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<br /> - 5.
<br /> `''` '�' ``-i ,`�` The Funds shall be heid in an institutioa whose deposits are iiuured by s fede�al agen��y. instnimentality. or entity -. `,';_(`:' �.� ,;`
<br /> �- -- - ,�'i (inctuding Lender,if Lender i�such an institution)or in any Federal Home I.oan Bank.I.cndrr.haN apply the Fund�to pay the --�=`--�--��"—`"��=
<br /> - <.; ` c `�' Fscrow Itenu.Lender may not charge Borrowet fc�r holding and applying the Fund.�,annuaity analyzing the e�cro�v��couat,or �- -. ,
<br /> ` � • , ' verifying the Ese�w Items,uer{ec�L.ender payc Borrower interest on the Fund�and applieabte la�v permit.Lender ta ma�ce sucfi `;!` ~�'+'
<br /> . � a charge.Ho�vever.Lender may isquire Borro�ver to pay a one-time chargr fur an independent n,-al��tate tax repo�ting�ervice ' '�, •� ��
<br /> used by Lender in �ronnecrion with this taaa. unless applicable laut pmvidec uthrrui.e. Unless an agreement �s m;ide or � � .; � ° .�
<br /> ' � � licable law uires imerest to be aid, ixnder shall not be uirec.+to d B(91T6R'l'f SIl interc+t ur rarnin � un the Funds. ° °�'` ` �' ���
<br /> � aPP �1 ' P' mi P"Y Y S- � ,�• �_` °. ,
<br /> ' 3 � ' Borco�ver aad Ixnder may agmc in writing. however, that inter�t shall be paid on the Funds. Lxnder�h�ll give ro Borro�ver. 0 F,� � `:
<br /> ,._ . ., , ,
<br /> without charge, an annual acrnunting af the Funds, ahowing credits and debits to the Funds and the purpose f�r which rach • . , •``�
<br /> � � debit to the Funds��ac m..�cle.The Fnndti arc:pledgtd as addition�l security for atl wms�ecural hy tbi�Security ln�trurnent. �
<br /> � . • t`•�'. If the Funds held t+y Ltndet excee�i the amounts permitted to be iield by applicable Isw.Lxrtder.h:tll acmunt w Borr�iaer � '�` ;
<br /> • for the exc�s Eunds in accordanre with the rcquimments af appli�ble law. If the amount of the Furtd+held hy Lender at any �, f� � ` �`
<br /> „_�.�:r---':c ti�is nut�uff cient tu pay the Etemw Item,when due.L.cnder may so nutify Borrower in writing,;uid,in such ca+e Barrower _
<br /> � �--�-`" �;.: shall pay to I.ender the amuunt necessary to make up the deficienry. Barcower shall make up the deficienry in no more tfian � •
<br /> . `:`: - twei�e monthly payments,at[.end�r'ti wle discretion. �
<br /> £� ` (Ipon payment in full of all saau secured by this Security lnstrument, Lender shall promptl} refund to Borrower any � _ ,. `° '��
<br /> • Funds held by Lender. !f,under paragraph 2!,l.ender shal!acquire or seQ the Property.Lender. pri�►r to the acquisition or sale , "
<br /> - .� of the Property,shall apply any Funds he[d by Lender at the time of acquisition or xate a,s credit a�inst the sums+ecured by .,,�, . •°ti ��� �
<br /> � .. this Security Iaswment. ` . �•�:•,° .
<br /> • 3.Application of Payments.Unless applicable law provides otherwise,all pay mena r�eived by Lender uncier paragraph� '<'•1 t• .a
<br /> • � ' I and 2 sha11 bc applied: first, to any prepayment charges due undu the Note: sewnd.to amounts payable under paragraph 2: - , '` `_-'�`•
<br /> � `` third.ta inter�st due:fourth,to principal du�:anJ la�t,tu any late charges due under the Note. ����`
<br /> ' <.,.>_._.
