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<br /> < The Funds shal! be 6efd in an instita6oa arhose deposiu are iasurad by a fedeca! agencY. insuumentality. or entity s�:� � �� `
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<br /> _ '. .=.,�:_ --.,�, t C�ndud'iag I�ender.if Lender is sudi an iauitnrioa)or in azry Fedetal Home Laan Hank.l.ender shall apply the�s to pay the °`_,*<<�e`�,�_`�• .,, `<
<br /> � �. EScnnw items.Lender may aot chatge Eoirowei for hotding and appiyinS the Funds.�ua11y analY'°°S the esc�'°`"'a°°°unt.or .� ,-
<br /> ��- �` ~ `"� verifying the Fscrow Items.aoless Lendu gays Bocrower i�t on the Funds and appfis�ble lavirggrmits I.ender w make such �'` `,> � �- �°�:'
<br /> 7 f f F a cltatge. However.i.eoder mayreq Borrower to pay a ane-time cha�'8e for an independent mal esmte tax r�epoittng servioe � ` •,-�k ,
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<br /> � ° ; �sed by Leadu in oonnection w i t i i�thig Ioan. unfess applic�ble law provides otherwise. U n tess an a g r e a n e n t is m a de or ; ,. :
<br /> ` Borrower an int e c+e s t or eami n g s on the Fuads. " �` `" 'V=`
<br /> ,� �- appli c a ble law reqair�s interest to be paid,I.ender shaU noi 6e re y a i r e d to DaY Y � _
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<br /> `�• ` � , ° t�� Bmrow�and Latder may agree in wTiting. however.tl�at iaterest��all Ise paid an the Funds.I�ender sball give to Borrower. f`` °_�<� ``<:, �;:�
<br /> �� ����� widtwt c6arge.an amroal a000uating of the Funds.showing c�its and debits to the Funds and the parpose for wdich each y ,Y -r: g� -
<br /> t debit to the Funds was made.l7ie Fuads are piedged as additiormi securitY far a!!suau sea��ed by this Sec�rity Instnuneot. � , y `7 �� F ;.
<br /> �; � � � If tite Fts�keW Dy!�ules exc�eed tlte amoums pertnitted to be hetd by applirable law.l.e�der sLali aocoant to Bor[ower, _.`
<br /> � r� for the exse.ss Funds ia accordance with the requirements of applicable law. If the amount of the Funds hetd by LeaGcr at az►y ��,��� a `
<br /> � � time is not s�aeai ta pay the Fstsow Items wh�due,Lender rt�ay so rrorify Bnr�►wer in writing.and.in such case Bonower ;,
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<br /> �:, ;� �, shal!pay to Lender the amnuat necessary to make ap the defeciency.Borrower shall make up tt;e�e Sccency iu no more than c 4 Q � � �
<br /> - '�t � twelve mu�h1Y PaYmears•at i.ender's sote disaetion. .., G � :F::
<br /> � �t.�,� .,_ UPoA PaY� in f u ll o f a l l sumc s e c u re fl by t h i s S e c�r t ry I n s t:v m e m. L e n d e r shail p i n m p t l y nefiend w Sorrower airy ���, . 4 f `
<br /> c� ,� � .,, Funds heid by Leact+er.I1'4 under paiagraph 21.L:�der shaU acquire or sell the P�operty.lender.pnor w the acquisiaon or sate � -,
<br /> � o€!!te Prapeety,shall app{y ury Fands hetd by Irender at the time of acquisition or sate as a cKedit against tfle sumq se�.�ured by " ```„v.,h
<br /> ' £.�F '•`� �S�p pi�t��gaymeats.Unless applicable iaw providES otherwise,aU payments recceived by I.s�der under paragtaphs ��_ ,. 4 � a#
<br /> .�;�''��< °�a,� 1 and 2 sbafl be applied: first,W es►Y P�PaYment charges dae under ths Note:seoond,to amounts paYable under paragraph 2: � . ,.
