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<br /> �� ���''���'" Tho Funds shall bs h,.ld in un institution wtrose deposIts are insurod by a federal,ageacy. instrum�ntatity. or entlry
<br /> ._„�.��,�; „
<br /> (lncluding l.ender.if Lender is such a�3nstitutian)or!n any Foderal Home Loan Bank.i.ender sMll upply the Funds to pay the
<br /> :',�� --��=f un; ' Escrow Items.Lender may not chnrge Borrower for holding and applying the Funds. annnally analyzing the escrow account.ar -__--
<br /> �_.'�.�.y;�a,;�.':�,;'� verifyla�the�scrow Items,unless l.emt�r payA Borrower interest on the Funds nrtd applieable!aw�aer�its Lcnder to malce suc}w �=� _-=
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<br /> n charge. However.l.ertdcr mny uirc Borrawcr ta pAy u one-time charge for nn irtdcpendent reul esWte tax reporting servlca ---
<br /> � ' ,�• used by Lender In wnmection wi this loao, unless npplicabfe law provides otherwise. Unless an ugrecment is made or
<br /> • , • opplicuble Inw requires interest to be paid.I.ender sheli not be required ta pay Borrower any interest or eAmtngs on the Funds.
<br /> ,:�� .. Boreower and Lender may agrec in wrlting,however,that interest shall be paid on the Funds. Lender shail glve to Barrawer. —T�=
<br /> �� :��s�� "�"� withaut charge, un annusl eceountins of the Fun�is.showlng credlts and debifs to the Funds �nd the pwpose for whtch cach �ry
<br /> " debit to the Fun�.c was made.The FuRds are pledged as addItional seciuity f�r all sucres secured by this 3ecur�ty Iastrument. E�.�p�°°-
<br /> � � ' . If the Funds held by Lender excced the amaunts perrtutted to be held by applicable law.Lender shall acoount to Borruwer ��^*-^_
<br /> ' for the excess Funds in accordnnce wlth the requirements of appficable law. If the amount of the Funds held by i.ender at any �°"-
<br /> ,� �.-—.. - time is not sufRclent to pay the 8scroe�v Items when due. Lender may so notify Borrower in writing,Rrul,in�uch case Borrower �'--
<br /> , �fu � shall to Lender the amount re �"�
<br /> pay ecessary to make up the deftciency. Borrower shatt make up the deficIency In no more than .x---
<br /> t�velve manthly payments.at I.endcr's sole discretion. �.:-w:
<br /> � • ' IIpon paycrtent in f u l l o f a l l sums secu r e d by t h is S e cu r ity Instcument, I.e n der s h a l l prbmp t ly re f un d ta B or r ow e r a n y ;;;:�`��_-
<br /> Funds held by Lender.If.under paragraph 21. Lender sh�ll aoquire or sell the Property,Lender.pdor to the acquisition or salc� p.,:'°=_
<br /> �% of the Property,shall apply any Funds held by Lender at the time of acquisition or sale as a credtt against the sums secured by =__-_-
<br /> this Secutiry Instrumem. �;�::�._
<br /> 3.AQ��t����f I�c�ents.Unless applicabte law provides etherwise,all payments received by Lender under paragraphs ���:�_,,.
<br /> ' 1 end 2 shai�be app!ied: first,to any prepayment cltarges due uader the Note:second,to amounts payable umler paragrsph 2; - -
<br /> third,to interest due:fourth,to principal due:artc!last,to any laze charges due under the No�e. �i;��r:
<br /> 4.�mauge�; Ltens.Borrower shali pay all taxes,assessments, charges. firtes and imposieions attributabte to the Bregerty � "•r•�"_
<br /> which may attain priority over this Secur�ty Insmiment, and leasehotd payments or grourtd rents. if any. Borrowee sh�116 pay �`�--•--
<br /> these obiigations in the manner provided in paragraph 2. or if not paid in that macmer,Borrower shalt pay them on ti�ne die+�cQy
<br /> . to the person owed puyment. Borrower shall promptly fumish to Lender AII notioes of antounts to tse pacd uruter 4his�arageaph. .
