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<br /> —_ - ' � - , • Tfie Fuads shall he iteld ir� an institution whose deposits cuv ins�.ired by a fedsral a;ency. instnunentality. or entity . ; �.`•'
<br /> — 4�`�` • ' '.,: tinclnding Lender.if l.euQes is sucfi,aa insdtution)or in any Federal Home Lnaa Bank.Leader sbali apgly the�un¢s to pay the <<
<br /> " .�4�` y ' Escrotiv Items.Lender rnay nat char�+e$orrotiver for hofding and apPtying the Funds,annualIy anatyting the esczorv accouru�or , i ':" .
<br /> - • °, ' "' ' � �erifying ltie Esctow Items.untess L.ender pays Borrower interest oa the Funds and applicabie law pemrits Lertd�r ta make such
<br /> �`° ` � � ��� .a charge. However.F.ender intsy[equire Borrower to puy a one-time charge for an iadepe�dent real es�ate tax reporting service
<br />— "`'�.�r.':c�`�� � ` ` �used by Lendei in�onttection with this loan, untess applicabie taw provldes�other�v�se. Uutess an agreement is a�ade or :'�.r;
<br /> :� F.•.`` `�t�'` ` applicable law eequites interest co be paid.I.ender shaU not b�required to pay Borrower any intereSt or eamings on the Fuads. . ..:..
<br /> �, �{''�� �.• ` � Borrou�er aad Lcnder may agree in writfig.ho�vever.t4at interest shaU be paid on th$FnR�s. �.ender shail give ta Borrawer.
<br /> —..4,c ,
<br /> --. ' • ' witho�t ch�rge.an u�nual acxounting of the Funds. s t towiug e r e dits a u d d e 6its ta t he,Fun d s an d t l ie purpose for w h ic h ea c b •
<br /> - �'`r�, ' � �"'�,', debit to the Fuads was made..�e Funds are pledged as addi'donat security for alt sums secured by this Security�ment.
<br /> -- _ _.__ [f thc Funds f►eld by Lender exeeed d�e amounts perrs�itte�w be held.by applicable.law.Lender sha11 account to Borrower
<br /> . ' �k =� for the excess Fu�ds in ascordance with the requiremeuts of agplica6te la�v. If the amaunt of the Funds i�eId by Ler�er at any '•
<br /> �.,.c�` time is not sufficient to pay the Escrow Items wAen dae,Lender may ao notify Borrow�r in writing.aad,ia such ease Borrower , �.. S..:
<br /> � •� sha11 pay to IBnder tlte amouat necessary to make up the deficiency.�ormwer shall taake up the defcceency in no more than
<br /> :. `'. ""�."" `� twelve montblY payments.at Lender's sflle discrelion. �
<br /> _ '''.,';" •: � [lpon payment ir�full of aU sums secured by this Security Im�rament, L.ender shall pmmptly nefund to Bar�awer any . _
<br /> %��'; ` , ��;'`` 'Fands tveld by L,ender.If,under patagraph 21,Lender shall acquit+e or sell ths Praperty,Lender,pr�ar to the acquisit[on or sale •
<br /> •' ,,' ��,;��.�';,.�:�, of the Property.shall apply any Funds hetd[�y i.ender at the rime of acquisition or sale as a cred�t against the sums secured by y
<br /> � .. � this Secuiiry InsrivmEnt. � • . : -�:
<br /> � . 3.AppItc�on o�Paytnents.TJaless applicab[e lavc provides otherwise,all payme�s received by Lender under Fa�a�'dPhs c : �''�
<br /> • , 1 and 2 shaq be applie�:6rst.to any.prep�yment charges dae undes the Note;secaad,to ammmts payable under paragraph 2; -
<br /> , - third,to interest due;fowth,w principat dae;and tast,to any late cI�arges due uader We Note. ' � �
<br /> , ` � � 4.Cha►ge5;Ide�os.Borrower shall pay alt taxes:assessments.charges, fines and im�ositions atm'butabte to the PrnP�Y
<br /> s ;��.
<br /> which may attalv prfority over tlris SecEUity Ins:'rument, and leaseho(d paymenu or ground r�nrs. if any. Bmrower shaEi pay �..r,
<br /> - � • Wese obligations in the n�tanner provided in pa:agraph�,or if nnt paid in that marmer.Borrower.shall pay them on time directly �r
<br /> - tn'the petsvn owed payment.Borrower s4�U promp;ly furaish to l�nder all notic�s af amounts to be paid ander tt�is paisgraph. •, .
