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<br /> � � . . whose de sits arc insnm1 by a fedccil agc���in7n�er�a�,fy. �r entity
<br /> fie Funds xh�ll ha held in nn �nstitaaon po
<br /> � 'r��"`':<� tincluding Lender,if Lendcr i��uch an institutionl or in any Federal Nome 1.��►n Bank. Ixndcr�hall appfy thc Fund�m pay the
<br /> � ' Escraw items. Lender mmy not charge BorroNCr For hotding and applying thc Funds,annually an:�lycing the e`cro�v aa�uunt,ar ,
<br /> `.�,;�: � verifying the Esrnnw Ite�ns.untess Lender Pays Borrower intercst un the Funds ai►d applicable!aw perm�t�Lendes to m�tce such .,
<br /> ' a churge. However.Lender may reqnire Borruwer ta pay u one-time charge for an independent real estate tax re�wning service ,;.;.�.
<br /> u�ed by l.ender in connection +vith this loan, unless applicable law provides othenvi�e. Unless an a�ereement �� made °r '
<br /> . : apP!(pbte 1aw requires interest to be paid.Lender�ha11 not be required to pay Bormwer any interest or earnmgs on the Funds.
<br /> ' Borrower and Lender may agree in writing, however,that interest shall be paid an thc Funds. Lender st�a11 gi�e to Barivwer. � �.. '
<br /> � ` ' ., wittwut charge,an annua!accounting af the Funds, showing credits and debits to the Funds and the purpose for which euch
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<br /> �• , debit to the Funds was maQe.The Fureds ace pledged as additional sewrity for all sum+se.�unjd by this Savrity Instrument.
<br /> � If the Funds Iseld by Lender exceed the amounis permitted to be held by applicable law,Lender shall account to Borrower
<br /> ` ' `� for the eacess Funds in accotdance with the requirements of applicable law. If the amonnt of the Fundti held by txnder at any
<br /> �_ `°�� time is nut suflicient to pay the Esrrow Items when due.Lender may so natify Borrower in writing.and. in sunc�ase Borrower -
<br /> _ shali pay to E.ender the amount necessary to make up the deficiency. Borrower shafi make up the deGciency in no more than _
<br /> . twelve monthty payments.at Lender's sote discretion_ .' �,. �
<br /> Upon payinent m full uf afl sums secured bY th�Secuniy Inu���t• Lender shall promptly r�efund to Borrower any
<br /> � . �:'��� •. Funds tteid by Lender.If,u�der p:siagraph 21.L.ender shall acquire ur sell the Property.l.ender,prior to the acquisition or sate ;,�.„� �
<br /> , � of the Pro p e r e y.sha11 appty anY Funds he[d by Lender at the time of acquisidon or sale as a credit against the sums secured by
<br /> . t' . this Security Instrument. _ .
<br /> ' � . 3.Appficat€oa of Paym�ts.Unless applicable taa provides otherwise.a11 paymenu received by Lender under paragraphs
<br /> � a•'�: �• ' I and 2 shall be applied:first,to any prepayment charges due under the Note;second,to amouats payable under patagraph 2;
<br /> " thivd,to interest due:fourth.to principal due;and last.to amr taie charges due under the Note. � •`-
<br /> q.Charges;Liem:.Borrower shaU pay all taxc.'s•assessmenu.charges.fincs and impositionc attribu'..ibte to the Property '.��;`���.
<br /> �• � . wfiich tuay aLtain priority u�er this Security Instrument,and leasehold payments or ground renu. if any. Borrc�wer shati pay
<br /> � ' .� these obli�ons in�he manner provided in pamgraph 2.or if not paid in that manner.Borrower shall pay them on rime directly
<br /> ` . � to the persfle�uwed pay�►ent.Borrower shall promptly fumish to Lender ail notices of amounts to be paid under this paragraph. ,._
<br /> � Y• � `' If go�ow���s th�se pay,ments directly,Barrower shall prompdy furnish to l.ender receipts evidencing the payments. :f
<br /> � � '�•• � � Borrower shall pmmptly discharge any lien wiueFz 4as priorit}•over this Securiry lnsuvmem unless Sorrower.(u?aP,r�s ln ' =.�:,
<br /> writin$to the paymeut.�s,*tf�e obligation secuced bv t1sr�!ien in a manner a c c e p t a k►t e t o L e n d e r.(b)c o m e s t s i3�oad faith the lien .�.�`','���
<br /> � by. or defends aga�:st�racemeiu of the lien �_ li�al pmceedings which 'sn the Lender s opinion apaate m prevent the i:_� �,
<br /> ' enforceme�of the Eic�,•��..�aecuc�f�om the hoiaer of the lien an agreement satisfactor}tn I.ender su'�or.�nating dte liea w ,� , .._.
