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<br /> ' Thc Funds shall bc hcld in an intititution whosc deposits arc insured by a fcdcral agcncy, instrumcntulity, or ctitity N
<br /> (indu�iinl; [.cndcr, if Lcndcr is wch un institution)or in any Fcctcral Homc Loan[innk. l.cndcr shnll npply thc�unds to pay the
<br /> Escrow Itcros. I.cnJcr may not charbc I�urrower fnr holding anJ upplyin�t thc Punds.annually c�.nalyzing thc cscrtnv accuunt, or
<br /> ` vcrifying thc 8scrow Itcros, unlcss I.endcr pays Barruwcr intcrest on tlic Funds and applicablc Inw permits Lendcr tu makc such � _
<br /> a chnr�c. k�owcvcr, L.cndcr mny rcquirc Borrowcr to pay�one-timc churge for nn independent rcal cstnte tax rcportin�scrvicc �.`�"=
<br /> uscd by Lcnder in c�nncction with this loan, unless applicable luw nrovidcs oehcrwisc. Unlcss an agreemcnt is madc or ��
<br /> � •ipplicalilc law rcquires intcrest to hc paid, Lcndcr tihnll noc bc rcquircd to pay Borrowcr any intcrest or carnings on thc Fwids. ��,___.
<br /> Borrowcr und Lcndcr mny�+�rcc in writing,howcvcr, that intcrest shall bc paid an thc Funds. Lc:ndcr sl�all givc to Borro�vcr, �
<br /> without charge, un nnnuul aeec�unting of the Funds, showing credits and debits to die Funds and the purpose for which euch _-
<br /> - � debi� to tf►c:Funds wuti made.Tl�c funds are pledged as addition�!security for all sum��ecurcd by this Security InStruntent. L�';
<br /> If thE Funds held by Lender exceed the umounts pennitted to be hcld by applicuble law. Lender shull account to Borrower
<br /> for the cxccss Funds in accorduncc with thc requirements of upplicablc law. If the amount of the Funds held by [.cnder nt :tny __
<br /> time is not sufficicnt to pay the Escrow It�ms whcn due,Lcnder may so notify Borrowcr in writing, and. in such case Borro�vcr v-
<br />�' �� shall pay to Lender the amount necessary to make «p the deficiency. Borrower shall make up the deficiency in no more than
<br /> � •• twclve monthly payments,ut Lendcr's solc discretion.
<br /> � Upon payment in full of uU �ums sccurcd by this Securiry Instrument, I.cndcr shall promptly refund to Borrowcr any _
<br /> Funds held by Lender. lf,undcr paragraph 21. (.ender shall acquirc or sell the Property.Lender,prior to thc acquisitian or salc r
<br /> . of thc Propeny, shall apply any Funds held by Lender at the time of acquisition or sale as u credit against the sums secured by
<br /> this Security Instrumcnt. —
<br /> 3.Appllca¢ton of Payments.Unless applicublc law provides otherwisc,all payments received by L.ender under parngr�p�s
<br /> 1 and 2 shall bc applicd: first, to any prepayment charges due under the Note; second, to amounts payable under paragnp __
<br /> °c>.. third, to inte�cst duc: fourth,to principal due: and last,to any late charges due under the Note. ---
<br /> 4.Chnr�es; Ltens. Borrowcr shall pay all taxes,usscssments, charges, fines and impositions attributuble to tt►c Property --
<br /> � which may attain priority over this Securrty Instrument, and leasehold payments or ground rents, if any. Borrower shall pay
<br /> � these obli�ations in the manner provideci in parugraph 2,or if nat paid in that manner. Borrower shall pay them on time directly ____
<br /> to the person owed payment. Borrower shall promptly fumish co Lcnder all notices of amounts to be puid undcr this paragraph. —
<br /> If Bonower makes thcsc payments directly,Borrower shall promptly furnish to Lender receipts evidencing the payments. __
<br /> Borrowcr shull promptly dASCharge any lien whirh hus prionty over this Sccurity Instrumcnt unless Borrowcr: (a)agrees in �,Y
<br /> writing to the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)contests in good faith the lien _
<br /> by, or defcnds against enforcement of thc lien in, legal procccdings which in the Lender's opinion operate to prcvent the ��,.
