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<br /> ,`: �` � Bnrtawers eserow eccount und�Hte tederai Reai�te Setflement Procedures Act o!1974 as amended i[om Ume to Hme,12 U.S.G. ``• ` � �, .
<br /> �� ,`` ` ` 2601 et seq. ('HESPA').untess enather lew that adsp0es to the Funds seta a lesser amount It s0. Lender may,at any Uma eoRect and �? ,• , _
<br /> ..t`i.':
<br /> ' hold Funds In en amount not to exceed the lesser amou�rt. Lende►may esttmate the amount af turtds due on the basis ot arrerri 6ata �
<br /> .� ".,�`• <i and reaso�ab(e esUmades o!e�end'iQues o1 future Escrew Items cr otherwise in accordance with appQeabte Iaw. . ._.
<br /> .. • ,� , ` The Funds shaU be hetd in an instiw�on whose deposb are i�sured by a tederal agenty, instrumentaliry. or entiry(6�dud'ing , ; _ .
<br />_ • , t- '�`� '• Lender,H Lender ts such an Insl�uUon)or in any Fed�ai Hcme Laen Bank lender shaU appty the Funds to pay the Esaow Itema . '��•-y-
<br /> ,'� :: . � Lender m�+ nct chacge 8ortower tor holding and epplyfng tt�e Funds,annualiy anaiytiing the esaaw acc,rourt,or v�tyring the Escrow ' '• ��•
<br /> �e'.. ..
<br /> �� ° � ` � � � Items,unless Lend�pays Bomower irrterest on the Funds and appUosble faw perrnits Lender to make sucfi a charga Howe�rer.Lender (� . �
<br /> ' �. . � may tequfre Bartower to pay e one time charge for an Independcmt real estate tax reporting s�vtce used by lender in connectfon w(th � `�`, °
<br /> •� , . � � this toan,uNess applicable taw provtdes othe�wise. Untess an a�eement(s made or applicable law requ�res triter�st to be patd,IAIdBF , •�
<br /> shaD not be required to pay 8orrower any(nterest or eamings on the Fursds. Bartower end Lender may agree tn writing,however.that � , �
<br /> f` �'""�� Urterest shali ba paid on the Funds. Lender sha0 g[ve to 8orrower,without charge, an annual accounUng oi tfie Furtds. showing � -
<br /> _---f-=-=,-`_. "`-�-'' -
<br /> �;f 4 ' . credits and detids to tho funds artd the purpose for whlch each debft to the Funds was made The Funds are pledged as edd�tionai � - , �
<br /> , y seauity for afl sums secured by thfs Securfty Instrumerrt. � � ,:_•
<br /> ` N tfie Funds held by l�der exceed the amounts pertnitted to be hefd by applieabte taw, Lender shall accourn to Borrower tor the � �; -
<br /> �"' � excess Funds(n a�ord�nce with the rec�uiremenis of epp4rable iaw. If the amoura oi ti�e Funds held by Lender at arry time is noi W . ;,,,� ; °`:. :
<br /> 4�� � sufficferrt W pay the Esaow Items when due,Lender may so noV7y Bortower(n writlng,end,in sueh case Borrower shaU pay ta Lender . 4`� ..
<br /> �' � ' ". ` the amount necessary to make up the defldency. Borrower shall maice t►p the defrdenay in no more than twelve monthly payments,at � -_ -
<br /> ;;" .` . ` Lenders sote discretion. • =_-
<br />.<� t• , ' Upon payment in fuU oi a0 sums secured by thls 3ecurtly InstrumenT, L.ender shail prompfty refun8 to Borrower arry Funds held by �':f-:� �r`"'''^=�-,
<br /> - Lender. 1f, under paragraph 21.Lender shaU acquUe or se0 the Propedy, Lender. pdor to the acqulsiNon or sale of tha Property,shall � . '�;�;'�;•_�,�
<br />-�..�• : apply arry F�nds heid by Lender at the tlme ot acquisidon ar sale as a aed�against the sums secured by this Security Instrurrtent �`; ,�,.'":,<i
<br /> T. 3.Applicatton of Payments. Unless appGcab(e Iaw providea othe�wlse,aU payments received by t.ender under paragt8phs ; ���'.;; �,
<br />=�7 � . . S . ..
