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<br /> Tha Fund9 shall be held in un instltutinn whosc dcposits m insured by u fedcrul ugency, instrumentality, or entity
<br /> (including l.endcr,if Leixicr(s such un institutbn)ar in cmy Fcd�ral Eiomc L.oan Bank.I.�;ixlcr shull apply the Fund.s to p�ry thc
<br /> Escrow Items. l.end�r nmy nnt rhurgc&�rrower fi.r holding arxt upplyi�g thc Punds,unnually anuly�ing thc cscraw accaunt, ur
<br /> vcrifying the Iiscn�w ltem1,unlcss Ir.n�ler payh li��rrower interest un the Fundy and appilcable luw�x:rmits L.c:nder t��muke�uch
<br /> a chargc. Nowcvcr, L.c�xlcr nu�y rc�uirc W�rr�wcr ta puy u uuc-ti�ix cl►urgc for an lndcpcixlc�t real ctitntc tax rc�ning scrvirc
<br /> us�til by I.,e�Hlcr in c�mnccUon witl� thiti luu+�, ueilesy upplicuble law provides otherwixe. Unle�s nn uErcemcnt is mude or
<br /> up�Ucniilr luw reNuires interest tii hc paicl,L.ct�der shall n��t lx requlred�o puy&�rruwer �ny intercst�r carnings un the nunds.
<br /> &�rr�r.ver uud I.ender muy ugrc�in writ�ng, however, that intcrest shidl he puid on thc Fuixtti, Lc�cler siwll give t��ti�mowcr�
<br /> wfth�iut churge, un unnuul u�a�unti�i�of die Funds, shuwing crc.�ilis uixl debits to Ihe f'uixlti u�x1 the purp�se fur whtch euch
<br /> dcbit to thc Fuixis wuti madc.Thc Fuixls,�rc pl�dgat uti�i�fditfonul .ururity fiir ull sums sccurcd by this 5ecurity Instrument.
<br /> If the Fund�held hy I.endcr exrced thc zunnunty permitted to b�Bcld by upplicublc law, l.cndcr shuil i�ccuunt to Rorcowcr
<br /> fi�r thc excess Fundti in�;cania�xe with the requiren�nts of appiicablc luw. If the umount ot the Funds hctd by Lcix�cr at ui�y
<br /> time is nut nufflcient to pay the Escraw Items when due,l.ender n�ay tiu nutify&+rrower in writing,ui�l, in such cuse B�rr��wer
<br /> �hall puy tu l,eixier the umcwnt necessury ta make up the defielency. Borrower shull muke up�he deficienry in nU more than
<br /> twtive immthly payments, at l.endcr'q u►le discreti�m.
<br /> Upon paynxnt in fuil uf ull sums uxured by this Srxurlty Insttument, [.endcr shull promptiy reftuxl to Rorcowcr uny
<br /> Punds held by I.ender. !f, aixfer paragruph 21,Lender shall acquire or sell the Property. l.ender, prior ta the ucquisitian or sufe
<br /> uf the Property,sh�ll i�pply nny Fu�xls held by I.ender ut the timc:oF ucquisition ar sale s�s a crc�lit uguinst the sums secured by
<br /> this Security Instrument.
<br /> 3.AppiicAtbn of P�ymen�r. Unless upplica6lc law provtdcs otherwisc,ull paymentti reccived by l.crxler undcr puragrephs
<br /> I and 2 shall be upplied:fir�t. to any prepuynxnt churges duc under the Note; secc�nd,to ainaunts puyuble under paragraph 2:
<br /> thirci,to intcrest duc; fiwrth.[�principal duc;and lust,to uny lute:charges duc undcr thc Ndc.
<br /> 4.Chargcw; I.iens, Borr�wer shull {ray all taxex. assessmcnte,churges, fincs und impusitions uttributabic tn thc Nropc:rty
<br /> which wuy attain priority over thiti Securny Inst7wnent, and Ieauhold payments or graund re�tti, if any. Borrower shall pay
<br /> the.s:.obligations in thc nu►nncr providcd in paragraph 2,or iF not paid in thuc manncr.Iic�rrnwcr tihall puy them on limc dircctly
<br /> to thc perron owccl payment.Barmwer shull promptly furnish to IRndcr all notices of amounts to bc paid under thiy paragrnph.