<br /> , 4.Charges: Llens.Borrow•er�hall pay all taxe�.as+cy..ments,charge+. fine+and impo.iUon..attrihuwb(c tu the Propertq , . r,--
<br /> _t �. which may attain priority aver thix Security Instrumr�d. :uid lea,ehold psyments or groand rents,if any. Bo:rower �ball pay =� '- _��
<br /> '-. � � these obligation+in the m;utner provided in paragraph 2.or if not paiJ in�hat martner. Borruwer shall pay them on time directiy t � �� _--
<br /> ; � L.. .
<br /> . .�`c ta the person owed payment. Borrower shall prumptty fumish to i.ender all notict�s of amount,to be paid under this paragraph.
<br /> _ ' If&�rro�ver makes these payment�directly. Borrower shaU promptly furn�+h to Lender receiptti evidencing the payments.
<br /> " Borrow•er shall prompdy discharge any lien which has priority over thia Securiry ln,trument nnless Borrower.(a/agrees in , ,
<br /> ` ' writing w the payment of th�ubligation,ecured by the lien in e manrter acceptable to Lender,(b)rnntests in good faith the lien =
<br /> _- _.". :_. ' by. or defends against enforecment of thc lien in. legal proceedings which in the Lemier's npinian operate to prevent the � �
<br /> --�:-"�'` -�-��- ' enforcement of the lien:or(c)tiecures imm the holder of the lien an agreement satisfactory to Lerxler tiuburdinating the lien to � �. ; �'�e'�
<br /> . � � this Security Instrument. (f Lender determines that any par[of the Propeny is tubject tn a lien which may attai�pnority uver :�-��:�o'
<br /> � ' '" ,' ` this Security Instrument.Lender may give Borrower a notice identifying�he lien. Borrower shaU saiisfy ihe lien �r take one or •� � � 9�_
<br /> � `� i�` more of the aetions set forth above within IO dayw of the giving of notice. �'`
<br /> ..,,:: �'�...�._-
<br /> 'r`. ' ._, � ' . ,i;' S. H a z a r d or P roperty lasurance. Borrower s ha l l keep t he impravemen t. now exis tin g or hereafter erected on thc `� F.. t r:"„J_5_�:
<br /> � • - -.�'�i Propeny insured against loss by ftrz,hazards ineluded within the[erin 'extended coverage"anJ any other hazards. includin� "` ; -
<br /> �%`�-:
<br /> �-;:.- . — ftoods ar floading, For which Lender requires in�urance.This inwrance shall be maintained in the amounts and for the periods ''�, .. r�;�,,.•
<br />- • that Lxnder require..The in+uranc�e carrier praviding the insurance yhall be choszn by Born�wer�ubjeet to Cender's apprava! ^�``—'_`�'-
<br /> � :�
<br /> - ', • which shall not be unreasonably withheld_ If Bcsnower fails to maintain roverase described above. Lender may,a! l.ender's � ''�_'_a°m'`
<br />.=` . • :`;���;., option.obtain coverage to prutect Lender's rights in Lhe Properr�in accordance with paragraph 7. _ �
<br /> .- , :. All insurance policies and renewak shall be acxptable to I.ender and shap include a standard mc►rtgage clawe. lxnder
<br /> . , shall have the right to hold the policies and reoewals. if Lender requires.Barrower shall prompdy give to Lender all receipts of , `--
<br /> � '. � ' paid premiums and renewal notices. In the event of loss.Borrawer+hall gi�e prompt notice to the insurance cazrier and Lender. •' F.;:a„-�-,
<br /> _ � � Lender may make prcwf of loss if not made promptly by Borrower. ' •�� :_�#�
<br /> , � . . . Unless Lender and Borrower otherwise agree in writing,insurance proceeds sha}l be applicci to retitoration or repair of the - , ,���.
