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<br /> Borrower's escrow account under the federal Real Estete 3erilement Procedures Act of 1874 as emended irom time to time. 12 U.S.C. �
<br /> 2801 et seq. ('RESPA"), unless another law that appllea to the Funds sels a lesser amount. If so, Lsnder may, at any time, couect and ,�
<br /> hold Funds in an emount not to exceed the lesser amount. Lender may estlmato the amount ol tunds due on the besls of current data I
<br /> and reasUnablo ostlmates of expenditures o1 tuture Escrow Items or othenvlse In accordance with applicable Iaw. I ,
<br /> The Funds shall be held in an institutlon whose depasits are Insurod by a federal agency, instrumentality, or entity (Inciuding� , _
<br /> Lender. if Lender is such an Instltution) or In any Federal Home Loan 88nk. Londer shell apply the funds to pay the Escrow Items. ' i _
<br /> Lender may not charge Borrower for hotding end npphl�t9 ihe Funds, annually anaiy[Ing the oscrow account, or verifying the Escrow I
<br /> ; Items, unloss Londer pays Borrower intorost on the Funds and opplicable law pennits Londer to make such a charge. However. Lender� �
<br /> mey requlre Borrower to pay a one-tlme charge lor an Independent real estate tnx reporting servlce used by Lender in connection wilhC �
<br /> this loan, unless epplicable lew provides otherwlse. Unless an agreement is made or appllcablo lew requlres interest to be pald, Lenderw
<br /> shall not be requlred to pay Borrower any Interest or earnings on the Funds. gorrower and Lendor n�ay agree in wriling.however,Ihatyq .
<br /> 'i Interest shall be pald on the Funds. Lender shali glve to Bortower, without charge, an annual accounting oi ihe Funds. 3howing 0
<br /> � credlts and debits to the Funds and the purpose tor which each debit lo the Funds was made. The Funds are pledged as additbnal
<br /> 1 security for all sums secured by this Secudry Insirument. ; ' _,�r__
<br /> 1 If the Funds held by Lender exceed lhe amounts permitted to be held by applicable law. Lender shail account to Borrower for the , r :>
<br /> excess Funds In accordance with the requlrements of applksble law. If the amount of the Funds held by Lender at any time is not :�,;,,_.-•�-
<br /> sufflclent to pay the Escrow Items when due, Lender may so notiy Borrower in wrfdng,and, in such case gorrower shan pay to Lender ; ,_:_��_- -�-
<br /> • ihe amount neceasary to make up the de0clsncy. Borrower shall make up the deflclency In no more then tweive monthry payments, et ,=
<br /> Lender's sole discretlon. -
<br /> � Upon payment In full of ali sums secured by thls Socuriry Instrument, Lender shall promplly refund to Borrower any Funds held by
<br /> � Lender. Ii, under parag�aph 21. Lender ahall acqulre or seN the PropeRy. Lender, prior to the acqulsiUon or sale oi the Property, shall '.�,�i� -
<br /> ,i appiy any Funds held by Lender at the tkne of acquisillon or sale as a credR agalnst the sums secured by this Securiry Instrument.
<br /> $. Appticatfon of Paymonts. Unless appNcable law provides otherwlse, all payments recelved by Lender under paragraphs
<br /> 1 and 2 shall be epplied: flrst, to any prepayment charges due under the Note; second, to amounts payable under paragraph 2; third
<br /> to Interest due; fouRh.to principal due: and last,to any late cherges due under the Note.
<br /> ! 4. Charg4s; Liens. Borrower shall pey aU taxes, assessments, charges, flnea and impositlons attributable to the Property
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<br /> � which may attain priority over this Security Instrument, and leasehold payments or ground rents, If any. Borrower shall pay these
<br /> � i obllgations in the manner provided in paragraph 2, or il not pald in that manner, Borrower shaY pay them on time dlrectty to the person ;
<br /> � i owed payment. Borrower shall promptly furnlsh to Lender aii notices of amounts to be pald under this paragraph. If Borrower makes �
<br /> '� these payments dlrectly, Borrower shall prornptly fumish to Lender recelpts evidencing the payments.
