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<br /> TO�EI'NER 6VI5'H nll tho Impmvcmen4a now on c�rcaREt creeted on tho properry, ond nii eaaemenro, appurtennncoa, ond � - I
<br /> (l�durca nov�on c�rc�ftcr n pan o1 tha pro�crtyy. A!I rcplaccmcntn and add�tlonn ahnll also bo xovcred by Ihl3 Secvriry Ins�rumcnt. ,
<br /> AU o1 tho forcflolnfl la rctcrrcd to In thln 9c�uriy In�tnmtcnt nn tha 'Property.' i
<br /> BOflROWER COVENANT9 Ihat Bortowcr i� lawfully oclr.etl oi ti�o ostnto hereby conveyad and ha�thc�dpht to prnnt and�� '.
<br /> ,, convey the FYoperty and ihat Ihe Property Is unencumbernd, except tor encumbrancos ol racord. Bortower wamants and wl!j�fi�� � ��.-
<br /> detend penerally the titlo to tha Properry nflnlnot all elaimn and tlemands, oubJoct to nny encurnbrnnces o}recard. , �
<br /> � THIB 8ECURITV INSTAUMENT comb�nes uniform covenante for notionul uso nnd nun•uniform covenants with 1lmitedd . � '� . ;
<br /> variatione by Jurfadtctlon to ca�atituto a uniform security IneWment coveting real proprrly. � I � 1� �
<br /> UNIFORM COVENAPiT&, Bo►rower and Lot�der covenent end ngree as tollowa: � '�'4
<br /> 1. �uyrrBOn� �f P�rl�c[pe! and Ee�tcrort; Pcapaymorat occd !.alo Charpoae aonovrer shs�l pramptly pey v�hen� � _ - � .
<br /> • � due the princlp3l of nnd Interest on the debt wtdeneed by Ihe Note end eny prepayment and late chargea duo under the Note, i �.�'�q,�
<br /> 2. Funds for Taxes and Inauranca.Sub�ect to epplicable law or to e wdlton vraNer by Lender, Bovrower ahall pay
<br /> to Lender on tho dey monthy paymente avo due under the fVote, untll tho Note Is pald In fuil,a sum ('Fu�ds') lor (a) yearty i #��
<br /> taxea and esseaamente v�hich may ettaln pdorfry over thls Securtty Instrumont as a Iion on the Properry; (tr) yearry leasehold �
<br /> payments or graund renta on tha Property, it any; (c) yearty hazard or property InsuBnce premlums; (cn yeary flood insumnce � •><''�
<br /> premlums, H any; (�) yeariy mortgage Insuranco premiums,tl uny;and(Q any sums payable by Borrower to Lender In accordance i .
<br /> with ihe provislono 01 paragrnph B, in Ileu o} the payment of mortgage Insurance premiums. fiesa itsms are called 'Escrow e
<br /> Items.' Lender may, at eny time, collect and hotd Funds In an nmount not to exceed tf�e maxtmum amount a lender for e I �Y
<br /> toderally related mortgage loan may requlro tor Barrower's escrow eccount undar the federal fleal Estate SetUement Procedures
<br /> Act o} 1871 ns amended hom tlme to Umo, 12 U.3.C. @ 260i et saq. ('RESPA'), uniess anotfier law that nppuss to the Funds . A
<br /> aets e lasser emount. If so, Lender may, at any time, coVect and hold Funds In an amount not to exceed the lesser emount.
