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<br /> i itc runas simii nc iiciu in i:n instilutinn �.viu�sc drpu,i�. �nc iinu���i �y a f^M:rt aF:nc}•, i;:�tn:r.::tt:.^.!:t}•. ar Ctlltt� :
<br /> (includin� Lcndcr, if I.cndrr is surli un institutlnn) nr ii�nny I�r.dcrnl Hnmr.I.nnn[3ank. (Andcr shull,ipply Ihc Funds<<z p:ry thc �`
<br /> Escrow Itcmy. Lcndcr may not churgc 8c�rruwcri'iirholding nnd aipplyinh ¢hc 1'tmds. imnunlly nnulyiing thc csrrow ncruunt. or
<br /> vcrifying thc Escrow ltcros, unlcsti l.cndcr pi�yti purrow6r intcrest on thc F►�ndti und i�ppllcaMc luw permits l.cr�dcr tu nmkc such -
<br /> n chargc. Huwevcr, L.endcr mny rcqui�c porruwcr tu p.�y n i�nc-timc chargc fi�r un independent rc�►I cstutc tux rc�xming :;crvicc _
<br /> u�;eJ by L.ender in connectic►n with �his loun, u�iless opplicahle Inw pruvides olhcrwise. Unlcs� an ngreement is made or
<br /> npplicablc Ic�w rcquircti intcrest to bc puid,LenJcr aMll uot hc required tu pay Borro�vcr uny intcre5t or asunings on thc Funds. '_
<br /> Nurruwcr iuid l.cndcr muy iigrcc in writing, hmvcvcr,thai intcrest shull bc puiJ on thc Funds. Lcndcr shall givc tu Burrawer.
<br /> without chivgc, i�n nn»tud i�crounting �if the Fnnr��,sfruwiny credits und Jebits to the Funds �ind thc pur�x�se ti�r which c:►ch `=
<br /> dcbil to the Funds wu,mudc.Thc Funds arc plcdgedas iidditionul sccuriry for all sums sccureJ by diis Sccuriry Instrumcnt. —
<br /> lf the Funds held by Lxnder exceed thc :�mou nts permitted to be held by apPlicnble law. I.ender shull account to[kirrawer _
<br /> fcir the exeess Funds in i�ccordunce with the reyuirements of applicable li�w. If ttie umount af Ihc Funds held by la�nder at uny -_
<br /> time is nut sufflcient to puy the�scrow Items when due.I.ender mny so natify Ri�rrower ln writing,iind, in such cuse Butrnwer
<br /> shall puy to Lender the umount neccsklry to mak� up thc deficiency. Bor�awer�hall make up the deficiency in no mora than _
<br /> twclvc monthly paymcnts,at Lcndcr's snlc discrction. -
<br /> Upon p�iymcnt in full of cill sums sccurcd tsyihis Sccuriry Instrument, Lcnder shull promptly refund to Borrower any �
<br /> Funds hcld by l,.ender. lf,under paragruph 21,I.cnder shall acquire or sell the Propeny. Lender, prior to the ucyuisition or sale
<br /> iiP thc Property. shall upply uny Funds held by Lendcr.0 thc timc of acyuisition or salc as a credit against thc sums serund by
<br /> tliis Sc�curity Instrum;nt.
<br /> 3. Appllcutinn of Paymeuts. Unless applir�blclaw provides uthcrwisc,ull paymcnts rcccived by Lcndcr undcr parugruphs
<br /> I und 2 shall bc applieci: first, to:�ny prcpuyrncnt char�cs due undcr the Note; second, tu umount,payublc undcr par.�gruph 2:
<br /> third,to interest due;fourth,to principul Jue; anJ lusi, toany late charges due under the Nute.
<br /> 4. Char��s; I.tens. Bonower shall pay ull taxa, assessments, charges, fincs and impasitions attributable to the Property
<br /> � which may attain priority over this S�curity Instrtsmen*_,mzd leaseho!d payments or ground rents, if nny. Borrower shnll pay _
<br /> these obligutions in the manner provided in paragraph 2_or if not paid in that mnnner, Borrower shull puy them on time directly
<br /> to the person owed paynient. Barrower shall pramptly fumish to Lender All notices of amounts to be patd under this paragraph.
