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<br />�•=�',�'� �encl�r'may,at any lkne, coll�ot and hold Funds In on �mount not to �xcMd ths maxMnum�mount a lender br a bdsrdty rekted mortp�pe
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<br /> ;!,��,�M•. 'b�n rruY r�quk� for porrowers e�crow �ccount undsr ihe lederel Ral Eel�te S�ttbmsnt Procedures Aot ol 1974 ae amsnd�d h�m t •to
<br /> „:-.,b, tkn�, 12 U.S.C. 2601 Yt saq• ("FtESPA"), unloss anolher law thet epplbe to 1he Funds a�ts � bsex emount. If so, LenWr m�y, �t �ny tNn�,
<br /> N�:r�fi�;�. Collsct �nd hold Fundn In sn amount not to exceed the kaesr emount. L�nd�r mey satMat� the emount of funds du• on the basls ol
<br /> '��w-`-•- currsnl d�t��nd reaeon�ble estknot�a of expendkune of fuWn Etcrow It�ms or olherwise In�ccordancs wRh appl�abb lew.
<br /> �' Tha Funds shall be held In en hstRutbn whas� depoaRe ers Inaured by � feder�l spMay, hatrumentalky, or entRy (k�cludw�p Lender, M
<br /> N�-���t�:�;•: Lender is auCh an InstRutbn)or in �ny Fedenl Mome Lo�n Bsnk. Lender sh�ll�pply ths Funds to pay the Escrow Items. Lender may not
<br /> . ,;� cherpe Borrawer tor holdinp end applyfnp the Funds, annually enlilyzfnp the saCrow �CCOUnt, or verMyfnp lhe Escrow Itsms, unless Lendo� �-
<br />�..•�.•�.. " p4ys Borrower interest on the Funds and app�c6�bW law permils Londar to mnko suCh a cherge. However. Lendar may requke Borrower to c._ .
<br /> '' ' pay a one-tkne ch�rpe lor an Independent reU�st�te t�x rsportlnq servbe used by Lender In connection with this lo�n, unbss epplfcabb law
<br /> •�• provides olherwise. Unless an aqreemant h made or applicebfe law requkes Interest to ba peid, Lender shall nol be requked to pay _
<br /> r�L • •
<br /> Borrower any Interest or eamhps on the Funds, Bormwer and Lender mey epree In wrRhg,however, ti�at Interest shall be peid on the Funds.
<br />-- Lender shall pive to Borrower,wfthout cherpe,an annual accounthp of the Funds, showinp credits end debRs to the Funds and the purpose
<br />=�� ; for wh�h each debR to the Funds was mede. The Funds ere pledyed as addRlonal securky lor all sums secured by this SecurRy �netrument.
<br /> II the Funds held by Lender exceed the amounts permkted to ba held by applbable law, Lender shall eccount to Borrower for the
<br /> excess Funds In accord�nce wkh the requlrements of epplbable lew. If the amount of the Funds held by Lender at eny tMne is not suMbient
<br /> n��'l� � ' to pay the Escrow Items when due, Lender may so notffy 9orrower in wrAhg, and, in such case Borrower shall pay to Lender the amount
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<br />'<�<•1,��� ; � necessary to make up the delbfercy. Borroner shell make up the delbiency in no more thnn tweNe monthly payments, et Lender's sole
<br /> ��` �,' dbcretlon.
<br /> -�^ ' °'"`' Upon peyment In full of all sums securod by this Securky Instrument, Lender shall promptly refund to Borrower any Funds held hy
<br /> _.:'•i �I:!'�j.
<br />-,�.�^"�: Lender. If,under paraqreph 21, Lender shal acquire or sell the PropeRy,Lender, Prlor to lhe acqulskion or sale of the Property, shall app
<br />.s-'7 •�•� eny Funds held by Lender at the time of acqulsftbn or sale as e credit ayahst lhe sums secured by thls Security Instrument. _
<br />_",..�S.i .:
<br /> 3. Applicetlan of Peymenta. Unl�ss applfceble taw provldes otherwise, ell payments received by Lender under p4rapraphs 1 an
<br /> � 2 shall be flpplled: fket, to any prepayment charges due under the Note; second, to amounts payable under paraqreph 2; thkd to Intxest
<br /> `�^�:":`��+�;, due;tourth,to prtncipal due;end lest, to any late cherpes dua under the Note.
