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<br /> The Funds shall be hcld in an in.ititution whose depositt are inse�md b} a fedfr.�l agcncy�. m,trumen ity. or entity #� . :t..::.".' � _
<br /> (iacludiag l.cnder.if Lender is euch an iastitution)or in any Federal H��nte l.o:u►B:irek•Lrnder.hall app►y the Funds to pay the
<br /> Escro�v Items.L.ender may not charge Borruwer for holding and applying the Fund.r, unnually:u�slyiiag the e�crow account,or ,'
<br /> ' v�Kifying the Escrow Ite�. unles',Lettder pays @orro�ser interest on the FunJs:utd applicable la��� perm�ts[-cr.der to make Such ,, -,
<br /> a char�e. However.Lender may require Borro�cer to pay a one-time char�e for an independent real e�t�te ta�reporting�ervice �,•.�
<br /> used by i.ender in conneccian with this basi. unless spplicabM !sw provides �,therµ�i�e. Unle+s :u� a�rcxment is enade or .,,_f . .; ��'
<br /> applicable lau requires interest to be paid, i.ender slaall r.oi be requiral tu pay B��rro«�er:u�y inter�.,t ot u�rning.un the Funds. ;y ` ,�
<br /> [iorrower arcd Lender maq agrce in writin�, howeve�,ch�t intcrest shall be paid on the Funds. l.crtde� shall gi��c to 8orroicer. .4 ' �-
<br /> without char�e. an annual accounting of the Fund�, sh��a�ing credits and debi[s ta the Fur.ds and the purpose far��hich e�ach _
<br /> debit tu the Funds was made.The�unds are pledged as adGitinna!security foy pIP um+5ecured by' th�s Sa�urity Insuument. _
<br /> If the Funds held by Lender exceed the amounts perm,tteJ to be held b a lirable law.Le:nder sh�ll account ta Borro�ver _
<br /> for the eace.s.s Funds in acc�rdance�tiith t�►e requiremrnta of sppficable law. If ehe:unou�t of the Funds held by l.ender at any _ �r�_ _ _
<br /> - tinte es not sufficient to pay the Escrow Ite o make uuethe defeciencyjrs Sorro veBs hall emake p�t1ie deR�fdiciencycinoemo tt►a�► • ..
<br /> shall pay to Lender the amount necessary P -, • .�.
<br />� twelve monthly paytnenES,at Lxnder s sole disccation. . ,c,. �. ..
<br /> U p o n pa yment in full of all sums secured bY this Security lnstr�ment. Lender shall promptly refund to BorroH•er any .,`_.,_,�;
<br /> n o r to the a c quisition or sale ."'"�""°°'`�-__�°-.,--:
<br /> h 21.Lxnder shall azquire or seli t he P rogerty.L e n d e r.p '•:�::•:-•
<br /> � Funds held by Lender. if,under paragrap ;. . .."y: .;, _,
<br /> of the Prop�rty. sha1� aPP�Y�Y Funds held by Lender at the time of acquisition or sale as a credit against the sums securesi by r, _' , '��;�
<br /> � this Security lnstrument. �p���°-�
<br /> ' 3.AgplIratton of Payments.Unlcss aPPlicabte law provides othenvise.all payments received by Lender u n der paragr�p h s rr .... __y �_R_
<br /> 1 and 2 shall be applied:first,to any pteQaymen t c h a r g e s due under the Note;second.to amounts payabie under paragraph 2: V�`�.�
<br /> third.to interest due: fourth.to principal due:and last.to any late charges due under the Note. r 4 ��� - _�
<br /> 4,Cha�ges;Li�s.Borrower shall pay atl taxes. assessments.charges. fines and impositions ataributabte to the Property 17�•y�
<br /> which m�y attain priority over this Sewrity Instrument,and leasehold papments or grnund rents. if anY• Hon°Ke� �1 PaY ' :��f,•_••--.,--
<br /> '. these obligarioas in the manner provided in paragraph 2.or if not paid in that manner.Borrower shall pay them on time dirc:tly :#t;};;.�,,.m.�=_
<br /> to the person owed payment.Borrawer shall pmmpdY fumish to Lender all notice� uf amounu to be paid under this para�ruph• `V`�Ye T�.-�-
<br /> If Borrower makes chese payments ditectly.Borro�ver shall promptly fitmish to L,ender receipts evideacmg the payments. ' , .:,},,,,,n,�- _
<br /> Borrower shall pmmgtly discharge any Gen which has priority over this Security lasuument unless Borrower:(u)agrees in ,;.: ., ,^ �o_;,
<br /> --- �vriting to the Qayment of tf►e obligation secured by the lien in a manner acceptanle�e��er sbopimon opera e of pre�'�nt,the � -�� ' ��. . .-
<br /> r.,__T
<br /> r._�_ �. n_..... ��:._..�_"`r..,,�-.
