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<br /> 'E'he Fun�is shall be hcld in un in�Utution whosc dcposita sro insured by u focicrnl a�n�y, instrumentaliry, or ent(ty
<br /> (inclu�ling[,cnder,if I.cader is suc!►an institutinn)or in any Fcdeml Hnme I.aun Hank. I..cnder shull apply thc Mlmds to pay the
<br /> - �� • - Escraw Itett�s.L.ender may nat cltargc Borrmver inr haldiu�and upplyin� tl�e�unds,mmunlly annlyxin�the escrn�v necautu,or
<br /> �� = vcrifyir�g the Hscruw[tems,unless landcr paye Hntrmver intcrest�»thc Fwid�and npplfcable law permitn[.c�tslrr to nutke guch
<br /> a churgc. Howevcr, l.cndcr muy rcquirc Horrawcr to pny u anc•�imc c:hurgc fi�e nn independcnt rcul cstutc tnx repnding�er�lca
<br /> u>al by I.endcr in cannectiun �vith tht�+ loun, unlcss npplicublo lnw priwiden othcrwixc. UnlexA un nprcement is mncte ar
<br /> pppllcu6lc law rcquires intcrest ta hG patd.I.�ndcr ehull nut hc rcquired tu pny 1�►n�wer any intcrcst or carninge�m the Funds.
<br /> Barrower and I.c�ndcr ntoy ugrec in w�idng,howcvcr.�hi�t intcrcst xNull be paid on thc Funds. ls�uicr xhull give to&�rrnwcr.
<br /> w(thaut chtuge. w►om�uul urcount(ng uf th�: f'undx. xhcnving crcclita und dcbits tn thc l7unds u�t�!Ihc putpnsc far which cach
<br /> debit to thc Funds wag madc.7'he t�undx Aro picdged ur ndditituttt}rt�wu��lty fu�'rall nutuw t,ccueuJ by tNis Sccurity lnstrumcnt.
<br /> If tho Funds hcld by l.ernier exceed tho umaunte�permitted ta bc hcld by applicuble Inw. l.ender shail uccount tu 8orrower
<br /> for the excese Funds in acrnrdunco with thc reyulremdntR af applicnblc law. lf tl�e umount af the Funds held by I.ender at uny
<br /> time ia nnt �ufticlent to pay th��scrow ttems whcn due,l.endcr muy�notify Eomawer in writing,and. in such ccisc Barrower
<br /> �, •. � shull pay to Lender the amount neceswuy to mnke up tho deficiency. Borrower�hull mnke up the deficlency in no more than
<br /> :� ;��'�`-' twelv�monthly payments.at l.ender's solediscretlon.
<br /> .,,,�,-..=`�� . Upon payment in full of ali suma secured by this Securit�r Instrument. Lender shell pmmpdy refund to Borrower any
<br /> i Funds held by Lender.If.under ptuagraph 21.Lender shalt acqu�re or xelt the Property.Lender.pdor to the ucqu�sition or sale
<br /> ��,,.;� of the Property. shall apply any Fund4 held by Lender at the time of acquisidon or sule asa credit aBainst the suma secured by
<br /> .,��` . ,�r,. this Securlty Instrument.
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<br /> �4";'t�';-,;:�;��, 3.Applicatton of Payments.Unless applicaelc law provtdes nthenvise,all payments recetved by L.ender under para�rap s .,_x
<br /> �;; .•�;»;,,. 1 and 2 shall be applied: first, to any prepsyrnent charges due under the Nate:scrond. to amounts payable under paragreph Z; �,..:•
<br /> •;,'�,;;�.;;� third, to intemst due;fourth.to principal due; and Isst,to any late charges due under the Note.
<br /> ��±• :.:j�°.,, 4.Cbarges;Liens. Borrawer ahall pay all texes,assessments,charges, �ines and impasittons uttr�butable to the Property ;�{;;
<br /> s��� ,'����`""'-� which may attain priority over this Secudry Ynsuumcnt. and leasel►old paymente or ground rents, if any. Borrower shali pay ;;;,
<br /> '•*{t�'+►'•"<•.� ••°- '� these obligatlons in the manner provided in paragraph 2.or if�►ut p�id in d�at cua�u�er,Sorrower shutl pay thcm an dme direcdy
<br /> � ��°t�i�,:1•,. '.:
<br /> :�, ;: .�,y,►,�,. to the pecr,on owed payment.Borrower shall promptly furnish to I..ender:il!��otices o�amount�to he paid under this puragraph.
