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<br /> ��, „ TAQETFIER WITH atl the improvements now or hereefter erected on tha prope�ty, and all easemente, appudenanoea, and � ,•_ �.•�;;Q.s",:-�_:.__,.
<br /> • tbctures now or hereatter a peA ot the praperiy.{UI�epiacemcnta and uddlGoos shnll atso bv covorad by thta 8acurHy Inetrument , .
<br /> � � All ot ths foregotng Is refertod to tn thts 3ecudry lnstrument ae the'Properry.' .p __ __ __
<br /> �, ° � ' • BORROVYER COYENANT3 that BoROwer Ia Iawtully selzeQ ot ihe esWte hereby canveyad and hns tho dght to grunt and 0 �• °
<br /> �" aonvey the Properry md thnt the Property is unencumbered,except tor encumbranees of record. Borrower wartants and wUl �
<br /> detend�eneniy the UGe to tha Propaty�gainet aU c�aims end demmds,eubjeat to any encumbrenaea ot reeord. � , •.
<br /> ?' THIS S�CURITY IN8IRUMENT aombinoa unNortn covenanta tor national use and non•unKortn covenants wl►h Nmhed
<br /> �� �t: • v�uleGone try Ju�ladlotion to aonatNote e unkorm eeeurity InBtrument aoverhg real Property. � , . � ._ _= ---
<br /> . •� UNIFORM COVENANTB. Bo�ower and Lender eovenent and apree as fotlows: --
<br /> 1. Paym�nt of P�tnoipat and Interes� Prspayinent and t.ate Charges.9oROwer ahan prompty t,ay when , _ =
<br /> ' du0 the Qdnaipal of and fnteroat on the debt evideneed by tbe Note end any prepayment and lete oharges due under the Note. N _ e:•
<br /> • " �, 2. Funds for Truces and Insurance.3ubJeat to eppliaable law ar to a wdtten wahrer by Lender, BoROwer ehaN pay ,
<br /> � . to Lender on tha day monthly paymenta nre due under tha Note,unUl the Note is paid in tutl,a sum ('Funds') for. (a) yea►1y ,, . _
<br /> "' , ` taxes and asseaemenis whloh may attein pdorlly dver this 9eaudly InsUUment as a Ilen on the Property; (b) yearly Ieasehoid • , ___
<br /> paymenta or ground rents on the Properiy,if eny; (o)yearty hazeM or properfy fnaurence premk�me; (�yeady flood insuranae
<br /> ' • , premiums,it nny;(e) yearly mortgaAe insurence premlume, N eny; and (�any sums payabte by BoROwer to Lender tn scaordance � ..r
<br /> with the provisions ot paragraph 8, in tleu of the paymont ot mortgage Insurance premiums. These ftems are ca�led •Eecrow o
<br /> � �� �� items.' Lender may, at any Ume, colleat and hoid Funds h an amount not to exoeed the maximum amount a tender tor a -
<br /> • fede�aily related mortgage Ioan may require tor BoROwer's esaow account under the federai Reel Estate 8ettlement Procedures ., .•5�
<br /> Aat ot 187A as amended from Ume to Ume,12 U.S.C.�2801 et aeq. ('RE3PA'), unlesa another Iaw that appNes to the Funds • �'�
<br /> sets a leaser amount. It eo, Lender may,at any time, cdlect and hold Funds in an amount not to exceed the leaser amount. �`,�`
<br /> Len der may es Uma te t he om ou n t o f F u n d e d u e o n t h e b a e i s o t c u rt e n t d a t a and reasonabte esdmates ot expendltures of tuture 'x��
<br /> • Escrow itema or othervvise in acaordenoe wfth appllcabie law. ��
<br /> The Funds shalt be held in an InstttuUon whose deposlts are insured by a federai agenoy,inetrumentelily,or entity pnc�uding . '�
<br /> ' �� �� Lender, M Lender ta such an instttuUon) or in eny Federai Home Loan Bank. Lender shall apply tho Punds to psy the Eeorow • •°-!�,•
<br /> - •� ltemn. lender may nol charge 8oirower for fioiding and eppyh� tha Funds, annually analyzing the escraw acaount, or verlMnp E .:_ __ _
<br /> . ' the Escrow Itema, unlesa Lender pays Borrower interest on the Funds and appllcebie law permfts Lender to make suoh a • _
<br /> • eherge. However, Lender may requlre Borrower to pay a one�time charge tor an independent real eatete tex reporting service , �
<br /> uaed by Lender in conneoUon wNh this toen, unlesa applieable law providea othenNlse. Unlesa an agreement le made ar � �
<br /> appllcabie iaw requtrea intereat to be peid,Lender shatl not be requked to pay Bortower any Intereat or oamings on the Funds. � "
<br /> Borrower and Lender may agree in writing, however, that inte�eat shali be paid on the Funda. Lender shall give to Bortower, j' Q=
<br /> wfthout aharge, en ennuat acaounUng of the Funde, showing credl� and debtts to the Funds and the purpoae tor whlah each .
