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<br /> '1'hc f'aixts :.hWlf hc hcld in uu intiNtu�ion w�hosc dc�x►sits ure insured by u faiernl ugency, fnstrumentai� , o �j1Y
<br /> IlnrluJh►g I�ci�ler,If l�i�lcr Ir.uch un in��itu�ion)ur iu uny F��ieral Hnme l.�n Bank. I.e��icr shull apply the Punds tn pny th�
<br /> I?K;rnw Ucro�. I.��wlcr uwy nni�:hargc li�►rre�wcr fi�r huldhiK un�l upplying thc f'u�xir,unnuully nnulyzfng dre rscrow uccuunt,or
<br /> vcrifying Ihu 1?uruw llciu+. milr,•, I.cnd�r p,iys Fkrrruwrr Intcrest nn tl�c funds i�nd npplicuhlc Inw�nnits landcr tn nu►kc surh
<br /> u churg�. Huwcvtr, I.iiklrr w;ry r�.�uirc li�nruwcr 1�►puy n a��c-tinx�churgc fiir un i�xfepcK►Jcnt rcul cstiitc tax rc{x�rting srrvicc
<br /> used hy Lcixler in �:�+mx�.dun witli this bain, unics� upplicuhlr, luw prnviJcti �et6crwisc. Unlesy un ugreenxnt is nuw.ic or
<br /> u{+plic+�litc luw n�yuinn tnter��t to Fw pai�l. l�:nder whull not t�: rrquirc�l to pay&►rrnwcr uny interesl nr camings cm the Fu1x1s.
<br /> Ilurrow�r iuxl (..os�Jrr m�y ugrcc In wriung, huwever. th;u intcrc�t rhull hr p:dd an the I�unds. l.endcr�hall give to At�rrnwcr.
<br /> wittH�u� rh�r�;c, un iu�nuul :acounting�if �hc Fwxis, tihowing rr�vlits ui�l dcbits to thc Fw�ls und the purposc for which rsch
<br /> dchh to dic I�und�wus mudc.'I'hc Funds ure pl�Ylgcri us udditionid sccurity for all sums secure�i by this Securiry Instrumcnt.
<br /> If tho Fttnd� hcld hy i..cixicr cxcatil thc umounty pc:rmittcd to tx:hcid by upplicuUlc luw, L�:�xler+ha{1 u�:cuunt tu Burrow.r -
<br /> for tha exctss Furxls in uccurJu�xe with the requiremenih of opplicublc law. If the wnount of the Fu�xls ticld by l..eixier at uny
<br /> dnie is not e+ufPicienl tu p;►y Ihe Escrow Items when due, I.ender muy so notify Borr�wer in writing. mxl, in such case Hormwer
<br /> shall pay t�� Leixicr the an�aunt ►H.�a:cssary to muke up the deficiency. &�rrower shull muke up the defiricncy in no nwrc than
<br /> tweiv�ntonthly puynx�nts, �t Le��der's xole discretlan
<br /> U�in puyment in full of :�II sums �ur<�cl by this Security Instrument, La:ndcr shidl promptly rcfinxi tn Rorrower uny
<br /> Funds held by Le��der.If, u�ler paragruph 21, I.ender shall ucyuire or seit Ihe Property. I.ender, prior tn the ucquisitian or�ate
<br /> of tho Pmpeny. shall apply any FunJs held hy i.endcr ut the time of ucquisiti�►�ur sal�us u�r�*dit uguinst the sum.r sccural hy
<br /> this Sccurity [nstn�ment.
<br /> 3.Applicatfon ot P�ymenis. Unless applicablc law provides othcrwisc,all payments rercived by L.eixler under parngriiphs
<br /> I and 2 shall be upplied: first, to any pr�payment churges due under the Nate; secand, to umountti payable under paragrnph z;
<br /> third,ta interest due; fourth,to principal due;and I;rst,to any late charges due under thc Notc.
<br /> 4. Chs�rges; L(eno.Burtt�we�' shull pay ctU taxes, assessmenG+, chsrges, fines and impositions iUtribu�able to the Prapeny
<br /> which nmy attuin prio�iry over this Security Instrument. And leasehuld payments or ground rents, if any. Bormwer shall pay
<br /> these obligations in the ma:�ner provided in paragrnph 2,or if not paid in that manner. Borrower shall puy them on time directly
<br /> to the person ow�:J payment.I3orrc►wer shull promptly furnish to Lender all noticeti of amounts to be paid under this puragrupl�.
