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<br /> �' • The Funds shsll be held in on institution whose deposits ore inaurcd by a fedcral agency. instrumantality, or emity ��-—l�
<br /> _- . . ri�h,dina t�nlPr.tf l.��xier iA such an institutinn)or in any Federnl Home Loan Bank. Lendcr shull apply the Funds to pay the �'" `._,::. •�:�;,�:g-_
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<br /> � �� �scrow Ilems.Lendcr may not chn�ge Bonnwer to�hold�ng arw appiymg ii�o �wn;n,anuuuiiy�����y����B tii����,�::•���u"'•.°f -�,_----------
<br /> • , verifying the Escmw Items,u�lexs L.endcr puya Borrawer intercat on the PwKis and applicable law permits L,cndcr to make such �:�r_ _�
<br /> u churgc. Hawever, Lender muy�equire&►rmwer lo pay a one-Ilrne chorge for an independent real estetc tau rcp��rting xcrvice ,.,,Y:..�:����.---
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<br /> used by L.ender in conneclion with this loan, unlcss applicable luw provides atherwise. Unlexs an agreement ix made or � J ..;ny,�;.
<br /> .� uppllcnble law rcqui�es interest to be puid, L.ender.rhull not be required t�pay Borrower any interest or earning�on the Funda. ��,��..,�.,,M' ��T
<br /> Bonower und Lender may ogree in writing, however. ihut Inteast shall be pald on the Funds. Lender shall givc to Bonower. ., :.; �:s��
<br /> � � withuut chorge, on annual accaunting oP the Funds, showing croditg end debila to the Funds and the purp�►se fur which each i� �� • • •
<br /> debit t��h�F�uulc wea made.The Funds are pledged aK alditional xecudty for all sums secured by this Securlty Instrument. �
<br /> � . Ii�he Funds held by Lender eaceed ihe�unuuntr peuuitteci tc Ix:iwt�l by applicablc I;tu�, l�ndrr+hnll arr�wmt �n Borrower �_�.�:_...:._. ....-.��-
<br /> --- f�� ti►c oA�..��f unds ta accordar.ce+vith th�r�nir�menla oi applicable 1 Aw. Ii 1he amount af the Funds held by L.ender�t nny
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<br /> _� time ia not suPficient to puy the Escrow Items wheo due,Lender may so natify Horrower in wriiing,n��. ���a�� ••� on�"'er �
<br /> � shall pay ta Lender the amount necessary to mnke up the deticiency.Bc�rtower shall make up Ihe deflciency in no more than
<br /> • twelve monthly payments,at Ixnder's xole discretion. .
<br /> Upon payment in full of all sums securod by this Security Insiniment, Ixnder shall promptly refund to Bar�ower any
<br /> � � Funds held by L.ender.If.under paragraph 21,L.ender shall acquirc or sell Ihe Property,L.endcr,�rior lo the acquisilion or r�ule
<br /> i of the Property. shall upply any Funds held by l.ender ot the time of�cquisition or sale av�crodit ageinsl the sums secured by ,
<br /> . � this Security Instrumem. .
<br /> 3.Applicallon oP Payments.Uoless applkable law provides otherwise. all paymenls�xeived by Lender under paragraphs
<br /> i 1 and 2�ball bc applied: flrnt, to any prepaymenl charges duc under ihe Nate:suond,lo amounts paYabk under paragraph 2: �
<br /> j Ihird. to interest due:fourth,to p�iocipal due;and last,to eny late chargea due under Ihe Nate. „„w�.�
<br /> 4.Charges;I.tens. Borrower shall pay al{ taRes,assessments, charges. fines and impositiona attribuwble to the Property
<br /> w h i c h m a y a t t t►i n p r i a ri t y a v e r t h i s 5 e c u r i t y I n s t r u mont, and leasehdd pa yrnents or ground rents, ii any. Borrower shall pay :: :�,..?^�...�
<br /> these obligations in the manner provided in arugrnph 2.or If not puid in thet manner,Borrower shull pay t hem on t ime d ircc t ly ' ,.#_..,;:;�.
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<br /> ' ' to the person�wed pqyment. Borrower shall promptly furnish to Lender all ndices of amounts to be paid under this paragmph. ' �•� �I;.��
<br /> If BoRawe�mel:es these payments directly.Borcower shall prompqy fumish to Lender receipts evidencing the payments. ,: �.. ,
<br /> — • Borrowar shull prampdy dfacharge any lien which hos prionty over this Security Instrument unless Horrower• (al agrec�s in ' :��:� '
<br /> - writing to the paymant of 1he obligation Recured by the lien in a manner acceptable to Lender,(b)contests in good faith the lien °.j,:��r..
