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<br /> 700.�lIi�:R �1fl�-i c'.1 tho lm�rovcnuato no��� on c�rc�Rcr uceicd on tho properiy, nnd c:l caac;v�cnta, cgpu�4cn_nc��, end � , ^�.u,
<br /> , • ' iixturc� no�;� on c�rc�Rcr a p:�r4 01 tho proper�r, A1 rcy�:war�icaio end udd:ilano uha:l clao bo covErc.d by lhlo SII�ary I�sUun��t. '+Wx- -
<br /> AI of tno 9orc�o:ap 1� rt�cr��d to In IP�Ia S�curiiy In�fair�l��it cs tiio'PTOperty.' °�,�
<br /> F30AC�ONIcP1 COVeN0.NY9 th�'.1 �OR'317Ci I� 13ttu!y c:!acd ai iho c�tato hcrcby cnnvrycd and hc�� tho dr�r�l to �rcN ��td •
<br /> convcy the Properry nnd that tho Rroperty Is unencura6ered, except tor encum6ranr,,�s �1 record. Bartower warrante �nd wGi . _ -
<br /> deinnd�eneral�r tho titlo ta tha Properiy ngalnst aN c�alm9 and cfemends, aubJect to any �ncumbr�nces o1 record. �__-
<br /> � THIS &�CURITY INS"TA1lMENT combines unNortn covenanto for natlonel uso and non-uniform covenanta with I;mited� . ,, r
<br /> vedntlons by judsd!ctlon ta conotitute a urtltomi oecudry Inetrument coverinp real property. °�► ` __�--
<br /> • UNIFORM COYENAN73. Bortowe and Lo�da covenmt end�flree ae toltows: •
<br /> 9. P�nyment of Princip�l �nd Int�r��t; P�epaym�nt �nd I.ato �hnrges�8orrawer eAall Rrompl►y pay when��: _
<br /> �• due th�p��neipal of crid lhtcrc:.t on tbo dcbt cvldcnccd by tha Roto r.nd eny prepayment end I�te chsr�7os due under tho Note. M� �- _
<br /> . 2. Fund�for T�x�s �nd Insuranc��SubJect ta sppucable!aw or ta e wrltten weNa by Lendor,Borrowor ah�Y p�yQ --
<br /> ' " to Lendov on the day monthiy paymenta aro due unda the Note,untA the Note Is pald In Nfl, a eum ('Fund�')tor. (e)ye�ry� • •
<br /> taxos and asoessmente whlch may etteln pdodty over thls 3ecudty Innrivment ae n Ilen on the Propeity; (b) yaady teasehold�(
<br /> payments ar ground renta on the Property, It any, (o) ye�►f�r huard or property fnaursnce premluma; (d) ye�rty Aood Insurance�
<br /> an num� a ablo b Borrower to Lender In accordance . ���
<br /> premlums,N nny; (e) ye�►iy mortgage fiaurnnce premfums,II any;end (Q y p y Y w
<br /> � with lhe provlslon� ot paregraph 8, In Iieu o1 the pmymxnt of mortQage Invurence premluma, 7'hese items ero caCed 'Escrow , '.n�^
<br /> . Item9' Lrnder m�y, at eny tir;�e, collect and hold Funds In an ernount not to excasd tho maxlmum emount e fender(at a
<br /> tederally retated mortgape loan rtu►y requlre tor BoROwer's escrow aecaunt under the tadenql Rexl Eatete S�ttlement Proceduros , ; �
<br /> Act ot 1874 as amended ham time to timo, 12 U.S.C. �2801 et soq. ('RE8PA'), untes9 enother law thet appile� to the Funda :,��°
<br /> sets a losser amount. If so, Lender may, et any Ume, collect nnd hold Funds In an amount not to exco�d the I�sser emoun� y�
<br /> Lender may est;male tho amount of Funds due on tho basls of cu►rent data and reasonablo estimates oi e�2nditures o}future
<br /> Hscrow Items or otherwlse In accordanca wlth appiloable lnw. .'�
<br /> The Funds shall be held In an InstftuUon whose deposlts are Insured by a tederal egency,Inst�umentality,or enUty pncktding ;�
<br /> Lender, If Lender is such an Instftutlon) or In eny Federal Home Loen Bank. Lender shaU appy tha Funde to p�y the Escrow
<br /> - Iteme. !_ender m�y not r�harr�e BoROwer for hotding end applying the Funds, ennualy enayzinp lhe escruw account, or verltyk�g i M� ,
<br /> the Escrow Items, unless Lender pays Burrower Interest on the Funds and npplicubfa law pertnits Lenda to mnke aach a • „�h�_�
<br /> . charge. However, Lender may requUe Borrower to pay e onctlme chsrge tor en Independent real estete tex rcportinp servlce � :�
