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<br /> Ti►G Furxia shall be hefd in an instiwtia� whnse deposits an insural by a faieral agency,-inrtrunkj�to�`���i'ty
<br /> (includin�L,erxler, if L.enJer is such un institudon)or In any Federal Hunx L,oun sunk, l.ender shull •rnnly�he Funcis to puy thc
<br /> Escrow Item4. Lender rn�y nut charge Horrower for halding arxi applying the Funds, unnuully unulyzing the escrow uccount,ur
<br /> verifying the Escrow It�ms. unless L,ender pays Hc�rrower intercst on the Fu►xis aixi applicuble law�rrmits�.ender to mak�such
<br /> a cha�ge. However.Lender nwy rcquiro�rn�wer to pay e one-time charge fnr an inclepencicnt rcal cstate�ux reponing scrvice
<br /> useci by Lender in connection with this loan, unless applicable Iaw prmidcs otherwisc. Unle�s un ugreen�ent is made or
<br /> applicable Irw requires intcrcst to bc paid,lxi�der shall rx�be requirecl to pay&�rrower any interest or curnings on the Fu�xls.
<br /> Horrow�cr end [.ender rn�y ugrec in writing, however, thal interest shull be paid an the FunJs. Lendcr shall givc to Borrowcr,
<br /> without chuge,on onnwl accuunting oi'the Fu�tids, showing crcdits and debits to the Fu�uis anci �he pur�xiu� f�r which rbch
<br /> debit to the Furds w�s rnde.The Funds are pl�igod as additi�nal security for all sums securecl hy this Seeurity)nstrument.
<br /> If tFte Furds held by[..eixler exceed the umounts permittal W ba held by applicable law,l.etxler shall uccount to Borrower
<br /> for the exeess Funds iR xcondance with the rcquirements of applicable law. If the arm�unt of the Fuixls held hy i.encler at any
<br /> time is not sufficimtto py tt�F.scrow Items when due, Lernler may so notify Borrower in writing,and, in such case Born�wer
<br /> shall p�y to L.e�xler th� anwunt �xcessary ta make up the deficiency. Borrower shall make up the deficiency in no more than
<br /> twelve tiwx�ly payments,at I.ender's sole discretion,
<br /> Upon payment in tull of all sums securai by this Security Instrument, Lender shall promptly refund to Borrower any
<br /> Funds held by l,mder. 1f,urder paragraph 21,Lender chall acquire or sell the Property.Lender, prior to tlie ucquisition or salc
<br /> of tha Pmperty,shall apply any Furds held by l.ender at the time of acquisition or�ale us a credit;�gainst the sums securt.*d by
<br /> this Security Instrurncnt.
<br /> 3.Appliplbn o�Ryments.Unless applicable law provides otherwise,all payments recciveci hs••L,e�xler under Ewragraphs
<br /> l arxl 2 shall be appliecf:first,to any prepayn�ent charges due under the Nnte; socond, to anbunts payable wxler parugraph 2;
<br /> third,to inttrest due;founh, to principal due;anci last,to any lato charges due under the Notc.
<br /> 4.Clu�rges; Llens.E3onower sh�ll pay nll taxes,as�esytnents, charFcs, finrs and imp�sitions attribut�blc to thr.Pr���x�ny
<br /> , which m.zy attain priority over this Security Instrument, and lensc+hold payments ar ground rents, if any. Barrower shall p;►y
<br /> thesc obligations in the rn�nrxr provided in paragraph 2, ar if not.paid in that manner, Borcow�r shall puy them on time direclly
<br /> to the person owed payrnent. Born�wer shall promptly furnish to l.ender all notices of amounts to be paid umler this paragraph.
<br /> If Borrower makes these paynxnts directly,Borcower shall pr��mp�ly furnish to Lender receipts evidencing ahe payments.
