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<br /> '1'he Punds shall be held in an institutton�rhose deRas�t� aro insured by a fcdcral aplEhcy� nsttumen�y. ur tntity
<br /> (includi�ig I.endcr.if Lendcr is such nn instituRion)or in uny FedcrAl Homc l.oan Bnnk.I.endcr s1�u11 opply tt►e Fuixls tu�ay�he
<br /> Escrow Itcmw. I.endcr mAy not churgo Borrowcr for holdi�ig anJ npplyjng thc Fu�ids,annually unalyziug�hc:cscx'aw nca�unt,ur
<br /> verifying the Escr�w Ttems.unless l.endcr pays Rorrawer intcrest an the Fund.v nnd appllcablc!nw�etmiw 1..endcrt�� m�kc sush
<br /> c�charga.�iowever.Lender mdy requlre Bormwer to pny a une-tlme charge for en indepcndent real estatt tax rCporting se�vi��e
<br /> used by I.�encler in conner.tion wttlt.this laan. unless applizable Iaw providc.9 otherwiise. Unless an ogreement js ma�k or
<br /> applicablc luw reyuires interest ta ba puid.Lender shall not 6e srquired to pay Wrro��er uny intcrest o��carning�un thc Funds.
<br /> Bonower and Lcnder may ngrce in writtng,�howaver.that interest ahall be paid on the Funds. i.ender ehall�ive to Bonower�
<br /> �vithout rharge,an annual uF:cnunting c►f the Funds. showing credits and debita to the Funds nnd the purpose for whirh each
<br /> debit to the Funds was made.Tt�Fuads ate pledged as addiUonal s�ccu�rity far ait sums uxured by this Saurity Lfistf�rr�ent•
<br /> If the Funde hel@ by Lender exceed the amounts permltted to be held by applicabla law.Lender glwll account to Bor[owee
<br /> for the excess Funds in accardance�vlth therequirementa of upplicable luw. If the amount of tho FandshGld by Lender ut any
<br /> time is hot FufHctent to pay the Escmw Itams when due.L.ender muy Fo notify Bosrower in wdting.w�d,in such caso Borrowtr
<br /> shnll puy to C.ender the amount rtecesstuyr to cnuka up ehe deflciency. liorcower shuli muke up the defldency in no moro thsu�
<br /> twelvc mamhiy payments.ai Lender's sole discredan.
<br /> Upon puyment in full of all sums secuc+ed by thiR Securlry Instrument, l�ender shall promptly mfiind to Borrower any
<br /> Funds held by Txnder.If,under paragrnph 21. I.ender shall acquire or sell the Property.Lender�prior to the ucyuisittoa or salo
<br /> of the Property.shall apply any Funds held by Lender at the time of acquisltion or sale as a credit sgainst tha supts savred by
<br /> y this Security Instrument.
<br /> � � 3.Applicatiou of Payments.Unless applicable law prov(des ot�erwise.all payments receivett by I.ender under puragraphs
<br /> �t=���, � 1 and 2 shall be applie�: first. to nny prepuyment charges due under the Note;secund,to an�ounts paynble under pacagrnph 2;
<br /> trr.�� �,
<br /> �. a thlyd.to interest due;fourth.to principal due; and last,to any late charges due undcr the ote.
<br /> .� ;�'� 4.Cha►�cs; Ltens.Borrower shall puy all t�es,assessments,charges. fines and imposidons atMbuwble to the Property ,
<br /> - ��,..:'�,;..,•.�a: which may uttnin priodry over th�is Security Instn�ment, and leasedold puyments or�round renta. if any. Borrower shal!pay
<br /> �*''•t".` "�`'' these obligations in the manner provided ln paragraph 2,ar it not paid in that manner.Borrower shalt pay ttie►n on time dircctly
<br /> .j to the person owed payment.8omower ahall promptly furnish w I.ender all notices of amounts to be paiQ under thls puragraph.
<br /> -''•�'. ��� � �`"s' If Borrower makes these payments direcdy,Borrower shall pmm�tly furnish to Lender recelpts evidencing tbe paym�nta.
