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<br /> �� , �.� � ��. The Funds sha11 be held in an insutuuan whuse deposits are insured by a federal agency. inswmentaliry• or cnrity ( : � r�
<br /> (incluclin g Lender,if Lender is suc6 an institurion)or in any Federal I-tome Loan Bank. Lender shall apply the Funds to pay th 2 4_:
<br /> . • .. Escrow[ter2s.Ixnder may not c harge B orrowe�f�r h o l d i n g a n d a p p l y i n g c h e F u n d s.a n n u a l t y an:il yzing the esrn�u•a��cuunt.o �,•.4 ,�•.•
<br /> �esy L�ender �s Borrawer interest on the Funds and spplicable law pemiit+Lender to make suc� '`c `.
<br /> :� verifying the FscroR Items. Pay • . :
<br /> ���;'� ".. � �� d charge.Hovwever,Lender may require Borrow�.r to pay a one-[ime charge for an independent reai estate tar rc'p+�ning service ,
<br /> , `�`�.' usc�i by Lender im m�nection with this loan, w►less aPpiicable !aw provides otherw•ise. l;nles+ an agreement is made o� -.`t:`' .....-<<
<br /> � �`� :�����• applicable law rec;uires interest to tse paid,Lender shall not be required to pa}Borrower any enterest or eamin�s an the Funds.�
<br /> Bomnw�er and Lender may agree in writing,however.that interest shail be paid on the F�nd�. ixnder shall gi�e ta 8orrower
<br /> _ -- _ -- �.��;�. . ��nnal acrnurting of the Funds. showing crediu and debits to the Fucuis and�the�p�rpuse:�o��•�� -
<br /> debit to tfie Funds was made.The Funds are pledged as additional secunty for aIf sums��vnsi b} �► z} :.
<br /> � If the Fands held by Lender exceed the amounts permitsed to be hzld by applicable la�v, Lender�halt account to&�rmwe� ��
<br /> .� ` �� for the excess Funds in accordance with the c�guiremenu of appticable taw.If the amount of the Fund.held by Lender at anfa
<br /> .���'`�� time is not sufficient to pay the Escrow Items����n due.4ender may so notify Borruwer in writing,and.in such case Borrower , �-� �
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<br /> �_,�_T shall pa y to Ixnder the amount nec:essary to make up the deficiency. Barrower shall make up tfie deficienry in no more than •
<br /> taretve monihiy payments,a[Lender s sale dis.."retion. = L-y-
<br /> f � Upon pay�:t in fu11 of all sums secured by this Security Instrument. Lender shall promptly refund to Borm«'er any ` 4 .;� .
<br /> Funds held by Lender. If,under paregraph 2�• Lender shall acquire ar�ell the Property.Lender. pnor to the a�yuitiition or�ale .�
<br /> • � . of the Property. sftall app1Y any Funds held by l.ender at the time of acqm.ition or.alr a.s crnlit again.t the+um+.c�cured by t . ,.,�N�.
<br /> ':_-�' . this Securiry Instrument. .
<br /> '` - 3.Appl�cation of Paymeuts.Unles.�applicable law pnivides othenvi,e.ail pay-ment,rctieivr4l hy L.cndrr undrr p.uacr.�ph+
<br /> ' � �'• 1 and 2 shatl be applied: fir�t.to any pmp:�ymenc charges due under th�Nuee:suond. to amount.payable un�ler p:u�agraph 2: '�
<br /> ���� third,ta interest Ju�:fuunb.to principai due:aqJ l:ut.tv any late charges due under thc Notr. , LL .+�� -_
<br />��'. ' 4.Charges: [.iens. Bonower shall pay uU taxes,as.�5yments.charges. fines and impu.itinm attributabte tn the Pruperty
<br />_�.`;. •' " which may attain priority over this Securit�• ln,trunient. and tea,ehold payments ar graund rents, if any. Bnrr��+ver ste:ill p�y '.`• ,�..•
<br /> `�` � th�ye��bligatiaa.in the manner provided in par,�gr3ph 3,or if nat paid in that m:uiner.6�ru�wer�hall pay dirm un�imr dircctly � _
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<br /> �: , tu the pecsn.h o�vrd puyment. Borr<iwer shafl pn�mptiy fumish to L.ender all natie�.+uf amounta tu be psid under thic ra ra �. r:� ;:-
<br />�� • If Normwer makes these payettents direcely.Bormwer�hall prampdy fumi.h to Lendcr rcmipt,evidenring the paynunts.
