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<br /> � � � The F�Bs sl�a1! be heid ia an i�ssti3adon�rhose degosits are uisured by a fedetal`a�acY. mstrumeatafity. or eatitp
<br /> i ti
<br /> (fncl�din�Leatder.if I.endea is sucb an instiNtion)or ia�sy Federal Home i�o.ut Bank.l��s shall appiy the Funds to pay ttce
<br /> . ' Es,cmw Iiems.l8ader may not cU�Fge Snrroaer Cor hoiding and upplyin�the F�ands.�nnauallY analYria�the escro�ar apcwunt.or
<br /> verifying the£scmw Items.aaless dxnder pa�ys Boao�ver imer�st ua thx Fuads aaduppficable law permits Lender to anake snch
<br /> a charge.Aou�ever,Leader�ay tcisluIre Sorro�er to pay e one-tims c�e for an independent real estate taa reportin�setvice
<br /> us� by LeMter ifl canaection with tius loan, im2e�s appltrable law pravides athenvise.,LFn�ess�e�ment is mad¢ or
<br /> a8plicabie taw mquirzs inte�est to De paid.LeaQer shatl not 6e,cequired to pay 8otrower any+imecest�r caraiags o�s the Fuads. ,
<br /> Bc��rawer a,ttd I.ande�may ageee in wrIting.howe�er.that inter�st shalA be pa�on the Fnnds.i.ender sh�l!pv�ta Bmrrower.
<br /> wIthaut cAarge.tu��at+nal accaua�ng of the Funds,showing aredits and deiuts to the Fuads aad the purpose for which c�sh '
<br /> � debit to the Faads was m3de.She Fnnds are pfattge.d as�dditiunal securit7+for alt sum�saatred.by ihis Security InstnunenL
<br /> ii i��mnts r5et�by i��z,.t�t���=��."tmitt�tu�hdQ!sy s�glic��'a��t�:�.!.R��e���saaunt to�c►��� -T
<br /> for the excess Fuads in aocord�¢ce with the requimments o€applicable Raw.If the�uonnt of the Fands taeId by Lendsr at any
<br /> tiate is aoE s�nt cQ pay ths F�scrow Items when due,t�ader may so uotify Borrower in writing,and..In su�c�Bamuwer -
<br /> shall pay w l�tcder fhe amount tt�.cessary.to Artake uQ the defici�acy.Sorcower shall make�p the de�ficiency in nu more than � —
<br /> twelve monWy paym�ts.at�.eAder's so2e dissretion.
<br /> Upon pay�eat wrfull of a!I sutrss secured by thfs.Secarity Instrumen� I.ender sbatl promptiy refund to Borsawer a�ry
<br /> Funds hetd by Lender.If,undei paragragh 21.Yxnder shall acquit�or se1!the Pruperty,Lepder,pn or to the acquisiuon or saEe
<br /> of the Property.shall.appiY zai+�Fuads held�yr Lender at xhe tiAae of acquisitiou or sste as a cr�t agains�the sums secured try
<br /> this Security Inssrumea�. - ' �
<br /> 3.�Ypplicatlon af P�ym�nts.Ualess applicable!aw pr+ovides otbeaa+ise.all pay�nems reeeived by.Lectclei under pa�agraphs
<br /> 1 and 2 shall 6e applied:fust,to anY P�Paymrart charges due nnder the.Nute.searnd.to aazounts gayabte under paragrapH Z: .
<br /> thud,to inte�est due;fourth.to pri�ctpal.due;snd tast.w aay late ciiarges dae uiider the Nate.
<br /> 4.C6argesi Lims.Barrower shall pay all t�es,assessmeats,charges,fines aQd impositions amn'butabte to the Property
<br /> which may a�tain prio�ity over tt�is,Security Insdw�ni;and LQasPlwid payments or groimd rents. iF any.Borrower shali F�Y
<br /> • th�se obligat�ons in the manaer provided in para�rap6 2,or if not paid in ti�at maan�r,Bormwer shall pay them on time di�ectly .
<br /> w the person owed paymeut 8orrower sGall promptly fumish to Lender all aotias of amounu to be paid nnder this paragrapb. ` ,
<br /> if Basrower matces dtese payffients direaIy.Bure�a�r shall prompfly fiunish so Lender ceoeipts evidenc�ng the payta�nts•
<br /> Borrower shall pmmptiy d�aige�91�en wiuch 6as prionty ove,r this Security Tnswment aat�s Botmwer:(a)agnes in
<br /> wrItmg to the paymeni of the.obligation secured hy the lien in a manner acoe�tahle to Lender,(b;contests in good faith thc liep
<br /> by.oi defs�ds against enforre�mnt of the�ien�,iep! proc�oediags arhici�in the i.euder's�nion o�ate to pr�vent xhe ,.
