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<br /> � Th� I�unAs shnlE bis hcld In un iiiytiwtion wh�sc dep��sits nrc insured by n fcdcr�il i►gency, instnimcntality, or eniltf�
<br /> (iucludin�Lendcr. if Lcndr.r is sucli an instituuon3 or in nny F�dcril Humc Luan Eiank. Iw�ndcr sh�ill,�pply thc I'uncls to pny ihr•
<br /> E4crinv Items. l.cndcr m��y nni chnrLc 13orrc�tivcr fi�r hold'Ing und;ippfying tlic Funds. unuually imniyiin�; thc csceo�v,�ccntmt,�ir
<br /> vcrifyim�th� Exr�uti�Itcm::,unlr_�,s L.�nder p;iys[3urr�nscr iutcr�s��in tlic Fonds �mil,�nri��aNlc liiw��i�rmitti I.cn�lcr lu�nuki�tiuch ,
<br /> u charge. H�►wevcr, l,�ncicr muy reuufre 8ni•rower tu��ay u unc-li�ne rharj;e fiir iw iisdependent rcal estute mx repurtln�;he�vics
<br /> u�,cd by Lendcr In cn�uteclinn with lhiti luan. UIlICSti 11�3�lIICi1hIC lii�v pruvides uit�cr�visc. llnlcss uu iigrc::ment i:, tniid� ur
<br /> �ipplicalilc Imv reyuires intrrcst tu bc �Said. l.ender shull nut h�•rcqulreQ tu pay Hurr���ti�cr�iny iutcrrtit or rarnin�;�on tilr Fu�ids.
<br /> fiorr��wcr m�d l.cndcr �nay si�rcc in ariting, howcvcr, thnt in!crcu shnll hc p.iid un thc 1=iandti, l.cndcr r;lmll �;iva tn�ln;ii�wcr,
<br /> +., withuut churbc, u�►annuril nccotuning��f Uic FunJs, stmwin� crcdity und dchits to ohc fundti und Uic pur�x�se li�r w{�Ic?�c.u�•h
<br /> dcbit to thc Hund:;�wis m;idc.7`hc Funds crrc plcd�:eJ iis ndditionnl ticrarity fi�r u!I tiwny sccurcd by tl�is Sccuriry Ir�st�unttttl.
<br /> If the Funds hcW by Lcndcr cr.cccd thc amounts pcnniucd to bc hrld hy applirable Is�v, l.ender shaU areuunt to ilcirmi�:,r
<br /> for thc exccss 1'unds in uccarciuncc with thc rcyuiremcnts of cipplirablc Inw. If Ihc iuitnunt of Ihc Funds hcld by I.�ndsr u9 ctny
<br /> tinze is nut sufficicnt tn pay d�e �.scr�w items when due,l.e�xler muy so nntify[i�irro�ver in writing, u��d, io r,ucli case[Rurrcnvxr
<br /> sh.dl pay tn Lcndcr thc nmmmt nr.r.csssery tu makc up U�c dc(icicncy. Bsirr�nvcr st�i�ll mnkc up thc dcticicncy in no�nnrc thttia�
<br /> t�wclvc montttly paymcn�s, .�t l.�.ndcr's solc discrcti�n.
<br /> Upc�n p�yment in full nf all sums secumd by Ihfs Securlty Instrument, L.cnder shull prnmptly refwxl tu Hc�rrnw,�r uay
<br />'_, Fundy hcld by Lcndcr. If, undcr parriEraph?.I, l.cnder sha11 ncquirc or sell the Praperty,Lcudcr.priar to thc acqtiicitfan or�alti
<br /> of thc Property,shull apply uny Fuuds l�eld 6y l,end�e nt the time of ucquisition or sale us n credlt n�}ain:t Ai4 sums so:u�d by�
<br /> �:� this Sccurity Insu�;mcnt.
<br /> 3.Applicatlon ot Peyment».Unlcss opplicnblr,I;n���rnvides othcraise,nll payme��ts receivcxl by Lendnr umlt+i•nc��ngr��pF►s
<br /> 1 And 2 shall im applicd: fint, tc�nny prep;�ymcr�t char�tns dur undcr thc Notc; sccond, to �,nmunt�;pc�ya�Ulo uncic�r para�rt�ih?.;
<br /> tl�ird,ta interest due; Pourth,to ��rincfpal due:und Inst,to�ny lute charges Jue under the N�ue.
<br /> 4.CAerges; Ucnv. Barrowcr sf�ul!pay ail taxes,assessments, �n,►���., fines c�nd impusitions utt�ihutahlo ro tht� Pr<�pc��+��
<br /> _ which may uttnin priority avcr dhis Security Instrumcnt, and lea�;ehold paymcnes or ground rents, if�iny. Bottower shnll ��rap
<br /> � thesc obligatiuns in the manner provided in par�gmph 2,or if not paid in that manner, Rorawcr shull pay thcm on time.din:,.tl��
<br /> A� to thc persan owed payment.6orrow,z►•slmll proiiiptly furi�ish to l.ender all noNc.es of�tnounts to tfe paid undsr thlE pzrnnraph.
