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<br /> — The Funds shnJl be held in un instttution whose deposits aro insurcd by a fed=rul•agency. instrumentulity. or entity _
<br /> �- �;�'�.� (inclading Lender.iP Lcnder is such nn instituti�n)or in any Federul Home l,aan Bank.I.cnder shull epply thc Fund.v to psay th�
<br /> �°� �scrow itcros.Lendcr may n�t charac IInrrowcr for holdin�artd applying thc Funds.nnnunlly unalyr.ing ttsc cscruw uccfltont,or �
<br /> . .�"�t�'��,'':r`��<. verifyfng the Esc`aw�tems.unless LcnAcr p:►yx 13armwor intcrc.5t on the Funds and nppli��ubie law permite L�:mfce ai n�►ke 6uch
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<br /> _�'�_ A charge. However,Lcndcr nwymq uir�Borrowcr to pay u one-time cl�u�ge fiir un indep�tdent rcul cstat4 tuz rcporting rcrviti�
<br /> usa! by i.ender jn connectian with this loan, unless applicnble luw provldes othenvise. Unles.ti an osrermcnt ia made or
<br /> appltcable law requfecs interest to be pnid.Lender shall not be required ta pay Borrawer any interest or cumi�igy on the Funds.
<br /> - ' Horcawer and I.ertder muy agree in writ�ng hawcver.thnt interest shaU bc paid an the Funds. Lcnder shall gw�to 8orrawer.
<br /> ..•"�, without charge. an nnnuut uccaunting oF the Funds. s!►owing crodlts nrtd debtt�to the Funsis nnd the purpose for whlch each
<br /> "`'"�'`':"" deblt ta the Furxl,;w:u nwde.'�'he Funds are plcdged:u additional�ecn�iry for uil sams secured by this Sec�artty lnstn�ment.
<br /> r.• � , Lender shall account to Bormwer c-
<br /> If the Fund.g held by Lender exceed the simmoun�ti permitted to be held by ap licable luw.
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<br /> a,,,,':,��•.� for the eacess Funds in nccordance with the requirementx of upplicuble luw. If t e nmount af the Funds held by l.ender ut uny
<br /> l '"���f:i,>�• time is not sufGcient tv p�y the Escrow Items when due. Lender may sa nuttfy Bomawer in wdting. und.In such cuse Borrower —_.
<br /> ;,.:a��,t'�5�� shuU pay to Lender the amuunt necesssuy to muke up the defictency. B�orrawer shull make up the deficiency in no more then
<br /> •. ,�'��';^�:: �•�or�?��:.•.��, nvelve monthly paymen4s,ut Lender's sole discretlan. --
<br /> .. 1�,t^ti...'. � .` —_-:
<br /> ��;s,,,�,;,�1.�y,::. Upon payment in tull uf all sums secured by this Security Instrument. Lender shull pramptly refund to 8onawer ns�y �_.
<br /> ;a::..;r�,4�:,.' �:" Funds held by Lcadcr. [f,under puragr.�ph 21.Lender shall acquire or�1!the Pimpeny,Lender.prior ta the acquisition or sale �_-�-•
<br /> : .;;�:+ :;�;,-b�;:::� of the Praperty. sh��ll apply uny FundR held by Lender at the time of acquisitian or sale us a credit agatnat the sums secured by
<br /> /l ,�;;f.;.:rs-..';"` �. this Security Instrument. _--=
<br /> . , ' , .. ..,� 3.Apptication oi Pu en�9. Unless appltcuble luw provjdes otherwise,all payments received by[.ender urtder partigcaphs
<br /> . '�' 1 and 2 shall b$applied: ust, to any prepayment charges due under the Nate;second.to sunounts payable under paragraph 2: _
<br /> �: _ � thitd,to intemst due:fourth.to princlpal due;and lact.to ciny Inte charges due under the Note. • �y
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<br /> 4.Chatges; Ltens. Borrower shall pay all texes.assessmenu.charges. fines and Impositions attribuutble to the Pro rty �""
<br /> •���' which may attain priariry over this Security Instrument.and leusehold paymenta or ground rents. if any. Borrower shal pay �k�t
<br /> ��. ' � these obligatIons in the manner pcoviJeQ In paru�raph 2.or if nat paid in that minner.Borrowcr shal!pay them on time diiecdy wi�•�-
<br /> . °' , to the person owed payment.Borrower shall promptly fumish to I.ender all notices of amounts to be paid umder thls parngraph. �'_��
<br /> ��� �� If Borrower makc.w these payments dIrectly.8orrower shall promptly fumish ta L.ender recejpts evidencing the payments. - -
<br /> • , . E�rrower shall prumptly dischar�e any Ilen whfch has pnoriry over this Securlty Instrument unless Barmu+er:(a)a�rees in .
