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<br /> " Borrowefs escrow aecount under the fedaraS Real Estate Settlement ProcedUres �°! �974 as smended irom tene to time, 12 U.S.C. , __
<br /> 2 5 0 1 e t s e q.('RESPA 7,untess err�ther law Mat appGes to the Funds sets a lesset amount It so,l.ender may,at any Yvne.coOeCt and �
<br /> . � �� :
<br /> hold Funds �►en emount not fo exeeed the�esser emounL Lender maY estimate tf+e amaunt of tund(rd�u�o�n�e b a s i s o t e u c re n t d a ffi .,-` ��
<br /> ' end reasortabie estenates ot a�enEiW�as of iuture Escxow ftams ar otha�°,r aecordance with app ,�p l • ,. _---
<br /> ' . ? The Funds sha0 ba heid � an insti�tion whoss dsposits are insured Dy a federal agency, �nstrume►►�Y. or entiry (inch�d'ng � � _--
<br /> ' Lender, B Lendsr is such en �sNtuUon) or n eny Fedsrai Home Loan 9ank• LenQer shall appty the Funds to pay the Escrow Items. i ,
<br /> t.endar may not charpe Bartower ior naio`mg a��G 'a,F:yo�'e�c.;.�. o�1aIN anatyZtnO th0 BSCtOw aceoun� or vsrifying ttis Escrow , ._-°=—
<br /> ftems,uniess Lender pays Bortower i�terest on ths Funds and appGceble lew pertn�s Le^der t°malce such a charga However.t.ena�r� ` , .
<br /> � may reQu�e BocroviEx to pay a ona{�e charga for an �d8pen dfmt r e s l e s ffi t e ffi x r e p o r 8 ng�s e r v�e a8se�d�bY�teras2 o be npa3�d,�LenQ � E —
<br /> this ioan.uniess eAPlicable faw provides othsrwtse. !lnless an a4rezmsnt is made or app� � �g however.th i ` '�
<br /> sha0 not he requfre�to pay Basrow�any interest or eamhps on the Funds.Borrower and Lender may agree k
<br /> � � interest shall be pald on the Funds. Lender shall give to Borrower, viithout charge, en annual accounting of the Funds, showin ,
<br /> credits end debiis to the Funds and the purpose tor which each debR to the Wnds was made• The Funds are pledged as additlon� i � `;
<br /> security for all sums securad by this SecuritY �nstrument ����w� ��er shau account to Borrower for the , . �
<br /> � � It Ne Funds held by Lender exceed the amounts permitted to be hetd tsy eAp � ,
<br /> excess Funds in accordance�vrth the requ'vements of apAlicabl9 law• �f the emount of the Funds held by Lender at any tins ts not �L=
<br /> � suff+cient to pay the Escrow Items when due,Lender may so notify Borrower in�g.end,�n such Case Borrower shafl pay to Lender . = �,�
<br /> _j Mo amount necessarY to make up the dsficiency. Borrowes shall make up the daficisncy n no more then tweNe moritfiy paymsnts.At `. <` ° —
<br /> �� Lenders sole discreUon. ` -�-- . - :: •.
<br /> f Tn tu0 ot all svms secured by thts Security Insuument Lendet shall prompttyr refund to Bormwet any Funds hefd by i � �, �.
<br /> � Upon payme�tt rbr to the acquisition or sale of the Property.shall � _
<br /> L,gn�er. If, undar paragraAh 21. Lender shaD acquire or se0 the Property.Le�der.P
<br /> � appp�eny Funds hsld by Lendar at Me th�e of acquisiUon ot saia as a cred'R against the sums secured by this SecuritY�nstNme^L 4
<br /> 3.AppticatIon of Payments. Uniess applkable►aw provides otherwise�aU PaYments receNad by Ler►der unCer paragraphs � ,
<br /> t end 2 shall ne applled: frst.to any prepayment charges due undar the Note; setond,to emounts payable under paragraph Z thYd -
<br /> fourih to rinc due:and last,to any late charges due under the Note. � . �.•�-•_
<br /> to intetest due: P �
<br /> � 4. Charges; Uens. B000wer sha0 pay aD texes. assessments, charges, t�nes er►d t m P o s i t i o n s a m�b u t a b i e t o M e P ro p e rt y � � :;
<br /> a,hfch ,nay arisin pdority over this Securiry InsUument, and leasehotd payments or ground rents, d any. BoROwer shaU pay these .'.� ..
