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<br /> � 'fhs Funds shall be held ia an institution vrhose deposits are insured by a federal agenty. insUVmentaliry. or eatity f�_
<br /> `r � (inciuding Lcrtder,if I.ender is such an institution)or in any Federal}dame Loan Bank. Lender shall ap�ly the Funds t�o pay the •
<br /> • Escrow Iteme.LenQer may not charge Borrower for holding and applying the Funds,annually analyzing the escra�y acrount, or �._�,:`
<br /> verifying t6e Escrow Items.�uilrss Lender pays Borro�rrer interest on the I�nnd�asid applicable la�v permets Lender to make such u. ;
<br /> � "< : a char�e. Hotivever.Lender may require Borron�er to pay a one-6me charge for an indcpendent rea!estate tax regomhU service �A .
<br />� , used by l.ender in cnnnection with this loan, unless applica�le law psovides otherwise. untes� an a�zene.-�t is ts� or �;=--:
<br /> , appiicabl�law requites interest to be paid.Lender shall nnt be required to pay Borrower any interest or eamin�s on the Funds. �� �
<br /> Sorrower and l.ender may agree in wrfiting. ttowever, that interest si�ali be paid on the Tunds. i.ender shall give to Bonower. ��_:,
<br /> � without cl�e, an annuul aocounting of the Funds, stiowing credits and debits to the Funds and the purpose for which eash _
<br />' ..� del�it to the Funds wr�s made.Thti Funds are pledged as additional security for a!!sums secured by this Seruriry F��+*��*—n�^_� -
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<br /> • If the Futtds hetd by Lender exceed the amounts pemntted to be hetd by applicabte law, Lender shall aa�ssrt to Borrower , ,
<br /> �,,- for the excess Funds in accordance with tfie requirements of agplicable taw. If the arnonnt af the Funds held by I.ender at any -.
<br /> , = time is noi sufficient to pay the Escrow Items w hen due,L e n der may sa no t i f y Borrow er in writin g,and.in snc�case Borrower "-;°�
<br /> sh:ill pay to Lert�er tlte amnnnt �ary to make up the deficiency. Borrower shall make up the deficiency in no mom than �°;,�,�•
<br /> ` twelve monttily payments.at Lender's sale discrebion. -';c" '
<br /> Upon payment in full of a!1 sums secured by this 5ecurity Instnur,eni. Lender shall prorflgdy refis�xl to Borrovier any
<br /> , . Funds held by Lender. If,under paragraph 21,Lead,�shall acquire or sel!the Property.l.ender,prio*t�ri:�•�squisition or sate .
<br /> :' � of the�mperty,shall agPiy any Faads held by L.�v'��r�_*the wr-e of acquisition or sale as a credi�a�.--�s"h:su�s secured by {�"';';
<br /> `, . '.,":�:�CtiTiTj�jllSWTIICII2. �'r°
<br /> r;�;���t;3 �.�1�plieatiou 6¢x'T��,�_'JcL�s Q�u�tiia:�.w,.�.aa�ns othsrwise.alt paycnents receive�6y i.-W�:�v ur.der pait�raphs
<br />''�'�����.�Y4 1 and 2 shall be applied:f�st,t�amj r��x��.�:ges�due ucder the Not�;second.to arr.a�:=z�pay:-i:`�rt�d�r p3ragraph 2; .�.
<br />`':�'��`�;{.`- third,to interest due;tFourih,w principal due;anc�_ast,ta any lace charges dae u=-uler the Note. •
<br /> ����:�• 4.Cha�ges;I.Ie�s.Bnrrower shaU pay alt taAea,assessmenu, charges. fiAes and imgosidons at[ri�r.rb!�w d�e Property '�-�:
<br /> '"'' ' which may attain priority over this Secunty Inst�vment,and leasehotd payments or ground rents, if any. Borrower shaG Fay ��
<br /> ' �ese obligatians in the ma�u►er provided in paragraph 2,or if not paid in that manner.Eorrower shaU pay them on time directty ���;
<br /> � � to the petson owed payment.Barrower ahali prompdy fumish to Lender a9l notices of amounts to he d under this h. �''''
<br /> P� P�S�P e-;.
<br />, � if Borrower makes these Qaymenu directly.Bortower shall promptly fumish to Gender receipts evidenc�nb the payments.
