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<br /> � : , � � The Funds sl�all be hetd in an instituaon whose deposits are iruured by a federal sgency. instrumentality. or entity <•
<br /> � (inciuding Lender.if Leuder is such an institution)or in any Federal Home Lx�an Bank.Ixnder shal!apply we Fund+to pay the �' z••
<br /> '� 'Y ' Escroa Items. (.ender may not charge Borrower for hotding and applyiag the Funds,annnally anal�•zing the escmw account.ar � `` ` ;� •..
<br /> � � verifying the Escrow items, unt�ti l,ender pays Barrower interest on the Funds and applicable law permus Lender to make sueh - °�s'�� �
<br />•'°�, .` , a charge. However,Lender may require Borrow•er to pay a one-time charge for an independent reai c�tate Fax reportiag service � '<. �` ` ' ;t. �
<br /> , used by I.ender im m�nection with this loan. unless appliqble law provides othenvise. Unless an agreement is made or � « G �; t
<br /> � �. applicable lau•requires interest ta be paid,l.ender shat!not be requiced to pay Borrower any inter�t or rarnings on the Funds. `�.` ��
<br /> ` ` .� . ' Borrower and L,ender may agree in tivriting, however,that interest shall be paid on the Fundti. Lender shall give to Borrower. . +;. �
<br /> � � without charge, as annual aecounting of the Funds, showing crediu and debits to the Funds and the purpose for �vhich eaeh .
<br /> i' dcbit to the Funds a�a.made.The Funds are pledged as addirional security for a!1 sums secure6 by this Security Instrument. �- . ,
<br /> ` If[he Fands held by l.e.nder exceed the amounts permitted to be held by applicable law.Lender shall account to Borrower `'- � . •
<br /> ` , �- for the excess Funds in accardance with the requirements of applicable la�c. If the amount of the Funds hetd by Lender at atry _ _ _ __
<br /> t ;.-_ �� lime is not sufficient to pay the Escrow Items wheo due.Lender may so notify Borrower in writing.and.in sach catie Borrower �_ .
<br /> shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in nu more than •,�
<br /> � '4 twelve monthly payments,at Lender's sole discretion. •
<br /> Upon payment in full uf all sums �ecured by this Security Instrument. Lender shal) prompdy refund to Borrower any � . , � `:' �.�+
<br /> - - ; Funds held by l.ender. If,under pardgraph 21.Lender+hall acquire or sell the Property.Lender,prior ta the acquisition or sale �.�,
<br /> ' ; - of the Property,shall apply any Funds held by Lender at the time of acquisition or sale as a credit aaain�t the sums secured by . , •
<br /> �� • this Security Instrument. • � ��
<br /> << .t . . . . .
<br /> _ . . 3.Appliration of Payments.Unless applicable law provides od�envise.all paymenu received by Lender under paragraphs
<br /> '; • 1 and? tihall be applied:first. to any prepayment charges due under the Note:second,to amounts payable under paragraph 2: � ` •< ' :`
<br /> �' [hirJ,to interest dae:fourth,to principal due:and last,to any late charges due under the Note. .. ., . • • ,
<br /> ��. ` ; 4.Charges; Llens.Borrower shall pay all taxes.assessments,charges, ftnes and impositions attributable to the Propetty . .
<br /> � � which may attain priority over this Sec:uriry Instrument, and IeasehoId paymenu or�round rents. if any. Borrower shall pay _ .c .;;r:'�`s`
<br /> f`' ,
<br /> t;: • • [hese obligations in the manner provided in paragraph 2,or if not paid in that manner,Borrower shafl pay them on ume direcdy • .'��:e;
<br /> ��' . '� to the person owc�payment. Borrower shall prompity furnish to Lender a!I nodces of amounts to be pacd under this pardgraph. , �
<br /> ~�� � � If Borrower makes thesc payment�s directly,Bonower shall promptly fumish to Ixnder receipts evidencing the paymen[s. , ••�.
<br />:':�; , Borrower shall promptly discharge any lien which ha5 prioniy over thi�Security lnstrument unless Bonower:(a)agrees in - . ,;.;:�.-
<br /> `.i� writing to the payment c�f the obligation aecured by the lien in a manner accepteble to Lendr_r.Ib)contests in good laith the lien �
<br /> ';�.:
<br /> by, or defends against enforcemen[ of the lien in. legal pmcee�iings which in the Lender s apinion operate to prevent the ':��;�...' -��:E::•-
<br /> t� • ' - enForcement uf the lien:or(c)xecures from the holder of the lien an agreement satisfactory to l..ender subordinating the lien to �•?----��-�:��'-
<br /> +�< thiti Sxurity Instrument. If Len der determines t hat any par[o F t he P rap e rty is su bjec t w a li e n w h i c h m a y a t t a i n p no r i ty over ,`�;�:�x'.
