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<br /> � � :-.,j Bonoxrer's escrow aeCOUnt under t�e ted�eral Real Esmte SetUerteent Pracedures Act of t974 as amended from Ume to time. 72 11.S.C.
<br /> " c ' F ' 2601 et seQ.('RESPA',untess another t�w tha4 applies to the Funds sets a lasser amount I(So. lender may,at any tlme.colffict and � . �
<br /> �i hold Furtds in en amount not to exCaed the lesser amount LenHer rt►SY esNmat9 t1t8 emount at fimds due on the basis of q�ttent date ' ��� •
<br /> .` 1 � " a�d reasonab's esHmates of e�end�ures o!fuUire Escrow tLems or othenvtse in accordance w+'th appBCabl�law. `. ,
<br /> TAe FunQs shall be �eld in en tnst�t►on whos� depos9s e►e tnsus�ed by a tedetal agency. instrumenffiGlyr. or enU1y (6►cNding , : .•
<br /> . . ' ` Lender. N l.ender is such an institutlon)ar in any Federal Homo Loan Banlc lsrt�sr sAall eAPN the Funds to Day the Escmw ttems. � ,y.. ':., �;.�;
<br /> � . • = Lendet may not eharge Bortower tpr�oldfig end BpOhtin9�e�� ��Y�al�tp th9 escraw accoun�or ver�yrfig the Eserow ' °
<br /> � ` �? Items,untess Lender pays Bairower ineerest on the Funds end eppGeable�w perm8s Lender to matce sueh a charge. Nowever.Lender � . ., ` '"
<br /> � . ; may require Borrawet to pay a dn�tims charge far an independeni real estat9 ta�c repoNng Servtce used by Lender in eonnection w9h � , < ,;
<br /> � �t is mada or appIICabte law requires fntierest to be paid.l�ndsr a, • .
<br /> � � , �� tnis tcan.uniess appt�cabSs law provtdes othenvise. Unless en agwement �y .
<br /> , ShaA not be requTr�ed to pay Borrower eny tnterest or eamhegs on the Funds. Borrowor and Lender may egree in wr�6i8�however,tha! � ,� �
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<br /> .-.-*_`?� interest sAati he paid on the Funds. Lender shan gNe to Bonower. w�out charge, an anaual accourrtfrtg of the Funds. showing _�� `�.
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<br /> , `� eredds end AeDfta to Use Funds and tRa Au�P�e tor whkh each debit M 4d9 Pon�s was made. The Funds ere P(ed�Bed es ad�ional .': �..___ . :._.
<br /> . ' . `•1 secur3y for eD sums secured by tht5 Se�ur3ll InstrumenL :�. r, ,,.' � .,
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<br /> , If the Funds hetd by tender exeeed thA amounts perm�te0 to be Aeld by applicabis law.Lender ShaD aeeaunt to Borrower tor fhe ,S � !;
<br /> � ' ` eYCess Funds in aeeordanee wnh the �equuements oi eppt'�ebie taw. It tt�e amaemt of tha Wnds held by LenQer at 8r►y ttme Cg not �
<br /> s : suffieient to pay the Es�ow liems when dua.Lender mey so not�y Bortowar tn wr@i�tg.en0.in SitCh CaSe Bntrow8t shell p8y to LenQBt f. • . �, , -
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<br />._�� `, . . . ; the amount necessary w make up the deflcisncy.Borrower shaD maEce up tAe Qeficlency in no mare tAan tweMe monthty pay+nenfs,a! ' . . �r.•,
<br /> Lendefs sote discretion. � :. e a , c:
<br /> U Don p a y me�t m fu0 of all sums secured by this Secur�t InsbumenL Lendet sltaD promptly cetund to Borrower eny Funds heid by :-T,
<br />- � � � Lender. It, under para�aph 21, Lender shall acquire a seU the Property. Lender.pdor to the acquisiUon or sale o f t he P rop e R y,s h a U . � �l-Y,.;�_
<br /> � • appiy any Funds hetd by Lender et the time of eC4�+�s�on or sets as a cradd against the sums secured by thts Secw$y InsbUment ' „�_.-
<br /> , � � 3.Appifca8on of Pay�nents. Unless apP���w provides otherwtse.all payments received by Lendec unQer paragraphs . _