<br /> �, . by, or defends agains� enforcement of the lien in, Iegul proceedings which in the I.ender's opinian operate to prevent the _
<br /> enforcement of the lien: or(c)secures from the holdGr of Ihe lien an ag reemem rali�fuctary tn L.ender subordinati�g the lien to
<br /> " this Security Instrument. If L.ender detetmines thet any part of ihe Propeny ix subject to u lien which muy attain priority over . ;
<br /> - . this Security lnstrument. l.ender may give BoROwer a notice identifying the lien. Borrower shall setisfy Ihe lien or take one or , . . •�V,_�
<br /> • more of the nctions set fohh ahove within 10 Jays of the giving of notice. `r��,,_—
<br /> � S. Ha�r d or P r o p e r l y I n s u m n c e. B a r r o w e r s h a l l k e e p t h e i m p r n v e m e n t s �x►w existin g or hereufter erected on �he . t,..___
<br /> ' property insured against loss by fire, huzards included wUhin the term "extencled covernge" and any other harards, including • �- ,-
<br /> floads or flooding, for which l.ender requires insurance. This insurnnce shall bc maintained in�he amount�anJ f'or the periads �=-
<br /> � cha� I.ender requires. The insurance canier providing the inaurnnce shall be chosen by Banower subject to l.ender'�approval
<br /> o be unreasmiabl wfthheld. If BoRawer Pails to mAintaincoverage described above, L.ender muy.et l.ender's . r�.�
<br /> w h i c h s h a l i n t y ""�
<br /> _ _ ... '. . . ..' � option.obtain covernge to pmtect l.ender's rights in�he Propeny in acm r danee wi t h parugrn p h 7. ?"
<br /> — All insurance pnliciec and renewals shull he nccep�able �o Lender and shaii indudr a ,tu�xiard mongagc rlause. l.axler '. ---�->
<br /> -` shall heve the right to hold the Qolicies and renewals. IF l.ende�•requires,Bnrrower shall promp�ly give to I.endcr all receipls of a�t��
<br /> "� . , � paid premium4 und renewal nauces.ln the event of loss, Borr��wer shell give prampt notice to the insurunce canier ond l.ender. . .}.
<br /> -` Lender may muke prcx�f of loss if nnt mndc promptly by Bnrrower, ' "`�"�
<br /> — •• Unless L.ender and Borrower olhetwise agree in wnting, insurAnce proceeds shall be npplied Io restorution or repuir of Ihe � , • '��!����
<br /> - Propeny damaged,if the resti�ratian or repair is economically 1'easible and l�ixler'c xecurity is nut le++ened.lf the re�am�Uun ur � _
<br /> repair is not economically feasible or Lander's security would be lesscned, the inxurunce.proceeds shall be applied to the sums �
<br /> secured by thia Security Insuument. whelher or not then due, with nny eacess puid to Borrower. If Bnrrower abAndons the
<br /> - Properly. ar dc,es na answer within 30 duys a mNice from Lencler Ihat ihe insurAnce cnrrier has offered 10 settle a claim,then __ _
<br /> Lender may cnllect the insurunce proceeds. Lender muy use Ihe praceed� to repuir or restore the Property ar lo puy sums ,_
<br /> secuted by this Securily Instrument,whether or nnt then due. The 3U•duy peri�xi will t►egin when the notice is given. - ,_
<br /> Unless L.ender und Borrower otherwise ugree in writing, any applicntion of proceeds to principal shall nM excend or � __
<br /> postpone the due date of the monthly puyments ref'erred to in paragrs�phs I and 2 or change the amount of the paymenis. If . - r;n
<br /> unde�paragraph 21 the Pmpeny is acquired by Lender, Bc►rrower'�ri�ht t�any insurnnce policies and pmceedx resulting from ';'T_��
<br /> damage to the Propeny prior to the acquisitian shaU puss to Le�ufer to the extent nf the sums secured by this Security lnstniment ;___
<br /> _ ., immediately prior to Ihe acquisition. • . �-`°--
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<br /> - •I 6.Occupsfney. 1'reservation,Maintenance und Ih�Necliun uf'Ihe Property:lfarrower's I.oan AppIIcAUon;Leasehold�. . ,,;__
<br /> ��' Borrower shull occupy,establish.and use the Praperty us&xrower's principul reRidence within sixly days utier the execution of ��;.,..
