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<br /> ' ' � TOOETHER WITH all the Improverttents now or here�fter erected on the property, end ell easements, appurtenences, and �{�E`
<br /> F�ar:r
<br /> fuAures now or herearier e part of the property.All roplacemente�nd�ddittons shell also be covered by thls Securlty Instrument. i.::
<br /> M uf ihe}oreyoing Is reterred to In ihls Secu�ity Inatrument as the 'Property.' ' �"�'±4�°
<br /> BORROWER COVENANTS Ihut Dorrowor Is lawhdly eelz�fd of Ihe esinte hereby conveyed und hes the dpht lo grent end
<br /> I convey the Property end lhet lho PropMy Is unencumbe�rod, e■r,ept lor encurnbrances ol record. Borrower v�arrenta and wfll �
<br /> � delend generalty the titie to the Praperty eg�inst all calm�end dcn�anda. cub�ect lo any encumbrancos o1 record.
<br /> � THIS SECURITY INSTRUMENT combinea unllorm cove��Antt� lor national uae end nan•uniform covenents with Iimited� • ,
<br /> radatlons by�urladiction to constitute e unllarm eeeurlty Inatrumont covaln(�re�l property. � p
<br /> i UNIFORM COVENANTB. Bor.ower end Lender cavenant end egree as loliows:
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<br /> t. Paym�nt of Principel tnd Int�nst; Pr�paym�nt�nd Lat�Chargos. Borrower shall promptly pay when ,
<br /> ' due the principnl ot end Interesl on ihP debl evldnnced by the+Nota and any prepayment end late chargus dua under the Noto. � �
<br /> � 2. Funds for Taxos �nd Ineuranoa. SuGJeC�lo appGcablo lavr or to e wrillen wawer by Londer, Borrowar shall pay � _.,.,
<br /> Io Lender on the day monthly paymcnin ara dun under the Nme, untd the Note Is pald In Iuii, a sum("Funde') (or: (a) yeadyr . -,�,�.
<br /> �, texes and aosessmenta whlch may ettAin prioriry ovor thls Securlfy Inatrummt es n Ilen on the Property; (b) yearty leasehold -
<br /> � , � pnyments or ground rents on ihe Property. if eny: (c) yeurly hez.�rd or property Insurence premlums:(d) yesrty flood incurence ,,:�^
<br /> premlums. It eny; (e) yearly moripaga InsuranGe premlums,II any: and(� anY sums payeble by Bortower to Lender In accordance �;�
<br /> with the provislons ot paragreph 6,In lieu o1 ihfl payment oi mort�lage Insurance premiums. These items are cnlled 'Es�ow w __
<br /> , Items.' Lender may. at any time, colleCt and hald Funds in an emount nat to exceed the maximum amount a Iender tpr a „�_=�°=�
<br /> ledo►ally related murtpage loan may requlre Tar Bortawer's escrow eccounl undei the lederol Real Estnto SottlomQnt Procedures � ____
<br /> Act of 1874 as amendod from time to time. 12 U.S.C.� 2601 et seq. ('RESPA"),unless another law that applles to the Funds �`�
<br /> sets a lesser amaunt. 11 so. Lender may. et any tUna. colleot and hold Funds In an amount not to exceed the lesser amount. _ ----
<br /> lender may estlmate the amount of Funds duo on Ihe basis ol curtent data and reasonehle estlmates of expend(tures of tuture � _�
<br /> Escrow Items or otherwlse in accard�nGe with eppNcable I+w. ""�"�'
<br /> The Funds shall be held In a� Inptitutlon whose deposlts ar�t ineured by a fede►al agenpy, Instrumantality, or entlty(including
<br /> lender, I1 Lender Is such en Inatltutbn) or in nny Federal Hame Loan Bank. Lender shati appty the Funds to pay tha Escrow _ _..-
<br /> Items. Lender may nat charge Bortower lor holding and applying the Funds,annuaily enalyxing the escrow account, or vedlying _—
<br /> � the Escrow Items, umass Lender pays Bortowe► Interest on the Funds end applicable law permits Lender to meke such a
<br /> � charge. However, Lender may requlre Borrower to pay a one�lime charge tor an lndependent real estate tax report(ng servlce ,•t-
<br /> used by Lender in connectlon with thls loan, unless epp4cahle law provides otherwise. Uniess an egreement Is made or �;�_
<br /> "+ app{;cable law requlres Interest to be pald, Lender shall nat 6n rpqulred to pay Bonower any Interest or eamtngs on the Funds. _
<br /> ' Borrower and Lender may agree in w►iting, however. thnt Intarest shall be pald on the Funds. Lende• shall give to 8orrower. -
<br /> without cherge, an annual accounting ot th� Funds. shawi�ig credtts and debita ro the Funds and the purpose tor which esch -
<br /> debit to the Funds was made. The Funds ara pisldged es addiilonnl security tor eil suma secured by the Security Instrument. �---
<br /> I(the Funds held by Lender exceed the� amaunta permitted to be held by applicable Iaw. Lender shaM account to BoROwer � ,�..
