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<br />-..�_�'�''�� '�'�ic Fu�ds shnfl ha hefd iia ui� in•�titudnn ���h��s� �tcrcitiit4 u�a in4urtcl by n fe�lr�ral n,r.ncy, insirunt;nt�tlity, or GrNity
<br /> ---------- (incittdfng l.ender.if Lcnder is tiuch un institntlon)or in uuy Fe�leral Ho�ne L.Nan 9ank.I.erxirr tiha0�ipply ti�e runcl.r t�i pay th�
<br /> Bscraw Itcn�s.I.endcr mqy not cherga Bcirrawer for holding xiui opplying the Fur�s,w�nually analyting tt�e escruw�cuunt,or
<br /> eerify�ng the Escraw[tems.unless�.ender puye Borrciwer intcrest nn thc Fu�uls atKi u licabic luw prtmitp L.ender In nuke wch
<br /> a charge.Hawcver.[.ender in•ry raquire Harrower to pay u onc-dn�.churge !'or an i�cpendcitt nal cstkte tu�e��x►rting�rrvice
<br /> nsed by Lender tn connoctian with this luan, untecs appiicablc IAw provides aeherwice. Unless w► �yrcement iR mMde wr
<br /> - _ applicubte faw requlr�s intcrest to he p�I�l.Lendcr shnli nat bc rr,quired tu pay Bonower any int=rest ar carnin s un otre PundK.
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<br /> Sortawer and Lctnter may agne iu wr�iti�ig. howeve�.tl►ut lntc��;st�41a!!6:,�aid on th�Fuads. LC:tdcr sltall g vr..tn F�nrrnever, ,,_--_ -
<br /> wlthout charge, un annual accounting of the Fnnds. showing crtditx nnd debiGg to tho Fu�xis rand the purpose for which each
<br /> deb[t ta the Funda was made.The Funds are pledged sis addiNanAl security for uii sums secured by thIs Suurity[nstniment.
<br /> - -- if the Funds held by l.ender axcxed thcs Amounts per[mitted to bt held by appIfcuble luw.I.eider bhall uccount to Borrower
<br /> for the exoess Fund.g in ncaoi�dunce wtth the requtrement� of appltcnblt luw. If the umount of the Funis I�eid by Lender at�tty ,
<br />- . t�ina Is not sufflclent to pay thc Escrow Items when due,I ender muy so notlfy 8orrawcr in writing.and,in such cave Borrower
<br />��,_,; shaU pay to Lender the amount necesscuy ta make ap the defictency. Borrower sh�ll make up the deficicncy in no mare than
<br />_��,, twelve montktiy payments.at[�ende�•'s sale disctetion.
<br />�? �. Upon payment in full of ail swns securod by this Securiry Instrument, I.endrr shall prompdy refund to 8orrower any
<br /> Funds held by Lender.If,under par.�rAph 21,Lueder shall ucquire or sell the Property.Lendcr.prior to the uoqulsition or sal�
<br /> '� of the Pmperty.shall apply any Funds held by L.e�er at the time of ncquisiUon or sale as n r,redit against the sums s�xured by
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<br /> ,� . this Security Ins+�ument.
<br />-� ;'� 3.ApplIcatbn o!Paymcats.Unless applirabte law provides otherwise.all payrnents reccived by i.ender wider parngraphs
<br /> 1 and 2 shall be applied: f rst.to any p�paymeat chsuges dne under the Nate:seoond.to amounts paysible under paragraph 2:
<br /> - third.ro intemst dus;fourth.to principal due;and last,to any late charges due under the Note.
<br /> �.Chargesi L14'n�.Borrower sliait p:�y aIl texes�assessments.churgr4.�nes and im�usitians attri6ut�bte to!he Prn�rty � ..
<br /> which may attain prlority over this Sacurity[�cwneent. ar►d leasehold payn�ents or grourd rents. if any. Borrower ehall pay
<br /> Wese obljgati�ns in the muaner provided ln patugraph Z,or if not paid in that rcrarmcr.Barrower shall pay them on tune dit+axly
<br /> ' "`°� �� to the pe�son owed payment.Borrower shalt promptly furntsh to I.enaer ull rtatices of amounts to be paid nnder this para�mph.
