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<br /> � , � Thc Funds �hall be hetd in an institution whose dcpasita are insured by a federai�ency. �ntit��.�ntnii�ry,�ntiry .
<br /> ,{ � (including Lender,if l.endcr is such un institution)ar in any Feder.al Nome Loun Bank.Lcnder shull npply thc Fund.ti ta pay the —
<br /> A � Escrow items. l.ender may not char�e Barrower for holding and applytn�the Funds,unnuAlly :umiyxin�the escrow uccc�unt,cir
<br /> f veritying the Escrow Items.unless l.ende�pays Honower inereu on the Funds und upplicubie law pern�its I,ender w make such ---
<br />- jr a charse. Huwever.Lender may require Borcuwer to p�y a one•ticne chur�e fbr un independent rcul estute tux reporting service =
<br /> c used by Lender in cannectfun with this lo:�n, unless upplicabic law prnvides otherwise. Unlesz an uyrcement is made or _.
<br /> � applfcublc law mquires interest w be paid,Lendcr shall nut be rcyuired to puy aarrowcr:�ny intcrest or carnin�s an thc Funds.
<br /> � Borrower und Lender may agree in writing, however.that intercst shull be paid on the Funds. l.ender shull �ive to Borrower.
<br /> � � wtthout char�e, an annual accounting of the Funds, showing crediG+und debits to the Funds and [he purpose for which each
<br /> '� debit to the Funds wus made.The Funds ure pledged as additional security for up sums�ecurcd by this Sec:urity Instrument.
<br /> - If the Funds held by[.ender exceed the amounts perrnitted to be held by applicable law, Lender shall account to Bunower =-
<br /> � for the excess Funds in uccordance with the requirements of applicable law. If the amount of the Funds hetd by Lender at any r=
<br /> :'��'-��--' ttme is not sufficlent to pay the Escrow Items when due,L.ender may so notify Borrower in writins.and.in such case Horrower
<br />- shall pay to Lender the amount necessary to make up the deficiency. Borrowcr shall make up the deficlency in no more than _
<br /> - - • twelve monthly payments,at Lender's sale discretion.
<br /> � Upon payment In full of all sums secured by this Securiry Insuument, Lender shall prompdy refund ta Borrower any
<br /> '��,� Funds held by Lender. If,under parngrnph 21,Lender shall acquire or sell the Property.l.ender,prior to the acquisition or sale
<br /> of the Property,shall apply any Funds held by Lender at the time of acquisition or sale u.ti a credit aguinst the sums secured by
<br /> ' s this Security Instrument.
<br /> � 3.Applicatton of Payments.Unless applicable law provides otherwise,all payments received by Lender under paragraphs
<br /> • ', I and 2 shall be applied: first. to any prepayment charges due uader the Note;second,to ainounts payable under paragraph 2;
<br /> � . third,to interest due:fourth,to principal due;and last,tv any late charges due under the Note.
<br /> =, 4.Charges;Liens.Borrower shall pay all taxes,assessrnenu,charges,fines and impositions attributable to the Property
<br /> � which mey attain pr�arity over this Secunty Instrnment, and leasehold payments or grouttd rents. if any. Borrawer shall puy
<br /> " these obligauons in the manner provided in paragraph 2,or if not paid in that manner,Borrower shall pay them on ame d3tectly
<br /> .. � �- �1��� w the person owed payment.Borrower shall promptly furnish ro Lender all nodces of amounts to be paid under this para$rap�.
<br />" : �� If Borrower malces these payments direcdy.�arrower shall prompdy furnish to Lender receipts evIdencing the payments. .
