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<br /> Thc Fuixls shall be held in �n institution whose deposits arc inhurcd by u fcder.d n97y.rinF.ttumen� enUty
<br /> (including I.c»dcr, if l.cndcr is such an institution)or in uny Fedcrul Huinc L.�mn B��nk.I.crxlcr Fhxll np�yly tl►e Fundh to puy thc
<br /> Ercruw Itcros. l.endcr muy not chargc B�►rrowcr ti�r tiolding und npplyin�thc:funJs, unnunlly nnnlyiin�t thc cscr��w+�ccaunt,or
<br /> vcrifying ihc Esc�•ow Itcmti,unlcss[..cndcr pays B�orr�wcr interest on thc FunJy und applicablc luw pi:rmi�s l.cndcr w mukc surh
<br /> n churgc. Nowc��cr, l.cndcr muy reyuirc Bnrrowcr to pay u onc-tinzc chi�rgc fur un indcpcndcnt rc�d rstutc tux rcpnrtin�scrvicc
<br /> u5ai by I.ender in cunnection with ihie loan, unless applicubl�.� luv� provides utl�erwise. Unlnns nn ugreemcnt is mnde or
<br /> npplicuhlc luw rcyuircti intcrest to bc:pnid, l..c:ndcr shull not bc rcquimd to puy Borrowcr ony intcir.st or cernmgx an thc�unds.
<br /> f3atmwcr und l.�ndcr inuy ugrcc in writing, howcvcr,thut intcrest shnll bc pidd nn d►r Funds, I.endGr whall glvc tu 13orrowcr,
<br /> with�iut chargc, un unnual ncrauming of the Funds, tih�tiwing credits�ind debits to the Fund� und thn purymse fiir whicl� euch
<br /> dchit to thc Funds wuti nradc.7 hc Fuuds arc plcdgcd us additional securiry f'or all sums sccured by thif+Bccuriry Inr�trumcnt.
<br /> It'Ihc Nunds luld by l.cn�icr cxcecd thc umaunta permiucd to bc hcld by applicublc Imv, I.cndar shnll�ucount tn Hnrrowcr
<br /> fur thc exccss Funds In ucwrduncc with thc rcyuiremcnts of�pplir.nbl�.> luw. if thc Amaunt of tha Funda hnld by I.�:ndcr at any
<br /> time is not sufficic:nt tn pay the Escrow ltems when due, L.endcr may so notify Borrower in writin�, nnd, in such c�sc Borrawer
<br /> shall puy to Lender the Rmount necessury ta make up the deficiency. Borcower sh�tll make up the defiaiGncy in no more than
<br /> twclvc monthly puyments,at L.ender's sole discretion.
<br /> Upon payment in Pull af nll sums sccurcd by this Sccurity Instrument, L.endcr shs►11 promptly refi�nd to }3orro�vcr miy
<br /> Funds held by Lcnder. If, under pa�agraph 21,Lender shaU acquire or scll tfte Property,l.ender,prinr to thc acquifiition or sale
<br /> af the Property,sh�(1 apply any Funds held by[.ender at the timc of acquisition or sale as a credit �gninst the sums securul by
<br /> this�ecurity Instrument.
<br /> 3.Application oP Payments,Unless applicabla luw provides otlir.rwise, all pnyments receivcd by I_snder unJer paragrnphs
<br /> 1 and 2 shall hc applied: first, ro any prepayment chargcs due under the Note; second, ta amaunts pnynblu under pnrngraph 2;
<br /> third,to interest due;faurth,to principal due; and lust,to any lute cherges due under the Note.
<br /> 4.Cha�es; Llens. Barc��wcr shell pay xll taxes,assessrnents, chargcs, finas and impositions atlritfutable to the Prope�Yy
<br /> which►na�uttain priority over this Security 3nstrument, and Icuschold pnyments or grounJ rentn, If uny. i3orr�aver shall puy
<br /> these obligetiuns in thc manner providcd ln paragraph 2,or if not paid in thut manner, Borrowcr shnll p;:v F:7ern on time dircctly
<br /> to thc person awed payment.Burrowcr shall promptly furnish to Lender all notices of nmaunts ta be paid under this puragraph.
<br /> If Bonower makes these pnyments directly,Borrower shnll promptly furnish to Lender receipts evidenciiiX;¢h��ayment�.