<br /> If Horrower makes thesc p:ryments directly,Bortowcrst�all promptly furnish tu Lxnder receipts evidcncing the payments.
<br /> Bonower shull promptly discharge any lien which h�s priority over this Security Instrument unless Bnrrower: (ul ugrees in
<br /> writing to the payment c�f the abligation secured by ihe licn in u manner acceptable to L.ender; (b)contests in good fnith the lien
<br /> by, or defends against enforcemem of the licn in,le�al proceedings which in the Lender's opiniim operate to prevent the
<br /> enforcement of the lien; or(c)ser►ir�s from the holdcr of thc lien an agreement satisfactory to l.ender subordinating the lien to
<br /> this Security Instrument. lf L.ender determines thnt eny part of the Property is subject to a lien which may attain pnoriry over
<br /> this Security Instrument. L.ender muy give Borrowera natice identifying the lien.Borrower shall satisfy the lien or tuke one or
<br /> mare�f the actions set forth nbove within 10 duys c�(ihe giving of notice.
<br /> 5. Hazard or Property lnsurnnce. Borrower sfiall keep the improvements now existing or hereafter crected on thc
<br /> Property insured aguinst loss by fire, hazurds included �vithin the term "extended coverage" and any other ha•r.urds, including
<br /> .1 A .{ H nwln ��r �nn�rwn� T inc�ron � wll m i � n c tl n f�1P ttP In(�C
<br /> fi;,c,,;a; oaling. fur::sir, l..e.. .r reqs. ��• �. his. s.�ce h... �e .a'snta n�i 2 th�as!�..unt_a_.d _r _ � r
<br /> that Lender requires. The insurance carrier providing the insurance shall be rhosen by Borrower subject to Lender's npprovol
<br /> which shall not be unreasanubly withheld. If Bnrruuer fails to muintain coverage described above, Lendcr may, at l.ender's
<br /> option, obtuin cot�erage to protect Lender's rights inihe Pro�eny in accardance with par�graph 7.
<br /> All insurance policies and �•enewuls shall be accepteble to Lende�and sfiall include a standard mortgage clause, Lender
<br /> shall have the riFht to hold the policies and rencwuls.lf Lrnder requires,Borrowcr shall promptly give to I.ender all receipts of
<br /> , paid premiums und renewal notices.In the event of loss.Borro�ver shall give prompt notice to the insurance carrier and Lender.
<br /> Lendcr may m:tke proof of loss if not made promptlyby Borrowcr.
<br /> Unless Lender nncl Borrower otherwise agree in writins,insurance proceeds shall be applied to restoration or repair of the
<br /> Property damaged,if the rastoration or repair is ecemom ically feasible and Lender's security is not lessened.If the restoration or
<br /> • re�air is not economically feasible or L.ender's secunty wauld he lessened, the insurnnce pmceeds shall be applied to the sums
<br /> secured by this Security Instrument, whether or na[iaen due. with any excess paid to Borrower. If Borrower nbandons the
<br /> Property,or does nnt unswer within 30 days c►not ice from Lender thut the insurance carrier hus offered to settle u claim,then
<br /> •• Lender may collect the insurance proceeds. Lendcr inay use the proceeds to repair or restore the Property or to pay sums
<br /> �• securcd by this Seaurity lnstrument,whether or not �hen duc. The 30-day perioc!will begin when the noticc is given.
<br /> Unless Lender and Borruwer otherwise agr�e in �vriting, any applic�tion of proceeds to principal shall not extend or
<br /> • postpone the due date af the monthly payments r�ferred to in pnragraphs I und 2 or change the amaunt of the payments. If
<br /> undcr parrtigraph 21 the Propeny is acquired by Lender. Borrower's right to anl� insurance pulicies and procecds resulting fcarn
<br /> dam�ge to the Property prior to the lcquisition shul I pass io Lender to the excent of the sums secured by this Security Instrument
<br /> immediately prior to the acquisition.
<br /> 6. (kcupancy,Preservation.Muintenance und Protcctlon of the Property;Borrower's Loan Applicution; Leaseholds.