<br /> • r � ' ,•;• writin�to the psyment of►he oblisat[on secured by the Ijen in a manner ucceptable ta Lender:(b)contests in good faith the lien _ _
<br /> � by, or defends a�ainst enforcement of the lien in, legal proceedings which in the LeRder's opinlon opernte to prevent the �
<br /> • • . � enforcement of the Iten;or(c)secures from the holder of the lien un agreement satisfactory to L.ender subordinatin�the lien to
<br /> '' . this Securiry Instrument. If l.ender determiaes thut any part of the Property Is subject to a Hen which may atwin prIority over •
<br /> • • this Securlty Instrument,Lender may give Horrower u notice identifying the lien. Borrower shall satisfy the lten or take one or ,
<br /> more of the actions set forth above within IO days af the giving uf notice.
<br /> ' .,�t-:.�i;�� •� S. Ha�trd or Property Instuance. Borrower shnU keep the improvemenu now existing or lnereafter ec�ected on the
<br /> � 3"" Properry insured against loss by fire,ha7ards included within the term "extended coverage"and any other hazards. tncluding .
<br /> � � '�+((irs;�i)r
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<br /> floods or flooding,for which L.ender requires insumnce.This insunince shall be maintained [n the amounu and for the pedods ',�
<br /> _ ` � ; ° that I.ender requires. Tfie insurance carrier providieb tha iasura�:c sha!!b:.chosen by Bors•o�:rr subjeci tu Lencler's appro='�! �-
<br /> . ' which shall not be unreasonubty withheld. [f Horrower fails to maintain roverase described above. Lender may, at Lender's � ;`
<br /> � • '. '?)�. opdon.obtain coverage to protect L.cnder's rights in the Property in accordance with par.�raph 7. •:=
<br /> ' •'� ;•r.� All insurance polic'ses and renewals shall be acceptablQ to Lender und shall include a standard mortgage clause. I.ender ��t
<br /> shall have the right to hold the policias t+nd renewals. If I.ender requires.Borrower shull promptly give to I.ender all receipts of �
<br /> in
<br /> � . �� paid premiums and renewal nodces.In the avent of loss.Borrower shall give prompt notice to the insurance carrier and Lender. —
<br /> L,ender may make proof of loss if not made prom�tly by Bonower.
<br /> Unless L,ender and Barrower otherwise agree in wnting,Insurance proceeds shall be applied to restorudon or repa�r of the
<br /> Property dtunuged,if the restorndan or repair is economicalty feasible und L.ender's security is not lessened. If the restoratIon or
<br />- } ;:� , repair is not economically feasible or I..ender's security would be lessened.the insucance proceeda Shall be applied to the surns
<br /> � secured by this Security Instrument.whether or not then due. with any excess paid to Botrower. If Borrower abandons the •
<br /> .� � . Property,or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim.then
<br /> '' �� L.ender may collect thc insurunce proceeds. Lender mny usc the procceds to re�air or restore the Property or to pay sums
<br /> " ' � ' � setured by this Secutity Instrument.whether oT nat then due.The 30-dny period wili begin when the notice is given.
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<br /> •� ��s,,,,.,• • Unless I.ender nnd Borrower otherwise a�rce in writin�. any application of procceds to principal shall not oxtend ar
<br /> �;Y po tpo Y P Y P 8, P S PaY
<br /> , ��� ` �S' �,.. . s ne the due date of the monthl a meats referrod to in ara ra hs 1 and 2 or chan a the amount of the ments. If
<br /> ° ° ° wtder paragrsph 2l the Property is ncqu�red by Lender,Borrower's nght to uny insurance policies and proceeds t�tilting from
<br /> . � � � damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument „
<br /> immedfately prior to the acquisition.
<br /> ;. • • 6.pccupancy,Preservation, Maintenunce and Protectiun of the II�perty;Borrower's Loan ApplicaHon;i.easeholtL4.