<br />_ If Borrotver makes these payments dinrtly.Burrower shall promptly fumish to Le.nder reoeipts evidencing the payments. _
<br /> • �„ �_ • Boarower shall pmmpd,y discharge any lien which has pnority over this Security Instxument unless Hotrower.(a)ag�es in
<br /> writin�:to sbe payment of the obligation securod by the lien in a manner acceptable to l.ender;(b)contests in good faith the lien
<br /> by. or de�'ends against enforcement vf the lien in. legal proceedings �vhich in the l.ender's opinion operate to pnercmt the
<br /> enforoement of the lien;or(c)secums fmm the holder of the Iten an agccemont sat�sfactory to I.ender subordIaating th�Ilian to
<br /> �`'� this Serurity Instrument. If Lender determtnes that any part uf the Property is subject to a lien which may s�in prioriiy aver
<br /> ,, this Securiry Instniment,I.ender may give Borrower a notice identifying the fien. Bormwer shall sutfsfy the flen or tuko onc ar
<br /> �:�x�� �"` more of the actlons set forth above�vithjn 10 days of the�iving of notice.
<br /> � �''�'L'` 5. Hezard or Propeity Insaranoe. Aorrower shall kecp the improvemeins now existing or hereafter ererted oa the
<br /> � f? "� -. , Property insured against loss by fine.ha7ac+ds inetuded within che term"exicn�tvcl wvcia�"aad any�th�.:r ha�rds. isscl:sdkt"e °
<br /> �,���';�.; tioods or flooding.for�vhich L.ender rcqutres insurance. This insurance shall be cnaintaireed in the amrnunts and for the periods
<br /> :;a�-�,�H : . �S�•� that Lender c�equlres. The Insurance carrler praa�id'mg the insurar�ce shall be chosen by Borrower subjec�eo Lender's approval
<br /> :, ;�"'"`'�'�~'=° whi�h shall not be unreasonabiy withfield. If Bo�rawer fails to maintain coveragc described above. [.�a�.r may. at Lender's
<br /> ::��{�•'t � ; � option.obtain rnvera�e to protect Lender's rights in the Property in accordar►ce with para�raph 7.
<br /> • '� • ' Afi insucance pol(cies and renewals shall be acceptable to L.ender and shall include a standard mortgage clause. Ixnder
<br />_. ;,;f��.i'�,k:�i��t:4�'�::�_ sha(l have the right to hold the Qolicies and renewels.If L,endcr requires,Borrower shatl pmmptly give to Lender ul!reoeipta af _
<br />- :� �e,,l+;,,, d remiums and a�nev�al nouces.In the eveat of toss,Borrower shall givc prompt notioe to the i�sun�nce cArr:er and L.endeff. _
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<br /> ;:;<�;.;,,;:.;.4.:•.' Lender may make pc�f of toss if not mnde promplly by Borrower. ^�r•�..
<br />_ ,�:,�,�.,,,A,;�*,..;,...;,f,' Unless Lender su►d Borrower otherwise agree m wntmg. insutunce pr+ocaeds shaq be applied to re�toration or mpa�r of t�tg ���__.:
<br /> •.4.•,•.;»�.:. : ��:,• pmperty da�naged.if tho restoratianor.repairis eoonomically feasible su►d L.ender's security is not lessenec�.if the restoratian or _
<br /> _ ..,� ' ".��:,;��,' r�epair is nut 000nomically feASible ar�Lxnder s secudty would be lessened. the insurunce procceds shall be applied to th�aums
<br /> ? ,'���'�'-"�ti� securad by this Serurlty Instniment. whether or not then due, with any excess paid to Borrowcr. If Bannwer abaR����s the
<br />_ :�.n��,��:,,�, property�or does not answer within 30 days� nouce from Lender that the insurance carrier has offered tw settle a clsnzn,then
<br /> •�►��•�--•:ti�: Lender may collect th¢ insurance proceeds•LendQr may use the proceeds to repair or restore the Property or to pay sums
<br /> -m�;,,+�,r..�..�+� secured by this Security Insuument.whether or noi uhen due.The 30�day period will begin when the notice is given.
<br /> " ' '"` �-'" Unless Lender and Borrower othrnvise agree in writing, any application of proceads to principal shall not extend or
<br /> .x.;:�,;':.::- .•,;;�.
<br />� ; -3::�_.-.':. .�, postpone the due date of the monthiy payrnents referred to in paragraphs 1 and 2 ar changc the amount of che payments. If
<br />_ ���`�•. � y..• under paragraph 21 the Property is acquired by Lender, Borrowei s rtght to any insurance policies und procreds resuldng from
<br /> , , _ ' damage to the Property prior to the acquisition shatl pnss to Lender to the extent of the sums secured by this Securiry Instrument
<br /> • ' "' immadiately prior to the aoquisition.
