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<br /> ••�••�r� The Funds shall be held in an institution whose �eposits ure insured by u fcdcrat ugency, instrumentatity, ar emi�y �--r
<br /> (including Lendcr. if I.ender ix such an inrtttutian)or in uny Federnl Home Loun Bank. Lender shall upp�y the Funds ta puy the __
<br /> ' - Escrow Items.Lender muy not ch�+r6e Horrower fur halding and npplyln� the Funds,annuully unulyzing the escro�v account,or
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<br /> .`:'� vcrifyin�the Escraw Itcros.unless L.cnd�r pays Bnrrawer intemtit on thc Funds und applicuble luw permits I.em�lcr to mahe such
<br /> ���� a churqc. Hawever.Lender may rcyuire Borrawer to puy u cme•tlnle churbc fitt i►n independent reat estnte tux reporting servicc
<br /> =��*` uscd by I.ender in connection with this laan,unless applicubtc law pravides othenvise. Unless iin ugrcemcnt is made or � __
<br /> applicuble Inw rcquires interest to be paid.Lendcr sha�l nut Uc rcquired tu puy Barrnwer uny interest or caminga on the Punds.�
<br /> ��• � Borrower nnd Lender may agree in writin�,howevcr,that interest shatt be pu�d un ti�e Fund�. Iw:ndcr shall give to Banowcr.� . �—
<br /> :;*"'�y withnut chur�e,an annusl accaunting of the Funds�,shawing credits and debits to the Funds nnd the purpose for which euch
<br /> debit to the Funds was mude.The Funds ure pledged as additional security for uil sums secured by this Security Irytitrument.
<br /> If the Funds held by L.ender excced the amounts permitted to be held by applicable law, L.ender shall uccount to Bnrrowe
<br /> .•�� for the excess Funds in accordance with therequirements of applicable law. If the amount of the Funds held by l.ender at un�
<br /> _-- time is not suftictent to pay the Escrow Items when due.Lender mssy so notify Horrower tn writing,and,in such case Borro�ve
<br /> shall pay to I.ender the e�nount �ecessury to make up the deficiency.Bonower shaU muke up the defictency in na more th
<br /> ���� twelve monthly payments.at Lender's sole discretion "
<br />-:��: Upon payment i� full of all sums secured by this Secudry Instrument, Lender shall promptly refurtd to Borrower any
<br /> r�.x�= Funds held by Lender. if,under paragraph 21. Lender shell acquire or sell the Pmperty,Lender.prIor to the acquisitton or sale
<br /> '`,�'� of the Property,shall apply any Funds held by l.endet at th�tlme of aca;uisidon or sale as a credit agatnst the sums secured by
<br /> a_°� this Securiry Instrument.
<br /> -- 3. App9�cetton of Payments.Unless appHcable law provtdes otherwise,all payments received by Lender under paragraphs
<br /> ------- ( and 2 shall be applied: first.to any prepayment cherge�c due under the Note;second,to amounts payable under para�caph 2:
<br /> third,tn interest due;fourth,to princ�pal due; and last, to any late charges due under the Note.
<br /> _. 4. Charges; Liens.Borrower shall pay all taxes, assessments.charges, fines and impasitions atu�ibutabie to thc Property
<br /> which may attain prIority over this Secudty Instrumeni, and leasehold paymenu or ground rents. if any. Borrower shall pay
<br />` ;?f�*=� these obligations in the manner provided in paragraph 2.or if not paid in that manner.Borrower shall pay them on time direcdy
<br /> �;y� to the person owed payment.Borrower shall promptly furnish to Lender all nodces of amaunts W be paid under this paragraph.
<br /> r,_,�, If Borrower makes these payments directly,Borrawer shall promptly furnish to L.ender receipts evidencing the payments.
<br /> -----=— Bortower shall promptly discharge any lien which has priority over this Securiry Instrument un[ess Borrower:(a)a�rees in
<br /> wridng to the payment of the obli�ation secured by the lien tn a ma�er acceptable to Lender; (b)rnntests in good faith the lien
<br /> n^�� by, or defends a�ainst enforcement of the lien in,le�al proceedings which in the L.ender's opinion operate to prevent the
<br /> ?�;�� enforcement of the lien:or(c)secures fmm the holder of the lien an agreement satisfactory to I.ender subordinating the lien to
<br /> —�"� this Secudty Inshwnent. If i,ender determines that ony part of the Property is subject to a lien whlch may attain priority over
<br /> this Security Instrument.L.ender may give Borrower a nottce identifying the lien. Bonower shall satisfy the lien ar take one or
<br /> more of the actions set forth above w�thin 10 days of the giving of notice.
