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<br /> Thc Funds shull bc hcld in an institutian whosc dcposits arc imurut hy a fcdcrai ngency. intitrumcntality or endty
<br /> (including I.endcr, if Lendcr is such un insdtutionl or in any Fedcral Homc I.oan Bunk. I..a:ndcr shull upply thc Fund.�:tu pay thc
<br /> Escrow Itcros. l.cr,dcr may not churgc Borrowcr for holding und applying thc Fund,,annuully analyxing thc cscrow aa��unt.ar
<br /> verifying thc Escrow Items. unless L.ender payh Borruwer intcrest on the Fund,and upplicablc luw pernut+ l.cndcr i�i mukc+uch
<br /> a churge. However, l.ender muy require Borcower tu pay a one-time charge for an inclependent reul estute tux rep�rting servicc
<br /> usc,�l by l.endcr in connectian with this loari, unless applicablc law provides otherwitic. Unless un ugrecmcnt is m��de ar �
<br /> applicuble la�v rcquires intcrest to b�paid.Lender shall nat be required to pay Borrower uny in[erest or curnings on thc Funds. �
<br /> B�rrower und l.ender may agrce in writing,huwever,thut interest shall 6e pa�d vn thc FunJs. Lendcr sh.ill givc tu Borrowcr, '
<br /> without charge, an annual uccounting of the Funds.showing credits and debits ta the Funds and thc purpose for which each
<br /> JeUit w thc Fwidti was madc.The Funds are pledgeci os additional aecuriry for all sums secured by this Securiry Instrument. �
<br /> If the Funds held by l.ender exeeed the arnounts permitted ta be held by upplicable law, l.ender shull accuwx w I3urruwcr �
<br /> far the excess Funds in uccordunce with ttie requirements of upplicable law. If the umaunt of the Funds held by Lender at any �
<br /> time is not sufficient to pay the Bscrow Items when due. I.ender may so notify Borrower in writing,and,in such cuse Borrower �
<br /> shall pay to Ler►�er the amount necessary to rnake up the deficicncy. Borrower shull muke up the deficiency in no more than �
<br /> twelve monthly payments,ut Lender's sole discretion.
<br /> Upon payment in full of all sums secured by ihis Security Instrumcnt. Lender shall promptly refund to Borrower any
<br /> Funds held by L.cnder. If,under paragraph 21.Lender shall acquirc or sell the Property.Lender,prior to the acquisition or sale �
<br /> of tt►e Property, shall apply any Funds held by l.ender at the time of acquisition or sale as a credit against the swns secured by
<br /> this Security Instrument.
<br />- 3,Ap}�Ucattan of Payments.Unless applicable law pruvides otherwise,all payments received by l.undcr under paragrnp s
<br />- 1 and 2 shull be applied: first, to any prepayrnent charges due under the Note; seconJ, ta amaunts payuble under paragraph 2;
<br /> third, to intetest due;fourth,to principal due; and lasb to any late chArges due under the Note.
<br /> 4.Charges; Liens.Bonower shall pay all taxes, asse�sments, charges, fines and impotiitions attributablc ta the Property
<br /> which may uttain priority over this Security Instrument,and lea.�chold payments or ground rents, if any. Borrower shall pay
<br /> these obligations in the manner provided in paragraph 2,or if not paid in that manner.Borrower shall pay them cm time direcdy _
<br /> to the person owed payment. Borrower shall promptly furnish to Lender all notices uf amounts to be paid under this paragrnph.
<br /> If Borrower makes these payments directly,Barrowershall pro�nptly furnish to L.ender rcccipts evidencing the payments.
<br /> Borrower shall promptly discharge any lien which hus priority over this Security Instrument unless Borrower: (a1 ugrees in
<br /> writing to the payment of the abligation secured by the lien in a nunner acceptable to Lender; (b)contests in gaal faith the lien _
<br /> by, or defends against enfarcement of the licn in,legal proceedings which in the I.ender's opinion opera¢e to prevent the
<br /> enforcement of the lien;or(c) secures from ttie holder of the lien an agreetnent satisfactory to L,ender subordina�in�the lien to
<br /> this Security Instrument. If L.ender determines that any pacc of the Property is subject to a lien which may attain priority uver
<br /> this Security Instrument. L.ender may give Bonower a notice identifying the lien. �3orrower shaU satisfy the lien or wke one or
<br /> more of the actions set forth above within 10 days of the giving of notice.
<br /> S. Hazard or Property Insurun�ee. Bonower shaU keep the improvements now existing or hereaftcr erected on the
<br /> Property insured against loss by fire,hazards included �vithin the teim "extended coveruge" and any other hazards, including
<br /> floods or floodin�,for which Lender reyuires insurance.This insurance shall be maintained in the amounts and for the periods
<br /> that ixnder reyuires. Thc in�urur�te:arrier �roridin;iti:insuraec�e �hall he chosen by Borrower subject to Lender's approval
<br /> which shall not be unreasonably withheld. If Bonower fails to maintain coverage described above, I.ender mey. at Lenuer's
<br /> option,obtain coverage to pr�tect Lender's rights in the Property in accordance with paragruph 7.
<br /> All insumnce policies and renewals shall be acceptable to Lender and shall include a standard mortgxge clause. Lender
<br /> shall have the right to hold the policies and renewals.If Lender requires,Borrower shall promptly give to Lender all receipts of
<br /> paid premiums and renewal notices.In the event of loss,Borrower shall give prompt natice to tl�e insurance camer and Lender.
<br /> Lender may make proof of loss If not made promptly by florrower.
