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<br /> r 97— sc�'�6
<br /> Thc Funcis �hall he held in im institution whosc dcposits are insurul by u fcdcr.ii ngency, instrumentnlity, or cntity
<br /> Ifncluding L.enQcr, if l.cndcr iti ruch un institutionl or in any 1'�Yl�rul H��mc le�an Bank.lsndcr shull upply thc Funds ta pay thc —
<br /> fiscruw Items. l.ci�dcr may nat churgc Florr��wcr fur I�oWing und upplying thc Hunds,cumually:uudyzing thc c�cruw uccuwrt, or
<br /> vcrifying thc F.scrow Itcros, unicsy LcnJcr pays 8urru�v��r Intcretit un thc pundti und applic:iblc law perniits L.cndcr to mnkc such
<br /> n charge. Huwevcr, Lcndcr nury rcquirc Aurrawcr to pay u ctine-tinx charge for an indeperxicnt rcal estute tax rcportlnb scrvicc
<br /> us�d by Lender in cnnncrtion wiih this I�ian, unletis .ippl�cabla luw provides othenvi�e. Unless im ugmement is ntade ur •
<br /> uFplicublc law rcquirrs intcrest w hc paid, La:n�cr shull not bc rcyuircd tu�uy Borrciwcr any intcrest ur r.arnings an dic Funds.
<br /> &irrower und Lendcr muy :sgrce in writing, huwevcr,thiu inrerest shall bc puid on thc Funds. Lcndcr shall givc to Bottowcr,
<br /> without chargc, un umwul uccounting of'�hc Funds, showing crcdits and debfty to Qtc Funds und thc purposc fi�r �vhith cach
<br /> debit to ihe Funds wus made.The Funds ure plcdged as i►dditiunul security For ull surns secural by this Security Instrument. -�
<br /> If the Funds held by L.ender excced the umounts permitted to be held by applirable luw,L.cnder shnll acaaunt to Borrower
<br /> for the excess Fund�in accordance with the requirements oP applicable law. If the umcwnt of thc Funds held by l.,ender at any
<br /> time is not sufficie�it to pay the Escrow Items when due, I.ender rnay so notify Borrower in writing, and, In stich case 8orrower
<br /> shall pay to l.cnder the amaunt ncccssary to make up thc dcficiency. Bonower shall mnke up thc deficicncy in no more chan
<br /> twelve monthly payments,at L.ender's sole discretion.
<br /> Upon payment in full of tdl sums secured by this Security Ins[ntment, I.ender shall promptly refund to Borrower uny
<br /> Funds hcld by Lender.!f,under y�a►agraph 21, Lender shi�ll ucquire or sell the Fraperty,�.ender, prior tn thc acquisition or sale
<br /> of the Property.s1a;�.11 apply any Funds held by Londer:it the�ime of acquisition or sale as a c�edit Agninst the sums secured by
<br /> th)s Security Listrurreent.
<br /> 3. Appllcation of Paymenks.linles�applicable Inw provides otherwise,all payments rcceived hy Lender under parapraphs
<br />�� 1 and 2 shall be npplied:first, to any prepaym�nt char�eex due under the Note; second,to amounts payable under paragrnph 2;
<br />, third,to interest due;fourth,to principal due;and last,to any late churges due under the Note.
<br /> 4. Charges;i.iens.Borrower shall pay all taxes,ussessmcnts,charges. tines and impositions attributable to the Property
<br /> which may uttain priority c�ver this Security Instrument, and Ieasehold paymenu or graund rents, if any. Bormwer shall pay
<br /> thetic ubligations in the manner prrnided in puragruph 2, or if not paid in thut manner. Bnrrower shull puy them nn timc dircctly
<br /> to thc person owed payment. Barmwer shall promptly furnish to Lcnder all noticcs of imuiunts tu Ne paid undcr this purugruph.
<br /> If Borrower mukes these puymen[s directly, Borrower shull prompdy furnish to I.ender reccipt+evidencinh the payment,.
