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<br />_ _ ,�� '; The Funds shall be held in an iiv,titution whose deposits are insared by a feder3l agency. inscrumentality. ar entity
<br />- � , ' (including Lender,if Lender is such an institutionl er in anc Fe�ferat Home Loan Sank• 1-ender tihal!apply the Funds w pay the �� .��.,�,'.,�.��..��.
<br /> E�crow[tems. Lender may nut charge Barrower for hotding and applying the Funds,annually analyzing the escrow ac��aunt,or -.�.
<br /> � � • verifjing the Escro�v I.ems,unles.Lender pays Borm�cer intere�t an the Funds and appltable�a��P�rmi���der ta make suc6� ______= -
<br /> : �- - • : a charge. Nowe�er. Lender may rcyuire Borrower to pay a one-time charge fur:�n mdependent mal�SGUC tax �epurting service� .. ; .
<br /> c; wed by l.ender in connection w'sth thi�, Inan, unless applicabte law pro�•ides otherw•i�• Unle.0 an agreement is m3de or � ; i•` � �
<br /> , applir.�bie law requirc�+interetit to be paid,l.ender,half n�t be reqnired to p�ay Borrow�er any'interest or cunings on the Funds. �, .�_r�,
<br /> Borco�4cr and Lcnder may a�ree�n writing. haa•ever. that intereat shill be pa�d on the Funds. [xnder shall give to�orro�ver.� � � ,'.
<br /> ` without charge. an:umual acruunung of the Funds, shmving credits and debiu to[he Fund,and the purpose for w�6ich each� `:-�4,,> .
<br /> ��,�z , ,< debit to the Fund.wa�made.The Funds ure pledged as additional securiry for all sums secumd My t6is Secunty lacwment. - _ .
<br /> • . • . If the finnds held by I.ender exceed the amounts permitted to be held by apptiwbte law,Lender shaii xccpunt to Bortoucr�
<br /> ` for the excess Funds in 3crordan�e with the reyuiremerts�f applic�bte faw. [f the amount of the Funds held by Lender at any� _ .. .,�.:�
<br /> .�--�_"y�� t i m e is nut sufftcieni to pa y tlie Escrow Items when due.L.ender may su notify Bormw•er in a•riting.:utd, in such�a�e Borrowe .;f
<br /> ' � ,.'; shall pay to L.ender the amount nere+.wry to make up the deficiency. Borrower shall m:e ke up [he de f iciency in nu m o r e t h a n� •
<br /> � -- - � tuelee monthlY payments.at lx�der's�ole discretion. - .�= -
<br /> : •� Upun paymei►t in full of all ,unu secured by thi� Security Instrument. I.ender +hall prumptly refund ti� Barnswrr :ui} ',j�"s. , -'� :
<br /> � � Funds held by I.ender_ if,under paragraph-'t- Lender shal}acyuire or sell the Propen}+. L.ender,prior to the acyuisition ur�ale ,.,,.��`
<br />, ' , • � :a of the Property.shall appl}•any Funds held by Lendzr at the time of:uyuisitian or sale:��a r�edit sgain+t the�ums secured by ,,�`!`; . .
<br /> thiti Security lnstrument. . :''�:
<br /> � " 3.�pplIeation of Paymenic.Unless:spplicable law provides otherwue.a1�paYmentc received by Lender under paragraphs
<br /> � • I and 2,hall br applied: fir�t.to any prepayment charges due under the Note: secund, a�amount,payable under paragraph 2: -• •
<br />_ ' .' ' ,�$ tfurd.to inter�st due:fourth.ro pnnc�pal due:and ta�t,to any late charges due under the Note. .:�". `4;_
<br />� 4.Charges:Liens.Bonower shall pay all taxes.a�sessments. charges.fines and impositions attributable to the Property S:,• .�,,v._•,
<br />- ' uhich may attain prioriry over this Securiry In+trument. and leasehotd payments or ground renis, if any. Borrawer shatl pay , �.�`•-.7; _
<br /> � •• these obligations in the manner provided in paragraph 2.or if not paid ia that manner. Borrower shall pay them on time direct{y ==_" _
<br /> � ' !t� to the penon owed payment.Borrower shall promptly furni�h to Lender all rtotices of amcr,�nts to be paid under this paragraph• ;.°:;�«.-.
<br /> = ' If Burrower makes these payments directly.Borrower shall prompily fumish to Lender receipts evidenc�ng the payments.
<br /> � ' ' � Borrower shall promptly discharge any lien whech has prionty over thi,Security Instrument unless Eorrower:la)agreea in `
<br /> . . ...�:
<br /> � , ' �• - writing to[he payment ot the obligation secured by the lien in a manner acceptable to Lender:f b)contest,in gaod faith the lien _ ��
<br /> • � by. or defends against enforcement of [he lien in, legal proceedings which in the Lender'S opinion operate to prevent the I ;`y .. .,.: �
<br /> enforcement of the lien:or Icl+ecums fram che holder of the lien:u�agreement satisfactory ta Lender subordinating the lirn to _.
