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<br /> ` � �'• " '}''' � TOtiETHER WITH aU the Improvements now ar hereaRer ereated on tha propery, and aU easements,appurtenancea,and �
<br /> ' � Oxlures now or hereaftor a part oi tho properly.Atl replacemenle end additions shuil also be covered by this 8ecuriry Instrument. � — —
<br /> \ " Jx • AII ol tho loropaing Is roterted to in this Secudry Inswmont as Ihe 'Property.' �•� °="``=�--
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<br /> . • 80AROWF.R COVENANTB that Borrower is inwlulhy soi�ed ot tho eatate hereby conveyed and hua the dght to granl and _. ._ ..,,�
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<br /> _ �� '? eonvey the Property end thet tMe PropeRy Ia unencumbered,exaapt tor encumbranaea of reaord. Borcower wa�rants and wiil � ,;
<br /> _ ' detend genemiy the tide to !he Properry agalnst aii claims end demanda,subJect to any encumbranoos of record, • •� ''`°°
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<br /> TH�9 3ECURITY INSTFiUMHNT eombinea unYorm eovenento tor naqonnl use nnd non•unilortn eovenento with �Imited � '.�
<br /> • � ,° variaUone by judadiodon to aanetltute a unitom�securiry InaWment covedng�ent properiy. � • ;, "
<br /> j ��`" "��• UNIFORM COVENANT3. Bortowerand Lendercovenant end egree as toilows: � •
<br />- * t. Payment ot P�1�alpai and Interest; P�epayment and Lete Charges.9ortower shall promptiy pay when �
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<br /> due the dnefpal of and lnterest on the debt evidenced by the Note and any prepeyment and tate oharges due under the Note,
<br /> 2. �unds for Taxea and t�su�anee. SubJect to appticebte law or to a w�ltten waHer by Lender, poROwer ehaN pay �
<br /> ^ � to Lender on tho day monthy paymenls are due under the Note. unttl the Note Is paid in fuli, a sum("Funds')for. (a) yearty
<br /> � taxes and essessments whieh may attaln prlority wer tMs Securtry instrument as a Ilen on the PropeAy; (b) yea►ty Ieasehoid •
<br /> �� payments or ground renta on ths f'roperty, if any; (e) yeariy hezard or propetty insu►ance premNims; (d) yearly flood Insurence
<br /> premiuma,ii any: (e) yearty moRgege Insurance pr�mlums,N�ny;and (�any sums payable by Bortower to Lender in eecordence
<br /> ' with the provisions ol paragrepfi 8. In Iieu ot the payment of martgage insurance premlums. Theae Ilems ere calted 'Eacrow
<br /> items.' Lender may,al e�y timB, coGect and hold Funds in an amount not to exeeed the maximum umount a lender lor a .
<br /> , � lederaly retated moRgege loan may requlre for Bortower'a esuow aacount under the federa�Real Estate Setttement Procedures
<br /> Aet of 1974 as amended trom Ume to tkne, 12 U.S.C.� 2801 et aeq. ('RE9PA'), untesa another lew that epplies to the Funds
<br /> r ., seta a lesaer emount. If so,Lender may, at any IMne. edlect and hold Punda in an amount�ot to exceed the lesser amount.
<br /> � Lender may estimate the emount ot Funds due on iha baels of current data and reasonabie estlmetoa ot expenditures of tuture
<br /> Escrow Items or othe�wise in accordence wrih applicab�e lew.
<br /> " Tha Funds shall be hetd in an Institution whose depoelta are insured by a tederal agency.insirumentality, or eniity pneludfng
<br /> . �� Lender, if Lender is auch en Instltution)or In eny Federal Home Loan 8ank. Lender shall appiy the Funds to pey the Esuow
<br /> _;___..,_ ..._� ... .. Itema lendor mny not ehe�qe Bonowcr(or holding onci dpptying the Funde, annually anulyiing the esuow eceount, or vedtying ,
<br /> the Escrow Itoms, unlosa lendctt pnye 8orrowor h�oresl on ihe Funds and appucoblo Inw pertnits Lendor lo ��wke euch a ����� � -- "
<br /> cht�rpo. Howover. Londor mtry raqulro 8orrawor to pay o ono�timo chargo for nn Indapendonl roal uetate tax ropoAing serviee � .
