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<br /> 1'hc Funds shall hc hcld in an institutiun wltnu dcposils urc insurcd hy a frdcrul u}�cncy, inslrumcntnliiy. ��r cntiry
<br /> (incluJinr l.�:ndcr, if L.cnJcr is such a�n intititutinnl or in nny Fcdcrul I�omc I,uan Cf�mlc. l.cndcr +Imll :ipply Ihc I�untls tu p.►y Ihc "
<br /> - �scrow Items. Lendcr muy not chargc Borrowcr for hulding und upplying thc Funds, annuully unalyiing tht c,Gro�v accuuiu.ur
<br /> � " vcrifyfng thc Escro�v Itcros, unlcss l.cndcr pays Darrowcr intcrest��n thc funds and applicublc luw permitti IAndcr ti�makc such
<br />�� . u churgc. Howcvcr. Lcndcr may rcquirc��rrowcr to pay u�iuc•►inu chargc for�u�indepcndcnt rral cst;itc tax rcporting scrvicc
<br /> uscci by Lendcr im m�nccti��n with this Inun, unlcss upplicablc Inw pmvidcti othcrw�sc. Unlcss +in t�6rccmcnt is mi►dc or
<br /> npplicnble Inw rcquires interest t��he pnid. I.cndcr sh,�ll nnt bc requircd to pay Horrowcr�my intcrest or carnings on thc rundti.
<br /> % ' •• Borrowcr and Lender muy agrce in writing, ho�vcvcr, thut intcieyt shull bc paiJ e�n the Funds. Lcttdcr�hnll give to l3nrrower,
<br /> -�b �
<br /> withaut chnrge, an annunl acrnunting of the Funds. �hawing creJits und debits ta the Funds and the purpc►se for which euch
<br /> • deble to the�unds�vas mnde.The Funds are pledged us udditional se�urity for all sums secured by this 5ecurity instrument. r ' .
<br /> lf the Funds held by Lender exceed the amounts pennitteci ta be held by applicable luw,L.ender shall ucwunt to eorrawer
<br /> for the excess Funds in accordance with the requirements of applicable law. If the amount of the Funds hcici by Lender ut any
<br /> time is not sufficient to pay the Escrow ltems wlien due,L.ender muy so notify Borrower in writing, and, in such case Borrawer .,_:,;
<br /> sh;►Ill pay to I.ender the amount necessnry to make up[he deficiency. Borrower shall make up the defic�ency in no more than :'+;..,
<br /> twelvc monthly payments,at Lendr,r's sole discrc[ion. - : •� ��
<br /> Upon payment in tull of all sums tiecured by this Security Instrumcnt, Lcnder shall promptly rcfund to Borrower any ,r .<<_�r;.•
<br /> � Funds held by Lendcr. If, under paragraph 21, Lender shall acquire or sell the Property,Lxnder,pnor to the acquisition or sale ,,',_,;,'_;•
<br /> �,; - {�-
<br /> of the Property,shall upply any Funds held by l.endcr at thc time of ucyuisition or salc as a credit ugainst thc sums secured by . ..;;y,,:t;,_A?`
<br /> this Securiry Instrumcnt. .''��'•.:�3';:.=,'R�v_`��`_.
<br /> • 3.Applicution of Pnyments.Unless applicable law proviJes otherwise,all payments received by Lender under para�raphs ^„y1�_,_,._
<br />' ' . 1 and 2 shall be applied: first, to any prepayment churges due under thc Note: sNcond,to amounts �ayuble undcr paragraph 2: ;:;,�,:,__��_
<br /> third, to intcrest duc:fourth.to principal duc:and last,to any latc charges duc undcr thc Notc. { ,.,,_T__
<br /> 4.�hurges; Liens. Borrower shall pay all taxes,assessrnents, charges, fincs und impositions attributable to the Property :--_ _ .
<br /> � ' which may attsin priority over this Security Instrument, and leatiehold payments or ground rents, if any. Borrower shaU pay ��t;�,
<br /> thesc obl igations in thc manncr provided in paragraph 2,or if no!paid in that manncr, Borrower shall pay them on time directly —��
<br /> to the person owed payment. �orrower shall promptly furnish to Lcnder all notices of amounts to bc paid under this p:uagraph• ;��y�',=•
<br /> lf Borrowcr makes thesc payments directly,Borrower shaU promF.ly furnish to Lender receipts evidencing the paymcnts.