<br />_ oy, v, �,�,�„ against enforcement of the lien in, legal procedings whu _ '
<br /> ' � enfarcement of the lien;or(c)secvres from the holder of the lien an agreem�s�sub ect o a 1 n which ma �attain��rio 'nt j over `�` ' ���"
<br /> this Security Insttument.If Lender determines that any part of the Property .1 y P y � ' "` `-----
<br /> ve Borrower a nodce identifying the lien. Borrower shall satisfy ths lien or take one or �;, ,_
<br /> this Securety Instmment.Lender may gi '.. -°_
<br /> ' more of tlie artions set forth above w�thin 10 days of the giving of notice. '�"T'�`�
<br /> . .' . �
<br /> 5, L�ard os Property Insarance- Borrower shall keep the improvements now existing or hereafter erected an the y� �._ . :_
<br /> p r o p e rt y i;�sured a g a inst loss by fire, hazards included within the tem► "extended covernge" and any other ha7ards, including � .�. :
<br /> floods or flaoding,for which Lender requires insurance.l'h is i n s u r a n c e s h a l l b e m a i n t a i n e d i n t h e a r a o u n u a nd for the periads ,,....a- , �.
<br /> that Lender requires. The insurai►ce carrier providing the iasurance shaU be chosen by Bonower subject to Lender's a�pm�a1 ;t "; + _ _
<br /> which shall not be unrezsonab�Y withheld. If Borro��er fails to maintain mvera„Qe descril�ed above• LeQ�u maY• a= Lender's } �:"
<br /> � option.obtain wver���ar�rotect Lender's rights iII the Property in accordanee with paragraph 7. ,.,
<br />:�.r;�: p11 ;nsurance po;:c:es and re�sc-���'s shall re acceptable to Lender and shall inclade a srandude o l.�txier a!1 r��t dof
<br /> ''-�� � shaU[���e c'�e right to hold the pal�,ai�^d renewals. If I.ender requires.Borrower shall pro:�: y gi
<br />` • : Tn nze event of loss.Borrower shall give prompt notice to 2ne msurar.ce carrieY a�3���er. ' '� � _
<br /> p a i d p r�m�:�s a n d r e n e a a l n o t i a� � � —
<br /> Lender�.:.y make praof af Ioss if�:�:•::�ade promptly by Borrower. — - '- .-,-
<br /> L'�ess L e n d e r z�i B o r ro w er�t'�erwise a g r e e tn wnung.insurance proceeds shall be applied to rescoration or rep3ir of the ;,,.�_ _:_�
<br /> ' proper��;;,,3�aged.if t't�e restorat�v�or repair is economically feasible and Lender's seturiry is not less e a e d.I f t h e r e.s t ti r u i t o n o r
<br /> repair us.rsxr economically feasibte.�r'.ender's aecurity would be lessened.the insurance proceeds st�aU be applied to tt�s sums . =
<br /> secure:!��� :'.�is Se,curity Instrum:r,��..«-hether or not then due, with any excess paid to Borrov�er. If Bonower a�d•nxis the �� __�.
<br /> proper[y. ar does rr_t answer wi+lri,cn�3 days a notice from Lender that the insu pce carrier has offered t�o�le a�p�.then :- ��-
<br /> Lender may colle� i�he insurance��:�:eads• Lerr�er may use the proceeds to re air os reswre the Pro or co sums �,_y_:
<br /> • secute�by tllis Sec-.:�:_�!�stru�e^�-�•`.ether or mi then due.The 3aday periu�w�11 begin when the�o'.iWe is given. _ ____ _ _ �
<br /> LTnless Lender aa.? Borrow�°:r'.:s*W�Se a°n� in writing, any applir�isa of proceeds to pri�ci�a.'� shall not extend or ;,,.�_
<br /> pos��r.�° �'�e due date of the mc:aul�v�aayments referred to in pa:agraphs 1 and 2 or change the a�:a�!�f the p�ym'.a►ts. i�' - v�y.---
<br /> c_•s�er nur-�rapfi 2l the Property 1s•n��aired by Lender,Borrower's right to any insurar:ce po2icies arsi�+:oceeds res�Sti�ag t�m R �
<br /> d�vr,�e�x�the Property prior to the acquisition shall pass to l.ender to the eatent of the sums secured fi�}r this 3eeurity L'ae3�t�rr�ent ��' _� �� -�
<br /> immediately psior to the acquisition. , �...:��:�:.�-�-- . .
<br /> 6.Occvpancy,�reservation,Muiasensnce and Protecdan of the Pro�erty,_Borcowee s I.oa�rn A�icatitm.Leaulhoft�s.