<br />�`.;,;;;:<< 'r, ti Rorrower shall pnomptly discharge any lien which hasprionty over th�s Secudry Instrument unless Borrower:(a>agrces in
<br />_'+��•� ' wridng to the payment of the obligetion securec!by the Iien in a manner acceptable to Lender; (b)cantests in good faith the lien
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<br /> � � by,or defends against enforcement of the.lien m, lega�proceedings which in the I.ender's opinion operate to prevent the
<br />°�'��`��• 4 ' enforcement of the lien;or(c)securns£anm the holder of the lien an agreement satisfactory to I.en�der subordinating tbe lIan W
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<br /> ,,� this Security Insuument. If Lender determines that any part af the Propecty is subject to a l�en which may attain pnority ou�r
<br /> �"�'•��'� �'' dus Security Instniment,Lender may give�orrower a notice identifying the lien. Borrower shalt satisfy the lien or take one cor
<br />''':'n m+ore of the actions set forth ebove within 10 days of the givtng of notice.
<br /> '�'�'�-�'1 5. Hazard or Property Insurance. Borrower shall keep the improvemenu now existing or hareafter erected on the
<br /> -• • *•� � --
<br />'*;•� : Properry insured against loss by fire,ha7ards incladed within the term "extended coverage" and any other h�vards, including
<br />�e„_'�� � floods or tlooding.for which Lender requic+es insurance. 'IUis insurence shall be maintained in the amouats and for the perioi9s '
<br />--_��t��.. that Lender requir�s.The insurance camer providing the iaswartce shal(be choscn by Bonower subject to Lender's approval•
<br />�`'�°�n:,,�,_-����� itih3ch shal!nat!�unreasonably w�rhhPlcl.�1f Rormwer fails w maintain rnverage describai above.[xnder may. at Lender's
<br /> �?�'�''k' � option,obtain coverage to protect Lender's rights in the Property in accotdance wath paragraph 7. __
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<br />,?j;;_ All insurance policies and renewals shall bc accepiable ro Lender and shall lnclude a standand mortgage clause. I.ender _
<br />��`�.�� shall have the cight to hold the policIes and renewals. If Lender requtres.Borrower shaii prompdy give to L.ender all receipts of _
<br /> _ --- paid premiums and renewal notices.In tAe eveat of loss. Borcower shall glve prompt notice to ihe i�surance carrier and Lender.
<br />�;�yj�. Lender may make proof of loss if not made promptly by Barower. � .
<br /> --_---=- Uriless L.ender and Borrower otherwise agree in writing, insurance proceeds shall be applied 4u restoration or repair of tlhe
<br /> __ ___ — property damaged.if tha restoration or repair is economtcally feasible and Lender's security is not lessened.If the restoradou ar•
<br />� nepair is not economically feasible or Lender's securiry would be lessened.the insurance proceeds shall be app4ied to thB sums =-
<br />,-�f����� sscured by this Security Insmiment,whether or not theu due,with any excess paid to Borrower. If Borrower abandons the
<br />��_�-�,� Property, or does rtot answer within 30 days a notice from Lea�der that The insurance carrier has offered to settle a claim,then
<br /> - L.ender may rnllect the insurance proceeds. Lender may use the proceeds to repair or restorc the Property or to pay suaos
<br />�.� serured by chis Securtty Instrument.whether or not then due. '!he 30-day period will begin when the notice is given.
<br /> --��� Unless Lender and Bomower othenvise agree in writing, any applicadon of proceads to principal shall not extend or
<br /> _.��„� postpone the due date of the monthly payments referred a in paragraphs 1 and 2 or chaage the acnount of the payments. If
<br /> ___ _ under para�raph 21 the Property is acquired by Lender. Borrov�er's right to any ins�nrance polic[es and prooe�ds t�esultin�from
<br />- --- damage to the Property pr�or to the acquistuon shall pass to Lender to the extent of the suzns secured by ttus Security Insmiment
<br /> " -- ---�•a immediately prior W the acquisiuon.
<br /> �,��;s 6.Ooa�pancy,Presen�ation,Maintensace and Protection of the Property;Boreower's Loan Ap�tlt�atton;I.easeholds.
