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<br /> �� not tq exceed the meximum amount a tender for a tederedry ret�ted modpaga toan may require for Banower'e escrow aeeount under tha �';,:,,�-,��""��--
<br /> . ' �tederni Roat Eetata 8eit(ement Procedures Ad of 1874 as nmended hom Ume to Ume, 12 U.B.C. 2801 et ooq. ('RE3PA"), unieae snother law '�'_:�f-`.'=:=`-�.-.y
<br /> ' ,�� - that appfleu to tho Funds seUs a tvsa�r ar�iount. tt eo, Lhid� �nsy, at any Wne, coiResccl and hotd Funds in en amaunt nat to oxc�d tfia --'-`�'-=�,
<br /> � . ta�eor amoun4 Lendar may eatimete the emaunt o1 funda due on the bnsis of current deta and reasonabte estimat�s ot ex�enditures of ° ��-•s�:'
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<br /> , future�eerow ftema or otherwtso Iri eccordtmco wiifi cpplitatrta taLr. _.�_.----.._.�.----___--
<br /> The Funds shail be hold In an Inetitutton whose deposfts are inaured by a tederal aooncy, tnstrumentelityr, or entity (Inciuding Lender,N .' ,' � _
<br /> �Lender Is suoh an InsUluUon)o�fn any Federat Nome Loan Benk Lender shafi epply the Funda to pay the Eacrow Iteme. Lender may not ,. • _
<br /> charge 8orrower for ho�ding and applying tho Funda,annualty analyting the eacrow aecount, or verttyfng the Eecrow iteme, uniess l.ender _.
<br /> pays Bo►rower tnterast on the Funda and appticabto taw pam�ita Lcnder to muico sueh A ehArge. However, Lander may requlra Bortowor to _ • : -
<br /> pay s one�time ohatge for an independent reat eatete fax repoRing service used by Lender in conneotion wfth this toan,unless appltcabte lev� „
<br /> provldes otherwlse. Unless an agreement ia made or appllcabie law requiras interest to be pefd, Lender shail not be required to pey •
<br /> I3oROwer any interest or eamtngs on the Funds.Bortower and Lender mey agroe!n wrfting, however,that interest shali be paid on the Funda. r
<br /> ��dor she�!ghre io Borrower,wfthout charge,an annuai accounYing af the Funda,ehowing credHs and debRs to the Funds and the putpase _
<br /> � •. fbr wP�fch c�cP►debtt to the Funds v�as made. The Funds are pledged as addttlonal securtty tor all sums secured by this Security InatrumenG
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<br /> �,;1� 3 i9 4he Funds held by Lender �cce� the amounts permitted to be hetd by appticabte taw, lender shall account to Bortower tor ihe
<br /> �;��.`r.;.•;.,1:
<br /> .:.?,;..,�,.,,�,�. oxcoss F�trtds ise e�GCCrdanao witPt Ne tequUements of appllcable lew. It the amount oY tho Eunds he:d by 4endes at any time Is not sufficient
<br /> "" ' �i:� 4o pay the Escrow Rems when due, aencfer may so noWy Borrower in wrttirtg,a�d, ie�such caso Borrower sAati pay to dettder the amount
<br /> ' '�%::.'_.:i.�
<br /> �°;';.��. ne�ossary �� nnako rp the deftdency. (�eerower ahell make up the defldency in no more than iw¢;ve month(y �yments. AY 4ens�eers sole _
<br /> � " discreUon.
<br /> , . Upon payment In 4u'.l of all sums sc3cured by thEs Seeurity Ins4rument. Lender shalt promptly refund to Bertower any Fun�s held by f
<br /> lender. It, under parac.,�^�.^21, Lender shall aequlr�e¢se�the Pro�xerty.Lender, Ri�e to the acquisition or sate ot tho Properry, shall appty �
<br /> � . • � any Funds hetd by Lender i:the tlme ot acqulsiUo� o� saZQ as a credit against tho smr,ns secured by this Secudty Msbvmvnt. �,+ :i�=�:�.
