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<br /> 'f'hc Nunds shall �c hcld in an in•,Iltn6inn r�hur.c dcpu�;its «rc in�urcd Ny a fedcr.d a};cncy, intiul�mcitt.lity. or cntity
<br /> (IfICIA!din�Lcnder, if L.cndcr is :,uc;�un ira4titution)or in any FcJcr.d 1lumc L.oan Il,inlc. I.cndcr shall upply ti�e FuuJti to pay ihc
<br /> :�..•-" • . Escraw Items. l.ender tnay not cliarge[iorro�,ver fur huldint;and applyin�;the Punds.unnuaUy analyzir��the esr.ro�v a��count,ov .
<br /> r, '�^�`•' -;;•�• vevifying the Escrow Items,unless Lcnder pays Burrowcr intcrest an thc Funds nnd applic�ible luw permits l.ender to makc such
<br /> '�., _
<br /> -��",_•�,�„�,� n cl�a�;e. However, Lender may rcquire Sur�owcr to pay a onc-timc charge far an iiidependcnt real estate tnx rcporting service '
<br /> ���;_,;,.�i.�!+�, .. uscd by C.cndcr in conneztion with this loan, unless applicable Invi providcs nthenvisc. Unless fin agrr.cmen► is made ur �>> ..y�-_
<br /> .s._... applicable la�v requires interest to bc paid.Lcnder shall not be requircd to pay 8�rr�vler uny interest or eamings on�hc Funds. �e�n,.=�;:;;
<br />�`^��w�►�%��' Rorrowcr and Lendcr n�ay agreG in writing. �owevcr,d�al intcr.:.1t sl�all b:paid on thc Fwtsf�.[�'ndcr shall glve to finrrmver. �k�.._ ,.�_.
<br /> .J��,�.,,,�. �vithnut charge, an annual aceaunting of d�e Funds, shuwin� creciits imd debits to Uie Funds and the pury�ose for which each � _
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<br /> dcbit to the Funds wns mnde.The Funds are plcdged:ts ndditiunul sccurity for�II Eums�ecurctl by this Secunty Instrumcnt.
<br /> -� .�,�r�-�,�,�,��;c�� if the Funds hield by Lcnder ezcced thc :uuaunts permittcd to be hcld by opplicablc law. 1 •ndcr shnll account to Borra�vcr �,�,� ��r•
<br />—'"`''- ' for the excess Funds ia accordance with the rcquiremencs oi applicable luw. lf the umount of ���e �unds held by Lender at any - --__ry�
<br />';r` :'�� " �•��� time is not suEficient to p�y the Escrow[tems when due, l.ender may so notify Bonower in writin�,and,in such case Borrowe�• --_____
<br />�s��'''"' � �`"'''' shall pay to Lender the amount necessary to make up the deficiency. 8orrower shall make up tf�e deficiency in no ��iare than _ _
<br />'ai�' _" ,,��':�"_ � twelvc monthly payments,at l.ender's saie discretian. ____
<br />'"""'} Upon payment in full of all sums secured by this Security Insttument, L.cnder shall promptly refand to Barrower nny _
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<br />-`��'�''= • ��` -"� Funds held by l,ender. If,under pa.ragraph 21.Lender shall acquire or sell the Property. Lcnder,prior to the acquisition oe sale
<br />�� :` � . of the Property,shall apply any Funds held by Lendsr at the time of acquisitian or sale as a credit against the sums secumd by �. ._
<br /> _y •.� � " this 5ccurity Instrument. -
<br />-�..;,�;:, _. 3.AppllcnttQn of Payments.Unless applicable law provides othenvise,all payments reccived by L.endcr under paragraphs _
<br /> � '�'�' °'j� 1 and 2 shaU be applied: first, to any prepayment charges due under ths Note: second, to amounts payable under paragtaph 2: _
<br />�`''�� � �hird,to intcrest due•fuurth,to principal due•and last.to any late charges due under the Note.
<br />� ' 4.Charges; I.tens. Borrower shall pay all taxes,�tssessments, char�;es, fines and impositions attributable to ttte 1Property .
<br />��.' :.�- ,��� ���.'G which may attnin prioriry over this Securiry Instrument, and leasehold paymcnts or �round rents, if any. Bonower shall pay
<br />:� these obligutions ire the marener provided in paragraph 2,or if not paid in that manner.Horrower shall pay thcm on time directly `
<br /> ,,4 ,. . , to the person owed payment.Borro�ver shall promptly fumish to Lendcr all notices of amaunts to be paid under this paragrapfi.
