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<br /> Thc Funds .riiull hc held in un imtitutiun whnse drQo,its arc in+ured by a fcderulaugenry. imtrumentatity, nr entUy �' -"-- �- -- �
<br /> (including lA nJcr, if Lcndc�iz.uch un in+titutionl ar in uny Fcdcral H��mc L.oan Bunk.Lcndcr�hull upply thc Funds t��pay thc
<br /> . N+crnw Itcm+. lAn�cr nwy nut chiirNr Rorri,wcr liir holdin�;und upptying thc Fund�. unnuatly anulyiin�thc r+cr��w urcount.ur
<br /> vcrilying Ux lsuru�v Itcm+, unlc,.LcnJcr pay+Burruwcr intcrcrt on thc Fund,und,���n►.�ni� law permit,l.�ndcr to u�d.e�urh �
<br /> a rharbc. Hu�•cvcr, lAiiQcr may nquirc Rurrowcr to p.�y u unc•timc rhargc fi�r un indepcndcnt r�al r�tatc iuz r��x�rti�g+crvicr
<br /> u,cd by I.ciielcr i�� runnrrtiun H•itli thi, loan. uulcyti appliruhlc luw pn►vidcs �,thcnvi,a Unlctiti an u�;rccment i� mudr ��r ��
<br /> uppliruhlc luw rcquirc� intcrctit tu hc puid.lxndrr+hall not hc rryuircd to pay Barruwcr any i�itcrcYt iir curning4 un thc Funds.
<br /> Hurrower:md I.cnacr muy ugrce in wnting, huwcvcr. thut interest tihull bc pui.l �,n the Fund,. l.cndcr shull givc to Burr.,wer. �
<br /> witlu�ut chnr�c,nn unnuul ucmunting��f thc FunJs,showing cr�:dit+und dchit� to thc Fundti +md thc (�urpo,c fiir which cach � ,
<br /> dchit tu thc f�unJr wu+�uadc.Th�Funds urc plcd�ui u+ udditiunul���curity tiir al l tiutm scrured by thi,Scrurity Imtrunxnt.
<br /> (f lhc Fuixls hcid by l.cndcr cxrccd thc umuuntti(�crn�itted tu ix licid hy uppi�cubtc tuw. l.cndcr.huU tircuunt tu &n-ruw�r
<br /> ' ' ' ti�r thr cxccsti Funds in urc��rduncc with thc rcquiremcnts of uppiicuhlc luw. If thc a►mount nf thc Funds hcld By I.endcr ut uny
<br /> ° time is nut.uCficicnt tu puy the F.scruw ltem+�vhen du�,l.ender nury,o notify Barrower in�vriting,und, in such case&�rrowrr
<br /> tihutl pay tn Lcndcr ihc umuunt ncccr+ury to mukc up thc dcficicncy. Borru�vcr,huU mukc up thc detiricncy in ni� m��rc thun �
<br /> twclvc munth ly paymcnt.,ut Lcndcr'ti�olc di�cretion. „
<br /> Upon puyme�u in fuQ of ull �umti sccured by this Security lnstrument, l.endcr tihuil prompdy mfund to Borro�ver uny
<br />� . Funds held by I.endcr. If,undcr parugruph 21,Lender shall ucquire or,eil the Praperty,l.endcr. �rior to the acquisition��r sulc ,
<br /> of thc Property,shull upply uny Funds hcld by l.endcr at thc timc of ucqui�itinn or sulc us u crcdtt against thc sum�ticcurc�J by
<br /> this Securiry instrument. .
<br /> 3.ApplicaHon of Peyments.Unless upplicuble luw provides otherwise,aU paymencs received by L.erder under pam�raphs
<br /> - ' 1 and 2 shall be applied: fint,to uny prepayment chur�eti due under the Nate: second,to amounts pa�•able under pur�gruph 2:
<br /> third,to intereu due:fourth,to prinripal due;und latit, to any late charges duc undcr thc Note. '
<br /> � 4.Chprges; Liens.Borrawer shull pay all ta�ces, asscssmcnts,chat�es,fines and impositions attributuble to the Property
<br /> " which may attain priorlty over this Security instrument, and leusehald payments or ground rents, if any. Borrower shnll pay
<br /> these ubl igatiom in the manner pmvided in paragraph 2,or if not paid in that manncr.8orrower shall puy them on timc direcily •
<br /> to the person awed payment. Rorrc►wer chaU promptly furnish to Lender ali notices of amounts to bc puid under this parngruph.