<br /> usod by Londer in eannoatan wflh Ihia lonn, unto�s npp�ieob�o low providos olhonnlse. Uniosa nn ugreoment fs made or �
<br /> " opplicab�o�ow roqulrae Intorast to bo pnld, Lrndor aholl not Oo required to pey Borrowm nny Intorost ar eamtngs on thA Funde. , , • �
<br /> ., �� Borrawcr and Londor moy aproo In wdllnfl, howover. ihot Interost ehell be pald on tho Funda. Lenda ahetl give �0 BOrtowet. :�3
<br /> •. without chergo,an annuat atcountfnp of tho Funda, showing crvdlla end deblts to tho Funda and tho purpose tor which each
<br /> dobit to tho Funds wae mode. The Funds aro ptodged es addlllonei aecurity for elt suma securod 6y the Security Inatrument. � �_;
<br /> ., �- If the Funda hoid by Londor exceed tho amounts permftted to be heid by appllcabie �ew. Lender shaN aaeount to Bonower ?:
<br /> ,, •• lor ihe oxcesa funds in accord�nce wllh ihe requlremente ot appAcebie�aw. �t the amount of the Funds heid by Lender at eny =
<br /> time is not suNicient to pay 1he Eserc,w Items when due,Lender may so notiy BoROwer in writing, and, In such case Borrower
<br /> - shatl pay to Lender tha emwnt neceseary to make up the deftelency. BoROwer sheti make up the deflcienay In no more than , -
<br /> , tweNe monthty peymenta,et Lendeis sote discrelion. ` �"'"
<br /> _—_--===-=_ = tlpon ps�nent Ut ls�ll �f al! s�lma aacured by lhls Seeurity Instrument, lender shall promptty refund to Bortower any Funds � ��
<br /> � �� held by Lender. Ii;under paragreph 21. Lender sheY acqulro or seli the Property. Lender,prbr lo the aequlsitton or sete ot the
<br /> P�operty, sheli appty eny Funds held by Lender et Ihe tlme oi ecqulsitton or sele as a credit egelnst the sums secured by this
<br /> Secudty�nstnrment. ��^
<br /> 3. Application Of Payme�tS. Untoss epplicabte law provides othernrise. ait peyments recelved by Lender under �':,�
<br /> ' � pa�agraphs 1 and 2 shall be applled: first.to any prapayment cherges due under the Note:second,to amounts payable under . .;�
<br /> paragraph 2:third,to Interesl due; toudh. to prinofpel due;and last,to any iete charges due under the Note. �� �-..�
<br /> • 4. Cha�ges; Uene� Borrower shall pay nll taxes, assessmenta, charges, Mes and Imposftions attdbutabie to the .;�:•_
<br /> , Property which may attain pdority over lhis Securtry Inslrwnent.and leasehold payments or pround rents, if a�y. 8orrower ahei► ..
<br /> pay these ob�igations In the manner provlded in paragra p h 2, or it not paid In that manner, Bortower sheil pay them on Ume , ,_
<br /> directty to lhe person owed payment. Bottower shall promply fumish to Lender ali aot�es ot emounts to bo pald under this '�-
<br /> paragreph. 11 Bortower makes these payments duectly. Borrower shaq promptty fumish to Lender receipts ev(denctng the
<br /> paymenls. ,
<br /> Bortower shall promptty discharge any lien which has pdority over ihis Security Instrument uniess 8orrower: (a)agrees En _
<br /> w�iting to the payment ol the obligation secured by She wen h a manner aeceptebie to Lender: (b) cantests In good faith the �
<br /> �ien by, or defends egalnst entorcement of the lien in, Iegal proceedings whkh in tho Lender's optnbn operate to prevent the wr
<br /> entoreement ot the Iien: or (c) secures Irom the holder oi ihe Iien an agreement satisfactory to Lender subordineting the�ien to
<br /> thts Security Instrument. It Lender determines that eny pad o1 the Property Is sub)ect to a Iien widch may altain priorlty over this
<br /> SeCUtity Instrument. LenCnr may c�ive 6orroriar n nutiar iJer•titying 1he ticn. Bortowcr shal!sa0sty the Iien or tAka o�p or more ot 1 . _•.-._
<br /> the actlons set forth above wlthin 10 days ot tho geing d notice.
