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<br />,=„� The Funds tihall bc hcld in im iustiwtion whose deposits are insurcd by a fcdcrai ngency. �nstrumcata ity, or entiry
<br /> _�,! (includ'sng Lc�fd4r, ;f L:t:dcr is su�h an ins.itutian;r.r in::;s;• ���ral�losnc Losn Ben!�. L��ndcr shall up�ly thc�undc tn nay the
<br /> - �scr�iw ucros. i..c�ndcr muy not cnargc tsorruwcr(or iioiaing �uid��npiyiny :iic runus, ,innuaiiy anulyxmg tnc escrow account, or �
<br /> verit'ying thc Esrrow Itcros, wilesti I.cndcr pnys Dnrrowcr interc+l��n thc runds imd upplicahle luw pennits Lendcr ti�make such �
<br /> n churge. iiawever, L.ender may require Burrawer to p�ry u��nanrne chiuge fi�r un independent ri:al estate tux repurting servicc -
<br />__� used by Lender in counection with thi� Ie�an, unless upplicable luw provides othcrwise. Unless an agrcement is mude or =
<br /> upplicsible luw requires intcrert tn he puiJ, I.cndcr shull n�c bc rcyuired to pay Barrowcr uny intcrest or carninss on the F�andS.
<br /> � � 8orro�vcr and I.cndcr may ugrec in writing, howevcr, that intcrest shitll be pnid c�n the Funds. L.endcr shull givc to Barr��wcr, _-.
<br /> ��� without churge;, un «nnuul uccounting uf the Funds, showing credits und debits to the Funds und the purpose fur �vhich each
<br /> debit to the Funds�vi�s madc.The Funds ure pledged us udditional �ecuriry fiir a�ll sums secured by this Secu�ity Instrument. �:•
<br /> :,�� !f thc Funds hcld 6y Lcndcr cxcccd thc amnunts permutcd io 6e hcld hy applicablc la�v, l.cndcr shall uccuunt tu Rurrowor r
<br /> (or the excess Funds in accordancc with the rcquirenunts of applicable luw. If thc umount oY the Funds held by I,ender at uny
<br /> -�j�� timc is not sufficient to puy thc Escrow Rems when due, Lendermay xu notify Borrower in writing,und, in su:h cusc BorroH�cr
<br />_.,;$,� shall pny ro L.ender the amoun[ necessary to make up the deficiency. Borrower shull make up the defiriency in no more than
<br /> twelve mnnthly paymentc,at L.endcr's sole discretiim.
<br /> : � Upon paymcnt in f'ull ��f'all sums sccured by this Sccurity lnstrumcnt, l.cndcr shull promptly rcf'und ta I3orrowcr any
<br /> V�.�; Fundti held by L.endcr. If,under paragraph 21, [.ender xhull ucquire or tiell the Property. Lcnder, prior to thc urquisition or sulc
<br /> � of the Propcny, shall �pply any Funds hetd hy Lender s�t the time c�f aryuisition or sale ax a crcdit aguinst the sums secured by --
<br />;.�' this Sccurity Instrumcnt.
<br /> ,•t� 3. AppUuttton of Pnymentt;. Unless applicable luw provides otherwise,all puyments reccived by LcnJer under paragraphs
<br /> �� 1 antl 2 shuU be upplied: fint, to uny prepaymcnt churges duc:under the Nute; �ccund, tu umounts payablc undcr paragraph 2;
<br />;,,,� [hird,to intNrest due: fourth, to principal duc;and last,to any lute charges due under tlie Note.
<br />.;�t;�. 4. Churgcs; i.iens. Bun�wer shall puy all taxes,asscssrncnts,charges, fincs und impositions attributable to thc Property
<br />_ i:v�; which may attain priority over this Security Inspvment, and Icasehold payments or ground rents, if any. Borrower shall pay
<br />��"'�' tl�csc obligations in the manncr provided in parugraph 2,or if not puid in thut manner, Borrower shall pny them on time dircctly
<br />'''—�� to tl�c person owcd payment. Eiorrowcr shall promptly furnish ro Lender all notices of Aiuounts to be puid widc:r Qu, parabr�ph.
<br />`-:�� If Borrower makes these pnyments direcdy, Borrower shall promptly furnish ta L.ender receipts evidencing the pxyments.