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<br /> , ;,.{•:,;: . S.Applteation of �aymero8s. Uniess appAcable lew provides othenvise,ali payments recei+ed by lender under pav�oraphs 1 and � ,�n�e.,,;:,-
<br /> �nt charges due under ihe Plote; secoe�¢I, ta amounts pay+�bie under paragraph 2; third to interest � �` '�"'
<br /> „ ',', �, 2 shall be appited: flrat,to anY P�lm' � � ` :.
<br /> I i �:�,t�c '.��. ^ . :
<br /> ;r , �r �, due;Sourth,to pdncipai du�;and tast,to�any late chazges due under the N�:a.
<br /> '' � '" 4. Ch 8r g88; Uetl9. Borrower shall pay ail taxes, asaeasments.charges, flnes and Imposltlons attributable to the Froperty whlch � ''�.5;?
<br /> �_ � may attein pdority over thia Securily instrument,and leasehold payments or grouod rents,if any. Bortower shall pay these obligations in the „ "�"?'��'
<br /> manner provided in paragraph 2, or B �ot paid in thet manner, Borcower ehati pay them on dme direoUp to the person owed payment. '���''���'-
<br /> Botrower shail promptly fumlah to Lender all noUces ot amounts to be pald under this para�raph. if Borrower makea these payments , � �+x�:
<br /> directly,Botrower shell prompUy fumish to Lender rewipts evidendng the payments. Ih ' , L.
<br /> .,,.;.
<br /> Borrower shall promptly disoharge any Ilen which has pdorfty over tMa 3ecurlty Inatrument uniess Borrower. (a)agrees in writing to the i • "'��,�°`,!; ;
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<br /> payment ot the obiigatbn secured by the Ilen in a manner acceptable to Lender, (b) conteats in good fafth the Ilen by, or defends agak�at � ,• .,, . ,
<br /> ,.:;.._ enforoement of the Gen in,.fegal procaeJu�yb wt+lch in ihs Landsr's aptr.:ar.opersle!a pre��f!1hE sni4!cement of!h?Ilan; nr(c)ser.ures irom C.-. . ..:�N._:_��!'��'.__
<br /> �•�' '' the holder of the Iten an agreement satistactory to Lender eubordineting the Ilen to this Security Instrument. If lender detertnines that eny �'`���•"' ��� .
<br /> � purt of the Property is subJeot to a Oen which may attaln pdority over thls Security Inatrument, Lender may give Borrower a notice idenUf�Ang � •���� �" �`
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<br /> �:�. • the Ilen. Barrower ahall satiaty the Ilen or take one or more of the aationa set forth above within 10 days of the giving of noUce. • ;�,�,,;, � �� :
<br /> , „, � n
<br /> 5. Hezard or Pra�erty Insurance. BoROwer shali keep the lmprovements now existing or hereafter erected on ihe Property � � ;,;�,��• • IjR j "`
<br /> . '�.� insur e d a g a i n s t b s s b y ft r e, h a z a r d s I n c t u d e d w i t h i n t h e t e r m "e x t e n d e d c o v e r a g e' a n d e n y o t h e r h a z a r d s, I n c i u d i n g fl o o d s o r i l o o din g, for � "+°'":r y :
<br /> � whioh Lender requires insurance. This insurance sheU be malntalned in the amounts and for the periods that Lender requires. The insurance ; ' ��
<br /> • �' '' , carrter provlding the Insurance shall be chosen by BoROwer subJect to Lender's approval which shail not be unreasonably withheid. It ; ",.'�'!
<br /> Borrower talis to melntak► coverage descdbed above, Lender may, at Lender's option, obtain coverage lo protect Lender's rights in the �
<br /> ' '. . Property in accordance with paragraph 7. � }'
<br /> � '�� All insutance polides and renewais shaY be acceptabie to Lender and shali Inciude a standard mortgage ciause. lender ahall have the � -.��
<br /> - '.,'.. .i�. '��'�;;;�_... :' .•/
<br /> • � �, right to hotd the policies and renewais, It Lender requires. BoROwer shal prompUy give to Lender all receipts of paid premiums and renewal . �,.-.y;�
<br /> ' ;� notices. In the event of Ioss, Bortower shall ghe prompt notice to the insurence caMer and Lender. Lender may make proof of Ioss If not 't�.:%. ��`•' •
<br /> � `:"'.1 made prompty by Bortower. ;: , ��� t t� ` ,;f;5 -
<br /> � ,�,i;; UNess Lender and Borrower otfierwise agree In wripng, inaurance proceeds shell be appNed to restoraUan or repalr of the Property • ; � `=
<br /> .. ,� .'_.
