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<br /> ;. 5'he Funds shal! bc hcld in an institution whose deposits are insured by a feder.il agency. instrumentality, or entity �ti�,;_�-°
<br /> , �-�,`. (including Lender,if Lender is such an in�titution)or in any Federal Home Loan Ban�c.Lender shall app3y the Funds to pay the - -
<br /> Fscrow[terns. Lender may not rharge Burrower for holding and app{ying the Funds, annually analyzing thc cscrc�w account,or �- '�.:`� ..Q_•.=�
<br /> , verifying the Fscrow Items,untess Lender pays Sorrowec interest on the Fnnds ansi applicable!av pertnits Lender to make such � �
<br /> a char�e. However, l.ertder may require Borrower to pay a one-tirne charge for�r►independe�st s�►1 estace tax neponing service :t<:^` • �
<br /> used by Leader in connection with this loan, u�stess appficable law provides othenvisr. Unless :u� aarcentent �s made or - _ �• � ��' �` �
<br /> appli�.able law reauires intere�-t to be paid. Lender shull not be mquired to pay Borrower any interest nr eammgs on the Funds. "'. �� '°
<br /> � Borro�ver and L�r_der may agree in tivritin�, however, that inrerest stiall be paid on the Furtds. Lender�EenA give to Borrovrec, .<_:'��`� _
<br /> , without charg�,an aruival accounting of the Funds, showing credits and debits to the Funds and Yhe purpo�e for which eac7s • � '. ., '.
<br /> ° dehit to the Fands was made.The Funds are pledged as additianal security for all sums secured by this Seruriry Instrurnent. ' _
<br /> If the Funds held by Leader eaceed the amaunu permitteJ to be hetd by applirdble la�w. L.ender shal!account to Borrower , ' , � - � -
<br /> _ for the excess Funds in acconlance with the reyuim�:ecn.i of applir.ible trw. If the:uyiount uf the Funds held by t.en�er ai any •r-- - , .-. -..
<br /> ume is not sufficient to pay the Fscrow[tems evhen due.lxnder may so notify Barrower in writing, a�d. in suc h case B orrower • " �
<br /> ' shall pay to Lender the amaunt aeressary ta make up the deficiency. Borrower shall make up the d�:6cienry in no more than .'. • ' ` �'� �:
<br /> - • twelYe m�onthly payments.aY Lendec s soi.°ciiscreuon ?:����:�'�`p±. z
<br /> = Upon payment in fnll af aIl s�ms secured by this Security Insau.'r,e:t�, Ixnder shall promptly refund to Qorrower any �;:.; =::�W»�_;;��;,
<br /> " Fum.ts held by Lender.If,�trx3�ra pas�graph 21.Lender shall acquire ot srfl ttw Property.Lender,prior to tht acquisition or sale ��:•.��•°'�,,::: -^�
<br /> r� ' c�f ttte Pcoperty,shall app�r aay�luuds hetd by Lender at the ame of a.�aisition or sale as a credit against the snms secured by ��}"� ` •
<br /> � tteis Szrurity It�umem. . I '', ". .; '.'�;`:f�„
<br /> 3. iratian of Pa �nis.Unless licabl$law rovides at3�rvrisz,alt menis received b Lender under hs f;": ''�' F ��
<br /> • AL?P4 Y� aPP P PaY Y F�Sr►P ,,.o,,::::�'' ';.!rt,f,;S;;`
<br /> I 2nd 2 shall be ap�li`d: 6rst, to any prepa��tnent charges due under t�:Note;second,to amoums payable under pazu�ls Z; ;.f,_,, �'���..;;•s�y:r>.=
<br />, ' third.to interest due:fourth,to principal dne:and lau,to az�y late charges dae under the Note. '�eF, "':�i?�'«cC�:�{r{r'.:'
<br /> „ 4.Chazges; Liens. Borrower shall pay sll taues.assessments.charges. fines aRd imposirions atuihutable to the Property ,f�;'�'.Y�f.:;i%.`:z�t';,;�_,•:
<br /> '•'� ' which may attain priority over this Security Instr�ment, and leasehotd paymenu or gruund rents. if any.Barrower shall pay < <t;•-�<�',-'
<br /> ;, �l •,'. . �. ._.
