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<br /> TOGETHER VVTTH all the Improvements r.ow or hereafter erected, on the propwty. and ail easements, appurtenances, and
<br /> fietures now or hermher a; parl of the property. Al repkiaements and addition's shall also be cowered by this Sec^ Instrument
<br /> AS of the foregoing is rufcrred to in this 5ecurRyr Inst'rUrnent as the 'Property.'
<br /> BORROWER COVENANTS that Borrow is taw►-.slily seized of the estate heretrr ocmnreyed and has the right to grant and
<br /> convey the r"Mp6rty and that sera Property Is mencumbered. woend for encu brartces of record. Borrower warrants and will
<br /> defend genw%Ayr film!! 'Ae to the Property against ant cW""' and d!emmub, subject to awl encumbitanices of 16=d.
<br /> THIS SEC'URn INSWUMENT combine% rrr+florm covenanter for national use and nonAM(orm covenants with k ailed
<br /> vwktiars by )u dsclicktm ro oonstflute a un~." security instrument chive" real property.
<br /> UNIFORM COVENANTS. Borrower and Lender coyerarln: and agree as follows:
<br /> 1. Payment of Principal and Interest; Prepayment and Late Charges. Sommer shall promptly pay when
<br /> due the principal of and ;Mr..vsl on the debt evidenced by the Note and any prelmrowtnt and late chanjes due under the Note.
<br /> 2, Funds for Tex r and Insurance. subject to appkW)le taw or to a written waiver by Lander. Borrower shag pay
<br /> to Lender ore the day ma r;;-hr pLymenta are due under the hate. urttl the Note Is paid In full. Fa sum ('Funds') for (a) yearly
<br /> taxes and assessments wh>Qh mxay at12M prknity over this Sec:.vlty Y,tstrument es a tiers on the Property: (b) yearly leasehold
<br /> payments or ground rents on the Property. 4 atry; (c) yearly hazard or property Insurautee prerrixns: (d) yearly flood Insurance
<br /> premk:nns" if any: (e) years.; mortgagee insurance pr x+ns, R any. aryl ff) any sneers p:yabie by Burrower to Lender in accordance
<br /> vi;h *oe pani31nns of pasri7pph 8, in ileu of the payment of modg4rA minsuramce premiums. 'these Rams are called 'Escrow
<br /> Items.' Lender may, at qty Brm collect and hold Fun's In an amourd not to exceed the fTwj rwm amount a lender for a
<br /> feederaity related mortgletge learn may require for Sommer's escrow aaaotertt under the federal Revel Estate Sellement Procedures
<br /> Ac! r,l 1074 as amended from We to time. 12 U.&C. 0 2901 ell seq. ESPA"). unross another Mew that applies to the Funds
<br /> se!• a 4-saw amount. If so. Lender may, at any slime,, corned and hard Fr rnds h an amaint rot to wzmid the tssaar amount
<br /> Lender may estknate tiller arr;--t of Funds dua an the basis of ctvwd darer ar'ev raisonabb estimates of expenditures of tub"
<br /> Esdxc- Itearnz or of tr; seria: In accordance with all; "^-Me law.
<br /> 'f'ace Funds shat 'At? t`,,M In an hst,kn whose deposits are Insured by ■ federal agency. instrumentaRy, or entity (tndudfng
<br /> Lender. 4 Lender is t.. ir° InstP tbn) or in any Federal Heine Loan Bards. Lander shah apps} the Funds to pay the Escrow
<br /> Items. Lender rwy ;ic; c; ^;rrge Boomer for hulking and applying the Funds. annually s naV&Q the escrow accounL or verftyhg
<br /> the Escrow Items. urt'. Fuser Landor pays Borrower Interest on the Funds and applicable law perms Lender to make such a
<br /> charge. HoNeve!r, Leantl r may rKluke Borrower Io pay a ones`'r ne charge for s-± Independent real estate tax reporting service
<br /> used by Lender In connecibn with Rills loan, unless applicable law provides othowlsa" Unless an agreement Is made or
<br /> applfcatxe u,•v: r uin stn interest to be paid. Lunde, shall not be regui, ed to pay Borrower !any interest or earnings on the Furnd3.
<br /> Borrower and Lendb: may agree in writing, however, that Inter I shall be paid on the FrawAs. Lender shall ghee to Borrower.
<br /> without charge. an rnnural acco-mll;ng of the Funds. showing credits and debits to the Funds ad the purpose for which each
<br /> debit to the Fund„ was made. The Funds are pte dged s additionrl security for at sums segued by the Security Instrument.
<br /> if the Funds he_d by Lencler exceed the amounts permitted to be t•erld by appk=ble hr*. Lender shah account to Borrower
<br /> for the excess Funds In accordance with fmi requirements of applicable law. if the amount of the Funds head by Lender at any
<br /> time is not sufficient tcpay the Escrow Item when due. Lender may so notify Borrower in wrftbg, and. in such case Borrower
<br /> shall pay to Lender the arrtoutnt necessary to make up the def ct ncy, Borrower shaft malice up the delkiertry in nn more than
<br /> !wee monthly paym-r.m. at. Lender's sole discretion.
<br /> Upon payment It full of a sums secured by this Security tnstrtunenL Lender shag promptly refund to Borrower any Funds
<br /> held by Lender. lg. mkragmph 21, Lender shah acquire or sell the Property. Lender., prior to the aequlsition or sale of the
<br /> Property, shell apply any Funds held 6y Lender at then time of acquisition or sale.as a credit against use starts secured ::-r :ft%
<br /> Security Instrument.
