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<br /> The FwiJc shail bc hcld in an institution whusc dcpusits arc insured by a fcdcral agcncy. instrumcntulity, or cndty
<br /> (including l.cnder,if l.cnder iti such un intititution)ur in uny Fcderul Homc I..oan Bank.Lcnder shidl upply the Funds ta pay the
<br /> Bscmw Items. l.endcr muy not churgc Borrowcr fur holding unJ upplyinF thc Funds, �nnu.dly un�dyr.ing thc cscruw�iccount,ur
<br /> verilying tite Escruw Items,uule1s I.c:nJer pays I�urrawcr intcrest cm the FunJti und applicublc luw pennits I.ander tu nwke.uch
<br /> u churgc. Howevcr, I.cndcr may rcquirc l3ur�uwcr to pay u onc•tinu chargc fur un indcpcndcnt rcal cstutc t�ix rcp�ming ticrvicc
<br /> used by L.ender in cu�mection with this luan, unlesti appHcable Isw prov�Je, iNhetwise. Unles, un ugreement is made ur
<br /> applicublc law rcyuires intcrest tu bc paid. l.cndcr shnll not bc required w pay Burmwcr uny intcr�st or curnings un thc Fund;. —
<br /> Barrowcr and L.cndcr muy ugrcc in wnting.huwcv�r, that intcrost shu11 Ix paid on th�Fundti. IAndcr shull givc to Borrc�wcr.
<br /> withuut chargc, un unnu�l uccounting ot'thc Funds, shawinb crcdits und Jcbits to thc FunJs and th�purpc�sc for wh�cl�ench
<br /> debit to the Fundy w;�s mude.The Funds ure pledged uti adJitiun�d �ecurity fur all sums srcured by this Security Inrtrument.
<br /> If the Funds held by Lcndcr excced the umowits pcnnitted to bc hcld by app6cut+lc lu�v. l.ruder,hull u�cuwu tu Burrutvcc �
<br /> for thc cxcess Fwids in uccorduncc with thc rcyuircments of applicublc law. If thc atnount of thc f unds hcld by [.undcr at uny
<br /> timc is not tiufficient to pay thc Escruw Itcros whcn duc, Lcndcr may so nutify Burrnwcr in writing.unJ,in such rusc Borrowcr
<br /> shall pay to L.endcr thc umount necessury tu makc up thc deficicncy. Borrowcr shaU muke up thc deficicncy in no mnre thun
<br /> twelvc monthly payments,at L.cnder's sale discrctiun.
<br /> Upon payment in Pull of nll sums sccured by thi�Security Instrument. L.cnder shall pmmptly refund to Borruwcr uny
<br /> Funds held by Lcnder.If,under paragraph 2l. Lender shall acyuirc or sell the PropciKy. L.cnJcr,prior[o the acquisition or sule —
<br /> of the Property,shull upply any Funds held by I..ender ut the time of acquisicion or sale ati a crrdit aguinyt the sums secured by
<br /> this Security In�trument.
<br /> 3.Applicadon of Yuyments.Unless applicublc law pruviJcs othenvise,all payments receivcd by l,ender undcr puragraphs
<br /> 1 and 2 sl�ali be applial: first, to uny prepayment chargcs due undcr che Notc; sccond,to amounts puyablc unJer pucagraph 2;
<br /> third,to interest due:fourth.to principal due;and last, to any late charges due under the Note.
<br /> 4.Charqes;Liens. Borrower sh�ll pay all tuxes. ussessments,charges. fines and impositions uttributable to the Property
<br /> which may attain priority over this Secunty Instrument,nnd leasehold payments or ground rents. if any. Borrower shall ps+y
<br /> these obligstions in the manner provided in paragraph 2,or if not paid in that manner.Bonowcr shall pay them on dme dtrectly
<br /> to the person owed payment. Borrower shall promptly fumish to Lendcr all notices of amounts to be pa�d under this p:uagr�h.
<br /> �f�arrower makes these payments dicectly,Bonower shull pramptly furnish to Lender receipt�evidencing the payments.
<br /> Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower:(a)agrces in
<br /> writing to the payment of the obligation secured by the lien in a munner acceptable to I.ender; (b)contests in gooci faith the Iten
<br /> by, or defends Against enforcement of the lien in, Iegal proceedings which in the Lender's opinion operate to prevent the
<br /> enfi•rcement uf the lien;nr(c)secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to
<br /> this Security Instrument. If Lender determines that any pan of the Property is subject to a lien which may attain priority over
<br /> this Security Instrument, Lender may give Borrower a notice identifying the licn.Borrowcr shall sutisfy the lien�r take one or
<br /> more of the actions set forth above within l0 days of the giving of notice.
<br /> 5. H�urd or Property Insurance. Bonower shall keep the improvements now existing or hereafter erected on the
<br /> Property insured zgainst loss by fire, haznrds included within the term "extended coverage" and any other hazards, including
<br /> floods or flooding, for which Lender requires insurance.This insumnce shall be maintained in the amounts and for the periods
<br /> it�t Lpsuler *��!i*ps. ThP inc��r�nce canier Qrovidine the insurance shall be chosen by Borrower subject to I..ender's approval
<br /> which shall not be unreasonably withheld. If Borrower fails to maintain coverage described above. Lenaer may, at Lenaer's
<br /> option,obtain co�•erage to pratect L.ender's rights in the Property in accordunce with paragraph 7.
<br /> All insursnce policies and renewals shall be acceptable to L,ender and shall include a standard mortgage clause. l.ender
<br /> shalf have the right to hold the policies and renewals. If Lender requires,Borrower shall promptly give to I.ender all receipts of
<br /> paid premiums nnd renewal notices. In the event of loss,Bocrower shall give prompt notice to the�nsurance carrier and L.ender.
