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<br /> n`- '!'hc 1'unds ��hall b� hcl�A in an instivatinn �viiov� dc�a�;its :�ec insureci hy a fcdc�al a(:ency. insirumcittality. nr c�uty
<br /> ..�� (incluEJi�ili Lca�icP, it l�:nder i� si�cL u�� i��-titinicfn)nr ir�any Fef!er::! tlomc I.+�aiz n:����. Lender shall up��ly the rwtds to p:�y tlic
<br />'�'"�`�;••;��� �+�:�ro�v Itans. Lcndcr�uay nut cl►nrgc ilorrow�r�ar holJin�ond iipplying tlie I�unds,unnually uunlyzin�; thc c4cruw accuuiit. ��r . r� .
<br /> ===ra verifying the Escrow Itcros,unicys l.cndcr{�ays Borro�v�r intcrest un the C'unds and up�►licable In�v perniits Lc:ndcr tu makc such
<br /> ��,
<br /> m �cl�orge. Howevcr. Lc:ndcr mray reyuire l3ormwer to p:►y�►licablemlaw�pr�idcs��otl r w�i�c.�e►Unlcss cun�ng�ccmcntns ni dc i�r �
<br /> -`��'�n�A usccl By Lcndcr in counection with this laan, cnless upp'
<br /> npplicablc luw rcquires intcrest to be paid,Lcndcr sliall not hc requirul to pay Bureowcr uny intcrest or can�ing�on thc fu��ds. ^_��_
<br /> =--��ti [3orrawcr and Lendcr may agr�:c in tivriting, howcvcr, that interest shall bc pa�d an ttee Funds. l,cndcr shall givc to qorrowcr. ��
<br /> - - ' without charge, nj� unnuul acc::�unting nf the Funcls, sho�+�ing credits and debit�ti tn Uie �unds and Ute purpose Poe which eacN
<br /> debit to the Fu►x!s was made.The Funds tu�e pledgecl as t►Jdition:d security for all sums secured by this Sc:cun�y in�trumcnt. �,P��_�
<br /> _— -- If the Funds held by Lender exoa�t the amounts permitted ta be held by applir.�ble law,L.ender shall nccount to Aorrnwer _ _
<br /> _��,� for thc cxcess Funds in nccordancc with the requirem�nts of applicable law. If the nmount of the Funds hcld by Lendcr at:►ny '�s��,
<br /> = ticne is not sufficient to pay the Essrow[tems whcu due.[.ender may sa natify Borcower in writing,ttnd,io such c;aae Ciurr��wer
<br /> .,,, :;.
<br /> __._o shall pay to Lender the nmount ne:ccssary ta make up the deficiency. F3orrower shall make up the deficiency in no marc than .,}.'',-
<br /> _- twclvc n�onthly payments.at l.ender's sole discrction. r�•=
<br /> - -_� Upun payment in full of all sunu secure�d by this Securiry Instrument, Lende� shall promptly refund to Borcawer any ,p�',4_
<br /> � Funds held by Lcndcr. If, under parag►�aph 21•[.ender shall acquirc or sell the Property,I.ender,pnor to the ucyuisition�r s:tle �«,T�
<br /> - - of thc Peoperty,shall apply aay Funds lield by Lender at the ume of acquisition or s�le as a credit against the sums szcured by `.�_
<br /> -'''�"`� this Sccurity Instrument. ��%t
<br /> � --- 3.A{rpltcatior�of Payments.Unless applicable law provides utherwise,all p�yments received by Lender under parnbrnphs 6,^
<br /> __.�-__= 1 1nd 2 shall bc lpplicd: first. to any prepayment charges due under the Note; second.to amourrts payable under par.�grnph 2; �.,�.,_
<br /> tuird.to intcrest due;fourth,ta principal due;and last,to any late diarges due under the Note. - _
<br /> �.— 4.Charges; Llens. Borrower shall puy ali taxes, assessments, charges, fines and impositions attributable ta the Property —
<br />`j�;�� which may attain prioriry over this S�:urity Instrumcnt, and leasehold payments or ground rents, if any. Borrower siiall Ray ��
<br /> these obligations in the manner provided in paragrsph 2.or if not paid in that manner, Borro�ver shall Ray them on time dimctly
<br /> �,��� to the person owed payment.Iiorrower shall promptly furnish to Lender all notices of amouncs to be paid under this paragraph. �-i
<br /> If Horrower makes the�se payments direcdy, Borrower shall promptly furnisli to Gender receipts evidencing the paycnents. �,, _
<br /> -----�:,� Borra�r•�r sha11 prompL[y di�c�hur�;e any���h�rtih 1 en Pn�a mner accentable to Lettder: (b)contestBsi n gyaod faith tlte lien u_
<br />:::..�.;�,t�'t�_:� wnting tu�iic payuw,���. u��w..b..........._.... ,
<br /> by, or defcnds agtinst enfor�ement of the lien in, Icg�l praceedings wfiich in thc Lender's op�mm� o}ternte co EIICVCIII u�e �«w.
