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<br /> 7'he Futx1� shall he hrld in an iu:tiw►ion wiwK tkporits ;►re ineurcYl h�� a Pc�lcral�r xy'. i��``���� entit�•
<br /> (irulu�iti� Lri�irr.it Lc»d..r is such;ui in.titutiu�il��i• i��utir�1'.�teral Non�e l.��an l�ant�.Lrixler ��ti uppty tlk c'"un.i:t�p:�}•th:
<br /> �xn�u�itcuu. f�..e�:niay �xK char�e&ur��wcr fur h.dJing a�ul:y�plying the Funelc, annu:+lly analy�in�t thr ckruw•:u�•runt, ur
<br /> �c�iivLib�K LK�\>w lt:ms. ur,!;::: '�r.:l�r�»;�u!'rrtiwPr i�uprc�t nn t}u kuuJs:u�:l dUDlirJbl: la�ti•{krmitc i.�n�lcr tu nwl.c�uct►
<br /> a cf�:ugc. Nowcvc�. I.e�xk� nuy rcyulre Barruwer tu pay a nnc-diz�e rFurge li�r a��inciepeixlcnt rcil c:tate tax rc�x�nin�;ac��1��
<br /> u.�:.l by� i.aukr in cwukrtion w•ith this lo:tti, untcss applirable law pravidcs �1llll'M'IK. UIIII'SS un ��!nrnxnt iti nudc ur
<br /> ap�►li:.ahl�law :��uims interest tc�!�e paid, Le�xicr�h�ll �xa be ru{uired to p�y Borrow�cr any�intemst��r rurnings un thc 1'uiuls.
<br /> 8.�:ra�.er �n:!:.�rr.lef!tLY �arvr ,�,w��+��no: tH�w•e�cr. that interest�}ull be paid an thc F:�ixt�. Lcrxirr ti!ull gi�•e ta Sc�rmwrr.
<br /> withvut rhar�r, un aiutu•rl acecwnting uf ttt� Funds. �iwing creditv a�l debit�t�►thc i�ucui.� :uul the pur{x�s�: futi v.•1-�ic�c:»h _
<br /> dcbit to the Fuiuls w•as n�ade.The Fwxls aro plcdgaf:►a:ulcfitiunal seiurity fi�r all tiumr ux:unYl b��thi�Ser•uritp lnctrum.^nl.
<br /> !F th:Funds held by Lend:r exceec!Ihe anu�unts permitted to be iuld by applicable law,Lcndcr�hall ;�ti.�unt to Borrower
<br /> for the exees.c�uncl�iro aeronlan�e with the n.-quirements of applicable iaw. if thc amcw�u of the Funds held t+y L,e�Wee ut;�7
<br /> timc is not suft�cient to pzy tlt:Escrow Items when due,Lender may so notify&�rcoK•er in u•riting, aix1. in such case Bottoaer
<br /> shall p�y to l.ceuier thc w�xwnt necessary to make up the deficiency. Borrower sltull n�:e up the dcficiency in no nwro ti�:u�
<br /> twelve mt�ruhly payn�ents,at Lender's wle disc:retion.
<br /> Upon payn�ent in futl of all sums secu�ed by this Sec�rity Instrument, L.ender shall prrnnpdy� refund to Bonower any
<br /> Funds held by l.endcr. ji,under paragr�ph 21, l.ender shalt acquire or sell the Praperey. Irender,priar ta the acquisitian ar�ale
<br /> of the P►•aperty, shall apply u�y Funds held by Lxnder at the time oi'acyuisition or sale as a craiit against the sunu secured by
<br /> this Security Instrument. •
<br /> 3.Applicatlon of Poymei�ts. Unless applicable law pro�•idrs otherwise,all payments received by L.ender under raragtaphs
<br /> 1 and 2 shall be applied:first,to any prepayment charges due under the Note; second,to�mow'�ts pa}'able under paragraph 2:
<br /> thi�d,to interest due;fourth,to pri�xipal due;und last.to any late charges due under the Note.
