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<br /> Tnc I�unds shull hc held in an instilulinn whnr,c drpm�it�, anc imurc�.l by a fcilcrul ut�cncy, intilrtnncntaliry. nr cntity
<br /> (fncludinZ�l.cndcr. if l.cndcr i�sudi nn iusd�uii�iu)ur in nny Fcdcrul �Icim:I.u�.n U.�nk. l.cndcr siiall npply thc Hunds in puy thc
<br /> - �" . Escrc�w Itcros. I.cn:lcr may nin chnrgc Dorro�vcr fur hul�ling�uid npplyiug [hc f'unds.,u�nually;muly�ing thc cscruw aauunt. or �;....
<br /> -��-� � ` vcrifying thc Escrow Itcros,unlcss I.�ndcr pays pnrr<�wcr intRrc�t on thc Funds,ttnd upplicaUlc Imv pcmuts Lendcr to makc such �;:;�,
<br /> - �.. . •� ��, .�
<br /> ,� n chargc. H�iwever. Lcnder m:�y require l3urrowcr�o pay u�mc-tintc cliarEZC fnt'an ind�pendent rcal cntatc tux rcporting scrvice �:
<br /> ��.��;if. :.: ,� uscd by L,cnJcr in conncctiim witli this luan, unlcss upplb:ul�lc la�v prcividus othcrwise. Unless nn nbrcemcnt is m.►dc ur
<br /> �`�''``'n=� applicnblc luvr rcyuircti intcrest to bc paid, l.cudcr sl�ull nut lic rcquireel to pup Borr��wcr.►ny intrrest nr carnings un thc Funcis.
<br /> _ ��:
<br /> _ � 13orra���cr and Lcndcr may .tgrcc itt�vriting, hu�vcver, that intcretit shu.0 bc p�,.id nn the Munds. Lcndcr shnll�;ive In Hnrr�wor, �.:_
<br /> �;��i..,=,, �. . without chargc, un ctunual accounting of'thc Funds, tiho�vin�3 crcdits unci drblis �o thc FunJti und thc purp��sc f'or �vhich cnch
<br /> .. . �. dcbit to th�Fundti wns nuulc.Thc F�unds nre plcdgcd us addiiit�n:il sccurity far ull sums sccurcJ by this Sccurity Intitrununt.
<br /> s,�,�,:;� If thc Funds hcld by l.cndcr cxc4cd thc nmowus permiitcd to hc helcl by�,�pplic:�blc lai�v, l.ender shall:iccount to Aur�•o�ver
<br />-- �: '�.,w+�--� for thc cxccss Funds in uccordiuicc wlth thc re uircments of a I�c ihlc:laov. If thc amount of thc Punds held b Lendcr at un -
<br />_- ,.: ;,n.. �. 8 PP� � Y Y
<br /> -, ��;.r.��`.ti tin�e is nnt sufficicnt to pay thc Escmw [tcros when due,Iw nder may �a m�tify Bc�rr�wer in writing,and,in such case Borrowcr
<br />-..:_ .;;�;• �� shall pay to Lendcr the amount ncccssary to mukc up thc dcficicncy. 6nrm���r.r shall mukc up thc dcficicncy in no moro than
<br />=_ � hvclve niunthly payments,ut Lci�der's sole discretion. __-
<br /> '� Upun payment in full of all sums secured by this Security In�rnim:nt, Lendcr shall promptly refund to Borrower any
<br /> � Funds held by Lender.[f, wider parugraph 21,Lender shnll ncquire or xcll tht:Property. I.ender, prior to tho ucquisitian or sate
<br /> _- of tlic Property, sliaU apply any Funds lield by Li:ndcr�it tlt;:time of acquisitinn or sale ns n crcdit agninst the sums secured by
<br /> � this Sccurity Instrumcnt.
<br /> . 3. Applicntion of Puyments.Unlass applicuble luw provides oth�erwise,all payments received by L..ender under parugrnphs
<br /> i� I and 2 shall bc applieci: first, to any prepaymcnt churgcs duc under the I�Iotn; sccond, to Amounts payable undcr par,grnph 2;
<br /> W��z�. , _ '; '{ third,to interest duc;fourth,to principal due;�md lust, to nny latc churacc duu undcr the Not�.
<br /> `_ ' �; 3. Charges;Liens. Bnrio«�r shall pny all tn�;es, a�sessments,c��r��s,fines and impositions attributable to tt�e Praperty -
<br /> _ „ ` •� ��•hi;h may attain priority over this Security Instrument, and Icaseliolal puyn�ents or ground rents, if any. 8orrower sh�U pay
<br /> +* th,se obligations in the manner provided in pera�raph 2,or if not pxid in tha1.manner, Borrower shall pay t�em an time direcily
<br />� � � to th�person o�ved�ayment. Borrower shcdl promptly fucnish to Lencicr ciAl nntices of amounts to be paid under this paragrnph. _-
<br />=;� �� It'Gurrower makes these payments directly,Borrawer shul!promptly fumish to Lender receipts evidencing the payments.
