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<br /> =-�+•� • ed and has the ri hc to
<br /> -. .. BORROW�R COVENAN'1'S thet Barrawcc is lawtulty sclscd of th�cstute hcrcby comcy B _..
<br /> '�'�""" grant and oonvey the Propctty end that the Prapecty!s uncncumbcred,cxcepR tor cncumbrano�s of rccord. Bottower � .
<br />�;��_,�_f warr�nta�nd w1U dc;fend Qenerally Zdo Utic to tho Property raninst all cl�lms�nd demends,subJect to any encumbrancxs =_
<br />,i`,u:;�, of reoord.
<br /> -w;.N_ TH1S SECURITY�S'TR n�to coT Uwte a un1[oQrm socudry lnstrument noo�+c�r�iag real property �v�nantswith -
<br /> � limitod vari�tians by J
<br /> �.:
<br /> �� UNIFORM COVENANI'S. Bflrruw��and undcr oove�a�!�b u y�when due the ptlnclQal of,and interest L
<br /> - _.:.:. 1. PaymaH oI Pti�cipv.Iaterat a�d Lato C6arp. P"
<br /> �� an�the de�t e,widenoed by the Noto and late chargcs due un�1e�tdc�tt�r`�include in each montWy paya�en[,
<br /> �- �� 2, Maathty pay�o�t o(1boe��Ia�a�a�oe�ad Olbe�[C�rlew.
<br />„� m.
<br /> �-.�', together wlth thc princip+�l end Interest as set forth in the Noto and any Ute charges,a swm tor(a)taxes and s
<br /> `»:��. �ssexsments l�wlod or to be loviod�gainst tha Properry.(b)Icasehold p�ymants or ground ren�a on the Properry.and
<br /> ,.«�, !n whlch the Lender must pay e mort$age ___
<br />�=3�'. (c) Premiums for insurucx roqulred under patABrs�Ph 4. In�uay ycrc �ln whicb such
<br /> -'��`�-3 i�tsurana premlum to the Secrotary ot Hoasiag Aad Urb�n Develapment("Socrataty"},or in any y
<br /> -`?''; premium would have been roquired tf undcr sWl held the Socurity Wuument,each monthly paymcnc stull also
<br /> m
<br />'''�� include etthet:(i)a sum tor the aanwl matt8a8e tnauranoe premtum to�e pild by Lender to the Sa�retary ( )
<br /> -s_�:s'a7 monthty charao instead ot a mortgage[nsuranca premium It this Secudty �nstrument is held by che Serretary, i�►a
<br /> -=-- reasonablo amount to be deterenlned by tl►e Socretary• Fxcept[ar the monthiy edarge by the Secretary.these tums
<br /> -- are caticd'Escrow Items'snd cha sum�paid to Lender ue eiUod'F.seno+v F�n�1s.� _
<br /> r�''�"'� L,ender a�ay.at aay Wne,oolle�t and hold amounts for�sccow Items in tn aggregate amuunt raot to e�c�ccc�the
<br /> ��� maximum amount tbat may be roquired for Borrower's acrow aeoa 24 CFft Part 3500,as they may be amond�from
<br /> "'_�� Act oP 1974.12 U.S.G g2b01 et sea.and in►plementing cegulaUons�
<br />_ titne to time("RESPA"),exoGPt ths�t We cuaWon or reserve pormittod by RESPA for unandc[pated diLbwsen►ents or
<br /> =—=���� dishu�rsecuents before the Hanower's paymcnts are avaiUble in che a000unt nwy not be based oa amouats due for the
<br /> mortg�ege insurance premium.
<br /> -- If We amounts hald by Lencler tor Fscrow Items ezoeed the amounts per�atttod to be held by RESPA,I.ender shall
<br /> "�i� a000unt to Bomowet for We encess fuads as rWuired bY RESPa U th��°n°°°�of fuads held by I.eader at any Wne
<br /> = are not sut6cient to pay the Fsc�row Items when due,Leader may notify the Borrow�er siad reQuire Bonower���
<br /> up the shortrge as parmttted by Ri'SPA.
<br /> �— 'I'!se L�!►F„�ac sre plc�dged as addltiorW security for aU sums securod by tids Security Instrumen� If Borrower
<br /> tenders to Leader the full payment ot all such sums,Bono�w���s eo00ulti shali be craiitix►wjih iSi�bal:uct=ss�siaS
<br /> tar all installment Items(a),(b)►and(c)and any mortgage insurana pr�mium insc�llmeat that Lender has nnt b000mo
<br /> obllg,ated co Qay to tha Seaetary�anor�nder�hsU n b�Lpender�Bonower's�a �t� credit��te�o�r
<br /> to a foreclosure sale of thc Properiy aQ Y
<br /> remainiag[or ell installmeats for items(a).(b)�au►d(c).
