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<br /> •B0�3ROWER COVBNANTS that Borr�wer is lawii�ily seised of the estate hercby convey�and has ths ri8ht to �
<br /> , r�� ' granc und oanvey the Pmperty rvtd that the Pcoperty �s unencwnbered. except for encwnbrances af recard. �a�'c�wer
<br /> warrunts end w1U defend generaliy the title to the Property egainst all claims and demanda.sub,�act ta any eaaurabrnuces [�;
<br /> ` ' of record. �
<br /> ,. :;�� THIS SHCUR1Tl' 1NST`RUM�NT combines untfamn covennnts for aattonal use and non-unifartn caeanants �vttb ���
<br /> � .�;. liinitod variations by Jurisdtcdon to constitute a uniform security instn�ment cwver�tll � p�rly. `
<br /> �• E�.:_
<br />`,��� UNIFORM COYBNANTS. Bocrower and I.ender covenaat aud ageee as follows: F--
<br /> 1. of p�� �� �� (�u�e, �rtower shall pay when due the prlc�eipal af,and interest i:
<br /> � r`�
<br /> on.the debt evidenced by the Note aad late charges due under�e��wer shall lualu�de i,�.each�nJ1it,Y PaY�t�
<br />---- .�.� 2. Momhly Paym�t otlbtcea�pnmumoe. aad Other C6u8
<br /> ` ;- � togetber with the prlacipal and,iutsrest es set forth in the Note and any late chargea. a suux for(a?taxes►nud specIal -
<br /> �.. assessm��nts levled or to be l�.wled against tt�e Property. (b)leasehotd payments or.groun�r�nrs an,tb� �Y� and
<br /> . .+� (c) prenaiums for insurnaaoe recluired uader paragraph 4. In any year in which ths Le�►d� rnust pay a p�ortgage
<br /> insurence premium to the Secretary of Honsing and Urban Development ("SecretarY").ac ia any Yt�i�,vfbich such
<br />. � premium would have been required if Lender stiU held the Seturit3+ Insaumeat, each mamtbly Aaym� sb� also
<br /> Iaclude either: (i)a sum for the annual mortgage iasuranca ptemium to be gaid by Leader w tbQ 5ece�taxy►:pA��a
<br />_ monthly charge instead of a abortgage insurance premiup3 i�this Secutlty Insuument is held by tQ� $�t�Y► �►a
<br /> reasoasble amount to be deiemained by the SocretnrY• BxcePt for ths munthly charge by the S�yv th�se it�ms
<br />._-.`;;��,�: are called "Escro�v Ioams" and We su�ns paid m Lender see cailed 'Esaroxv f�`�nds." �_
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<br />.....,:',• Lxnder may.at any time� wllect aad hold axnouuts for Bscrow Itsrpa in.an a�gregate amuunt nRt�.t+�exceed the
<br /> ; ,, , maximum amount that may be zeQuired for Borrower's escrow ascanat under tlua &¢al,:F•stata 3� Procedures
<br />_ .��;.;: Act of 1974.IZ U.S.C.�2601�sea.and implemeating regulations. ?A CFR Part 35QfD.es they rnay be ameadod fmm
<br /> z�...�;:�;.
<br /> :.,� �„ time to dme t"RBSPA").eacePt that the cusl�ion or reserve permittod by R&SPA fur..vrla�z:stlpatm� dis wsetaents or
<br />°�,w'� disbursemeats before the Aocrower's payments are availa6le in the account may aot be t��d on,�r.AUnts due for tb.e
<br /> " mortgage insurance premium.
<br />'=�Y�`. If the amounts held by L�eader for Escrow Itezas eacce�the amounts Pe�miaed to ba hetd by RBSPA. Ixader shail
<br /> �'-�;<?.; a000unt to Borrower for the excess funds as required by RFSRA. If the amouats of f�uus+ held by Ixnder at any time
<br />";,,;�;;:;: Borroaer w make
<br /> _�F°`,:"' are not sufficient to pay the Escrow Items whea due,Leader may notify the Borrower and require
<br /> °�-'� . up the shortage as pemoitted by RESPA.
<br /> `°==v`;•�` The Escruw rwa4s ace piedg�d�s�f3iuc,asi srarr[ty fa:sll ss�s s�?�-1 hythis Secvrity lnsaum�t. If Borruwer ::
<br /> �n"�',;;f tenders W Y.ender tlte full payment of ell such sum9.Bortower's acxount st►a11,be credited.wlth th�balaace remainin8
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<br /> _--=t.',:?� for all installmr.at item�(a),(b).and(c)and any mortgage insuranr,e premium 1nsWament tt�att ixnder has aot becoatie
<br /> __Nl,�.;::c., obligated to pay co the Secreta�!, �LEader shaU PmmPt1Y ref�ad aay exce.4s fiutda•to 8orc�Qwer. Immediately prior
<br /> —.v��'li�:; ' .
<br /> =—= to a forcclosure sale of the Propei�y or its acqnisidon by Lender�Borrower's acoannt s�aU bs��re�ited.with any balanoe
<br /> --_-— ' remainiag for all installm�emts ,for items(a),(bA.and(c).
