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<br /> _� The Funds shxll be hold in �n institutian whose depoaite axe inaured by a foderaf �gency,,,lnatnirr�nt�itty, ar cntlty . � -
<br /> (inc�ading l.endec.if I.tndcr is auch an Inadwti�n)or in any Fcderul Homo l.oan�nk.[.ender sha11 apply thc Funde to pxy the
<br /> °'������� Esc�aw Items.l.en�l�r nury not diarga&rrtower for ho l d ing an d a}�ly ing t he f�w�s.nnnus l ly un a lyT ing tl►e escrow uc�uuist,iyr
<br /> verlfyi►ig dw Escrow Itc�ns.unlesy l,�;ifdet payK[iuy�uwcr intercyt ut�ttie Runds m1d�pplicablc law gcnnfta Gcnder to aiakc�ucl�
<br /> - -- n cl�arg�e. �iowever,l.�:nder muy reyuiro Bqrrnwer tn pay t�ane-tfine charge fur tu�lndepen�ient renl estc►te tux rzponin$scrvica
<br /> - — used by I.rnder in cannrction witt► this losn. unless npplicablo luw providcs otitenvisc. Unless eq,ugreemcnt is i�ie ur
<br /> syp{rlicable Itw cequirca intarcst to be pald.l.ender ehall not be requirod to pay Aorrower any Interest ar erunlnaK un the�undr.
<br /> — �orrower and Lcr�der mAy agree ie� wdt[np,however�thut intcrest shull be paid an d�c Fund9. Le�xlcr shafl giv¢to Hc�rrower,
<br /> � w;thout et�uge. an annual accounting of the FundR. ehowing cralitR and deb{te ta the Funda and tho pucpose t'ac which e,�ch
<br /> debit to tho Fw�ds Was anade.Tho I�unds nro plsxigtx!as addittqnal securlty for aA sums rccun+i E�y th1A 5ccurlty instrnme�t.
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<br /> If thC Funds Ixld by I.ender excetd the cut�ot�nts permittcd to bo hcld by uppIJa►bie luw,l.endcr ahu11 acoount to&rrmwer
<br /> - for the exass Funds jn uccordanco with the�q uirementa of applicuble inw.lf tha amount of the Funds held by Lender at eny
<br /> ' time is not sufficient to pay the Escrow Items when duo,I.ender may so notify Ac►nower in wrlting.cu�d.in such case&�rrowcr
<br /> shall pay to Lender the amount nocesss�y to mafce up tho deflciency. Borrowet shalt make up the deficiency in rtci more thun
<br /> '` twelve momhly payments.A1 LCAQ@t'B sol�dlscntion. —
<br /> ,_� Upon paymeat in ful!af all sums Secuccd by this Secudty Instntment, Lender shcill promptly refund to Aorruwer any
<br /> Funds held by I.ender.If,under parugraph 21� I.ender shull ucqutre or sell the Propersy,I.ender,prior to tha acyulsition or sale `
<br />- of the t'mperty. shall apply eny Fund4 held by I.ender at the Wne of acquisftion or sale as a credit against tha sums secure�by
<br />_l° thls Security Inswment.
<br /> 3.Application o!Peymente.Unless upplicable luw provides othenvlse,al!paymeats received by Gend�r uuder paragraphs
<br /> 1 ant12 shall be applied: first. to any prepayment charges due uader the Note:second,w emounts payable under pum�raph 2;
<br /> thIrd,to interest due; founh.to principal due;and last,to any late charges due under the Note.
<br /> 4.Cdatges;Llens.Borrower shalt pay all tuxes,ussessments.charges,Fn�s and impasttions attributable to tho Property
<br /> which may attain pr�orlry over tbis SecurIty Insqvment. and teasehold paymems or ground renta. if any. Horcower shail pay
<br /> these obligations in the manner provtdad in paragraph 2,or if not patd in that ananner.Borrower shall pay them on time directly __.
<br /> to the person owed puyment.Borrower shall prompdy furnish to L.ender all notices of amounts to be paid under thjs paragrruph.
<br /> If&omnwer makes these payments direcdy.Borrower shutl promptly fumish to Lender receipts evIdencing the payments.