<br />_ ;_' .,�� � ' Borrower shall occupy,establish,und use the Property s+s Barrower's princ(pal residence within sixty days after ehe execution of
<br /> '1• �:•� this Security Instmment and shali continue to occupy the Property as Borrower's principal residence for at least one ye�ar after
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<br /> . ' •.;,,, the date of occupancy.unless l.eader othenvise ugrees in writing, �vhich consent shsill nc�t be unreasonably withheld,or unless
<br /> ^��``-'���+�' � � extenuuting circumstances exist which um beyond Borrower's control. Bonower shall not destroy, damege or impair the
<br /> � ��"����• Property.allow She Praperty to detcriornte, or commit waste on the Property. Hnrcower shall be in default if any forfeiture
<br /> �Si�` action or roceedln whether civil or criminal, is begun that in I.ender's gaod faith judgment could result in forfeiture of the
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<br /> � �� ,�.,�:..?:.;., Property or otherw�se materially impair the lien created by this Security Instrument or I.ender's security interest.Borrower may
<br /> • .. •r; cure such a default and reinstate,as provided in parngraph �8,by causing the action or proceeding to be dismissed with a ruling •,�-
<br /> that. in Lender's goad fuith determination, precludes forfelture of the Bonower's interest in the Property or other material
<br /> : � , . ; impair�nent of the lien created by this Secunty Instrument or I.ertder's secudty interest. Borrower shuli also be in defautt if
<br /> ,`� Borrower,during the loan applicution process.gave materially false or inaccurute information or statements to Lender(or faited
<br /> to provtdo L.ender with any material information)in connection with the loan evidenced by the Note.including,but not limited
<br /> to,repmsentatians concernin6$orrower's occupancy of the Property as a princ��+:!� r�idence.If this Security Insvument is on n
<br /> �' ' • leasehotd, Horrower shull comply with all the provisions af the leasc. If Borrower acquires fee title to the Property. the
<br /> ' �`' � , leasehold und the tes tiUe shaU nat mcrgc unless L.cnder agrees to the mergcr in writing. ;-�•
<br /> �� '�"��" 7.Protectfon of Lender's Rights[n the Property.If Borrower fails to perform the��ovenants and e�rcements containc�d in �<.`'•
<br /> � this Security Instnrment, or there is a legal proccedin�that may signi�CCantly affect I.ender's rights in the Property (such ac a �
<br /> proceeding in bankruptcy.probute. for cortdemnation or forfeiture or to enforce laws or mgulations),then Lender may do and
<br /> t pay for whatever is necessary to protect the vulue of the Property and Lender's right� in the Property. Lender's actions may �
<br /> " _ �___________ __— include navinu anv swns secured by a lien which has prionty over this Security Instrument, appeuring in cottn, paying �__
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<br /> �. e�easonab�e attomeys' fces tind entering on the Property to make repairs. Aithough Lender may take action under„iis par.t�raph �
<br /> '�' � 7,I.ertder doe�not have to do so. �
<br /> . Any amounts disbutsed by Lender under this paragraph 7 shall betome additionul debt of Horrower secured by this
<br /> ` Securtty instrument. Unless Borrawcr and [.ender agree to other ierms of payment, these:unounts shall bear interest from the
<br /> � ' . . date of disbursement at the Note rate and sludl be payubte, with intcrest, upon notice fram Lender to Borroaer mquesting
<br /> ' • payment. ;
<br /> � � �- , , 8.Mortgage Insurance.If Lender required mortgage insurnnce os a condition of making the loun securcd by thiti Security I
<br /> � • Instnunent. Borrower shall pay the premiums required to m�sintain the mortgagc insurance in effect. If. for uny rca�an, thc
<br /> • � ` mortgnge insurance cove�e rcquired by Lend�r lu��or ceases to be in effect. Borrower shall pay the premiums requireci ta � �
<br /> • obtuin rnvernge substantiai y equ�valent to the mnrtga�e insururtce previously in effert,at;�rost substantially�uivatent to the I�`' ..
<br /> • ' ° cost to Borrower of the mort�a�e insurance previously in effect. from an altemate mortgage insurer approvc�by LenJcr. if
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<br /> . . . vopo s oe s • . Form 3028 9190
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