<br />-� If Boreower makes thcsc paymants direcily,Bvrrower shall promptly fumish to L.citder recei�ns evidencing tlie paym:ntr�.
<br />:� Borrower aha11 prompdy discharge sny licn whidi has priority over thir Security Instrument unless Borrower: (�0 t�n:�s in
<br /> writing ta the payittent of the obligatlon securr�i by thc lisn In a manner accepu�ble to I.ender,(b)contests in�ocx! ftdth.dto linn
<br /> _ by. ar dcfends against er�forcement of tha Uou in, Icgal proceedin�s u�hi�h in the L.endcr's opinion opcmta tn p�vrmt,�lir
<br />: ��� enioreement ot the lien;or(c)secures irom u�a[►��lde�01 the lien un�greement satistactory to I,en�l�r subnttl�nrtmd thn 1►a�i u�•
<br /> �his Security Instrument.If I.ertdcr determines that any part af the Praperty is subjr,ct ta a lien whicli m�y nttnin priarits�nti�Ur
<br />._� this Securiry Instrument.Lendr,r tnay Qive Bo�rower a notice identifying thc llen. Borrower shuU saNsfy tt�e il►m or ts�l:te an�s or
<br /> - more of the actions�et forth above within 10 duys of tl�c giving of notice.
<br />-'�: 5. �lozard or�ropeny Xnsurance. Borrower stiall keep the improvements now existing o� hr•rrr�Rot eYectcr.l•on�thfl
<br /> _ Property insured 3gainst loss by fire, hazards incl�ded within tlic tenn "extcnded covcra�c"and any othcr hamrde, �nrltldih,�
<br /> := floods or flooding, for whic:h I,.r:nder reqalres insumnce.This insurance shall be maintainod in the anwunts no�d foe tittt p{�ria:�i,
<br /> — that[.ender requires. The insurmcx a�rrier pmviding the insurance shall t►e chosen by Borrower subjeet to I.enciea'�npp�m;vS
<br /> -= wiiii� 5i�iaii n�i oc utuea.wnubly �viihhefd. ti 8orrowcr iaiis iu muiniuin covcrabe aeun'occi aoove. i.crxier mp,y, at ien:itr°b
<br /> — op:ion,obtain�ovcrage to protcet Lcnder's rights in thc Property in or,cordance wid�par�sraph 7.
<br /> All insunncc policies nnd renewals shnll be ncceptciblc to I.ender unsl shull include a standerd martpaEo cl�y,is��. �ero:i�ir
<br /> -� shall hzvc thc righe Qo hold the policies and m.nnwaln. If Lender requi�r:,,Borrower shnU promptly givo io Lc,esl�a a11�nv.n:i7�ts af
<br /> paid prcmiurrcc anc�renewal notices.In thc event of loss,�unower shull give prompt notics to tlic iiuumpx ax�rrinr r�n;1 Lencic►•.
<br /> Lcndcr mc►y make proof of locs if not rnade pramptly by Iiurr.ower.
<br /> Unlcss l.ender und Borm�uer othenvisc agrcc in writiraR, insurance procer,ds ahall bc appliod to rastor�icm�or M:,m�ir of thr.
<br /> Ptuperty dam.�ed, if die resturataun or repair ls econouur.ildy frasibl�nnd I.ender's security is not lessNt►fa-1.if Ute►_ar�3orndon or
<br /> rcpair is not cxonnir►icully fcasible or I.ender's security would bc Iessenecl.the insurance procceds sht.11�be applial to th�sutns
<br /> socured by this Security Instrnrncnt, whcther qr not thcr, due, with any cxcess paid to Iiorrower. Tf i3orrowcr abnndotu the
<br /> P�operty. or dacs not answcr within 30 days a noticc from Lender thut the insurancc carricr has offcral tn cettle a claim, d�cn
<br /> L.ender may wllect the insu�sn�c��roceeds. Lender may �se the proceeds to repair or restore the Prop�erty ar to pay sun�s
<br /> secured by th4s SecuPity Instm�ent,whedier or not then due.'Che 30-dny period will Ix:gin when the notice is Riven.
<br /> Unless L.ender and Borror,ver othenvise aFree in wraz:ir��, any appiiqtion uf pr�ceeds to principal shall not extend or
<br /> postponc thc due datc of tine rnonthly payrtit�ts refcrrcd ta in paragr�phs 1 a��d 2 or cl�angc dio a�nount of the payments. If'
<br /> under paragr,�pb•'Il the Property is acqulm,�l�by Lender,Borrower's nfilu do any insurance paliCies anc�proceerJs r+esulting fcotti
<br /> damage to the Pt�,���ertyr.prior tu thc acquisiti�n shall pass to I.�ndcr to the entent of tt►c sums secttred by this Seeurity Instrt�ment
<br /> immodiately priot¢o th,e ucquisition. ' . '
<br /> 6.pccu{wnty,f'reservet6am,Matntena�xx ansl Prot�cSinn of the Property;Borrower's Lo�n A�►plkation; Leasclwlds.
