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<br /> r � .�T�e Funds'shall 6e held i�an ens�itution whose degasits are insured by'a federat agency, insttum�ntality. or eutity -
<br /> ,i :•'-� _�;-,Tr {iaclud"eng Lender.if Lender is sust�an institutitln)or in any Fe�era!Rotee Loan Baz�k.Leader stmli spply die Funds to pay the. � —
<br /> �-�,.�._ �,,_ Escmw�t�ems..I.�der mmy aoi ci�arge Earrower for 1}tilding aad apglying the Funds,ars►ually anatyang the esdraw.acoaunt,or �- ~ v-�--
<br /> � � veriiyin�the Esscanr Items,unless Lender pays.BorraQ+er.iaterest on tbe Funds and ap liea6le law pernuts i�ender to make suc� � � �
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<br /> a"'�`£�2 �. =� � a charge:However.Lender m�y�requite Bomawer to PaY a one-time charge for an in ent�1 estate tax reportin$service �^'° ---
<br /> ti -�. 'a'� �
<br /> . `x� � `used by Lenda in coan�caon with this [oaa, unless applirabie l��v pravides otherwise. Unless an u�roement is made or . �a E�,u.�„.".�..-
<br /> ? applica62e 1aw reqaires iat�rest to be gaid.I.ender shalt not be requi�ed to pay Soriower any interest or eamin�s on the F�s. --� �� �
<br /> �:'.'�, . .�' Bortoner and t ender ina}r agree in v+rit�ng.however,tUaC inte�st shalt be�aid on the Funds. I.eader shall t;ive to Borrower. �f,���"` y��^
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<br /> ��-, witItoui chatge.an aant�al mocouating o€the Funds.sho�ving csedits and debits w the Funds and the p�rgose for which each . `�� �'_
<br /> detrit to the Fnttds��as rtmdc.'I�e Fuads ate pledged as additional securiiy for a!1 sums secared by[his Sec�lrity Insttument. ...;r�..: :,-?°_.
<br /> •g ,. � . If the Funds 6eld by Lender exceed the amouuts permiaed to be held by npplirable law.Lender shall acoount�to Borrower , .;� � .
<br /> �' � for the eacess�uads in acoordance with the requm?etnEnts of appiicabte taw. If ihe amouat of the Funds hefd 6y Leader at aay ; ,,':F.f :', �<,`
<br /> -.'_. . ._�.... time is not suScient to pay the Fscrow Items when due,Lemier may so narity BorrowerYn writing.and,in such rase @orrower � ' '` "
<br /> : sLall pay to Lender the amduat necessaityr to matce ug the deficiency.Sorrower shalt make�ap the d�fcc�eacyr in no mnre than ' �-. .
<br /> `'.` tarelve montWy paym�nts,at Leudet's sote discretion. ' . . -
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<br /> . . � LTpon payment in fall of al}sums secur�by t6is Security Instrument. Lender shall Qrompt�y refund w Earrower any � .
<br /> � Funds held by Lender.If,tu�der par�'aph 21.I.eader s3�aLt acquire or sell tfie Prop�rry.Lender.pridr to the ac�uisitio»or sale � . . _ , . :�.;
<br /> _ � ,,.,> :� of the Property..shall aPPtY any Fuads held by Lender at the time of acquisition or sale as a credit against the sums secured by ;�: . �:��:.•.- --�'-
<br /> . •, this SecmiYy Instrament. `"�`,°,` . . ;��_�'� :
<br /> • V � • 3.ApplicatEon ot Fayntenis.Unless applicable law pnbvides othervvise.ail payments received by Lender under paragraphs .: .-.
<br /> ' .� 1 and 2 shalt 6e app1ied:fust.to anY P�Y�nt charges du2 under the Note;seoond,to amoun�s payable uader paragsaph 2: , • �::'=��'�.�" ,.
<br /> . . third,w iaterest dne:iaurth,to Principal due;and iast;'w anj�7ate chazges due under the Note. . ,:�.�:�� - ,:.
