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<br /> 9orrower's escrow account under the todera� Real Estete Serilement Procedures Aet of 1874 as amended ir�m tlme to time, 12 U.3.C. T
<br /> 260� et seq. ("R�SPA"y,unless another law that applles to the Funds set8 a bs5er emount. II sa,Lender may, at any t�e, collect and
<br /> hold Funtls �n sn amount not to oxCeed the bsser emount. lender may estknate the amount of funds due on the basla of Current deta
<br /> and reasonuble estimates ol expenditures oi futuro Escraw Items or oth9rwise in accordance w�tn app�wab�e law.
<br /> The Punds shall be hefd � un u�stitution whose deposits are in6ured by a �ederal apency, instrumentality, �r entity pncludmq(�
<br /> , Lender, if Lender Is 6ucA en institutlOn) or in 8ny Feder8l HOme Loan 86nk. Lendar shell flpply lhe Funds to pey the Escrow Items.QQ t �
<br /> Lender m8y not chflrge Borrower for holding end epplylnq the funds, annuelly eneryzing the esC�Ow aCCOUnt, or verllying the Escrow �
<br /> Ilems, unless Lender pays Borrower Interest on the Funds and 8ppilcable law permits Lender to make such a charpe. However, Lender�
<br /> � may requMe Borrower to pay a one�tlme charge for an Independant real esteta tuc ropoRinq servbe used by Lender In aonneotbn wlthQ I �� , , -
<br /> thls ban, uniess applicable �aw provides otherwise. UnIoJJ nn nyreomont Is mnde a appl�able Iew requfres htoreat to be pald, Lender�
<br /> shaM not be requked to pay Bottowor any Interest or oamhpa on th�Funde. Borrowor and Lender may ayre6 In wrRhy, however,tha
<br /> " Interest shall be pald on the Funds. Lender shall pNe to BoROwer, wkhout ohlrpe, nn annuel aceountinp of tha Funds, showin _ •�
<br /> � credtts and debits to the Funds end the purpose tor whfch each debit to the Funds was msde. The Funda are p�edped as additlonal:� , F � ,
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<br /> seCUrity for all sums secured by this SecurRy ��strument. � �""���'` -
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<br /> If the Funds held by Lender exGeed the amounts permittetl to be held by app�Cable law�Lender shAll accou�t to Borrower for the �_
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<br /> excess Funds h accordence with the requiremonts of applicable lew. If the amount of the Funds held by Lender at any Ume is not •, y
<br /> suflbient to pay the Escrow Items when due, Lentler may so natify Borrower In wrNhg, and, In suCh case Borrower sh811 pay to Lender � ��.,�i;:���--�a,
<br /> �. I the amount necessary ro make up the def�iency. Borrower shall make up the def�lency In no more than twelve monthly payments, at �.�7,,.__
<br /> Lender's sole discreti0n. '�
<br /> � I Upon payment in tull of all sums secured by tnis Security Instrumant,Lender shall prompty refund to Bor►ower any Funds heid by �,p;� �
<br /> � I Lentler. If, under paragieph 21, Lender shall acqulre or seli tho Property, Lender, prlor to the acqulsitlon or saie of the Property,shall . t,
<br /> S I appN any Funds held by Lender at the tlme of acqulsitlon or sele as a credit aqainsl the sums secured by thls Security Instrument. _
<br /> • � 3. Appiicetion of Peyments. Unfess appliCebfe law provides othenvlse,nll p3yments reCeived by Lender under parapraphs i�.
<br /> 1 and 2 shall be applled: first, to any prapayment charges due under the Note; Second,to amounts payable under paragraph 2; thkd .'.,.�
<br /> �" to interest due;fourth,to principal due;and last,to any late charges due under the Note. „ .-
<br /> .; � 4. Ch81'g@s; Liens. Borrower shall pay ail taxes, assesoments, aharges, fines and �mpositiona attributable to the Praperty ' �
<br /> � which may attaln priority over this Security Insirument, and leaseh0�d payments or ground rents, If any. Borrowe� shaU pay these :.,t�t��.
<br /> :�7 obllgotion6 fn the manner provided in paBgraph 2, or if not paid in that mBnner, Borrower shall pay them on time directy to the person ,._
<br /> owed payment. 8orrower shail promptly furnlsh to Lender gA not�es of amounts to be paid under this paragraph. If Borrower makes .i:�,�,;.�
<br /> �' theso payments dVectiy, Borrower shall promptly(urnlsh to Lender receipts evidenc�g the payments. `�
<br /> � � Bortower shall promptly dlscharge any lien whbh has priority over thls Securiry Instrument unless Borrower.(a) agrees h wrRhg to !'�i4' �_.
