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<br /> 1(�'7�.23
<br /> Tlie Funds shall be hr,ld in an institution whose dapos3ts are insured by a fccleral n�c�nstnimentaduy,o�r entity
<br /> (including l,e�der,if Lender is sucl� an instittttioti)or in nny FederAl Homs Loan Dank.Lendr.r shsll npply the Funds to pay Rhe
<br /> �scr�w Items. l.ender tnay nat ch�r�;c qarrower for holdfn�,;uid npplying ti�e Funds,annuully'analyzing the esc�•aw nccnunt, ov
<br /> vcrify(ng tlic iiscrow Itcmr,,u��aicss i_cnct^r pays Dorru�vcr intcrc��t un tl►c Fuuds wid upplic.:hlc luv,��crmits l.cndcr to ni:�Ecc tiiscl� ,�
<br /> n chnrge. Howevcr, Lcndcr may require U�7cmwer to pay n une-time charge for an independent re�il estntc tnx reparting arvico
<br /> usal by L.cnder in connection with tbis loan, vnless c�pplicnble law pr�viCCS otl�erwise. Unless nn agreement is made or
<br /> applicable law requires interest tobc pai�l,Lender shall rwt bc required to�ay Iiorruwer �ny intcrest or carnings on ihe Punds.
<br /> [iaerower and L.e�xler may agrec in vvnting, huwevcr,thut interest shall be paid on tlie Funds. Lender shall give ta Bc�rrower,
<br /> without charge. nn annual accounting of the Fwxis, showing creditc aixl debits to the Fwds and the purFwse for which eact�
<br /> debit to the Funds was m�de.Th�Funds are pled�ecf as addit9onai security fur nll sums securcrJ by tl�is Security Instrument.
<br /> itthe hunds held by Lenderexceed the amounts��rmittc�l to be lield by upp{icuble taw, Q..cncic:r hhall ucwaist to Lor�ctirer r
<br /> for the exaess�unds in eccordance with tho requiren�ents of applicuble law. If the umount of the Funds held by [.ender at any
<br /> time is not sufticient to pa,y the Fscrow Items whcn due.Lender m�y sa notify Borrower in wciting,and,in sunc�asc Borrower
<br /> shall pay to[.en�ier the amuunt nxe�sary to n�ake up the deficiency. Borrower shall make up ihe dcficiency in no more thun
<br /> twelve monthly paymems,at Lender's sole discretion.
<br /> Upon pay�nr.nt in fiall of all sums secured by this Security [nstrument, Lender shall promptly refund to Barrower uny
<br /> Funds held by Le�xler.If, under paragr►ph 2l. Lender�;hall acquirc or sell the Property, L.ender.Prior ta the acquisition or sale
<br /> of th�Property.sh�U apply any Funds held by[,euJer ut tlie time of acquisition or sale as a c;cd�t agatnst the sums secured by
<br /> this Sccurity Instmnxnt.
<br /> 3.Appl(�ttlo�n af Payments.LJnless applicablc law pravides otherwise,all payments rcceived by Lender under paragraphs
<br /> 1 end 2 shal!be apPl.iocl: first, to any prep��yment churges due uncler the Note; sec;o��l,w amounts paynble u�der paragraph 2:
<br /> third,to interest due;fourth,to princlpal due:and last,to any late charge�dua under the Note.
<br /> 4,C6arges;Lie�.Borrow•�r shall pay all taxes, assessments,churges, fines and impositions attributable to U�c Property
<br /> which may att,ain priority over�his Security Instrument, and leasehold paymen�5 or gro�nd rents. if any. Borrawer shall pay
<br /> these obligatians in ttr.manner provided in paragruph 2.or if not paid in that manner,Borrower shall pay them on time directly
<br /> to�he person owed paymertt.Borrower shall promptly fumish to Lender all notices of amounts to be paid under this paragrapi►. -
<br /> If Borrower malces these payments diroctly,Banower shall pron�ptly fumish to Lender receipts evidencinb the payments.
