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<br /> Borrower's escrow account under the federal Real Estate Settlement Procedues Act of 1974 as emended kom time to time, 12 U.S.C. •'��?'x="""
<br /> • 2801 et seq. ("RESPA'), unless another Iflw that app��es to the Funds set6 a bsser am0unt. If so, Lender may,at any time, CollBCt and � ,.°'.�r��`�°'
<br /> hoid Funds �n en amount not to exceed the 18sser amount. Lender may BStNaete the amount of funds due on Ihe beSis ol current data � '
<br /> ;�.r •
<br /> end reesonabie estimates Of expendRures of luture Escrow Iteme or Othenvise h eCCnrdance wfth appliCab�e law. � .
<br /> , The Funds BhaA be held h $n hatRutlon whose depoafte are Inaured by a (aderal agenCy. �etru�tntality, or entlty (Includin�
<br /> Lender, If Lender Is suoh an Instkutlon) or In eny Federal Home Loan Btv�k. Lender shall appy the Funds to pay the F.sCrow Items.j
<br /> Lender mey not charpe Bortower for hoidhy and applylnp ths Funds, annu�y anAlyzinq the escrow account,or verltyinp the Escrow�
<br /> Items,untess Lender psys Borrower hterest on the Funde and appllaable law permRs Lender to make such a charee. However, Lender�
<br /> mey requke Bortower to pay a one�time charpe tor an Independent real estele tex reportlnq sen�e used by Lender In connectian withFi _ �
<br /> Ihis ban, uniess applicubW Iaw providos othenvlse. Unlesa nn nqreement is madn or nppl�eble law requiras interest lo be pald,LenderQ
<br /> ' shali not be requked lo pay Borrower any Interest or earnlnys on the Funds. Borrower snd Lender mey eqrse� wrRing, however, tha1� , +-
<br /> �,,,,,.:' mte►est SheA be paid on the Eu�ds. Lender shell ptve to Borrower, without charye, an ennual eccoumh� of the Funds, showing� _-
<br /> -�rt� credils and debis to the Funds and the purpose for wh�ch each debit to the Funds wes made. The Punds are p�edged as eddltional
<br /> securily for all sums secured by this SeCUrity Instrument. . -
<br /> 11 the Funds held by Lender exceed the amounts permitted to be held by applfcable law, Lender shad account to Borrower for the ,
<br /> excess Funds in accordnnce wkh the requkements of applbable law. If the arnount of the Funds held by Lender at any tkne la not __ -
<br /> sutticlent to pay Ihe Escrow Items when due,Lender may so notHy Horrower h wrRing,and,In such case Bortower shall pay to Lender :� _�.
<br /> the amount necessary to make up the defbiency. Borrawer shell make up the defbisncy In no more than IweHe monthly payments,at :` '.
<br /> Lender's sole discretbn. • �
<br /> Upon payment In fuit of ali sums seCUred by this Security Instrument, l.ender shall promptly refund to Bo�rower any Funds held by
<br /> lender, If, under paragraph 2t, Lender shall acquke or seli the PropeRy, Lender,prlor to the acqulsRlon or sele of the Property, shall
<br /> apply any Funds held by Lender et the tkne of acquisftlon or sale as a oredRegelnst the sums secured by Ihis Security �nstrument.
<br /> 3. Applicatfon ot Peyments. Unless appilcable law provides otherwise, all payments receNed by Lender under paragraphs
<br /> �and 2 shall be appi�ed: first, to eny prepayment charges due under the Note; second, to amounts payabla under paragraph 2; thlyd
<br /> � to interest due: fourth,to principal due; and last, to any late cherges due under the Note.
<br /> 4. Ch81'g@S; LIe118. Borrower shall pay all texes, assessments, c�arges, fines and Impositions sttrbutable to the Proparty
<br /> �� �, which may attain prbrity over this Security Instrument, and leasehold pay�ents or qround rents, if 8ny. Borrower shall pay these ==
<br /> obligadons In the manner provided In peragraph 2,or If not pald In that manner. Bonower shell pay them on time dkectly to the person
<br /> fi:�:.
<br /> � owed payment. Borrower shall promptly furnlsh to Lender su notfces of amounts to be pald under this paragraph. If Borrower makes -.�
<br /> these payments dkecly, Bortower shall promptly turn�sh to Londer receipts eWlenoinq the payments. L�
<br /> ,t 8orrower shall prompty discharge any Iien whlCh has prbrfty over this Securky Instrument unlesa Bortower.(a)agrees in writhg to __-
<br /> '' the payment of the obligatbn secured by the Iien h a manner acceptable to lender; (b) contests In pood laith the Ilen by, or defends
<br /> � against enforcement of the Ilen In, lepel proceedings whbh In the lenders ophion operate to prevent the e�forcement of the Ilen; or(c) �
<br /> socures trom the holder ol the Ilen an agreement satisiactory to Lender subordlnattnp the Ilen to thls Security instrument. If Lender
<br /> � determines that any part of the Property is subject to a lien wh�h mey atlin priority over this Security Instrument, Lentler may grve _
<br /> Borrower a notiCe identffying the Ilen. Borcower shall satisfy the Ilen or take one or more of the actions sel fodh above within 10 days
<br /> of the gw�g of noYlce. --
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<br /> 5. Hazerd o�Property Insurance. Bortower shell keep �he Ynprovements now existing Or hereafter ereCted on the
<br /> Properly (nsured aganst loss by fire, hazards included within the term "extended Coverage"and any other hazards,hcluding(loods or __.