<br /> debft to the Funds wes made. The Funds are piedged as ad9tionei securlty for al�sume secured by the 9ecurity Instrument. �i �,�
<br /> M the Funds held by Lender exceed the amounts permitted to be held by appiicable iaw, Lende►shall account to Borrower � � ' `�—=
<br /> for the exceas Funds in anaordanae wtth the requUements of appYcebie Iaw.Ii the amount ot the Funds hetd by Lender et any I � ,3:"s_
<br /> time ia not suffident to pay the Escrow Items when due, Lender may so notity 9orrower in w�tthg,and, In suoh case BoROwer •-' �-
<br /> shell pay to Lender the amount�ecessary to make up the defldenay. Borrower shel� make up the defldenoy in no more than � ,,f.�y�'—-
<br /> fxelve monthly payrr�enls.at lender's soie diecretlon. � ---=�--- -
<br /> ` Upon payment in tul►of ail suma secured by this 3ew�fly Inslrument. Lender shall promptty retund to Borrower any Funda f .. •`
<br /> � heid by lender. fl,�.under paragraph 21,Lender shell acquiroor seN the Properly, Lender, prlor to the acquisMlon or sele ot the � I
<br /> Property,shail appiy eny Funda heid by Lender at the tfine of acquleidon or sate as a aedft sgalnat the sums seaured by thls � �
<br /> 3ecurfly InsWment. • : '
<br /> 3. Appiieation Of Payme�ts. Unleas appNceble law provldes otherwise, all payments received by Lender under
<br /> paragraphs 1 and 2 shall be applled: flret,to any prepayment eherges due under the Note; second,to amounts payabte under ' ,:�: �
<br /> paragraph 2;thlyd,io Interest due;fourth,to pdncipai dua;und tuat,ta any late chorges due under the Note. � _ --�1 .
<br /> 4. ChBtgee; LienB. 8or►ower ahali pay all taxes, asseasments, chorgea, flnes and ImposiUons ait�lbutable to tfie i �'�,��
<br /> Property whtah mey attatn prioiily over thls Security Inatrument, and Ieasehold payments or ground rents,If eny. Borrower ahaU ; F'���
<br /> pay these obllgalions in the manner provided in paragraph 2, or M not paid in that manner, BoROwer ehail pay them on Gme , -' ,�
<br /> dkectly to the person owed peyment. 6ortower ahaA promplly (umish to Lender ali notices af amounts to be paid under this , '.
