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<br />_,.•.,; , BORROWER COVENANTS that Borrawer is lawfully seised of the estate heteby convey sis t to
<br /> :.. ���,� grant and coavey the Properry and that th�e Property is unencumberi:d,except for encumbrances af record Bonower _
<br />,.:,�,� warrants aad wW defend generally ttte tltle to ths Property against all claims nnd demands,subject to any encumbrances �
<br />`-;�y�,;;`� of record.
<br />_.-a�-��,,,; THIS SECURITY INSTRUM�NT cambines uniforcn coveaants tor national use unnd non-uniforna covcnants witb
<br />•:�;�,:' : Wnited variatlons by jurisdictlon to constitute a uniform seeurity instrumcnt coverIng real property.
<br />__� �
<br /> l'`__,"___`_ UNIFORM COVENANTS. Borrower und Lender wvenant and agree as tollows:
<br /> 1. Payment ot PrindpU.latarat Rnd 1�tta t�t.r�o. B�rruwe�sl�ell Nay wuo�i dua tuc pelnclpal of,und intcrest
<br /> ..--..�.i�� on,the debt evldenced by the Nata and late charges�ue under tho Note.
<br /> - —� 2. M�thty prymeat o[Zinoes„I�uranoa aad Otbec Cbu�e�s, Borrc�war shall includc In each monthly paymcnt,
<br /> :'���:,� togethar with tha prtncipal and laterest a�sct forth in the Note apd any leto charges�a aum for(a)taxes and special
<br />:�;°� asseasmenta levied or to be icvled against tha Property�(b)leesohald paymoata or grouad rencs on tha PrAperty�and
<br />-.:�-�� (c) premiums for lnsuranco reyulred under paragraph 4. In any yeu in which the Leuder must pay a mortgage
<br />..,���?a�� insuranoo pramium to tho Secrotary of Housing and Urbuu DavElopmeat('Secrctary")�ot in any year in which such
<br /> —• premium would hava beea requirod if Lender still held thc Securlty Iasuumeat,each mottthly payment shall aLso
<br /> — - lnclude ciWer.(1)a sum for tho annual mortgage Insurance premium ro bc paid by L,cnder to the Secretary,or(ii)a
<br /> = monthly chargo inscead of� mortgage insurance premium if this SecuritY Iastrument i� held by the Secretary,in a
<br /> -- reasaaable aaiounc to bo determined by the Secretary. Excepc for the monthly charge by the Secretary,these itams
<br /> .�.��, are called'F�crow Items"aad the swns pald to Lemder are called'Escraw Funds."
<br /> ______�, L.ender may,at any dtae.ooAect and hold amounts for Facrow Items in aa aggregau amount not to eaoeed the
<br />-- tpa�dmum aanount that may be requtred tor Bonower's escrow account under the Real�stete Settlement Procalures
<br /> � Act oi 1974,1z U.S.G�2601 et sea.and implementing regulations,24 CFR Part 3500.as they may be amendod from
<br />°°°-°=,��,;; tImo to tirae("RESPA"),except that the cushion or resezve petmitteA by RESPA for ustandcipated disbursementa or
<br /> dlsbwsements before tlu Bonower's payiaents ace available ia the acwunt may not be based on amaunts due for the
<br />_--,=�• mortgage Insurance premium.
<br /> If the amounts held by 1.ender for Fscrow Items exceed the amounts permitted to be held by RESPA,Lender shall
<br /> acoaunt to Bonower for the excess funds as required by RESPA. If the amounts of funds held by Lender at any time
<br /> are not su�icient to pay tlie Fsctow Items when due.I.eader may notity tha Bonower and require Bonower to make
<br /> up the sbortage as permitted by RESPA.
<br /> The Fscrow F�nds are pledged as additional securtty for all sums sectued by this Security Insuumea� If Borrower
<br /> tenders to Lender the full paymeat of all such sums,Bonower's acconnt shall be credtted wIth the balanoe remaining
<br /> for all instaltment iurus(a),(b),8t1d(C)aAd any mortg8ge insuisnce premium instailment tbat Lzudar u8a noi i'ic'CC'i�to
<br /> obligated to pay to the Secretary,and Lender shall promptly refund any excess funds to Bottower. Immediately prior
<br /> to a foreclosure sale of the Property or its acquisition by L,ender,Bonower's aocuunt shall be credited with any balance
<br /> remaining for all installments for items(a)�(b),and(c).
