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<br /> Thc Funds shall be hcld in un institutian whosc dcposits arc insurcd by a federal agency, instrumentulity, or entity -
<br /> (including Lendcr, if L.endcr is such an instiuitionl or in any Fedcral Honte Loan Bank. I..cnder shall apply the Funds to pay A►c
<br /> Esc raw Itcros. l.cndcr may not�:Imrgc 13nrrnwur for holJin�and applyin�thc Funds, tmnually nnuly�ing thc escrow nccount,or
<br /> .. vcr�fyin�thc Escrow Itcros,unless!..cndcr p�y�.Uorrov�cr intcrctit on thc Funds nnd applicablc li��v permitti I.c:ndcr tn mul<c suc{i .
<br /> a ch��rgc. Howcver, L.cnJcr may requirc Bnrrowcr to pny a c�nc-timc charge for an independent real cstate t:�x rcporting scrvicc
<br /> use� by I.cndcr in connectian with this laa�i, unlcss ;►p�lic�blc luw providcs athcrwisc. Untcss an ugrccment i:: macic ar ___,.,
<br /> upplicablc Inw rcquires interest to bc paid,l.cndcr shull not be rcquircd to�ay eorrowcr iiny intcrest or carnin��;on the I�unds. ��'
<br /> � 9orrawer nnd Lcndcr may �+trcc in writing.howcvcr, th,�t intcrest shsdl bc paid on ti�c Funds. [.cndcr shnll �;ivc to Sorro+rcr.
<br /> ° wit3�out charbc, an annunl accounting of thc Punds, sh�nving crcclits and debits to thc Funds und thc purpasc for whlch cach �".=m�
<br /> ` dehit to the Funds wus mude.The I�unds ure plr.dged as additionul security for all sums su:ured by this Securiry instrument.
<br /> - ' ,. � IF the Funds held by I.ender exceed the amounts pe:i witt�l to bc hcld Uy applica61e Icnv, Lendcr�hnll account tc�Borrower � �
<br /> for the excess Funds in nccordance with thc rcquircmcnts of applicable law. If thc nmaunt of thc runds held by Lcnder�at any
<br /> tiine is not sufficicnt to pay the Bscrow(tems whcn duc, L.endcr may so notify Qorrower in writing, und, iu such casc Borrowcr
<br /> shall pay to I..ender thc umown necessnry to rnnkc up thc dcficiency. anrrower shall makc up thc dcfiaency in no more than o_�
<br /> twelve monthly payments,at I..ender's sole discretiun. ___
<br /> • Upon payment in full �f all surns securcd by this Securiry Instrumcnt. Lcnder shall promptly rcfund co Borrawer any _
<br /> ' of he Prode t�h j��if,luna cr Funds h hd by Lcn er t tl e tQne of acqois ticm or sale a5 aeredt aguinstl he sums�s�cured by =�_-__
<br /> P Y PPY Y —.
<br /> this Securiry Instrumcnt.
<br /> • 3, Applicntion of Payments. Unless applicable law provides otherwise,all payments received by L.ender under paragrap s
<br /> I and 2 shaU be applied: tirst, to uny prepaymcnt charges due under thc Note; sccond, to amaunts payablc under paragraph 2: _ —_
<br /> ' ` thi rd,to interest due; fourth,to principal due: and last,to any late chnrges duc under the Notc. ___.__
<br /> 4. Char�es; Liens. Borrower shali pay all tuxes, :sssessments, charges, fines cnd impositions attributuble to the Property _
<br /> �� w}�ich may attain priority over this Securtty Instrument, and leasehold payments or ground rents. if uny. Borrower shall pay
<br /> � these ohli�etions in the manner provided in paragraph 2, or if not paid in that msuiner,Borrower shall pay the[n on time directly
<br /> ' to the person o�ved payment. eorrow�r shell promptly fumish to Lender all nutices of amounts to be paid under this p�ras;raph. _____
<br /> If Borrower makes these payments directly,Bonower sh�ll promptly furnish to Lender receipts evidencing the payments.
<br /> • Horrower shall promptly dischar�e any lien which has priority over this Securiry Instrument unless Bonower: (a)agrees in
<br /> writing to the payment of the obli�ation secured by thc lien in a manner acceptuble to[.�nder;(b)contests in good faith the lien ___
<br /> by, or defends aga+nst enforcement of the lien in, Iegal proceedings which in the Lender's opinion opernte to prevent the
<br /> en forcement of the licn; or(c)secures from the holder�f the licn an agrcement satisfactory to I.ender subordinatin�the lien to `__ _
<br /> �. this Security Instrument. If I.ender dctermines thut any pan uf the Property is subject to a lien which may nttain priority over ____
<br /> this Security Instrument,'Ler.der may give Borrower n notice identifying the lien. Bonower shall sutisfy che lien or talce une or _
<br /> mnrc of thc actians sct fonh above within 10 days of[hc giving of notice.