<br /> paragraph. It Bortower makes theae paymenta direetly, Barower shali promptly tumish to Lender recelpts evidenc(ng the '
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<br /> � peymente. � � �
<br /> d Bortower shaN promptly dlacharge any Iten which has pbrity ovar this Securtty Inatrument unieas Bortower. (a)agrees tn `,o�`•�
<br /> wriUng to the payment ot the obllgation eecured by the Iien In a manner acceptabie to Lender, (b)contesta In good tafth the ,_
<br /> ' Ilen by, or detends againat eniorcement of the Ilen In, legal proceedings which In the Lender'a opinion operete to prevent the
<br /> entorcement of the Ilen; or(o) secures hom the ho�der oi the Ilen an egreement satlatactory to Lender subordinating the Nen to ' �
<br /> • this Securiry�nstrument. It Lender determinea that eny pert of the Property is subJect to a Iien which mey attein pdorHy over thia '
<br /> I 3ecurity Instrument, Lender mey gNe Borrower a notice identlying the Ilen. Bonower shall satlaty the Ilen or take one or more ot ; ,
<br /> the ections set torth above wfthln 10 days ot the giving of noYce. �
<br /> j 5. Flazerd or P�operty Inaurance. Borrower shali keep the Improvements now exleting or herQafter erected on the
<br /> Ptopetty Inaured agminst �oas by flro, haxards Inciuded within the term 'extended coverage' and any other hazards,including -
<br /> flooda or flooding,for whlah Lender requires insuranee. This insurence shaA be melntelned in the amounts and for the periods �
<br /> that Lender tequires. The inaurance cartier provlding the Ineurance shaU be chosen by Borrower aubject to Lender's approval
<br /> which shail not be unreasonabty withhetd, If Bortower te0s to malntaln coverage desc�ibed above. Lender may, at Lender's
<br /> opUon, obteln coverage to protect Lender s righta in tha Ptopeity In accordance with paragraph 7. '
<br /> All insurance pollcies and renewais ahall be ecceptabie to lender and shali inolude a standard mortgege ctauae. Lender
<br /> ahaB have the �ight to hold the poWcies and renewats, It Lender requlrea, 8ortower ahall promptly give to Lender all recelpts ot
<br /> paid premlums end renewal nodces. U the event ot toas,Barower sheA gNe prompt notice to the inaurance cartier end Lender,
<br /> , Lender may meke proof of�oss N not made promptly by Borrawer.
<br /> Unless Lender and BoROwer othetwlse egreo In wrtting,hsurance proceeds ohail be applied to restoratlon or repair at the
<br /> t Property damaged, if the restoretlon or repalr Is economically teaslble end Lender's securlty is not �essened. If the restoratbn or
<br /> � repair is not economieaily teaslble w Lender's security wouid be lessened, the Insurance proceeds ahalt be applled to the sums
<br /> secured by this Security instrument, whether or not then due, wqh any excess pald to 8ortower. If BoROwer abandons the
<br /> � Propetty, or does not answer withln 30 days a notice from lender that the Insurance cartier hes o(lered to serile a claim,then
<br /> Lender may collect lhe Insurance proceeds. Lender may use the proceeda to repair or restore the Property or to pay sums
<br /> � secured by this Secudty Instrument,whether or not then due. The 30-day period wlll begin when the notice ia glven. ,
<br /> Unless Lender and Borrower othervvlse agree in writing, any applicatlon oi proceeds to pdncipal shell �ot extend or
<br /> � po�tpone the due dele of the monthly peyments reterted to in peragrephs 1 and 2 or chenge the emount of the payments. It �
<br /> � under paragreph 21 the Property Is acqulred by lender. Bortowers �tght to any Inaurance policles end proceeds resuldng irom
<br /> . ._ ,1e......e �.. �I.e p...nw.• n.inr 1n Ihn nrn�dclfinn uhnil nnco In 1 on�ar tn 1ha wftfant Of 1h0 4UT5 bV 1h�S SecuriN Instrument
<br /> '� � ..�...�p� .� ..... .._r"y r.._. ._ ...' __�_'.""" "'_" r'__ " _' _' . . ' _
<br /> � Immediately prior to the ecqulskion.
<br /> 6. Occupancy, Preservatton� Maintenance and Protection of the Property; Borrower's Loan
<br /> � i Apptieatton; L98B9hO1d8. 8ortower shail occupy, estabqsh,end use the Property as Bortower's pdncipe►residence wfthin
<br /> slxty days after the execution ot this Securiry Instrument and shell continue to occupy the Property es Bortower's p�incipat
<br /> . i . ' I residence tor at�east one year after the date ot occupancy,unleas lender otherwiae agrees in writing, which consent ahell not
<br /> be unreasonably wfthhe�d,or uniess extenuating circumstanaea exlat which are beyond Barrower's controi, Borrower shall not
<br /> ��� destroy,damage or Impalr the Property, eAow the Property to detedorate. or commk waste on the Property. BoROwer shall be in
<br /> detauR fl any torlelture ectlon or proceeding, whether clvil or crlminet, is begun that in Lender's good tafth Judgment could reault
<br /> In tortefture ot the Property or otherwise materieily Impelr the kn created by thls Secu�iry�natrument or Lender's security interest.
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