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<br /> � Bonowers escrovi aCCOUnt under the federal F�gai Estate Settiement ProCedures Act ot t974 as emended trom tane to Ume. 12 U.S.G c L��` �```r� 1'
<br /> �
<br /> . 2601 et seq.('RESPA"),uniess enother law that eppGes to the Funds sets a I955er emaunt lt so,Lereder may.fl18ny Urt'A.C008Ct 8nd •i :e'J.• `
<br /> � • ; hotd Funds in an emount not to exceed th8�sser emount Lertder may estimate th@ amount of funds dua On Me basis of current dsta .--f�z �
<br /> .; , end tessonsbie astunates o!expendfitres ot future Escrow Items et othetwtse In eccordance w@h appBeah�law. ' . �. .�,
<br /> 'iha Funds shall be held (n an instHuUon whose deyosRS are tnsuced Cy a tederal qqancy, instrumenffiIdy, or entitq (6�clud�ng�
<br /> _ , , ' �� lender.if Lender is such an institution)or in enY Federai Home Loan Benk. lender ShaD apPry fhe Funds ta pay the Escrow Items.� ,.� � ; �
<br /> ,, ,, ; � lsnder may not eharge Borrower tor hotd�g and appytng tl�e Funds, enRUally anatyIIng th9 escrow account, or verRyrmg the Escrow � _,�,. , '�`
<br /> � • � 1 items,untess Lender pays Borrower tnt�est an Ure Funds and appGCabl�taw petm�s Lender to make such a charge. However.LenQer� . � ���'
<br /> � � ` �� may requtre @orrower to pay a anetime charge toc an rtfQependent reel estate tex reporting serv3ce used by Lendet+n connection wdA� •
<br /> � ,, � Mis laan,unless apptieehie law prOvides oLherwise. Untess en 8greement is made or appia�bfe law requ'sss mterest to be patd.Lender�
<br /> - '� shall not be requ'vett to pay Bortower any interest or eamings on the Fuads� Bortower end Lender may agrea in writing. however,thai� } •' . l '
<br /> �- �...---�.;�. � �w
<br /> � . �terest ShaU be pHid on the Funds. Lender shail qive to Bortower,•wi[hout Charge, an annaal acCOUntinp of the Funds, showmge9�
<br /> , � "Y -- Crod'RS and detMS to the Fnnds and ths Rwpose tor wh+ch esch Qebil w the Funds was made. The Funds ere pfedged as add�tional� - _
<br /> . � sacurRy far aV sums secured by NLS Security InstrumenG . - � �
<br /> ` � If Ne Funds het0 by LentJ9r exceed tl�e amounts permdted to be hetd by appfs;able faw,Lender sheU aceount to Bwmwer tor the , � �= '
<br /> � �cess Funds tn accordance w�th the requQements of appUcab�law. If the amount at the Funds held by Lendar at any Ume is not , �a �
<br /> w.
<br /> � _ sufhctent to pay the Escmw Items when due,Lendet may s0 not3y Bortower in vm't�g,enQ tn such csse Bortower shaD psy to Lender
<br /> . � ' A;,�•
<br /> _ tt�e emount necessary to make up the deficlency.Borrower sAaO make up the deftciency 8n ao more than rveive montfiiy payments.at •
<br /> . , Lender's sole d'�screUon. ` . .�;.
<br /> .
<br /> _ , i Upon payment in fuU of aU sums secured by this Secnrity InSWment.LenQer sha0 prorr�yty retund to 8orrower any Wnds hefd by ...:���;'"
<br /> . Lender. If,under paragiaph 21,Lendet Sball acqu'ue or se0 the Properiy,Lender,pdar to the acquisdion or sate ot the Propertyr,shaU � � �-`{•`"` ��
<br /> ' • ' apply any Funds hetd by Lender at th9 tune of 8cquisition or sale es a credit agamst the sums secured Dy thib Security Insirumenl. � � -
<br /> � - 3.AppllcaUon of Paymenta Uniess appGcabie iaw Provldes otherwise,a0 payments received by Lender under paragtaphs "
<br /> , , , � 1 and 2 shall be applied: first, to any prepayment charges due under the Note: second,to amounts payabB�unQer paragrapb 2:thirC
<br /> • . ' , to interest due;fourth,to principat due;and tast,to any tate Charges due urtder the Note. • ,
<br /> _. 4.Charges; Uens. Borrower shali psy aU taxes. assessments. charges. fines 8nd fntpos�arns 8ttnbut8b�e to the Pmperty .-�•..
