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<br /> `. .: , ` i � _ — .�. _ {_ _._ ._. . . - — — - . , . _ . . � i . . x =`ti
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<br /> = �, t ` ''. I Barrowec's escrow ar.count under the teQeral Real Estate Sett►ement Procedures Act ot �97a as amended trom tune to time. 12 U.S.C. t' : .
<br /> ` .i F. • .
<br /> ` �.� 250� et seq.('��A"),untess aaather law that appties to the Furtds sets a�esser arnount. If so,lender may.at any tane,coifect and
<br /> hoid Funds in an amount not to exceed tNe�esser amount Lender may est�ate tne e�nount of(unds due On the basis of current daffi � �, " . ,} `
<br /> ' I�Cdbie taw. . �
<br /> • and reasonabte estunates ot 8xpendAures of future ESCrow Items or othenvise m aecortlarre wdh app' mctudm � ` � • ' ,
<br /> � The Funds shan be hetd m en i�stitution whose deposits ere msu�ed by a federaf agency. insuumentalitl'� or entity f 9 i t "" i
<br /> the Funds to 08Y mB��'N ��• i�
<br /> Lender. it Lender is sueh 8n uist�uon)or m 8ny Federal Home Loan 8ank- Lender shall BpRly ,
<br /> � Lender may not c�argo Bortower tor hotQv�g and aPPN�g me wnds.8^nuaUy anayzin9 the eserow account. or verdyring the EscrovJ� � , .
<br /> i Rems.un�ss Lendet pays 8orrower mtefest en Me Funds an�eApi��e�W D�►��'�nder to meke suCh a cherge. However,Lender f��,
<br /> may requQe Borrower to pay a onatcne charge for an mdepsndent ceal estate sax reAort�4���ed by�-ender �conneetion with otl �' ` �
<br /> ' , - � .:� this toan.unless aADiicable law provides otherwise. Uniass en agreement is made ar eAP��'cab�der ma agr et rt�wtritin9.howev8r.that� y � � • . ..
<br /> , • � Shall not be requ'ved to pey 8ortower A�y �rt e�e s t��e 9 m°�9 5 o n t h e F u�d S. B o rc O w e r a n Y
<br /> �� � mterest shall bs paid on tne Funds. L.e�der shall give to Bortower. without charge, an annual accounting of the Funds, showc�g� ,`:�' .
<br /> tt � , � cre6its and debits to the Funds end the purpose tor whiCh each debR to the Funds was made. The Funds&re p�edged as adtlitional • , ; `r.
<br /> :.•.i
<br /> -- ; security(or au sums secured by this Securt�r snsuument _ � =-:1- -
<br /> ' it the Funds held by Lender e�cceed the amounts perm+tted to be heid by appficable law•Lertder shall aCCOUnt to Bortower for the
<br /> - . � . •
<br /> � ,� excess Funds �► accordance with the requirements of apPficabte �aw- If t8e amount of the Funds hetd by Lender at any t6ne is not _ ` - _
<br /> : .. ;`; sufficient to pay the Escrow Items when due,Lender may so not�y Borrower a�w�n9.ana�such case Borrower shatl pay to L-ender - ,
<br /> ; the amount necessary to make up the deficlency Bortower shall make uF the deTx��7► N�o ma���e�manthly payments,ffi (
<br /> Ixnder's sote discretion. . --
<br />'�?'. ' ' ;�.�) UPOn Payment in fuil ot ali sums secured by this SecuritY tnstrum�b Lender sheli prompUY retund to Borrower anY Funds heid by , � ,`;
<br />`;; , , • � rior to the acquis�ian ar sale of Me Propertyr.shali ,
<br /> �• - �ender. If,under paragraph 21,Lender shaU acquue or sell the PropeRy. t-end�,p rn''t
<br /> "- yppty any Funds held by Lender at the time of acquis�ion or s8fe as a Credit aga�st the sums secured by tfiis Seeurity��strumen4 r f,` .,.;"
<br /> ` ' � 3. Appi[cation of Paymertits. UnTess applieab�e(aw provides otherwise.all paYments received by Lender under paragraphs �:_,_,
<br /> i . h 2,thitd �
<br /> r • ` t and 2 shall be 8ppred: Cirs�to eny p�epay��Charges dus under the Note: seCOa�.to amounts payab►e unQer paragrap �
<br />�c' � inte�est due: fourtn,to principal due:and tast,to any fate charges due under the Note. ��, � ��.:
<br /> to
<br />.3 V" .
