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<br /> 'i'tK �und� shall bc held in an inatitudon xhoso deposits � imurcd by � federei �ge�y�irn�ru �, or akity
<br /> (i�tcludirg I.cndtr,iP[.endcr Is�urh an imdtutlnn)or in a�sy Fedcrnl }#�me 1'.oan Aank.i.cnter shatl�►ly thc.P='a��nde to�y the .
<br /> Fscro�v item.g. i.ender may�cat�hnrge Tl�rrru�vcr for hniding�ind npp1yf��the Fu�1ds,m�nu�ill,y nnn�yzf�ig thr,escmw er�.Yx!nt,nr �
<br /> �--- verifying the Burnw ltem�, unles-�l.e�xier pays Barrowar intercst cm tho Ytundw rixl a �IlcAblr IWw perrnite I.r�xler tt�nwlce nuch
<br /> a ctw��o. Hawever.[.crKicr uwyreyuiro Hurrowcr tu pay w v�ne•tlnb chu�e fi��sn i�¢prndent rcal estute trx re�rurtin�nervi� ;
<br /> usod by I.ender in c:anncctt�n wlth thix Iwn. unlrsa applicxlsl� law pmvlder athcrwise. Llnlrae kn�gra�.nt iy �de ar •
<br /> upplicablc Ipw teyuirc�ittterest M ba puW. I.ander ehat!n�t bc r�yufmi tn pay Hc�rrower any intenest or e4rnlrr a an tho�unds. ••
<br /> Bormwer aad Lender may a�rod in wdting.however.that interai�tu►ll bo p�id on tho Fuedr.l.ender shAlt a�ve w 8urrower.
<br /> — without charge,un annual arcaunting a�f 1he Funda� sha�ving cr+c+dit�and debit�to the Fuid�uui the puxp�se for which e�ch
<br /> -�—_- - -- - � dcb(t to thc i-us�dc;w;�;���:dc.Tttc FunQs ura ptcttgcd as additlanat eccurlty far all sums scsumaf 6y thls Secc�rity tnqtmm^n�.
<br /> If tho Funds hold by Lender eacced the ornourots permittal to b�hetd by�ppIicAble tuw. l,endet Rhall�coount to 8orrower ,
<br /> for the exoess Funds in acresrdarxo wtth the tcqui�rmentx oF�pp8cxble law. IP the amount of the�'un�da weld by Lender pt�ny
<br /> ��� Nmo is not sufficient ta pay the Escrow Items when duo,I.emler may so notify Iiorrowtr in writing.and,in such case 8orrower
<br /> '" shnll puy to Lender tho amwnt necessary ta tnake up the defleiency. Bocrower shatl malco up the deticiency in no mot�thau
<br /> "%• twelvo monthly pnymcnts,ut L.endcr's sole discretion.
<br /> °�z�: Upon puyment ln Poll af•all sums secured by tbis Securlty Instrument, I.ender shail pmmptly nfund to Borrower any
<br /> � Furtds held by Lender.If,wsder paragruph?.t.L.ender shull sccquire or sell the Pmpeny.Ls.nder.prlor ro the acqt�is�tion or�Is
<br /> � , of the�roperty.shall Apply any Funds held by Lender at the time of acquisition or anla as u cralit ugainat thc sums securod by
<br /> ' this Sccurlry Insuwneat.
<br /> ��' 3.Applicutfoa of Paymeats.Usniess applicabla law provides othcrwise.all puyments received by i.ender under parugrnphs
<br /> � 1 and 2 ehall be applted:first.to any prepayment charges duo under the Note;second�to umaunts payabla under purugmph 2: _
<br /> thtrd,to interest due:fouAh.w princ[p�l due;and tast,to any late charges due under tha Note.
<br /> 4.Cl�rgce;Lleus.Boaow�r shall pay all taxes,asscssments, charges.fines and imposlNons uttributable to tho Property
<br /> which may attnin priodty over this Security Insttument. aad leaschold payments or gmund tents.if any. Borrow�r shall�ay
<br /> tkese obtigations 'sn the manner prnvIded in para8raph 2.or if nut pai�l in that►uau��ee.BoP,owee sitalt pay them an timc dircctty -
<br /> �, to the person owod payment.Borrower shall promptly furnish to Lender all nndces of amouats tv be paid under this puregraph.
<br /> If Borrower ma[ces these payments directly.Borrower shall prom�tly fumish to L.ender receipts ev�dencing the payments.