<br /> th�se obligations in the mannea provided in{aaragraph 2,or if not paid in that manner,Borrower sUail pay them on time diiectfy �ft F �.
<br /> to the person owed payment.Borrower sLall prompaly fumish to LeRder a!1 notices of aatounts�n be p�ud under dus parngraph. �,":�t.' �;
<br /> • s
<br />-',• ,,�' If Borrower snalces these payments direcxlp.Borrower shall pmmptiy fumish ta�i.ender rgxipts eviderrcing t�e payments. �,,�, '.• �'jrr.;:�' ;•.`°
<br />����"�����` Borrower shall ro tt dis e an lien which has non over shis Sacuri fnstrametn usiiess�irower.(a)a in ;�,�,� ��•• "'� ' • `
<br />:r�i,pl�:N P �P Y c�S Y P �Y �J► �S ;..4r_ .. ...- -
<br /> . writing to the payment uf tl:e�bligation secured by the lien in a manner accepiable ta I.,erider.(b)contests in�aod failh the lien {��... '' . �;,�_
<br /> by_ or defends against en��rn�nent of the lien in, tegal pTOCeedings whieh in Lhe Lender s opinion oper.s�� to prevent the _-___ ='�1��A�
<br /> . .. enfarcement of the lien;or(c3 secures fram the holder of the lien an agreement satisfactory to Lender subordinating the lien to �-, �^L'��
<br /> ' t�is Sec�srity Instrument. If Lender determines that any part of the Pmperty is subject to a liea which may attain priority over '�'''f=��'
<br /> ' .�.
<br /> this Sec�rity Insuument, lxnder may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or �"�.'��'�,.
<br /> �r,s�re of the actions set fort6 abo�e within 10 days of the giving of notice. -� ,,''�'
<br /> 5. Ht�ard or Property Insu�nee. Borrowe� shall keep the improvements now existing or hereafter erected on I;�e `:� ��
<br /> . � _� °
<br /> . ' Pteperty insured against loss by fire,haz�rds included within the tenn "extended coverage" and any other ha7ards. including -
<br />-:'.=�� tiaods or flooding, for which Lender requires ins�rance.This insurance shal!be rnaintainad in tf�e amountsarid for the periads y' � ;{��
<br /> �•.! that Lender reguires. The insvrance carrier providing che insurance sC�be chosen by Borrower subject to Lender's approval •• �n"'�=:••
<br /> '��, . which shall not be unre�asonably withhel�_ If Borrower fails to main*:,�n coverz;e descrebed above. Lender may,at Lender`s �����,��;
<br /> . .� .��;�� 4j`
<br />;i_�, ' option.obiain coverage to protect i.ender's rights in the Property in aceoniance witt:paragraph 7. ':":. • �', . ,
<br /> _ ... ,.�,.
