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<br /> � � Borrowers escrow account under Me federal Reat Estate Settiement Paacedures Act ct �974 as amsnded trom time to trtne. 12 U.S.C. � - ..r
<br /> 4 ,.�.
<br /> ' 260/ et Seq.("F�ESPA'),uni85s 8not�er law that app�ies tc the Funds 5ats a t0sser emounL If 50,Lender may,at eny time.Co�1eCt 9nd ��... �
<br /> ' ,� - hold Funds tn an emourt not to exeeed the tesser amount tsnder may esttmaLe the amourri ot funds due on the basis ot currm�t dam�� ' •
<br /> c _� and reasonahte estUnates ot expenditu�es o!future Escraw Items or otherwise v�a�cordance with appllcab(a Iaw. � �. < < :•:
<br /> � '. . .� The Fnnds slrall G9 hefd In sn insmution whose dePOSiis are besured by a federel agencs►. �sWmenffifdy� or ent�ty McNdtng o �` .-
<br /> � � Lender,d Lender is sueh en instdutlon)or a►any Federai FEame Loan BMMk. Lend9r$haD BDOh�e Funds to pay tfte Esuow tterr�g. ,
<br /> `a .., ° , � . Lender may not charge 8oaower far hotding and apprytng the Funds,ennualry enaystn9 the es�roW aCeoun� or veritying the Esrxow � `��� `. ,
<br />� ` �r Items,untess F.�Oer gays Bortower interest on the FwTds and apOUeaDte ta'r+PermRS Lender to make such a charge. Howevat,Lender � F;, �`
<br /> ' mey reQuUO Borrower to pay 8 onatime C h 8 r g9 fot en In Q e ye�det►t�ea�esffite tex�e0�ttln8 S8lvice used by Lende�in Connection w3h � . -�`q
<br /> `� ` � � thts [oen.unless appGcaCl�law ptovides otherwtse. Uniess en agresment is made or aypOCebfa law requtres interest to be paid.Lender � ` ' ��r
<br /> ` � shalt not be requtrad to pay BoROwer any interast or eart�Ings an Me Funds. Borrower and Lender may agree tn wr�n8.howaver,tnat �
<br /> � - tnterest shali be pald on Me Funds. Lender sheD give to 8orrower. w�hout charqe, en aneual aecaunting of Ne Funds. s�owing �
<br /> _,_,.4,.f.s'.� _ txedits end Qebits to the FunQS a�d the purpose fOr which eaCh debit to the Funds was made. The Funds are ptedged as addiGonal t� , .
<br /> �� � � securily for aU sums secured by this Securiiy tnstrument �• r
<br /> � ' " If the Funds hetd by Lender exeeed the amounts pertnitted to be hetd by applicebte�w,Lender shall eceount to Borrower fat the �� .� �
<br /> .L.. , excess Wnds � accordance wdh the requh'ements of aDplicable law. It the amount of tfie Funds hatd by LenQer at any tlma(s nat
<br />�"sf�a� suKxient to�ay the Escrow Items when Que.Lender may so nOtBy BaRawer tn w�inB.aed.in Sueh ease Barrower ShaO pay to Lender
<br /> � the amourrt necessary to make up Me deTiciency.Bomower sAell make up the deficisncy in no more than twetve monthy payments.at � � �
<br />��y:�. . . , , ,' ; • ``'.s..�.
