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<br /> TO(3ETFIER WI7H nll tho Improvcmcnta noar or hac�ftcr ercctetl on tho properiy, ond nil eaoemcnto, nppurtcnnncas, end • "�
<br /> fl�Aurca now on c�rc�ftcr n�nd of tho propcity.All rcplaccmcnts nnd cddllonn�f�all Nsa bo oovcrcd by this 9ccutiry InatrumcN. -�
<br /> RII o}tho torepolnp Is rofcrtcd lu l� thlo Sccuriy InntrumcnY ao t ha 'Prope R y.' , ,.
<br /> BORROWER COVENANT9 thnt Borrowcr Is In�v�ulty ocficd o}tho ostnta hereby conveyad and hne the dpht to prant nnd � .�;..,
<br /> eonvey tho PropeAy nnd that the Property Is unencumbeted, oxcept tor ancumbrencos o1 record. Borrawer warrante ond e+lll �� -_--
<br /> dofend generally the tilla to tho Property apalnat nll cislme end demands,eubJec4 to any�icumbrences of record. �0 _r__
<br /> ' �� THI9 SECURITY IN9iAUMCNT comDlnos uni(arm covenanl� tor natlonnl uaa Qnd non•unifortn covonantc� with Ilmitcd �.;�_
<br /> �� vellatlons by Jurfadlctlo�to canntitute e unifortn aacurity Instrumant coverfng real properry. , ,
<br /> UNIFORM COVENANTS. Borrowcr nnd Lender covenant end aflree as tollowa: -�,•,�
<br /> � � 1. Faymen2 oSr Frl�+alpal ar+¢i 1i�4�re�2; C�eo�w}�Pu101i4 A[7d L..�O CNP.�l�39. Bovowar ahAil prompUy pay whr.n � -
<br /> � due the principal 01 and Interest on the dobt evldanced by ihe Nota nnd uny prepayment and lete cherpes dua under the Not�y � �_
<br /> ?. Funda for Tences end InsureRCS. SubJect ta spplicable law or[o e wdtton walver by Lender. Barrower ahell ;�,�.
<br /> to Lender on the day monthry puyrtiente nre due under t3sa Note, untfl the Noto Is pald In h�Il, e oum ('Funda') for (a)yonry �
<br /> tuxos and esaessmenta which may nttaln prlority over t�:'s Socurtty Instrumait ee e�en on tha PPOpeRy: (b; yeRrry leaaehold �h �
<br /> p¢ymente or ground renta on the Property, if any; (c)yQerty hezsrd or propeRy Innurance premlume; (d) ya�rty Road Ineurnnce � iMr
<br /> premluma, if sny; (e)yeurly mortgefle inauranco premlumn, II eny;nnd (Q sny sume pey�bte by Borrower to Lender In accordanco �
<br /> with the provislana o4 paragmph B, In lleu o1 the p9yment of mortgape Ineurnnco premlume. These Iteme nre cilied 'Eecrow �,
<br /> Items.' Lender mey, at any time, collect end hold funds In en emount not to excead tl�e m�xlmum emount a tende►tor a �• �A
<br /> fede�tly re!ated martpape loan mey requlra lor Borrowcr's escrow account under the leder�l Rc�l Eatate 8ettlement Proo�dure� �.
<br /> Act ot 1874 as emendad tram�ImR to time, 12 U.9.C. @ 280t et aeq. ('REBPA'), unlese �nother I�w th�l applloa to lhe Funde I
<br /> • sete a lesaer amount. II uo.Lender may, at nny tlma,collect end hold Funde In �n emounl not tu excaed ihe lea�er xmount. ,
<br /> � Lender mny eatimr.to the emount oi Funde d�e an the baele of curtent date�nd re�eon�ble aatlre�tes o1 oxpenditure� ot luture , .,
<br /> Eecrow Itema or otherwlsa In�ccordence wilh epplicabla inw.
<br /> The Funde sheil be hold qi An Institutlon whoaa depoalle era Innured by e tedenl�prncy, InetiumentuAty, or ant!ty(Including
<br /> Lender, B Lsndur I� cuch Gn Instftutlony or In eny FodnrAl Hame Loan Benk. Lcnda ohell eppy the Funds to psy lhe Eecraw , �
<br /> Items. Lendor may not oharpe Bortower tor holdinp and epptying Iho Furide, ennualty enelytlnp tho escrow account, ar vedtying
<br /> tho Escrow Itoms, unle�s Lender peys Bortower Intorest on lhe Fundo end eppllahle Isw permlta Lender to mako nuah e ,�.