<br />_ � Property damaged,if the restoration or repair is economically feasible and Lender's security is nnt les`ened. If the restorauon or � --
<br /> ``; `�• ' " repair is not economically feasible or L.ender's securin would be lessened.the inwrance praceeds shall be applied to the sums '�'�, .. __
<br />' <. � � ' secured by this Seeurity ln�trument, whether or not chen due. with any eaces. paid to Borrawer. If Bonower abandons the "•• ., ' :�_-�:
<br /> Praperty,or does not answer within 30 dayr a natice from Lender that the insu�ance carrier has o(fered to senle a claim, then r�'� • '"�--_-�
<br /> . ,�r�,,T:-
<br /> � � . � Lender may collect the insurance praceeds. Lender may use the proceeds to repair or restore the Property ar to pay su*.ns ' • -
<br /> • • •� � secureci by ihis Securily Instrument,whether or nat then due.The 30-day period will isegin when the notice is given. • _,. ,:��z-
<br /> � ..`;,,; Unle�s l.ender and Borrower otherwise a�re�: in writing, any applir�tion of prnceeds to principal shall not extend ar ,..•� ":�_
<br /> -•+ postpone the due date of the monthly paymer.t, ref rreJ tu in paragraphs 1 and 2 or change the amount of the payments. If _
<br /> . under paragraph 21 the Propeny is acquired by l.ender.Borrower's right to any in�urance potici�.and proceeds resulting from , _�
<br />_ • •. ��:' damage ta the Propeny priar to the ucqai�ition shall pass to l.ender ta the extem of the,ums,ecurcd by this Seeurity Instrument �. —
<br /> . immediately prior to the acquisitiun. - . � _
<br /> _ • 6. Occapancy.Prese�vption.M1fafrrtenanee and Protection of the Property;Barsow�er's Laan Applicatlon;l.eace[rci3s. .
<br /> � " Bonower shall occupy.establi,h.and use the Property as&�nower'ti principal re�.idence within�ixty day�afier the executian of • "=
<br /> - . � � • this Security Instrument and.rhall continue to occupy the Property a� Borrower's principal residence for at leact one year aher . �• _� �. •'-�'�
<br /> • Ihe date nf�ucupancy. unle••l.ender ntherwise agrces in writing,whiCh conaent shall not bc unreasonably a•ithhcld. or unless � -�=
<br /> ' •_.�," ' . : . extenuating citcumstunce� cxi�t which are beyond Bormwer's cnntrol. 8orrower +h�1{ not desuoy. damage or impair the , _
<br /> • �,. . Property. allow the Propcny ta dcteriorate.or commit wastc on the Pmpeny. Aorrower �hall be in det'ault if any forfciturc •
<br /> , • � � action or procecJing, whethct civil or�rimina{, i+hegun that in Lender'.g�od faith judgment could result in forfciture of thc . . � •
<br /> � . ' Pruper[y or otherv�iu materially impxir[he lien crrateei by this Security In�trument or Lender'ti�ecuriry inter�,t. Sorruwer may `
<br /> ;.; �� cure�uch a default anJ reinstate.�+provided in paragraph 18,by causing the actiun��r pn+ceeding tn he di�mic,ed�vith a ruling •
<br /> �� � � Ihat, in Lrndcr'. g��nJ faith determin.ition. precludes forfeiture of the B��srawer'.r interetit in the Property or uthcr material „ •
<br />-��''��` ' impairment of the lien cre:nrd hy thi+5u;urity ltntrument or Lender's+ecuriry interest. Bnrroa•er shall al+o be in default if , ..
<br /> Hnrrnwer,during the loan application procc.s.gave materially false or inaccurate infi�rmation or�tatements tu l.ender(i�r f-,:iled .
