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<br /> Thc Fundti shu11 he hcld in an institution whosc dcFwtiits arc insured by n fcdcr.ii ngcucy, inctrumcntnNty. nr entity
<br /> (including I.cndcr,if l.endcr is such nn institudonl c�r in any Fcdcrtd Homc Loan B:�nk.I.endcr shall appty thc Funds to puy the
<br /> Gurow Itcnts,l.cndcr may not chiirgc Borrower fur holding aud upplying thc Funds,nnnually unaly�zing t!u cscrow uccount,or
<br /> vcrifying thc fsti�ruw Itcmti, unlctis l.cndcr pny+Boirowcr intcrcat an thc Funds and applicnblc 11w permits Lcndcr to make such
<br /> u char�c, Hi�wcvcr, LAndcr mtry re uirc Borruwcr to pay n unc•timc rhargc far an indcpcndcnt real c,tat��tt►x reporting scrvicc
<br /> uscd Uy I.cadcr in ccmncctiun wit�i this lunn. unlrss uppliruhlc Inw providcs uthcnvi�c. Unlcss un ugrcemcnt iti mudc nr
<br /> upplicul�lc luw rc��uires hucrcrt lu hc puiJ, L.endcr�hull nnt bc reyuirc�f to puy 8orrowcr uny intcretit ur cuming�un d�e Funds.
<br /> Borruwcr iuid Londcr may agrcc in�criting, howcvcr, that intemri sf�ull hc puid on thc Funds. l.cndcr shnll givc to Horrowcr.
<br /> 1411I1UUl Cllilibl', an unnuul iiccuunting uf thc Fundh, +hi�wing crcciits und debits to thc Funds und thc pur�x►sc fi�r which e:�ch
<br /> ��n�<<<,cs�� runa�Wa,��,aJc. Thc Fundti arc pled�;cd iis.idditi�m��l sccurity for ull xum�;+ccurcd hy this Sccurity Instrument.
<br /> 11'th� FunJs hcW hy [.endrr rxrecd Qir unwunt,p�rmiucd tu bc hcld b��apPlicablc la���,Lcndcr shall accaurn tn 8onuwer -
<br /> for the excctis FunJs in uccurdunce with the rcquirements of upplicuble luw. If the tunaunt ot the Funds hcld by Lcnder at uny
<br /> [imN is not sufficient u�puy the Escrow ltems when due. l.ender muy tio notify&irrower in wriiing. and, in�uch cu�e Horrower
<br /> shul� pay to l.ender the umount necessury tu muke up the deficiency. Borrawer shrsll muke up the deticiency in no more than
<br /> twelce monthly Payments,at L.ender's sc�le diseretion.
<br /> Upon pay�:ent in fuU uf all sums sccured by this Sccurity Instrument, Lendcr shaU promptly refwid u� Borrower Any
<br /> Funds held by Leedet[f, under par.►gr�pb 21. I.ender shull ucquire or sell the Propeny,Lendcr,prior to thc acquisition or sulc
<br /> uf the Prop�:rty, shsll upply �:�y Fund, I�eIJ Uy l.ender ut the time of acquisitian nr s;�ic us u cruiit uguinst the su�i�.ti secured by
<br /> this Sccurity[nstrument.
<br /> 3.Appl(cution of Payments.Unless upplicublc law provides otherwise,all pnym�nts �eccivcd by Lender undcr purugraphs
<br /> 1 a�id 2 shull be applied: first,to any prepayment chnrgcs due under thc Notc: second,to unrounts p•ryablc under parugruph 2:
<br /> third,to interes�due• founh,to principul due:�nd last, to uny late churges due under the Note.
<br /> 4.Charg�;C.tens. Borrower shall pay uU taxes, a5sessments, charges, fines and impasitions uttributablc tu thc Property
<br /> which may actzin priority over this Security Instrument,and leasehold payments or ground rents, if any. 8orcowcr shull pay
<br /> these obligations in the manncr provided in paragraph Z,or if not paid in that manner, Borruwer shall pay them on time directly
<br /> to thc person owed payment. Honower shall promptly furnish to Lender ull nutices uf�unuunts w Ue paid under this paragraph.
