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<br /> �i � � �,�'� � : ?he Funds sball be he�d�in an institution whose degs►sits a�e.insured by a fedetal agency. instrum€nratity. or ept►aSr , s --
<br /> - � , :. ,� :,�� (inctuding Lendes.iF i.ender is such an institation)or in ang Federa!Home Loan Bank.L.eflder s5al1 apply.the Fuads io gay tiie _ _e
<br /> •;-�'-� ,, ,o�..�. . " ::�, Escrocv Items.E.ender m�y csnt c$arge�lorrower far holding and applying the Funcls.aanually analyzigg�he esczocv sasourt�os . �_--_
<br /> :.� `�� :�.� `�`` vetifying the Fscrow IFeu�,unl�s I.en�r pays Sarrower inter�st on the Fuads and applicca�le taw pe�ts Le�der to make such — -
<br /> '-� ��. � .. � n charge. Howcver.Lend2r may tequire Bonowec to p�y a ane-time charge for an indePe�►deset real estate tax reportiIIg stue�4'�� � -
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<br /> uscd by Lender�in conaectifln with this tuan, unless a�iicabte taw provides othernise. Unlcss an ag�ment is made or • __-��-_-
<br /> _'`!� `:,•.�k�� ` applieab2e la�v.re,qvices ioterest to b�paid,Lender shall not 6e requiTed to pay Horcower any interest ar e�mngs on the�unds. —
<br /> ' v'�.,• , ' ' - • Bortnwer anb�fi.eader may ag�¢e in wsmq;.however.that intetest shall be paid on the Funds. Ler.der shai!give to Rnrmaer.
<br /> � ..�•: u�ithout charge:an aanual acoouming,of the Funds, showing credits and debits m the Funds�d the purpose for w6ich eadr __-_
<br /> . . • debit to the Funds was made.The Funds are pledged as a�ditsonat securit�far�ll sums secvred by this Secvrity Instrumea� . ,_.._ __
<br /> ' ' ` If t6e Fnrnis held by l.ender exceed the amounts permittad w Ue heid hy applicahte law,Leader shali aocaunt to Sorrowe�' _ _
<br /> ' � for tha exoess Funds in�r.rdanoe with tl�mquirements of applit�ble law. If the amount of the Funds heId 6y Leader att any • =-�--
<br /> �,'y dme is not sufficient ta�*,y ihe Escrow Items when due.Leuder may so notiiy Sorrawer in writi�,ant�.in suc�c�se Botrower --- .
<br /> • sltali pay to L.ender ch�e aino�t necessary to make up the deftciency. Borrower shall make ap the defis7ency in no more tI�an
<br /> - ' ' t�velve monthly payu�euts,at Lender's sole disenetion. � -
<br /> � �� Upon paycnent w fiill of all sums seairad by this Security Instiumen�I.ender s6aU promp2iy re��t tu Borrawer agy _
<br /> • • ' Funds hetd by Lender.lf,nnder paragaph 2 t.Lender shall acqair�or sell the Propert� Leader.prior ta�.:acqaisiticm ar sale. �
<br /> �. � ' " of the Property.shal!apply any Funds held by Leader at the time of acquisition or sate as a credit agax��2 thc sums secured by
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<br /> '•i, . . , 3.A,�plicatton of g'ap�aents.Unless applicable law provides otheraise,all paymenu received by I.eader undsr garagraphs ..
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<br /> , � • • 1 and 2 shall De applied:first.w aay prepayment chaiges due nnder the Note:second.to aninwus payable andea paragraph 2; .
<br /> '�% ' � . •� � , third.to interest due;fourth,to principal dne:aad IasC,to any lat�chazges dae under the Note. , •
<br /> . ,. ,;. �. � . Q.Cha�es; Lferrs.Borrower sh�ll pay all tax�s,a�sessmsiau,chacEes. 5nes�d impositions attsc'buralsle to the Property .
<br />_ whicD may aitain priority over this Securiry Instrument, and leasehotd paymenis or ground rents, if�}.Borrower sBati pay '
<br /> �' '. • these o6ligations in the manner pmvide+d in paragraph.2.or if not paid in tbat manner.Hormn+er.sttall�y-ti�em am Ume dinx�ty . ,
<br /> t�:.. ': '� :, to the peison owed paymQn�Borrower sball promptly fumish to LQnder sU notices of amonffis to be paid�der this paiag�aph.
<br /> �:�4;"` • � . If Bnrrower makes t�ese paymeats di�ty Boao�ver shall prompily fumish to I.ender r�ceipis evidencin�the payme�nts. .
