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<br /> � TOQETHER 1NRH a!1 the improvements now or hereafter erected nn the property. and all easements. aPPurtenances, and .. .
<br /> . fudures rtow or hereafter a paR o1 the property.i1U replacemants a�d addtions shaD also be covered by ih�s Securiry Insirtunerrt. � `,��
<br /> .. : AO oi the icregoi�g is referred to m this Security Ins�umQnt as the'ProPertY•� � _ ..
<br /> ' , BORROWER GOVENANTS that 8crrower fs�awtut�y se¢ed o1 ihe estate hereby conveyed and has the �ight to grant and � • , .
<br /> = convey the Property and tAat the Property is weneumbered, except for encumbraeess of record. Borrower warrants and wiU `
<br /> detend generalty the tifte to ihe ProPerty against aii claims and demands.wbject to any encumbrances of recard. ` , , _
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<br /> � 7HIS SECURtN II�{STAUMEN'f combines un'stonn covenants for national use and non-unitorm covenants with IUmtc� � ;- `�
<br /> - 3 �a�ations by jurisdetion to constiNte a unitorm security instntme�t coverina real PraPeM• - -- .-----_
<br /> 7 UNIFORM CaYENANTS- Borrower and Lender covenant and agree as foUows: ! C--'--; ;
<br /> -- - i 1. Payment of Prtncipal and IMeres-� PrepaymeM and i.ate Charg�s.Borrowe�shan prompuy pay wh� ; , . �
<br />. " � � due the prinapa)ot and'urterest on the deDt evidenc�d by the Noie and any prepayment and late charges due under the Note. � ,
<br /> Z. �unds tor Taxes and Insuranee.Subject to applicable taw ar to a writfen waiver by Lender.Botrower shaU pay ' . . �
<br /> � - + to Lender on the day monthly payments are due under the Note. unti the Note is paid in N0, a sum('Fueds')for. (a)yeady ;:. . < <i`..�� .
<br /> _ � � �t taxes and assessrnents which may attain priarily over this Securily Instrumem as a lien on the ProPerty: (b) YeariY leasehold ;,_� -.��,F°:s� �'
<br /> - } PaYments or gro��fr�ts on the Properly. ff any: (e) YeartY h�'d ar�rc-.�'�i insurance Premiums: (dy YeartY flood 'msurance } c�v`}s� E
<br /> cttti} q.s
<br /> ...; � � P����r.�����'nortgage insurance premiums.'rf any:and(tJ�;•s:r.:v oaYabte by Bortowe�to L�rder in accordance �' � ,:., ,v ���:�:��;
<br /> ` �. �i h 8. in Geu of ffie paym�t ot mortgage i-ra����iurtis. These iter�3.-^e called 'Escrow 1; +; �'�,���..r•
<br /> �tj,,, wtth��7sia�.�at 1�^.,.�
<br /> t� •r Iterns.' :....�+a��*._f-•���- �� �Q� �d hold Funds in an amouM c�t�.tn exceed the ma�mnum a.�ount a lend�for a "�°�� '����,,;�<
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<br /> ,s sr.Zr f ,- }��Qy ��m?�ica-� c-ay ►equire for BorroweYs esaow accoaM under the tedetal Real Estate Sdilement Procedures ' _
<br /> - '=`•1''"° . ..` Ad of 1874 as a�.,..^y_'irom time to time. 12 U.S.C.�2601 et seq. ('RESPA'). unless anothe► iaw that appQes to tfie Funds
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<br /> _- � sets a lesser amcu�st_ it so. Lender may.at any t6ne. coltect and hold Funds in an amoFmt not to acceed the less�amoun� , .;�., ' :
<br />- - • Lender may estitriate the amourrt ot Funds�e on the 6asis of current data and rPasonable estimates of expendtures of fuhire ,
<br /> i ` Escrow items or otisernise in accordance with appGcabte Iaw. , . -
<br /> � � The Funds shall be held in an institution whose deposits ere ir�sured by a tederal agency.ins�trumentaGty. or entity(induding �
<br /> - t Lender. iT Lender is sueh an instilution)or in eny Federal Home Loan Bank. Lender shall appy the Funds to pay the Esa'ow • ` `"
<br /> ' � Items. Lender may not charge 8ortower tor holdsng and apgtyting the Funds.annually anatybng the esaaw aceoun� or veritying • � ,`
<br /> ,; =` � the Escraw Items. untess Lender pays Borrower interest on the Funds end applicabte law permits Lander to make sucA a �,f�`..: .