<br /> , If Borrower makes these payments directty.Bomower shall promptly fumish to Lender receipts evidencing the payments. -
<br /> Bornower shall promptty discharge any lien which has priority over this Security Instrumes�t�cmless Borro�ver:(a)agQees in •
<br /> � writing to the payment of the obligation secured by the tien in a manner acceptable to I.ender;���cvntests in good faoth ikee 2ien _
<br /> . by, or defends against enforcement of the tien in, legal praccedings whieh irt the Lender's apinion opsrate to prevamc the ';,.�;�
<br /> - � enfarcement of the iien; or(c)secures fram the holder of the lien an agreement szitisfactory ro Lender subordinating the lien to �
<br /> , this Security Insuument. [f Lender deternunes that any part of the Property is swb�ect to a lien which may attain priority over ��',��,..':
<br /> ' this Security Instrument, I.ender may give 9orrower a notice identifying the lien. Horrower shatt satisfy the lien or take one or ,
<br /> more of the actions set forth above aithic� @0 day�s c�i the giving of notice. "
<br /> 5. �aaerd or Property Insuraa��e. BorroKe�shall keep the improvements now exisaing or hereaRer erected on thc 4
<br /> Pro�perty insured against loss by fire. hazurds incUucled within the term "extended coverage"and any other ha�ards. including .. .;�
<br /> floods or flooding, for which L.ender requires insurance. This insurance shall be maintained in the amounts and for tha periods `; „
<br /> ______ _ _ that l.ender requircc The insurance carrier pmviding the insurance shall be chosen hy Borrower subject to I.ender's approval r'
<br /> which shatl not be unreasonably withheld. If Borrower fails to maintain coverage de.scribed above, Lender may,at Lender's .:
<br /> option,obtain coverage to pmtect Lender's ri�hts in the Property in accordance with paragraph 7. `
<br /> Al! insurance policies and renewals shall be acceptable to d.ea�3er and shull include a standard mortgage clause. fl.�n�er
<br /> shall have ohe right to hold the policies and renewals.!f[.e�ider re��uires,Borra�ver shall promptly give to Lender alt rece6�c;of -
<br /> paid premiwns and renewal notices.In the event of loss, Borrow�e�shall give prarnipt notice to the insurance carrier and I.ender.
<br /> ' Lender may make proof of loss if not made promptl� b} �oPtower.
<br /> , Urnless ixnder and Borrower otherwise agree in�crating,insurance proceeds shall be appiied to restoration or repair of the
<br /> Pra�peny da:r�aged,if the r�storation or repair is economically feasihlc and Lender's security is not lessened.If the restoration or
<br /> repair is not economically feasible or Lender's security.would he te�sened,the insurance praceeds shail be applied to the sums ,.
<br /> secured b�• this Security Instrument, whether or not then due, w•ith any excess paid to Horrower. lf Borrower abandons the
<br /> Prog�erty, or does not answer within 30 day�a notice from I.ender that the insurance carrier has offered to settle a claim, then
<br /> s:��,;�. l,ender may collect the insurance proceeds. Lender may use the prcx�eeds to repair or restore the Property or to pay sums
<br /> secur�l by this Securiry Instrument,whether or not then due.The 30-day period wiil begin when the notice is given. -
<br /> �r�� , Uniess I.ender and Bornower otherwise agree in writing, any application of proceeds to principal shall not extemd or
<br /> �:�,:%, postpone the due date of the monthly paymentti referred to in paragraphs 1 and 2 or change the amount of the payments.If
<br /> ' under paragraph 21 ihe Property is acquired by Lender. Borrower'�right to an}• nnwrance policies and pnoceeds resulting from .
<br /> damage to the Propeny prior to the acyuisition shall pas�to Ixnder to the extene eT�the sums secured by this Security Instrument �
<br /> �• immediately prior w the acquisition.