<br /> Borrower shall pmmptly discharge any 1[en which has prlonty over tttls Security instnunent unless Barrower.(u)s��in
<br /> wrIting to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b)contests In goad fatth the lien
<br /> by.•or defends against enforcement of the llen ia. legal proceedings which in the Lender's opinion operate to prevent the
<br /> enfarcement of the lien; or(c)secures from the holder of the lien an agreement sausfactory to Lender subordinating the lien to
<br /> this Securlty Instrument. IF Lender detemnines that any psut of the Property is subject to a lien w�alch may attain priadty over
<br /> � ;a, this Secudty Iasuvment. Lender mayg�ve Borrower a noticc identifying the IIen.Borrower shali saasfy thc Iten or take one ar
<br /> ti��;`��X,='j:�::�`' tQOre of tde uctions s�t fotth above within 1Q days of the giving of notice.
<br /> '�''���"•�.� S. Ha�ard or Praperty Inst�re�tee. Barrower shall keep the im�rovements now e�cisdns on c�r+eafter erected on the
<br /> ., �, � ��,;',..•.�,;.; P ro p e r t y ins u r e d eg a ins t l oss by fi t�e. h a z a r d s i n c l 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 a n y o t h e r h a 7 a r�d s. i n c l u d i n g
<br /> ��r, �. flaads or ftoodIn�,for which I.ender requires insurunce. This insurance shall be malntaiaed ia the atnounts ead for the periods
<br /> .��r�s,;..-.�s�=;;�. ` that i..ender requa�es. 7i�a insurance razner pmvidins the insucanw shali be c3io�cn by Sumuwc� su�,j�i to Letider's�pptot-a! •
<br /> :����;• :^ �"�':• � which shall not be unreASOnably withheld. If Borrower f�ils to maintt�in coverase described above, Lender may, at Lendar's
<br /> � ��`��.,;%:`h��.; '� `�� opdan.obtain rnverage to pmtect I.ender's rishts in the Property in accotdence with paragraph 7.
<br /> •��;:.�;��.��•.��;;�.:�•��r�: All fnsurance policies anc! renewa}a shaU be accep4Able ro I.ender and shall include a stenderd martgage clause. L.ender
<br /> .�;;,4:�a;���•;_, �� •� shali have the right to hold the policies and renewals. If Lender requires,Borrower shull pmmptly give ro Lender all reoeipts of �:_
<br /> ?��r• �?��?,.;• `: paid premiums and c�enewal noti�.Tn the event of loss,Bonower shall give prompt notice to the insurance cazrier and Ixnder.
<br /> :?•;��.�-:,frT: . � • i.ender may make proof of loss if not mad�pramptly by Borrower.
<br /> r�••�••-,�.� ' Unless I.cnder and Borrower otherwise agree in wdttng.insurance prooeecls shall be applie�to nestoraflon or repair of the
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<br />_• ,K,�,.3,,;: .: ' ;. Pmperty damaged,if the restoration or repalr is economicatly feasible and L.ender's securlry is not lessened.If the restoradon or �r,
<br /> ,�.fy,:,.,�4:,_..;..,+•,.� re�►nir is not eoonomically feasibla or Lender's serurlty would be lessened, tho insurance proce�ds shaU be applied to the sums �;:;_.
<br /> ;.,k.•,- ,,., .... .,;.,. sasurcd by thls Security Insuument. whether or not then due, with any excess paid to Borrower. If Borrower abandons the ��•.