<br /> If Borrower makes tl�ese payments directly,Barrower shull promptly furnish to Lender receipts evidencmg the paynxnts.
<br /> Horrower shall pramptly discharge any lien which has priority over this Security Instrument unless F3orrower: (n)agrees in
<br /> writing to tho puyment of the obligation secured by the licn in u munner acceptable to Lender;(b)conte.sts in gacxl F�i�h tlie lien
<br /> by, or def'snds against enfarcement of the lien in, Iegnl proccedings which in the I.endec's opinion operato ta prevent the
<br /> �nforr.,n�.nt af t6te lit�n;or (c) secures from the hatder of the lien un agreement satisfactory to Lender hubordinating the lien to
<br /> this Sec�:ri.t�•'_nw.ivme�t. [f Lender detormines that any part uf the Property is subject to a lien which rni�y attain priority over
<br /> this SerLtixy 1+��;r.�i:��nt,L.ender may give Borro�ve�•a natice identifying the lien. Borrower shall sutis�j� r.;�e lien or tnke ane or
<br /> more�f t;�a�tior,:s;:c forth above within 10 da��s of the giving of notice.
<br /> $. �utar�J at Ptoperty Iacurance. Bormwer shull kecp the improvemcnts naw cxisting or hereafter erecte�l on the
<br /> Proper�t�-insured a�ainst loss by C rc, hcuards includcd within thc term "extended covcrage" and nny�ihcr hn�.�rds, including
<br /> floods or tloudirtg,�ir which Lender requires insurance. This insurance shull be maintained in the umn�.snts and for the periods
<br /> that I.rnder reyuin.�s. The insurance carcier p�r���eding tlic insurunce shull be chosen by Borrower subject to Lencfer's approval
<br /> which shull not be u�masonably withheld. If Dnrrower fails to maintuin coverage descriped ubovn, Lender muy, at Ixnder's
<br /> option,obtain envera�e to protect Exnder's rights:n the Pmpeny in sccorctunce with parc�raph 7.
<br /> All insumnce policies and i�enewala sl�all oe acceptable to [.ender and shall include a st:u►dat•d murtgage clause. Lender
<br /> shall havr the right to hold the policies and renewlls.If L.endtr requires,Bonower shall promptly give to Lender all reccipts of
<br /> psud premiums and renewal notices.In the cvent of lass, Barrower shall give prompt noti�r to the intiununce currier and Let�der.
<br /> Lender may make proof of loss if nat mude pramptly by Borrowcr.
<br /> Ut►less Lendcr und Borrowcr otherwise agree in writing, insurance procceds shull bc epplied to►nstaration or repair of the
<br /> Property dunaged,if the restoration or repair is economlcally feaslble and I.encier's securily is not lessened.If the restoration or
<br /> repair is not economically feasible or L.ender's security would be lesseneJ, the insurunce prc►cceds shall 6e apptied to the sums
<br /> secura� by this Security Instrument, whether or not then due, with uny excess paid to Borrower. if Borrower abandons the
<br /> PropeAy,vr does not answer within 30 days a notice From Le�xler that the insurance carrier ha�ufferrd to settic a claim, then
<br /> Lender n�ay collect the insurrnce procuals. Lencier may use the pnxeecls to repair or restore. the Property or to puy sums
<br /> secured by this Security In�tmnKnc,whether or not then due.The 30-day period will begin wfien the iwtice is given.
<br /> Unless Lender und Borcower atherwise agree in wri►ing, uny application of procceds to principal shall not extend or
<br /> postporoa ttie dus datu uf thc monthly payn�nts referred to in par�graphs 1 aad 2 or•changc thc amount of the payn�en�s. If
<br /> undtar paragrxph ZI the Property is acquired by [.endcr. Iiorrowcr's right to any insucanae policies and procecds resulting from
<br /> damag�to the Property prior to the acyuisition shall pass to I..ender to the extent of thr sums secured by this Security Instniment
<br /> immediately prior to thc acquisition.
