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<br /> Thc Nund:; shull bc hcld in �n institution whns� deposity arc insured by a fecicral agency, instrumcntality, ar cntity —
<br /> (inc(udin�l.cnder,if I.cndcr is such nn institutiun)or in any Fccicrul tlomc l.oan Ei�nk.l.cndcr shnll upply thc Funds tc.�pay ihc =.
<br /> !?�;crotv Items. l.endar nnry�mt chiir�e Ilnr�rower for holdinp nnd upplying the Funds. .innually:maly�ing the escro�v nerount, or
<br /> vcri iyin g t h c I i sc ro v�I tc m y, u n l c�s I..�:n d c r p,ry�+t J u r r uw cr intcrc,t an thc I�undy and u pi�licublc luw pc�•mits l.cndr.r to m.:kc+uch �
<br /> a chargc. Ho�vcvcr. Lcnder may require Ho�'ruwer to pi►y u�mc-timc chnrge for un in dcpendcnt rcal cstate tax repuMin�scrvicc �
<br /> ��sc�l My I.��ndar in �:onncction wlth Ihi� Innn, unless .ippliciihlc Inw providcs o�tterwise. Unlcss tm .igrecmen! is madc or
<br /> npplic�ble I;►w requir,a interest to b�pnid. Lender sh��ll not be required tn pay @orrnwer uny int�rest ar camin�s on the Fundti• _-
<br /> l3on�awcr anA L.end�:r nu�y ngrcc in wrnfnB, howovcr, tht�t intcrest shi�ll bc paid on thc Funds. I.cndcr shall sivc to Borrowcr, _
<br /> without chargc, un annunl accountinu of lhe Funct�:, shawin� crcdity und dcbits to thc FunJs and thc purposc far whicli ench
<br /> debit to Ute Punds was made.Th�s Fundi+nre pledBed us f�dditi�nnl securlry for nll sums sccured by this Security Instrumcnt. __
<br /> if die Punds hcld by I.endcr cxcecd tho nmountn permittcd to bc hcld by applicahlc luw,(.,nnJer tilinll liccuunt tu Borrowcr -
<br /> for the excess Funds in accnrdance with tha requiremente of appUcable Inw. If the amount af the Funds held by I.ender nt any
<br /> time is noi sufficlent to pay the�scrow Itr.ms when dus, Lender may so notify Borrower in writing,und, in such case Borrower
<br /> shull pay to Lcndcr tl�c umount ncc�ssary to mlkc up thc dcficiency. Horrowcr shall makc up thc dcficicncy in no morc thun
<br /> twclve mnntldy payment�,at Lender'S sala dis�retion.
<br /> Upon payment in full of��ll sums securcd by this Se;curity Instrumcnt, Lendcr shall promptly refund to Borrawer any
<br /> Futids hcld by L.endcr, [f,under pnra�caph 21. I.ender shidl acquire or sell the Property,I.ender,prior to the acquisition or sale
<br /> of thc Propeny, shull apply any Fundn hcld by I.�:ndcr ut thc[imc of acquisition or salc us a cruiit ugainst thc sums sccurcd by ��
<br /> this Security instrumcnt.
<br /> 3.AppllCUtion o[Ppymenta.Unlcss�pplicnblo law provides othcrwisc,nll p�ryments rer,eived hy l.cndcr undcr paragrarh�:
<br /> 1 nnd 2 shall be applied: �rst, to any prept►yment chttrges due under the Note; second,to amounts payable under paragraph 2:
<br /> third.to interest duc;fourth,to princip�l due:and last,to any late charges due under the Nota.
<br /> 4.Churqes;Liena. Borrower shnll pay all taxes, assessments,ch�r�es,fines and impositions attributable to the Property
<br /> which mny uttain priority over this Security Instru►nent, and leasehold payments or ground rents, if nny. Borrower shall pay
<br /> these obligatinns in thc mnnner providcd in pnragraph 2,or.if nat pnid in thnt manner.Borrawer sl�all pay them on time directly
<br /> to the person owetl pnyment. fiorrower shtill promptly furnish ta I.endcr all notices ot'nmounts to be pnid undcr this ptirag�z�pl�.
<br /> If Borrowcr mukes thcse payments dirccdy.Borcowcr shall promptly fuinish to Lender receip�ti evideocing the paymenis.
