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<br /> " � ' TO[3ETHER WITH ell the Improvemonts �ow or herestter erected on the property, nnd aU easementa, appurtonnncea, nnd �:'� _ _
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<br /> ibRures now or hercnftct a purt of the property.AU�eplacumontu und addiNona shaU also be coverod by thiu 8oaurfly inatrument . • �• -� -
<br /> ., � NI ai tho farogoing is retarrad to in thia 8ecuriry Instr�ment es the •Properiy• ." .;.. "•='-
<br /> � +•j F30RROYYER C011�NAM8 that Borrower is Inwtulty selzed oi the eatate hereby conveyed and hes tha dpht to grant and �. �� � '�'
<br /> ;c, � convey the Propnrty and thet the Properry la unencumbered, exaept br encumbrenaes of record. 8or�ower wertaMs end will � _.-
<br /> ,,, detend generaliy the ride to the Properly agalnst ell claima and demands, eubject to nny encumbrences of rocord. .P . ' `� �-�.
<br /> ._4_. ; THIB 8EOURITY IN9TRUMENT wmbtnea unNortn covenanta br nattonat uae and non�unitarm covennnta wfth Iimfted � • ��^-
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<br /> � � variatlona by Judadiadon to eonaUtute e unitorm eecurlty instruraent covednp rat properry. -;-`^""'1-.''.".��=-::=- - _
<br />— • UN�FORM COVENANT3. Borrawa end Lmder eovenant and egree ae tollows: � , ,
<br /> ' •� 1. P�ym�nt of Princtp�l �nd int�nst; Prspaym�nt �nd i.�t� Charq��.Borrower ehell promptly pay when e _ ., �
<br /> due tha pdndpel of and Interoat on the debt evidenaod by the Note and any ptepsyment and Itte ohargea due undet the Note. }� • :�� �
<br /> " 2. Funds for Truces and Imurano�.8ubjeat to appiicabte lew or to a wdtten waiver by Lender,earrowa ahau pny Q1 " �
<br /> to Lander on the dny monthy paymante are due unda the Note, untU the Note la paid In ful�, e eum('Funde')tor. (�)yeedy Q' "
<br /> taxea and aeseaemente whiah rtay attaln p►iarlty over thia 8eourity Inatrument as � Ilen on the Properiy; (b)ye�dyr taeehoid `,i „ „ , y;,.
<br /> paymante or yround rente on the Property, H ony; (o)ye�ry huard or property insunnea premiums; (d)yaRdy 11ood inauranae „ -
<br /> „ premlumn,N any; (e)yeuy moRgage Inauranee premiuma,H eny;sed (Q any eums p�ytb�e by Bottower to Lcnde�In aacordanee _
<br /> wNh !ha provfaione ot ptn�ph 8, in Aeu of the p�yment ot mortgape Insunnoe prart�luma. Theae fteme are cuAad 'Eecrow • ;�
<br /> " items.' tondar msy, at any time, colleat and hold Funde in an amount not to exceed the m�ximum�mount a lender for� _�
<br /> ., . tederaly r�ated moRSege �o�n m�y requlro for 8ar►ower'a escrow aacount under tha tederat Reat Estete SatUanent Procedures , ��
<br /> Aat ot 1974 se amended hom time to Qme, 12 U.B,C.@ 2ti01 et seq. ('REf3PA'), unteae another Iaw thst appliea to the Funds • _�
<br /> aets a lesser amount. It eo, Lender m�y, at tny dme, coAeat nnd ho�d funds In an amount not to exaeed the lesser emount.
<br /> � Lerider m�y eatimnte the amount of Funde due on the basis ot current dats nnd reasonable esdmates ot expenditures of luture �}�
<br /> Eecrow Items or utherwise in acoordanRe with eppllaable law. �
<br /> The Funda shall be hetd in an Inadtudon whoea deposits are insured by a tederat egenay,instrumenteNty, or enUly{k�ciuding
<br /> .�. 1 Lender. H lender ia auah an InatkuUon) or In tny Federat Home Loan Bank. Lender shatl appty the Funds to pay the Eecrow � ' � � �r�
<br /> itema. Lender may not nharge Bo�rower tor hoiding and applying the Fundo,annuaiy analyzmg the escrow nu:ouni,or vc�r�yring � . ., =�-=" -
<br /> the Eserow Items, unless Lender pays BoROwer interost on the Funds and appiicet►Ie taw pamRs Lender to msko auah e � ,^�
<br /> aherge. However, Lettdet may requlre BoROwer to pay a ono-dme oharge tor en Independent reat estate tax repordng servlee ,.
