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<br /> . �96° �,t➢153�'
<br /> The Pwids shull be hcld in �n institudo�whose deposits arc insured by a federai ngcncy, instrumentaliry, or enlity =
<br /> (iuclttdin� I.cndcr,if l..cndcr is such ai�institution)or iii nny Federal Home Loan Danlc. l,ende►•shall apply thc Fw�ds to pay tiir.
<br /> Eticro�ai R4ms. l.cndcr may not chnrgc IIorrower fo�holelim;�md applying thc Fund,,,umunlly analyiin�;thc cscro�v c�ccount, or '
<br /> vcrifyin�thr.Gscrow Itcros, w�less l.cndcr pays Borrov�cr intcrest on thc Funds and applicablc liav pcnnits l.�;ndcr to mnlce such
<br /> il CItA(�'C. Howevcr, l.ender m;sy rcquire Qorro�ver to puy n one-time charge for un indcpendcnt rcal cstatc tux rcporting service
<br /> ....�,,; �� +,,�;;a�; i;; M;:::::!�^.^. ���:!t� !his �na��. ur:lr: �pp!':cablc Inw nrnvides nthr.rwise. Unlcss an a�recment is madc or
<br /> •�p�►lic�ble luw rcquires intcre5t ta be paid, l.cnc�cr slinll not bc reyuired[o pay Borrower nny interest or earnings un thr,Nunds.
<br /> Borrower c+nd I..ender�nay usree in writinb,howcvcr,that intcrest shall bc paid on the Funds. Lendcr shall give to Fioreower,
<br /> without chnrge, nn unnual nccoun�ing of the Funds,shawing credits nnd debits to the Funds and the purpose far which e.1ch
<br /> deDit w thu run�ls was���aAe. The runds are ple:J;erJ e5 �iclditional security for all sums serured Uy this Secur�ty Instrument.
<br /> If the Aundq he:ld by l.ender exceut the nmounts permitu:d ta bc held by.ippltcable Itnv, Lender shnll uccount to liorrower
<br /> �Qi lI1C CXCFSti Funds in uccordnnce with Uio requlrenicnts of npplicnbla law. If the nmount of the Funds lield hy i.cnder iu uny
<br /> dmc�is nc►t sufficient to pny tDe Escrow Itcros wi�cn duc. l,ender may s�notify Borrower+n wrlting,nnc:E,in such case flnrrower
<br /> sht�ll pay w l.�:nder thc am�unt rtecessnry ¢u make up the dcficicncy. [�orrnwcr sh;►11 make up thc deflcicitry In no more thnn
<br /> �wclvc munthly pnymcnts,at L.cndcr's solc discrc�ion.
<br /> U�xin ps►ymcnt In Pull of ull sums suurc�l by Ihes Sccur{ty Instrument, I.cndcr slu�ll pramptly rcfun�l tu Ikirrowev uny
<br /> Fu��ds lield by l.cnticr, If,undcr paa�graph 21. I.tiedcr shnll:�c+�uirc nr ficU eltc Property,l�:ndcr, pr�or ta thc ucyulsltion or stelc
<br /> uf thc I'rc��xrty,shull npply uny I�unds hcld by I.cndcr:it tUc Umc of ncquisitic�n��r salc ns n crcclit ngafnst tlic tiums sccurcd by.
<br /> �hia Seti:urlty I��strwncnt.
<br /> 3. AppllcWilc�n of D'aymentx.Unlcss applicuble Inw�Srovidrti othcnvlse,nll pnyments receivcd by Lender undcr pamgtuphs
<br /> 1 ��ncl 2 hhnll lx:npplicd:first, tu uny prcpnymcnt rhar�cs duc undcr the Notc; second,to amounts p;►y:►ble undcr paragrnph 2:
<br /> Ilfird,tu intcrest dur.;fou�ih, lo principal ctuc;a�td lust, tn nny late charges due undcr the Notc.
<br /> 4. Cl�erp�cst l,lenH.Boreowcr nhatll pay n111uxcs, �ssassmcnts, charges, fines and impositions attributablc to thc Property
<br /> wt�lrh m�y nttain priori�y ovcr this Sccunty Iresttunxnt, and lenschold payments or ground �cnts, if any. Borrowcr shall pay
<br /> tl�esc obligniiong in thc mm�ncr provia�xf lu p�t►�:sgruph 2.ar if not paid in that mnnner, Rorrower shull pay theni on tim�dircctly
<br /> to tho�wrson owed pnyment. Borrower shnll promptly furnl�;h to Lcnder all natices of amounts to be paid under chis puragmph.