<br /> chargo, Howo�rer, Lender mey requlro Bortower to pay n ono-timo charqo tor en Indepandcnf renl estate ta:c repoRing sarvlce , �._
<br /> used by Londer In conneatlon with this loan, unlass epplicable law provides othenviao. Unloss an aqreement Im m�de or . ti�:�
<br /> eppllcabin law requlres Interest to be pald, Lender shall not be roqulred to pay Bonower eny Interest or eamings on the Funds. ;,�.—
<br /> Borrower and Lunder may �pree Ir writing, howover, that intereot shall be pnid on tho Funda. Lender ehell piv�to Bortov�or, "!:
<br /> without charge, en annuel accounting of the Funds, showing eradlte and de6lts to the Funda and the purpose for whlch each , �s,;
<br /> debit to the Funds was made. The Funds ere pledged ns oddltlonal secudty for nll sums socured by the Securily Instrument. �e
<br /> Ii the Fundo held by Lender exceed the amounts pertnitted to be held by applicabte law, Lsnder shall account to Borrower
<br /> for the excese Funds In accordance with the requlremente of appllcahle Inw. If the emount o1 the Funds held by Lender et any � �
<br /> tlme Is not sufticlent ta pay the Eacraw Items when due, Lender may so notity Bortower In wrtting,and, In such case Borrower , 1 �' ''^-
<br /> ehall pay to Lender tho emount necessary to make up the deficiency. Borrower shali make up tho dofldency In no more then j r�--.
<br /> twnlvn monlhN uaymonts.at Lender's sole discretlon. � .'__`,p/"�____.
<br /> Upon peyment in tull of ell sume secured by thia Securlty Inatrument, Lender snau promptiy reiund iv ou�i�+�m o='r`L"� - �� .
<br /> held by Lendor, It, under paregreph 21, lender shall ecqulre or sell the Property, Lender,prlor to tho acqulsftlon or sale oi the ,
<br /> Property, ahall apply eny Funds held by Lender nt tho time of acqulsklon or ealo na a credit egalnat the suma secured by thls ,
<br /> 3ecuriry Instrument. ,
<br /> 3. Applieatlon of Payments. Unless appucable law provldes othenvise, all payments recelved by Lender under
<br /> psrnflrophs 1 and 2 shall bo epplled: flrst,to any prepayment charges duo under the Note; second, to emounts peyable under I
<br /> paregroph 2;thlyd,to Interest due;fourth,to principel due;und Inst,to nny Inte charges due under the Note. i
<br /> 4. ChB�ges; Llens. Bortower shall pay all taxes, usaessmento, cherpes, ftnes and Imposltlons attributable to tho
<br /> Properiy whlch may arialn pdority over thie Security Inatniment, nnd leusehold payments or ground rente, It eny. Bortower shell � •
<br /> pay these obllgaUons fn the manner provldod In parugraph 2, or H not pald In thet manner, Borrower shall pay them on time ,;,;
<br /> dlrectiy to the pereon uvrod payment. Bortower ahall promptty tumish to LQnder ull notices of amounta to be patd under thla 4,r, : � i .
<br /> pnrapreph. IT Bortower makes these payments dlrectly, Bortower shall promptty iumish to Lender rocelpts evldencing the �
<br /> payments. ,,��
<br /> Borrower shall promptty dlscharge any Ilen which has priority over this Securily Instrument unlesa Bortower. (a) agrees In ��
<br /> w�ting to tho pa�ment ol tho obllgatlon secured by tho Ilon In a mannor accepteble to Lender, (b) conteats In good faith the � ,,,t�
<br /> Iien by, or defon�s ngnlnst enforcement of tho Ilen In, Ieg41 procoedings whlch In the Lender's opinlon operate to prevent tho : � -
<br /> � enforcement a}the Ilen; or (o)secures irom tha holder ot the Ilen en agreemont satlafnctory to Lender subordinating the Ilen to
<br /> ihis 3ecurlty Inatrument. If Lender determines thnt any part of the Proporty Is subJect to a Uen whlch may attaln p�iority over this .
<br /> Secudty IneWment, Lender may give Borrower a notico ldentlfying tho Ilon. Borrower shall satlsiy the Ilen or take one or more of f�_
<br /> tho actlona aet forth ebove wRiiln 10 days ot the gNing oi notice. • � .
<br /> S. Hazard Or i�fOpePty 1�euf8t1C8. Bortower shall koop tho Improvements now exlstinfl or hereafter erectQd on the .3 ..
