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<br /> . =���` �" The �unds shall be held in an institu6on whase deposits are insured by a federal agency. instrumentality. or entity
<br /> ��� (including Lender.if L.ender is such an insritution)or in any Federal Home Loan Bantc• Lxr�der sh�11 aPP�Y the Funds to pay dte �' .
<br /> ..� ' `'`f��� �rov�Items.L,e�d2�may aot charge$atrower for hoiding and apglying the Funds.annually artalyzing the escrow acoount.or . .
<br /> � ' ``� verifyusg the Escmw Items,unless ixnder pays Borrower interest on t�e Funds and applicable law permiu L.ender to make such •:�,-
<br /> .., .•.. _.� ; ,._,
<br /> � �`: a chatge. However.I.ender may require Barrower to�ay a une-time charge for an indepeadent rea!estate uu�eporti4 seNtte
<br /> � " �� �y J„epde� in conneca¢n w,�th this laan, untess applicable Taw provides otherwise. Onless an agreement is mzde or
<br /> • appGcable Eaw requims interest to be paid.Lendet stiall aot be r�ui�d to pay Bormwer any intenst or eamings un t4�e Funds. ,��:',�
<br /> • � •.•r ,: � `' Bo�ower aad Lender may agaee in writing.hnwever.that inte�est shatl be paid on the Funds. Lxnder shal!give to Bori+ower. _� r_�,
<br /> `� �``:• . ���:<. without char$e.an annnal aa�onntin8 of the�unds.showing cmdiu and debiu to t6e Funds and the purpose for which eas6
<br /> ` debit to the Fuuds was made.The Fuads are pledged as addItional secvriry far ali suius secured by[his 5ecuriry Instnunent. '�f--.;,;'
<br /> "'°i if the Funds lield by Lender e�ceed the amnunts permitted to 6e hetd by applicabte law.Lender sh�l! acrnunt to Borrower ,,;;-,
<br /> � for the excess Funds fu accoNauc�wid�the re�lW�menu of applicable law. If the amou� of the Funds held by lxnder at afi+ -
<br /> � u ce � �:
<br /> ������ time is not suffiaent to pay the Fsccow(tems when due.Lender may so nntify Borrower in writing.and.in such case Borrower . ,
<br /> - -- �P$Y to IxRder tt�e amoVnt nccessasy to m3l•e�sp the defciency. Bcumwer shall make up thz deficiency in no more than s �.
<br /> _ .� ':..k;� :". ` twelve montlily paymeun,at Ixnde�s sole discretioa.
<br /> • . _ Upon payinent in full of a0 sums secured by th�s Sec�nty Inshumen� Le�det shall pmmpdy refund to Borrower any �;:�.
<br /> ��: Funds heW by iender.lf.under pa�ra�raph 21.Lender sha11 acquire or sell the P�nperry.i.ender.prior to��sition or sale � .;
<br /> - k .. r. of the Property.shall apA�Y�Y Fu�►dsr hetd by Lender at the time of acquisition ar sate as a credit against the sums secwed by �,,,, r
<br /> . ..+: this Secarity Inctrument. -
<br /> . . 3-�lpplt�on oY P�ymenis.Uniess apptirable!aw provides other+�ise.all payments received by Lertder under paragraphs �•_ :.
<br /> .:'. ^-�:�: 1 aad 2 shaU be applied:fipst.to anY P�Payment c�arges du�uBder the Note:second.to amounts payabie under parag�aph 2: ���
<br /> ar
<br /> �' , .. �`}•�` third.to Interest due:fourth.to priacipal due:and last.�ta�►y late d�arges due under the Note. �='°-�
<br /> ' l�4 : " . 4.Chaiges. Liet�.Borrower shaU pay all taxes.assessments.d�arSes•fines and impositions attri�ibutable to the ProP�Y - �.
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<br /> which may attgain priority over this Secur�ty [nstrumepi. and leasehold payateau or grotmd renu. if anyr. Borrower shall pay ' t`
<br /> ' ' • these ohligations in the manner provided in paragrapb 2.or if not paid in that manner,Bomower shall pay them an u�rze direcEly -_
<br /> � � to the person owe�payment.Borrower shall prompdy fumish to I.ender all notices of amounts w be paid under this paragraph. _
<br /> _. . if Barmwer mal�es these payments directiy,Borrower sh�lT promp dy f u r i u s b to L e n d e r t�eceip t s evi d e ncin g t6e p a y m enis• , �,
<br /> Borrawer sdall prompily discharge aaY lien which has priority��er this Security I�uamcnt unless Borroares:(n)agrees in �u
<br /> . . . ,._�::;, writing to the paymem of the obligaziva�cured by the tien in a man�r�r aoceptabie to Lender,(6)oontests in gaod faith the lien �
<br /> �� by, ar defends against euforcement oE tl�, lieo in. legal praceed�,�.whzch in the Ler�der's c�pinion aperate w �rewerrt the � �. _�
<br /> � enforoement of the liea:or(c)secures frvm the hotder of the lien��eret s�sfactor3'ta Lendee suba�armg�t�en to � �
<br /> �,,,._.�
<br /> ' � this Security Instrume�rt.If I.eader detertniaes that any part of the Property ss srrect to a lien which may affain prioriry over 4..
