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<br /> � �• ' TO(�It�i VYITH all the trnprovea�ts now ar here�i��ected Qn the propFxty, and aU Pasements, a?Purtenances.and . , _ . .
<br /> . < , fn�res now or hm�fter a pmE of the property.A4 Bpfacert�nffi and add�Jons shaA elso Da,coyesed by this SewwrBy!n-trumenL � - > . ;
<br /> ' � � �n or mB m�om�c�r��a�o�u,rs se�rny rr,sn�t�sne'PropeRy.' . . t, '�
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<br /> � ` BQRRd4V� COYENANTS that Bortower is (aWfuQy setzed oi the estate h�eby cor►veyed and has thA�i�t to �ant and � � • - ,` �,
<br /> , � � � � ,`�.� , convey the ProPertY en,d that the Ftoperry Is un�naunbered �cceFt tor e�ann6�ce.s at recard Bortower wanants and w�l � �. • . '
<br /> � ;. `�: . def�d gei�a[ty the tRIs to ths ProPertY�qair�st aD ctaims end denm�dq.s�ject to any encumbrancas ot recard. . ; .= << . . _, � .
<br /> . � • • ' "` THIS 3ECUFitTY INSiRUMENT eomb@[ea wsttortn cavenattts tor naslonai use•and non�unKorm eavenarts with fun�?ed O � • ..< ,
<br /> , � _ . , vattattnns by jeats�citan to canstiU,ts a unxorm seaudy(nsfiuner�t cavedng reat pmperry. .
<br /> . � � . UNIFOAM COVENANT3. Barmwer ertd Lender cavenant an�a�ee as toVows: O �� . .
<br /> _ , , ` _ 1.Paymen3 af Pri�seipat and IMeres� Prepayment ar�d Late Chargea Borrawer BhaU Dromptiy Pay wAen Q'� ;. . , � ,-
<br /> , . due the prindpal ot and(nterESt on the debt evidenced by the Note and arry prepayment and fate charges due unde�the Not� � j ` �
<br /> _ • �.� . �. 2.Ftands for Taxes artd Insurance.Slibject to eppOcable taw or to a wrftien waiver by Lender.Borrower sha0 pay � N l .
<br /> . �� •` to Lender an the day maMhTy Payments are due undv the Note.unUl the l�ote is patd in fuU,a sum('Fundsq for. (e)yeady► � .
<br /> -�' , . �'�:�', taxes end assessme�is wA[ch may ettain pdart'ty over thts Sscu�ity Ins�ument as e 6en on the P�oPere7l: (b)Yea�tY leasehoid � `- �
<br /> - --_ ------- paymerRS argrOUttd t�an the ProP�ll:�enY. f�I Y�Y��W'oD�I!�P�:(dT Y�Y 600d�stuanse : - - - . -- ---
<br /> — � �� premiums.H anY:(e)YearlY martgage tnsurance Prnm3ums.(t anY:��(0�4I sums paya6le by Borrower to Lender in accordance ��. . � .
<br />- • � wfth the pmvlslons of para�aph 8. tn 6eu of the paymertt ot moRgage insurance premium's. These Rems are caQed 'Escrow � • . •
<br /> . � t •. Rems.' I.ender may.si arry t(me, eoflect end hold Funds tn en emourt not to exceed the maximum emount a lender tor a ` [ � � �
<br />- � • taderaIIyr r�ated martgaga faan may cequUe for BorrmNer's esaow acca�mt under tfie fedeat Real��3sUtensent Procedues � . ' .
<br /> �� ,- . " . Act of 18T4 as amended from thne to thne.12 U.S.C.�28d1 et seq. ('6iE3PA'), �mtess anoth�taw thai ayp8e�to ths Funds �..,.` .. �
<br />_ �� Q .• aeis a lesser amqunt tt sa.Lend�may.at eny Ume, coVeci and hold Funds fn an amourtt not to exceed the lesser amount : . .
<br /> - Lender may esUm�e the ffinourt af Funds due on the 6asts ot current dsffi and reasonaDfe estlmates at expenditures of tuWre ; ; � . �
<br /> , . . Eseraw(DSms or otheqwlse in accordance wRh eppQcabfe faw. , k � �
<br /> � ' ' The Funds shaD be hefd in an tnst�Hon whase deposits are insured by a federal age��y.�nstrumenffi[�y,or�rrtny(fndudirtg . .
