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<br /> � � ._._...__ -`.—`GZrzit�L�u:ti:�.`_..�.__._'_. .._.. ._, _.�...'—c.`.�.J.,____._.._-3c�•�v.=.,.�.�_� _-- ���_, _'
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<br /> .� • � 1 'fhe Fund� shaEB [+� hcld �n an irotitutiun whu,e Jepu.it+ are irL.un�i h� a fed�ra! agcn�-�. in,tn►men ur. ur entitn ° - --�-• .
<br /> .� (inrludtn g Lender. if Lr:nfer i..u�h an ir�titutiun►or�n am Fc�icra!Nume[.��rt Bant�. Lrnl.r.itsll ag�pt� the Fund�a,�+a} the ~
<br /> , E+cns►� lte�n.. l.r►utrr ma� nut chars:r&�rco«es li+r hutdmg ami.y�p l cing t hr Fun d..:ui»u:t i l� :uzs!�tit�i;t lit e,�ru«acc u u n t,o r
<br /> .� , ,..� �rnftiin�ihc F.cma Ituin.ui�fc�+•Lendrr p,�y.E�xmacr irner��t on thr Fund,:ui�t:y>�licablr law��a��t.lx�ufrr ta m:�e su:h . . "
<br /> . , a ch.s�xe. Na��c��r. l.e�xirr ma} reywri B�,no�rrr ta pa�a une-timc ihar�c fur:�n inJtpendrnt r�sl r.tatt tat rc�wrt►ng>ent.r
<br /> . � ux�i br l.endrr �n cunnrctwn �cith thi� loar►. unl�wti appti.ahlr la�� pru►ide. „thercri.r. Untr.. 3n agreerttem ic nnd: ar .
<br /> _ . � �ppliwhl�1��� n�yu�ny mt�re,!ta tk�►id. l.�tiulrr,hsll nut be reyuircd tu�y Burn�aer an} intrrc�t ar earnmg�un thr FunJ._ �.•`,� • <
<br /> � ' 8i�rru��er:uid t.endcr ma} �gr��m ariung,hu�ce�•er. that int�n�t +hall br paid rn thc FunJ.. L.ender+hatl givc tu Burro�cer• , , .
<br /> auhaut cls�rgr. :u�snnu:�! �aYtunting uf the Fund.. �hu�sin�, creJit.and debi[. tu the FunJ+�nd the purpo.e ti�r ahinc�ach .� •
<br /> . �� dr6it tu thr Fu�ul:�►a.made.The Fwid+:ue plc�i��tii a.+addeti��nal«tivntc ti�r all.um..ctiutttl hy thi.Sctiuri�y In.iru�nent. • .
<br /> if thc Fund+hrld b� Lender rrcecYi the am��unt.pc�rmitt�-d tu hr helJ h)sPPli�abl�l3«. [.c�nder.hall s.ruunt to Burru��er . .
<br /> • ' fur tha ex.s�++ Funds in arroni:u�ce aith the rc•yuirement+��f applir:�hlr 13��. If the amnant��C th� Fund>hrld by l.endcr st:sn} �
<br /> �,i tinae i+not wYticient tu pa� th.EXfUlS Itrm.�chen due.Lxndrr ma� .0 nutif�• Burru«cr in ariting.and.m wrh�a,r&�no�ticr
<br /> � ..�. �'_'" • ---
<br /> . - : .h:ili pa} tu l�tder the:�muunt n�tic�+ary to makr up ti�e deticien�w. B�,rru«�r.le,li nLihe up ahe dcti�icn��r in no�n�re than - -.-_- . - _
<br /> .� twrhe monthi��payments.at l.ender'�x�la Ji�cretion. . • • . .
<br /> ` U}x�n p:�ymrnt in full uf all sun�.. �c�rured h?� thi�Sctiurin Irutrumcnt. Landrr .h:ill prumpdy r�lund t.� B��rra��-cr:utiy
<br /> Fund�h:w n.� t.��az�. �f, unJer para=raph?1. Le:M1:r::half acquire ur,rll the Proper[). L�ader. paar Io th�s:quisiuun o��le .. . . .
<br /> � af the Pn�perty,sha!!u�ply xny Fund,hetd b} Len.t�r at tht time uf acyuisitiun ur aale a.��rt�itt a�ain.t the su�it���ttntl b�• ' ._. _ ,
<br /> . this St�udt� Instrument. �- .