<br /> fioodinp, for wh�h Lender requkes insurance. This hsurance shali be rnaintained In the amounts and lor the perlods that Lender -
<br /> requMes. The (nsu�ance carrier providinp the Insurance shall be chosen by Bo►rower subJect to Lendor's approval whiCh Shail not be _ _
<br /> unreasonably withheld. Ii Bonower faiis to malntain coverape described ebove, Lender may,at Lender's optlon,obtain coverage to ,�
<br /> protect Lender's riphts In the Property In eccordance wfth pnrayraph 7. `�- �
<br /> AN Insurance po�Cies and renewals shali be acceptable to Lender and snell Inciude a standard mortgaqe clause. Lender shall have _
<br /> � the rght to hold the pal�lss and reoewais. It Lender requkes, Borrower shail prompty flive to Lender atl recelpts of paid premiums `
<br /> end renewal not�es. In the event of 1065, Borrower shall phre prompt notke to the hsurance cerrier and Lender. Lender may make �
<br /> proof of loss if not made promptly by Borrower. _-
<br /> � Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applfed to restorelion or repafr of the Property ��.. _.
<br /> dameged. ��the restaetlon or repair Is economiCally feasible and Lenders securdy Is not lessened. If the restoratbn or repair IS not -.._
<br />- economfcally feasible or Lender's seCUrtty would be lessened, 1he hisurenCe prpCeeds shall be applied lo the sums seCUred by this �-y-
<br /> Securdy Instrument. whether or not then due, with any ezcess pflid to Barrower. If Borrower abandons the Property, or does not
<br /> , answer wRhin 30 days u notfce from Lender th9t the Insurance carrier hns oflered to settte a Cialm, then Le�der may colbct the ��`
<br /> nsurence proceeds. Lender may use lhe proceeds to repair or restore Ihe Property or to pay sums secured by this Security �=;`_
<br /> - Instrument,whether a not then due.The 30.dny perlod will bepin when the notice Is gNen. ;F::____
<br /> � Uniess Lender end Borcower otherwi3e flgree in writing, any appl�etbn of prxeeds to principal shaM not eMend or postpone the -- -
<br /> Gue dete of the monlhly payments referred to in paragraphs 1 and 2 or chenge the amount of the paym9nts• If under paragraph 21
<br /> ihe Property is acqu'ved by Lender, Borrower'S right to eny insurance poliCies and prdCeedo resulting Nom darnage to the Property prlor _ _ -
<br /> �I to the acqulsiticn shail peSS to I.ender to the extent of the sums secured by this Securqy Instrument Immedlately prior to the �*rt�m _
<br /> 1 acqu�saion. Borrower's Loan ���;:�
<br /> � 6. Occupancy, Preservation, Maintenance and Protectlon of the Property;
<br /> Applieatlon; Leesehoids. Borrowar Shall occupy, establish, end usethe Property as Borrower's prncfpel re5idence within Sixty ��-
<br /> ' Oays aker the execution of this Security Instrument and shall continue to occupy the Property as Borrowers prinClpal resldenCe �or at
<br /> � least one year aker the date of occupancy, unless Londer otherwise agreBS In wriling, whiCh consenl shell not be unreasonably "
<br /> withheld, or uniess exlenuethg CkCUmstances 8xist whfch are beyond BorrowAr's Control. Borrowar shflll not destroy, damage or ImpBir
<br /> 1 1ne Property, allow the Property to deteriqrate, or commit waste on the Prope�ly. Borrower shall be in deleult i any foriotture aCtion or , , �
<br /> i proceeding,whether eivil or criminal,Is begun that in Lenders good feith Judgmeant could result in foAe4ure of the Property or otherwise
<br /> i materielly impair the Il�n created by this Security Instrument or Lenders security interest. Borcower rnay cure sucn a default und
<br />- .n�.sc�mn ac nrnvirle�A In norn�rnnh 1R hv rn��einn fha arflnn nr nrnraadlna 10 he dISf111558d With a rulina ihat. in Lender's pood faith
<br /> . . ._..._._.... -' � -- -- �--o-� -• -• --- o ' - -'- - � . .
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<br /> determinati0n, precludes forteiture oi the Borcower's int�trest in the Prope►ir or other material Mpairmenl of ihe lien created by thiS
<br /> _ I Securdy Instrument a Lender's security interest. Borrower shall also be i�delault il Borrower, durng ine ban appliCatfon process,
<br /> _ gave materielly lalse or inecCUrete inlormetfon or stalementS to Lender (or laitetl to provide Lender with any materigl informatlon) in
<br /> ' ' connection with Ihe ban evidenCetl by ihe NOte, includ�ng, but not limiled tu,representatfon5 Concerning 8orrower's occupenCy of the �
<br /> Propehy as a prncipel resi0ence. II this Secunty Instrument is on a �easehold. E3orrower shall comply wOh ell the provi5ions of Ihe �
<br /> 12ase. If Borrower acquireS lee titlB�o �he Property. ihe �easehold entl ihe lao idle shall not mgrge unless the Lender 8gree5 to the �
<br /> _ merger in wnting. Fo�m �oae e•eo �
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