<br /> Borrowec shalt promptly discharge any litn which ha9 prior�ty over this Security Instrument unless.l3,vrrower: (a)agrees in
<br /> writing to th�payment of the obligation secured by the lien in a manner ucceptable to l.ender: (b)contests in goad faith thc lien
<br /> by, or defends against enforcrmant of the licn in, legal proceedings which �n the Lender's opiniun operate to prevont the .
<br /> �nforceinent of the tien;or(c} saures from the holder of the lien a�i agrcement satisfactory to L?nder subordin�ting[he lien ta
<br /> this SaurIty Instrument. �f I.endar determines that any part of the Prop�rty is subject to a lien which may attain priority over
<br /> this Saurity Instnunent, Lender may give Borrower a natIee identifying thr�ien.Borrower shull�atisfy the lien or take one ur
<br /> mor�af the actians set fo.cth nbc�ve within 10 days of the giving of notire.
<br /> s. I�azArd or Propeyty I�ur�nce. Bnrrower shaU kecp the impr6vemen.ts now cxisting or hereaRer eroctod on the
<br /> Propeny insured against Loss by fire,hazards includod within the term"extended coversge" sud any other hazards,in�luding
<br /> floods ur flooding. for which L.e�der requires insurance.This insurance shall be maAntained in the nmouttts and f�r th�periods
<br /> that Lertder�equires. The insuiance carrier providing the insurt►nre shall be chosen by Barrower subject to Lencfei s approval
<br /> which shall no6 bo unrcasonably withheld. If Bomower fails ta mvht�vn coverage describtd above, [.ender may. ot i.en3er s °
<br /> • option,obtein coveroge to protect I.ender's rights in the Propeny in accorclunce�vith paragraph 7.
<br /> All insurance poltcies and renewals shall be acceptable ta i.ender ar�d chall include e standaul morcgage clause. I.ender
<br /> shall have the right to hold tha policies and rencwals.If L.endcr requires.Borrower shell promptly give to Lender all toceipts of
<br /> paid prcmiums and renewal notias. Tn the event of loss.Borrower shall give prompt notice to the insurance carrier and Lender.
<br /> l.tnder may make p�oof of loss itnod made promptly by Borrower.
<br /> Unless Lender aixl Horrowarotherwise agrne�n writIng,insurance praocats shall be applied to re.gte�radon or npair of the
<br /> Propeny damage6.if the ra;toration or repair is ecunomically feasible and I.ender's security is not tessencxt.If tht testoration or �
<br /> repair is not c�onotnicully feasibk Qr Lcnder's security would be lessened,tho insurance proceeds shail be appiied ro the sums
<br /> securcC by this Security Insuunxnt.whether or not then due, wtth cury excess paid to 8orrower. if Borrow�:c abardons the
<br /> PropeRy, or dces not answer wiihin 30 days a notice from I.ender that the insurance carrler has offaed to settle a cluim,th�n
<br /> Lerxier may collect the insur�na proceods. Lender ueay use the proceeds to repair or rcstore the E•cope�ty or to pay sums
<br /> securod by this Security�nstrurnent. whether or noE then due.The 30-day period will begin whFn the ratic�is given.
<br /> Unless Lender qn Borrox�er aherwise ugrec in writing. any application of proceeds to princip�l shafl not extonct or �
<br /> pos�pone the due dAto bf the rnonthty payments refenod to in paragraphs 1 �nd 2 or chang�the azr�otant of the pAyments. If
<br /> uader pAragr�ph 21 the Propecty is suquirod by Lender. Borrower's right to Any insuranee poticfes ur1 proeexds rcsult�ng fic�m
<br /> damage tu the Propetty prior to the acquisition shall psss to I.Gnder to the extent of:he surns s�ural by this Security Instrument
<br /> immodisteiy prior to the acquisition_ �
<br /> 6.OccuP�nc�',!'riycrv�tion,Ni�letenance�nd Protection of the ProPe�'�y;Borrorra's Los�n.Applicstion; Laad�olds. .
