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<br /> 96� 1�3�5
<br /> Tl�c Funds shall bc hcld in nn institution whu5c depovits iirc in,urcd Uy �� fr.dc:i�al a�ency, in:trumcntality, ur entlty _
<br /> (includin�Lender, if I.ender is tiuch nn ii�stiurtinn)��r in+iny Pederiil Home l.oan I�n��k. I.c:nder tih�dl t�pply the Fundti to p�iy the y
<br /> Lscrov� Itcni�. I.c��dcr mny nut chi��•�;c llor►•uwcr Gir huldin�; �md npplyin�;thc I'unds,unnually nnnly�in�,thc cscrow uccount.or �
<br /> vcrify in� thc k?scrow Itcros, unless IAnQcr pays klon•o�vcr intcrc.r•t an thc►�uudti iuid ap�licublc luw pc►•mits l,�ndcr tu mukc 4ucl�
<br /> n chnrgc. Hawevcr, L.endcr miiy �cquirc Ciorrowce to pay n onc•timc churgc fnr an inc�cpcndcnt rc;d cytutc uix rcp��rtin� scrvlrc �:
<br /> used by Lend�r in canncctio�a wilh �hls loan, unless nppUcahle Inw providey nthcrwisa Unless un ngrcenunt Is mude or �_
<br /> uppllcablc Inw rcyuires intcrest lo bc paid, Lender shidl not he rcquircd to piry Borrowcr imy intcrest or ciunings un tlic�unds. �
<br /> Rorrowc:and I.cndcr m;►y agrcc!n airiti�ig, Il(1\4CVCC, thttt intcrrst�h��ll hc p:dd on the Funds. l..cndcr sl�ull�;Ivc tn Rnrruwcr, _
<br /> withcut char6e, nn nnnunl acrnanting oP d►e Punds, tihnwing crc�ilts ntid debits to the Funds und thc purpo�c far whlch euch
<br /> debit w tlie Fuudti wus ma�1c.1'hu f uiids are pledged us.idclitionnl secm•iry,for all sums secmrd by this Security Instrutnent. p-''
<br /> �. �_.. . _...,.._ �..�!:;r:;.^,as:t c:;BL:s::ret
<br /> If thc Funds hcld by I..endcr excced mc amounis permiiw,i w o�i�ciu uy��N��i��u������w, �...u4�� ^���+.
<br /> far the cxce.,s Punds in uccordnnce with the rcquirements uf upplicuble Inw. If thc nmount of thc Funds hcld by L.cndcr ut uny
<br /> time is not fiufficicnt to pay the Escrow Items when due.[.ender muy so notify Borrowcr in writing,nnd, in such cuse 8orrower
<br /> shull pay to L.ender thr, umount nccessury to muke up thc deficiency. Borrower shall nuike up the deficicncy iu no more thun
<br /> twelve monthly puyments,at Lcnder'S sole discrction.
<br /> Upcm payment in full of ull sums sccurc�l by this Sccurity Instrumcnt, Li:ndcr shull promptly refund to Horrawer uny
<br /> Funds{teld by I.endcr. [f,undcr paruBrnptt 2l, l.�:ndcr sh111 �uquirc or scll thc Properry, Lcndcr, prior to thc acquisition or salc _
<br /> of thc Property,shull upply uny Funds hcld by I.cndcr at thc timc of ucquisiti��n or salc.ts u crcdit ugainst thc sums sccurc.�f by
<br /> this 5ccurity Instrumcnt.
<br /> 3.Apnlicatton of Pnymen�s. Unless upplicablc law provides otherwise,all paymcnts receivcci by Lcndcr under purugrnphs
<br /> 1 and 2 shall be applicd: �rst, to any prepaymcnt charges due undcr thc Note; second, ta umounts payt�blc undcr paragraph 2;
<br /> third,to interest dce; fourth,ta princ�pal due;arid last.to any lute charges due under the Nate.