<br /> If Borrower makes these puy►nents direc:tly,Borrawer shall pramptly furnish to I.ender receipts evidencing the payments.
<br /> Bottower shalt promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)agrees in
<br /> writing to the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)contests in gaod faith thc lien
<br /> by, or defends Aguinst enfarcement of the lien in, legal proceedings which in the I.ender's apinion operate to prevent the
<br /> enforcenxnt of the lien;or(c)secures from the holder of the lien an agreement sntisfactory to Lender subordinating the lien to
<br /> this Security[nstrument. If Lender determines that any part of the Property is subjer.t to u lien which may attain priority over
<br /> this Security Instrument, Lendcr may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take onc or
<br /> more of the uctions set forth nbove�vithin lU days of the giving of nutice.
<br /> 5. Hazard or Property Insurance. Borrower shall keep the �mprovements now existing or hereafter erected on the
<br /> Property insured against loss by fire, haxards includcrl within the terni "extended covera�e"and uny other hauirds, including
<br /> floods or flooding, for which I.,ender requires insurance.This insurance shall be maintained in the amounts and for the periods
<br /> that L.ender requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's appraval
<br /> which shall nat be u�reusonably withheld. !t rionower taiis to maintain coverage tIC.1Cf117C�1 i1�t1VC, I.cu�ic, �uuy, ut l.ciidei'a
<br /> option,obtain coverage to protect Lxnder's rights in the Propeny in r�ccordance with puragraph 7.
<br /> All ir�sur�nce policies und renewnls shull be ucceQtable to I.ender and shall include a standard mortgage clause. Lender
<br /> shull have the right to hold the policies and renewals. If Lender requires,Borrower shall promptly give to Lendcr all rcceapts of
<br /> paid premiums and renewal notices. (n the event of loss,Borrower�hall give prompt notice to the insurance carrier and i,ender.
<br /> Lendcr may mukc proof of loss if not made promptly by Borrower.
<br /> Unless Lender and Borrower otherwise agree in writing,insurance proceeds shall be applied to restoration or repair of the
<br /> Property damaged,if the restamtion or mpair is economically feasible and Lender's security is not lessened. If the restoration or
<br /> rerair is n�t economicallv feasible ur Lender's security would be lessened. the insuranee proceeds shall be upplied to the sums
<br /> secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If Bonower abandons the
<br /> Property,or dces not answer within 30 days n notice from Lender that the insurance carrier has offered to settle a cluim, then
<br /> Lender may collect the insurance proceeds. L.ender muy use the proceeds to repair or restore the Property or to pay sums
<br /> secumd by this Security Instrument,whether or not then due. The 30-day period will begin when the notice is given.
<br /> Unless Lender and Borrower otherwisc agrce in writing, any application of proceeds to principal shall not extend or
<br /> postpone the due datc of the monthly payments reFerred to in parngraphs 1 and 2 or change the amount of the payments. If
<br /> under paragraph 21 the Property is acqulred by Lender. Borrower's right to any insumnce policies und proceeds resulting from
<br /> damage to the Propc:tty prior to the acquisition shall pass to I.ender to the extent of the sums secured by this Securtty Instrument
<br /> immediutely prior tv the acquisition.
<br /> 6.Occupancy. Preservation, l�ialntenance and Protectton of the Property; Borrower's Loan ApplicaHon;I.easeholds.