<br />- �-`-�°� 3., Appli�t�oa oi Payat�Ys. AU payments under paragraphs 1 and 2 shall be applte� by Y�ndex.as follows:
<br /> . FIItb" . to the mortgage i�ct�rence Premium co be paid by Lender w the 5ecretarY or to the mt�il�ly charge by the
<br /> `-:;;'�i�� �r�acy instead of the r�wnthly mortgage insurnnce [uemium: �
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<br /> ______-- S�COND� tq any taxes�speaial assessments. leasehold payments or grouAd rents, and fire,flnod aad other
<br /> insuranrx ptemiunis. as r«Niced� '
<br /> p� to iaterest due under the.Nou; • • • •
<br /> - �II T , to amort�Zatlon �of the priaciPai of ci�e Note; sat
<br /> __':`',�� ;FI , w late cbarges due under the Note.
<br /> -•� qy� g'ue„g(ood and OtLa H�xud Inaora�oe. Borrower ehaU iusure aU impmveraepts �on�he.Property.whethcr
<br /> , ' ncm+;in eaisteace or subse9ueatly erected. aBalas� enY hazerds.aesualtte.c. and continge»cies, including 6re,for which
<br /> — — I:ender re4uires iasuraace• 'f6is insw�nce sball be maiatained ia the amounts aad for the .�erinds that Le,nder
<br /> Y_' requlres. Borroarer shaU also insure all improvements on the Prog�eny. whetlter now �tt�exlstence or subseqwendy
<br /> Y`� et+eotr�t� a8ainst loss by floods to the extent tequired by fhe SecretarY. AU insuran�oe .shalt be catrled with compttnies
<br /> p'���
<br /> --- ePPmved by Lxnder. The inswaace policies and any renewaIs sh�ll ba held by Lender and shall Include loss pa�iable . .
<br /> clausea in favor of,and Iu a form accePtable to,Lender.
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<br /> -- �the eveat of loss,Bomower shalt give I.euder immodiate nodce by n�sil• 1xi►der may make proof of losa if aot
<br /> - -- made prom�ptlY bY Borrower. Eacb ins�ua¢ce wmpaay coacerned ie haeby author�Zed and dirocted of the ins�+uaucc
<br /> .� far such loss dicecdy w Lender. instead of to Borrower and to Lender jointly. All or anY P�
<br /> - -- -- pra�eda maY be aPPUed by Leader. at its option. either(a)to the reductioa of thc indebtedn d�W e Nate and
<br />_�`y-�"--�;� this Secarity Instnunenb Srst to any deliaquent amounts epplled in the oider in paragrap P�P Y�
<br /> -.,K.�'°:`�,.�� An llcation 4f the� raxeds to the
<br /> :.�.;�..� . of principal. or(6) w the restoratioa oz z+epair of the damaged ProPertY• Y aPP p h 2,or
<br />-=;;'�.'.,:.� priacipal shaU not extend or postpoae the due date of the montlily payanents witicb aze iefecre�t to in paragtap
<br /> ���
<br />'s_�`eC..�s..-- chaage the amouns of such payments. Any excess insuraace praceeds ove,r an amoimt required to pay all outstanding
<br />-=�-��.+��t°� iadebtedness under the Note aad this Secudty Insuuarent shall be paid to the �tlty iegaDly e�ntitlod thereto.
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<br />`;�.���° In the event of foreclosure of this Secarity Insn�iment or other uu+msfer of tide to the Pio�aay tbat exdnguishes
<br /> -_:- r:��;--:
<br /> ' • the indebiedness. sll dght� tide aad interest of Borrower ia aad w insurartce polides in tbroe shall pasa to
<br /> �`'r;ti;;�• � �� M� a�d gmtec�on of tLe Ropaty: Boaawer's Losm Applic�tioA: -
<br /> -,-- �' ' �L�:.L e...t..co rtw pnnnertv aS BOtYOWGT'3 DIIIIL'�D31 IC81�lCD�C W��tbID 8I7ILy�3Jl8
<br /> =-s:-J���ry LCi7lll0IQ.7. tfOitowcr an5u vwaY�.w.a...�., ..._.�-- ---� • -
<br /> .,�-�.: ,:., �-. after the eaecution of this Security Instrument (ar w�thin sixtydays of a Iater sale or uansfer of the Property) and shail
<br /> - ' T ooatinue w xcupy the Ptoperty as Bomower's prlacIpal resideace for at least oae yeat aRer the da�e of a:cupaucy►. _
<br /> `�.� ,�� unless Lender determinea tbat requiremeat will cause undue hardsf�ip for Borrower� or unless e�xteuundng
<br /> '`. .�° . �:
<br /> � ,. ci�uarataaces exist which are beyond Borcawer's coatrof. Borrower shall aatify Lender of any exteauatin8
<br /> ' � 6196
<br />- N�RI►41cA-FNA D�D OP 7itttSP page 2 of 6
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