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<br />- •• � % Thc Funds shull bc hcld in un institution whotic dcposits arc insured hy a fccfcral agency, instrumrntality, ��r cntity
<br /> f (inclucling L.endcr, if Lendcr ih such un institutiun)��r in any Fcdcrd Hunu Lc�an F3an4.. Itindcr shal!apply thc Fun�l.to pay thc _
<br /> :�� �scrow Itcm:.. Lcndcr may not chargc Hurrowcr fur holdin�and applying thc Fun�1�.annually an�dyting thc cscrow acrount. ur —
<br />_ �� verifying thc Eu:row Items, unlc,s L.cnder pays Born�wcr intcrest on thc Fun�ls an�i applicablc litw permrts l.�:ndcr tu mukc+uch
<br /> .;� u churgc. Howcvcr. I.cndcr muy rcquirc Borrc�wcr tu pay u onc-time chargc tixnn imlupcndcnt real ctitatc cux rcpurtinE +crvicc
<br /> used hy I.endcr it► cunnccti�m with thi� laan, unlcss applicuNlc luw providc� c��hcr�visc. Unlcsti un ugrcemcnt iti m��d� ur
<br /> upplicablc luw rcquires interest tu bc paid,LcnJcr shull not bc rcquircd tu pay Rnrrmvcr nny intcrest ur carnin�;�on thc �unds. �
<br /> , . �"� B��rrowcr and I.endcr may agrcc in writing, huwcvcr. thut intcrest shall hc puid��nihc I�unJs. l.cndcr shull givc tu f3orruwcr,
<br /> without rhnr�c. un cmnuul arruunting ut' thc Fundti. shawing credits�uid dchns tudi� Fund, und thc purpcnc fur which cach�
<br /> debit to the Fwids wus made.Th�:Funds ure pledged.is udditiunal tiecurity fur all+uins secured hy Ihi�Security f ntitrumont• �
<br /> '�r"'�• lf thc Funds held hy I.cnJcr exrced the amounts pennitted t��bc hcld hy appl i�7hle luw,l.cnder shall urcuunt ti�Rorr��wer�.j
<br /> :,� �'• '
<br /> for the cxccss Funds in uccc�rdance with thc rcyuircnunts of applicublc luw. If thc aniount of thc Funds hcld by L.cndcr at any
<br /> •�� cime is uot sufficicnt to pay the Escrow Items when due, l.ender muy so notify Barrmver in �vriting,und. in such cu+c Hc�rruwer
<br />� ��►�!� shall pay to L.cndcr thc amount ncc:cssary ta mukc up thc dc�cicn�y. Borrowcr shall rnakc up thc dcficicnry in nn morc than �
<br /> `� � ° twclvc monthly paymcntti,at I.cndcr'ti solc discretian.
<br /> ' 3 Gpon paynunt in full of all sums secured by this Security Instrument, L,ender shall pmmptly refwid to 8orrowcr uny Q
<br /> � Funds held by 1.cnder. If,undcr paragruph 21,Lcnder shaU acquire or sell the Property,Lender. Qrior to the acquisition ur sale � �
<br /> - of the Property, shall apply any Funds held by L.ender at the time of acquisition ors�le as a cred»against the sums ticcurcd by �
<br /> �; this Sccurity Instrument.
<br /> x- 3.Appllcation of Puyments. Unlcss applicablc law provides otherwisc, ull pay�mcNs reccived by LcnJcr undcr purugruphs
<br />_� �a� I and 2 shall bc applied: first, to any prepaymcnt churges due undcr the Note;second,to amounts payablc undcr parugrnph Z;
<br /> �, [hird,to interest due;fourth,to princtpal due:and last, to uny late charge:;due underttie Note.
<br /> � �� 4. Charges; Liens. Burrower shall pay ull taxes, asscssmcnts, charges, fineaand impositions attributablc to the Property
<br /> which may attain priority over this Securny Instrumcnt, and Icaschold payments nr�round rents, if any. B�rrowcr shall pay
<br /> J °' these obligations in the manner provided in paragraph 2,or if not puid in that manncr, Burrower shall pay them on[ime directty �
<br /> �. to thc person owcd payment.Bonower shull promptly furnish to[.ender all noticcsof amounts to be paid under this paragraph.
<br /> If Borrower mnkes these payments directly,Borrower shull promptly furnish to Lender receipts evidencing the payments.