<br /> whtch may atta�n priority over tAis Sacu�ty InstrumeM, and 6easehotd p8yments or ground rents. 7 any. Barrower sha0 pay tAese �``�
<br /> :_�"
<br /> •- - obGgaBons v�the manner provided in paragraph 2,or H no!patd in thet manner,Borrower shall pay tham on ttme dUectty to the person _ � .s-_..
<br /> • � • awed paymen� Borrower shall promptry tum(sh to Lend�r all noUces ot amounts to be paid under this para�aph. If 8orroxrer makes . . 'L'�.��
<br /> , � � these payments dQectty,Borrower shaU promptiy tumLsh to Lendar receipts evldenctng the payments. ��� -
<br /> �' .S'�r_
<br /> � 8orrower shall pramptry discharge any I'�n which has p�iorny over this 3ecurfty Instrument unleSS Bortower. (a)agrees in writing to •4f.� •::�:�+
<br /> •, - �,,-.t•_ the payment ot Me obiigatton secured by the Gen 6�a manner ecceptabie to Lender;(6)contests in gaod faith the Iten by.or detenQs . _.._-`•�`��'�-
<br /> � against entorcement of Me Iten in,legal proceedings wh�h m the Lende�s opinton operate to prevent the enforcement of the lian;or(c) ' ��l�-'
<br /> .. � �� • �*_i—�i,: ..
<br />' secures from the holder of the fien an agreament sattsfactory to Lender subordinattng the Iien W this Securiry InsVUmen� If Lender ;3,x___=`
<br /> � � determines that any part of the Property is subject to a Iien which may attain priority over thts Security instrument, Lender may give � ���s�y�;
<br /> � �.o-.c':�.� '-'ti'_��. .-
<br /> . Borrower a notice identilying the lien. BorrOwer Shall Satisty the lien or fake one or more af the aCBons set foRh above within 10 dSys . :;�<-._:`
<br /> ,. ot the giving ot notice. ' .'.y,�y.?r7;=`
<br /> _ , 5. Hazard or Property insurance. Bortower shall keep the tmprovements now exlsta�g or hereafter ereCted nn the •�� �r���.
<br /> + . . Property insured against toss by fire,har3tds(netuded w�hin the term 'e�dended coverage°and eny ather haaards,tncluding floods or • ' , ��,�� '
<br /> ' � . � ' flooding,for whtch LenOer reqnires insurance. This tnsurance shail 6e mafntained in the emounts antl for the periods that LenEer ' �
<br /> - requires. The tnsurance carr�r providtr►g the insurance shall be chosen by Bortower subject to Lendsds approval whtch sha0 not be . � • �r '��F
<br /> �..:-:�: ;'--;�.
<br /> - � unreasonabty withheld. If 8orrower fails to matntain coverage descrbed above. Lendar may,at Lendats option, obtsin coverage to � i'�n�'�°
<br /> �_ , protect Lenders 8ghts In the PropeRy in eccordance wftfi paragraph Z : . . � '�
<br /> �� Atl insurance oiicfes and renewais snall be acceptebte to Lender and shall(nchide a standard mortgage Clause. Lender shall heve � � �"'
<br /> P .• .,:�� .
<br /> . the rigM to hotd the po�ictes and renewats. If Lender requues, Bonower Shail promptty give to lender aU receipts of patd premiums , � , ---- _
<br /> '�r -- ._ _-- and renewaf notices. In th9 event of loss, Bonower sha11 give prompt notice to the insurance cartler and Lender. lender may make � :: . ,`O��
<br /> � � • � proot ot Ioss i1�ot made promptry by 8oaower. ' . �•�°�
<br /> � ' � � UNess Lender and Borrower otherwlse agree fi writing,tnsuranc4 proceeds shatl be appUed to restoration or repatr ot the Prqperty • � -,'.�'�
<br /> . , ,-�.