<br /> � � _
<br /> , j obligaUons in the manne►prov�ded tn paraSraDh 2.o��7 not paid �n that manner. 8or►owar shall pay them on tfine„�Bo ower makes � • `�
<br /> " owed payment Borrower shaU promptry 1umish to Lender al►not(ces of amounts to be paid under this para9rap c:•� �
<br /> � these payments dir�ectly.Borrowar shal!promptty tumish to Lender recepts evtdencimg the payments• i _ , _._. . u�t
<br /> c
<br /> Borrower sha0 promptty discharpe anY Cssn which has P��Y over this Security Instrument uniess Borrower:(a)s9re0s in wrt�i�0 to ;_._�;�.;�:
<br /> n ,
<br /> tho payme�t af the obtlpaUon secured by the Qen Tn e manner accep t a b l e i o L e n d e r, (b)contests In 9oad fa3ih the lien by,or detends � , _ � �
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<br /> ggab5t entotceme�t of the Oen In.�9Da�P���hgs wh�h fn the Lenders opfnfon operat0 to prever►t Me enforcement of the Qen;or(C) ,' .,. :
<br /> secures from the hoider ot the lier►an apreernent satisfactory to Lender subordhaUnp the tlea to thts Security Ins�rumen� �f�er►de► . ' �. :�.;,_ __
<br /> detsrmines that any Part o!the ProD�Y is subjact to a Ifen which maY attain PrlorilY over this SecurnY Instrurtv3nt, Lender may 9� ` •;i �� �; �
<br /> Borrower a notice identlfying the Iten. Bottower shsli sattsfy the 11en or take one ar more of the acttons sei fOrth ebove withfn 10 days . ��., ,
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<br /> of the gfvin8 of notice. •.,;�� ':;$�� .
<br /> . •' � � 3� .
<br /> 5. Hazard or P�operty insurance. Bortower shail keep the improvements now existin9 or heteafter orected an the ` .�
<br /> Property bsuted egainst bss by fre, hazards �cluded within the tem�"wctended Coverage'and any other herards, nCbding fluods Or ., —
<br /> .� h Lender re ires insutanCe. This hsuraece Shsll be meiit8ined in the 8m0unts antl tOr the pedods thet Lender " ���i.� � �,-
<br /> floodfny, tor whtc �ri+
<br /> requires. The insurance carrler prov�dh9 the insurance shait be chosen by 8orrower subject to Lendars apAmvai which shall not be __ __ +V,, 'J�
<br /> unreasonably wRhheld. If Borrower fails to maintah covetage descrbed above,Lendar may,at Lenders opttan,obtafn caveraye to
<br /> ' , protect Lenders riphts in the PropeRY in accordance wftt►Para�aDh 7. � r.°.�:�
<br /> All Insutence policies and renewals sheU be ecCepisbfe to L�rtder end ShBB fnclude e StBndard moRpsge ciause. Lender sha0 have ��' _!.�''
<br /> 3�_�,:
<br /> the ripht to hob the pollcies and renewals. It Lender requires. Borrower shall prompt y ylve to Lender all recetpta of pafd pramlums �
<br /> and renewal notiCes. tn th6 e+r<x�t o!loss, Borrower shal pi+re prompt notk:e to the insurance car►fer end Lender. Lender maY�e -. ";'�,��,-
<br /> ���._
<br /> • proof of bss N not mada promplly by Borrower. �"'';�'
<br /> Untass Lender and Bortower otherv+rise a�ee tn wrRtnO.hsurance procseds shalf be app0a-d to restoratbn or rep8lr o}the Ptoperty �_
<br /> � damaped, N the rastoration or repair Is economicafy teas�bia and Lendefs securityr is not lessened. It the restoration or repair is not �e,l"°_
<br /> �' economicalry teasble or Lenders se��rltyr wauld be lessened, the nsurance proceeds shall be applied to the sums secured by this .;: �::,. �
<br /> 3ecurity Instrument, whether or not then due, with any excess pald to Borrowor. If Bonower abandons the PropeRy, or does not , . '�,.�... • ' ,--
<br /> ��� enswer v�Sthin 30 days a notiee hom Lender that t�e nsurance car►ier has ottered to settte a ctaim, then Lender may collact the � . � _�s.a t 6
<br /> o�suranca praceeds. LenAer may use the proceeds to repair or raslore the Property or to pay sums secured by this SecurAy .
