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<br /> IBortower's escrow account under the federal Real Hstace Settlement Proceduras Act of 1974 as amanded from tlme to t1ae, 12 U.S.C. I ' -_
<br /> 2601 et eeq.("RESPA"),unlesa another law thst applles to the Funds sets a Iesser amount. If ao, Lender mey,at any t1me, collect and
<br /> hold FundB In an Amount not to exCeed the lesser amount. Lender may estimate the amount ol funds due on the basls ol current data �`�
<br /> and reeson�ble ostimates of expenditures of future Escrow Items or othenxlse In acc�rdflnCe with appi�able �,w. '::
<br /> 1 The FundS sh811 be held in sn In6titutlon whose deposlts are Insured by a Iederai agency, Instrumentality, or enlily (Including
<br /> Lender, if Lender Is such an Institutlon) or in any Foderel Hnme Loan Bank. Lender shall apply the Funds to pay the Escrow Items. � �.'
<br /> Lender may not charqe Borrower tor holding and applying the Funds, annuaey analyzing the escrow aCCOUnt, or verityVq the Escrow � �''�
<br /> Items, uniess Lender pays Borto�ver Interest on the Funds and applicable law permits Lender to make such a charge. However,Lender ( _
<br /> � may requlre Bonower to pay a one�time charge tor an Independent real estato tax reporting serv�e used by Lender in ca�nection wfth
<br /> this loan, unless appl�able law provides otherwlse. Unless an agreement Is made or appl�able law requlres interest to be pald.Londer �1
<br /> shali not be requlred to pay Borrower eny Interest or earnhgs on the Funds. Borrower and Lender may agree in writing,however, that � _,
<br /> � Interost ohau be pald on the Funds. Lender shall gHe to Borcower, wkhout charge, an annual accounting of the Funds,shpwing � ```
<br /> credfts and debfts to the Funds and the purpose for whbh each deblt to the Punds �,as made. The Funds are pledged ns edditlonal � _
<br /> securily for all sums seCUred by thls Security instrument. _
<br /> If the Funds held by Lender exceed the amounts permitted to be held by appllcable law.Lender shall account to Barower tor the
<br /> excess Funds In aoc�rdance with the requlrements of appi�eble law. If the amount of the Funda held by Lender at any tMe !s not -
<br /> sufflaient to pay the Escrow Items when due, Lender may so notlly Borrower in writing,and, in such case Borrower shanpay to Lender - -
<br /> the amount necessary to make up the defblency. Bortower shall make up the defblency in no more than hveNe monthry payments,at I
<br /> . Lenders sole dlscretion.
<br /> Upon payment In full of all sums seCUred by this Securky Instrument,Lender shall promptly refund to Borrower any Funds held by r�_.
<br /> Lender. If,under paragraph 21, Lender shali acquire or ssil tha Property,Lender,prlor to the acqulsqlon or sale of theProperty, shali
<br /> apply sny Funds held by Lender at the time of acquisftion or sale as a credft agalnst the sums secured by thls Security mstrument•
<br /> 3. Applicetion of Paymenta. Uniess appl�able law provides otherwise, all payments receNed by Lender under peragraphs
<br /> 1 and 2 shall be appiled: first, to any prepayment charges due under the Note; second, to amounts payable under paregraph 2; thkd -_
<br /> to interest due; fourth,to princlpai due:and Iast,to any late charges due under the Note. _ -
<br /> 4. Chergea; Liens. Borrower sheli pay all taxes, assessments, charges, fines and Imposidons attributable to the Property _
<br /> �' whiCh may attain priorky over thls Security instrument, and Ieasehold payments or ground rents, if any. Borrower shalt pay these -
<br /> � obligatlons In the menner provided In paragraph 2, or if not paid In that manner, Borrawer shall pay them on tlme dlrectly to the person V.',-_
<br /> owed payment. Borrower shell prompty fumish to Lender aN not�es of amounts to be pald under this paragraph. If Barower makes �
<br /> these payments dlrectly,Bortower shall promptly fumish to Lender receipts evldencing the payments. :�'�,`�5`��—
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<br /> Borrower shall promptly discharge any Iien which has prlority over thls Security Instrument unless B�rrower: (a)qgrees in writing to ,:••t�i�
<br /> a
<br /> the payment of the obNgation secured by the Ilen In a manner acceptable to Lender, (b)contests In good falth the Ilen by. a defends � .`f�
<br /> against entorcement of the Ilen in,legal procaedings wh�h In the Lender's opinion operate to prevent the enforcement of Iha 6en; or(c) .� �%
<br />- aar.ures irom the holder of the Ilen an agreement satisisctory to Lender subordhating the Ilen to thls Security Instrutnent. If Lender . i �h��:��_
<br /> determines that any part ot the Property is subJACt to e Ilen whlch may attain prlority over this Security Instrument, Lender may give , ��—
<br /> � BoROwer a not�e IdentNying the Ilen. Bortower shall satisfy the Ilen or take one or more of the actions set forth abovewithin 10 days • �� �y
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<br /> i o t t he p N ing o f n o t�e. r~
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<br /> � � 5. Hazard or Property Insurance. Bortower shall keep the Mnprovements now existing or hereafter erected on the �� �
<br /> � �� ��
<br /> _�� Property insured against loss by flre,hazards hcN,ded wlthln the torm "extended coverage" and any other hazards, IncUding tloods or �:n;;
<br /> "'r fboding, for whbh Lender requlres �nsurance. This Insurance shall be mahtalned In the amounts and for the pertods that Lgndor ���
<br /> requkes. The Insurance carrler provlding the Insurance shall be chosen by Borrower su4Ject to Lenders approval whl�h shail not be
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<br /> +�• unreaeonabiy wkhheid. If Borrower faAS to maintaln coverage described ebove, Lender may,at Lender's option, obleh coverage to �F=___
<br /> .' proteCt Lender's rights In the Property In accordance with paragraph 7. _ ----_
<br /> ' All Insurance pol�les and renewals shali be acceptabie to Lender and shall include a st8ndard mortgage clsuse. Lender shall have _
<br /> � the rqht ta hold the pol�ies and renewals. If Lender requlres, Borrower shall promptty gNe to Lender all receipts of paid premiums -=
<br /> , and renewal notlCes. In the event of loss, Borcower shall glve prompt not�e to the Insurance cartier and Lender. Lender may make
<br />- proof of loss If not made promptly by Borcower.
