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<br /> -- - Thc Funds ehall be held in an instituti�n wh�sa drpositx uro inrcurcd hy u fcderul a�ency. instrument�utry, or-eriiiry -.-_ - - --
<br /> r (including I.cn�hr,if l.cndcr ix�;uch xn InsNtutir,n)nr in any i�cticral Honk laun I3�nic.l.e�xlrr Khal!app{y th��uida tc�•pay tht
<br /> �" ... , I?scree�v It�mv. 1.endcr may n�►f ciiargc H�nrnwcr liu hnldi�i�nixl nprlyin�thc Pur�ix,uninwliy nnnlyiing thu isc��ow acc�+ui�1,ur --
<br /> vcril'yl�tg ti�Hsccmv[tcu►r, unlc9v I.cixt�r p;iyi+13urrmvcr iutcicti�nn the�rui►dy wtil up�flll'�l{lI0 IIICY�➢i`CQiIl4 I.L'1ILIL'Y IU lil:i�;c��n+.di
<br /> - - u ch�s�Kc. lits�evct. l.cndcr m:iy rc�ulrc lA�rn�wcr t�r pay n�:uc•tin►c�ctu�rgc fi�r us�In�c�xi�l�nt��cal c+tutc tnx��ctxndng ticrvlrc
<br /> u�t by 4.cn�tr In cumkction wit� thl�► bun. unlcry uppHcu6lc low nt�►vldev utherwl!w. U�dcss nn ugtecuunt 1� uisMJv i,r
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<br /> o�pli�abic law rcquirc�intercst to ho p:�ict,l.eixler Khull nc�t ho re�uire�!tc�puy Hnr�uwcr uny Itneeea!ur cwr�eir w un Itw iiundy.
<br /> _ — ---= B�rruN•e�xn�t l�c��drr nsay agrec in wrtaing,h�►wevcr,thut intcm�t r+lwll t�o paiQ an Ilto I�u�r�ty, l�c:�klcr r�I�HiI g�w�to ticrr�+w•ar.
<br /> -- withc�ut chur c. nn unmiui uccv�unN�� c�t'tho Fu�xly. ehnwing rndit�wxi dchi�a to thc E�atr�i�n»d tlt�pur�u�o Pi�r whit�l�a�A
<br />- - �t:,bit to th��uml�w��v m�Nir.Tho Fwxis oro plcil}tcd us udd�;iunul s�cudty far nll nums hccur�d hy thia Sccurlly I��siru»xnl. ,
<br /> ,:;—' tP tho Fumis held by l.ender execcci tho amnunt�permitted!n be held by epp�icahl8 law.LcndcT shnti arcaunt tu Nur�r►we, _
<br /> +r far the ex�ss Fund� in accardunre wiN the rer�uirements of applicablo law, lf thc unx�unt af the l�und�t�ld by t.ender at any
<br /> time is not sufQcient to pay tho Escrow Items when d�e.Lertder muy sp rtatify Bnrcawer in writing.and.ln such casu Borrawer
<br /> shall pay to I.endcr the umount necessary ro mako up tho deficirncy. Be�rmwcr shull makc up thc deficienL•y in na ntore than
<br /> twelve monthly paymentR,at Lender's salo discretian.
<br /> _ Upan payment in full af all suma r�ecured by thia Security Insteument. I.ender shall pmmpUy refund to Borrower any
<br /> =1',�� Furtda�held by I.ender.If.under parugmph 21. l.ender shull u�ul�+c ar sell the Prdperty.Lender.�rIar to the acquisition or sale �
<br /> 1`ir af the PropertY.shaU apply any Funda held by Lender at the time of ucquisition or ss�ie as a cradit against the sums serural6y
<br /> � thts Security Instrument.
<br /> 3.ApplicuHon ot Payments.Unl�s applicable law provtdes othorwlse.up payments receivcd by I.ender under pnmgtmphs
<br /> ' ;':�� 1 and 2 shall bc npplie�:tirst.to any prepayment charges dua under the Note;second.to arnounts payuble undcr puragcaph 2;
<br /> third.to interest due:fourth.to pdncipal due;and lust.to any lut�churges due under the Note.
<br /> q�Cha�ges;l,tens.Horrawer shall pay all taxes.assessmenta. charges. Snes and impositions uttributable to the Pmperty
<br /> �� ��'; ' which m:+y attain pnority over this Secudty Instcument. and leasehold puyments or ground rents. if any. Borrower s,iall pay
<br /> • .���;�«�� th�se ubiigations in the manaer provl�in paragraPh 2.or if nat paid in that manner.Borrawet shaEl pcly them on time directly
<br /> � , � • ••:�1r,�.� ao cpna pac5an owed yazeut.Borrower shall promptly fumish to L.ender all nodces of amoum.0¢a tfle�id umaer this puras�raph. ,�
<br /> �a;.t�:_,;" , `,� IIf�merow��4ces�ESZ payrn�atts diarac¢ly.Borro��er sltall grom�sly furnish to I.ender recei�u a.wid¢ncmg th2 paymeae¢s.
