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<br /> � The Funds ,hall hc hcld in un insti�ution wh��sc <<ay�c�s�ts nrc insured by u fcdcral agency. insn•ununtulity, ar entity r-
<br /> . (includin� l.cndcr. if'Iw ndcr is ,��rli nn instituti��nf��r in any Fe�lerul Homc la�an Bank. [.cndcr shull upply thc Fund,to puy du
<br /> �scro�v Itcros. I.cndcr may nut rl�c�r��c l;nrrowcr G�r h��ir1eng �uid applying Nic{'unds. annuully iinulyzin�thc cscro�v,uxount, ur �_.,.r e-
<br /> vcri(ying thc E,cruw ltrnn, unit:,�,Lrndcr p�iyy[i��rn+evcr iezt,c�cst on thc Funds and appiict�blc law prrmit,l.cndcr ta makc yuch
<br /> a chargc. Nuwcvcr. I.cizdcr ni�.)•r�'�{uirc t3�tirruwcr l���►y a i•�ne-timc�ht�r�;c for an indcprndcnt rcal r�tatc lax rcpur[ing ,crvicc
<br /> � usea hy Lender in connection with thi�; luxn, unl��::.r ap�l.icable li+v� pt��videti oUmn�•isc. Unlc�� un agrecment i, made ur
<br /> .�pplicablc law reyuire+intcrc,i to br paid. L.�n�lcr shall ut�t hc requircd tu p:�y Burrc�wcr any intcrc�t or camings un thc Funde. ,.
<br /> Qarro�vcr and 1-.cnJrr may +��ri:c in writinL. Iwv.•cvi�r, t4i,it intcrc,t sh.dl be puid un thc Funds. l.cndcr ,luall givc ta Bi�rrowcr.
<br /> 1 without chargc. an unnual a�.�umting of thc Fuml��, shn�vir,-� crcd�ts und dcbitn tu thc Funds �md thc purpmc firr whic:h c;�rh
<br /> drhit to thc f�unds�vus maJc.Tiic Fund:;:�rc plcd�c��.is a�t�ii:,io��al sccuriry for a!I+ums sccur�d hy thi+Sccuriry ht.tnm�citt.
<br /> ;h; 1!U7e Fundti heW hy l.emier excre�l lh4.ut�uieEtt.�.�;�Ix;:;lec!tn be held h)�;�(�plicahle I�nv. I.�nder yhidl accuunt tu Burrowcr
<br /> •� For thc cxccss Funds in araarduncc�vith thc reyuiaciz�er.ts us applir.�Ic law.Yf thc.imount of thc�uuds hcld Uy I.cndcr at uny
<br /> �.:��� time is not sufficicnt ca pay tlte G�rruw It�:ms whr.n d�Je. Letxler ma ,o nc�tif Iiorco�ver in+vritin �nd,in such case Burruwcr n`
<br /> ,��,�+-..•� shall pay to L,eiuier tl�e amaunt neressary to n�;ihe u�tl�.�: �':��ficiency. Bnrra�ver shall►nake up thc deficiency in no mom than .
<br /> twclvc monthly paymcnts,at Lcndcr's sul�:Jiycrcli��in_ ..
<br /> Upon payment in f�dl of all tiuros secuced by the:c S�;curity Instrument. l.enJcr �hall prampdy rcfund to Burra�ver .uzy . „
<br /> Funds held by Lendir.�Ifi 1u Ad'°�Fun�i h h d t y L.e r 1 r a r.�t 1�:�u n e n f a c q u`i su ic nror1e,:�1•a+a creduTa gaintit the un�is�securcd�by -
<br /> , ' of the Propeny, sha I pt y } .
<br /> � this Security Instn►ment. �
<br /> � 3.Application uf�'syment�. Unless appler.�bl4 I,��v Fe�rv�dcs otherwisc,all paymcnts rcccivcd by I,ender un�ier par.�graphs
<br /> ' 1 and 2 shall b�applieJ: fint, to any prepaymen.t ch.,uges�fue undcr the Notc; second. to amo�rnts payablc undcr paragr.�ph 2: '_.h,.
<br /> �" third,to interest dur,fourth,[o prirYCipal due:anc.4 last,t�3�iy lute charges due under the Note. . _.
<br /> �: 4.Clx�rges; I.[er�s. Bc�rrower shull pxy all t�.Yes, ays�ssments, charges, fines and impusitions attribu[ablc to tlie Property
<br /> � which may attain prioritp ovcr this Securiry Instn►.rrr.cn.r., r.nd Icasehold payments or ground rents, if any. Borrower shall pay ;=
<br /> • �� these obli gations in the m�nner pr��vided in para�,cvaplb 2.�r, if not paid in that mamrer.Borrower shall pay them un time directly
<br /> - � y� to the person oweci payn��:nt. Borrower shall prou;�±tfy�fumish tu L ea der a l l no tice s o f a m o u n t s t o b c p a i d under thi�para gra pli• �' E-_
<br /> ,-�. ;�. !f Snrroti�•�r makes these paymcnts diu,�cdy.Hon'awer sh.s6�prompdy furnish to [.�:nder receipts evidencing the paymencs.