<br />- �• tor the excesa Funds In accordanoe with ihe requlrements of applicable law. Ii the amount af the Funds held by Lender at any f �-
<br /> Ume is not sui�dent to pay the Escrow Itema when due.Lender may so notiTy Borrower in writing, and, In such cese Bonower -__
<br /> " �� shall pay to Lender the amount necessary to make up the deficlency. Bortower shell make up thQ deficiency in no more than i'.,
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<br /> i� -� hveNe monthly payments,at Lende►'s sole disaetion.
<br /> Upon paym�.nt in full of aq sums secured by Ihfs Security Inatrument, Lender shall promptly refund to BoROwer any Funds
<br /> __-_---_ -- oeid oy L�+�uei. If, undar paragrap��..Lcsad� shs!! scyuf!e er s?!t�ha PropAny. Lender. orior to the acqufsillon or sale of the
<br /> �' Roperty, shell epply any Funda held by Lender et ihe time of acqulsitlan or sale as a cradit agalnst tko sums socured hy thls �_
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<br /> � Security Instrument.
<br /> " '�.����' 3. AppllCatlOn of P�ym�nt�. Unless eppliceble law provides otherwise, all paymants recelved by Lender undor
<br /> " ' pa►agraphs t and 2 shall be epplied: first, to any prepayment chargos due u�der the Note; second,to amounta payable under
<br /> paragraph 2;third,to Interest due; fourth,ta poncipal duo;and last,to any lat�chqrgna due under the Note.
<br /> __ 4. Cha�ges; Lielts. Bortower shall pay all taxes, assessments, chergos, fines and Impositions attributable to the
<br /> "' " � Property which may attain prlodry over thls Security Instrument, and leasehold pnyments or ground rents. If any. Dorrower shell
<br />#�'.'"��•,'�,,; pay these obligations in the manner provlded In peragraph 2, or if not pald In that mannar, 8orrower shall pay them on time
<br />-' >`•= directly to the person owed payment. Borcower shall promptty furnish to Lendur all notices of amounts to be paid under this
<br />�F• .�� °= paragreph. If Borrower makes these payments directly. Borrower shall promptly tumish to Lender recelpts evidencing the
<br />`•" payments.
<br />-� +�~. Bortower shall prompUy discharge eny Ilen which has priodty over thls Security Instrument unless Borrower. (a) egrees In
<br /> i�?-"_�;�.�.,� writing to the payment ot the obllgatlon securad by tho Ilen In a manner acceptable to Lender, (b)contests In good taith the
<br />---.,-`'�: Gen by, or defends agalnat enforcement of the Ilen in, legai proaoedinge which In the Lenders opinlon operate to prevent the
<br /> �*^ • enforcement of the Iien; or (c)securea hom the holder of tha Iten an �►greement satislactory to Lender subordinating the Oen to
<br /> '��r°••••�� this Securlty Instrument. If Lender determines thst any pert of the Proporty Is subJect to e Ilen whioh may attein priorlty over this
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<br /> " ••:; Secudty Instrument, Lender may give Bortower a notico Identilying the lien.Bortower shell satisfy the Ilen or take one or more of
<br />;.3'!'.,4- the nctions set foRh above within 10 days of the gNing of notice.