<br /> � " � Lender.(f tender is such en tnsf�don)or(n any Federal ttome Losn Benk Lend�sP�aD appry the Funds to psy the Esaow "
<br />- � � � Items. L�tder may not charga Bartuwer tar hahDAg end appfying the fwds,annuaUy anatyBng the escrow acCOUnt or Y�ityfng � . . � . ." � " �
<br /> . . � , ' the Esaaw Rema. untess Lender Pays Borrower int�est on tfie F�mds end appiirabte Iaw permfts Lender fi mahe sucN a - -
<br />_ � . . charge However, Lende may requfre Borrow�to pay a ane3lme eharge far en �ndepEnderrt resi estate t�c r�orBng savice ' ;,
<br /> " used by Lender tn cannecdon wffh this loan, untess eppQcable law provides otherWise. Unless en agreematit is made or { . . � ,
<br /> ,. - app&�41e faw requfres lntef+est to be paid. Lend�shafl not be required to pay Bortower enyr trrterest or eamings on the F�mds. E . - '` �
<br /> � . Borrowe and Lender may agee in wdtlng, however. that tnterest sAaO be patd on the FunQa. lend�shab give to Barrawer, j '
<br /> '. • .:., � ' wdhout charge,en annust accaimtJng of ths Funds, s6owtrsg cre�ts and debits to the Funds snd the purpose br whicA esci�
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<br /> . •._� k . .. . . _ .. . . .. �febit�to the-Fundswas-mad�-�The-Funds-ereptedged-as-addiUonal seaniry tor�all-sums-secured-by-the-8ewfity irtstrummE-- __ . ._._.-- -. . --- - -.
<br /> , ��� " (f the Funds hetd by Lender exceed the amounts permitted to be held by eppQcab}e taw.Lertder shafl accout►t to Borrower � �' '
<br /> � • , tor the excess Fvnds in acco�ce wfth the requirements oi app�cab�e taw.If the amoutrt oi the Funds heTd Dy lender at any . � • '•;��_��
<br /> • Nme ts not suffldent to pay th�Escrow Items when due,Lender may so noYty Bortower tn writlng,and tn sucb case eorrower ' '` �, �.':�,_
<br /> ` aha0 pay to Lender the amount necessary to make up the deftdency. Borrawer shaU make up fhe defletencY tn no more than � ,. ,,..;.?-+i�±1 '
<br />__ . ,. � _ . iwelve morrthty payments.at Lenders sole disaetion. ' , " '__ ,:s-,y .,
<br /> ' . Upon payment tn fu0�ot aD sums secured by thfis Securiry(nstrumen�Lender shail promptly rehmd to Borrower any Furtda � • ', :
<br /> . . � hetd by l�ender. If.under para�aph 21.L,ender shail acquire or seD the Property, Lender,pdor to the acqutslUon or sete of the , � � �
<br /> Property, shaD appry any Funds heid by Lender at the Ume of acquisiUon or aefe as a credd agalnst the sums secured by this , •
<br /> ' � Secuflty tnstrument ' . , . ,• `
<br />~ � � ' 3. Appl�eatton af Payments. Untess appiicebte Iew proNdes otherwise, a9 paymerrts received by Lendel under �� , . �� • '
<br /> � , paragraphs 1 and 2 sha9 be applted firsf,to ar►y prepayment charges due under the Not� second,to amounts payable under - . ,
<br /> . � parasaph 2;thhd,to interest due;fourth,to pdnGpal riue;and Iast,to any Iate charg�es due unQer the Note. '. �, �.�•,
<br /> � . ' ' � 4. Cherg9s; Uer18. Bortower shafi pay alf taxes, essessmerrts; eharges, Snes end imposttfons ettributabie to the � ��
<br /> � � . . Rrapety which may attatn pdority over thls Securfty Instrumen�and teeseho}d payments or graund rents.N arry. BoTOwer shaD . •. ',���� '
<br /> � pay these o6�gatlona in the manner provided in paragraph 2, or H not paid in that manner. Borrower shaD pay them on ftma � �
<br /> - . ": � . • di�ctly to the person owed payment Borrower sha0 prompSys fumfsh to LenQer a6 noUces o}amourits to be paid under tAts • ,, � �. -
<br /> • � paragraph. fl Borrowet makes these payments directiy, Borrower shall promptty fumtsb to Lender recetpta evlQencing the . ,� {
<br /> ' paymeMs. • �,.
<br />-� �� Bortower shall promptty discharge arry lien whfch fias pdorfty over this Seairity Instrument untesa Borrower: (aj agrees In ... • • "'•'•�`
<br /> ? � � . miting to td�a pay:nent o1 the obBgaUon secured by the Ilen in a manner sccepiab(e to Lender: (b) contests In good fafth the ( � ��;,�f!
<br /> . ' Om� 6y,ar defends aqainst eiforcement of the 6en In, legal praceedings which tn the L•endePs opinion operate to prevent the . ,
<br />_ s ' �� enforeement of the Oen;or(o)searres hom tha hotder of the fen an a�eement saUsfactory to Lender subor�inaWg the qen to , ' , • ' �
<br /> thf9 Securfty Instrumern.B Lender detertNnes that any►part of the PropeRy is subject to e Uen whtct►may atteln pdoriry over thts • . .