<br /> � . the payment of the obllpation secured by the Iien in a manner acceptable to Lender, (b)contests In good fafth the Ilen by,or defenda ��
<br /> agalnst enforcement of the Ilen In, Iegei proceedNgs wh�h in the Lenders opinbn oparate to prevent the enforoement of the Iien; or(c) ��F�_
<br /> secures hom the holtler ot the i'�en an ayiirvr�ani sai��otar; t0 L!ltder g��h�rdMetlnq the Iien to this Securfty Instrument. If Lender «y�_
<br /> � determines that 8ny pert of the Property Is sub�ect to a Ilen whbh may attah prbrity over this Seourity Instrument, Lender may pive ?„�
<br /> Borrower a not�e IdentHy�ng the Ilen. Borrower Shall satlsty the Ilen or tflke one a more of the aatlons set forth above withh 10 days �
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<br /> ot the giving ot nodce. �,ys
<br /> S. Hazard or Property Insurance. Borrower shall keep the improvements now exfsti�g or hereafter erected on the a_
<br /> � Property �nsured agalnst loss by fke, hazards included withln the term "extended coveragd" end any other hazsrds, includlnq floods or �',*��
<br /> �: flooding, tor wh�h Lender requires insurance. This insurance s ha l l be main t ained in the amounts and tor `0 BpWhbh shall not be ' '
<br /> requkes. The insuranCe carrier provlding the insurance shall be chosen by Borrower subjeCt to Lender's app
<br /> unreasonebly withheid. If Borrower fails to maintain coverage described above,Lender may,at Lender's optbn, obtain coverage to
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<br /> protect Lender'S rights in the Property in accordance wfth paragraph . _
<br /> y, All insurance pol�ss and renewals shall be acceptable to Lender end shall include a stendard mortgape ciause. Lender shali have __
<br /> • the rfgnt to hold the pol�cies end renewals. if Lender requlres, BoROwer shali prompty gNe to Lender au recelpts of pald p�emlums �
<br /> � and renewal not�es. In the event of loss, Bortower shall pive prompt notfce to the hsurance cartier and Lender. Lender may make
<br /> ' ; proof of wss if not made promptly by Borrower. v`
<br /> � � Unless Lender and Borcower otherwise t�gree In writing,InsuranCe prOCeed6 shall be applled to restoratbn or repflir of the Property --
<br /> � ' damaped, if the restoratbn or repaU Is economf�aliy te6sib�e and Lenders secur�y is not Iessened. If the restoratlon or repak Is not ��__
<br />, �' econombally feasWie or Lende�'s securlty would be les�ened, the Insurance praeeds Shan be app��ed to the sums Secured by thls �_l�_ -
<br /> ` SeCUrity InstNment, whether or not then due, with eny excess paid to Borrower• If Borrower abandons the Property, or does not
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<br /> answer within 30 days a notice from Lender that the insurance carrier has oNered to sett�e g ���ums seCUredr by8lhlsolSecurity ��T
<br />_ insuranCe proCeeds. Lender may use the proCeeds to repalr or rest0�e the Property or to pay '-'**�z-r�*-
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<br /> _ , Instrument,whether or not then due.Tho 30•day period will begin when the not�e Is gtien• • r
<br /> Unless Lender and Borrower otherwlse agree In writ�np,any eppl�atlon of proceeds to principal shall not extend or postpone the . ��>;�; � ;,�..
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<br /> due date of the monthly payments referred to in paregraphs 1 end 2 or change the amount ot the pnyments. If under psragreph 21 .i : �'Y ',, 1 "`
<br /> � �i the Property Is acquVed by Lender, Borrower's right to any�surance polf�les and proceeds resulting from damege to the Property prlor : v ;
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<br /> i t o t h e a c q u l s i t l on shall pass to Lender to the extent of the sums secured by thls SecurRy Instrument immedlately prlor to the ,` •^�
<br /> ' acquisltlon. ' ^
<br /> � 1 6. Occupancy, Preservation, Maintonance and Protection oi the Property; Borrower's Loan "
<br />� • I Application; Leaseholds. Borrower shatl occupy, estabiish, and use the Property as Borrower's principel residence within sixty
<br /> - � days aRer Ihe execution ot this Securfty Inst�umoni and sheY continue to occupy the Property as Borrower's prinC�pel resldence for at
<br /> least one year BRer the dalo of occupancy. unless lender otherwfse agreos N writing, whiCh consent shell not be unreasonably
<br />- l withheltl, or unless extenuating circum5tances ex�st wh�ch are beyond Borrower's control. Borrower shell not destroy, damage or impak
<br /> i the Property, albw the Property t0 detenorat9, Or commit wasle on the Property. Borrower shall be in defauit il any fo�eiture action or
<br />` I proceeding,whether civil or Criminal, is begun lhat M Lender's good faith judgment could result in foAe�ture of the Property or otherwise
<br /> � mnteriallv imoair the lien croated by this Security Inslrument or Le�der's security interest. Borrower may Cure such a delault and I
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<br /> � reinstele, eS provlded Ni p8rflgteph 18, by Ceu5ing the 8CtI0n Or proCeeO�ng to oe o�smiyao� ..�u� a ���••v •••-•� •-• -- -- - - - - ---
<br /> detorminatlon, prer,ludes foAoiture of the Borrowers �nterest in the Property or other materlal Impekment of the ��en cre8ted by this i
<br /> ' Security Instrument or Lender's security fnterest. Borrower shell also be fn delault ii BoROwer, during the loan epp�iCflt�on proCess, ,
<br /> � � gave materially false or inaccurate fnformation or stetements to Lender (�r failed to provide Lender with any materlal hformation) In �
<br /> connection with the b8n evldenced by the Nole, Including,but not limiled to, representatfons concernng Borrower's occupanCy ot the i
<br /> Proporty a5 o p��nC�p81 residenCe. If thi5 SeCUrity �nstrument is on a leasehold. Borrower Shell comply with all th6 proviS�Ons of the �
<br /> Ieose. If 80rrower ACquir85 �BB tdle to Ih9 PrOperty. Ihe IBeSeh0ld and Ihe f28 title Sh811 nOt merge unl85s ihe LBndBr 8gree5 t0 Ihe I
<br /> merpe� ��� wntmg. Fo�m 90?B 9�90 �
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