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<br /> ,.Ttpe F'unde ah�l! be h�eld in �n insuitutian wF�d�po�its m i►rured by • fedenl �es�.'y, inpwnaahtity, a' �
<br /> - �_a..m�� (iixludiny F.e�nl'r.r,if j.r�xfer is su�h an lnsl(tutic�n)Ar in any Ne�e,rxl Ilr►rrw�Lown&�rck.Lender�i�l"!eQply+Ih��undu w{x�Y the
<br /> --- Encmw 1tem�.I,tnder mry not..chrrge kbrrower 6ar teotciinR atd r�rplyin�tiie ktunc��wu�urlly u�r�iyr�cy�ll�ra�n�w�cu�wt.ur ':.
<br /> vatdfybng 1lte�.+Crow Itemr, wilatn Landa'pNYi W►rc°v�a intcreat an ttla t'u►xir uni�ppIirulsfG I��r permits�.ender tu jrsrts nc�U
<br /> �ch�r�e.�bwever, l.e�der cn�ty rogaire 8arbnwer w p�y�t qnatime�*Em fiu�n Dodap�ndaw raal a�we wi npoitii+��ioe ,
<br /> us�l�by�l,a�de�-in c''om►actSan witn it�ip loen. unl�z+s app�ic�la I�w prnvidee otFiervvi�u.'Unk++ �n�roanen� 1a m�,a �
<br /> �pplic+�bioatw roryuias inter�est w be pY�Ed.i.�ander rhall twt be requirod to p�Y Borcawror+�Y i�torat or���� '�nn tha Fund�.
<br /> 8ormwer arxi I.,ender i►►�y..agron in writin�. bowew+ar.th�t intaest�M►�la ba P�d oR tlie t'u^d�.i.�d��"s'�tO��'0�,
<br /> �-- -- - wtt�j.cw► cl►a:ge. au usu�aal:«:touttting of th-Ftxd.^.. °hoH+In�r,mllt� rn�i dehitR u�the Funds arYl the purpoa�e fOt w�tic�t c� __•-
<br /> , debit to tUc FutMs waa m�dt.The Futwls rre pled�ed iu�dditrond aecurlty tor�1!sums sECUCad by thia Secur3ty iwftruu�ent.
<br /> If tha Funds hsld by L.ender exceai the xux�unta p�rmltted to be held byapplicabk hw.'l.ersder�iylt�aoo�nt w Borrpvae*
<br /> for the aacess Funds in accardance with the ncyuiromeMS of applicabie Isw.If the amount of the F'wds held by C.ender a aqy
<br /> - time i�rwt sufficient to pay the Fscrow Iurr�a when due.L,er+citr tnay�c►rwtify�onrower in wdUng,uxl,in such c�,+e borrowu
<br /> _ shxll pay to Lender the amaunt necessary to nlalce up the det'iciency. Horrower ehall malce up tb�e deflciency in no more th�n •
<br /> twefvc monthly p�yments,ac Jxnder's sole discc�edon.
<br /> ��a-°--�°° 1Jpon paymeut in full af ai! sua�securcd by thiR Sa�udty InstNn�ent. Lender shall promptly afund to Banqwor any
<br /> Funds held by Lender.If.underp�t�graph 21,Lender shuli acquire or sell the Propetty. Lcnder,pdor to it�o acx�isttion.oe sate
<br /> of tho Propc�ty.shall opplg uny Fnt�ds lield by Lender at We tim�e of ucqulsidon or sale us a crodit against the aums sa�ured C�y
<br />.►,_ this Security Ins�rument.
<br /> �" 3. A�i�ptio�n ot P�yments.Unle�ss applIcabla law pmvides othetwise.all payments rerceivod by Le�der vadsr pacagrapf►s
<br />--_ 1 and 2 shall be npplied: ficst,to any prepayment charges dua under the Nate: second,ta ettsounts pxyable under paragraph Z:
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<br /> � third.ta�intarest due;fourth.to principul due;and last,w any late charges due under the Note.
<br /> ;:.• 4. Chrrges;Lk�. Borrower shal!pay sil taxes.essessments.charges.fines and imposItions amibuutblu to the ropei'ry
<br /> ` — _ whlch may cRtain pri�sx{ty ove�tttis Se�.�ur[ty Insuumcnt. uad leas�hald gayments or ground rants,if any. Bornower shall p�y
<br />_ these oblig�tions�n the manner pravided in pacagraph 2.or if not paid tn that manner,Borrower shelt pay them on,time dir�ectly
<br /> " ro the person awed pay�►nent•Borrower ahall prampuy�sh to L.ender all notIas of arnounts to be patd under this paragrapt�.