<br />--' `1`����' 6. Hazerd or Property Insurancs. Borrower shnii keep the Improvements now existing or hereafter erected on the
<br />�,M=�'A'"' Property Insured agalnst loss by ilre, hezarda Includod withln the tertn 'extendQd coverage' and any other hazards. Including
<br /> '-�' � � Aoods or tlooding.1or which Lender requlres Insurenco. This Insurance shali be mafntafned in lhe amounts and tor the pedods -
<br />_ "� :A� that Lender requlrea. Tho insurunce cartier provlding the Insurance shali be chosen by Bortower subJect to Lender's approvni
<br />'"4=���•''� which shall not be unreasonably withheld. If Borrower falls to malntaln coverage described above, Lender may, at Lender's
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<br />—,"�.• option, obtaln coveregu to proteat Lender s rlghts In the Property In eccordance wlth paragrap .
<br /> =���.•� :^•, All insurance policies end renewals shatl be acceptable to Lender end shalt include a standard mortgage clause. Lender
<br />';`�;"�,�'.�`�°'_; shall have the dght to hold the poucies end renewals. It Lender requires,Bortower shell promptly gNe to Lender all recelpts ot
<br />�=`"'�.°K"•.:. pafd premlums and renewai notices. In the event ot loss, 8ortower shall gfve prompt notice to the Insurence caRier and Lender.
<br /> ' �� . •'' � Lender may make proof ot loss if not made promplty by Bonower.
<br /> Unless Lender and Borrower othenvise agree In wrfling, Insurance proceeds shall be epplied to restoraUon or repalr of the —_
<br />� • Property demagud, K the restoration or repalr Is econnmlcally feaslble and Lender's security Is not lessened. It thu restoratlon or ___.
<br />� repalr Is not economlcally teasible or Lendor's secuHty would be lessened,ihe Insurance proceeds shaU be Applied to the sums
<br />: secured by thls Security Insintment, whathor or not then due, with a�ny excess peld to Borcower. If Borrower abundons the
<br /> . Property. or doos not onswar wilhin 30 dvya a noqco irom Lender thot the i�surance carrier hsa oHered to settle a clalm, then __
<br /> � Lender may collect the Insurance proaeeds. Lendo� mey use the proceads to repelr or restore the Property or to pay sumo -
<br /> - secured by thls Security Inatrument,whother or not than due. The 30•day pe�iod will begln when the notice is glven.
<br /> Unless Lender and Borrower othonviso agrao in wrlting, nny application of proceeds to principal shall not exlend or
<br /> ; pos►pone the dua date of the monthty paymento reterted to In paregraphs 1 end 2 or change the amount of the payments. If �
<br /> - undor paragreph 21 the Property Is acqulred by Lendor, Borrower's right to eny inaurence policles end proceeds resufting hom :
<br /> - .`.. - damago to the Property prtor to the ecqulsitlon shali pusa to Lnndor to the extent of tho sums by this Security lnstrumont
<br /> immodlately prior to the acquisltion.
<br /> _ _ _ '� '. . ' _"� w_'�'_�1_� �l �4� 0��...�i..� Owrrw���wr�w 1 w�w ---' .
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<br /> - 6. occupaflCy, Mreaervarc�on� Mwinta�ance MtIN rrvtvcarvu v� a�o r.vpo�•�� .+v....00. o ...... - -.
<br /> Application; Leassholds. 8orrower shell occupy,establish, and use the Property as Bortowers principai resldence withln
<br /> sfxty days after the executlon oi lhis Security Instrument and shull continue to occupy the Property as Borrower's principal � �
<br /> residence for et least one year qtter the date of o�cupancy, unloss Lender otherwise egrees in writing, which consent shall not
<br /> be unreasonably withheid. or unless extenuating circumstances exlst which are beyond Borrower's cantrol. Borrower shali not
<br /> ' dostroy, damage or impalr tho Property,allow the Property to deterlorate, or commit waste on the Property. Borrower shall be in
<br /> delault II eny forfeiture aclion or proceeding, whelher cNfl or cHminel, is begun ihat in Lender's good talth judgment could result
<br /> � in lorfelture o1 tho Property or othenviso materially Impalr tho lien created by this Security In�trument or Lender's security Interest.
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