<br />�i,: ' . ` ' � Borrower r:hall prumptly discharge any lien w hic h h:is priuri t y u v e r t h i s S e c u ri t y I mtrument un(e+s Bnrruv►er.(a)agrces in , _
<br /> �y . .. , writing ta the payment uf the abligation�e�urecl by the lien in e nwnnes'acceptable cu l.ender:Ib)cunte�tti+n g��uJ faith the licn __
<br /> , .���'` by. �r defends again+t et�forcement of the lien in. legal pnrceedings �vhich in the Lende�s opiaion nperaic: to prevent the _ w
<br /> ���'•� � ' enfomcment of the lien:ar(c)sekure�:from thc hulder of�hc lirn an agrcement satisfa�tory to Ixndcr,uburdinating thc lien to -
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<br /> ---• -- -� � - this Security Ynsirument. If Lender detertnines tfiat any part of the Property is subjeti to a{ien which may attain prioriry oti�cr
<br /> .�� - this Security Instrument, Leruier may gi�•e Burrower a nntice identifying the lien.&irrower�hall satisfy the lien ur takc une or _ _
<br /> t`.`:� ' • ittore of the actions set forth abnve within lU days ot'the giving of noticc. ` "-
<br /> •;;;.'',- 5. Hazard or Property Insurance. Borro�er �hall keep the improvement+ now existing or hereafter crecteJ on the �' �'�; ;�,.�--
<br /> � � Prapeay insurect against loss by fire, hazards included within the term "extended coverage" and any other hazards, irtcluding ' ,1�,._;_
<br /> � ' ' `�'� flood+or flooding,for which Lende�requires insurance.This iasurance shall 6e m:iintained in the amaunts and for the periads _
<br /> • ° .- that Lender requires. The insurance carrier providing the insurance chafl be ehosen hy Borrower subject to Lender's appcoval _ -_
<br /> .-•' �� which shall not be unreasonably withheld. If Borrower fails to maintain coverage described abc�ve, l.tnder may. at l.ender's ,,,�,�
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<br /> ; option,obiain coterage to pratect Lender'�righ�i in the PropeRy in accordance��ith paragraph 7. ,:E;,.,�_ y:_-_
<br /> All insura��:.e policie.ti and renewals +hall be acceptable to l.ender and shall inrlude a standard mortgaae clause. Lender
<br /> � • :„��.�s shali have the�ght to hold the policies and renewals. if Lxnder rec{uires.Borrower shall promptly give to Lender all receipts of , ,
<br /> � . . , paid premiums and renewal�rotices•In the event of lo�s,Borrower�hall gi�•e prompt nc�tice tu the�nsurance carrier and ixnder. f, .. , .;�
<br /> Lender may make proof of loss if nat made pramptly by Borcow•er. `•;�%��:, �"`r"'
<br /> :.(��t ' � Unle�.s Lender and Borro�ver othera�ise agree in wnt�ng. insurance proceeds shall be applied to restoration or repair of the �°.;;� : �:�.
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<br /> � ,= � �' Property damagec3.if the restor�tion or repair is eronomically feasible and Lendei s seeurity �s not lessened.If the restotAtion ur . ..;:
<br />?��'. �� � repair is not economically feasibte or Lend�r's security wauld be lessened,the insurance proceeds shal}be applied co the sums ,•;;.. �+;.�.__
<br /> =�•' ` - ��' -�- secured by this Security lnstrument, ah�hec or not then due, with anY exces�paid to Borrower. i�Bonower abandons the " .. . ��,.