<br /> � damaged, M the restoration or repair Is economicelly teasible and Le�der's security Is not Ieasened. Ii the restoration or repak Is not ' ` '�'S„�' :'
<br /> . ' economically feasible or Lender's security wouid be lessened,the insurance proceeds shail be applied to the sums secured by this Security � ; :'�;,
<br /> �',•�' � tnatrument,whether or not lhen due, wlth any excess paid to Sorrower. N Borrower abandons ihe Property, or does not answer within 30 � '�' ��•
<br /> '::�t� :
<br /> days a noUce from Lender that the insurance cartier has oNered to setlie a daim,thsn Lender mey coHect the insurance proceeds. Lender
<br /> •• + may uae the proceeds to repalr or restore the Property or to pay sums secured by this Security Instament, whelher or not then due. The I
<br /> .� I 30�day period wil begin when the notice is gtven. '
<br /> � Un�ess Lender and Borrower oiherwise agree in writing,any applicetion of proceeds to principal shall not extend or posipone ihe due
<br /> • , date of the monthly payments referred to In paragrephs 1 and 2 or change the amount of the payments. if under paragraph 21 the Property
<br /> � (s acqufred by Lender, Bottowers right to any insurance policies and proceeds resufting from damage to the Prc��r.v �rtor to the acqulsition
<br /> . shati pass to Lender to the extent of the sums secured by this Security Instrument Immediateiy prior to the acquisR�n.
<br /> , . �. ' 6. Occupancy. U�reservatio�, Maintenance and Protection of the Property; 8orrowe�'s �oan
<br /> AppliCetiOn; L�asehotds.Borrower shafi occupy, estabFst�, and use the Property as 8arra+ucrs prindpai residence wRhir saty days
<br /> after the execuGon of this Securfty Instrument and shail continue to occupy the Properry as Horra.�er's prindpat residence for at Ieast one
<br /> year after the date of occupancy, uniess Lender othc-�wise agrees tn writing, which consent shall not be unreasonaby withhe�d, or unless „
<br /> extenuatlng circumst�nas exist which are bcyurtd Ba-ower's control. Borrower shail not desuoy, damage or cmpair the Propeity, allow the �
<br /> Property to detaiorate. or commft waste un tne Frcpcerty. Borrower shell be in default it any feAature actiort ar �Sroceeding. whether civil or
<br /> - criminal, is begun that in Lender's gaod fa�tn judgment rould result in fadeiture of the Prapert�r ar othervvise materialiy impair thc 4en created
<br /> '�'�'r by imis Security Instrument or Lend�rs secuniy interest. Bortowes mey cure such a detault and reinstate, as provided in �arag*aph 18, by
<br /> . eausing the ectfon or proceeding to I�e �smissed with a ruling that. in Lender's good fartn determinatfon. precludes for►erture of the
<br /> � 13ortewctr's intetest In the Property or otn�metena� impa�rmenr or tne nen createa D}I II115 jEG11'�[y IIISI�I1rt1en� or i.cnuer� Scwriiy iriiacni -
<br /> 8orro�v�shali aiso be in de}auft if Dorrow¢r, during the loan application process,gave matenaliy t�1se or inacwrata�nfortnanon er statements
<br /> . ( to Lender (or faqed to provide Lender�vith any material informatton) in connection with the loan evidenced by the Note. mGunSng, but not
<br /> timked to, representaUons concemmg Borrower's accupancy of the Propeety as e prinapal residence. If this Security Insttument is on a
<br /> � leasehold, Bortower shall compty with a�l the provisions of the Iease. If Borrower acquires fee titie to the Property, the Ieasehoid and the
<br /> tee tide shall not merge uniess the lender agrees to the merger in w�ting.
<br /> P1gc I c�5 F�•m }�79 99U
<br /> . F1049 LM6(b941
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