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<br /> ` < The Funds .halt be held in an ins[iturion whase deposiu are insured by a fc.Kier,�l agencw. in+trumcntatity, or entity � .;_ ..,�Y. .
<br /> � '<•� (inciuding Lender.if Lender is su�;h an institutian)or in any Federal Home Loan Bank.Lender shall apply the Fund�to pay the �.�'�s.s;-._:�..:'�:,'.
<br /> � . Escmw Items. Lender may not cl�rge Barrower for hotding and appl}ring the Funds, annually analyzino the eseroW�acmunt,or ��;, ' .''��`' •
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<br /> � ' • verifying ihe Fsemw Itews.unte�s Lender pays Borrower interest on the Funds and applicable!aH permits Lender to nxdce�cb ' .
<br /> � ' a charge. However.Lender may requiz,e Barrower to pay a one-time charge for an indepertdent real estate tax r�poning u�•ice �,: � �..
<br /> ' °`� used 6y l.ender in rnnnection with this loan, unless applicable law provides otherni.e. Unle�� an agrcement is made or ,
<br />' , � : apptipble law requires interest to be paid,Lender shall not be required to pay Borrower:u�y interest ar earnings on the Fund.. , . �
<br /> . �,: Borrowes and Lender may agree in wreting,however,that inter�st shall be paid on the Funds. Lender shall gn�e to Burro��cr. . ;. .
<br /> ' �•,z without charge, aa annual aceounting of the Funds, showing credits and debitc to the Funds and the purpose for which r.uh . � ,
<br /> � - � debit to the Funds was made.The Funds are pledged as additiunal security for afil sums secured b}•thi.Security tr�trument.
<br /> "' .. �; If the Fuads hetd by l.ender excxed the amounts per[nitted to be held by applicable law.Lender shall account to Borraurer � . ,
<br /> � ' _ for the excess Funds in accordance with the requiremeats of applicable law. If the amuunt oF the Funds held by Lender at:ury __ -- _- __�
<br /> - - dme is not sufficiem to pay the Escrow Itecn�when due,Lender may so natifY 6orro�ve�in writing.and,in�uch case Burrow•cr �' _ _. .,_. ,
<br /> -. . shall pag to Lender tke amount necessary to make up the:defici�acy- Borrower shall make up the deficiency in no rt�ore than ` r
<br /> . � - � twelve monthly pay�tnents.at I.ender s sole discretion. :. : • ;.; _ , �
<br /> � Upon pa)ment in full of at! se�ms see�aied by.�his:Se�ur�tL Inst�ent. Lender shafl pcomptly refund to Barrou•er any
<br /> � ` Funds held b}�l.ender.If.under,�iatagcaph�2t,t,e�t3,�r shail ac�re oi3r,��ahe Property.Lender,prior to the acquisitian or 5ale ; , '
<br /> � ,�,,_ . . • of.the.Pmp�rty,shall aPP�Y�y�Funds heid by Lenc�r at the tim�af a�c{�tasiau::or sale as a c�edi�against the sums secuntd by
<br /> : �` this Security Instrument. . � .�. .�: ,. : '�.
<br /> , •�'� ' �`u 3:Appticaztion of Pay��;n,ts.iTnless appiieahfe IaB+provides othern�i�,a11��'�-�".s�reeen'ed by lxnder under puragtypht+ �-
<br /> ,•'<.%"� ' � • $ ment es due ander th€7ao:e;4�c�uac�.�:a�twnu Qayahle under pArag�ph 2: _
<br /> � � 1 and..shail 6e applied:•6rsL;:tu as�r P�? �� _
<br /> . �:�` third,to interest due•fowTii.�'to�ptincipa!dae;and last.to any late chaaa��dus i�der�?ie l�ota _ �
<br /> 4.CGaiges;Ltens. Borcower shali pay�.all taxes,assesseneats..cn�es.fuees a�z��n�utians attributable to the Property .
