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<br /> . • Rg•RECORDEU fuSs���'�� co�'���i�'Qu`1r'�i co
<br /> BORROWER COVENANTS thu Borrower ii l�w ly�ei henby
<br /> Qruu tad convey the Propeny and thu the Propeay ie unencumbered, except for encumbru►cea of record. Bonuwer
<br /> wuru►ts u►d willdefcnd�enerally the ddc to the Propeny �4�inat �ll clnime �nd demande, aubjcet to u►y encumbrwca
<br /> of rexocd.
<br /> THIS SBCURI7'Y lNSTRUMENT combina unifortn wvenuru for nadoc�l use u►d non-uniform covenu�u with
<br /> Ilmited wvi�tions by juriisdiction to constftute p unifomt security Instrument covering nal property.
<br /> UNIFORM COVENANTS. Borrower and Lender covenu,t �nd �grce�s follows:
<br /> 1. Payment of Priocipd� lntecrit �a�d Late GLa��e• Borrovver shall pay when due the princlpal of.end intere�t
<br /> on, the debt evidenced by the Note w�d l�te charges due under the Note.
<br /> 2, Moothly pryment of Taxca�imunooe, �oA Otbcr (�. B�nower shQl include ln each monthly p�yment,
<br /> toge�her with the principal and iaterest as set forth In the Note and any late charga, a sum for(a) tax�s md cpeci�l
<br /> uaessmeau leviod or to be leviM�gainat the Property, (b) le�sehold pAymenta or ground nnte on the Propetiy, and
<br /> (c) premiumt for insurac►ce requ[rod uader puagr�ph 4. In any yeu in which the Lender must pny �murtgaQe
<br /> lasurmce premium to the Socmuy of Housing and Urban Development ("Secrecary"�,or in xny yeu in whicd such
<br /> pr�mium would havo boen cequire+d if Lendcr still held the Sociuity InsUwYrcat, e�ch monthly paymenc shdl aleo
<br /> includt either: (1) n sum for the uu�ual rnnngagc insuru�ce premium to be pud by Lender to We Secrctxry, or(il) s
<br /> mot�thl;v chuge instucl of�mortgage inaurw�ce pmnium if thie Secudty Insuumrnt ie held by the Secretary, in•
<br /> tcnsonNblc amauat to be determtned by the SecretAry. �x�pt for thc monthly c,�tu'ge by the Secretuy� thesc itcros
<br /> ue. cal:ed "Es,row Items" uxi Ihe sums paid to Lender s�re called "Escrow Funds."
<br /> L�ec�der may,xt any cim, collcet s�nnd hold unounta for Escrow Items in an aggro$ate uno►�n� na u�exoeed the
<br /> maxlmum aaaunt that may be requirod for Borrower's escrow Account under the Real Estaco Settlement Procedures ,
<br /> Act of 1974,12 U.S.C.�2601 se .�ud implemeating ree�uluione, 2A CPR Part 3500,w they may be amrnded from
<br /> ttme ta llme ("RESPA"). except that the cushioa or reserve pemtittod by RESpA for unandcipatai dbbunemnts or
<br /> disbur�emeat� before the Borrower'a payrnenta ue available ut the�ccount cn�y not be based oa unouata due for the
<br /> muct�e uuur�noe pranium. �
<br /> ]f the �mounte held by Lrnder for Esccow ltcme excad the umunts permitted to be held by RESPA, I,etida :hil1
<br /> �cxouat to Borrowa for the exasa funda �s t+equirod by RESPA. If the ttncwnW of fiu�de held by I.eader �t any time
<br /> ue n�t auYficieat to p�y tbe F�crow Itema when due� Lenda may notify We Borrower �ad cequire Borrowa to m�ice
<br /> � �. .,�j �ew ��rmirt� hv RESPA. •
<br /> 'The Facrow•Fund�are pled�ed,as�ddltionel aecuriry for dl awm socured by thu Security In�trumeat. !t iion'°wer .
<br /> teaders to I,endei�� thc (Wl paymait,of ul euch swm,Ber�+owa'� �000unt'sh�lt be credited with tbe bilwa c�enutnin� ' .
<br /> for�11 ifi:taAmeat item�(�)�(b)�and(c)�ad any mortga�e inauranoe praniwn iustallmeat tlut L�eader has not bopqrne
<br /> obli�wYed to pay to the Sect�etary�and L,ender shall promptly cefund �ny eaasa[I�nd�to Borrower. ImmedlMdY prior
<br /> ta a forecloa�re sale of the Property or it:acquiaitlon by Lender, Horrower'e�a�ount thall be creditod with my,balanoe
<br /> tem�inin� for�II intWlmeau for itema (a), (b), �nd (c).
