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<br /> UN��o�t�ovct��t�ns. Barrc�wer snd Lender covcnant and ngrcc as follows:
<br /> m 1. Po�nnent ot Princlpal wnd Inte��eati Prcpa�ment�nd I.ate ChRrge�. Bonowcr ahall promptly pay whcn dua —
<br /> ' � the principal of und intcrcgt on the dcbt cvidenc:cd by the Note and ony prepnyment und late chArgca due under the Nota ` `_._
<br /> Z. Fund�[tir Twxee wnd lnRUrance. Subject to applicublc luw or to a writtr.n wnivcr by Lendcr,Borrower shall
<br /> pay ta Lender an the day monthty paymunts ara duc under the Noce.until the Notc is pnid in full,n aum("�nds") for: �_
<br /> (a) ycarly taxes and asseasments whlch may attain prioriry ovcr this Securlty Instrumcnt us a Iicn on the Property; (b) -
<br /> yearly leasehold paymenta or ground tentc on the Property. if uny;(c)yeurly haiard ar praperty ins annce p�ePaYable(by
<br /> yearly flood insurance premiums� if any; (e) yearly mortgage insurance premiunu, if uny; and (� y
<br /> IIanowar to Lendcr, in aa:ordanca with Ihc provis��n�of pamgrnph 8, in licu of th� paymcnt of moetgage u�surance
<br /> � _-
<br /> premiums.These{tertu aro called�"F.scrow Items."l.ender may.ac any�im�,collect und hatd IUnds in an amount not to �
<br /> exceed the maxlmum amount a lcndet for a federally related mortgage loan may rcquire for Borrowcr's escrow accouni
<br /> undcr the federal RcAI E.State Settlemcnt Procedures Act of 1974 as emended from time to time, 12 U,S.C. § 2601 ct
<br /> req. ("RESPA"), unless another law that applies to tho Funds sets a lcr,ser arnount. lf so, L.ender may. nt any time,
<br /> collcet and hold�nds in an amaunt not to exc�ed the le.cser amount. I.cnder may cstimate the amount of Funds due
<br /> on the basis of currant data and reasanable estlmatcs of expenditures af future Facrow Items or otherwise in uccordance
<br /> wfth applicable law. -
<br /> The�nds ahaU be held in an tnstitution whose deposits ere�nsured by a federal agcnry,
<br /> instrumcntality,or entity
<br /> (including Lender� if Lender ia such an instltution)or in any Fcderal Home Loan Bank. I.ender ahall epply the Ftinds
<br /> to pay the Escrow Itemg. L.ender may not charge Bonower for holding and upplying thc Funds,a�vsuaUy anal}r�ing the
<br /> �rrow arcount,or verifying the Eacrow Itcros, unless l.�endcr pays Borrower interest on the Funds and applicable law
<br /> ..� parmita Lender to make such a charga. However, Lcnder may require Bonower to pay a onc-time charge for an
<br /> q independent real estate tax reporting 6ervict used by Lender in connution with this loan,unlcss applicable law provldes
<br /> � othenvise. Unless an agr�ement is madc or applicable law requiros interest to be paid,Lender shaU not be required to _
<br /> pay Borrower any interest or�arnings an the F�nds. Bosrower and I.ender m�y agree In writing,however,that interust
<br /> sha11 be pA�d on the F�n�is. Lendor shaU giva to Bonower,without charge,a�3 annual accounting of the Fuads,showing
<br /> � credits pnd debi�s to the F1mds and the purpose for wdich each deblt to tha Flrads was made. The Fuads are pledged
<br /> ,� es addItionai securiry for aU sums secured by tivs Securicy Instnunent•
<br /> _� If the�nds hold by Lender excecd the amounts permitted to be hdd by applicable law,Leader shall account to
<br /> - Bonower for the excess�ndt in accordance with the requirements of appHcable law. If the amount of the Funds held
<br /> -�j by Lender at any time is not suff'icient to pay the Escrow Items when due,Lender may so notify Bonower in wrltinB+and,
<br /> ;� in such case Bonawcr shaU pay to Lender the amount necessary to make up the deficiency. Borrower shall make up
<br /> the deScieacy ia no more than twelve monthly payments,at L.ender's sole disctetion.
<br />_:�� Upon payment in full of aU sums aecured by t6i� Security Instrument� I,ender shall pramptlg rcf�nd to Borrower
<br /> any Funds h�1d by Lender. If,.undcr paragraph 21,l.ender shall acquire ot sell the l?roperty, I.ender.prior to the
<br /> "'� ���nicition or eale of the Properry,shall appty any F1md�held by Lcnder at thc time of ncquisition oi sale as a credic
<br />-_= against the sums sccured by this Security Instrument. ents received b Lender under
<br /> -:� 3. AppUcxtlon of Payments. Unless applicable 1�n tch�r�due un er�the Note;second,to amounts payabk
<br /> 'i PaT�lI�P� 1 �d 2 shaU bc applicd: first, to any prepaymc 8
<br /> � under parngraph 2;thitd,to interest due; fourth,to princlpal due; and last, to any late chargrs due under the Nota
<br /> - 4. Ch�r�esi I.iens. Borrower shaU pay all taxes,essessments,cherges,ftnea and imPositian.g Attributable to Ihe
<br /> prop�rty Which ipay attain priodty over this Sccurity Instrum�nt, and kasohold payments or graund renta, if any
<br /> Banowe.r shall pay these obligatians in the manner provided{n paragtaph 2,or if not paid in that marmer, Borrow�r
<br /> si�sU pay them on tima dircctly ta the person owcd paymcnt. Borrower ehaU promptly fumish to Leader s!1 notices of
<br /> amounts to ba paId under:hts paragraph. If Bonower makes theso payntents dircctlY�Borrox'cr ahall promptly fivaiah
<br /> to I.ender receipta evldencing the paymenu.
