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<br /> Thc Funds shnll bc hcld in un institution whosc depuslts urc insured by a federai ngciicy,��strument��entity
<br /> (including L.e�xler, if Le�xler is such,m institutic�n)or in uny Federnl Home I.oan&�nk. l.cncicr shull apply the Funds ta pay the
<br /> Escrow Items.Lcndcr�nuy not churgc Bc�rrc�wcr for holding und applying thc furxis, ►�rniuully anulyzing thc cscrow account, or
<br /> vc�ifying thc f:scro�v Itc:nu, unless l.cndc�pays I3urrower intcrest an tlic Funds and npplicuble Inw�,rmits Lcnder ta make such
<br /> a char�;e. Huwevcr, Le�tder may rcquirc Borr��wer tu pi�y��one-time chi�rge for iin ind�pendent nal estute tax reporting scrvico
<br /> used by L.endcr in conuc�[ion with thiti loun, unlwss applicubl� luw providcs otherwise. Unless mi agrcen�ent is made ur
<br /> applicable law rcyuires interest to bc puid, Lendcr shtdl nnt he rcquircJ tu pay 13orruwcr uny intcrest ar earnings an the Funds.
<br /> Borrowcr und l.cndcr�nuy u�rcc in writing, howover, thut intcrr:st shull bc puid on the F�unds. i.x�xlcr sh:�ll give t��Born�wcr,
<br /> without churge, un annuul uccaunting of�hc Funds, thc►win� crc�lltf� und debits tu the Fuixls u�xl the purpose fi�r which euch
<br /> debit to the I=unds was maJc. Thc Funds are pl�.�cigcd us iidditi�miil r�curity for all sums sccurcJ by thi�Sccunty Instrument.
<br /> IF the Fu►�ds held 6y l.ender excecri thc amuunts pennitteJ t��he.h��ld i,y a�pF�IicaUlr lu�v. I.rnJcr yhnll accexmt to E3arroe.•er -
<br /> for the excess Funds in ucec�rdunce with thu rrquire:monttc ot'applicublu I��w. If tf�n cnnuunt uf the runJs held by Leixter ut uny
<br /> time is not sufficirnt to pay the�semw Items when dun, l.endt�r m�ry so nutify Borrower in wrltin�, u�xl,in su�:h case Hc�rruwer
<br /> .rhall pay to l.endcr tl�c aiu�iuiu ncccs�ry tu mukc up thc dafic:icncy. [kirruwcr �{udl mukc up 1hc dcticicncy in no mure than
<br /> twclvc manthly puynxnts,ut IAixlcr's sule dlM�ttNon,
<br /> Up�m paynknl in full uf nll �►nn� xxun:d by �hi:; 5ccuriry In.�runxnt. I,r�xlcr slnell pr��mptly rcfund to F3�rrruwcr Hny
<br /> Fwxts hcld by l�c�xlcr. IP,iwdcr p:a��igr��ph 21. IAiHlcr�hall ucquirc nr rcll tik Nru�xrly,IA�xlcr.priur t��thc nryui�i�lun or.r•idc
<br /> of tlic Prupeny, tihull arply uny Fun�in hcld by isndcr nt thc tinw i�f t�cyui�itiun ur na�lc u. ��r��dli ug�►Uitit IItC tiumti+cc�mYl by
<br /> thiti ticrurily Inslrunxnt.
<br /> i.Ap{►Ilcwtlon o� 1'wYmcnf!+, Unlcti�i+pplicuhlc luw providc�n�herwlu,ull p�ryn►�nl�rrcciv�yl hy Lr�xlcr u�xlrr�u•ugraph�
<br /> I u�xt = ,hull tx up�illc�l:Iir�1. w��uy prcpuy�ixnt�:Iwr�;c+duc undcr tl�c Nu►c: +crund, iu unwuniti puyuhlc uiklrr �arn�r�iph Z:
<br /> �I►ird,tu intr��c,�duc;f��unh. w�n�lu��lp;►I dur:und lutit,tu nny Intc ch��rAcs duc uixlcr Ihr Nutr.
<br /> 4.Clt�t��w; I.leu�.IA�rruwcr tilu�ll p:iy ull i��xex, urksynicnth, cli�+r�;cs, linc,nod Inqw��itl�►n,cu�rihuiublu u► the 1'tupe.ny
<br /> which nwy iUluln priorily uv�r Ihlr; ticcurhy in+trunx�n�, u�xi Ir.�.�tl►u1J pnynx:nts ur Eruund r�nt�, il'iury. lii�rrowur.rl�nll pay
<br /> thcsc nhNg��tiun.in�hc �uunu��r provid�Yi in parugraph?.,or iP nuI p�dd in�h�u mumur. &�rruwcr xhull pay thcm�m timc dirc�Uy
<br /> to thc per,un uwal pay�ncnt. Ikirrc►wcr,hull prumptly fin�+�i;�h to I..cixlcr ull noUccs nf unwunts to hc paid undar chi�.par.+grupl�,
<br /> If&►rrower makrs Uie�c payments Jirc�:Uy,&►rruwer shidl protnptly furnish to l.cixler rcceipt�cvidcncing thc payment�:.
