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<br /> The Funds tihall be held in :u� institution whu+r dcp��sits are insurcd by n iedcral :,gci:ty• ii7.•irumentali!yy. c�r entjty� _T _.*� __
<br />. , (including l.ender.if Lendcr is such un in+u�war fur�holdiny nd apply n�.thc�Fun���annuullyru�alyr ipg thehc crunY ara,unt�ur�
<br /> � Esrrnw Itemti. I,cndcr mxy nat churbc Borrrc B
<br /> , vcrifying the E.crow Itcm,. unlr��I-endcr�+ay�E���rri,wcr intcrc+t an thc Fund+and applicabl�luw�x�r�ni�,[.cndcr to m�kc+uchCJl .
<br /> c►rh�rgc. H��wcvcr. I.undcr muy rcquirc Bnrnw�cr tu puy a�►�tc•timc rhurgc ti�r an inJcrcndcnt rcul c+tatc tux rc}x�rting tirrvice`
<br /> u�ed by Lender ia cunnectinn with thi+ luun, unle+, applic•rhlc law pruvideti atherwue. Unle++ un ugceem�nt i, mude ue
<br /> �PPlicublc luw requirc+intcrc�t to h writin�. lmwc�cr!that�intecc�t sh:►iithe paiJ��n�hcrFun i.��LenJcr hali�gi e�t t'&�r wcr.p •�;
<br /> H o r r c�w c r a n d l.c�i d c r m a y a},c�� m � i u f a r which cach0
<br /> ° widiuut chur�c, un annual ucrounttc�g of thc FunJs. �howing cre ditti an d dr bi tti tu t h c F u n d ti u n d c h c p u r E x
<br /> dchit tu thc Funds wus madr.Thc Fund.arc picdgcd ati udJitionul +ccurity for atl sums+MUrcAi by thi+Securuy lnstrumcnt.
<br /> tf tl�e FunJ,he1J by L.ender exceed the am��t�ntti�xrniia��d to be he l d b y a p p l i c u h l e luw. I.ender tihail account to Bcittowe
<br /> for the excess Funds in accordunce with the�eyuiren�ent`of upplicable law• IP the amc�unt of thr FunJ+hclS by Lender at an�
<br /> ' timc is not�utficicnt to pay the E,crow ltcm,when duc,l.ender muy so notify B�xrower in writin�.and,in such cusc Borra�n+a�'j
<br /> �� shi�ll puy a� l.ender the umount necex�ry w make up the deficiency. Barrower tihull make up the defic�ency in no mare thun
<br /> " tweive nx�nthty payments.ut I.eoder's sole discretic�n.
<br /> • Upan paymcnt in tull of all sum�scwred by this Sccurity Instrunxnt, i.ender shull prampTly rcfund tc�Burrc�wer uay
<br /> ., Funds held by l.endcr.if, under paragcaph 21, l.ender shall ucquire or sell the Property.I.ender,�nor to the ucquisition ar sule
<br /> af/he Pcoperty, shuU 3pply any Funds hetd by l.ender ut the time of ucquisition ar sale as a credit ugainst the�ums.ecured by �.
<br /> • this Secunty Instrument.
<br /> 3. Applicntion af Paymentg.Unless applicable lu�v pmvides otherwise,ull paymcnts received by I.ender unJcr parugtaphc
<br /> • 1 und 2�hall be applied: tint. to unY prepayment charges duc under the Note: second.to umounts payable under paragraph 2;
<br /> ' third,to intcrest duc:faurth,to principal duc:und last, to any late charges duc under the Note.
<br /> 4.Char�es;Liens. Bonower shaq pay all taxes. ussessments, charges,fines und impositions uttributuble to the Pra rcY
<br />' • " which may attain priority over this Security lnstru h 2�'or if notyeaidan[hammanner. Barc wer shall pay th m o time di�plY ., �
<br /> these obligutions in the manner provided in�a�'agtap P ''""°
<br />� to the person owed payment. 8urrower shal promptly furnish to I�ender ull notices of amaunts to 6e paid under this paragraph.