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<br /> l:�`��r`::;` •� .` Borrower shall promptly dischatge any lien which has priority over thsa Saa�rity Instrqmeut unl�ss Rc�rrnwes:(a)a�es in .
<br />��-_'-�'�i,:`±`�'.::�.F.. .. : writing w the paymemt of the obligation secured By the lien in a manner��able to Lender•(b)coatc-�.i�good faith t6e lien :
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<br /> , �by, or-defends against�enfo�emsnt-of the iien�-in..te�!proceedings wFiFC�'s in�the I.ender's opiniom�e to preveat,the . .
<br /> . �' °�;',:: ' • enforce.ment of the tien;or(cy s�ar�from th�holder of the lien an ag�eement satisfactory to Lender s�ortiin�mg the lien to
<br /> ' . . ",�'��f , this�Sarity Instrument. If Lend�cfg.terinines that any part of the Property is sabjecc to a lien which may aitain prcQ�ity over .
<br /> '. �� �':`�`' . this Se�rity Ynsuument,Lender�sys o ve Boaower a notice idendfying the lien.Borrower sha11 sadsfy the lien or ta;te one or
<br /> . . � . • morg of the astions set fonh above�7hin 10 days of the giving oY notice. :-••
<br />: � _ _- _ � . S. �Iaz�d ar.�ropaty i►•m��n•_ Borrower sball keep the improvements now eaistin; or h�reatter erecxed'�n the "`:�':;.�
<br /> ' �. ' ��;�.�•.� Pcoperty insumd against loss by fire,hazards included within tI�e term'extended covesage" and airy other Hazards;inciud"ur�, _":.:.,, .
<br /> � ;`�t's:;fi�. , tloods or flooding,for which I.ender requires insarance. 'Phis insurance s6all be maintained ia the amouats and far d�gesiods " •' ��°�--
<br /> �-r ;'..,:'�rq�$`: ' .' ' that L�:r requu�s. T&e insurance camer providing the insurance shall be chosen by Borrower su6jeci to Lender's ap�mva! " `
<br /> � �,•..t«�• vrhicl��'�:il aot be unreasonabJy withheld. If Borcower fails to maintain coverage descritred above,Lender may. aE Lender's
<br />.. ;�;�' ". - • option,ubtain coverage to protett Lender's righu in the Property in accordance with paragraph 7.
<br /> ' .,, . AIl insnrance policies and rene�uals shall be acceptabte m Lender and shall include a ssandard mortgage clavse. L•ender
<br /> . ' shall kave tbe right to huld the policies an�renewals.If l.ender requires,14�rrc�wer shall promptly give to Lender all receipts of � �:,:,_,
<br />= - paid premiums attd renewa]notices.In the event of lass,Bocauaver shall gi�re.rrompt natice to the tasuranoe cazrfer and Lendes. �
<br />.. ' "_ ' I.ender may make proof of ioss if not made prompdy by Bot1lvNNe:r. ' ---
<br /> •-��'� _ � • Unless Lender and Eorrower atherwise agree in wrirng;i��ranR piasecds shall be appTied to reswmtion or n.pair of tho
<br /> ' � Praperty darnaged.if tfle restoratton or repair is economi.:�!1_: fc'a.n�G:and.i.eu�r's securiry is not lessened.If the restaration or �
<br /> ': , " .� � repair is not econamicalty feasible or l.ender's security wo�.'-i l�1..��;ta:<ij.. d;c.i:�errance procceds shall be applied to the sums ''� '
<br /> . . secured by this Security Instrument, whether or not then due. wict�any exc�s paid to Borrower. If Boerower abandons the F
<br /> . • Property.or does not ans��er within 30 days a notice from Ler�er that the insurance carrier has offeted to setde a cla�m.then `��
<br /> . . , '� . Lender mey oollect the insurance proce�eds. Lender may use the proceeds to repair or restore the 1'ropeRy or to pay sums ' �
<br /> ". • secured by this Security Instrument.whether or nat then due.The 30�day period aril!be�in when the nauce is�ven. _
<br /> � � Unless Lender and Borrower othenvise agree in writing. any application of proceeds to principal shall not eatend or � ��
<br /> � postpone the due date af the monthly Payments referred to in paragraphs 1 and 2 or change the amount of the payrnents. If �
<br />= wtder paragraph 21 the Ptoperty is acquired by l.ender. Borrower's right to any insusance policics and proceeds resutting from °
<br /> . ,,�. : damage to tke Peoperty prior to the acquisition shall pass to l.ender to the eatent of thesums secured by this Securtty instrument ��-
<br /> . . . immediately prior to the acquisition. � ry�'p�
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<br /> , . . . 6.Occupan�ry,Pteservatton,Matnteaunce aad Protection of t6e Property;Borrower's Loan Appitcatdon;Leusehotdg. :��;:�r__