<br /> Borrower shull promptly disciiarge any lien which has priority aver this Security Instrumcat unless Borrowcr: (:iD Agrees in
<br /> writing to the payment of the obligntion secureci by the lir.n in a mu�ner acceptcible to Lender;(b)camests in gnod faith the lien
<br /> by, or defends against enforcement of the lien in, lesul proccedings which in the I..cnder's opinian npe,•atc �o prevent thc
<br /> enforcement of the lien;or(c) secures frum the hold�sr of tlie lien an ugreement satisP�ctory to I.endor subnrdinnting the lien to
<br /> this Security Instrwnent. If'Lender detormines that uny pan of the Property is subject to a Ilen which muy attuin priority over
<br /> this Sccurity Instnimcnt, L.cndcr may givc Borrowcr a n�ticc idcntifying thc licn. Borrower shnll swisfy thc licn or takc onc or
<br /> morc of thc actions set forth abovc wi�hin 10 days of thc giving of noticc.
<br /> 5. Hazard or Pruperty lasurance. Rarrower shull kcep the improvcmcnts now cxisting on c�rcuftcr crected on the
<br /> Prope:rry insural aguinst loss by fire,huzurds included withln the tcrm "cxtended cuverage" und uny other hu•r,u��ls. including
<br /> flnods or flnociing, fot•which L.c�xlcr rcyuires inEUrancc. 'fhin in.uraiicc shull bc muintuincd in thc �:mountti und fiir thc pc�ricxls
<br />_ that Leixier requires. 'The incurunce carrier ornvidin� �his IIIAUf�I1L•C �hull he chi►ren hy Burrower�uhicrt to Lendor's approvul
<br /> whirh nhall nnt t�e unreascmubly withhcld. lf Bnrrawcr tnil� to muint�iin c��vcrugc dc,critxxl ubovc.I.ender muy, ut Lendcr's
<br /> uptioa,ubtain cmcragc t��prot�ct Lcander's ribhts in thc I�ru����Yy in accurdmicc with parugruph 7,
<br />- All insuraitice policies and renewals SBull be ucce�tuh e tn Lender nnd shall include a uandurd mun6uge cluunc. L.ender
<br /> . shall have ihe right ta huld thc p��licics cind rencwalh, lf L.end�r requires,Li�rrowcr�hull prnmptly givc tc�I.endcr nll reccipt�af
<br /> paid premiums and renewni not ices. In the event��f luss. 13�irrower shnU give prompt noUce to the ir�xurance carrler nnd l.ender.
<br /> L.cndcr may make praof of Ic�ss if not made prompdy by F3urrower.
<br /> Unleu Lender and I3orrower othcrwi�abn:e in writing. insurance procecdti shnll bo�pplfed to restoration or rcpair of the
<br /> Property damaged,if the restoration or repair is cconomicully fcusible nnd Lendcr'S�ecurity is not lessened.If the restoration or
<br /> repair is not economically feasible nr Lendur's securiry wauld be lessened, the insurance pmceeds shall be npplied to the sums
<br /> secu�ed by this Security Instnan�ent, whather or not then due, with any exccss paid to Bnrrower. If Borrower abandons the
<br /> _ Propeny, or dces not answer within 30 days u noticc from Lender thut the insurance carrier has offered ro settle a clttim, then
<br /> _ L.ender may collect the insurance proceeds. I.endur muy ur.e the praceeds to repair or restore the Property or to pay sums
<br /> ,� secural by this Security instrument. whether or nut then duc.The 30-duy period will begin when the notice is given.
<br /> < Unlesq I.ender and Borrower otherwius agree in wnting, nny applicntion of proceexis to p�tincipal shull not extend or
<br /> � postpone the due date oi the monthly puymants rcferred to in par�graphs 1 and 2 or changc the ur�nount of thc payments. If
<br /> r under parngraph 2l the Properey is acquired by L.ender, Horrower's right to any insurance policies and pmcccds resulti�g from
<br /> � damage to the Property priar co the acquisition shall pass to Lender to tha extent of the sums secured by this Security Instrument
<br /> immediately prior to the acquisition.
<br /> 6.Occupency,Preservution,Mnlntenance and Protect[on af tl►e Property;Borrower'K Loan Applkntta�;Leaseholdls.