<br /> Bonower shall promptly discharge any Uen which has priority over this Security Instrument udess Bormwor.(a)
<br /> 8grees in wrtting to the payment of the obHgation secured by the lien in e manner ecceptabie to Lender; @) wnteats in
<br /> good faith the lien by�or dafcnds agatnst enforament of the Hen in, legal praceedingu which In the Lender's opinion
<br /> _ operat�to�revent tho onforcement of the Hea;or (c)secures from the holder of the lien�pgch peo saUSfa�ctob to
<br /> = Lender subordinating the liea to this Security Insuwnent.If Lencler detetmines that a�r p P��Y ]�
<br /> - to a lian wWch may attain priority ovcr this Security Iastrument,L�ender may givo Bonower a aoUoe ident�g�the�
<br /> - Boaower shall satufy tho lkn or take one or more of the actions set fonh above withln 10 days af the gi' g
<br /> 5, I3�rd ur property Insurnnce. Borrower shaU keep tha improv�ements now►adstin8 or hereafter erected on
<br /> the Froperty inswed againtt Mss by Fire, hszards inc�uded within the term "extended coveragc" and any othcr hazards,
<br /> including flood�or tlooding,for whkli L.endcr requira in�urnna. Thit insuranoe shall be mainteined ia the amaunta and
<br /> � for the periocls that Lender requires. :he nssuraace canier provlding the iasnranee shall be chosea by Bonower subject
<br /> .� to Lender's approvel which�hall aot be unreasonabty withheld if Borrower fails to maintain�coverage descn'bed above,
<br /> -=^� Lender muy�et Leadet's option.obtain owerage to pmtoct Lendet's rights in ttx Property in a000rdanoe with paraBraPh 7.
<br /> - p�l int�rance policies and,renewals shall be eaxptabk:to Lender and shall includa a stand�+rd mortgage clnuse.
<br /> Lcnder ahell have the right to hol�the policies end renowals.If Lender requua.Bonower shall promptly give to Lender
<br /> � sll rcaipta of paid premiums ar.d renewal noticea, In the event of bu, Borcawer shall give prompt notice to the
<br /> "-� ;�.•uanoe cnrrier and Lender. l.euder may make proof of loss if not made promptty by Bonower.
<br /> -.i� Unkss i,endcr nnd Bonuwer othecwise agteo in writing, uuurance proceeds ahall be 8?Alied to restoration or
<br /> -- repair of u_-�roperty dannaBed,if the restoratlon or repaIr is econa►r►ically feasibk and I�ender's socnrity is not lessened.
<br /> �-= If the reatorei��or repair u not ecanomicully feasblc or Lcnder's security would be lessened, thc insurance procceds
<br /> � shall be applkd to the sumt secured by this Sccurity Instrument,whether or not then due,with aay�xau paid to
<br /> �,� Borrower. If Bo� ower abandonti the Propercy�or does not answcr within 30 daya a notioe from Lender that the iasurance
<br /> cxrrier has ofEereo•o settk a cleim,then I.ender may collect the insunnce proceeds. I.ender may use the proveeds to
<br /> �L�� ropair or ratote tha Property or to pay sums secured by this Security Instrument,whethcr or not then due. The 3U-
<br /> __� day period wEll begin when tho noticx is givon.
<br /> Unless Lender and Borrower othenvlse agree in writing,any appGcation of proczeds to principal shall not excend
<br /> �';� or RostFonc the due dutc of thc monthly paymenu referrccl to in paragraphs 1 and 2 or change the amount of the
<br /> __� �... .._a�. n.�..,...,..•c .ioht tn �nv incutance UOliCieS 3IId
<br />_ �.. paymcnts. If under parngmpn ii tne ��roperiy i�dix'ry'itcu v� a.��+.....r w••�••--- •-a--- •- ---. -
<br /> - procteds resulting from dartu+ge to thc Properry prior to tho acquuition shaU pau to Lender to thc extent of thc sumti
<br /> _-,� secural by this Security Instrument immadiutety prior ro the acquuition.
<br /> 6. Occup�ncy� Presen'atlon� Molntenana ond Protectlo» ot the Propercy; Borrowar's I.a►n ApplicwHon;
<br />:;_�'' Leaseholds. Borrower shall occupy,estnblish,und use the Properry as Bonower's principal residenoe within sixty days
<br /> aftcr thc cxecution of this Security Instrument and shall continue to occupy the Property as Bonuwer's principul residcncc
<br /> `-`} tor ut lcast one yeur nfter thc datc of occupancy.unless Lcndcr othcnvicc agrces in writing,which conscnt shall not be
<br /> ^�.
<br /> °�� unrcasonably withheW,or unicss cxtcnuatin�circumstanccs cxist which arc:bcyond BorrowGr's control. Botrowcr s a
<br />•• ; nnt dcstroy, damagc or imps+ir thc Property,allow thc Property to deterioratc,or commit wastc on the Property.
<br />;�� ' 4li6 (Pag�2 oJ E Pegee)
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