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<br /> it � , , . . . �� ���� , . t ����
<br /> � , ' ` � �. its are iFUared by a�ede�agency. instrumen�ity. or en� �'
<br />— 'Cite Fuads Shall be held in ar► inst�tation whose deQos i�e��o,,v account.a: , < '�
<br /> � (iaciuding lxnder.if Lender is such an institution)or in any Federal Home LoaR B�n1�•Lender shall apply the i�unds to pay ,�
<br /> _ ` ` � � Escro�v Items.i.ender ms�y not charge Borrovrer for holding and applying the Funds.ennually analYzins
<br /> m licable law pe�mits txnder to make such • `'�� � �`-
<br />=a, �� � ��` � uire Borrower to pay a one-time charge for an independcnt real estate tax rePorting serviFe -�
<br /> ` � verifying the Fscrow Items,unless Ler+der pays Borrow•er ilterest on the Funds•and app . v_
<br />� ; , , a c h a r g e. Nowever. Lender may teR l i c a h t e inw provides othervvise. nteerest or 3�ming o n i t h e F unds. • - --
<br />,�, . us r.d b y Lender in connection �vith this l�nder�s h a l l n t be r e q u�to pay Borro►ver any �
<br />� . � , applicable law requires interest to be paid. ose for�vhich each . _
<br /> -- • gorcower an d I.e n d e r c t�y u B r e E��w n un g,however.that interest shafl be paid on the Funds.Lender shal l give to Borrawer• _��
<br />-'� � ' �ithout cRsr€�e• un anrt�aat accounting of the Fundy. showin�c r e dits an d d e b i t s t�t h e F u n d s a n d t f n e P�P, . ,. �s�,
<br /> � • l�i ed as additional sec+uity far all sums secured by this Secunty lnstniment-
<br />� .� �� ' � ' � debiY to the Funds was made.The Funds are p S I�cable law. Lender shall acrnurt to�orrdwer �
<br />� =-.- - . � -- li the Furuls held by LendeT excced the amounts Perm��ted to be held by app F ,
<br /> �� � for t�e�s Fund�1°aCCOr��w����e�II1rements of applicable law. if the amount of the Funds held by Lender at any
<br /> so noti Bormvrer in writing.and.in sucts case Burrower �;��_.
<br /> . .
<br />-�-.- � �n r�cs mote tf�an �
<br /> • ..� time is not sufficient to pay the Escrow ttems whe�►dae.Lcnder may ' - =-��.'_- ;
<br /> � • ` shail pay to Lender t6e amount neceSSarY to m�e up the deficiency: Borrower shall make up the definency � -�-
<br /> refund w Sorrower any �'�`
<br />=--" ' " � t�veive monthty payments.at Lender s sole d'ucretion. ',:�.; . ,��. �
<br />-.�•;: '._.. '_ . ' ... Upnn payment in full of all sums secured by this 5ecuriry Instrument.t.ender,s��d�mP�or to the acquisiaon ar sale . _ .;.�
<br /> . - Funds held by Lender.[f,under paragrsPh 2�-Lender shall acquire or sell the ProPertY• P
<br /> ' � ' • of the Pro ertY.shall apply any Funds held by Lender at the time of acquisition or sale as a credlt aSa�nst��S��m hs .. �'� :.�
<br />;i � • this Securiry[nsuument. mea u r e c e i v e d b y L e n d e r u n d e r p a r a g r a P , ,���,
<br />-,�. ., .. : • 3.Applicatio�of Paymen4s.Oniess appticable law�P due underith�e Note:s�ynd,to amounts paYable under paragraph 2: `
<br /> ' � 1 and 2 shall be applied:first.to any prepayment charg . ��_�,� �
<br /> ositidns attributable to the ProUercY
<br /> ' _ " third.to int�rest dule.i'. .8orrowernsl ali pay all�taaes.assessmen[s.�chuges�,efinesean�imp Borrotver shaU pay • . „ �
<br /> • ' � ' • 4.Chargcs , �ment. and leasehold payments or ground renu, if any em on time direMIY - - ' ," � n�
<br />-�' �. �; . . ` which may atta�n priority over tws Securiry � h 2.or if not paid in that ma�r.Borcower shall pay t1� . . -:. ,�•, �
<br /> ` , these obligations in the manner provided in patagra�
<br /> , . ts evidenc+ng the paymeats-
<br /> � to the person owed payment.Borrawer shall prompte'S���S�mp!i yndfu�►�h°o�l�nder mceipu�o be pazd u�eN�ila$�n :�'•.��s'��
<br /> � `' '. � lf Bormwer makes the�e payments dire�ly.B��` P I��ument unless Bo
<br /> e an lien whicli has priority over this Se�►�Y ��;�•�;�
<br /> �� ` ' ' • � . Borrower shall pmmpt ly diseharg Y�
<br /> _� .. , ., ., . . . b the lien in a manner acceptabte to L.eader,(b)cuntests in g faith d�e � --
<br /> � � �� '__. , , wririn�to the payment of e obligation secu ,Y roceedin which in the Lende�s opinion operate to p�ent the
<br /> -_,.... . . •:
<br /> s;;:.,,..
