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<br />":F :�;, '..: ,. The Funds shali be hetd in an institution whose deposits are insured by a fedefal agency. instrumentality, or eatity �
<br /> `�� . _ (including Lenaer.ef Ixnder is sZ!ch an institution)or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the _
<br /> :. °: .��'`' Fscrow Items.Lender may not charge Bornnwer for holding and applying the Funds.azmual�y analYzing tt►e escrow aceount,or
<br /> ' °'`c,� ,' � ��� verifying the Escrow Items,uniess Lender pays Borrower itrterest on the Funds and appiicable!aw permits Lender to make sash
<br /> � a charge. However,Lender may require Borrower to pay a orte-time charge for an i�ependert real estate tax c�porpng selvice "
<br /> . � �s •� used by L.eader in oonnection with this loan, unless applicable !aw provides othemise. Unless an agreement �s made or ���',�;
<br /> �r'� applicable law Tequises interesc ro be paid, ixnder shall nac be reqwred co pay Borrower any interest or earnings on the Fands. ..
<br /> '` Borrower and I.ender may agree in w:iting.however,that interest shafl be paid on the Funds. leader shall give to Bomower.
<br /> - without chaige,an annual accoanting of thz Funds. showing crediu and debits to the Funds and the parposc for which each
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<br />_ • f��"' ' `'�� debit to the Funds�vas made.The Funds a�piedged as additioaal security for al!sums secured bi tt�is Secumimy Iissuument. --
<br /> `�-�'�: ��'� [f the Fnnds held by Leader exceed the amounts pennitted to be held by applicable law. Lender shall accoum to Borrow'� ,?::
<br /> for t�e eacess Funds in accordance with the requirements of applicable law.If the amount of the Funds held by Lender at�3.° ,<<
<br /> � � �� ��ant safficie�to pay the&serow Items when due.Lender may so aotify Borrower in writing,znd,in such case Sorm�� ., �3
<br /> �"�'y �p.t� ��er tfie amauas necessaq+to make up the de8cieacy. Borrower shall make up the Zeficiency in no ma�c�z� T :�,=�;',
<br /> - r•. ,. :'.:_
<br /> •r, :u^�Y:�°.:�Iy pa�euts.at l.ender's sole discretioa.
<br /> " ``. cpan paymem in ful{of all sums secured by this Security [nsmunent, Lender sttall prompdy refcu►d ta Borrower any
<br /> .� �_'•':.�,, �-: ��s held by Lender.If, under pazagraph 21.Lxnder shall acquize or sell the Prvperty.l-ender,prior to the acquesition or sale �
<br /> • _, - - of the Ptoperty.shall apply any Funds hetd by l.eader at the time of acquis'sdon or sate as a credit against the sums secuted bY
<br /> ' _ this Security I�strument. ' :` �E�'
<br /> �� 3.A�gltcation of Payments.Unless applicahle!aw provides othenvise,all payments received by Lender un,der pata$rapbs .,f
<br />� � �,. • ��"' 1 and 2 shall be applied: fitst, to any prepayment charges due nnder the Note;sernnd.to amounts payable under parugraph 2: :
<br /> ' ' `` third,ta intGrest due:fourth,to principal due:and last.to any tate charges due under the Note.
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<br /> • - A.Charg�;UeaS. Borrower shaU pay all ta�ces.:usetisments,charges, fines and impasitions anributabte to the Property .
<br /> � . a which nu►y attain prioriry ovet tt►is Security Instrume�t.and lea,ehoid paymcnt���r grour.d reats.if any. Borrower shait pay
<br /> , `.�:,�� these obtigations in the rrtarmcr provided in paragraph 2.ar if not pai�i in that mmner, Boaowcr shall pay them on time directly
<br /> ta the person o�ccd payment.Bc�rrower shal!promptly fumish to i.eader all notices uf amounts to be paid under this parngraph. "4 _
<br /> ' If Borrower makes th�e nteats direcU Borrower shall rom tl fumish to L.ender recei is evidencing the payments. '�:' °
<br /> . `.�.,:: PaY Y• P , P Y P � _ _ c.
<br /> � � Borru�ver shall prompily discharge any lien which has pnonty over this Security Inst�ment untess Borrower:(a)agrecs in .
