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<br /> ,� � �.,';s?'�:' �.'.rr-���rt',-.
<br /> �[� The Funds shall be held in an institution whme dcposits are irtsured by a federal agen�r�n,t m�ta c°��t�, o�entity ,. <i ;�-�:,�',<.: �s
<br /> (ineluding[.ender,iC Lender is such an inctitution►or in any Federal Home i.oan BPnlc. [.eoder shall apply the Funds to pay the - ' Y��
<br /> -- Escrow[tsms. L.ender may nai charge Bnrrower for holding and�p�+l�•ine the Funds,annualty analyeing the escrow aczuunt,or ..`. �`>s,.,:r�-'
<br /> verifying the Eacrow Items,unless Lender payti�iorrawer intere.tic�a th;Funds:imi applicabte luw permit�Lender t�make sueh ,t�,6;��';,�?.;'_`
<br /> a churge. However. Lemier may reyuire &�rro�ve�to pay a une-time charge far an independent real estase tax re�mrting:+ervice �' ` .
<br /> used by Ixnder in rnnnection with this I��an, unle+� applicabl: law pravide+ ��then�ire. Unless an agrc�►nent is m;uie or •
<br />• �p3icablc law requir�interest to be paid, lxader.hall not bP m�qcsirai t��pay Harroucr any interest ur ea.�nin�s���:thP Funds. ',� ` ��'� 4
<br /> .. Borrower and Lender m:iy u�ree in wnting,however, that in!ee�F t�t111 b� psid im the Funds. L.er�der shall gi�e so Bnnower, •4:. .�•� �.=�c
<br /> - withuut charge. an annual acce�unting of the Fund.. .hrnving rrodiu anJ debits to the Funds and the purpose fc� which each , ,
<br /> debit ta the Funds wa,m�nie. The Fund�:ue pledged a,addition•rl sa.�urity for all sums,ecurcti by thi.Security insuument. `,••.r°� . T
<br /> l,the Funds held by Lxruler exxed the amvunt�pertnittr�i to be htkd by applirabte lau•, Lender+hall�cu�unt ca Bomnwer � � • �
<br /> for the excess Funds ir►u�tiordance with the rc�quirerrunt.nf aR�•'irab!�IaH•. If the amvunt of the Fund�held 'oy l.�nder at any � • •
<br /> time is nat wftirient to pay the Fserow Items when due,Lenc�er neav�o notify Bc�rru►v��in a�nting,and.in:.uch u►se Borrower , •
<br /> shal! pay to Lender th;amou�t necessary ro rnake up the�rficienry. Horrower shall make up the Jeficiency in �n more than � �. �
<br /> twelve monthdy payme�ts,at Lender's sote discretion. �;,_ ;`,,. ,
<br /> Upon payment in full uf alI ,ums secured by thi�Security instrurnent, Lender +hall promptly refund tu S�rrower any --
<br /> Funds helJ by L.ender. [f.under paragrnph 21. Lxnder shall scq�ire or se11 the Proper[y. Lender.pnur to the acyuinition or sale , : .�
<br /> ; .c of the Propeny. shal{apply:u►y Funds held by Lender ut the time of ttcquisition ar salr as a credit again,t thc,utrs secured by ° +: , J�
<br /> � thi,Security Instrument. . 4�'�` ` ''"`�<�
<br /> 3.Application of Payements. Unle.��appli�able!a•h pm�•idet;othenvise,a11 payrtt:no rerei�•ed by Lender under paragrapha •. ..,. . ..,-�,..
<br /> 1,ued= shall be applieJ: first,to dny prepayment chargc.�d�u urtdcr th.Notr, sccand. to amount�payuble uttder paragraph?: ` . '-.,:""`" -*
<br /> � " third,tu interest due:faurth.tu principal due:and last,to an�•lane charges due under the Nute. -•� `��,`
<br /> , 4.Chatge§;Ltens. Borrower shall pay all taxes,assessr�erTts. charges,ftnes and impositi�a�attributttble tL�the Property __ _�-.;f,:F'�,
<br /> whic6 may attain priority over this Security Instrum�:nt,and le:�sehold payments ur gmund re�'�. if any. Bnrn�wer shali pay � :
<br /> these obligations in the manner provided in paragrap-z 2,ar if noa paid in that manner. Borcoaer s��!I pay them c,n time direcdy �����•r:�� ,4N•tY�;
<br /> ' to the person owed paytrtent. Bormwer shall promptly fitmish ta[.ender all notices of amounis:c be paid und�r tE�is paragmph. '=?'•r��'• F-�• -
<br /> w.,..
