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<br /> Thc Fwxl� �hail tk hcid in :ui in�titution whu�c �e{x��it� arc in�ur4J hy a F�dcral agenc�•, instrumcnlaliq•, ar en�ity
<br /> �i�xludiug IArrJrr,if l.c�lcr is.urh;:n institutiunl��r in uny E'ztilrral Ilutiix l.«n 8:►n1,. l.rn.icr�hall apply thc Fu�xi�tu pa>•thc
<br /> Escn,a�Itcnti�. l.c�wlcr ma� tx�t char�c l3.un�wcr f'or FwlJing uixl rppl}Ink thr E�ui�l.. anuually an::lp�ing tlk cwrnu•;ucount, ur _
<br /> veriiying the �.rmw Itrm�,ualc...I.cuct�r p+}.Qorrou•�r int►re��t�m the Furxls a�wl,�pplicahle Ir�u��rntit�L.CnJCr t��nule aach .
<br /> u ch�rge. H„wever. I.rrxkr may nyuin &�rn�w�r to pa� �+�,ne-tinx e!urge Cur•rn e�ukperxlent rcal ra►ate tax rparting s:rci+:e
<br /> u,rJ by [,ctxlcr in tt�iuuiliu�l �ith thir Icun. unle�s ���plirahlc laW� ptoviJe� atix���se. Unlc.. :+n ug���nknt iti nucic �u �
<br /> applirablc law•r�yuiR� intcrr�t ti�t+c paiJ,i.crxlcr shall ixu t�c rcyuircd ta p:►p&�rr��w��r any intcreat ur carning�an thr Fuiuls. _
<br /> qurruK•cr wKi i.���r r�wy aFr.: in::•rite::g. 4x�we�er. ttuit inteh�t stull be t►�id un ttu Fwx1z. l.c�xler ct�all Fice tu Borrawer,
<br /> witluwt rlurge. ar�c�naual u�y�wn�ing u:Ihe [�uixl�. �tu�wing rreditti wxl debits to tltiC E�u�u1c:uul thC purpose iur �vi�i���ca:h _
<br /> Jebit ti,the I�uiu1.ua�m:uic.The Nurxi�ar�pleclFed a�xi�iitiaiul.�.�.urity F.-�r all�ums�ecurcY!hy this Securit?�In��runxnt. _
<br /> If ttu Fu►ul�:l�W by l.ctxler exccti�d the u��xwnt.perntittei!t��be hcld hy appliwhle Inr��. Le►uler �hall account t��&�rn�w�er —
<br /> fi�r tlk ekce���an+l� in •:�t�unlstke with thc rc,��uirenxius uf applicablc law•. lf thr unxwnt aP thc Fuixls h+:ld by Lcndcr:u:uiy =
<br /> timc is iwt wf'�ricnt to pay the E.Krow•Iccn�.c whcn duc.l.e�uic�nuy u+�x�tiPy FioROwc�in writing,a�ul, in au�1��.►k C.�rr.jti,.: _
<br /> sf�ll p:ry tu I.axkr thc am�t►nt rkecs.s;�ry ta uu{�e up the defcicncy. Bum�ucr shsll mzj:c up the deficiaxy in no nwrc Qr.ui _
<br /> twel��c nwnthly paymcnts,at Lender's�le di�cretio�. _
<br /> U��n pa�nxnt in fuU uf al! sum� sccunxl hy this Security lactrum�su. Ltncicr shall pn�mptty refunJ to Borrow•cr wiy _
<br /> Funcis held by Lender. If,mider parag�aph 21, Lencter shall acquire ar�ell the Property.Leiuler,pr►ar to ttse�uqui�ition or wle _
<br /> of t6e Property, st►all apply uny Fuixls held by Le�xler at the.time of xquisitian or sale a�a credit against the sunu sau�al by _
<br /> this;Sc+�urity In�ttumcnt. —.
<br /> 3.Applic.�tion of P+�Smeats•Unlcss applicablc law provides athzrwise.all pal'mems reccived by Le�ulcr wxlcr parugraphs
<br /> � an,12 chAU be��licci: first,ta any prcpayn�ent charges due undcr the Note; secorxl,to anwwus payable under pacagr,►ph 2;
<br /> ilurd,to inten�st due; fcwrth,ro principal due;and I�ct,to any iate ci�arges uue w�;th�.Noi:..
