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<br /> Tt�c FunJti ,hall bc hcld in an intititudun a�ha,r Jep��sitti arr imured by u fcdcral agcnry. in�►rumcntality. ��r cntily� -... .. ....^ .,"' '
<br /> (inrluJin�I.ender.if I.cndct is.ttch an in+titutiunl ar in any rcdrral Humr L.��.►n Bunl�. Lender�hull apply the Fund.tu p•ry th� „
<br /> . E•rrow U�mti. Lcnder m��y nnt rh:ugr Bur�•nu•rr ti�r holdin� and upplying thc FunJ..aimually an:llyiing thr c.�ro�v:►rr��unt. a(J1
<br /> �•�rifying 11ic F,cro�e Itcui+.unlc�� I.cniicr puy.Hurr���c�r intrr.+t un thc Fund, :ind appliraMc iaw prrmit• l.rndcr tu makr+urh�
<br /> ' . I u rNar�:c. H�n�evrr. l.endcr muy rcquire 13��rruwer tu pay a�►nr-um�charge ti�r an iadependent real rytute tax ��purtiug rervice
<br /> u,�d by lAndcr tn rumt�:runn w ith th't+ luan. unlc+ti :tpplicublr luw pru��tdcti athcn+'iu. Unle.� an agrcc�ncnt i� ntudc o�i
<br /> applirublc taw rcyuirc,intrmtit tn bc paid. IAndcr.I�all nnt h�myuirrd tu p.ry Burrc�wer uny intcrc+t ur carnin�!,un th�Fund..0
<br /> H�►rcu�ti�cr and Lrndcr m:ry agrrc�n�vnting. h��wrv�r. th.0 i�n�r�;+t+hall hc paid un thc FunJ�. [.rndcr+h.ill �;ivc ta Burruwrr�
<br /> without ch.�r�c. an arn�ual uc�auntin�; ul'thc Fand,. rh�►H•in�ercJitti anJ debit, tu thc Fund, and thc pucpu+c liir which cur�
<br /> ' debit to thc E=und����u�mudc. Thc Fund,arr plydgrJ a+additiunal xcruriry fiir ull,um�,ccund hy thi,Srcunty Instrumcnt.
<br /> • tf'the l�unJti hetd hJ lander czcecd thr amnimts prtmitted to b� hrlet hy applir�tMe I;ttv. (.ender.hall .�cc�ntnl t�+F3��rrawe-��•,
<br /> tiir thc exce�s FunJs in accoralan�c�vith tl�r requirement�af upplirable la�v. lf the amoum uf thr Fund�hcld hy L.end��r ut uny •-
<br /> : timc i.nat tiuffiricnt to puy thc Escmw hcniti when duc. t.cndcr urry tiu nutify Burcawcr in writing. and.in�uch ca+c Sorrowcr ,
<br /> „ �hull p•ry ta Len:ler the ami�unt necestiary to make up ihr dcticienry. Bi�rruwcr +hall make up the defiriency in no aiarr than �
<br /> � twclvc monthly paymcm�, :�t l.�ndcr'++��Ic discreti�>n.
<br /> Upm payment in fuU��f all +wm �crured by thiti Scrurity In+trumcnt. I.cndcr ,hall prumpNy rcfund to Borruwcr uny
<br /> . FunJ.r held by I.�nde!',If, uncier purugr.�ph 21, l.ender yhall ucyuire or�ell the Property.Lender.prior tc�the ucyui.itiim or sule
<br /> c�f the Property. ,h•rl! app!y any Funds hcld by l.endrr ut the time uf acquisition or s,dc ati a credit uguinst the xum+.ecur�Yt hy
<br /> . this Securiry In.rtrument.
<br /> 3.Applicution i►t PAymeniti. Un(ctis applicable law pravides othenvise,aU payments received by L.ender ueaier paragraphs
<br /> 1 und 2 shull be appli��J: fr.ct.io uny prepayment charges duc under the Note: +econd, ro:miounts payable under paragr.�ph ?:
<br /> � third,tu interest due: fi+urth.to principal Jae:and lust,to any latc churges duc under the Note.