<br /> - 1 end 2 shaD be appfled:first, to anY ptepaytneni charges due under ihe Nat� secoad,to amounts payabie under paragrepn �third ���4.��: .'-
<br /> sr j . ' .."? to inte2S2 du�f01i1th.t0 prinCipal dU�Hnd 13st.to eny hdte ChSR,�es due u[ldel the Not� �� � -
<br /> �'`;'''v:''� ', 4,Charge� Uens. Bortower shaU pay ail ta�ces, assessments, charges, fines and imposidons attributabte to the Properry �_-
<br /> ,,. . ...,.<,,.;,-, . � . �..:�_._
<br /> ' r.'�..�. ` ` ..:.•�=:' whieh may aiffi!n pdority over this Security tnstrument, end teasehotd paymeits or ground rents. fi arry. Borrower sha4 pay tltese
<br /> .. . �v _ �'—
<br />�t ; � �, obligaUons in the manner provided M paragmph 2, or if not pa[d in that manner,Bortower shaD pay them on tlme d'uectly to the person • ' �_
<br /> �� `- � - owed payment Borrower shail promptty tumish to Lender a6 no�ces of amounts to be paid under thls paragraph. It BoROwer makes . � .
<br /> • ''�-"'=-
<br /> these paymenta dinedgt.Borrower sda0 prompU}r tumtsh to Lender receipts evidendng the payme►�ts. , '.. r,;°���:s_--
<br /> �}-,: Borrower ahall prompriy dtscharge any lisn whtch has priority over thls Security Instrument unless Bortower.(a)a�ees in writlng to � , .�4`�.
<br /> . � -� the paymer�i o(the obligation secured by the Uen in a manner acceptebis to Lertder:(b) corrtesb in goed taith the Iten by,or Qefends `�����tT.� -
<br /> � ��:
<br /> ,�rl. . agatnst enforeement of the Iten tn,fegaF proceedtngs which fn the Lender's opinion operata to preveni the enforcement ot the�en;or(c) '
<br /> � ' . seares from the hotder af the�n an agreement eaUsfactory to Lender subordinating ths Oen to thts Security Instrument. IE Lender . _�
<br /> �.=
<br /> , ' . deterrNnes that any paR o!the Properiy is subJect to e Ilen whicb may attetn priority over this Secur#ry Instrumen� Lertder may ghre —�
<br /> �.�': � Borrower a notice identitytng the Oen. Bortower shali sa9aty the lien ar take one or more o1 the actlons set farih ebove wilhin 10 Qays . , �. :_
<br /> ; , . ot the giving of notice. � . ,.�
<br /> - '' • ' 5.Ft�ard or Property Insurartae. BoROwer shaU keep the improvemenis now mcisUng or hereafter erected an the
<br /> , • � Prope�ty tnsured agatnat lass by fire,hazards fnduded wfthin the tertn'extended coverage'and any other ha�ards,induding 4aods or �' � -� -�''"�"�
<br />��� _ . _ , '' f[aoding,for which Lender requires insurance. This insurance shatl be matruained in the smoums ertd tor tha pe�toQs that Lender .: ' �a„r-.
<br /> .,.�.,:i. . . ...�,: '�
<br /> �., ,�• requUes. The insurance cartler provid(ng the insurance shall be chosen by Borrower subject to Lender's approva)which ahal! not 6e , : ._�.,,
<br /> unreasanaby withfield. H Borrower fails to maintain coverage desa@ed ebove,LenQer may,at Lender's opUon, obtaln coverage to ` �`�"_
<br /> � � {�rotect Lenders dghts in the PropeRy U accordance wrih paragraph 7. . , • �.--
<br /> . •� M insurance pollcies end renawais shaU be accepteble to Lender and shall inctude e stendard mortgage clause. Lender shall have ` , a=
<br /> ;�.� ' the right to hold the pofides and renewais. it Lender requtres, Borrower shall prompty ghre to Lender ail�ecelpts of paid premiums , �';�-
<br /> � ? .. and renewaf noUces. In the event ot toss, Borrower�shall give prompt noUce to tha insurance carrJer and Lender. Lender may make � � "'`�-� �
<br />��= ; :- • � proof of loss H not mada prompUy by Borrower. ��
<br /> � ' � Untess Lender end Borrower othervulse agrea in wrtdng,insurance proceeds shsll be appUed to restoration or repair oi the PropeRy „ . �
<br /> � ' � damaged, if the restoraUon or repair Is economlcallyr feasible and Lenders security is not lessened. fl the restora0on or repa(r is not � ' ..