<br /> , used by Lender in con�ection wfth lhls loen, unless eppllcable law provides othcywlse. Unless an agreema�t Is mnde or � �
<br /> � �� appliqbla law requires Intereat to be paid, Lender shall not be requlred to pay Bortower any Inteirast or eamings on tho Funds. �`-
<br /> Bortower end Lcndc�r mey ngree In writinp, however,that Interest shall be peld on the Funds. Lender ehaY flke to BoROwer, �=:
<br /> ' without cherge,an annuai nccounUnp of the Funda, ahcwing credits end debils to the Funds and tho purpose tor which each �'�
<br /> � debft to tha Funds wae made, The Funds aro pledged as additional secudty for all sums aewred by the Security Inslrumen4 �i,�
<br /> � If tho Funds held by Lender exceed the amounte pem�ttted to be held by applicable Inw, Lender ahail account to Dortowtr �
<br /> for the excose Funds In accordance wlth tho requlremerrte o} applicabie law. Ii the amount ot the Punds held by Lender et eny ,�,
<br /> ' time Is not sutticlent to pay tho Escrow Itema when due,Lender may so notify Borrower In w�itlng,and, in such case Botro•Ner ��;.���,--
<br /> shall pay to Lender the amount nacessary to muko up the deflclency. Borrower shall make up the daflclency tn no more than �
<br /> tweNe monthly payrteents, at Lender's aola dlscreUon. • ��� _�
<br /> ___.____._.._.__. Upon payment in tull of all sums secured by thls Securiry InsUument, Lender sha!1 promptly retund to Borrowet eny Funds `,"�� �
<br /> ' held by Lender. If, under paregraph 21, L4ndei 8hell aCqulre or seit t6e Ftoper[y.Lrnder, ptiui iu ti�o acy�i�s'�L'.-.r�or od�c! !!:� =��-
<br /> Pruperty, ahafl appy any Funds held by Lender at tha Ume of ncquisition or sale ea a credit egtilnst the aums eocured by thls : i' r.
<br /> Socurity InatrumenL "
<br /> • 3. AppllCption of PAymeflts. Unless applicable law providos otherwiso, all paymenls recelved by Lender under „
<br /> paragrephe 1 and 2 ehe.Y be applied: first, to eny prepayment cherges duo under the Note;second. to umounte payablo under �
<br /> perngreph 2;2hircJ,to Intcrest due;tourth,to prfnc�pal due;and laet,to any late chargo� due under tho Note. ,Cy
<br /> � 4. Chargee; Uens. Borrower shall pay ell taxes, assessments, chargos, 91nes end impositlons atUibutobla to the •, �
<br /> Propert/ which may attaln prtorky over thls Securfty InsUUment, and leasehold payments or ground rents, H uny. Borrower ghall '•..
<br /> pny these obllpatlona In tho manner provided In peregraph 2, or ii not patd In that manner. Bortower shaN pay them on time •:�+��
<br /> directly to the peraon owed payment. Borrower shnu prompUy tumish to Lender all naUces ot amounts to be pola under ihls 'r
<br /> paragraph. Ii Borrowor makes theso payments directty, Borrower shnll promptly fumish to Lender receipts evldencing the I , �• �,
<br /> payments.
<br /> 8orrower shall prompUy dischargo any Ilen which has prlority over this Secudry Instrument unless Borrower: (a)ac�rees In ,
<br /> � writing to tha peyment ot the obligatlon secured by tho Oen In e manner acceptabte 4o Lender, (b� canteato In good talth tha j
<br /> Ilen by, or defenda agalnst enforcement of the Ilen in, legal proceedings which In tho Lender's opinlon operate to prevent tha � ?`�
<br /> entorcement o}tho Ilen; or(c) secures irom lhe holder of the Iien en agraement seUsfactory to Lendet subordlnetlng the Ilen to I ' , " �+' �
<br /> this 3ec:urlly inat�ument. 11 Lender determines that any part of tho Property is subJect to a Iien whlch may attaln priorfry over thls I • � '.