<br /> � 6.Oacupancy,Preservation,Maintenan�e a�td ProtecNon of the Pr�ptety;Borrower's I.oan ApplicatEon;I.easehnlda
<br /> Bomower shall oocupy,establish.amd use the Pmperty us Boreo�ver's principal residence within sixty days after the execution af
<br /> "`. "__� ,�•^,;. this S�cudty Instcu�rtent and shalt �antinue to accupy the Property a��Bnrcower's principal msidence for ut least one ye�r t�er
<br /> . .z- .�-�-
<br /> •�'°��,;;' the date of occupuncy,unless Lender otherwise agrees in writin�, which consent shall not be unres+onably withheld.ar un�ss
<br /> ,, �,'+'��':�.�' extenuatin� circumstances exist which are beyond Dorrower's rnntrol. �rrower shall not destroy, damage or imp�ir �he
<br /> ,:- Property.ullow the Prop�cty to deteriorate,oa commit waste on the Property. Bc�rrower shall be in defuult if any Forfeiteore
<br /> " j•. �' ,�,ti� action or proceeding,whether civil or criminal,is begun that in Lender's �oad faith judgment could result in forfeiture oi.ehe
<br /> t .:� i�-�•; Property or othetwise materiully impair the lien created by this Secttrity Instrument or[.ender's serurity intemst.Borrower n�ay
<br /> tr:,�
<br /> . -' .i iG�:�,•;
<br /> . , „!;, cure such a default and reinstate,as pmvided in paragraph 18,by cau�ing the action or praceeding to be dismissai weth x vuling
<br /> ' ,. � that. in [.ertder's good fatth determination,precludes forfeiture of thc Borrower's inte�est in the Property ur oth.�anztoria!
<br /> impaimtent of the lien created by this Securiey Instn►ment or Lender's�ecurity interest. Borrower shall alw be in defuult if
<br /> ' Borrower,during tRe loan upplication proccps, gave materially false or ina��cutate information or stute�niEnts to I.ender(or failod
<br /> �i "1,�, • ' � to provide Lender�vith any material informaticm)in rnnnection with the loan evidenced by the Nate,nnduding,but not limited
<br /> ` ' to,repmsentutions conceming Borrower's oaupancy of the Property as u principal residence. If this SY.�,urity Instrument is nn u 4
<br /> _ �' � ��` `;' leasehold, Borrower shall mmnS}• wi[h all the provisions of the lease. If Borrower sc�yuires fee ti,rle ro the Propeety. tha i
<br /> ' }�� leasehold and the fee dde shali nr�merge unless Lender agrees to the merger in writinF.
<br /> �;' �� 7.ProtMtan of Leadcr's Rfghts in the�roperty. If Borro�ver fail�W perform the covenants and ss_zrccment�rontained in
<br /> � . this Secarity Instrucnent. or there is a legal pra�eeding that may significandy a(fect Lender's rights in the Praperty I�uch us a I
<br /> n�•.,d�no in i�nlcn,ntev_ nio9ate. for condemnation or forfeiture ar to enforce I•rws or rc�ulutions), then Lender may do:uid L
<br /> _ -______— - �•------.� . _ ,
<br /> �ay for whatever is neoessacy to prote�K the value of the Pmperty and Lender's rights in the Pmperty. Lenaer s ac[ians may
<br /> � • mclude paying any sums secured by a lien �vhich has priority over this Security Instn�ment, appearing �n coun, paying
<br /> •! re:tson:iblc ttttorneys'feeti:utd entering on the Pcoperry tu m:ike rcpairs.Althuu�th Lcndcr may take action under thiti psragruph
<br /> --• 7,Lertder does rtot huve to do u►.
<br /> ' � Any amounts disbursed by Lender under this paragraph 7 tihalt become udditiun�t Jcbt of Borro�ver sccurcei by ehiti
<br /> Security Instn►ment. Unless Borro�ver aad I.ender agree to other term+af paymcnt,these amuunts�hull bcar interc�t In�m the I
<br /> date of disbursement at the Notc rate artd shall be payable, with interest, upan nnticc I'mm I.endcr to Bo�mu�er m yuestin g
<br /> payment. � .
<br /> ! 8.Diortgage Insurrance.If L.ertder rcquired rriortgage in,ursnce:u a��urtdition oi'nmking thc l��n+�tiurc�i by thi�Sccurity I'
<br /> � Instrument. Borrower shail pay the pmneiums required to nu�intain thc mung�ge insuranre m cffa.-t. If, for;my nasun. thr �
<br /> mortg;�e insuran�r cbverage spquired by Le►tcier lapses ur��c�ues to bc in effert.&�rm��cr sh�ill pay thc premiums reyuin�tn
<br /> ` ubm►in a►ver.►�e substnntial�y equrvulent to the moctgage i�uurun��e pmviausly in etTert. at a�v�t substantially ��yuivalent to tt►e
<br /> � � - rnsi to Burro��er nf.the mortgage insurance previously in etTert, fn�m an altematc murtgage imurer approved by L.t:ndcr. If
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<br /> # , ,,,,���„�a. Potm 3028 9�90
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