<br /> '' ��°-;'� If Borrower makes these payments dlrectly,Borrower shall promptly fum�sh w l.ende� :eceipts.v{u•ncing��e payment�.
<br /> � ' `.i�� Borrower sha11 promptly discharge any lien which has prtoriry over this Security Instrument uniess Bonower:(a)agree.v in
<br /> '. �:�`�':fr"`r''`;�'�: wdtins to the payment of the obligatlon secureci by ihe lien in a manner acceptable to L.ender;(b)conGsts in good falth the lien
<br /> �` `� by, or defends against enforcement of ttie lien in, le�al proceedln�s which in the Lender's opiniun operate to prevent the
<br /> �`';:=•:u'� •• "��- enforcement of the lien;or(c)secures from the halder of the lien en agreement satjsfactory to Lender subordinatiag the lien ro
<br /> a;,�: .^•.' , ' this Secudty Insuument. Tf Lender determines that any part of the ProPerty is aubject to a lien whtch may attain pnor�ry over
<br /> �,:•:�� ' dds Security Instrument, Lender may�ive Borrower a notice identifying the lien.Horrower shall satisfy the lien ar take one or
<br /> •�:.`���, znore of the actions set forth above within!0 days of the givin�of notice.
<br /> ` ' . n-r'•�'' �� S. Ha7sM or Property Insurence. Borrower shall kcep the improvernents now existin� or hereafter erected on the
<br /> - ��. . Property insured a�rilnst loss by fire. ha�ards included within the term "extended coverage" and any other heu►rds� lncluding
<br /> fla+�s er flc��n�, for which Lender requires insurance. This insurance shall bc maintained in the nmounts and for the periods
<br /> � �%';'! �� that Lender teyuires.The insurance camer providing the insurnnce shall be chosen by Borrower subject to Lxnder`s approval
<br /> "'•���`^'`�' which shati not be unreasonably withheld. If Borrower fails to maintain caverage described above. Lender may,at i..ender's
<br /> " "`� �'��" opdon,abtaln coverage to protect I.ender's rights in the Property in accordence with paragraph 7.
<br /> � All insurance policies and renewals shall be acceptabie ro Lender and shell include a standard martgage dause. I.ender
<br /> shail have the rtght to hold thepolictes und renewals. If L.ender reyuires, Borrower shall promptly give ta I.ender all receipta of
<br /> � . paid premiums and renewal notices.In the event of loss,Borrower shall�Ive pmmpt notice to the insurance carrier and Lender.
<br /> '� � I.ender may make proof of loss if not made promptly by Bonower.
<br /> . Unless I.ender and Horrower otherwise asree in wciting. insurance proceeds shall be applied to restoration or repair of the ,
<br /> •-• • property dama�ed,if the restoration or repair is emnomically fe��ihie and L.ender's securiry is not lessened.If the restoratton or
<br /> • � ., repair ls not economically feusible or I.ender's securlty would be lessened.the insurnnce proceeds shnll be applied to the sums
<br /> .• ' secured by thts Security instrument. whether or not then due, with any excess puid to Borrower. If Borrower nbandons the
<br /> • '. Propecty, or does not answer wlthin 30 days a notice from L.ender that the insurunce currier hus offered to settle a claim. then
<br /> :•,..�� " • Lender may collect the lnsurance proceeds. Lender may use the proceeds to rcpair or restore the Property ar ro puy sums
<br /> ' - secured by this Secudty Instrnment,whether or not then due. The 30-duy period will begin when the notice�s given. -v
<br /> Unless Lender and Bonower othenvise ugree In wricing, uny applicatlon of proceeds to pdncipal shull not extend or
<br /> � , postpone the due date of the monthly payments referrc:d to in para�raphs I and 2 or chunge the umount of the payments.If
<br /> ' ` under paragtaph 21 the Propecty is ucquire� by I.eader, Borrower's right to any insurance policies and proceeds resulting from
<br /> � demage to the Property prior to the ucquisition shalt pass to Lender to the extent of the sums secured by this Security Instrument
<br /> , immediately prior to the acquisitfon.
