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<br /> � � Borrower's escrow account under the tederal Real Estate Sautemeat Pracedures Act ot 7974 as amended trom time ro time. 72 U.S.C.
<br /> . _ . F
<br /> . . • 26dt et seq.('RESPA').unless anotner law that apPlies to the�unds sets a tesser amourK. 1!so.Lender may,at a�y tune.collect a�d ��.`,. ��� � �`. ;' ' `
<br /> � << � � � hold Funds�an amount nat to enceed the less�+r amoun� Lender may estirtmte the amaunt nf tunds dus on the Easis ot current data � �,�;.,.:t .
<br /> �`, end reasonable esOmates ot expendRUres ot future Escrow Itams or othervlise in accordanca wnh aAP���W
<br /> ` • � The Funds shall lse held in an �stitution whose depos�s are insurad by a teQecal agency. �►strume�la►itY. or entiry (including � L
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<br /> m . n or in an Feder8l Home Loen 88nk- I.ender shau apPry tne Funds to pay the Esuaw ttems. '
<br /> �., ,�� . _ .
<br /> � Lender. it lender is sueh an stduUO ) Y c ' �,;t `�%?.
<br /> LEtnder may not eharge Borrowet tor hotding end aPOh�9 the FundS.annt�lty anatyrin9 tha escrow 8�xount,ar veritying the Escrow• � �'.,�,
<br /> � . - ' ttems,untess Lender pays Bartower interest an the Funds and eppl3cabla 1aw perm3s Lendsr to make such a charge. Hawever,Lender � � �
<br /> , • may requae Boaower to pay a ane-i�ne charge tor an �dapendent reat esta�tex reportfig service usad by Lender�connecdon wsh � �_ : r .
<br /> this loan.unless appGcebte faw D
<br /> ravtdes otherwise. Unfess an egreement Ls rte�de or appCxabie faw requh�es intetest to be Daid,Lender � ��,. , `. . �
<br /> � sha11 not be required to pay Barrower any interest ar eamings on the Funds. 8orrawar and Lender may a�e9�wr�n9. howe+rer.that � �, �
<br /> - interest shaU be pa�d on ttie Fund&. Lender ShaS! giv9 to Bortower, wa!►out Cherge, an e�nuai 8ccounting ot the Funds, showmg � � ��;• �
<br /> ,, � credits and debAs to the Funds and the purpose tor whicri each detrit to the Funds was made. The Funds are p►edged as additionai ,
<br /> gecurity tor all sums SeCUred by this Security Instrument ' _�'-_
<br /> . i!the Funds heid by Lender e�cceed the amounts permitted to t�e hetd by appiicable iaw,Lender shail accouM to 8onovrer tor the . c ,`��
<br /> � exce55 Funtls in accordance �vrth the requuements o!applicabis Iaw• it Me emount of the Funds hetd by Lender at any tune is not �.e: ` .
<br /> ' ` � �` suthcient to pay We Escrow Items when due,Lender rr�ey so notiry Borcower in writln9.enA.in such case Bortower sha0 pay to Lender
<br /> � � , tha emount necessary to make up the tieficiency.Borrower shall make up th9 defiClencY in no more then tweNe monthly payments.at '�.,>` . .
<br /> �.. � 1.ender's�soie discretlon. ��
<br /> Upon payment in fuU of eU sums secured by this Security tnstrumenL Lertder shall promptly refimd to Borrovrer any Funds hetd by • •- ; �.�=�•�
<br /> � lender. If.under P�9�DA 21.Lender shall acQuee or selt the ProPe1�Y.��Prior to the acquisi�on or sale at Me Proparty.shail �� ' ,�� '
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<br /> . '`., ePPh�y Funds hatd by Lender at t�e time of ac9uisition or sa�as 8 cred'd aga'vist the sums secured by this Seeurty Msbrumen4 � •�" � ,.. �M ,
<br />_... �� ; 3. Applicatton of Payments. Ualess aPPTtt�ble taw provides otAemiSe.aU PaYmer�s ceceived Dy Ler►der under parsgraphs • . y.. __.