<br /> ;. . � Secudty fashum�nt,lender may giva Borrower a noYce identitying the Oen.Bortower sha11 satlsfy the lien o�taice one ar more of _
<br /> the actions set toRh ebova wfthin 10 days of tha giving of noUce. ••
<br /> - ; � . : 5.H�Td ar Property tnsurance:Borrower shafl keep the 6nprovemerrts rtow exisUng or hereafter erected on the � , '.• ,
<br /> : Properiy(�sured apainst foss by fire, hemrds(nctuded withfi ihe term •extended coverage• and any ofher hatards, indud(ng ''` • � ,
<br /> , � . floods or ftooding,for whicb Lender requires insurance. ThTs insurance shaD be maintained in the emounts and tor the pertods i ��'- •
<br /> :� that Lender requires. The tnsurance canier proviQfng the Insurance shetl be chosen by Bonower subject to LendeYa approval � • ' ,
<br /> . whicb shatl not be unreasonebty withhetd. If Borrower fails to malntaln coyerage described abuve.Lender may, at Lender's �
<br /> .: opUon,obtain coverage to protect LendePs righte In the Properly In eccordancv wfth pa►agrapb 7. ' � .
<br /> � All tnsurance policles and renewafa shaA be eeceptable to lender and shall inc(uds a stendard mortgage ctause. Lender ,
<br /> ' sha0 have the dgfit to hold the pollcles and renewats. If Lender requhes,BoROwer shaN prompUy gtve to Lender e0 reeeipts o} I
<br /> • � pald premtums and renewal noUces. in the event of tosa,BoROwer shaU ghre prompt noUce to the insurance carrier and Lender. � �"`�
<br /> . , Lender may make proot of toss B not made promptry by Borrower. ' i �
<br /> � • . Unless Lender and Bortower offierwtse a�ee in writing, (nsuranca proceeds sha0 be applied to restoratton or repalr of the ;- �
<br />_� � . '. .. Properiy damaged.H the resto�aUon or repair is ecoqoMcally teasmle and LendePs security is not tessened. N the restoration or � �
<br /> ��_ , , repeU is Rot economically teasibla or Lender's aewdty woutd be lessened,the Insurance proceeds shall be applied to the sums 1 . ,
<br /> � - secured by tAts 8ecurity InsWrt►ent, whether or not then due, wftb eny exeeas patd to Borrower. It Borrower abandons the •
<br /> � . ' . Propeity, or does not answer wRfiin SO days a noUce ftom Lender that the insurence canter has oflered to setUe a cialm,then �
<br /> . • lender may collect the tnourance proceeds. LenQer may uso the proceeds to repair or restore the Properry or to pay sums I "
<br /> . ' � , secured by thfs Secvriry Instrumant,whether ar not then due. The 90�day pertod w10 begin when the noUce ts given. i
<br /> ' . Untess Lender end Bortower otherwise egree fn wrWng. any app9caUon ot proceeAs to pdn�pal shall not extend or
<br /> . •, � � postpone the due Qate of the monthly payments refened to tn paragraphs 1 and 2 or cfiange the amount of the paymems. 11 ! •
<br /> . • under parayapA Zi the Property ts aecaired by Lender, Borrowcv's dght to any insurance polides end proceeds resulting irom !
<br />_ .;. � damage to the Property pdor to the acqulsNon shaA pass to Lender to the extent of the sums by thts Security Instrument � �
<br /> � , ' immedistety prlar to the acqulsiUon. � � �
<br /> �.. . � � 6. Occupattcy, Preservatton, Matntenance arsd Protectlon of the Property; Borrowa�'s Loan '
<br /> � � � . A,pplteatton; L988e110td9. Bortower shaU occupy, estabUsh,attd use the F�rayerty as BorroweFs pdncipal residene9 within : • �
<br /> spdy days eft�the execulWn of this Saeudry tnstrument and sha11 continue to occupy the Property as Bottawer's pr(ncipaf ' -
<br /> ' residence tor at ieast one year after the date of occupancy, untess Lender otherwlse agrees in wrfting,which consent shell not �
<br /> . .�� . , " .� •�. ' be unreasonably withhetd,o►untess extenuaUng cUcumstances e�st whlch ere beyond Bortower's eontroL Borrovrer shall r,ot
<br /> • " • ' � destroy,demaga or impeU the PropeRy,aRow the P�operty to detedorate,ar commft waste on the Prop¢rty. Borrower shatl be in � �.
<br />, - -'. ' ' Qefauit M any forfeHure acUon or procesding, wfiether chrU or cr(minai.is begun thal in Lender's guod faitb judgment coutd resutt
<br /> • • �. . tn tor[eiture of the Property or othen�vise matedaQy Impalr the Uen�xeated by thla Sew�ty Instrument or Lender's security IrtteresL �
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