<br /> 4. Charges;Liens• 6orrowcr stiall pay all taxes,:usessntents, chargcs,fincs arui impositions atlritwt•rble ta the Property
<br /> whicli tnay attain priority ovcr this Security Instrument. and le�sehold payments or ground rents, if any. Bottower shall pay
<br /> chcse obligations in the manner pmvided in p;uagruph 2,or if not paid in that mviner,Borrower shal!pay t:�em on time directly
<br /> to thc person owedp.�yukui. �w��oue:shal!prom�tly furnish tn!e!�r all notices of arnounts to be pai�under this pararraph.
<br /> If Borrower makes these payments directly,8orrower shall promptly furnish to Lender receipts evidencmg the payments.
<br /> Bormwer shall prompely discharge any lien which has prioi�ty over thns Security Instrument unless Burrower: (a)ag�ees in
<br /> writing to the payment of the obligation sacured by the lien i�a manner acceptable to Lender;(b)contests in good faith the lien
<br /> by, or defe�ds ugainst enfomment af the lien in, legal proccedings which in the Lender's opinion operate to prevent the
<br /> enfomment of the lien;or(c)secures from the hotder of thc�ien an agreement sAtisfxtory to Lender subordinating the lien to
<br /> this Security lnsitument. If under cieten�u�� �w�a.'►y�..'�af the Png:R;is suh���rn a lien which may attain pnorery over _
<br /> this Scxurity instrumetu,Lender may gice Borrower a notice ideatifying the lien. Borrow�er s}�all satisfy d�e lien or ta1:e one or
<br /> more of the actions set fcrth above wiihin 1�days of the giving of notice.
<br /> g, }�,d � propqKy Iasar�nce, Borrower shall keep the improvements now� eiisting or h�reafter erected on the
<br /> Propeny insurod againct loss by fire, harards included within the term 'extendal coc�r��e" arxl any uther h�rds, including
<br /> floods or flooding,for which Lender requires insur.�nce.'f'his insur�nce shall be maintsir�ed in the anwunts and for the periods
<br /> ehai Lender requires. The insurance c�er providing the insurance sha��be chosen by Borrower subject ta I.en3er's approval
<br /> which st�ll not be unreasonably withheld. if Bormw•er fails to maintain coverage described above,Leaxier may. :.t 1.uyder's
<br /> optinn,obuvn coverage to protect Leixier's rigfits in th:.Progerty in accordanoe w�th paragragh 7.
<br /> pll iasnrance polK�es and renewals shall be�cceptable to I.ender and shall include a standard mortgage clause. Lendet
<br /> shall havo the risht to hold the policies and nnewals•If l.endet reguires,Bonower shall promptly give to Lender all receipts of
<br /> paid Premiams and renewal notices.In the eveut of loss,Bvrrower shall give prompt nati�e to the ussivance carr+er and l�ender•
<br /> Lendor may malce proof of loss if not made prompdy by So�cvW�er.
<br /> Unless l.ender and Borrower otherwise�zt+ee in wnnag.insurance proceeds shall be applied to restoration or repair of the
<br /> propertY damaged,if the resturation or rep�i�is eooc�omically feasible snd I.ender's security is noi lesse:�ed.if the restoration or
<br /> reQair is not economically feasibte or Lender's secarty would be lessened.the insutanoe proceeds sP�all be apPlied to the sums
<br /> SCCUTEA b}r t21is Jecaiity"tistrurttttti. wi�c'u`�i:; oi �wa i w"ti .a.it:.. :.:th:S1) ���,� ra:.i;� Rmm�w�r. Tf Aorrower�ndoas the
<br /> Property,or does nat�r►swer within 3Q days a notice fuom Lendcr P t die insur�carrier has off���e a cl�y, ttxn
<br /> Lender may collect the insurance proceads• Lender ma use the rocceds to r r or restore the or to sums
<br /> seatred by this Socurity Instrument,whether or nat then due.The 30day period wil!begin whet�the notice is given.
<br /> Unless Lender �nd Borrower otherwise agrec in writing. any appl'ucallon of procceds to principal st►�ll not extetxl or
<br /> postpone the due date of the monthly paymenis referred to in paragr.iphs 1 and 2 or ct�ar►ge the amount of the payments. If
<br /> under par�graph 21 the Propetty is acquired by Lender.Borrower's ngnt to any inwruue policies a�ptne�eeQs nsulting from
<br /> clatt�ge to the Propetty prior to the acquisition shall pzcs to Lender co the exte�u of the sums secural by this Secueity Instruu�i
<br /> ;mmodiatdy prior to the acquisitian.
