragraphs 1 and 2 or change the amount of the paymcnts. If
<br /> under paragraph 21 the Property is acquired by Lender, Borrower's right to uny insur,�nce policies and proceods resulting frum
<br /> , damage to the Property prior to the ucquisition shali pasx to Lender to the extent pf the sums secured by this Security Instrument
<br /> immediately prior to the acquisition.
<br /> ' 6.Oa:upnncy,Preservudon,llisintenence und Protection of the Pn►perty; Borrower's I.oan Appllwtion;I.easeholds.
<br /> Bormwer shall occupy,establish,and use tl�e Aroperty ati Dnrcotver's principal residence within sixty days after the executifln of
<br /> this Security Instrument and sl�all continue to occupy the Propeny as Borrawer's principul residence for at Ieast one year at[er
<br /> the date of ixcupancy, unless Lender otherwise�grees in writing, which conscnt shalt not bc unrcasonably withheld. or unless
<br /> extenuating circumstances exist ��hich are beyond Borco�ver's control. Sorrower sliull not desreoy, ciamnge or impair the
<br /> Property, allow the Property to deteriorata, or comiuit waste on the Property. Bon•owcr shalt bc in default if any forfeitute
<br /> action or proceecling, whether eivil or criminal, is begun that in Lender's gaod Faith judgcnent could result in forfeiture of the
<br /> . Property or otherwist cnaterially impair the licn rreated by tliis 5rcurity[nstrument or Lender's security interest. Borcower nu�y
<br /> cure such u default und reinstate.as provided in paragraph 18, by causing tl�e action or procceding to be dismissed with a ruling
<br /> ' that, in [.cndcr's goai faith Jctermination, prccludes forfciture of the Borrowcr's intere.at in tt�c Property or other matcrial
<br /> impairtnent of the licn created by this Security Instrument ar Lender's security interest. eorrower shall also be in defuult if
<br /> Borrowcr,during thc loan uppliratiun proress,gavc rostcrinlly false or inac�urate information or stateinents to Lcnder(or failed
<br /> � ta provide Lencler with nny materiul information) in connection with the luan evidenced by the Note, including, but not limited
<br /> to, representations enncerning Borrower's orcupnncy ol'the Property as a princi�nl residencc. If this Security[nstrument is on n
<br /> Icaschold, Bormwcr shall comply with all the pruvisions of the Icasc. if Borrower acyuire. fcc titic to the Property, thc
<br /> lcascliold and thc fee title shall nut mcrgc unle.vs L.e�ider ugrees to thc merger in writing.
<br /> 7.Protortion of Lender's Righte in the Property. It'Borrowcr fxils to perform thc covcnants and ugreements contained in •
<br /> � this Security Instrument, or there is a Icgal procceding thut miiy significantly affect Le:nder's rights in the Property (such as a
<br /> proceeciing in bankruptcy, probate, for condemnation or tiirfeiturc or to enforce lnws or regulutions), then Lcnder may do and
<br /> pay for whatevcr is nexessary to protcct tlie vatue of the Property and Lender's rights in the Prup;rty. Lcndcr's uctions niay
<br /> � include paying any sums secured by a lien which has priority over this Security Ins[rument, appearinb in cc�urt, paying
<br /> ' rcasonable attorneys' fi:es and entcring on tnc Property to maKC repairs. i►i[naugn i,endcr may�uicc a�t�vn unucr ini� parags�pi�
<br /> 7, Lender does not havc to do so.
<br /> Any umounts disbursed by [.a:nder undcr this paragtaph 7 shall hccnme additional dcht of Burruwer secured by this
<br /> , 5ccurity Instrument. Unless Borrowcr and L.cndcr agree to othcr tcrnis of paymcnt, thesc amounts shall hcar intcrcst from the
<br /> date of disburscment at thc Notc ratc and shall be payable. with intcrest, upon noticc from Lcndcr to Borrc�wcr rcyucsting
<br /> payment.
<br /> 8. MortRage insurunce.[f Lender required mortgage insurnnce as u condition uf makii�g thc loan securcd by this Security
<br /> Instrumcnt, Borrciwcr sh:�ll pny thc premiums reyuinvl to maintuin thc mvngaf;e insur.incc in cffect. If, for any reason, the
<br /> murtgage insurunce coverage reyuired by Lcnder lupses or ceaseti to bc in effect. E3orruwer shall pay thc premiums reyuired to
<br /> obtain cvvcrabc substantially cyuivulent tn the mongagc in�ur,mcc previously in effect,at a ro.t +ubstantially cyuivalcm to th�
<br /> cost to Borrowcr of the mortgage insurance previously in effect. Frc�m an :dtcrnutr nwrtgage insurer approvui by Lender. if
<br /> ao��z oi a Fotm 3028 9I90
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