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<br /> _ - " < ' � 'i'he Funds shall be hetd in an inriiurtldn wTiose deposits are instuxd 6y a fedeeml agency, mst�um�itY, or entity �.;:-
<br /> _ � ���R-Q`4:
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<br /> ` ,�; ., ` , . (inctudin g l:ender.if Leader is snch an institutton)vr in uny Fe¢eral Home Loan H�k.Leader shalt apply tbe Fumds to�ay the `�.: s
<br /> - n t h e e s c mw aocount.or
<br /> ' . ` : ..r � Fscraw Items.Lendex may ant charge Eosower for ho t d i ng an d a p p ly i n g s h e F a a d s.a n n u a ll Y a n a l S�S _=, --.;
<br /> � verifying the E.icrow•I t e m s,u n l e s s L e a de r p a y s B o r r a w e r intecest an tbe Fnnds and ap�rliwbte laQV pemuts Lenc�er to make s� , . ,
<br /> a charge.Aoeretaer,Lsnder may requite Barrower to pay a ane-tiane cl�az$e for sm ind��estate tax reporting servioe R.
<br /> _f . �,. � used by �nder in¢on�te�tion with t6is 1�. unless aPPlirable laa pmvides othera+ise. IIniess an ag�ert u ayade or � `�F
<br /> ' � , �P_ �� mterest or e�nings o�the Funds. ,� .
<br /> ' hrabte taw inte+rest to be paid.Le�ec shall not be requered to pay Borroweir anyr� S .,.�
<br /> ..�i�Y`��'-cc_:� . .. .
<br /> ` Botr�wer aad Lender may agc�e_i�writingt h nwever.�t h a t iate�e s t s h a t!b e p a i 6 on the Fnnds. I.ead�shall gf�re t°B+ans°wer• 4;�1< .
<br /> '.,• • ` without charge.an anaual c�eo�unting of the Fuads. shawing ctrQits and debits to the Funds a�d the patpase for arhich eadt <��__
<br /> - � debit ta the Funds was.made.'Fhe Funds are piedg�as additionat scxurity fos aU snms se�vred hy th'ss Seauity T�ent• r S" �_
<br /> ` • � �If tlie�unds 8etd by L.eader exceed the ain,oaats permitted to 6e[�etd by applica6le iaw.Leader stialt account�to Bosmwer , y _
<br /> � ,�,}�=�- �� ', for the excess Funds in accordance witl�the cequitements of appficable law. If the amount af tHt Fands�etd isy Lender at en}► , r
<br /> ,� ` time is not sufficiem to pay the}scqow Items wheas due,Lender may so notify Bomower in writing,and,jn sac]►case Bomiwer '�°,�'
<br /> i� ��
<br /> •� •±'� shall p a y to 4znder the aueount u�ssafY to make u�the deficienc;r. Borroaxr shall make up the defic�eacy in no more than t F t�
<br /> .. 7�n oo twslve monthlY P$Yments.at Lettder's svte discr�ibn. s
<br />`__���`:� •�.� iTpon payment in fuft of all sums s�red bY this Security Instntment.Lender shall promptiy refi�nd to Bosro�ver aay s
<br /> �unds hetd,by I.ender.if,ander paragtaph 2l.Leuder sfiall acquu+�or 5eli the Property.Ixnder,pnor co the acquisition or sate• � -
<br /> 'E t � - ."' � -
<br /> , . � of the Pro�ertY,shall aPPty any Funds l�elc!by Lender at the time.of acquisitioa or sale as a credit against the sums secvred by �
<br /> G :` dlis SCCtuity ItlstrumealL .
<br /> 1��f 3. ltcaiEnn og Aaymeats.UnIess applicable�aw provides utherwise.�II payments receivecl by Lender eader paragraphs '
<br /> � �4�t��fi�l ha annlie�l:first.to anv PreaaYmem charges due under the Note;secpnd,w amounts payable uader�atagraPh Z* �.
<br /> � ( , third,w interest due:fowtb.to principal due�and Iast,.w any tate cnargc5 dae u�c ii�c��. �. _
<br /> � ► � •� q.Charges;I.ieas.Borrower shall pay ali taxes,assess�nts.chazges. fines and impositions amibutable ta tIt��rripenY r
<br />'; �'' wluch may attain priority over this Security Insuumem, and leaset►old payments or grouad rents, if any.Bonoaier shaSt pay. ,�,` ___
<br /> f : �.';�, these abligations in the[uanner pmvided in P�S�P�2,os if nat paid in that a�anner.Borrower shal!pay thetn oa time directt� . -.;
<br /> � � • 4`, ` .<h; to tiae gerson owed payment.Sorrower sf�li promptlY fussrish t°I.ender a11 n°uces of amounts to be paid under this paragraph.., ,- ,•�..;
<br /> r' ;:�r ` `• `�; If�orrawer makes these paymems directly,Borcower shali pramptly fumish to I,endei reaeipts evideacing the�►yments• -
<br /> r`��._; :r;�. � Bc�rrower siiall pmcngtty disc6arge 8ny tien which has pnority over this Securiry Insirumem uWess Borrawer:fa)aBTees in u
<br />�x !'7'4' '' to the Payment of t?�e obtigation s�by the lien in a mat►ner acceptable to I�dzx:{b)oantests in ga°d faith the lien � -:
<br /> s '�.;s , . b�y�o�defends agamst enfarcement of the lien in. lega! proceedings whicb in the Lehder's apinion operats to prevent tIte , `. :_
<br /> ��` `= • _ ,�.,��i. . eaforccuoeut of the lien;or(�)secures from the holder of the lien an agreement satisfactary to Lender.subordinating the lien ta . ,,:�:
<br /> • `•,'' thi.s Securiry h�snum�t.If I.e�der determines t h a t any part o f t fle P rope m y i s s a b j e c t 3 o a li e n whict�ma y.attain pnoritjr over. .: .. .