<br /> IDo�rawer sh:�1 promptly dischurge any lien whtch has priority ove�•this 5ecurity Instrument udlcs�Barrowar: (a)agrees in _
<br /> writing to the pnyment of the obligation ser.un:d by thc lien In a manr.er ncceptable to Lender;(b)can2cs�s in gootl faith�he lien
<br /> by, or defends a�alnst enforcemunt af the lien in, Iegal proceedings wfiich in the Lender's opinion operate ta prevent the
<br /> enf'orcement of the lien; or(c)secures from thc holder af the lien an ngreemeai�tisf�ctory ta L,ender subordinating the lien to
<br /> this Security Instrument. If Lender detarmines that any part of the Property is sub'ect to A lien which may attain prioiity over
<br /> this Security Instniment. Lender muy give Borrower a notice identifying the lien.�on•ower shall satisfy the lien or trike one ar
<br /> morc of thc nctions set forth above wtthin 10 days of the givin�of notiw.
<br /> 5. Hazard or Praperty Insurance. Borrower shul[ keep the improvements now existing or hereafter erccted on the
<br /> Property insured against loss 6y fire, huzarde includec! within the term "extended coverage" and any ather hazards, includinB
<br /> floods or flooding, for which I.ender reyuir�s insurance. This insurance shall be maintained in the amounts and for tha periods
<br /> �hac t r.nder requires. Tho insurance cnnictr providinA the insurance shall be chosen by Borrower subject to L.ender's appraval
<br /> which shall not be unrrasonubly witltheld. if Borrower fails to muintain coverage described abovc, Lcnder may, uc Lender'�
<br /> option,obtain wvei�aBe to protect Lender's rightR in the PropeRy in acwrdnnce with pnrngraph 7.
<br /> All insurance poli�ics and renewuls sl�cdl tw ucccPtable to Lcndcr and shall include n stzndurd mortgagc clnuse. L,endcr
<br /> shall havo thc right ta hold thepc�licics and renowule. If Lcndcr requires,Barcowcr�shall promptly givc to t.endcr wll rcxclpts of
<br /> pAid premiums and ro�xwnl nmices. In the evem of loss,Darrower shull give prampt notico to Ihe insur�nce carrier s�xl Lender.
<br /> Ixnder nwy makc proot uf Icns if nuc made�►romptly by Barrawcr.
<br /> Unle�s Lender arul &�rrnwcr othcrwise ngrcc in wrl�ing, insutancc puk�ec�cix�I�all ln upplitxl to ressoratinn�r rep��r of tl�o
<br /> Nn►perty dunwgeJ, if lhc restornUan or rcpc�ir is ccauomlcnity f'caxible aixl L.cndcr'x c+ecurity ih re�nt Icssened. If the rcstoration or
<br /> rcpair is�wt economfcully fewlble ur lAndor's r,a;urity wi�uld ix: IcsscncJ,thc insunuxc proceeds shall bc t�pplial to�he suu�s
<br /> secured by this Sa:udty L�strunkttt, whethor or nnt tiien due, �vlth uny exccss paid to Borrnwee. If gorrower nbai�duns the
<br /> kropctty, ur dor,s not answer within 30 days u noticc from l.endcr thut thc Inyurun,cc carrier hus off�ral to setde a claim, thcn
<br /> I.,e�der may collect the insurancc praceais. Lcndcr mny usc thc proceecis to rcpair or restoru the Property or to p�y num�
<br /> secured by this Secu►•ity Instrwu�nt.whettter nr nat tiien due.Tlic 30-dny perlod will btgfn when tlx notice is given.
<br /> Unless Lender and Borrower otharwise ugnee in writing, uny application of proceeds to principal shull not extend or
<br /> postpone thc duc datc of thc manthly payments rcfcrred to in psuagraphs 1 unc12 or change tlw:►nwunt of the pnyments. I�F
<br /> under paragraph 21 tho Property is acquired by Lcnder. Borrower's right to uny insurnnce pnlici�:i and proccxxts resultmg from
<br /> dania�ge to the Propert�prior to the ucquisition sl�nll puss to I.ender ta the extent of the sums sccu.r�xi by this Security Instrumunt
<br /> inm�listely prior tu�ie ucyuisltioj�. �
<br /> - 6.�cupancy,PrescrvANon.Malntenunce and I'rotecNon of the Proptrty;Bormwer's I.e•An Appliratlon;Leasc�holdo.