<br /> t6iid,ta interest due•fourth.to princiPal due;and last.to any late d�arges due under the Note. � t fr`'yn`E _:
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<br /> `` £ 4,C h a i g e�L d�s.B o r r o w e r s h a l l p a y a ll t a x e s,a s s e s s m e a t s,c h a i g e s.fi a e s a n d i m p o sitiong attributable to the Prapeccy s � .:� �,�•�
<br /> ` � whisb may attain prioritq aver this Seciuity L�ment.and leasehotd paym�ts or growtd �eaus, if atry. Borrowu shaU pay ? � -
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<br /> 1 -'`� � ' these a6ligations in the friaEmer provided io g�agraph 2,or if not paid in that menaer,Bazmwer shaU pay them on time direaty �;.� ,, � r ri
<br /> � ` , � 1„ fnmish to Ieader all notices o�Eunonnts to be�d under tttis pac�h. .-
<br /> �%. � ,;. to the person owed payraectt.Bor�nwer shall Pmm�t1Y ,-..:i�:•t � ' `
<br /> .;� _ .� ;} if Borrov�er makea titese payments directly.Borrawer shall promptly fumish w L�der receipts evidencing tde payments. ��.r . , < <..
<br /> � _< Borsower shall pmmpdY discharSe any lien wtuch 6as pr�onty over this Security Instrutt�t unless Borrawer.(a)agc+�es in � ' `_
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<br /> .� .,�•- ` �� `: writing to t6e paqmeni of the obligation secuned by the lien in a mauner acceptable to I.endea;(b)oontests in gaod feith the tien `" '• '�i , �.• � _
<br /> ' ,:j � '` wtucb in the irendes's o n ta ent the �.�
<br /> : by, ar defe�ds against e�onemait of the tiea� in. legai proaedings P� � P�' �t -�'a �
<br /> � f ' errforrement of the lien:or(c)secures from the holder of We li�an agreeme�n sarisfacwry to Lender su6ordinating the lien to ,, �'�* - '�
<br /> ..r;;: Y �.��`, tlus Sausity rn�^..,,P^*_ If I.�tder determines that aay part of the Property is subjecc ta a lieu which may attain priority over - `=f� r;�`-
<br /> •�� J = t h i s Sec�i ry I a s t t u m e n t,L e a d er m a y g i ve Horrower a notice identi f y ing the uen.Borrower s6a11 satisCY the lien or take one or <�';`; Q r:
<br /> ' � ` �-�`' more of the actions set forth above within 10 days of the giving of notice: '
<br /> .t:-° � - r,'°
<br /> _ ��-� � 5.•Haz�+d o�Pco�rty lasasanoe. Borcow� sball tceep the impmvements noar acisting o:hereafter ereected on the :�`5 _
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<br /> f ,Y , ".% ;nsur�cl against loss by fire, ha7ards inciuded arithin the term "extended wve.rage°and aiiy ot6er h�rds,inciuding � -`-" �
<br /> '. .-',.. ;. ..r�::>� ti�or flaodin�.for which Leader requires insmanoe.Tdis iasnrance shall be maintained in the amounts amd for the perioda � `� _.
<br /> = � :' t�at i�det riequues.The insurance canier pmviding the ins�shall be chosen by Bomawer subject to Lender's appraval �.,`�,;r . � ss:'.
<br /> " :;;'. al�ch sha]i not be nnieasonabiy withheld. If Borrower fails w maintain coverage descn'bed above,Lender may,at lender s ;• ,;'= �.,.3 ;
<br /> "_` '"��� • ugtlon.obtain eoverage w pmted Lendec's ri g h t s in t he Property in acoordanee wlth p a r a g r a ph 7. "r 5'.�- e�
<br /> � , � ;
<br /> < ,� AI1 insut-anoe policies and renewals shaU be le w Lender a�si�ll include a standa:d mortgage ctanse. Leader
<br /> sLall have the rIght to hold the pollcies and teaewals�I.�der r�quires.Borrawer shaU prompdy gtve to Lender al1 reoeipts of `�F .;� �}
<br /> . , r Y, p a i d p r e r n i w n s an d r e n e w a l a o t i ce s.I n t h e e v e n t o f l o s s.BOrrower shall g ive p r o m pt notice to the u�surance carrier and 1-�der. � # - f ;'.
