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<br /> �` Ti�e F�ds�sf�all be field iri an institution whose ctegosit5 arz insared bY+ a federal ageucy, inshva►emaZity. or entity •
<br /> . ('iacIuding T.eader.iS l�ender is spsh aa insHCsstaon}or in any Fedsrad Home Loan Bank.I.eader S6all aPPIy tke Fnnds to gay the
<br /> � . Fs�sow.Items.I�ader way not charge$osower for 6uId'utg aad applyiag�the Fnuds;�naally analyzing the.esc�ow a:caount>or
<br /> vedfyl�the�scmw Items,uatess Leader pays Bcircot�r.�iutei�an the Fnaas hnd applic�ble taw permus Leader to ma'�e such � �
<br /> u charge.However.Lender may req�rire Bomnwer to pay a one time c�ge for an independent reat estia.te.tax repofting seav;ce
<br /> � usedby Lender in conne�xion �vith dus toan.unless applic�bIs taw provides otharw�ss. Unless an�agreement,is made or
<br /> � ' applicable ipw requires utterest to be paid;l.end�r sbalt not ba req�,iired tb pay Borroiv�i aay i�terest o.r�rung�on t�e Fdnds.
<br /> - flbrrower as►d Lender msy agr�:in vmtmg,hovrever,taai inierest shall6e pa�d an t�e Fuads.Lender sball�ive to Borrower;
<br /> �viWout charge. an a�muai;acAOUnttr�g of.the Fuuds�shawiag credits and debiu to the Fands an�the p�iose for wnicu e�ch
<br /> -----�ebii!e t����tsu�as m�Tl�Fss�s asa�ed8 � .. � • , El�s-�.*�1�,�.ss Secu�i_+;I�sus�=-- -—__
<br /> � If the Fbnds hetd by I.ender eaoesd the amaunts permiued to be held byapplirable Iaw,�.e�der shatl acconnt to Borrower
<br /> for the excess Fuads in acco�ance with the requiremeacs of applicable taw: ff the amoant o�the Fands heId isy I:ender ai any
<br /> •- �nte es tt4i suf8cieat t4 puy.t6e Esc[oQt ILQms when due,Ler�der may sa notify Hu=rowes sn_erriringt and,in�ch tase Bomocver
<br /> shall pay to.Lender tiie amount rcecessnry to make up the defciemy. Bormwer shall make up the de8c�ency in nu mo.�+e than _
<br /> .twelve morahly payme�s,at Leuder's sole discretion. '
<br /> Ugim paymerct in fuU of all,snns secural by this Se�urity Iastramem, LendEr sbaU promptIy aefand to Barrower any
<br /> Fands fleld,by Lender.If,ander paragrapk 21,Leader shall acquire or sell the Fcaperty,l.ender,pnor tb the acgui�tis�or sate
<br /> � � of the Propertl►.si►ai1 app3Y any Fuads held bx Leader ai the ame of acqu9sition or sate as.•a�redit against the sums s�.�'ed by
<br /> tlus Secmity Instrumeat. ' ' : . . .,. .
<br /> 3.•Applkatton o!Fayments.tinless applirable lav�pmvides otherwise.�]1FaY�nts reseived by�aer under paragraphs'
<br /> 1 and 2 shatl Ue applied:fust,to acry grepayment charges dne ander the Nos.�,-.s�aonc{,to amounts pag�l�nnder paiagtapt�2; :,::::�
<br />, third.w interest due;fonrtb,to principal due:and tast,to any late charges due��ei the Nat�. � • ..:. , . .
<br /> 4.Charges;�.iws.Barrower s6all p�y a11 taxes,as�ssments,cha�ge.s,fiaes and i��ons atfnbutab2�to the�'sp�ty .
<br /> wluch maq aitain grlority ove;this 5ecurity Instrttment, and Ieased�old`payments or gid�,�`ts,if an3�.Borrowei�`:s�.�ll pay .,
<br /> t@ese obligations in the manner pravIded'm pareg�ph 2,or if not paid in tHat maaner,Borct7`it��r shall g�G��t�t�on timeprecfly
<br /> to the persoa owed paymen�Eorrower shall Prom�St�Y furaish w Leader aIl aotices of amonnts to�e g�i�a�ier tfd's paragrap2l.
<br /> If Sorrower makrs these gayments din�tty,Bann��shall Prompdy fumish w I.ender reeeipts epide�c��,'paycuents.� . •
<br /> ' �nnrmwer sha!!promptiy discharge any lien t�ch has priaci�over this Security i�ent untess.�Ri;�`�aker.(a)agtees�r.