<br /> Borrower shull promptly discharge any lien which has priority over this Securiiy Instrument unless Borrower: (a)agrees in
<br /> writing to the payment of the obligation secured by the lien in a manner acccptable io I.ender;(b)contests in good faith thc licn
<br /> � by, or defends against enforcemcnt of thc lien �n, legal proccedings which in thc Lendcr's opinion operate ta prevcnt thc
<br /> enforcement of the lien: or (c)secures fram the holder of th� lien an agreemem satisfactory to L.ender�ubordinating the lien ta
<br /> ,�� this Securiry Instrument. If Lender determines that any part of the Propenv is subject to a lien which may attain priority ovcr
<br /> this Security Instrument, l,ender may give Borrower a notice identifying the lien. Borrower shull satisfy the lien or take ane or
<br /> 'k� more of the actions sct forth above within 10 days of the giving of notice.
<br /> 5. Hazard or Property Insurance. Borrower shall keep thc improvemenis now cxisting on c�reafter erected on thr:
<br /> _ � Properly insured against loss by fire, h:uxirds included within the tenn "extc�xled coverabe"and any other harards, including
<br /> _ ��.,r�c np t�nndin�: f,�r which Lender requires insurance. This'insurance sh11 I be n�intaineci in the amounts und for the periods
<br />- � that I.ender requires. Thc insurance curner providing the insurance shau be cnoscn i�y Borrowc� ,ab}�ct t:� L;.r�dcr's aprro��a!
<br />= which shall not bc unrcusonably withheld. It Borrowcr fails to maintain covcrage described above, Lcnder may, at Lendcr's
<br /> option, obtain coverage to protect Lender's rights in the Property in accc�rdance w ith paragraph 7.
<br />- All insurunce pol�cies �nd renewals sht+ll be acceptable to Lender and shal l include a stundard mongage clause. l.ender
<br />-. shall huvc the ri�ht to hold the pnlicies vnd rencaals. If L.cndcr reyuires,Borrow�rshall promptly give to Lcnder all receipts of
<br /> paid premiums and renewal notices. [n the event of loss, Borro�ver shull grvc�prornpi notice to the insurance carrier and Lender.
<br /> I.cnder may make prcx�f of loss if not mude promptly by Borrower.
<br />- Unless Lendcr and Borrower otherwisc ugrce in wrmng, insurance pro�ecds shal I bc upplicd to restoration or repair of the
<br /> Property dumageci,if the restoration or repair is economicnlly feasible und Lender'ssecurity is not Iessened. If the restoration or
<br /> repair is not economically featiible or L.ender's security would be lessened, the insurunce proceeds shall be applied to the sums
<br /> � serured by this Security Instrument, whether or not then duc, with any excess paid to Borrower. If Borrower abandons the
<br /> Aropc;rty,or does not answer within 30 days u notice from Lender that the insurance carrier hati offered to settle a daim, then
<br />_ I.,cnder may collect the insuranee proceeds. Lender may usc the proceeJs to repair or restore the Prnpeny or to pay sums
<br /> • • - - ,, secureJ by this 5ecurity Instmment,whethcr or not thcn duc. Thc 30-duy period will hegin when the notice is given.
<br />- ' Unless L�:nder and Borrower iithenvise agree in writing. any applicatiun nf proceeds to principal shall not extend or
<br /> '• p+�stpone the due date c�f[hc monthlv pavments rcfcrrcd to in paragraphs 1 anci 2 c�r changc thc amount of die puyments. If
<br /> under purdgraph 21 the Property is acyuired by Lender, Borrower's right to airy imuranee�licies and proceeds resulting from
<br /> ' damagc to thc Property prior to thc acquisition shall pass to L.cnder to thc cxtcnt o(ihc sums secured bv this Securiry Tnstrument
<br /> immcdiutely prior to thc acquitiition.
<br />– 6. Occupnncy, Fh•eservation. Muintenunce and Pratection of the Property;Uorrower's Loan Applfcation;LeASeholds.