<br /> ,' , Borrower shal!promptly discherge any lien which has priority over this Security(nstrument unlcss Bormwer. (a)agroes in
<br /> writing to the peyment af the obligation secured by thc lien in a�nAnner acc�eptable to l.ender;(b)contests in gc�oct faith the lien
<br /> by, or defends against niforcement nf' the lien in, legal proceedings w•hich in the Lender's opinion operate to prevent the
<br /> enforcement of the litn; or(c)secures from the holder of the lien an agreement satisfactory to Cxnder subordinating the lien to
<br /> this Security Insuurnerit.If Lender determines that any pan of tlx;Property is subjat to a lien which muy attain priority over
<br />• this Socuriry Instrurnrnt.Lender may give Borrower a notice idcntifying the lien. Borrower shall satisfy thc lien or take one or
<br /> ' ' morc of the actions sel fonh abnve w�thin 10 days of the giving of notice.
<br /> S. �rd or Property insurance. Borrower shall keep the improvements row existing or hereafter erecteci on the
<br /> Property insurod against loss hy C�e, hazards includai wlfhin the terrn "extendecl coveraRe" and anv ather hs�ards. includino
<br /> , eoods or eooding, for which I.ender reyuires insurance. This insurance shall be maintainod in the amnunts and for the peniods
<br /> � . that Lender requircs.The insurance carrier providing the insurance shall be chosen by Borrower xubjeu to C.ender's approval ,
<br /> ` which shall not be unreasonably withheld. If Borrawer fails to maiotain coveragc describeci abovc, Lender may, at Lender's . •
<br /> • option,,obUun covcrage to protxt Lender's rights in the Property in accordance with pxragraph 7.
<br /> 'A11 ansurance policies and renewals shall be accepta6le to Leider and shall include a standard mi�rtgege clause. i.ender
<br /> ahall hav�the right to hold the Qolicies and renewals. if L.ender•reyuircs, Borrower shall pro�syxly give ta Lencier n!I necei,pts oP
<br /> p4id premiwns and uene:wd ratices.In the event of loss, Borrowor shall givc prompt notice to the insu�ncc carrier and Uender.
<br /> Lender rtuy make pr�wf of loss if not made prompUy by Borcower.
<br /> llnless Lender and Borrower otherwise agree in writing, insurance proceads stwll be applial to restoration or rep�ir of the
<br /> Property danwged. if the restoration or rcpnir is economically fe}►sible and l.encler's security is not lessened.If the restor�tan or � �
<br /> repRir is na ocoriomically feasible or L.ender's xcurity would t►�lessened.the insurance praceeds sFwll be Appliaf to the sums
<br /> securcd hy this Security Insttument, whether or r►c>t then due, with any exctss paid to BoTrower. If Bomower abardons tIK
<br /> Prvperty, or doa not u�awer within 30 days a notice from Lender that the insurance carcier has offersd.to settle a clvm, tlxn
<br /> • ' Leixle� may oollect the insurynce procoeds. I.ender may use thc pmceeds to rcpair or restuie the Prapeny or to psry sums .
<br /> , � ", securod by this Security 7nurument,whetlxr or not then due.The 30-day period will begin wlxn the tx►fice is given.
<br /> , Ut�less L.ender u�d Bnrrow�r otherwise, ogree in writin�, any rpplication of proceeds to prir�ippl.slNll not extend or
<br /> postpnne 1he due dute of the monthly payments referrai to in paragraphs 1 and 2 or chengc the wr*iuht af the pyyiiicotis. If
<br /> under p'r�ragrnph 21 the Property is acquircd by Lencier, BorrowePs right to any insurance pc>lic+rs auid.prcxroods resulting from
<br /> drmage tu the Property prior to the acquisition shall pass to I.ender to the extent of the sums serlirrd,by this Security inswrnent �
<br /> immediately priot tc�the acquisition. •
<br /> 6. Oocupancy, P�serrwNon, Malnten�nce ond Protdction of ti�e PropertY;Borrower's Lc►�n ApplicAtion; Le�seholds.