<br /> 3. Application of Payments. Uniecx dirplicasble taw provides otherwise, all payments received by ie:ider under
<br /> pantgraHhs t and 2 shag be aarpied: Cost, to any pnpw/menI chargers due under the Note: second, to amounts 1=r1rb4e under
<br /> ;,ar2graph 2; thud, to interest L fourth, to principal due: and last, to any isle charges due under tt'e Note.
<br /> 4. Charges; Liens. Borrower shah pay all taxes, assessments. charges, titres and imixejwns atNbut•able to the
<br /> Properly which may attain priority ever this Security Instrument. and leasehold payments or ground rents, It any. Borrower shalt
<br /> pay these obfig;arkxts In the manner provided in paragraph 2. of If not paid In that manner. Borrower shah pay them on time
<br /> dcectly to the person owed paaymer^"t Borr mer shall promptly furnish to Lender all notices of amounts to be paid under this
<br /> paragraph: If Borrower makes ihese paaymernitm dke!sly. Borrower shat prp!:^tpdy furnish to Lender receipts evidencing the
<br /> payments.
<br /> Borrower shall pmaiptfy+ discharge any len whicim has priority over this Security Instrument unless Borrower. (a) agrees in
<br /> writ'sng to the payfaent o! the oLligation secured by the then in a manner acceptable to Lender. (b) contests In good faith the
<br /> Gen by, or defends against enforcement o* the Lien In, legal proceedings which in the Lender's optn±nn operate to prevent the
<br /> enforcement of the fen: or (c) secures frorrr the holder of the lure an agreement sat'sfartory to Lander suoordlnatlng the hen to
<br /> this Security lrstrument It Lene detexm*ws that any part of the Property is subW-1 to a kn which may attain prkartty over this
<br /> Security Instrument Lender may give Borrower a notice loentilyhtg the teen. Sommer slxufl satisfy the pen or take one or more of
<br /> the actions set forth above within 10 mays of file giving of notice.
<br /> 5. Hazard or Property Insurance. Sommer shalt keep the Improvements now eAsting or hereafter erected on the
<br /> Property srAured against lass by fire, hazards included w `hln Vie term 'exdeanded coverage' and any other hazards. inducting
<br /> ;floods or flooding, for which Lender requires insurance. This insurance dish be maintained in the amounts and for the periods
<br /> that Lei de: requires. The Insurance carrier providing the Insurance shall be chosen by Somr er subject to Lender's approval
<br /> which shall not be unmisonably withheld- It Borrower tails to maintain coverage described aabovc Lender may. at Lender's
<br /> option: obtain overage to prote=ct Leender's rights In the Property in accordance with paragraph 7.
<br /> AN insurance policies and renewals shalt be acceptable to Lender and sha* Include a standard mortgage disuse. Lender
<br /> shall have the right to hold the policies and renewals. If Lendr requires, Borrower ahah arorrptly give to Lender all rec*ts of
<br /> paid premiums and renewal notices, in the erveam' of loss, Borrower steal give proapt nctlce to the insurance carrier and Lender.
<br /> Lender 7nay make proof % loss if not made prone ptly by Borrower.
<br /> Unless Lender and Brrorrer otherwise agree e~ ws3tirtg, sssutarrs pros slob be ago teed to restoration or repair of the
<br /> Property danaged• if the restoration or repair is mmuxnicaly, feasible and Le nder"s sec%vity is not lesserted. of !.=ere restoration or
<br /> repair Is not econoricagy feasible or Lender's se=,& would be tessernecL the insure.•tce premeds shat: be a;nA-d to the sums
<br /> secured by this Secxurly InstrumernL whether or not then We. with any excess paid to Borrower. If Borrower abandons the
<br /> Property, or dces not answer within 30 days a notice from Lender that ',hc Itsurwce c~t'ar has offered to settler a cbim, then
<br /> Lender may collect the insurance proceeds" Lender may use the proceeds to repair or restore the Property or to pay sums
<br /> secured by this Security Instnutetenl, whether or not these due. The 30-day plod w3ii begin when the notice is given.
<br /> Unless Lender and Borrower otherwise agree in writing. aanyr application 6" proceeds to principal shah rcpt extend or
<br /> postpone the due date of '.`e mortlhiy payments re Bred to it paragraphs 1 and 2 or change the aarnount of the gwym>ents. if
<br /> ender paragraph 21 the Property is acquired by Lender. Borowx 's right to any insurance policies and proceeds re;uitin j Uxun
<br /> damage to the Proper prior to the acquisNon sha 5 pass to Lender to the extent of the sums by this Security Instrument
<br /> Inrnec6atety prior is the acquisition.
<br /> 6. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan
<br /> Application; L easeholdt:. Borrower sl-.ae ecciepyr, establish" and use the Property as 6omnwer's principa residence within
<br /> sixty days after the execution of this Security k:shwr"d and shah continue to occupy the Property as Sorrower s pdrnck. W
<br /> residence for at least ore year after the date of occupancy/, unless Lender otherwise agrees In wrRkmg, ;-,amseco shah ncA
<br /> be un:ea-z:mabty weahhe!d, or unless extenuating cirmir races exist which are beyond Borrower's cartiroL Sommer sham not
<br /> destrcy, damage or krapair ere Property" aahaw the Property to detefi rate, err m atxua2 waste an the Property. Sonvvmr shAl be in
<br /> def--A :t any todedure aclrwn or proceeding: whether ciid or crimenaL is begun that in Lender's good faith Judgment could mule
<br /> in fortelure of the Property or otherwise materiall?y ilr hair the ten created by this Security Insburnent or Lender's security knerat
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