<br /> -'�;�P` All insurance policies�uuE eenewals shall be acce�table to Lender and shaL iu;�ude a standard mortgage rlause. Lender '�.!?��',�`•''�.t+�•-�-�.;�•�` -
<br /> , shall have the right to hoi�Ua��licies and renewals. lr�i,�der reguires,Borroue:st�:J.!promptly give to Lender all t�eceipts of ��¢����=•-.�, .• ' ••
<br /> paid premiums and renewa;�aem��.In the event of loss,8c+rrower shall give promp�:�aotice w the insuranre carri�r nnd Lender. '"�`' p' ' �°
<br /> - „= Lender may mmice proof oi ioss if not made promptiy by Bornower. '�:�:.`-_
<br /> ���;`•' Unless Lenr�er and Borrawer oihenvise agree in writing,insuran:,e�,r�oeeds shall be appfied tu restoration or repair of tha •��4,. . -.�`�'`•`pJ' `':
<br /> � �, Pcoperty damag�Jl..if the restoration or repair is econnmically feasible an�i Le�er's security is not lessened.If the restoration ar � �' ''' '
<br /> a
<br /> repair is not economically feasible or l.ender's security would be lessened.the insurance proceeds shall be appl�ed to the sums ,���`' F,`��": �
<br /> secwed by this Security Instrument, whether or not then d¢e. with any excess paid to Borrower. If Botrower abartdons the �'� ;
<br /> ' Pcoperty, or does not answer within 30 days u notice from I.ender that tfie insurance rarrier has offemd ta seule a claim,then . �,•,_:.,-:
<br /> . Lender may wlle+"i the insurance prooeed.5. L.ender may ase the proceeds w repair or restore the Property or to pay sums � '�: '�j�
<br /> secured by this S��ity Instrument.whether a+r noe then due.The 30-day period will begin when the notice is given. "�,•,�`�1�� . .;
<br /> Unless l.em{aer and Borrower otheru�se agree in wriung. any application of proceeds to principal shall not extend or �^'•,:;;,� ;'�k�.�. :
<br /> s ne the due date of tba�santhl a enu referred to in ara hs 1 and 2 or chan e the anwunt of the a ents. If ' ''�`-�°'��•i F��'�`r.�'!' '•' •^
<br /> . Po tpo Y P,YM P 8�P g P 3+� . .:�Sa,����;r;•�;..", . •-.
<br /> under Paragraph 21 t2ce!'tr�anr�y•is acquired by Lender,�l�*srower's right to any ins:a�::�oe policies and procceds resulting from ;;i�.•sry,;.;;+t� :; �.
<br /> ' damage to the Property�rinc��c�r.he acquisition shall pass ao Lender to the extent of dm:sams secured by this Securiry Instrument �' ''j f tiit ;•�'
<br /> immediately prior to tii�ac.;;�isitian. . �• �s: �•
<br /> � 6.OccupaacT;,,Preservatton,Malntenance and I'rotertion of t�nr iRr•uperty:Borrower's Loan Applicat�on;Leasettolds. . . � t•��.:
<br /> Borrower shall oca- establish,and use the Pro e as$orrower's r�!�ci al residence within six da s after the execution of '��
<br /> �PY� P n3' F P �Y Y' �=-�..
<br /> this Security Instrument and shall wntinne to occupy Ehe i'roperty as Borrower's principa! residenee for at le��u�an:year after
<br /> ,. the date of occupancy,unless Lender otherwise agrer,s iu.���iting, which consent shall not be unreasonably wii�rLhdti�,or unless _�.,: _
<br /> extenuating circumstances exist which are beyond Bam;�=�er's control. Borrower shall not de..�sy, �ma� �1c impair the �e� _: -
<br /> �_, Property. allow the Property to deteriorate, or commit waste on d:A�+operty. Borrower shall bry ii�dei'ault i;any farf:in�r.a . },�a�
<br /> .;y�� action or praceeding. whether civil or criminal. is begun that in I.�s�L•s's good faith judgment ccuJ'ri result ia forfeiture nt d�� ., ��,�; .,
<br /> �y, Property or othenvise materially impair the lien created by this S�:ani.,y. Enstrument or Lender's sec�zity inceresr., E�rrv�wa-may '� '',��� :,'��.?`�;c'. -
<br /> •''�%`a c.ue such a default and rein�tar�e,as prmided in paragra�►r i.a3.by czu�ing the action or proceeding to be d"asmi.��d'�virh a mling � '�� .� •`.'� ,
<br /> ''`"` dmr. in Lender's good fai�lr.�i�emvnation. presludes fl���iatnre of�he Borrower':, interest in the Property c�ur rotic.r material ��'f• • , �. .
<br />_, ,.y,�` imqs�urmeni of the lien crt�n�ci (�y this Se�urity Instncnrasi: ��:L.ernicr.'s security intrscst. Borrower shall alsn Ilr.�in defautt i8 �..'� ��. . .', •,
<br /> � Borrower,du�ing tiie tuus a{�p�ication process,gave materiatiy��c��s ituu:c�uate informadon or st:tements ro 1L�red�r�or f;i�r�L � +�y���'•r, '•��-
<br />-,'�<���a� to provide Lc�uier u+i�ti zr,y:�caterial information)in connection k�it���iitr lu?.n evidenced by the�'ot;e. includin�,b::t r.ot li:�ie�al� ��•'�S°;`•__.
