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<br /> � � • TOQC•THER WITH ell the Improvements now or hereafter erected on the propeAy, end all easements. appurtenances, end ' '-
<br /> � .: �.:.-'_=
<br /> � fixturea now or hereatter a pert ol tha property.All replacRments and addltlons shell elso bo corered by this 9ecurity Inetrument. -
<br /> All ot the foregoing Is reterred to In this Secu r i ty Ins trum e n t a s i h e "P r o p e rt y.' -
<br /> � BORROWER COVENANTS Iha4 8orrower Is lawfully selzed ot the estate hereby aonveyed and has the right to grent and `,� ,.,,
<br /> , convey the Properly end that the Properry Is unencumbered, except for encumbrences o1 record. Borrov�er werrants and will �, �
<br /> detend generally the title to ihe Property aflalnat ali clalms and demands,subjeot to any encumbrnncos ot record.
<br /> + 7HIS SECURITY IN8TRUMENT combines unitorm covenants tor national use and non•uniform covenants with IImItQd
<br /> i veriations by Jurlsdictlon to constitute a unllorm security Instrument covering real property. �
<br /> � UNIFORM COVENANTS. Borrower and Lender covenant and ac�ree as follows: � ,
<br /> .� 1. Payment of Prinalpal and Ir�terest; Prepayment and Late Charges. Borrower shull promptly pay when � I _
<br /> due the princlpal ot end Interest on ihe debt evldenced by the Note and eny prepaymont and lato chnrges due undnr the No�o.
<br /> 2. Funds for Taxe� and In9uranae. sud�ecr �o eppllcable law or ta a written waiver by Lender. Borrower shall pey _
<br /> � to Lender on the day monthly payments ere due under the Note, untll the Noto Is pald in lull, e sum ('funds`) lor (a) yearly � _
<br /> ,_,,.. � taxos and asaessments which may attain prlority over this 8ec�riry Instrument es a Ilen on the Property: (b) yearly leasehold �
<br /> earl Ilood Insurence , �-
<br /> ,M � payments or ground rents on the PropeAy. If any; (c) yeaiiy hazard or property Insurance premiums; (d) y y _
<br /> premlums, It flny; (e) y y g 9 p en sums a able b Borrower to Lender in eccordance � •�__•
<br /> + earl mort a e Insurance remfums. N any; and (� y P Y Y ,�_
<br /> . � with the provlslons o1 paragraph 8,In Ileu of the payment of mortgage Insurance promlums. 7hNSe items are called "Escrow O .
<br /> Items.' Lender may, at any time, collect and hold Funds In an amount not to exceed the maximum emount a lender lor a r J �;.
<br /> � federally related mortgage loan may requlre Tor Borrower's escrow account under the federal Real Estate Settlement Proceduras
<br /> I qct of 1874 as amended 1rom time to time, 12 U.S.C.�2601 et seq. ('RESPA"), unless another law that appiles to the Funds _�._
<br /> � sets a les�er amount. If so, Lender may. at any time, collect and hold Funds in an amount not to exceed the lesser amount.
<br /> Lender may estlmate the amounl 01 Funds due on the besls of curent data and reasoneble estimates of expenditures of luture
<br /> Escrow Items or otherwlse In accordance with eppllcable law.
<br /> 1 The Funds shall be held in an Institution whose deposits are insured by e federal agency. Instrumentality. or entity(Including
<br /> �i Lender, if Lender is such an InatituUon) or In any Federal Home Loan Bank. Lender shall apply the Funds to pay the �scrow �.
<br /> Items. Lender may not cherge BoROwer for holding end epplying the Funda, annually unnlyzing the escrow account, or vedying .I
<br /> � the Escrow Itema, unless Lendor pays Borrower Interest on the Funds end appucable lew permits Lender to make such a
<br /> � charge. However, Lender may requlre Bonower to pey a one-time cherge for an independent real ostato inx reporting service
<br /> used by 4ender In connectlon with thls loan, unless eppllcable law provldes othervvise. Unless an agreement is made or
<br /> appliceble Iaw requlres Interest to be pald, Lender sheil not be requlred to pay Bortower any interest or eamings on the Funds.