<br /> If Borrower makes these Qayments dlrectly.Borrawer shall pro�nptly fumish to Lender receipts evidencIng the payments.
<br /> �n
<br /> Borrower shall pmmptly discharge any lien whlch has priorlty over tlils Se�cudty Inswment unless Borrower. (a)agr�es in
<br /> writing w tbe payment of the obligadon secured by the IIen in n manner acceptab(cs co Lender.(b)contests in gaod faith the lien
<br /> by, or defends agninst enforcement af the lien ia, le�ul pruceedings which in the Ixnder's opfrdon operate to prevent tho
<br /> �� enfotrement of the lien;or(c)secur�fmm tha holder of the Ilen an agreement satisfactory to Lender subordinatf�g tha lien to
<br /> this Socurity Instrucnsnt. If Lettdc�determines that any pact of tlie Praperty is subj eet t�a lien which may attain pdacity over
<br /> this Secudty Instrument, Lender may give Borrower a rtotice idenufying the lien. Borrower shall satisfy the IIen or take anc or
<br /> more of the actions set forth above withia 10 daya of the giving of aotice. .
<br /> 3. H�flrd or Pruperiy Insw'avice• Borrower shatl kcep the impmvements now existing or hemafter erectcd on the
<br /> , haz�srds included within the term"extended coverage° and aay other hsizards, including :
<br /> Property insu�d ag�ngt loss by Rre.
<br /> _ - ' tiooda ar ffoodmg.for wiuc&Lcint��equtres i�u~��s�rc. Thi�iss°.utance sl�s41 be mAtneained in the amounts and fur ttte i�eriod� ,- •-
<br /> that I.ender mquires. 'It►e insurance c�rrier pmvIding the inswance shaU be chosen hy Bo.rldwer subJect to Lender's approval • .
<br /> „ whic6 shell not be uaxr�asonablY withheld. If Horrower fa�ls to maintatn coverage desc�ibed above. I.ender nuty.at I.eader's •
<br /> optlon, obtain coverage to protect[.ettder's rights in the Property in accordauoe with paragraph 7.
<br /> AU tnsurance policies and renewals ahall 6e acceptable to I.ender and shall include a standard mortgage clause. I.ender
<br /> ,'° shall have the dght to hold tkepoliaes and renewals.If I.ertder requires, Borrower shal!prompdy give tu I.ender all receipta of
<br />_ paid premiums und renewal nodces.In che event of loss,Borrower shall give prompt swtice tA the insurance carrler and Lcnder.
<br /> ` l.ender may mafce prnof of loss if nat made promptly by Borrower. •
<br /> • - Unless I.ender and Borrower otherwise agree tn wrlting.insurance procceds shall be applied to restoration or repajr of the
<br /> _ •t�� � •���-=• Property damaged,if the reswration or repair is economicAlly feasible and I,ender's securIry is not lessened.If the restor�don or
<br /> repair is not economicaily feastble or Lender's security would be lessened.the insurance proceecis shall be applied to the sums
<br /> secureci by this Securiry Insmiment. whether or not then due. with any eacess paid to Borrower. If Borrower abandons the
<br />�;��, Property,or does not answer wlthin 30 days a notice from Lender that the insurance carder has offered co senle a claim,then
<br /> I,ender may wliect the insurnnce proceeds. Lender may use che proceeds ta re�air or restore the i�roperty or to pay sums _
<br /> • • secured by this Securdty instrument,whether or not then due.11ie 30-day penod w�ll be�in when the notice ia given..
<br /> � ` =' •�� Unless Lertder and Borrower otherwlse agree in writing. any appiicatlon of proceEds to principal shall not extend or __
<br /> '� •;,.�r;; '�, postpone the due dato of the monthly payments referred to in parngruphs i a�id 2 or cbange the amount of the paymeats. If ^ _
<br /> ; .:�';-..,+�-ti�.;.;. under paragrept�21 the ProPertY j9 accluired by Lender,Borrower's right to any insurancc policies and proceeds c�esulting from ^"
<br /> '1ti''°`"?�% 't damege to the Property pcior to the acquisItion shall puss to L.ender to the extent of the sums secured by this Scxurity Instrument -
<br /> •• ,.�..,:.�J:.I:.�. .. E',-�--
<br /> ,.� .x:..:: ::._,,. lmmediately prior�o the acqu�sldon. -_
<br /> �-. ••� ' '� 6. Oahtpancy,Preservation,Maintenance and Protectton ot the Property; Borrnwer's Loan Appflcatton;Leasettalds.