<br /> enforcemem of the tien:or(c)s�.s frnm the holdes of ths lien�agneement sati�factory to q.ender snts�tda�atmg the lien co.
<br /> tRis Sewrity Instrau�en�If Lender detsrmine�that any part of the Pca4PertY is sisis�e�x to a lien wtuch may auain priority wer .
<br /> dns Security Inswr�nt,Len�er maY$ive Sortower a t�tice identifyinS the l�en.Borrower shall satisf�i tlte lie.�►ar take one or '. _'� �
<br /> - - m�e�f tbe-a:6oas set forth above wittia I�days oftTie��-ncr�;af aotioe. '- -
<br /> 5. H�Ld O!PtO�insn�,.$prtpWCl�ha1F:ta�►.�Y itnprovemeats nnw existing or l��flter eracted¢�.the
<br /> property insure3 against toss by fue.6azards h►clud within d:�.xerm "ezteaded ouverage"aad any other�ds,.iap: '�S
<br /> floods or.ftoodin$.for which Lender�equires insuranre.Th6s insu�anse shall be maintaiaed ib the amowus s,md�'or the penods
<br /> . tPiat L.ender m�ures.�'he insuiance ratrier pmvidiag t�e��ce.sball be ctwsen by gomnwer subjea ta 1C�iuter's appr8val
<br /> whic6 shalT aot BG unreasonably with�eld. If Borm�cr�i,.fails to maintain coverage describc,d above. Le�der may, at I,ender's
<br /> . option,o6tain caveragc w protect Leader's rights in ti�v f'ropertY ia a�urdance arith pazagraph 7.. � .
<br /> ' pll i�ntance poliries anA renewats shall be acceptable to L,eIIder and�shaU incIude a standard mortgage clause.Lender.
<br /> � shal!have che right to hotd the policies and n�wats.If Lender fe<"'�.iir�s�Borrower sliall promptly give to Lende�all r��ts of
<br /> paid premiums and renewal r�dces.In the evenf of loss,Borcower sLall give pao�pt notiee to the insu�noe c�rtier and 1-ender•
<br /> t,end�r may make pmof.ot.loss if not made proarpily by Borrower. ;.< �
<br /> tJnless Lender aad?.�asrowes oiherwise agree w wnttng,insnrance proe��sa11 be aPp1i�to r�sto�tion or re�vc of tbe
<br /> . Propestyi dasagea,6f t�4e"iestoretion or repair is eaonomicatly feasible and Leader's seauity is not te,sse�ed.If the�stnrati�or. �
<br /> re�air is r.s�z economically feasibie or iender's secudry'woutd be lessened.the in��.anrA p�ceeds shall.be appligd w the sums
<br /> secnred b�,sais Sscurity Instnimenc,whether or not then dae, weth any excess paid to Borrower. If Borrower abandons tbe
<br /> Property,.or does not answer within 30 days a notice from i.ender that the insur�noe cariier 1�as uffered to settle a ciaim,then
<br /> �,ender may�wllsct t�e insuraase proceeds. Lender may ase the proceeds to r�ir or restore.the Property or W pay aums
<br /> serure�by t�Is Secuntvr Ilmstrumer:t,whether or nnt thea due.The 30�day period vr�ly i begin when the aatice is given.
<br /> Ualess Lendei��BorraRer othenvise agree in wridng, any lication of pmoceds to principal shalt not extend or •
<br /> postpone t�E 6ae date of the montlily pa}rm�eats referred to in para�s i an4 2 ar chauge c5�e amount oP the paymerits. If � .
<br /> u�der pangrapb 21 the Properry is acqu�red isy Lender,Boaaarer's right ta airy insurence pcX`u�?ips and proce�ds resutting from.
<br /> damage w the Property pdor to the acquisition sii�all�to t.ender to tfte exteza�3.�r,�¢sums seca.ired by tlus Savrity Iasuament
<br /> ��'; immediatety prior ta tbe ac�isitioa. � , � � ;�. •.• � • ' i:;
<br /> � � . 6.Occnpancy.pi cservatloa,Maintenance andl�totection of the Propecl;�r��za�rdww's l.oan ApplTic�fion;I.easeholds. �
<br /> .. $orrowec shaU oaa�py,establish.and use the Property as Borrow•ee's principat re�x�ncc withi�."aixty days a�fter the execution of� .
