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<br /> '";`-1 z ` e The Funds shall be hetd in an institntion whose depasits ar�e inqured by a federal agency, �nstrumentality, or entity ;.
<br /> ����� • (incl�cding Ixnder,if Leader is such an insdtution)or in any Federal Home Loan Bank.Lender shali appEy the F�nds to pay the
<br /> - � � �- " '?k F sc�aw[teats.Leader may noi c h a r ge Bomower far holdin g and a p plying the Funds.annually:u�aly�ing the es��w actouttt,or
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<br /> _ �•� verifying tt��scrow I�emx.untess Lender pays Bormwes interest on tht�unds snd applicahie law permits ixnder to make such
<br /> � . , . a chacge. fiowever.Lender may�equire Bartower to pay a one-time charge for an independent ceal estaee tax reQorcing service ��
<br /> - ' ' :F�`� usad by Lender in oonnection with this loan. unless applicable taw provides othenvise. Unlc�s an agreement is madc or .
<br /> ` ;�'` � applicable!aw requins interest to be paid.LBnder shalt not bc mquired to pay Borro�c�er any inierest or eamings on the Furtds. � �
<br /> • . Sorrawer and LQnd�r m�y agree in�vriang. howe��er.that interest st�all be Qaid an thc Funds. L.en�er�shall give co 8otmwe►. .
<br /> ��'��.�.,y� without charg�,an annual accounting of the Fundc.shawing credits and debits to the Funds artd the purPose for ahich eac6 .
<br /> _;,:; •� .:{ debit to the Fnads was made.The Funds are pledged as additional secvrity for all sums serured by this Securiry Instrurncn� - --
<br /> , • `` �- If the Funds held by l�ender exceed the amounts permitted co be hetd by applicabte law,Lender shali aocount w Bor�aer . � .
<br /> `�r ` ` `= for the excess Funds in acoordance weti�the mquirements of applicable latv. If the amount of the Funds held by Lender s►t a�ry
<br /> `' �-: time is not sufTiaent to pay[he Escrow Items w[ten due,Lender may so noti fy B ormwer in�vriting.an d.in such case Berrawer
<br /> s - � sl�alt Pay to Lender the amount necessaty to maGe up the defreiency.Bomawer shait ma�e up die cfeefccicncy in ao mtue titan ` ;
<br /> ew•eive mon[hiy payments.at Lender s sole discretion.
<br /> � Upon paymem in full of all su�nc secured by this Security Instrumeat, Lender shall promptly refund to Borrower any _ � .
<br /> • Funds held by l.ender.If,under paragraph 21.Lender shall aoquire or sell the Properry.[.ender,¢rior w the acquisition or sate .�. _
<br /> . - of the Pmperty,shal!apply arry Funds fietd hy I.ender at the tinse of aoquisition or sale as a credit against the surns secured by '�_,'_
<br /> this Secvrity Iactrument. �`��
<br /> .` ` - - 3.Applicatfon of Payments.Uniess app!icabie law pmvides athenvise,all paymenu received by Lender under paragraphs
<br /> `� <•� � t and 2 shall be a;rplied: first.to anY prepaymeat d�uSes dee under the Nate:second.w amaunts payab2e under paragraph 2: �_�<'
<br /> �� � �� third,m intenest due:fourth.to principal due;and last.to any late charges due under the Note. .
<br /> ` `�,, 4.Cha�c� Idcas.Borrocver shaU pay all taxes.assessments.ci�arges.Hnes and impositions attn'butable to the Property . ,..
<br /> °`"?'�y�;:`r`�.�.�-'� whic6 may attain priority oves this•Security Insttvmei►t,aad t�asehold paymeats or ground r�nu. if any. Borrower sf�all pay ,-� :
<br /> ,� '� these obligatioas in the manner provided in paragraph 2,or if not gaid in that manner.Borrower st�all pay them on time direcqty
<br /> ,��,r'`` ' "�� to the persoa owed p.��-}��sent.Bonower shall pr�rr.�tly fLmish to Lender all notices of amaunts to be patd under this patagraph•
<br /> = r�-=-t=�=-T-` �f Borrower maices�payments directly.Bor�wer sitall promptly fumish to Lende�receipts avidencing the gaymeau. _.�'.�
<br /> `''"�t��� � '' Borrower shall�rompdy d�sctiarge azry lien which has prioricy over this Security Instrument unless Borrower.ta)agrees in �=�'. .