<br /> 5. Hnzard or Property Insurance. Borrower shall kecp the improvements now cxisting or hereafter erccted on the �,.,__
<br /> Property insurcd against loss by fire, ha•rnrds included within thc term "cxtended coveragc" and any other hazArds, including =
<br /> ' Iloods or flooding, far which Lender requires insurance. This insurance shall be maintaineci in the amounts and for the periods r
<br /> : �ti,�r L.�n�lrr rr�uires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval -
<br /> -- --- _.-
<br /> " wliich shall not be unreasonably withheld. If Borrower failc to maintum coverage �ic,c:�i�e� abc.�, i.:.r.�c:•"•'.�;. ar L.�nrlrr'c ��_
<br /> .,� option, obtain mvei�a�e to protect Lender's rights in the Property in accordance with paragraph 7.
<br /> ��--
<br /> All insurance policies and rene�vals shall bc acceptable to Lcnder and shall inciude a standurd mortgage cluuse. Lender �
<br /> shall havc thc right to hold the policies und rencwals. If l.ender rcquires,Borrawer shall promptly givc to Lcnder all receipts of
<br /> .• ` �. paid premiums and renewal notices. I n the event of loss,Borrower shall give prompt notice ro the�nsurance carrier and L.ender. _'_.
<br /> l.ender may makc prosf of loss if not made prompdy by Borcower. ___
<br /> Unless Lender and Borrower otherwise agree in wnt�ng, insurance procceds shall bc upplied to restoration or repais of the _____
<br /> • Property damaged,if the restoration or repnir is economicaUy feasible and L.ender's security is not lessened.If the restoration or
<br /> repair is not econontically fcasible or Lendcr's sccurity would be Icssened. thc insurancc procccds shall be applicd to thc sums �_
<br /> ' secured by thix Security [ntitrument, �vhether or nat then due, with any excess paid to Borrower. [f Borrower abandons the �•';
<br /> Property,or does not answer within 3� Jayti s�notice from L.rnder that dir insuranre carrier has offcred to settle a clairn,then y,m,
<br /> Lender may collect the insurancc pra e�ds. Lender may use the proceeds to repair ur restore the Property or to pay sums �. .,,.
<br /> securcd by this Securiry Instrument, u�hether or not then due. The 30-duy period will beSin when the notice is given. f;-., _
<br /> Unless Lender and Burrower otlicnvise agrcc in writing. any application of procceds to principal shall not cxtend or � . =
<br /> ' , pc,stponc�he due datc of the m��n:hly payments rrfcrreJ to in paragraphs I xnd 2 ��r chxnge thc amount of the paymcnts. If � ,
<br /> • ' under paragraph 21 thc Property is ucyuircd by L�nder, Borrower's right to any insw•ance policies und proceeds resulting from :
<br /> �� ,..
<br /> �: damagc to thc Property prior to thc ucyuisition tihall p:iss to Lcnder to thc extcnt of thr. ,ums+ecured by this Scc:urity Instrument ,;;.,
<br /> �• inimediately prior to the ncquisition. ��'"
<br /> b. Occupancy, Preservution,Matntenance and Protection of the Property:Burrower's Lo�n Application; Leuselmlds. .