<br /> damaged, it the restoration or repair is economicBUyr feas�bfe and Lenders securdyr is not lessened. ►1 the restoraUon or repair Is not '. .
<br /> ;,; �:
<br /> . .�•y economlcaity feasEbte or Lenders secur'rty wouta be lessened, the tr►surance proceeds shatl be appAed to the sums secured by tAis � '
<br /> • . 38curity Insuument, whether or not then due, witb eny excess paid to Boaower. I} 8orrower abandons the Property, or does not � ' . -
<br /> ' , �� •'� answer w8htn 30 aays a notice lrom lender that the Insurance carrter has oftered to settte a ctaim. then I.ertder may colieCt the I '
<br /> insurance proceeds. Lender may use the praceeds to repatr or restore the Property or to pay sums secured by this Security
<br /> . Instrument,whether or not then due.The 30�day pariod wUl begin when the notice is given. • . •
<br /> ". ' Unless Lender an0 Bonower otherwise agree(n wriUng,any eppncaUon o?prOCeeQs to principal sAall noT extend or postpone the � • .
<br /> • • due date of the monthry payments refened to in paragraphs t and 2 or change the amount ot the payments. If under paragraph 21 , • '
<br /> • tho Property is acquUed by Lender, Bortower's rigAt to any insurance palicies and proceeds resuiting hom demage to the Property prlor .
<br /> y to the acquiSitian shall pa45 to LenUer to th9 extent o} the Sums SeCUred by this SeCUrity Instrument immetliatety priot t0 the : � ;{' �
<br /> I aCquisition.
<br /> . ,� 6. Occupancy, Preservation, Maln4enance and ProtecUon of the Property; Borrower's Loan : �. . . �
<br /> AppliCBtlOn; L@asehOlds. 8orrower snall accupy, estab8sh,and use the PropeRy as 8onower's prficfpal residence withln siiccty .,
<br /> � ` days after the execution of thls Security Instrument and shall continue to occupy the Property as Bortowers princtpat resldence tor at .
<br /> ' 1 . least one year after the date o} accupas+ey, untess Lender otherwlse agrees In wriNng. wh�h consent shall not be unreasonabty . • .
<br /> . i withheld,or un(ess extenuating clrCUmstances exist whbh are beyond Borrowefs conuol Bonower shall not desVOy,damage or Unpab
<br /> tAe Property,altow the Property to deterlorate,or Commit waste on the Property. Borrower shall be In detauR H any toAeiture aCtlon o► � •
<br /> � proceeding,whether civil or criminal,is begun that in Lertder's good faith Judgment eould resuR in(orfeiture of the Property or otherwtse " '
<br /> �, , materialry impeU t�e tien Created by this Security InsWmeM or Lenders secur'Ry lnterest. Borrower may cure sucb a defauR and � • '
<br /> � reinstate.as provided In paragraph 18, by caus�ng the action or proceeding to 6e dlsmissed with a ruling that, in Lender's good}aitt► .
<br /> determination, precludes foAeitute of the 8orrower's interest in the Property or othet mateiisl impairment o1 the iie� created by thls ,
<br /> , _ Security Instrument or Lender's securdy interest. Borrower shetl elso be 1n defaufl � Bprrower, during the►oan app�+catlon proCess. .
<br /> gave meterialty talse or inaCCUrste intormation or statements to Lender (or ta��ed to provide Lender wdh any material in}otmation) in : � .
<br /> _ : t connection wRh the �oan evidenced by the Note, includi�g, but not IimRed to,representaHOns concerning Borrowers occupaney of the
<br /> I Property as a princtpal residence. I} this Security Instrument is on e feaSeAo►d, BonOwer shell Comply with ell the provi5ions ot the .
<br /> . lease. H 8orrower acqu"ves fee tdle to the Property. IhA leesehold end the !ee tit(e SNall not mArge unfess the Lender egrees to ttfe . '
<br /> � merger in vading. �
<br /> - � _ Form 3078 9lBO _ �
<br /> � • . .. ' : Ft029.LM0�t0/97) Paqe 2 of 5 t{` �
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