<br /> If E3orrower mnkcs thcs�payments dfrectly.Sqrrower sh+di prom�tly furnish ta Lender receipts evidencing the paymcnts.
<br /> Borrower sl�ull prumptly clischarge nny I(en wi�ich hns priartty over this SECUrity Ynstreiment unless Borrower:(a)ngrecs in
<br /> writing to the payment of die abligation secured by the licn in a manne�acceptable to Ixnder;(b)contests in good faith the licn
<br /> by, or defiends nguinst enforcement of thc lien in,le�nl preceedings which in the i.ender's opinion operate to prevent Ghe
<br /> enforcement af the lien; or(c)secures from tl�r IioDder of the lien un agreement sattsfactory to Lxnder subordinating th� lien to
<br /> this Security Instrument.lf Lenciar determines thnt any par[of ehe Pro�►cny is subject ta a lien whlch may attain priority over
<br /> this Secarity Instrument,I.endcr mny givo 8orrower u notico identifyino 33�e lien. Borrower sliall satiafy th� lien or take one ar
<br /> more of the actions set forth nbave wuhin IO days of th�giving of notice.
<br /> S. NAZArd or Property Insurance. Bonower sh;�l keep the improvements now existing or hereaftcr cr�ecctod on the
<br /> Property insur�aganst loss by fire, hazards iucludcd within the term "extendeci coverage" and any other hazards. includin�
<br /> floads or flood9no, for whirh Lender requires insurence.This insnrancc shall be muintuined in thG amounts and for thc pericxls
<br /> thut I.,endet requires. 1'�u:insurnnce carr►er prc�viuiug n.iio����urr.cc s:�:. �C C�:`w=::h�Anrrnwnr cnh���f tn Icnrlcr'c annroval
<br /> which shull not be unrcnsonably �vithheld. If Borrower faias to mainta9n coverage described ubovc, Lcnder mny, at l.ender a
<br /> option.obulin wvernge to protect Lender's rights in the Property in necordance with paragraph 7.
<br /> All insurance pol'acies and renewals shal! he acceptable to Lender and shall include a standard mortguge clnus�. Lender
<br /> shall huve the right to hold t}te poltcies and rene�vals,lf Lender requires,Forrower shall promptty give to L.ender all recetpts of
<br /> puid prcmiums ancl renewnl nonces.In the event of loss,Borrawcr shal�give prompt notico to the msuranc�carrier and L.cnd�r:
<br /> Lender may mt►ke proof of loss if not made prornpily by Borcower.
<br /> Unless Lender and Borrower other�vise ugree in wntin�,insuranse praceeds shxll be appliod ro restoration or repair of tho
<br /> Propeny dmnaged, if tho restorati�n or npair is economically fcasible nncl Z,ender's secudty is not lesscned. If the restoration or
<br /> repair is not econornicully feasible or Lenc�r's security would bc tessenad,the insurar►ce proceeds shnll bc appl�ed t6 die sumc.
<br /> secured by th�s 5�ci+rity Instrument. whettler mr nat then duc, witti �ny excess paid to Bonower. If Borrower abandons thz.
<br /> Properey, or cioes not answer within 30 days A notice from Lender thue the insurance carcier has offere:d to settle a clalm,Uten
<br /> I.ender may collec:t the insurancc prc�ceeds. Lcr.der may use the proceecls to repair or restore the Yroporty or to pay suma
<br /> se.�;utui Uy this Securiry Instn►meni,whether or not then due.The 30-dny period will begin when the notice is given.
<br /> Unleas I,ender and Bonowcr othcrwise �gree in �vrlting, any npp�tcation of proceeds to principal shall not cxtend or
<br /> postpone thc �iuc date of the munthly payments refcrred to in para�raphs 1 and 2 or change the amount of the paymento. if
<br /> under paragrstph 2i the Nrogerty ts acqutrec!by Le�we►�. BatruK�ers ngnt to�ny insurance poiicie�m�u p�u�:c�s�wu�i���b i�wi��
<br /> damage to thc Properry pdor to the acquisition shail pass to I,ender to t�he extent of the sums secured by this 3ecurity Instrument
<br /> immediately pridr,to thc ncquisitien. + II.easeholds.