<br /> !` ,. r �a` this Security Imtrument. Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take une or •. �i._
<br />.;b'• . , more of the actiom tiet forth above within 10 days of the giving of notice. � q�-'�� '
<br />--"�� --- '. . � 5. Hayard or Pro peri y Inwrauce. Borrower shal! keep the improvementa now existing or hereafter erected on the
<br /> 1.::.-'='�'':
<br /> ;:� . � ' � Property imured against losti by fire. bazdrds included within the term "extended coverage" an d any ot her hazar ds. inc lu ding _ � F 1; >r:;-
<br /> • , tlocxls or flooding, for which Lender rrquir�w insurance. This iasurance shalt be maintained in the amounts and for the periads ' •, a•�i7-�
<br /> � � that Lender rcquirec.The insuranc�r:irrier prociding the insurance sh�ll be chosen by Bon•ower subject to Lender's appro�•al .-;:�,.
<br /> � � tivhich +hal! not be unreasonably withheld. if Borrower fail�to maintain cuverage described aho�•e. Lc.•nder may. at L.ender's �G;;;-;�
<br />;� ,� _ option.abtain coverage to protcxt Lender's rights in the Properiy in accordance with paragraph 7. � � ��"
<br /> _ • ;`r .... .•
<br /> � • � � All insuranre policies and renewal� shall be acceptable tu LenJer and shall include a standard mortgage clau,e. Lender ; ;?�'?•
<br /> tihall haee the right to hold the policieti and renewals. If Lender rcquireti,Borrawer shall promptly give to Lender all receipts of �" ''`-
<br /> �•, • paid premium+and renewal nrnice,.!n thc evcnt uf'li�++.Borro����r shall give pn+mpt notice to thc in,urance carrier and Lender. � ,:"�_:
<br /> . l.ender may make pmof af lo.rs if nat made prompAy by Be+rrower.
<br /> `;f:_
<br /> � . Unless Lender and Borrower otherwise agree in writing. inrurance pmceui+�hall be applied to restoration or mpair af the ,. _.
<br /> PrnpeRy damaged,if the re�toratinn or repair�s ect�numic:illy fea,ibie and Lender's security i.nvt lessenecl. [f the r�torstion or � • •. '.'���..•
<br /> � repair i�nut eeonomically feasibte or l.ender',,ecurity would be lessened. [he in�urance proceeds shall be appliecl to the sums �:`;L
<br /> � secured by this Security In,trument. whether or nat then due. with any exce5�p�id to Borrc�wer_ If Borruwer abandons the ;,,i�,:
<br /> L. �i Property.or does not anuver within 30 day.s notice from L�:nJer that the inwrance wrrier ha,affere4l w�ettle a claim, then _
<br /> " ;, I,cnder may collect the inwrance pruceeJ�. Ixnder may use the pruceed� to repair ur re+rore the Praperty or to pay sums ���.Y
<br /> .,; i � aecured by this Sewrity Instrumen[,whether or not thcn du�.The 30-day period will begin when[he ni�tice�s given. , • � %�,;
<br /> � Uniess Lender and Borrower otherwi.e ugree in w riting. any application af praceeJs to principal tihall not extend ar . _ ��*•_-
<br /> � � ' { po�tpone ihe due da[e of the manthly paymcne, referrcJ to in paragraphr i and 2 e�r change the amount af die payments. lf �•.. -
<br /> � ] under paragraph 21 the Property iy acywred by Lender. Barrower'.r nght to any imurance pnlicieti and proceeds retiulting from . •. �_ ._
<br /> � Jamage w tlie Property prior to the acyuitiition shall pa�+tn Lender to the extent of the�um,+ecureJ by thiti 5ecurity Imtrument "��: "
<br /> ". '� immediately prior to the acquisition. � . .
<br /> ' 6.Occupancy,Preser�'ation. 1�Iaintenance and Protection oP the Property;Borrower's I.oan ApplIcatton;Leaseholds. , . . .
<br /> � ' �� Bnrrower tihaU�x:cupy.e.wblish,and u�e the Propeny ati Borruwer'�prin�ipal re.ridenre within tiixty dayy after the executiun of _ ,
<br /> '��.��" . ' ; this Security Instrument and tihall continue to�ucupy thc Pruperty as Borrowcr'�prin�ipal residcncc for at (east one ye�r after .. . •
<br /> • the date of occupancy. unle��lxnder utherwi,c agr�e+in wnting, which comem+hall nut he unrea�onahly withheld. ur unlesti ,,
<br /> � extenuating circum�tance� exi�t which are beyund Burmw�r's control. Bonower tihall not destri�y, damage or impair the � .
<br /> .. : ' propeny. aUuw thc Pruperty to detcriuratc. ur comm�t watitc �+n the Property. Burr��wcr shall he in default if any (c�rfeiture ,
<br /> . action��r pmrecding, whether civil ar rriminal. iti hegun that in I.ender'ti go�x! lauh juJgment could re,ult in iorteiwre of the _
<br /> � Property or othcrwi�c matcrially impair thc lien crcatcd hy�hi,Sccurit}•In�trumcnt ar l.�ndcr'.r ti�urity intcrc,t. Barrowcr may
<br /> cure.urh a Jefault aii� rcirnlate.z�ti prmided in paragraph 18. by r.�u,ing the artic�n ur pruceedinc tu he di�miti�ed witli a ruling � .
