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<br /> � Thc Fundy �huil bc held in an in�ti►ution whu+c dcp��sit+ urc imureJ by a f�der�►I agrncy. imtrununtidity, ur entity �
<br /> f (inrluding lAndc�.if l.cndcr i,tiuch an im�ituti�mi nr in uny Fedcrul Honu Loan Bank. l.�ndcr tiludl ap�+ly thr}'und�t��pay thc
<br /> F,cruw Itcmti. Lrndcr may n��t rhurgc B�Kruwcr ii�r h�dding+md upplying thr Fund,. annually unalyiin�.�hr cun�w arc„unt.ur
<br /> vcrifyi�t�!thc fitirrow Ucnn,utde,�l.cndrr pay+Li�ttruwcr inlrrc,t un thr hunJ.unJ.tpplicaMr!au prm�it.Lrndrr tu uiakc tiuch�Q'
<br /> a char�;r. H��wcvcr. LcnJcr muy rcquir�Aurruwrr tu p:�y a unc-timc rhur�c ti�r an i�iJrpcndcnt rc:il c,tcU�tux rcpurttn�s�rvir�
<br /> uzcd by Lcndcr in runn�:c�iim with thi�luun, unlc" upplicahlr lu�v pruvidc, utturwi+c. Unlc�� an agrccmcnt i. nu�d�: ur i
<br /> upPlicaMlc luw rcquirr,intcrc�t to br paid.I.cnJcr+hull nut hr rc��uircd tu pry Hurn,�vcr uny intcrc�t or ruming,uti thc Funds.V �
<br /> � Burruwcr una L.�:ndcr may u�!rec in wruing, hi�w�vcr, thi�t inicrc.t tihull hc paid �x� thr Fund,. Lcndcr �haU givr tu Hurrowcr,`
<br /> without chargc, un unnuut acc��unting��i th� Fund,, tihuwing rrcdit+unJ dcbitx to thc Fund� :�nd thc pur{xnc ti�r which cuch O , ��
<br />. dcbit ai thc FunJ�wu�mudc. Thc FunJ�arc pl��lgcd us additi�mal s�rurity f��r al l smsu.ecured hy thi�Sccurity Instrum�nt.
<br /> !f thc Nundh held by Lender cxrcc�i ihc umuum+ �xnuiu�rl tu ik Ii�IJ Uy aPplicuhlc la�t•.Lendcr tihall arrnunt t�� H��rrcnver� �
<br /> for the excexs Funds in uccordance with thr requircment+��f upplicabie law. lf[he umount of thc Funds hcld by L.cndcr ut any�
<br /> time is nnt+ufficient to pay the Eticruw Itcros when duc,l.ender muy su nutify Borrower in writing.uncl,in such c:�sc f3orrowc� , � �
<br /> . tihall p�iy w Lender the amount neressary tu make up the defiricncy. Borrowcr�hu�l makc up the dctiricnry in no mure than�
<br /> twcivc mnnthly payments,at l.ender's sole discretion.
<br /> . Upim payment in full uf ull sumti ucurcd by this Security Instrument, Lcnder tihall pr�imptly refund w Burruwer uny ,
<br /> Funds hel�l by L.ender.If,under parugraph z 1,La:nder shull ucquire or sell thc Prap�.rty.l.cnder,pric►r t�the ucqui+itiun or tiulc
<br /> of the Property, shall uppty any Funds hclJ by i.enJcr ut tl�e time of ucquisitian or tialc ati u credit ugainst the sums�.ccured hy
<br /> this Sccurity Instrument.
<br /> 3. Application of Payments.Unless applicublc law provides otherwise.aU pay ments received by Lendcr undcr parrgraphs .
<br /> � ! and 2 shall be applied: first,to uny prcpuyment cha�ges duc under the Note: second, to amounts payuble under puragraph 2: -
<br /> third,to interest due: fourth, to principsal due:and lact,to any late charges due under the Note.
<br /> 4. Chorge.s;Giens. Barrower shaU pay ull taxes,uysessments, char�es,fines and impasitions att�ibutabie to thc Property
<br /> � which may attain priority over this Security Instrument, and Ieasehald payments or ground rentti, if any. Bonower shall pay
<br /> ' thesc abligutianc in the manncr provided in paragraph 2,or if not paid in that manner,Borrower shall pay them on time directly ,
<br /> . ���, � to thc penon owed payment. Borrowcr shall pramptly furnish to I.ender a�E notices c�f umuunts tu M:paid undcr this paragraph. •
<br /> If 8orrower makes these paymenGs directly, l3orrower shall pramptly furnish to Lender receipts evidencing the paynxnts.