<br />__ � Rnrrnwrr�hall nrnmprly�i�echaree any lien which hns priority over thlF.5ecurity Instrument unless Borrower: (a)agrees in
<br /> ' . ,; writin;to the puyment nf the obligation secured by thc li�n in 21 111811I1�P��YrpiAblc to Lcndcr; (b)contests in gnod faith the lien
<br />,� :,.�1 by, or defcnds against cnfarcement of thc licn in, legnl procceclings ��•hf[:h in the Lendcr's opinion operate to preve�it the
<br />�s, . ;:.:� enforcement of the lien: or(c) secums from thc holder of the lien un u�m.�ment satisfactory to I.ender subordinatin�the lien to
<br />� ., ,� this Security Instrument. If Lender determines that any pnrt of the Prnperty is subjcct ta n lien which may attain priority over
<br /> this Security Instrument, C.ender m�y give Borr�wer u notice identifying the lien.Bormwer shall satisfy the lien or take one or
<br /> � more of the actions set forth above within 10 days oF tit�giving of notioe.
<br />_ =:�t . 5. Hnu�rd or Property Insurance. Borcowcr shadl kccp the imprcrvements now existing on c�reaftcr erected on the
<br />_- -�- -. _._._.. '.... _. _ '...• 1.. L. __ L_'__. 1.!_ L • I 4-�L .7� •
<br />�,� . :.;t � F�uNc�ty ut�u�caT agun�a� iwi uy ti�c. nu�a��i i���uuci� wii�iii inc icaiii c:+icin"�d"u i.0'vc7dbc�� ��di�y Jtuc� ud'uiiu�. iGC�u�iTib
<br />�-:% � y floods or flooding, for which l.endcr rcquires;nsuranr.e. This insurnz�c�:s11�11 be maintaincd in the umounts and for the periods
<br /> i�• � ` ':� that Lender requires. The insurance carrier pmvidin� the insur.ince st��.11 be chosen by Borrower subject to L.ender's approv2l
<br />�� �� which shali not be unrcasonably withhcld. If Borrativer fuils to maintuin covcragc described above, L.ender may, :�t Lender's
<br />�. � . option,obtain covcrage to protect Lender's rights in thc I'roperty in a�Y��rd�ncc with paragruph 7.
<br /> " All insur�ulce policies and rene«:ils shall be:icceptable to Len.ler and shall include a standard mortgage ciat��e. Lender
<br />„� shall have the right to hold the policies and renewalr. If I.cnder requim�.Borrowcr shall promptly give to Lerider all receipts of
<br />`st. � � paid premiums and renewal notices.In the event of loss,Borrower sh.Y.11 give prompt notice to the insurance carrier and Lender.
<br /> v� � � ;, I.endcr may make proof of loss if not mudc promptly by Dorrowcr. �r
<br /> " Unlcss Lcrtdcr and Borrowcr othcrwise ugree in writing, insura�n•oe proceccis shall bc applicci to restvration or repair of the
<br />_ � ,' Property dmnaged, if thc restorution or rcpuir is economicuUy fc:�siblE�and [.cndcr'v sccurity ir not Icssencd. If the restoratian or -
<br /> repair is not economically fe:isiblc nr L,ender's se•curity wc�uld be Ics�sened, the insurancc prc�ceeds shall be upplied to the sums —_
<br />�` secured by tl�is Securiry Instrwnent, �vhether or nc�t then due, witli any excesti puid to Borrower. [f Bonower abandons the —
<br />- � � Property,or does not answer within 30 duyti a nntice from Lender tt�at the insur.mce carrier has ofFered to setNe a claim,then �.::
<br /> � L.ender may collect the insurance proceeds. I.ender m;ry use thc prua��:ls t�i repair or restore the 6'roperty or to pay sums ��
<br />�'-a � secured by this Security Instrumcnt,whether nr not then duc.Thc 30•du}'peritxl will bcgin wlten th.notice is given. r"
<br /> "-�� Unless Lender unJ Borrower otherwise a�r�e in �vriting, any applicatiun of procecJs to principal shall not extend or '."'•
<br /> -- ; :,-3t: postpone thc duc dnte ot' the monthly payments refcrred to in p:irugruphs I and 2 oc changc thc amount of the payments. !f '
<br /> - �•� '.. • � under paragraph 2I the Property is acquired by Lender, Borruwer's right to uny insurance policies and proceeds resulting from
<br /> • damnge to the Property prior ta the acquisitinn shull puss to Lcnder to thc cxtcnt of thc sums sccurcci by this Securiry Instrument
<br />, �i immuliatcly prior to thc ucyuisition.
<br />' , � 6.Occupancy, Presecvation,Muintenance nnd lE'►•atection oP the Property;Borrower's i,oun Applicatfon; Leaseholds.