<br /> ' ^`�� <; this gecurity Inswment,I,ender may give Borrower a.notice identifying the lien•Borrower shal!satisfy the liea or taYe one or +�yi
<br /> ' " ;; mdTe of the actions set forth abave withia•IQ days of the giving of notic� . , �� __:•:
<br />' • . '4 5. �� or �perty Insm�nce. Borrowe;shall keep the improvements now existin8 or hereafter erected on the ._—
<br /> �` .:�. `'' ..(;;i �_-�
<br /> '::�; T Froperty insured against loss by fire. ha7ards included witlun the term"extended coverage° and any other hazards,inc[uding
<br /> � ��� �` tinnds or flooding,for which Lender reqnir�s insurance.'Phis iasoran�e s�aU be maintained ia the amounu and for t6e periods �. �':•�}>°
<br /> , '�41� .
<br /> �� ^� ,;s� tlia�t.Lender requires. The insurance carrier providing the insurarrce shall be chnsen by Borrawer subject to I.ender's appmval �� "'
<br /> N-::,` ��' • - which shali not 6e u�lrr�conabty withhetd. If Borrower fails to maintaiu coverage desen'bed above, Lender may, at Lender's . �-.;'-"-
<br /> ' �,.u.-: .
<br />.�=.�: :',:3, �.'�:��: ,�'° optian,obtain coverage w protect Lender's rights in the Property in arcordance with P�B�Ph 7. • _.
<br /> �::'_ 1: `;�>r:' :�,• ''.s= All insurante PolcMes and.renewals shall be acceptable to I:ender and shal!incIude a standaz6 mortgage ctause. l.ender .
<br /> �, ; ." °: •'�`� � "' sAall have the right to Bold the policies and renewats.If Lender requires,Bonower shall promptly give to Lender all receipta of __ _ -
<br /> �:, ;',.� paid premiums aad renewai no6ces.In ihe event of loss.Borrower shail give prompt notIce to the u�suxance cacrier aad Lendes.., --
<br /> - � ` Lender may make praof of toss if n»t made promptly by Bonower. ---
<br /> �s " • � �•� lJnless Lender and Borrower otherwise agree m wnung.insurance pracceds shall be applied to restoration or repair of the __
<br /> �` • ,�' ' �`• •',`•: ` property damaged.if the restoratian ar rep�ir is economically feasibte and Lender's securiry is not IesseaP„d.ig the rzstoration or m-
<br /> • . `i..'•�:{
<br /> �. �� � `. � .� �� repair is aot economically feasi6te or�l.ender's security would be less�ned. the insurance proc�ceds sha13 be applicd to s sums . .�
<br /> 3��, • � ; -_ -
<br /> _�. "_;t secured by this Security Instrument, whether or nat then due. with any excess paid to Borrower_ �f Bamawer abandons the u�-
<br /> .�; '. . ' Pc+apercy,or does noE answer within 30 daya a notice from Lender that the insurance carrler has offered to settle a clairn,t1ie� � �,'�.
<br /> ' ' . � Lender aray collect the insnrance Pruceeds• Leader may use the proceeds ro repsir or restore the Praperty or to pay sums r•_
<br /> ' " ,•� secured by this Secnrity Instrument,whether ot not then due.The 30-day period w111 begin when the notice is given. -
<br /> 1�;�;T'_.. _ _.. Itcation of roceeds ta principal shall not ett3enQ or � .z
<br /> �::, :T.-;:;��;,:� Untess Lender ami Borrowe� otherwise agrec in �vriting, any aPA P �—
<br /> .�vs �. ;, . r.�,.:
<br /> .:_;-: . , , postpone t6e due date of the monthly payments rcferred to in paragraPhs 1 and 2 or change the amount of thc payrn�hts. If �
<br /> ��' ':'` ` � ��- under para�raph 2i the Property is acqu�red by Lender. Borrower's right to any insurance policies and proceeds resulun�from ___
<br /> �sd. .. • ;i�: . -
<br /> , :�; damage to the Prapesty prior ta the acquisition shall pass to Lender to the extent of the sums secured 8y shis Securiry Instrament _
<br /> �:'_ ' . �j... . immediatety paor to the acquisition. Leaseholrls. `
<br /> " --� ;.�; 6.OccupancY,Yreservattan,�iaintenu�ace�ud P'rate:.tloa af t'�:.Prag;rl3;Bflrssnwes's Loan Appltcation;
<br /> :�=:;='-�
<br /> �: .� .��';-= �orrower shall occupy,establish,and use the Properry as 8orrower's princtpal residence within si�ty days after the execatioa of ___
<br /> �� • this S�curity Insirument and shall continue�o occupy the Ptoperty as Borrower's yrincipal residence far at least one year after «�;-
<br />,�:;�� ., �
<br /> i� „ ' • � , the date aF occupancy.untess Lender otherwise agrees in writin�.which consent shall aat 6e unreasonably withheld.or unless � '.
