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<br /> 'Fhe Funds sball 6e,hetd in an insdtution whose depnsits are iasure� [ry a fe�, tY �-_
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<br /> ' . (insi��g Lxnder.if i8nder is snch an institution)or in any Fede�al Home Loan Bank.d.easter shall apgly the Funds to pay t�e _,
<br /> .':�c° � Escmar Ite�s.Lender snay not cliarge Borrower far holding and appiying the Funds.annually analyzing the escrow account.os �
<br /> S ` � . vetifjrin8 tlie Fsccow Items,aniess Lender pays Borrower interest on the Fu�s and applicable law permits L.ender to malce such � �.
<br /> ,�+1,: ��.` " ' /.�' . a charge.Hov�ever,Lendet may require Bormwer to pay a on�time charge fur an indepe�dent�eal estate tax[eporting service �_.
<br /> used b}r Lender in oonnection vn t h t h z s Ioan. n n less app l i c a b l a l a w p ro v i d�s o t h e�n s e. i J n l e s s a n a g r e e m ent is made or �.
<br /> �" �'. �', .`; � applica6te fadr�eqaires inSer�st to b:paid,Lender shalt.not be requ�l to pay Bormwer any itttet�eSt or es�m�ngs on the Funds. =
<br /> � �`..G.�`". . Bomuwer and ixnder may agne in wreting,hotivewer>t T�a t i n t e r e s t s t a a l}b e��d on tbe Fuads.Lender s6s11 g ive to 8orrower, �
<br /> . ,.�r�,'� ' without charge,at�:aunnal acxounting of the Funds,showing credits and de6its to the Funds and the purpose for whic�eacfi �:
<br /> • '� ' debit to the Funds�made:The Funds aze ple�ged as additional secarity far all sums seQU�ed 6y this Sesurity Insnt�tnent. F-
<br /> A "�r�` 4 . If the Fur�ds�e:�by"I.ender exceed the a�unu permitted to be 6eld by applirable law.i�endcr shall aocount to Borraw� ��'-
<br /> ;`:� for t�e eaeess Fe�s:'sa scwrdance with the requir�ments of applicable taw. If the amoun!of the Funds hek!b}r L,eader at.� �
<br /> , ; � tim���ot S��i�a pay tlre Escrow Itenps wheq due,Lend$r may so natify Barrower in w►ri6ng.aad.in surdi case Borm�:Ez R
<br /> r�,.�-`.�-� " � . shall pay.tn Leuder'1he_amnwu ne�to ak�tke vp the deficiency. Borro�rer shalt make ap the defic�ancy in no mor�tban �_.
<br /> ' �4� `i�."•: � twelve momWy payments.at Leader's soie discrerion. - � . - - -- �-- - . ..-.� ,: �� . � � �..
<br /> : �:,::,,`,.: �_`� � Upon.payiaent ua full of all sums secured by�this 5ecurity Ir�stiumen�Lendei sl��ll.promptly refvnd i�o Borrowes aay �.
<br /> _ "•'�•.��. ; ,::•:r, Funds hetd by Leader.If,uades paraSrap�C 23.Lender shall acc�uire or selt the Propezty.Lertder:Praos to the acquisition or sate �;.
<br /> .�,�;���.. :.:z;4- . , of the Pmpecty.shall apply any Fuqds held by Lender at the tisne of a�quisft�on or sate as$cnedit aga�nst the sums s�ared by ' _
<br /> ,� � � -� this Secnrity Instrument.
<br /> �� �_.,
<br /> `� �.Applicattaa of F�ynaents•Unless applirable law piovidcs,otherwise.all payments mccived by Lerider uttd�r para�raphs
<br /> .'4,,: . _�. :� `�' } ' 1 and 2 shal!6e applied: first.to anY prepayment char6es d�e under tfie Nate:second,to tuttopnts payable uc�de�r paragraph 2: _
<br /> ��.�.�;
<br /> :�:r;;�:;:�'�-�•�_;•� third.to lnte�st due:fourth.to prcncipal due;and tust.to t�ny late charges dae uttder the Notc. ,
<br /> :._ ' '��•• � 4.C�iargc�;l.teAS.Borrotiver shall pay all taxes.ass+essments.charges.fines aad impositions attributabte to tha Property . -
<br /> �:'�y^�,.. _,_:,.--.r .