<br /> ..._..�
<br /> ' � � by. or3e�ends aga�nst enforcement�of��he�lien-�n..legal p . &S ---..... ` ,����
<br /> e is sub'ect to a lien which may atta�n prioriry over �,Ny� �
<br /> • ' � enforcement of the lien:or(c)secures from the holder of ie f�e�p��ni��factory to�I:eadet subordinatino .� ien to _ _
<br /> y . '. ", � � this Sewrity Insmiment.If Lender determines that any p �e��en_Borrower shali satisfy the lien or tatce one ur � .���•r_�
<br /> � ` this Security Instn�ment.Lender may give Borrower a notice idendfying .�v
<br />_ . , , . more���� ore��ove within l0 days of the giving of notice. o�ei�S��ncluding ����'
<br /> ' '� ' (nsurance. Boao�ver shali keep the improvements now existing or hereafter erected an the � _
<br /> . , " property insured against loss by Cre. hazards included within tiie tem►"extended covetage" and any -
<br /> r
<br /> - , , ftaods or ftooding.for which Lender requires insurance.��u��Shall be'c osen by Borroweres blect o Lenderts�na� � :" . _
<br /> � that C.ender requires.T h e i n s u r a n ce�e f P r°v i d i n g h e b._.
<br /> , .. ;• �• � which shall not be unreasonably withheld. If Barrower fails to 'mai C��an��h par��h�°v e. l.e n d e s m a Y.a t
<br /> - 'o u o n.o b t a i n c o v era ge to pratecc t-ender's righu in the Properry' e eiause. tender
<br /> • le to L e n der a n d s h a U include a scandard mortgag i �o f '1 ��
<br /> p olicies and renewals shall be acceptab �%��
<br /> AQ insurance p P P Y�
<br /> � � � shall have the r�ght to hold the Ppl� in the event f loss.Bonower shall g e promPt ou�o the�nsurance nc.urier and Lender. ;.•�,�.
<br /> _�_ paid premiums and rertewal notices. go�wer.
<br /> , . Lender may make proof of toss if not made pmmpt'nbwriting,insurance procceds shaU be applicd to restotation ar repair of the
<br /> '� . - Unless i.ender and Borrower otherwise agree , _
<br /> •� � Praperty damaSed•if the restoration or repair is economically feasible and l.ender s security o�s shall be app ed to the�sums �. - - • --.`
<br /> _' . repair is not economically feasible or Lender's security would be lessened.the insurance p .`:'��
<br />}`�. � • . secured by this Security Instrument. whether n i���md�nder that the insu nce earrie has offered o etUe aelaim.�then ,,�{ � �
<br /> �
<br /> _; , . . �._ property.or does not answer within 3U days a or to a sums ;
<br /> � � Lender may collect the insurance proceeds• L.ender may use the praceed ry d WP�begin wshen the no ice�s Siven• p y ' _'`� ,
<br /> . , .- s¢cured by this Security Instrument.whether or not then due.The 30�day p_ . .
<br /> a (uation of proceeds to principal shall not extend or
<br /> Unless Lender and Borrower otherwise agree in writing. any PP �i;, ;.�,,
<br /> ' � menu referred to in PasagraPhs 1 and 2 or change the anwant of the payments. If ' `�►�
<br /> -- � ' , � postpone the due date of the monthly pay i�u��policies and proceeds resulnng from � ,�_-�
<br />='�• � . • under paragraPh 2� t1�e Pr°pem'�s�9��red by Lender.Borrower s right to any t , , °
<br />`' � -��, �- � � � � damage to the Froperty prior to the acqu�snion shall pass ta Lender to the extent of the sums secured by this Security Instrument -
<br /> � inuned�ately prior to the acquisition. Borrower's Loan Appli�xtion:Leaseholds. �
<br /> ex '
<br /> � 6.pccnpan¢y,Preservanon.Maintenance and Protection of the Property; . _ . � �
<br />�;.• ' . . ,. Borrower shall oa�py.establish.and use the ocw nythe Property as Borto er�s�princ Pal�*es den ec forsatf IeeaS�on year a er ' , �
<br />_;�,:,� . ' ' this Security Insm�ment and shall cominue to pY .