<br /> � 6.Occupancy,Preservation.l►taintenance and Protection of the Propert�•;Born►wer's Loan Application;Leaseholds. �
<br /> Borrower shall occupy,establish, and use the Prupeny as Borrower',principal residence w•ithin sixty days after the execution of
<br /> � this Security Instrument and shall mntinue to occup�•the Property ati Borrower's principal residence for at least one year after '
<br /> the date of occupancy, unless Lender othencise a€reeti in H•riting, which eonsent �liall not be unreasonably withheld, or unless
<br /> extenuating cireumstances exixt W�hirh are beyond Borrower's rontrol. &�rcower �hall not destroy, damage or impair the
<br /> Propeny, allow the Property to deteriorAte, or mmmic waste on the Property. Borrower shall be in default if any forfeiture
<br /> action or proceeding. whether civil or crimin3l, is be_un that in C.ender's gcx�d f�ith judgment muld result in fodeiture of the
<br /> Property or otherwise materially impair the lien created b�•thi�Securiq•lnstrument or Lendzr'.xtiurity interest. Borrower may
<br /> cure such a default and reinstate,a�ppo�ided in paragraph 18, b� cau�ing the actiun or proceeding to be dismissed with a ruling
<br /> that, in Lender's good faith determination, precludes forfeiture of the &�rrawer's interest in the Pmperty or other maqcrial
<br /> ,.� impairtnent of the lien created by thi� Serurity ln�trument c�r Lender's ,i�urit} interetit. &�rmwer shall also be in default if
<br /> Borrower,during thc lo:�n appliration pr�ke1., ga�•�nwteriallc fal.e or inarrurat� �aforniatic�n ur statements to Lender tor failed
<br />- tnprovide Lender w•ith�m materisl inf�.rniatiun� in cunn�Ytion��ith the loan evn;lcroceei by the Note,inrluding. but nut limited
<br /> � to, repre•en�ation�ecmrtrning&rrr��aer'.�xrupanr� ��f thr Pre�perty�+a principal residenre.If thiti Security lnurumeni is on a
<br /> �'' �� Iea.�ehol�[. �:�rcow•er shall �emipl� ��:th .i!! the pru�i+iciro uf the lea.c. If Borrow�cr acyuire. (ee titlr tu thc Prc�per��, the
<br /> �' �. feasehol�t a��t the fec title shall nc�t mcrge unlc,>Lcnder agrec�to the mcrgcr in��•riting.
<br /> ' ' 7.�eotection of Lmnder's Rights in the Pro�pert�•. If Borrc�w•er f�ils to perfc�mi the covenants and agreements contained in
<br /> • this Serarity Instrument. ar there is a legal proceeding that may tiignifirantL� afc�y�t Lender's rights in t9c: :�n�perty (such as a I.
<br /> ' ° proceed'n��in bankruptc�•.probate,for conJcmnation or forfeiture ur to enfu�rce �an•s or regulations).then �ender ma} do and i
<br /> �.� 1 pay fur uhatrver i�neces,ar�•to prnt��t the �•alue of the Propem �nd Lender'. nghts in the �roperty. Lender's acuoR> may ;
<br /> ' `�'� • � indude �a�ing an� �ums serured b� ,c lien ���hirh ha� priuric} v�er thi. Security Imtrur.r::t. xppe:irir,g in rn�ort. au�ing
<br /> '�.. . reacnnable attorne�-�'fee�and entenrc•��,n the Prcinem t�i mahe renain. Althnush l.ender mat take action under thi. c�arzeirauh ..
<br /> 7,L,ender does noi ha�e to do.a � � � �
<br /> Any amnunt� di,F�ur.ed by Lender under thi�paragraph 7 .hall hc�amte additional debt uf &►rn�uer se�ure.i h.• this
<br /> Secunry Imtrument. l:nlz.. &�rrc.wer and Lender:��rce to other term�c�f�S:��mem. the�e:imc.unt, .half t+ear irttere.t tntm thr i
<br /> date of di�bursement at the tiote ret� and�hall he payahlc. uith intere.t. up��n niitice from LxrtJer ta &ttme�er en}u��tmg
<br /> payrnent. �
<br /> �. �Iloet�a�;�DacrDCartee.If[.ender requirexl tnungage in�urance a.a��nditicm�.f m:a[:ing the Ie�sn ta'CUretl ht thi�Sctiurity !
<br /> Instrument. Borrouer Yhall pa� the pmmium. myuircc3 tn maintain the m�itteagc in,urancc in tff�t If. ti�r am rw.wn, the �
<br /> mortgage insurance co�ersge rcyuired by Lender Iap+e� ur cea�r.tu tk in eCf�ct. &�rrrntier,hall pa� th�pr�mium.reyuintif to
<br /> obtain m��crage ruhtitantiaUy cyui�alent to the murtgage inwr3n�r pre�iuu.l� m e1'(ect,at a«��t�uh+tantially ryui�alent tii the
<br /> mct to Bormw�er of the mc�rtgage imuran��c pre�ii�u+l�• in cff�tit, fn�m :�n altcmalc nx�ngagr m.urcr appru��d h� L�nder. If �
<br /> v,y<a o�a Fo►m 3028 9190
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