<br /> -�' Borrower shall pmmpdy discharge any lien which has priority over this Security Instrument unless Horrower:(a)a�rees in
<br /> ,.`� writing tu the paymem of the obligation secureci by the lien in a manner acceptable to L.eniler, (b)contests in gucxl fuith the lien
<br /> �:� by, or defends against enfarcement of the lien in, Icgal pr�c�edings which in the Lcnder', opinion operute to prevcnt the
<br /> enfi�rcemem c�f the lien:ar(c)secures from th�holder of the lien an a�reement satisfactory to Lender subordinating the lien to
<br /> "� this Security Instrument. [f Lender determines that any p.irt of tlie Property is subject to a lien which muy attain priority over
<br />- this Security Instrument, Lender may givc Borrower a noticc idcntifying thc licn. Borroti�er shall sutisf}•the lien or take ane or
<br /> more of the actions set forth above within 10 days of thc giving of notice.
<br /> _:� 5. Hazard or Property Insurance. Borrowcr shall kecp the improvements now existing on c�rcafte� erected on the
<br /> - Property insured ugainst loss h,y fire, hazards included within ihe term "extended coverage" and any other hazards, including
<br /> — tloods or flaoding, for which [.cndcr reyuires insurancc. This insurance shall be maintained in thc amounts und for the periods
<br /> -- that L.ender r�quires. The insurunre carrier providing the insurance shall be chocen by Bnrruwer subject to l.ender's upproval
<br /> wS3��h sli�!! Zoi �. ut:�,.,IIdb�y :�iitil',efd. It����awc� i'dii., iv�iiaiutaiu l'VVt;lif}�C lIC1C[lI]Cl; abuvC. I,c;ncicr tnay, ac Lendcr's °
<br /> _� option,c�6tain cavera�e to protect Lender's rights in the Propeny in accordance with paragraph 7.
<br /> _._ , All insurance policies and rene�vals shall be acceptable to Lender and shall include u standard mortgnge clause. I..ender
<br /> ° . shall havc thc rigln to hold the policies and renewuls. If Lenderrequires,Borrowcr tihall promptly give to Lendcr nll receipt�of
<br /> --. puid premiums and renewal notices. In the event of foss, Borrcm�er sha�ll give prompt notice to the insurance currier and Lender.
<br /> `='�• Lender may muke proof of loss if not made promptly by Borrou�er.
<br /> Unless i.ender and Borrowcr otherwise agcee in writing, insurunce proceeds shall be applied ro restoration or repair of the
<br /> Pmperty damaged,if the restoratian or repair is economicully feasible and Lender's security is not Iessened. If the restarution ur
<br /> • repnir is not ec.onomicully feasible or Lender's security would be lessened, the insurance procceds shall be applied to the sums
<br /> secured by this Security Instrument, ��•hether or not then Jue,with any excess paid to Borrower. If Borrower abandons the
<br /> Property, or does not answer within:�0 days n notice from Le�ler that thc insurance carrier hus offered to settle a clnim, then
<br /> Lender may collect the insurance procr:eds. L.ender may use ihe procecds to repair or restore the Property or to puy sums
<br /> securcd by this Sccurity Instrument,whethcr or not thcn duc. The 30-day period will begin when the notice is givcn.
<br /> . � Unlecs Lender and Borrower othenvisc agrcc in a-riting,aa�y application of proceeds to principal shull not extend or
<br /> � . postpone tite due date of the monthly payments rcfcrred to in pnragraphs I and 2 or changc the amount of the payments. If
<br /> ' under paragraph 21 the Propeny is acquired by Lender, Horrou•er's right to any insurance policies and proceeds resutting from
<br /> damage to the Property prior to the acquisition shall pass tn Lender to the extent of the sums secured by this Security Instrument
<br /> imm�liately prior to the acquisition.
<br /> 6.Occupancy,Preservatton.Maintenance c�nd Prutectfon of the Property;Borrower's Loan Application;Leaseholds.