<br /> economicaIly teasmle or Lender's security would be lessened, the insurance proceeds shall be ap�IIed to the sums secured by this •. �
<br /> ' ' '� 8ecurily(rsKrument, whether or not then due, with eny excess paid to Borrower. If Borrower a:andons the PropeRy, or does no! ' . ' - :
<br /> , . answer within 30 days a noUce from Lender that the Insurance cartier has oHered to settte a clatm, then lender may wltecl the �: .
<br /> � (nsurance proceeds. Lender may use the proceeds to repa(r or restore the Proaerty or to pay sums secured by this Security ' � � .
<br /> � • . Instrument,whether or not then due.The 34day pedod wtil begin when ihe notice is given. : ' .
<br /> � Unless Lender and Barrower othenvlse agrea in wrftlng, any applicaUon o1 proceeds to prinGpal shell not extend or postpone the , , ' ,
<br /> `•'� ' � due date of the monthly payments refer►ed to in ara hs 1 and 2 or chan e the amouni ot the
<br /> �y p gap g paymerrts. B under para�aph 21 .
<br /> . � the Property is aequired by Leoder, Borrower's dght to any Insurance policies and ptoceeds resuking from damage to the Property pdor ' ' .
<br /> ''Z to the acquisRion shall pass to Lender to the e�dent of the sums secured by this 3etudty Instrument immedlatety pdor to the •
<br /> '-'t . . � � , ,
<br /> ': acquis�ion.
<br /> 8. Occupancy, Preservation, Maintenance and Protection af the Property: Borrcwer's Loan . .
<br /> . � . Appliea4ioa; Le888hOtf18. Bortower shall occupy, establish,and use the Property as BortowePs prinGpai residenee wfthin sixly �
<br /> �,:.. ; ' � dayra efter ihe executlon of this Secudty Instrument and shail conUnue to occupy the Property as Bortower's pdnGpat restdence for at � �
<br /> ' • � least one year after the date ot occupancy, untess Lender otherovise agrees in wriUng, which consent shall not be unreasonabry � ,
<br /> � wRhhetd,or uniess extenuaUng circumstences exist which are beyond Borrower's control. 8orrower shall nol destroy, damage or impair �• •
<br /> the Property, allow the Property to detedorate. or commft waste on the PropeAy. Borrower shall be in defautt if eny toAefture acUon or • .
<br /> proceeding,whether civil or crlminal. is begun thet in LendePs good taith judgment could result In toAeiture of the Properly or oihetwise • .
<br /> : ' � matetially impair the Oen txeated by this Secur(ty instrument or Lender's security Interest Bonower may cure such a detauit and ,� '
<br /> relnstete.as provided in paregraph 18, by causing 1he action or proeeeding to be dismissed with a ruiing that,In Lender's good taRh �t%
<br /> � detertnination, precludes for(eiture oi the Bortower's Interest in tha Property or other matedal Impafrment ot the lien ueated by this �
<br /> � ' � Security Instrument or Lender's security interest. Bortower shell also be In default N 8ortower, dudng the loan appiicatlon process, � � .�
<br />_ .::_�.. ' gave matedatty teise or inaccurate infortnation or stetementa to Lender (or failed to provlde Lender wfth any materlal inTormaUon) in � . . •
<br /> -� , connection with the ban evidenced by the Note, inciuding,but not limtted to,representaUons conceming 8orrawer's occupancy o1 the �
<br /> _;'•,.., i Property as a pdncipat residence. It this 3ecurity Instrument is on a Ieasehold. Bortower shall compty with all the provislons o11he �' ,
<br /> � lease. If Bonower acquires tee title to the Properry, the leasehold and the tee title shall not merge untesa tho Lender agrees to tha : � ,
<br /> .. merger in writing. � .
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