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<br /> The Funds shall bc hcld in i�n in�;titution v,hose deposits ure insurcd by a federal agcncy. instrumentality, or entity _
<br /> (including L.endcr,if I.cnder is such nn instiwtion)or in any Fccicral Homc Lcan Bank. L.cndcr shull apply thc Furds to pay thc ___'
<br /> Escrow Itcros. Lcnilcr may not churgc parrnwcr for holdinb nnd applying thc Funds, annually unalyzing thc escrow account,or �
<br /> . vcrifyin�t{�c Escrow ltems, unlcss L.cndc:r pays 8orrower interest on tlic Funds;md applicable Inw permit�I,ender to muke snch �
<br /> • a char�e. Howcvcr, I.�nder muy requirc Burrower ta pay a ona timc:hargc for an indepcndcnt rcul ctitatc tux rcporling scrvice _
<br /> used by L.ender in cunnection with this loan, unless applicnblc law provides otherwise. Unless an agreement is made or _
<br /> �i applicablc Inw requires interes� tu bc paid,Lender shall nat be requireci ro pay Borrnwr.r nny intcrect or carnings on thc Funds. _
<br /> Borrowcr and L,cnder may agrec in �vnt�ng, howcver, thut interest shnll bc paid on the Funds. l.ender shaq givc to Borra�vcr, �
<br />, • • , � p� wilhout charge, mi annual accounting of the Funds, showing credits und debits to the Funds and the purpose for which each -
<br /> •� debit to the Funds wns made.'fhe Funds are pledged as additianal sccurity for ull sums securcd by this Security Instru�ncnt.
<br /> Ii tlie Funds li�ld by Lcadcr cxcc;cd thc amounts permittcd to bc hcld b)•applicablc la�v, 1 xndcr shall ticcount to Borro�vcr �-
<br /> ' f� for the excess Funds in a�cordance�vith the rcquirements of applicable law. If the amount of the Funds held by Lender ut any
<br /> �:•';`��.�•���� timc is not sufticient to pay the Escrow Items when ciuc, I.ender may so notify Borrowcr in writing,and, in such case Horrower _
<br /> , "- 'b shall pay to I.ender the amount necessary to muke up the Jeficicncy. Borrower shall make up the deficiency in no more than _
<br /> twelve monthly payments,at Lender's aole discretion.
<br /> �F Upon payment in full of uU sums sccured by this Security Instrumcnt, Lendcr shall promptly refund ro Barrower any
<br /> . � � Funds held by Lender.If, undcr paragraph 21,Lender shall ncquire or sell the Property, Lender,prior to the acquisition or sule __
<br /> � .. r � of Qie Property, shaU apply any Funds held by Lender ut the time af acquisition or sale as a credit against the sums securui by -
<br /> _ � � � this Security Instrument.
<br />- �:;,,".'::��•; 3.A licution of Pa ments. Unless a licable law rovides othenvise,all a ments rcceived b Lender under parAgraphs
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<br /> ��:; ;, . 1 und 2 shall be applied: first, to any prepnyment charges due undcr the Note: second,to amaunts payable under parngraph 2;
<br /> r., - •.�' ', ehird, to in[erest due;founh,ta principal due;and last,to arry lnte charges due uuder che Nute. =-
<br /> `��v,.s�"'r'� 4. Chu► es; Uens. Barro�ver shall a all ¢axes, assessments, char e� tines and im ositions attributable to thc Prop�:rty _
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<br />''"�'�i�°��t�r'•��' , he e obli at os in he manner Ihov ded ntYara ra h 2t�or if notscaidan thamm�n er B n wer shallf pay thIIn on timehd Irecdy
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<br /> �r�a:���;.�•% . to the person owed payment. Horro«•cr shall proinptly lurnish to I.ender all notices of amounts to bc paid under this paragrnph.
<br />__,;;,�..�y�. If Borrower makes these payments directly,Borrower shall promptly furnish to Lender receipts evidencing the payments.
<br />�-."�y.;�';;,,,: � Borrower shall promptly discharge �ny lien which has priority over this Sewrity Instrurnent unless Borrawer: (a)agrees in
<br />••_;�,,�'; ,•;rSE� writing to the payment of the obligation secured by the lien in a manner acccptuble to Lender; (b)contests in go�x1 faith the lien
<br /> ==.�Jt�fr��t:rr b or defends a ainst enforcement of the lien in, lesal procecdings which in the Lender's opinion operate to prevent the
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<br />_,�::;�,ti,;V�'��}.?}4 enforccment of the lien; or(c) �ecures from the holder of the lien an agre�:ment satisfactary to I.ender subordinating the lien to
<br /> = this Security Instn►ment. If Lender determines that any part af the Property is subject to n lien which may attain priority over
<br /> ���;���• this Security Instrument, L.ender may give Borrower a notice identifying the lien. Bonower shull satisfy the iien or take one or
<br /> __,�,-„;.,. - more of the uctions set forth above within 10 days o;the giving of notice.