<br /> 6. Oxupvo��.AYServation,lNaiateoaaoe and Protectioa of the Property, Borrowet's I.os�a Appiicatlon;I.e�sebdds.
<br /> Borrowu stull oawpy.establish.and u«the Properry as Borrower's pnncipal residence within sixt3+days after the eaecution of
<br /> this Security Ituttu�and sh�11 cont� 'o occupy the Prop�rty u Borrower's principal residence for �t le�i one year�fter
<br /> the d�te of occuputicy,unless ixnder otherwise agrees in writing,which consent shatl not be unreasonably withheld, or unless
<br /> extenuatiug circumstanees exist which u�e beyond Borrower's control. Borrower sIn11 not destroy, dam•rge or impair the
<br /> �rvpa�cy, ai;uw «� F.�.. :a dcicriar*e. os eos*_Lm�r wacr�� the Propercv. Borrower shall be in default if any fort'eitare
<br /> action or proaoeding, whether c�vil or criminal, is begun that in Lendcr's good faith judgment could resutt in forfeiture oi ti�e
<br /> Proprrty os�oi�hetv+ise materially impair the lien creatad by this Security Instnunent or ixnder's security interest. Borrowa mzy
<br /> cun wch a tkfault and ttinstate,ac providod in paragraph 18.by causing the action or proceeding to be dismissed with a ruliu,g
<br /> tltat. in Leader's good faith decermination, procludes forfeiture of the Borrower's interest in the Property or dher materi�9
<br /> im�irmau of the lien crratad by this Security insttument or l.ender's securiry intetest. Borrower s}�all also be ite deCaulc if
<br /> Borrower,during the loan�ppl►cation process•8ave materially f�lse or inaccunte infom�ation ot stautnents to[�ettdu(or failed
<br /> to pcovide i.ender with any mateii�l infom�atioo)in catu�ection with the loan evidenced by the Note,including,iwt not limited
<br /> to.repr�tatia►t oonarnmg Borrower's axvpaacy of the Protxrcy u a principal residenoe. If this Security Iiutivmeru is on a
<br /> leas�hold, Borrower st�ll rnmply with all the p�ovisions of the lease. If Bomower xquires fize tide to the Property. the
<br /> teasehol4 u�d the fee title slull not merge unless l.ender�grees to the merger in writing.
<br /> 7.Protectioo of Lea�fer's Rights in tbe Prupe+'ty.If Bo*rower fails to perform.the oovenants and agr�ts cont�inul in
<br /> thic Secvrity Lutrument, or then is a legal proceedin8 tt�at maY significandy affect Lender's rights in the Property (.such as a
<br /> _ p�ing in hankn�ptcy, probate, for oondemn�tion or forfeituce or to enforce laws or reguiations).then Lender may do and
<br /> pay for wnatevcr i� ��a.�ss�y ta pr�ieei L::v�us of the Prowsty as�Lender's rioMs in the Pro�crty- I.esrle*'s aciioas azay
<br /> include paying any sums sxured by a iien which hac priority over this Socuriry InsUVment. appearing in oourt. poY�ng
<br />— reason�ble attomeys' fees and entering e,the Property to make repairs.AItFKwgh Lender may taice xdon�nder this PuaB*aPh
<br />= 7.Lender does not have to do so.
<br />. Any urwunts dislwrsod by Lender under this paragn�ph 7 shall become additional debt of Borrower secured by this
<br /> Security Instrumoat. Unkss Borrowcr and i.erxicr agree to�ther temu of paym.ent,these arnounts shall bear interest from the
<br />— d�te of disbursement at the I�tote rate and st�all be payable. wit;� intetest. upon notice from l.ender to Borrower requesting
<br />= PaY�u.
<br />— 8.b�at�ge Iawraua. if Lender required mortg�e inwrar�ce as a condition of malcing the losn srcured by this Security
<br />-= instran�ent, Borrower shall pay the premiums requireJ to maintain the mortgage iawr,utice in effect. If, for any ccason, the
<br /> - mortgage insoratxe rnverage raquired by Lender lapse�or cezses to be in effect. Borrower sh�1�paY the premiums reyuired to
<br /> = obtain cover,�e substantially equivalent to the mortgage inwrance pr+evicwsl)'in effect,at a cost subst�r►tially equivaZent to the
<br /> = cost to Borrower of the mortgage insurance previously in effect. from au altemate noortg,�ge inwres apProcecl by Lendcr. If
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