<br /> ' Lendefs soie discretion. '`•`":_�
<br />' .%�., • � `• Upon payment 6►tuu ot e11 sums secured by thls Security insaumer►t.LenQer sha11 pcomptty refund to Bomower any Funds held by ..,; ' �..:.,_
<br />- Lendec if.under paragraph 21, Lender shaU acquire or se0 the PropeRy.Lender.ptlor to the BCquis�tion o�sa19 0!tha PropeRy.shaD �' '�_^. �:?...r.:.:
<br /> apPty eny Funds hetd by Lender at the tcne of acqu�fion or sate ss a cred�8gainst the sums secured by this Security InsuumenL ;�. � - _
<br /> �"j, ' � 3.Appltcation of Payments. Untess applicab[e law provides otherwtse.all payments received by Lender under paragraPhs =-
<br /> -" • t and 2 s�atl be appli�d:first,to any prepayment charges due unQet the Note; second,to amounts payabte under parag►aph 2;third
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<br />_ ' . � to interest due;fourth,to prtnc�pal due:end las�to any tate eharges due under the Nota . `. ."�
<br />�'� „ ; � '.. 4. ChBf$�S;ULffB. Banowet shall pay atl taxes. assessmeets. charges. ftrres e�d imAosiNons ambutabte to the Proflerty _ �
<br /> -: � �,.,,� which may attain prioriry over this Securityr Inswment, end teasehotd payments or ground rents, if eny. Bortawer shail pay these ' <;, .��,a_
<br /> s,_ � _•,. obligatbns in the manner provided tn paragrapA 2,or d not paid in that manner.9orrower shaU pay them on time direcitY ta the parso� ` � � �-
<br /> h H Borrower makes ,,"�'
<br /> awed payment. �ortowar shali promptty tumish to Lender all noUces of emounts to be pa(d under th(s peragrap • :�„t'
<br /> - ° � these payments dlrecty.Bortower shaU promptty fumts�to Lender receipts evidenc�g the paymertts. ��`
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<br /> 8ortowet SAaO promptry dfscharge eny Iten whfch has PdnritY ove►th(s SeCU�it�l�ns0ument untess BoROwer:(a)a�ees in wr�ln9 to r
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<br /> ' - the Oayment of the obiigation secarred by the Ren(n a mannar acceptab�w lender, (b)cantests tn good taith the Ren by,or detends la�-�`�
<br /> " � � against enforcement of the I�n in,tegaf praceedtngs whicb tn the Lenders apinton operate to prevaet the entoraem�tt of the Iten;or{a) _ .�
<br /> � secures hom the hotder af the tien an agreement sat�factary to Lender subordmating the Iien w th�Securiry InsUUment tt Lender .• :�.�-
<br /> Geteanhes that any part af the Property is subJect to a fien whbh may attatn priority over this 3ecurdy Insuuman� Lender may gNe -.—�+.�
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<br /> Borrower a notke iQentiying the 1'ien. Bonower shall saNsry the Iten or take one or more ot the acttons set bRh above within 10 CBys .2s�u
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<br /> � . ) • of the givtr�g of notice. -
<br /> � ' S. Hazard or Property Insurance. Borrower shali keep the impravements now existing or hereafter ereCted on the , .•:`�'-
<br /> �,� . •
<br /> � '' < Property Insured aga6�st loss by�'ve, hazards inCiuded within the term "extended Coverag9"a�d any Other hardrds, tnCh�dirig flOOQs or r:r •:�,
<br />- � • � flaodc�g, tor which Lender requues insurance. TR►s insura�Ce shall be s�aintained in Ns amounts 8nd tot the peflods that Lendes . _:'K��."_?�_
<br /> `------ - requues. The tnsurance caRier Groviding the�nsurance shaU be chosen by Borrower subJect to Lenders approvat v�hbh shall not be
<br /> unreasonabty vrfthheld. M Bonower fails to mainmtn coverage descnbed above,Lender may,at Lenders opHon,obmfn coveraSe to :�.;{:Y.
<br /> • ' proteCt Lenders rights in tne Property in aceordenCe with Para9�eDh 7. , ,:" .,,•..
<br /> � � All insurance poiieies and renewats ShaD be aCCeptaDte to Lender end sAail tnclude a stand8rd mortgage clsuse. Lsnder shaU have .. . �;�r,,
<br /> � " ' the right to hoid the polctes and renewats. if Lender requtres, Borrower shall prompty giv9 to Lender all recelpts of paid premiums •� .,� =
<br /> ' • ' • ana renewal notices. In the event of toss, BoROwer st+all gNe prompt not�e to the insurance carrfer e�d Lender. Lender may make �_'�
<br /> � � � . • prool ot Ioss H not made promptty by 8onower. �` �: __
<br /> - Untess Lender and Borrower otherwise agree fn writm9.insurence proCeeds ShBtl be applied to restor8tion 0►repa"v Ot the Property {`;,
<br /> � damaged, if the�estoratian or repaU is economicaly teasible and Lenders securityr is not tessened. If the restoration or repatr Is not . -
<br /> � � s economically f88s�b18 or Lenders seCUrity warid be tessened, the insurance ptaCeeds sha8 be appiied to the saams SeCUred by thi9 •
<br /> �, � � ' Security Instrument, whether or not t�en Cue, wfth any exCess paid to Bonower. If Borrower 8bandons the Prapertfi. or doe9 not ,.