<br /> • ' ' to pmvidc l.cndcr with any matcri:�l inform.uion)in canncction wiih the loan evidcnre.�f by �he Nute. including, bu►not lin:ited � ��
<br /> �, to, repre,eniatinn�conreming gnrrower'�i�ecupancy of the Property ati a principal residenca If thi�Securiry Instrument is un a ' •
<br /> �`�'" - � • � Ieaseh��W. Bottower �h�li c��mply with al! Ihr pmvi�innti nf the lea.�c. If R��rrowrr aryuirc� fir titlo t��thc Property. the • •
<br />. � Iea�chi�ld and thr fee titl�.h.dl nut merge unlc,r LcnJrr agrec�a,ihe merger in w riung. .
<br /> • 7.ProtcYti��n of lkndcr'c R1�;ht!.io thc f'ropert�.If Burmwcr f'ailti u,prrf„�m Uir r�ncnant�and a;�rrcmcrnti r�mt:iinrd in .' ,�
<br /> , thi.Sccunn• lmtrumcn�. „r�hcrc i•a Ic!_al pn,cccJing that may �ILIIt�ICeIIIIV J��CC! IAndcr', ri;�hi. in�hr Prn�►crry �wrh a,a . � • .
<br />_ .� pruccrJing�in hankruptcy. pruhatr. :�•r um�emnatinn ur fnrfriture nr t��cnti►rcc Luti•. �,r rrgul.�u�,�,.,. a,�„ i.�„a«�»:,y�a„and � .
<br />� pay ti,r whatevcr i.nec�.,:iry �u pn,�ect ti�r v:due„i� Ihe f'ruprrty .utJ Ixnder', ri�hl, �n thc Prnperty. Lwnder'.a�tion> roay .
<br /> ... .. �� in:ludc paying any .um� ticrund hy a lern which ha� pri��rity uvrr thi, 5rcurity In�trumcnt. appcaung in roiitl. paying ,
<br />- . ' . rca,onablc au�micy.' Irc�and rntcnng un �h��Pruperty tu mahc npaicti. 1Uhnu�h I�;nJrr may takc a�tiun und�r this paragtaph .
<br /> . ' 7. L,cndcr JurY it�+t havr ta d��tio-
<br /> Any :miuunt� Ji,hur�rd h} I.�ndcr undcr thi� paragraph 7 .hall hcromr additinnai dcht uf Burrow•cr �ccurcd by thiti '.
<br /> . ` ' . ticvuriry In+trumcnt. Unlc,ti B�m„wrr and Iwndrr azrcc to„thcr trrnx of paym�on. thr�c amouifi��hall hrar mtcrc�t Ir�,m Ihc .
<br /> • J.►te�,f Jitibur.rrnrnt a� Uie tiutc r:ne and .hall he pataM�. �c�ih int�re�t. up„n nnticr fnnn I.rnder tn Hurn�wer reyue,ting
<br /> � � , .� • paymcnt. .
<br /> _ • S.11nrf�;a�e Insurnnee. If Lrnder nyu�red mungage in�urance a�a r�mdih�m�,f maAine thr loan�ecoreJ hy Ihi�Security �
<br /> , � . In,trumciu. Burrrn�cr �I�all pay thc prrnilum. rcyuired t�� maintain thr monea�c in.urancr in rttrct. 11'. fur�n� rcaW,n. thc �
<br /> ` m„rlLage �mur.mr�c„�eras�r rryuircd hg Lendrr Lip.r.„r cra+r�lu hc in etfrct. B��rr„nrr .hal) p.�� �hc prrnuum,rryuircd tu
<br /> ���,' " ��htam :i�rer:�L� �uh.taut�.dly cyui�'alrnt U, th�n�uri�!age n��ut.u�ce p�cvtnuyly in cl�rcl. .�l a�u.I �ut�,t:,nualh rywvalcnt U,the .
<br />. ru.i tn N��ttn�v�r ��t thr mnrtgaLr in.uran�•�•prc�inu�l} in rttcct. tri,tin.m altcm.�tr nu�rt_�:r�r ui,urcr appn,�cci h} I.cnJcr. i( � . �
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