<br /> ''�`=';::' ��,Q�� [f�-,,,,ec t1�r�ines that any part of tke Properry is subject to�i��utuch may attsin priarity over . ..:•.
<br /> ,. `i�,,:�: this Securit} � '� .• %•,:
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<br /> "���r:•,; '. this Securiay Insmra'�.�=��r T--�°•�T`°B°�T°wer a notice ide�ing the lien.BorroweF s`F-�saiisfy the lien or takc oae or
<br /> ,t-�:;.�� `-�:?+ora���':n lOdays of shegiving ofrutice. . ,si4...,.
<br /> mare of the adioas�s�:. '�':';'``
<br /> : 5. ��,,��,ff�,�,� Q�ace• Borrawer shall keep the imPmvements now ev�;ng or hereafter erected on the ;,<.,�r
<br /> ,'''h r,,.� ���.;��-«�?�ss�:� t:.�ards inciaded within c:=term "extended coverage a.�d any other haTards,.i�tcludinS '-`,:,F,;
<br /> � � �: P.nods ur`_��ca;,�iing.far�.i�Ler�^-�,7'.ires in�urance.This a��:.�ance shali be muntained in the amaurtts anct for the periods _sy.
<br /> ;` t4�'s:.�:.`., that Le;;�r�equires.'i3ze insurance.:.�.'rxr providi^.Q the irr�-s:r'a�x shall be chnsen hy Boaoirer subject to Lender's apgroval s
<br /> " 'T`" which sha!! not be unreasonably withhetd. If Barr�er fails to maintain caverage described above. Lender►nay,at l.ender's _
<br /> . -. ' . op6on.obtain coverage to protecc[.ender's rights�die PraPertY in accordance with paragraph 7. - .._
<br /> Ail insurance policies and renewals sha11 be acceptable to l.ender and shall include a standard mortgage clause. Lender `
<br /> � , shall have the right to hold the policies and renewals.If Lendzr requires.Borrower shall promptly give to Lender�all receipts of �� J_
<br /> � paid premiums and renewal notices.In the event of loss.Borrower shall give prnmpt notice to the�nsurance carrier and 1-ender. �`�
<br /> � Lender may make proof of lass if not made promptly by Barro�ver.
<br /> � • � Ualess Lender and Borrower otherwise apee in wnting,insucance procceds shaH be applied to restoration or repairof the � �_;:_:•
<br /> �� • � praperty damaged.if thc rostoration or mpair is economically feasible and i.ender s security�s not lesseneA.!f the restoration or �;_�
<br /> � .. repair i�noi economically fea�ihle or l.ender s securiry wouid be lesser►eA,the insurance prvcceds shaU be applied w the sums �
<br /> � sr,cured by this Securiry In.strument, whether or not then due. �vith any excess paid to Borrower. If Borrower aban�ons the �, �.:,,.
<br /> Property.ar does nat answer wuhin 30 days a notice from Lender that the msurance carrier t►as affered to setQe a elaim.then ,�
<br /> Lender may collect the insurance praceeds. Lender may use the procecds to repair or restore the Property ar to pay sums � _
<br /> , ,. � � � secured by th�s Security Instrument.��rhether or not then due.The 30-day periad wili begin when the notice is given. � , T
<br /> • ' � Untess Lender and Borrower otherwisc a�ree �n writins, any appl�cation of procecds to principal shali not extend or ¢__ _.._.