<br /> Borrawer shall occupy, establish,and usc the Property as Borro�ver's principsl residence within sixty days after the execution of
<br /> this Security Instrument 1nJ shall contiuue tu occupy the Prupeny ;u Borcower's principnl residence for at least one year after
<br /> ���t�' the dute of occupancy, unless Lender othenvise agrees in writing, which consent shall not be unreasonably withheld,or unless
<br /> `"° ' ext�nuating circumstances cxist which aro bcyond Borrower's cc�nh•ol. Borrower shall not destroy, damage or impair the
<br /> Property, a11ow the Propeny to dcteriorate, or commit wustc on [he Property. Borrower shall be in defiwlt if any forfeiturc
<br /> action or proceeding, whether civil or criminal, is begun that in I.ender's goud fuith judgment could result in forfeiture of the
<br /> Propeny or utherwise materiully impair the lien created by thisSecurity Instrument c�r I.ender's securiry interest. 8orrower may
<br /> cure such a default and reinstute,as providecl in parugraph IR.. by causing the action or procecding to bc diymissed with u ruling
<br /> _ _ that, in Lender's good faith dctermination, prcrludes forfeiture of the Borrowcr's intcrcst in thc Prnperty or nther materi,�l
<br /> ' impairment of thc lien crcated hy this Sccurity Instrument or Lerader's security interest. Borrower shall also be in dcfault if
<br /> ,°= Horrower,cluring thc loan application pruccss,gavc materially false or inaccuratc infnrmation or statcments to Lendcr(or f�iled
<br /> to provide Lender with uny material information)in connectionwith the loan cvidcnrcd by thc Note, includin�, but not liniited
<br /> '- to, representations conceming Burrower's occupancy of the Property as a principal re;idence. If this Serurity Instrument is on a
<br /> leasehold, Borrowcr tihall comply with all thc pruvixions of d�c Icase. If' Borrowcr acyuires fee tide to thc Property, the
<br /> .,�°� Ieasehold and the fce tiNe shull not merge unless Lender a�;rces io ttse mergcr in writing.
<br />':''::`ae 7.Pro3�rctfon uf I,ender's Ri�hts on the Pruperty. If Bvrro�ver fc�ils to perform the ci�venants and agrcements contained in
<br />�'_��' . this Securizy Instrument,or there is a Iegal proreeding that may sngnificantly affect C.e�nder's rights in the Property (such as a
<br />°�� procceding in bankruptcy, probate, fer condemnation or forfeiiure or to enforce laws ur regulation�), then l.cnder may do and -
<br /> pay for whatevcr is ncccssary to protert thc value of thc Property and Lender's rights in thc Nropeny. L,ender's actions msy '
<br />__ include paying any sums secureci by a lien which has priorny over thi5 Securiry Instrununt, appearinN in coutt, paying
<br />�-�- rcasonable atrorneys' Fees and entcring an thc Property to makc repuirs. Although L,cndcr may take uction undcr this para�;raph
<br /> 7, icnder aocs r.oc iiavc co ao so. �
<br /> -:� Any amuunts ditiburscd by I.cndcr undcr this par3graph 7 shall bccumc additiunul debt of Borrowcr sccured by this -'
<br />_�_,� Sccurity Instrumcnt. Unlcss Borrowcr and Lcndcr agrcc to other temis ot payment, thcsc amounts sl�all hcar intcrest I'rom thc =
<br />,�� date of disburscment at thc Note ratc und �hall bc payubl0. SYIlI1 interest, upon notice f'rom Lcndcr tu Burrower rcyucxting -
<br />,�� payment. —
<br /> _°� 8.Mortga�e Insarnnce.If Lcnder reyutred tnurtgaEe in:,urancc as u conditiun uf making thc luan secured by this Scruriry �
<br />-W� Instrument, Borrower �hull pay thc prcmiwns rcyuircd to m:�imain thc murtgage insur:mcc in cfCcct. It', for ;iny rcaxm, thr =
<br /> ;n;�� mortga�Gc insuranrc covcragc rcyuir��l hy Lcndcr I�p�es or cc:�scs ta bc in effcrt. Burrower rhull pay thc prrmium� rcyuircd to =
<br />_=� obtuin roverage ,ubstantially cyuivalent ro the mongage in�urance prcviously in ef'fect, at a ru.t�ubstantially cyuivalent tu thc
<br />_°� rort to B��rrowcr of thr mnrtgugc in,urancc prcvic�u.ly in rffccl, frum an altcrnatc mortgagc insumr approvcd by LenJcr. If' -
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<br /> Popa�o�n Fa�m 3028 0180 —
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