<br /> Borrower shdl oocupy;'esublixh, and use the Property as Borrowtr's principal residence wittxip sixty days after the exxution of
<br /> this Security Instrument and sh�ll oontinuc to occupy the Property as Borrower's principxl residence for at leaat one yeu afur
<br /> the date of cecuprncy,unless Letxler aherwise agrces in writing, which consent shall not be unreasonably withheld,or unle.vs
<br /> eztrnurting cir+cumstu�ces exist which s�rc beyond Borrower's control. Borrower si►all not destmy, dAm�ge or imp�ir the
<br /> ,' Property, sllow the Propcny to deteriornte, or commit waste un the Aroperty. Borrower shall be in default if any forfeiture �
<br /> action or proceeding,whaher civil or criminal, is t�egun that in L.ender's go�d fai[h judgment could result in forfeiture of the �
<br /> Pmperty or otherwise materially impair the lien created by this$ecuriry Instrument or Lencler's security interest. Bomower may
<br /> cur�uu:h a default and rcinstate,as providal in paragraph 18,6y'causing the action or procecding to be dismisxd with a ruling
<br /> tha[.;i�i l:ender's 6oal faith detcrmination, procludes forfeiturc of the �orrower's interest in thc Property or other material
<br /> impa�m�r.nt of the lien created by this Security instrument or L.ender's security interest. Be�rrower shell also be in default if
<br /> Borrower, duri ng the loan�pplicaeion process,gave materially false or inaocurate information or statements to L.ender(or failed
<br /> to provide Lender wi�h any nu�terial inforniation)in connection with the loan evidenoed by tFx Note, including,but r►ol limitad
<br /> to, rcpresentMions concrrning Borrower's occupancy of the Property ss a principal�e.gidence. (f this Security Instrurtxnt is on a
<br /> la►sehold, Borrower shall c�mply with all [he provisions of the lease. If Bom�wer acquires foe tit!e to the Property, the
<br /> Ieasehold and the fee title shall not merge unless Lencler•rgrccs to thc mergcr in writing.
<br /> 7.Protertiun ot I,ender's Riqhts in the Pn�perty.If Borrower fail�to perform the coven�nts and agrcements contained in
<br /> this Security Instrurrxnt, ur rhere is a Iegal pr�ceJing thut ma�� signific�ntly afPect l.ender'�rights in the Hroperty (such as Y
<br /> proceeding in bankruptcy,probate, for co�xlemn�tion or forfeiture or to enfuree laws or regul.itions), then LenJer mxy do and
<br /> pay for whatever is neces�ary to protect the v�lue of the Proixrtv a�x1 Lencfer's rieh�� in the Pro�� I„�,a„�t.,,,�e���� .,,o.,
<br /> include puying any sums securai by a licn which has priority over this Security Instrument.�appc•rring in court, paying -
<br /> rca.wnable attorrxys'fees and entering un the Property to make ropairs. Although l.ender may take xtion undcr this paragraph
<br /> 7,Lendcr does rxx have todo so.
<br /> Any amounts disbursod by Lender under this parugrnph 7 shall beconx� :►cJditional dcbt uf Burrower secured�by this •
<br /> Security instrument. Unlass Borrower arxl Lender agn�c to olhcr terms of payment, these am�wnts shall t►car intcrc.at I'rom the
<br /> Jate of disbursemen3 ot ihe Note rate arxl shall be payable, with interest, upon notice frorn I.e�xicr tu Borcc�wcr rcqucsting
<br /> p�yment.
<br /> S.Mortrsge Insu�nee.If L,ender requiral nx►rtgrgc insurance:►s a condition of r.�al;in�e thc Ieun secured by�hic Security
<br /> Instrument, Horrower shall pay thc prcmiums required to maintain thc mortgage insurwxe in cffect. If, for any rcason, ths
<br /> nwrtgagc insuranrc coverage required by Lcnder IAp.ties or aasts to be i��cffcct, [iorrower shall pay thc premiums requircJ to
<br /> obtrin cuverage substantially equivalent to the mortgage insurance previously in effect, at a co�t substantially cquivalent to the
<br /> cost to Bonower of the rnongage insurance previ�usly in effect, from an alterrwte martgage insurcr approval by L.ender. if
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