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<br /> : • Bonow�r'e sscrow�ccount und�r ths fsd�nl RKI Est�te Settlemait Procedurss Act of 1974 aa amended from tfine ro tfms, t2 U.S.C. _,.,_
<br /> « 25p� ��s�q, (•RESPA"),unNsa �nothsr yw th�t�pplM�to thY Funds sets a Nssw amount. If so,Lendar moy,ot�ny tlma,oolMC!and :
<br /> 1L�:-�_
<br /> ' hold Funde In an emount nol to exceed th�Naser nmount. L�ndsr mty estMate th� amount ol lunds due on lhe ba5ls of current data bf�,
<br /> �. end resaonabk estknates of expendRures of luture Escrow Items or otherwise In eccordnnce with ePP��nble lew.
<br /> _ ,.,�r,,,r,.
<br /> Ths Fun68 6htll bs held h an fn6tRutlon whoso deposRe u� fnsured by a federal eyency, instrumentalily, or entity (hcludhp
<br /> � Lender, if Lond6r Is suCh an fn8litut�on) or fn any FodMtl Noma Loan 9ank. Lender ahail apply the Funds to pay the Eacrow It�s. : `;,_
<br /> ,t Lender may not charfle Borrower for holdhp en� appN�fl tha Funds,ennualy analyzinp the escrow eccount, or verHyhq the Escrow ,.'`��':
<br /> ;�:__
<br /> f lums,unwas Under pay� Borrower IntKest on tho Funds and applbabM law psrmfts Londer to make such v ChuQe. Howavlr,L�nd�r ti�'-
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<br /> _ ` may roquko Bortower to pay a on�tYnn ohorgo for an hdependYnt rwl est4te tax repoRlnp sorvfce used by Lender h CGnnaCtbn wRh
<br /> � ;��� thb ban,unMas eppibtbb yw providsa othawks. Unbas �n aqrNrnent h mad�or applbable 1aw requ�res►ntxeat to b�prld,Lendw <<,��,-
<br /> � shtll not b�raquirsd to psy Bortow�r my ht�nst or s�minpt on tha Funds. 8ortowM and L�nd�r may �prM In wrklnp, howw�r,that ::;��
<br /> � intsnst shall b� ptld on tha Funda. Lendsr �hall pN� to BorrowK, wkhout oharp�, an annual accounthp of th� Funda, ahowinp :�=
<br /> � credRs and debRs to the Funds and th� purpos�tor whlah ach dobk to th� Funds was mads. Th�Funds an pNdyod as addNbnal � :`
<br /> securky for all sums secured by thls SecurRy InetrumMt. t s_._
<br /> If the Funds held by Lender oxceed the amounts permitted to bs hatd by appl�able law, Lender shali ncoount to Borrowx for the � ____
<br /> � excess Funds In accordance wkh the requk�rtwnts of appifcabk taw. If the amount ot the Funds held by Lender at any tkne Is not =
<br /> SuM�ient to pay the EsCrow Items when due, Lender rrwy so notify Bonower In wrfthq,and, h suah case Borrower ehell pay to Lender � �_ -
<br /> �e the amount necessary to rrake up the defblenoy. Bortoxer shall make uF the defblenay in no more than tweNe monthly paymsnts,at � _
<br /> �� �..
<br /> , Lenders sole discretbn. �
<br /> Upon payment in full of all�ums secured by thls Securfty Instrument, Lender shall pramptly refund to Borrower any Funds held by �m
<br /> � Lender. If, under parayraph 21,Lender shall acquke or sell the Property, Lender,prlor to the aoqulsRbn or sale of tha Propsrty, shall � ___
<br /> epply any Funds hald by Londer at the tkne of acquisftbn or sala as a credN against the sums secured by lhis Security instrument. _
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<br /> � 3. AppUcation of Peyments. Unless appllcable law provides otherwlse, ell pqyments recaNed by Lsnder under pYrepnphs �-
<br /> t and 2 shell be applied: IYSt, to eny prepayment charyes due under the Note; seaond, to amounts payeble under paraynph 2; thkd
<br /> to fntarest due; tourth,to prinoipal due;and last,to any late charqes due under the Note. -
<br /> � `��� 4. Cherges; Liena. Bonower shall pay all taxes, assessments, charpes, tines and knposftlons attributabla to the Property
<br /> •[l�•.� whbh mey attah priorfty over this Socurky Instrument, and teasehold paymente or pround rents, if any. Borrower Shail pay these
<br /> obifpatbns h the manner provlded h paraqraph 2, or H not pald In thet manner, Bonower shall pay them on tkne dkeotty to the person
<br /> � owed payment. Bonower ehall promptly fumish to Lender ali notbes of amounts to be peld under this perayraph. If Borrower mekes
<br /> • these payments directly, Bortower shall prompt�y turnlsh to Lender recelpts evidenchg the payments.
<br /> Bartower shall promptry dlsoharfle any Ilen whfch has priority over this Securky Instrument unless Borrower: (a)aproes in wrRinq to
<br /> � the payment of the oblqatbn seCUred by the Ilen in a manner acceptable to Lender; (b) contests In good faRh the lien by,nr detends _
<br />' -_-___-____— ��g��t nntnrr.emxnt of the Iien In, legal proCetidhqs wh�Ch h the Lender's opinbn operate to prevent the entorcement of the IMn; or(o)
<br /> ^' secures hom the holder of the Ilen sn ayreement satistactory to Lender eubordinotinp the Ilen to tnis Securrty instrumeni. ii L�r�cr
<br /> � detertnhes that any part of the Property Is subJeat to a Iien whbh may ettein prbrky over this Security Instrument, Lender may phre
<br /> , Borrower a notice IdentHyhq the Iien. Borcower shell satisly the Ilen or take one or more ot the ectlons set forth above wRhln 10 days
<br /> • of the qNinp of notiae.