<br /> Lender may estlmate the amount of Funds due an tho basls of current dnta and reasonnble esllmates ot expenditures of futura ;
<br /> Escrow Items or otherwlse In accordanca with applicable law. " �
<br /> The Funds shall bo he.ld ln an InstYution whose deposRa are insurod by a federal agency,Instrumentality,or enUty(Incfuding
<br /> Lender, if Lender is such en institution)or in any Federal Homo Loan Bnnk Lender shall e�ply the Funds to pay the Escrow . . . _
<br /> � Items. Lender mey not cher{�o Bortower for holding nnd applyinp the Funds, annualty analyiJnfl the oscrow �ceount, or ve�itying ,� °
<br /> the Escrow Itemn, uniesa Londer paya Bortower Interest on the Funda and applicable law permita Lendar to make such e �
<br /> charfle. Howevor, Lender may requlre Bonower to pay a one�time charge for an Independent real ostc�te tax repartin4 service ' .'�;
<br /> uaed by Lender In connnction wfth thls toan, unlose applicabla lativ prov(des otherwise. Unless an agreement Is muda or °
<br /> applicable law requires interest to be pald, Lender ahaL not be requlred to pay Borrower eny Interest or eamings on tho Funds. •� {'�
<br /> Borrower and Lender may agree In wdting, however, that Interest shall be pald on the Fun ds. Lender shall give to Borrower, „
<br /> wlthout charge, an annual accounting of the Funds, showNg credite and debits to the Fund9 end the purpose tor which each �..��
<br /> debit to tha Funds waa made. The Funds aro pledged as additlonnl secudty for all sums secured by the Socurtly Instrument. 5�"
<br /> If the Funds held by Lond�r excaed the amounts permitted to be held by applicabte law. Lender ahall account to Borrower ,��• , �_
<br /> for the exceso funds In accurdance wlth the requlrements oi applicnble Isw. if the amount oY the Funds held by Lender at any �c'<�,--
<br /> Gmo Is not suiflclent to pny the Escrow Items when due. Lender mtty so notiy 8ortower in wdtlng, nnd, In such cuae Borrower �, �`�'`°�'
<br /> shall pay to Lender the amount noce�sary to make up the doflclency. Bortower shall make up the do'Aclency in no more than 1:'
<br /> twelve monthy paymente, at Lender's solo discreUon. _����
<br /> Upon payment In iutl oi all sums aecuretl by thls Secunty Instrument, Lender ena�i promptiy r�iuna to aorrower any runns ---
<br /> held by Lender. It, under paragraph 21,Lender shall aaquke or sell 1he Property,Lender,pdar to the acqulsfllon or eale ot the �w�. ,,
<br /> Properry,shall apply any Funds held by Lender at tho t(mo of ecqu(s1Gon or sale as e cred'ft egaln3t the sums secured by qhis ` � �� ��
<br /> Securiry Instrument. � � n_.�
<br /> 3. Applieatlon of PeytYiente. Unless eppacable law provides othenvise, all paymenis recelved by Lender under �• � �
<br /> • pa►agmphs 1 and 2 shali be epplied: Prat, to any prepayment charges due under the Note; second,to amounts payeble under '••� .e,4 , �"
<br /> paragrnph 2;third, to Interest due; fourth,to p�inclpal due;end last,to any Into oharges due under the Nate. ;'�ti �
<br /> 4. ChAYgYS; UOns. Borrower ehsll pay all teexes, assessments, charpes, Mes and ImposlUons attributabla to the �� � ��
<br /> Property which may attein prtoriry ovet thls Securfty Instrument,and leasehold paym2nts or ground rents,If any. Borrower shall _
<br /> � pay thoso obUgatlons In tho menner provlded In paragraph 2, or Ii not paid In that munner, Borrower shall pay them on time � �;:":
<br /> � diractly to the person owed payment. Bonower shall promptty fumish to Lender all noUces of nmounts to be peld under this ' '� � t
<br /> � paregreph. If BoROwer makos these peyments direclly. Borrower ahall prompty fumish to Londer recetpis evidencing the � 'r' �� �
<br /> payments. �� �4 .
<br /> � Bortower ahall p�•ompUy dlscharge nny Ilen which ha3 prfority ove► thls Socurity Instrument unlesa Bomower. (a) ngrees In �
<br /> � wriUng to the payment ot the obligation aecured by the Ilen In n mannar nccepteble to Lender; (b) conteste In good faith the � `��
<br /> Ilen by, or detends agalnat entorcement of the Iien In, legel proceedlnps which !n the Lender'e apinlon opereto to prevent tho `� "'�',' �-�=---��
<br /> entorcement oi the Ilen; or(c) encures hom tho holder o1 the Ilen an agreement eaUsfactory to Lender su6ordinating the Iten to ' -��_
<br /> this Securlry instrument. If Lender detetminRS that any pa►t of tho Property is subJact to a I!en which may ettaln prlority over thls r;�: _
<br /> Secudry Instrument, Lender may givo Borrower e noUce Identttying the Ilen. Borrawer ahall aetEsly tha Iion or take one or more of �'"� :• - � .��'
<br /> the actlons set forth ebove within 10 days of tho giving of noUae.
