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8orrowers escrow a:,•count under the iederal Real Estate �ttiement Procedure� Act of 1974 es emended hom Y'tne to thte, 12 U.S.C.
<br /> 26pt et seq. ("RE�'A"? uniess another !aw that applias to the Funds sets a lesser amount. If so, Lender may, at any Cune, coflact and
<br /> hald Funds in an amount not to excaed the lesser amount. Lender rray esCmate the amount o�(unds due on the basis of current data
<br /> and reasonabl� �stimates of e�endftures oi future Escrow Items or otheniise in a�corGc�nce wkh appllaabls Iaw.
<br /> The Funds shatl bs hek� in an instdut:on whose deposRs are insured by a federal flpenCy, hstcumantalitty, or entity {fnCluding
<br /> Lender, if Lender is <.uch an institutfon) or in any Fede�ai Home,Loan Bank. Lender sha8 apply the Funds to pay the EsCrow Items. ,
<br /> lender may not charge Borrower tor holdlnp and applyhp the Funds, annuaUy enalyz�ng the escrow account, or veri�ying the Escrow
<br /> Items, unbss Lsnder pays Borc�w� interest on the FunQs and appGcable law penn�ts Len�to meke such a charge. Nowever, l.e�der
<br /> r-tiey require Borrower !o pay a one�time charge for an independent real astete tex reporting service used by Lenden c �onnoction wkh
<br /> th� ban, unless appf'�cable law prc�vides otherwise. Uniess an aereement is made or,applicabfe taw requires interest to be paid, Lender
<br /> shatl not be required to pay Borrowar any interest or�aminQs on the Funds. Bortower and Lender may agrse in wrking, however,that
<br /> interest sha0 be paid on the Funds. Lender shali ghre to Bortower, without charge, an annuetl accounCn�psei the Funds, showing
<br /> credits and debits to the Funds and th� purpose tor which each debR to the Funds was ma�ie. The Funds are pledged as additional
<br /> security 1or al sums secured by ihis Security Instrument.
<br /> I! ttse Funds held by Lender exceed the amounts psrtn�ted to be held by app!'aabla law, Lender shal! account to BoROwer for the
<br /> excess Funds in accordance with fhe requ'rements of appC�cabie law. IE the amouni of the Funds held by L�der et any tkne is not �
<br /> sufficient to pay the �scrow liems when due, Lendar may so notrfy Bortower h writing, and, in such case Bortower shep pay to l.ender �
<br /> the emount necbssary tu make up the de�ficlency. SoROwer shatl ineke up the deficlency h no more than twoNe monthy paymenta, at �
<br /> Lends�'s sole di�cretan. �
<br /> Upon payment in tuli of aU sums secured by this Sscurity Ins4nament, Lender sha0 promptly retund to Bortower any Funds held by O
<br /> Lender. If, under paragraph 21, Lender shail acqulre or seli the Pro�ty, te�der, prbr 4o the acquisRbn �Dr sale of the Property, shaA .� '
<br /> appiy any Funds heid by Lander at the time of acqufskbn or sate as a credit agsinst the sums secured by this SecuriF; Instrument. �
<br /> 3. Appllca4ion of Payments. Unless applbabia law providas olhervvfse, al! payments receNed by Lender under paregraphs '�
<br /> 1 snd 2 shall be applied: first, to any prepayment cl+arges due vnder the Note; secand, to em�unts payabis under paragreph 2; thlyd (�
<br /> to interest due; fouRh, to principal due; and last, to any late charges due undsr tho Note.
<br /> 4. Charges; Liens. Borrnwer sha11 pay $II tar.es, assessments, charges, f'nes and impositbns attr�utable to the Property
<br /> which may attain priority over thls Security Instrument, and leasehald payments or ground rents, if any. Bortower shaii pay thes9
<br /> obligations in the rnanner provided irt paragraph 2, or if not paid in that manner, Borrawer sheil pay them on time d' ty to the persom ^-
<br /> owed payment. Borcower shall prompty fumish to Lender alt noC�ces of amounts to be pald under this paragreph. R� orrower makes
<br /> thes6 payme�ts d'cecty� Bortotver shall prompty furr,Esh to Lender recepts evid�«ing the payme�ts.
<br /> Bonower shal�promptiy discharpe any li� which has pri�rity ov�this Securt4y Inshuman! unless Bor,ower: (a)agrees in writhg to
<br /> the payment of the obligatan secured by the i+en in e manner accoptable to L.endsr; (5) contests h good fakh the Itsn by, or defends
<br /> agAinst enforcement of the i'�en in, {egal proceedings which in the Lende�'s opinbn operate to prevent the en(orcement ot the lien; or(c)
<br /> secures from the holder of the tien an agreement satisfactory !o Lendor subord'nating the I(en to this Security InsWPnenL If Lendsr
<br /> determines that any part of the Property is subject to a fien which may ettah priority ovar this Security Instrument, Lend9r mey give
<br /> BoROwer a notice identifying the 1'ran. Bortower shaU satisty the lien or tttk9 ane or more of the sctans set torth above within 10 days
<br /> ot tha gNinp of notwe.