<br /> �, � Propercy. or does not answer within 3C.iays a noticc fran�Lender that the insurance r•►rrier bati oSfered to settle a claim. then ":�.; : �,;,.
<br /> . • .. ' � ` %� • (nr.��r may ooliect the insurance pn�ceeds. Lender may use the proceeds to repair or restore the Property or to pay sums _�;n�; ,=�
<br /> ' .` ' sec:.�red by thi�Securiry Inatrvment,�vhether or not then due.'1'he 30-day period wilt begin when the notice is given. ,t,�� , ;
<br /> � Unless Lender and Bonawer otherwise agrre in writing, any upplicatian of proceeds to principal shaU nol extend or - _
<br />;_::';.� . postpone the due date of the manthly payment�refeneci tn in paragraphs 1 and 2 ar change the amount of the paymenGs. [f �
<br /> •- � under para�raph 21 the Property i,acquired by Lender. Bunower's ri�t to any� insurance pnlicics and proceeds resulting frotr.
<br /> -�" � damagc to thc Property priar to the acqmsiuon shail pa+s tn Lender to thc�xtent of the sums scxnred by thic Security(nstrumeitt ; ; ,�
<br /> "': ' • immediately prior t��the acquicition. `°�:,.'�•�',::
<br /> �:.:.'. � � � - 6.�cupancy.Pre:cervatton,b'Iaintenance and Protect ion o f t he P rope r r�:B o rr a w e r's i.oau A p p!leatton;l.easeholds. ;, ... _
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<br /> � � � � Borrawer shall occupy.eswblitih,and u�e the Property as Borruwer's pr;ncipal residence within tiixty dayy after the exec�utinn of _
<br /> ` . � this Security Instrument an�!+hall continu�tu occ:upy the Propeny uc Bntt�wer'�principa) re�idence for at le�ast one year after ':_��_�
<br /> r-''' � . • • � the Jate c�f occupancy. unle��lxndcr utherwise agrces in writing. which conticnt tihall not be unrea.�onably withheld, or unless
<br /> ' ' extenuating circumstanceti cxist which are beyonJ &�rrower's ronuol. Borrnwer tihall not detitroy, d:unage or impair the ,�F_ ��
<br /> ;`.��. � ,. � � '� Propeny. :�Ilow the Pruprrty to detcrioratc. ur cummit waytc on the Pmperty. Borrower shaU be in default if any forfeiture
<br /> . - �� ' action or prcxeeding. whet?:er civil ur crimin:J.i+ begun that in Lender's good taith juJgment�ouW r�tiult in forfe�tum of the
<br /> , . . Propcny or otherwi,e matcrially imp:�ir thc lien crc;atal by this Security Instrumcnt ur Lendcr'ti security intcrc�t.Burcowcr may
<br /> .r�_..•, cure such a default and reinstate.as pruvidcd in paragraph 18.by cau.in,the acti�>n��r pnxealing tu he dirmissed with a ruling
<br /> that. in Lender's g��od F.�ith determinatiun, preclude� forfeiture of' the Burrnw�r'y intercst in dm Prc�peny ar other material
<br /> ' impairmem nf thc lien cTwtcJ hy this Sccurity lmtrume�u��r l.cnder'+ �crurity intcrcu. Qarrowrr sliall alsu he in dcfault if • .
<br /> ' Bunower. during thc loan applic�tion pmee...gavc materially fahe ur inaccura[�infurmati�m��r�tatementti t�l.ender for fAileel
<br /> •� . . tn provide I�;nder with any materiat �nfurmatiun) in connccliun with the toan evidenccd hy dio 1`ute. including,bui nol limited .