<br /> 5_ Ha�srd or Prolterty Iasurantx. Borrower shall kcep the improvements now exisdng or hereafter erected on the
<br /> Property{nsured against loss by fire, hazards included wiWin the term extended coveragc" a��d ar►y ati�er hazards. 'saclus3iu;
<br /> floods ar flooding,for which Lender requires insurance.This insurance shall be maintained in the amounts and for the pedods
<br /> .�:i that Lender requires. The insurance cacrier providing the insuranee shall be chosen by Borrower subject to I.ender's approval
<br /> which shali not be unreasonably witi�held.If Banower fails to ma3ntain coverage described above, Lender may,at Lender's
<br /> option,abtain coverage to protect I.ender's rights in the Property in accordance with paregraph'1.
<br /> All insurance policies and renewals shall be acceptable to Lender and shall include a standard martgage claus$. I.ender
<br /> shall have the right to hold the policies and renewals,If Lender requfres.Borrower shaU promptly give to L,ender all receipts of
<br /> --- paid premiums und renewal notices.In the event of bss,Borrower shdl give prompt notice to the insurance can'ier and Lender.
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<br />�.,�.�� I.ender may mske proof of loss if not made promptly by Borrower.
<br /> � Unless I.ender and Borrower otherwise agree in wnting,insurance proceeds shall be applied to restoration or repair of the
<br /> property damaged,if the restoration or repair is economically feasible and Lender's security is not lessened.If the restoration or
<br /> repair is not eoonomically feasible or Lender's security would be lessened,the insurance procee�is shall be applied to the sutns
<br /> secuced by this Security Instrument, whether or not then due, with any excess paid to Borrower. If Horrower abandons the
<br /> property,or does not answer within 30 days a notice froni Lender that the insurance cartiet'has offered to settle a claim.then
<br /> ,.� Ixnder may collect the insurance proceeds. Lender may use the proceeds to repair or"restore the Property or to pay sums
<br /> secured by this Security Instrumeut,whether or not then due.The 30-day pertod will begin when the notice�s given.
<br /> Unless Lender and Horrower otherwise a�ree in writing. any application of proceeds to principal shnll not extend or
<br /> postpone the due date of the monthly payments referred to ia paragraPhs 1 and 2 or change the amount of the payments. If
<br /> under paragraph 21 the Property is acqusrc� bp L..^r�cr.Borro�:er��nSht sQ say insursstte golicles nnd praceeds resultin�from
<br /> = damage to the Property prlor to the acquisition shall pass to I.ender to the exteni of the sums secured by this Security Instrument
<br /> ::;_� immediately prior to the acquisition.
<br /> - 6.pccupancy,Preservation,lVlatntenauce and Protection of the Property;.Borrower's Loan Applicatton;Leaseholds.
<br /> Borrower shail occupy,establish,and use the Propeity as Borrawer's principal residence within sixty days after the execudon of
<br /> this Security Instrument and sheli continue to occupy the Property as Borrower's principal residence for at least one year after
<br /> the date of oaupancy,unless Lender otherwise agrees in writin�. which consent shall not be unreasanably withheld,or unless
<br /> �� extenuating circumstances exist which are beyond Borrower's control. &►rrower shall not destroy. damage or impair the
<br />"':� Property, allow the Property to deteriorate. or commic waste on the Property. Borrower shall be in default if any forfeiturc
<br /> action or proceeding,whether civil or cdminal. is begun that in I.�nder's good faith judgment could result in forfeiture of the
<br /> properry or otherwise materIally impair the lien created by this S�curiry Instrument or Lender's security interest.Borrower may
<br /> ��� cure such a default and reinstate.as provided in pa�caph 18.by causi�g the action or proceedIng to be dismissed with a ruling
<br /> -------- that, in Lender's good faith determination. precludes forfeiture of the Borrower's interest in the Property or other materiul
<br /> - impairment of the lien created by dus Securiry I�trument or Lender's security interest. Bornower shait alyo be in default if
<br /> � Bonower,during the loan application process.gave materially false or inaccurate informaaon or statements to Lender(or faitad
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<br />-;x:• to provide Lender with any materitJ information)in connection with the loan evidenced by the Note.including,but not limited
<br /> =--- to.representations concerning Borrower's occupancy of the Property as a principal residence.If this Security lnsuun►ent is on a
<br /> �� Ieaseh�ld. Bonower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Praperty. the
<br /> leasehold and the fee title shall not merge uniess Lender a�rees to t1►e m�rger in writing.
<br /> ��*�� 7.Prutection of Leuder's Rights in the Praperty.If Borrower fails to perform the covenants and agm�ments contained in
<br /> '�'"�'"�� this Securiry Insmiment, c�r there is a legal proceedin�that may significantly affect Lender's rights in the Property(such as a
<br /> �::�■ ..:.,Mun4mntrv nmhate. for rnndemnation or forfeiture or to enforce laws or neguladons),then Lender may do and
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<br /> pay for whatever is necessary to protect the value of the Property and Lender's nghts m tne rropercy• ianic��a�.«�« ���ai
<br />- = v_;� include paying any sums secured by a lien w6ich has priority over this Securtty Insuua►ent, appearing in court, paying
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