<br /> � Property.or doe5 not answer widiln 30 days a notice from Lertder that the insurnnce carrier has offered to settle a claim.then �r��_
<br /> '• ,�r�� .����� � �=d Lender may oollect the insurar►ce prooeeds. Lender may use the pmcce�s ro repsir or restore the Property or to pay sums �_,
<br /> ''�'' """'`"`� ��' '" ':.' secured by this Security Inshvment,whether or not thea due.The 30-day period will begin when the nodce!s stven. �_�. _
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<br /> . :,,.�„`:,.:,:. . , .�..� iJnless Leader and Borrower otherwise agree in wdting. nny ApplicatIon of proceeds to principal shail not extend or �` -
<br /> �;:�w,,. ' ,��.,�,,., postpone the due date of ihe monthly payments referced to in paragraphs I and 2 or change the a�raount of the payments. tf �;`_'-
<br /> under parasraph 21 the Pmperty is acqui�+ed by Lender,Borrower's risht to any insurance policies and proceecls resulting from �'>:-
<br /> - ' � damage to the Propercy prior to the acquisitIon shall pass to I.ender to the extent of the sums secured by this Socurity Instrument ;;�
<br /> '''"` immediatel norto the uisition. '3�
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<br /> partcy,PreservaUon.Maie�t�n�nce and Protection of the Property;Borrower's Loan ApplicaUon;I.easeholds. .;'f'•
<br /> _ , Borrower sbttll axupy,establish,and use the Propecty as Borrower's principul cesidence within sixty days aRer the execution of ===
<br /> this Secudty Instrurnent and shall mntinue to occupy the Property as Borrower's principal residence for at least one year ufter �=
<br /> ,��� -. ' the date of occu an
<br /> � p cy,unless L.ender otherwis�agrees in writing,which consent shall not be unmasonably withheld. or unless ��'`�
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<br /> ,• ,�"'" ���� extenuating circumstaaces exist which are beyond Borrower's rnrnrol. Bomower shall not destroy, damage or impair the ,
<br /> �,�' t Property, allow the Property to deteriorate,or rnmmit waste on the Property. Borrower shall be in default tf any forfeiture
<br /> � , action or prooeeding.whether civIl or criminal.is begun that in Lend�er's good faith judgment could result in forfeitum of the
<br /> � Property or otherwise mater�ally jmpair the lien created by this Security Instrument or Lendcr's scxurity interest.Borrower muy •
<br /> ��'"�, �t � " � cure such u default and reinstate.as provided in paragrnph 18.by cuusing the actian or proceedin�to be dismissed with a ruling ""'�
<br /> st�r,:. •.
<br /> "•��.� ` that, in I.ender's good foi�h determination. precludes forfeitum of the Borrower's interest in the Property or other matodal ��;'
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<br /> : • �,;+��'" impuimtent of the lien cmated by this Security Instrument or Lender's secudty interest. Borrower shall also ba in default if .�.`.,
<br /> "�� Borrower.durins the loan applicatian pracess,gave materially false or inaccumte information or statements to L.ender(or failed
<br />- ' to provIde Lender with any material information)in connection with the loan evidenced by the Note, inctudin�.but not limjted
<br />- • :. ,, to.representiutons mncem�ng l�orcower's occupancy of the Property as a principal residence. If this Securiry Instcument is on a
<br /> �'�•' ' leasehold. Borrower shall com�ly with all the provisions of the lease. If Borrow�er acquins fce tide to the Properry, the
<br /> �'" '� ` lea5ehold und the fee title shnll not merge unless[.ender agreNS to the merger in writi�g.
<br /> '"'��' � 7.Protectfon ot Lender's Rights in the Property. If Borrower fails to perfonn the covenants ertd agrrements containvd in
<br /> , .{ this Secur�ry Insttument.or there is a legal pruceeding thnt may sigr►ificantly affect I.ender's ri�hts in the Property(such as a
<br /> proceeding in bankruptcy,probate,for condemnation or forfeitum or¢o enforce lows or regulaccans), then Lender may do and
<br /> s� pay for whatever is nocessary to pmtect the va(ue of the Properry and Lender's rights in the P�operty. Lender's uctions may
<br /> � � __ Include eavinu anv sums securod bv u lien which hus prioriri over this Security Instn►ment, appearing in court. payin�
<br /> �;� ��, reasunable attomeys'fees and entering on the Ptnperty to make repairs.Although I.ender may take action under this parugraph � ; "
<br /> 7,Lender does nut huve to do so. (�.
<br /> • Any cunounts disbursed by Lender under this parugraph 7 shall become additionul debt of Borrower secured by this �
<br /> Seruri lnstn�neent. Unless Borrower und lxnder agree to other terms of payment, these amounts shall bear interest fmm the
<br /> ;, " date o�disbursement ut the Note rate und shall be payable. with interest, upon notice from Lender to Borrower rc�questin� ;
<br /> �� payment. �
<br /> ' 8.Mortgage Insuranee.If l.ender required mortg�e insurance as a coixiition of ms{king the lo�secured by this 5erurity i
<br /> _ ., Insm�ment. Borrower shall pay the piemiums requimd tn maintain the mortguge insurance in effect. If. for uny masan, the •
<br /> ,I :° . , � mortgnge insur�uice covero�ge required by Lender lapses or ceases to be in effect, Borrower shail pay the premiums mquired to i
<br /> ;� - „ .� obinin covernge substantially equivnlent to the mortgage insurnnce previousiy in effect,at a crost substantinl{y equivulent ta the ,
<br /> :� ,.,� rnst to Borro�ver of the mongugc insurance previously in etTect.from un altemate mortga�e insurer approved by Lender. If
<br /> w.�,� •,N�,-,�{'.
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<br /> „ ' . � Papo s ot a� Fotm 30Z8 9190 �
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