<br /> � lf Barrowcr rnakcs these payments directly.Bnrrower shall pramptly furnish to L.ender reccipts evidencing the puyments. -
<br /> • Borrower shap promptly discharge any lie�i which hati pnority over this Security Instrumenc untess tiorrawer:tal agrees in .
<br /> � ,s wrlting tu the payment of the obligution secured by the lien in u manner ucceptuble to Lender; !b)contests in gocxi fuith the lien
<br /> by, or defends ngainst cnfarcement of the lien in, legal proccedings which in the Lender's apinion operate to pmvent thc •� . �
<br /> � • enforcement af che lien;ur(c)secures from the holder of the lien un a�reement satisfactory to L.ender subordinuting the lien tu
<br /> this Security Instrument. If L.ender determines that any purt of the Property is subject to a lien which may attain priority over � ;s..,3`�-
<br /> this Security Instrument. Lender may give Borrower a notice identifying the lien.Bottower shull satisfy the lien or t�lce ane or
<br /> more of the actions set forth above within 10 days of the giving of notice. '"� -
<br /> „ � , g. Hazard or Prnperty lnsurance. Borrower shaU kcep the improvements naw existing or hereufter erectcd on the f,��{�� .
<br /> _ ' Property insured against loss by fire, hazards included N�ithin the term "extended covernge" and any other haznrds, including , �
<br /> ' floods or flooding,for which Lender requires insurance.This insurance shall be maintuined in the amounts and for the periods •
<br /> : -:- ihat t,cnder requires.The is�uranc�carrier �+rov{�tng �he incurnnce shall be chosen by Borcowcr subiect to I.endcr's approval . �; �
<br /> �� , which shall �not be unreasonably withheld. If Bonower fails to maintain coverage described above, Lender rnay. �t[.ender's ; -
<br /> option,obtae n coverage to protect Lender's rights in the Property in accordance with paragraph 7. "�,;; '
<br /> '� All insuronce policies and renewals shall be acceptable ro Lender and shall include a standard mortgage clause. [.ender • -�. . ; '
<br /> ' sh�ll have the right to hold the policies anJ renewals. If Lcnder requires.Barrower shap promptly give to Lender alt recei�ts of ?�f �t
<br /> pnid premiums and renewul tx�ti¢es. Tn the event of loss.Borrower shall give prampt notice to tho tnsuritnce carrier and Lender. • ,'�: „ � ;
<br /> L.ender may rn�ke proof of loss if not made promptly by Borrower. � ��� ,
<br /> Unless Ixnder su�d Barrower othe,rwise ngree iu wdting.Insurance praceeds shall be applie�l to restoration or repair of the �
<br /> Property dama�ed.if the restoration or repair is econamically feaisible a�d Lender's securlty is not lessenai.If the restaration or �tir� :
<br /> • . repair is not economIcally feasible or Lender's security wuuld be lessenecl.the insurance proceeds shAll be applted to the sums ;_
<br /> „ scxured by rhis Security lnstn�ment, whethsr or not then due. with any excess paid to Bonower. If I3onower abandons ihe x
<br /> •� Pmperty,or does not answer within 30 duys a notice from I.ender that the insurance carrier has offered to settle a clam,then . �- '
<br />- ' � , , Lender may collect the insurance proceeds. Lender muy use the proceeds to repair or restore the Property or to pay sums ,� �,-
<br /> ° „ . secured by this Security Instcument. whether or not then due.The 30-day pedod will begin when the not[ce is given. '�"' �`'-�
<br /> • .. Unless Lender uid Borrower otherwise ugree in writing, any application of procceds to Principal shall not extend or' .� '
<br /> postpone the due dnte of the monthly payments referred to in paregraphs t und 2 or change the amount of the payments. If ° --�,�,;;
<br /> • '' under paragrnph 2l the Property is acquired by Lender.Barrower's right to any insurance policies end proceeds resulting Crom , ,
<br /> `-�' • i damage to the Property prior to the acquisition shall pass to Lender to the eatene of the sums secured hy d►is Security Instcument -� � '_
<br /> �.�+� ,w, immediauly pnor t�the acquisltion. "�'°"-"'``
<br /> •• ,� 6.Occupancy,Pneservation,Maintenance and Protectlo�of the Property;Borrower's I.oan ApplicaUon;I.easeholds.
