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<br /> The Funde shutl be hcid in un lnntituticm whose depasits nre ingu�ed by u fe.cierul ugency. instrµmcntulitY. ar entiry �`
<br /> . -^ .�.....__... ,» .... u�...��t�.,m�.1 nun Rwtk. LCI1t1Ct t+hull uAPIY thC NNitd.ti co Duy�hc �
<br /> - :./ (indudinB l.endcr. 1� 1.CI1�Ci IH fiUtT Uti i�t�tttu��vu/•,T�••�••) •'^'�•«• ••...._ —
<br /> � �5cruw Items. I.,�ndcr mny not cfnarQc B��rro�ver for holtiinB und uppiyin�thc Funds,i►nnuAlly nntilyr.in�the c�crow uccount,or•
<br /> .,k vcrifyin�thc Nxruw t�cm�. unicse l.cndcr puye 9urr�nvcr intcrc.rt un thc Fundy und iipplicuhtc li«�+perntiltK l.endcr t��mukc such
<br /> t►chi�r�r. However, I.�ndcr mny rcyuire Rt�rruwcr tu puy a unc•tinu chnrE�e fiir an indepcn�lcnt ee�11 estate u�z rc�mrting�c�vicc
<br /> ' 6� u�cd by 1 c:ndcr in ruunrctiun wltl► thiti li�un, unlcx.r upplicnhlc It►w pr�widcti ulht�rwiyc. Unlcs.r un i��r�cment �+ mudc ur -
<br />� �-'� - applicatil�iaw reyuitcti{ntcrc�t tcj he pal�l. l.enJer shall nu!he reyulrc�i to �u►y 8urrowcr nuy Int�rest or eurninge un the Funds� ._
<br /> �> �:� Rurruwcr und L.citdcr nwy :tgrcL In�mritinv,h�,wever.that intcre�t xhull bc puW un thc Funds, I..cndrr�liull give tu Narn�wer� ;
<br /> .,.;�p, . withuut chucge,un unnuni urcouiHin�3 uf the Funds, shuwin�credtt�; und debitti tci the Hund�und�he purpnus For wliich euch �
<br /> •� debit tu thc Fundr,wns mude.Tiec funJs ure picdged ati udditiunul nc�:udty fnr ull hums necured by this Secvrity lustrument.
<br /> [f the Fund�held by L.ender exceed the umaunts perniitted ta be hetd by uppIicubie Iaw.Lcnder tihnll uccount to Barrower �
<br /> -��� for the excess Fundx in uccucdance with therequirements of opplirnble law. If the amaunt of the Funds held by Lendcr at uny
<br /> ` time is not suftictent to Qay the Euraw Items when due. Lender may �o notify�onower in writing,and,in such case Borrowec
<br /> � shail pay to Lender the amount necessary co make up the deficiency. Borcower shall makc up ttic defictency in no more than
<br /> """""" "7° twelve monthly payments,at Lender's sole discretion. .
<br /> � Upon payment in full of all sums secured by this Security Instrument, L,ender shalt prornptty refund ta Borrower any�
<br /> Funds held by l,ender.If,under paru�raph 21,Lender shall acquire or sell the Property,Lender. prior to thc acquisttion or sale
<br />- - of the Property,shall apply any Funds Reld by Lender at the time of acquisition or sale as a credit a�einst the sums secured by
<br /> - this Security Instrument.
<br />.,'''�•s•�����• . 3.Application of Payments.Unless appllcable law provides otherwise,all payments received by L.ender under para�raphs
<br /> - ";t�- 1 and 2 shall be applied:first,to eny prepayment charges due under the Notc: second,ta amounts payable under paragraph 2;
<br />"`��-�-'��°='' third,to interest due;fourth,to principal due;and last,to any late charges due under the Nate.
<br />_��s�'�:�
<br /> wv,�•r���;• 4.Ci�arges; Liens.Borrower shall pay all taxes, assessmen�c, charges.fines and Impositions attributable to the operty
<br />= -;;.-� � which may attain priority over this Secur�ty Instrument,and leasehold payments or ground rents,if any. Bonower shaii pay
<br /> -"' these obligations in the ma�er provided in paragraph 2,or�f not paid in that manner,Borrower shall pay them an time directly
<br />,->r.��,,;>.