<br /> r�` ��• �' Barrower shall pramptly discharge any tien which has prIor�ty over this Secudty Instrument unless Borrower:(a)agrees in
<br /> " % `���' wr�ting to the paymeat of the obligatlon secuned by the I[en in a manner acceptable to L�znder,(b)cantests in good fuith the Ilen —�
<br /> . , �,_, by. or defends against enforcement of the lien in. tegal procee8ings whlch !n the Lender's opinjon operate ta prevent th6
<br /> t'•:�•L���f ����� � enforcement of the 1[en;or(c)secures from the holder of the lien an agreement sadsfactory ro I.ertdor subondfnating the Ifen to
<br /> ;ti,�',�Ci�� this Securiry Iasuument. If Lender detemilnes that any part of the Property is subject to a llen which may attain pdority over �
<br /> ;j'�;,��';.�..,1.j�;,::.;�y this Securiry Instrument.Lender may give Borrower a noNce identifying the lien. Borrower shall satisfy the lie�or take one or __
<br /> '...��' � more of the actions set forth abuve wtthin 10 days of the giving of natice.
<br /> ,'-.,.`; ��.` ; ��, S. �rd or Property Insurance. Borrower sh�ll keep the improvements no�v exiat-in� or hereafter erected on the �`-'
<br /> .���+�-� ;.•„:� • Property insured against loss by fire,hazards included within the term"extended covera$e`and any other hazards. including =�
<br /> �, . : �• " _ : floods or Flooding,for which Lender requires insurance. This insurance shall be maintained in the umaunts und for the perlods ���;-
<br /> _ 4�J�.. � �����(�x, Ti�P incurance cerrier Qrovidine the incurance shalt be chosen by Borrower subject to Lender's approval , -
<br /> ._ �,�, which shall not be unressonably wlthheld. If Borrower fails ta maintain coverage described above, L.ender may. at L.ender s
<br /> ��;:;;,.:. option.obtein coverage to protecc Lender's rigt►ts in the Property in accordance with para�raph 7. -
<br /> ';`�rt'.`.<�'; , ' , All insurance polic�es and renewals shall be acceptable to I.ender and shell include a standard mortguge cfause. Lender ==
<br /> � , ,',;�;,?;�F., . shall have the right to hold the�oljcies and renewels.If Lender requires,Borrower shuli promptly give to Lender Ail mcelpts of �-
<br /> , . . pstid premiums rind renewal not�ces. In the event of loss. Borrower shall�ive prompt notice to it�e insurance carrter and Lender. ___
<br /> �� . L ender rtwy make proof af Ioss if not made pramptly by Borrower.
<br /> � ' Unless Lender and Borrower otherwjse ngrce in wrlting.insur�u►ce praceeds shall be upplied to restoration or repair of the
<br /> • •� �4�'•+.•.' � dune ed,if the restoradon ar re air is economicall feasible and Lender's securit is not lessene�. If the restoraUOn or �.''_'
<br /> '' �• •��;y;=/'� • repai�rrts not e onomicalty feasible or Lender's secudty would be lessened,the insu�ance proceecis shatl be applied to tha sums ,
<br /> . •� -•�� , secured by this Securiry Instrument,wteether or not then due. with pny excess patd to Borrower. If H07tOW8T AbA1KI011s tI18 .
<br /> ' • Property. or dces not answer within 30 days a notice from Lender that the insurance carrier has affered ta settie a claim.then
<br /> L.ender may coltect the insuranoe proceeds. l.ender may use the proceeds to repstir or mstom the Praperty or to pay sums
<br /> � -: ;�:'r,,;':,•.� � secured by this Securlty Insaument.whether or not then due. The 30-day period will bcgin whcn the notice is given.
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<br /> ,..r.ij . Unless L.ender and Borrower otherwise agmx in writing, any applicatian of procee�s to principal shall not extend or „
<br /> ��� '>''' . postpone the due date of the manthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If .�,t';
<br />� `�- � under paragcaph 21 the Propeity is acquired by Lender. Borrower's right to any insurence policies and proceeds resuttin�from
<br /> � dama�e to the Propercy prior co the ucquisltion shall pass to i.ender to the extent of the sums secured by this Secur�ty,Instrument
<br /> .. immediately prior to the ucgu3sirion. "
<br /> . , 6.Uccupancy�Preservation, Maintenence and Pratection of the Properiy;Borrower's Loan Appifcatfon;Leaseholds. •
<br /> Borrower shall occupy,establish.and use the Property as Bottower's princtpal residence within sixty days after the execution of ,
<br /> o '�� �;;;;;� this Secudry Insmtment and shell condnue to occupy the Property as Borrower's principal residence for ut teavt one year after .
