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<br /> �� . TOCETHER Wl'PIi oll tho Improvcmcnts noci or I�acaftcr crastcd on tho properiy, and all c�acmcnta, r.Qpurtcnnnr,ca, cnd
<br /> �� , , f�cturc� no�•� nn c�rc�ficr o pasi ot tho propc7fy.GLI rcpl�ecr�i�nt�and add;tlons ahcU clao ba covcrcd by thls&ccury IncVument. , ;
<br /> R1 al tho lorc�o,n{�I�rcicrrcd qa In ihl� Sccu�ry Inat�v�ocnt oo li�a'Froperi�r.'
<br /> D0:7l�OL1li:fi GOVrNANT�Ihat Bor�otivcr Is t�ti•duE,y aclzcd al tho cZtato 7ccrcP�y convcycd nnd haa iho �ipht to prcnt and _,
<br /> •• conv6y the Propertyr nnd thc4 tho Properry is u�encu¢r,bered, excep! for encumbrancas ot record. Borto►ver viarranta and �vlll ;�
<br /> detend generdfy the titlo to the Property epninet e11 Galmo end demende, aubJeet to eny encuRbrances o1 record. .;'�'"
<br /> YMIJ SECURITY IN9'iAUMENT combinee uniform covenanta tor netlonal use end non-unitorm covertsnte with Iin�tcd � �--
<br /> eedatlona by Judsdictlon to coneUfute a unifom eocudty Inatrument c�vennp raal preperty. �� .��
<br /> ' UNIFORM COVENA��TS. Borrower and LendH coventnt and�prea aa(oGowa: -'�'"
<br /> 1. P�yme�it of Prinr.IRal and Intereat; Prepaymen� and l.�te Cherties. aonov,cr ohan promptry pay when •�T_
<br /> " due Ihe Prinolpal oi end Intereat an tho debt ovidencod by the fVote n�d any prrpaymmi and late charpes duo und��the Nota. �.,�
<br /> 2. Fundi for T�x�� ��d Insuranes. SubJect to appWcable law or to a wrftten waNer by Lenda,BaROwer sheli pay -_
<br /> to Lend�r on tNe dey monihy payments aro due under ihe Noto,untll tha Note le pnld In full, e eum ('Fund�') for: (a) yearty �;F��
<br /> taxoa and asaeeamente whlch may attsln pdodty over this Secudry Instrument as a Ilen on the Prupedyr; (b) yeadp lansahold ,:;�.
<br /> payments or ground rents on tha Froperiy, il nny; (a)yearlyr haiard or propary Insurnnce premlums; (d)yearty 11ood Insueance .,�-,
<br /> premlums,If any; (e)yearty mortAage Insuranco premlums,If any;end (Q any sums peynblo by Borrowar to l.ender In accordence ,. _
<br /> witle the provlslone o1 pnragraph e, In Ileu o}lhe payment oi mortgaga inauranca premiums. These ItEms are called 'Eacrow '�
<br /> Itema." Lender may, et any Un�e, collect and hold funds In an amount no9 to excecd tho m�clmum amormt a lender (or e _
<br /> tedernlly related mortgege loan may requlro tor Borrower'e escrow accaunt under the federel Real Estate SetUement Proceduros �•:�
<br /> Act of 1874 ea amended irom Ume to time,12 U.S.C. @ 2601 et seq. ('RESPA•), unlesa another law thet eppUes to thm �und� ; "i�
<br /> aete a lesser amount. II oo, lender may,at sny time, collact end hold Funds in an emount not to exceed the losser amount. � �
<br /> Lender mey esUmete the amount of Funds due on ihe ba31s o1 current date and reasoneble esUmete3 ot axpendltures o1 tulure " 4
<br /> Eecrow Items or otherwlse In nccordance wlth applica6le law. "
<br /> Tho Funds shall be heid tn an instltutlon whose deposite ere Insured by a tederei ngoncy,InatrumentaNry, or entity pnduding �s�,
<br /> Lender, 11 Lender Is auch nn inatitutlon) or In eny Federal Home Loan Bnnk Lender ehall appry the Funda ta pay the Escrow � . , ' ,�j
<br /> � itema. L�ndE�r may not charfle Borrower tor hold�ng and upprytng tho Funda,nnnu�fy srtalycing tho csexorr eccoant, or vaHying � ,�•-•�
<br /> � the Escrow Itema, unlass Leader peys BoROwer Interast on tho Funds nnd appllcable law permite Londer to make euch e � •••�.�_
<br /> charge. However, Lender may requlro Bortower to pay n one-time chargu for an Independent real estate tax reporting aetvlce . ,,,Q,�;e.;•=—
<br /> used by Lendor In connec9on with thls lasn, unless npplicabla law providea othenvise. Unlesa an agreement Is made or •.4 �-
<br /> eppllcabla law requlres Interest to be pald, Lender shall not be requtred to pey Borrower any intarest or eamings on the Funds. •�. :; -
<br /> Bortower and Lender may egree in wrtNng, however. that Intereet shall ba paid on the funds. Lender sheil give to Bortower, " .