<br /> � ' this Securiry Inshvmeat.d.endec maY give Bonower a notice identifying the ue�.Barrower shall saiisfy the[ce�or take one or ��r '
<br /> , � �' more of the artioas set fonh above wiihin 10 days of the giving of aotice. -
<br /> ',� � S. HaTard or Properiy InsmaAC�. Borrower shaU keep the unprovements now exisang or hereafter erected on the !!!'_;
<br /> '� ' �P�Y�TM��loss by f�re.hazards inciuded within the�rm"extended rnvetage"and any other hazaids. incfu�'mg �.�`�:
<br /> '. . flaods or ttooding,for wtucb Lender requires insura�.This insurance shall be maintained in the amounts and for the periQds j-
<br /> �:~��s._.
<br /> :.'•G :; that I,euder requires.Tt�insurance carrier providin�the insurance shall be chosen by Borrower ssubj�t to Ixnder's appcaval -•----•
<br /> �� • • � which shall not be un�nably withheld. If Borrawer fails to maintain cavetage described above.Lender may. at L�uder's =_=="
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<br /> ��::,,tiY�,,;�' option.obtain coverage w protect Lender's rights in the Property in arcordance with patagrapA 7. �_„��;
<br /> _'`•'r,',;;,��;; Al!insurance poiiciea�ucd reaea4:tTs shalt 6e acceptable to Lender and shail include a�ndar�d mortgage clause. �ea►'��r �_
<br /> `�''���� shall have the right to hatd the polisic-��nd renewals.If i.ender mquires.Barrower shall pra�.p�'�giae to l.ender al!recei�.of __
<br /> . ,�_ ,:,. nd rY�„;-
<br /> � �`�'.�:`;-'� paid premiums and renevFal notices.in the event of loss.Borrower shall grve prompt notice t�c�e�uisurance carrier and Le�iter. __�__
<br /> '' ' • I.ender may make prooFof toss if not made prompdy by Boaower. '�`-'�-
<br /> . `: Unless[�nder and�L�kvrower athenvise agree in amtinS.insurance proceeds shall be applied to restcr�tian or repair af the
<br /> � . '�`° � propetty damaged.if the restorarion or repair is er.oaamically FeaSible and Lender's security is aot iessenr3`�che restarat�on ar �
<br />_ .. • repair is not economicaily feasit+le or i,�aiar c r,e.curity wauld be tessened.the insurance Pmceeds shall t�e��ied co the'sv°� —
<br /> --- .� � secured by this 5ecuriry Instrument, whether or not then due,with any excess paid to Bonower. If Borrower ul�andons the ___
<br /> � ' ' Property.or does not ansarer anthin 30 days a notice from L.ender that the insurance carrier has offered to settle a claim, then --_-
<br /> ` � .. � Lender may collect the insuraace procceds. Lender may use the proceeds w repair ar restore the Ptagc�t.y or w pay sums ___
<br />' •• �� secured by this Securiry Instrument.avhether or not then due.The 30�day period will begin when the notioe i�•piven• r..,...--
<br /> ' '� Unless I.en�er and Barrawer othenvise agree in writing.any apPlication of proceeds to principal-s:tall not eatend or ���'
<br /> • � :��..`,� postpone the due date of the monthly payraents referred to in paragraphs 1 and 2 or chaage the amount of the paymenu. If _
<br /> ..�r.:;�.:�.; ', under paragraph 21 the Propeny is acqui�+ed by Lender. Borrower's nght to any insurance pel�raci and proceeds resulGng from
<br /> '._;Y;;�:�'•�•° damagc to the Property prior to the acqmsition shall pass to l.ender to the exteat of the sums sr�:un.�'1 by th�s Securiry Insnument �_
<br /> .�„>:,�''.. .: •� immediately prior to the a,x�uisiuon.