<br /> . Bonower shall occupy,establish,and use the Prapc:ny as Bormwer's principal residence within sixty days efter tlie execution of
<br /> this Security instrument and shall continue ta occupy ct-ie Property as Borrower's principal residena:for at least one yeur aRer
<br /> the date of occupancy, unless L.ender otherwise agrees in writing, �vhich consent shall not be unreasonubly withheld.or unless
<br /> ' extenuating circumstances exist which are beyond Bc�rrower's control. Borrower shull not destroy, d:unage or impair the
<br /> Property, ullow the Property to deteriorate, or commit waste on the Property. Bnrrower shall bc in defuult if any forfciturc
<br /> action or proceeding, whether civil or criminal,is begun that in Lender's goud faith judgment could result in forfeitune of the
<br /> Property or otherwise materially impair the lien creaied by this Security Instrument or Lerider's security interest.Borrower may
<br /> eure such u default und reinstnte,as providecl in par:�raph I R,by causing the action ur proceeding a�be 1lismissad with a ruling
<br /> that, in Lendcr's gaod faith determinution, praludcs forfciture of the Borrowcr's irterest in the Property or other material
<br /> ' impaittnent of the lien cre:ited by this Security Insimrnent or L.ender's security interest. Borrower shull also be in defAUlt if
<br /> . Borrower,during the loan applicahon process,g�vematcrially tiilsc or inaccurute inforniution rn•statements to Lender ieir f;�iled
<br /> � to provide C.ender with uny macerial information) i nco��nection with the laun evidenced by the Note, including, but nc�t limited
<br /> to,repru�sentations concerning Borrower's uccup•►ncyut-the Properry us a principal residence. If this 3ecuriry In+trununt i.on n
<br /> �; Ieusehold, Barrou�er shall comply with ull the pxovisiuns of thc la�sc. lf Borrowcr acquin;s fec tiNe to the Property, the -
<br /> leaschold and the fee title shall not mcrge unless L.��dcr agrces to the merger in writing.
<br /> 7,Prntection of Lender's Rights in the Property.If Borrower fs►ils to perform the covenants and ugreements contlined in
<br /> � this Security Instrwnent, or there is a legal prcuc�ciing that may significantly affect l.endcr's rights in thc Property {such as a
<br /> proceeding in bankn►ptcy, probute, for condemnation vr forfeiture or to enforce laws or regulations), then Lender mi�y do ancl
<br /> Pay for whatevcr is necessnry to protect the value o(the Property and Lender's rights in the Property. Lender's actions may
<br /> �RCIUQE Qtiyin�, any tiurT: �ccuuirti uy a iicn wi�icii it�ta�rivniy uvct ii�ia �c.�:u�iiy ittaitu�uc�ii. uNpcn�iug i�i cuu�i. Ei��yi�ig
<br /> reasonable attorneys' fres and entering on the Prnpcny to make repairs. Although Lender may t�ke,►ctiun under this pxnigraph
<br /> 7, Lender da;s nat have te�do so.
<br /> Any umounts disburscd by I.c�ndcr undcr this para�raph 7 shall becomc additional dcbt of Borrcnvcr sccural by this
<br /> Sccurity instrument. Unless �orrower and Lcnder agree to uthcr terms of payment, these amuunts shall bear interest from the
<br /> date of disbursement at th� Note rate :�nJ shull bc payablc, with inlerest, upun noticc frum L.cnJcr tu Bun•owcr rcyucsting =
<br /> payment. -
<br /> 8. Mortgage Insurunce.if I.ender reyuired ramn�age in�urunce ati a condition of'making the luun secured by thiti Sccurity =
<br /> Instrument, Borrowcr �hall pay the premiums requircd to maintain the mortguge insurance in effect. If, for any reaxon, the
<br /> mongage insurnnce coverigc reyuired by Lender 1 ap�es or ceases tn be in effect, Borrower shall pay thc premiums rcyuircd tu _
<br /> ubtain covcruge subtitantially cyuivalcnt tu thc mvrtgagc insurancc previously in effcrt, at.i cost tiubstantiully eyuival�nt W the _
<br /> cost to Horruwer of the mart�age insurance previously in effect, from an alternate murtgugc insunr appro�cd by Lender. If =
<br /> . . p,ye s��a Form 3028 9190
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