<br /> � Bon'ower and Lender may agree In writing, however, that Interest shau be peld on the Funds. Lender shall give to Borrower. _
<br /> .� ; without charge, an annuel accounting of the Funds, showing credits and debits to the Funds and the purpose for which each __
<br /> � � debit to the Funds was made. The Funds are pledged as addltlonal seourity for all sums secured by tho Security Instrument.
<br /> � ; If the Funds held by Lender exceed the amounts pertnitted to be held by appucable Iaw, Lender shell account to Borrower �:
<br /> �' for the excess Funds In eccordance with tho requlrements of appllcable law. If the emount of the Funds hold by Lender at any _
<br /> ' time Is not su�clent to pay the Escrow Items when due, Lender may so notHy Borrower In writing, and, in such case Borrower
<br /> shall pay to Lender the amount necessary to make up the deflclency. Borrower shall make up the deficlency In no more than _
<br /> twelve monthiy payments, at Lender's sole dlacretlon. �
<br /> � Upon payment In full oi ell sums secured by this Secudty Instrument, Lender shall promptly retund to Borrower any Funds �
<br /> held by Lender. If, under paregraph 21, Lender shall ecquire or sell the Property, Lender, prior to the acqulsition or sale of the :_
<br /> - Property, shall apply any runds heio by Lnnde� ai.ha i�ms ot acquls!!!�.^. ^r se!e Ac a crAdit aaainst the sums secured by thls o�_.
<br /> ' Secudry Instrument.
<br /> ' 3. Application of Payments. Unless epplicable law provides otherwise, all payments recelved by Lender under
<br /> paragraphs 1 and 2 shell be epplled: flrst, to any prepayment charges due under the Note; second,to emounts payable under _
<br /> � , paragraph 2; thlyd,to Interest dua;lourth,to principal due; and last, to eny late cherges due under the Note. —
<br /> 4. Charges; LI811S. Borrower shall pay all taxes, assessments, charges, fines and impositlons ariributable to the
<br /> � . Property which mey atteln prforiry over thls Securlty Instrument, end leasehold payments or ground rents, If any. Borcowar shall
<br /> ��i pay these obllgatlons In the manner provided In paragraph 2, or If not pald In that manner, Borrower shall pay them on time _ _
<br /> . `= plaragrflph.thf BortuwerWmakesy hoso payments dlr�elcty�Bo ower`S hal�l pro ptlyalfumisheto iLendornteceipts evldencng t le ----
<br /> �� payments. -_
<br /> �. Borrower shall promptly dlscherge eny Ilen which hes prlority over this Security Instrument unless Borrower: (a) agreos In -
<br />- p writing to the payment of the obligatlon secured by the Ilen in a monner acceptable to Lender, (b) contests In good faith the :�.