<br /> �► .� eharge. However. Leruler may require Borrower ta pay e onellma charge tor an mdepertdent real estate tax reporUng serv�ce � �
<br /> �� used by lender in connedlon rrith thls Ioan, uoless appticebta taw prondes othe�w�se Unless an agreement �s made or :,:
<br /> ' • appficable!aw reqwres interest to be pald. LenQer shall not be requhed to pay 8orrower any fnterest or eammg�on 1he Funds.
<br /> ,r Bartower and LenQer may agr�ee�n wriUng. Aowever, that mterest shaU be paid on the Fund3. Lender shall qive to Botrower, .�� `,
<br /> • t w+thout charge, an annual aceounUng et Ihe funQs, shov�g aedrts and debfts to the Funds and tha purpose for whieh each , . :.::a-.��
<br /> % Qe�A to the Punds was made. 1'he Funda are pledged as additional security tor aIl sums secured by the Security Instrument. �—. ,- �' •� •
<br /> ' It the furtds hetd by Lender exceed the amounts pertnitted to be held by applicabte taw.Lender sha0 eccount to 8orrower �.
<br /> (: lor the excess Funds In aecordance wtth the requirements of applicabte law. H tfie amount o1 the Funda hetd by Lender at any '��: :;_t
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<br /> time(s not suffident to pay the Escraw Rems when due, Lender may so notity BoROwer in w�iUng. and. m such cese 8orrower f ..�-;.
<br /> • ! sha0 pay to Lender the amount necessery to matce up the defiaency. Botrower sha0 make up the de6aency in no more tfian v�'� `
<br /> tweMe moMhly payments.at Lende►'s sote disaetion. `' �� `
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<br /> ,'; � Upon payme.nt in tuA ot all sums secured Dy this Security Instrumer►t. Lender shalt prompty refund to BoROwer any Funds . ,
<br /> - :� ! helA by Lendec fl,under para�aph 21.Lender shall acquire or s�the Properiy.Lender, pdor to the acqulsition or sale ot the •� i � ' ::;
<br /> •� ` Property, sha(F appty any Funds held by L.ender at the tine o1 aequisiUon or sats as a eredR against the sums secured by thfs :� -:,.i�•
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<br /> :>:: �;',,}� , Searily Instrument `
<br /> ��. � 1 3. AppliC3tlOn Of P�c110ntS. Unless app6cable law provides atherwise, all payments ►ecetved by Lende► under • � `���
<br /> % paracpaphs t and 2 shall be 3p�.�zd: fust. te anY D�DaYment charges due c^der the Note;second,to amourits payabte under `
<br /> � paragraph�th�d.to interest�:e;tourth,to pdnclpal due;and last.to arry late charges due un der t he No te. ' � � ��� �'
<br /> "�: � 4. Ch3�es; L.i008. Bo►rower shall pay all taxes. assessm�ts, charges. fines end Impositions atbibu0able to the : "�.it;
<br /> .'?� Property which�y attain prioriry over thls Security Instrument,end leasehcfd paymenta or�ound rents.if any. Bor►ower shall � •, • ��`_;-'
<br /> `' , � �:' pay these aDtic�ations in the rnanneF provlded In paragraph 2. or il not paid In that mannw. 8orrower shaU pay them on Ume "�:�'��°:
<br /> �y a�tre person owed payment. BoROwer shatl prorrtaUy tumish to Lender a0 notices of amounts to be patd under this :�,;�`t��'
<br /> ,S' fumish to Lender reeetpts evidencing the �•
<br /> , . Ra2�-�A'�. ff 2crtower makes these payments direcUy. Bcrrrxer shall prompUyr :-
<br />=:;`?..� � Pay.r.e�s• ',`.:•�,.'
<br /> �; ' Borrcwer s^3J �rompty dlscharge arry C�en which has prlority over thL: SecuTily Instrument uMess Borrower: (a)a�ees tn . �
<br /> ' t; I:� writing to the p�/�:t ot the obtlgatlon seeured by the lien in a mann��.r-.ceytable to Lender: (b)wntests in good taith the '= '-�"`
<br /> fien by. or defarCS against aN:rcement of the lien in, legal proceedings �xR-;� in the Lender's opinfon operate W preuent the _-
<br />" ��S ` eniorcemerri o1 the lien; or sc�� ��cures Bom the halder ot tfie lien an acyeer.:unt satisfactcrs to Lender su6ordinal(ng the Uen to �__
<br /> thb Securily Instrument lt L�cu determines that any part at the Property is su4jed to�Ga►whlch may attain pdotity over this :` '�'�'`• �V'
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<br /> '•.�. . - Securiry tnstrusr,� lender�.�/g(ve Barrowe�a noUce iderY�tying the tlen.8orrower shatl saUsty the Gen or teke one or more o! • :�_�
<br /> the acdons sEt f�h above withln 10 days of the glving ot noice. _
<br /> , 5. Hffi2c� er Property Insurance. Bortower sha7 keep the tmprovements now exlsttng or ha�eafter etected on the . . • - ^���=
<br /> `:�.,�' � .. Prcperty insured agalnst loss by flre. hazards Included withhr 'he term 'extended coverage' and anyr a::�cer hamrds. inctu�ng ;��.; �.