<br /> Borrower shall occupy, establisls,and usc the Prcperty ns Borrawcr'c principal rcsidcnre witl�in sixry days c►Rcr the execution ur
<br /> lliis Sccurity instttiment nnd shn�l continue ro occupy tlie Property as�orrower's principal ��esidenre for at Icast one year after
<br /> the date of oa;up�ncy. unless L.ender otherwisc u�rees in writir.g. wl�ich consent shall not be uncr,�sonabiy withheld,or unless
<br /> extenuatinb circuntstances exist which are bcyond Bon•ower's control. Bonower shall not desus>>�, damage or impair the
<br /> Property. allow tlie Property to deteriorate. or commit�vaste on thc Propeny. 1Borrower shull l�e 3�default if any forfcitu�
<br /> action or procceaing,�vhethcr civil or crimir.al, is begun that in Lender's good faith ja��?Gment sould result In farfeitwC o4'tlic
<br /> f'roperty or othenvise materially impair tl►e lien created by this Security Instcument nr Leader's secur�ty intercat.B�rcower may
<br /> _ cure suct�a default and reinstate.us pmvided in paragraph I8,by cauring clze uction or proceedin�to tse dismissed with a rralinF
<br /> � that, in L.ender's �;aod faith deicrmination, y�e�cludes forFciture of tf�c LYc�rowcr's intcrest in tl�e .�rop=rry or other materinl
<br /> ; ir.ipainnent uf thc•Vicn creatal by this Securfry Instn►ment or L.endci s secvrity interest. Bnrrn�ver shnll also t►e in defnult if
<br /> — Borrower,during thc loan application process,�ave materially fulse or inaccuratc ir�formation or statemcnts to Lender(or failed
<br /> to provide Lender with any rn�terial information)in com�eccion with tlie loan evidenccd by the Note, inctuding.but not limited
<br />— w,r,epresrntations coneeming Earrower's accupancy of the Pro�;c�i�t►s u principal residence.If[his Security Instrument is on� -
<br /> Ieasehold, Bnrrou�.er sl�all coinply with all the provisions oF the lease. If Borrower ncyuires fce title to the 1'roperty, tl�o
<br /> __ leaschold nnd thc�3ce titic�sM�all not mcr�e unle�ss i.ender agrees to the oterger in writing.
<br /> 7.i'rutectton ot Lender's RlgF�ts In the Property.If E3orruwer fails to perform die oovenants nnd ugrcements conwincd in
<br /> this Secueity I�astrument,or there is a lega! pmajoding that may sibnificantly aftact L.ei►der's rights in tite Property(sucl�as a
<br /> — �procecding in bankruptcy,probate,for condemnation or forfciture or to enforce la�vs a�regulations), thcn I.ender n�ay do nnd
<br /> — Qay for�vhatevcr is ncxcssary to prot�t the value of tlie Property and Lendcr's rigltts in the Property. Lender's actim�s may
<br /> mclude payinB ony sams securod by � Ucn which has priority ovcr this 5ecuriry Instrument, ap�e,1�ing in court. paying
<br /> __. rcasonablc attoniays'fces nnd entcrin�on the Propertv to trtnkc rcnai�s. Aldiouch[.endcr mnv tnle uction umier U�is narae�nnh
<br />_- 7. l,endcr docs not have to do so. � ' ` '
<br /> � A�iy an►uunts disbursc�d by Lcnder under tl�is parugrnpl� 7 shall become additional debt of Borrower secured by thls �
<br /> = 5csairiry [nstnrmcnt. Unlcss Rurrnwer and L�:nder agrce to other terms of payment,thesc anwunts shall bear intemst from the
<br /> _ dnte of di�•bursement at t6c Notc; r,�te and shnll bc payable, with intcrest, upon notice fi�om Lcnder to Bomower r�cqucsting
<br /> = payment.
<br /> _ 8.Aio�tgage Insorxnce.If Lencier requi��ed tnortgage insurance as u condition of m:ilcing the loan securccl by this Security
<br /> � Instrun�cnt. gorn►wcr shall pay thc prcmiums reyuirod to nmintain thc nwrtgage insurancc in c�fcxt. (f. for any rc:uon, the
<br /> mortgag�insurance covemgc rcquirM! by l.endcr lapscs or ccascs to be in effect. Borrower sliall pay the pmmiwns rcyuircd w
<br /> — obtai�n covemge suhs►nnti�lly cquivalcnt ro the mortgagc insurancc pteviously in effect,at c�rnst substantially equivalettt to ths
<br /> _ ooai dv Burm�vcr of'the monga�c insttr,incc p�viously in effect, from nn altcrnate mortgage insurcr appmved by Le�xier. If �-
<br /> P•w�o+• Form 3026 8/80
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