<br /> "= 6.Occupancy,PceserVation,Maintenance end Protectlon of the Pcoperty; Borrower's Loan Application;Leaseholds.
<br /> .. Borrower shall occupy,establish,and use the Property as Borcower's principai residence within sixty days after the execution of
<br /> ��� •''k�' this Security Instrument and shall continue to aaupy the Property as Borrower's principal residence far at least ane year after
<br /> �`` ' the ciate of occupancy, unless L.ender otherwise agrees in writin�, which consent shell not be unreasonably withheld,or unlesa
<br /> ,.F;`a„ " � extenuattng circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair the
<br /> �.�`s,;„ � . . Properry, aliow the Property to deteriorate. or wmmit waste on the Property.Borrower shal! be in default if any forfeit�re
<br /> �� action or procecding, whether civil or criminal,is begun that in Lender's good faidi judgment could result tn forfeiture of the
<br /> x;'., � ' Property arotherwise matertally impair the lien created by this SecurIty Instrument or Lender's secudry interest. Borrawor may
<br /> " cure such a default and reinstate.as providr.d in paragraph 18.by causin�the uction or procceding to be dismissed with a ruling
<br /> that. in Lender's�ood faith determination. precludes forfeiturc of the Borrawer's interest in the Property or other material
<br /> impaiement of the lien created by this Security Instrument or Lender's securiry interest. Borrower shall also be in default if
<br /> " Borrower. during the lo�n application process.gave muterially false or inaccurate information or statements to Lender(or failed ,�
<br /> f . ,. to pmvIde Lertder with any materiul [nfomiation)in connection with the loan evidenced by the Note,includin�, but nat limited
<br /> �:� to,repc�esentatians conceming 9orrower'soccupancy of the Property as a principal residence. If this Security instrument is on a
<br /> �� : , leasehold. Bort+nwer shall compfy with all the provisions of the lease. If Borrower acquires fee title to the Property, the
<br /> � „ , leasehold and the fce title shall not mer�e unless Lender agrees to the merger in writin�.
<br /> !'• 7.1'roteetion oP Lender's Rlghts in the Property.If Borrower fnits to pedorm the covenunts and agreements contuined in
<br /> ?�° this Security Instrument.or there is u legal proceeciing thnt may significantly affect Lender's rights in the Property (such�s a
<br /> � proceedin�in bankmptcy, probate, for condcmnatton or forfeiture or to enforce laws or rc�utations), then Lender muy do and
<br /> •� pay for whatever is ntxessary to protect the vnlue of the Property and L.ertder's rights in the Pmperty. Lender's uctions may
<br /> t_-'•-�- --..�-- -- _....Y.1 L» .. i:_.. ..,�,t..h wo., ...:nAw nvn� thic Cor�•riw inctn�mrnr. anne�rine in cnurt_ n3Yttte
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<br /> reasonable ettorneys'fces and entering on the Propeny to make repairs. Although Lender may tuke action under thi�paragraph
<br /> 7,i..ender doe.s not huve to do so.
<br /> .- " � � Any umuunts disbursod by Lender under this para�raph 7 shaU become additional debt of Borrower secured by chis
<br /> `� � Secudry Instrument. Unless Borrower u� L.ender agree to other terms of payn�ent.these amounts shall be:u interest from the
<br /> .. , date of dis�ursement nt the Notc ratc and shull be payuble. with interest. upon notice from I.ender to Bormwer requesting
<br /> - payment. �.
<br /> 9.Mortgege Insurance.If Lender rcquired mortguge insurnnce us n condition of making the loan secured by this Security
<br /> � Instrument,Borrower shall pay the premiums requirecl to muintuin the mortgage insurance m effect. IF, for uny mason,the
<br /> " � mortgage insurance rnveruge rcyutred by Lender Inpses or ceases to be in effect, Borrower shali pay the premiums mquired to
<br /> obtuin coveru��substantiui�y equivulent to the monguge insurance previously in effect,nt a cost subswntiully equivalent to the ,
<br /> �:+ ' � rnst to Borrower of thc mortguge insur+u►re prcviously in effect, from �n:iltemute mort�age insurer approved by Lender. [f
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