<br />�' . . � If Borrower makes these payments direc2ly,Borrower shall promptly fumish to Lender receip¢s evidencing the:payments.
<br /> Bonower shall promptly discharge any lien which has priority nvcr this Security Instrument un[ess Borrower:(a)agrees in
<br /> •� writing to the payment of the�blisation secured tsy the lien in a manner acceptable to Lender; (b)contests in goad faith the lien
<br />� � by, or defends �gainst enforcement of the lien in, legal proceedings wt�ich in the Lender's opinion operate to prevent the
<br /> '.` � ' enforcement of the lien:or(c)secures from the holder of the lien an a�reement satisfactory to Lender subordinnting die lien to
<br /> . , . � this Securiry Instrument. If Lender determines t�at any part of the Property is subject to a lien which may attain prioriry over
<br />' . • this Security Instrument, Lcnder may givc Borro�ver a notice identifying the lien.Honower shall satisfy the lien or tt�ke onc or
<br /> : more of the actions set forth above within l0 days of the giving of notice.
<br /> _. .. 5. Ha7mrd or Property insurance. Borrower shall keep the improvements now existing or hereafter erected on the
<br /> � " ' Property insured against loss by fire,hazlyds includea within tne�erni "enici�a± t�v::rag�" a'�d:.'t3 c=n=f h°=s`�`, in�inrlinU
<br /> floods or flooding.for which Lender requires iasurance.This insurance shall be maintained in the amounts a�id for the periods
<br /> - that Lender requires. The insurance carrier prw�.-iding the insurance shall be chosen by Borrower subject to Lender's approval
<br /> whi�h shal! not be unreasonably withheld. If�orrower fails to maintain coverage described above, L.cnder may, at Lend�r's
<br /> ' � option,obtain coverage to protect Lender's rights in the Property in accordance with paragraph 7.
<br /> All insurance policies and rcne�vals shall be acceptable to I.ender and shall include a standard mortgage clause. Lender
<br /> � � shall have the right to hold the policies and renewals.if Lender requires, Borrower shall Qromptly give to Lender alt receipts of
<br /> ° ' ;; • � paid premiums and renewal notices. In the event of loss,Borrower shall�ive prompt notice to the insurance carrier a��l Lender.
<br />� � [.ender may make proof of loss if not m:�de prornp[ly by Borrower.
<br />�� • " Unless I.ender nnd�3onowcr othenvise a�r�e in�vntmg,insurance procceds shall be applied to restoration or repair of the �—
<br /> " Property damaged,if the restoration or repair is dconomically feasiblc and Lender's securiry is not lessened.If the restoration or ��
<br /> repair is not economic.�lly feasible or Lender's security would bz lessened, the insurance proceods shall be applied to the sums �
<br />' � ,,;;.�:;, secured by this 5ecurity Instrument, �vhether or not then due. �ti'�i:. any excess paid to Borrower. If Borrower abandons the �___ _
<br /> w`�' `�%•'�:,:�"'i:ti ' Pro rt or does not answer �vithin 30 days a notice from Lender that the insurnnce careier has offered to settle a daim. dien Rs._
<br /> � ''"'`°�`��!':';,;� Lender may collect tha insurance proceeds. Lender may use the prc�ce,xls to repair or restore the Praperty or to pay sums �.
<br /> �•• , -
<br /> � •����'�:=����,;:?;`�, secured by this Security Instrument, whetheror not thci�due.The 30-day penod will 6egin when the notice is given.
<br /> Unless Leader und BoiTOwer othenvise agree in writinF, any application of procecds to principal shaU not extend or r;_
<br /> � ' y postpone the due date of the monthly payrnents referred to in paragraphs 1 and 2 or charege the amount of the payments. If t::!�--
<br /> � under paragraph 21 the Prapr.rty is acquirod by Lender, Borrower's right to any insurance policies and proceeds resultiug from ,
<br /> � damage to the Propecty priur to the acquisition shall pass to L.ender to the extent of the sums secured by this Serurity dnstrument ;:,�4,=,
<br /> ., „ immediately prior to the acquisition. '=`��
<br /> = 6,Occnpancy,Pceservution,Mnintenance and Protection os the Property; Borrower's Y..oAn�Pplicallon;Leaset�olds. -r.,__.
