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201402577
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Last modified
7/20/2017 11:06:26 AM
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5/1/2014 8:53:27 AM
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DEEDS
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201402577
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��14��577 <br /> �nteres�fr�m th�da�e of disbursem�n�at the Nate rate and shal�be a ab�e wi�h xnterest ' <br /> p y , , upon na��ce from Lender <br /> ta B�rrov`rer re�uesting pay�mer��. � <br /> M�rtgage Insurance. If Lender requ�red mflr�gage insurance as a condi��an af mak�n the �oan secur <br /> g ed by th�s <br /> Securi�y�ns�rument,Borrawer sha��pay�he prem�ums required to ma�ntain�he mor�gag�insurance xn effec�. �f, f�r <br /> any reason, the mor�gage �nsurance caverage required by Le�ader �apses or ceases �o be �n effect, Barrower shal� <br /> pay �he prem�ums required �o ob�axn �overage substan�ia�l� equi�alen� �o the mortgage insurance pre�ious�� �n <br /> eff�c�, at a cost substan��a�iy equxva�ent to �he cost �a Borrow�r af the m�r�gage insurance previously �n effect, <br /> from an a�te�-nate mor�gage �nsurer appr��ed by Lender. �f subs�an�iai�y equ��alent m�rtgage �nsuran�e cflverage is <br /> no� a�a�]able, Borrower shall pay �o Lender each mon�h a sum equal ta �ne-tweifth �f�1�.� yearly m�r�gag� <br /> �nsuran�e prem�um being pa�d by Borro�ve�vvhen the �nsurance coverage �apsed ar ceas�d�o be �n effec�. Lender <br /> wil� accept, use and re�a�r� these payments �.s a Iass reser�e �n ��eu of m�rtgage insurance. Loss reser�e payments <br /> may na lflnger be requ�r�d, a� tihe opt�on �f Lender, if mQr�gage insurance c�verage �in the am�un� and for the <br /> per�od�hat Lender requ�res}prv��ded by an lnsurer approved by Lender agai_n be�omes a�ai�able and is�bta�ned. <br /> Borravver shal� pay the prem�ums required�.to main�ain mor�gage insurance �n effec�, ar�o pro��d� a lass reser�e <br /> a <br /> until �he r�qu�rement far mar�gage �nsurance ends in acc�r�ance v�ri�h .any vv�-�t�en agreemertt betwe�n Barrawer <br /> and Lend er�r App��cab�e La�v.� <br /> Inspectivn. Lender or its agen� may make;reasonabXe entries upon and �nspections of�he Prope�-�y. Lender shal� <br /> �1�e Borrav�er not���at th�time�f ar pr�.or�a an inspec��nn specifying reasonable cause for�he insp�c���n. <br /> Candemnat�on. The prace�ds of any award or cla�m for damages, d�re�t or consequen��al, �n connec�ion with an <br /> y <br /> condemnat��n or o�her�aking �f any par�of the Property, or f�r con�eyan�e in lieu of candernnatifln, are hereby <br /> ass�gned and sha�l be pa�d�o Lender. <br /> _ <br /> In �he event af a�ota� �ak�ng af the Praper�y, the pr�ceeds sha�� be appl�ed ta the sums secured by �his Secur�ty <br /> �nstrumer��, �vhether or nfl� �hen due, with any e�cess pa�d t� Borrov�er. �n �he e�en� af a par��al �a�ing �f�he <br /> Pr�perty �n �h�ch �he fair marke� �ralue af�he Property �mmediate�y before the �ak�ng �s equa� to �r grea�er than <br /> �h� amount of�l�e sums secured by �his Security �nstrume�� immed�a�eXy before the taking, un�ess Borrov�er and , <br /> Lender other�vise agree in wr���ng,�he sums secured by�h�s Securi�y�ns�rumenti shai�be re�.uc�d by the amount of <br /> the proceeds mu�txp�ied by the foll�wing fra��zon: �a��he�ota� amount�f�he sums secured �mnned�ately before the <br /> �ak�ng, d��ided.by �b} �he faxr market �a�ue �f�h� ProperCy immediate�y before the taking. Any ba�an�� shaa� be <br /> paid �a Barrovver. in �he e��n� of a par��al taking flf�he Praperty in which fhe fair marke� va�ue of�he Pr�perty <br /> immed�a�ely before �he �ak�ng �s �ess �han;the amaunt �f the sums secured �mmed�a�ely befare the tak�ng, l.l.ri��55 <br /> Borrovver and Lender o�her�vise agree in �vrxt�ng ar un�ess Appiicable Law otherv�ise pra�ides, the