<br /> . Aorcower shall occupy.establish,and use the Propeny as Barrower's princip�il msidence within sixty duys nRer the executlon of
<br /> this Security Instrument and shall cantinue to occupy tho Property ns Borrower's principal residence for ut Ieast one ycar nfter
<br /> the date of occupancy, unless Lender othenvise Hgrees in writing, which consent shall not be unreasonably withheld, or unless
<br /> extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, dnmuge or impair thc
<br /> Property. allow the Property to dcteriorato, ar commit wa�te on the Property. Borrowcr shall bc in default if any forfeiture
<br /> • uction or proceeding, whether civil or criminul, is begun that in L.endcr's gcwd faith judgmcnt cauld result in forfeiture of the
<br /> Properry or otherwise materially impair the lien created by this Sccurit� Instrument or Lender's security interest. Borrowcr may
<br /> cure such adefuult and reinstate,a� provided in pamgmph 18, by causing the action or proceeding to be dismissed with A nQing
<br /> that, in [.cndcr's goacl faith dctcrmination, pn:cludcs forfciturc�f thc Borrowcr's intcrest in the Property or othcr materinl
<br /> ' impairment of the lien crcated by this Security luetrumen►or Le►►der's security interest. Burrower shall also be in default if
<br /> Borrower,during the loan appl ication process,gave materiully fnlse or inuccurate inforniativn or statements to Lender(or fniled
<br /> to providc Lendcr with,my mutcrial informatian)in connection with the loan cvidcnccd by the Note, induding,but not limitcd
<br /> to,representations concerning Borrower's a:cupancy af the Praperty as a principal residenco.If this Securiry Instrument is on a
<br /> � leasehold. Bonowcr shuU comply with ull the provisions of thc Iwse. If Borrower acquires fee titic to the Yroperty, the
<br /> ° IwschalJ and the fec title sl�all not merge unless Lender agrces to th�merger in writing.
<br /> ' 7.Protecdon of Lender's Rlghts in the Pro��erty. If Borrower fuils to perform the covcnants and ugre;ements contuined in
<br /> 4 this Security Instrument, or thcre is a legul proceeding thut may significantly affect Lender's rights in the Property (such as u
<br /> ' procceding in bankruptcy, probate, for condemnation or forP�siturc or to entiirce luws ur regulatian:), then[.ender may do and
<br /> � Qay for whatevcr is neccssnry to protcc�t thr vuluc oY thc Property and I..�:ndcr's rights in thc Propc.rty. I.cndcr's uctlons muy
<br /> ' mclude paying �iny sums secural by a licn which hus pri�rity over tl�is Security [nstrument, uppwring in court, paying
<br /> «.....�«..L�w w�a�....�....�l:.��.....J�«�w:�....�..�I..� I].........r..�.. .....1.���...... A I�L.....�L f _�.1____'. ._I._ __.:._".._J__.L:_________L
<br />- ...r•.v....,� ..,.,o u...u.�u.�b vu a�.. .�v�i��y av u��u...14�/4tlo. �1tUIVMLf�1..�uu�� may �unc a�inm uuuc� iu�a�a�ag�aNu -
<br /> ! 7,I,ender does not huve to do sa.
<br /> . Any amounts disburscci by L.cixlcr undcr this puragraph 7 shull becomc additional dcbt of Borrowcr sccurcd by this
<br /> Security instrument. Unless Borrower and Lendcr agrec tn nther terms of payment, these amounts shall bcar interctit f'rum the„r
<br /> Jate of disburscment at the Notc ratc and shall be p:ryable, with interest, upon noticc from L.enJcr to Bc�rrc�wer requcsting
<br /> paymcnt.
<br /> 8.Mortgage Insurancc. If Lender rcyuircd mongi�ge insur�nco as i►condition of making thc loan securcd by this Sccurity
<br /> Instrument, Borrawer shall pxy the pi�miums reyufred to muintuin the mortguge insurunce in effect. IG fur any rc:ason, the
<br /> mnrt�uge insurance covcragc required by [.�:ndcr lapscs or ccuses to bc in eff'ect, Borrowcr sh.dl p�ry thc premiums rcquiruf to
<br /> obtain cvvcragc substuntiully cquivalcnt to thc mortgagc insur.incc pmviously in cffcct, at a rcist substantially cyuivident to thc
<br /> cost to Borrower of the mort�agc in�urancc previuusly in cftect, ftum un ulternute mongngc insurer.ipprovcd by Lender. If
<br /> Paqa 2 0l 4 Form 3028 9l90
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