<br /> 6. Uccupancy,Preservatdon,b4etntenance and�*rotection of the Property;�o.rrower s Loan AppllcaHon;
<br /> Borrower shull cxcupy, estnblish,and use the Properry as Borrower's principal residenco within sixry days after the execution of •
<br /> this Security Ynstrument und shnll continue to occupy thc Property as IIorrower's principal residence for at least one year uft�cr
<br /> . the date of occi�p:i�cy, unless L.ender othvrnise agrees in v✓ritifl�, wkueh consent shall not be unreasonably withheld.or unless
<br /> extenuatiag cirFumstances exist which are beyond Burre�wer's conirol. Borrower shall not dostroy. dumuge or impair the
<br /> Propeny, allow the Property to dcteriorate,or commit wststc un the Pro}�erty. Borrower shall bo in dcfault if uny forfeiture
<br /> action or procceding,whether civil or crimin�S,is begun thnt in I.encicr's good faith judgment could result in forfeituc�of the
<br /> Propercy or mthecwise enaterially impair the lien created by this Security Instrurnent or Lender's security interest. Bono•��r mny
<br /> cure such a c��fault und �tiGistste.as providcd in paragrapl� 18,by cuusin,n the action or procceding to be dismissed with a rn!�n�
<br /> d�ut, in Lcnd:r's �ood fatth determinution, precludcs forfciturr of tt�c Bonower's interest in tho Praperty or othar matealal
<br /> impairment o�the lien crcated by tf�is Security Instntn�t ar I.enc��r's securIty interest. Borrower shnll,also bo in defaulc if
<br /> - Borrower,during the loan application proccss. gave m.aterinlly f�ise or inaccurate informntion or statements to Lender(o:failed
<br /> to provide I�cnder with any material informntion) in connection wiIIh iha loln evidenced by the Note,including. but not limiie�l
<br /> to,representacions conccrcung Borrower's accupancy of tlic Property as a principal residence.If this Sc;curity instniment is on 1
<br /> lc�scholci, B�.:ower shall camply with a!1 thc prov�sions of the tcasc. If Borrowcr acquires fec tide to thc Propeny, the
<br /> Icaschold and the fee title shall not merge u:�less La:nder agrecs to the me�•gcr in w�iting.
<br /> 7.PibtcxNan af Lcnder's Rlghta tn tlie Propert�+.If Borrowcr fails to perform the covenents and agrecments containod in
<br /> this Sccurity Instrument,or there is a Iegal pr�ing that mny significandy affect Lender's ri�t►ts in the Property (such as u
<br /> proce�,�ding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender��ay do and
<br /> Pay for whatcvcr is n+ecessary to protec[ the v�lue of the P�npeny and Lcnder's rlghts in thc Froperty. I.cnder's actions may�
<br /> ��,.�i��a� .�v;nn anv sumc secured bv a licn which has priority ovcr ehis Sccurity Instrument, uppearing in court, paying
<br /> ralsonablc attorncys'fcts and entering on thc Froperty to make repairs.Althoug�Lenacr may[aice aciton unaer cnis paragrapn
<br /> 7,Lcndcr does not havc to do so.
<br /> Any nmounts disbu►sed by [.endcr under this para�raph � shull bccomc additioual dcbt of Borrowcr sccured by this
<br /> Security Instrument. Unless Borrower and[.endcr�gree to other terms of payment, these nmounts shnll bear interest from tlie
<br />- dntc of disUursement at thc Notc ratc and shall bc�ayable, with interest, upon notice fmm Lcndcr ro Borcc�wer rcqucsting
<br /> payment.
<br /> = 8.MorSgage Insuranee.If i.ender r;:qnired rnort�age insurance us n condition of making the laan securcd by this Security
<br /> - dnstrument, �orrowcr shall pay the prcmiums reyuired to m.�intain the mortgnge insur�nce in eftect. If, for �ny reason, tho
<br /> mortgage insurance coverage required by Lendcr lapses or ceases to be in effect, Borro�ver shall pay the pmmiums required to
<br /> • obtain covera�e substantinlly equivalent to tl�e monga�e ir�sumnce previously in effect,at u wst substuntially equiv�lent to the
<br /> cost to Horro�ver of thc mortgage insurancc previausly in effect, fram un altcmate mortgage insurer approved by Lender. If
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