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<br /> Thc Funds shall be held in �7 inytitu[ion �vhose deposiu are iruured by a fecieral agency. instrumentalin•. or entity 4
<br /> t includin�Lender.if Lender is such:�i in�titution)ur in any Federal Home I.aan Bank. l.ender shall appiy the Fund�to pay the .
<br /> E,crow ltems. Lender may no1 charge Borrouer for holdin€and appl}�ittg the Funds,anni►ally an�ilyzing the e.tirrow account,ur '•'�_
<br /> . �crifying the E.,.ro�v Item�,unle��Lender pay+&�rrower interest on the Funds and applir.�ble lan•permits Lxnder tu make such 7.
<br /> � � charge.Huue�•er. Lender may r��yuire Borrov+�er tu pay a on:-time charge for:u�independent n;al e+tate tax reporting service
<br /> u+ed hy L�.�der in runnection �cith [his lnan, unic�+ applirable taw provides othenvise. Unleti. an agreement i, made or _
<br /> � � ;spplicable laa�rcyuir�•.intcretit to 6e pa+J. Lert�ier.hall not be required to pay Bono�cer any intere.t or eamings on the Funds. -
<br /> Bumnver ar,d Lender may� agrc�e in«riting.ha�•e�•er, that interest�hall be paid on the Futtds. I.ender yhall si�•e to Borrower.
<br /> � �L•ithuut charce, an annu�l arcaunling o1 the Fund�. +ho�ving cre�iits and debits to the Funds and thc purpose for�Lhich eaeh
<br /> debit ta the Fun,f.«a.made•The Fund�:ue pieai�ed ati additian:il security for all sums secured 6y thi,Security Instrument. �:_
<br /> ' � If tbc Fund.helJ by L.ender ecreeJ thc amount�permitted tu be held by applicable taw�. Lender.hall ac�ount to Borrower
<br /> - = fi+r tl�e excet+Fund, in accordance+��ith the requimmcnts of applicahle la�v. If the amount of thc FunJs held by Lcndcr at any
<br /> ' ;Q.-v-''' tinu i.not sufticient to pay che Escro��•Items when due,Lender may tio notif}•Borrov�er in writing,and.in�uch ca�e Borrower
<br /> ,_,F. �.�# , ,hall pay tu Lertder the am�unt necessary W mal:e up the deficiency. Borrou•er shail make up the deficiency in no more than ;:'
<br /> � e�el��e monthly paymenu,at l.ender's tule discretion.
<br /> , Upon payment in fuil of all sums secured b this Securi Inswment. Lender .hall pramptl�� refund to Borroa�er any �:�
<br /> Fund+held by Lender.If,vnder paragmpfi 21. i.ender shall acquir�e ur seti the Pmperty.Lender,pnor to[he acquisition ur sale -°-_
<br /> _ ��1'the Propeny,shail apply any Fund.held by Lender ut the time af acquisition vr srle:u a credit again�t the sums�ecure�d by __
<br /> this Securiry Ins.*rument. -
<br /> ' 3.Appltqtton�f Paymen�s.L'nleti�applicable laa pro�•ides otherw�ise.all psymcnt+r�.�+:eiced by Lcnder uttder paragr�r`..=
<br /> t and 2�hall be aQplied: �int,tu an�.p:epayment�harg�� due under the Note: �eamd.to amuunt� payable under pararraph�:
<br /> third.to intere�t duc: founh.to pnncipal Jue.a�i�lazt,tu:uiy isiz�tt�rg�s due undcr tt�c tiotc.
<br /> -�_. _ ._ _. � 4,���L€Cns,$ntro+ver shal! pa4 a1! [axet, a�.ti�ments. charges. fines and impositions attributable to the Prop�i}
<br /> ahich ma}� attain prioriiy over this Securit� Instrument, anll leasehald paymen�s or around renGS, if any. Borrower shail �a�
<br /> ;� the+e ohligations in the manner prn�•ided in paragraph�,or if not paid in that manner. Borrower sh211 pay them on time directl,
<br /> = to the penoc►owed payment. Borro�ti•er shall pmmptly fumish[o[.ender all notices of amounts to be paid under this paragr.�h.
<br />: t��". '� If Borro�oer makes these paym:nt�ti directly.Bormwer sha31 promptly iumish to Lender receipis ecid:r;cing the[���•'nenu.