<br /> Unless Lender and Borrower otherwise agree In writ�ng,�nsurance proceeds shall be applled to restoratlon or repak of tho Property _ _
<br /> �, damaged, If the restoration or repalr Is econom�aliy feasible and Lender's secudty Is not lessened. If the restoretion or ropair Is not -� —
<br /> _ econom{caAy feaslbte or Lender's security wouid be lessened, the insurence proceeds shall be applled to the sums secured by thls __ __ __
<br /> -� Security Instrument, whether or not then due, with any excess pald to Borcower. If Borrower abandons the Propeny. or does not
<br /> enswer withh 30 days a nottce from Lender that the Insurance carrier has oHered to settle a clalm, then Lender may collect the =_�—
<br /> - �?�d.----
<br /> Insurance proCeeds. Lender mey use the prcceeds to repair or restore the Property or to pay sums secured by thls Security —_--
<br /> InstrumenL whethor or not then due.The 30•day perlod wfll begin when the notke Is gNen. -J� . .,, Y..
<br /> Unless Lender and Borrower otherwlse agree in writing, any applfcation of proceeds to principal shall not extenci Or postpone the �•• ���;�tr.
<br /> . �%a��".3.°i" F.r..
<br /> , due date o} the monthiy peyments referred to In paragraphs t flnd 2 or change the amount of the payments. If under paragraph 21 � -,,;.., •
<br /> the Property Is acquired by Lender,Borrower's right to any hsurance pollcles and proceeds resulting from damage to the Property prlor -�;t.�,.;.
<br /> to the acqulsition shell pass to Lender to the extent of the sums secured by this Security Instrument Immedlately prior to the • �y;y�
<br /> acqulsltion.
<br /> 6. Occupancy, Preservetion, Ma:ntenence and Protection of the Property; Borrow�r's Loan
<br /> Applieation; Leaseholds. BoROwer shall occupy, establish,and use the Property as Borcower's princlpai resiclence withln sixty
<br /> days after the executbn of thls Security Instrument and shail continue to occupy the Property as Borrower's princlpalresidence tor at
<br /> least one year after the dete of occupancy, unless Lender othervvise agrees in writing, whfch consent shall not 6e unreasonabiy
<br /> - withheld,or unless eMenuathg cPCUmstances exist wh�h are beyond Borrower'S Controi. Borrower Shall not destroy, demage or Impair
<br /> _ I the Property,allow the Property to deteriorate, or commR waste on the Property. Borrower shall be in de(ault if any imleiture actbn or
<br /> proceed'ng, whether cNil or criminal,is be4un that h Lender's good faRh judgment could result In forfeiture of the PropeRy a othenvlse �
<br /> _ � materl8ily impalr the lien created by this Security Insirument or Lender's security Interost. Borrower m&y Cure such a default and
<br /> ` relnst9te,flS pfOVICBfJ �n paragrapn i$, oy cnuai�i" ii�&dC.��'vR GT ""
<br /> .,...a�......, w.. a�.....teesa ...i�l. u n.linn fhnf in I aMwr'e nnn[1 fAith . _
<br /> . y y�....00...��y ....... ..............._ ..... _ ._- -o . _.. -- �- .. - --..,— —.
<br />- determinatlon, preCludes forfeiture of the Borrowers �nterest in the Property or other material impairment of the Ifoncroated by this �
<br />� Secu�ity Instrument or Lender's security irterest. Borrower shall also be in default if Borrower, during the loan appli�at�on process,
<br /> g8v8 mAteriolly false Or Inaccurate in(ormation or statements to lender (or ftiiled to provide Lender with any materal infamatbn) in ,
<br />- connectlon with the loan evidenced by the Note, including, but not limlted to, representatfons conceming Borrower's acupency of the j
<br /> Property as a principal res�dence. If this Security Inslrument fs on e leasehold, Borrower shflll comply with ull the provis�ons o� the
<br />� lease. It Borrower acquires fee tit�e to the Property, Ihe �easehold nnd the fee t�tle shflll not merge unless the Lende� ag�ees to the
<br /> - merger in writfng. �
<br /> fo�m �078 fl/00 �
<br /> � F1010 LMO(�OiB)) Pago 7 0�5 �
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