<br /> the date of occupancy.unless Lender athee tSe o d Borrower'sgwnu�ol. Borrower�shallt not�deso yadi�ehordimpair�the ��' �
<br /> :.�'!�.
<br /> J"�'
<br /> ' ' �� � � e�aating circumstances exist which az bey p gonower shall be in default if uny forfeiture •�, ...:
<br />_�.f j • ' ' . � '. Property. allow the Property to deteriorate. or cammit waste on th� Pro erty. ��
<br /> •- • . � • action or roceeding.whether civil or criminal, is begun that i S�n eTin gr�ume t o��nder's seeurity interest�Bonower may � �+�'�
<br /> . p
<br />=��, .. • ' • ' ' Property or othecwise materially impair the lien created by th�s t3' �r other material _ , r.°.•��
<br /> cure such a defaalz a�d reinstate.as provided in paraSraPh�8•bY causin�the action or proceeding to be dismissed with a ruling
<br /> - �� that. in Lender's good faith determination, precludes forfeiture of the Borrower's intcrest in the Property , .'
<br />��� • �6 ' � ' - impairment of the lien crcated b�ion�y oceu s gavetm erially falsedor•inaccurate inforrmation ar statements t Lender(or Ps led --�., .
<br /> y.T, ; , . . . .s: :�► ;
<br /> Bonower,during the loan applica p
<br />-_,•��-�',•. � . to provide�i�s concemi gaB rmwer�s oceupancy of thetProperty h a p nc pai r de ce.1 Nhis Secu'ty I strument isnan a . . .� �'��
<br />- . � . to, represe ` �
<br /> ' '. '�' leasehold. Sorrower shall comply with all the provisions oP the lease. !f Borrower acqu'ues fee title to the Prapeny, the w S
<br /> r��� ` � leasehold and the fee title shall eot merge unless[.cnder agrees to the ir:eager in writing.
<br /> � If Borrower fails ro perform the covenants and a�rr.ements contained in ti
<br />� ` . ... 7.Psotection of Lender s Rights tn the Property �
<br /> _•.::.' � this Securiry lnstrument,or there�Sfor c.�ondemnaon or orfe ture�or�t enfarce law orregul tgons).then Lende�in3y d and f;:,�' -
<br />�� � , proceeding in bankruptey.probate. r � :
<br /> a for whatever is necessarY to protect the value of the Property and Lender s rights in the Propeny• Lendei s actions may
<br />�� '; y y earin� in wurt. PaY�nS . : ��
<br /> �.�G;'_,�•� . ' � ' ' �n e l u d e p a y i n g a n y s u m s secured b y :s lien which has priorit over this Securit lnstrument, app • A.�
<br /> �_ �, , _ _ _ . reasonuble attomeys'fees and entcrin�on the Property to m a k c r e p a i r s.A l t h o u g h L e n d e r m a y take action under this par�grap '
<br /> : #�.
<br />:•� ���: . � • � 7.Lender does not have[o do so. �,t: �.;
<br />_ . � , pny amounts disbursed by l.ender under this paragrapfi 7 sh�11 become additional debt of Borrower secureJ by this I •i:!
<br /> • � • Security Instrument.Unless Banowcr and l.ender agree t�ole th,e'h��restp upon nothceefr m I.Qnder�t bBorrowe�st questing �-�
<br /> � , ,i ,
<br /> �.'#. : �t .__,.. : �. � date of disbutsement at the Note rate and shali e pay �
<br /> . payment. � . ;.t
<br /> �..:�:. g��,qQKp,age�nsura�tce.If Lender required mortgage insnrance as a cundition of making the toan secured by this 5ecurity
<br /> , ' 6 . . Instmment. Borrower shall pay the P���der�laps�or ceases t°beein effe$c t Burrower shall pay the p emi ms re.quired to ( :. '`
<br /> mortgage insurance coveraFe required y �
<br /> � .. " " � � obtain caverage substanti�lly aquivalent to the mortgage insurance previously in effect,at a cost substantially equivalent to the �
<br /> ��•
<br /> �� , _ .'. . cost to Bonawer of the mnrtFage insurance previuus{y in effect, fram an altcrnate mortgage insurer appraved by Lender. lf
<br /> �:. l -__ -�
<br /> _�.,. �
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<br /> • < .. . � vaao�g+4 form 3028 9I90 ` t ;
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