<br /> ��� ---
<br /> Borrower shaU promptly discharge any lien which has priority over this Secunty Insteument unless Borrower:(a)agrees in �'_
<br /> . �vriting to the payment of the obligation securecl by the licn in a manner acceptable to Lender; (b)contests in good faith the Iten
<br /> by, or defends a�ainst enforcement of the lien in. Iegal proceeciings which in the Lender's opinion operate to prevent the —�
<br /> " " enforcement of the licn; or(c) secures from the holder of[he lien an agreement satisfactory ta l.endcr subordinatin�the lien to _
<br /> this Securiry Instrument. If Lender determines ihat any part of the Property is subjec[to a lien which may attain priority over =_
<br /> this Securiry Instrument, Lender may give Bormwer a notice identifying the lien. Borrower shall satisfy the lien or take one or �
<br /> • `" more af the actions set forth above within 10 days of the giving of notice. �-_
<br /> � 5: Fln�ard ar Pronerty Insurance. Borrower shall kecp ihe improveme.nts now existing or hereaftcr crected on the
<br /> ' Propeny insured against loss by fire,ha�ards included witlt�n[nc�erm ex�enucd cu�a�age' aru a:��oc1:�r".�.'=r"`,'•"��!'�inv �-
<br /> floods or tloodin�„for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods �.
<br /> that L.ender requires. The insurance cairier providing the insurance shnll be chosen by Borrower subject to Lender's approval
<br /> ' which shall not be unreasonably withhe(d. If Bonower fails to maintAin coverage described above, Lender may, at Lender's ��-
<br /> " optiun,abtain coverage to protect L,ender's rights in the Propeny in accordance with para�raph 7. �o�•�
<br /> All insurance policies and renewals shall be acceptable to Lender aiid shall include a standard mortgage clause. Lender ��
<br /> �hall have the right to hold the policies and renewals.If l.ender rcyu ires,Borrower shall prompdy give to I.ender nU receipts of
<br /> � paid premiums and renewal notices. ln the event of loss, Borrower shall give prompt notice to the�nsurxnce carrier nnd i.ender. �;-
<br /> l,ender may make proof of loss if not made promptly by Borrower. �` '
<br /> ' Unless L.ender and Borrower otherwise agree m wrnmg,insurance proceecis shall be npplied to restoration or repair of the r:f
<br /> Property damaged,if the restoration or cep�iir is eeonomically feasible and L.ender's security is not lessened. If the restoration or �
<br /> • rr.puir is not economically feasible or Lender's security would be lesseneci, the insurance proceeds shall be applied to the sums
<br /> " sccured by this Security Instrument, whethcr or not then due. �vith any exce�s paid to Borrower. [f Borrower abandons the ��:
<br /> Property,or does not answer within 30 Jays a notice from I.ender that the insurnnce can•ier has offered to settle:►claim, then ,,:.
<br />' Lender may collect the insu:unce proceeds. Lender may usc thc proceeds to repair or resture the Property or to pay sums ^
<br /> •� secural by this Security Instrument,whether or not then due. 1'hc 3U-diiy period will bcgin when thc notice is grven. _-�
<br /> ::Y Unless Lender and Borruwer otherwise agree in writing, any application uf proceeds co principal shall not extend or _,"�`� ,�-� -�
<br /> °, postpone the due datc of the monthly payments referred to in paragraphs 1 and 2 or chansc the amaunt of the payments. If ',• ;.;,..'r°=�
<br /> � �
<br /> � under paragrsph 21 the Propeny is acquired by Lender. Aorrower's right to uny insurance policies and proceeds resultin from .�1_ _
<br /> . • • � damage to the Property priur to the acyuisition shall pass to l.ender to the extent of the sums sccured by this Securi2y Instrument __:�_�=�
<br /> ' immed�ately priorro the acquisition. '''t�`�^"
<br /> . �,,j 6. Occupancy,Preservation. Maintens�nce and Protection of the Property;Burro�ver's I.oan flpplication; Leaseholds. �• •:�:�l,Y,,,,, v
<br /> ,. Borrower shall occupy.estublish,und use the Property as Borrowcr's principal resiJence within sixty days after the exccution of ,;�.g _��
<br /> �• this Security instrument and shall continue to occupy thc Propeny as Borrower's principul residence for at Ieast one year after � ..�' •��-.f_
<br /> the date of occupancy, unless Lrnder otherwise agrces in writing, which consent shall not be unreasonably withheld,or unless ,�-: .. _
<br /> ; extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy. dama�e or impair the , ..�y_
<br /> -� # Property,allo�v the Property to deteriorate, or commit wastc on the Property. Borrowcr shall be in default if any forFciture .,
<br /> • `,���,t action �x proceeding. whether civil or criminal, is begun that in Lender's good faith judgntent could result in forfeiwre of the
<br /> ' � Property or otherwise materially impair the licn rreated by this Security Instrument or l,ender's security interest.Borrower may
<br /> ' cure sud�a dcfault and reinstate,as provided in paragraph 18, by causm� thc action or proceeding to[�e dismisscd with a ruling
<br /> thc�t, in Lcndcr's good faith determination, prccludcs forfeiturc of thc Borro�ver's interest in thc Property or othcr matcrial
<br /> impairrnent of the lien creuted by this Security Instrument nr Lender's security interest. Borrowrr shaU also be in default if
<br /> � Borrower,durin�the loan application process,gave materi:�lly false or inaccurate information or statements to Lender(or failed
<br /> ' to pmvide Lendcr with uny material information)in runnection with thc loan evidenceci by the Nnte, includin€,but not limited
<br /> ° " to. representations conceming Borrower's occupanry cif the Property as a principal residenee. If this Securiry Instrument i,un a
<br /> � leasehold. Borcower shall �omply with all thc provi�iims of thr la:u�a It Borcuwer acyuires fce tidc tu the Property. thr
<br /> ; Icaschold and the fee tifle shall not merge unless Lcndcr agrees to the mergcr in writing.
<br /> 7.Protec4ion of Lender's xtights in tlie Property.If Borrower fails to perform the coven;uits and agreements contained in
<br /> ' this Security Instrument, or there is a legal proceeciing thut may�i}.nificantly uffect l.ender's ri�hts in the Propeny(such �.�+.i �
<br /> - �-- -_-___- - ______a:_.. :.,h....L...ntrv nrnhwtr Fnr candemnauon ur forfeiture or to enforce laws or regulations), then Lender may d��and
<br /> . ___-.__ _.._._.___ _�.-.___ IIM1I�..Ytn " _ .._.. ..... _.
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<br /> i pay for�vhatever is necessary to protect the vulue of the Property and Lender's rights tn tne i'roperty. unucr , ,�ci�.��„ ���ar
<br /> j �ncludc paying any sums secttrcd by a lien w6ich has priur�ry over this Securiry lnstrument, appearing in ruurt, paying
<br /> � rc�sonable attorneys' fccs and entcrin�on thc Prnperty to makc repairs. Although Lcnder may tuke acuun undcr thi�paragraph
<br /> 7.C.cridcr docs rtot havc ro do so.
<br /> °•� Any amounts disburs��l by [�ndcr unJcr this paragriph 7 shall bcrome additicmal dcbt uf Borro�vcr s�curcd hy ti�i� � •
<br /> � Sccuriry Instmmcnt. Unless Borrowcr and I.cnJer agrce to uthrr tcrnis uf payment, thcsc amounts shall bcar interest from thc �
<br /> date of disbursemcnt :�t the Note rate and shall Nc payablc. �►•ith intcrest, upun nutice I'rom L.ender tu Borrower rcyucstinN �I
<br /> �r paymcnt.
<br /> I �.11�ortgage In:t�rance.If Lendcr rcyuir��l nwn�agc insurancc ati a conditiun nf making thc luan securrd hy this Scrurity
<br /> -• 4 inswmcnt. Borro�v��- .hall pay thc premiums r�yuired tu maintain thc murtgagc insur,incc in rl7crt. If. li,r any rca.un. thc
<br /> " rnort�agc insuruncc co�cragc rcyuired by Lcndcr lap�rx ur rcascs tu bc in cffcrt. Horrowrr +hxll pay thc prcmiums rcyuircd a�
<br /> ��btain wvcr.�gc substantially cquivalent tc� dic ivnirtguge in�ur.►nre pnvi�iu�ly in cffect. at u rutit substantially eyuiv,drnt tu thc
<br /> . ` cost t�i Borrowcr uf dic mortga�*c insurancc prcvioutily in effcct. fmm .in altcrnatc murigagc in>urer apprav�tii hy [.cndcr. If
<br /> . v„��7�.�� Form 302$ 9190
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