<br /> used by Lender in aonneotlon wtth this loan, unleas applicable law provides otherwise. Untesa an agreement Is made or - �.__
<br /> appiicable taw requirea intereat to be paid, Lender shall not be requlred to pay 8ortower any Interest or eamtngs on the Funda. • � ��
<br /> 8or►owet and Lendet may agree in writing, however,that intereat shall be paid an tha Funds. Lender ahaB glvo to Borrower. ' •+�;; :
<br /> wfthout charge, an annual acaounUng o}the Funds, ehowing aedits and debHe to the Funda and the purpose for whloh each .;:�;
<br /> debk to the Funds wes made. The Funds are pledged as addldonal secudty tor aii suma secured by the Seeudry Inabument. ;�,.a+��
<br /> It the Funda held by Lender exceed the amounts pem�ltted to be held by appAcable taw, Lender shail eccount to 8orrower ,; ���''�
<br /> tor the excess Funds In eccordance with the requlrements ot applicabie Isw. If the amount ot the Funda held by lender at any �� •�°.
<br /> Ume Is not suifldent to pay the Escrow Items when due, Lender mey so notHy BoROwer in wrtUng, and,In such case Borrower r� ��'
<br /> shatl pay to Lender the amount neeessary to make up the deflciency, 8onower shalt make up the deftdeney In no more than � ;ff;:.i" -- .
<br /> tweNe monthry paymenta,at Lendera sale dscreiion. ' `�'�l•y
<br /> Upon payment in tuil ot ell sums secured by this 3ecu�iry Inatrument, Lender ahall prompUy refund to Bortower any Funds �
<br /> hetd by Lender. It,under paragraph 21, Lender ahaq acquire or sell the Properly, Lender, prior to the acqulsklon or sale of the � ti �
<br /> Property, sha0 appry any Funds heid by Lender at the Ume oi acaulslUon or sale as a credft ageinst the sums secured by this I ,
<br /> 3ecurtty�nstrument. �
<br /> 3. Applieation of Paymente. Unlesa applicab�e �aw providea otherwlse, all payments received by Lender under ; ': �
<br /> paragraphs t and 2 ahali bp apptind: flrst, to eny prepayment charges due under the Note;second,to amounts payable under j �_:•�,. �
<br /> paregreph 2;third,to intereat due;tourth,to princlpal due;and�ast,to any tate aharges due under the Note. ; ' t•��
<br /> 4. Cherge8; U9�8. Borrower shail pay aN taxes, assessments, charges, 8nes and Imposftions atGibutable to the � .��l�:,l
<br /> PiropeRy which may attsin priortty over this 3ecurfly Instrument,and Ieasehoid payments or ground renta,tt any. 8orrower s ha l i � ^;� L•t �
<br /> pay these obllgatlons in the menner provlded in paregraph 2, or H not peid in that manner, Borrower ehall pay them on dme f
<br /> dlrectiy to the person owed peyment. BoROwer shall promptty fumlah to Lender all noUcea ot amounts to be pald under this � �
<br /> ' paragraph. It Borrower makes these paymente direetiy, Bortower ahaN promptly tumish to Lender receipts evideneing the
<br /> paymenta. , '�
<br /> � I Bortower shall promptly dlscharge any Ilen whieh hea ptiority over this Security Inatrument unless Bortower. (a) agrees In �:J,��•
<br /> � I w�ittng to the payment oi the obligetlon secured by the Ilen In a manner acceptable to Lender. (b) conteata h good tafth the . " *�
<br /> Aen by, or defends againat eniorcement ot the Ilen In, Iegai proceedinga which In the lender's opinlon operate to prevent the ',
<br /> i eniorcement ot the Ilen; or(a) securea fram the holder ot the Ilen sn agreement seUsfactory to Lender subordinating the Ilen to
<br /> . "� thla Security instrument. it Lender determinna ihat any part of the PropeHy i�cubJac!to a Ilen whlch may ettain pdority ovAr this .;�
<br /> I Security Inatrument,lender mey give BoROwer a noUce IdentNying the Ilen. Bortower shall satlsiy the ilen or take one or more ot .. �
<br /> the aotlons set torth above with�n 10 days ot the giving of notice.