<br /> S. Hazard or Property tnsu�ance. 8orrower shaN keep the Improvements now exislhg or hereaRer erected on the
<br /> Property Insured agalnst loss by fre, hazards IneNded wllhln the tertn 'extended coverage' and any other hazards, Inctudtng
<br /> floods or flooding,tor whlch Lender requlres Insurance. This Insurance shall be maintained In the amoUnts and tor the periods ,
<br /> that lender requlres. The Insurance wrrier provlding the insurance shell be choso� by Barrower subject to Lendet's approval ,
<br /> whleh shall �ot be unreasonebly withhetd. It Bortower fais to mnlntatn coverege described ebuve, lender may, at Lender's l ,
<br /> optlon,obtain coverage to prolect Lender's�ghts in th�Property In accordance with paragraph 7. � ,
<br /> All Insurance policies and renewels shall be acc�ptabte to Lender and shall inctude a standard mortgage clause. I.ender i
<br /> shall have the right to hotd Ihe poticles and renavals. R Lender requires. 8ortewer shall prompty gNe to Lender a11 reaelpts of I
<br /> pald premlums and renewal notices. In the event of loss.Borrower shall give prompt notice to the insurance eartier and Lender.
<br /> Lender may make proof ot toss if not made promptly by 8orrower. '
<br /> Untess Lender nnd Bortower othcyvrise agree�n wrilmg,insurance proceeds shall be applied to restoration or repair ol the �
<br /> Property damaged. il Ihe restoraUon ar repair�s econornw�ty feas�ble and lender's secun�y is not Iessened. H lhe restoratlon or
<br /> repeir is not econom�cally teasible or Lender'S Secunty would be tessened. the msurance proceeds shall be applied to the sums
<br /> secured by this Security Instrument, whether or not then due. with any excess pa�d to 8oirower. tt Borrower abandons the
<br /> Property. or does not answer wah�n 90 days a nalice ��an lendcr that the msurance camer has oHered to settle a c�alm. Ihen
<br /> lender may couect the Insurance proceeds. lenuer may use the proceeCS to repalr or restore the Property or to pay sums
<br /> secured by thls Securlty Instrument, whether or not then due. The 30-day perfod witl beptn whe�the notice is given.
<br /> Un�ess Lender and Barower othervvlse agree in wnting. any app�ication ot proceeds to principa� shall not extend or
<br /> , ,� • postpone !he due date of the monthly payments referted to in paragraphs t and 2 or change Ihe amount ot the payments. II
<br /> • � undRr parngraph 21 the P►opeAy is acquired by lender. Borrower's nght to any insurance poticies and proeeeds resulting Irom
<br /> � d3mage to tfie PropcAy p��or to the acquisd�on shall pass to lender to the eatent ol the sums by this Seuinty Instrument
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<br /> 6. Occupancy. Preservatlon, Maintenance and Protection of the P�ope�ty; Borrower's Loan
<br /> 1 AppUcetion; �.@83@hOldB. Borrow�r sha11 occupy establ�sh. and usr ihe PropeAy as Borrower's pnn�ipal residence wdhin
<br /> s�xty days after the execuuon of th�s Securdy tnstrument and shall contmue to occupy the Prope�ty as Borcower's p�ne�pat
<br /> •• � tesldCnte (or at Ieast one year afler lhe date ot xcupancy.unless Lender olherw�se agrees �n writing. whlch eonsent shall not
<br /> I be unreasonabty withhMd, or unless e.tenuaUng c�rcumslanees ex�st which are beyond Borrower's control 8orrower 5ha11 not
<br /> `� destrpy, damage or imp3ir tho Property. ailow the Properry to dete�lorate. or commil waste on thc Property. Bortower shall be m
<br /> default(f uny Io�teltur� nction ar proceeding. whelher cn�or trlm�nal. is begun thal in Lenaer's good faith judgment could result
<br /> in torteiture of the Property or othenvlse matenally unpatr the lien created by thls Secu�ity Irtstniment or�ender's security Interest
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