<br /> S@curity Inshument, Lender may givo Bortower a notice identifying tho Ifen.Borrower shNl satlsiy tho Iien er take ene or more of ; , 7
<br /> the acUona sat todh above withln 10 days o}the gNing o1 notiae. �� �• � �
<br /> jtr
<br /> &. H�ZBPd or Property Insurance. Borrower shall keep the im rovements now exlstN or heteafter etected on the �� •� ��� ` +�
<br /> p g , �• r�•�.:._._
<br /> Properly Insur�d agalnst loss by firo, hamrds included within the term 'extended coverago' and nny other hezards, Including I ' ' _
<br /> • Aoods or Aooding, for which Lendor requires insurance. This Insuarnce shall be maintained In tho amounts and for the periods � .' ��
<br /> � thnt Lender requires. Tho Insura��ce cartier provlding the Insurance shall bo chosen by Borrower subJect to Lender's epprovN � ;�
<br /> which shell �ot 6e unreasonably withhetd. If Bortower lalls to maintain coverage desctibed nbove, Lender may, at Lender's � , �.'
<br /> option,obtuin covetnge to protect Lender's dghts In the PropeAy In accordance with paragreph 7. ! ,�� f
<br /> All tnsurence po!lcies and re�iewuls shnil bo ncceptnble to Lender and shall include a stundard mortgago clause. Lender •.
<br /> � shall have t�x dght to hoid the pofidos end renowals. If Lender requires, Bortower shall prompty givo to Lender all receipt3 ot •••
<br /> paid premiums and renewal noUces. In the avpst oi loss,BoROwer shall givo prompt notiee to tho fnsuranco c,artfer and Lender. ,
<br /> Lender mey make proof of loss If not mado prompty by Borrower. '
<br /> � Unteso Lender and Borrower othenvlse agreo In wrfting, insumnco proceeds ehall be epplied to rastoratlon or repalr oi tho �
<br /> . Properly damaged, 11 the restoraUon or repair Is ecunomically feasible and Lender's sacurity Is not lessened.Ii tho restotttUon or Y
<br /> ' repa!r is ne^ economlculy feaslbis or Lendc�'s security wouid bo lossened,tho insurance procea�ds shatl bo applied to tho sums
<br /> secured bjr 4P�s S2curlty Instrument, whether or not then due, w(th any excess patd to Dortower. 11 Bortower abnndons the t
<br /> Property, or tloes not answer withln 30 dsys a noUce irom Lende�that the Inauranco caMM hns offered to settle a clalm, then
<br /> Lender may �otlact tha Insuranco proceads. Lcndcr may u�a tho procECds to repafr or reatore tho Propercy or to poy sums �
<br /> , securad by this 8oeuriry Instniment,whather or not then duo. Tho 30�rlay period vri!i bQgln when tfio notice Is given.
<br /> Unlass Lender and Borrower otherwiso agreo In �vriUng, any appficnUon ot proceeds to princlpat shull not extend or
<br /> postpono tho duo dato of tho monthty puymenta reter►ed to In puragrephs 1 und 2 or ehango tho amount ot tho payments. If �
<br /> .. under paragraph 21 the Property Is acqulrcd by Lender, Borrower's dght to any Insumnco policles ond proceods resuiting irom
<br /> damago to tha Propertyr prlor to tho ncquisttion shaq pnss to Lender to the extent o1 tho sums by thls Security InsWment ;
<br /> '--_ _-- - _ ImmadL�tdv nrinr tn tho acauLsl@on. —.�
<br /> - - - . _ .� . . .
<br /> 6. accupancy, Pr�servatton� Mslntenanco And Protectton of the Property; Borrowc�r's Loan � �
<br /> • I Appilcatlon; L883ehOlds. Borrowe► ehail occupy, establish, nnd uso tha Prope�ty os Borrowers principal residenco wifhin •
<br /> � aGcty day9 after tha execuUon ot thls Sacudry Instrument and sh�0 conUnuo to occupy the Property ns Boirowers pdndpai .
<br /> � resldcnca tor nt least ono year nRer tho dnto ot oecupancy, unless Lendcr othenviso agrces In wriUng,whlch consent shall not
<br /> ba unreasonaby withheid,or untess oxtenueIIng circumstances exist whlch aro boyond Bortower's control. Borrower shnll not ,
<br /> � " dasVOy, damago or Impalr tho Property, alaw tho Propcity to daterlorntc, or commlt wasto on tho Property.Bvrtowcr shnll bo In ,
<br /> defauit(i any totteiture acUo� ar procecding, tvhether dvil or crfminnl, Is 6egun 4hat In Lender's good tafth�udgment could rosult ,
<br /> In toAeliuro o}tho Properiy or otherwiso matc�iNiy Impatr tho Uen crr.atc�d by thls Seeurity Instrument or Lender's secudry Intemst.
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