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<br /> TOCsETHEA WfFH aii the improvements now w herea8er erected on the pmperiy. and ell easem�ts. appurtenances, and �-•.:
<br /> - ` . 4 .fix�res now or hereafter a part of the prape+ty.AII re�lacements and add�h'ons shaU a�so be covered by this Securiry InsUume+R �•: ' .
<br /> - _:. _- _ -� � Aii of ihe toregotng is referred to in this Securiry Instrument as the'Properry.�
<br /> BORROWER COVENAlNTS Shat BoROwer is EawfuHll seaed of the estate h�etiY �^veyed and has the right to grent and �.'�T=,__J`,_. `
<br /> � � eonvey the Property and thcdt the Properry is unencumbered excePt for encumbsanees o! record. 8orrower wa�rar►ts and `�v�l _,
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<br /> de[end generalH the tiUe to the ProPerty against all daims and�emands.subject to any encumbrances of record.
<br /> � THIS SECURI7Y INS'fRUMEM com6ines unHorm eovenanta for national use end nonitnifotm ccvenaMs with ��
<br />° � vadatians by jurisdictian to constitute a undorm security inswmm�t covering real ProP�►Y� . ,
<br /> - UNIFORNi COVENANTS. Borrower and Lender cov Pt and agree as tollows: a Wfien �.
<br /> . � 1.Payment of P�inaipat and ta4ares� Pre �e� and Late Ch�ana ra2e cnarq aue nae�u e ytvote. � _ .
<br /> , due the pdndpal ot and interest en the debt evidenced by ffie IVote and arry PreAaYm i, ,
<br /> � ' 2. FundB f0�T�ce9 Snd ln8u�sne9. Subject to apPGceble faw or to a written waiver by Lender,Borrower sha0 pay �' .._. -
<br /> � ";::�„r < to Lender on the day month►y paymenis ere due und�the Note,unhl the Note is paid in fuU, a svm ('Funds')tor. ia�y�
<br /> ,— ___,� taxes and assessmerts which may atfair► pdority over this Secuiity Instrument as a 6en on the Property: lb) Y�Y �surance -
<br /> � , payments or ground rerds on ths Property. it anY. (aT Y�Y ��or properry insurance premlums: (tn Year1Y
<br /> � '� - premiums.ff any,(e) YeartY mortga4e insurance pre.miums.if any:end(�any sums payabte by 8orrower to Lender in accordanee -- ,. .
<br />- witt� the provisions ot paragraph 8, in Geu ot the paymerrt of mortgage insuiance premiums. These dems a��� ���W � �`..:
<br /> �t�g. ��may.a� any time, copect and hold Funds in an amourtt not to exceed the ma�dmum amaunt a lende►for a �
<br /> -. . � : federalty related mortgage toan may re4uire for Bortower s escrow aceount under the federal Real Estate SeWemer�t Proeedures . ; � .
<br /> � Ad of 1974 as arnended from time to time. �2 U.S.C.�2601 et seq. ('RESPA'). unless another taw that aPPiies 4o the Funds �
<br /> � • sets a tesser amou�t tt so,Lendu may. at anY time, coUect and hold Funds in en amount not to exceed the tesser emaurtt. � _ _ _
<br /> � �'`'. �d��a y esttmate the amount of Funds due on the basis of current data and reasonabie estimates of acpendWrea of future �
<br /> Escrow ftems or othervvise in accardance witt►ePpGca6te Iaw. ducflng �
<br /> � The Funds shail be hetd in an instiditian whose deposits are insured by a tederal agency.i�►�e�en�tY•��P�BM�� �-� ^;:'-
<br /> , �, ' Lender. H I.ender is such an fnstidrtion)or in arry Federal Home Loan Bank- Lender shall apply __
<br /> � Items. Lender may not charge Borrower tor holding and appiy[ng the Funds, annually anah/dn9 the PsscroW 8cc°urrt,or veri[ying � �n�.
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<br /> � � � � the Escrow tiems, unless Lender pays Bortower tnteres► on the Funds and app�cebie taw Pennits Lender to make such a � __
<br /> cfiarge. Nowever. Lender may require Borrower to pay a one-time charge Tor an independertt real estate tex rePorttng seav�ae
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<br />- � - used by Lender in wnnection wrth this toan, untess appficahle Iaw provides othemtise. UNess en a9��e^on the Funds. ;-
<br /> .. , applicabie law•requires irtterest to be paid Lander shali not he requtred to paY 8orrower eny inierest or eamings ' --
<br /> � `� ° Bortower and Lender may agree in wri►in9+ howaver. that interest shaU be pald on the Funds. Lender shall give to Borrower,
<br /> • � • �- without eharge,en ennuai accounUng of the Funds, showtng c�edits and deb7ts to tbe Funds and the purpose tar which each i_=
<br /> � ' debit to the Funds was made. 'fhe Funds are ptedged es addidonal security for all's�1e1� L�endes h eaccourrt to eorrower ��; ==—
<br />'"� ' It the Funds held by Lender exceed the amoutrts permitted to be held by app „. =•_
<br /> tor the excess Funds in accordance with the requirements of applicable law• B the amou�t oi the Funds heid by Lender et e�Y �as�-
<br /> • � time is not suffider►t to pay the Escrow ttems when due,Lenda may so notiry Bortawer in writing,and.fn such case BoROwer ,��"'-"�.,n-
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<br /> sha�pay to Lender the amouni necessary to make up the defldency. Botrower shall make up the defldency tn no more then :� _��
<br /> .._ . .... -. iweNe morrthly VaYrr►ents.et Lender's sole discxettoa :..,,.,.,-�••mrs��
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<br /> , ; Upen paymeM tn tull ot eJl sums secured by this Security Instrument, Lender sLh�d�p�or tor the acquisitlon or saie of te .,��:�
<br /> � ' � ' ' hetd by lsnder. If,under paragraPb 21.Lender shafl acquire or sell ffie PropeRy. .. ,,;'-�_
<br /> ' , •i propeny,sha11 appty any Funds heid by Lender at the time of acquisRton or sale as a credR agains!ttte sums seared by this ����„�,_.