<br /> " Borrower shall promptly discharge any lien which has pnor(ty over this Security Instrument unless�orrower:(a)a�recs in ��
<br /> �� ' � writing to the payment of the obligation secure�i by the lien in a manner acceptable to I..ender;(b)cuntests in good faith the lien
<br /> "`'�t�`��`• � b or defends a umst enforcement af the lien in, legal praceedings which in the Lender's opinion operate to prevent the ` ��?
<br /> - ��,� '•,:,;:; .. ,, y• s � • ,
<br /> �s,_ .�' • enfarcement of the lien; or tc)+ecures from the holder of the lien an agreement satitifactary ta I.ender subordinuting the lien to
<br /> '. � �.;;,j;�� thiti Security Instn+ment. if L.ender determines that any part of the Propeny is subject co a lien which may attain pr►ority over • ',:;,; • , _
<br /> this Security Instrument. Lender may give B�rrower a notice identifying the lien.Borrower shall sutisfy the lien.or take one or ',;.;'� ,-
<br /> �� . more of the actions set forth above within 10 dnys of the giving of notice. �';��'!� •
<br /> _. . 5. Hazard or Property lnsurance. Borrower shall keep the improvements now existtn� or hercafter erected on the . �—
<br /> � Property insured against loss by fire,hazurds induded withtn the term "extended covera�e" and any other ltazards, including s':��'.�
<br /> floods or flooding, for which Lender requires insurance.This insurance shall be maintained in the umounts und for the periods ,�, „ ; �
<br /> � _ chat L.ender requires. The insurance carrier providing the insurance shult be chosen by Borrower subject to [.ender's Approval '�
<br /> •�•;;; ., which shull not be unreasonably withheld. If Borrower fails to muintam coverAge describe3 aiwve. ixadC� �iiuy, ui I.�idzr's • �-
<br /> �'j� option,obtain coverage to protect Lender's rights in the Property in uccordance with parugraph 7• '.r ��� �
<br /> - ' � All insurnnce policies and renewals shall be acceptable to Lender and shall i nclude a standard mortgage clause. Lender 'f�. �� �
<br /> shall have the ri�ht to hold thepolicies and renew�ls. If l.ender requires,Borrower shall promptty give to Lender all receipts of ; ;:.�
<br /> • , paid premiums and renewal notices.In the event of loss,Borrower shall give pmmpt notice to the insurance carrier and I.ender. � Q , ;��,
<br /> • :�,'�`;:-, . Lender may meke proof of loss if not made promptly by Borrower. , ` � ;�;
<br /> Unless I.ender and Borrower otherwise agree m writing,insurance proceeds shall be applied to restoration or repair of the ,s{fi;� � .
<br /> - � Property damaged,if the mstorntion or repair is economicuUy feasibte nnd L.ender's security Is not lessened. If the restoraaon or : .: ; 4
<br /> '....r;" repair is not economically feasible or I.ender's security would be lessened, the insutunce procceds shal!be applied to the sums .
<br />__'.'�;;��� secured by this Securiry Instrument,whether or not then due, with any excess pa�d to Korrower. if Borcower abandons ti►e ,
<br />-_. - Property,or does not answer within 30 duys a natice from Lender that the insurance carricr has offered to settle a claim, then � �+��
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<br /> - Lender may collect the insurnnce procceds. l.ender may use the proceeds to repair or restore the Propeny or to puy sums .+:�..�__
<br /> - • secured by this Securiry Instrument,whether or not then due.The 30-day period wil l begin when the notice is given. ;i:;, „�,�
<br /> -� ' Unless Lender and Bonower othervvise agree in writin�, any application of praceeds to principul shall not exrend or
<br /> �%� •' postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the arr►ount of the payments. If „ ;:��_
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<br />= under pnragraph 2l the Pmpeny is ucqwred by Lender,Bonower's right to any insurance poltcies und procee�s resultin� fram
<br />--. damuge to the Properry pdor to the acquisit�on shall pass to Lender to the extent of the sums secured by this Sxurity Instrument °�!``'
<br /> - � � tmmediately prlor to the acyuisition. , ° , j
<br /> 6. Occu nc ,Preservation� Maintenance and Protection of the Property;Borrower s Loan A.ppficatfon;Leaseholds. �""
<br /> P& Y ,:�,r*�:.
