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<br /> �, Thc Fund, shull bc hrld in un intililution whosc dc�T��xith iu�c in,urc�t hy a Frder:d agcnry. intitrununtulity. ��r cntity �
<br /> (including I.cn�lcr, it'lAndcr iti such un inttitutiunl or in any Fcdcr.il Ilu�nc L��un Hanl.. Lcndrr�hall,q,��ly thr Fundti 1i�pay thc �
<br /> :., Escruw Itcros. I.cndcr muy nc�t chnrgc Burrowcr fur hoWing.uid applyin�thc Fundti. iinnuully unnty�.ing thc c+rr�,w acruunt, ur _
<br /> --- __! vr.rifyinc dtc Escruw Itctns,wilc,s l.cndcr pays Dorro�vcr intcrctit un thc Fundti und applirablc I,iw permn. l.cndcr to makc+uch _
<br /> a chnrge. However. l.ender muy rec{uire Eii�rrowcr tu pay n onc-timc rhurge�ur an in�tcpenJ.ut �o,�l�.rt�it�ta� rcp��rtin& �;crricc _
<br /> u,cd !�y l.i:ndcr in a�nncctiun with Uiiti lomi. unlcss applicahlc lu�v �ruvidc+ ��thcrw�+c. Unlc�+ un ugrccmcnt is madc or
<br /> • applicublc Iciw requires intcrest to bc paid. I,cndcr shull nut bc rcquircd tu p:ry �lorruwcr nny intcrc.t ur carnings un thc Funds.
<br /> Borruwcr and Lcndcr may ngrcc in wr�ting, howcvcr, that intcrest shall bc paid an thc Fwids. l.cndes shall givc t�� Fiorrowcr,
<br /> , ',� without churgc, nn .mnual arcounting of thc Funds, +huwing crcdit�tiuJ dChits tu thc FuttdS itnd thc porposc fur which cacli _
<br /> debit ta the Funds w��.s made. The Funds ure ple4igeJ us udditioncd hecuriry far ull sums secured by this Security Instrument.
<br /> ^ •' �'4� If the Funds held by Lender exceed the amounts permiued ta be heW by upplicnble lu�v, L.endcr shall uccc�unt to Borrower
<br /> - ''� far thc cxccss Funds in accordunce with the requircments of c►pplirablc law. If tlic amount of thc FunJs held by Lcnder ut uny •
<br /> timc is not sufficicnt to pay thc Escrow Items whcn due, l.cndcr may so notify Borr��wcr in writing.�and.in,uch cacc Borrowcr
<br /> *. � shall pay to L.cnder thc :unount necessury to mal;e up the deficicncy. Borrowcr shall makc up thc dcficicncy in no mare than
<br /> t�velve monthly payments,lt L.ender's sole discretion.
<br /> Upon paymcnt in full of all sums secureci by tl�is Security Instrumcnt, l.ender shull promptly rcfund to 8orroacr any �
<br /> Funds held by l.ender.If,undcr paragraph 2l,L.ender shall acquire or scll the Praperty.I.endcr, prior to thc acquisition or sale
<br /> , of the Property, shall apply any Funds held by Lender nt the time of ncquisition or sale us a crcdit ugains[ the sums secured by
<br /> this Security Instrument. __
<br /> � 3.Appltcattou of Payments. Unless applicable law providcs otherwise, all payments received by I.endcr un�er parngraphs
<br /> �,'.; . , . 1 and 2 shall be applied: first,to uny prepayment charges due under the Note;second,to amou�us plynble under paragraph 2; _
<br /> ���•,_' ;;,;�}:� third,[o interest duc;fourth, to principal due;and last,to any la[c churges due undcr the Note. L
<br /> . 4.Chu�ea; Llens. Borrower shall pay all taxes, assessmcnts, ch:trges, tincs and impositions atu•ibutable to thc Property G
<br /> - which may attuin priority over this Security lnstrument. and leasehold payment� ur bround rents, if any. Bnrrower shall pay
<br /> � these obligatlons in the manner provided in paragrnph 2, or if not paid in that manner, Borrower shall pay them on time dircctly
<br /> to the person owed payment. Borrower shall promptly furnish to L.ender�II notices uf amounts to be paid under this paragraph.
<br /> _ .r ,r�f If Borrower makes these payments�directly.Borrawer shall promptly furnish to Lender receipts evidencing the payments.
<br /> Horrower shall promptly discharge any lien which has prionty over this Security Instrument unless Borrower: (u)agrees in
<br /> s writing to the payment of the obligation sccured by the lien in a manner acceptable to Lender;(b)contests in good faith the lien
<br /> �Y`- . by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the
<br /> -'�.- "� enforcement of the lien; or(c)secures from the holder of the licn an agreement satisfnctory to Lender subordinAting the lien to
<br /> '�'�'` � this Security Instrument. If Lender determines thut any part of the Propeny is subject to a lien which may attain priority over
<br />-- � this Security Instn�ment. Lender may give Dorrower a notice identifying the lien. Borrower shall satisfy the lien or tuke one or _
<br /> `� •���.�%�.•� more of the actions set forth above within 10 days of the giving of notice.
<br /> "`�°�� •••��� 5. Hazttrd or Property Insurance. Aorrower shall keep the iQnprovements now existing on c�reafter erected on the
<br /> '` � ��t' Property insured a�ainst loss by fire, hazards included wittiin the term "extended coverage" and any other hazurds, including
<br /> �-""�`"'��. floods or flooaling, for which L.ender reyuires insurance. 'I'h�s msurance shaii be maiutui�icxi ir�th�a:r;,unis and far tlZe�r?^ds _
<br /> •' ��'''�'�� that I.ender re uires.The insuranee carrier providing the insuranee shall be chosen by Borrower subject to Lender's upproval
<br /> =�-:�+- ��� which shall no be unreasonably withheld. If Bonower fails to maintain coverage described above. I.ender muy, at Lender's -
<br /> °� '�'����t option,obtain coverage to protect Lender's rights in the Property in accordance with paragraph 7.
<br /> ��--`��"" All insurance pol�cies and renewals shall be acceptable to Lender and shall include a stundard mortguge clause. Lender
<br /> ��•.,.
<br /> ===_j� shall have the right to hold the policies and renewals. If l.ender requirPS,Borrower shall promptly give to Lender all receipts o
<br /> �=__� paid premiums and renewnl notices.In the event of Ioss, Borrower shall give prompt notice to the insurance carrier and Lender.
<br /> Lender may make proof of loss if not made promptly by Dorrower.
<br />__-_;:� Unless L.ender and Borrower otherwise agrce in writing, insurance proceeds shall be upplied to restorauon or repair of the
<br /> ���. Pro�erty dsunaged. ii ttie restoration or rcpair is r.conomically feasible and Lender's security is not lessened.If the restorntion or
<br /> ,�_,___�,, repair is not economically feasible or Ixnder's security would be lessened,the insurance proceeds shall be applied to the sums
<br /> ---_- sccumd by this Security Instrument, whether or not then due, with any excess paid to Borcower. If Borrower abandons the
<br /> ---�--- Property. or does not answer within 30 days a notice fram Lender that the insurance carrier has offered to settle a claim, then
<br /> _ � _._� Lender may collec:t the insurance procceds. Lender may use the proceeds to repair or restore the Property or to pay sums
<br />- - secured by this Security Instrument,wl�ether or not then due.The 30-day period wi11 begin when the notice is given.
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