<br /> "-� '� this Securiry Instrument. [f Lender determines that any part uf[he Property is Subject to a lien which mey attain priority over *�c=
<br /> this Security Instrument.I.ender may give Barrower a notice idcntifying the lier►_ Borrower shall satisfy che lien ar take one or ��
<br /> mare of the actioai�et forth above within 10 days af the giving of notice. �i;� _
<br /> ' .� 5. Hazard or Praperty Insurance. Bortawer shall keep the improvement� now existing or hereafter erected on the .-. J,�., ;:.�5,�0
<br /> . . =' ' Property intiured agaia�t loss b}� fin.hazards included aithin the term extended coverage" anJ any oiher hazards. mcluding ��;_,.
<br /> � ,,'f�•�:..�-
<br />,t:•: . - . � ftoods or flooding, for which Ixnder requires in�urance.'fh�s in,urance shall be maintained in the amounts and for the periods ,-,;�j;
<br /> � [hat Lender reqmres. The insurance carrier providing[he insurance,haU be chosen by Borrower,ubje.:t to Lender's approval __
<br />' ' which shall not be unreasanably withheld. If Borrower fails to maintain caverage desrribed above. Lender may, at l.ender's ,_ ---
<br /> ' ..r ` , option.ubtain coverage w protect i.endei s rights in the Property in accordance with paragraph 7. �=.:_„�,�;
<br /> � ` � All insurance polici�and renewals shall be acceptable tu Lcnder and shall include a standard mongage clause. l.ender , ,;_,�_
<br /> ' ..:,,.' shall ha.�e�'�c:right to hold the polecies and renewals. If Lender r��:::res.Barrower tihall prampUy give to Lender all receip�s of . ��
<br /> _, �- paid premiums and renewai noticz,•1n the eveat nf lass,floaau er,ra! give prnmpt notice to the insurance carrier and l.ender. i 3�
<br /> � ' Ixnder may make proof of loss if not made promptly by Barrower• . �_�'_
<br /> Untess Lender and Bonower othtrwise agree in wntmg, intiur•uue proceedti shalt he applied to retitorat:on or repair of the .. . . _.�,�,..,
<br /> � '?. Property dama8ed•if the restaration or repair is econc.miwll�feasible anJ l.ender'c security is nut lessened. If the reswr�tiun or �, ._ .: ;�s1�'
<br /> , repair is not ewnomicaUy feasiblc ar Lender's+ecurity wautd be lessened:the iatiurarnx proceeds sball be applied to the aums .•. �_
<br /> '�- - • se.cured by this Security lnstrument. «'.:ether or nat then due. with any eacess paid to Barrower. If Borrawer abandom the _ ..,�,�;
<br /> � '•� Pn►perty.or daes not answer within 30 dayy a notice from Lender that the insurance carrier has offered ta settle a claim. then ��_
<br /> •y�� ; � • ' • Lender may callect the insuranee procoecls. I-encier muy utie the praceecls to repair or rertore the Property or to pay �ums -_ ,�
<br /> . secured by this Security Instrument,whether or not c:ien due.The 30-day period will begin when the notice is given. ';;�__
<br /> � � • Unless [.ender and Sarrower otherwise agrer in writing. any applii;ation of proceecls to princip:d shall not extend or ��_
<br /> ' " . ;,,,. ; postpone the due date of thc momhly payme�ur referred a� in Qaragraphti 1 and 2 or change the amount of the payments. Ii —
<br /> under parw«�aph 21 the Pmperty is acquired by L.ender. Horruti��e ti right to any insurance policies and proceeds resulting frnm !; "�__
<br /> � `��' �: da�nage to t:ie Property prior to the acyui.n�on+hall pas.tu I.ender u�the extent uf the�ums secured by this Security Instrument �!
<br /> � � immediately prior to the acyuisition. . ��_
<br /> . ' .� � 6,pccupancy.Preservatlon,titalntenance and Protection oi the Property:Bnrrower's Loan ApplIcatlon;Leaseholds. .. ,_
<br /> � Bonower shal{occupy,e�tablish,and utie the Propc,^.y a+Bonower's principsl re.idence within sixty days aEwr the execution of
<br /> , . ' � this Sec:urity Instrument and�hall wntinue to�x�vP3' the Pruperty ati&�rrotiver's principai residence fi+r at tea,t one y�r after . .��_�
<br /> the Jate�:f„ccupan�y.unle�.l.ender utherwise ugrec�in wnung. �vhich consem�hall not be unreasonably withheld.or untesti ,`a(,,._
<br /> � extenuating circumstances exi�t which sire beyond Borrowcr'� contrc+l. Barrowcr �hall not destroy. damage or impair the
<br />" . . � � � Property, allow the Prupeny to detcriorute. or c��mmit wa.tc on t he Pmpe ny. Bnr r��w e r shall be in default if an y forfeiwre
<br /> action or proceuling. ��'�ether civil ur crimi�al. is begun that in L.enJer'�gnnd faith judgment could re.wuit en farfeiture of the
<br /> . . ' '� propeny ur olherwi�a r.Mcerially impair Ihr lien creat�:d by thi�Security Intitrumrnt ur I.ender's.ecurity mt:r�.t.Bonower may
<br /> � � cure�uch a default and rein.rlate,ar praviJed in paragr�ph 18.hy cau�ing the action ur praceuling u�be Si.m�+sed with a ruling
<br /> ' i that. in Lender's guuJ fai�h determmatiim, precluJe� fort'eiturr ��f the Burrower'ti intere>t in the Properiy or uther materia! �
<br /> . � .. s itnpairmem oi'thc licn creatrd by thi. Securiry Instrumcnt or i.:nder's sccurity interc�l. So:rnwer�hall alsu be in default if .