<br /> - Borrower shall occupy.esusblish,nnd use the Propeny as Borrower's principal residence within sixry days after the execution of ''r'T"°""
<br /> this Security I�trument und shall continue to occupy the Yroperty us Borrower's principul residence for at least one year after �� �'►"' �
<br /> --�•� - -� =-� the date of acntp�ncy, unle�c T,ender otherwise aFrees in writin�,which consent shall not be unmasonably withheld,or unless ' �� �-
<br /> �t�
<br /> ° '°� extenuuting circ��mstances exist which ac+e beyond Borrower's contrul. $orrower shall not destroy. dama�e or impair �he ��' `�• ��'��`
<br />= Property,allow thc Property tu deteriorate,or commit waste on th� Property. Borrower shall be in default if any forfeiture �`
<br /> uction or proceeciing, whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeiwre uf the . ��
<br /> _ � � Property or atierwise muterially impair the lien cmuted by thic Security Instrument or Lender's security interest. Borrower muy �
<br /> rure such a default and reinstate,as provided in pamgraph 18,by cuusin�the action or proceedin�to be dismia,ed with a ruling "„
<br /> that. in Lendcr's good faith determination, precludes forfeiture uf the Borrower's interest in the Pmperty or otiier muterial •
<br /> - ' " ' ' impairment of the lien created by this 5ecuriry Instcument or Lender's security interest. Bonower shull Also be in default if
<br /> 4` ; Borrower,during the loan application process,gave materiaUy fatse or inaccurate mformation or stutements to Lender(or failed ,
<br /> � to provide Lender with any material infurmution)in connection with the loan evidenced by the Note, including,but not limited
<br />�-,�� to,represenwtions mncerning Borrower'�occupuncy of the Property as u principal residence. If this 3ecuriry Instrument is on a
<br /> - lcasehold, 13orrower s1�aU minply with ull the provisions of the lense. if Borrower acyuires fec ti�lc to the Property, the
<br />_� � Icasehotd and the fce title shall not mer�c unlcss Lcnder agrces to the merger in writing.
<br /> 7. Protectton of Lender's Rtghts in the Property.If Botrawer fails to perform the covenants and ugreements contained in
<br />'' this Security Instrument,or there is a Icgal pn�ceeding that may significanQy affect Lendcr's ri�hts in the Property l+uch us u
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<br /> , proceeding in bunkruptcy, probate, for condemnation or forFeitum c>r to cnforcc lawx or rcgu{atiuns), then Le:ndcr may do and
<br /> � pay for whatever i+nccessury to pmtect the value of'the Pmperty and Lender's rights in the Property. Lender'ti uctiuns may
<br /> � , includc paying any sums �ecured b�• a lien^vhich has priority over this Security Instruenent, appearing in rourt, paying
<br /> . .. .- ' --'-�•' -'--e— •�.w.......G i.....t...».....�..L.,....�:.........tn►�hi.nsan�oramh =• - ----- ---�---
<br /> ._ -_ - - masona��c auumc ti tcc�anu rmrnn' UII lI1C fI0 �a a� ��w�.: �� a..�. .,�.��.... ......,.,.. .....
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<br />-i 7.Lendcr docs not huvc tu d��,u.
<br /> ' ' Any :�mounts disburs��i by l.ender under thiti paragraph 7 ,hull bc�omc additional debt of Bomn�•er ��tiun�f by th�.
<br /> �, � Security Instrument. Unlexs Born�wcr anJ I.rndcr aLenr tu other terms uf payment,thesc umounts shall bear imere+t fmm the
<br /> » . date of disbunement at the Nutc ratc and .hatl bc payrblc. with irnere�t, u�um nutire from Lendcr t�� Born��vrr rcyucstin�
<br /> � , payment.
<br /> �;, ' 8.biurtgu�e Insurunce. If Lcndcr n.�yuircci nx�rtgagc in>uran�ti as u amditi��n uf mukin�thc luuu>�tiu�rJ by thi.Sctiurity
<br /> �r Inst►vment, &�rrower xhaU pay thr premiunn nyuireJ tu maintuin thc nwrtgagc imurancc m rffcrt. It', ti�r miy rca��m, thr
<br /> mortga�c insursncc�Yn�cragc Rquired by [.cndcr lap�c��u�wses to bc in cff'�tit. &�rn»vcr �hxll pay thc pRmium.reyuimd ta
<br />:j ., � . ubtuin covc;rage +ubstuntiupy cyuivulcnt t��thc m��rt�agc in�uranrc prcviuu�ly in ct'f�tit, at s ru.t wb.tantialty�ti{uivalcnt tu thr °
<br /> .� � �„ co�t to 8nrrower of the mortKagc imurun�t� previuu+ty in effrct, fr�im an altrrn.UC nwrtNuge imur�r appmv�tii by Lender. If
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