<br /> • writing to the payment of�he obiigation secured by the licn in a m�nner acceptabte to Lender:lb)contests in good faith thc lien
<br /> . -- - by, or defends against enforcemest of the tien in, tegal proceedings wtuch in the Lender's opinion opecatc [o prevent the � _-
<br /> �• " enfonrement of the lien:or(c)secures from the holder of the tien an agreement satisfastory to Lender subardinating the lien w f �'
<br /> ° • ',`,,,:.,` this Security lnstrument. If Lendes determines that any part of the Property is subject to a lien which may aitain priority over
<br /> • . this Security lastrument. Lender may give Borrawer a nonce identifying the lien.Borrower shail satisfy the tien or take oae or _
<br /> more of thc aceios�s set foRh a6ove w�thia 10 days of the giving of notice. � �
<br /> '` ....•� S. Ha�ard or Pcoperty lasarance. Borrower shall keep the improvemenu now existing or hereafter erectesl on the �r�:
<br /> , . l.Y.�':.� Propeny insured agairtst loss by fire,hazards inciuded within the tenn "extended coverage" and any other fia7ards, incIuding ;�;.T
<br /> ftoods or flooding.for which l.ender requires insurartce.This insurance shall be maintained in tt�e amounts and for the periods "r"�•�
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<br /> : 4 that_I.ender requ;res,'fhe iasurance carr[er providiag the insurance shall be chosen hy Borrower su�:;ect to Lendrr s approval ;.,
<br /> � �. which shall not 6e unreasonably withheld. If Borrower fails w maintain coverage describe�abm� E.ender may.at.Lender's �-�;�:
<br /> � `'� o�ttinn,obtain coyerage to protect Lender s aghts in the Propecty in accordance with paragragh 7. = y
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<br /> . �' All insurance policies and renewals shall be acceptable to Lender and shall inclade a standard mortgage clause. Lender �.�,�
<br />_- • �, ., ,�-.,'� s h a l l h a v e t h e ri g h t t o h o t d t h e p o l i c i e s a n d r e n e w a l s.I f L e n d e r r e q u i r e s.Borrower shall prom ptl y g ive to Lertd..°e all receipts of �,,;�
<br /> • p�id premiums and renewal notices. In the event of lo�s,Borrower shall give prompt notice to the insurance carr:�and Lender.
<br /> .��, Lender may make proof of loss if not made prompUy by Borrower. �'��-
<br /> ��'` t1nless l.ender and gorrower otherwise agree m wnting,insurance praceeds shail be apglied to restoration or cepair of the _-_
<br /> � ':;,�%�s , propertyr damsged,if the restoration or repair is economically feasible and Lender's security is not lessened.If the restaradon or ____
<br /> : . . repair is not economically feasible or Lendei s security would be lessened.the insurance procceds shall be applied to the sums � ,-~_
<br /> � secured by this Security Instrument,whether or not then due. with any excess paid to Borrower. If Borrotver abandons the �_-�:�:�>_
<br /> �. ( ,V�v�� Property.or does not answer�vithin 30 days a nodce from Lender that the insurance carrier has offered to se�1�a claim.then �`...�'-
<br /> .,•�.,,; lxnder may collect the insurance proceeds. L.ender may use the pmceeds to repair or restore the Prop:rty or to pay sums �-
<br /> � � , _ °�l,;, secured by this Security Insttument,whetheror not then due.The 30-day period will begin when the norice is given. �'---
<br /> • Unless Lender and Borrower othernise agrec in writing, any application of procceds to principal shall not extend or ".
<br /> .a. ne the due date of the monthly payments referred ta in paragraphs 1 and 2 or change the amount of the payments. If �•`"''
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<br /> ua�er paragraAh 21 the Property is acquired by Ixnder,eorrower s nght to any insarance pol�cies and proceecis resuiting from �
<br /> � � damage to the P�operty prior to the acqu�s�t�on shall pass to Lender to the extent of the sums secured by this Security Instrument €:_.__:-
<br /> � immediatety prios to the acquisrtion. � �.,,_,,.
<br /> ' 6,pccupancy,Preserca�ton, Malntenance and Protectton of the Property;Borrosver s Loan Appllcation;Lease6olds. F
<br /> �`,.:.• :�� '� ''�� Borrower shall occupy,�talsi=sh.and use the Property as Bonower's principal res�dence within sixry days after the execution of
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<br /> . . � this Security Instrument and s�:Jl continue to occupy the Property as Borrower's principal residence for at teast one year after ';,;�=
<br /> ;� the date of accupancy. unless C.ender otherwise agrees in writing.which consent shall not be unreasonably wit��eld,or unless � •�
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<br /> ,.���,.; extenuating circumstances exist which are beyond $orrower's control. Bonower shail not destroy, dam�: or impair the
<br /> ce.