<br /> answer within 30 days a notice hom LenQer that tA� �surance carr�r hes oNered t0 settle a claim, then Lender may Collect the . ,
<br /> - ,� ' ',, insurence proceeds. Lender may use the proceeds to tepair or restare the PropeRy at to pay sums secured by this Security . ,
<br />_ � Instrument,whether or not then Que.The 304ay period w�l beptn when the nOtlCe is given. . :
<br /> � • Uniess Lender and 8orcower oiherwise agree in writing,any ap0��tion ot proCeeds to princtpal shall not e�Rend or postpone the � + :
<br /> 'I�' due date of the monthiy payments referted to in paragraphs 1 end 2 or Change the amount o}the payments. N under paragraph 21 ,.
<br /> � the Property is acqutred by LenEer, Bortowers right to ery�nsurance policies and proeeeGs resuRing from damage to the Property prior
<br /> • � � to the acquisition shall Oass to Lender t0 tt�e extent of tAe Sums SeCUred by ths Secutity fnSWm0n1 immed3ately prlor to the : �
<br /> ac4uisiNon. � .
<br /> • ' � . . �� 6. Occupancy� Preservatlon, Maintenance and Protectlon of the Property; Borrower's Loan . .
<br /> . � AppUCetiOn; Leaseholds. Borrower shall oCCUpy, eStabGsh. anA use the Property as Borrowet's princlpal residence within Sixty '
<br /> � days after the executlon ot this Security instrument and sha11 continua to occupy fhe PropeAy as Bortowerg principal residenee for at `
<br /> least one year after the datb o1 occupancy, untess Lender otherwise agrees in writing, whiCh consent shail not be unreesonaby , '
<br /> withhetd,or unless extenuating cucumstances exist whkh ere beyortd Bonowers control Borcower shatl not desVOy,damage or impaU �
<br /> the Propeni,altow the Property to deteriorate, or commit waste on the Property. Bortower shall be ln defauft il any forteiture actian or
<br /> . proceeding,whether civil or criminal,is begun that in Lendars good laith JudgmeM could result in foAeiture of the Property ot othenvise •
<br /> � materialry impaU the Uen created by this Security InsWment or Lender's security interest. Borcower may cure such a default en0 .
<br /> • • reinstate. es provided In paragraPh 18,by causing the acNon or proceeding to be dismissed wilh a tul'mg that,in Lenders good fafth
<br /> ' ' • � determinatlon, prectudes torfeiture ol the Borrowers interest in the Property or other material impairment ot the lien created Dy thls .
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<br /> Security tnstrument or Lender's security interest. Borcower shatl atso be �n defauR if 8onower, during the toan appl�ation process,
<br /> . . � gave materialy false or inaccurate intormation or sfatements to Lender (or tailed to provide Lender with any materlal intormation) in
<br /> � � ConneCt�on wdh the �oen evidenced by the Nole. �nGudmg, but nOt IfmRed to. representatlons ConCerning Borrowet'S OCCUpanCy ot the
<br /> ; � PropeAy es e p��cipal �eSldenCe. If this SecurAy Instrument �s on e Ieasehol0. 8orrower shall compry wdh e�l the provisions ot the �
<br /> � ! IBaSe. If BOrtOwgr aCquirAS }Be tdte to the PrOperty, t�e teaSehOld end f�e fee title Shell nof inetge unless the LendBt egrees to the
<br /> ' � merger in wrRing. Fo�m aoza aroo ` . '
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