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<br /> _—.�..�L.�,_,. ,. ' :�; �p�{�y�(�i�II �he 8mpro�r�er►ts rtow or h�e�r e� on tho property.arM aD easemen�. ePAurteaances.and � -
<br /> --.sr<:;; -���._'<:. �'... '"`. t�dures now or he[esft�a part af t�e properiy.AO repfficernerits and additions sha11 afso be covered by thts 3ecur�ty Instrument f_:_,:-="�`r
<br /> --<��� �`_ �.�`r�.�. �...;� Ap at the forego i ng i s r e t e rt e d to i n ffi i s Secu r d y I n s tr u m e n t a s M e'P r o p e R y.' -;' , `�
<br /> -_'��y'.�•;�� - • BOAROWER COVENAMS that 6ortawer is fawfuvY seasd of tfie estate hereby corneyed and has the right to grant and
<br /> �.'�.�. �-: ` � - ' � convey the PrOpeRy enQ th8t the Ptopmrty is unenCUmbeted, excePt fot erf:umb�anCes of record. Bortower werrants and w� ,.,..- .
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<br /> - '-t� : ` .. Qetend generdlly the tdle to the ProF�Y BB�t ell elatrns and demands,s�;bJeC!M any encumbranc�s ot record. a;_;,o-.;'.,,
<br /> �_$,` : t�; t� : THlS SECURI7Y INSiRUMEACi combines unlfortn covenams for nationai use ar+d norwndorm covenants wftn fun�ed ' :s;
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<br /> ;� '. variatlons bY IurlsdlcNort tR consti�te a uroTorm SecurttY rt�sbument ccverfig te81 ProPertY• ' :`
<br /> ,t , �� ` =-� UNIFORM COYENANTS. Bartower ar.d L.ender covenant and agree as foROws: :
<br /> —:;��:. 1. P a y m e s�t o f P i r l n c t pal e nd Inter e s� Pr e P a y meM and Late Charges.eorrower sna�i aromat►v vay��+ �`v. .-
<br />__LL;. � - � `� due the principa!of and�terest on Ne debt evidenced bY the Note and anY P�Payment and Iats charges dae under ttie Note. ��°: �,`.:,.;
<br /> _ =�- =.r;---� 2. Funsls tor Taxes e�sd Inseua�e.�ject to a�Ar�cen�e�w or w a�,wa�er t+r�der.Bortovrer shall pay � t _�
<br /> •� to Lender on the day monthry payme�rts ere due uncter the Nate,unt7 the Note is patd in tuii,.a sum ('Funds•)tor. (a)yearly �
<br /> '�:' - � �-+�.{ taxes and assessments which ma atmin prioriry aver this 3ecur�ty InsVument as a fren on the ProPerty. (b)Y�Y �ehotd ` -"� -
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<br /> '*� � ,'� _ � PaYments or ground rents on the Praperty. if anY: (�)Y�N he�rd or property u►surance premiums: fd)YearlY flood insurance � ``-.:
<br /> �,' prem�ms.rt enY,(e)Yearry martSa9e insurance premiums.if any;and (f)any sums payabte by Borrower to Lender in accordance F �•`�
<br /> ���s-�t.: . -- - ,.VS~,c� with the provisions of paza�aph 8.in Reu ot tAe psyment ot moRgage fnsurence premtums. These items are trelled 'ESarow �[�[11f!!! -: '.'�.�:�
<br /> " :��'*:�s__ _' � `�S itgms.° Lendsr may.et any t(me.co0ect ei►d hoid Funds in an amount not to excead the maximum amount a tender for a �S
<br /> :F::Yf. . . •`� „ ,�� federalty retated moctgaga toan may requtre tor Borrowets escrow account under the federa!Reel Esffite Settlement Procedures r�
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<br /> � a � - � Act of 19T4 as arnended from tlme to tlme, f2 U.S.C.�2601 et seq• ('RESPA'�, untess anott�er law thflt appfes to the W�ds '�i
<br /> �t- sets a tesser amount. If so.Lender may. at any fune, co�ect and hotd Funds rt�an amouM nct to m�ceed the lesser amoun� r
<br /> � �t ��' Lender may estbnate the amount of Wnds due on Me basis ot corcent data$nd reasonabte esthnates of eo�end�res nt iuNre � �
<br /> `�: s Escrow Items Or otherwise fn eccordance w�th appC�cabta law.
<br /> �� >y:: � ` The Funds shaD be hetd in an lnst�don a►�hose dsposGS ere insured by a federffi 8gency,InstrumenlaGLY.or enU1y(tnCluding :
<br /> .:f#:�y_ . -- , --: -
<br /> •Y•• Lender, if Lend�is sueh en c�st$uGon)or in any Feder8l Home Loan Bank. Lender shall appy the Funds to pay the Escraw ��•�.'.�
<br /> ``�`Ri � `. ` Item9. Lender may not charpe Bonower tor holdrt�g end epprytng the Funds, annuatty enaryzing the escrow aecount,or verNymg
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<br /> s� , the Es�xow ftems, unless Lender pays 8orrowet (nterest on the Funds and appi�cable tavi perm�s Lender to make such a r
<br /> ���i � chaige. However, Lender msy requQe Borcower to p8y a one-Ume charge for an independe�K real estate tex report►n9 seivlce
<br /> ,.<::��,.,.. .. � - used by Leader br connection with this loan, untess appiicab�e taw provides othervvise. Unless an agreement is made or
<br /> app�icable Iaw requires hterest to be paid, Lender sha11 not De requhed to pay BoROVrer eny tnterest or eamfngs on Me Funds.