<br /> 4.Cdarges;I.ieac.Bnrrower shall pay all taxc�,a�ssessments, charges, fines and impositions�ttributebte to the Propeny
<br /> which may attain priority ocer this Secvnty Instrvme:�c, and le.�sehold payments ar ground rents, if any.Ei:�rrower shall pay
<br />- these obligutions in the manner provid.n£in paragraph 2.or if not pa:cf in that manner,Borrower shall pay them on time directly
<br />- to the person owed payment.Borrower shall promptly fumish to LcaaEcr all notices of arnounts to be paid under this paragtsph.
<br />� If Bonower tnakes these paFments directly,Borrower shall promptly fumish to Lender receipts evidencin�the payments.
<br /> Bosro�•tr shall p•�omn�l.discharce any lien which has pnonty over this Security Instrument unless Fortower: (a> agrees in
<br /> writing to the paymcnt of tbe obligation secured by the lien in a tnanner acceptaBle to Lender; lb)conte�i,in goi,:fai:.'�th�:ic:
<br /> by. or dtfends against enforcement of the lien in, tega! proceeetings which in the l.ender's opinion operate to prevent the
<br />° enforc�xnt af the lien;or(c)secures from the holder of the lien an ugreement satisfactory to l.ender subordinating the lien to
<br /> this Security Instrumer.t.if Lender deteimines that any part of the Property is subject to a lien which may attain priority over
<br /> _ this Sxurity Instrun�ent,Lender�-�ay give Borrower a notice identifying the lien.Bonawer shall satisfy tne lien ar taice one or
<br /> more of the actiotu set forth above within 10 days of the giving of notice.
<br /> 5. fia�rd or Property Insurance• Bonow•er shall keep the impmvements now eaisting or hereafter erected on the
<br /> Proporty insured againct loss by fire,hazards included within the term 'extended coverage" and any uther hazards, including
<br /> floc�ds or flooding, for which Lender requires insurance. This insurance shaU be maintained in the a�nounts and for the pesiods
<br /> that Lender requires. The insurance camer providing the insuranee sha11 be chosen by Borrower subject to I.,ender's apnc�.��'al
<br /> which sha11 r►ot be unreawnably withheld. If Borra�rr fails to maintain coverage desc�ibed above. I.ender maY. at Le°cL:s�s
<br /> option,obtain rnverage to ptotect Lender's rights in th�Property in acwrdance with puagrlph 7.
<br /> All insurance pofu�es and renewals shall be aati^ptable to Lender and shat! include a standard mortgage clause. Lender
<br /> shall have the right to hc�tc�the policies and renewals.If Lender requires.Borrow�er shall pro�npely give to Leade:all receipts of
<br /> paid premi�ms and renewal notices.In the event of toss,Bottower shall give prompt notice to the insurance carrier and I�x1er.
<br /> I.et�der may make proo�of loss if not a►ade promptly by Borro��er.
<br /> t inlrcc I�.�frs and 6urrower ottxrwise agiee ia w'nhng, insuranee proceeds shall be appiied to restor�tion or repzir of the
<br /> i opzrty damagd,if s.��eestorsiion or repair is eau�c�mically feasible and l.ender`s securiry is noc icsscnai.ic u�c�cxv.+i;w.a: � --
<br /> rep�ir is not econamiealt�- fta5ible or Lender's secaric�would be lessened. the insarance procceds shall ix applied ta the sumc
<br /> secured b} this Security Insuvment,whether or not ti�en due, vrith uny excess paid to Borrower. If Borrc>wer abandoos the
<br /> property,or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim,then
<br /> Lender may collect the insurance proceeds. Lender may use che procceds to repair or restore the Property or to pay stuns
<br /> socured by tl�is Sxurity iastrument.whether or not then due.The 30-day pea:od will be�in when the notia is grven.
<br /> Unless L,rnder and �orrower othenvise agree in writing, any applicanon of proceeds to principal sh�ll not extend or
<br /> postpone the dne date of the montt►ly payments refemd to in paragraphs 1 and 2 or change the amount of the payrnents. If
<br /> utsder parigraph 21 the Property is acquired by Lender,Borrower's right to any insurutice policies u�d Pro�s resulting from
<br /> damAge to the Property prior to the acquisition shall pass to Lender to the extent of the swn5 secured by this Securiry Instnunent
<br /> immediately prior w the acquisition.