<br />_ . ' ' ' , : Borrower shall occupy.establ�sh,and use the Propefty as Borrawer's prineipal residence within siaty days after the execution of . . �,��
<br /> r_ •� � this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after
<br /> � � the date of occupancy.unless Lender othenvise agrees in wridng, which consent sha{I not be unreasonably�vithheld�.or unless ,,�� � .•�J V�v�
<br /> - -- ` ' , , extenuating circumstances exist which are beyond Borrower s control. Borrower shall not destroy. damage or impair the ;���:• .. -
<br />.__ � Property, allow the Properry to deteriorate. or oommit waste on the Property. Boaower shall be in default if any forfeiture . . '
<br />:�,, :, . , action or proceeding. whether civi!or criminal.is begun that in I.ender s good faith jud�rtent couId result in forfeiture of the • � • •
<br />�- � � Properry or otherwise materially impair the lien created by this Security instcument or Lender's security interest.Sorrower may � ,',
<br /> • � cure such a default and reinstate.as pmvided in paragraph 1 S,by causing the action�r proceeding to be dismissed with a n►ling ,
<br /> ' that, in Lender s good faith detemunation, precludes forFeiture of the Borrower's interest in the Property or other material • ""
<br />" j �-.s;�"�'-;.�.. impairment of the lien created by this Securiry Instrument or Lender'a security interest. Borrower shall also be in default if �� � "
<br /> '� ¢ • �.%���!� Borrower.dwing the loan application pracess,gave materialty false or inaccurate informatian or statements ta LenJcr(or iailed
<br />— . '�, 't•',ii✓.' . _
<br />°,�. ._• � „ to provide l.ender with any material information)in connection with the loan evidenced by the Note.inclading,but not limlted �
<br />_ ' ., to,representations concermng Boaower's occupancy of the Property as a principal msidence. If this Security Instrument is on a � .
<br /> � � • leasehold. Boaower sttali comply with a11 the provisions o! the lease. df Borrower acquires fee title to the Property, the _ ' .
<br />=- ;� . : teasehold and t6e�fee titie shall not merge unless Lender agrees to the mcrger in writing. ' . .
<br /> " 7.Prafection of Lende�s Rlg6ts in the Pmperty.If Botrower fails to perform the covenants and agreements contained in „� . . ,�
<br /> v•�. � ' .� : • ' � this 5ecnriry Instrument.or there is a legal proceeding that may signifi�r►tly affect Lender's rishts in the Property (such as a
<br />�. ; • ' , praceeding in bankruptcy.probate. for oondemnation or forfeiture or to enforce laws or regulations),then Lender may do ar:d .
<br /> - ' : pay for whazever is necessary to protect the value of the Property and Lender's rights in the Property. Lender s actions may .
<br />- : � " . �. include pay6ng any sums securod by a lien whicb has prionty over this Securiry Instrument, appearing in cou». paying . :
<br /> reasonabte attomeys' fees and entering on the Propeny to make repairs.Although Lender may take action under this paragraph
<br /> ` i;�;,;'s;"5�, ?,l.a�d�r.does not have to do so. ., .
<br /> _' i '� �,.;i,�,., ' .�.ny amounu disbursed by I.ender under this paragraph 7 shall become additiunai debt of Borrower secured by this
<br /> • ; � • � Secudty Instrument. UnIess Borcower and L.ender agree to other terms of paymeni.th��e�unounts shall bear interest from the ,
<br />- ' � date of disbursement at the Note rate arcd shall 6e payable,with interesr, upon notice fcom Lender to Borrower reeryesang r`
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<br />_ . �x' _ . . . . • Payment. .
<br />-- 8.1Liortgage lnsnrance.if Lender required mortgage irsurance as a mndition of making the lu�n�;ecured by this Security �
<br /> � � ' instwnent. Borroticer shall_pay the premiums required to maintain the mortgage insurance m�fffect. 1f. for any reason, the . •
<br /> •' � � . : . mortgage insurance covernge required by Lender lapses or cKa:,�s to be in effect.Borrevrer shsill pay tI:e premiums required to •
<br /> . . • . .. obtain coverage substantially equivalent to the rrtortgage insurance previonsly in effect,at a�xist substz�urially equivalent to the �
<br /> •� • cost to Borrower of the mongage insurance previously in effect, from an:iltemate mongage insurer�pproved by Leader. lf t _ "
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