<br /> Borrawcr shull pn�mptly ditichurgu uny liun whlch hac pri��rity uvcr this Scrurity Instrm�xnt unlcss Borru���er. (.ii ngrccti in
<br /> writing to thc puyma�t uf the���bli�uli��n necui�:d by thv licn in u manner acccPtublc tn I.,cndcr; (b)contcsts in�;oixl luiih tl�o licn
<br /> by, or dcfends uguinst enfc�rcement of thu Uen in, IugAI proceeclings which in the l.cnder's opinion uper,tta tci prevent tha
<br /> enfurcement af the lien: or(c)nccures frum tho hnldtsr nf ttia liun nn <<greement sutisfuctory to L,ender�uburdinuting thc licn to
<br /> this Sccurity Instrumene. If I..endar datcrmines thnt nny purt of ihc Property is subject to a lien which muy attuin priority�i��er
<br /> this Security Instrumcnt,Lcndcr miry give l3�rrower a notice tdontiFying the lien. &�rrower shull sutisfy thc Iicn or take one or
<br /> morc of thc zctians sct fonh nhuvo within lU duys�f the gioing af nnNc:e.
<br /> S. Hazard or Property Insut�xnce. Borrower shuil kecp tlio improvcments nuw existing un c�rcaRar erectcd on the
<br /> Propeny insured agninst loss b�� fin:, hazards inclttdcd within the tcrm "extended a�veragc" nnd any other humrds,including
<br /> floaws or tlooding, for which l.endcr requtn:s insurnnce.This insurance shall be maintained In thc amounts nnd for ihe periais
<br /> thr�4 L,r�•'�r n�uires.The insurince cnrriQr praviding the insurnnce shall be ctiosen by Bunower subjcct to Lender's approvnl
<br /> which shall not be unreasonably withhplct. If Borrower fails to maintnin caverage descritxd pbove, Lenuer may. at Lender's °
<br /> option,obtain cover�ge ta protect l.endur's rights in the Property in accordance with par.�graph 7.
<br /> All insurance policies and re.newals shnll Ue ucreptuble to L.ender und shull include a standard mortgago clau�e. Lender
<br /> sh�fl have the right to hold tha policies and renewals. !f L.ender requires,Borrower shall prompdy give to I..ender alt receipts of
<br /> paid prcmiums und renc�wal natices. In the event of.loss,Borrower shall give prompt noticc to thc insurance currier and Lcnder.
<br /> Lender may makc proof of losti if not mude promptly by Borrowrr.
<br /> Unless Lender and 8orrower utherwise agrce in wricing, insunmce proceuls shall be upplied ro restoration or repuir nf the
<br /> Pruperty darr►aged.if thw rostnrution or repair is ecunomicAlly fcusible and I.ender's security is not lcssened.If the restoration or
<br /> mpair is nat econami�ally fcsasiblt or L.ender's security wuuld be Icasened, the insurunce proceeds shall be applied to tha sums
<br /> securud by this Securicy Insttutnent, whether or not tlien due, with any excess paid to Borrower. If Borruwer abandon� the
<br /> Propeny, or does not c►nsx�.�r within 3Q dnys a notice from Lender thut the insurance carrier hus offered to settle u dairn,then
<br /> temler may cc�llcsct ttit� insut�mcx+ prdce�.ds. L.ender may use the procecds to repAir or restore thc Propeny or to pay sums
<br /> securod by thls Secudty lnstniment,��hettnr ur not then due.The 30-day period will begin when the notice is given.
<br /> Unless Lenclor and&�rrower otlierwisa Agree in writing, any upplication of proceeds to principal shnll noY extend or
<br /> post}�one the dua dato af the monthly payments referred to in paragraphs I and 2 or changc the amouni of the paymcnts. If
<br /> uixier puragw�ph 21 thP Pivperty is acquired by Lender, Bonawer's right to uny insurance policies and proceeds resulting fmm
<br /> damage to the Propeny prior to the acquisitian shalt pass to I..i:nder to the extent of d�e sums sccured by this Security Insttument
<br /> immedlt�tely pr)ar ta•the acquisition.
