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<br /> R The Funds Rhall be hcld in an inseitution whose d�pc�sits ure insured by n fecierai ngency, insaumentality, or entity `�
<br />� (incleding I.cnder,if Lender is such an institutian)or in any Fedcrnl Home I.o1n Hank. Lcndcr shull npply thc Funds to p�y thc _
<br /> Escrinv Itcros, L.cnder mny not chargc i3�rro�vcr fa��halding and o{tplyin� thc Funds, nnnunlly nnnlyiin�;thc cscrow account.or �
<br /> vcrifyinL tl�c Esci�ow itcros, unlcsy[.cndcr pays Uorrowcr Intcrcyt on thc Punds nnd npplicnblc law permits I.cndcr to nmkc:,uch
<br /> n chnrgc. Howcvcr, Lender mz�y rcyulrc i3orro�ti�cr to pny n oitc-!imc chur�;c for un iitdcpcndcnt rc.d cstiuc lux rcp+�rtin�;scrvicc
<br />�; uscd by I.,cndcr In cannecti�m with Ihis Inan. �mlcss iipplicublc inw provides othcrwisc. Unfess un ngrccnscnt is nu►dc or �,:'
<br /> s,� nppllcublc luw rcquires Intcrest to bc��aid,i.endcr shull nc�t bc rcquirccl ta pay Borniwcr nny intccest�ir c;�rninge un thc Funds. -
<br />� t���rrowcr nnd l.cndcr m;ey a�n:c in writing, ho�vcvcr, thut iutcrest shnll bc p��id�m thc Fuuds, I.en�lcr shnll glvo to Hor�vwa�, __
<br /> - �rithnut chargc. iu�annui+l uccounting nf thc rimdy, r;h�swing crcdits uud dcl�itti to thc �und,iuid thc purposc ti�r whlch cnch ��
<br />�,� dcbit t��Ihc Nunds wi�s mndc. 'Tlic Pundw urc plcdgcd uv iulditi�►nnl tiecurlty for all sums nccurcd Uy ihfti SccurUy Instrd�mcnt. _
<br /> IP tl�e!'unds hcicl by l.ender cxcced tl�c unn�unts pennitted to he h��ld hy applicul�le Inw, I.ender tih�dl uccount to Hurro�ver �
<br /> fnr thc cxccss F�md�; iii ncmrd�mcc wltl� tNc rcqulrcrocntw n� iiNpiicnbie ii��v. it tiic umrnui►ui ii�u i�un�i,ii�i�;y .ti���c�..:�;:� `--
<br /> �� Untc iti nnt huflicicnt t��puy thc P?scn�w ltcros wlicn duc, Lcndcr may si►nodfy fforro�vcr in wrlting,und,in.ruch a►sc Narrowcr _.
<br />_� shtdl pi�y to I.cndcr thc umount ncccssnry to mukc up thc defi�:icncy. Hnrr��wcr sh�dl miikc up thc dciicicncy in no morc thun
<br /> �:-y twclvc monthly paymeut�;,nt L.endcr's solc dfscrcdon,
<br /> �:] Upnn paynunt In full of nll sums sccurcd by t{�is Sccurity Instrumcnt. L.cndcr shull promptly rcfund to Borrowcr any
<br /> - FunJs Imld by C.cndcr.If, undcr pnri�gruph 2l,I.cndcr shull ucquire or scll the Propcny, L.cndcr. �rior to thc acquisition or sulc
<br /> - of thc Proparty, sliall npply any Funds held by Lcndcr i►t thc Nmc of ncquisition or salc as u credu ngainst thc sums securcd by v
<br /> � this Security Insuument.
<br /> 3.Applicatlon af Paymente.Unless applicablc law provides othenvise,ail payments reccived by I.ender under paragraphs
<br /> � 1 .md 2 shufl be appllal: first. to uny prepayment chargcs due under the Note; second, to umouuts puyable under pnragraph 2:
<br /> - third,to interest due;fou�th,to principal due;and last,to uny late cl�arges duc under the Note.