<br /> ' � this Security Instrument and shall continue ro c�ccupy Ihe Propeny as Borcower's principvl residence for at least one year af�er ."
<br /> ," , the dnte of occupancy, unless Lender otherwise ugrees in writing, whi�h cnnsent shall not be unreasonably withheld, or unless :'•..•.;
<br /> • � eztenunting circumstances exist which are beyond Bormwer's c��nirol. Borrower shall not destroy, damage or impair the � '��;..
<br /> . Property, allow Ihe P�operty to deterbrate,ar commit waste on the Properly. &�rrower shull be in default if any forfeiture � `
<br /> ' uction or proceeding,whether civil or criminal, is t+egun thut in L.end�r's gaxi fuith judgment could�esult in Porfeiture of the
<br /> ; Property or otherwise materially impnir the lien created by this Serurity Instrument or l.ender's sewrity interest. Borrower�moy
<br /> -� cure such a default und reinstate,as provided in puragraph 18,by cauxi ng the action or proceecling to be dismissed with a ruling
<br /> thnt, in l.ender's good foith determination, prccludes torfeiturc of the Bnrrowcr's interest in thc Propeny or ather motcrial
<br /> impairment oi the lien created by this Security Instrunxnt or Lender's security interest. Bnrrower shnll also be in defnull if
<br /> Horrower,during the loan applicu�iu��pr�es.r,guve materially falseor inaccurute informution or staiemems�n Lender�or failed
<br /> to provide l.ender with any material information)in connection with Ihe laan evidenced by the Note,including, but not limited
<br /> to,rcpresentation�conceming Bormwer's occupancy of the Property ns a principal residenc�. If this Securi�y Instrument is on a
<br /> teasehold, 8orcower shull cc�mply with all the pnwi.r•�ons of �he let�se. If Borrower aoqaires fee tide to the Properiy, the •
<br /> -� leasehold and the fec tiNe shall not mcrge unless Lender ugrces to tlx merger in writiug.
<br /> 7.Protection nf l.epder's Rlghts in the Propetly.lf Borrower fails to perform the covenants and ugrecments rontuinal in
<br /> this Securiry Instrument,or there is u legal prcxeeding that may signi finnUy affect Lender's righls in the Propeny l�uch•r+�
<br /> pmceeding in bankruptcy, probute, fur conelemnution or forteiture or to enfurce laws or regulation.r•), then lwnder muy do und
<br /> J ' pay for whatever is necessary to protect the vulue oi the Property and Lender's rights in the Property, l.ender's urtion� may
<br /> {nclude paying any sums secured by a lien whirh has prionty over Il�is Security Instniment, nppeanng in court, paying
<br /> reasonable attcxneys'fees und entering on the Property to make rep�ir4.Although l.ender may take actian under this paragruph
<br /> � 7,[.ender dcies nat have to do so.
<br /> `� Any amounts disbursed by LenJer undcr tl�i� parngrAph 7 shall become udditiimul dcb� iif Bixn�wcr �ccured hy this
<br /> ._---z-_ - . . . . �__ ._�_..c...........«� �Me..�..........•�.d�.,ll Iw•�r in�rrv�� 1'rnm Ihr
<br /> ' � ' �ecunty mxtrumem. vni�� wrrruwc� uuu i.cuuci ��cicc i�: :;i��..� ..���..,,,. p.y�...��.. .........................._..___. ...._._ .
<br /> dute of disbur�ment sn ihe Nolc rute nnd shall be payable, with interest,u{wn �wticc frum I.ender to &xr�.wer requexting
<br /> • payment.
<br /> R. Dtort�a�e Insurance. If Lender reyuireJ mon�aFe insurunce asu cundi�i�m al'muking thc lu•rn secured hy this Srcurity
<br /> Instrument. Bnrn•Ner shull pay Ih� premiumx rcyuirc�l m nwintain the mnngage in�uranrc in clfcct. If, fnr uny reason, the
<br /> nmr�guge insumnce coverage rryuircd by l.ender lapses nr reaties w t�e in efl'ect, &rrn��ver�hull pay �hr prrmiums rcyuireJ to
<br /> ' obtnin coveruge yuhstantially eyuivalent lu�he mongu�e inwr��wc prevNwsly in ell'cct, at a cust subtitantially ryuivulcnt to thc
<br /> � rnst to Borrower of 1he mongage insuranre previi�u�ly in e(fect, fmm an ulternnle mortgage m�urer apprirv�Yi by l.cndcr. II'
<br /> �« . P����� Form 3028 919G
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