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<br /> 'fhc funds shall bc hcld in an institution whosc deposits arc insurcd by u faicrnl agcncy, instrumcnttdity, or cntity --
<br /> (including Lcndcr, if Lcndcr is such an intititution) ar in any Fedcral Homc Loan f3ank. l.cndcr shull npply thc t�unds to paY thc ��;-.
<br /> Bscrow Itcros. l..cndcr mi�y nut chni��c tiorrowcr(orholding nnd applyini;lhc funds,nnnu�dly nn.�fy�iit��lhc curaw iicc�xmt.or
<br /> vcrifying thc Escrov�Itcros,unlcss L.cndcr pays Dorrower intcrest on thc Punds und applia�blc law permits l.cnilor u� mul:c,uch
<br />.�:,,.'`• n ch:ergc, However, Lender may rcquire Borro��er to pay a onc-timc chargc far un indepcndcnt rcul cstate tux reporting scrvicc ��
<br />`; s�-p,�d+%`�� uscxl by Lendor in connection with this lot►n,unless upplicable Ina� providcs otherwise. Unless i►n ngreentent is made or
<br /> ,2,�,._y:,�,,• applicublc lnw rcquires Interest to bc paid,Lcnder Shull nat bc rcquircd to puy llorro�vcr i�ny interest or carnings on thc Funds. �+::�;=
<br />-fr;� . E�orrowcr und L.endcr may ugree in writing, ho�vevcr, that intenst tihall bc pnid on chc Funds, I..cudcr shull givc to Rarrowcr, �,�__
<br /> •� without chargc, an nnnual accounti�ig of thc Fnnds, showing crcdits nnd detrrts to the Funds nnd thc purposc for which ench
<br />.=-�;:-�:: � debit tothe Funds wus mude.The Funds�u�c pl�ged�.�ddi«�i`mshe�h lufbv un,nlicable I w,�Lender si nll acciuim t F3orruwce ��
<br /> - --- 1T ICtE k'llSi09!IClU Vy �cuuc� cn��w w�w.��.......r"-'.. .
<br /> t W for the excess Funds in accordnnce with the requin:ment�of ap�licnble law. Ir��f�e amuunt of thc Funds heid by�endrr���7���y _
<br />= '' - time is not sufGcicnt ta pay the Bscrow Itcros when due,Lender niay so notify Borrowcr in writin�,and,in such cnsc�orrowcr
<br /> ""�� shall pay to[.ender the amount necessary to rnake up the deficiency. Borrower sliuil make up the deficiency in no more thun -
<br /> -- ' ? twel�e monthly payments,at Lcnder's sole discrctian.
<br /> •.;;h Upon payment in full of all sums st:cured by this Sccuriry Instrurt�cnt, Lcnder shnU prompd T�o the ac�u idon or le
<br /> �..„ �� � Funds held�byy nder.If,lun ner Fund held b�Lender t�he t9me of acquisuion or�sal�as�ac rcdp against the ums secure,�l by =-
<br /> �t,:�:•s•.� af the Pro rt .shnll app y y Y _
<br />==�;•;;=:,;., this Securiry Instrument.
<br /> '�`°��''v.��,� 3.A p p l i c a t t a n o f P a y m e n t s. U n l c s s a p p l i c a b l e law provides othenvise,all payments receivcd by I.cnder under paragraphs
<br /> -'"r�'�::•"� 1 nnd 2 shall be npplied: fint, to any prepayrnent charges due under the Note; seam d,to amoun t s p a y a b l e u n d e r p a r a s r a p h 2; _
<br />___-�i�+l third,to interest due;fourth,to principai due;nnd tasi,tu auy la t e c ha rg c s due ur.��r the Note ,.
<br /> _;�;�,�� 4.Charges;Liens. Horrower shzll pay. all taxes,assessments, charges, fines and impositions attributable to the Property _.