<br /> ��' '� ''� . ' the date of occnpanry.unless Lender othenvise agrees in writin�. which consent shall not be unreasanably withhold,or un!ess •
<br /> ,• ' ,�'r'�,; extenuating clrcumstances exist whtch arc beyond Borrower's control. Borrower shall not destroyti damage or impair the
<br /> �"' ' property.allow tha Property to deteriorate. or commtt waste on the Praperty. Borrower shall be in default if any forfetture
<br /> � t"��.5��r•', �� action or roceedin . whether civil or criminal,is un that in Lender's ood faith ud ment could result in forfeiture of the
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<br /> ;:;,,;:�:•.,..�:' Property or othenvise materially impair the lten created by this Security Inurument or Lender's securiry interest.Borrower mpy
<br /> . � cure such a default and rejnstate,as provided in paragraph 18.by causing the action or procoeding to be dismissed with a rulin�
<br /> � ' ° that. in Lender's good faith determination, precludes forfeiture of the Horrower's interest in the Property or ather matedal '
<br /> •� • " impairmeat of the lien created by this Secudty Instrument or Lender's securiry interest. Borrower shall also be in default if
<br /> Borrower,during the loan applicatiun prooess.gave mater�ally false or Inaccurate infartnation or statements to Lender(or failed
<br /> t o p m v l d e L e n d e r u r i t h a n y m a t e d a l i n f o r m u t i o n)i n c o n n e c t i o n w i t h t h e l a�n e v i d e n c e d b y t h e N o t e.i n c l u d i n g,b u t n o t l i m i t e d .
<br /> , to,represeatations conceming Borrower's occupancy of the Propeny as u principal residence. If this Security instniment is on a
<br /> • .� leasehold,Borrower shell mmply with all the provisions of the leasc. If Borrower scquires fee title to the Property, the
<br />�� .p � leasehold arcd the!'ee tittu shuli not merge unless L.ender agrees to the mer�er in writing.
<br /> ,�'';`.�." 7.Protection of Lender's Righta fn the Property. If Borrower fails to pert'orm thc covenants and agrcements contain�xi in
<br /> � • thIs Secudty Inswrnent. or there is a legal procee�ing thut may signiticantly affect Lender's rights tn the Property(such as u
<br /> �� � . ptoceeding in bankruptcy,pro6ate. for condemnatian or forfeiture or to enfotce laws or regulutions), then i.ender may do and
<br /> �, ' �ay for whutever is aeoessary to pmtect the value of the Property and Lxnder's rights in the Property. Lender's actions may
<br /> � ' mclude payiag +uty sums secured by a lien whtch has priority over this Security Instrument. nppearing in court. paying
<br /> r..�....J.t.v��..«uvo• F o.v1.�..m.in�..n�h.s A.....o.�v rn mo4o nnnoira AllM�unh 1 n,vlvr mov to4a ortinn��nrls+r thic narnortanh
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<br /> -= • 7.Lender does not have to do so.
<br /> . ' Any amounts disbursed by Lender urtder this parngraph 7 shall become additional debt of Borrower secureci by this
<br /> • Secudty Iesuument. Unless Burcower und Lender agree to other terms of payment, these amounts shall bear intcrest from the
<br /> dute of disburseme�u.nt the Note rate and shull be payable, with interest, upon nutice from Lender to Borrower requcsting
<br /> PaYment. (
<br /> S. Mortgage Insurauce.If Lender required mortgage insurance u�u rnrtdition of mukin�the loan secured by this Security
<br /> ' „ � • Ir�strument, 8orrower sha{I pay the premiums required to maintain the mortgugc insurance in effect. [f, for any re:uon, the
<br /> mortgage insurunce covernge required by Lender lupses ar ceases to be in eftect,Borrower shall pay the premiums rcquireci to I
<br /> � - � •• obtnin coverage substantialty equivulent to the mortgnge insurunce previously in effect, at n cost subsWntiully equivutent to the f
<br /> � - ,�� rnst ta Bont►wer of the moctguge insurunce previuu�ly in �ffcct. frun� un ulternatc mortgage insurcr approvuf by Lendcr. If
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<br /> Pa�o z o�a , fotm 3028 9f90
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