<br /> . , that. m lAnder'� gu��d (aith determinatiun. prcrludr.r f��r(�iturc ut the }3orruwcr', intcre.t in thc Pruprrty ur uther material '
<br /> ' 1 impairment uf thc lirn crcatrJ hy th�ti Sccurity Imtrument ur Lender', security intenwt. Ri»•ruwer .h.dl .�Itiu he in dcfault if
<br /> • Aorrmvcr. Juring thc Ioan applicutinn prncc...gaer m.arrially iahc ur inurcuratc ndi�rmation ur,tatc��:cnt�tu t.cndcr(ur failcd •
<br /> � _ • t�,pru�•iJr l.rnJor�ti•itl��ury ntalcrial iMiumatiun)in connrctiun�vith the Ic�an evidcnrcJ by thr N+�tr. inrluding.but nut IimiteJ �
<br /> �..,,� to. rcprc,rntatiun,a,nccrnmg ti�n�rowcr'.uaupancy ai thc Yn�{xrty a.a principal rc.idencc. II tlu,Sccuriry In,truuirut iti un a , .
<br /> Iea�ehuld. Borrnuer �hall rumply with aU Uu provi��urn nf th� Icau. II' Hurruwrr :uyuur, lec uUc tu the Properry. the • .
<br /> � Iea�chald and the Ice tide�hall uut mcr��unlc+ti l.cnder agrce�t��thc merger in u•riun�_• ' �
<br /> , � 7.Protection of IArtder'�Ki�;hts in the E'rnpert}�. If&�rrnwcr failti t�,prrfurm tlu cu��enant�anJ agrcemcnt,cuntained in .
<br /> � � thiti Sccuriry Intitrumrnl.�,r Urerc i�a k�:al prucc�Jing that ma} �i�niticantly affcct Lci�drr'. right�. in th� Pruperty �,uch ati a ' •
<br /> 1 prncreding in hankruptcy. pr�,hate. tor cundrmnatiun or forkiture��r tu enforce la«�or regulation,�. thrn IwnJer may du und •. .
<br /> pay tur�vhatcvrr i, itccc.,an• tu prntert thr v;dur�d'Ihe Prupcny and IxnJcr'�rirht� in thc Pruperty. tAndcr'ti acti„m niay
<br /> . . � includc paying any .uinr xcurcJ by a licn �vhirh hati priunty �,�•cr thiti Sccurity lu�trument. appcatin�, in cuurt. paying . •.
<br /> , i rca���nahlc attarnc}�ti' Irc�:�ud entrring�m the I'mprny t��ntake rrpair.. :1lthuu�:h Lcnder may takc a4liuu under thi.�aragraph
<br /> 7. I.cndcr d��rti n��I havc Iu�lu,u.
<br /> .• .�. " � An)' .�muunts di�hur��J b} Iw•ndcr undcr thi+ p:�ragr�pli 7 tih:fll hCCt�n7C ad�itton�il il�hl ul H�+rr��wrr .rrurcd hy this �
<br /> ' � Sccutity IntilruttnnL Unlc�� Hnrrrn�rr and Lrndcr a�rrc ���„�n« �,•r�,,.„i�aymrnt. Ihr�c amuunn ,hall hrar intcrc�t trom thr .
<br /> ' Jatr ul ditihur�r�nrnt .0 ih: tiutr ratr anil .hall h� payahlr. ��uli mlrrr,l. up�m nnurr trum Lcndcr lo Fiurn�urr rcyur,ting � .
<br /> � ! pa}n�rut. . � • '
<br /> i 8. �tor:�ay;r Insurancc. II L��n�lrr rryuuril ninnLa�:r�n.urancr a.a cunJitiun�,I mal�mg thr Inan uwrcd h� Ihi,tic�ur�ty
<br /> � lu,t�uiucnt. I�urr„��rr ,hall �a} Ihr prennum, rryu�red tn ntainGUn thr m��r.Lagc in•uranrr �n rltrrt. II, tur anv rco�un. thr � .
<br /> ' • mnrl�arr m.urancc irnrrazc rc��uircd h} I.�nJrr lap•r,„r rra.r.t�� hr in cllect. liiirrrntirr.hall pay Ihr�rrmium,rci�uirrd In
<br /> '° • � �,Mtiun a,vrr.�Lr .uh�t.mu:ilh �qunalrul tn Ihr in�•rI_aLe in,uranrr prc�i��u�ly m rlfcc�. at ,i r�e,t .uh,tanh:ilh r��u���cdcnl tn Ih� ( .
<br /> s.• �' <<,�I tn $��rn��crr nt th. nmrt,:r_r m,uranrr prr�inu•h m clicci. Ir�nn :in altcrnalr nu�rtL�irc nnurrr .ipprrnrd h�• L�ndcr II � .
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