<br /> ., �.�r
<br /> ' - . , ':,� 1 and 2 sNall be applie� fQSt,to anY P�DaYment charges due under the Note:secand,to 8mounts paYable under Para9►Sph 2:thQd ., �,. �' �a. _�=
<br /> � � to mterest due:fourth.to prmc�al due:and last,to any ta�cha�ges due urtder the Note. � �
<br /> • .` : i ' 4. ChSf$@S; Liens. Borcawer shall pay sU taxes, assessments, charges, fines and 'unpositions �ttnbutabte to the Properry .` ,�. .;;
<br />" ' .� which may auain priorityr over this Security Insbument. end teasehold payments or ground rents. N any. Borrower Shall psy these � � ,`>�-�`:
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<br /> � ' obfigations in the manner provided m perag�aiph 2,or it not pa�d�that manner,8orrower shall pay them on time dQectql to the persan ` -
<br /> � ' . �_,`-�? owed payment. Eznower shall promptry tumish to Lender afl notices of amounts ro be peld under thls pa�agraph- If Borrower makes ��,,.••� `��-�`
<br /> ,�`{ these payments d"vecUy.Bortowar shall promptly fumish to LenQer receipts evidencing the paymenis. �;.� .• `�';i=. .
<br /> �4 Bortower shail prompUyr discharge any lien wh(ch has prioriry aver tfiis SeCUrity instru�uNess Bor►ower.(a)agrees m wr�►g to .`'�••I � �;,.,...;�
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<br /> . - �'.L the payment of the obiigation securetl by the lIen in a manner aCCeptBb(e to Lender.(b)conte5ts In 9ood fafth the Gen by,or defends :? . u��
<br /> - , .. : . ' against enforcement af the lien�, legal proceedings which in the Lender's opinton opetate to prevent the eniorCement of the lien;or(c) '•, �1�_.i=
<br /> secures ham the hotder ot the lien en agreerr+ent satisfactory to Lender subordfiattng the C�en to this Secunty Insbrumen� If Lertder ��•°_ _
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<br /> dstertnines that any part of the Property is subject to a lien wh(cA may attain priorityr Over th�:Security Instrument, Lender may give ��a
<br /> ' � 8orrower a notice identi[ying the lien- Bortower 5ha11 satisfy the Gen or take one or mora of the aetions set forth ebove witAin t0 days � . -�_—
<br /> • ot the giving of notice.
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<br /> � 5. Hazard or Property insurance. BoaOwer Sh80 keBD the img►ovemBntS now existing or here8ftet 8r2Ct8d on the �� -•�',.;�,;_�
<br /> � � Property insured aga�st loss by Fire,nazards incaded wrthm the tertn"extendad coverage'and any other hazards,inctuding floods or ��•��.
<br /> flooding, for which Lender requires msuranCe. This insurance shatl be maintained tn the amounts and tor the periods that Lender � �-_
<br /> requUes. The o�surance carrler Pro+ridin9 the insuranee shaU bo c�osen by Borrower sub;ect to Lendefs apAroval which ShaD�ot be �'�_�"'
<br /> _ .. . . . �-. " 's,?.�'_.4S_:.c.
<br /> -- �- � � unreasonabty withhetd. If Borrower faiis w mau+ta(n coverage descr�bed above,Lender may,at Lende�s option,obmh�eoverage to ;,,-••--,._
<br /> � protect Lenders rights in the Property in accordance with paragraph 7. . �, ��: ��-'�-
<br /> ' • � � � All insurance poficies and renewais shall be aCCepte618 to Lender end shell tnCiude a standerd mortgage ctause. Lender shali have . �.�,�;y ..
<br /> . ' � ' the rght to hotd the polic(es and reneweis. It Lender requires, 8orrower Shait prompUy give to LenQer all receipts of pa(d premtums . ' ��
<br /> � � artd renewal notices. in the event ot loss,Bonower shaN giva prompt nofice to the insurance carrier and Lender. Lender may make • ;�•�,�
<br /> ` - • .� proof ot loss tt not made promptty by 8orcower. �` ' .�'`�•-
<br /> ` � � � � UNess lsader and Bonower othervvise agree in writin9, insurence proceeds shall be apD��ed to restoration or repa'v o1 the Ptoperty . qs•.