<br /> _ ;. � . 4. ChBtg@8; L.tena 8ortower sna11 pay ail ta�ces. essessments. cherges. imes and �posetans ettnbutabte to the Property �. •,y. -.
<br /> �i whtCh mdy 8ftdm pnorRy over Ihis Securrty insaument, and tease�otd payments or graund rents, A any. Bartower shall pay these
<br /> .:.r��4.
<br /> � , �;=
<br />_ � ' -, .•: � obfigations�tne manner praviQed in para9raPh 2,nr A not pal0 in that manner,Borrower shaU pay them on time tlrcectly to the person �y-L_ —, 'i`_''
<br /> owe0 paymen4 Borrower shall prompty tumisD to LenQer a��nvt�ces ol amounts to be paid under lhis paraBrePh. If Bortower mskes ._-_
<br /> . �<<�
<br /> % tnese oaYments O�ectry.8orro�ver shatt promp[ry Nm�sh to Lender receipts ev�dencing the OaYments. `.
<br /> . . � `�' _-
<br /> ; � 8onower sha0 pramptty discnatge any lian which�as pdority over thls Security fnstrument untass Bonower.(s)8g�ees in wrRNg to �!'
<br /> ' � • t�e pa+nnent at the obligetion SecureA by the��en in 8 manner BCeeptabl9 to Lender, (b)Contests in 9ood�ait�the tien by,o�defends � `�.;,�w.'`
<br /> .. �,1�.
<br /> ,;.� `~� against entarcemeM af the fien in.Tegal proCeBdingS which in the LeadePs op��on opflfete t0 p�event the 8nforCemeM of the��en; or(C) , ` - =ry.;_�'F';.:;
<br /> securas hom the holder of the Iien an agreement sat(sfactory to Lender subordinating the lien to triis Security tnt�irument. N Lender -�`,���,
<br /> �� �� determines Mat any part a} the Property is subjeet to a lian which may attain p�iorflyY over Mis Securiry Inswme�t. Lender may g�ve , ;��_—
<br /> �,I Borrower a notice identilyring the lien. Bortawer shall saUSty the Aen or take one or more ot the actions set(oRh above vrithin t0 days 4;�?:r;p;�n,
<br /> • .. .'�.i�a�4�7*f'�.
<br />,- . , of the giving of notice. � �a,
<br /> • .� 5. Hazard or Property Insurance. Botrower shail keep the �Oroveme�ts now exi5ting ot hereafter eteCted on the �, :��=�
<br /> Property �sured against Ioss by fus, hazards inctuded wRhfn the term"extended coverage"and any other hazerds, inciuding floods or �� r_�;_
<br /> �h.' � , • � flooding. for which Lender requires insurance. This insurance shall be rnatr�teined �► the amounts and tor the periods that lender , i}�x.:
<br /> ,t - requ'aes. The insuteflce cartier providing the insurance shall be chosen by Bortower subjeCt to Lenders approva�whfch shatl not be t��.'
<br /> unreasonably withheid. !t Borrower faits to mainta� ceverage descr�bad above. Lender may, at Lenders option, abffiin Coverage to . ; , ,`
<br /> •�- protect Lender'S rights in the Propecty in accordence with paragraph 7• �.:,:-�k;
<br /> � :• all insurance Do�icies and renewats shall be acceptable to Lender and sha11 include a standard mortgage cisuse. LenCer shall have , ��Y__
<br />: the right to hatd the poi'�ctes and renawas. If Lender requ'ves, Borrowar shail promptly give to Lender ail receipts of Daid Prem.iums
<br /> .„S'�
<br /> ' �. `.� and tenewat notice5• �n tde event ot loss, 8ortowet shell give promp: notiCe to the �nsuranCe Catrier 3nd Lender. lender may make �.�r�,'�
<br /> � proot ot Ioss if�ot made prompt►y by Bortower. ; . : •� •'--_�
<br /> ' Unless Lender and Borrower otherwise agree in writmg,insurance proceeds shall be appfied to restoration or repah of the Property -
<br /> ; damaged. if the restoration or repair is economicaliy teasbte and Lenders secur'Ry is nm lessened. if the restoration or repa'v is not • ':��
<br /> economicalty teasible or Lenders security would be tessened, the insurance proceeds shall be appiied to the sums secure0 by this �•
<br /> •�:rr � Seaurity inswment, whether or not then due, with any exCess paid to Bortower. tf Barrower abandons the Property, Or does not ; •.