<br /> If Borrower m�ltes the�e payments directly.Barro�ver shall pmmptly fumish to Lender receipcs e::dene�ng the paymen[s. -4�,��•
<br />` Borrower shall prompdy discharge any lien which has priorit}�over this Security Insnvm.�::�ttless Borruwer_ta>agrcxs in ; �f` '�"F:=`'
<br />- ' writing to the payment of the obligadon secured by di:lien in a tttann�er acceptabte to I.ender;(�1 contests in�:a�:c�faith t he'�rn - '.` `�vc.�--;;
<br /> `-,.,. ,�
<br /> by, or defends against enforcement of the lien in, te�al pmceedings which in che Lender's opinion operatc to prevert dte <� _. : ,::�,"��"
<br /> •�� enforcemem ot the lien: or cc)secures from the holder af tht lien an agraement sa?��`zctnry to Lender subordinating the lien ta ,. ,�, .';,•::.:...
<br /> this Security �nstrument. Ff L.ender determines that any part of the Property is�ubject to a lien which mav alYatr priority o�er �;:,_:��Y�
<br /> this Security Lnstrument. Lender may give Borrower a natice id�ntifying the lien. Borrawer s�l satisfy the Ri�:n ar take one or : � ;,,...:
<br /> more of the aciions set fonh above w�ithin 10 days af the ge��ing of nuiice. : �`�"�,
<br /> �. Hasard or Peoperty Insurance. Borrower shatl keep the improvements now� exis.arc�g or hen�ft�r erected on the ��:�•�,���;;;
<br /> ` " Property insured against loss by iire, hazards inclad:d aithin the term"extended cuverage" ��=ny other {rfc.ards, including
<br /> �.. ' . �
<br /> � . floods or ftooding,for which Lender requires insurancc.This insurance shall be mzintained in tFe amount�•unt for the periods '�,,k- . .
<br /> chat [.ender reyuires. The insurance carrier providing the in�urunce shall be chosc�by Burro4;er�;�bject�n•1'�jer's approval ,: •.
<br /> w�hich s1ea7➢ not be unr�sonably withheld. If Bormwer fails ta maintain coverage described �:�use. Lerder��.y, at Lendei s -�-r-.� .
<br /> o tion,i��ta�eovera e to rotect Lender's ri hu in the Ptn ct•in accordance with ara raph-. " 'S
<br /> P g . . p g P� 5 P g , • .1�.,���
<br /> AII in,c;:a;s:ce p��[iwties and renewals shall be acceptable tn [.ender and shall include a standard morc�ag�c?aase. �.�-er • �•
<br />, � shatl ha����:ighc te h4Ld the policies and renewals. !f(.ettder requires.Barro:ti•er shall promptly give to l.endr.�a11 cecei�;of �. ;:'' �;r�,�y�.�,
<br /> ;:aid pres.::-�-�and renetival notiees.In the evene of luss.Bacmtiver::hall give pme�npt notice to the insurance�:-u�i�and Lender. •�`2:.,:;�, .'`:.�, .
<br /> i.ertder c�y^ake pmof of loss if not made promptly by 8orm�r�c. •�:
<br />��. •� Unt�s�ender and Borrower otherwise agr�m wnnn�,imurancc proceedc shall he applied to restorati��n or repair of the ___
<br /> Properry az�aged.if the restoration or repair is economirall�•frasible and l.ender's securiry is not lessened. If s�e restoratian or _ _��'.��_
<br /> __ repair is not economically feasible or Lender's security w�iu!d be l�;�ened.the insurunse proceeds shall be apptied to the sums � � '�Y��
<br /> `, secured by this Security Instrument. whe�her or not [hen dua �vith nny excevs paid to Borrawer. !f Bo�a��er abandons the �,:,;
<br /> . Property.or does not answer within 30 days a notice fm►n Lender that the insurance carrier has offerod to r,�zG•=a claim.[hen ---
<br /> Lender may coltect the insurance proceeds. Lender may use the p�uceeds to repair ur restare the Pn�pery or to pay sums
<br /> secured by lhis Seturity Instrument,whether or not then due.The 30�day periad will begin when the aotice is given. � :
<br /> � Unless Lender and Borrower othenvise agreP in a�riting, any epplication of procecds co principal shull not extend or
<br /> �,.'. •. postpone the due date of thc monthly payments retenal ti�in para�raphs I and 2 or change the amount o!'.the payments. If ��'=° '•^"
<br /> under paragraph 21 the Property is acquired by I.ender.Borm���r's nght to ang insurance polieies and pmc:ed.c resultir�g from . ,��-����-T
<br /> � daznage to the Property prior ro the acquisition shall p:�..to I.ender to the ex�er..�'«f the sums secnr�by thia Security Instrument
<br /> ;mmediately prior to the acquisition. �_'".s'_� .
<br /> � 6.Q)cs�yar.cy.Pveservation,Main4enartce z+nd Fro4�c13on of the Propxr�3;�orrotirer's Loan ApplL.�aiion;Leaseholds. -'"� -
<br /> in
<br /> � Borrawer shall occupy.estabiish,and use the Property ac Bormwer'+principal residence withia sixty days afr,�r the execution of ����`-�=
<br /> -= this Security Instrument and shall continue to occupy the Pruperty as Borro�ver's principal ne;,��lence for at least one year after �=��=-"
<br /> ` the date c�f uccupancy.unles.Lender othenvise agr�s in w�itin�, which coment shall not�C unrea�cwbly withheld,or unless �,-__
<br /> � extenuating circumstances exict which ure beyond Borrower's control. Borrower shall not desiroy, damoge or impair the
<br /> Property, allow the Praperty �o detcriorate. or commit wi�.vtc on the Ptopeny. Borrow•er shall be in defaulc if any forfeiwre -•.