<br /> 4.Charges;Licns. Borrower sl�all pay ull tuxes, assessments, charges, fines and impc�sitic�ns atcributable to the Property
<br /> — whi�h may attain prtority over this Security Instrumcnt, and leasehald payments or ground rents, if any. IIorrawer shall pay
<br /> � these obli�Rtions!n the mann�r pmvidr,d in pnragrnph 2,or if not pald in that manner.Borrower shall pay them on time directly
<br /> = to the persun uwcJ puy►i►eut. Borower shall promptly furnish to L,c;nder all notices of emnunts to be paid under thic pa�pgraph.
<br /> °° If Horrower makes these payments directly,Borcower shidl promptly furnish to Lcnder reccipts evidencing the payments.
<br /> _._ Borrow�cr shtill promptly dischar�e uny lien which has priority over this Security Instrument unless Borrower: (a)ag�•eas in
<br /> -- writing to the payment of the obligation securcd by the lien in a manner acceptable to Lender;(b)contests in good faith the lien _
<br /> — by, or Aefends against enforcement of' the lien in, lesal proceedings which in thc Lender's opinion operate ta prevent the
<br /> enforcement of the lien; or(c)secures feom the holder of the lien an agreement satisfactory to Lender subordinating the lien to
<br /> this Security Instrument. If L.ender determines that any part of the Property is subject to a lien which may uttuin priority uver
<br /> this Security Instrument, Lender may sive Banower a notice identifying the Ilen. Honower shall satisfy the licn or tuke one or
<br /> more of 1he actions set forth above within 10 days of the gtving of notice.
<br /> 5. Hau►rd or Property Insurance. Borrower shnit kecp thc improvements now cxlsting or hereufter erectcd on the
<br /> Prope�7y insu�ed against loss by fire, hcizzards included within the term "extended coverage" and any other hnz�rds, includin�
<br /> tloods or floading, for which Lender requires insurancc. This insurance shnll be maintained in the amounts and for the periais
<br /> that Lender requires. The insurance currier providing the insurance shall be chosen by Bon•ower subject to I.ender's approval
<br /> which shail noi be unm,�uv,�nbjy wiiS"i�'icl�. I��ar:.u�r fadls i�rn�irtr.in cov�rage rl�.e.ri��a�e, L?�!�ler mav, at f rnder'c
<br /> option,obtain coverage to p•totect Lender's rights in the Pr�peRy in uccordance with paragraph 7.
<br /> All i��surance policies and rsnewals shall be ucceptable to Lender and shall include a stundard mortgage cluuse. Lender
<br /> shall have the right to hold the policies and renewals. If Lender requires.Borrower shall promptly give to I.ender all reccipu of
<br /> paid premiums and renewal notices.In the cvent of loss,Borrower shall give prompt notice to the msurunce carrier and I.ender.
<br /> Lcnder may make proof af loss if not made promptly by Bonower.
<br /> Unless Lender ar►d�orrower otherwlse agree m writing, insprance praceeds sf�nll be applied to restoration or repalr of the
<br /> Property damaged,if the restoration or repair!s economically feasible and I.ender's securtty�s not lessened. If the restoration or
<br /> rcpair is not economically feasible or Lender's security would be lessened,the ansurance pror,eeds shall be appliai to the sums
<br /> secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the
<br /> Property, or does not answer within 3Q days n notice from i,ender that the insurance carrier has offered to settle a claim, then
<br /> L.ender mny collect tha insurance proceeds. l.ender may use the procer,ds ta repair or restore the Property or to pay sums
<br /> secuted by this Security Instrument,whether or not then due.The 30-day period will begio when the notice is given.
<br /> Untess I.ender nnd Bonower otherwise agreo in writing, any application of proceeds to principal shall not extend or
<br /> postpone the due dute of the monthly p�yments referred to in parugraphs 1 and 2 or change the nmount of tho paymcnts. If
<br /> under pai�agraph 21 the Properry is ucquined by 1.ender, Borrower's right to any insurnnce policies and proceeds resulting from
<br /> damage to the Property prior to the ac.7uisition shall pass to Lender to the extent of the sums secured by this Security Instrument
<br /> immed�ately prior to the Acguisition.
<br /> 6. ikcup�ncy,Preservation,Matntenance and Protection of the Property;Borrower's I.oan Applfcation;Leaseholds.