<br /> � � 8orrower 9hall promptiv discharga eny lien which has priodty over this Se��urity Instrurrtent unless Borrower.(a)agRxs in �=
<br /> �vriting to the payment nf the o b ligation secu r e d by t he lien in a manner accePtnble to LenQer:(b)contests in gaod fuith the lien � _
<br /> . • by. or deftnds ngulnst enforc�ment of the lien in. icgal pnxeedings whic h in thc Lendcr's opinion operate to prevent the _
<br /> ' ' enforcement af th�Iten;ar(c)secnres from the holder of ths licn an n��ecmcro sati.rfuctory to Lender su6ordia-�ting thc lica.to �__
<br /> thls�ccurtty Ins�runteni. If l.cnder detertNnes that nny part of the Property is subject to a licn which map attain Qrtority over • =-=
<br /> , � � this Sccurity Inytrumcnt.Lcnder may give Borrower u notice identifying the lien.Burmwer shall satisfy the lien or take one or �E'"
<br /> maee of the actions set fonh u6ove within l0 days of the giving of notice. __.__
<br /> ' ^ S. Ha�rd or Ptaperiy Iasuruaace. Borrower shall kcep the improvcments now existing or hereafter etected on the =_-_
<br /> • Pn�perty insutrd against loss by 6re. hazacds inciuded withiu the term "cxtended coverage"and any other huzards, includ'sng __�_
<br /> ` ' tloads or flooding,far which Lender requires insurancs.This insurance shall be maentaine�ia the amouats and for the periods _
<br /> � . that Lender�eyuires. The insurancc camer pmviding the insurance shall be chosen by Borrower subject to L�nder's app.-oval
<br /> which shall nat be unreasanubly witfihetd. If Boaower fails to maintain coverage describ�above, Lender may,at Leader's —_
<br /> � option.olsiain coverage to pmtect I.ender s rights in the Property in accordance with parag�aph 7- �
<br />- _ . All insurance policies and renewals shall he acceptable to Leader and shzll include a standard mortgage clause. Lender ���
<br /> • • � • shall I�ave the right to hold the policIes aad renewals.If Lender requires.Borrower shall promptly give w L�nder all receipts of �i_;.:.
<br /> • •� paid premiums and renewal notices.In the event of loss,Borrower shall give prompt notice to the ursurarcce casrier and I.ender.
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<br /> ' I.ender may make proof o8loss if not made prompdy by Borrower.
<br /> - --- Uniess Lender and Borrower othenvise agree in wridng,insuiance pmc�eds shall be applied to�ts.�ration or repair of the �
<br />� '"�"��f.•�° Property damaged,if the restoration or repair is econumically feasible and I.ender s securiry is not lesserr�.!f the restoration or �-
<br /> ,���;,�;�� re3mir is not economically feasible or Lendes's security woutd be lessened,the insurance pc�ce�ds sttaiL Gp applied to the swn.a . �• "
<br /> <k���r'�.:� seaued hy this Sea�rity Insuument, whether or not then due. with any excess paid to 13aerower. If Borrower abandons the
<br /> ':�'=- Frope,�y,or does not aaswer wiL'�in�9 days a norice from F.�nder that the insar2nce caFri�hcs offer�[o settle a claim,then _
<br /> �•'•� I.ender may coltect ef��i*+cst�=F:Exceds. Ieu..aer may use che pracee�s to repair or r�trsie tL•e FrinL erry or to pay sums E+�^��
<br /> secured hy this Saa:ritg Insnumr�.�,whether or r,r:s rI�en due.The 30-day period wiU 6egin when the qut�z.i:'s gtven. --
<br /> tTr1¢ss Lender �i� �arrc�.H o:herwise�,.-� in wria:.a. anY apPlication of pnoc�ds to.prir,sg�l;shall not eatead ar _.�.,
<br /> f' postgar�the due date of the�ue���y paytnents referred to ia paragraphs 1 and 2 or change the amd.;�:c of the payments. If • ��
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<br /> -:��r:., undzr�*�a,,r,�sraph 21 the Property is:�.,,:�.t.�^uired by Lender.Borrower's right to any insutance palicies and proceeds resuLt�ng from �,-- .