<br /> � •� Borrower shaN promptly discharge any Ilen whlch has priority over thls Security Instrument unless Borrower: (a)agrees in writing to ,
<br /> ' �i, the peyment ot the obllgation securecJ by tt�e Ilen In a menner ecceptebie to Lender; (b) contests in good isith tho Ilen by, or defenda ,� ,;�:-
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<br /> agafnst enforcement ot the Ilen in, legal proceedings whloh in the Lendor's opinion operate to prevent the enlorcement of the Ilen; or (c) ,..;
<br /> -1 sewres irom ti��e ho�d2r c! the ::en an Baf?amAnt satlsfactmy to Lender subordinating the Nen to thls Security Instrument. Ii Lender �`.,1,;': ', txT,
<br /> ' �I detertnlnes that any pert ot the Properry Is subJect to a Yen which may attaln prlority over this Secudty Instrument, Lender may grve �; ,��-_
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<br /> � Borrower a nottee Identi(ying the Ilen. BoROwer shaN satisly the Ilen or take one or more ot the actions set forth ebove withln 10 days �:� +-
<br /> } of the glving of notice. � ` �
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<br /> 5. Hazard or Property Insurance. Bortower shau keep the improvements now existing or hereafter erected on the `
<br /> Properry Insured agalnst loss by flre, hazards Inciuded within ihe term "extended coverage" and any other hazards, fncluding ilooda or ��.�,
<br /> tF Oooding, tor whlch Lender requlres insurance. This insurance shall be malntalned In the amounts end for the perbds that Lender
<br /> � requires. The Insurance carrier provlding the Insurance ahali be chosen by 9orrower subJect to Lender's approval whbh shali not be � _
<br /> '` unreasonably withheld. If Borrower feils to malMaln coverage described above. Lender may, at Lender's option, obtain coverage to �;,-_—
<br /> • protect Lender's rights in the Property In accordance with paragraph 7. -o,�
<br /> All Insurence pollcles and renewals shall be acceptable to Lender and shall Include a standard mortgage clauae. Londer shall have �`
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<br /> the right to hold the poiicies and renewals. If Lender requires, Bortower shall promptly give to Lender all recelpts ot paid premlums << -
<br /> ' and renewal notices. In the event of loss, Borrower shaN give prompt notice to the Insurance caMer and Lender. Lender may meke _ �
<br /> ' • oroot ot loss it not made promptly by Borrower. _- _
<br /> ` Unless Lender and Borrower otherwise agree In writing, Insurance proceeda shall be appued to rostorapon or repair ot ihe Property =�•_:�_
<br /> ; damaged, I(the restoratlon or rEpalr is economicelly feasibie and Lender's security Is not lessened. If the restoration or ropalr Is not ,�`�=�
<br /> economlcaNy feasible or Lender's securiry would be lessened, lhe insurance proceeds shaN be applied to the sums secured by this ,.,���r_
<br /> Security Instrument, whether or not then due, with any excess pald to Borrower. If Bortower abandons the Property, a does not r__� . ..____.
<br /> answer withln 30 daya a notice from Lender that ihe Insurance carrier has oHered to seriio a clalm, then Lender may collect the :��4�i�
<br /> insurance proceeds. Lender may use the proceeds to repafr or restore the Property or to pay sums secured by this Security •, r
<br /> Instrument,whether or not then due. The 30•day period will begin when the notice Is given. '��' '
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<br /> otherwise a rec;In wdting, any applicatlon of proceeds to principal shall not exlend or postpone the ����:;`.,,r•
<br /> IUnless Lender and Bortower 9 :
<br /> � due date oi the monthly payments referred to In peragraphs t and 2 or change the emount of the payments. If under paragraph 21 , �
<br /> � the Properly is acqulred by Lender, Borrower's right to any insurance poNcles and proceeds resulting from damage to the Propctrty prlor .
<br /> ' to the acquisilbn shell pass to Lender to the extenl of the sums secured by this Security Inslrument Immedlalely prior to the
<br /> acau�snion. Borrower's Loan
<br /> 6. Occupancy, Preservation, Malntenance and Protection of the Property;
<br /> Appltcation; Leaseholds. Borrowor shall occupy,establish, and use the Property as fiorrower's principal resldence within sixty �
<br /> days after the execution of this Security Instrumant and shall continue to occupy the Property as Borrower's principal residenCe for at �
<br /> ' least one year after the date of occupancy, unless Lender othenvise agrees In writing, which consent shflN not be unrensonably
<br /> withheld. or unless extenueting circumstancus exist wnich are beyond Borrower's control. Borrower shali not destroy,damage or Impair
<br /> the Property. albw the Property to detenorate, or commil waste on ihe Proporty Borrower shaN be in default if r,ny torfeiture ectlon or
<br /> proceeding,whethor civll or criminal, is begun thut in Lender's good fafth judgment could result in torleiture of the Property or otherwlse I
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<br /> materialiv Imneir the lien created by this Security Insirument or Lender's securiry interest. Bortower may cure such a default and
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<br /> reinstate, as provided in paragraph 16, by causing the action or proceetling to oe dismisseo w�ii� a iviiiiy ��a:. ;�� �e.•...,.'� y�-.. •.-•••• r � .
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<br /> determinalion, precludes forfeiture ot 1hQ Borrower's interest in the Properly or other materfal impairment oi the I�en created by this �
<br /> _ Security Instrureant or Lender's security interest. Bottower shall also be in default i( Borrower. during the loan application process. 4
<br /> gave materinlly false or inaccurate fnlormation or statements to Lender (or failed to provide Lender with any material Iniormalion) in �
<br /> ' connoction with the loan evidenced by the Nole.mcluding. bul not limited to, representations concerning Borrower's occupancy of the ;I
<br /> Froperty as a principal resldence. tl this Securily Inswment is on a leasehold. Borrower shall comply with aN the provislons of the i
<br /> lease. I(Borcower acquires fee title to the Properry. the leasehold and the fee title shall not merge unless the Lender agrees to the ,
<br /> merger in w�•iting Fo����s�»e 9i9U �
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