<br /> Ho�rower shall occupy,estublish,und use the Property as Borrower's principal residence within sixty days after the execution of
<br /> Ghis Secutity Ins�rument en�±shA�! continnr t�occupy the Property as Borrower's princip�l residence for at least one yeur after
<br /> the date of accuDancy,unless Lender otherwise agrees in writing, �vhich consent shall not be unreasonubly withheld,or unless
<br /> extenv�ting circumstances exist which are beyond Borrower's wntrol. Borrower ahall not destroy. damuge or �mpair the
<br /> Property, allow the Property to dcteriomtc, or commit waste on the Praperty. Bonower shull be in defattlt if any forfettu�e
<br /> action or proceeding,whcther civil or criminal, is begun thut i�i Lender's good faith judgmcnt wuld result in forfeiture of the
<br /> Praperty or otherwise materially impair the lien created by this Security Instrument or L,ender's security interest.Bottower may
<br /> cure such a default ar,d reinstete,as provided in paragrnph 18,by causing the action or proceeding to be dismissed with u ruling
<br /> � thnt, in Lcnder's good fnith detenninution, precludes forfeiiure of the Borrower's interest in the Propeny or other material
<br /> impairment of the lien created by this Securiry Instrument or L,ender's security interest. Borrower shall also be in default if
<br /> - Borrower,during the loan application process,gnve materially f�lse or inaccurate information or statements to Lender(or failed
<br />--- to provtde I.ender with any material information)in connection with the loan evidenced by the Note. including,but not limited
<br /> to,representations concernmg Borrower's occupuncy of the Propeny as a principal residcncs.If this Security Instrument is on a
<br />-- leasehold, Borrower shall comply with all the prov�s►ons of the lesue. If Borrower ncquires fee title to die Property, the
<br /> s _ Ieasehoid and the fce title shall not merge unless I..endcr agrees to the merger in writing.
<br /> 7.Protectlon of Lender'b Rtghts in the Property.If IIorrower fuils to perform the covenants and agretments containcd in
<br /> this Security Instcument, or thcre is e legal ptoceeding thnt may significtintly affect Lcnder's rights in the Property(such us a
<br /> ' proceeding in bank[uptcy, probate, for condemnation or forfeiture or to enforce Inws or regulations), then Lendar may do and
<br /> - Fay for whatever is necessary to protect the vnlue of the Property nnd i..ender's rights in the Pro�x:rty. Lender's actions may
<br /> - include paying any sums secured by a Ilen wl►ich hos priority over this Security instrument, appearing in court, paying
<br />- rcasonable attarncys'fccs and cntcring oai the Property to mnkc repairs. Although L.endcr may take action under this paragraph
<br />_-� 7,Lcndcr docs not have to do so.
<br />-:,,:� Any c�mounts disburscd by Lendcr under this parngraph 7 shall becomc additional dcbt of Borrower secured by this
<br /> ��_: Security Instrument. Unlcss l3orrowcr nnd i.cndcr agrcr to�thcr tcrms of paymcnt, thcsc amounts shall bcar intcrest from thc
<br /> �-'° dnte of disbuescmcnt at die Note rntc and shall be payuble, with intcrest, upon notice from Lendcr to Bonowcr rcquesting
<br />��� payment.
<br /> '�� S.Mortgege Insuranee.If Lender re4uired mongage insurance as n condition of making the Ioan secumAl by tliis Security
<br />'� instru:nent, Borrower shull pay dic premiums rcquired w maintuin the mortguge insurnnce m effcct. If, For any reuson, the
<br /> ��.� mortgage insurance wverage n:quimd by L.cndcr lapses or ceascs to be in cffc:ct, Borcower shall pay the prcmiums rcyuirecf to
<br /> �-`' ' obtain coverage substantially equivalent t►�the mortg��ge insurnnee previously in effect, at u cost subst�ntially equivalent ta the
<br /><'�k� cost to Bon•ower of the mortgage insurance previously in effect, fmm un alternate mortgage iusurer npproved by Lendcr. If
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<br />.-_,�� , . . PeOe�o�a ' ' Form 3028 9l90
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