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<br /> �- ' The Funds shull be held in an insdtution whose deposits ure insured by a federal agcncy, instrumm�tulity. ��r cntity _„
<br /> (includtng Lender.if Lender is such an instttution)or in any Federal Home l.oan Bunk. Lender shnll apply thc Kund�tu pny tl�c �
<br /> Escrow Items. Lender may not charge Borrower for holding and applying the Funds,annually mal y�in�the eKri�w nccount,ur =
<br /> ..b verifying the Escrow Items,unless Lender pays Borrower interest an the Fund�and applicabte law permity l.ende�to muke�uch _
<br /> � a charge. However, l.ender mayrequtre Borrower to pay u one-time chargc fur an independent real estate tax rcporting servirc �
<br /> used by ixnder in conneccion with this loan. unless upplicuble law provides otherwise. Ualess un �greeme�n is made or �
<br /> . - ,�' npplicabla law requires interest to be paid,Lender shall not be required to pay Horrower any interest ar eamingn on the Funds. _..
<br /> Borrower and Lender may agree in wnting. however, that interest shall be paid an the Funda.Lender shsll give to Borrower, _
<br />°' ', ;" withc�ut charge. an a�u►ual ac�:ounting of thc Funds, showing credits and dehits to the Funds end the purpose for which each
<br /> debit to the Funds was made.The Funds are pledged as addidonal security for sil sums secured by this Security Instrument.
<br /> If the FundF held by I.ender excee�the amounts permitted to be held by applicabie law. Lender shall account to Borrower
<br /> ��..-�"'� for tha excess Funds in acwrdance with the requirements of applicable Iaw. If t he amount of the Funds held by Lender at any
<br />-_-_� time is not sufficient to pay the Bscrow Items when due,Lender may so nodfy Borrower in writing,and,in such case Borrower
<br /> shall pay to L.ender the amount necessary to make up the daficiency. Borrawer shall make up the def ciency in no mare than
<br /> ' F� twelve monthly payments.at L.ender's sole discretion.
<br /> Upan paycnent in fult of ali sums secure� by this SecurIty Instrument,Lender shall prompdy refund to Borrower any _
<br /> Funds held by I.ender.If.under paragraph 21,L.ender shall acqwre or sell the Properry,Lender,prior to the acquisition or sale
<br /> of tha Pmperty.shall apply any Funds held by Lender at the time of acquisition or sale as a credit a;ainst che sums secured by
<br /> _ � this Security Instrument.
<br /> �*�' � 3.,Appltcatton of Payments.Unlessapplicable law provtdes otherwise.all payments received by Lenderundor paragraphs
<br /> t, .�.
<br /> •• 1 apd.2 shall be appliad: first. to any prepayment charges due under the Note;second.to amounts payable under paragrap :
<br /> = �r. thitd���a•+ntarest due•fourth,to principal due;end last,to any late charges due under the Note.
<br /> - q�.�targes;Lteps. Borrower stiall pay alt taxes,assessments, charge$,fines and impositions attributable to the Property
<br /> wliicJ�,mnv attain priority over this Secudty Instrument, and lea.sehold payrnents or g�round'rent�w�f�tly��AOW imw d�iret Iv �
<br /> :�;��x�--— these ot+ligations in the manner pmvxdeu in paragmpii i.UI 11 ltut�wu iu u�wt�iwauw.. �.a�w....��.�«.r-� ..--
<br /> to the pe�on owed payment. Borrower shall prompdy furnish to Lender ail notices of amounts to be paid under this paragraph•
<br /> If Bonower makes these paymants directly. Borrower shall promptly furnish to Lender receipuevidencing the payments.