<br /> Barrower shall occupy,establish,and use the Property as Borrower's princi�«k.'s�dence within sixty da�s.rffter the eaecvtion of
<br /> ��:�-4��--
<br /> this Securiry Instrument and shall continue to accupy the ProQerty as Bar�+.:�v+r=r's principal residence fo�zt least oc�y�naar atter
<br /> • the date of occupancy.untess Lender otherwise agrees in writin�t_ whidi u�nsent shall not bc unreasonably vrithh:td.a unless ,
<br /> catenuating circumstances exist which are beyond Borrowet'� :xrstrcl. iswrrower shall not destroy, dannage oz irtip�ir the ��` � -
<br /> pro p e r t y, altow the l�roperty ta deteriorate. or�r.rnit waste on the Fm{�C�.,-y. Borrower sha11 be in defa�lt if any'forfe�iure
<br /> action or proceedir.�,.��fiether civil or criminat..e=6�=gun that in i.ender's�+��d fai t h ju dgmena cou2d reselt in forfeiture af the ��,,,. ;_
<br /> � Property or otherwise materially impair the lie�,�:ed by this Security Insxrument or LendePs security a�r.��st.Hoaow�ar may ����f'_._
<br /> cure such a default and�instate,as provided in peragraph 18,by causing the action or proceeding to be das LL.'ssed a�,.h a ruling - - _--
<br /> ' that, in Lender s good faith detecrru:�tion, precludes forfeiture of the Borrower's interest in the Properry or c��'��r rnatenal T;._
<br /> impairment of the lien created b� ci�is Security Instrument or Lender's security interest. Bflrrower sha!1 a:�o be i:�d�fault if �: �;�_:_
<br /> - .�,.:
<br /> � � Borrower,during the loan appliextion pracess. �;,.�:materially false or inaccurate information or statertecr.>t5 Lencier(ar failod Y'�.t�.�^
<br /> to provide Lender with any material informatiani�in cannectioo with the loan evidenced by the Note.iw:lu:1=��,but not litnitod �„�,.�=_
<br /> to,representations cor.osrning Borrower's occu�:�«-y of the Property as a principal residence. If this Secw-rtg�lnsttument is on a =-----�
<br /> Ieasehcld. $orrower shall comply with all the provisions eF the lease. If Borrower acquires fee title to the Property. the ��_,_;;_,��-a�,��,;�
<br /> �psdn}I�i 2nd the fe�title shall not merge unless L.ender agrcx�r.�the merger in writin�. •, z x: " ` :'_
<br /> " ' .�.. ;�w.�y.:=.
<br /> T.�o4ectin¢a�Lender's Rights fn the�rnpxrty.Iff A��rn:-wer fails to perform the covenants ar.d aarcPmer s x�n.�uned in �.�:..
<br /> this Security lnsuwncrw, or there is a legal proos°ding that iray sionificar.ily affect L.�nder's righes irt the Pro�e:':; 4��.h as a ,•.:�._w _�.�4 g;__
<br /> . proceeding in 6an4.n�.�r.y.probate, for condem».n�r.n or forfeiture or to cnl:�;rce taws or regulatior.$),r�'r:;LerC��S do and �' `r ,,a, _.__
<br /> , pay for whatever is cecessary to protect the vs�tu-c of the P.roperty and Le:�ier's rights in the Pro�erry• k.ender's actions may ���, yF�,.;�
<br /> include paying any sums secured by a lien r+'nich has priority over th4s Securiry ]nstrument, a�►s:��,g in court. paying -•�j3., ,_,..,y <.-,,�
<br /> �_,
<br /> ...•.�. ..�,•
<br /> reasonable attomeys' fees and enter.i�ng on the Property to make repairs.Although Lender may take action under chis p3.ragrnp ;.�'.�
<br /> 7.Lender daes not have to do so '"''�'�"'•i:�"'`'�.
<br /> Any amounts disbursed by i.ender und�r this paragraph 7 shall become additional debt of Borrower securs� by this .T-r�.,,-,,,.;r _
<br /> Security inshument. Unless Borrower and Lender agree to othcr terms of payment,these amounts shall bear in!erest ftom the ���,:
<br /> date of disbursetrtent at the Note rate and shall be payable, with interest, upon notice from Lender to Bottower raqu�tirt� . .;. Y
<br /> :•:: . . . .�
<br /> payment. . •
<br /> 8. Mortgage Insurnnce.If Lender required mortgage insurance as a condition of malcing tAe loan secured by tl��.r Security � i
<br /> InstrumQnt. Borrower shall pay the premiums required to maintain the mortgage insurance in effect. lf, for any ce.a�on. the i
<br /> mortgage insurance coverage required by Lender lapses or ceases[o be in effect, Borrower shall pay the premivms requirod to ; 's. '
<br /> obtain eoverage substantially equevalent to the mortgage insurance previously in effect,at a cost substantially equivalent to the . i� _
<br /> - - .;��t to .^,t�s:cuxr aF tl:� szast�$ insu�.nce nmvioucly in effect. from an alternate mortga�ee insurer approved by Let�lcT• If _ }. __
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