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<br /> Lender m8y, et any time, co��ecl and hold Funds In an amount aot to exceed Ihe meximum amount a lender fa a lederally releted mortqApe ,.�}�::����_
<br /> lonn may requiro lor Borrower'o eacrow account undor iha (ed�ril F'1e41 Ebtate Settfemant Procedurss Aat of t974 a6 amend¢d from tknY to �.!�?;,,��
<br /> time, 12 U.S.C. 2601 et seq. ('RESPA"1, unless enother law that epplles to the Funda sets e lesser amount. it so, Lender may, at any lime, � .
<br /> colieot and hold Funds h an amount not to exceed the Iesser amount. I_ender may estknate the amount ol tunds due on the basls of ��r
<br /> current data snd reosonabte estknataa of oxpendltures of future E6a►aw Items or othervvise h accordance with appibable law.
<br /> Tho Funds shall ba held h an hetkutbn whose deposfts pre Inaured by a tederal aponcy, ��etrumentality,or enllty (�ncludinp Lender, if.
<br /> Lender Is such an hstitutlon)or in any Federal Home Losn Bank. Lender 6haM appty the Funds ta pay the Escrow Rems. Lender may not� _
<br /> � charge Oorrower lor holdhp end eppy�+p the Funda, annually enaly:hg Ihe escrow account, or verifyinp the Escrow Items, unWSa Lender�
<br /> ppys Elorrower intorost on the Funds and npp��cab�e law permlts Lender to make sur,h a charge. However, Lender may raquire Borrower to Q
<br /> < � pay a on�-tirne charpe for an hdependent real estate tax reponhp service used by Lender in Connectfon with this loen, uniess appl�ab�e �awr
<br /> ' �" providea otherwise. Unless en aqreement fs made or appllceble law requires Interest to be paid, Lender shail not be requfred to payPj
<br /> u+�j°� Borrower eny interest or earnings on the Funds.Bortower and Lender may agree In writi�p, however,thet Interenl shel be pafd on the Funds. --_
<br /> �"'"'"'"�� Lender shall gNe to Borrower,wlthout charpo, an annual accouMhg of the Funds, showhg credfta and Aebits ta the funds and the purpose
<br /> tor whbh each debit to the Funds was made. The Funds are pledfled ns addplonal securfty tor all sums secured by Ihis Security Instrument.
<br /> If the Funds held by Lender exCeed the amounta permHted to be held by 8pplicable law, Lender shall account to Borrower (or the �'^
<br /> excess Funds In acaordance with the requMements of applfcabte law. It the amount of the Funda held by Lender at Qny time Is not suMbient -•
<br /> to p8y the Escrow Item6 when due, Lender may so notHy Bortower h wrMing,and, In suah asse Borrower shall pey to Lender ths amnunt
<br /> • necessery to make up the del�iency. Bortower shall make up the defklency in no more then tweNe monthy peymenls, at Lender's sole --
<br /> , :R dtscreNon.
<br /> Upon payment h full of att sums secured by this 3ecurilp Inswment, lender shaN promptly refund to Borrower any Funds held by
<br /> Lender. If, under paragraph 2t,lender shall acquire or sell the PropeKy,�ender, Prior to the acquisition or sele ot tha PropeRy,shall apply
<br /> any Funds neld by Lender at the lme ol acqutsN�on or sab n�a credit ageinst Ihe sums secured by this 5ecuray Instrument. _
<br /> 3. Applicstton of Payments. Uniess appNCBble law provides olhenvise, ell p8yments receivetl by Lender under p8raflraPhS 1 flnd
<br /> 2 shall be app�led: first, to any prepayment charges due under the Note;second, to amounts payable under paragraph 2; third to interest _
<br /> " . ' ��i due;fourth,to princlpal due;entl lvst,to any late charges due under Ihe Note.
<br /> j 4. Ch81'gCB; Liena. Borrower shali pay ali texes,assessments, charges, fines and knpo&ftbns attributable to the Property wh�h may
<br /> Y � attaln prbrity over this Security Instrument, and leasehold payments or ground rents, N any. Borrower shaa pay th�se obligatbns h the
<br /> manner provided In paragraph 2, or Y not paid In that mannaz, Borrower shali psy them on time directty to the person owed payment.
<br /> �� Borrower shall promptly fumish to Lender ail not�es ot amounts to be pald under thls paragraph. If Borcowar makes these payments
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<br /> ,, dkectly, Borrowsr shali promptty tumish to Lender receipts evidencing the paymen s.
<br /> � --:� Borrower shail promptly dlscharge any lten whlCh has priority over ihis Securiry Instrument unless Borrower: (e)agrees in writing to the
<br /> payment of the obiipation seCUred by the Ilen in a manner acceptable to Lender; (b) contests In qood Iaith•Ihe Ilen1by,�of rdef�durestom
<br /> entorcement ot the Ilen in, iegal proceedings wh�h in the Lenders op�nian oparaia tu Nirrvvr�t ihs sntcrs�ncn.c• 2he I:—n: - ..?�
<br /> the holder of the Iien an agreement satisfactory to Lender subordinatinq the Ilen to thls Securlty instrument.If Lender determhes thflt any
<br />- part of the Property is subject to a Ilen wh�h may attain prforiY over this SeCUrity Instrument, Lender may give Borrower a notbe Identitying
<br /> . the lien. BoROwer shali Setisfy the lien or take one or more of the actions set forth above wlthin 10 days ot the gh�n9 ot not�8.