<br /> Borrowcr tihall prompNy di,rhurgc uny licn which hu�prinrity uvcr thiti Security Intitrumcnt unlcs�dorruwcr: (ul u�rcc.in
<br /> wrltfng tu the puyment�iF thc uhligntion sccured hy the lien in m m�nner uucpt.iMc tu I.�n�lcr:l h�r�►ntr�t+in�!�nhl Ii�iU�the I icn
<br /> hy, �rr dcfends ny,uintit cnti�rrcmcnt uf th� flcn in. Icgcil prikc�dln�� whirh iu the I.�nilrr'� ��piniun u�x�atr tu prcvcnt �Im
<br /> cntirrrcmc��t uF�hc lietr,�ir(c)�rcurcti I'�o�n thc huldcr uf thc lic��mi ugmrmc�u ,uti,l'uctary io Lcuilcr.ulx�rdinuting thc licn �n �
<br /> ihiti kcuriry b�strumrnt. li'Ixudcr�Ictermine> thut �my pnrt uf ihr Ih•openy Ir ,ubjcc� tu i� lien whirl�may uuuln priurity uver
<br /> �hir Sccurity M�trumcnt. I.ciHlrr m�ry Kivc li�irrowcr a naticc iilcntifying thc li�•n. I�orro�v�r 5hc►II artiyfy�hc Ilcn or Inkc unc ur
<br /> marc ut'thc uctiun,,et G�rth iihuvc within IU du�•.r uf thc�iving uf uutirc.
<br /> S. Hwrxrd ur Prv�{�rty Insur��xc. Lk�rr��wcr ,I�ull kcep dic impruvcuicnt� nuw cxi,ting un c�rcaftcr crcctcd on thc
<br /> Pruperty inrum�� .�yc�inst I�ns by fire, hiii.urdc included within thc�crm "execncl�d wvera�e'und iiny �ither h.vairds, including
<br /> floocls or fla�dine, ti�r w•hich lAnJcr rcuuires insuruncc. This insurancc shull bc muintahicd in thc umounts anJ for thc periods
<br /> thc�t l.ct�dcr reyuiirti. Thc insurancc curricr providing th�insurnncc�h;ill bc choscn by Bc�rrowcr subJcct to i.endcr's approval
<br /> which shall not he unreasunubly withhcld. If Borr��wcr fail��n maintuin c��verage described ubave. [.ender mny. ut L.cnder's
<br /> option,ob[ain covcr:�gc to protcct I.endcr's rights in thc Pri�perty in accorJuncc with parngr.�ph 7.
<br /> All insurance policies and renewals shnll be acceptable to I.ender and shall inclu�e u stund�srd mongage clsuse. Le:nder
<br /> shall have the right ta hold the�licies and renewals. If Lender requfres, Bottower tihall promptly give to Lender all receipts of
<br /> • pald premiums and renewal notices.In the event of loss, Borrower shull give prompt n�tice to the insurance carrler and Lender.
<br /> ' Ler�der may make proof of loss if not made promptly by Harruwer.
<br /> Unless L.ender and Burro���er otherwise agree in writing,insurance proceecls shull he uppl{ed to restomtion or rcpatr nf the
<br /> Property damagt�d,if the restvrutiun or repuir is a�onomically te:asihle and l.ender's security is not lessened. If the restoration or
<br /> repuir is not economically feasible or Lender's security would be lessened,the insurunce procecds shull be applied to the sums
<br /> secured by this Security Instrument, whether or not then due, with any excess paid to Barrower. If Burrower abandons the
<br /> +'� Property,or does not answer within 30 days u notice frnm Lencler that the insurance carrier has offered to settle a claicn,then
<br />',�' Lender ma�� colfect the insurance proceeds. Lender may use the proceeds to repuir or resrore the Propeny or to pay sums
<br />�` secured by this Security Instrument,whether or not then due. The 30-day period will begin when thc notice is given.
<br /> Unless Lender and Borrower otherwise ugree in writing, any upplication uf procc�ds to principal sh�ll nat extend or
<br />� postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payments. If
<br /> ' under pnrugraph 21 the Property is acyuired by Lender, Borrower'S right to any insur�nce policies and proceecls resulting from
<br /> � ' damage to thc Property prior to tl�c�scquisition shall pass to Lender to the extent of the sums secured by this Security Instnimcnt
<br />� immediately prior to thc acquisition.
<br />__ 6. Occupancy, Preservatton,Matntenunce and Protection of the Property;Borrower's Loan Application;Leaseholds.