<br /> 3. Applic�tio� d Pa�me�b. All paymeate under Wr�Brq�u 1 aod 2 sh�ll be�pplied by L,eadcr ar follorvs:
<br /> p�.to the murt�a�e inru�noe praaium w be paid by I.eoder w tbe Secretary or to the monthly �e by t6e
<br /> Secmary ineteid of the moothly moR��{e inaunuxe premium: �
<br /> �Q. to �ny tuea��peciit uta�ats. Iwehold p�ymenta or graund renu� s�nd fln�flood�md aher hazud
<br /> im�ramx pcemiutm. �u cequIrod:
<br /> �. to interat due nMer tbe Note: , �
<br /> �Q1j$'�j. to �moitia�tloa of the principal of the Note; and •
<br /> �g�j, w lau c�a due under the Note. , �
<br /> �.4. Plre.lbod �d tll�er E��rard tn�oesooe. Borrowcr��hall insure al improvanenu on the Propaty, wliother
<br /> ' � now in exiueaoe a sub�eqnendy eiected� *giuut �ny hazarcl�� cau�ltiea, �od oontinQeacia, includiag fire.1'ot;'whkh ', .
<br /> I,ender mquira inturiace. 1LIs intut�ncG eh�ll be m�int�ined in�1he unounts �ad for tbe perlods that La�det
<br /> requi[a. lbrrowa rhall �l�o ineure all improvemeats oa the Pmpa'ty. whether now in exittente or wb�equcnUy .';.
<br /> eraxod. a�inu lou by Soods to the exuat required by the Socrct+ry. All in:uranoe �hall be c�rried whh oomp�nia
<br /> �pproved by I.eader. 'R►e insuru►ce policia �nd wy renew�ls s6�11 be held by L.enekc md shall include los�p�yabk
<br /> cl�wes in hva of,imd in a form aoxptabic to, Laxkr. f of lo�t lf not
<br /> In tbe evau of la�. Aorrowa ahall givo l.enda immodiue aotioe by mul. Gender m�y ro�ke proo . .
<br /> made peapQdy by Borrower. Fach innuuicx co�►Y ooncerned is ber�eby authoritxd ud die�ected w m�te ptyma►t . .
<br /> for euch loa diraKly to I.eader� instead of w Borcower and tn I�rnder kintly. All or �ny p�rt of t6e imunmoe
<br /> proovedr m�y be s�pplied by L,ender� at ib optloa. eith�x (a) w the reduc►ioa of tbe indebtedoe�a under t6e Note md
<br /> chii Seauicy Ioscrunrnc. firsc a aay delinqua►e +mwuau �pptied ia che order in pu�r�ph 3��ad tha w pc+epnym�t
<br /> of princip�l, ov (b),to the reacoratiop ur repuir of the d�m�god Propetty. Any+pPlic�tion of tl�e ptooeed� to We
<br /> , � principol shali pot eutend or poatpone the due date of the monthlY WY�� which are referred to in p�ph 2�a
<br /> ctw�e the unount of cuch pay►ncnu. Any ezass insuraaa peoceeds over�n unount requirod to p�y dl outq�ndl�
<br /> ir,�d�btedneu wder thc Note nnd Wi� Sacurity Instrument slull be pald to the aUicy leg�lly eadUed tbnaw.
<br /> In tl�e event of forocloaun of thia Security Inatrumeat or other tra�sfer of tide to the FYoporty lhat exti�ui�he+
<br /> ' the i�debtednaa, �11 rig6t, dde and intereat of Borrowa in amd to insurano� policks in lora �hall paa w t!�
<br /> purchaser• Barow�ec•� Loo Ap�plic�tio�;
<br /> t nn��.�...��_ P.r�ev�tim. �1�tooe �od PIOIO�b� of We �Np�h;
<br /> Lereboidt. Borrower sh�ll uccupy�ut�bliah� u�d uar tlx Propcxty aa Barrower's princ[pal raide�a wttoin aiuydry�
<br /> aRer the exxutioa of this Secudty Insuumrnt (or within siaty dayn of�lua s�lc or tr�wfa of tLe Propercyj �od�Wl
<br /> contfnue to oocupy the Property as Borrowa'a principal raidence for at lrast +nae year�fter the d+te of cx�aip�ncy,
<br /> unlps I.ender det�rmines th�t requirrn�eat will cause unduc hud�i►ip for Borrower. or uda� extaw�tins
<br /> circum�tancss extst which �ire beyond Borrower't coatrol. Borrowa sh�li notify La�det of w� extenu�tin�
<br /> r�rew�u►-rru �oF 7�tusr �
<br /> �� �,k.i��,�� PaQe 2 of 6
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