<br /> '�`�'� to,represent7liU�iF.cuscceerin�Borrower's occupancy of the Frapari}�:t�.,l{�rincipal residence. If this Security Ir�scrucr.ent is ou u� . _ �'�"'�
<br /> .. .'�.;;',.
<br /> teasehold, i3ortnwes shal[ a�mply with all the provi�inn,� of the lr;�:e. If Borrower acquires fee title to t1��: 1?rr.perty, dtc; � ,, '_ _
<br /> •: I�nisehotd and the fee title sitsrlr not merge unless Lender a�p�:t:.;�.he rr.�r�er in writing. y;� � ` �•� -
<br /> ;' ' 7.Protectloa of Lender'ts I�t 4 in CFte Pro � li`13urmmcr f,vls to erform the covenants and a � � 'y �.
<br /> � Pe�3- P b'*'�nuA�s wntained in �!,�-_,.•�- 'i ii:�� "
<br /> 'Y�` t h i s S e c u r i ty P n s t r n m e n t. o r t h e r e i s a l e�a l p r�a c e e d i n g t h a t m a y <_��n i l i c 3 n d y a f f e c t L e n d e r's ri F l i l s i n t h e P r o p e r ty(s u c h a s a `' ' '':�''1`���� �'-� -�
<br /> I,��!t�.� �. •
<br /> �r,.�° proceeding i�i bankruptcy,probate. for cnniir.mnation or forfeiture or ur enforce laws or re�ulaliims>,then Lender may do and' ;)•-,`t:;�..�';yi5�, �� f�
<br />'-�:4�•.'� pay for whatever is necessary to prote,.�t the value of tfie Properry and Lender's right�s in the P►���erty. Lender's actions may '��:�*;�.�:;�'����':-� _
<br />• include paying any sun�s secured by a lien which h:�s paioriry over this Security lnstrument, appearing in court, paying , ��f . :
<br /> • reasonabte attomey.c' fees a�id entering on the Property t�malce repairs. Although L.ender may take actian under this paragraph ti{` �•• �
<br /> ' 7.Lender dces not havc to dn so. .:.�>:-.c.�: �
<br /> .� Any umnunts disbursed by Lender under this pamgraph 7 shull become additional debt of Borrou,er securec� by this • �. �?�"'''�
<br /> • Secutity Instrument. Unless Borrower and l.ender agree to odier t�rnu of payment, thcse amounts shaU bear interest from the , �-:��•:..• �- � .
<br /> _ date of disbursement at the Note rate and shall be payable, with interest, upon natice from Lcnder to Borrower requesting -��`-� ' •
<br /> � � payment. �.�,.:t.:-�-:: - -�
<br /> 8.Mortgage Insurunee. If Lender required mortgage insurance as a rnndition of making the lo:in secured by this Securiry �'°�'''
<br /> Instntment. Borrower shall pay tfie pmmiums requircd to maintain the mortgage insurance in effest, if. for any reason, the 'f' ' � �
<br /> •.:,:.,.._.,;.::. ,..
<br />"`� ' rr�ort a e insurance covera e r wred b Lender la ses or ceases to be in effect. $orrower shall a the remiums r uired to ° �"�'�� '
<br /> ,,.
<br /> � 8 g � � Y P P Y P e9 � �-
<br /> ,.: .
<br />-•� ' obtain coverage Substantially eyuivalent to the mortgage insurance previously in effect,at a cost su[astantially equivalent to the
<br /> . __ cost to Borcower of the mortgace insurancti�revioucly in effecr, Pmm an�Itemate �*!o!?�g? ins�!rer�.*ov� �+y LPnder. If -_=- ---=-- - -
<br /> _ , '
<br />� . P�ao I oi D Form 3028 9l90 r .
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