<br /> � �rro�Yer shaf�promp�ly disthar�e�ny l�en wpnEcQ►has Qnanty over this Secudty InstiuQnr,a��a��eless Borrower:(aD a��xs in .-
<br /> '`r� avriting t�th2�aymsne�ef t9�c obligad�n s2�vn�by eht laen�n�mz�rnr acce�table to Len�eu;(�t)contests an goad faith t4cE lien �'?�•�
<br /> `'+''�`" ``.���i`�� F� , or defends aga�mst�enforcement of the lien in. leg�l praoe�dings whicri in the Ixnder's opinion oy���'sie to prcvent the _
<br /> ` �-`��;���, � .� . . ;Ih•,f.� .
<br /> ��;�,�rlJ:�:; v�- enforcement of the i8e�a:ar(c)ser�res from tCae ha'rd�.r�f tfi�foen an usreecment satisfactory to Lender su6�.i:��nating the lien to nl,.�•.
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<br /> � ���� , �=., ahis Sfc�n�sy Instrura�enr.if Ixnder detem�ines that any pa�t o8•eh:Property is subject to a lien which mny attain pdo ty over
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<br /> .•,k�;�+Sc .�,,},,�,;;,1:�,'.. this S�vur,i�y Instnuneat.Lender may give Borrotver u notioo i�1,.nta:�ying the Iten. Borraver shell sadsfy the lien or take one or ��(_
<br /> =•� ; ti':�;;��:rt,• ' more aF�..�"�e zctions set forth above�vi4hin 10 days of the giving o�'nodce. �??'�:
<br /> ''',�;:.?,�,;��„����, •. g� g�y�trd Qr � Iasurance. Bormwer shall keep ct►e improvements now existin� ar hemafter erecced on the i;;��
<br /> ;?� ':`'� '�'�'' property Insured agaiQ►s's pss by fire. bazards inrDu�gd within the term "extended coverage"and any other hazards, including �"'.41
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<br /> (ts " `:�t�'� f(pqda or flaoding. for u:�ich I..ertder mquires insUrmce. This insurance shell be maintained tn the amou��and for the pedods �f';,'
<br /> .1.-'_,. �5 L%1: �f�d�l,_ .
<br /> t�{'7`�`1 fff`;,;J,`#i �.` tbnt I�i�r rcyuires. {:�:3r,�::�;�;..�x:iet Y:�e����:��th�Is�a.�P chalt he cho�en by Borsawer subi2cv 2a Lender's aDD�v++� ,.,
<br /> .• .� �N�}�)`r��.h,},;,� • which s4�alQ nat be unr�asonab��r�x�t�h'h�;J.Ig Ba:Lawer fails a�ro snaintain covem�e dr��rd��d a'�ove, l.entlec may.an 3.�nder's rr;;,�.
<br /> •�;.;;;5;�;�`�tk;h:;,;;�`',�; uption�o�tain coverage to prote�U.�m:�v's rigC�ly a�a 4he 9ropes�y i�o accordence u�sCe,�ae��*u�h?. �`,%,��
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<br /> • .,,`�',.{'.�i•fs,;;;F;a`•,,.? All Insurance �f�s�es and renewals shaIlU bt�a�eptable¢�l.emler and sha9Il inzlu�e a standard ae�ar��Age clause. I.ender �;,
<br /> '�:r;,.,•,;• ,. ' shall have the dght co hold the polictes and mrestiva➢s.Ilf Lender requires,Borroaer sP�a17 promptly give tm iLeRdcr ali roceipis of ..,.;
<br /> '•!�" ' paid premtums aud nenewut notices.In the event of lass.Bnrrower shall give prampt notice to the iasurance carrier and Lender.
<br /> � �-.,. • . I,ender mny make Proof of loss if not made prnmpNy.by Bormwcr. :�;�
<br /> � � Uriless Lender and Borrower otherwise agree�n wrfttng, insurunce p[oceeds shall be applied w�tisstoration or repair of the F�;
<br /> -�t. """ ' ' property damaged.if the restorntion or repair is economically feasibie and Lender's security is not lessened.If the restoratlon or
<br /> "''' � � � repair is not economlcully feasible or Lender's securiry would bo tessened,the insurance praceeds shall be applied to the sums
<br /> ��,• `�`,y�'�;. . � ' secured by this Scxuriry Instrument, whether ar not then due. with any excess paid to Borrawer. If Borrower nbandons the
<br /> =�+ „ � : � property.or does not answer within 30 duyc a notice fram Lender that the insurance carrier has offered to settle a claim.then
<br /> e � ����_ • Lender muy collect the insuraceoe prcrcceds. Lender muy use the proceeds to rePair or restore the Property or to pay sums
<br /> - ' �'�A'•"` � socumd by this Security Instrument,whether or not then due.The 30�duy period w�ll begin when the notice is�iven.