<br />__^� •� to the person owed payment.Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph•
<br /> Tf Barrower makes these paymentsdirectly,Borrower shall prompdy fumish to L.ender receipu e�idencing the payaients.
<br />_:,,����` Borrower shall pmmptly discharge any tien which has priority over this Security Instrument unless Borro�ver:(a)agrees in
<br /> -- ---- writing to the payment af the obligation secured by the lien in a manner acceptable to Lender;(b)contests in good faith the lien
<br /> w�;,m,�,�; by, or defends against enforeenxnt of the lten in, lagal pmceedings which in the Lender's opinion operate to pnvent the i
<br /> �����.� e,nforcement of the lien;or(c)secures from the holder of the lien an agreement satisfactory to I...ender subordinadng the IIen to
<br /> -- this Seturity Instrument.If Lender determines that any par4 of the Property is subject to a lien which may attain priority over
<br /> this Security Instrument.Lender may give Borrower a nodce idendfying the lien.Borrower shall satisfy the lien or take one or
<br />-_--- - more of the acuons set forth above wlthln 10 days of the giving of notice.
<br /> 5. Aa�rd or Pro�eYrty L�surattce. BOrrower ahall keep the improvements now existing or hereafter erected on the
<br /> � Pn,per�y huu►�i against l�ss�y firs,hazarsis[n�lv�e� within the term "extended coverage"and any other hu7ards.including
<br /> --__.=�_=���,�, floads or flooding. for which Lender requires insurance.This insurance shaU be maintained in Qhe amounts and fbr ihe periu3�
<br />-_-___„::;� that I.ender requires.The insnrance carrier praviding the insurance shall be chosen by Borrower subJect to I.ender's approval
<br /> which shall not be unmasonebly withheld. If Barrower fails to maintain coverage described above. Lender may, at 1.ender's
<br /> = option,obtain coverage to protect Lender's rights in the Property in accordance with Para�raPh 7• _
<br /> Alt 4nsurance pol�cies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender
<br /> shall have the right to hold the poiicies and renewals.If Lender requires. Borrower shall promptly give to Lender all receipis of
<br /> paid premiums and renewa!notices. In the event of loss.Borrower shall give prompt notice w the insurance rarrier,and Lender.
<br /> Lender may make praof of toss if not made promptty by Horrower.
<br /> - - Unless Lender and Borrower otherwise agree�n wnt�ng,ins�rance proceeds shall be applied to restarat�on or repair of the
<br /> Properfy damage�.if the restoradon or repair is economically feasible and I.ender's security is not lessened.If the r�storation or
<br /> repair is not econamically feasibie or Lender's security would be tessened,the insuranoe proceeds s1►el�he aPPlied to the sums
<br /> secured by this S�curity Insuument,whether or not then due, with any excess pald to Borrower. If Borrower abandons the
<br /> property,or dces not answer within 30 days a notice from Lender that the insurance carrier has offered to� or toi am�sums
<br /> Lender may collecc the insuranre proceeds. Lender may use the proceecis to repair or restore the ProPeRY, P Y
<br /> secur�d by thts Security Instrurmnt.whether or not then due.The 30-day pedod wilt begin when the aotice is grven.
<br /> Unless Lender and Bflrtower othenvise agree in writing,any application of procc�ds to principal shall not extend or
<br /> - postpcne the due date of the inonehly payments referred to in pacagraphs 1 and 2 or change the amount af the payments. If
<br /> under paragraph 21 the Property Is acquirad by Lernter.Borrower's right to any insurance polictes ai►d Proceods resulting from
<br /> damage to the Property prior t�o ibe acquisition shall pass to Lender to the extent of the sums secural by th9s Security Instrument
<br /> - immsdiately pdor to the acquisidon.
<br /> 6,pccupancy,preservat�an, Maintenance and Protectton of'the Property;Burrow'ea''s Loan APpl�cation;E.em�ehoids.