<br /> � .';�:•� 6.Occu{�ancy,Pr�vattoa,Mafntenanoe aw.�L�rsiectton of the ProRe�ty,.8osrowc�s I,oan A�or�1.easeholds. _
<br /> .. ��.'','"�}� • Horro�ver shall owupy.c�'ablish.and use the Propen.a.s BorroK•er's principal n..R:�le�ce within sixty days al�cr�he eaecutiar.of .° `
<br /> :,,.,. �FY ��•
<br /> •• t'�t'��'�. this Security Instrumer:and shall oontin�e to occupy[�e Prog�t�� as Borrower's principal residence for at�east one yeas�'ter _.��.
<br /> � ' „ � the date of occupancy.unless Lender oth�twise agr�s in w�ritiug..��tich wnsent shall not be unreasonabty withheld.or unless � _
<br /> � � e�enuating circumstances euist which are 6eyond C�:arower's�,.�trol. Borrower shall not destray. clamage ar impair the =�_
<br /> ' � � • Property. allow the Property to deteriorate. or co�ct waste on the Property. Barrower shall be in default if any forfeiture _
<br />- � � '� action or praceeding.whether civil or criminal.is begun that in Lender's good faith judgment could result in forfeiture of the -
<br /> ' ' Properly or othernrise materially impair the lien created by thls Security lnstrument or Lertder s security interest.Borrawer may .,,
<br /> cure such a default and reinstate.as provided in paragcaph 18.by causing the action or proceed.ing ta be dismissed with a tuling �Y.
<br />-_ • that, in Lender s g o o d fait h�determination, prec lu des fo r fei ture o f t h e B o rr o w e r's i n t e r e s e in t h e Pro p e rt y or oiher material
<br />- � impainnent of the licn created by this Security instrument or l.endei s security interest. Borrower shalt atso be io defauit if �.�-r
<br /> ' . Borrower.during the loan application process.gave roaterially false or inaccur,�e infamnation or statements to Lender(or failed �:.:
<br /> . �� to provide Lender with any materitil information►iR a�nncxtion with the toan e�idenced by the Note.including.but not IimiteJ �
<br /> t; � to.representatians wncemmg BoRnwer's occupancy of the Pruperty as a pnncipa!residence.!f this Security Instrument is on a �<.���
<br /> Ieasehold. Borrower shail compty with afl the provisions of the lease. li Borrower acquires fee title to the Property. the
<br /> � �ii �� � � � leasehold and the fec title shall not merge unless Lender agrces to thr merger in writing. � :
<br /> � � - ?.Protectfon ot Leades's Rights in the Progerty.if Borrower fails to perform the covenants and agrecments contaiaed in
<br />- " ' this 5ecurity Instrument.or there is a tegal pro�eding that may signifcantly affc�ct Lender's rights in the Property(suc h as a
<br /> . � � � proce�ing in bankruptcy,probate, for condemnation or forfeiture or to entoree�aw�or regulations).then ixrtder may do and --
<br /> ' � � • pay for w6atever is necessary to protect the value of the PropeAy and l.ender's rights in the Propeny. Lender s actions may ,
<br /> ` � ` • ' . �nclude paying any sums secured by a lien whirh has psiority over this Securi�y Instrument. app�ring in court, pnying �•-
<br /> - � � resaonable attomeys'fees and entcring on the Property to make repaits. A�though Lender may takc action under this paragraph �..i�
<br /> ; ' 7,Lender dqes not have to do so.
<br /> = � � ' �• Any amounu disbuned by I.eader under this paragraph 7 shell become :nlditional debt of Borroticer secured by th9s _
<br /> - : . 5ecvrity lnstrument.Unless Bormwer cutd Lender agree to othcr terms of paymcnt. these amounts shall bear interest fro�the
<br /> � . date of disbursement at the Notc r.ste and shall be payable. with interest, upon nutice frum Lcnder to Bormwcr rcyuesdng
<br /> payment.
<br />- . $.Atortg,age lasurunce.If Lertder required muri�ge insutance as a candition vf makinF the loan secured by this Security
<br /> � ' ' � In�trument. Borsower shall pay thc premiums required to maintain thc mongage in�urance in effect. If. for:u�y reason, the .' "
<br /> = • _ • • mungace insurance mverage reyuired b}Le�ider lapses or ocases to 6e in e(fe�i.&ttra�vcr shail pay the premiums rcquired to
<br /> . ubt:,in covcrage tiubstantially eyuivalen�to the mungage insurance previously in effect, at•r ri�st substantially equivalent tu the
<br />"~: � cost to Bnnon�er of the murtgage insunu�cc previou�ly in effcct. from an aftematc ncungsgr insurer apyroced by Lcndc�•. If -
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<br /> ,:r, � o��,��r s Form 30Y8 9l90 -
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