<br /> g� Bc�rcower ahall promptl}discharge any lien which I?L�prioriry ocer thi�Securi*.y Jrn xument�r,less Borrcn.•X:Ial agrees in _
<br /> '- � ' 3� H riting to the pa}ment of the obligatinn�ecured by the li�in a m�nner accepta6le tu Ixnder;f b)�_-cests in gond faith the lien _
<br /> � by, or defends against enfi�rcem�nt of the lien in, legal proceeclings v hich in the Lender's �<<r�on operate to prevent she e
<br /> �' ' enforcement of the lien;or Ic1�ecure�Crum the holder of the lien an sgreement sausfactory to[.ender subordinating the li�n t�. W
<br /> � this Security Instrument. If Lender determines that any parc of the Propeny is suhject to a lien which may attar.priority 0►-'3' _
<br /> tliis Security Im�rument.Lender may give Bnsrou�er a ar:ice identif}�ing the lien. Borrower sha11 satisfy the liei�:r cake onc or �_
<br /> ---••- - more of the actiom tiet forth abuve tvithin 10 days uf thc giving of notice. �-
<br /> � r� 5. Hazard or Property Insurance. Bonower shall keep the improvemen�+ now existing or hereafter erected on the -
<br /> � Property in.sured against loss by fire, hazard.+ included within the term"extended cuvecage" and:u�y other halard�. including
<br /> flooda or flooding. for w•hich Lender requireti insurance. This insurnnce shall be maintained in the amoun�s and for the periods
<br /> � that Lender requires. The in�urance carrier providing the insurance �hall be chosen by Borrower subject to Lender's approval
<br /> .,;, wfiich tihall nat be unrea�vn.�'�� withheld. If Bottoatir fails to maint�in coveca_:•.;=:-�cribed above. Lender may. at Lender's
<br /> •�� , ` nption,obtain coverage to�n�:a�.Lender's rights in the i�operty in accurdance«:_�tt:��.ragraph 7•
<br /> • . � All imurance policies.��L renewals tihall b�.acceF�°_�1e to Lender and shatl :_�lude a standard mongage:.�use. Lender
<br /> shall have thz risht to hold t;��palicic�and renewalti. If L.�:ndcr r.;:,:;:•. Borrower shaQ promptly give to Lender all recei�s's cf
<br /> ' ' ' ' gaid premiur.-�.ui d rene�o�al notice+.In the event of lotis.Bort��<<r��:.-3 give prnmpt notice to the msurance carrier and l�r'_.�.
<br /> _ .:_�: � L,:^der may make proof of 1.us it'not made promp[ly b��`3:Rower.
<br /> --,��z�:•-��:�„ Unless L.ender and @rrn�wer otherwitie agree m�•T"'�.n8. imurance proceeds���J 1 be applied to restoratie7 tr.^tpair of the
<br /> '+_�" 1T+��perty damaged.if the��:T•�ration or r�pair i�economically fra.�ible and Lender's;ccurity is not lessened. If�'�:r.�storaCson or
<br /> "�'`'? repair�s not economir.�lly� :.xi.tiible��r Lendcr'S �ecurity w•ould be l�w�ened. the in,urance proceeds shall be a�r'::;�::to the sums
<br /> ''= i �•`,X ;ecured by this Securiry Instrum:nt, ahether or not then due. with any excess paid to Borrourr. If Borro��er abandons lhe
<br /> _ � �y, Property, or does not an��ti•cr within 30 day+a notice fr�m Lender that the insurance rarrier has�f�:red to +ettle a claim.then
<br /> __ -:-_�xy�, Lender may eollect Qie i��<.;ranc� proceedti. L.ender may u�e the proceeds to repair or restore t::. Property ar to pay sums
<br /> �± `�; �:cured by this Security fr.Nnim�nt,whether or not then due.The 30-ilay period wi!i~egin when the notice es����en.
<br /> ._s.=:�•�s�r,�
<br /> _n-.�,a,� Unless l.endcr a d G�:rcower otherwitie agree in writing. any appl►cation c� ,,roceeds to principal �L'�1.�. ?►ot exten or
<br /> ----�-=�� postpone the�{'S0 d3IC 6'r::::monthly payments referr�d to in paragraphs 1 and��:'change the amount cf•��:payments. If
<br /> � ,,,�� under paratrs,:l�2l the Property iti acquired by Lcnder. Bortower'4 rr�i-:to any i:a�.:ance polici�,and procea:s resultin3 fn�.�n
<br /> s �'`-- clamaae to d-�c�roperty prior to the acqui�,itian shall pasc to l.end��r��:'J'.sx'en:ef*he sums ser���s_'hy tfiis Security Instrur.:�..�i
<br /> --` j•-�'�-a iir.mediately pnor to the acquisition.
<br /> •=yY�'�" 6.Occupancy.Preservatton.A9aintenartce pnd C�'��{�..�tian of the Pr�pec:>=G�TTO«•er's Laan aipple�l�r�n;l.easeholds.