<br /> •Bonawer shall occupy,estnblish,and use the Pmperty as Bonower's principal residence within sixty duys after the execution of
<br /> this Security Instrument und shall continue to occupy the Property us Borrower's principal residence for at least orte year after
<br /> the date of occupancy,unlcss Lender ott►erwise agrces in writmg, which consent shall not be unreasonably withheld, or unless
<br /> extenuatins circumstanees exist which are beyond Horrower's control. Bottower shall not destroy, dumuge or impair the
<br /> Property, allow the Property to deteriorate, or commit wuste on the Property. Bonower shall be in defnult if any forfeiturc
<br /> action or�Sroceeding,whether civil or criminal, is begun that in Lender's gaod faith judgment could result in forfeiture of the
<br /> Property or othenvise muterially impair the lien crcatec2 by this Security [nstrument or Lender's security interest. Bonower may
<br /> cure such a default and reinstute,as provided in paragraph l8,by causing the action or proceedin�to be dismissed with a ruling
<br /> that, in Lender's good faith Jetermination, precludes forfciture of the Borrower's interest in the Property or other material
<br /> impairment of the lien crcated by this Security Instrument or L.ender's security interest. Borcower shall alto be in defuult if
<br /> Bonower, during the loan application pracess,guve muterially false or inaccurnte information or statements to Lender(or failed
<br /> to provide Lender with any muterial iiiformation)in connection with the loan evidenced by the Notc,including, but not limited
<br /> to, reptesentations concerning Borrower's occupancy of the Property us a principal residence.If this Security Instrument is on a
<br /> Ic:isehold, Borrower shall comply with all the provisions of the le:ise. If Borrower acquires fee title to the Pmperty, the
<br /> leasehold and thc fee title shall not mergc unlcss Lender agrce�to the merger in writing.
<br /> 7.Protection of I.ender's Rlghts in the Pruperty.[f Borrowcr fails to perform thc covcnants and agreements mntained in
<br /> this Security instn►ment, or there is a Iegal procccdinE that may significantly affect Lender's ri�hts in the Pmperty (such as a
<br /> proceeding in bankruptcy,probatc, fi�r condemnation or forfciturc or to enforce laws or regulutiuns), then L.cnder may du and
<br /> pay for whntcvcr is nccessary to prutect thc value of the Property und Lender's rights in thc Propcny. Lender's artions may
<br /> mclude paying xny sums .��cured by a lien which has prionry i�ver this Security instrument, appearing in court, paying
<br /> mncnnahlr attornevc'fee..and enterina an the Propertv to make repairs. Although i.cnJcr may takc action undcr thix puragraph
<br />° 7, Lcndcr das rwt havc t��do.o.
<br />- Any amounts dicbur�ed by Lender under thi. pxra6ruph 7 shull become +idditional Jebt uY Bc�rrowcr scrurrcl by this
<br /> Security Instrument. Unle.s Borrowcr unJ Lcnder agrec to cnhcr trrms uf paymcnt, nc�+c amountx ,hall bcar intcrest from the
<br />- dute of disburs�ment at thr Note rutc and .hall br puyuble. �vith intcrost. upun noticc from Lcndcr lu Burrowcr rcyucsting
<br />= payment.
<br /> 8.Mortgage Insurunce.lf Lender rcyuimd mortguge insurance as a runditiun��f making the la:m s�tiun�J hy thi.Security
<br />- Instrument. 8orrowcr Shall pay thc premium. reyuired tu mnintain thc murtgagr insurancc in effect. if', titt any rcasun, thc
<br />� moRgagc in�urancc covcr,t@.c myuirrci b}• Lcndcr lapscs ur rcasc�to hc in cff�rt, Borru���cr�hall pay thc prrmium. rryuircd t��
<br />= ubtain cov�nge suh�tanti,�lly cquivalcnt tii thc murtgagc inwranrc previourly in ct�fc�t.ut a ru�t tiub�tantiully ryuivulcnt li�tltc
<br />� cost tu Burmwer uf thc mcmgage insurance previeiusly in eft'ect, from an altemutc nwrtgagc intiurcr appruvul by l.endrr. It'
<br />- vooc a o�a Form 3028 8/90
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