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<br /> ,�� ORROWEIt COVBNANTS that Horrower is lawfWiy seised of tbe escetc hereby conr�yZ�d an�a�s� a r Tw -
<br /> .. � B
<br /> "` graat nnd canvey the Property and tdat the Property is naencumbered. except for encumbrances of record. Bonower .`�
<br /> � , wasaats and willdefend geaeralty the title co the Property against a11 clafms und demanda, eubject to any encumbrancea �.��_
<br /> � of record. �
<br /> ' THIS SECURITY INSTRUMI�NT wmbines uniform covtmnnte for nattonul use and non-uniform coveaanta with
<br />' '�� limitcd veriations by Jw�isdiction to constitute n uniform security instrument covering re�t property. -�� _
<br /> 6�'�. :
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<br /> ,.,,,,� UNIFORM COVENANTS. Bomower and Lender covenBQ�WQT shall�ua'when due the pdnctp�l of.and intereat __
<br /> . 1. Paymeat of Rrincipal. In� aod We i�ar8c. P Y
<br />���� on,the debt evidenced by the Note end 1ntQ churgcs due under the Noto.
<br /> Z. �o�y p���of•p��insuru�oe� and pther Ch�rgp. Bormwer sholl iaclude in each mnnthly payaaent,
<br /> "- ' ;., together with the prlacipal and Interest as set forth in We Note and Aay latc charges,a sum for(a) taxes und speclul
<br /> ��': assessmeats levied or to be levied against the Pcaperty. (b) leasehold payments or ground rents on the PcePertl'� 8°d
<br /> (c) Premtums for insuraace required under paragraph 4. Ia aay year ia which the I.ender must pay u�ortgage �_ .
<br /> , iusuraace premium to tha Secmtary of Hous�ag and Urban Developmeat ("SecteterY').or in any year in w���
<br /> - .. . premium �vould have been required if Leader sdll held tho Secudty lashument, each mont6ly paymen
<br /> ' " include either: (i) a sum for the anuual nwrtgaBe iusutence Pmm�um w�P�d by Leader to the Secretary. or(ii)a
<br /> • i
<br />--.:..L.,�.' moathly charge instead of a mortgage insut�sece premium if this Secudty InstnuneA� is held by the Secretary, in a
<br />�'��`"� "; � c�easonable amount to be deterniiaed by the Secretary• Except for We monthly char8e bY the Se�tazY• these items
<br /> - � are calIed "Escrow items"and the sw�as pald to I.er►der are called "�scrow Fuuda." _
<br />� I.ectder u�ry�at any dme, collect and hold amounts for Escrow Itans in an eggregau �°� aot to exoeed the
<br /> ` maxtmwn amount that may be cequtred for Borrower•s escmw acoount uader the Real Eetate Settlement Pmadwres
<br /> Act of 1974,12 U.S.C.+�Zb01�t sea.and jmplementIng regulatioas, 1A CFR P�rt 3500.as they may 1�e amended from
<br />���`�'��,'�:� tiaae ta time("RESPA").excePt that the cushion or reserve per�nitted by RFSPA for uaaaticipated disb�usements or
<br />�;�._�,;,�� disbursements before the Borrower's paymeats are avc�ilable in the acxount may aot be based on amnwits due for the —
<br />'``...;y�,�,� , mortgage insvrance premium.
<br /> ..�;,,.: .�.
<br />�-+�.;�,;' If the amouats held by Lender for Fscrow Itecas ex�eed the amounte permitted w be held by RESPA. Lendet
<br /> . . scxount to Borrower for tha excess t�nds as required by RBSPA. If the amounta of Nnda held by Lender at aay tlme
<br /> :::�,i:� o
<br /> ��';.;� are not sufficient to pay the Escraw Itecas when due.Leader tnaY notif'Y the B°�'°wer and re4uire B°n°aer t° e
<br /> -,:.;.. ' :
<br />=n�.�� np the shortage os permitted by RESPA.
<br /> .,�.,,u.r
<br /> �-_,.;,;�;; :7�Escra�:Ftsads are gl�lg�t as additional securitY•for all sums secured bythis SecurltY Insmunent. I� nrrower .
<br /> - :,�s�,"� tenders w I.ender the fuil payment of a11 such s�,Honower's acconnt sl�all be creGtted v�►itb the baiauue:s�B _
<br />�i-���_�° � � for all instaWneat items(a).N). and(c)ead any mortgage insurance Prem�um iastallment that Lender has nat ber,ome
<br />=�u����� rePund an excess lUads to Borrower. ImmediateIy prlor
<br /> obligated w pay so the SecretnrY, ea� Leader shall pmmptlY Y
<br /> _� . .__ ..__..__.__.............. .�.a>>....m,rtirarl wifh any fiatacoe
<br /> --!� to a foreelosuqe s�e of the Pmperty or i�s au�uieiii�u, vy arcuuc�� a�vaave�.� o w.ww.. e........_' , .