<br /> �. �,_ :
<br /> ''°�` a•l�t'tch may attain priority uvec this Sezuri�y..I�eni.ansi ieasebnld�+a��enL avr g�;rim8 rents.if any. Bamower shali D�Y -�-�� _
<br /> % t$e�:obligations in the manner provided in paragraph 2t;ar if uot�aid�ui.�at ma'?ne�;�iTroiver shall pay them on time direcdy ,
<br /> . .. ';�K fQ;the peraon owed payment.Boaower shaIt p�mptly:furi�s�►to i.end�er afl notic;s�#`?mounts.to be pa�Q under this paragraph. ,:' ;.
<br /> •.:`;; I€$orrswer Ena[ces these paymenu directl�.�a€�a*er shati�mmPUY feFra'ssh to I�dec rereipts eyidencing the payments.
<br /> • = ti ' Burr�wer shall promptly discharge aay tien nhi�h has priaruy�v�ec zhis Securiry tnstncmern unless Borrower:(a)agrees in � �,. __
<br /> � � ...;�:. writing to the_payment of the obligation s�red b}c'�e lien i�a�ranneracceptabte to l.ertdsr(bjcnntests in good faith the lien �a-
<br /> � - �F` � by, or defend�against enforcement of t6e'lieu'i�. 3'aga:pn��"s,''which�in the IRrcder�s"aP�nion operate to prevent the , .s«� '�''=
<br /> ' �. `���f'���� enforcement of the lien:or(c)secures frum.the�!o:3,�r af�he tien an agmement satisfactory to Lender subordinating the lien to ' .� -_
<br /> .�. c�75�'�`�'r,•:�:���`�_
<br /> �in�.s��;. �e��. this Security Instrament. If Lender detem�in��'Zat any.parc of the Pmperty is subject to a lien which may attain pnority over ;_-'��.
<br /> ' ' '��`'� ° '�%` this Security Instrumern,L.ender may�ive�r�cvr,r a nqnce identifying the lien.Borrower shall satisfy the lien or take one or .
<br /> ` f r:`�:�p`'��' more of the actions set forth above within 1D.days of the giving of notice. • —�
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<br /> 5. Ba7ard or Prope�ty Imvranne:�tu.r=flwe��s.�1� keep ahe improvements nnw eaisting or hereafter erecKed on the _- ,,,,.�
<br /> • '•f� Property insured against toss by fire, ha�an3s included vuithin the term"extended coverage"a�any other hazards,inciuding � �-�.�
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<br /> �.,;,.�;'; : ' �. ;; ftaads or floading,for which Lender reqnines inswanae;;Ffiis insurance shalt be msuntained in the amounts and for the periods ,: ����._
<br /> � :_. ' �: §� thst I.ender requires. The insvrance carrier providing:tiie�imsurance sha11 be chosen�by.&�rrower subject to Lender s approval � , _
<br />- "," � ' which shall not be unreasomsbly withhelcl:fi Burr�wer fasls to maintain coverage;f,asccibed above. Lender may.at Lender s
<br />.. . . :����� � option.obiaincuverage to protect[xnder'�:r'sghts i�tha d'rrnperry in accordattce with parasraph 7. t '
<br /> fi 1�� °'- p11 insurance policie�and renaicsls shall 6e�a��abls to'-�.izr a�►d shall indude a s�n�3rd mo:t��,;clause. l.ender ��"`"
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<br /> �-. ��.; ', shsill have the r7gi�t to hald�the.�liuiai,and rzu�•�:.If�.eadar n�ucr•�.Borrower shall pramptEy:give to l.end��all receipts of -
<br />'%•�;; ,:' ::`,}., , pa;d premiums and renewai.nnno�.In the ev�ut�o[•ioss,..'�►�i►'et si�r�lI give prompt notice to t�*�e ii�sutance carre2r and Lender. = ---
<br /> :-`-, ;'�:��,�s �� Lender may make proof of tpss if not made bJ�amptl_�b�t.�'arroa•ec . �;': .