<br /> � � ��" • eatenuating circumstances exist which are beyond Borrower's controL Bonower shalt not dest�oy. damage or impair the � �.
<br /> '•��� • ,� .�� Property,aUow thc Property to deteriorate,or commit waste on the Property. Borrawer shall be in detault�f any forfeiture �-
<br />�f`� � • �•; action or proceeding,whether civil or criminal. is begun thut in Lendei s good faith judgment could result in forfeiture of►he p�--
<br /> ��� �� ` � f• Praperty or othenvise materially impair the lien created by this Security Instmment or Lsnder's securiry interest. Borrowee muy �._ .,_;
<br /> �-?•: � „�,' � �� cure such a default and reinstate.as provided in paragraph 18.by causing thc action or proceeding to be dismissed wlth a ruling �.'. .
<br /> i���`�; . � that, in Lender's goad faith dctcrmination, precludes forfeiwrc of the Bonower's interest in the Property or other material � __
<br /> -.. • " ' ''.i` impairment o f t 8e lien crca t c d b y t h i s S e c u ri ry l n s t r u m e n t o r L e n d e r's s e c uri ty interest. Banower shall also be in d�fault if
<br /> 3 Bonower.durin�the loan appliration pro�cess,gave matetial�y false or inaccurate information or statements to Lender(or faited __
<br /> ::e � � ' �� �'_.'_�.� . .
<br /> ::; .. to provide l.ender with any material information) �n connection with the luan evidenced by the Note.inctuding, but not limited
<br />;�•;:.. to.representations concernmg Bonowei s occupaney of the Property as a principal residen� If this Security Instrumepn�on a
<br /> �; ..; , leasehold. Bonower shall comply with all the provisians of the tease. It Borrower a ires fee titte to the Pro e the
<br /> '..: . � ' � � leasehold and thc fec title shall not merge unless Lender agrees to the merger in writing.
<br /> ��.�. . . � ,; 7:Proteetion of Lender's Rip,hts in the Pruperty.If Borrowes fails to perform the cavenaats and agreemenu containec!in
<br /> this Security lnstrument. or there is a legal proceeding that may significandy affect Lender's rights in the Property(such as a
<br /> proceeding in bankruptcy,probate, for condemnation or forfeiture or to enforce laws or regulations),then Lendcr may do and .
<br /> �.��� �t, ..� �; pay fur whatever is necessary to protect the value of the Property and Lender's rights in the Praperty. Lendei s actions may �•,
<br /> • i n c l ude pa yin g an y sums securecl by a lien which has priority uver this 5ecuriry lnstrument. appearing in court. paying
<br /> ' reasonable attomeys•'fees and entering on the Pr�perty to m�ke repairs. A lt houg h L en de r m a y i f il c e a c t i o n u n d e r t h i s p ar a g r a p h �._�
<br /> - � �� 7,Lcnder docs not have ta do so.
<br /> � : Any �smounts disbursed by l.ender under this paragr�ph 7 shaU hecame udditional debt uf Borrower secured by this
<br /> �� date �f d sbur ement at t hc Note ra edand hall bc pay blc 1hw'th in e estP uponnnv icecfr m�Lcndcr ft bBorrower�r questing
<br /> >�.` . . ,
<br />:'_ ��' : � � . . paymcnt.
<br />• . • 8.MartgaAe Insunutce. If l.�nder requirai mort�ge insurance as a condition��f ineking the loan secured by this 5ecurity
<br /> "'''�` . Instrumcnt. �orcnwer chall pvy the premiumc reyuireci to maintain thc mortgage insurance in effect. If, for any reason, the
<br /> ,�... . �. . .
<br /> � .. ' • mortgage i»surancc cnvcragc reyuired by Lcnder lapses or cea�es to be in effe�:t.Borrowcr shall pay the premiums requitecl to
<br />_ • � . nbtain rnverage substantially equlvalent tv the mortgage insurance previously in effec�,at a cost substantially equivalent to the
<br /> cost to Bonnwer oi the mortgage insurance previou�ly in e(fect. from an altemate m��rtgage insurer approvul by Lender. If
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