<br /> .;:�' •�.".:y` If Borrower makes these payments d i re c i ly.Bormwer shall promptly fumish w Len d er receipts evi d e ncing the payments. "
<br /> - --=;.:c-----�.vf. , Borrowes shali promptly discharge any lien which has pnanty over this Securiry Instrumeiit untess Borrawer:(a)a�in =!`�"
<br /> _ - ��.��:�.:. �'�:. < wtitirrg�tts�theyayment�ofthenbligationsecuredbythetien-in�amarmerac�tnbleto�i�nder,(b)mntests-in�gaad-faith-the-lien � . ���"„�
<br /> `' '• , by, or defemds aga�nst enforceatent of the lien in, legal proceedings which in the Lendes's opiaion op�rate to pncvent the ��!=�;='
<br /> � -�� '`, � '`�' enforcemeat of the lien;or(c)secures fmm the hofder of the lien an agreement satisfaMory'to i.ender su6ordimting the lien to ' • •
<br /> ���f
<br /> ' xx:,: , this Securiry Instrumeni.If Lender deteriniues that any part oF the Properry is subject to a lien whi�ch may att8in pziority over , ��;s
<br /> _ ` !����:�._3: this.Security lnsuumeat,Lender may give Bosrower a aotice identifying the lien.Borrower shal}sarisfy the lien or take one or �;:
<br /> :��8 '��''�� marc of the aciions set forth above within 10 days of the giving of nouce. � �- � - ;��
<br /> ;;:,�! .'�� •.�,�� 5. Ha�ard or Property Iasaianoe. Borrower shall keep the impmvements now existing or hereafter erected on the '--
<br /> ' �""� �,; , ptoperiy insured against loss by fue.ha7ards included within the tetm "extended coverage"mid aAy other hazards,iacIuding � !_
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<br /> . 4..,.� t�oods or Aoading,for wtrich Lender requires insnrance.This insurance sl�all 6e mainreined in tbe amaunts and for the periods
<br />�� '�=•:��+. .� �`...':';,`^;� that Lender req�ures. The insurance carrier praviding the issuran�e si�all 6e cttosen by Borrowet subject to I.ender's appro�r^s! -
<br /> � �'�:�s�`"% � w4ich sball a���e unreasonably arithheld.If Borrower fails to m���voverage described above,.Lendes aiay, at Lendm�"s ' —
<br /> ` . ;;�.:;�"�� ;� option,obtai�c%:7rage to protect Lender's rights in the Propetry in��ance with paragrap4 7. .,' —
<br /> � .�, .,_.;`',�, ., All insuia^.ce policies and renewals shall be acceptable to Lender and sLall include a standard mnrtgage clause. Lend�it
<br /> "�f:�;,;:'.., ,, -, :,-�•� sQ�3t�ave the right to hotd the policies and reaewals.If Isnder requires,Borrower sl�alt promptly give to Lender all moeipts o f
<br /> �` '�` • • ` r. :� paid premiums and renecval uotices.In the event of toss.Hotrower shall give prompt notice to the insurance earrier and Lender:
<br /> �'�s'"``"° ��'�`'�� Lender may make proof of loss if nat made promptly by Eorrotver. '
<br />_ �''"�'�. Unless Lender aad Borrower otherwise agee in writing;insvrance pmceeds shall be applied to cestoration oz repair of d�
<br /> .••-.�`��:...,. . • .
<br /> ;-:��`"�.;,�,�' :=� '• Property da�aged,if the restoiation or repair is economicaUy feas�ble and Lendet's security is not les.sened.lf the restoration as
<br /> r�_� " repair is noi economically f�sible or Lender's security would be lessened,the insurance proceeds shall be applied to the sums =.-_
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<br /> -- �;ti`��?:...: .•:.' .' � sccured by this Security Instrument.whether or not then due, witi'�any excess paid to Borrower. If Borrower a6andons the �
<br /> ��.�;� .�a Property.or dnes not answer within 30 days a notice from Lender that the insu�nce carrier has offered to settle a claim.tdie,� . •
<br /> '�'�.���� r � Lender c�Lect the insuiance mceEds. Lender �nay use the proceeds to air or restor�the Pna or to a s� :
<br /> �'':= ;{#� : �Y P ce �P P�Y P Y
<br /> ' f4',�'�`ry'� � secared by tkT�:Security Instrume�t.whether or not ttten due.The 3Wtay periat will begin when the nqtice is given. :'��� �
<br />_ Unless�.eader and Borrower othenvise agree in writing, aisy.�lication of proceeds to principal shall not extend ai��
<br /> -�_—_— �= postpoae th�dae date of the monthly paymenu referred to in par�..g��i'�s 1 and 2 or change the amount of t��payments.�f '
<br /> --1��.=-� — � a�dder pai�grapb 21 the Property is atc�aired by LeMes,�otrav�er.'s sr�z:t to any i�s�;.�ce�olACies and pmeeads c�ulHng from . —
<br /> _ - daznage to ti►p Property prior to the acquisition�hall�t:a Lender t�G.�extent of Ch�sua�s secured by tlris Sea�+ty Lismiment =—
<br />__�_-�;;°.. , immediate(y�r to the acquisiuon. . � ,. .
<br />±-�.��'`�:� . Uc�y Freserva4Eon,Mainte^.�a3tse and Q�t4dion of 4��+operty;Borrower's L'oai�App9�catton.I.eaue6nids.