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<br /> ' • '' postpone che due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If -
<br /> -� ' under paragraph 21 the Property is Acquired by l.ender.Bormwer s nght to any insurance policies and proceeds resuldng from �• -_=
<br /> � • ` damage to the Property prior to the acquisitian sha11 pacs to I.ender to the extent of the sums secured by this Security Instrument �r �
<br /> - � . . �:r.. immediateiy prior to the�cquisirion. ��al�
<br /> � b,pecnpancy.Preservation,.Maintenaace and Pcoi�tion oY the�mperty.Borrower's 1.oan Appllcatton; • _ . -
<br /> • cn -
<br /> , � Borrower shall occupy.�tablish,and use the Property as Borrower s principai residertce within sixty days after the exya�tion of
<br /> ' ''� � this Securiry Instrument artd shall continue to occupy the Property ac Borro�ver s principal residence far at least one year after !=
<br /> � - the date oi occupancy.unle.ss i.ender otherwise agrees in writing,which consent shall not be unreasonably withheld. or unless �-~
<br /> � � extenuating circumstanrec exitt which are beyond Borrower's control. Borrower shali aot destroy. damage or impair the -,
<br />-- • Property. allow the Pmperty to deteriorate,or commit waste on ihe Property. Borrower shall be in default if any forfeiture
<br /> . � action or proceeding. whether civil or criminal. is 6egun that in l.ender's goad faith judgtnent could result in farfe�ture of the __
<br />_ . . � � Propeny or othenvise materially impair ihe lien c�eated by this Security lnsttument ar Lender's security interest.Borrower may
<br />-�' ' cure such a defanit and reinstate.as provided in�ragraph l8,by cavsing the action or prnceeding to be dismissed with a rulin�
<br />- . • ' that. in l.ender s good faith deterrn;nation, precludes forfciture of the Borrowcr's intere�t in the Property or other material
<br />-- ' • impairment of the lien created by rr�s S�:curity lnstrument or Lendei s security interest. Borrower shall also be in default if
<br />- ' � Borrower.during the loan applicatics:�process.gave materially false or inaccurate information or�tatements to l.ender(or failod _
<br />- ,' • ' to provide Lender with any materia! inionnatian>m onnnection with the loan evidenced by the Note,including.but not limitad
<br />- �' ta.representatioas concem�ng Bonower's accapancy of the Property ac a principai residenc�. IP this Security]nstrument is on a
<br /> . lcasehold. Borrower shall comply with ull the provisians of the tease. lf Borrower acyuire� fee title w the Property. the
<br /> " ' leasehold and the fee title shall not merge unlcss Lender agrccs to the mergcr in writing. � •
<br /> • . 7.Ptotection af Leader's Right�in the Property.Tf Bono�ver fails to perfurm the covenants and agreements contained in � : •.
<br /> =- ` � this Security Instrument,or there ic a legal pr.x�eoding ihat may significamly affect Lender's ri};hts in the i'ropeny (such as a
<br /> - � proceeding in bankruptcy.probatc. for condemnation or fnrfeiture or to enforce law���r regulatinn,►, then l.cnder may du and
<br /> � pay for whatever is nece�sary to protect the value of the Property and l.ender'c rights in the Property. Lender s uclions may
<br /> = • include paying any sums cecured by a lien which has priarity over this 5ccuriry Instrument. apprsring in cauri. paying ,
<br />_ . ,� . reasonable atmmeys' fees and entering on thc Propeny t�make rcpairs. Alth��uFh Lender may take a�tiion under this p:uagraph
<br /> == � 7.Lender does not have to do so. .
<br /> = � � Any amounts di�bursed by Lender under this paragraph � shall hecome aJditional debt c�f Borrower secured by this
<br /> � • . � ' 5ccurity Instrumen�. Unlc�s Bom�wer xnd Lender agrec ta other terms of payment,these amuunts shull bear intcrest from the :
<br /> ;.; ' �:,re �f dichursement at the Note rate and shall be payable. �vith interest. upan noticc fmm L.ender tn Bi�rn�wcr requesting ,
<br /> . .. . �__ a:---
<br /> _ . � p�eyment. —
<br /> - - S.!�lortgage irosuraace.(f[.cr.der reyuired mortgage insutance as a condition of making the lo:u�secured by this Security
<br /> - ' In,trument. Borro�ti�er shall pay Ut� preminms required to maintain the mortgage insursttce in effcxK. If. for;eny :�ason. the ,
<br /> - mnrtgage imurance coverage reyuin.�l by Lender lapses or a::uses to be in effect. Borro�ver�hall pay �he premiums x�.�uired to
<br /> 4 ohtain ro�cra�e substantially eyuivaleN to the mortgage inwrance previausly in effect. at a cu�t sub�ts.tially equivalent to ihe
<br />����- � � co.t tn$nrtmrer nf th: mortg:►ge insurance previausly in effect. ftom an altem:�te murtgage intiurer a�.�roved by Lender. If • .
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<br /> -- oo��a��,a iorm 3028 9l90
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