<br /> - �'-�' Borrower shall occupy,est�iblish, �nd use dte Pix>perty us Ba•rower's principsd residence within sixty days after the execution of
<br /> �• � . tl�is Security Instrument and shull continue to ucxupy �he Prupeny as Hurrower's pnncipal residence for at least one ye:u after
<br /> --- �'�:.-.•' ' the date of occupancy, unlesr Lender c�tl�crwis� ugn;es in writing, which ronsent shall not be unrcasnnably withheld,or unless
<br /> :� • extenuuting circumstances exist which i�re bcyond Bnrmwer's control. Borrower shall not destroy�, damaoe or impair the
<br /> �- � Property, allow thc Propcny to dctcriuratc, or rummit wastc ��n the Propeny. Borrowcr shall bc in dcfault if any forfeiturc
<br /> = ,�;'%.�, ar.tion or proceeding, whether civil or criminul, is begwt that in Lender's good faith judgmcnt could result in tbrfeiture of the
<br /> -- Property or ndierwisc materially impair thc licn crcated b} chiti Security lnstrument or L.endcr's scrurity intcrest. Bvrro�ver may
<br /> = ;:���,i:: .. ' cure such a default und reinstate,us provided in par,igraph 18, by causing tlte arti�m ur procceding to be dismissed with u ruling
<br /> _,� • . :p that, in C.ender's good faith determinaticm, prcrludes tirrf'cituro of thc Borcowcr's intcrest in thc Property or othcr matcrial
<br /> ,� . imp.�imtent of the IiGn crcated by this 5ccurity Dtsuvment or L.endc�r'ti security interest. Rurri�wcr shall ul�o be in default if
<br /> ° .. Borrower,during the loan application procetis,g:n�e materially falsr�>r inaccurate infarmation ur titatements to Lender(or failed
<br />-__ � to providc I.cndcr with any matcrial infurmation);n conncction with thc loan cvidcnccd by thc Notc. inrluding,but not limitcd
<br /> to, representations concerning Horrower's o�cupamcy ut the Pruperty as a princip;d re�iuenrc. If thiti Scruriry Instrument i,on a •
<br /> - Icascl�old, Borrowcr sh�ill romply with all thc provisiona uf thc Icasc. I( Burrowcr aryuirrs fcc tidc to thc Property, thc '
<br /> " Ieaschold and the fee title shall not mcrge unlcss i.endcr agrccs to the mer6er in writing.
<br /> -- 'r 7. �rotectton of Lender's Rights in the Property.If Borrower fails to perform thc covcnants and agrecments contained in
<br /> ' tliis Security Instrumcnt, or tltcre is a Icgal procc��cling that may signifi�antly aficct L.�ndcr's rights in the Property (such as a
<br /> -_ ° .� __ proceeciing in bankruptcy, probate, for c:nndemnation or furfciturc ur to enti�rce laws��r regulations), then Lcnder may do and j_.
<br /> _ - - �• -r �ay tc�r whutcver�s neccssnry to protect thc value oT thc Propeny and Lender's ri�hts in the Praperty. I.cndcr's uctions muy �
<br /> _ �ncludc paying any sumti scc:urcd by a licn which has priuriry ovcr this Srcurity Instrumcnt, appcaring in court, paying I
<br /> — rcasonablc anorncys' fecs and cutcring on thc Property to makc rcpair�.Although Lcndcr may takc artiun undcr this paragr:�ph I
<br /> . . 7.I.cndcr docs not,ha��o tu do so. i
<br /> r�ny amounis di.�urseJ by Lender under thir para�n�ph 7 shall hccomc additiunal Jebt uf Burro�ver se�ur��l l�y this !
<br /> - Se�urity Instruntent. Unlcss fivrcowcr and Lcndrr agrcc tu uth�r tcrrns ut�paymcnt, thctir amaunty shall hr.ir intrrctit from the
<br /> _� � date of ditibuncmcnt at thc Notc r:rtc and shall bc payuhlc. with interetit, opun nutirc ti•om Lcndcr to Borrawer rcyuc�ting '
<br /> iit:. . paymcnt. t
<br /> 8. l�iorl�a�c Insurun�Y. If'Lcndcr rc UIR'.lI I11UC[+J�� insuranrc as a conditiun uf mukim�thc lo:m+ccurcd h this Securit �
<br /> -_ 1. }. 4 b'�' r )' Y i
<br /> - Instruntcnt. Bi�rr�nvcr sh;dl pay thc prcmiunu required tv tnaintain thc rnortgakc insuranrr in cfl'cct. IS', fbr any rcasc�n. thc .
<br /> _ , mm�gagc insur:�nrc cuvcr,�gc rcyuirod hy Lcndcr lapsc�ur rca�c�tu bc m cflcct. k3urrnwrr:,ludl pay th6 pmmiums rcyuin�i tu �
<br /> iibtam ruver.igc substant:ally cyuiv:dcnt tu thc monr,t�c inautuncr prcviuu.ly in�I'f'ccl, at a cost subtitantixlly cyuivalcnt to thc �
<br /> . • cost to Burrowcr ut'tlic murt�a�r inwr.mcc previ��usly in rffcct, frcnn an altcrnatc mortgu�c in�urcr approv�J by Lcn�cr. {F f
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<br /> � "�v��•t���a • Form 3026 9/90 '
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