<br /> ;.w,^., ,�r����_ v�tuc6 may attain priority over this Securiry Iastrusaent. and leasehold payments or gr�nnd�ents. if any. Bon+awer shall pay
<br /> -�`„_r�,;'.;,''':4s�.� tliese obligadons in th�mann�r prqvide�in paragaph 2.or if not paid in that nrdnner.Bormwer shatl pay them ot�tim�'dim.�xly
<br /> - � - to the persfln owed payment.Borrow�r shall promptiy furaish u�Len+ier alI notices of atuonnts to 6e paid wtder this paragragh. -
<br /> ;; ;,_.;,� -:,,.".�: If Eoaower makes these payments directly.Borrower shall pmmp8y fumish to Leader�eipts evidenc�ng the paymeats. . --
<br /> j:, �..__ Borropver.shali pmmpdY d�rl�arge any Iten which has pnorit}�over tiris Security Instrument unless.Borrower.(a)agrees in
<br /> : • �'` ��. . ..- . w.. to the-paycnent'af the-obligatiomsecutoed-by the lien in�a-manner asceptable�to.Lender;.(b)contests_in aod_fai�theJIe�1_.. ... ._.
<br /> �f`�... 1,��jr. ', . by�defends against enfoncement of the hen in, legal procee�ings whicb in the Lender's apinion operate to preveat the
<br /> q�`€��`-r enforcement of the lien:or(c)secares froin the holder of the lien an agreement satis�actory W I.eader subordinating ihe lien to
<br /> .;:,:t:.
<br /> ::�Y�:,;`,.•�� � this Security Inst;umem.If I.ender determines that any part of the Property is subje�to a lien which may auain priariry wer
<br /> -,--,.,..r ',
<br /> -�, .-4�,._ Uus Secvrity Instrument,Lencier may give Borrower a natice identifying the lien.Borm�ver shall satisty the lien or take one or
<br /> �.'':;'..;,-•`:•,�' ; more af the actions sec forth above aithin 10 days af the giving.of nouce. _. ... :. _ .
<br /> }'�"":;. :'�-- 5.Ha�rd or Plogettq. Insuraace. Barrower sha�i �ceep the improvements aow earisting or hereafter eieeted on the
<br /> -��"�'�` . ---proper�Y ursu�i�nst iossi�p-fire�1�-ard�ircclude�a�ia�t�.ras"extet�de�cev�n�ae�_ot��?<ha�_�ACtuding_._ - _
<br /> �'-��`'''`4•..• • t�oads.or ftoodiAS,far w6ictt Leader reyuires nasdranoe.Tbis insurance shall be maintained in the a�ounts aa�for'�he pertads
<br /> w.�;r�:.��.��:
<br /> ;�.;. �•
<br /> �-��:.E;y,�� . � ' .� , that Leader reqa�aes.'I'he insurance r.arrier���Iding the insoisuce shall be chosen by Borrow-er s���ta L�uer'g approval .
<br /> :;L � �•;- ' which shall not 6e unreasanably withheld. �i�3�orrower fai3s W mainrain coverage descn'bed a6a�.�,:;�der�y,at I.ender's
<br /> �,., ;..:;'�' � o�tion,obtain coverage to protect I.cnder's rights in the G'�ierty in accordanc.�u+�th paragrdph 7. �•
<br /> :' � �, ' All insur�►ce policies an�renewats sUall be acce�zi:P:to Lender and shall inclade a standard�martga;e�se. Lender _
<br /> ,w,: ,��:; shal�riave the right to hold the policies and ten�wals.If II�dzr reqaires,Bosmwer shall prompily give ta Lendea aD reoeipts of , .