<br /> �'' `.��,h,„;w�� � Borrower shall promptly discharge az►y lien wh[ch has pr�onty over this Secudty Instrument unless Borrower.(a)asrees in'
<br /> � ��� �arit�ng to the payment of the abligation s�ured by tho lien in ss manner acceptable w I.ender.(b)coatests in good faith the lien
<br /> .ss�:,,••r:. .-�•,� by. or defends agc�nst enforcement of the lien in, legal proceedings wh(ch in the Lender's opinion operate ro prevent the
<br /> � enforcement of the lien:or(c)sexures from the holder of thc licn un agrcement sudsfactory to Ixnder subordinating the lien to
<br /> : ;�� � ` � this Secudty Instrument. If Lemier determines that any part of the Property ls subject to a lien�vhfch may attain prioriry over
<br /> ti �� ' •• this�ecurity Instrument.Lender may give Borrower a nutice tdentifyin$the lien. Borrower shail sndsfy the lien ar take one or
<br /> ;�;;;,,,�.,,: �. more of the actions sef forth above w�thin 10 days of the givin�of notice.
<br /> '�.:,,�,�;�: � S. Hezard or Pmperty Insutance. Borrower shall keep the tmpravements now exisung on c�reafter erectec! on che
<br /> Property insured against losa by fire, hazards included within the term "extended coverage iuid any other ha�acds. lncluding
<br /> floods or floodisg.fnr ulsich Lcrsder requires Insurance. Thi+� inc�uance chall be maintained,ln the aatounts and for the perlods
<br /> � �� that Lender requires.Tha insurance carrier providing the insurence shall be chosen by aorcower subject ta Lender's apprnvat ,
<br /> ' which shall not be unreasonably withheld. If Borrower fails to maintain coverage de.ccribad above, Lender may. at I.ertder's
<br /> '" option,obtuin coverage to protect Lender's rishts in the Property in eccordance with paragraph 7.
<br /> .. Alt insurance policies and renewals shal!be acceptable ta Lender and shall include a sts�ndard mort�aEe clause. Lender
<br /> � shall have the risht to hold thepo licies and renewals.If Lender requ�res,Borrower shall promptty 8iv�to I.ender all receipts of
<br /> � "' paid premiums and renewal nodces.In the event of lass.Borrower shall give prompt notice to the insurance carrier and I.ender.
<br /> ' Lender may make proaf of loss it'not made promptl�by Borrower.
<br /> Unleas Lender nnd Horrower otherwise agree m writing, insucanco proceeds shall be applied to�estaration or repa�r of the
<br /> Property damaged.if the restoretion or repair is economicelly feasible and I.ender's securlry is not lessened.If the restoration or
<br /> � ' repair is not economically feasible or Ixnder's security would be lessened. the insurnnce proceeds shall be opplied to the sums
<br /> " secure�by this Security ihstrument, whether or not then due. with any excess paid to Borrower. If Borrower abandons the
<br /> � Property. ar does not answer within 30 doys a notice from Lender that the insurance cnrrier has offered to settle a cla�m. then
<br /> �� • , Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Praperry or to pay sums �
<br /> �• securod by this Secudty Instrument,whether or not then due.The 30-day periad will begin when the natice is given. „�,,,
<br /> . ' Unless Lender and Borrower otherwise agree !n writing, any apptication af proceeds to pdncipal shall not extend or .��
<br /> • postpone the due date af the monthly payments referred to in pare�raphs I und 2 or change the amount of the payments. If ,.:�,;
<br /> "' ° under paragraph 21 the Property is acquired by I.ender. Borrower's right to any insurance poticies and proceeds resulting from
<br /> , damage to the Property prior to the ucquisition shnll pass to Lender to the extent of the sums secured by this Security Instrument
<br /> immediately prior to the acquisition. Leaseholds.