<br /> �t,� iender may make gmof of toss if not mzde pmmptty by Bonnwer. � '
<br /> �:c ' ;.,,�:� UNesg I.ender aad Borcower at�erwise agree in writtng.iasuranoe pm c e e d s s h a l l b e app li e+�to�e s t o r a don or r e pair of the --r:'`� . '� `-..
<br /> �P�Y�8�if the restora[�an or repair�S ewrwmicallY feav'b!e a�d La�es's security is not tess�ned.if the�vn or ��
<br /> '�'t� rs not erononucally f�te or Lender's seauity would be fessened,the ins7uanoe proc�ds sha11 be appliod to the snms .� ;� '
<br /> _ �-,� ':�- �by this Sec�uity Iastnttnent, afieiher or oot then due,with any ezcess paid W Borrower.tf Bormwer abandot�s the t :;� " �;, �y.
<br /> ""'`.� Prayeny,or daes nas ansarer withia 30 days a noace.from Lender ihai the iasurance camer has offered to settte a etaim.iJ�n . �_''�' ` ���
<br /> , '' `:,;.' .Lender may callect the inaoranoe pr+oceeds. Lender may use the pm�e�s to repai:or restore the Propeaty or to pay sams � ��`� . . �y :.-
<br /> ` � •:`�'' ' • secuted by this Security Insa�ament,whether or mot thea duc.The 30day perjod wil!begin whea the norice ss given. �" r�,,��_
<br /> ''-,, U n l e s s L e�u t e r a n d B o r r ow e r•atheca+ise a g r e e in writia g. a n y a P Plication of pmoexds to principal shall not extend or :
<br /> :'.. " :.•; :`:` gostpone the due date af the monthly payments refe,sred to in paragraphs 1�d 2 ar change the amount of the payments. I f ! .`,�;"."
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<br /> • r" ` �t uuder paragiapb.21 the Property is acquired by Lendei.Borrowes's rlgt�t to any insarance policies and prooeeds resulting fram 4 � .�----_
<br /> ,' , ' damage to the Pmpeeiy prios to the acquisitton shaU pasg to Lender w the exU�t of the saais secutied by t6is Secanty Iast�nait . --
<br /> ;'ii • � �YLpJ—,
<br /> == immediateiy prtor to the acquisiaon. � �
<br /> ;� r^�.' 6.Qoa�paucy.Qeeservattan,Mainteaanoe and prafedian of the Propetty;Borraw�s Lose Appll�tioa;I.easehoid9. -�}_
<br /> '� Borrowcr sUall axupy.establisb.and ase the Prope:ty as Bomower's psincipal res�dertce wit�is►sixty days after the execation of �,�,�
<br /> � �t `'�:;� this SecurIty In�ment and shall contiaue w uccupy the propeny as Borrourer's principai zesIdenoe fos at leasc.one year after ' � --
<br /> � .: •. the date o!occupancy.m�3ess I.eader otherarlse agrees i»writing.whtch coas�nt shall not be anreasonably arithbeld,or unless . ° g —
<br /> , :. , � pctexn�ating circomstances ex#st which are beyand Borrower's convol. Borrower shall not destroy. dmnage or iaipair the
<br /> ..,
<br /> : � ```r;.'. . Pmperty,allow the Properly w d e t e r torate.or comurit was te nn t he P r o p e rt y. Borrower si�all be in defa�ilt if a n y+f�rfeitnre :�` ' ��.