<br />� Borrower shall occupy,establish,and use the Property as Bonower's principal residence within sixty days after the executio�of
<br />"� this Security Instrument and shall continue to occupy the Property as Bonower's principul rcsidenee for at Ieast one year after
<br /> the date of occupancy,unles, I.ender othcrwise agrees in writin�,which consent shall not bc unreasonably withhcld,or unless
<br /> � extenu3ting circumstances exist which are beyond Borrower's control. Borcower shall not destroy, damase or impair the
<br /> �`' Property, allow the Property to deteriorate, or commit watitc�n the Property. Borco�vcr shnll be in default if any forfeiture
<br /> uction or proceeding, whecl�er civil�r criminal, i�begun that in Lender's good faith judgment could result in forfeiture of the
<br /> Property or otherwise materiully impair thc lien creatcd by this Security Instrumcnt or Lcttder's sccuriry interest.Borrowcr may
<br /> cure such a default and reinstate, as provided in paragraph I 8,by causing the action or proceaiing to be dismissed with a ruling
<br /> that, in Lender's gocxl faith dctermination, precludes forfaiture oF the Borrower's interest in the Property or othcr material
<br /> impairment of the (ien creatc:d by this Security L�strument or Lender's security interest. Borrowcr shall ulsn be In default if
<br /> Borrower, durittg the loan zp}�lication process,gave muteriutly fulse or lnaccurate i�ifi�rmution or statements to Lender(or failecl
<br /> to provide Lender with any mrterial informatiun)in connection wiih the loan evidanced by the Note, including,but not limited
<br /> to, representutionr conceming Born�wer'r orcupancy of the Propeny ax a principal restdeiuc.If this Security Instrument is on a
<br /> leaschold, Borxower shall comply wlth all thc provisions o[thc Icasc. If Barrower acquires fcc titic to thc Property, thc
<br /> Ieusehold and the fce tide shall not merge unlc.r•s Lender Agrees to the mergcr in writing.
<br /> 7.ProteeUon of Lender's RlghGti in the�'roperty. It Barruwer fuilti to perliir�n thc ru��cnant,anJ agrcemrntti rantaineJ in
<br /> � this Security Instrumcnt. or thcrc is a Icgal proccrJing tlwt may }iEnificandy affcrt L�ndcr's rights in th�°Pr��prrty (+urh ati a
<br /> � procceding in bankruptcy, probatc, for condcmnation or ti�rfciturc or w cnforcc luwti nr rcgulatiom), then Lcnder may d�i and
<br /> Qay ti�r whatever is necessury to protect thc vuluc of the Prnperty und L.ender's rights in the Propei�ty. L�:nder's actions muy
<br /> mrludr navino anv cume .�+rum�� hv a livn auhirh lu�e nrinritv nvrr thie Srruritv IneNVnv•nt :mnr:�rinv in vnurt nuvinv
<br /> � ..."'-' r_,,...�. __� ._.... . '--"- � . .' _ • '� ' � ---.". .-- "-"'---'• -rr---'--v -" '."-'• c'-•-"o .
<br /> rcasnnuble attarneys'f'ces and cntcring�m thc Pmperty to mukc rcpairs. Although L.endcr may tukc actiun under this parugrAph
<br /> 7, Lender doeti not have to do so.
<br /> Any amounts disbursed by I.endcr u►�dcr this parngraph 7 shall becume additionul debt of' Bonowcr secured by this —
<br /> Sccurity Instrumcnt. Unless Borrower•rnd L.ender agmc to oiher tcrms of payrnent,thcse amounts shall bcar interest from thc
<br /> date of disburscmcnt at thc Notc rc�te and .hall Hc peyahle,with intcrc�t, upun nc�ti�r from G:�idrr to B��rrc�wer reyuesting �
<br /> payti�ent. e
<br /> !i. �'vlort�t�e Insurance.If I.cnder requircd mortgage insur�nce a,a conditiun ut'making the loan secured by this 5ecurity !�
<br /> instrument. Borrower +hall pay Ihe premiums requircd to muintain the mortgage insurancc in cFfccL If, for any reason, the •
<br /> mortga�;e insurance coverage reyuired by Lender lapses or ceases tn be in effect.$arrower shaU pay the premiums required to -
<br /> obtain covcrage substantialfy cyuivalcnt t�� thc mortgage insurancc previously in et'fcc:t,at a ce�st substantially cyuivalent t�� thc w
<br /> coxt to Borrower of the mortgage insurancc previcwsly in effert. frum an altemate nh�rtgage insurer apprcived by Lxnder. IF _
<br /> - ro�z oi� Form 3028 9/90
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