<br /> • 5. HBZBfd Of Property Inaurance. Bortower shal keep the improvements now exlsting or hereefter erected on the PropeRy
<br /> �� Insured against Ioss by tke, hazards Included wkhln the term'extended ooverage'and eny other hazards, Inciudhp fioods or fboding, tor
<br /> " ' wh�h Lender requlres insurance. Thls Inaurance shall bo maintained h the amounts and for tha pertods that Lender requkes. The insurance
<br /> ' carrier providinp the tnsurance shali be chosen by Borrower subJect to Lenders approval whbh shall not be unreasonabty wfthheld. If
<br /> , Borrower falis to maintain coverage described above. Lender muy, at Le�ders optlon, obtaln coveraqe to protect Lender's rphts M thb
<br /> Property in acCOrdance with paragraph 7.
<br /> All Insurance polbies and renewals sha11 be acceptable to Lender anC shali Include a standard mortgage clause. Lender shall have the
<br /> � � r{ght to hotd the pol�ies and renewals. If Lender requires, Barower sha�promptty give to Lender aIi recetpts ot peld premlums and renewal
<br /> " not�es. In the event of bss, Borrower shall gNe prompt notke to the insuranCe carrler and Lender. Lender may make proot of loss M not
<br /> • � made prompty by Borrower. _
<br /> � � Unless Lender and Borrower othe�nrise agree in writing,hsurence proceeds shall be applied to restoretion or repair af the PropeRy
<br /> � damaped, if the restoration or repa� is econom�ally teasible and Lender's seCUrity is not lessened. If Ihe �estoratbn or repalr is not
<br />�••. econom�aliy feasible or Lender's security woub be lessened,Ihe Insurance proceeds shall be applled ro the sums secured by this 3ecurity �
<br /> •• � Instrument, whether or not the� due,with any excess pald to Bottower. Ii Borrower abandons the Property,or does not answer wkhh 30 _
<br /> days a notfce lrom Lender that the �suranCe carrbr hus oNered to setlle e Ciaim,then Lender may Collect the in8urance proCeeds. Lender �=.-
<br /> = may use the proceeds to repair or restore the Property or to pay surns secured by thls Securfty InstrumenL whelhgr or nOt then du9.The �;--
<br /> 30•day perlod wIA begin when the nollCe Is glven. K-
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<br /> " Unbss Lender and Bortower otherwise agree in wrRing. any appikatbn o} proceeds to princlpal shall not exlend or postpone the due _
<br /> date of the monthly payments re(erced to in paragrephs 1 and 2 or change the emount of the payments. If under paragraph 21 the PropoRy �-
<br /> fs ucqulred by Lender, Borcower's right to any insurance pol��es and proCeeds resultinq from damage to the Property prior to the acquiskion f_�_�.
<br /> '� shall pass to Lender to the extent ol Ihe sums seCUrad by this SeCUrfty�nstrument mmediately prior to the acquisitron. f�
<br /> = 6. Occupancy, Preservation, MaMtenance and Protection of the Property; Borrower's Loan Applicatfon; __
<br /> Leasehoids. Borrower shell occupy, astablish, and use the Property es Borrower's principal residence within stxly deys atter the executlon
<br /> of this Security Inslrument and Shall continue to occupy the PropeAy as Borrower's prfncipal residence for at least one year after the date of
<br /> occupEncy, unless Lender otherwlse agrees in writing, whiCh consent shall not be unreasonably withheld,or unless extenuating circumstances
<br /> exist whiCh are beyond Borrower's control. Borrower shall nol dostroy,damage or Impnir tho Property,allow the Property to detorloigte, or
<br /> commit waste on the Propeny. Borrower shall be N default�any torleitu�e actlon or proceeding, whether civft a Criminai, is beeun that in
<br /> - Lender's good �aith judgment Could rosult in forfelture of ihe Property or otherwise m8terlally impair the Iien created by this SeCUrity
<br /> . Instrument or Lender's security interest. Borrower may Cure such e delault end relnstate, as provlded in paregraph 18, by Causing the aCtion
<br />- _ ,.,,,,a�... �,. � .���„,��so� w�n a rulina that. in Lender's good fa�h determinatfon, pieCWdes forfeAure of the Borrower's interest in the
<br /> viy�vv�.v.�-•p •-
<br /> Property or other material impairmenl of Ihe lien created by tnis SeCUrily Instrument or Lender's securily interest. Bonowe� snan a�so oe in
<br /> - � detault d Borrower. dunng tne loan appl�cation process, gave matorially Iaise or fnaccurete informatlon or stetdments to Lender (or tailed to
<br /> _ i provide Lender wdh any maleria�u��ormation) N ConneClion wdh the loan evidenCed by th0 NOte.�nCluding, bul n0t limited t0, repro58nt8ti0n5
<br /> conceinmg 8orrower's occupancy o� the Property as a p���c�pai reS�dence. If this S@CUrity Instrument iS On a 1ea58hold. BorrOwBr SM611
<br /> - comply vrdh an tno prov�s�ons ol tne Ivnse• u Borrower acqures�ee Iaie lo the !'roperty, the Ieasehold and the fee titlo shall not merge
<br /> - unless Lender ngrees to ihe mvrger n writing.
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<br /> ' Fo�m 9076 9/90 ,
<br /> . � F40041.M11(8/O7) r�po 20� S �
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