<br /> Instrument,whather or not then due. The 34dey peflad wfll begh when the not{ce is given. , �•v,,,,.
<br /> � Unfess L.endsr and Borrower otherwise a�ree in wrRinO�anY BPA�tbn of prxeeds to princtpai shaD npt exttlnd or postpone the .
<br /> due date of the monthly payments refe�red to in panOraPhs 1 and 2 or chanpe the amount of tho payments. It under Pera9►aDh 21 • � •� ...
<br /> • � � ths Propwty is itcWired bY Lender�Borrowers ripht to any hsurance polici�s end proceeds resuRinp from damape to t�e Proparty prbr � _
<br /> � � to the ac qui�itbn shail pass to Lender to the e�ont of the sums secured by this Securky Instrument immedintey prior to the _ . __-__
<br /> j flCqulsRbn. Borrower's �oan � • ��
<br /> 8. Occupancy, Piresenratio�, Maintenance and Protectlon of the Property;
<br /> � Applicatbn; LEasChOld8. BoROw6r shell oCCUpy, e s t e b l is h,an d use t h e P r o p e r t y 8 s B o rt o w e r s p r l n c i p e l r e s l d e n C e wkhin s b c t y r _
<br /> � days atter th,�execution ot this Secur�tyr InsUument and shall contlnue to oCCUpy the PropeRy as Borcowers principal residenee for at
<br /> least one year after the date of occupancy, untesc Lender oiherwise agrees In writin9� which consent shall not be unreasonabry
<br /> withhsid,or unless extenuating cicumstances exLst whiCh t►re beyond Bortowers control. Bortower shail not destroy,damage or knpatr —
<br /> . the Property, auow the Property to deterlorete,or commR waste on the Proparty. BoROwer shall be h detauft H enY forfetture ectlon or ��
<br /> � . proeeeding,whother civtl or crimhal. Is begun that in Lenders 9ood fakh judgment coub resuft In torfefture oi the PropeRy or otherwise `
<br /> materialry fmpair the Ilen created by this Security Insuument or Lendefs Security lntoresG Bortower may cure suCh e detauR and
<br /> rehstate, es provided in para9reAh t8,by cuuslnp tho action or proceeding to bo dismissed wRh a ruling tha�in I.endef9 pood faRh .
<br /> d¢terminatbn, precUdes tortetture of the Borrowe�s interest in the Property ar other rnateria� imDairment of the Ilen created by this � .
<br /> Securiry Instrument or Lende�s security Interest Borrower shall also be in dei4uR N Bortower, durMifl the loan application process,
<br /> � gave materialty talse or inaccurato intortnatlon or statements to Lender (or fa�ied to provide Len6er wfth any matortal htortnetbn) In _
<br /> � � � conngctton wft�the toan evidenced by the Noto, tncfuding,but not limrted to. represontations coneeminp Bortowers occupancy of tho _
<br /> •� Property es a principal residence. If thls Securiry InsWment is on e laasehold, Borrower shall compty with ell the provisions o1 the , —
<br /> lease. I4 Borrower acquiros fee titb to the Property, th� �eesehold and the�ee title shall not merge unless the Lender ergfee o2eovi oe
<br /> merger tn writing• I
<br /> 1 P1029.LM0(2/HB) Piy�2 ot 5 � - . �.
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