<br /> �� ` Y='; action or proceedim g,whether civil or criminal.is begun that ia l.eu der's good faith jadgment oonld resutt in farfeitncaa of the :; '
<br /> . ';
<br /> �P�Y ar ot6ercvlse materially iri�gair ttie lien c re a t e d b y t h i s S e c u r iey I n s a u mea t or L e n der's s e e u t i t y 1 t l t e t�e s�B o�ro w e t t u a y ti'�' ' ��",-
<br /> =;;' w r e snch a d�fault and reinstate.ag provided in paragraph 18.by causing the action or procecding to be dismissed with a mling - -
<br /> �that, in i.ettder's good faith detenninadon.pr�lades forfeiture of the Borrower's i nterest ln t he P r o peny or o t her m a i e r i a l -�,
<br /> impairment of the Iten created hy thia Secwlty L�sts�uaent or lender's sesurity imerest. Bmrower shall alsa be.in defmilt if ; � ` .
<br /> �ormwer.duriqg the loan applicadon prooess.gave materialty false or inaacarffie inf o r m a don or statanents to L e n der(ot failed �
<br /> , '. to�mvide l.ender wit6 any material inforn�a6on)in connepion with the loan evIdenoed by the Note.including,but nat limited ', � .
<br /> ; .,�;�.� to.rep�+esentations concelmng Borrawer's occupancy of the Property as a princ3pal residence.it this Securlty Instrument is on a �
<br /> Ieasehold.Boirower sha11 cott�JY with afl the provisions of the lease. If Boaowes soguires fee title to the Fraperty. the , '� , :
<br /> . ,.,;_ ,
<br /> . teasehotd and the fee d@e shall rtot merge unless l.ender agre�to the merger in wridnS-
<br /> �• 9.protectton o!l.ender's Rlgbts in the Property.lf Borrawer fails ta perform the ooveaants and ts ooraadned 1n ��
<br /> ' U�is Securlry Iastrument,or there is a tegat prooceding that may significandy affeq 1-ender's dghts ia t�e P operty(snch as a
<br /> p r a c e e d i ng in banlw pt c y.probate. for condemnation or tbrfelwre or to enforce laws or tegulationv).then Lender m a y do and ;j :
<br /> pay for whatever is necessary to rotect the vatue of the Prope�ty and Lender's rights in t he P r opeRy. L e n der's a M�o a 9 m ay , • . �
<br /> inetude paying aay sums s� by a lien wlilch has prionty over tl�is Security Insunment. appeaziag in court. paying �, ,„
<br /> . ='; . , m�onable attomeys'fees an d ente r jng on t he P r a p e t t y+to m a k e r e p a i r s.Althou g h Lender ma y tatce action unQer this p a r a g r a ph •-
<br /> 7.Lender daa not have to do so. - � :
<br /> ; "'� �. A�ry amounts disbursed by Lender under this paragraph 7 sha11 become additim�al debt of Bormwer secuted by ttils ` .' ,�
<br /> ���:- Seauity Incttument.Uriless Borrower end Lender agres to other tem�s of payment,these amaunts shall bear intetest from the ,. � ` `��.�
<br /> - �,:�;���, date of dis5ursemeni at the Note rate and shall be payable. witb interest. upon notice from Lender to Borrower requesiing ,.
<br /> ��� '+ ��8�Mpitgage Lis[iranee.lf Lender required mortgage i�surance as a condidoa of making the loan secured by this Securiry ' ` '
<br /> �.. �.
<br /> - :��,,.,+ .��• insttument. Borrower st�all pay the premin�nsrequired to maintain the mortgage insuraace in effect. If, for any reason. the • :_.,_ •;�: .
<br /> 'r• ti mostgage iasurance�verage required by L�mdet lapses or ceases to be in eifect.Borrower ahafl pay the premiums required to • r .
<br /> ce e �
<br />-__.F� . µ � , obtain covera g e substmth'ally equivalent to the mortgage insurance previoasty in effett.at a oost substantiaUy equivalent to the ; ,�,. ,
<br /> - . oost to Borrower of the mortgage insurance pnwious ly in effect.�from an a ltemate mortgage insuTer apprav e d by L e n d e r. I f ..�' ':,_.,,.;;�,.
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