<br /> .;:,,s„+. Property, allow the Property to deteriorate,ar wmmit waste on the Property. Borrower shall be in defauit iF any forfeiture �. '�-
<br /> ' `.°`;i action or proceeding.whether civil or crimi�l. is be�un that in Lender's goocl faith jud�nent oauld result i�forfe�ture of the
<br /> � � Pcopeny or otherwise materially impair the lien created by this Security Instrument or Lender s seauity inten�*_ Bortower may �;:•��
<br />- " '�'.� cBre such a de fau tt an d reinstate.as provi d e d in paragra p h 18,b y causin g the action or proceedin g to be dis�r:iss�3 with a tuling
<br />-' � • '�'';' tnat. in Lender's good faith determination, precludes forfeiture of the Borcower's interest in the PraFerty or other matcria{ � :;
<br /> _ � , ••t.::.
<br /> :'t5� impairment of t.*.e lien crrated by this Securiry Instrument or Lender s security interest. Borrower shall aisa 6e in default if
<br /> '``�:"��`r Borrower.durir.g the loan application pr+�cess,gave materi�lly false or inaccurate information or sttitements to Lender(or failed
<br /> - �''�"_���'� to provide i.snder with any rr�x�erial information)i�connection with the loan evidence�by the i�iote.inciuding, but not Iimlted
<br />- ���'' � to,reptesentations concemirt�Burrower's accupancy uf the Property as a principal residence.lf this Securiry lnxtt'ument is an a ';. :
<br /> � . le�asehold. Borrower shall cumply with all thc provisions of the lease. lf Borro�rer acquires fee tide to the Property. the '. .,,:.:.�
<br />_ � ' �� Icaschold and the fee title shail not merge unlcss Lender agrces to thc merget in writing. .. .
<br /> � 7.Protection o!Lender's Rlgjhts in the Propfrty.if Borrower fails to perfarm the covenanu and agreements contained in
<br /> -� • this Security Instrument. or there is a legal proceeding that may�igniftcantly affect Lendei s rights in the Property(such as a '
<br /> � <• proceeding in bankruptcy,psobate, fnr condemnation or farfeiture nr to enfarce laws or regulatians), then Lender may do and
<br /> � :. � pay for whatevet is neces�ary to protect the valuc of the Propeny vnd Lender's rights in the Property. Lender's actians may
<br />- .. : �nclude paying any sums secured by a lien which has prionty over this 5ecurity lnstrument. appearing in court, paying •;,�
<br /> _� � reasonable attomeys'fces and entering on the Property to malce repairs. Although Lender may take action under this paragraph
<br /> - ' .� . , . 7.l.ender dacs nut have tu do sa.
<br />-_ � � Any amounts ditibutsed by Lcnder under this p�aragrapt� 7 shall becomc additivnal debt ot Borrower securcd by this
<br /> � � Security Instrument. Unless Borc�wer and Lender agrce to other terms of payment. these amounts shall bear interest from the
<br />°- � � ' date of disbursement at the Notc rare and shall bc puyablc. with interest, upon notice from Lendcr to Borrower requesting '
<br /> -- p'eyrttent. �` :
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<br /> . •, ,•:` .' 8. Mortp,age Insurartce.If Lender required mortgage msurancc a5 a wndition of making tUe lum���xur:;�i by this Sccurit}�
<br /> - instrument. �onower shali pay the pmmiums required to maintai�i the mortgage insurance �n effect. if, for any reason. the ' '.;`
<br /> y � m�rtgage in�u:uue covetage required by Lcndct lapses or cpses to be in e f fect. Borrower shali pay the premiums required ao�
<br />-; �' � � obsain coverage substantiaily eyuiv:ilent to the mortgage insurance previ<�usly in effeet,at a cost substantially eyuivalent to the ,
<br /> ; cost to Borrower of the mortgage insurancc previously in effect, from an alternate mortgage insurer approved by Lender. If
<br /> . vaQo 10+a Form 3028 8/90 �
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