<br /> 6.Oucupwnqy,�'t+eservatlon,Malntenance and Frotection ot the Property; Borrower's I.oan Application; I.e�seholde.
<br /> Aorrower shali oocupy, cstablish,und use the Property as Burrower's principal residencc within sixty days after the execution of
<br /> this Security instnit�nt and shull continue to cxcupy the Property as $orrower's prineipul residence for at leust one yeoar ufter
<br /> the dato of u�rupancy: vnlass T.ender otherwise agrees in writing, which consent shcill tx�t be unmasonably withhe(d,or unless
<br /> exte�ivating circumxtunt�es exis� which are beyond Borrower's control. Borrower shall not destroy, damsige or impair the
<br /> Praperty, n11ow the Property to deteriorute, or commlt wastc on thc Psoperty. Bnrrcrwer shull be in default lf any forfeiturc
<br /> nctian or praceeding, whethcr civil or crimin:►I, is begun thut in I.cnder's gaad faith judgment could result in forfeiture of the
<br /> • Pruperty ur•oQierwise materially impair the iien created by this Security instrument or Lender's security interest.Borrower muy
<br /> cure sucl��a deFault and reinstate,eu provided in pura�raph l8,by causing the action or procecding to be diamissed vvith a ruling
<br /> � thut, in Lender's gooci faith Jctcrmination, precludes forfeiture of the Borrower's fnterest in the Proparty or other rnaterial
<br /> impainnrm:of the licn cre:stecl by this Sec:urity Instrument or Lender's security interest. Borrower shull t�lso be in default if
<br /> Borrow�;r,during thc loan applicution process,gave mntcrially falec or innccuratc information nr swtemcnts to Lendcr(c�r fuilcd
<br /> tn pravida Lendcr with tmy matcrial informntion)in connection with the loun cvidenccci by thc Note, including,but not limited
<br /> to, r�prasentutions coneeminb Borrower's cxcupancy of tha Propeny as a principul residenc�.lf this Securiry Instrurnent is on a
<br /> lcasejtold, Horrower shnll comply with ull the provisions of the Ieasa If Burrower acquires fce tiNe tn the Pruperty, tho
<br /> Icaschald and thc fce tiNe shall nnt merge unless L.�:nder ugrecs ro the merger in writing.
<br /> �'.Protectlon of Lender's Right�In the l�roperty.If Borrowcr fuils to perform the covenunts and agrcements conts�ineci in
<br /> this Securit,Y instrument,or there is a legal prcxecding that may significantly affect C.ender's rightti in the Property(such us u
<br /> prnckeding in bunkruptcy,probute, tor condemnation or forfciture or to enforce laws or regul�tions), then I.ender may clu and
<br /> Q�y for whatcvcr is necessary to protcct the value of the Property und C.cnder's rights in thc PruTx;rty. LcnJcr's actic�ns may
<br /> include paying any sums sccurecf by a licn whirh has priority over this Security lnstrument, uppearing in cuurt. paying-
<br /> nraain�6lo uftmm�vc'fr�c nrul rntrrinu nn thr Pmnrrtv tn malrn rc•nairc. Althnuoh Icndcr mrv takc nction undcr this Dar8�r11ph'.
<br /> ._,_..._-- -_._..--+- ----------�------� . . ._ . , . , . .. � . . _ .
<br /> 7, Lendcr docs not havc to do so. ...
<br /> Any amowus disbursed by Lender under thi� purugraph 7 shiill become uJJition:�l debt of Aiirrower secured by thie,' •
<br /> Sec:uriry Instrument. Unlcss Borrower and Lendcr sgrce to utlier terms of pnyment, thcse amounts shall Hcar interest from tho'r=r
<br /> date of disburscment at thc Note ratc anJ shull be payuble, with intcrcst, upon noticc from L.ender to Borrawcr reyuccting�
<br /> paymcnt.
<br /> S.l�tortgage Insaranee.If Lcnder requireci mongage insuiance as a condition of making the loan serured hy this 5ecurity
<br /> Instrument, Borrc�wer shall pay th� premiums requi►rd to muintuin the mortguge insurance in effcct. If, for any rca+un, the
<br /> mortgage insurance cover,�bc requimd by L.ender lapses or cc;sses to be in cffect, nurre�µ�er slutll pny the premiums reyuirccl lo
<br /> obtain coveragc substantially equivalent to the murtgn�e insur.tncc previously in ctTect,at a cost substantiully cyuivalent tn the
<br /> cost tv Borrvwcr of thc mo►Yguge insuruncc pmvic>usly in cff'cct, from un xRcrnatc mortgugc insurcr��ppmv��t by I.cnJcr. If
<br /> Pape 2 0l a Form 3028 9/90
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