<br /> • ;;, ,;�� Borrower shall promptly discharge any lien�vl;c�;la h3:�prioriry over this Security Instrument unless Borrower: (a)agrees in
<br /> �vriting to the payment at'�he obligation secured by tF.r, I��n in a manner accept�ble to I.ender; (b)contests in gaad faith the lien
<br /> ` �''�;��� by, or defends against enforc�ment of the licn in. I�ga1� procecdings which in thc Lendcr's opinion operate to prevent the -
<br /> enforcement of the lien:or(c)secures from thr. h.�tt�i�r of the lien an agr�ntent satisfaetory to Ixnder subordinating the lien to
<br /> "• this Security Instrumenc. If Lender determines �h.ar.any }�i.rt of the Property is subject to a lien which mxy attain priority over i;y,
<br /> this Security Instrument, Lender mny give�orrowe�a r.KV.ice identifying the lien. Borrower shall satisfy the lien or take one or
<br /> I` more of the actions set forth ahove within IO duys of the g;iving of notice. �:'
<br /> 5. Hazard or Pn��rra'!y Insurnrtce. Burrovrer sh:r.11 kcep thc improvements now existing or hereafter erectcd on the :_-
<br /> Property in:ured againsR loss by fire, huzarJs irtclud�d ��•ithin the term "extended coverage" and any other hazards, including �
<br /> floods or flooding, for���hieh Lendc;r requiees in:�u�ur.ce. This insuranee shall be maintained in the amounts and for the periods
<br /> �� .t,ar t r�,�1�r reauires. Tl�c insurnnce carrier provid'emg tba; insurunce shall be chosen by Borrower subject to Lender's approval
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<br /> ,•��'ti�� ; which shall not be unreasonably withlt4ld. If Durrovter iails to maintuin wvcr4gc �..�..n�.... w.�:•�. --�•"•---='n-.,. _ _
<br /> �� `�s�•�� •; '' option,obtain coverage tu protect l..ender's ri�hrs im th�.F'roperty in accordance with paragraph 7.
<br /> - ."•���:" pll insurance policaes and renewals shall b,: acce�able to L.ender and shall include a standard mortoage elause. Lender
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<br /> °• � ' shall have thc right to hokl the policiec and rencr,cd�. If 3.endcr requires, Borrower shall promptly give to Lender all rereipts of
<br />.,`..I••� , paid premiums and reneLV;�notices.In the eves�.t r�}L�ss.Borrower shaii give�rompt notice to the insur�nce wrrie�a���1-cn�e.•
<br /> Lender may mal;c proof of Inss if not mnde pror.�L r.ry b� 9orrower. __
<br /> ���" �•� Unless Lender and Horrower othcnvisc agra:i��v�r►ting, insurance proceeds shall be applied to restoration or repair of the
<br /> �,"�''�'F=±°'` Property damaged.if the�restorntion or repair is ecortonnitally�Fe�sible and Lender's security is not lessened. If the restoradon or
<br /> --- �-' �A � repair is not economicalfy feasible or Lender's securiey would be les;ened,the insurar!ce proceeds shall be applied to ihe sums
<br /> `.�'tr•�tx: =^ secured by this Securit�� Inst�ument, wliether or nnt tt,.n due, with any excess paid to Borrower. If Borrower abandons the
<br />�"="� -"�';' �• Property, or does not��swer within 30 dnyti a n,�ticc from Lcndcr that thc insur.u►ce carrier has offer�d ta settle a claim, then
<br /> :ns?:�•''.��'". L.ender may collect the insunmce proceeds. L.ender r•nsy use the proceeds to repair or restore the Property or to pay sums
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<br /> _..;�� secured by this Security Instrument,whether or not tH�:s�due.The 30-day period will begin when the notice�s g►rer�.
<br /> —'���`s--•��n�• Unless Lender a�v.1 Bc�rroa•er othcrwise agree i,n writing, any applicltion of proceeds to principal shall not extend or
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<br /> �_T�;_�,�_*^� postpone the dae date of thc munEh;y puy�ncnr:c ref�rred to in paragraphs 1 and 2 or change the amount of the payments. If �
<br /> �;�;�;;�,. under paragraph 2l the T'mpeny is ucquired by l.end�:i, Borrower's nght to any insurance policies and proceeds resulti»g from
<br /> -�zS�:�;��%•.� dainage to the Property prior to the acquitiiti��n.sl�all��ass to Lender to the extent of the sums secured by this Security Instrument
<br /> - ;�d'�;��. immcdiately prior to the ru:quisition. _
<br /> - =="r' 6.Occupancy,Preservation, Maint�nuer.ce alud 1'rotectian of the Prop+erty; Borrower's Loart App9lcation;�.easehotds.
