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<br /> - � !' 70(3EIHEH WITH eN the improvetrients now or hete.tter croctod on the property,end nll easements, eppurtonances, and �_±��: �
<br /> � • fl%IUfOM1 now or hereatter� paA o1 the praperty.Ail replacements and edditions shall also bs covered by thls Secudry Inetrument. �-_,-._-
<br /> • NI o}the fompoing Is roferred to In thls Secudty Inetrument aa the 'PropeRy.' ��^:Y�.
<br /> BORROWER COVENANTS thnt Bortower Is lawlully soized ot ihe estete hereby conveyed and has the right to grent and ;'_R_�_.
<br /> 2 convey the Property and lhat the Property Is unencumberod, oxcept tor encumbrencos of record. Barrower wavents and wlll '• ,;:..
<br /> do}end generelly lhe Iltlo lo the Property egalnat ull claims and demends,sub�oct to nny encumbrances ot record.
<br /> THIS SEL'URITY INSTRUMENT combines unilorm covenants lor netlonal use end �wn•unftonn covenanis with Iindtedy ,x .
<br /> varlatlone by Jurledictlon to connillute e unlform security Instrument coverinc� real property. ' : ,•.
<br /> UNIFORM COYENANTS. Bonawer �nd Lender covenent end epree sa lollows: _;,-,,.
<br /> 1. Psymont of Prinolp�l end Intanst; Pnp�ym�nt end L�t� Charges. Borrower sheU promplly pay when� �;;,---_
<br /> due the principAl 01 and Intereat on the debt evldenced by lhe Note and any prepayment and late chnrges due under the Note. ,,;;��
<br /> � . I 2. Funds for T�x�s �nd Inaurana�. Sub�ect to eppllcable law or to e wrlllen walver by Lender. Bonower shall peyM " -
<br /> , to Londor on tho day monthly payments ure duo under the Nme untll the Note Is peld In lull. e swn ("Funds") for. (a) yearly� ��`,`��
<br /> taxes end essessmente whlch may ettaln pdodty over thls Securlty Inatrument es a Ilen on the Property, (b) yearly lea3ehold(� -
<br /> +�"'"�'� � peymenta or ground rents on the Property. If any; (c) yearty hazard or properly Insurence premlums; (d) yeady tlood Inaurance F► "�
<br /> '��-���"°'�` ' premlums,If any; (e) yearly moftgage Insuranco premluma.If any; end (�any sums payable by Borrower to Lender In accordance� .���
<br /> with the provlelons of paragraph B, In Ileu o1 the payment o1 martpage insurance premiums. These items are called 'Escrow -
<br /> � Items.' Lender may, at any tlme, collect and hold Funds In an amount not to exceed tho meximum amount a �ender tor a
<br /> federally related moRgage loan may requlre for Bortower's escrow account under Ihe federel Raal Fstate Settlement Procudures _
<br /> Act of 1874 es amended hom time to tlme, 12 U.S.C.�2601 el seq. ('RESPA"), unless another lew that epplies to the Funds
<br /> sets e lesaer amount. II so, Lender may, at any tlme, collect end hald FundS In an emount not to exceed the losser amount. �
<br /> Lender mey ostimete the amount of I�unds due on the beals of current dnta and reasonable estlmates of expendltures of future b_
<br /> Escrow Items or othetwise in eccordance wilh appllcable law.
<br /> The Funda shall be held In an Institution whoae deposita ere Insured by e federal agency, Instrumentaliry, or entity(Including
<br /> ;; Lender, N Lender Is such an Instltutlon)or In any Federal Home Losn Bank. Lender shall apply the Funds to pey the Escrow
<br /> Items. Lender may not charge Borrower lor holding end applying the Funds,annuelly enalyzing the ascrow account, or verllying
<br /> ; � the Escrow Items, unless Lender peys Borrower Interest on the Funds and epplicable law pertnits Lender to make such a
<br /> charge. Howaver, Lender may requlre Borrower to pay u one�tlme charge lor an Independent real estate tax repoAing service
<br /> � used by Lender In connection with thls loen, unless applicable law p�ovides olhetwise. Unlesss an agreament is made or
<br /> �l applicabie law requlrea Interest to ba petd, Lender shail not be requlred to pay Borrower any interest or eamings on the Funds.
<br /> • Borrower and Lender may agree in writing, however, thet interest shell be pald on the Funds. Lender shall glve to Borrower.
<br /> wlthout charge, an annual accounting oi the Funds, showing credits and debits to tha Funds and the purpose for whlch each
<br /> �.� debit to the Funds waa mado. The Funds are pledged as additlonal secu�ity for all suma secured by the Securiry Instrument.
<br /> If the Funds held by Lender exceEd the emounte permitted to be held by appllcable lew, Lender shell account to Bortower
<br /> ••.� for the excess Funds In accordance with the requlrements of applicable law. Ii the amount ot the�unds held by Lender at any
<br /> time Is not sutflclent to pay the Escrow Items when due, Lender may so notlty Borrower In writing, and, In such caee Bortower
<br /> , shall pay to l.ender the amount necessary to make up the deilclency. Borrower ahell make up the deficlenay in no more than
<br /> tweNe monthly paymenta,at Lender's sole discrotion.
<br /> Upon payment In full of all sums secured by this Security Instrument,Lender chaq promptly refund to Borrower eny Funds
<br /> held by Lender. If, under paregreph 21, Lender sholl acqulre or sell the Property,Lender, prior to the acqulsltion or sale of the
<br /> Property, ehall apply any Funds held by Lender at the time of acqulsitlon or sale as a credit agalnst the sums secured by thls
<br /> - -� - Socudty Instrument.