<br />- " F• Ilen by, or defends agalnst enforcement of the Ilen In, legal proceedings whlch In the Lender's opinlon operete to p�event the �
<br /> " �`" eniorcement of the Ilen; or(c)secures irom the holder of the Ilen an agreement satisfectory to Lender subordlnating the uen to �-_,
<br /> � thls Secudty Instrument. If Lender detortnines that any part ot the Property Is subJect to a Ilen whlch may attaln prlodty over this "�
<br /> .. �` Security instrument, Lender may gNe Borrower e notico Identifying the Ilen. Borrower shall satisfy the Ilen or take one or more ol
<br /> � � � the actlons set forth above wlthM 10 tlays o1 the gbiny ul notice. -
<br /> �� 5. HeZafd or Property Insurance. Bortowor shail keep the improvements now exlsting or hereafter erected on the __
<br />� Property Insured agalnst loss by Nre, hezerds Included withln the tertn 'extended coverege" and any other hezards, Including _
<br /> �. floods or iloodln4, tor which Lender roqulres Insurence. This Insurance shall be malntalned in the amounts and for the periods ;r;_
<br />- ;,:. that Lender requlres. 7ho insurance carrier provlding the Insurance shall be chosen by Borcower subJect to Lender's approval �:,'--------
<br /> �n whlch shall not bo unreasonably withheld. If Bortower falis to malntaln coverage described above. Lender may, at Lender's _
<br /> t , '�;'1' option, obteln caverage to protect Lender's rlghts In the Property In accordance with paragraph 7. —
<br /> All insurance policles and renewals shall be acceptable to Lender end shall Include a standard mortgage clause. Lender __
<br /> - shall have the dght to hold the polfcles and renewals. If Lender requlres, Borrower shall promptly give to Lender all recelpts o1 �_��,.____
<br /> pald premlums end renewal noticas. In the event of loss. Borrower shall give prompt notice to the insurance carrier and Lender. - •��
<br /> Londer may make prool ot loss II not made promptly by Borrower. .;:_��,r_-
<br /> Unless Lender and Borrower otherwlse agree In writing, fnsurance proceeds shall be epplied to restoratlon or repair of the �;�,�
<br /> : r�� ,_.
<br /> Property damaged, if the restoratlon or repalr Is economicelly teasible end Lender's securiry is not lessened. If the restoraUon or _,��, _;�-
<br /> repalr Is not oconomlcully feaslble or Lender's security would bo lessened, the insurance proceeds shall be epplled to the sums ':�:,��;'�'
<br /> ' � secured by thls Security Instrument, whether or not then due, with any excess pa�d to Borrowar. If Borrower abandons lhe ,
<br /> � Property, or does not answer wllhin 30 days A notica irom Lender thnt lhe Insurance carrier has o(fered to settle o clalm, then
<br /> Lender may collect the Insurance proceeds. Lender may use the proceeds to repalr or restore the Property or to pay sums
<br /> � secured by this Security Instrument, whether or not then due. The 30•day period will begfn when the notice is given. �
<br /> 1 Unless Lender end Borrower otherwise agree In writing, eny epplication ot procaeds to princlpal shall not exlend or
<br /> ; posipone the due date of the monthly peyments referred to In paragrephs 1 and 2 or change the amount ot the peyments. H
<br /> � under paragraph 21 the Property Is acqulred by Londer, Borrower's right to nny fnsurance policles and proceeds resulting trom
<br /> � damaga to the Property prlor to the ecqulsitlon shail pnss to Lender to the extent ot the sums by thls Security Instrument
<br /> � immedietely prlor to the acquisltion.
<br /> 6. Occuaancv, Preservation, Maintenance and Protection of the Property; Borrower's Loan ;
<br /> ..�...,1 el.�on withln
<br /> � AppliCatloll;�Leaseholds. Bonower shall occupy, estabiish, and use ine r=��pC�iy as 3:,���e:'� ;-""�•r-•'=-•--••=° •••- ----_•-
<br /> I sixty days afler the executlon oi this Security Instrument and shall continue to occupy the Property as Borrower's principal
<br /> I residence for al least one year efler Ihe date of occupuncy. unless Lender othervvise agrees in writing. whfch consent shall not
<br /> � be unreasonably withheld. or unless exlenuating circumstances exist which are beyond Borrower's control. Borrower shall not
<br /> -' j destroy. damage or impnir Ihe Pioperty, allow the Propeity to deteriorute. or commit wasle on the Property. Borrower shall be in
<br /> ' default il any torteiture aclion or proceeding, whettier civd or criminal. is begun Ihat in Lender's qood (aith Judgmenl could result
<br /> � in fortelture ol the Property or olhetwrs� moterially impair the lien crealed by ihis Security Instrument or Lender's sewrity�nleresl. i
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