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<br /> � �?s ���a7�� � ` . ` '. _ ,
<br /> irutrumentaliry. or entity � ..+ac�` , � "�``
<br /> The Funds shall be held in an institution whose deposits are icuured by a federdl agency. �,y�5•,` � .�
<br /> (inciuding Lender, if Lendtr i,+uch an^n�titutior►1 o�i��Y�a��Hno the Fund�,an uallyrsnalyzing he escrow accouant or __
<br /> �
<br /> Escrow ltems. i.enaer�uay n���:�,s� ••.••.�^�. .-�..--- � �— -,- �_
<br /> verifying the Farrow ltemti, unlea�Lender pays Born�wer interest on the Funds and appliraiole law pernucs a..endGt w..+a;���....�� .. �_'___
<br /> . a charge. Hnder in onnetUOn w�hU this loan eunl saaPPlincable law pmvi� otherwi e.eUnle�ss an tagrrx�nt�is made 1� r ., �
<br /> used by Le •• �-
<br />' applicable law req�e�i�nterest�c�'n wnung hodwever�that�nterest s altthe paid on therFundsntLender sh�a l�g�e�o Borrower.
<br /> Borrower and L.e Y �
<br /> �> without charge. an annual accThe F nds are ple�g��aaa u nal scxunty torall sums�ei.unred by th s 3ecun�ry Instrument.��h , .
<br /> debit to the Funds w�as made � ��
<br />_ If the Funds held hy 1-ender exceeci the am.�unts permitted to be held by applicable law.fLender shall account to Borrower
<br /> for the excess Funds in uccordance with the requirements of applicable law. Tf the amourtt... ��.. �::^ds held by Lender at any __ - ��?rr -
<br /> time is not sufficient t ePamount neces�sary [oS,make uPethe��f+:it�ys Borniwe�r�.h+ all emake up�U�e c::_�iciencyc n oe Borro�an . ".��,_
<br /> shail pay to Lender th „ "`;'r^ -
<br /> � nvel�e monthly payments.at L.ender's sole discrerion- ... . r ._ __
<br /> Upan payment in full of all sums h�Ir Lende hshall�acquyre or el�the Propertys Lender.npriloi o�h�acqu i1ii r.�or sale _ y: s :_�_�
<br /> " Funds held by L.ender.If,under paragrap • . �: , � �
<br /> of the Properry, shall app�y anY Funds he(d by Le:nder at the time of acqui�ition or sale as a credit against the sums�ecured by •- Ty��T; -
<br /> this Security Isuwment. """'n"'�
<br /> � 3.Applitatlon of Payments• Unles.'aPP<irab���a`N Provides otherwise.all payments received by Lender under paragr'aplu � �
<br /> ,-r,•-.
<br /> ' 1 and 2 shall be applied: first.to any prepayment chirgo��atec h ge dute nnder[h��No�ounts payable under paragraPh Z: '•.``�'""` �
<br /> third,to interest due:founh.to principal due:and las. Y �•a
<br /> 4.Charges:Ltca�. Burrower shaU pay all wxe�•asse�timents, charges. fi�c�and �mpositions attributable to th$Propert}�
<br /> � ,'' which may attain priority over this Security Imtrument.:�nd Ira.tiehold payments or ground rent,, if any. Borrower shaU pay , ��.�
<br /> �. ° the+c abligatiuns in the manncr provided in paragraph 2,or if not paid in th;st manner. Borrower�hall paty them on time directly ,
<br /> : to the pcnnn owed pay�nent. Borrower shall promptly fumi.h tu Lender all noticcs<�f amounts to be paid under this paragraph• � ;� .��.-„��;,,.
<br /> •,.�4.;'
<br /> If&srrower makey thi�c�raymc��+direcsly.Borruwer shall promptly fumi�h to t.ender rcceipts evidencmg the paymenu. ' ' ._
<br /> Borrower shall pmmptly di,chnrse any lien which ha,prioniy��ver thi�Securiry instrument unless Borrower: (a)agreez in . •�_
<br /> - writing to the p�yment��f the��bligatian secured by the lien in a mnnner acceptabte w Lender,tbl eontests in good faith the lien `�_
<br /> . by, or defend, again+t enf��rcemeure.from the holder of the licen�an aSreement sai factory to Lender subo ditnating the lienho •• --
<br /> enfarcement of�he lien:or�c1.e� �-�
<br /> .. this Securiry Instrument. If l.ender de�ermines tha��►ynoi ce denti P inpeth 1 en. Borr wer lshall ati fy the lien oP tak o eVOr ..,���..; �,.,
<br /> � this Securiry Instrument. Lender may give Borrower a fY b :�%- r< -
<br /> ' �F��- �k;
<br /> � .; more of the actions set forth above within 10 days of[he giving of norice. •�:; „ ,�. ��.