<br /> ;. ,....�.
<br /> 4. Ch��gES; Llens. Bortower snall pey all texes, assessments,charees, fines and knposRlons attribut�ble to the Proparty whfch may
<br /> o��-�. ettaln priorRy over thls Securky Instrument,tnd leasehold payments or pround rents, if �ny. 8orrower shall pay these oblfqRtbns fn the
<br /> " manner provlded In pareprsph 2, or If not paid Yi that manner, Borrower shall pay them on tkne dkectly to the person owed payment.
<br />`w.a�..
<br /> _,. K;, Borrower shall promptly furnish to Lender dl notfces of amounts ta be paid under this perepreph. If Borrower makes these payments
<br /> ..=�;�;ev�x,� . dkecty, Borrower shall prompty fumish to Lender recelpts evldencing the payments.
<br /> �-�'• Borrower shall prompty dlscharpe eny fien whfch has prlorfty over this SecurRy Instrument unless Borrower: (a)aprees In wrkinp to tho
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<br />--_- Mo�M�;;t �� �tie „hit�petr,n ca:ured by the Ilan in a manner acceptable to Lender, (b) conlests tn good }akh the Iten by, or defends apainst
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<br /> --`.� •,�4� enforcement of the Ibn In� �epal proCeedhgs whfch In the Lender's �pinbn operate to preve�t the enforcement oi ine iw��; or i�;ow����~�•"•'•
<br /> �``����`�"� the holder ot the Ilen an aqreement satlsfaelory to Lender subordlnatinp the Iien to this Securky Instrumont. I} Lender delermines that eny
<br /> �r'�4_� part of the Property is subJect to s Ilen wh@h may attain prlority over this SecurRy Instrument,Lender may pNe Bortower a not�Ce IdentMyinp
<br /> ��s�� the Ilen. Borrower shnll sadsly the Iien or take one or more o}the sctions set forth ebove wfthln 10 days of the qNhp of not��.
<br /> ����"• 6. Hezard or Properl.y Inaurance. Borrower shell keep the knprovements now exlstinp or hereaker ereoted on the Proparty
<br /> <`��•��`�� hsured eyalnst bss by fke, hazards hcluMd wRhln the term "extended coverege" end eny other hezards, InCludinq floods or fbodkiq, for
<br /> --=���`��� whfch Lender requkes�nsurance. This hsunnce shall be malntalned In the emounts end lor the perbds that Lender requkas. The fnsurence
<br />�—��`�`����A c�rtqr providinp the �surenCe shalt be chosen b/ Borrower subJect to Lender'S epproval whfch shall not be unreasonobly wRhheld. If
<br /> -_�.:.�
<br /> -�,,,,�,,,,,ry� �orrowar fails to m�intain covarape descrbe� nbove, Lender mey, at Lenders option,ohtah covsraga to probct Landw's rqhts In t a
<br /> �-�-„��.�, Prpperty In accordance with parepraph 7.
<br /> -�� All insurance pol�bs snd renewals shen be acceptable to Lender end shall Include o st�ndard mortpape clause. Lender shdl hnve the
<br /> - =su;� r�pht to hold the polfcbs end renewais, If Lender requkes, Bortower shdl promptly pive to Lendx all recefpts of pa�d prumiums and nnew�l
<br /> "'°^'��5� not�es. In tha event of loss, Borrower sh�l gNe prompt notfce to the Insurance cerrler and Lender. Lendar may maka proof ol loss M not
<br /> �-�---�°-�-_�° made promptly by Borrower.