<br /> without charga, un ennuol aceounllng af the Funds, showing credit3 and debits to the Funds and the purposa tor which each �, m_-.
<br /> ° debft to the Funds was made. The Funds are pledged as additlonal aecurity for eIl sums secured by the Secudty Inatrument. ,.;"'�::� _
<br /> If the Funds held by Lender excaesf the amount3 pertni;ted to be held by appilcuble law, Lender shall account to sorcower �"�-�
<br /> br iho excesa funds in nccordance with tho requirements of appllcable law.Ii the amount of tho Funds held by Lenda at any � �`r��.��=.;=--
<br /> time Is not sufflclert to pqy the Esaow Items when dun, Lender may ao nolity BoROwer in writlng,and,In 6uch aase Bortower :��� ,_
<br /> ahe8 pay to Lender the amount necessary to mnke up the daHclency. Borrowar ehall maka up the defldency In no mare than
<br /> „
<br /> tweNe monthry payments,at Lender'e soto disaeNon. `-_�-
<br /> i i ..�.,o.�,tant t� {��n n1 Au aums secured by thla 3ecudty Inatrument. Lestder ahell promAUy refund to Borrower any Fund� ��. � '�
<br /> -- - ---– --. - _g_ �_,.. . .-�.�� _
<br /> held by Lender. I}, under paragraph 21, Lender ahall acquire or sell the Property, Lender, prior to the acqulskion or snle of the
<br /> Property, shall apply any Funds held by Lender at the time of acqulsition or sale es a credit ngninst the sums secured by thls �� ,
<br /> Sacurity Instrument.
<br /> 3. Applicatian of Payments. Unless applicable [aw provides otherwlse, aU payments recelved by Lender under 'E?�%�' r
<br /> , paragrapha 1 and 2 shall be spplied: tirst, to any prepayment charges due under tho Note: second, to amounta payable under �• .
<br /> paragraph 2;third,to Interest due;fou�th,to principnl due;and last, to nny Iete chargas due under Ihu Note. '�'"�` ' `
<br /> ' 4. Chargos; Uana. Bortowor ahali p�y nl! texes, assessmente, chargos, fines end fmpositiona ettributnble to the 1�
<br /> • Property which may attaln priodly over thls Soc�eriry In�trument, snd Ieasehold payments or ground rente,if any. Borrower shell .•:1�..;H,,• '�
<br /> pay these abligatlons In tho manner provided in pt��agraph 2, or Ii not pald in that menner, Borrower ehell pay them on tlme ( ' .:.
<br /> • dkec2ly to the person owed payrnent. Borrower shali promptly fum(sh to Lender aq noUces of amounts to ba pafd under thls " ��
<br /> peragraph. I} Borrower makes those payments directty, BoROwer shall prornptly tumish to Lender recelpts ovldencing thv -'`•� .
<br /> � paymente, � ..�
<br /> Bonower shall promptly discharge eny ilen whlch has piloriry over thls Seoudty Instrument unless Bortower: (a) ac�rees In a
<br /> writ�g to the payment o1 the obligatlon secured by the Ilen in o manner acceptttble to Lender, (b) cantests In good tnith tho �,'�___.
<br /> Ilen by, or defende egainst enlorcement ot the ilen In, legal proccedings which In the Lender'e opinion operate to prevent the `��:'•"-+:,'—
<br /> eniorcement of the Iien; or(c)secures from tho holder of tho Ilen an agreement satisfactory to Lender subordinaUng the Ilen to �
<br /> thl3 Secudty fnstrument.If Lender detertnines thut eny part of the Property Is subJect to a Iien which may attain priority over thls - •: � '
<br /> Secutity Instrument. Lender mey give Bortower a notice IdentiTyfng the Ilen.Bortower ahall satisty the Ilen or tske one or more o1 � ��+a ..