<br /> 5. Hazard or Property Insurance. Bortower shsN lceep th£ n�Rroveme�ts now existing or hereatter erected on the
<br /> Property hsured ageinst loss by fire, hazards incfuded wAhin the tertn 'e�dended coverage' and any other hazards, Includ6ng tioods or
<br /> flooding, for which Lender requires rc�surance. This insursnce shall be meintaned h the amounts and for the perbds thet Lendsr
<br /> requ6es. 7he Insurance carsler provlding the hsursnce sl:ell be chosen by 8orrowar Sub)ec! to LenderS approvai whiCh shall nOt be
<br /> unreasonaby wNnheid. If Borrower fails to maintsh Goverage dc�scr�ed ebovo, Lender may, at Lenders eptbn, obtah coverspe to
<br /> protect Lenders rigtits in the Property in sccordance wdh paragraph 7.
<br /> All insurence pot'�cies and renewals shan be acceptabie to Lender end shall incf�de a standard mortgage cteuse. Lendor shall have
<br /> the rght to hold the poiicies and renawals. {f Lender roquires, Borrowe�' shati prompty give to Le�der aA re;oipts ot pald premlums
<br /> and rene�val noticas. In the event ot �ss, F3ortower shsll gnre prompt no4ice tc the fnsurance carrier and Lender. Lender may make
<br /> prooi of bss ff not made promptly by Borrower.
<br /> Unless �ender and Borrower othenvise agroe in wr�ing, �surance p�oceeds shatl be app!ied to restoration or repafr of the PropeRy
<br /> damaged, 'rf the restoration or repai� is economicaly feasbie end Lendera securky is not iessened. If the restoralbn or repair is not
<br /> economicaty feasbia or Lender's security woufd be lessened, 3he insura7ce proceeds shall be applied to the sums s�CUred by this
<br /> Securiry lnswment, whether or not th�n due, wfth any �ccess patd to E3�rrower. if 8orrower abandons the Proporty, or does not
<br /> answer wkhin 30 days a notice from Lender that the hsurance carrler has oHered to settle a cleim, then Lsnder may colfect the :
<br /> insura��ca proceeds. Lender may use the pro�eeds to repair or restore the Property ar to pay sums secured by thls Security
<br /> tnstrument, whether or not then due.The 34-day period will begin when the nofxe is �iven.
<br /> Unless Lender and Borrower othorwise a9� � ��9� �Y aPD►�8tion of procseds to pr'ncipal shaA not extend or postpone the
<br /> due date of the mon;hy payments retrirred to in paragrephs 1 and 2 or change the amount of the psyr.�ts. If under pa:�greph 2S
<br /> the PropeRy is acquired by Lender, Borrowers right to any insurance policies and proceeds re�uKing from damage to ths Propsrty prior
<br /> to tha acquisition �hau pass to Lerider to the extent of the sums secured by this Security InsUument immediatey prior to the
<br /> acquisition.
<br /> 6. �ccupancy, Preservatian, Main4enance and Protection of the Property; Borrower's Loan
<br /> f� Appl3cation; Leaseholds. eorrower snau ��cupy, establish, and use the Property es Borrowers principal resldence wkhin s6cty
<br /> �- days aRer the executbn of this Security Instrument and shall continue tu occupy the Property as 8orrowers principal resldence tor at
<br /> €` ieast one year efter thd date of occupancy, unless Lender otherwise agrees in wrRing, whlch consent shaF not be unreasonaby
<br /> r` wfthheld, or unless extenuathg chcumstences exist whbh are beyond BorrowEtt'S Control. Bortower shall not destroy, damage or knpair
<br /> the Property, elbw the Property to deteriorate, or commk waste on the Property. Bortower shall be In defauh N any forfekure ectlon or
<br /> proceeding, whether civil or crimhal, Is begun that h L�ders gcod fakh )udgment coutd resuR In foAekure of tha Property or otherwise
<br /> materially impafr the I'�en crc�ated by this Security InsWmt:nt or Le�ciers security Interest. Ronowsr may cure such a defauk and
<br /> re'v:state, as provided in paragrsph 18, by causing the actbn or proceeding to be dismissed wkh a ruling that, h Lender's qood falth :
<br /> detertnination, precfudes torfeiture of the Borcowers interest h the Property or other mate�iei knpairment of the I'�en created by ihis
<br /> Securitq Inswment or Lenders securiry Interest. Borrower shatl elso be In defauft i( Borrower, during che ban appFiccatbn process,
<br /> gave materially fafse or haccurate In(ortnation or statements to lender (or fatled to provide Lender wfth any materlel hfo.�matbn) In
<br /> ccnnoction wkh the ban evidenced by the Note, in.luding, but not IfmRed to, representations concemin9 Bortowers oCCUpancy of the
<br /> Property as a pnc�ipal residence. If thfs Security Instrument Is on a leasehokl, Bonower ShaN comply wlth all the provlsbns ol thg
<br /> lease. If Borrower acquires lee tkls to the PropeRy, the laasehokf and the fa3 tkte ShaN not merpe unless the Lender 8pree5 t0 the
<br /> merper in writng. u
<br /> � Form 9Q2E�j90�._ -
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<br /> . . . FtOtY.ltAO(to/Yi) Pay� Y ol 5 � _
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