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<br /> � .i Bortowers esCrow eCGOUnt under ttte iederel R881 ESffite SettlsmBnt Procedures ACt ot 1974 a5 amended�am time to tune. 12 U.S.C.
<br /> y : � � 26p1 et Seq.(•RE$PA'),unlass enothe�18w thai epplies t0 the Funds setb e�ess9r amount if S0.�e�der may,et Any tune,coltect flod �'- ` ��
<br />_ • .� hotC Funds in an emouM not w exceed tne tesser amounl. Lender may estbnate the amount ot Nnds due an Me basis of cur►ent data (� �
<br /> and reasortaDte estenates of e�end'dures of future Escrow Items or otherwlse trti seCOrdance with apDi'tabfe Iaw. � � "`' ' �
<br /> 4 ' ' The FunQs s�a0 be held 6� an instimtion whose deposits ere �sured Ey a tederai ager►cy. insuumentat'rty. or entity (incNd'osg � - � _
<br /> � � LenCer, if L�r+dsr is sucA an mstiNtion)or tn any Federal Home I.oav Bank. �ertder sASli appty the FunCS to pey the ESCrow Items. � '"
<br /> � Lender rr►�y not charge Borrower fflr hotding 8nd apptymg the Funds,8nnualty a�ehr�9 the escrow account, or verdying the Escrow � _
<br /> ttems,unlBSS Lender pays Boaower interest on the Funds end BppGCabte taw Rermds Lender to melce such a eharge. Nowever.Lender , - .-..
<br /> � , may require Borrower to pey a one-time cherge for an independent�ea1 estate tex�epoRmg service used by lender in connection with � '<` �
<br /> ' ' this loen,untass applkabfe law providos oth�wLsa Uniess an ag�ent is made or app�Cabta iaw requues mterest ro be paid,Lender � :".r •
<br /> � sheU not be requ�red to pay Boaower any interest or eammgs on the Funds. Borrower and lender may egree m wriCmB. however.that �' _ • _
<br />-- --r-�.� interast shait he pefd on the Fonds. len�r shaU give to Borrower. without charge, an annual accounting of the Funds. shawmg =:_�_�����_
<br /> - ...._. �.
<br /> � • cred'AS and debits to the funds and the purpose tor whtcb each Qebit tn the Funds was made. The Funas are pledged as additional _�,
<br /> � securiEy tor aU sums secured by this Securily Irtstrumen4 � .
<br /> !t the Funds hetd Dy Lender m�eed the amounts permRted to be hefd by sppticable taw,Lender shall axount to Borrower tor the . _ _ , _,. .��'�;4,.
<br /> excess Funds� accordsnce wnh the requirerttents of apP�abf�Iaw. If the emount of the Funds hetd hy Lender at eny tane is�ot
<br /> � sufficient to paY the Escsow Itsms when due.Lender may so notity Bortower In wrfing.end.in such case Bortower sfiaU pay to Lender � : :
<br /> r � ` the amaunt necessery to matce up the datk�ency.Bortower shatl make up the deftctancy�no more than lweMe monthy payments,at . �•�
<br /> t en � ;.:,.
<br /> � _ .
<br /> Lendefs sola dLsc�etbn. . - � -_ —
<br /> Upon payrrtent in fuU of ell sums secured by th(s Security Insaument,Lender shaU prompUy refund co Borrower any Funds heid by �. ; � "� _
<br />'�"� . • . '<.. . �."�.'