<br /> �•.;��,,Y;�;;f.�. ` paid premiums t�.renewal notices.In the event of loss.Barrowes shalt give prompt notice t�a the�surance cazrier and Lendea. .
<br /> �`Y� T,en¢ermay ma'se�mof af9oss if not mad�promgtly by Borrower. .
<br /> - 'l��;�� Unless Lender and Eamower_othenviss agree In�vn�ng,insvrance pracerds shall be applir,d to reswration�or r�air o�the
<br /> `-'���'-=���`•�� lme��erty damaged,if the restoratian or repair is econo��.,�?y,feasibte aad I,epder's se�irity is uot lessened.If the z�stoxation or
<br /> _ .-.raiirri.,Y,g_�..�.
<br /> _-�•- v=-�-�� �p�.is aat economically feas�'�le or Lender's security�r�cild be le�.sened,the�nsurr�proc,eeds sha�t be appEca�l ao the sums
<br /> -=--_;��;� � secured:.by this Security Instnunent, whether or not tIteii due, with any excess paid to Borrower. If Bdrrou-�r�andons t0e
<br /> - ._�-�- Property,oT does noi answer within 30 days a notice from Lender 8�at the insnrance carrier Ilas uffered to seule�r�.claim,then .
<br /> - -__W'�"� � Lender may collect the irisvrance pmceeds. �xnder may nse tl�e proceeds to repair or restore t�.P�operty br to p�y sua�s
<br /> --____--- • secured by this Securiry Ir�stramem,whet6er�r not then due.The 30-day period wiU begin ahen t�:r�etic;e is g►ven.
<br /> ---- Unless Lender and Borrower otherwise aj,�ree ia��riting, aey applicadon of procceds to principal shESII not eztend or
<br /> — postpone the due date of d�se monthly payruenu refe�t3 to in paragraphs 1 and 2 or change the amouat of��payments. If
<br /> under paragraph 21 the Property is acqa�red try lander,Borrower's nght tp any inseirance policiPS.and proceed�rr.esGilting from
<br /> -----_ Aamage tp the Property prior to the acquisitian sha11 pass to Lender w the exteat o£the sums secured by this Secur�ty I'nstrnment
<br /> -�=� immediately prior to the acquisition.
<br /> -=-;�� . 6.Oocapahcy,Preservation,Matntet�ance aad Protedion oi the Fropert9;,�orra�er's l.oan Agplfcatioa;�I.�seholds:
<br /> - � • Barrower shall oocupy,establish,a�use the Progerty ac Borrower's principal residenc�within siaty days after ihe�xecution of . •
<br /> -�'-1=��`:"-"`�� x1�5s Seeurity Instrument and shall oontinue to occupy th:Property as Borcawer's pricac��al residence for at leas�bne year after •
<br /> •---� - z�e date of occupancy.unless I.ender otheawise agrees in wriring,wIuch consent sfiall not 6e unnasonably cu�,i:�eld,or unless
<br /> ._, ,��, �,�� extenuating circ�mstances euist which ass S�eyvnd Bortower's wntrol. Bonower shall not d�-*roy, dart�a$e Qr imDair the
<br /> -��'+�t Froperty. allow the Properiy ta deteriorai,,,or coaanst waste on the Property. Bonower shalZ b�.in defa�:dt�f any forfeitare �
<br /> __.-�;;,,,,�,;�,•� mctiom or proceeding, wfieiher eivil or criminat,is begu�Shat in Lender's good faith judgment a�:d resalt ice forfeiture of the
<br /> -,_= �.;.�� i�ropetty or oxhernise materially impais the 13en cr�a�y thi�Securiry Instrt�ment or Lender's sec�uity inteze3't. 8oirawer may
<br /> _� ��a =-=:� cure such a defaali and reinstate,as provided ia para�k_18,by causln�the actlon or prooeeding co be dismisse�with u ruling.