<br /> 3, q,ppllntioa of Paymean. All payments under paragraphs 1 and 2 shall bB applie�by Lender as follows:
<br /> F1RST•to ttte martgage inanrance preiaium to be paid by Lender to the Secretary or to the monthly chatge by the
<br /> Secretary instead of the monthly mongage insurance premium;
<br /> SECOND.to any ta�ces,speclal assessments,leasehold payments or ground renis�aad 8re,fload and othor ht�zard
<br /> insurance premiums�as required;
<br /> - THIRD.to Interest due under the Note;
<br /> (�J$T�I-,to amortl7ation of We princlpal of the Note;and
<br /> t�'kt�,to late charges due uader the Note.
<br /> ,4, Piro„pbod a�d ptber I�Lard Im�uanoo. Bonower shall insure all improvements on the Property,whether
<br /> now in e�dstence or subsequently erected,agaiast any hazards,casu�►lties.and continBencles,includiag Sre,for which
<br /> Lender reyuires insurance. This insurance shall be malntained in the amounts and for the periods tbat I.ender
<br /> requires. Bonower shall aiLso insure all improvements on the Yroperty,whether now In eadsteace or subsequently
<br /> erected,against loss by floods to the extent required by the Secretary. All insurance shall be carrIed wIth wmpanies
<br /> approved by Lender. The insutance poHdes and any renewals shaU ba held by L,ender and shall lnclude loss payable
<br /> clauses in favor o�and in a form acceptable to,Lender.
<br /> In the event of loss,Bonower shall give Lender immediate notice blr mail. Lender may make proof of loss if not
<br /> - - — made promptly by Bonower. Each insurance company concemed is hereby authorized and directed to make payment
<br /> =-�i for such loss directly to I.ender, lustead of to Bonower and to Lender jointly. All ar any part of the insurance
<br /> --�� proceeds may be applied by Lender�at its option.either(a)ro the reductlon of the indebtedness under the Note aad
<br /> �-�_::�"� this Security Instrument,&st to any delinquent amounts appUed in the order In paragraph 3,and then to prepaymeat
<br /> __-°=A��� of pdncipal,or (b)to the restoration or repair of the damaged Propeny. Any application of the proceeds to the
<br /> =;�� principal shalt not extend or postpone the due date oP the montlily payments which are refened to in paragcaph Z,ar
<br />-•��i��,ty_.,,. change the amount of such payments. Any excess inssuranre proceeds over an unount required to pay all outstanding
<br />�r�'j-�s:�'�� indebtedness uader We Note and this Security Instrument shall be paid to the endty legally entitled thereto.
<br />�'"'=•``��"^ In the event of forecloswe of ttds Security lnsuument or other transfer of tide ta the Propeny that extinguishes
<br /> r;;������a� the indebtedness, all dght, title and interest of Bor_*ower in and to insurance policles in force shall pass to the _
<br /> • : purchaser.
<br /> `~�.` � 5. Oowpani.y, Ptesuvatbn, Mainte.naaoe and Ptote�tton or tho Pmperty; Bon�o�w�er'a Losa Appllcatbn;
<br /> >��- �,�;_ � L�eaaeholds. Borrower shall occupy,establish,and use the Propercy as Borrower's princtpal residenoe within sixty days
<br /> � '� `` after the execution of this Secudty Instrument(or wIthiu sixty days of a later sale or transfer of the Property)and shaU
<br /> ��6,��t_ ,,
<br /> �%` ' , conti,tiue to occupy the Propeny as t3orrawer`s principai residence mr ac ieasc vne yeur�iccr iuc u�iic�i�i�:uYaa�y,
<br /> • unless Lender determines that requireunent wW cause undue hardship for Borrower, or unless extenuating
<br /> . circumstances exist which are beyond Borrower's conuol. Bonower shall notiijr Lender of any extenuating
<br /> •.,+.
<br /> NBBi2A3KA t4lA DBBD OF'IRUSf �
<br /> � Document 9yuem�.Ina(eoo)w¢Ut2 PBge 2 of 6
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