<br /> ��., to. representationc concem�ng Bonuwer',uccupancy uf Ihe Pmpeny ati u principal re�idenee. If thiti Sexuriry lurtrument iti on a w
<br /> leaschotd. 8orrowcr sh�ll comply with aU Uic prov��iunti uf thc Ica.c. If Borcowcr acyuirc. fcc titic tu thc Pruperty, thc
<br /> �� � • •� IcatichulJ and thc fi�c title�hall nat mcrgc unlc�c l.e:nder agrecti tu the mergcr in writing. ,
<br /> 7.Nrotcction of l.cndcr's lti�hts in the Ih'operfy.If Burruwcr fails tn perfi.rm thc cuccnan4�and agrccmcnts wntaincJ in
<br /> ' thi.Sccuriry Imtrumenl. �,r Ihere i�a Icg;d prnceuling that may tiignifcantly alfect IAnder'� rightti in Ihr Proprny I�ucl�a�a .
<br /> , ' � prncccding ii� hankruptcy. ptnbatc. G�r cun�lrmn:etiun or forfciture ur to cnfnrcc law.��r rcLUlatiun,l. thcn Iw:ndcr�nay do and
<br /> pay tor �vhat�ver i, ncce�+ary tu prate�t U�e value uf the Pruperly anJ lander'� righl.in �hr Pruprrty. lAttder'� actinny may .
<br /> ,;.. � �' . . m.ludc payinr :my ,um, ,ecurcd by a licn whirh ha� priority ��vcr thi. Security� In�trwnrnt. apprarin� in ruurt. paying .
<br /> . rea,nnahle auurncy+' tec+and cntcrins:un thc Pn►perty tc�makc repair�. Ahh�,u�l� I.�nJcr may take acuun w�dcr tl►iti par�graph .
<br /> . . � 7. Ixndcr duc�nnt have tu Ju tia.
<br /> ' Anv :im�+unt. ditihur�ed h� I�nder under thtti para�.raph 7 �hall hec�,ine a�l�liliun:d deht uf H�,rruw•er .ecured by thi+ .
<br /> � - • Srcutity Intitrumcnt. l�nlr�•R��rruwrr and IAndcr agmc lu ullur tenn. uf paymcm. dic,r :un�nu��, ,hall hrar intcrc�t tumi thc ,
<br /> . „ . datc nf di.rbuncmenl al Ihc �utc ratc anJ .hall hc payahlc. wrth intrrc,t. u{�m n�,tirr Iru�n I.��nilrr tn Ii�+rnnvcr rcyur,ling � .
<br /> . paymcnt. '.'
<br /> . S. '�lnrt�a�;r In�ur.�ncr. lf L�ndcr rryuirrd nwrt�!:�_L'C imlrf��ilcC 7ti a���I�Jll�ull u1��1:►k����thr I�,.w•crurcd hy thir ticcuritY
<br /> .- . .. In.wtnent. Hurruwrr �hall pa� thc pnmiunn r�yuircJ tu tnaintau� tl�c mnrt�aLr �n.ur,�nrr �n cticct. If, fur:my n�,un. Ihe
<br /> q • �iiun�;a�c in.uranr� co�•cra�c rr��uirrJ by Lrndcr I:ip�c�ur rca+c,tu hr in ri'fcrt. li��iru��rr,h:dl pay tltc prr�uiumti reyuircd t�� '
<br /> • ' uhcun�mcrage yub�tantiall� rqurv:drnt tu th�murtgagc �n,ur.itire previously in cllrcl.ci1 .�c��.t,ub,tanUally cyuivalenl t��lhr
<br /> ' , ���,i t„ Iiuf���«'Cf U� lI1C lllOfl_L'Arl' �nwr.�nic prc�•���u�l�� in rltrct. frum an altcrnatc tnurtia�:r rotiurcr .ippnwcd hy lwndrr. lf ,
<br /> • ,,, � ;� Form 3028 9�90
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