<br /> � .. � Borrower shall occupy, cstublish,and usc thc Property ss Borrower';principal residence within sixry days after the execution of
<br /> this 5ecurity Instrumcnt and shall cuntinue to occupy the Properey as Borrower's pri ncipal residence for at least one year after
<br />-- � the date of occupancy, unless Lender othcrwise agrees in writing, which consent shall not be unreasonably withheld, or unlcss
<br /> cxtenuating circuinstiinces cxist whirh ure beyond Borrower's rontrol. Borto�•cr shall nc,t destroy, dumage or impsir the
<br /> ' Property. aUow thc Properry to deteriorate, or rommit wastc on thc Propeny. &rrro�ver shu(I bc in Jet'ault if�ny forfeiture
<br /> a�tion or prcxccding, whcther civil or rriminul, is bcgun that in L,endcr's�u�x1 faiih judgrocnt could result in forfeiture of thc
<br /> � Property or otherwise �natcri;dly impair thc licn�reated by this Sccurity Instrumcymor Lcnder's security interes�. Borrower may
<br /> cure such a Jcf:tult and reinstatc.as providcd in paragraph I 8,hy ruusing tt�c act ion c�r prc�ccedin�:tu bc dismissccf with a ruling
<br /> � ' that, in l.endcr'ti gu��J f,tith dcicrminutiun. prcrludcti torfciturc i�f th�Nc�rrnwcr'+ intcrest in thc Property ar othcr matcrial
<br /> ' . � impairmcnt of thc licn rrraicd by �hiti Scrurity Intitrwncnt or l.endcr's�ccurity intcrest. Burrowcr +hall ultic� 6c in Jcf'uult if
<br /> Bc�rrowcr, Juring thc luan appl�rution prurrsti,�.i�'c matcrially falsc ur inarcuratc mfc�nnation or�tatcmcnts to Lcndcr(��r failcd _
<br /> t��pruvidc l.cndcr with any mutcrial informaliun)in ronncrtiun with thc loun c�'idcnccJ hy th� Nulc. inrluding. hut nut limitcd =:
<br /> tc�, rcpresrntatiuns conrcrnmg fiurruwcr'+u�cupancy uf thr Yroperty as a priikipal resiJcncc. If thi>Sccurity Instrumcnt is on a
<br /> IcatichulJ. Burrow�r tiliall amiply with alf the provisions c�f thr Ieuse. if Bc�rrower acyuires Fee title tu the Property, the _.
<br /> Ica,chuld and thc fcc titic shall nut tncrgc unlc.s Lcndcr agrccs to thc mcrgcr in writing. _.
<br /> 7. Protcction of Lcndcr's Ri};htti in thc Propertv. If Borrowcr fails tci perfonn thc rovcnants and agr��cmcnts rontaincd in
<br /> thi`S�ruriry Inxtrumcttt. ur thcrc i�a lcgal pr���ccding that may signiticantly aflcct L.cndcr's ri�ht� in thr Pruperry (�urh as a _
<br /> procceding in hankruptcy. prubatc. liir rondcmnatiun ��r furfciturc or to cnfiircc la�vs or rcgulatu�ns). thcn Lcndcr may Ja and
<br /> p,iy G�r whatcvrr is ncc��aary lu prutcrt thc valuc uf thc f'roperty and I.cndcr'ti ri�hi� in thc Pruperty. Lcndcr's actions may
<br /> _ _ :...�...,_ .._..:.... ...... ......... .....�,��...i i,., ., r,�•„ wh��•h h:�c nri��ritv iwcr this Sccurity In�trumcnt, upp�aring in �uurt, paying
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<br /> rcas�mablr aUorncy�' fcc. and rntcrin�; un thc Pr��perry tu m.ikr rcpair�.Althnu�hLcndcr may takc actwn undrr tnis paragrapn
<br /> 7. Lcndcr ducs nol havc t��Ju ���.
<br /> Any amrnuit� di�hur.cd hy I.cndcr undcr lhiy paragraph 7 .hall hcrom�;x1�liliunal dcbt uf B��rrc»acr ticcurcd hy this
<br /> Srrurity Insuumrnl. tlnlcti�liurru�crr and Lcn�trr agrrr lu uthrr trrni�uf p:ryii�cnt. thcti�amuuntti +hall hrar intcrctit from thc
<br /> � dalc nf di�hurticmcnl at thc Nutr ratr anJ �ht�ll he payahlc. with intrretit, upcm nuticr Irom Lcndrr u� 13��rn�wcr rcyur,tin�!
<br /> f ��aynu�u. ,
<br /> 1 S. �1ort�;u};c Insuriuicc. II I.rn�lrr rcyuircd nturt�!agr iiuuranrc xy a�undi tfon ul nuikin� lhr I��an xcurrd hy�tlii�Sccurity
<br /> In�trwiirnt. Hurn�w�r .hall p:t} lhc ��rcmiuinti rcyuircd tu nsiint.iin thc niun�:��gc �i�sur.incr in cf�trrt. 11, fi�r :uiy rra.un, llic
<br /> Inu�nga�.c inwranrr r��rrragc rryuired hy I.rnder lap�r,nr rrax. tn hc in cllr��l.11urruwrr�h�dl pa�• thr rr�miumti rcyuirrd tu
<br /> . ��tri:llll Ci!\'CCI'r`L' �ttk��latnlia�l�• �•�p.ii.•:drni in ih�• mnrttt:ier in�uranrr prr�•iuu�l} ittcll'c�cL .tt a�ust suhstanti:dly ri�uivalrnt tu thc
<br /> ; ru�i ��� 13nrruwrr ul thr murt�a�r intiuranrc prc�iuu,l� in rltcrt. Irnm an ahc riut� nuirtga�r imurcr ap�rin•rd h�� Lcndrr. If
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<br /> 1 �..,,,.;.��.� Form3028 9/90
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