<br />`�;� :� enforcement of the lien:or(c'+s�ures from the holder of the lien an agreement satisfactory to Lender subordinating the lien ta -- _-
<br /> .;s.i�'�ry• d�is Security In�trument. If C.cn�a°r determines that any part of the Properry is subject ta n lien which may attain priority over �,_F_
<br /> *�-; this Sccurity Instrument, Lcne3er anny givc Borrowcr a nutice identifying the lien.Borrower shall satisfy the lien or take flns or ��._
<br /> k y"•; more of the uctions set forth atmove within l0 days of the giving of natice. --_
<br />`�,; . 5. Hazard or Prope�y 1�surnnce. Bonower sh�@1 kecp thc improvements now existtng or hereafter erected on thc „-
<br /> � -`•:.+�"�� ._'�`_ PropertY insurcd against loss by firc, hazards included«�i[hin thc «nm chaQ bc maint ined in the amounts and o Sthe per�iads ---__
<br />=�'�'.��+:•• floods or floodins,tor which I.ender reyui.c�i��surnc:.. �'�.:s ir ur�..__ ---
<br /> �"'"•}�':'�'•'� that Lender requires. The insurance camer providing the insur.snce shall be chosen by Bottower subject to I.ender's approvai _�
<br /> • •.�•�.�,,.:.,• ---
<br /> which shall not be unreason�bly withheld. If Borrotiver fails to maintain coveragc described a�ove. I,ender mav, at Lende�s
<br />�•�d%'�;"= °+� option,obtain covecage to protect Lender's rights in the Propeny in accordance with paragraph 7• =
<br />`'f '�' ' All insurance policies and renew•als shall be acceptuble to Lcnder and shall include a st�ndard mortgage clause. Lender
<br /> �%._
<br /> `y�. . shall have the right to hold the policies and renewals. If Lender rcquires,Borrower c;haU prompQy givc ro I.cncler ull rcceipts uf _
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<br /> ���.;� paid premiums and rene�val natices.In the eves�t of loss,Borrower shall give prompt notice to the msur�nce carrner and L.ender.
<br />__.��rT: I.ender may mnke proof of loss if not made promptly by Borrowcr. ��
<br /> __-=?s�••y'�„� Unless Lender and Borrower othenvise ugree m wntmg. insurance proceeds shall be upplied ro restoration ar repair of the �j..
<br /> - �t-�- Property damaBed.►f t he restamtion or re pair is economically feasible and Lender's security ts not lessened. If the restoration or
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<br /> -� ,,.r repair is not economically feasible or Lender's security would be Iessened. the insurance proceeds shall be appli e c i to t he sums A
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<br />-`i�, •..1, ,� secured by this Security Instrument, whether or not then due, with any excess puid to Borro�ver. If Bonower abandons the
<br />-y"-_���:.;;�;•'` Property, or dces not answer within 30 days a notice from L.ender that the insurance carrier has offered to settle a claim, then
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<br />�,�"�,�?S:'�tti.• Lender may collect the insurance procceds. Lender may use the proceed nt�,vP�be mrwhen the notice S given� p�y sums
<br /> ,t;�,��,_ secured by this Securiry Instrument,whethcr or not then due Thc 30-day pe ' S
<br />-�'��•� Unless Lender and Harrower otherwise agree in writing. any application of proceeds to principal shall not extertd or ,
<br />.;;,;;���� postpone tt:c duc date of the monthly payments referrcd to in paragraphs l und 2 or change thc amount of the paymcnts. If
<br />"T'�� u�ider paragraph 21 the Property is acquired by Lender, Borrower's r�ght to any insurance policies and proceeds resulting from
<br />°"'r"`'• ` damage to the Property prior to the acqwsition shall pass to L�cndcr to thc cxtent of the sum�secured by this Security lnstrument
<br /> .,.,
<br /> irrmiediately prior to the acquisition.
<br />.�'"„�. ` 6.Occupancy,Preservatlon,Maintenance und Protectton oY the Property:.Rorrower's Loun Appl[calton;Leasehnlds.