<br /> Borrower shall occupy, e�tablish,and use thc Property as Borrower's principal residencc within sixty days after the execution of �,
<br /> t�is Security Instrument and shall amtinue to accupy the Property as Borrower's principal residence fbr at Icast one year ufter
<br /> - tfie date of <xcupancy, unless Lender otherwixe agrees in writing, which consent sh�ll not he unrexsonably withheld,or unless
<br /> extenuatin� circumstances cxist whidi are lx:yonJ Borrowcr's control. Borrowcr �hidl not destroy, damage or impair the f,.'•
<br /> Property,.illow thc !'ropeny tu Jeteriorate, ur cummit ��•atite un the Property. B�>rrc»vcr shull bc in dcfault if any furfeiture r,�;
<br /> •tction or procecding, whethcr civil or criminal, is hcgun that in Lendcr's good ta�th judgment rould result in forferture of thc I
<br /> � Property or ntherwise materially impair thc licn rrcatcd hy this Scc:uriry Instrumcnt or Lcnder'ti sccurity interest. Borrowcr may
<br /> cure such u default and reinstate, a� pruviJed in paragraph IR,by rausing the actiim or prcuceding to be dismi�sed with u ruling I •
<br /> that, in Lcnder's good faith Jctcrmination, prccludcs farfciturc of thc Barrowcr's intcrest in the Pr<�perry or othcr rnatcrial
<br /> i mpairment of the lien crcated by thix S�v:uriry In+trument e�r Lcnder's security interest. Bnrrc�wer�hall :dso he ii�default il' i
<br /> E Borrower, during dte luan appliratiun prcxe�ti.Eave muterially false i�r inacrurate inforn�ation ur titatentent�tu Lettder Icx failed
<br /> t o provide Lender with any material intixmation) in r��nnectiun with thc luan cvidenced hy tlic Note. inrluding.hut nat limitrd I
<br /> • t a represcntations c�nrcrning Burrc�wcr'c occupancy uF�hc Pruprny uti:t ptinClpal rctiidcncc. If thi>Scrurity lnxtrumcnt n un:i �
<br /> leaschold. Borrowcr shull romply �vith all thc provisiuns �if thc Ica�c. ll Borzuwcr arquirc+ frc tidc ta thc Pru�xrty. Ihc
<br /> i easchold and thc I'c;e�title chall not mcrgc unlcss Lendcr agrces to thc mcrgcr in writing. I
<br /> � 7,Protection nf Len@er's IZI�6t5 In the Property.lf Borri�wcr fails to perform the covenants and agrecmcnts containcd in i
<br /> this Security Instrument, or thcre i�a Iegal prorceJing that may significandy affect Lcndcr's rights in Ihe Property (su�h us a ,
<br /> procceding in bankruptcy, probate. I'ur condemnatiun ur furfciture ur tu enforcc laws or regulationsl, then L�:nder ivay dn and
<br /> pay for whatever is nece,sary tu protect d�c value of thr Praperry and L�nder'z riglux in the Pr��perty. Lender'ti action� may I
<br /> � �nclude paying xny �ums securecl by a lien which has priurity uver thi� Securiry Instrument, appearing in raurt, paying
<br /> _---- � ---_ _.._....__��_ ....�....,,....• �:.... .....�.,.,�.,r:n„ „�th�Prnnrrtv ti�tnake reaairs. Althou}�h [a`ndcl'ntay txke a�[iun under thiti paragraph �
<br /> �-- _ __ _ _ ___ ■w,.,.�uu�.. u...,....� .........._ ...�
<br /> � 7,Lendcr docs not havc cu Ju xo.� .
<br /> „ Any amount� JisburticJ by Lendcr undcr this paracruph 7 .hall bcrrnnc aJditicmal dcbt ul Hurm�►•cr �rrur�d hy thi.
<br /> • Sccurity Instrument. Unlcxs Borruwcr and Lcndcr a�rcc tu othcr trrm�of�pa)'mcnt, thctic amounts tih.tll hcar intcre+l tiom thc
<br /> i datc uf disbunement ut tho Notc ra�c and �hall hc payahlc. witli intcr�+L upun nuticc fnmi Lrndcr t�� H��rruwcr rryu�.ting
<br /> • payment.
<br /> `' 8.AtortFn�;e Insun►ncc.lt'L.cnder rcyuircd mort�±agc in.uranrr as a runditian��f msking th�I�r,ui+ccurrd hy thi. krurn�
<br /> Instn�mcnt. Burrowcr shall p:ry thc prcmiunu reyuircd tu nr�intain thc mur.ga�,c inwranrc in r(Irct. II. li,r:uiy rc.u�m, thc
<br /> ), martEage insuranre ruvcr.ige reyuircJ hq Lender lap+r�ur rcatieti tu hc in�ft��rt. Norrowrr�hall pay th�pnmium. reymrr�l to
<br />_ � obtain cuvcra�c tiubtitantially cyuivalcnt tn thc monga�;c inwran�r previ�,u+ly in rffr�t. at a cu,t tiuh.tantially �yui�•;dcm a� thc
<br /> cost tu Burruw�r ol'thc murtE.��;c intiur.mrr prcvi��u,IJ• in cffrct. from :m altcrn:uc nu�rt�:a�;c in�urcr appru���ti1 h� Lrndrr. II
<br /> � � �rf N �1 �.� Form 3028 9190
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