<br /> Unless Lendcr and Borrower otherwise agree in wnt�ng, insurancc proceeds shall be applied to restoration or repair of thc
<br /> Property dameged.if the restoration or repuir is economically feasible and L.ender's security is not lcssened.If the restoration or
<br /> repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the swns
<br /> secured by tliis Security Instrument,whether or nat then due,with any excess puid to Borrower. !f Sorrower abandons the
<br /> ptnperty, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim.then
<br /> Lender may collect the insurance proceeds. Lender may use the aroceeds to repair or restore the Property 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 L.ender and Borrower othenvise ugree in writing,any application of proceeds to Principal shall not extend or
<br /> postpone the due date of the monthly payments refcrred ta in paragraphs 1 and 2 or change the umount of the payments. If
<br /> under paragraph 21 the Property is acquired by L.ender.Bc�rrower's right to any insurance policies and praceeds resulting from
<br /> dumage to the Property prIor to the acquisition shall pass to Lender to the extent of the sums secured by this 8ecurity Instrument
<br /> immediately prior to the acquisition.
<br /> 6.Occupansy,Preservation, Maintenance and P►btection of the Property:Borrowcr's Loan Appllcation; Leaseholds.
<br /> Borrower shall occupy,establish,and use the Property as Borcower's principal residence within sixty days after the execution of
<br /> this Security Instrument and shall continue to occupy the Propeny as Borrower's principul residence for at leact one year ufter
<br /> the date of accupancy,unless L.ender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless
<br /> extenuating circumstances cxist which arc bcyond Borcower's control. Borrowcr shall not destroy, damage or impair the
<br /> Property, aUow the Property to deteciorate,ar commit waste on tfie Property. Borrower shall be in default if any forfeiture
<br /> action or proceeding, whether civil or criminal, is be�;un that in L.ender's good faith judgment could result in(orfeiture uf tfie
<br /> Propeny or otherwise muterially impair the lien created by this Security Instrument or Lender's security interest.Borcower may
<br /> cure such a default and reinstate.as provided in paragraph 18, by causing the action or proceeding to be dismissed with a ruling
<br /> that, in L.ender's good faith determination, precludes forfeiturc of thc Borrowcr's interest in thc Property a other material
<br /> impairment of the lien created by this Secunty Instrument or Lender's security interest. Borrowcr shall also be in default if
<br /> ' Borrower,during the loan application process,gave materially false or inuccurate infarniation or statements to Lender(or fliled
<br /> to provide Lender with any material information)in connectiun with the loan evidenced by the Note,including.but not limited
<br /> to, representations concerntng Borrower's oecupancy of the Property ss a principal residenre. if this Security Instrument is on a
<br /> Ieasehold, Borrower tihull comply with ull the provisions of the lusse. If Borrowcr aryuires fcc titl¢ tu tin: Propeny. the
<br />— leasehold and the fee title shull not merge unless Le�er agrces to the merger in writing.
<br /> 7.Protection of Lender's Rights in the Property.if Borrowcr fails to perform thc covenants and ugreements contained in
<br />= this Security Instrument, or thcre is u legal proceeding thut rnay significuntly aftect Lend�r's rights in the Prope:ny (such as a
<br /> proceeding in bankruptcy, probate,for condemnption or forfeiwre or to enfc�rce lawti or regulations),then Lender may do und
<br /> — �ay for whatever is neccssary w protect thc vxluc of the Property and I.ender'ti �ight+ in thc Pr��perty. Lender's actions may
<br />— mclude puying uny sums xecured by a lien which has prioriry over thi. Security Instrument. appe:srmg in court, paying
<br /> ♦�.�.......A t....7..... ,e.a4n nrt�.in undrr thte Dfl(71L�T.7DI1
<br /> reas�nable attorneys' fees and entenng on tne rrop�ny ic� mu�c��Na��:. ..�.�...�t.. ...:.�•.... .:Mi .-----__.._.. _.. . , � .
<br /> — 7. Lender docs not havc to do so.
<br /> -- Any amounts disburscd by Lender under this paragruph 7 shall becomc aJditionul dcbt uf B�ttower�etur��i by this
<br />- Security Instrument. Unlcss Bormwcr and Lender a�rce to c�thcr tcrnis of pirymrnt. thcx am��wu. .hall hcar intcrctit from thc
<br /> �,� date of di,bursement at the Notc ratc and shall bc puyablr. �vith intcrc�t, upon nutirc frum Lcndcr tu Bortower rcyucsting
<br /> -� payment.
<br /> :� 8. b1oM��t�e Insurunce.If L.cnder rcyuimd mortgagc insurancc ati.i cunditian c�t making Uir luan ti�tiur�d hy thiti Se�urity
<br />'°�— Instrumcnt, Borrawcr�haU pay the premiums reyuircd to muintain thc mongagr inwranrc in cffcct. If, fur any rcas��n, dic
<br /> mongage insurance coverage reyuireci by Lender lapscs or reases to he in effect. Bott����er .hull pay thc prrmi�.�m� rcyuired to
<br /> � oBtain r�wcragc�ubstantially cyuivalcnt to thr rnndgugc insuranrc prcviuu,ly in rfTrrt, at a ca�t �uhttunually cc�uivulcnt a�thc
<br /> '� rost t�� Borruwrr uf thc nw�Y�agc in�urancc previously in rflttt, from an :dtrrnatc nu�rtgagr imuRr .ippru��cd by I.cndcr. If
<br /> ;� � .
<br /> i Form 3028 9190
<br />. c'nye 2 0�a
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