pr�ceeds shai� <br /> be applied�o the sums secured by this Secu�-i�y Instrument vvhether or nat�he sums are then due. <br /> If the Property is abar�d�ned by F3orrower,�or�f, after notice by Le�der ta Borra�er�ha��h��ondemnor�ffers �o <br /> ma�e an award�r settle a c�a�m far darnages, Barra�ver fai�s ta respand to Lender�u��hin the m.in�murn number of <br /> days estab��shed by App�icable Lavv after the da�e the no��ce is gi�en,Lender�s autharized�a c��le�t and apply�he <br /> proceeds, a� i�s op�xan, e�ther to res�ora�ian �r repair of the Praperty ar to the sums secured by �h�s Se�urity <br /> Ins�rument,whether or nnt�hen due. <br /> � <br /> { <br /> Unless Lender and Bflrro�ver o�herw�se agr�ee �n wr�ting, any appl�cation of proceeds to pr�ncipa� sha�1 not extend <br /> or pos�p�ne �he due da�e of the payments�referred �o �n �h_e seGti�n ���led �'aym�nt t�f Prxncipa� and Interest; <br /> Prepaym�nt and Late Charges ar change:�he amount vf such paymen�s. <br /> Borrower Na� R��eased; Far�earance By I.Fender Not a �a��er. E�tension of the t�me f�r payment or <br /> madif cat�on �f amar��za��an of the sums secured by �his Security �nstrument gran�ed. by Lender�a Borrower ar <br /> any successor in in�eres� �f Borrower shal� na� �perate to reiease �he l�abi��ty of �he nr�ginal B�rrower flr <br /> Borrow�r's successors �n �n�erest. Lender sha�l na�be required to commence proceed�ngs against any successor in <br /> in�eres��r refuse��ex�end t�me for paymen�or otherw�se modify amort�za��on of�he sums secured by this Secur�ty <br /> Instrument by reason of any deman� made by the origina� Borra�er or Barrov�er's successors �n interes�. Any <br /> forbearance by L�nder �n exerc�s�ng any r�gh� or remedy sha�l no�be a waiv�r af or prec�ude the exercise of any <br /> righ�ar remedy. � <br /> Success�rs and Ass�gns I3ound; Jo�nt and S��erai Lia�i�ity; Accommnda�ion �S�gners. The cavenan�s and <br /> agreemen�s of�his Security Ins�rumen�shal�b�nd and �enef� the successors and ass�gns af Lex�der and F3orravver, <br /> sub�e�� �� the pro��si�ns of sect�an �i�led Transfer of the Praper�y or a Bene�cia� Interest �n Borr�wer. <br /> Borro�ver's covenants and agreemen�s sha�l be joi.nx and severa�.Any p�rs�n vvho�a-signs�his Securi�y�ns�z-ument <br /> but does nat execu�e �he N��e t"Ac�ommodation Signer"�: �a} is co-5lgn�n� �h�5 S�CUr�ty �nS�I"umen� anly �o <br /> m�r�gage, grant and con�ey tha�A�cornmada�i�n S�gner's interes� xn the Property und�r�he �erms of�he Securi�y <br /> Ins�rumen�; �b} �s n�t personally ob��gated�a pay the sums se�ured by�h�s Securi�y�nstrument; and�c} agrees tha� <br /> Lender and any o�her Bonra�ver may agree�o ex�end,madify, farbear or make any acc�mmadations�v�th regard�o <br /> , <br /> the terms af�his Security�nstrumen�ar�h�No�e w�thout�ha�Accammodation Sxgner's consen�. <br /> Laan Charges. �f�he I�an secured by this Security �ns�rumen� �s subject �a a Ia� wh�ch se�s max�mum laan <br /> charges, and tha��a�v�s f.nally �nCerpreted so tha�the in�eres� ar a�her lflan charges co�lec�ed ar�o be�o��ec�ed in <br /> connect�on w���� �he laan ex�eed ��e per��tted 1�mits, then: [a3 an� such loan charge shal� be reduced by �he <br /> amaun�necessary�� reduce�he charge �o tih�permit�ed �imi�s and tb� any sums a�ready colie�ted from B�rr�wer <br /> v�h��h exceeded permit�ed ��mi�s vvi�� be:refunded ta Barrower. Lender rnay ch�os� ta mal�e �h�s refund �y <br /> redu�ing �he przncipal ovved under �he No�e or by rnakin� a direc� paymen� �a Borro�ver. If a refund reduces <br /> pr�nc�pa�,the redu��ion�v���be�rea�ed as a par�ial prepaymen�withou�any prepaymen�charge under the No�e. <br /> �2004-20 X 3 Carn�laance Systems,Inc.8E�33-4C8B-2Q i 3L�.D.E 1.7 l?� <br /> Consurrier Real Estate-S�curity Instntment DL2636 � Page 3 af5 www.�vmplianGesystems.cvm <br /> ' <br /> t <br />
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