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<br />- If Borrower mukes these puymentc directly,Borrower shull promptly furnish to L,ender receipts evidenctng the paynients. n „ � �
<br /> gorrawer shall promptly discharge uny lien which has priortty over this Security Instcument unless Bormwer: (u)a�rees in •
<br />' . writin�ta the payment of the obligatian secur e d by t he lien i n a m a m i e r a c c e p t a b l e to i.ender;(b)contests in sood fuith the lien
<br />� ��� by, or defends aguinst enforco ewres from the holder of th licn an a�reement sat factory to L.ender sub�ard nat ng the lien ho ,, ,. .� :
<br /> ' ^ enfarcement of the lien;ar(c> •
<br /> Y P'. Y P Y •?.;s,,`�':' `��'�.
<br /> � , this Security Instrument. If I.ender determines thnt an art uf the Property is subject to A lien which ma attain riorit over ��r f,Y,
<br /> ' this Security Instrument. Lender muy givc Borrower a nottce identifying the lien. Borrower shall sntisfy thc lien or take onc or y�'`
<br /> •• �" more of the uctions set forth above within t0 days of tiie giving of noti�e. .;,,� . �r
<br /> S. H�mrd or Property Insurance. Borrower shnll kcep [he improvements now existing or hereafter erected on the
<br /> � " Property tnsured asainst lass by fire. hazards included within the term"extendai coverage' and nnY u[her ha�ards, including �,�, ;
<br /> � flaods or floodtng. for which Lender requires i V�u�iranc�e nsu�rance shaU be�ho en by�Borroweresubject o Le derts approvdal � '
<br /> � `� that L.ender requires.The insumnce carrier pro g �� '� �
<br /> + which shall not be unreasonabiy withl�ctd. {� �ar�awcr f�it�to snaim�in cnvernge described above. I.ender rnay. ut I.ender'� `�' , � i
<br /> � option,obtain coverage to protect Lender's rights in the Property in accordance with pa�a�caph 7• , ,;; .:.:r •
<br /> All insurance policies and renewn(s shnil be ncceptable to Lender and shall include a standard mortge�e ctause. L.ender t .�j �
<br /> � " � shall have the right to hold thepolicies and renewals. If[.ender requires,Borrower sh�ll ptomptly give to Lender all reccipts of S j1''�.J�`.
<br /> paid premiums and etinewal notices. In the event of loss,Borrower shall give prompt notice to the insurance carrier and Lender. ' t;'',� :�`y;,
<br /> • � • Lender may muke proof of loss if not made promptly by Borrawer. `' �, � .
<br /> Unless[.ender and�sorat ontor re�air�economical y feusiblecand I nd r's seeu titypsln�oc lessened.If he resporat a�or r
<br /> Property damaged.if the re P
<br /> ., repair is not economicalty feusibte or I.ender's security would be lessened.the insurance proceeds shull be applied to the sums
<br /> - .... _ tecured by this Security Insi Wmhin 30 da sra nottce fromdl.endertt a the insurance earrier has offered o�se tle a claim. then
<br /> � Properry. or does not unswe Y �
<br /> Lender may collect the insurance proce«is• I.ender may use the proceeds to repair ar restore the Prupe►ty or to p�y sums �;,r,,,r„�,
<br /> ' secure�t by this Security [nstrument, whether or noc then due.The 30-day pi�«1n olf p��se°tp�n��P��shallenot extend or �—
<br /> Unless L.ender and Borrower otherwise ugree in w�iting. any aphs 1 and 2 or change the amount of the payments. If
<br /> postpone the due date af the monthly payments referred to in parugrap "
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<br /> under paragcaph 21 the Property Is acquimd by Lender.Borrower's right ta any insurance poljcies +►nd proceeds resultin� from ��:
<br /> cl�mage to the Prope�ty prior to the acquisitton shall pass to I.ender to the extent of the sums secured by chis Security instrument :�,
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<br /> • immed�ately prior to the ucquisitton. + Itcatton;Leaseholds. ___ *:
<br /> 6.Occupancy,Preservation,Mstntenance and Protection of the I'roperty;.Barrower s Loan App , .