<br /> '-���•'° [3ntess Lender and Buctuwer otherws�.�agree�ar�';'ct�S•ansursnce Proceeds shall be applied to restorairon or repair of the
<br />, " �� "T�`�� � Property dumaged.if the restoratton ar c�"srzs ecanamically feasible and Lender's security is not lessened.If the restorauon or ' " -`
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<br /> � ; ,� repair�s nat economically feasible ar LenG+er's security would be lessened.the insurance proceeds shall be applied to the sums rl_
<br />�'.� ' secuted by this Security lnstrument, wheth�r or no t t he n du e. w i t h a ny e x c e s s p a i d to Borrower. If Borrower abandons the
<br /> '�'` ' ' ''� Properry.or does nat answer within 30 days a notice from i.ender that the iasurance carrier has offered to settte a claim, then
<br />:`.��,:".,=; . . �'`•'; [.ender may rnllect the insurance praceeds. Lender may use the procced.s to repair or restore the Property•or to pay sums � ;-: :�,;��~
<br /> r�• - se�•ured by this S�rity Instrument.�vhether ar nat then due.Tf�e 3Q-day period wi!{•begin when the notice is given. __
<br /> tlnit�.E.ender ancl Borrower atherwise agree in�wreting. any appiication�f proceeds to.principal shall not eatend ar __
<br /> _ . . � • �'.,,:�„ postpone the due dase of the monthiy payments referred to in p�.:�:�ra�phs 1 and Z or change titz amount of the payments. li 4�i� :._
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<br /> • ..-,•f• under paragr.�pfi��l the Property is acqai►��6y Lender;�bncwec}s.�rglri to any insurance policaes aMd proceeds resutting from �;
<br /> �,+;_ , .: ��� damage to t6e Property prior to the arqo�sit�aQ shtill pi�:c tc.l�nder Yc'the extent of the sums secuzac2 diy this Security Instrnment - _
<br /> �,�a •, `, imm�diatet prior to the acquisiuon. . . l,easeholds. :�
<br /> . . .. :,!°:, 6.Ooc pancy,Prese�ntion.Mai�apnce a�d�rnaxi`tion oY t9�e Property:,Borrower's i.oan Apg�nc'.s�aa;
<br /> � ' �•' " Borrower shall occupy.establish:an�use�:��.Propecty a�13onower'�principa!residence within sixty days aftee Yhe execution of ;. , �, _
<br />- • . this Securiry Instrument and shall rontiaue so occupy the Properq�;.�s Borrower's principal residence far at l�st one year after :�;,�:�•
<br />- . . ':�`..i:�� the date of accupancy.unless Lender c�3i�ise agrees�n.writing.c��ich consent shall not be unre3sonabiy act�held.or unless ' _�
<br /> 4.,�'�-�.-_.
<br /> - � � � � �� �: extenuating circumstances exist which z.-e beyond S�cu�wer's control. Borrower shall rmt desuoy. damage or impair the
<br /> .�: " � ���•.< Ecnperty.allow the Propeny to deteriorate, or cornmit�+waste on the Property.. Borrower shalt be in deFault a°s any forfeiture . .
<br /> ..,,SJ� .. �.J. �.'.i.
<br /> °� .};�r•�:, , ac�+ion or proce�din�, whether civil or criminal,ts�egun:that in Lender s goa��`�i�judgment could resulE i^fatfe�ture of the :
<br /> � � . ` Ftitiperty or ozfnerw�se muterial�y impair the lien�created'by this Sea��ty Instnimen't or Lender's�security interest. Borrower may
<br /> t
<br /> - ' ' � � .+ cure such a d��fault�tmd reinstate.as pr�w adod i�l paragraph 18.By ctraytng the action ar psoceedin�to be dismissed with a ruling .