<br /> �" Unless Lender and Bortower otherwise aqree In wrRhp, Insurance proceeds shall be epplfed to restoratbn or repak of the Property
<br /> ''�°,����i'-� damaged, M the restoratlon or repeY Is economfcelty feasible and Lender's securRy is not lessened. If the resroratbn or repak Is not
<br /> -_:..L'--
<br /> a-� econom�ally feasN�le or Lender's security would be lessened, the Insurence proceeds sh�ll be epplied to the suma sacurad by this Security
<br />-•,�x�� InstNment, whether or not then due,wkh ony excess paid to Borcower. If Borcower abandone the PropeAy, or does not enswer within 30
<br /> --�-'�`�=«_� days a notlCe Irom Lender that the insurance carrier hes oftered to seltle e clalm,thon Lender may collect the Insurence proceeds. Lander
<br /> � �x.:.-��=—
<br />_____- may use the proceeds to repek or restore lhe Property or to pay sums secured by thls Securky Instrument, whether or not then dua The
<br /> ^�=-;�� 30•day period will bepfn when the nol�e is qNen.
<br />-������,;� Unless Londer and Borcower otherwise apree {n wrkhg, any application of procReds to principal shall not exle��d or postpone the due
<br /> ��.;��iv.*
<br /> date of the monthty payments referred to h parapraphs 1 and 2 or chanpe the amount ot the payments. It under parayraph 21 the Property
<br />` �� "�°�. Is ecquked by Lender, Borrowers rbht to eny insurnnce polbles and proceods resuftfnp Irom damege to the Property prbr to the acqulskion
<br /> �;: .� shall pass to Lender to the extent of the sums secured by thls Securky Instrument knmediately prior to the ecqulskbn.
<br /> 6. Occupency, Preservetlon,Maintenence end Protectlon of ti�e Properry; Borrower's Loen Applicatfon;
<br /> ' Leaaeholda. Borcower shall occupy, esleblish, and use the Property as Borrower's pr'ncipel residence withln sMy days efter the executb�
<br /> ot thls Securky Instrument end shall contlnue to occupy the Property es Borrowers princ�pal residence for et IeASt on6 year etter the date of
<br /> }+� occupency, unlass Lender otherwise egrees in writinp,whfch consent shall not he unreasonably withheld, or unless extenuating cirCUmstances
<br /> �! exist whfch are beyond BorrowerS control Borrower shall not destroy, damage or knpeir the Property, allow the Property to deterbrate, or
<br /> i commft waste on the Property. Borrower shall be fn de�auR if nny IodeiWro actlon or proceedfnp,whether cfvil or criminel, Is bepun thet fn _
<br /> Lenders good tekh �udgmant cauld resurt in lorfellure of the Proparty or othervvise meterially tmpak the �bn created by this SecurRy
<br /> , � � Instniment or Lender's security interest. Borrower may cure suCh a defauk and rehstate,as provided in pflregreph 18, by caushB the actbn '
<br /> - - -'-,-. _ .. . . ... ,.__ .�_. � ,_...,.,�.. .......� ioan dafwrmhetion.orecludes forteiture of lhe BOrcower6 hterest in the ..
<br /> - - -:
<br /> T Q�pfOCB9dln� �0 OB Oismissea wrtn e ��•�y u�a�. �. .-a����.- v--- ._.. __.. •-
<br /> y Property or olher material fmpaYment ol Ihe lien created by this Securdy Instrument or Lender's security Interest. Borrower shall fliso be In
<br /> de�auR it Borrower, durfng the loan epplcatinn proce5s, gave materally false or inaccureto Inlormat�en or stetements ro Lendor(or laited to
<br /> p�ovlde Lender wfth any material Informatbn) In connection wRh the loan evidenced by the Nota, fncluding,but not Iimlted to, represontatbns
<br /> conceming Borrower's occupancy o� the PropeRy es e princ�pal residonCe. It this Security �nstrument is on s leasehold, Borrower shall
<br /> � comply with ail the p�ovislons of the lease. II Borrower ecqulres fee tit►e to the Property, the leasehold and the fee title shall not m6rge -
<br /> � unless l.ender ugrees to the merger In�nrd'ng. -
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<br /> � i f'orm �OYS 9/90
<br /> � � Pap�?ol 5
<br /> � { FIOOBlMO (10�9P)
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