<br /> dauaa��m the Property prior to the:r�yuisition shaA pass w Lender to the extent of the sums sxiued by th3s Security!a:�avment �
<br /> immediateIy prior to the acyuisitian. �
<br /> 6.Uccapancy,Preservation.M�intenanoe and Protectlofl oi t6e Property;Borrower's Loan A��CUtton;Leaseholds. �,:�
<br /> • �. Borrower shall occupy.establish,and use the Property as Boaower's principal residence within sixty d.L;a after the eaecution of r
<br />;;;:{;,;�� , this Security Instwaent and shall oentinue ta occupy the Properry as Boaower's principal reside���e�at least one year aRer � �
<br />`�"'ti%•�• � the date of occupancy,untess I.er.de�otherwise agrees in writing, which wnsent shall not���caably withheld, or anless �:� -
<br /> '"%'�� �'; . eatennating circumstances exist crtL�,,n are beyond Borrower's cont�ol. Bocrower shall r.At d�.ra . damage ar im air the w�.�..
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<br /> Property.ailow t3�e Property to deteriorate, or wmmit wnste on the Property. Boaower shall be in drfault �f any forFeiture �,.:
<br /> • , , actio;�or proceeding. whether rivii or criminai. is begun that in Lender's good faith judgment could c�r�tt in forfeihue of the --
<br /> ' � Prorezey or otherwise materialty imnair the lien created by this Securiry Instrumeni or Lender's securic����trest.Bon'ower may
<br />•.,'. • '` cu:e aa:L a default antl reinstate,as Frovided in paragraph 18,by cxusing the action or proceeding to he�ismissed azxlr.a niling
<br />;;,,���:-.:. , that. in i.ender's good faith det�rmir�ion, precludes forfeiture of the Borrower's inter�t i� the Property ar o�:� material r°;�
<br />.�s'i;�:,.•: impairment of the lien created by titis Securiry In�trument or Lender's securiry interes�. I'scrrower shall also be in default if _
<br /> "_.:'; Borrower,during the loan applicatian�racess.gave materially false or inaccurate�nforma2ie�or state��.s to Lender(or faited
<br /> ' to provide Lender with any materia!infarmauon)in connection with the loan evidenced by tLe Note.i:�t��ding,but not limited �_
<br /> ,,,:. ��• . to.representatiom concerning Borrowcs s occupancy of the Property as a principal resideno�.If this 5ecuriry InsVUment is on a -�----
<br />���"��•• Ieasehold. Borrower shall comply with all the provisions of tho lcase. If Borrower acq�,.:ires fee dtle ro the Property, the —
<br /> leasehold and the fee title shall not�rterge unless Lender agees to the merger in wdting. �—
<br /> , 7.pcotection of I.ender's Rig6ts in the Property.If Borrower fails to perform the covenants and agmements contained in —...
<br /> • this Security lnstmment. or there is a legal proceeding that may si�ni�candy affect Lender's rights in the Property {such as a =_..
<br /> � . proceeding in banktuptcy,probate.for candemnation ar forfeitnr�or to enforce laws or regulations), then Lender may do and
<br /> • pay for whatever is necessary to protect the value of the PropeTty and Leadei s rights in the Property. I.ender'a acdons may �.,
<br /> include paying any sums secured by a licn which has prionty over this Securiry Instrument. appearing in oourt, paying
<br /> � . reasanable attomeys' fees and enterin�on the Property to make repairs. Atthough Lender mny take action under this para�aph �`�
<br /> � 7.Lender does not have to do so.
<br /> • Any amounts disbursed by Lercder under this parasraph 7 shnll become additiona! debt of Borrower secured By this
<br /> . , 5ecurity lnstrument. Unless Borrower and Lender agree to other terms of Rayment,these amounts shall bear interest from the �`
<br /> .. date of disbursement at the Note rate and shall (se payable, with interest, upon notice from Lender to Borrower requesting __=
<br /> .., _ payment. ��"
<br />':�":� � f3.Mortgage Iasurance.If Lender required mortgage insurance as a condition of making the loan secured by this Security �---
<br /> ��;;;;':; : Instru.�w°�:t, Borrower shall pay rhe premiums required to maintain the mortgage insurance in effect. If,for any reason. the �-=
<br /> `� �'•�• � raa:c���;,:irs�lrznce aaverage required by Lendi�lapses or ceases to be in effect.Borrower shall pay tfie ptemiums rpquired to �:.
<br /> ' afrc_i�,;,�:erage suh��:ntially e�aivaent to tt:e m�irr��rr.insurance previously in effect.at a cost substantially equivalent to the �
<br /> � cost tt� G�orrower of the mortgage insurance prsvio�sly in effect, from an altemate mortgage insurer approved by Lender. If � :
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