<br /> �:''•i � ` '�• f!;,aCs or tloodmg,for whlch Lender requires Insurance. Tht�r:�.�sance sha11 be malntalned in the amourtta end tor t}SE pedods ; �
<br /> ;:'��,: :.hsc Lender tequlres. The Insuranee cartler providing ihe�za:r^�ce shall be chosen by BoROwer subject to Lend�'s r�roval , , . .
<br /> u�I.-::n shaD r.ot @e unreasonabty w�hhetd. N Borrower tarts to matrrtain coverage deseribed above, 4ender may. si �.enders . __
<br />`. ;,.':. . ' ` �' o�9on, obta:�r �++�age to protect Lenders rtghts in the Property in accordance with para�aph 7. , ..
<br /> .�' ` :'., A11 insi:.:r�aa polides and renewals sha1 be acceptable to Lender end shall Include a standard mortgage clause. Lender .
<br /> . , � s`.all have t,`.e::g'�t to hotd tre policles and renewats. If Lender�equlres.Bortower shalt promptly give to Lender aD recelpts o1 , _ .
<br /> � . � • �;9 premiums and rertewal r.s�ces. In the euent ot toss. Bortower shatl gb�e prompt rtoUce to the insuwnce carrler and Lender.
<br /> - � :r�:2r may make proof of loss H not made prompUy by Borrower. �
<br /> t;nless Ler.Cer and Bortower oiherwlse agree in writing. tnsu►ence proceeds shall be applied to reatoratlon or repatr ot the . •
<br /> �� � PropeRy dazr.zg�.H the restoraUon or repair Is economically teasi4te and Lendeis securily is not lessened. If the restoratton or �. � .
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<br /> '.• , re�air!s not eeonomlcalty feas(ble or Lender's security wautd be lessened,the insurance proceeds shall be epplisd to the sums .
<br /> % seeured by thls Security Instrumen� whether or not then due. witb any excess paid to Bortowe►. H 8orrower abandons tfis ,
<br /> ��` ' Property, or does not answer wfthin 30 days a notice from Lender that the insurance carrler has oHered to setVe a cfalm.than � .
<br /> :� � � Lende► may coltect the insurance proceeds. Lender may use ihe proceeds to repalr or restore the PropeAy or to pay sums �
<br /> -,I�; � � secured by this Security InsUument, whether or not then due. The 30�day pedod will begln when the noUce is ghren. •
<br /> '"�,= � ' Untess tender and Borrower otherwlse agree in w�ting, any appUcaUon of proceeds to prNcipal shaU not extend or . •
<br /> postpone the due date of the monthty payments reterted to In paragrephs 1 and 2 or change the amount o1 the payments. I}
<br /> �'J�f • under paragraph 21 the Properly is aequired by lender, Bortower's Aght to any insurance poUdes and proceeds resulUng trom .
<br /> � '' � damage to the Property pdor to the acquisilion shall pass to Lende► to the extent af the sums by this Securlty InsUUment "
<br /> immemately prlor to the acquisiUon. . ' . .
<br /> - . � 6. Qccupancy, PreservaEion. Malntenance and Protection of the Proporty; Borrawer's Loan
<br /> -,',_-�: Applleatton; LeesehOld9.BoROwer shall occupy.establish. snd use the Property as Bonowers pdncipal residence wfthin .
<br /> = sixty days after the exeeuUon o1 this Security Insirument and shall conUnus to occupy the PropeRy as 8ortowei s princ+pal
<br /> ��;�_: resldence for at least one year etter the date of occupancy.unless lender otherwlse agrees in wriUng.whlch consent sha11 not
<br /> � �' be unreasonably withheld,or unless extenuating circumstances exlst wfiich are beyond Bortower's control. Bortower shall not
<br /> - � � destroy. damage or impalr the Rope►ty.allow the Property �c deteriorate, or commit waste on the Property. Bortower shall be in
<br />.�..;,_� default it any to�fefture ection cr proceeding, whether�:.�� �:,riminal.ts begun that in Lender's good faith Judgment wutd result
<br />-��,�: i�r'cr!eiti:re:�1-e Propeny ar crRerwise mWt�ity�impwr rne Sen created by this Secudty InsWment or Lenders security interest. .
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