<br /> "-"-°lr=":is� which may attain priority over this Security Instrument, and leasehold payments or ground rents,if uny. Borrawer shull pay __
<br />.,;;u,��.� these obligations in the manncr provided in parag�•:�ph 2,or if not paid in that manner, Rorrower shall pay them on time directly s
<br /> --_,---- to the person owed payment. Borrower sheU promptly fumish to Lender all notices of amounts to be paid under this parugraph• _
<br /> `�e'�'r��'� If Borrower mukes these paymcnts directly,Borrower shall promptly furnish to Lender receipts evidencing the payments. -_
<br />-...:,'':s;;.d' Borrower shall promptly dischacge any lien which has priority over this Securiry Instrument unless Bonower: (a)agrees in a =
<br /> - _ - writing to the payment of the obligation secured by the Ilen in a manner acceptable to Lender;(b)contests in good faith the lien
<br />';;;�� by, or def�nds a�ainst enforcement of the lien in, legal procr.edings which in the Lender's opinion operate to pravent the _
<br /> - enforcement of the lien;or(c)secures from the holder of the lien an agreement satisfactory to L.ender subordinating the lien to
<br /> v��-� this Security Instrument. If Lender detr,rntines that uny part of the Propeny is subject tu a lien which may attain priority over
<br /> -= thls Security Instrument, Lender may give Bottower a not►ce identifying the lien. Borrower shatl satisfy the lien or take one or
<br /> more of the actions set forth above within 10 days of the giving of notice.
<br /> -_-�— 5. Hazard or Property Insurnnce. Borrower shall keep the improvements now existing or herenfter erected on thc
<br /> _..._- � Property insured aguinst loss by fire, haznrdsincluded within the term "extended roverase" and any other bazards, including
<br /> T�=— floods or flooding, for which Lender requires insurance. This insurance shall be main„1Rnnower subiecttt Le der sl approval
<br /> that I.ender requires. The insurance carrier pmvidinb iite ir�sur��c:.sl��!! ts��a��-� --� --�
<br /> -- which shaQ not be unreasonably withheld. If Borrower fails to maintain coveragc described above. Lender may, ut L.ender's
<br /> __�y�� option,obtnin coverage to protect Lender's ri�hts in the Property in accordance with paragr�ph 7.
<br /> =-- All insurance policies and rencwals shall be scceptable to Lender and shall inc(ude a standard mortgage clause. L.ender
<br /> -- shall have the right to hold the policies and renewals. If Lender requires,Borrower shall promptly give to Lender all receipts of
<br /> -- paid premiums and renewal notices.In the event of loss,Bonower shall give prompt notice to the insucance carrier and Lender. _
<br /> ----- Lender may mdlce proof of loss if not made promptly by Borrower.
<br /> Unless Lender and Horrower otherwise egree m wnqng, insurance proceeds shall be applied to restoration or repuir of the
<br /> _�—�- Property demaSed,if the restoraiion or repair is economically feasible and Lender's security is not Icssened.If the restoration or
<br /> __�� repair is not economically feasible or Lender's security would be lessened,the insurance proceeds shall be applied to the sums
<br /> �-�— secured by this 5ecurity Instrument, whether or not then due, with uny excess puid to Borrower. If Barrower abandons the
<br /> Property.or does not answer within 30 dnys e notice from Lender that the insurance carr[er has offerect to settle n claim, then
<br /> Lender may c�llect the insurnnce proceeds.Lender may usc the proceeds to repair or restore the Property or to pay sums
<br /> sccured by this Security Instrument,whether or not then due.The 30-day period will begin when the notice is given.
<br /> Unless Lender and Borrower otherwise agree in writing, any appliration of proceecis to principal shall not extend or
<br /> — postpone the duz date of the monthly payments refened to in paragraphs 1 and 2 or ch:u�ge the amount of the payments. If -
<br /> under parngraph 2l the Property is acquired by Lender, Borrower's right to ar►y insurunce policies and pruceeds resulting from
<br /> damnge to tlie Property prior t4 the acqms�tion shall pass to Lender ta the extent of the sums secured,by this Security Instrument
<br /> immediately prior to the acquisition.
<br /> �_ 6.Occupanzy.Preservation,Maintenance end Protection of tl�e Property;Borrowei's Loan Appltcation;I.caseholds.