<br /> —•- -- Bomower shall oocupy,establish,and use the Property as Borrower's principal residGnce within.8bcty days after the exe�utIon of
<br /> � this Securiry Iastrument and shall oonti�ue to occupy the Property as Borrower's pdncipal residence for at least onB year after
<br />=`�� the date of occupancy,unless Lender otherwise agrces in wridng.which consent shall tiot be unreasonably cv,ithhdld,or un[ess
<br /> extenuatiag circumstances exist which are beyond Borrower's control. Botrower shaU not destroy. damage or impair�the
<br /> ----- Property. allow the Property so deteriornte, or commit waste on the Prop�rty. 8orrower shall be in default if any forfeituse
<br /> —_-_------ action ar proceeding, whether civil or criminal. is begun t6at in Lender's good faith judgment oould result in forfeiwc+e of the
<br />-�—�-_ — Property or otherwise materially impair the lien created by this Securit�Instrument or I.ender's security interest.Borrower may
<br />�' cure such a default and reinstate.as provided in paragraph 18,by causmg the actian or,proceeding to be dismissed with a ruling
<br />�� = that, in Lender's good faith determination. precludes fodeiture of the Borrower's intere�a in the Property or offier material -
<br /> - imQairment of the lien created by this Security Instrument or I.ecider's security'interest.Borrower shall also be in default if
<br />=- Bomower.during the loan application process,guve materially false or inaccurate information or statements to Lender(or Failed
<br /> __ `�`�;:;�;°'. to prvvide Lender with any material information)in connection with the toan evidanc�ed by the Note,including.but rtot iiznited
<br />��" - ` to,�+epresentations conceming Borrower's occupancy of the Property as a pr�nclpal residenoe. If this Security Insuument is on•n
<br /> `°�' , `'?'''�� leuehotd. Bomower shall comply with all the provisions of the lease. If Barrower acquires fee tide to the Property: tho
<br />-r:� ,_,:�;:; leasehold and the fee tide shall not mer�e unless Lertder agrees ro the merger in writing.
<br /> i t-.:...t•;;;:::. 7.Frotectfon of I.eudet's Rights in t6e Property. If Borrower fai(s to perform the covenants aad agreements containe�•in
<br /> _'�- -. 4i'.'. this Securi Instrument or.there is a 1 al roceedi tLat ma si flcand affect Lender's ri hta in the Pro e (sach�as a
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<br /> pmceeding in bankruptoy.probate.for condemnation or forfeiture or to eaforce taws or regulations). then Lender may do a�d
<br />_:, Y;;-= . °, pay for whatever is necessary to protect the velue of the Property and Lender's rig,hts in the Property. I.ender's actions may
<br />- - � include paying any sums secur�ed by a liea which has priority over this Serurity Insnument. appearing in court. paying
<br />_=;���xi � � �'� seasonable attorneys' fees anct enterin�on the Property to make repairs.Althou�h L.ender may take action under this paragraph
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<br /> , Any amounts disbursed by Ixnder under this paragraAh 7 shali beoome additionai debt of Borrower secured by this
<br />_ ' - Security Insmiment. Unless Borrower and I.ettder agree to other terms of payment. these amounts shall bear interest from the
<br /> • . date of disbursement at the Note rate and shali be payable.with interest. upon notice from I.ender to Bomower requesting
<br />� � ��. � payment.
<br />' 8.Mortguge Iaswance.If Lender required mongage insurance as a rnndltion of malung the loan secured by thie Securicy
<br />= ` Instrument, Bomnwer shalf pay the premiums required to maintain the mort$age insurcuiee in effect. If. for any reason. the
<br /> `� mort�uge insurance rnvera�e requiced by Lender lapses or ceues to be in effect.Borrower shall pay the premiums requiced to
<br /> obtnin mvera�e substantially equivalent to che mortgage insurance previously in effect, at a cost substantiapy equlvatent to the
<br /> cost to Borrower of the ittortgage insnrance pmviously in eftecs,fi�m an alternate mortga�;e insurer approved by I.ender. If
<br /> _ ' c.,�,�„�s Fomn 3028 9lSO
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