<br /> . b. Hazard or Property Insurenco. sonower shell keep the Improvemente now exisch9 or nereaner ereaced on ene
<br /> , . Property insured aqainst loss by fke, harnrds hcluded wkhin the term "extended cove�age"and eny other ha�rda,Inoludfng fbods or _
<br />_� . „ .�,� ibodinq, for whbh Lender requkes Insurence. This hsurence shall be ma5ntahed h the amaunts and for the perbds that Lmde
<br /> . � requkes. The In6uranCe ctrr{er provldhp the insuranCe shell be Chosen by Borrower subJeCt to Lender's approval which shtN not be
<br /> ,,, unreasonably wkhheld. If BoROwer falls to maintaln coverepe described above, Lender may, at Lenders optlon,obtaln aoverape to
<br /> protect Lender's riphts�n the Property in eccordence wkh paragraph 7.
<br /> All Insurnnce policles end renewals shsll be acceptable to Lender and shall hcNide a standerd mortqaps Clause. Lendsr ahall havs
<br />.� ,-r,.� L the rfpht to hoW the poliCles and renewals, If Lender requkes. Borrower shall promptly yhre to Lend9r nll reCSipta ol psid prsmiums
<br /> , • and renewal notfces. In the event of bss, Bortower shall yNe prompt notice to tha hsurence carrler and Lender, Lendar mty maka
<br />� pr�ot ot bss M not made promptly by Bortower.
<br />-� Uniesa Lender and BorcOwer othenvise ayree M wrRhq,Insurance proceeds shail be epplled to restorYtbn or repaP of the Property
<br /> damaped, H the restoratbn or repalr Is econombally feasible and Lender's securky Is not Iessened. If the restoratlon or rep�k la not
<br /> economfcalty tsasib{B or Lenders security would �e !essenod, the msurance proceeds shall bo spplied to the sums secured by thls `�
<br />- SeCUrfry Instrument, whether or not then due, with flny excess pald to Borrow6r. It Borrower abandons the Property, or does not _
<br /> ' � answer wkh{n 30 days a notfce from Lendor that the Insurance carrier has oHered to sett�e a clakn, then Lenda� rnay collect the
<br /> • ' insuranco proce9ds. Lender may use the proceeds to repak or rectare the Property or to pay sums secured by this SeCUrity -
<br /> � �+� Instrument,whether ur not lhen due.The 30-day poriod will begfn when the notiCe is gHen. _
<br />- ^ Uniess Lender and Borrower otherw�se agree in writing, any application of proceeds to prinC�pal shall not extend or postpons the __.
<br /> . due date of the monthly peyments reterred to h paragrnphs 1 and 2 or Change the emount of the payments. If under paraproph 21 `4;__
<br /> the Property Is ecquf�ed by Lender, Borrower's rfpht to any Insurance poliCles and proceeds resuRing lrom damape to the Property prbr __`
<br /> , I to the acqulsRlon shau pass to Lender to the extent of the sums secured by this SecurRy Instrument knmediately prbr to the .-
<br /> flCqulsftlon.
<br /> � 6. Occupancy, Preservation, Meintenance end Protectlon at the P�operty; Borrower'a Loan
<br /> : Applicetton; Leaaehotds. Borrower shall occupy, establish, and use the Property as Borruwer's princlpal resldence wRhin sbcty
<br /> i days aftor the ezecutlon oi this Security Instrument and shall contlnue to occupy the Property as Borrower's principal residence lor at
<br /> least one year after the date of occupancy, unless Lender othenvise agrees fn writing, wh�ch consent shali not be unreasonably
<br /> - withheld, or unless extenueting circumStanC9s exist whlCh are beyond Bonower's control. Borrower ahAll not destroy,damage or impair ,
<br /> i
<br /> the Proporty, allow the Property to deteriorate, or comrnit waste on the Property. Borrower shall be in default �� eny IoAefture aCtlon or
<br /> proceeding,whether cNil or criminal, is begun Ihat i� Lender's good faith judgment could result in fortefture of the Property or otherwise
<br /> __... __. . . ._._ �...�....,..... ... �a„ao.�� sor.��drv Intnrest. Borrower maY cure SuCh a defauR and
<br /> .. ^--° ���.,,,......... ...
<br /> met9rieny knpflx tne iien creaiea uy u��a w..�c:� . . --- -
<br /> � refnstate, as provided N parRgraph 10, by causing the actlon or proceeding to be dlsmissed with a ruling that, in Lenders qood}aith
<br /> determhatbn, prgCludes �orfeilure ot the Borrower'S interest in the Property or other materisl Impalrment of the Iien created by thls
<br /> Security Instrument or Le�der's security interest. Borrower shall also bo f� default if Borcower, during the loan epplfCatlon process,
<br /> gavo materially false or Ineccurote M�ormatlon or stetements to Lender (or faibd to p�ovlde Lender wlth any materlal Informatlon) In
<br /> ' connection with the loan evidenced by the Note, inc�uding, but not Iimited to, reprssentalions concerning Borrow6rs oCCUpancy of the I
<br /> I
<br /> Property as a princlpel residence. If this Security Instrument is on o laasehold, Sarrower shell complp with ell the provlslons o► the �
<br /> �eII58. If BorrOwer flCquires lee lit�e to the PrOperty. lhe leasehoid and the lee lille shell not rrerge urq�� :"c =c^.�'.cr s8'°°= �^ thQ i
<br /> merger in writing. Fo�m saze o�eo �
<br /> — Payo 8 0�5 '.
<br /> _ F�OYO-lM(1(�0/871 �
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