<br /> ' 6.Occupartcy,Pn�servution,Mnlntenance and ProtectIon oP the Property:Borro�ver's Lo.an Application; ,
<br /> . Bocrower shall occupy.establish,and use the Propetty as Borrower's principal n:stdence within sixty days after the execution of •;
<br /> �• - this Security Instrument und shsill continue to occupy the Property as Bormwer's principul residence for at least one year after
<br /> '`� the date of occupancy, unless Lender otherwise agrees fn writing,which consent shal!not be unreasonably wtthhetd,or unless
<br /> + �° extenusting circumstanees exist wh{ch are beyond Bonower's control. Borrower shall not destroy.damege or impair the
<br /> � . Property, allow the Property to deteriorate, or commit wnste on the Propeny. Borrower shall bc in default �f any forfeiture
<br /> action or ptocexxiing, whether civil or criminui,is begun that in Lcnder's�ood faith judgment could result in forfeitare of the
<br /> Pmpeity or otherwise materinily impair the lien crcated by this Security Tnstrument:,r L.ender's security interest.Borrower may
<br /> � ' cure sueh a defuult and reinstate, as provided in parcigraph l8, by causing the action ar proceeding to bedismissed with n rulin�
<br /> that, in I.ender's goad faith determinution, precludes forfeiture of the Borrower's intemst in thc Property or other material �
<br /> ; # �� impairrttent of the lien cre�ted by this Security Instrument or Lender's security intcrest. Borrower shall also be in default if
<br /> Bornower,during the loan�pplication process,guve materiully false or inaccurate information or statements to Lendcr(or fuiled
<br /> to provide Lender wtth any material information)in connection with the loan evidenred by the Note. including.but rn�t limited
<br /> to, representations concemin�Bonower's accup;uicy of the Propeny as u principal residence. If thix Se��urity Instrument is cm u
<br /> , le�ssehold. Borrower shall comply with all the provisions of the Iwse. If Burn�wer acquires tee titic tu ttic Property, the
<br /> �• leasehold artd the fee title shall not merge uniess Lender agrees to the merger in writing.
<br /> � 7.Protectton of Lender's Rights in the Property.If Borrower fails to perform the covenants and a�reements contnined in
<br /> -, � 'this Security Instrument, or chere is a Iegal proceeding that may significantly affect l.ender's rights in the Pmperty(such as a
<br /> proceeding in bstttkruptcy. probate, for condemnntion or forfeitum or to enfarce Inws or regulations), then Lender muy dn and I
<br /> Qay for whatever is necessary to Qrotect the value uf the Property and Lender's rights in the Prapeny. Lender's actions may I
<br /> �:.� �__ .wt.. c.......:�.. i«.rn.mnnt onmwrino in r��ltttt. D:rvine 1-
<br /> mctude paying 3t►y tiU[Its �CTU[L�! vY :1 iic[i wiutn nu� NiivTiij v�CC ...... ...........� ..........._.._ -rr^-•-c -
<br /> �. reasonuble attorneys' fees and entering nn the Pmperty to make rcpairs.Althc�ugh Lender muy take action under this paragrsph
<br /> 7.Lender does not huve to do so. �
<br /> ' Any sunounts disbursod by l.ender under this parugraph 7 xhall 6ecome additional debt uf Borma�cr s��cureci by thi,
<br /> Security inst�ument. Unless Borrowcr and Lender agree t��nther tcrms of payment, thesc amounts sh�il hcar intem�t irom thc I
<br /> � � dnxe of disbun+ement :�t tHc Nutc rute and shall be payublc, �vith intcrcst, upon nntice from Lcndcr to Horn�wer n:yur+ting
<br /> j „ , payment. �
<br /> , 8.MortgaRe lnsurunce.If Lender reyuircd mort�!u�te insuran�r aa a cunditiun ut making the loan+crurcci by thi�S�YUrity �
<br /> � �� ; Instrument. Born+wcr shull pay the premiums required ta muint�in the m��rtgage in+urancc �n �f(e�t, If. f��r any rw.+un, thc
<br /> v mortgu�e insuranre ruverage rcquircd by Lendcr lupsr+��r rcauw to bc in rt�fcrt.Burn�wrr shall pay the pmmium�myuired tu ,
<br /> abtnin raveragc substantially.cyuivulent tn the mortgugc insursnre pn:viously in eff'��t. ut�►cust ,ubrtantially equivalent tu the .
<br /> �� rnst to Borrower of thc mortgage insursnce prcviuusly in eft'crt,Frum un alternate mortgagc in�urcr appmv..�l by Ixndcr. [f
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<br /> � � . Poqo 7 0�G Form 3028 8180 �
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