<br /> ;�'_;. � Bonower shail occupy, est�blish,and use the Property as Borrower's prihcipal res►dence within sixty days after the execuiion of
<br /> iT�q,i,,; � this Security Instntment and shall cantinue to occupy the P�nperty as Borrower's p�7ncipal residence for at Ieast ane year after
<br />�:i==.�i��. the date of occupancy, unless Lender othenvise agre.es in writing, which consent shall not be unre:�sonably withheld,or unless
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<br /> �� �t-- extcnuatin� circumstances exist which :ire beyond Borrower's control. Borrower shall not destroy, damage or impair thc
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<br />:.,;�,.,.,'v-,:,;,,, property, allow the Property to deterioratc, or eommit waste on the Property. Bottowcr shall be in def:tull if.iny For crture �
<br /> � �'� '�•� action or roceeding, whether civil or criminal, is begun that in C.ender's gooci faith judgment could retiult in forfeuurc of the
<br /> :�• .:f,;F rt.s P
<br /> ,^:�;,��r •,7: Property or othenvise maternnlly impair the lien created by this Security Instrume:n or Lender's security interest. or���ver may
<br /> � cure such a default and reinstate,as provided in paragraph 18,by causing the action or proceeding to be dismissed�vith a ruling
<br /> '�'�"'"��'; thac, in Lcndcr's good faith determination, precludes forfeiture of the Borrower's intemst in th� Property or odmr matcrial
<br />�:w R.A`.�iN"F!�r'..
<br /> :��; y impsiirment of the licn cre:ntcd by this Security Instnmient or C.cndcr's security intercst. Borcn�vcr sh�ill also bc in default if
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<br />-�,y�.���•;:� >: sonower,during the loan appli��ation process.gave materially falsc nr inaccur.►tc information or statemcnts:o [.cndcr(or fai e
<br />_;;;,�,:�.� ; ro provide G:nder with any materi;il information)in cannection with the losn evidcnced by thr,Note, including.but not limited I
<br /> ':. �., to, reprcscntations ronremin�Borrower's accupancy of thc Pro}x:rty as a principal residcncc. If this Sccurity Instrument is on a
<br />`''"`.�"�` '�' leaschold, Bomo�ver shall comply with all the provis►ons of the Ieasc. If Borro�vcr acyuires fcc tidc to she Property, thc I
<br /> � . t• • Ieasehold�uid tdic fc�e titic shall not merge unless Lendcr agn:cs ro thc mcrger in writing.
<br /> � ;•4,;•;�� 7.Protect�an of I.endcr's Rlghts in the Property. lF Borro�ver fails to perform thc ruvcnants and agrecmcnts containcJ in �
<br /> .._ ,� _ this Security Instrument.or there is a le�al pracecxling that may signit"icantly affect I..c:nder's rights in the Property l+uch ati a
<br /> � '��' � prosceding in bankruptcy,probatr., 6'or condemnation or forfcimrc or to enforcc laws or rcgulutions),then Lcndcr may do.uid
<br /> �v�'�` ..o., t.,r.uh�tnver ix neceu:trv to Drotect the v:ilue uf thc ProperiY and [.cndcr's ri�hts in thc Propeny. C.ender's actions may �
<br /> :__
<br /> _ c_�....... I....�......o..r .�nroorino in t•nI1Pt. tl:IV1I1L'
<br />--.-.:�'�. ,_. r-� '-' ' ---'- .� ...o............. -*.r�'••c -- � . .
<br /> " includc paying any sums sccurcd by a licn ���hich has prioncy u�cr ����� .n��� • - - �
<br /> '• -�'°?�```�' • re:isonablc attorncys'fees unJ entcring on thc Property to make rcpai�s. Although I.cndcr nxay take action undcr this paragruph
<br /> ��'�`' ': 7, Lendcr ducs not havc to do so.
<br /> ` „".� Any amounts disbursed by Lender under this parabraph 7 sh:ill become additional debt of Barro�vcr securai by thiti �
<br />- ' . Sccurity instrumcnt. Unlcss Borru�ver and[.cnJcr agrcc to othcr tcrms of pciyment, thesc amounts ,Ball b�ar intcrest 1'mm the
<br />�' � � date of disburscment at the Notc r.�tc and shall be payablc, with intcres[. upon noticc 1'rom Lender w Borrowcr rcyue�tiny ;
<br /> -. .- � ;�;� payment. I
<br /> ',-, . 8.Mortgagt lnsurortce.If l.ender requered morcgage insursnce.+s a conJiti��n of making tiu Ic+�n secured by this Security
<br /> ' Instrument. Borrower shall pay the premiums rcyuired ro maintain the mortgage insurance in effect. If, for any nu,un, thc
<br /> :; . mortgagc in�urancc covcradc reyui�•ed by Lendcr lapsac or ccascs to he in cffeet. $orm�vcr shall pay thc prcmiums rcquired io � •
<br /> "�;, • ubtuin wveragc substantially equivalent to the martgage insurance previously in effcct.at a cost substantially cyuivalcnt tu tl►c
<br />_�,;��j�°''.��,; cost to Borrower of the mortgage insurance previously in effect, frum �in alternate morcgage insurer approved by l.ender. IF
<br /> � 4�. ' Form 3028 9l90
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