<br /> 3. Appltcatlon of Paymente. Unless applicable law providea othenvlse, all payments receNed by Lender under
<br /> paragraphs 1 end 2 shab be epplled: flrst,to any prepayment cherges due under the Note; second, to amounte payable under
<br /> paregreph 2; ihlyd, to Interest due;fourth, to p�incfpal due;and letat, to eny late chargea due under the Note.
<br />- 4. Che�gOS; UOns. Borrower shall pay all tdces, assessments, cherges, ihes end Impositlons ettributable to the
<br /> '�! , ,' Property which may atteln pdodty over thls 3ecuriry Instrument, and leasehold paymenls or ground rents, H any. Borrow2r�fiall -
<br /> T pay these obllgatlons in the manner provlded In paragraph 2, or If not peld In that manner, Borrower shall pay them on time
<br /> directly to the person owed payment. Bortower shell promptly fumish to Lender all notices of amounts tu be paid under thls
<br /> parsgraph. If Borrower makes these payments directly, Borrower shall promptty tumish to Lender recelpts evldencing the
<br /> payments.
<br /> Borrower shali promptly disaharge any Ilen whlch has priorlty over this Secudty Instrument unless Botrower: (a) agrees In
<br /> . writing to the payment of the obllgatlon secured by the Ilen In a manner acceptable to Lender, (b) conteats in good fslth the
<br />- Ilen by, or defends ageinst enlorcement of tho Ilen in, legai proceedinga whlch In the Lender's opinion operate to prevent the
<br />• enforcement of the Ilen;or (c) secures(rom the holder oi the Iien an agreement satislactory to Lender subordineUng the Ilen to
<br /> ' .' this Security Instrument.li Lender detcNmines that eny pert of the Property Is subJect to a Ilen whlch mny attaln prinrity over thls
<br />- 3ecurity Instrument, Lender may give Bortower a notico Identllying tha Ilen,Bortower shall antisty the Ilen or take one or more of
<br />� the actions set torth above wlthln 10 days ot the glving of notice.
<br />_ 6. Hazard or P�operty Insurance. Borrower shall keep the improvemenis now existing or hereatter erected on the
<br /> � Property Insured agelnst loss by iire, hazards Included withln the tertn 'extended coverage" and any other hezerda, Including
<br /> - iloods or flooding, for which Lender�equlres Insurence. Thls Insurance ehall be malntelned In the emounts and for the perlods
<br /> '4-I that Lender requires. The insuranca carrEer provlding the lnauranco shall be chosen by Borrower aubJect to Lender's approval _
<br /> whlch shall not be unreasonably withheld. Ii Borrower falls to mnlntaln coverage descdbed above, Lender may, at Lender's
<br /> . �. optlon, obtaln covorage to protect Lender's rights In the Property In accordance with paragraph 7. -
<br /> All Insurance poliGes and renewats shall be acceptable to Lender and shell include a stendard mortgage ciause. Lender __
<br /> -; ' shall have the tight to hold the pollcles and renewals. If Lender requlres,Borrower shall promptly give to Lender all recelpts oi _
<br /> _ paid premlums end renewal notices. In the event of loss, Borrower shall gNe prompt notice to the Insurence cartler and Lender. F'�
<br /> Lender may make prooi oi loss if not made promptly by Borrower. �l;--
<br /> Unless Lender and Bortower othenvise agree In wdUng, Insurance procoeds shell bv epplfed to rostoretion or repair of the ��:;;=_
<br />- Property demaged, If the restoratlon or repelr is economlcally feasible and Lender's security is not lessened. If the restoration or �;_„
<br /> repalr Is not economlcally teasible or Lender's securtty would ba lessened,ihe Insurance proceeds shall be epplled to the sums Ey�.=�:
<br /> secured by this Security Instrument, whether or not then due, wlth eny excess pald to Borrower. If Bortower abandons the -' -
<br /> _ Property, or does not enswer wlthin 30 days e notice irom Lender that the !nsurence carrier has oflered to settle a claim, then �+ `
<br /> _ Lender may collect the Insurence proceeds. Lender moy uae the proceedes to repelr or restore the Property or to pay sums i,
<br /> � secured by thls Securlty Instrument,whether or not then due. The 30•day perlod will begln when the notico is gNen.
<br /> - Unless Lender and Borrower otherwise agree in wrlting, any application oi proceeds to principal shau not extend or .
<br /> - postpone the ���� �1ete of the monthty payments referred ta in paregraphs 1 and 2 or change the emount of the payments. Ii
<br /> = under paragreph 21 the Property Is acqulred by Lender, Borrower's right to any insurance policies and proceeds resulting irom
<br /> damage to the Properry prlor to the ecqulsltion shall pass to Lender to the extent of ihe sums by this Security Instrument
<br /> immedlately prior to the aequisRlon.
<br /> 6. Ocaupancy, Preaervation, Maintenance and Nrotectlon of the Property; Borrower's Loen
<br /> Annlieation: Leaseholds. Borrower shall occupY, establish. end use the Properry es Bortower's pdncfpel resldence within
<br /> sfxty dnys after the erecutlon oi thfs Secudty Instrument and shall conlinue to occupy the Property as Borrowers principel
<br /> _ resldence for nt least one year etter the date o1 occupancy, unloss Lender olherwise egrees In writing, which consent shall not �
<br /> be unreasonably withheld, or unless extenuating circumstences exlst which are boyond Borrower's conirol. Borrower shall not
<br /> - deslroy, demage or impeir the Property, allow the Property to deteriorate,or commit weste on the Properly. Borrower shall be in I
<br /> detnult I(nny forfellure action or proceeding, whether civll or criminal. fs begun ihat in Lender's good(alth judgment could resull
<br /> in forfeiture ot the Property or otherwise materially Impair ihe lien crealed by this Securily Instrument or Lender's security interest. j
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