<br /> ;: L.- 5 � . -a . •
<br /> � r • writirig to ihe payment of the obligation secured by the lien in a manner acceptable to I.ender.(b)oontests in goad faith the lien i
<br />__ �..�.:::-;_.`,' 6y.�u�defends against enfanxment of the lie� in. iegal p�eedings which in the Lender s opinion operaie to prevent the �:;
<br /> :.'�.'; - eaforcemeni oi ttte l�a:or(c)secums from the hotder of the�c4n an agreement satisfactory to Leadet subordinating the tien to :,�;:;:�:
<br /> " this Security Instn�t. If Lender detertnines that any part af the Praperty is subject to a lien which may attain prcoriry over _
<br /> � ' ' ' this 5ea�riry h►sttu,�t,Lender may give Borrower a norice:dentifying the lien. Borrower shall satisfy the lien or take ane or ,��•:�v
<br /> � , _ `;, -:•i more of the actions set farth above wuhin 10 days of the givi��of nouce. "'
<br />.. • 5. Ha�aid or Pcopeety 6�raace. Borrower sha11 6�p the improvemenu now existing or hereafter ec+ected on the E'�• '�
<br /> .... � �.._, `�°"_. Property insured against toss b� �re,'hararrds included witt�..'s the term"extend�ooverage" and any other halards,including f.'---
<br /> ha a b
<br /> • ftoads or flooding,for which E,e�.^c��r requires�+r��-"ce.T his in5urance s h a ll be mai n t a in e d in t he a mo u n u a n d f o r t h e ri o d s "' -
<br /> Pe E��--��'r
<br /> • • � that L.ender requires.The insurasiee carrier p�=�-�g the insuiar►ce shall be chosen by Borrower s�6Ject to L en der's approval �-�
<br /> • � .. ` `"- which shaU not be unreasonably withheld. If��.�:viver fails to maiatain coverage desccibed abov�Ian�er may.at l.atder's �.���
<br /> r• • . optian.obtain wvecage to protect[.endtr s r�ghts in the Pro�erty in acoo�ce w►th pacagraph 7. . . �-,__
<br /> '' Ali insurance policies aad reiiewals shall be accNptabE��a I.ender and shall inclutte a standar�d arnortgage ctause. Lender �__
<br /> �• t ' ' shall have the right to hold the Qe?icies and rene�Hals.If Le n�'�..reguires.Borrower s hall promptly give to Lender all rece i pu of ;.:_;_
<br /> � •• •��l� � paid�premiums and renewal notices.in the event vf loss,Borrower shali gi�:�prompt notic�e to the ins�rancc carrier and Lender. !�•�V-
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<br />_ • i.ender may make��e8 of loss if not made pmmptly by Borrower. �_. .__
<br /> � � . Unless I.en�c��,3 Borrower ot[terwisc agree in writing, insurance p�s shatl be appiied to restoration or repair of the __
<br /> •: . - propetry damaged;i:`�e restnrstion or mpair is economi q i ty feasi b le an d�:e n der s security is no t lessen e d.I f t he r e s t o r atian or _ _�
<br /> " �� . � repair is not ecc�nomicatly fe��.�or Lender's security wou9d be lessened. the insurance proceeds sha11 be appiied to the swns
<br /> •• , secured by this Security Instro�t. whether or not then due,with any excess paid to Borrower. If Borrower abandons the ,.,_.._,_
<br /> • Properry.os does not ans�ver«z�in 30 days a ssotice from l.ender that the insutauce rarrier has offered to settle a ctaim. then __ _
<br /> • Lender may colleci the insurance procceds. E.�nder may use the proceed.s to repair or restore the Peaperty or to pay sums �
<br /> � ' � secured by this Security Instrument,whether er c�s:s then due. The 30-day period will begin when the t�ace is given. —
<br />_ • Unless Lender and Borrawer otherwise� in writing,any application of prooeeQs to prinwn.�shall not eMend or
<br />_ � � - yostpone the due date of the monthly payme� cefcrred to in paragraphs 1 and 2 or change the amnunt of the o..�ments. lf
<br /> � � under paragraph 21 the Property is acquired by t�.ender.Borrower's right to any insurance policies artd ptnceeds�`�r�from •
<br />- • damage to the Progerty prior to the acquisition shall pass to Lender to the eatent of the sums serured by this Securitg>.�ment • _
<br />- immediately priur a.T dfe acquisition. �--
<br /> '" 6.0¢cuQancS,f�reservation,Mfalnteoance and Protection of the Property;Borrower's Loan Applicatton;Leasettolds: R--
<br />- . Bormwer shall occupy,establish.and use the Property as Borrower's prin�tipal residence within sixty Gays aftet the eaecution of •
<br /> ' this Security lnstrument and stsall continue to occupy the Property as Borrower s principal residence for at least one year after _.,-�
<br /> � . the date of occupancy.untecs Guu:er otherwise agrees in writing, whicb consent shall t�at be unreasonably withheld.or unless =__
<br /> � � • e�tenuating circumstances exist which are beyond Boaower s eontrol. �oaower sh�� not destroy. damage or impair the __
<br /> ' property. allow the Pcoperty to deteriarate. or wmmit waste on the Property. Bonower shall be in default �f any forfeiture �:-=
<br />- � • • action or prooeeding. wF.ether civil or criminal. is be�un th�t in Lender s good faith judgment rnuEd r�sutt in forFe�ture of the ,-�;�;=
<br /> •: P r operry or o t herwise ma teria l ly i m p a i r t h e l i en rr e ated b y this Securi t�Instrument or Lender's secueity��terest.Soaower may �.;-
<br /> � cure such a defautt and reinstate,as providect in paragraph IS.by caus�ng the action or praceeding to be dismissc�with a ruling =_
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