<br /> r , ,. 4.Charges;t�eos.Bomnwer shall pay ali taxes:assessatanu,chaTBes,t'ines and impositions attributable w ihe Praperty . � �y- --•
<br /> whioh may attain priority over this Security Insuumen� and lease�otd paymeais or ground rents, if any.Bortower shall pay . ' �:'''�-"'%-
<br /> ,, thes�obligations jn the mammer pmvided in paragiaph 2,or if not paid in that manner.Borrower shall pay them on time directiy - • '`'`�'� r'
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<br /> � � to the peison oaed payment.Borrower s�all.PmmptlY fumish to Lender all notices of ainounts to be paid under this paragraph. .:��'���.�'
<br /> II �:�
<br /> . If$orrower makes these payme�s directly,Bormwer shall promptly fumish to Lender receipts evidencing the payarenu. , -
<br /> � Eorrower shall promptly d+c�ha roe any lien which has priority over this Searity Insuameat antess Boriower.(a).s�grees in �' ,i�, s :,
<br /> � � � writiag t�r the payment of the o6ligation secured by the lien in a manner acceptable to Lender,(b)ooniests in good faitl�the liea� ,. ; • -•,�,:
<br />-.:'.�---"-,-. _ - by.or defen�s against enfarcement of the lien in. legal proceedings ar6ish in thc I.ender s opinion operate to prevent the . • _
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<br /> =� �------����--enforcemenrof the lien;or{c)-s�-from-the-holder-of�thhe-lienan.agreemeatsatisfacto.ry_to_I.endex.�ubQrdit�ng the.lien to.____ �
<br /> . ' this Security Iastntment. If Lender detemunes t�at any part of the Property is subj�t tfl a lien which may attain priority over - ---���-�-� � �-'�`-..
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<br /> ' � ` � � this S�ecucity Inswment. Lender may give Borrower a uorice ideatifyiag the lien.Borrower shall satisfy the lien or take ane or . �,�-
<br /> . • more of the aarons set forth above within 10 days of t6e giving of notice. , � �°'� "
<br /> ; _;_;; �•. . ."., . S. �rd or Fcoperty Inssnanee. Borrower s6all k the im rovements now e�isting or hereafter erected on the y _
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<br /> • � Property inswwi against loss by fire. har�rds inclnded_�vithin the term�exteaded coverage"and any other hazards.ir�ciuding . . . J
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<br /> . � � flaod�or Aooding,for which Lender requires insumnce.This insurance shall be maintained i n t i�e a m o u n t s a n d f o T t i i e peii o d s --_- � •"���
<br /> `" � � that LeaGer.re�uires.The insutance ca�rier providin�che iasurance shall be chosen by Borrower subject to Lender s npproval ' "�
<br /> . � . which shall not be unreasonabty withhetd. If Borrower fails to maintain coverage descti6ed above, Lender may, at I.erder s
<br /> , . . opdon.obtain coverage to protect Lender's rights in the Property in aocordance with ParagraPh 7. • .. �•F
<br /> ' • All insurance Qolicies�nd renewals shall be acceptable to Lender and shall include a standard mnrtgage ctause. Lender ......
<br /> • ' �.� shali have the right w hold the policies and renewals. If I.ender requires.Borrawer shall promptiy give to Lender all reveipts of � �.�
<br /> • � paid premiums and rene�val notices.In the event of loss,Borrower shall give prompt natice to the insurance carrier and Leadet. : •,,�.t:i'..
<br /> ' Lender may make proof of loss if not made pmmpdy by Borrower. • , � �•
<br /> � � � LTnless Leader amt I3orrower otherwise agee in tvriting,insurance proceetls shall be applied to restot�son or repair of the _ ,;;. ;��,�
<br /> � property dama�ed.if the restoiation or�pair is econoaucally feasible and Lender's security is not le�sened.If th�restoration or _ _ '•
<br /> � repair is not economicalty feasbte or Lender s security would be Iessaned,the insurance proceeds shall be applied to the sum5 � __ . � ��
<br /> �• secured by this Security Insuument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the . _ .
<br /> ' .' � Propesty.or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settte a claim,then "•--
<br /> � Lender m�y collect the iruurance prnceeds. Lender may use the proceeds to nepair or restore the Prop�ry or to pay sums ``:��
<br /> ` ' • secured by this 5ecurity Instrument.whether or not then due.The 30�day period will begin when the norice�s given. ,����'
<br /> ., Unless Lender and Bonocver otherwise agree in wriring: any application of proce�ds to principal shall nat extend or .
<br /> � ' � � postpone the due date of the manthly payments referred to in paragraphs 1 and 2 or change the amount of the payments- If • , ,
<br /> . � � under paragraph 21 the Pmperty is acquired by Lertder. Borrower s right to any insutance palicies and praceeds resulting from
<br /> � � . ', damage to the Property prior to the acquisition shall pass to Leader to the extent of the surns secured by this Security Instrument ... �
<br /> . . .. immc�diatety pnor to the acqu�s�non. . , '':.