<br />'°�-�'_�� Borrower shall�romptly discharge any lien which has prioriry over this Securiry Instrurnent unless Borrower:(a)agrees in
<br />:-`,� writing to the payment of the obligatian secured by the lien in a marmer acceptable to IIxnder,(b) contests in good faiih the lien
<br />`-�'�� by, or defends against enforcement of the lien m, legal pro�eedings which in the I.ender's opinion operate to prevent the
<br />�+�%.� enforcement of tlie liea; or(c)secures from the holder of the lien an agmement sadsfactory to Lender subordinating tha lien to
<br />---== this SecurIty Instrument. If Lender determines that any part of the Praperty Is subject to a lien wh{ch may attain prlarity aver
<br />=?� �his Securlty Insuument, Lender may give Borrower a notice identifying che lien.Borrower shelll satisfy the llen or tAke ane or
<br /> ''"'�"'� more a6 the actions set foiih above within 10 days of the giving of nodce.
<br /> - � S. Nazerd or Property Insurance• Bc�I'1'pWer shall keep the improvements now exi�ing or hereafler erecte�t on tha
<br />-�:'�,�� Property insure�i against loss by fire,hazards included within the term "axtended coverage"and! any other,haza�ds. inaludiug
<br /> `�-v �loacls or Q�xxtQig. ior wfiich Lender rcc�uirca iiisurance. This i�urance shall be snain_Lained in the amountc aad foT the perlods
<br /> `�;�;� that I.ander requires.The inswance carner providing the ins�rance shall be chosen by Barrower sub,�ecc ta LerRder's�ap�jovat
<br />°�ys�r„� wtuch shall not be unt�easonably withheld. If Borrower fails to maintain coverage described�bove, I.ender may,at I.ender's
<br />----_ option,obtain coverage to protect Lender's rights in the Property in accordance with paragraph 7.
<br /> - �'"'-- AU insurance policies and renewals shall be acceptable to Lender and shail include a swndard mortgage clause. Lender
<br />-- shall have the r�ght to hold the poftcies and renewals.If L.ender requires,Borrower shall promptly give to I.ender all receipts of
<br /> paid premiums and renewd not�ces.In the event of loss,Borrower shell give prompt nottce to the insurance carcier and Lender.
<br /> �—�— Lender may make proaf of loss if not made promptly by Borrower.
<br /> ----= IJnless Lender and Borrower otherwise a�rce m wnting.insurance procee�is shal l be applied to restoration or repair of the
<br />-_--- property damaged,if the rectoration or repair is economically feastble and Lender's securtty is not lessened. If the restoration or
<br /> " — repair is not economically feastble or Lender's secudty would be lessened, the insurance prcxeecis shall be applied to the sums
<br /> secured by thia Security Inst�ument.whether or not then due. with any excess patd to Borrower. If Borrower abandons the
<br /> � property,or does not answer�vithin 30 days a not�ce from Lender that the insuranoe carrter has offered to setcle a clalm.then
<br /> Lender may cotiect the insurance proceeds• 1-ender may use the proceads to repair or raWre the Prope�ry or to pay sums
<br /> secured by this Security Instrument.whether or noi then due.The 30-day pedod will begin when the nodce ie g[ven.
<br /> Unless I.ender and Borrowor otherwise agree in wrlting. any application of proceeds to principal shall not extend or
<br /> -� -� postpone the due date of the monthiy payments referred to in paragtaphs 1 and 2 or change the amount of the paymente• IY
<br /> under paragraph 21 thB Property is acquired by I.ender. Borrower's nght to any �nsurance pohcaes and proc�ecls msulpng from
<br /> — damage to the Property prior to the acquisition shall pass to L.ender to the eatent of the sums sxared by this Security Instrument
<br /> immediately prior to the acquisltion.
<br /> - -- 6,pocupancy,Preservation,Maintenance and Prat¢ction of the Property;Borrower'e Loan Appi�cat[on;Leaseholds.