<br /> � � a.�pplicatiun of Pa�ments.Unl�s appli:abl�t�►.pru�ide.othenri+r,ali payrtcentc rerei�ed b�� Lender under paragraph. ` : .
<br /> I and 3 shail br applied: fir�-t. ai any Przpa>m�:�et charg��s duc undrr the Plote: .econd.ta amaunt�payable under paragraph 2: . � " ..,,-`
<br /> thint,t��interzst due-founh.to ptincipal�ue:and last,to an} tate charges due under the Note. , _- •
<br /> ` � �4.CLarges;Wens. Borronrr shali pay all taRes.assessment+,charges.fines and impa�itiuns a.�tributable to the Property . � .
<br />= � ��hich may attain priority o�•er this Secunt}� Insuument,and leasehnid payments or emund renu,if any. Bosroa�er shap pay ,
<br /> the�e ubligations in the manner provided in paragraph 2,or if not paid in that manner.Borrower shall pay them on time directly ' ,, ,,
<br /> .. to the person owed payment.Borrower shall promptly fumish to L.ender all notices af amounts to be paid under this paragraph. . .:
<br /> � • • If Borrawes makes these payments directly.Barrower,hall promptly fumish ta Lender receipts evidencing the payments. , .
<br /> � � Borrower shall promptly discharge any(ien which has prioriry aver thi+Security livaument unless Borrawer:(a)agre�s in • , �' ' :
<br /> � w•riting to the payment of the obligation serured by the tien�n a m:inner acceptable to I.ender:lb)contests in gc�od faith the lien °,
<br /> by.or defen�is against enforcement of the lien in. le��a l proc ce dings ar•hic h in t he L en der's o pini��n o perate to prevent the � �� .` , �;.�
<br /> � ' ertfvrcement of the lien:ar(cl secures from the holder or the lien an agreement tiatisfactory to Lender subordinatiag the lien to ',_' '�"'- � %
<br /> ' . f ;' tbisSzcarity l�strument. If Lender determines[hat any part of the Prupetty is subject to a lien which may attain pnoriry aver .. � � � �
<br /> .�',:
<br /> � • , > r11is Se�zurity lnstrument. I.ender may give Borrower a notice identifyin�the lien. Borrower�hall satisfy the Ge�ar take one or •�,�� "�,.;;�!�
<br /> �•�'�9 mcn,:of the a�ums set forth above wi[hin 10 days of the giving af notice. . �T •: •
<br /> �_.
<br /> . � y. faa�rr�mr Property Insurance. Borrower shall kee thc im rovements now existin or hereafter crected an the , . `r r,;=;q'
<br /> � � ' Pn�.cry in�ured against loss by fire. hazards included within the term extended coverage" and any other hazards, includin . T'":'4 rt
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<br />., . � � : .� .� ffrnut�ur flooding. for whii3i f.�en der requirc�+iresurance.T his insurance s ha l t be maintained in the amounts and for the periods � ;: : '..��;
<br /> � t�n���.:�nder reqe�res. The irr_au-.uce carrier pro�•iding the insurance shall be cho,en by Borrower+ubject ta Lender's appmval ;:t , � --�
<br /> ` nh:ch shatl n�-t�s.e*3n:eascn;r�Jy withhela. If Horrower fails to maintain coverage described above. L.ender ma�,at L.ender's � ,;_
<br /> , ;. � option.obr2in.��E��age to pmt:ct Lender�rr;�`s in the Propert}•in acc�rdance with paragraph 7.
<br /> . . --e'l' � f f� • �:��[i �
<br /> � .�l izs��u:-,ma�^olicies and renewa.y �� x acc table to L.ender and shall include a standard mortgage cfause. Lender -::,�,-•;�+:�
<br /> � . �i�s1J���y��r:e r,�:o hold t�e�olicies a[r.:~:r�tials.IIf Lender requires.Barrower shatl pramptlY give to l.ende:all receipu of ::' ' .. .�:' .:_.