<br /> .`•, • � t and 2 shaB be apD�'�d���.�&►Y OreOayment charges due�tnder the Note;sflcond to amounts payabta urtdet patagr8ph�IhEd `���•-
<br /> :<: . ` to fiterest due:fouRh.w principa!due:end�asf.to any lafe Charges due undet the Note. .`���
<br /> '` ' �.. 4. Charges; 1.�808. Bortower Shall pay ell te�ces, 855e55rttent5. Chstges.fines Bnd Tmpos�tons<r�butebte to thB Propetty '�`__
<br /> - whkh may attatn pdorityr aver this Secur�ty Insbvmertt, and leasehotd paymants or�ound rents, tf any. Bortower shall pay these ` '-
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<br /> - . .�;� obligatfons In the manner provided tn paragraph 2.a f1 not peid m that manner.8oaower sheQ PgY��on tkne dhectty to the person �-. � -Az,
<br /> ' . _ owed paymenL Bortower shau prampt{y fumish to Lender ad notkes of amcunts to 6e patd under this paregreph• If Bortouver malces <4.•�L �
<br /> tAese payments dUectry.Barcower shall promptry tumish w Lender�ecetyts evTQenctng the payments. 4,-'�' ,.�, ,--
<br /> � -� Bortower shad promptty d'�scharge any lien whbA has prtorfty over this Secur�Ty Instrument unfess Bortower.(a)agrees 6r+wrftiep to • , t�.`:f;«_;•'y.
<br /> • -�` the paqmant of the obiigaUon secured by the lien i n a manner acceF��t o L e n d B r.(b)c o n t e s t s i n B a a d(e f t h t h e R e n 6 y,o r d e f e n d s . ��' }a`��:$-
<br /> �: � � agalnst enforcement ot the Iten tn,tegal proceedings whtah tn the �end�ers optnton operata to prevent tfie entorcement of tha Qen: a(c) ��
<br /> `;,,. � � secures Irom tAe hotQer of the tien an a�eement sattstactory to Lender subordinatfig the Aen to this Securiry InsWment If lender � , ,-=;_-=�._.
<br /> � determtnes lhet any part of tne ProD�Y� subjeet to a 1[en whiCh may attain priorfty over thts SeCUrEty Instrument, lender may give "�� �
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<br />'`��' ' � Borrower a notus identifying the fien. Borrower shait sadsty Ne IIen or take one or more ot the actions set torth above wRhin 10 days , �;�-�_•
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<br /> of the giving of notke. � ' � _
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<br /> . 5. Mazard or Property Insurance. Borrower shall keep the tmprovements now existing or hereatter ereated on the ':�a:;_
<br /> � � Property�nsured agafist loss by tEre. haracds inctuded w,�htn the tean'eoctended coverage°and any other ha�rds.IncA�dirtg ftoods or � �••-��`�-
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<br /> � " flood'mQ, for which tender requires tnsuronce. TAis fnsurance shall be maintafned fi tfre amounts end for the pertods that LenQer �
<br /> �"� � - requ3res. The insurance cartfer prouTdfig the insurance shad be chosen by BaRCwer wbjeci to Lenders approval wl�ich shaQ not be • --
<br /> . unreasonaby w�hhetd. It Borrower fat►s to matntain coverage descnbed ebove.LenQer may,at lenders option.obtain coverage to ' ' =:�:;_.
<br /> ' _�. , protec!Lender's rtghts in the Property in accordance wfth paragraph 7. � . �`
<br /> Ail insutance pof�cies and renewats sha�l be acceptable to LenOer and shall include a stan0ard moRgage clause. Lender shail hsve , :�•�:4,
<br /> �- the rght to hotd the polictes and renewais. lt Lender requires. Borrower shatl prompty glve!o I.ender aU cecetpts of pald premiums , : �.;,,�'_`-
<br /> • and renewal notices. In the event of loss, Bortower shaU gNe prnmpt notice to the insurance carrler an0 Lender.Lender mSy mgke • _-
<br /> � . praof of loss i�not made promptry Dy Bortowe�. �� �� - .