<br /> 6.Oaup�ncy.Pnsei'v9tton.N1�nt�nance aad Protectioa ot We Property;,Bwrower's Loaa Appli�tba;Leacelrolds.
<br /> _ �_.. __�..��;�����,�;�;�a.���•►,�p.y,�y ac Rrrmwer's principal tes�dence witt►in sizry days af�er the exavtion of
<br /> norruwci a��aa.�...�
<br /> this Securiry Instn�ment and sha1� continue to occupy t3�e Propert7+as Borrower's prir.cipal residence for�t G:ast on�year aiter
<br /> the date of occupancy.unleccs I.ender otherwise agrces in writing,which constnt sh�ll not be unreasonably withheJd,or unless
<br /> exu,�u�ating circumstances exist which are beyond BotiYOwer's oonuol. Borrower shall noi 3estroy. da�nage or impair the
<br /> Propqty,allow the Property to deteriorate, or commit waste on the Property. Bonower shall be in default�f any forfeiture
<br /> xtion or proceeding, whet}�et civil or crimit�l,is begun that in Lender's good faith judgment could result in forfeiture of the
<br /> Property or otherwise materi�lly impair the lien cre�ted by this Security Instrument or I.ender's security interest. Sorrower mzy
<br /> cure such a default and reitutate.as provided in paragraph 18,by causing the action or proceeding to be dismissed with a�viing
<br /> that, in Lender's good faith determination, prectodes fotfeiture of the Borrower's interest in the Property or other material
<br /> imptimient of the lien crezted by this Securiry lnstrument or Lender's socurity interest.Borrower shal(also be in def�uit if
<br /> Borrower,during the loan application process,gave materially false or inaccurate infortnation or statements to L.ender(or failed
<br /> co provide Lender with any material information)in oonnection with the loan evider�ced by the Note, including, but not limited
<br /> — to,representations concern�ng Borrower's c�ccupancy of the Property as a principal residenee. If this Security Instrumcnt is oa�
<br /> — teaxl�old. Borrower shall camply with a11.the provisions of the leaee. If Borrower aoquires fee tide to the Property. the
<br /> ie�selio1d a�the fee tide shall not merge unless Lender agrees to the merger in writing.
<br /> — 7.i�rutectlou oY I.e�1er's Rights is�tme Properiy.If Borrowcr fails to porForm the coveflants and�greements conttined in
<br /> - this Security Inctrument. or there is a legal proceEding tE►at may significantSy affect L.enJer'��ighU @� �hz�coE...�sty Esucts=;�
<br /> = praoeeding in bankrupccy,probate. for condemnation ot forfeiture or to enforce laws or regulations). then Lender maY do and
<br /> pay for whatever is rxcessary to protect the value of the Property and Lender's rights in the Property.Lender's actioas may
<br /> -- mclude paying any surtu secuted by a lien which haa pnonty ov�r this Security Inur�ment, appeanng in cuurt. paY�nS
<br /> - rezsonabte attomeys' fees and entering on the Property to malce repairs.Altliougl�Lender maY ta1�e a�-'eioa under this para�raph .
<br /> — 7. Lender does not have to do so.
<br /> - My amounts disbursed by I.ender under this paragr�ph 7 s�all become additiotul debt of Borrower se:.ured by this
<br /> � Security Instr�ment. Unless Borrower and Lender�gree to osher terms of'payment.these anwunts shall bear incerai t'rom the.
<br />�� date of d�sbursement ac the Note rate and shall be payable, with interest, upon iwiicc from Lender to Borrower reguestiag
<br /> payment.
<br />" 8.Mortgage Iruursnce. If I.ender roquired mortgage insurance as a condition of�nal•ing the loan saured by this 5ecurity
<br /> lnstrument, Borrower shall pay the prenuums requirod to maintain the mortgage iruurarKC �n effect. (f, fot any re�on, the
<br /> mortgage insurance covenge required by Lender lapses or ceases to be in effect. Borrow�er shall pay tt�e premiums required ro
<br /> otuain coverage substantial[y equivalent to the mongage insurance previously in effect, at a cost substantialty equivalent ta the
<br /> cost to Borcower of the morcgage insurance prcviously in effect, from an altemate mortgage insurer approved by Lender. IP
<br /> wo.�a a Fam 302Q 9f90
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