<br /> 6. Hazard or Property Insuranee. Borrower shnll kocp tho Improvemcnts now existing on c�reafler etected on the s'���'
<br /> Property Insurod agulnst loss by iire, hasarda Inciuded with:n the term 'extended coverege' end eny ather hazerds, Inctuding J �
<br /> tioods or Oooding,tor whlch Lender requlres Insumnco. Thls tnsuranco ehall be malntalnod In ihe emounta and tor the perlod� ,� ,!W +
<br /> , thnt Lender requlres, The Insurence cartler providing the Nsurance shall be chosen by Bortower subJect to Lender's approval ,
<br /> wh(ch ahn0 not be unrea3oneby withheld. If Bortower lafls to malntaln coverage de�cribed nbove, lender may, et Lender's ��,';�
<br /> option, obtain coverego to protact Lender's rights In tho Property In accordnnca with pamgreph 1. �''• �,,,,���"
<br />.. All Insuranoe polides nnd renewals shall be acceptabto to Lender and shall include e stendArd mortgage clause. Lr-nder � „
<br /> shall have the tlpht to hold lhe poilcles end renewels. Ii Lender requlrus, Borrower shall prampUy gNe to Lender ail recetpts ot '`�'
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<br /> pald premlums end renewnl nolices. to the ovent of loss, Borrowor shall glvo prompt nottca to the Insurnnco carrier and Lender. � °�I
<br /> Lender may mnko proof uf loss H not made promptly by Borroover.
<br /> Unless Lender and Borrower othervvise ac�ree in wrtting, lnsurance proceeds ehall be epplied to restoraUon or ropelr ot tha �
<br /> . PropeRy damagod, li tho restoreUon or repa!r is economtcNly teusiblo nnd Lender's securfty Is not lessened. If IhQ rostorntlon or � •�' r
<br /> repair Is not economieally teasible or Lender's secu�ity would be lessened,the Insumnco procEeds shnll bo eppllod to the sums � � ■�
<br /> securad by this Secu�lry lnstrument, whether or not then duo, with nny excoss pnid to Borrower. If Borrower abandons tho ! ' —
<br /> Propsrty, or daes not answer wilhin 30 dnya a noNco trom Lender that the Insurance carrfer hes oNered to settle a claim, then "�'
<br /> ILender mny collect the insurtince proceads. Lender may uso tho procctads to repalr or restoro tho Property or to pay sums '
<br /> secured by this Securtly Instrument, whether or not then duo. The 30�day period wiil begin v�hen tho nottca Is glven.
<br /> Unloss Lender and Borrower othenviso agrco In wdUng, nny npplicntion of proceeds to principal shau not oxtend or � �
<br /> postpono tho duo data oi lhe monthly payments rnierrod to tn paragraphs 7 nnd Z or chango tho amount oi tha pvyments. If �I
<br /> under pamgroph 21 the Property is acqulred by Lender, Borrower's �tght to flny Insurance po�des nnd procceds rosulting from �
<br /> damago to tho ProAertY pdor to the acaulsiUon shall nass to Lender to tho extent of tho sums bv thls SecudN InsUUmrnt . '�� '
<br /> '. � � ' Immadletet� p�ior lo ihe acquisitlon. � �.i
<br /> 8. Occupancy, Presarvation, Mafntenance and Proteatton of tho Property; Horrower's Lopn
<br /> AppllCatlon; Lea88l1o1d8.Borrower shall occupy,establish, end uso tho Property as Bortower's principal resldenca withln , �
<br /> slxty daya atter tho execuUon of this Sscuriry Instrument end shall continua to occupy the Properry as BoROwer'e princlpul
<br /> rasidenca tor at least one year alter tho dato 01 occupancy,unless Lender othenviso ngrees in writing, whlch consent shnll not
<br /> be unreasonnbty wkhhcld, or unless extanuAtinp circumstnnces oxist which nro boyond Bartowcr's cantrol. Borro�vcr shall not �
<br /> . destroy, damago or Impalr tha Property, allow thu Property to dete�iornte, or commit wasto on thu Proparty. Borrower shall ba in ,
<br /> dotuuft Ft any fo►leiture actlon or proceeding, whother dvEl or orlminnl.Is begun that In Lender's pood Inith�udgment couid result {
<br /> IIn foAelturo of tha Property or othenvfso mntedally Impalr the Ilen creatod by thls Security Instramznt or Lendei s security Interest. �
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