<br /> ''�`"�''�• Bonov�er shall occu GS[�IISII, and use the Froperty as Borrowzr'�principal residence within sixty days after the execution of
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<br /> - * this Security Instrumen�and shall continue to oc,:upy the Praperty as Borrower's principal residence for at Icast one year a er
<br /> ������_�� thc date of occupancy. unless Lender c�therwise ag�ces in writing, which consent shaU not be unreasonably withheld, or unless �
<br /> �,::�;�=-=�„ exteuuating circumstm:�:es exist wliirh are beyund Borro�ver's control. Borrower shall not d�troy. dama�e or impair the
<br /> ''-=�s:{"� Property, allow the Propeny to deteriorate. or cummit waste on the Property. Borrower shall be in�lefault if any forfeitare
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<br /> , �".,,.F„ action or proceeding. �+�hether civil or criminnl. is begun that in Lender's good faith judgrr�ent could result in forfeiture of the —
<br /> -,.,_,i�.;,:; , . Property or otherwise+naterially impair thc lien crcatcd by this Security Instniment or[.enc�er's security interest. Borrower may
<br /> ��'4{+�a��' ' cure such a default nnd reinstata as provided in�raragraph 18, by cals�ng the action or pra�ceexling to be dismissed with a rulin�
<br /> � � thut, in l.cnder's good faith determination, prerludes forfeimrc of the Borrower's interest in the Property or other material _
<br /> � • impairment of the liei: created by this Securiry Instrument or Lender's secunty interest. Borrower shaJ1 also be in default if —
<br /> �� � $orrower,during the loan application process.�ave materially false or inaccurate information or scatements to L.ender(or failed `y
<br />— to pro�•ide Lender with an�• materi:�l infurnuuiinn)in conncction with the loan evidenced by the Note, including,but not limited �.
<br /> ;�,�;., ,:� to. ►�presentations concerning Bc�rruwer's eccup�ncy of the Property ss a principal residence.If this Securiry Instrument is on a
<br /> • � Icasehold. Borrower sh,311 cvmply �vith al[ the provisions n'F the lcase. If Horrower acquires fee title to the Propertry, the
<br /> -9:, Icasehold and the fec titl�,l�vll not mcrgc unl��s Lender agrec.to the mcrgcr in writing.
<br /> :"�' 7.Protection of l.ender's Rigt►t;;in��r.e�'r��ert��. If�urrower fails to perform the covenants and aQretments containcd in
<br /> i � this Securiry Instrumcr.s. or there is a Iegul Fnxci:ding that ntay significantly affect i..ender'y rights in t4�e Property (such as a
<br /> `' proeeeding in bankruptcy. probate, for ce�ndemnation or fo�:°itare or to enforce laws or regulations), then I.ender may cto and ;
<br /> ',•;`r�`'�+ �` pay for whatever is necessary to prutect the valuc of thc 1'ruNCrty and l.ender's rights in the Property. [.ender's actions may
<br /> ' include paying any su:ns sccured hy a licn whirh has priority over this Security Instrument, appearing in court, paying
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<br /> � - ---- ��. _..___.._• r... ...,.i,,.,�..���„�„n�►,r Pranertv to m:ilce repairs. Although I,ender may take action undcr this paragraph
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<br /> ,� 7, L.cndcr docs not havr.to du s��.
<br /> ' Any amountr ditiFrar�c�1 hy IAr�dcr undcr this para�r.�ph 7 �hall becume additional debt of Borrow�er secumd by this
<br /> Securiry Imtrument. Unlctiti 13��rru�vcr anJ LcnJcr aZ rer ro othcr tcnm of payment, these amounts shall bcar interest from thi
<br /> date of disbuncmcnt at thc Notr ratc and shall bc p�yablr. with intcrest, upon notice from L.cnder to Borcuwer rcyuecting
<br /> puyment.
<br /> � 8. biort�a�c Ir�sun�¢rrc. If I.cndcr rcyuired nwrigagc insur�►nrc as a candition of making thc loan securcd by this Sccurity
<br /> � Instrument. Borro�vcr ,hall p:�y thc prcmium� rcyuired a� maint��in the mortgagc in�urance in effect. if, for any rcs�on, thc ,
<br /> „ mongugc insurancc rav�r<i�m rcyuircd hy I.cndcr lapsrs i�r rca+cti ai bc in cEfc�:t. Bottuwcr shall pay thc pmmiums required tu �
<br /> i�btnin covcra�*e substantiatl�•cyuiealent tu thc mort�age in+urancc pmviuusly in effert, at a cost aubstantially equivalent ta the
<br /> cust to Bnrruwcr oF thc �rn>rtgatze in�nrancc previuu�ly in cffrrt. from an altcrnatc murtgagc insurcr appmvcd by I.rndcr. If
<br /> - � Pouo z o�a Form 3028 9190
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