<br /> arItinn to zhe payment of the obti�atioa se�xited by the lien in��anner aa:eptabie to Lertd.,��b)cont�*�in good.f�`�lien
<br /> iry;ar defencls agaiast eafiorrement•�f the lien ia, legal proe;eedings wt►ich ia the Le�:s opi�ian�erate ta pr�vent the •
<br /> . enforcement of the lien;or,(c)seas�s�from the hoIder of the lien an agceement satisfactbr�.�:a�.eadea..�t�nating the iien w
<br /> , thls Sec�rity Tnstmme�:,If Ixader ddemunes that any part of the Praperty is subject to a 1Fe��w��c�.�ttain ptioriry ovea
<br /> this Securiry Insuarnea'i.:•#:euder may give Sonower a notice identifyiag the lien.Borrower�a1L sa�s��7e liea or talce one or
<br /> more af the aarons set fo�tih above vntbin iQ days ofth�g►ving of notice. ' •.:. •
<br /> � 5. Haxard ar Pa�periy �nswance.Borrawer shail kee�tiie improve�ents aow��,:,--ting or hereafter.er�cted on the .
<br /> Prnperty insured agah�si loss by fire,ha7ards included within the term"extended oover.,r�''a�•any otbez hazaxeis, iaclading
<br /> floods or flooding,for whieh Lend�r requires.insuiance.�'his insuiance shall tse maintaia�i m the amo?�.*�ts and far the pesiods
<br /> � . t�at I:ender r�ires..�e insnrance caaier providin,g the insur�nce shall be c8r:sen by Bntrowar sub�c�',o i.ender's approval ; �
<br /> �.�;:which shall not be un.�easonably witAbe2d. Tf Boaower fails to maintain coveiage d�scrI6ed above,�„sr may; ei Lender's
<br /> �` ° ogaon,abtain cove�e to pratect I.�nder's rights in t6e Prope�t fw acoorda�ice with paca�rdph 7. ` :'.;:. � . .
<br /> AlI:�svrauca policies and renewals shalt be arceptab2e rA 8�ender and shaU inetude�siandard iar�age clavse.�Lender
<br /> shaiy'ha�e tr.��.°,right to hold the�olfcies and renewals.Yf Lend�•�uires,Borrower shall p�tly giv�t+i�.ee�det all ceteipts of
<br /> � paid preminms and rencwal nottces.In the event of lass,Borrc:+zr shall give psompt notice m the insucn�r�e:firtier and T.ender.
<br /> Lender may make psnof of lnss if not made PmmpuY bY Borrower. � • � ...�<:�: � .
<br /> Untess Leader and Borrower otherwise agree in arridng,insurance procee�s shall be ap�lied w resWraiion or repaii of the �
<br /> " Property dnmaged,if the restaratien ar r�air is eooriomicafIy feasi6k and L�der's sacvrIty is eot lessen�t.If the resto�on ar
<br /> repair is n�t econoatically feasible or Lmder's ser.urity would be Iessened,the insw�arcce givaeeds shall be applied to the sums
<br /> �cnr�d 6�this Securiry Tnsmiment, whetHer or not then due.witti any excess paid to Borrower. tf Boaower abandoas the
<br /> ' Property,:qr does not answer wIthin 30 days a rcotice from Lender that the insurance rarrier has offered to settle a claim;.thea
<br /> I.ender may colleci th� insurarice proceeds. Lender may use the procxeds ta iepair or restore the.Property or to.pay sums .
<br /> S�Cpr¢d jry tIUS$P�urjty ln n„nt,whether or not then due.The 30�day period w�1}6egin when the nodce Is g�ven.: ' � �
<br /> ` . Unlrss Lender and Boaower otherwise agree in writing, any spplication of proceeds to principaf shall noi ea�tend�or . ,
<br /> postpone tiae due date ef"the monthly payments refemd to in garagn�hs 1 and 2 or change the amount of the payaeats. If '
<br /> w�der.pmagraph 21 the Property is acquixed by I ender,Borro�aer's ri t to eny insurance�oltcies and pxooeeds res�:�ag ftom
<br /> .. �datrage ta the Property prlor to the acquisiflon shall pass to Lender to the extent of the sums s�curod by t�i.�Security Instrument �-
<br /> •_ ir��mediately prioFio ftie acquisition. �. .
<br /> � , 6:Oocapancy,Preservntfon,Matnteaanvc and Protectton of�the Prot�e*tY;Borrower'$I.oan AppBcatton;Leasehold4.