<br /> '�� answer within 30 days a notice from Lender that the insurance eanier has otfered to 5ettie e ctaim, then Lender may collect the
<br /> � insurance proceeds. Lsnder may use the proceeds to repab or restore the Pmperty or to DaY sums secured by this 3ecurityr . .
<br /> ' tnstroment,whether or not then due.The 30-day pedod will beg�n when the notiCe(s given. : :
<br /> � Untess Lender and Borrower othe�wise e9ree in writtng,eny application of proceeds to Drmcipal sh�ents.�eunder pa agr�apht2l
<br /> due date ot the monthy Qayments relORed to in paragrephs 1 8nd Z Or Chenge the 8mount of the pay � .,t � • _
<br /> � the PropeRy is acquired by Lender, Borcowets right to any insurance policies and proceeds resufting from damage to t�e Property prior :
<br /> • to the acquisition shall pess to Lender to the extent ot the sums secured by this Securily Insuument immediate�y pnor to the
<br /> acq��sa�o�. Borrower's Loan � • •
<br />� 6. Occupancy, Preservation, Maintenanee and ProtecUon of the P�operty; , .
<br /> " • ApplicaUon; Leasehotda 8orrower shall occupy,establish,and use ihe Property as 8orrower's Principal residence within saty
<br /> • days after the execution o1 th�s Securay Instrument and shall eontinue to occupy the PropeRy as Bonowers princlpa�resldence for at
<br />' � ' � � �east one year atter the date of occupancy. unless Lender otherwlse agrees in writing, which consent shall not be unreasonabry
<br /> • � w�tnheld, or unless extenuating circumstances exist vihich ate beyond Bortov�er's contr0l. Borrowet Shall not destroy,damage or impeV
<br /> . ! the Property. allow the Property to deteriorate,ot commit weSte on the PtopeRy Borrower sAall be �n detaufl �1 any torleiture aCtlon Ot
<br /> � proceedi�g.whether cNil or criminal,is begun that in Lenders good ta8h JuQgment could result in toAeiture ot the PropeRy or otherwise
<br /> � ' � materia��y impair the Iien created by this Security InStrument or Lenders security interest. Borrower may cure such e detauN and
<br /> '' � re�nstate, as provided m paragraph 18, by causing the action or proceeG�ng to be O�smissed with a ruling thal, in Lenders good�aith
<br /> � � determmation, precludes foAeituro of the Bonowers interest � the Property or other materiat impairment of the lien cre3ted by this � �
<br /> •_ �. ` � SeCUrdy �nstrument ot Lender'S seCUrity inter6st. Borrowet Shall also be �n de18u11 �� Borrower, during the �oan epp��Cet�on process.
<br /> gave mater�ally falSe or inaccurate mtormation or statements to Lender (or }aitetl to provide Lentler wRn any materal mformat�on) m
<br /> connection with the lo�n ev�denced by the Note, inCluding, but not limited to. representations concerning Borrower'S occupanCy o1 the
<br /> • . PrOp2rty as a principal tesidence. ��this SeCUrity Instrument is On a Ieasehold, 80ttOw@r Shell COmp�y vdtA 811 the proviS�onS ot the
<br /> tease. H Bo�rower acquires fee title to the Property, the leaseho�d and the tee IAte Shell not merg9 unless the Lendor agrees t0 the
<br /> � � • Foim 3028 9:90 .
<br /> merge� �n �xriUng.
<br /> �� Page 2 0�5 .
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