<br /> If&�rrowcr mukcs thesc payments directly,Borrower shall promptly fumish to I.ender reccipts evidenring the payn�ents.
<br /> Borrower shall promptly discharge uny lien which has priarity over this Securiry Instrument unless Borcower: (n)agrce,in
<br /> writing to the payment of the obligation secured by the lien in a rnanner ucceptuble to I.ender; (b)contests In gaod faith the lien
<br /> by, ur defends against enforcement of the licn in, legul proceedings which in the I.c�nder's upinion operate ta prevent the
<br /> enfor�ement cif thc lien;or(c) secu�cs from tho holder of the lien un agreement sattsfuctory to Lender subordinating the Iten to
<br /> this Security Instrument. If Lendcr determines that�my part of the Praperty is subject to u lien wl�ich may attain priori[y over
<br /> this Security Instrument,L.ender may give Barrower a notice identiFying the Itcn. Barrawer shall satisfy che lien or take one or
<br /> more��f the actions set forth ubovc wuhin 10 deys af the givii�g of notice.
<br /> 5. HAZxrd or Property Insurance. Borrowcr shnll kcep the improvements now existing or hereafter erected on the
<br /> Property insured agalnst loss by fire,haznrds included within the term "extended coverage" and any other ha•rards, including
<br /> floods or flooding. for which l.ender requires insurance.This insurance shall be maintained in the amounGS und for the periads
<br /> tliat l.ender require,. The insurunce currter providing thc insurnna shall be ch�sen by Borru�er subject to Lcnder's approval
<br /> wtiicti ot'�aii ��t ts�:u��ssa�ly r:ithheld. If A�now�r f�ils to mnintnin coveraee descri6ed above. L.ender may. at Lender's
<br /> option,obtain coverage to protect I.ender's rights in the Property in necordnnce with paraRraph 7. •
<br /> All insurance policies and renewals shall be acceptable to Lender and shall include u standard mortgage clause. Lender
<br /> shall have the right ta hold thc F►olicies and renewals. If Lender requires,Borrower shall promptly give to Lendcr all receipts of
<br /> paid premiums wxi renewal notices.In the event vf loss.Bormwer hhall give prampt notice to the insurance carrier and L.ender.
<br /> Lender may make proof of loss if not madc promptly by Borrower.
<br /> Unless I..ender and Barcower otherwise agree in wnting, insurance proaeds shall be applied to rc.storntion or repair of the
<br /> Property damaged,if thc restoration or repair is economicully feasible und i.ender's security is not lessened.If the restoratlon or
<br /> repair is not oconomicully feaslble or L.ender's security woufd be les�ened.the insumnce proceods sh�ll be applied to the sums
<br /> securat by this Securiry Instrument, whether or not then due, with uny excess paid to Boxrower. If Horrower abandons the
<br /> Property,or does not answer within 30 days u notice from Lender that[he insurance carrier has offered to settle a claim, then
<br /> Ixnder may collect the insurunce proceeds. I.ender may use the prace�ds to rcpair ar restore the Propercy or to pay sums
<br /> secured by this Securiry Instrument,whether or not thcn due.The 30-day period will be�in when the notice is given.
<br /> Unless T.ender and Horrower otherwise u$ree in writing. nny app�icution of procceds to principal shall not extend or
<br /> postponc the due date of thc manthly paymcnts referred ta in pamgraphs t und 2 or change the amount of the payments. if
<br /> under paragraph 21 the Property is acquired by�Lender,IIonower's rxght co nny insun►na policies nnd procec�ls resulting from
<br /> damage to the Property prior to the acquisition shall pass to Lxnder to the extent of the sums secural by this Security Instrument
<br /> immediately prior to the acquisitiun.
<br /> G.Occup���cy, P�ervation,Matntenance and Protection of the Property; Borrox'er's L.o�n AppUcAtion;Leaseholds.