<br /> ,.._
<br /> ' Borrowcr shall occupy,establish,:uid use the Pruperty as Bonower's principal residence within sixty dnys after the exe�:ution of �.1_:
<br /> � , this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one yG3r after , '4..:'
<br />-- � the clnt2 of occupar�cy.unless L.ender othenvise ag�ees in writing, which consent shall not be unreasoaably witl►held,or unless �,,.:
<br /> er.t;���ating c►rcumstances exist �vhich arc beyond B�rrower's control. Borrower s'.�nzdl not destroy, damage or imp�r the �,�.;,..:
<br /> � " " � Property,allo�v Q�e Propcny to detcriorate.or co�imit waste on the Property. Borrotiver shall bc in default if any forfeiturc �?�;��•�.
<br /> ,.�' " • action or proceeding, whether civil or criminal, is begun that in L.ender's good faith jud�ment could result in forfeiture of the
<br /> . � Propeny or otherwise materially impair the lien created by this Security Instrument or Lender's security interess. Borrmver may
<br /> ' cume such a default and reinstate,as pmvided in paragraph 18, by c:iusing the action or procecding to be dismisscd with a ruling
<br /> 4+ �� thaT, in i.cndcr's good faith detcrniinatior�,precludes for(citure of thc Borrowtr's intcrest in thc Property or other matcriul
<br /> impairment of the lien cmated by this Security Instrument or Lender's security interest. Borco�ver shall also be in default if
<br /> �,. . Borrower,during thc loan applir:�tion process. ga�'e materially false or inacwrate inforniation or statements to L.ender(or failed
<br /> S • to provide [.cnder with any matcrial informationl in cvnncr.tion with thc loan evidenced by the Nute, inrluding,but not limited
<br /> to, rcpresentations concerning Borro�ver's occupancy of the Property as a principal residenre.If this Stcurity Instrument i�on a
<br /> ••�- Icaseliold. Borro�ver shall comply �vith ull the provisions of thc Ieasc. If Borrower acquircs fcc tide to thc Property. the
<br /> _: .� '� Icasehold and the fec title shall not mePge unlcss Ler.der agmes ro the mergcr in�vriting.
<br /> �r 7.Protectton of Lendec's Rights in thc Propertv.If Borrowcr fails to perForm the covenants and agrccments contained in
<br /> this Security Instn�ment, or there is a legal proceeding that may significantly affect I.ender's rights in the Propeny (such as a
<br /> � _;__LL-' __ _____ __W.,:....:.,b..L„,.,r�., n..il,.zrr tor condemnauun or forfeiture orto enforce la�vs or regulations), then Lender may do and �
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<br /> #' �y for�vhntever�s necessary to protect the value of the Property and Lender's ngbts m ene Cropeny. i.cnurr'a u�in��„ ���a� �
<br /> c � ' ttzlude paying any sams secured by a lien �vhich has prioriry aver this Se�urity Instrvment, appcaring in court, paying �
<br /> reasonablc attomcys' fccs and entcring on thc Property to make repairs. Although Lcndcr may takc action widcr thi�paragraph i
<br /> { , 7, Lendcr dors rtot havc to do so. �
<br /> • Any antounts disbursed by I.cndcr undcr this paragraph 7 shall bc��mc addition:nl debt of Borrv�vcr .�u� ny �t,�.
<br /> • Sccurity instru►�ent. Unless Borrower and Lendcr agree to other tenns oF paymcnt, these amount� �hall brar �nter�yt frum thc .
<br /> date of"disbursement at the Notc rate and shall bc payablc. ��•ith intcm�t, upon nutice t'rom Lendcr tu Borru��•cr n�yuc�ting �
<br /> paymcnt. �
<br /> 8.i�fortgage Insurunec.iC Lender requin.�1 mortga�e iusurance as a conditiun of making nc�lo:m.crumd hy this Securit}•
<br /> _ . ^ Instntmcnt, Borco�vcr shall pay chc p►rmiums rcyuir�tii ta maintain die mongagc inwr.�nrc m rff�tit. If. fur any rca�un. thc I
<br /> � „ rnortga�e insunnce coverage required by l.citder 3�pses ur rw+es a�be in cl'Eect. Butro��er,liall pay� the pr-emium� reyuir�tif t��
<br /> obtain c��rrage substantially eyuivaler�t ta the mortgage in,urance prcviuusly in cifrrt,at a�Y��t.ub�t:,nu:illq cyuic:dent tu thc ,
<br /> �, ' cost to Borro�scr of tlu mortgagc in�urancc pmvivusly in effcrt. from an altcmatc mun�agc m+urer :ippru��J b}• lwndcr. If �
<br /> � I
<br /> � � v,�o���a Form 3028 9i90
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