<br /> 6, paupancy�Pnserv�tic►n. MaintenAnce and Protection of the Property;Borrower's Lopn Applkatlon;Leaaeholds.
<br /> Bormwer shall uccupy,establish,and use the Property as Borrower's prinripal residence within sixty days after thc execution of
<br /> this Security Tnstcument and shall continue t�occupy the Propeny as Horrower's principal restdence for at least one year ufter
<br /> thc date of occupancy,unlcss Lcnder otherwise agrees in writing, which conscnt shall not be unreasonably withheld, ur unless
<br /> extenuating circumytances exist which are beyond Borrower's control. Borrower shall not destroy, dumage or impair the
<br /> Property, allow the Property to deteriorate, or commit waste on the Prnpeny. Bnrrower shall be in default if any forfeituro
<br /> action or proceuding,whether civil or criminal, is begun that in Lender's gaod faith judgment could result in forfeiture of the
<br /> PropeRy or otherwise n�aterially impair the licn crcated b�this Security Instrument or Lender's ux:urity interest. Borcower may
<br /> cure such a default qnd reinstate,as provided in paragraph 18,by causing the action or procecding to be dismissed with a ruling
<br /> that, in Lender's good fuith dctermination, precludes forfciturc uf thc Borrower's interest in thc Property or other matcrial
<br /> impairment of the lien crcaiai by this Security Instrument or Lender's security interest, Bo�rnwcr shtill also be in defuult if
<br /> Borrower,during the loun appiication process,gnve muterially false or inaccurate information or statements tu LenJer(or failal
<br /> to provide Lender with any m;�teri:�l infonnaticm)in connection with the loun evidenceci by ths Note,including, but not limited
<br /> to,representativns conarning Borrower's occupancy of the Property as a principal residence. (f this Security instrument is on u
<br /> lexschold, Burrower shall comply with all the provisions of the Iws�. If Borrower acquires fec title to the Property, thc
<br /> lcaschold and thc(ce titic shall not mcrge unless Lender agrer.s to the mcrgcr in writing.
<br /> 7.Pt+dtectioe ot I.ender's Rights in the Property.If Borrower fuils to perform the covenants uixl�gr�Y:ments cuntained in
<br /> this Serurity [nstn�ment, or there is a legal proccedinb that may significantly affect Lcnder's rights in thc Property (such a.s a
<br /> proce�.�ding in b:mkruptcy, probate,for condemnation or forfeiture or tu enforce laws vr regulutions), then Lender may do ancl
<br /> pay for whatever is necessary ro protect thc valuc of the Property and L.endcr's rights in the Propeny. Lendcr's actions may
<br /> include paying any swns sccured by u lien which has prinrity over this Security instrument, nppearing in court, paying
<br /> roucnnvhlo urr�,rnrvc' fr�c anel enterine nn the Prc►nertv tn make renairs. Althouah Le:nder mav mke actiem under thi6 nattturuDh
<br /> 7,Lender does ncx have to do so. � � � � �
<br /> Any amounts disburxd by Lcnder under thiti parugraph 7 shail become �idditional debt ot'Bcrrmwer srcured by this .
<br /> Security Instrument. Unless Borrower und Lender�igrce to othcr terms of payment, these amnunts shu{1 be:v interest from the
<br /> d�te of disbursement at the Note rate anJ shull bc payable, with interest, upon noticc from l.cndcr to Bormwer rcyue�ting
<br /> payment.
<br /> 8.Mortgage Insurance. If Lender reyuired mort�sge in,urar.cc;as a condition of making the loan saured by this Se�:uriry
<br /> instrument. Borniwcr shall pay thc prcmiumti rcquirui to mainta�n th� mairtguge insur;mce in eFfcct. If, for any reasim, the
<br /> murtgage insumnce caver.�gc reyuinJ by Lcndcr lapses or cwseti to bc in eftcct. Borruv�cr shall pay th�prcmiums rcyuir�l to
<br /> ' obtain c��verage �ubstantially equivalcnt to the mongagc insurunce previouzly in effect, at a cust substuntially eyuivulcnt to the
<br /> rost to l3orniwcr of'Ihc rnort�age intiur.uue previously in effect, from xn ;dtcrnatc mortgagc insurcr approvcd by Lcndcr. If
<br /> Pa�e x ur a Fotm 3028 9J90
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