<br /> �# 3��„.m_::�i�ms aaci rerrena:�.�:�i:s. in the event of las:;.(3��7ower�hall give prampt aotice to the insusanc��ier and Lender. ^'�} . "' ;.,:,�;��;�_�
<br /> "`' } I��:Nrrnay�}�;osE'of(c:.y�:nat made rom d b�Drarxower. �'•- . '` �
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<br /> Ll�less i1��.•. a„d Borrower otherwise agree in ari;,ng. insurance proceeds s6a11.E�:app l i e d ut n'storatia�.wr repair of the .;...;,:<<_s,a
<br /> Propecty dar,r�.��::.t`'tfie restoration or repair is vconomically feasible and Lender s,ra:sity is not lessened.If the rtseoratiare�s :. �� •-
<br /> ' ' repair is not�:an�Mically feasible or Lender's security woutd be tes.ceaed.the insursa�praceral�shaQ be applied ta the sams � '' �:�.��y
<br /> secured by this S.,curity ln,�r.;.,�ent, whether or not then due.witb any excess pzi�,� �o Borrower. If Borrower abandons the ,:r��{;;
<br /> . • . Pn.���rty,ar does nat ansHa:c.;�:in 30 days a notice fm� 1.ender that the insurau•.:cxrrier has offered to settte a claim,then , . . • ,�;?
<br /> - I.�.:,:�r may collect the ins�-:�•» r:occxds. Lender m�� Wwr the proceedc to repair or re:;tare the Pmpeny or to pay sums --'�~,
<br /> � '� ;`�.; secured by this Security Ms�*.1:-t:s!=.1�;�etL�.c::.-not then su:. �:he 30-dz�•period wiU begin when tho notice �s g�ven. - ��`�'�
<br /> � �r',, p P P .. . ` •"�w.uti.
<br /> • '•; :;:y Unless I.ender and B.;sr,-..w eth�.�.�.�z a�ree ir c+-r;- . any ' �tian of raceeds to rinci al shall not extend or � . ,;...�,�.
<br /> �!::;';�' postpone the due date oP the��:�.t.ly �a�:.,9Ty referr�,:c�* :�para°c�a��`� r and 2 or change ehe amount of the payments. if ,. �.-�•���"
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<br /> • �'��� �;.�.W,:r paragraph 2i the Properr_�.:s acqu�red by I.ende°.�,z-^:Rer's rigs:::��a�y insu*ance pnlicies and praccecis resulting from • . . • •r:
<br /> • �� ::in:,;e to the Property priorrm•:�e ucqui,itian shall p�>tp L�der to the ex[ent oti iJr.�sums secured by this Security Irutrument � :•,�•....-.
<br /> . •..,,� :�rr.diateiy prior to the acqcu,re,on. •. '�`__
<br /> • : + 6.Occupancy,Pre�ervation,Maintenance and Protection oY tfse�aroperty:�urrower's Loan Application;Leaseholds. ��:�—
<br /> , :' .''s.'iy , . . � :��-._. ..
<br /> •¢.,i Borrower shall accupy.establish,and use the Pmperty as Barrower s�r.-•:ipal rcsidence within sixty days after the executian of
<br /> ,..,:3rk1.
<br /> •,,;;,:,; this Security lnstrument and�hall c�mtinue to occupy the Property a��cr-'ower's principal residence for at least one year after . _,�
<br /> �. •' ;:r,s the date of occupancy,unless Lender othenvise agrees in writing. u'�r-:�::rnnsent shall not be unreasanably withheld, or unless . ,: ..-�--`
<br /> extenuating circumstances z�:s�: which are beyond Borrower's cor.;re:. Borrawer �'�all not desuay.damage or impair the . . � •:'�.
<br /> ' ' Pmpeny, allow the i'ropcn•y �� �eteriorate. or commit watite an tk: !�-�perty. E:rn�a+er tihall be in default if any forfeiture '_ s•., .
<br /> • �•��•ri action or proceeding, whether ctivi3 or rr:�_nal,is begun that in L�-n;-r;•gaod faitb�udgment could result in forfeiture af the . ,. r•
<br /> • , ` ;��;;':' Property or otherwise materially impair::�::i�n create<I by this 5ecu:�; i�stsument or Lender'S v3�;.r�'y interest. Borrow�er cr4.:y . , . ;��•`tti��'__
<br /> ,c� .>>
<br /> � �.��y':� eure such a default and reinstate,;�ti prnvicr:,�in paragrap h I S,by causmg t he ac tion or prac e e c iir��1:.ih:dismis��+iih a ru[u�_ . .";''���Sl�'
<br /> �'�`.s. -%�
<br /> � ��..