<br /> • that, in I.e�clnr�s gaod faith detcrminttzian, preclttdes forFeiture��tEhe Bortower's interest in tize Prop�erty ar other material , ,
<br /> - ' � ' � � impairment of the lien�reated by thi�..Secur:ttr l:t4tr.�ment or L.e�:d�r's securc�;interest. Bor�ower shall also 6e in default if ..
<br /> • - �� '`:' Bnnower.duriag the fann.ttgplication proc�ss.g��e�m�rxtially false or inactu�te�infamaation os statements to Lender(or failed � • .
<br /> ; :� �.��,t,;�; �
<br /> ,..� ,. to provide Lcnder with tuiy m�ate�iaf infurr,��:ion;•i�cannection with.the��t"�wid�noad 6y the Note.including,but not limited
<br /> . . ti�Sry,�4,t,�,�, ta.represemutians conc�rying Eurcem��"�•.acesp��y of the Propertr�aa a p��io�Pt►1 res'rQence. If this Security instn►ment is on a
<br /> , ,.�,rr;,,,ti,T: leasehald. Bnrrow•er shFill compl;� ���n ril� `t3tm piovisions of�tho tasu�.�1RBurrauer acquires fee title to the Property. the
<br /> �., . leaschold and ths fee titld�:.U'_l:hoi•rn�erg�unie�s Lender a�rae�7o��.moigerin�writinp.
<br /> •'.,:,ti:;. 7.Protectlon of I.ar�Ic:r�s.R��v ia x•ht Fre$ertu,.+.f�iys��tt,vPr�aii.y to p�:r.`acrc��the covenanu and agn�Ments contained in . . ,
<br /> :;.,:;,, this Security Insitumeni,;�nr�t�hc:e,is a��d��+ ,p�ca,:'vE!iag�.ha::n�y.significantly af_�t Lender's rigflu in the Pr��erty (such as a .
<br /> °��i:;� proceeding in bankruptcy.�r�s.'�alc. farceY?•.s.emnsi�ran oriarta�unt•ar to enforce ld+�us or regulationa),then Lender may do and ,
<br /> n
<br /> '� pay for whatever is necessary to prat�;��^tr valu� a��tiia•F'ropersy•and Lendei s rights in the Property. Lender's actions roa}�
<br /> � incWde paying any sums secured�by��a ti►m whic�r gms prio�ir�j over this Securiry instrumeni. appearing in couR. {sayti� ; ;,: �.
<br /> _�; � . rea.wnable attamey.c' fees and entering�on ehe ProQerty to m�ke repuir�.Although Lender may take action under this paragtaph� , �
<br /> • 7,l.endet does not hayc to do so.
<br /> • Any amounts disbursed by Lender ander tivs�aragraph 7 shall bemsar additional debt of Borrower secured by this .
<br /> � � 5ecuriry tnstrument. Unless Borrawer and Lender agree to ather terms of paym�nt,these amounts shall6ear interest from the •
<br /> . ' • datc of disbursement at the Note rate and shall be payable. with interest, upon notice from Lender to Borrower requesting
<br /> -`` .' . payment. - �
<br /> 8.Diort�age Iosurattce.If Lender required mottgt�e insurartce as a candition of making the toan secured by this Securlty
<br /> � � � instrument, Bonower shali pay the premiums reaauinid:to�maintain the mortgage insurance in effect. If, for any reason, the ,
<br /> � martgage insurance cover�ge required by L.ender lap�as or ceases to 6e in effee:. Sorrower shall pay tho pn�cniums required to •
<br /> � . obtain rnverage substanti�lly eyuivaTent t��ihe moe^guge�insurance previously in e:�iect.at a wst substantially equivalent tn the
<br /> ' cost to Bc�trower��f the mongage insurance previuusly in effect 8:om an atternate martgage insumr:�pprot•ed by Lender. If
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