<br /> --=��� S. Hazurd or Property Insurance. Rorrower shall keep [he improvements now existing or hereafter erected on the
<br /> -"'"`��� Property insured ugainst loss by fire,hazards included within the ternt "extended covernge" und any other hazards, includinb
<br /> -.�;LO;'r�.,,'�'� floods or tlooding, for which I.ender tequires insurance. This insurunce shall be maintained in the amounts and for the��riods
<br /> ��:,:;,_�,�,� that Lender requires.The insurnnce ramer providing the insurAnce shall be chosen by Sorrower subjeGt ro Lender's approval
<br /> _,.,���� which shall not be unreasonab'ly witnnald. Ii isoROwcr. iaila iu muiutaiu wveiuge ua;c�t� at:,rc, I.en�c.mw;, si �n�r's
<br /> =�—� option,obtain covarnge to protect I.ender's rights in the Property in accordance with paragruph 7.
<br /> _-__-�� All insurance pol�cies and renevials shall be ncceptable to L.ender and shall include a standard mortgage clnuse. I.ender
<br /> ==---- shull have the iight to hold the policies and renewals. If Lender roquires,Borrower shall promptly give to Lender all rcceipts of
<br /> �� paid premiums nnd renewal notices.In the event of loss, Horro�ver shaJl give pronipt noticc to the insurance carriex nnd i.cncic.�'.
<br /> --- _= Lender may make proof of loss tf not made prompily by Horrower.
<br /> IInless Lcnder nnd Borrower othenvise ugree in writing,insurance proceeds shull be applied to restorntian.or repair of the
<br /> Y Property damaged, �f the restorntton or repair is emnomically feasible and[.ender's security is not lesseneA. If the restoration or
<br /> -----= repa�r ts not economically feasible or T ender's security would be lessened, the insurance proceeds shall be applied to the sums
<br /> �-_=— secured by this Security Instrum�nt,whethcr or not then due, with any excess paid to Aorm�ver. If Bono�vcr abandons the
<br /> Property, or does not ans�ver within 30 days a notice from Lender thac the insurance camec h2s offareti to settle a claim,then
<br /> Lender mny collect the insurance pror.eeds. Lertder may use the proceeds to repair or restore the Prape�j or to pay sums
<br /> -� secured by this Security tnstrument,whether or not th2n dua.The 30-day pe�ioit will begin when th�notic�t is grven.
<br /> Uriless Lender and Borrower othenviso t�gree in writing, any opplicudon of praceecls to principal shall not extend or
<br /> ���!' postpoiie the due date of the monthly payments reFerred io in paragraphs 1 aa�2 or change thc amount of the payments. if
<br /> -- --- uncier paragi+y,i�21 tt.t:.�t.:..~.�:�s:.,eir='!b)�T PnAPr. Anm.►wer's rieht to any insurance volicies and procc:eds resulting from
<br /> �-_== dam3gc to the Property prtor tn tt�e acquisition shall pass tu Wnder ta the extent of the sums secured by this Security Instrument
<br /> _ ____-_ _—,.� immediaLely prior to the acquisition. °�
<br /> = 6.Occupancy,Pre.servation, Maintertance and Protection of the P�operty;13orrower's I,oea A�aplicatton;I.easeholds.
<br /> Borrower sl�al!occupy,esk�blish,and use the Property as Borrower's principal residence within sixry d�ys ufter the execution of
<br /> this Sccurlty Instrument and shull wntinue to occupy the Property as Borrower's principal residence for at least one ycar after
<br /> — the date of occupancy, unless I,ender otherwise agrees in writing, which cons�nt shall not be unre;,sonably withheld,or unless
<br /> extenunting circumstnnces exist which are beyond Borrower's control. Borrower shull not destroy. damagc or impair the
<br /> Property, ullow die Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture
<br /> — action or proceeding,w�hetlier civil or crimin�l, is begun that in Lender's�ood faith judgment could result in forfeiture of the
<br /> —= Property or otherwise materially imp�ir the lic�n cruated by this Security Instrument or Lender's security interest. Borrower may
<br /> � cure such a def�ult and reinstate,as provided in p�uagraph l8,by c¢using the actian or procecding to be dismissed with a ruling
<br /> _- _ that, in 1.ender's good faith dcienninAtion, precludes forfciture of the Borro�ver's intemst In thc i'ruperty or other material
<br /> � -- impairment of the licn creat�d by this Securiry Instrumcnt or Lender's security inierest. Bon•ower shall also be in default if
<br /> --------�; B�onower, durin�the loan application process,�ave materially false or inaccurate Information or statem�nts tn Lender(or failed
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