<br /> •• 6,pocupancy,Preservation,Mafntenaase and Protedton of the Property;Borro�ver's Loun Appucation;l.easehotdv. � . . .
<br /> Borrower shall occupy.establish.and use the Property as Borrower's principa!residence within siaty days after the execution of i . ' -. .� � --
<br /> � • � � this Security Insttument and shall cominue to occupy the.Property as Bonower's principa!residence for at least one year after . �
<br /> " ' the date of oocupancy.unless Lender othenvise agrers in writing.which consent shall not be unreasonably withheld,or unless . . .
<br /> • extenuating circumstances exist which are beyond Borrower s control. Borrowei shall not destroy:damage or impair the •
<br /> • � Property. allow the Property to deteriorste,or commit waste on the Property. Borrower shall be in default if any forfeiture .. . .
<br />- • � � action or proceedin�.whether civi!or.criminal.is begun that in Lender's gaod faith judgment could result in forfeiture of the �
<br /> � � Property or otherwise materially impair the lien created by this Security Inswment ar i.ender's security interest.Borrower may
<br /> core such a default and r�eiastate.as provided in paragraph 18,by causing the action or proceeding to be dismissed with a ruling
<br /> � . that, in L�nder's good faith determination. precludes forfeiture of the Borrower's interest in the Ptopertv ar other material . ,�
<br /> imyaitment of the lien created by this Security Instrument or Lender s security interest. Borrower shall also be in default if
<br /> �' Borrower.during the loan application process.gave materially false or inaccurate�nformation or statemenu to Lcnder(or failed � •
<br /> �� ' to pmvide Lender with arry material information)in connection with the loan evidenced by the Note.including,but not limited
<br />- � to.represeatations concermng Barrower's occupancy of the Propeny as a prineipal resideace.lf this Security instrument is on a � . .
<br /> ' leasehold. Bomower shall'compiy with all the provision4 of the lease. If Borrawer acquires fee title to the Property, thc �
<br /> tease�old aad the fee tide shall not merge unless Lender agrees to the merger in writing. f . •
<br /> � � 7.Protecteon oF Lendev's Rigbts in the Pmperiy.If Borro�ver fails to perform the covenants and agrcements contained in � �
<br /> • � this Searity Insuumens,or there is a legal proceeding that may signifcanily affect Lendet's rights in the Property(such as a � .
<br /> - � . proceeding in baakruptcy.ptobate.for condemnation or forfeiture or to enfome laws or regulations).then Lender m�y do and , :
<br /> . pay for whatever is necessary to ptotect the value of the Property and Lender's righu in the Pcoperty. Leader's actions may
<br /> � , , inctude paying arry sums secured by a lien which has prionty over this Securiry Inswmznt. appeasiog in coun, paying : .
<br /> � � reasonab2e attor�neys'fees and entering on the Property to cnake rep�irs.Although Lender may take acuon under this paragraph � •
<br /> • � 7,Leader does not havE to do so. � � •
<br /> - ' � � ' . Any arno�ats disbnrsed by Lender undet this paragraph 7 shall become additional de6E pf Horrower secured by this � . • �
<br /> ' • � Securiry lnsuument. Unless Bomnwer and Lender agree ro ather ter.ns of payment,these amounts shall bear interest fmm the � �
<br /> ' • date of disbursyment at the Not�rate and shall be payable. �vith interest, upon nutice ftom lxnder to Sorrower reyucsting � •
<br /> � . � • payment. . �
<br /> 8.Mo�age�*��+**An�.Lf Lender requlred mortgage�s�surance as a wnditioa of making the to�n secured by�his Security �
<br /> � � [nstmment, Borcower shaU pay tt� preminms r�quired to maintain tha mortgage insuraace ro effect. If, for arry rcason, the ( �
<br /> � iwrtgage ins�rattce covetage required by Lcnder.tapses ot ceases to be in effect.Borrower shall pay the pmmiums required to .
<br /> "�` •• obtain ooverage substaniialty equivatent to the mortgage insurance previously in effect.at a cost substantially equicalent to the
<br /> cost to Borrower of the mortgage insurartce previonsly in effect. from.an altemate mortgage insurcr approved by Lender. If ! .�
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<br /> � . . . ' ., • v�2otn Form3028 919U ' .'---
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