<br /> 4. Ctiarges; Liens. Borrower shall pny all uuces. rusessments, charges. fines and impc�sitions attributable to the Property
<br /> � �vhich rriay ntt�ln priority ovr,r this Securlty Instrument, nnd lensehold payments or gronnd rentr,, if any. Borrowcr shall pay G
<br /> these obligations in tbe manncr pruvided i��parAgraph 2,or if not paid in that manner,Borrower shall p»y them on time directly �
<br /> to the person owed payment. Borrower sh�ll promptly fumish ta Lender nll notices of amounts to be paid under this puragraph.
<br /> If Borrower makes these payments directly,Honower shall promptly furnish to l.ender receipts evidcncing the puyrrients.
<br /> Borrower shall promptly dischaege nny lien which hus priortty over this Securit,y Instrument unless Borrower:(a)agrees in
<br /> wdting to the payment of the obligution secured by the lien in a manner acceptuble to L.ender; (b)contests in good fnith the lien
<br /> by, or defends agninst enForcement of the licn in, legal proceedings which in the Lender's opinion operate to prevent tlie
<br /> enforcemcnt of the Ilen;or(c)secures fram the holder of the licn an agreement satisfactory to I..ender subordinuting the lien to
<br /> this Security Instrument. If Lender determines that uny part of thc Property is subject to a lien whlch may attuin pdority over
<br /> thfs Security Instn►ment, Lender mny give Borrower a notice identifying the lien. Borrower snall satisfy the lien or take one or
<br /> tnore of tlie actions set forth above within 10 days of the giving of notice.
<br /> S. Hazard or Property Insurance. Horrower shall keep the improvements now existing or hereafter crected on thc
<br /> Propertl► insured against Ioss by fire, I�azards include+�within tho term "extended coveruge" and any other hazatds, including
<br /> tloods or floodins,for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods
<br /> thut I.ettder requires. The insu[unce carncc p�uvtdi��� ti-« i�s�rastx olz:.!! be cho°..en�; B�rro�er s�!�+,�ect r� Trnder'c unnrovnl
<br /> which shall not be unreasonably withheld. If Borrower fnils to m�intain coverage described above. Lender may, at I.cnder's
<br /> aption,obtein coverage to protect Lender's rights in the Property in accordance with paragraph 7.
<br /> All insurance poltcies and renewals shall be acceptable to Lcnder and shall includc a standard mortgage clause. L.ender
<br /> shall have the risht to hotd the policies and renewuls. If Lender requires,Bonower shaU promptly give to Lender all receipts of
<br /> paid premiums and renewal notices.In the event of loss,Borrower shal!give prompt notice to the insurance carrier and Lender.
<br /> Lender�nny make proof of lass if not made promptly by Borrower.
<br /> Unless I.ender and Borrower othetivise agree in writing,insurance proceeds shall be applied to restoration or repair of the
<br /> Property damaged,if the restoration or rcpair is economically feasible and Lender's secutity�s not Icssened.lf the restoratton or
<br /> repair is not economically feasible or Lender's security�vould be le.ssened, the insurunce proceeds shell be applied to the sums
<br /> secumd by this Securiry Instrument, whether or not theu due. with any r:xcess p�id to Borrower. If Borrower abandons the
<br /> Property,or daes not answer within 30 days u notice from Ixnder that the insurance carrier has offeral to settle a claim, then
<br /> L.eRder may collect che insurancc proceeds. Lender may use the procecds to repair or restore the Property or to pay sums
<br /> secured by this Security Instrument,whether or not then due.The 30-day period will begin when the notice is given.
<br /> � Unless Lender rand Borro�ver otherwise agrce in writing, uny applicauun of proceeds to principal shall not cxtend or
<br /> postpone�he due date of thc monthly p�►yments refcrned to in parngraphs 1 und 2 or change the umount of the payments. If
<br /> ' under paragc�ph 21 the Property is ncquired by Lender,13onower's right to any insurance policies and pracetds resulting from
<br /> damage to the Property prior to the acquisition shall pass to Lender to the extent af the sums secured by this Seeuriry Instnunent
<br /> inunediately prior to the acquisltion. �
<br /> 6.OaupArtcy,l'reservA�bn,Malntenance and Protection of the Property; Borrower y Loun Appllcatfon;I.caseholds.