<br /> �1 ' Borrower and Lender may egree in vrt�ing, however, that �nterest sha0 be paid on the Funds. Lender shatl give to Bortawer, � �
<br /> •°��`•�-. ` ` without charge,an annual account(ng of the Wnds,showing credits and debits to the Funds and the purpose tor which eacA r, .
<br /> � ::�•:{' � � •`� debit to the FunQs was mada The Funds are pledged as addiNonel security far s0 sums secured by the Securityr ins0ument �
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<br /> :;'�;t_, ,.: 1!tne funds hetd by Lender w�ceed the amounta pertniKed to be held by applicable taw,Lender shail accaunt to Borrower ,
<br /> ....:,�..'`r,��" '_ ,,°;,:_: • for the excass Funds In accordance wiM the r84�Uements of eppf�abla Iaw. if the amourtl of the Funds held by Lender et any . _
<br /> � .-- ��� �• ' tbsie Is not sufficient to pay the Escrow Items when due,tsntler may so notstyr 8onower a� w�itt��y,a��d.+n �u�h raso Sar:�+�4at ^
<br /> ��:'` _• � - r.•;; shaD pay to Lendet tbe amount neces9ary to meke uD the defkiency. Borcower sha►I make up the deNeienCy in no more Man "
<br /> .. .:,{s",; ,. -•., .. twetue momhN PaYments.at I.enders snle dtseretlon.
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<br /> � ��'_�`'�, Upon payment in Nlt of all sums secured by thls Security Instrument,Lender sha11 promptiy retund to Boaower any Funds ,�
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<br /> •�`'f.:°:. - � • ' • hetd by Lender. IL under paragraph 21,Lender sha0 ecquhre or seil the Property,lender,ptiot to!he flCqu(siUon or sefe of Me ,�r:-
<br /> �' i"�'` Property, shall appty any Funds held by Lender at the ttme of acquisklon or sale as a credit against the sums secured by this � �
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<br /> ;. ``,•.' Security Instrument.
<br /> ,°'.},.,�• � . . ; , 3. Application ot Paymenta Uniess applicable law provides otherwise, all payments recei►�ed by Lendet under �
<br /> �}._`....'., :• � p�graphs 1 and 2 shall be epptted: flrst.W any prepayment charges due under the Note;Second,to amounts payabie undet
<br /> paragraph�tAird,to Nterest due;tourth,to Drficipal due;antl las�to any tate charges due under the Note.
<br /> '`� =.� � � 4. Charges; U@118. 8otrower shall pay all taxas, essessments, Cfiarges, ffnes and 6nposktons etUbuteb�e to the •
<br /> { � • � � PtopeAy which may attain priority over thLs Security InsUument,end leasehold payments or ground rents,N any. Bonower shail � � '�
<br /> � i�"��' • pay these obl�ations in the manner provided in paragraph 2,or A nat patd in that manner, Bortower shail pay them on t6ne � _
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<br /> drcectty to the person owed payment Borrower ahall promptly tumish to Lender all nottces of amourtts to be pa�d under thts
<br /> •` .,i`�s� paragraph. H Bortower makes these payments dQectty, 8ortower shail promptty tumish to Lender receipts evtdancing the
<br /> . ,'P�.: �� ' payments.
<br /> � : '� Bortower sha0 promptly discherge any Ilen whiCh hes prlority over this Securityr InsWment unless Borrower. (8}agrees in
<br /> ' i� � . � rrarting to the payment ot the abtigation secured by the Ilen m a manner acceptabte to LenQer, (b)contests�n good fafth the ..
<br /> • ""�,'- Iten by, or defends against entorcement ot the Ibn in, Iegal proceodings whtch in the Lender's apinion operate to prevent the
<br /> ` 5�` ' <. � . ' eMOrcement of the 1[en;or(c)secures lrom the hoide►01 the tlen an agreement satisfactory to Lender suborQinating the Ilen to -
<br /> ; f :=:��:_:, '• '' -
<br /> 's�•.r,. thl�Securl[y Instrument.H Lender determmo�that any paR o1 the Property is Sub�ect to a lien wh�h may attain priortty over this
<br /> � �:.f.•: . • ' Securtty tnstrument. Lender may give Bonower a noUce identityfig t�e ilen.Borcower shatl sattsty the Iien or take one or mare oi ;
<br /> , ��i �•�• � the aCtlOn9 set torth ebove within 10 days o1 tde g�ving ot notiCe. ' .