<br /> Botrower shall occupy,establish,and use the Praperty as Borrower's principal resid�nce within sixty days after the ezecuaon uf
<br /> — this Security Instrument and stull continue to aacupy �e�FenY �Borrower's principal residence far su least one year after
<br /> the date of occupaacy.unless Iander otherwise ugrees in writing, which consent shall not be u�reasonabiy witt�hk�iditor unl�e
<br /> excenuating circumstences exist which are beyond Borrower's contml. Borrower shall not desuoy. damag P�
<br /> Property, allow the Property to deteriorate.or commlt w+asce on the Property• Borrower shali be in default if any forfeiture
<br /> action or proceeding,whethec civil or criminal.is begun that itt F.ender's good faith judgment could result in forfeiture of the
<br /> Property or otherwise materially impair the lien creuted h Ig,b cavslnt th acti n or�mceeedlnt b�e dis'ssed w[tt►a ruling
<br /> cure such a defa�►It and reinstate,as provided in paragrap Y S P �
<br /> ---� that. in Lender's good faith deternunation. prerludes forfeiture of the Borrower's interest in the Property or other material •
<br /> � �`�==:'� impairnrent of the lien created by this Security Instrument or I.ender's security interest. Borrower shall also be in default if
<br /> --------- Borrower.durin�the loan application process.gave materially false or inaccurate informati�n ar statements to Lender(or 4'aile�
<br /> - =---— to provide Lender with any material information)in connection with the loan evIdenced by the Note,including.but not timited �
<br /> °--= ° co,rep�ntatians conceming Bormwer's occupaucy a�the Pc�operty as a princlpal residence. If this Security Instrun►ent is on a
<br /> _ ----- leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee dtle W the Property. tha
<br /> - �t=���� leasehoid and the fee dde shall not merge unless Lender agcees w the merger in writing.
<br /> � �- 7.Pratectton ot LFnder'a Rights in the Property.If Borrower fails to perform the covenancs and agreements contained in
<br /> -4„�� this Security insaument, or c}�ae is a legal proccedinS that maY significandy affecc i.ender's righu in the Property(such as a ,
<br /> _:_°�'`�k''"� prooeeding in bank�uptcy,probate,for mndemnation or forfeimre or to enforee laws or regulations),then Lender may do and
<br /> --- _..._.._�..e,.c.s,� a.Y.�N.,and Irnder's rishts in the Propercy. Lender's actions may
<br /> 2�I 10i WR�IICVCi !S rtx'CSSaty i6 p�viC�a a�so .o........ ..-- _._c'-v ° n lII COL![� lIl
<br />-----=--�_;;_� mclude paying any sums secured by a lien which has priority over this 5ecurity Insnument. stppeaa g Pa3' 8
<br /> °":�-�;� rea.sonable attomeys'fees and entering on the Property to make repairs. Aithough L.ender may talce acuon under this paragraph
<br /> -���;; -- 9,L.ender does not have to do so.
<br />=-'�.=;--�,�_v� pny amounu disbursed bY txnder under this paragraph 7 shall become additional debt of Borrower secured by this
<br /> -��?+�'��:� Security Instrument.Unless Borrower and I.ender agree to other cerms of payment,these amiwi►ts shatl bear interest frora the
<br /> �' `�" date of disbursement at thc Note rate artd shall be payable, with imerest, upon notice from Lender to Borrower requesting
<br /> -'=���:���
<br /> -'--:r� payment.
<br /> �"�--°�'"�-` 8.Mortgc�e Insurnnee.If Lender required mongage insurance as u condition of making the loan secured by this Secunty
<br /> `"'.'`,"'•�'�:"= Instrument, Borrower shail pay thc premiams required to maintain the mortgage insurance in effecc. If, for any reason, the
<br /> � ..;���,y mortguge insurnnc�mvemge re�uired by Lender lapses or ceases to be in effect,Borrower shall pay the premiums required to
<br />--';��.ti�.�,:'c;. obtain wvera�e substuntinlly equivalent to the mort�age insurnnre previously in effect. at a cost substanaally equivalent to tha
<br /> ;;�:€���w�.,:�.;'�: cost to Barrower of the mortgage insunutce previously in effect. from an altemate mortgage insurer approved by Lender. If
<br /> --.,� -� .,
<br /> . ,« •. � Form 3028 8/80
<br />-"� Dapc 2 ot 0 ,
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