<br /> 3, Ap�xtba ot psynean. All paya►ents under paraBrsPha 1 and 2 shall be appliod by Lender as follows:
<br /> FiRST,to the mongaae iasw�noe Pr�n�iva►t°be t�td by'L�nder to the Secretary or to the monthty chaige by the
<br /> - Secretary toscead of the monthly mortgage insaranae pnmium+
<br /> S CO to any taxes.spec[al assGSSments,teasehold paymeau or ground rents,and&e.Aoc�d and other har�rd
<br /> insuraaa premiums.es required:
<br /> �jjgj�,to interest due under the Note;
<br /> FOURTH•to amotdzatIoa of the princ[pa►1 of the Note;and
<br /> I�F ,to lau chatges duo under the Note.
<br /> � �py����}�d trusa� Borrovver shall iasure a111mprovements on the Propercy,whether
<br /> now in eadstena or subsequendy erocted,against any hazards.c�ualda�$nd oontingencia,iacludi°$�+for which
<br /> = Leader requires insurance. 77ds insuranse shall be maintained in the amounts and for the pertods th�t Leader
<br />------ requires. Borrower shaU aLso lnsure all imPrm+c�nts on the Propeny. whether no�w in adstena or sut�aoquently
<br /> - - erected,a8einst loss by ttoods ta the exteat roquired by the Secrctary- AU insurance shall be carr[od wIth wmpanies
<br /> approvod by Leader. 7Le iusurance pollcIes and any nn�ls shaU be held by Lender and shall in�lude loss payable
<br /> — clauses in tavor of,and in a form aooeptable to� Lender.
<br /> In the cvent of loss�Hormwer shall give Lender Immedlate nodoe by mail• 1�ender mxy maka proof of lass if not
<br /> = made promptly by Borrower. Each Insurance oompany ooncerned is hereby suthort�ed and dirocced to make payment
<br /> ..-��,� for such loss directly to Lender.tastead of w BQrrower and to Lender Jointly. Ai1 or any part of the insuraaa
<br /> ,�3�, proo�ls muy be applied by Lender,at its option,either(a)to the reducdon of the indebtedness under the Note and
<br />_T-:_,,�,.:.: Wis Security Instrumeat,6rst to any delinquent amounts appHed in the order in pazagraph 3�and then to pnpayment
<br />;=;;;�;i���: of principal,or (b) to the restorat�an or repair of the damaged Propeny. Any applic�uon of the proc�ceds to the
<br /> 'F;`i;;;;' prindpal shaU not extend or postpone the due data of the monthly paymc:nts which ere refened to in paragraph 2.or
<br /> change the amount of such paytnents. Any exoess lnsurance Proceec�s over an amount required to pay all outstanding
<br /> .� indebtedncss under the Note and this Secudty Ioscrument shall be pald to the entiry legally entided thento.
<br /> ..�._ . Ia We event of foreclosure of this 5ecadry Instrument or other transfer of title to the Propercy t1�at extin8uisbes
<br /> "' the indAbtedncss, aU dght, title and interest of Borrower in and to iasurance poHcies in foroe shall pess to the
<br /> purchaser. �►s Losn �4pplintion:
<br /> �''� � 5. OxopatK.y. Pn�eMdoo► Maiatemnoe and P�otoWoa of ths Pt+operty;
<br /> `-`_-�.-� t�.cbntd� Borrowcr shall oocupY.establish,and use the Property as Borrower s principal resIdenae within sixry days
<br /> �..__a_���
<br /> "'''� S- after the execation ot'this Security Instrument(or within sixty days of a tater saie or uansier oi��r.��..»����
<br /> aoneinue to oocupy the Pmperty as B�rcowePs pdncipal residence [or at least one year after the date of oocupan�y.
<br /> � � uNes� Lendcr determines that roquirement wlll causc undue hardship for Bonower. or un1_ess excenuating
<br /> � circumstances exist which are beyond Bc�rrower's oonuoi. Bonower shaU noti[y Lender of any extenuating
<br /> , ,--�'S�
<br /> � N�sKw��ru naso o��rnusr
<br /> . � aoaeeM s�,c�"'�ina t���� Pagc 2 of 6
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