<br /> • 4.Churgeti:Liene. Burrower shall pay all tuxcs,asse�sments,chauges. Gnrs und impositians attributablc to the Pr�perty
<br /> which may uttuin priurity ov�r this Seruriry [mtrument, and lca.tiehold payments or�raund rents, if uny. Borrower shall p�y
<br /> the,e o6ligatiam in the munner pruvided in paragcaph 2, or if nat paid in that manner, Borrower sh�ll pay them on time directly � ,
<br /> m thc penun uwc�l puymrnt. Burruwer,huU pivmptly furnish to Lender ult noticcs of amounts to be paid ander this par.�graph. �� - •
<br /> If Bor�awer makes th��c p:►ymcnts directly,Bunower xhaQ promptly furnish to L.ender receipts evidencing the payments.
<br /> Borrower shall promptly Ji,chargc any lien�vhich has priority over this Securiry Instrument unless Borrower. tn)agrees in " '
<br /> writiog to the paymcnt oF thc obli�ation,ccured by thc lien in a manner acccptablc to l.ender:!b)contests in good faith the lien "� ��
<br /> by. or defends aguinst enfi�rccment of thc licn in. Iegal proceeciings which in the Lender's opinion operate to prevent the _
<br /> enforcement of the licn;or(c>urums t'rom thc holder of the lien an agreement sutisfactory to I.ender subordinating thc iien ta �
<br /> ' this Securiry Instrument. [f Lender determines that any part of the Property is subject to a lien which may uttain priority over ,f�c._
<br /> ° this Security In+trument. L.endcr muy give Borrower�notice identifying the lien.Bormwer shall satisfy the lien or tAke one or . .•�•
<br /> - more of the acdons set farth Above within IU days of the giving of notice. ,;�� ,:
<br /> . � 5, Hnzard or Property Insurance. Borrowcr shall kcep the iniprovemen�s now existing or hemaftcr erected on the , ' r�—
<br /> • Property insured against loss by fire, hazards included within the tenn"extendcd coverage"und uny other hazards. including �,;"a��'i
<br /> floads or flooding, for which I.ender reyuires insurunce. This insurance shall be maintained in the amounts and for the periads �+�' �
<br /> ° that Lender mquims. Th� insurance currier providing the insurnnce shall be chosen by Bonower subject to L.ender's approvul ' � �.,� ;
<br /> ��' which shaii not be unmason�3bly wichhetd. Ii Borruwcr iail� tu u�uiutui„�vra�ubc Sr�crib� abav�, i.�.ndcr rnay, at Lcndcr's �!'�
<br />__ option,obtain covera�e to protecc Lender's rights in the Property in ucrordance with parngraph 7. ��� � ' ;
<br /> • All insurnnce policies and renewals shall be acceptable to Lender and shall include u standard mortg�ge clause. i.ender _ •
<br /> � shall have the right to hold the�olicies and renewuls.If Lender requires,Borrower shull promptly gtve to L.ender al!receipts af "'�} ,
<br /> • • paid premiums and renewal nonces.In the event of loss, Borrower shatl give prompt notice to the insurance carrier and Lender. ;:,� {�
<br /> ' Lender may make proaf of loss if not made promptly by Borrower. �:''+i:7: ,��'� ;s,
<br /> Unless Lcndcr and Borrowcr otherwise agree in wnting,insurance proceeds shall be applied to nstorat ion or reps+ir o f t he � �
<br /> -. ' Property datrwged,if the restoration or repair is economicnlly fcasible und I.ender's security is not lessened. If the restoration or `; � �
<br /> repair is not economirally feasible or Lender's security would be Iessened, the insurance praceeds shall bc appl3ed to the sums ,'
<br /> , secured by this Securiry Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the •
<br /> : " . Property,or does not answer within 30 days a notice from Lender thut the tnsucance carrier has offered to settle a claim,then - � ��,
<br /> , �• Lender may collect the insurance proceeds. Lender may use the proceeds to rcPair ar eestore the Property or to pay sums ' "'Y' ' --°-
<br /> � secured by this Security Instrument,whether or not then due. The 30-duy period w�ll be�in when the notice is�iven. ��� T_.
<br /> � Unless Lender pnd Borrower othenvise agree in w�tting, any npplication of prceeeds to principul shall not extend or . .. ����—
<br /> postpone the due date of the monthly paymcnts referred to in paragruphs 1 and 2 or changc the umount of the payments. If .