<br /> Wrrow:,r sti:Jl ac:apy,ess3blish,�s:�sse tha Propeny a�Rorrower's prynciral rrcidencc within sixty days nfter the execution of
<br /> � this Security Instrument and shall continue to occupy the Property as Bonower's principal residence for ut least one year after
<br /> the date of occapancy,unless Lender otherwise agrees in wrlting, which consent shall not be unrcusonably withheld.or unless
<br /> extenuating circumstances exist which are bayond Borrower's wntrol. Borrower shall not destroy, damage or impair the
<br /> PropeRy,allow the Property to deteriorate, or commit waste un tlie Property. Bonowcr shull be in default if any forfeiture
<br /> ' action or proceeding. whether civil or criminal, is begun that in Lcnder's good faith judgment coutd result in forfelture of the
<br /> Property or otlterwise materially impair the licn created by this Security Instrument or Lendcr's Fecurity intcrest. Borrower may
<br /> cure sucha default and relnstate,as provided in paragraph 18,by causing the action or procealing to be dismissed with a ruling
<br /> thnt, in Lender's good faith dctercnination, precludes forfeiture of the Borrower's interest in the Property or other materi�l
<br /> impairment of t{ie lien createrJ by this 5ecurity Instrument or Lender's security intere.st. Harrower shall ulso be in default if
<br /> Borrowcr,dnring the loan applicatlon process,gavc matcrially false or inaccurate information or stntements to Lender(or fnilal
<br /> to pmvide Lender with any materiul information)in connection with the loan evidenceci by the Note, including, but not limited
<br /> to,representations concerning Borrower's occupancy of the Property us a principal residence. If this Security Instrument is on a
<br /> leasehold, Borroµer shnll comply with all the provisions of the lease. [f Borrower ucquires fee title to the Prolx:rty, the
<br /> Icuschold and thc fcc titte shull not merge ur�lcss I.ender agrccs to the mer�er in writing.
<br /> 7. Protpction of Lender's Rights in the['�roperty.If Borrower fctils to perform the covenants and agreements contained in
<br /> this Security Instrument, or there is u legal procecding tbaE m�y significantly affect Lender's rights in thc Property (such as a
<br /> proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and
<br /> �ay for whatever is necessary to protect the�•alue of tlie Prope►�ty and Lender's rights in thc Property. L.ender's actions may
<br /> include navin� any sums secumd by a lien which has priortty over this Security Instrumcnt, appearing in court, paying
<br /> reasonable�attorneys' fees and entering on the Property to matce repairs.Aiinou�n i,ender may iaKa��i�on u��ucr�i���pu�ab��N,�
<br /> 7,L.ender daes not hAVC to do so.
<br /> Any amounts disbursed by Lender undcr this paragraph 7 sh�ll become additionul debt of Borrower secureci by this
<br /> Security Instrum:nt. Unless Borrower and L�;ndcr abree to other terms of payment, these amounts shull bear interest f'rom the
<br /> datc of disbursement at the Note rutc und shall bc paynblc, with intcrest, upon noticc from L.ender to Borrower rcquesting
<br />- payment.
<br /> S. Mortgage Insurnnce.If Lendcr rcquired mort�;age insurancc as n condition of making thc loan sccurcd by this Security
<br />- Instrumcnt, Borrower shall pay the premiums rcquired to maintain the mongugc insurancc in effcct. If, for any reason, thc
<br /> = mort�age insurance coverage required by Lender lapses or ceases to be in effi;ct. Borrower shall pt�y the premiums requirccl ro
<br />- obtain coverage srb�tuntially equivalent to the niortgage insurunce previously in cffect, at ,t cost substantially equivi�lent to the
<br />_ �ost to Borrower of the mortgagc insurancc p��cviously in cffcct. from�in altcrnnte mortgagc insurcr approvui by Lender. If
<br />— � aeyo 2 0�a Form 3028 8190
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