<br />�q.;��., action or praceeding, whether civil or criminal,is�egun that in I.ender's good faith judgment could result in forfeiture of the - �.
<br />`�'�-��s^,• Property or oiherwise materially impair the lien created by this Su:urity Instrument or Lender'•�security inte�esl.Ba7rower may �:��
<br />',-_.�.�Yx,`.i�;
<br />"�.������ eure such a default and reirLCtate,as provided in paragraph 1 fl.by cauaing the ac�tion or proceeciing to be dismissed with a ru ing
<br />=tii�3j;,; that, in Lender's good faith determinatian. precl-au� forfcituro of the Bono�ver's interest in the Property or other material �-�-��
<br /> impairment of Ihe lien creatal by thiti Security ins�rument ar Lender's �,ecurity interest. Borrower shalt also be in default if �`;
<br /> ' Borrower.Jurin�thu loan applicution process, ga:�e:rnateritilly fulse or inaccurnte mfiirmation or statementa to Lender(�r failed �,�._ -
<br />,;;[c^�.�,:. to provitr.Lender with any material informationl in connectiun with lhe loan evidenced by the Note, includin�,but not limite� �°�-°°�•
<br />_`;�; to, repre�:-r�tiuns coneernmg Borrower's occupancy of the Pre��:rv as a principal residence. IC�his Securiiy Instrument is on a �;,;,_•_
<br />'.;,?i!'� .. Ieaseho,J. ►3urrou+er shall comply witiz all the pravisions uf �����,: l�.ese. If Borrower acquu�:� fee tic(e n� the Property, the ��'����T-
<br /> IeasehoiJ u'�3 the fee title shall not merge unle,s Lender ugree4 to ti.�:.-wr�er in�vriting. �t"'`"
<br />�..t..Y .. 7.3�roYection oY Lender's Rlghts in the Property.l(Bnrm�rcr fuis.cn�erf trm the coveRants and»greementc contained in
<br />;;.', �� :'�is Sec::-r;rv Instrument. or there is a legal proceeding that n�ay si�nffic.:rri; ati'u:t l.ender's rights in th�; ['mperty Isuch as a _'��-�?�"'���°
<br /> ���� pracea:�.t�r�.� bankruptey, probate, for condemnation ar forfeitare or tv er.'orc�: �aw.ar regul:�tion�>. �he�� L.�:nder may do and =_-
<br />-•.•a1.,�'.
<br /> ��r�`� pay fc� u�l,u�:ver is neces�ary w preci+:t the value of the Prnpeny artd Le:r.;�';nghtti in the Proper¢y. l.�:nder's actions may .. .�<<,:�
<br />'±i`��'� ' intluc: Ci.�.�t�g any sums .ecured by a lien which has prianry uver tliu �xurity ln+trument, appu�nrtg in cuurt, paying -
<br />. `' rra.5an;:L'.�attomeys fces and enteriug on the Property to make repairs. Altha•��.h Lt:nder may take acti��n under this paragraph _ _ ._ �_
<br /> '� 1, �,�,�:er does not bave to do so. ----
<br /> � • .�n•. dmounts disbursed by Lcnder undcr this p:u~�gruph 7 shall hea�-�c additional dcbt u( Bnr.�wer �ecured by this ��:'"R
<br /> Sec:�rny l�s•strument. Unless Borrower and Lender agrce ta other term��f p�ay^ient, the�e amount�.hull hear interest from the b'�_:-- _:__-
<br />.:= date cf �!�•�bursement ut the Nou rate and �hall be payable. with intereyt. upon notirc �n�m l�:ndcr i�> Bottow�cr requesting '��' �'i�;'�;•-:
<br />,;•"' ' payment. ���`-''-:
<br /> . 8.Mortgage lnsurance.!f l.ender reyuired morlgege iu:ur�nce as a condition��f maki���che lut�n+ecured by this 5ecurity �w,�;�:
<br /> tnstrument. Borrower shall pay thc premiumti n:yuired to maintain the mortga=: imurance in ;ff:ct. lt'. for any rra.tion. [he �,, _
<br /> ' mortgage insurance covcrage reyuired by Lendcr lapsc��r ceascs to be in effc�t. Borro«rr +hall puy Ehe premium� required to �:a=;�;��:�
<br /> � obtam cover.�ge+ubwtunt�ally equnalent to the mc�rtgage iiuut�nre previously in effect,at a c��tit�ub�:tantially eyuivalent tn the •{rr:_ -_':'..
<br /> ' . cost to �urrower uf the �ttorlgage insurancr previou�l� in effect, from an alternate m��rtgage mt�mr apprrn�ul by I,ender. If �. -• .
<br /> v,te z d s Fotm 3028 9/90 ' �, .:
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