<br /> damaged,i1 the restoratton or repab is economtcaily feas�bl9 and Lenders securityr is not lessened. If the restoreUOn o�repab is not _����;'�•
<br /> _ _ � .� eCOnomicatry feasble or LenCer's security would be Iess8ne0. the insurance proceeds shell be epp�ed to the sums secured by this � . < :�-`;�
<br /> Securrty instrument, whether or not then due, with eny excess paid to Bortower. If Bortower flbandons the Property, or does not
<br /> � j answer within 30 days a notice ttom Lender thet the �nsutence carrier has oHerad to settte a Ctaim, then LenQer rnay colteet the . ..- �_-
<br /> . � � ��.:� msurance proceeds. Lender may use the proceeds ro repatr or restore the PropeAy or to pay sums secured by this Security ..
<br /> '. • � Insuument,wAether o�not then due.The 34day perlod will begin when tAe notke is ghrea ^
<br /> ��� Untess Lender and Bortower othervvise agree in wrRing, any apD�icBtion of proceeds to ptMCipal sfiall not extend or postpone the ._ � •
<br /> �� eue date of the monthry payments referred to in paragrephs � and 2 or chanpe the amount of the paymsnts. If under paraSraPh 21
<br /> ' ! the PropeAy is acquUed by Lender,Bonowers right to any insurance p011ctes and proceeds result�9 from dam8ga to the PropeRy priar
<br /> �F � � to the aCquisition Shall pass to Lender to the extent ot the Sums Secured by thls Securiry InSWment Unmed�atety prior to the , �
<br /> . acqulsRion. - . �
<br /> 6. Occupancy, Preservation, Maintenance and ProtecUon of the P�operty; Borrower's Loan � .
<br /> � AppUcatio�; L68S8hOid8. 8orcower shall accupy,establish, and use the Property as Borrower's principat residence within sary . .
<br /> ' , ' days after the exeCUHon ot this Security Instrument and shell cont�nue to oCCUpy the Property es Bonower's principa4 re5idence for et ,
<br />-.- { teast�one year after the date of OCCUpaecy, unfess Lender otherwise agrees In wripn9, whlch consent Shali not be unreesonabfy
<br /> � � withhetd,or un�ess extenvating circumstances exist whbh are beyon0 Borrowers control. Borrower shall not desVOy,damage or impaU .
<br /> the Property. ailow the PropeAy to deterlorate, or commit waste on the Property. 8ortower shaq be in defau(t N any torteiture action or �
<br /> � .� proceeding,whether civil or criminal,is begun that in Lender's good faith Judgment could resuft in toAeiture o1 the Property or otherwise ,
<br /> .� materialty impair the Iien crea�e0 by thls Securily InSWment or Lender9 seCUrityr Interest. 8onower may Cure such a default a�d ,
<br /> . i reinstate,as provided in paragrapn t8, by causing the aCNon or proCeeding to be dismissed with a ruling that, in Lendels good taith
<br /> � determination, precludes torteiture of t�e Borrower's interest in the PropeRy or other materlal impairment ot the lien creatad by this , �
<br /> SeCUrdy Instrument o� Lender's security interest. Borrower shall also be in detaufl � Bortower, during the Ioan flpplicaHon process. � .
<br /> ,i� • � gave materialty fa[se or inaccurate intormation or statements to Lender (or taii�d to provlde Lender with any materiai in}otmation) in
<br /> � ' � connect�on with th0 loan evidOnCed by the NOtB.�ncludmg. but not �vnded to. representat�ons concernmg Borrower's occupanCy of the
<br /> . Property as a prinC�pe� res�dence. If th�s SeCUrAy I�strument �s on a Ieasehold, Borrower snan compry v�dh ail Ihe prov�sians ot rhe �
<br /> i tease. u Borrower acqu�res lee ta�e to the Property, Ih9 leasehold and the fee tRte shall not me�ge unless the Lender agress to the •
<br /> ` , merger m wntmg. , . .� ..
<br /> Form 3028 9/BO
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<br />.. ..•` Fi01B.LMO I+Oi971 Pa o 2 0l S . . .
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