<br /> , •:�': Borrower shall occupy. establish,und use the Property as Borrower's principal res�dence within sixty days after the executlon of � �
<br /> �' • this Securiry Instrument und shall continue to occupy the Property as Borrovaer�principul residence for at teast one Year nfte� P ., ,.�°'
<br /> the date of occupancy, unless L.ender otherwise agrees in wricing, which consent shall not be unreasonably withheld. or unless :���,r,,
<br />- � �� extenuating circumst.uues exist ��hich are beyond Borrower's control. Borrow�eor�`aler shali�ber�n�defaul tif uny forf ituhe -- — �`
<br />-- property, allow the Pmperty to deterioratc, or commit waste on the Properry• " �'�.•
<br /> 'j;.,•, . " uction or praceedtag. whether civil or criminul. is begun that in Lender's good faith judgment wuld result in forfeiture of the
<br /> - Prope►ty or otherwise muterially impair the lien created by this Security Instcument or Lender's security interest. Bonower may ,
<br /> cure such a defnult and reinstate,as provided in paragraph 18, by causing the uction or proceeding to be dismissed with a ruling
<br /> that, in I.ender's �ood faith determ►nation. precludes forfeiture of the Borrower's interest in the PrapectY or other materiul
<br /> � impairment�f the lien created by this Security lostrument or Lender's security interest. Borrower sh3ll aiso be in defuult if ;.'; ,
<br />� ' Borcower,during tha luan application process,g:�ve materially false or inuccurate information or stutements to Lender(or fsiled .��:„i';,
<br />� to provide Lender with uny material informution)in conncxtion with the loan eviJenced by the Note,including. but not limited
<br />�, to, representatinns cbnceming Borrower's occuponcy of the Property ns a principal cesidence. If this Security Instrument is on n
<br /> ' leasehold, Borrower shull tomply with all the pravis�ons of thc lcu+e. If Borrowcr ac�quires fi� title to the Propecty. the
<br />~ Icuschold and the fee title shall not mcrgc unless Lender agree�ta the mergcr in writing.
<br /> 7,Protection of I.ender's Ri�hts in the Praperty. If Barrower fuils to perform ehe covenants und agceements contuined in
<br />�. this Security ]nstrument, or there is n legal proceeding that muy signiPicantly affect Lender's rights in the Property (such as a
<br />:t procceding in bankruptcy, probate.for condemnution or forieiturc or to enforce laws or regulation� y en I.ender may do und
<br />:� Qay for whatever is necessary to pmtect the value of the Property �d Ixnder's rights in thc Pro rt L.ender's act�ons may
<br /> _ mdude paying any sums sccumd by u licn which h�ti prionty over this Security Instrument, uppc�nng in court. pay�nS ..
<br /> - ___ _, __-_ � n.sv,,,:,h��:►ceornevs fees and entering on the Property to make repain. Although Lcnder may take action under this purabraph
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<br /> � 7. I.ender does not have to do so. -
<br /> " Any amnunts disbuned by Lender under this parngraph 7 shap become additionnl debt of Borrower secured by this ,
<br /> Security Instrument. Unless Borruwcr and Lender agree to��thcr ternis of paymnnt�hcc�frorn�Ler.dcc ImbBurmwcr rcyuc ting ,
<br /> = � datc of disbunement at the Note rate and shull be pa�yable, with interest, ujw
<br /> ±�} ° •� payntcnt.
<br /> ,p, , � g,MartgaRe insurattce. If i.ender required mortgage insur,�ncc us u condition of malcing thc loan ucurcd by this 3ctiurity -
<br /> ` � In�trument. Born�wer shall pay the premiums rcquireci to maintuin the mortgagc insuran��e in effect. If. for any reaxnn, the
<br /> mortguge insurance roveruge requimcl My Lender lapses or ccases tc�be in eff'e�:t. Borrower shull pay the premiums requimd tu
<br /> `m , ' obtuin coveragc substantially cyuivalent to thc mortgage insurunre prcviously in cf�crt,ut :��ast �ubstuntially cquivulent to thr
<br /> cost t�i Borrower of the mortguge insurance previousty in effect. ftom an altemute mortguge insurer approvai by Lendet•. If
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