<br /> -� under paragraph 21 thc Propecty is acquired by L.ender. Borc�wer's right to any insurance policies and procceds resutting from
<br /> ., dama�e to the Property prior to the acyuisition shall pass to I.ender to the extent of the sums secured by thts Security instrumant °• " :
<br /> immediately prior to the acquisition. ° ;".:k_
<br /> _ 6.Occupancy,Pr�servatlon,Maintenance and Protection of the Property;Borrower's Loan Application;Leaseholds. "� '
<br /> "' . Dorrower shall occupy,establish, and use the Property us Borrower's principal residence within sixry duys after the execution of �"���'�
<br /> ` „ � this Security Instrument and shull continue to occupy the Property as Bonower's principal msidence for ut Ie:tst une year aRer ' �'
<br /> the date of occupancy,unless Lender otherwise agrces in writing. which consent shall not be unreasonably withheld,or unles� ' �'
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<br /> „ extenuating circumstunces exist which are beyond Bormwer's control. Horro�ver shali not destroy, damage or impair thc ���=�
<br /> .��'.'. �'roperty.allow the Property to deterioratc. or commit wastc on the Property. Bonower shall be in default if any forfeiture „ '''�
<br /> action or proceeding.whether civil or criminal, is begun that in Lender's gnod faith judgment could result in forfeiture of tlie , ,
<br /> - , " Property or otherwise materiaQy impuir the lien crcated by this Security Instrument or Lender's security interest.Borrower may ,
<br />-:. � . cure such a default and reinstate,:�s provided in parngraph 18,by causing the action or proceeding to be dismissed with a ruling „ '
<br />;__ thut, in Lender's good faith determination, precludcs fodciture of the Borrower's interest in the Property or other material
<br />- impairment af thc lien created by this Security Instrument or L.ender's secm•ity interest. Borrower shull also be in default if •
<br />--��� Borrower,during the loan application process,gave materially fal�e or inaccurate information or statements to Lender(or fuiled ;
<br />-:c � to provide L.ender with any muterial informution)in connection with the loun evidenced by the Note, including,but not limtted . ,
<br />- r to,repmsentutions nmcerning Borrower's accupancy of the Property us a principal residence. If this Security Instrument is on a
<br />_fi>• , ' leasehold, Borrower shull comply with all the provisiom c�f the leuce. If Bnrrower acquires fee title to the Propeny, the -
<br />_ : leasehold and the fee title shull nc►t merge unless L.cnder agmes to the merger in writin�. „
<br />=_k: ' 7.Protecttan of Lender's Ri�hts in the Prope��ty. If Borrower fails to pertorm the covenunts and agreements contuined in • _
<br />- this Security Instrument, or t6ere is a legal proreeding that may significandy affect Lender's rights in the Property (such as a � ,
<br />° �� proceeding in bankruptcy. probate,for condemnation or forfeiture ur to enfone laws or regulations>, then Lender may do and
<br /> ' Qay for whatever is naessnry to pmtect the valuc of the Proprrty and I.ender's rights in the Pruperty. Lender's uctions muy
<br />_ � �ncludc paying any wms secured by u licn which has priority over this Security Instrument. uppcaring in courl, paying
<br /> � rc:isonable uttorne��s' fces and enterin�on the Property to mukc mpuirs.Although Lcndcr may t:ilcc artion under this puragraph
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<br /> 7,I.ender dues not havc to do,o. _T -
<br /> �j Any attx�unts disbursui by Lcndcr undcr this puragraph 7 shall bcrnmc adJitionul dcbt of Burrower sccur�d by this
<br /> _ � � Security Instrument. Unless Borcc�wcr und Lender agree to other terms of payment,these unx�unts shall bcar intcrest from the
<br /> '� date of dishurcement at the Notc ratr and sh.�ll Me payable, with intcrcst. upon notice from Lendcr tu Burnxver rcyuetiting
<br /> �. . payment. —
<br />-i 8.Mortga�e Insurunee.lf I.ender requicee!mongage insuranre as u rondition of making the loan sc�urcci by this Serurity �
<br /> instrument, Rurrowcr tihall pay the pmmiums reyuired to maintuin the nwrt�ugc insuranrc �n cffect. If, for any mason, the
<br />'� � �"� murtgage insurume cuvcrage rcyuimd by L.rndcr lapscs or rcu,es to be in cffert.Borruwcr tihall p3y the premiums mquintii to , •
<br /> � obtain cuvcrage �ubstantiaUy cyuivalent to the mortgagr insuranec pmviously in eifect,at a cotit substantially equivatent to the
<br /> � � • cost to &irmwer of the mortga�e in�urance pmviously in eff�rt, from an altcrnute mortgag� insurer appmvcJ by Lendcr. If '
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<br /> ' . , • PoyOI o14 FOtM.�OZB 81.9� .
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