<br />-° ••• Bonower shall occupy,establish,and use the Property as Borrower's principnl msidence within sixty daps after the executIon of
<br /> � � this Security Instrument and shall continue to occupy the Property a+Borrower's principal residence far at least one year after ','�" ,
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<br /> -'' _.... .,�_ the date of accupancy, unless Lcnder otherwise agrees in writin�, which consent shall not be unreasonably withheld, or unless ���+�----
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<br /> extenuuting circumstances exist which nre beyomi Borrower's contrul. Borrower shu�l not destroy, da.mnge or �mpuir the � a•-
<br />-i, Property, allow the Propercy to detcriorate, or commit wastc on thc Property. Bor�ower shull be in default if any forfeiture •���' •
<br />— . " action or proceeding.whether civil ar criminal, is begun that in L.ender's good fuith judgment could result in forfeiture of the
<br />-c:-, Property or otherwise materially impairthe lien created by this Security Instcument or I.ender's security interest. Borrower may
<br />-= ��� cure such a default and reinstate,as provideci in paru�roph 18,by cuusing the action or proceeding to be dismissed with a rulin�
<br />_.!��:��" that, in I.ender's good faith determination, precludes forfciture of the Borrower's intcrest in the Property or other material „
<br />�'�`•' impairment of the licn crcatcd by thiti Security Instrument or Lender's secu�ity intcrest. Borrowcr shull also be in default if „
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<br /> -_;•. Borrower,during the loan applicstion pra:ess,};avc materially falsc or inaccuratc information or statements to Lendcr(or failed ,
<br />=i ' to provide I.ender with any material infarmation)in connection with the loun evidenced by the Note,including, but not limited
<br /> , to,mpresentatians conceming Bonower's o�rupancy of the Property as a principal residence. If this Security Instrument is on u
<br /> ,��",�. lcusehold, Borrower shall comply with ull the provisions of thc Icasc. if Borrower acquires fce title. to the Propeny, the •� ��
<br />-dj ' leaschold und thc fce tftle shall not mergc unlers l.cndcr u�rccs to the merger in wriein�. �
<br />-'' `-� 7.Protection of Lender's Ri�hts In thc Property.If Bonower fails to perforrn thc covenants and ugrcemcnts contained iu �
<br /> this Security instrument,or there is a legal proccedinF that may significundy afFect Leniier's rights in the Property (such as u
<br />= ,;, prcxeeding in bankruptcy,prubate, (or mndemnation or fnrfciture or to cnforce laws or rcgulutions), then Lendcr may do and
<br /> . • —_� �ay for whatever is necessary tn protect thc valuc of thc Pmpccty und I.ender's right�in the Pmperty, Lcndcr'.uctiom may
<br /> y , includc paying any �unu �ecurec! hy a lien which has priority over thi� Securiry Instrument, uppeur�ng in court, puying
<br /> -_ __. ..,.....,....w�„ ................•�,.. .....�.,.,�.�r��.,„„ ►ha Prnmrtv tn maln•mnairs. Althoueh Lcndcr mav take artian undcr thiti parugraph
<br /> ....�,.. ��.Ya/��u���. u��v���b�.. .�.�..M.........�....0_.. ...�' '"f"'� .. � _ -=._._.".__._._ ._...__..___ -.
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<br /> . 7, Lender does nat have to do tio.
<br /> �' � Any amnunts disbuncd by Lender unJer this paragruph 7 .hall bccome uelditiunut debt uf Burrower secureJ by this
<br /> :�� � Security[nstrumcnt. Unlcss Bottower and I.cnder u�ree to other tcrms of paymenf.thc�c amountti tihall beur interest From thc
<br /> � z Jute uf di�bursemcnt at thc Nc�tc rrtc:and shall br p�yable, with intcrost. upan noticc fr��m Lcrxicr to Burrowcr requestir�;
<br />= ��'�' paymcnt.
<br /> 8.Mort�age Insurunce.lf I.endcr required mnngabe insurancc ati u condition��f mukin€the Inun�crurcd hy this Security
<br /> �:�r Instrument. Bonower shall pay the prcmium� required tc� muintain the mortgage insurance m effect. If, for any reason, the �
<br /> mortgage insuranee covera�e required by L.cndcr lapses or ceascs to be in eff'ec:t.Born�wer�hall puy thc p�emiums reyuireci to
<br />,r � obtuin coveragc substantially cyuivalent to the rnort€uge inxuranre previourly in ri'fcrt,at a�ost substantially cquivulent to thc " ..
<br /> -. �' cost tc�Bnrmwcr of the monga�c in�urancc previously in effcct, from an niternutc nx�rt�a�e insurer approvcd by Lcndcr. If
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<br /> •� ., � • v000 7 oi a Form 3028 9l90 ,
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