<br /> �J,,,', • ; $nrruwer,during thr luan appliratic�n proce.,.g�i�e inaterially falce or inaccurute informatiem ur�tatement�ta Lender lor failecl
<br /> , ta pr�n�idc l�:ndcr.vi�h aoy matcrial infurmatiun�ih cunncctiun with thc loan rvidcnced by thc N��tc.inclaling.but not limitcd .
<br /> to. repreticntatiom cuncerning Hurruwcr'.uccupa::.. uf the Propeny a�a prineipal re.idencc. If thi.S�uritt In�trument i�<m a .
<br /> leasehuld. Fic�rcoacr ShaU contply with all the pr+�visions of thr I�.�,e. II' Hotruwer acquirr� fce ►itle to the Pruperly. [he .
<br /> '•� � � Ieatichold anJ the fce title.hall nnt►r,cr=c unlc.•l.ender agrees t�Uie merger in writing. . '�'. � -
<br /> •" � 7.{'rotertton of lkrtder's iti�htti in the Propertv.If Barrawer failti ti�perform thc m�cnants anJ agrcem�ntr contained in
<br /> r'... • .
<br /> thi�Sccunty 1ntiUUment. ur there i.a leg�l procceJing that may tiigniticandy affe�t Lendes"�right.in tiu Prnperiy (�uch ati a
<br /> � . i procceding in bankruptry. r��,nate. fnr cun��mn��t�on or furfciture ur tu enfurce law���r regulatiom). ti;n I.�nde� may dn and
<br /> pay ti�r whtrtcccr i, ne�eti,ar�• tu protecl thr �alu.uf th� F'rnperty anJ Lc:ndcr',right. �n the Propen.. l�nder'� acti�ms may .
<br /> • i mcludr �.�y����. .�»y �u�m ucurcd hy �� lien whirh ha+ pri„rity uvcr thi� S�curity In.trumcnt. appc<:nng in c�,urt. paying .
<br /> ; rca+unahlr atturn�y�' f�r,and entcring�,n the Pri,prrly u►mak� repair,. Althuugh L.�:nJer may�akc actiun under thi.paragr:�ph ' .
<br /> , 7. I�:ndrr due+nut ha�c t���lo.u. .
<br /> � . Any .�muunt� di,hur�eJ h} I.cnd�r unJcr th�� para�_rapli 7 �hall hecomc aJJiliunal deht uf B�,rruwer �ecured by this
<br /> „ . Sccuntr Imlrumrnt. l'nlr�ti&�rr��a�cr anJ LrnJcr agrc�tn�,thcr tcrm.��f paymcnt. thcx:un��unt�.ha11 brar intere�t from the
<br />� . Jat� „t di.hur.c�ment at thc Vutr ratr :md .hall hc payahlr, with imcre�t. uron n�,ucc fmm Lc�idcr a, Hurrnwrr r�yucrting .
<br /> • pa)mrnl. .
<br /> !!. �turt�u�;e In�ur�+ner. It LrnJcr rcyu�nJ nu,rtgc�ue imuratuc a�.i c�mdiuon��f m:ikin�ihe loan�ecurcd hy� Ihi.tircurity __
<br /> � � Instrumcnl. Huttu«�r ,h�ill pa} thr prcnuum� nyu�rcd u, maintam thr m„rlg:ige �ntiur,mcc m �llrct. It. fur :my rcati�m. �hr .
<br /> � mutl�.a�:c imuranrr c„Lrra,r rc��u�rrd hy I.�nJrr I.�p�r.ur r�a.c. tu hr in cff�ct. Burmurr .hall pa}� Ihc premium. rcquircd a,
<br /> ' +� • �,ht:nn co�rraLr �uh.ianli:dl}• rytuc;il�•nt �u thr m�,rts�.i�:c m.ur.tnrr pre�•iou.ly in cffrrL at a ca.1 ,ith,lantially cqun.dcnt tn th�
<br /> , � r��.l h, Hutr�n�rr „( thr mnriz:r_r m•ur.in.r prcciuu�h �n rtfcrt. Irnm an :dtrmatr mun�.�gr in�unr :q,pr�nrd h� IAndcr. If .
<br /> � ,i Form 3028 �190
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