<br /> �. �f � that. in Lender'+ good faith determination, precludes forfcitur:aP the Borrower'. interest in t:•e L�:epesty ���r�:+1s>_s ma:c�i.ai -�.:,`�;�;;6';;;
<br /> ` "'� nn?airment ��f the lien created by this Security Instn:•.�ect or l.ender's security intere�.t. Borcower shall ��rn 'h::�_ ��fault if • ;�•r�'}��,
<br />' ` , �-�ower,Juring the loan application procesti,gave nua�.ally false or inaccurate information or statements to i:.:aaa:r(or fai!e� . . •';,;;.::
<br /> '� `;��• to providc Le�e+_er with any materiul infi�rr��r.i�u»in cunnecti�m with the Inan evidenccai by the Note, including, but nat limit�i ' ��,i:"''�'
<br /> •' �''°: to,rc rceer.t;,zja-.�s concernin Burrower'� ���.�< ane uf the Pru �rt �� rinci a) residence. If this Securit Instrument i+.���: a � •���`"'���
<br /> ...4� P ' S P Y P' Y� P P' Y .•�,a;:.,,,,�
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<br /> _� le:��eh��ld. �ri:�,.--�-�tr �hall comply with �l �t�e provi�iom af �he ,�:.c..�. lf Burrower acyuireti f'ee tide ta the Property. J��: • -'j��r1`'`•.>���
<br /> - • ' leasehuld and:!•.e fce title shs(E nnt merge i:.;Sess i.endcr agrees to the rr�.-�s�r�r in writing. �;�;{,:�!��r:r;
<br /> ' � 9.Protection of Ixc�d'i:�4 Q��.;)hts in tlhe Properec..[F�9urcawer f�<<�:��per6lnn chc covcn:snts and agrecments cantained in �,``•(;, �� : �
<br /> ' �l,s;Security Insirument. �r�'�.r+��: zs a leg�t proceaiirig ih�t may tiignit¢ra:tly aff��:i• �der's rights in the Prupeny Isuch as a t:��'�.� •: .
<br /> . . . praceeding in bankruptcy. pn,r�te. fo-c:,„ec.^.nation or furf'eiture or t�z e;�force!�a�or regulations). then Lender muy do z,�� • ���r),��.,.,
<br /> pay for whatever i�necessary tu pr�,tec:z �n; .alue of the Property.:r y G�nder's rights in the C�'n:¢criy. Lender'.actiunt:rr�, �.'•':;:r;•`:'
<br /> � inctude prying any sums sccured by a i;�+r a+hich ha� priority m�r chis Sccurity Instrumerir.. ��,praring in couri. p�y��:�: ':;�r;i•::�;;
<br /> � � rea+unabte attomcys fces and cntering�m the hmpeny to make repairs. Although Lendcr m�y t:il<e action under�hi.r paragrarrr • '"'
<br /> ' . 7,L,endet dues no1 havc lo do so.
<br /> . Any amounts disbursed by Lender undcr thi. paragraph 7 ,hall become additiun�l debt of Burrower �ecureci by thix
<br />� z::. 5ecurity Instrument. Unless Borrower and Lendcr agree to rnher termz of p�,�yment,these amuunts shall brar inter�yt frnm the . �.
<br /> � date of disbunement at the Nute r�te and �hall he pryable. with interest, upun notice from l.ender to 8��rrawcr reyuettin� '`''
<br /> - . � � payment. `
<br /> 8.NurtRage lnsnra�ce. If L.ender required mortgage in�urancc a�:�condition nt muking the b�an,ecured by thi.Security . .
<br /> .. � . Imtniment. BnrrowCr shaU pay the premiums mquTn.�d to maint:fin the mortgage insurancc in efFcct. If. for any rc:i�on, the • . �
<br /> • '. . mungage imurance awerage reyuired by LenJer I�;z�s or ce:ise.to be in effect. Borrrnver.hall pay the premiumti reyuired to •
<br /> . i oMain coverage tiubtitantially eyuivalent to the martgage insurance previou�ly in effecK. at a c��+t wb�tantially eyuivalent to the ' .
<br /> . � coct t�� Burrower uf the mort�eagr insurance previously in effert, from an altemate mortgage m.urer appr�rved by Ler,der. If
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