<br /> the acUans set forth a6ovm wNhln 10 days of the gMng of notice. ` !�'�
<br /> 5. Hazard or Property Inaurence. Borrower ahall keep the fmprovements now exlsUng ar hereafter erected on the I,.. ' !j �'�
<br /> � Properly Insured egalnet loss by firo, hazards Included wfthin the term 'extended coverage' and any other hazards, Including `; . r'�.�_
<br /> tioods or flooding,for whlcA Lender requlres Insurence. Thls insuranco shall bo malntalned In the amounts and tur the periods � ��. :•_
<br /> • thet Lender roqulres. Tho Insumnco cartler providing the Insurenco sheli be chosen by Borrower nubJa��t to Lendet'e epproval �;�'`�
<br /> , which shall not bo unreasonably withhNd. If Bonower teils to maintain coverage descdbed ebove, Lender may, at Lender's I ''�►• r,..,r
<br /> , opUon, ohtaln coverage to protoct Lender's rights In tho Propaty In accordance with pnragraph 7. i z�,;,^
<br /> All Insurance policles and renewsis ahall bo ecceptable to Lender end shal! Indude a standard mortgage claueo. Lender ; •
<br /> ' shnll have the dght to hotd tho polictes und ronewals. If Lender requires,Boirov�er shall promptly give to Lender all recelpts of wT
<br /> pald premlums nnd renowal notices. In ihe Event of loss, 8onower shall givo prompt notice to the Insurance cartier end l.ender. �
<br /> Lender may make proof of loss 11 not mado prompty by Bortower. '
<br /> Unloss Lender nnd Borrnwer othenviso agreo In wdUng, Insuranco proceeds shutl ba epplied to restoratton or repalr of the � •_ �
<br /> „ , . Property damaged, iT Yhe restomUon or repair Is economicelty feasible and Lender's secur(ty Is not lessened. If tho restoretion or ,,
<br /> repslr is not aconomicully tensiblo or Lender's security would bo lessened,tho insurenco proceods shnll be epplied to tho sums �
<br /> �� sacurod bN thls Socurity InsVument, whether or not then dua, wlth any excess pald to Bortower. If Borrower ubandons tho �
<br /> Property,or doos not answer wfthln 30 days a noUce irom Lender that thn Insurenco eartter has ottered to sorilo n clalm, then
<br /> " Lender m9y couect tho Insurence proceads. Lender may uoe the proceade to repalr or restore the Property or to pay sumo �
<br /> socured by tlils Socurlty Insteument,whether or not then due. The 30tiay period wl!I begin when tho notico Is given.
<br /> Unloss Lendor nnd Borrower otherwiso ngreo In wdting, any appllcattan of proceeds to pdndpnl shall not oxtend or r. '
<br /> poslpone tho due dnto of iha monthty poymenta reterred to In pnragmphs 1 and 2 or chango tho umount ot tho pnyment�. If
<br /> under pamgrnph 21 the Property Is acquired by lender, Borrowor 3 iight to nny insuranco policles and procoods rasulting trom `
<br /> dsmago to tho Property pdor to tho ctcquisition ahall pHSe tu Lender to tho extent of tho sums by this Security Instn�ment ' T'
<br /> ..-..----. -_ -� ., -�, �— immaviaicry prrtri i�ino ei.yiiiS�uCrir. _ �
<br /> � 6. Occupanay, Proaervetlon, Maintena�co and Protectlon of tiie ProportyY; �orrower's Loan
<br /> AppUeatlon; Leesehnld8. Borrower 3ha11 occupy, establisli, Qnd uso tho Property as Bortower's princlpnl residenco within ;
<br /> � slxry dnys etter tho executlon ot this Security Inshument u�d shall continuo to occupy tho Property ns Borrower'a prineipnl
<br /> resldenco for at Icast ono year aiter tho dnto of occupnncy, unless Lender othMwiso ngreos In writing,which consent ahnll not
<br /> ; bo unreasonably wlthheid,or unles3 extenuating clrcumstunces oxist whlch aro beyend Bon•ower'a control. Bortower ahatl not ,
<br /> " destroy,dnmsgo or Impulr tho Propckty, allow tho Properry to doteriomto, or commit wnoto on tho Property. Borrowcr ohali bo In
<br /> dalault It uny torteituro eciion or procceding, whMher cNil or crimfnal.Is bagun that In Lender's good fnith�udpment could result
<br /> , in torteituro of tho Property or othenvi3o materinity Impnir tho licn creatod by this Socudty Inatrument or Lcndcr's security interost.
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<br /> F1318.1M0(10/'90) Pnpo 2 of 9 y_�Jl�/� , �
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