<br /> Bormwer shtill occupy. eatab�ish,ettd use the Property as Borrow'er's principal reside[toe within sixry days after tha execution of
<br /> - - thia Security Instrument and shall cont9nue to oocupy che Property as Borroaer's principa! raidence for at least one year after
<br /> the date of oxupancY, unless Leader otherwise agrees in writing. which consent shall not be unreusonably withheld,or unless
<br /> extenuat�ng circumstances exist whlch are beyond Borrower's control. Bomower shap nat demoy.dama$e or impair the
<br /> Property,allow the Propeety to deteriorate,or commit waste on the Propecry• Borrower shall be in default if uny forfeiture
<br /> — action or prooeeding, w6ether civil or criminal,is begun that in L.ender's good faith judgment could result in forFeiu►rc af the
<br /> property or athenvise materiallY impair the lien created by this Security Insm►ment or Lender s security inteKSi•Borrower maY
<br /> - cure such a default and reinstate,as provtded in paragraph 18,by causing the action or proceedtng to be dismissed witi►a*uiin�
<br /> -- that, in i.ender's good faith deternunation, precludes forFeiture of the Borrower's interest in the Property nr uther m�er►a1
<br /> '� impairment of the I{en created by this Security Instrument or Lender's security interest. Bomnwer shall also ba in default if
<br />`'��`?"'" Borrower.during the loan application process.guve materially fals$or inaccurate information or statemea�ts to�.,et�der(or failed
<br /> ''�"� to provide 'lxadev with aay material information)in connection with the loan evideneed by the Note. including.but not limited
<br />::���
<br /> --� to,representetians wnceming Borrower's occupancy of the Property as a�rincipal residence.If tht�.�CUrity Instrument ia on a
<br />-.-,-��„�� leasehoid, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee dtle to the Pr+operiy. the
<br /> _��r�� leasehold and the fee title shall not merge unless L.ender a�rees to the merger in wriring.
<br /> � °a'`"•� 7.Protection of Lender's Rtghts in the Property.If Boirower fails to perform the covenants and agrcements contained in
<br /> -..::�
<br />=-°""`'-" this Security Instrument,or there is a legal pnoceeding that roay significandy affect Leader s rights in the Property(suc es a
<br /> -.'-,.C 4.i
<br /> proceeding in bankruptcy,pmbate.for condemnation or forfeiture or W enforce Iaws or regulatioas).then Leader may do
<br />---- - oav for whateve�is a�ry to pmtect the value of the Property and Lender's rights in tde Propeity. Lender's acdons may
<br /> �L3� Q�r.r:►�. i.w..�.wo..t omm�rino itt CAIM_ DflVII1H
<br /> '�� u'� Ii1C1Ud6 paytng any sums secut+2A by a iien witlCR Rif� [7tiviiij v�ci uua�swr..� ••....+.....---. -rr---o -� • -
<br /> -_�::;,.,�.;�'r reasonable attomeys'fees and entering on the Property to make repairs.Atthough Lendar rnay take action under this paragraph
<br />;����-''` �; 7,Lender does not have to da so.
<br />_� .. Any amounts disbuisad by Lender under this paragraph 7 ahall beoome addidonal debt of Borrower secaae�ed by this
<br /> - ~ '�: Securiry Instiument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear inteQest from the
<br /> date of disbursemeat at the Note rate and shall be payable, with interesi,upon notice fmm Leader to Borroaer requesting
<br /> :�", payment.
<br /> • `' 8.Mortgage Insurance.�If I.ender require�cnortgage insurance•as a condition of making�he l�an sea►red by this Serurity
<br />�� ��� � Insuument. Bomower shal! pay the premiums required to n►aintain the raortgage nnsurance in effeci. Tf,for any reason. the
<br /> �.�P�K ��.` mortgage insw�ance covernge�required by Lender lapses or ceases to be in effect.Borrower shall pay the premiums required to
<br /> < •r. � � obtain coverage subseandaily equivalent ta the mortgage insurance previously in effect,at a cost substantially equivalent to the
<br /> �•_ :�.�fi.•��.; cost to Borrp�ver of the mortgage insurance previously in effect.from an alternate mortge�e insurer approved by Lender. If
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<br />-��='=-��}— 4
<br /> � P�z of� Form 3028 9l90
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