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201508333
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Last modified
7/21/2017 2:10:29 PM
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12/9/2015 2:38:18 PM
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DEEDS
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201508333
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, 2� 15�8333 <br /> lf Borrov�er pa�rs Funds to Ler�der, th� Funds sh�ll b� h�ld �n an ir�stitutivn the deposits vr <br /> a�c�unt� �f v�rh�c6� are insur�d ❑r guara����d b� a Feder�i or stat� agenc� ��r�cluding Lender if <br /> Lender is such an ir�stitut�on�. Lender shal� apply th� Funds t� �a� said taxes, assessm�nts, <br /> insurance prem�urr�� and �r�u�d rents. Ler�der may nvt charge f�r s� ���d�ng ar�d ap�ly�ng the <br /> Fur�ds, ana�y�ing said accQunt or �erify�ng and ��mp���r�g said a�s�ssnr�ents and bills, unless <br /> L�nd�r �a�s Bvrrvr�rer ir�terest an t�e Fun€�s and �p�#�cab�e la►� ��rrni�.s L�nder to rr�a�e such a <br /> �har��. Borr��rer and Le�der rr�a� agree in �vr�ti�g at the t�me vf execut�vn of th�s 5�curi�ty <br /> Ir�strum�r�t th�t i�t�re�t on th� Fund� sha�� be pa�id ta C�orr�w�r, ar�d unle�s such agre�r�ent �s <br /> ma�l� �ar a���icat��e �a�rv r�qu�res such �nter�st ta be pa�d, Ler��er sha�! n�t be r�quired t� �ay <br /> B�rrvv�rer any inter�st or earnings an the Funds. L�nder sh�l� gi�e to B�rra�n►er, ►�ithaut ch�rg�, an <br /> �nnua� accounting of th� Fu�ds shov��n� cred�ts and de�its tv the Funds and th� purp�se f�r <br /> �vh�ch eaeh deb�t to the Funds w�s mad�. T�e Funds ar� p�edged as add�tional security fvr th� <br /> s�ms secured �y th�s Security lnstrurr��nt. <br /> lf the ar��unt of the Funds he�d �y Lender� tvg�ther�r�th th� future monthly �nstailr��nts �f <br />_ FundS pay�ble pri[�r tv t�e du� dates of ta�e�r ass�ssments, insur�nce premiums and graund <br /> rents, sha�� �xc�ed th� am�unt required t� pay s�id ta�es, assess�n��ts, insurar�ce prer��ums and <br /> �rou�� r�nts as they fall �iue, su�h e�cess s�alf be� at Barrvw�r's aption, either prorr�ptly repaid <br /> �v B�rrv�+�r�r ar credi��d �� �orr�►r��r�n r�or��hi� inst��lments of Funds. ffi th� �m�ur�t�f trte Funds <br /> held t�� L�rader sha�t not b� suffcient tv pa�taxes, a��ess�nents, �r�surance premiums and �rour�d <br /> ren�ts a� they fali alu�, �arro�er shai� pay to Lend�r an� amvunt necessary ta ma�e up the <br /> tlef��iency in vne or mor� pa�ments �� Lend�r may requ�re. <br /> Up�n payment �n fu�� �f ai� sums �ecured ��th�s 5ecurity �n�um�nt, Lend�r �ha�� promptly <br /> refund �v �vrrornrer a�� Funds h�ld b� Lend�r. If un�er para�r�ph 2� her�of th� Prap�rty i� �v�d or <br /> the Pr� �rt �s at�er�nr�se ac uired b Lender Le�der s�all a � n� �ater than �mr�nec�iat�� r�vr <br /> P Y q - Y- - - ° P Y� <br /> to tMe sa�e of t�� Pr�p�rty �r �t� acqu�s�t�on hy Lender, any und� he�d �y Lend�r at the time vf <br /> app[�catian as a�red�t a a�n�t�e sur�s s�cured h thi� Secur�ty �nstrument. <br /> �. A iic�t��n �f�a m�nt�. Un��ss a licab�e iav►r r�vides othe�ise all � ments re�ei��d <br /> �P ]� �P Q r P ]� <br /> b� Len��r un�ler th� �r�d�t ��re�ment �nd p�ra�r�phs 1 and � her�of shal! �e appli�d by L�nder <br /> first �n p��m�nt af am�ur�ts pa�abf� t� L�r�d�r �y ��rr�o►�rer un�i�r para�raph � hereof, se�vnd, ���n <br /> th� �rd�a� Lend�r chooses� to an� f nan�e �har esr ath�r �harg�s and colie�tion cvsts v�r�rtgr an� <br /> �th�rd ta the r�n�� a� ba�ance under tl�e Credit� r�e�e�t. <br /> r <br /> 4. Pri�r Nt�r�t a � and ���ds of Tru�t= Ct�ar �- Lien�: Bvrr�►�er sha�� erform ail of <br /> � <br /> � <br /> Borro�►rer's obl�gationS under �r�y rr��rt�ag�, d�ec[ �f tcust �r other securr�� �gr�ement �vith a ��en <br /> v�h�ch F�a� pri�r�t� oo��r th�s �ecur�ty [n�tr�ument, �ncludi�g Borro�er s �vv�nant� t� mak� <br /> p��ments �nrn�n dUe. ��cept ta the ��t�nt tnat any su�h charg�s �r �mpositians are t� b� p�id t� <br /> Len�er und�r paragraph �r �orra�r�r sha�� p�y or caus� tv be paid aiI taxes, a��essment� and <br /> �th�r ch�rges, fin�s and impos�ti�r�s attributat�le to th� PrQperty �r�►h�ch m�� attain a prior�ty o�er <br /> this Se�ur�t� Ir��trument, and leas�hald pa}�ments or grvund rents, if an�. ��thin five �ays aft�r <br /> a�}� demand b� L�nder, Borr��rer shal� �xh�f�� tv L�nd�r rece�pts sho�n�� that all amvunts du� <br /> und�r this para�raph har�� b��n p�id �►hen due. <br /> 5. Hazard lnsurance. B�rrv�r�r �hal! ke�p the �mpr�vements r�o�r e�c�sting vr hereaf�er <br /> �r�cted vn the �'ro��rty insure� a���nst l�ss �y fr�, ha�ards ira�iuded �nr�tn�rt the term "e�tended <br /> �or�er� � " floads and su�h �ther ha��rds as Lender ma r� u�re ar�d in such amvunts and far <br /> such eriQds as Lender rr�a r� uire. Ur�f�ss L�nder �n rrvrrt�n �re uir�s other►►vise the o�ic shall <br /> P ]� Q 9 9 ► � � <br /> pr���de �nsuranc� �n a replacement cvst bas�s in an amEount n��t �ess t�ar� that nece�sary tv <br /> campiy u�it� an� c�insurartc� percent��e st�pu�ated i�n th� [�a�ard insuran�e policyx and th� <br /> am�unt afr �Qr�era�� sha�� b� no �e�s than �t1�e M��c�mum Prir�c�pa� Sa�ance p�us the fuIl amount of <br /> any iier� �rh�ch has pri�rity��er th�s 5ec�r�t� instrum�nt. <br /> The insurance carrier pr�v�din� th� insuran�� �ha�I be chvs�n b� B�rr�v�er subject t�apprflvai <br /> b� Lender; provid�d, that such �pprova[ shail nat be unreasQ�abi� �r�thheid. A�� in�ur�ance pv��c��s <br /> and r�n��►►rai� th�r�af �hal! b� in a fvrm acc��tahl� ta Lender and sha�� in�lud� a standard <br /> mvrt�age c�aus�in favvr af and �n a fvrm acc�eptabie to Lender. Lender shafi �a�e�h�right ta hold <br /> the palic�es anci r�n��al� th�reof, subj�ct tv �th� term� of any_m�rtga�e, d��d of trust �r ather <br /> ��cur�ty agreerr��rtt�ruitF� a �ien ►►+�h�ch has �riorit�av�r th�s �ec�r�ty lnstrument. <br /> [n the e�ent af I�ss, Bflrra�nr�r shall �iW� prompt nvt�c� ta the insurar�ce carri�r and Lender. <br /> Lender ma� r�aK� pr��f �f [oss �f nat r�ade prvmptl� �y Bvrrv�er. Al! �nsurance proceeds ar� <br /> hereb� assigned to L�nd�r and sha�� b� �ai� t� Lender t� tMe exte�t vf al! sums s�cured by th�� <br /> Secur��y Instrument, subj�ct ta th� ter�s �f any �n�rt��g�, d�ed of trust or security a reement <br /> e►►r�th a I i n �stirh�ch has r�vr� ov�r th�s �ecuri i nstrum�nt. lU n less Len�der a nd �arro��r <br /> � P � � <br /> �ther��se agree in rr�rrit�ng, ir��urance pr���eds sh��l be ap�Iied t� r�st�re or repa��r the Praperty, if <br /> it�s ec�n�r��cally feasit���t�d� sv. <br /> If th� Prvperty is abandor�ed a� Bvrra�er, ar if B�rrov�rer faiIs ta r�spond �o Lend�r v�ithin �4 <br /> days from t�� da�te nvtic� �s mailed �y Lencl�r tv Barro�rver that th� �nsurance �arr�er vff�r� tv <br /> sett�� a cIajrn for �nsurance b�nefits, L�nd�r is authorized tv c�11eGt arad appl� th� �nsurance <br /> proc��ds at L�nderFs vptivn �i�er t� r�storation ar repair of the Praperty or tv t�te �u�s s�cur�d <br /> by th�s 5ecurit� lnstrunnent. <br /> ENE99�-e <br />
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