<br /> � "'`�� Dorrower shaU occupy.etitablish,and use the Property w�3orrower's principal n.�::c�nce within sixty days�ii�.r-�.ie execution of
<br /> '.::y�'�=`'�v
<br /> Y,y 3�:r.;.`_ this Security Instn�ment and shafl cantinue to occupy the Prnpeny as Bonower'ti principal residence for a� I�;;c.t one year a ter
<br /> the date of accupancy.unlesti Lender c�thcnvitie agreey in writing, wh�ch consent shall not be ur.�ezsonably er�thheld,ar unl�;s
<br /> --- � � extenuating circumtitances exist tivhich are beyond Borrower's contml. Borrower �hall not 6c.,i.-oy. damage or impair the
<br /> ---='""=`�•>� �*operty. allow tfic Propen�� to detcriorate. �r rnmmit waste on the Property. G•---�ower shall L:in defc:�lt if any forfeiture
<br /> „`=�.•�-. '�
<br /> -M=_==,__3.r,� ;u:tion ar pruceeding.whether civil or criminal,is begun that in Lender's gaod t:��i.;•;�dgment could resuEs u: forfeiture of the
<br /> ''�"'�'��"� Propeny or othenvise materially impair the lieo created by this Sec:urity Instrurr:_r�cr'Lender's tiecurity int�:::i. Bonower may
<br /> - -,.,;�,."� cure such a default:u�d reinstate,as prrnided in para;raph 18,by causing the acr.c:or praceeding to be di>.r��:::+�with a ruling
<br /> -_ _ '�y��: that, in C.erder's good faith determination, precludes fode�Wre of:�~e Barcoivcr'ti interest in the Propercy nr othzr material
<br /> '+.`�':
<br /> t_ . impairment �3f�:�e lien cre�ated by thiti Security In�trument or 1�-�:i:z'� security interest. Borrower shall allo be in default if
<br /> ' Borrower,d4nng the Inan application process.gave mat_rially fa:�:^::e inaccumte infonnatian or statements ro l.ender(or failed
<br /> _ � • '� '' to provide L.cnder with an�•matcrial informatior.l tn.�_r,�.ixtion with tht loan e�:.:.r.�:eJ by the Note.includii;i.but not limited
<br /> =�'• tu.mpretentationr conceming Burn+wer'�occupa�tcy c'����:Ptaperty as a princip•�rr_�idence.lf this S�curity Irstrument is on a
<br /> - • leasehold. Borrower shall cumply with all the prwi.�•�ns of th_ tease. If Bo:ru:rer acyuires fee tide tu ai�e Property, the
<br /> ; .. , ',�- Icaschold and the fce utle Shall nnt mergc untess Lender agra�to c���.�:rger in�vriting.
<br /> If Borrowe�fails to erform the covenants and agreements contained in
<br /> 7.Praiectton af I.ender'�RightS in ths Proper3y. P
<br /> �' this Sa:urity instrument. or there is a legal proceedin�that may significantly affect Lender's righu in the Property(such ati a
<br /> " '' procccding in bankruptcy.prob3tc, for condemnation nr forfciture or to enforcc lawti or rcgulations).thcn Lender may do and
<br /> : ;��'�' pay for «�hatever is necetitiury to protect the value of the Property artd Lender's ri;hts in the Property. L.ender's actions may
<br /> in�lude pay�ing any� wms +ecureci by a lien which has prioriry over this 5ccurity ImtrumenY. appearing in court. payin�
<br /> • ; � s. r��a«�nablc attorrrey�fcc�and entering an�he Pn�perty to make repairs. Although Lendcr may take uction under this paragraph
<br /> 7,L.cndcr dicrs nnl havc ti�do�o.
<br /> � Any amoants Ji.hursed h� I.ender un�l.r this paragraph 7 tihall bccame additional debt u( Borrower srcured by this
<br /> ' datc of di�bu ement at'th: h�c��r�e�a d hall he payeble.thunh nteretitp pan noi ceefromuLcnder m�8onow•ersreyuestin�
<br /> .; ' paymcnt.
<br /> - ' 8. �fort�a�e Inzarunee. If l.cnder reyuired ntortgage insur:utce as a cun�itiun of m,,Jcing the I�an secureJ hy thir Securily
<br /> � Imtn�m�nt. Bnrnnticr �hall p�} thc pnmium� requircd to maintain thc murtga;e inwramc m cffect. If. fiir any �ea.tiun, thc
<br /> mori,a�.s inwrartce c��tierage reyuiral by l.ender lapse�ur cea,zs tu bc in effect.Sornne�er+hsll pay the pre►niums reyuired to
<br /> � obtain cu�•eruge wh.tantially eyu�calem tn the m��ngage inwrance pnvinvsly in e4�Gert.at a ca+t substsnually equiv�lent tu thc
<br /> � co�t w 6mm�ser uf th: m,�n�;a�;:in�urence preciunsly tn effect. frum an:►Item�te rnongage insurer apnrovevl by Lender. If
<br /> . p.;�I�+c inrm3U18 8�80
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