<br /> � Lender. It,under paragrapfi 21,Lender shall ecquire or sell the Property.Lender,pdar to the acquis�ton or sale ot Me Property,sha0 °.;;�_^_
<br /> i;-.._ `+ � •,' app{y eny Wnds heid by l.ender Bt the time ot&Cquisition or sale as e cr8dit sgainst the sums secuted by this SeCUriry tnstrumBnL
<br /> _ � 3.Appticatton of Payments. Uniess aAPi'icabis Iaw provides otherwise.aU payments received by LenCer under paragrephs . � �`' ;:..±
<br /> �`` t artd 2 shall be appt'ie�fas�t.to eny prepaSrment cAarges due under the Note: second,to amounts payabfa under paragraph�th"utl r.. ____
<br /> • • '. to�terest due;tourtT,to pmcipal due;and last,to any tate ct�arges due under the Note. . _����''`--
<br />° . ' � ` ,_.� ,-_ _ .�
<br /> 4. Charges; Liens. eorrowar snau aay e1f �• ��ments, Ch8tge5, fines enC hnAositions BtVbutabi8 to the Property =
<br /> . � ,
<br /> , , ;:� whicA may attain priority aver this Security Instrument, and iaaset�otd payments or ground rents, iF eny. Borrpwer shell pay these s��
<br /> �; # obl;gations in the manner provided in paragraph 2,or N not paid in that manner,8orrower shaU pay them on frtne direcUy to tAe persan � __
<br /> ``�" owed payment Barrower shall prompty fumisA to LenQer en noUces of amounts to be paid under this paregrapA. �t Barrower malces �;.
<br /> ' � '`� these payments d5actry.Bortowec shali promptry tumish to Lender receipts evidencing the payments. � {� � y,,;':
<br /> ` � ' ' � Borrower strall prompty discharge eny Gen which has pdority wer this Sec�+ritY�nstrumenf untess Bortower.(a)agrees in writ�9 to 7 n. �--_
<br /> � the payment of the obligetlon secured by the tien in a manner acceptabte to Lender,(b)contests in good faith Me fiert by,or defends .h��`
<br /> '''•.;, � • against entorcement of tfie��en in,tegal Droceedings which tn the Lender's opinlon operate to prevent the en torcement o t t he ti e n:or(C) z'�-��-
<br /> :��:�.
<br /> • secures from the hotder of the Gen en agreement satisfactory to Lender subordinating the tien to this Security InstrumenG It Lender � � ��`��
<br />'•`� • . • • detertnines that any part of the Property is subject to a i'ien whkh may attain pQOrity over this Security InsWment, Lender may give • ;•.:____
<br /> _ �: Barcower a noUce tdentitymg the lien. 8ortower shall satisfy the lien or take one or mare of the acUOns set forth above within t0 Cays , , .i;,
<br /> ' .' of the giving of notice. �s` '�,�"_
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<br /> ` 5. Hazard or P�operty Insursnae. 8osrower sha0 keap the improvements now eYisting or hereaiter ereCted on tAe _ � � �
<br /> ' '�; "=�
<br /> , : PropeRy insured against loss by fUe, hazards inctuded wfthin the tertn"extended c�v�„rage°and any other Aazards,inctuding floods or � .� `�f`j;�
<br /> . ..� - . .� ftooding, tor which Lander requires insuranca Thts �su�cs shaH be msinta�ed in the amounts end tor the perinds that Lender ,- �t-
<br /> . ' requtres. The insurance carrier providing the insuranca sha0 be chosen by Bortower subject to Lendet's epproval which shail not be .:-:�;�
<br /> .r.;1 � unreasonabiy withhetd. If Botrowar faits to matntain coverage descr�bed above,Lender may,at Lenders opqon,obtein coverage to :.��>��":-
<br />- ,f protect Lendets rlghts in the PropBRy�n acCOrdanCe wRfi paragraph 7. ' ��'=!�=
<br /> Z Atl insuranca poficies and�enewals shatl be acceptable to Lander and sha0 mctude a standard mortgage clause. Lentler shat►�ave „ �t
<br /> �� � � the rlght to dotd the paiiCies and renewats. If Lender requires, Borrower shall promptty give to Lender atl receipts of paid premiums r•. ''��
<br /> � � end renewal notices. fn the event of loss, Bortower shall give prompt nottce to the insurance cacrier and Lender. Lender may matce r'..r�°
<br /> . :n:;�. proof o1 toss if not made prompty by Bortower. . � `�'
<br /> Uniess Lender and Bortower otherwise agtee in writing,insurance ptoceeds shall be apptied to restoration ot repaU of the Property ' �
<br /> • '} damaged. A the restotation or repatr ia economiCalry teasibte and Lenders security is not lessened. 11 the restoretton or repa7 is not � • � ;t�:
<br /> �';•, ' •( • . . . . .:y,:
<br /> eCOnomicaliy feas�te or Lenders securRy would be lessened, the �surance proceeds shail be aADfied to tne sums secured by thfs
<br /> ,.�� • [ Security hstrument, whether or not tt:ati due, with any excess paid to Borrower. If Borcower aCandons the Property, or does not
<br /> - � answer w4nin 30 days a notke from LenEer that the insuranc9 carrier has oNered to settte a c�a(m, then Lender may ca�t the --� ` ';,.•. �
<br /> � fisurance proceeds. lender may use the proceeds to repab or restore the PropeRy or to pay sums secured by this Securityr � -
<br /> � Insuument,whether or n�:then due.The 30�day perlo0 wiil begin when the notbe is gNen. . .