<br /> L.ender may make proof of loss if not made promptly by Boriu�ver.
<br /> Unless Lender and Borrower otherwise agree In wntm�,insurance procceds shall be applied to restoration or repair of the
<br /> Property dnmaged. if the resturation or repair is econumically feasible and Lender's secunry�s not lessened.If the restoration or
<br /> repalr is not economically feasible or Lender's security would t�e lessened,the insurance proccecls shull be applied to the sums
<br /> secuced by this Securiry lnstrument,whether or not then due. with any excess paid to Borrower. If Borrower abandons the
<br /> Pmperty,or does not answer within 30 days a notice from Lcnder that the insurm►ce carricr has offcred to settle a claim,then
<br /> Lender may collect the insurance proceeds. Lender mny use the praceeds to repair or restore the Pruperty or to pay sums
<br /> secured by this Security Instrument.whether or not then due.The 30-day period will begin when the notice is given.
<br /> Unless LQnder and Borrower othemise agree in writing, any application of proceeds to principul shall not extend or
<br /> postpone the duc date of the monthly payments referred to in paragcaphs 1 and 2 or chunge the amount of the payments. If
<br /> _ under paragraph 21 the Property is ucquired by Lender.Borrower's right to uny insurance policies and procecds resulting from
<br /> ' damage to the Property piior to the acquisition shall pass to Lender to tne extent of che�w��,s�:ured by thi�Secnrih;I�tstrument
<br /> 'immedIately prior to the acquisition.
<br /> 6.Occup�ncy,Preservation,Ma[ntenance and Protectlon of the Property;Borrower's Loan Appllcation;I.easeholdq.
<br /> Borrower shall occupy,establish,and use the Property as Borrower's principal residence within sixty days after the execudon of
<br /> thia Security Instrnment and shall continue to occupy thc Propeny as Borrower's principul residence for at least one year after
<br /> the date of cxcupancy,unless L.ender othe►wise agrees in writing,which consent shall not be unreasonably withheld. or unless
<br /> extenuating circumstances exist which Are beyond Borrower's contml. Borrower shall not destroy. dumage or impair the
<br /> Property, allow the Property to deterioratc, or commit waste on the Property.Bonowcr shall be in default if any forfeiture
<br /> action or proceading, whether civil or criminal,is begun that in Lender's good faith judgment could result in forfeiture of the
<br /> Property or otherwise materially impair the lien crcated by this Security Instrument or Lender's security intercst. Borrower may
<br /> cure such a default and reinstate,as provided in paragraph 18,by causing the action or proceeding to be dismissed with a ntling
<br /> that, ln Lender's good faith determination, precludes furfeiture of the Borrower's interest in the Pro�rty or other muteriul
<br /> impairment of the lien created by tl�is Security Instrumcnt or L.ender's security interest. Borrower shall also bc in defnult if
<br /> Bonower,during the loan upplicution process,gave materially false or inuccurate information or statements to Lender(or failed
<br /> tu provide Lender with any material information) in ecmnection with the loan evidenced by the Niue,including,but not limited
<br /> to,rcpresentations cunccmmg Borrower's occupancy of the Prc�peny as a principal residencc. If this Security Instrument is on u
<br /> lcasehold, l3orrower shull comply �vith a1l the provisions of the Iwse. If Borrowcr acquires fee title to the Propeny, the
<br /> - leasehold and the fce title shall not mer�c unless Lxnder agrees to the mer�er in�vriting.
<br /> 7.Protection of Lender's Rights in the Property.If Borrower fails to perF�rm the covenants and asreements conmined in
<br /> this Security Instrument, or there is a legal praceeding that may significantly af(ect Lender's rights in the Property (such as a
<br /> proceeding in bankruptcy,probate, for condemnation or forfeiture or to enforcc laws or regulations). then Lender muy do and
<br /> �ay for whatever is ncccssary to protect the vulue of thc Property and [.ender's rights in thc Property. Lender's actions may
<br /> - mclude paying :ury sums secured by a licn which hy, prior�ty over this Saurity Instrument, appwring in court, paying
<br /> - _• c___ __�_ ...�..,u........r..�.. ..,oL.. ronuirc nteh�.nuh i�n.lor mav t:�ke achnn undcr this DaInCTIIDh
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<br /> 7.L.cnder dces not huvc:to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additionul debt of Bormwcr secured by this •
<br /> 5ecuriry Instrument. Untess Borrower and Lender ugrce tc�other tem�s of puyment.these amuunts shall beur interest from the
<br /> datc of'disbursem�nt nt the Notc ratc and shall be payable, with interest, upon notice fmm Lender to Borrower rcquesting
<br /> paymcnt.
<br />„� 8.Mortgage Insurance. If Lender rcyuired mortgu�;e insurance as a condition uf making the loan secured by this Security
<br />-= Instrument. Bomower shall pay the premiutns reyuim,d ti� maintain the ntortLzage insurance in effect. If, for any reuson, the
<br /> a mortgage insurance cover�ge mquimd by Lender lapses or ceases to be in eft'ect. Barrower shall pay the pn:miums rcyuired to
<br />-- obtuin covcragc sub,tantiaUy equivalent to thc mortgagc insurance previously in effcct,at u cnst substanti3lly cyuivalent to thc
<br /> � cost to Borrowcr of the murtgagc insurancc pmviously in effect, from an altematc mortgage insurer approv� by L,cnder. If
<br /> a
<br /> ve�o 2 0�a Form 3028 9190
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