<br /> _________ tu,nnwer shull occupy,establish,and use the Property as Borrower's principal residence within sixry days after the execution of
<br /> this Security Instrument and shall continue to occupy ci►e�'rope►iy:sn�onowcr's pnnciFst residence for et leact one year after
<br /> the date of occupnncy,unless Lender othenvise agnees�n writin�, which consent shall not b�e um•eusonably withheld,or uriless
<br /> extenuating circumstances exist �vhich aze bcyond Bonower's control. Borrower shall not destroy, damage or implis the
<br /> prapercy, allow the Property to deteriorate,or commit waste on the Property. Borrower shall be in default if any forfeiture
<br /> action or proceeding. whcther civil or criminal, is begun that in Lender's good faith judgment wuld result in forfe�ture of the
<br /> — Property or otherwise materi�lly impair the lien creatcd by this Security Instrument or I..ender's security interest. Borrower may
<br /> __�,��� cure such a default and reinstate.as provided in paragmph l8,by causing the action or proceeciing to be dfsmissed with a ruling ,
<br /> --_-- that, in Lender's good faith cletcrmination,Qrecludes forfeiture of the Bonowcr's interest in the Property or othcr matcrinl
<br /> ��- °—� impairment of the lien creatcd by this Secunty Instrument or L.ender's security intcrest. Borrower shall also be in dcfault if
<br /> .:-�,tn"�J-'��y�f Borrower,during the loan application process, gave materially false or inaccurate information or statements to Lender(or failcd
<br />�,�;:�;,t;:.� to provide L.ettder with any materiul information)in connection with the loan evidenced by die Note,including,but not limited
<br /> ��'+��,.,�a"�i� to,representations conceming Borrower's oaupancy of the Property as a principal residence. If this Security Instrument is on a
<br /> . ��:.
<br /> -.-�:.�;�;,�a;y� Ieasehold, Bonowcr shall comply with aU the prov�s�ons of thc leuse. If Borrowcr ncyuires f�;e titic to the Property, t ie
<br /> �� - �' leascliuld w►d the fee titic shall not merge unless Lender agrees to the merger in writing.
<br /> '�"��'"�'r� 7.Protection of Lender's Rt�hts In th2 Property.If Borruwer fails to perform the covcnants and agrcements contained in
<br /> .:• ,h,,,...��-.�..
<br /> _ -��ta this Security Instrument, or there is a legal pitineeding that may significantly affeM L�ender's rights in the Property (sucn as a
<br /> _���1���� proceeding in bankruptcy, probate, for condercanation or forfeiture or to enforee Inws or regulations), then L.ender may da and
<br />:,�;:,;�� �ay for whatever is necessary to protcct thcvalue of the Property and Lendcr's rigYts in the Fropep y. nndn'court�payjinY
<br /> �..,�o ..o.,:.,o o.,., s��mc crrured bv u lien whieh hus priorUy over this Securit Instrument, a pear � S
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<br /> _:,;.�, .-...-,,.. � ............ r.y•--o —•� -- - --'--.. .. ........o.o...
<br /> _-��?'�,;;,; , reasonable attorneys' fees and entering on the Property to make repa�rs. Aimougn unuc:r���uy innc a�uv�. ���,.,.. �...•.-o•-,---
<br /> '� '•'�"� 7,Lendcr does not havc to do so.
<br /> .�4•. f:'= Any amounts disbursed by L.ender under this parngraph 7 shall become additionnl debt of Borrower secured by this
<br /> � . ,4 Sccurity Instrument. Unless Borrower and Lendcr agree tn other terms of payment,thesc umounts shall bear intcrest from tite
<br /> � �� date of disbursement at the Notc rate and shall be payable, with interest, upon notice from i.ender to Borrower requcsting
<br /> ,: �;;,.�,.& payment.
<br /> .-`° ' '•�`'�'F 8.Mortgage Insurance. If l.endcr required mortgage insurancc as a condition of making the loan sccured by this Sec:urity
<br /> ••• s'= Instrument. Bonower shall pay the premiums requireci to maintain the mortgaae insurance in eff'ect. If, for any reason, the
<br /> '., mortgage insurunce coveragc required by Lender lapses or ceases to be in effect, E�orrower shall pay the premiums required to
<br /> � ,�F� � obtain covcrnge substantially equivalent to the mortgage insurance previously in ct'fect, ut a cost substantially equivalcnt to the
<br /> � �'� �r- cust to Bono�ver of the mortgage insurunce previously in effcct, from an altcirute mortga�e insurer approveci by Lender. If
<br /> `tr:�A_�?#tii.:i.
<br /> —�.1t:^i�.aM:�}.t
<br /> �°''�`°""°4•'•'ti roao 2 0�e Form 3028 9190
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