<br /> Bottower snall occupy,establish,and use the E'raperty ns Bonower's principal residcnce witiii�i sE�:ty Jays after the cxecution of �
<br /> this Security Instrument nnd shall contittuu to occupy the Property as Bonower's principal residcnce for ut Ienst one year efter
<br /> the date of occupancy, unless I.ei�der otherwise agrces in wdting. which consent shall noi be unrcasonably witht�eld. or unless
<br /> eat:nuating circumstances c;sist whtch arc boyond Banower's control. Borrower shall not destroy, damage or impair the
<br /> Properry, allow thc Property to detcriorato, or commit w�ste on the Property. Ilorrower sh�91 be in defnult if any forfeiturc
<br /> actlon or procceding, whether civil or crin►inul,Is begun that in Lender's gooci•faith juelgm�.nt could result in forfeiture of tha
<br /> �rope�ty or otherwise matcriully impair the licn created by this Securiry Instn�ment orLendeYs security interest. Bnrrower muy
<br /> c�ire such a default and reinstnte.ns provided in puragraph i8,by causing the uction or proreedinE to be dismissed with a ruling
<br /> that, in I.cndcr's goud faith determinntton, precludes forfeiture of the Borrowcr's intcrust in the Property or other matcrinl
<br /> implirment of the lien created by this Security Tnstrument or Lender's security in�west. Dorrower shall alsb be in default if
<br /> Bo•rrower.during the loan applicntion process,gave materiully false or inaccurute inf�nna?iora or sttstcments to[.t;ndar(or failed
<br /> to provtde Lender with any material informutian)in connection with the toan evidenc�by the Note, includinB,but not limitcd
<br /> to,representations coneeming liorrower's nccuNancy of the Propeny us a principal residence. If this Security Instntment is on u
<br /> leaschold, Borrowes shall comply witl� :►ll the provisions af the lease. If Borrowcr acquircs fee title to the Propetty, thu
<br /> Icuseliold.a►xl tl�e fec titie shnU not�mergc unlcss Lendcr�grccs to the merger in�vrEting.
<br /> 7.Protectfon of Lender's Itights In the Propetty.If fiorrowcr fails to pertbrm the covenants und agrecments contained in
<br /> this Securiry Instrument,or thcre is u Ic�al proceeding thnt may signiGcantly uffcct Lcnder's dghts in the Prope�ty (such ns a
<br /> proceeding in bankruptcy, probate, for candemnation or forfeiture or to enforce laws or regulattous).then Lender may do and
<br /> pay for whatcvcr is necessary to protcct thc vnluc of thc Property nnd G:ndcr's rights in the Propecty. Lendcr's uctians muy
<br /> mcludo �nying nny sums securr.d by :� lien which hAS prionty over thi� Security instn�ment, appeartng in cou�t, pnying
<br /> ....�._..........�....�e a...�...,wr:.....,..el,o Pr�rwrtv r�n,n�P.�n.�:rR. nlehnuoh t�nder mnv ailce nction under this nunieraph
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<br /> 7,L.cndcr daes not have to dn so.
<br /> Any amount� disbursed by L.cndcr under this paragraph 7 shall becamc additional debt of Borrower secu�d by this
<br /> Socurity Instruntcnt. Unless Borrowcr and Lendcr agree to other tcrms of paymcnt. thcsc t�mounts shall bear interest from thu
<br /> datc of disbursyment at the Notc rate nnd shull bc payable, �vith intcrest, upon noticc from Lender to Borrower requesting
<br /> paymcnt.
<br /> 8.Mortga�e Insuraeice.If Lender required mortgage insurunce as a condition of making the loan secured[�y this Secut�ity
<br /> Ynst•rument, Bottower shall p.iy the prcmiums requirec! to m�intain the mortguge insuran� in effect. If, far finy r�ason, the
<br /> mortgnge insurance coverage requir�i by Lender 3apses or cesises to'be in effect.Bonower shall pay the pr�:miums requir�ed to
<br /> � obttiin covera�c substantinlly equivnlent to the mortgage insur►nce p�'eviausly in effect,nt a cost substuntiupy equivalent to t!^_e
<br />'-': cost to �orrower ofi'the mortgage insurance previously in effect, from.�n alternate mort�age insuser approvec� by Lendc:r. 63
<br /> � � rano 2 oi a Form 3028 9/90
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