<br /> Borrower shall occupy,eswblish,and use the Property ns Borrower's principal residence within sixry dtrys after the execution of
<br /> this SecurRy D�strument and shall continue ta occupy the Propeny ns Borrower's principal residence far ut least one year after
<br /> � the date of occupancy,unless Lender otherwise agrees in writing,which consent shull not be unreasonably withheld. or unloss
<br /> extenuating clrcumstances exist wh{ch are beyond Borrower's mntrol. Borrower shall not destroy. damage or impair the
<br /> Propeny, allow the Property to dctcriorate.or commit wastc on the Pmperty. Bnnowcr shall be in default if any forfciture
<br /> aetion or proceedtng,whed�er civil or criminal, is begun that in Lender's good fuith judgment could result in forfeiture of the
<br /> Pruperty or otherwise muterially impair thc Ilen created by this Saurity Instrument or L.cnder's sccurity interest. Barcower may
<br /> cure such u defuult and reinstate,as provided in puragraph 18,by causing the action ur proce�ding to be dismissed with A ruling
<br /> that, tn Lcnder's good faith Jeterm[nation, precludes forfciture of the Borrower's intercst in the Property or other material
<br /> impair►nent of the licn c�cated by this Sccurity Iustrument ur T.ender's security interest.Borrower shall �lsa be in default If
<br /> Borrower,during the louii nppliration process,gave materiully false or ina�curate �nform�tion or statcments to Lender(or failod
<br /> to provide L.ender with:�ny materinl informa�ion)in connection with the loan evidenred by the Note,including,but not liniited
<br /> to,repres�ntutions coneermng Borrower',occupancy uf tlie Propeny as u priricipal residence.If this Security instrument is on a
<br /> lca�chold. Borrowcr shult comply with all the provisions of the Icase. Tf Borrowcr acquires fce titic to the Property, thc
<br /> lensehold and thc fcc tidc shall not mcrgc unless Lendcr agrec;s to ihc mcrgcr in writing.
<br /> 7.Protectton ot Ixnder's R(ghts tn the Property.If Borrower fnils to perform thc covenants und agreements contained in
<br /> this Secur�ty Instrument. or thcre is a legal procceding that may significantly affect Lender's rights in the Property (such as a
<br /> prucecding in bankruptcy,probate, for condemnation or forfciturc ur to enforce laws or regulations), then I.,�nder may do and
<br /> �ay for whatevcr is nccessary to protect the value of the Propcny and L.ender's rights in thc Propeny. Ltndcr's urtions may
<br /> include paying any sums secureci by a lien which has priority ovcr this Sccurity In�trument, nppearin� in rnurt, paying
<br /> rcasonable attorneys'fees and entering on thc Property to makc repairs. Although Lcndcr may take action under this parabruph
<br /> �i,under aocs not nave co do so.
<br /> Any umounts disburseei by l.cnder uidcr this paragraph 1 shall bccomc additional debt of'13orrowcr sccurai by this
<br /> Security Instrument. Unless Borruwer and Lender agrce to othcr terms of payment.these umounts shall hear interest from the
<br /> date of disbursemcnt ut tl�c Note ratc and shall be p:iyable, wiih interest, upc�n notice from LcnJer ta Borrowcr requesting
<br /> paymcnt.
<br /> 8.Mortgage Insurance.If Leudcr reyuired mortguge insur�ner as u condition uf nuking the loan secureJ by this Security
<br /> Instniment. Horrower shall pay the premiunu mquirui to muimain thc mortgagc inzunmrc in effcct. If, for any reason, the
<br />— mortgaf;c insurunce covcragc rcquired hy I.cnder Inpscs ur rcascs to bc in rffect. Bon•ower ,hall pay thc prcmiums rcyuind to
<br /> obtain covrtage�ub�tantiully equivalent to the mortgage insur�ance previuusly in effect,at a rotit,ubstantially cquiv:tlent tu thc
<br /> cost to Dorrowcr uf the mortrage insurance previously in effect, from :�n niternate murtg.i�r intiunr:ipproved by Lender. if
<br /> – r��o�o�a Fnrm 3028 8190
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