<br /> Property insured egainst losa by firo, hozards Included with{n the tertn 'extended coverage' and any other hazerda, Inctuding f�.. '.'
<br /> tloode or floodinp,tor whlch Lender requlres Insurance. fils Insuranco shall be malntelned In the amounts nnd tor tho perlods ,�. :�
<br /> thut Lender roqulros. Tho Inaurance cartfer provlding the insurnnce shall ba chosen by BoROwer subJect to Lender's epprovel
<br /> which ehall not be unreasonably withhaid. If Bortower islis to malntain covernqe described above, Lendor may, et Lender's ��°• ; �'
<br /> � optlon,obtaln coverafle to protec4 Lender's riphts In ihe Propeny In accordanco with puragmph 7. `'.
<br /> All Inauranco poVctos and renownis ahall bo accoptable to Lender and shnll Includo e standerd mortoage cluuse. Londer
<br /> ahall hove tho right to hoid the policles and renowals, II Lender requlres, Borrower shall prompUy glvo to Londer all roaeipts of ;��
<br /> pnld premlums and renmval notices. In the event ot loss, Bortower shall givn prompt notice to tho Insurance currier and Lender. ,
<br /> Lendor may meko proof of losa It not mndo promptly by Borrower. �
<br /> Unless Lender and Bortower otharwlae agree In v�riting, Inaurance procoede shall bo epplled to restoratlon or repelr of the �
<br /> Proporty damugod, If iho ro9toratlon or ropalr Is aconomlcnlly feaElblo und Lender's secudry Is not lessenod. I(the rastoration or .
<br /> rapalr Is not economicalty ieuolbla or Lender's sacurfry would be leasoned,tha Insumnce proceedo uhall bo npplled to the sums t
<br /> � eocurod by this Socurity Instn�ment. �vhother or not then duo, wlth any excese peld to Borrower. Ii Borrower ahandons tha
<br /> � Property, or doos not answer wlthin 30 days e notico irom Lender thut tho Insumnco cnrtier hes offerod to sottio a clalm, then �
<br /> Lander mny colloct tho inauranca proceedo. Lender may uso tho procoods to repalr or rostoro tho PropeAy or to pay sums ,
<br /> socurod by thls 3acudry Inetrument,whothar or not then due. Tha 30-duy period will bagln when tho notico fs gNen.
<br /> Unloss Lendor ancf Bortowor othorv+lae ugroo In writing, nny nppllcution ol proceedo to princlpni shall not extend or
<br /> po3tpono tho duo dete of tho monthly puyments roterrad to In parngrapha 1 and 2 or chango tho umount of the pnymonts. If , v
<br /> under pnrt�praph 21 iho Property Is ncqulrod by lender, Borrower'a right to sny Insurance policles and procaeds rosultlna (rom y
<br /> _.. ,,_...._... .., .tie n.....e.e., .,a,,. *� �no ar.milaltinn �hnu oass to Lender to tho extent of the sums by thls Secudty Instrument
<br /> -.. --._. '_ �•w.U.. ... ...� ..��...� . __ ...' _'�"_'_ • '� .
<br /> . Immedluteiy p�ior to the aequlsltlon.
<br /> � 6. Occupancy� Preavrvn4lon, Matntenance nnd Protection of the Proporty; Borrawer's Loan ,
<br /> Application; Leaseholds. Borrowor shall occupy, ostehlish, nnd use the Property as Borrower'o princtpul resldence withln
<br /> slxty days ntter tho oxecutlon qf this Socurity Instrument and shall cnntinuo to occupy tho Proparty as Borrower's princlpal
<br /> resldenca tor nt Ienst ona yeur aRer the dnte ot occupuncy, unloss Londer othenvlso ngroas In v+riting, which aonsent shnll not
<br /> ,� bo unrensonably withheld, or unless oxtonuatlng clrcumslences exlat wiilch nro boyond Bortower'a control. BoROwer shall not ,
<br /> • destroy, dnmago or Impal�tho Proparty, allow thn Property to dotQ►iornta, or commft wnato on tho Property. Borrowor shnll be in
<br /> dofault(i any torfelturo actlon or proceeding, whother clvil or criminal, Is begun thut In Lendor'a good 1nRh Judpment could rosult
<br /> � In foAElturo of tho Property or�thervviso materlally Impnir tho Ilen creatod by this SecuHty Instrvmant or Lender's 3ecurfty Interost.
<br /> ' P� c20f5 �/� �
<br /> ' � F7�1G.LM0(10/94) 9
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