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<br /> +-.. gorrov�re�shall occupy,establish,and use the Property as Borrowei s principal res►dence with{n sixry duys nfter the execution of __
<br /> _.��� - • this Securlty Instnuttent en d s h a l l continue to oceupy t h e P r o p e rt y a s B o r r ower's princi pal restdence for At least one year sifter
<br /> � the date of occupancy,unless Lender otherwise agrces tn writin�.which consent shall not be unreasonnbly withheld.or untess
<br /> , � extenuating clrcumstances exist which are beyond Bon+ower's rnntrol. Borrower shall not desuoy, ds�ma�e or impair the .
<br /> ,,i ,. property, allow the Property to deteriorate,or cummit wnste an the Property. Borrowec sh�ll be in default if any forfeiture
<br /> ' .,1'v• . actlon ar proce2ding.whether civil or criminal.is begun that in Lender's good faith judgment cauid result in forfetture of the �
<br /> ' �� 'J" �=-• Property or otherwise materially impair the Ifen created by this Security Instnunent or I.endQr's security interest.Borrower may
<br /> � �:a!S!�.��t:. ;_r:' - .
<br /> cure such a defuult and reinstate.as provided in paragraph 18,by causing the action or proceeding to be dismissed with a culing
<br /> •��. � .�� � ., • that,in Ixnder's good faith determinadon, precludes forfeiture of the Borrower's interest in the Propeny or other material
<br /> ' • impaircc�ent of the lien creuted by this Secudty Insuument or Lender's security interest. Borrower shall ulso be in default if .
<br /> � � Botrower,dudng the loan application process. gave materially false or inaccurate informauon or stntements to Lender(or failed
<br /> . to provide I.ender with+�ny material inform;uion)in connection with the loan evIdenced by the Note. including,but nut limited
<br /> ' to,representations oo�em�ng Borrower's occupancy of the Property os a principal residence.If this 5erurity Instn►ment is on a
<br /> leasehold. Horrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the
<br /> ' leasehold anct tha fee title aha11 not merge unless Lender agrees to the merget in writing.
<br /> � � 7.Peoledjon of I.ertder's iitghts in the Property If Borrower fails to perform the covenants and agreements oontained tn
<br /> ;�, _ this Security Instrument, or there is a tegal proce�Jing that may significantly affect Lender's rights in the Properry (such as a
<br /> proceeding in bankruptcy."probate,for condemnntion or forfeiture or to enforce laws or regulutions),then Lender may do and
<br /> �� �__—_——__ nsiv for whntever is necessacy to protect the value of the Properry and I.ender's rights in the Property. I.ender's actions may
<br /> . n--"_... r..�.«.�..� e....vo n in �nurt navieo
<br /> � 4; 1RC1Ud0 paying any SU1115 5CCUTCd t1y 8 IICII wttiCn nas prioncy UvC7 iitt� uc�wa�� um«�........ .y.p...:'..^.a ... ____.. �_�...o -_
<br /> �:F�; ' reasonable attorneys'fees and entering on the Properry to make repuirs. Althaugh Lender may ts�ke action under this puragraph
<br /> _ � � ., 7,I.ertder d�es not have to do so.
<br /> � Any amounts disbursed by Lender under this parugcaph 7 shall become udditional debt of Borrower secured by this
<br /> Secudty Insuument. Unless Horrower nnd I.ender agree to ather terms of payment,these amounts shsll Mear intercst from the
<br /> � . date of disbursement nt the Note rate and shull be puyuble, with tnterest, upon notice from Lender to Borrower requesting
<br /> ment.
<br /> 5� ' ' �Y 8.Mortg�ge Irtiateanse.If Lender required mongage insurance as u condttion of making the loun secured by this Securiry
<br /> Instrument. Borrower shnil pay the premmms required ro muintain the mortgage insurance m effect. [f, for any ma.wn, the i
<br /> i� " � mongoge insprance coverage required by Lender lapses or ceases to be in effect. Borrower shall pay thc premiums re�uired to
<br /> � .:°��� obtain coverage substnndaliy equivalent to the mortgnge insurnnce prc�iously in effect.at u mst substantially equivulent to the
<br /> � �'� "'��•� cost to Bnrrower of the martgage insur�►nce prevtously �n effect, from an ultemate mortguge insurer appraval by Lcnder. (f
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<br /> ' ,iiA`l v y..,•:. '��-
<br /> , . . vapo�ot s Form 3028 9/90
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