<br /> �'��i����:,': ., licatton of rnceeds to rinci al shall not extend ur
<br /> .;,,�,,.,,.__ Unless I.ender and Borrower othenvise agree in writin�, uny upp p P P
<br /> _ ,,,�.,�.,,. ,�.� ., .� postpone the due date of the mondily payments referred to in paragruphs I and 2 or change the amount of the paymenu. If
<br /> ., under paragraph 21 the Property is ncquired by Lender, Borrower's nght to any insuranoe policies and proceads resulting from
<br /> . damage to the Property Prior to the ncquisition shall pass to Lender to the extent of the sums secured by this Securiry Instn►ment
<br /> '" :;t•�.'" " immediately prlor to the aoquisidon.
<br /> � 6,pop�p�y,PrescrvatIon,bsaintenance and Protedton of the Property:Bormwer's Loan Applicutton;Leaseholds.
<br /> „ � - . . Borrower shWl oocupy.esutblish,and use the Property as Bomower's principal residence within sixty days after the execution of
<br /> �.� this Securlty Insuurnent and shall continue to oocupy the Propeny as Borrower's principal residence for at least one year ufter
<br /> ``�� ' .�,.;,_ .. the date of occupancy.unless L.ender otherwise agrees in writing, whinc�onsent shall not be unreasonubly withheld.or unless
<br /> �:,}�� . eatenuuting circumstnnces exist which are beyond Borrower's control. Borrower shali not destroy. damage or impair thc
<br /> ` � �•"'' property, allow the P►uperty to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture
<br /> � .Y'° ^ � actton or prooeeding,whether civil or criminal.is be�un tMat in Lender's�ood faith judgment rnuld result in farfeiture of the
<br /> � �� ,�: propetty or otherwise materially impair the lien created by this Securiry Instrument or LendPr's securiry interest. Borrower may
<br /> �� • ` cune such n default and reinstute.as provided in par.+graph 18, by causing the action or prooeeding to be dismissed with a ruling
<br /> thnt. in Lender s good fctith determination, precludes forfeiture of the Borrower's interest in the Property or other materiul
<br /> • �� , • impaimtertt of the Iten created by this Securiry Insnvment or I.ender's svcurity interest. Borrower shaU also be in default if
<br /> t garro�ver.during the loan aPP�ic:uion process.gave materially false or inaccutate infarmation or statements to Lender(or failed
<br /> • to provide l.ender�vith any material information)in connection w[th the loan evidcnced by the Note, including,but not limited
<br /> _ . to,tepresenm.tions rnncemins Borrower's occupancy of the Proptcty as a principal residertce. If this Security Instrument is on a
<br /> - Ieaseltold. Borrower shail rnmply with all the provisiuns of the lease. If Borrower acquircs fee title to thc P�+opercy, the
<br /> •�.�' • • tcasehold and the fi�e tide shall not merge unless Lender agrees to the merser in wriung.
<br /> - 7.p�+utectba ot 4ender's Rights in the Pi+operty.If Borrowcr fails to perform the oovenants and ag�ements containad in
<br /> � � this Sec►uiry Instniment,or there is a legal procer�din�that may significantly affect Lender s rights in the Property l�uch as a
<br /> � ` pnx�eeding in banlwptcY.Probate, for candemnation or fadeiture or to enforce laws or c�gulatinns),then i,ertder may do and
<br /> �.' pay Cor whatever is necessury to protect the v�lue of the Property und Lender's rights in the Property. L en d er's acuons may
<br /> ' include paying any sums secuied by a lien which has prioriry over this Security Instrument, appeanng in court, payin�
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<br /> _ re;isonable oKomeys'tees 3ttti entering on�e'rrvp�riy iv���,i.c�����.n�u�vii���u.au.. .:mj......,o............... .....:r.�.�a..�... !
<br /> - 7,I.ender does not hovc to do so.
<br /> Any arnounu disbursed by L,ender under this paragraph 7 shall bewme additional debt of Borro�ver secur+ed by this ►
<br /> - . Security Instrwnent. Unless Bom�wer and Lecider agcee to ather eem�s of payment, these amounts shall be:u interest from the '
<br /> date of'dlsbnrsement at the Note rste actd shall be payable, with interest, upon notice from Lender to Borro�rer requesting j
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<br /> � ��8.(1tortgage[astu�nce•�f Lender required mortgage insumnce as a cortdition of making the loan securad by this S��urity ;
<br /> �� �nmuittent�Eomawer shall pay the premiums required to maintain the mortgage insurartce in effect. If, for:u�y re.awn, the �
<br /> ,� . rtwrtgage inturnnce cnYem&c mquired by Lender I�ses or ceases to br in effect.Bt�rruwer shail pay the pmmiums rcquin�ci to E
<br /> j, oQtain rnvera�e substantialiy equiv;ilent to the mong�,re inwrance previuu�ly iu effc�:t.at a��st substantia!!y rquiti•:�ent to the �
<br /> - •• - -4 eost to Bortoues of thc ntangagc insusarttc pre�iously in effect, from an alternate mortgage insurer�pprured by Lqnde�. If ;
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