<br /> '—``°` --�� ,. ,� rema3aing for atl installmeats for items (a)�(1?),a� <��• ha 1 ead 2 shall i�e applted by Ixader as follows: �
<br /> —_-- �1 3. Applic�tioa of P�yments. All pa3+mcttts under paraS�ap �
<br />--__-_ :� PIRST,w the mortgage insurance premiuin w be paid by Lender w the Secretary or w the montWy charge bythe
<br /> =-°-T'°°"'!__� �Secretary instead ofthe montEly moxtgage insurance premium;
<br /> ---� SECO . to any taxe.s.special assesaments, leasehold paymeats or grouad rents�and fire.flood aad other ha�ard
<br /> �.. ,_- ,.:.,�.,�
<br />==�-��•-�s �. .
<br /> i�.��. : : insnranse premivais, as reiluiredi
<br /> �:_ THIRD. w interest due under the Note; . ' .
<br /> •�;�r���, � ' 'POUR . to amorti7ation of the principal of the Note: end
<br /> =-��� � FIFT , w iate c,hst8es due unQer the Note. �
<br /> ----�� �. 4. F'me.Flood aond O�La �izard Ia�• Borcower shall in.gure all improvements on the Property: vihether ,
<br /> --- - ,. � now in eaisteaoe or subsequently erected. against ei►Y haza�s+ casutilues, and contin8ensies� it�clai�ng flrc.for which . :
<br /> --- �—:•3 Lender requires iasurance. Thia inswande shaU be maiatained in the amou�s and for tt�W p'�riods that I,rsender � ,
<br /> -- sequims. Borrower sl�aU alsn insare a�1 iaaPmvements on the Propzrty, whether aow ln exis�tence or subsequently
<br /> -9 ainst loss b flooda w the extem r�9uired bY thc SecretarY. AU insurance shall be can3ed wlth wmgacies
<br />_ __ a erected. ag Y
<br /> aPProved by I.ender. The insucance Wllcies and aay reuewatt: shnll be held by Lender and shall include loss p e
<br /> -f clauses in favor of,and ia a form accePtable to.1�ender-
<br /> �B
<br /> "�' In the event of loss�Borrower shall give Lender ���ed is heieby authortzod�and direcccd to�fmaloe Payment �
<br /> `� anade pmmptly by Boirawer. Bach insutanoe wmpany of the ins�uance
<br /> �'v°". '-' for such loss directlY w Lender� iastead of w Borroaer aad to I�der joiady. All or aaY P�
<br />----��_ �•`.� pmceeds may be aPPlied by Lender. at its optlon. either (a) w the reducHon of the iad�btedness under the Nou and -
<br />_--`_�.��. ���ty�s�ument� first to any delinquent amounts applied in the order ia paragraph 3,and thea w P�P�Y�t
<br /> k��:h+.-� of principai, or (b) to the restoration or repair of the dema8� �P�Y. Aay ePPUc�ien of the pl000eds to the .
<br /> ,�.�;r. ts which ese refetred to in puegra�► 2.Ot
<br />��,,:. Principal ehall not extend or postpone the due d�e of the aronthly paYmea � �owatanding
<br /> - .s-�;s ..:= ts. Any excess insuranae pmoeeds over an amount ce�Nired PaY
<br />�..._a_,� change the amount of such paymen
<br /> ;;T}�;cy�;�,-�r� indebtedness under the Note sad tl�is Securtty Iastrnment shall be paid w the endry legally eat[tled thaeto.
<br /> - `;�,:��:;i� In the event of foreclosure of this Secvrity Iasuument or other uansfer ot tide to the proP�Y��a
<br />'�__'%�•'`•��.''.� , the tadebtedaess. atl rlght.tide aad interest of Borrower in nnd to insusanoe policles in foroe shall pass to the
<br />=•;'-�"�'�:�';. pnrc6aser. Bo�e�'e i,oam APP�'�°�
<br />�_. �_; s. �vp�oc9 P�'�im. Msimwmce aoa P�ot�tan ot tho rrope:tY:
<br />�'���_- . w�.�►u►er aball occunv.estublish. and use the Property es 8om►wer's principal resideaa within si�tY�Ya
<br /> ■, . .r.Lett
<br />_:- `. �:�''�� aRer�the execution of thls Security tastnuuent (or withtn slxty days oi a laut saie or a�Por oi inc r..�.v,�,..--.
<br /> . , • � contiaue to occupy the Praperty ns Boirower's principat residenoe for at lesst one year aRer th�:date of oocupaacy�
<br /> e �WU cause und�ce hardship far Bocrower. or unlcss eateauatin8
<br />_-.ti . : �ea� .. udes.a Leacler determines thct cequirea�en
<br /> - .. � ' ' ci�cuuutaaces ea�st whic4� are beyoad Bon�ower's conuol. Borrower EhaU notifjr Lender of any extenuating
<br /> l7 ,�*--,
<br /> , ,� , NBBit!►RICMPHA D�OP'17tlTST
<br />' . nawa�.sr��ceom as���at Page 2 of 6
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