<br /> 5. Hazard or Property Insurance. Barrower shall keep the improvements now existing or hereafter erected on the � -*-�-�
<br /> � property insured against loss by fire.hazards included within the term "extended caverage" and any other ha7ards.including rr;.;_�, : 1�
<br /> ' �.a,
<br /> ",�_'"_r j t ..:
<br /> :',� ; tloods or tlooding, for which Lender requires insurance.This insurance shall be maintained in the amounts and fo:�:perio ' .r .
<br /> that Lender requires. The insurance carrier providing the insurance shall be chosen by Borrower suM`•==i to Leader s approval 1�,�A �.. �
<br /> �z:.
<br /> � which shall not be unreasonably withheld. If Borrvwer fails co maintain coverage descri�ed above. :���r �y. at Lender's _ �. � ,�: ,.,-
<br /> o p t i o n.obtain covera ge to protecc Lender's righu in the Prope�cy in accordance with parag P r: •:r:.;•.�,
<br /> . � : : .,
<br /> ,.;.
<br /> p�� insurance policies and renew a ls s h a l l b e a c c e p t a b:e t o L e n d e r a n d s h a l l i n c l u d e a standar��rt gage clause. 1-ender �r•:-� ; �:_ �
<br />� shall have the right to hold ihe policies and renewals. If I.ender requires. Borrower shall prompdy gi«��Lender all receipu o f �: (,`. , y
<br />` paid premiums and renewal notices.In the event of loss.Borrower shall give prompt notiee to the�nsi.-.:ace carr►er and Lender. e5., , ;�j;•,,.�
<br />_.. , Lender may make proof of loss if not made�romptly by Borrower. '����''
<br /> l�ed to restora6on or repair of the . ,r.°�;:
<br /> Unless L.ender and Borrower otherwis�agee m writing,insurance proceeds shall be agp' ��" _
<br /> � Property damaged.�f the restoration or repair is economically feasible and Lender's serurty is not lessened.If the restoration or . •%; � �,.j �x
<br /> rera�r is not er.onomically feasible or l..ender's security would be tessened,the insurFUice proceeds shall be appli�to the sums �i ..,..
<br /> • `� secured by this Security Instrument,�vrteur:a u� u�► than duc, r.rith an; et=°�S F�'� t^&'n°�"er• If Borcower�a�ndons the _ ,
<br /> --�-�r�'�}],•��
<br /> . Property,or does not answer within 30 da_<a aotice from l.ender that the insurance carrier has offe�-zd to setde a cla�m, then � � ; +�.
<br /> Lender may collect the insurance praceeds. L�der may use the proceeds to repair or restore tl:: ?-;nerty or to pay sums ,-.;..
<br /> secured by thi5 Security Instrument,whether o��:>>t then due.The 30-0ay period will begin when the?:':�is}�lt��t eatend or = =
<br /> lication of roceeds to pri...-�. E_.
<br /> Unless Lender and Borrower otherwis� a,Jree in wrting, any app P �;
<br /> � pos t pone the due date of the monthly paymer:s referred�:. in paragraphs 1 and 2 or change the 2-!'r::�r.t of�:� ;�yments.If �_�_ �_�,,,•:
<br />- under paragraph 2F the Property is acquired C��Le n d e r.B o r r o w e r's n g h t t o a n y insurance policies��S proceeds r�s.inng from �_Y_
<br /> damage to the Fr���rty prior to the acqmsete�shall pass to Lender to the eztent of the sums secur��� this Security Instrusnent _ __
<br /> immediatety prior:�the acquisition. g�y�wer's Loan ApplIca,tion; Leaseholds. •.�-;:�- ._
<br /> 6.pccupnncy,preservation,Maintenance and Protectton of the Property; [�'`--.,•_... ..
<br /> : Borrower shall occvpy.establish.and use the Property as Borrower's principal resideace ttithin sixty days after the ezeeution of ---_- :�.