<br /> • � Uniess tsnder and Bortower otherwise agree in writ�ng,insurance proceeds sha0 be appiied to restoratlon or repalr of the Propertyr _ __
<br /> • damaged, it the restoration or repab is economfcaly feasble and Lenders securftyr is not t�ssaneQ it the wsWrallon or repair b not �;
<br /> •� , . � economicatty feasb(s ar Lender's securityr woulA be IesseneC. the insurance praceeds sfia0 6e appAed to the sums secured by this __
<br /> ,, " . . Securdy tnsuument, v�hether or not then dus, w8h any excess peid to Horrower. If 8onower ebandons the Property, or d0es not
<br /> - . � answer within 30 days a notice hom Lender that the Insuranee carAer has offered to settle a Claim, then Lendet may c01i2ct the �
<br /> insurance proceeds. Lender may use the proCeeds to repatr or restore the Property or to p8y sums SecureC by this Securityr .. .
<br /> � Instrument,whethet or no!then due.The 30-day peAod will begtn vfien che notice Is given. . .
<br />- • • � Uniess Lender and 8artower othenxlse agrea In wrRing,anY ePA��tion of proceeds to principal shall not extend or postpona tt�e
<br /> due date of the monthty paymenta reterted to in paragrapha 1 and 2 or change the amount of tfie paymants. tf under paragraph 21 � . :
<br /> � the ProAerty is acquUed by Lender,Borrower's right to eny insurance poiicles and proceeds resuking hom damage to the PropeRy prior . , _
<br /> to the acqulsftion shatl psss to Lendet to the extent of the sums secured by th(s Securty InsWment Mmediatety prior to the
<br /> acqulsftlon. � •
<br /> °,s . . � � 6. Oecupancy. Preserva3ion, Maintenance and Protection of the Property; Borrower's toan �
<br /> _ � . • Applicatiom Leasehotda Bortower shell oCCUpy, establiSA,and use the Property as 8ortowers prinCip81 resldenCe wfthin Sixty
<br /> days 8ftet the exeCUtion of this SeCUrity Instrument and shetl continue ta oCCUpy the Property 8s Borrowers principal residenCe for at
<br /> . teast one year after the date of oeeupanCy, untess Lender otherwise agree9 in writm9, wh�h consent shall not be unreasonabty , �
<br /> w;thheid, or unless extenuatmg cueumstances exist wh�h are beyond Borror�ers conUol. Bortower sAall not desboy,damage or ImpaU
<br /> � . ��.. the Property.allow the Property to detariorate,or commit waslB on the Property. Bortower sha0 Oe In defaun if any foAeiture 8ction or
<br /> ' . , proceedi�g,whether civil or crimtnal. ls begun that in Lender's good faith Judgment could resurt(n torteiture of ttis F�roperty or otherv�ise •
<br /> materlaly impBU the tien Creeted by this SeCUtity Instrument or LendeP9 Seturity interest. Bortower mAy cure BuCh & defauA And
<br /> .:�`�• ' � retnstete. as provided in paragtapA 18,by causing the action or proCeedNg to be dismissed with e n�Mg that, in Lendefs gootl(eRh
<br /> determination, prectudes forfeiture of the Bortowers interest In the PropeAy or other materlal lmpatrment of the Iten created by this . .
<br /> ' .. SeCUrity Insttument or Lender'S SeCUrity interest. Bonower shall a�so be in dBfauN H Bonower. Quring the loan flpplketioa process. - �
<br /> �I gave mater'alty fatse or inaCCUrate intormation or statements to Lender (or }aitod to provide Lender with any material intormatlon) in �
<br /> ` ; conneeNon with the toan aviQenced by!he Note.inciuding,but not limfted to,repressntatlons conceming Borcowers occupancy ol the �
<br /> ',. • i Property as a principal resltlence. 1! this Securlty InSUument ls on a Ieasehoid. Bortower shati compty wlih a11 the pravislons of tho �
<br /> tease. It 8orrower acquUes fee I�le to the Property,the leaseho�d and t�9 tee titte shali not merge uniess the Lender agrees lo the �
<br /> � } merger in wrding. porm aoxe e�ao :
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