<br /> - ""'�°�'�'i� that, in Lender's good fai�h determiaatio�. �}rectudes fnr�euure of the Borrower's interest nn�e Property or other material
<br /> =;Ya'�'�w,�';� impairment of the l3en created by ttris Se�y instrtiuneut or Lender's se�ttrity intecest. Bono�,ear shalt'also be i�default if
<br /> - _ yf. '- Laaquer,durin�the loan agplicafian procgs�,gave m2terially false or inacxut�te infortrtation or statements to Lender(or failed _
<br /> s� �"��� ¢ci Qrovide Lender with any er�.::rial information)in connection with the lo�n evidence8 by the Note,iaciuding,lsnt not limited
<br /> -E*w.`Y�::}'°.i �,:. � ' .
<br /> _,f.y;�.-,�.�;,�?;,,. to,representadons wncem'sa�16orrower"s occupancy of the Propert}r as a principal resIdence.If this Security Instiument is on a
<br /> - �"�` � leasei�otd. Hotrower shalt camply with all the provislons of the tease. If Borrower aoquires fee tide to the Property. the =
<br /> �r_.�:J;:;,�}°� teasehold and the fee tide shall not merge unless I.ender agees to the merger in writing. • • �
<br /> -___ =��;:�;� � 7.Prmt�tton of Lender's Rights in tlse l�roperty.if Bonower fails to perform the covensints and ageements contained in
<br /> --'g''�R'���=j# t this Securitx lnstrument. or there is a lega!proceeding that may significantly affect Lender's rights i�n the Froperty(such es a _
<br /> ,..,�,.... �,_,, _
<br /> �•'�=T� praceeding in banlwptcy.probate.for candemnation or fodeiture or to enforce laws ar regutations).then Ixnder may do and --
<br /> - =��_� �ay for whatever is necessary to protect the v�lue of the Propeny and Lender's rights in the Property. Lender's actiohs may -
<br /> •=�^�,.,:•�,�;,,;`�: include paying any sums secured by a lien whlch has prionty over this Securlty Instrument, appearing in caurt, paying __
<br /> '°::�;'s;,��""` xeasonable_attomeys'fexs and entering on the Property to make repa�rs.Althou�h Leader may take action under tI»s paragaph _
<br /> ��� �•:• 7.Lender do�s not have to do so. � -
<br /> � '.' � Any amounts disbursed by Lender und�r this para�raph 7 shall become addittonal debt�of Borrower secured by this ''
<br /> _ ._ - ' Security Instrument.Unless Bortower und Lender agee to other terms of payment,these amaunts shali bear interest from the �
<br /> _'`:�`��-"�~�'�,� • date of disbnrsement at t�$ �ote ratc and shali be payable. with interest. upon nouce from L.ender to Borrower requesting `• �..
<br /> : , � �:,
<br /> - ' .' .'.�.,.'::',�' Payment. ;:
<br /> . . . � .':;:`;, 8.1t�Eortgage Insuranct.If Lenster reqnired mar'�ge insurance as a candition of making the toan secured by this Secur'ity. . °
<br /> •'.�;�'�;;�;-�':' Enstrument.Borrower shall yay the gr�w'ns requiced.to mainttun the murtgage insurance�n ef_'ect. If, for any reason. the I
<br /> � '�'"'' � tnortgage insurance coverage require�by�.ender lagsas or ceases to 6e in effect,Borrower shall pay the premiums required to
<br /> ' ' abwin coverage substantially Cquivalent to the mortga,��insurance previously in effect,at a cost substantiaily equivalent tn the :
<br /> - --, • cast to Borrower of the mortgage msv�ce pieviavs�g in effect: frw►i a�i aSte��ate�zartgage ins�Lr a-pprcwed hy I.end�. Jf ;
<br /> ' � I
<br />-- • vaeo s of 4 Fam13028 9/90 _
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