<br /> this Seatrity Iastniment and sha11 wntinue to occupy the Prope�,�».�s.Barrower's principal r�ideace for at teast one yeur after
<br /> ttt:,datc a;ccc�paccy.�u�tcss Lciid�r o3he:wise asrces is�ti�,r��inc�onsent shall not be anreasonably vrithhe!d,o.un2c�s -
<br /> extemiating�circumstances exist wluch are beyond Bornswe�'s.v,;�:hol. Borrowep shaU nat destroy�,damage or impair the
<br /> �ro�ty,��aw+.�e Prop:°.*t=, to deteriorate, or comt�t��aste'a��t►e Prope:ty. �oaower shall bc in defauIt if any forfeitnre _
<br /> �..irtion ot�;�ceedin8,wbether rivil or cnlminal.is�thar i�,Leader's�aou�,-fai1th judgment oould resut�•,�i�.'forfeitute offfie- - • -
<br /> . Propc,rty au mtAerwise materially impair the lien createci bq this So�,i�ry insuomeut ot LeMer's securIty i�f�t.Borrower ma}�
<br /> cu,�suct►a dcfault aad rei�°tata,as pmvided in p�agraph 1$.by^,::�sin;eh:a�tion or proeeed�ng to be dis�nnissrd with a rulieg .
<br /> � � tiuit. in I.ender's good faith det�m�ination. precludes forfeinue of the Borrower's interesb i�t:t�Ce Prope. , or other lnaterial
<br /> imp�irment of t$e tien created Dy this Security Iastrument or I.ender's security interest. B�x4wer,sl�ai��o be in default iE
<br /> � Borrawer,during the toan application process.gave materially false pr inacewuto Information or stateme�t:��4�_I.ender(or failed
<br /> � ` to provide Lender wlth atry materiai infamiation)in connection with the loan ea�d�.'naed by the Note,inciuunsg.but irot limited .
<br /> to,cepresentutions cancammg Bomower's occupancy of the Propeny es a prin�i�-al residence:,Af this Socuriey Instrument is on a
<br /> leasehokl. �omower shal! comply with all the provisions af the lease. If Borrower acquniCS fee title co the Property. the
<br /> leasehois�a�.d the fee title shall not�wrge unless Lender agre�.c to the merger in writing.
<br /> 7.�LectEon of Lender'��Righta in the Froperty.If Bonower faiJs to perform We covenants and agreements oontaint�in
<br /> •this Security Insttument.or there is a le�al proeeeding Wat may significantty affoct Leader's rights in the Property(such as e
<br /> � pmoePding in banlwptcy,probate.for wndemnatipn or farfeiture or to enfara�laws ar regula6oms),then Lender may do artd
<br /> ,. . pay for c�i�.atever is necessary to protect•the value of the Progerty and Lender's rights in the Property. Lender s act�ons may
<br /> , ��ciade �aying any stims secured by a lien which has priority ovet this Seeurity Instnunent. appeanng ln court. paying
<br /> reasr�nable attomeys'fees and emering on the Property to make repairs.Although Leader may take action under Wis paragaph -
<br /> 7.Lender does not have to do so.� . .
<br /> . Any amounts disbursed by Lender uader this paragraph 7 shall become addIdona! de6t of Borrower securet! by this
<br /> Security Instrument. Unless Borrower and LendeT agree to other terms of payment.these amounts;shall bear interest from the
<br /> date.of d'u6uisement at the Note rate and shnll 6e payable, with interest, upon notice frum Lender to Borro�ver requesting
<br /> • payment. • �
<br /> S.Mostggge Lttsurance.If Lender required mortgage insurance as e cotidition of making the loan scxumd by this Seeuriry .
<br /> Instmment,�Bvrrower shall pay the premlu�required to maintain the mortgage insurance m eff�et. If. for uny reason, the
<br /> mortgage insursqce asverage requlred by Lender lay�es or ceases to Be in effect,Boao�ver shall p�y the premiums required to _
<br />= obtain caverage su6stanGally eguivalent ta the mongage insurance previou�ly in effect,at�oost substantialiyeqnivalent to the ,
<br />' oost to Borrower of the mo¢tgage jnsurance previously in effect� from an attemate mongage insurer approved by Lender. If =
<br />= ' vo�,s w a fortn 3fl28 9I90, `
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