<br /> enforrement of the lien; or(c)secures from thc holdcr of the lien an agrcement satisfactory to Lender subordinating thc lien ta =
<br /> this Security Instrumenr. If Lender determines that any part of the Property is subject ro a lien which may sttain priority over _
<br /> this Sccurity Instrumcnt, I.ender mxy givc Borrower a noticc identifying the licn. Borrower shall satisfy tlie lien or take one or
<br /> more of the actions set fonh abovc wuhin l0 duys of thc giving of notice. �:--
<br /> ° 5. Hazurd or Property Insurance. Borrower shall keep the improvemcnts now existing on c�reafter crectat on the
<br /> IPropeny insu�ed against loss by fire, h:u.�rds included within the tcmt "extcnded cavcragc"and any other hazards, includin� --
<br /> 3 floods or flooding, for which Lcndcr rcquires insurance.This insurancc shall be maintained in the amounts und for the periods
<br /> --- `' n $�tha:,c�5y So�r^:v�:'���h3��r r� 1 rn�i�r c:�n�roval
<br /> that l.cnder rcquires. I hc insurancc carricr providi��g ii�r i�i�uidi'iCa:iu3u _
<br /> which shull not be unreasonably withheld. !f Borrowcr fails to maintain coveragc described above. Lender may, at Lcnder's
<br /> � option,obtain cuvcragc to protcct Lcndcr's rights in thc Property in accordance with paragraph 7.
<br /> ' All insurance policics and renewuls shaU bc acceptablc to Lendcr und shall include a stundard mortgage clause. Lender __
<br /> ' shall have thc right to hold the policies and renewals. If Lcndcr requires,Horrowcr shall promptly givc to Lender all reccipts of =___
<br /> paid premiums and renewal notices. In the event of loss,Borrower shall give prompt notice to the insurance carrier and Lender. ••--
<br /> Lcnder may make proof of loss if not marie promptly by Borrower.
<br /> Unless Lcndcr and Borrowcr otherwisc agree in wnt�ng, insurancc proceeds shall be aNplied to restoration or repair of the
<br /> Property damagcd,if tlte restoration ur repair is economically feasible and Lender's security �s not lessened. [f thc restoration or .�
<br /> repair is not econotnically fcasible u�Lender'ti,ecurity wi�uld be lessened, the insurance proceeds shall be applied to the sunts
<br /> secumd by this Sccuriry Intitrument, whcther oi not then duc, with ctny caccss pciid to Burcciwer. If Borrower abandons the �'
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<br /> ° Property, or does neit anxw�r within 30 dayx a ncnicc from L.ender that the insurance carrier has offered to settle fi elaim, then r_-
<br /> � I.ender may ci�llect the insurance procecds. Lender may use the proceeds t� repair or restore the Properry or to pay sums
<br /> �ecurcd by this Securiry Instrument, whc[her or not then due.The 30-day periexi will hegin when du notice is given. "''
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<br /> Unless L.ender anJ Borrower otherwise agrec in writing. any application i�f procceds to principal shall not cxtend or �
<br /> postponc thc duc datc of thc munthly payments rcfcrrcd to in paragraphs i and 2 or changc thc amount of thc paymcnts. [f r��
<br /> u�ider paragraph 21 the Property is acquircd hy Lender.Borrower's right tu any in�urance policies and praceeds resulting from ;•_.:-
<br /> damage to the Propeny prior to the acyuisition shall pass to Lender ro the extent of'the sums secured by this Securiry Instrument ^
<br /> ' immediately prior to the ncquisition. '��
<br /> 6.Occupancy,PreservAtion,Mnintennnce and Protection of the Property; liorrower's Loan Appl[catiom, Lease4�olds. `'
<br /> Borrow�er shall occupy, establish,and use the Property us Borrower's principal residence within sixty days ufrer the execution of -
<br /> this Security Instrument .ind shall continue to ocrupy the Property a, Borrc�wer's principal residence for at Iexst one yeae ��fter �<<�._�
<br /> the date of occupancy. unlrss Lcndcr uthrr�vi,c t►grces in writing, which con,cnc +hall not bc unreasonably�vithheld, or unless �
<br /> extenuuting circumstan�es exist which are bey��nd Borrower's runtrul. Borrower shall not de�uoy. daniage e�r impair the ��+�
<br /> Property, allow thc Prupcny tc�dctc����ratc, or rcnnmit w�stc un thc Pruperty. Borrowcr shall bc in dcfault if any fort�citurc
<br /> action or procecding, whcthcr civil or rruninal. i� hcgun that in L.cndcr's goud faith judgmcnt cuuld retiult in forfciturc of thc
<br /> ' • Property or otherwise materially impair thc lien creatcJ by this Security Intitrument or Lender'.�crurity intcrest. Borrowcr mxy
<br /> cure such a default anJ reinstute,as pmvided in pniragraph 18, hy causing thc artiun ur proceeding tn he Jismissed with a ruling
<br /> that, in L.cndcr's gund failh detcrmination, prccludcs forfciwrc of thc Borrowcr's intcrest in thc Pr��perry or othcr matcri:d
<br /> impuirment of the lien crcated by thiti Securiry Instrument or LenJer's security interest. Bottower shall alsa bc in defuult if
<br /> Borrowcr,during thc loan application prcxctiti,gavr matcri:dly falsc or inaccuratc informxticm or statemcnts to Lcndcr(or failcJ I
<br /> to providc Lcndcr with any m:ucrial intormation) in ronncction with thc{c�an�vidcnccd by thc Note, incluJing,but not lirnitcci
<br /> to, rcprescntations conccrmng Borrowcr's ocrupan�y of thc Pmperty as a principal rc�iJenrc. If this Scrurity Instrumcnt iti on a
<br /> Ieas�holcl, Borrowcr shall rmnply with all the provitiions ��f the Iease. If B��rruwer acyuires tce tidc ro the Property, the �
<br /> leasehold and thc fcc tidc shall not mergc unlcss Lender agrccs tc�the mergcr in writing. �
<br /> 7. Protection of Lender's Ri�hts m the Property.If Borrower fails to perti�rni thc covenants and agrcements contained in
<br /> this Securiry Instrument, ur there is a Iegal proreeding that may significantly affect Lender's rights in thc Property (�uch:IS d
<br /> procecding in bankruptcy, probatc, tor rondemnation or forfciturc or to cnfbrcc laws or regulations), thcn l,cnder may do and �
<br /> � pay tbr whatever is ncrestiary to prutcrt thc valu���(the Property anJ Lender s rights in �hc Pruperty. Lendcr's cicnnns may I
<br /> mrlude pavin� any sums secured by a lien whirh has prioriry ovcr this Securiry (nstrument, appcaring in coun, payin�
<br /> i.
<br /> � � --: ----�-- --- 1'C8tiOOablc�attorncyti� �l'C1:IIIJ Cllll'1'lll�' on thc Pr�pcn��tn makc rcpairs. Altnuugli i.endcr m.ty GtKI':il'UUII UItUCt lltt��ia�a�iaNi� r'. -
<br /> 7,Lendcr ducs nut havr tu do tio.
<br /> ' Any amounts disburscd hy Lcn�lcr undcr this paragraph 7 �hull heromc additional dcbl ul B�ttro���cr ucureJ hy �hiti �
<br /> �, . Security Lititrument. Unlrtis Borrower and LenJcr agrce tu nther trrm+ut�payment, these amount��hall h�ar interc�t frum thr I
<br /> datc of di�bursrmcnt at thc Nutc ratc anJ .h,dl lx payablc. with intcrest, upun nuticc trom Lrndcr t�� Hurruwcr rryuc�iing ;
<br /> ' paymcnt.
<br /> ` B. Aturtgn�e Insurnncc. If'L�ndcr reyuirccf mi�rtgagc inwranrc u�a�unditiun of ntaking thr luan�ccurcd hy thi�5rrurity j
<br /> i� ' � Inshumcnt. Burrowrr shall pay thc pnmiums rryuircci tu maintaiu thc m��rtgugc in�urancc in cffcct. If. liir any rea.un.ihc
<br /> mortg�gc insur,�nce ruvrrag� reyuired hy Lender L•ipses ur r�a+r+ to he in rflect. I3�irru��•er shall pxy the prrmium� rryuircd ti�
<br /> � rbtain cavcra�r >uhstantic�lly cyui�•alent t��thc mortgagc in�uranrc previ�iu�ly in cffrrt.at a rutii �ubxtantially cyui�•alcnt tu thc
<br /> i .. rust lo Burruwcr u(thc murtgagr in�ur,mcc prcviuu�ly in cffrrt. Iri�m an altrrnatc mnrt�,agc intiurrr approvcd b}• Lcndcr. It� �
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<br /> ' �•,ye j;,,., Fotm 3026 9i90
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