<br /> $ortr�wer shall occupy,establisti,and use the Property as Borrawer's principal residence wi�hin sixty days after the executinn of
<br /> this Saurity tnstrument und st�all cantinue to occupy the Property as Eonower's�rincipal rcsidence for at leact one year after
<br /> ihe date o�occupancy,unless Le�ler othErwise ag�+ees in wriNng, which consent shall nc�t be unre�sonably withhe(d,o�unlese
<br /> extcnuatir�g circun�stenccs exist which am beyand Bonower's control. Borrower shall not destray. damzge or 6npair the
<br /> Properq�, allow the Fropeny to detcriorntc. or oommit wnste on the Propetty. Bonower shall be in defau[t if any farE:itune
<br /> action or procecding,whether cisil ot criminal.is begun that in Lender's good faith judgment muld•result in forfciture of the
<br /> !'roperty or otherwise materially impalr thc lien created by this Sccurit�+Instr�ment or[.ender's secuefty interest. Bormwer may
<br /> cure such a default and reinstnte,as provided in,paragraph 18,by causmg the action or proceoding to be dismissed with a ruling .
<br /> that, in l.ender's good faith c�etemnination, precludes forfeiture of the Borrower's interest in the Property or other materiel
<br /> impaim�nt of the lien createxi by �is Security Instrument or Lender's security interest.Borrower shall also be in default if
<br /> Barrower.during the loare application process,gave matcrinlly fnlse or inaccurate inform�tion or statements to Lender(or failed
<br /> to provide[xnder with any material informatlon)in connection with the loan evidenced by the Note,including. bat not limited
<br /> to,repmsentations cancerning Borrowcr's occupaacy of the Property as o princ9pal msidez�re. If this Security Instrument is on a
<br /> leasehold. I3orrowcr shall cornply with all the provisions of the Icase. If Horro�vcr 3cquiress fee title to the Property, the
<br /> Ir.�seho:si and the fce title shalf na r�nuge unless I.ender ugrees to tlr.merscr in wdting.
<br /> 7..�'sotecHon oi Lmdcr's Rig�ts in the Property.If Bon�ower f�ils ta per�'orm thE�oven�tts and agroements contidned in��
<br /> this Sec'u►tity Instrument, or there is u legn! procecxtirg that may significantly affect[.cnder's righu in the PropeA'ty.(sv��iw�•a
<br /> proccedtng in banlccupsey,probaie, for condemnatiun or forfeiture or to enforoa lnws or regulations), the�G;n�l��r miy do�a�r.1
<br /> pay for whatever is r�essary to protect the valvE of ehe PtopeRy and Lendec's ri�hts in the Praperty, i.vnd�c'u,xtions�m�y •
<br /> incl�de paying nny sums securcd by a lien which has priority over this Scicurity Instmment, appe;uing in�c<wtt, paying -
<br /> m�cnnahle�ttnrnevc'f�u nnd enirrinQ�n the Proaertv tn m�{ce ren�ir�. AlthnuQh Irnder mav lake action u�r th3c oa�Cagranh
<br /> 7,Lender docs not havc ta do so. � � � � �
<br /> Any amounts disbur�ed by Lender under this paragrapli 7 shall become udditional debt af 8orrower securcd by this
<br /> Sccurity Instrumcnt. Unless Bortower and Lender agrce to utl�cr tcrms of payment.thcse amounts shall bear interest fcom thc
<br /> date of disbursement nt the Not¢rate and shall bc payublc, with intcrest, upon notice ftom I.cnder to Borcower m.c�uesting
<br /> paymcnr.
<br /> 8.Mortgage ituurpnce. If l.erder requimd mortgage insuran�e as a condition of makin�;the lo�n secured by this Security
<br /> Instrumcnt. Borrower shall p3y the p�:nimns requirecl to maintain the mortgage insuranoe in effect. If, for:u�y rcason. the
<br /> rnortgagc insurancc covcragc required by Lcnder lapses or ccascs to bc in effect,Borrowcr shall pay thc premiums rcquired to
<br /> obtain coverage substantially equivalcnt to the mortgage insuranc�:previoe�sly in effdct, at n cost substnntia�ly eqaivulent to the
<br /> cost to Borrower of the mong�ge insurance previously in effect, frum un lilternate mortgage insurer approved by Lender. If
<br /> ' " va9.2 m♦ Foe+n 30?9 9/90
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