<br /> • =a�,�:: 6. �
<br />_�t;;��;�' Boaower sha:L:�ccupy�establish,and use the Propertg:,:�Sorrower's pnaclpal residence within sixty days after the excxution af
<br />-=��"'!�.'•�t��•..,-._ . this Security tnswment and shall continue to aavpy ti,��perty as Borrower's principal tesidence for at tea�t one year after _-
<br /> ""�"'"�`r ` the dafe of occupancy.untess Lender othenvise agrees L_�rlting,which consent shall not be unreasonably w�ir�J'�tal.or unle�s °=
<br /> � �:,.,. ,.• , __
<br /> =• '�;.,�'�� extenuadng circumstances exist which are beyond Svrnwer's oontrol. Borrower shall not �estroy. dama�'. ar impair the
<br /> ����`' •,.,, Property,al�mv.the Properry to deterior�. or commit waste on the Property. Borrower shalt be in default�f any forfe:�z.�
<br /> _� �.*'��,�:,� . action or prvsn-`ding,whether civil or.crlrnnal,is begun that in L,�ri�r's gaod faith judpnent could result in forfeiture of ti.� . `
<br /> ���I�l���- Properry ot c�t�rwise matepially impair the lierr created by this Secc:rt�+`Instrument or Lender's security interes�Eohrower rM1..aY � „--
<br /> _� '� �re.sucfi a default and reinstate,as provided in para�18,6y causmg the action or prviceeding to be dismi�with a ruling ---_
<br />- `;;:<�.;�.�:, tStat,_in Icnder's good faith determination, precludes fr�cfeiture of the Borrower's interest in the Froperty a��iher material -�_
<br /> ,?-.�. �. �. ': ,
<br /> , � T='�:�•_-:., ! . i�pairment of the lien cteated hy,this Security Inst�uinent or Leader s securlty interest. Borrower shall alsd be in defauft if ---
<br /> ���� .
<br /> ,.<���,��.a � Borrower.durin g the loan a p plication prooess,gave materiall y false ac inaccurate infom�atian os statements to Lender(or failed
<br /> °.« " ,�;F�j;'..�:, , � to provide L�n�er with any material infora�a�ioa)in connection wit�a tGr loan evideaced by the�ia�,incIuding,but not limited _
<br />_ - .��:� to,represe�.p:ans conceming Borrower's occupancy of the Property as a principal residenee.If c�,is Security lnstn�ment is on a �_
<br /> ' ' ' leasehald. Botrotvet shall comply with all the provss�ons of the lease. If Boaower acqulres fee title to the Property, the uire=�
<br /> '•. .r. ..,,�x�:.
<br /> - leasehold and the fee tide,�iaaJl not merge unless I.ender��ees to the merger in wdting. y�xn,.
<br />_',�: T "'�' 7.Pro3ei:tion ot Lender's Rig&ts in the Propert�.P��orrower fails to perform the covenants and agreemeitts contained in ���
<br /> -'� = ���•- .. ' ��" this Security Llstrument.or there is a legal proceeding t�hat may si�nificantly affect l.ender's rights in the Ptoperty (such as a �'
<br /> . . ,,.. . .� . . .
<br /> - • - , .;,: prooeeding un.f^�n&ruptcy.ptobate. for condemnation or forfeiture o*4o enforce laws or regulations),then l.endr,r may do a.:�d �;
<br />_�. �,=: ' •:;�- Fay for whatever is necessary to protect the value of t�e Froperty and Lender's rights in the Property. l.ender's acdons may
<br /> - .._v-'r � • mclude paying any sums sccured by a lien which has prioriry over this Securiry Insm�ment, appearing in court. paying �.
<br /> — , : � � • reasonabte attomeys'fee.s and entering on the Property to make repairs. Although Lender may take action uMer this paragraph � '''`
<br /> -_ ` • ;��'`s``'�,�. 7.Lender does not have to do so. ' ..
<br /> -- � , • Any amouats disbursed by Lertder under this paragraph 7 shall became additional debt of Borrower secured by this
<br /> . • ' Security Instntment. Unless Borrower aaid Lender agree to other terms of payment.these amounts shali bear interest from the
<br /> � ,�` .�� ' date of disbursement at the Note rate and sha11 be payable, with interest. upon notice from Lender to$arrower requesting `
<br /> .{ • }`` �. .' �• . � �ym8.Mostgage Iasnrnace.If Lender•required mo»gage insutance as a condition of making the loan secur�d by thls Security . ,
<br /> � � ' � . Inswment. Borrower shal!pay the premiums required to maintain the mortgage insurance in ef�'ect:1f. fos any mason, the
<br /> �' � ° � ' • moatgage insurance coverage required by Lender laps�;or ceases to 6e in effect.Borrower shall pay the premiums required to .
<br /> , .. . .
<br /> _ . , ..
<br /> � � .��: .. � � obtaia caverage substantially equivalent to the mortgage insurance previously in effect.at a cost substantially equivalent to the '
<br /> :>-. .�__ _ __ ..: �_.�-__, '
<br /> . . cost to�orro�ver of the rtrortgage iia�mmtce psevi�asiy in effect. irom sm atterimte mortgage ins�rer aFprovai bY ixrtder. i�r •, `
<br /> . �. ' . .
<br /> • • +
<br /> _, � . ., va�aolo , form3028 91�J0
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