<br /> •• Bocrower sha11•occ'apy,establish,and use.the Praperty as�Borrower's principal residence within sixty days after tbe execution of
<br /> � � Uvs Sei:ur�ty Tn��mment a+!d shaU cx�ntiaue to axupy the Property as Born���'s prencip���dence fox�t least o�9cas�2t_..---
<br /> . the date of occup�cy,nNess Lender otherwise agre�es in writing,wluch oonsent shall naY6�.um�easonabty withheld�or untess
<br /> � extenuating circumstances exist whtch sue 6eyond Bosrower's_ovntrol. Bortower sludl not destroy,,damage or impair th�
<br /> ProPertN, aUow We Yjtopert3+to deteriotate. or com�t was��v;,�F:��;ty. P.U.�ru:.��,::���--'-��-� t:if��y-�r.�;:t�e --. ...—
<br /> � action or proceeding,wLether c�vil or crlminal.Is'begun thai In Lender's gaa!faith judgment could.ri^:�.it in fm�Peitute of the
<br /> •�: Pr�perty or otherwise material[y impair the.lien cmated by this��urity Instnunent or Lettder's securiry ulterest.Borrawer m�y
<br /> ' aue su�a default enA reinstate,as provided in paragraph�i 8.ts��c��ng�he actian or pmcceding to be dismissed with u ml�ng
<br /> � that, in l:ender's gopd f�itA determinatlnri. precludes forfeitune�€tfre Borrower's interest in the Properiy or other r'.:aterial
<br /> ,. impairment of the Eien crea�ed by this Seairiry Instrument or i.ender's 6ecurity �nterest. Borrower shall also be in Qefautt.if �
<br /> Bonower,duxia�the loan appticadon process,gave materialIy falsa or inaa�ate information or stateu�ncs to Lender(or faifed
<br /> to provid�Lendet with any materiat infom�ation)in connection with the Io�ci evidenced by t6e Notc,iac�ading,but aat limited �
<br /> to.representatioas conceming Bormwet's occupancy of the Property as a principal resideIICe.If thes Security Instwnent�s on a �
<br /> IeaSehaId. Borrower shall comply �vith all the provisions of the tease. If Borrower apy�ires fee title to the Frc�c�y, the �
<br /> leasehafd nad the fee title st�all not merge t�nless Lender agrees to the merget in writing. . �
<br /> 7`.II�c+atect�on of Lender's Rtghts in t6e Property.lf Borrocver fails to perfonn tha c�er�ants and�eements o�i�in
<br /> this 5eairity Instn�m�t:.or there is a Iegal proceedin�that may signifrantiy 2ffect Ler►der's rights izB c1�.�Property(s.:c�as a . .
<br /> �proceeding.tn,bantm�::;y,probate.for condemnatIon or forfeiture or to enfcr�1a�rs or regulationsl,c�Exnder caa�c'!�and �
<br /> �ay for whatever is necessary to protect the value of tiie Propc-rty and I.ender's rlghts in the Properry. Lendei a ac:irsns may .
<br /> include paying any sums secured by a Ilen whlch has priority over thIs Security lnstnment. ap8earing in co�, paying .
<br /> reasonable attomeys'fees and entering on the Propeny to makQ repairs.Althou�lt Lender may take action under this p:.-agraph
<br /> 9,Lender does not have to do so. -
<br /> Aay amounts disbursed by I.ender under this para�raph 7 shall become additional deiit of Borrower secured by this .
<br /> Security Instrument. Unless Bmrower and Lender agree to other tem�s of payment.these amounts shall bear inter�est from the
<br /> date of dishursement at the TIoie rate and sball be payable. w1tFi interest. upon not�ce from Lender to Boirower requcstin� -. .
<br /> . payrttent. � . ; .
<br /> 8.Mortgage Imsusance.If Leader required mortgage inswance as a wndition of making the toan secured by this SecurIry
<br /> Instrument. Borrower shall pay the premiums reqaired to maintain the mortgaga insuranoe in effect. If, for any reason. the
<br /> mortgage t�surance coverage ratuired by Le�er lapses or ceases tv be in effect.Borrower shall pay t�q�remiums required W
<br /> obtain coverage subsantially equivaleat to the mortgage insuraace previously ln effect.at a oost substantially equjvalees to t6e �
<br /> cost to Born�wer of the mortguge insurartce previously is�effect, from an altemate mortgage insurer approved by Lender. If •
<br /> " vafleao►a . Famt 3028 9/80
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