<br /> Untess Lender and Bortower othenvisa agres tn wrfting,any appikation of proceeds to principal sha11 not extend or postpone the ,
<br /> _ . due date ot the montA{y payments re'.e�red to In paragrapbs 1 and 2 0�Change the amount of t�e peyments. N under paragraph 21 :
<br /> " . y the Property Is aCquUed by Lender. Borrowets right to any insurance policies and proceeds resulting from damage to the PropeRy prior �
<br /> � � t0 the aCqul5fti0n shati pass to Lender to th0 extent o} the sums secured by this SeCUrity Instrument immediately pe0r to the . .
<br /> aCquls�tion.
<br />, 6. Occupancy, Preservatton, Maintenance and Protection of the Property; Borrower's Loan �
<br />_ � ApplicaUon; Leaseholda Borrcwer shall occupy,establish,and use the PropeRy as 9onowers principal residence wRnn 56ftyy . .
<br /> • . • days after the execution of thls Securdy InsVUment end shatl continue to occupy the Property fls Borrowefs principal�esiGence far at
<br /> Ie95t ane year after the date of occupency, unless Lender otherwlse agrees � writing, wh;ch consent shetl nol be unreasonably
<br /> _'��r. � s withheid,or untess extenuattng ckcumstances exlst which are beyond Borrowefs conUol. 8orcower shail not destroy,damage or impatr �
<br /> �1 the Property,altow 9he PropeAy to deterlorate,or commA waste on the Property. Borcowar shall be in QefauR if any fo�teRure achon or ,
<br /> � proceeding,whether civi►or crlminai, is begun that in Lender's gaod faith Judgment coutd resull in torfeiture of the Property or otherwise
<br /> : �.lr�. � materiely impair the lien created by this SeCUrity tostrument Or Lenders seCUrityr intereSt. BortOwer mey cure suCh e tlet8ult end
<br /> � reinstete, as provided in parag�aph 18,by causing the actlOn ar proceeding to be dismissed with a ruiing that, in Lender'S good fadh
<br /> � �1 �� determination, precludes foAedure of the Borrowers interest in the Property or other material impairment ot the l;en created�y this _
<br /> ` �� " � Seeurrty Instmment or Lenders security interest. Borcower snall also be in dafault � Borrower, during the loan epp��Cetion process.
<br /> . gave mater�alry talse or inaccurate mformat�on or statements to Lender �or faiied to O�ovide Lender wdh any material mformat�on� m .
<br /> • connection with the loen evldenced by the Note. ��CNding, but not 1lmited to,representations conCerning 8ortower'S oCCUpanCy of the i . .
<br /> �� � PropeRy as a principRl residence. It this Security InsVument �s o� a Ieasehold, 8onower shall compty w4h all the provlsions o1 the �
<br /> fease. tt Borrower acquves te9 td�8 to the PropeAy, the t9asehold and tha �e9 tAte Shall not merge uni8ss the Lender agrees to tne ; �
<br /> . � . .
<br /> �••" merger m wMing. Fo�m JO?9 9:90 !
<br /> _�. f i029LMa(t01W) Pago?01 S � � . .
<br /> T' •:� 642 � � ..
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