<br /> b. Hazard or Property Insuranoe.Bor►ower shall keep the improvements now existing or hereafter erected on the
<br /> Property Insured againat loss by tire, hazarda Included wilhin the tertn 'extanded coverage' and any other hazerds, Inc�uding ,
<br /> floods or flooding,tor whlch Lender requires Insurance. This Insurance shall be maintelned In the amounts and tor the periods I
<br /> that Lender requlres. The Insurence cartier providing the Insurance ohaN be chosen by Borrower subject to Lender's approvgl 1
<br /> which ahall not be unreasonebly wfthheld. If BoROwer fatis to melntain coverage descrlbed above, Lender may, at Lender's
<br /> optlon,obtatn coverege to protect Lender's rights In the PrapeAy In accordance with paragreph 7.
<br /> NI insurance pollcies and renewals shel be acceptebie to Lender and shall Inciude e standard mortgage clause. Lender .
<br /> shaq have the right to hoid the policies snd renawals. If Lender requlres, Bortower sheil promptly give to Lender all recelpts of
<br /> paid premiums and renewat notices. in the event of loss.Bortower shaN give prompt notice to tho insurance earrier and Lender.
<br /> ' Lender may make proo}oi loss B not made promptly by BaROwer.
<br /> � Uniess Lender and Borrower otherwise agree in w►iting, inaurence proceeds shaN be applled to reaturatlon or repek oi the
<br /> . Property damaged,I} the restoratlon or repair is ecanomlcelty feasib�e and Lender's secu�ity Is not �essened. �f the restoration or
<br /> ' repalr is not economicaily teasible or Lender's securiry would be �esaened, the Insurence proceeds shell be appiled to ihe sums
<br /> secured by thia 3ecurity inotrument. whether or not then due, with any excess pald to BoROwer. �t Bortower abandons the
<br /> Property, or does not anawer within 30 days a notice trom Lender that the insurence cartler has oHered to settte a clalm, then
<br /> Lender may coilect the inaurance 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 begin when the notice is given.
<br /> Uniess Lender end Borrower othervvise agree In writing, any eppHcatlon of proceeds to principal shell �ot extend or
<br /> • postpone the due date ot the monthiy payments relerred to In peragraphs 1 and 2 or change the emount ol the payments. If
<br /> under paregraph 21 the Property Is acqulred by lender, Bortower's �ight to eny inaurance poticles and proceeds resulting }rom
<br /> �' ' Camage to the Property pnor to tne acquisrtion anaii pass io iender io ine enieni vi ii�o aui�io `vj i���o �o�.:;���j ���so.:���:
<br /> , Immedlately prlor to the acqulsklon.
<br /> 6. Occupancy, Preoervatlon. Malntenance and Protection of the P�operty; Borrower's �oan
<br /> Apptieation; L.8a88hOId0. Bortower shell occupy, establlsh, and use the Property as Bortower's prtnclpal resldence wllhln
<br /> slxly days after the executlon oi thls Secutlly InsWment and shall contlnue to occupy the Property as Borrower's princlpal
<br /> , � ! resldence tor et least one year after the date oi occupancy, unless Lender othervvlse agrees In wHting, whlch consent shall�ot
<br /> � be unreasonabty wflhheld,or unless extenuating c{rcumstancos oxlat whlch urc bc�;ond Borro�vcis control. 8ortoxer shall not -
<br /> � + .�} ' deslroy, demage or fmpalr the Property, ellow the Property to deterlorate.or commlt waste on the Property. Bortower shall be In
<br /> detauft H any tortekure actlon or proceeding, whether clvN or erlmina�, Is begun that In Lender's good fafth Judgment could result
<br /> � ; In fortellure ot the Propetty or othenvlse matedally Impatr the Ilen treated by thls 3ecurlty tnstrument or lender's security Interest.
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