<br /> � 'f, � •• 5. Hazard or Property insurence. Bonower shall keep thA improvements nov�e�cisting or hereafter erected on the ,.. �.
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<br /> ProDerty insured agalnst loss by fue, hazards Inctuded wfthin the term "extended coverage"and eny other hamrds, inctuding
<br /> � � � . •� ftoads or Nooding,tar whlch Lender requfres msurance. This insurance snall be malntained in the amounts and tor the pertods ;
<br /> �' � �` that Lender requires. The Insurance cartter provlding the Insurance shall be chosen by Bonower subJect to Lendera apD�oval
<br /> "� • � which shall not be unreasonably withheld. I} 8onower faiis to malntain covarage described ebove, LsnQer mey, at Lenders
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<br /> �t •: , ' optlon,obtaln Coverage to protect Lenders rights in the Property m aCCOrdence wRh paragraph 7.
<br /> > ��' � � All Insurance polic�es and renewals shall be acceptable to Lender end shall Inciude a standard mortgage ttause. Lender _
<br /> - `1:=-�� �� . • � 5 shall bave the rlght to hold the po11C10s and renewais. 11 Lender requiros.Banower shell prompty give to Lender ell receipis oi
<br /> ! � � paid premiums and renewal notiCes. �n the evsnt ot los&,Bortower sh811 give prompt notiGe f0 the Insurance cerrler and Lender.
<br /> �, Lender may make proof ot los9 if not made promptly by Bonower. '
<br /> •.' � � ' Unless lentler and Borrov�er otnervilse agree m wrdmg, msurance proceeds shall be applied to restoretlon or repaV o1 the
<br /> �,'�. . , Property damaged, if the restoration or repatr is ecanom�ally feasible and Lender's security is rtot Iessened.If the restoration or ` : .
<br /> . � '� � repeh �s not eCOaom�raly feas�bte or Lender's security would be�essoned,t�e in5uranCe proceeds �half be epp��ed to the sums _
<br /> �";__ � ' � SeCUrod by this SeCUr'ty Instrument, whether or not then due, with eny exCess paid to 8orrower. J} BOrrOwer ehendons the '
<br /> �`, ' PrOperty, or daes not 8nswer within 30 days e noGCe frOm lender that the msurflnr,e Cartier hes Oft8r8tl t0 Settie a CWim,then .
<br /> ' Lendor mny ColleCt the insuranee proCaeds. Londo� moy use the proceeds t0 repeti or roStore the Property or to pay sums
<br /> � •'�'s'. ' , . , � sBCUred by this Secunty in�t�ument,whether or not tne� due. The 30•day period will bogin when the notiCa is givon. '
<br /> '•' .. � Uniess Lender and Borcower otherwise agrpe in wrrtmg, eny epp��caUOn of proceeds to princ�pal shall not extend ot .
<br /> �.�� •. ' • � postpone Iho due date of tho monthy payments rpforrod to m paragraphs 1 antl 2 or change the amount ot the paymonts. If �.
<br /> undor Darngrnph 21 the Property is aCquired by Lender, 8onower's rlght to any insuronco poBC�es and procseds �osuiting hom i
<br /> �:�`��;_ ' • { d�mage to the Property pr�or to the eCqu�SR�On Shali pess to LentlB� to ihe extent of the SumS by this SeCUtity In&trumBnt .
<br /> �•�,.:.'� . 1 �mmedi�tety prior ro the acqu�sition.
<br /> � �I 6. Occup�ncy. Preservetion, Maintenaace and Protec4ion ot the Property; Borrower's Loan ,
<br /> : !'��'' ? A�,plicatlon; LBASehO1dE. @o�rOwer Sh�l1 or_CUpy. esto0hsh, entl u5e th9 F'rOperty es tlOrtOwofs pnnr,�p8i ro5itlence Wrtmn
<br /> '�`- • � saly days uRar the execut�on of Ih�g SecurAy Instrument and sha11 continue 10 occupy tna Property as Borrov+e�'� principal
<br /> ;� ' . �- . � res�dence lor at Ieast one year arier tho date ot occupancy, uniass �ontler othervrise agrges m wriGng, wh�ch COnSOnt Sh811 not ;
<br /> '_'�,��.;�• • . ' b0 unrea5onabiy•u�thheld.or unless exte�uat�ng arcumstances ex�st which aie beyond BOrrO.ver's contr0l. BO�rOwer Shell nOt
<br /> destrny. da�nage or �mpart the property, a110+r tho Property to detBr�Orate. or commd wflSte on tha PtOperry. 60rrower Shdll be in
<br /> � Je�auit d anv forledure ar.hon or proceed:ng. �•+hother crnl or c���nal.�s begun tnet �n Lender's gootl �adn �udgment could resutt . .
<br /> ' • � m IOrfedu�C O} thp Pro08rtv Or o!horr��SEf mA[B��f1��Y �mpa��th6 �en C�OatOd ov th5 Secu�i!v �nstn�me�t or Lentlnr'S sc�currty mtOtBSt �
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