<br /> .:,:��1� this Security Instrument and shall continue to occupy the Property as Barrower's prinr.�.�:residence for at least one year after _�.
<br /> :'••' the date of occupancy.unless Lender othe����•e agrees in writing. which consent shall not be u�reasonal�ly withheld,or unless � ,��.
<br /> extenuating circumstances exist which ar. �:yond Borrower's control. Borrower shall not �c.-s:.c�. damage or impaer the
<br /> �•'..; -�`—
<br /> ..�� Property.allow the Property to deteriorat�. or commit waste on the Property. Borrower shall b::, default if any forfeiture .:;.�y,�.rc' `
<br /> , � _
<br /> . . act�on or proceedin�.whether civil or criir.ir+al,is be�un that in Lender's good faith judgment ec��:�resalt in forfeiture of thy <r�;f'1?r,:
<br /> Froperty or otherwise materially impair the lien created by this Security Instrument or Lender's see.-ty interest. Borrower ma �� �
<br />� cure such a default and reinstate.as provided in paragraph 18.by causing the action or roceedin�•u be dismissed with a ruling N ��
<br /> � p � u roperty or other material �—
<br /> �. ,s,:
<br /> � that. in Lender's good faith determinatian, precludes forfeiture of the Borrower's intetest in tt',: :•
<br /> ��`�� impairment of the lien created by this Secunty Instrument or Lender's security interest. Borrc���r s1�a11 also be in default if ti,,,��, ;�.z�•,
<br /> � Barrower,during the loan application procxss.gs+ve materially false or inaccurate infort^�::ea c.-�*�'tements to Lender(or failerl ��"'- �'.�y.,,t,�,�,.---
<br /> . ', .,:.• �.,_. .�.,
<br /> � to provide Lender with any material information)in connection with the laan evidencal�y the Note,including,but not limited � � �
<br /> to, representations concerning Honower's occupancy of the Pmperty as a principal residenee. If this Socurity lnstrument is on a ���•;;;�..'`
<br /> leasehotd. Borcower shall comply with aU the provisions of the lease. If Borrower acquires fee title to the Property. the ��� :"'
<br /> -:r.mi;yi
<br /> leasehold and the fee title shall not merge unless Lender agrccs to thc merger in writing. ��_ .
<br /> �.�,,, 7.Protection of Lender's Ri�hts in the Property.if Borrower fails to perform the covenants and agreements concained in ' ,
<br /> this Security Instrument.or there is a legal proceeding tfiat may significantly affect Lender's rights in the Property(such as a ';,'`.:`:- ". _
<br /> � pmeeeding in bankruptcy, probate, for condemnation or f��rfeiture or to enfarce lawti or regulations), then Lender may do and �l _
<br /> pay for whatever is necessary to protect the value nf the Property and Lender's rights in the Property. Lender's actions may
<br /> mclude paying any sums secured by a lien which has prioriry aver this Security lnstrument, apprarmg in court, paying `
<br /> . reasonable attomeys' feey and cntering on the Property to make repairs. Although L.Qnder may take action under this paragraph �'
<br /> � 7. Lender does not have to do so. � '
<br /> Any amounts disbursed by Lender under this paragrapF� 7 shall become additional debt of Borrower secured by this
<br /> � Securiry Instrument. Unless Borcower and i.ender agree to other terms of paymettt. these amounis shall bear interest from the �ti
<br /> date of disbursement at the Note mte and shall be payable, with interest. upon m�:;:: .`rom Ix�der ro Borrower requesting `___
<br /> payment.
<br /> 8.Mortga�e Insurance. lf l.ender r�sired mortgage insurance as a condition of,n::i.ing�!te loan secured by this Security '.:;,i��;
<br /> ' � instrument. Borrower �hall pay the premiums required to maintain the mortgage insurar.�r in ::t�-�ct. 1f, for any reason, the ,�;.::.:
<br /> ' mortgage insurance coveruge requireci by Lender laps��or ceases to be in effect. Barrower snaii ray the premiums required to � __
<br /> obtain coverage substantially equivalent to the mortgage insurance previously in effect,at a cost suhstantially equivalent ro the I`
<br /> --""' '-- cu�i t�� �arro�ccr oF thc mortga�Q in�orrnce previously in effect, from an alternate mortgage insurer approved by Lender. if ` . � �
<br /> __
<br /> .._._---'�------ �
<br /> . � . .�
<br /> Form 3u28 9/90 • • �
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