<br /> ' :.:• gecurity Instrument : uxa^-•::
<br />-�r e�rts received by Lender under t�� . ^`�"
<br /> . -° ::, 3. Application ot Paymenta. un�ess aaaucame iaw provides athenMse. a�� v� .;a-,,��
<br /> paragraphs 1 and 2 shall be applied• flrst,to any prepayment charges due under the Note•,second,to amounts payable under + _- -
<br /> • , paragraph 2;ffihd,to interest due;fourth, to prindpal due:and last,to any late charges due under the Note. '" s;.,
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<br /> � � • 4. ChArges; LiOns. Borrower shall pay all texes• assessments, charges. flnes and impositions ett►ibuta6(e to the � „,
<br />-' - • Properry which may ettain priority o�er this Securily Inskumer►t,and Ieasehold payments or graund rents.H a�ry. Bortower shaU :•.;'.�.
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<br /> ' _ pay these o6ligaUons in the manner provided in paragraph 2,or ii not paid in that mannw. Bortower shall pay them on Ume °;�_
<br /> ` � , � , dlrecHy to the person owed payment Bortrnver shatl promptiy tumish to Lender ell noticea of amour►ts to be paid under this
<br /> . � paragraph. H Borrower makes these payments dfrectly, Borrower sheil prompUyr tumish to tender recelpts evidendng the -�R�
<br /> payments. �.��s:.•_
<br /> _t._
<br /> ' ' 6orrower shali promptiy discharge any lien which has pdarlty over this Securily Instrument unless Bortowe►: (a)agrees in : .`�Y
<br /> writing to the payment o1 the oblig�tlon secured by the Ilen in a manner acceptabie to Lender, (b) corrtests In good fafth the : �:,
<br /> � lien by, or defends against entorcement of the lien in,legat proceedings which in the Lender's optnlon operate to prevent the � : : a r:
<br /> '�`�� � eniorcement of the lien; or(c) secures from the hofder of the flen an agreement saUstadary to Lender subordinaUng the Ren to _.
<br /> ' ' this Securiry Instrument. It Lender detertnines that miy part ot the Property ts subject to a Ilen which may attatn Pder(t�►over thia �.y�P
<br /> � � Security instrument, Lender may give Bortower a noUce IdenYdyUig the Ilen. Bortowar shall satisty the lien or take one or more ot '. �;�
<br /> �'�+��� ' the acUons set torth above within 10 days of the giving ot noUCe. ' '. ,;.-_
<br /> 5. Ha�zard or Property Insurance.BoROwer shail keep the tmprouements now existing or hereafter erected on the : ,,,
<br /> ' P►operiy Insured against Ioss by fire, hazards Included within the tertn "extended coverege' and any other hazards. including ;�:,-
<br /> " floods or flaoding,for which Lender requires insurance. This insurance shall be matn t a ine d tn t he amounts and tor the pedods
<br /> thai Lender requires. The insu►ance carcier providing the insurance shail be chosen by Borrower subJect to Lender's approval : • • -
<br />� which shali not be unreasonaby withhe�d. If Bonower tails to maintain coverage described above, Lender may, at Lender's
<br /> optlon,obtain coverage to protect Lender's dgMs in the PropeAy in accardance with paragreph 7• •
<br /> All insurance policies and renewais shail be aaceptabte to Lender and aha0 Inctude e standard mortgage ctause. Lender
<br /> shatl have the right to hoid the pollcies and renewals. N lender requires, Borrower sfiall promplty►give to Lender etl recetpts of , :
<br /> , . .� pald premiums and renewal noUces. In the event ot loss, 8ortower shall give prompt�otice to the insurance cartier and Lender.
<br /> '.'� � Lender may make proof of Ioss H not made pramptly by Bortower.
<br /> :��4 : Unless Lender and Bonower otherwise agree in wrldng, insarance proceeds shall be applled to restoration or repair ot the . .
<br /> ,� . , PropeRy damaged.H the restoration or repair ia economicalty teasible and Lender's securlty is not lessened. It the restoraUon or
<br /> � • • repair is not economicalty teasible or Lenders security woufd be lessened, the insurance proceeds shall be appUed to the sums
<br /> � secured by this Security Instrument, whether or not then due, with eny excesa pald to Bortower. I1 Bortower abandon9 the
<br /> � Property. or does not answer wdhin 30 days a notice trom Lender that the insurance cartier has oifered to settte a daim,then :
<br /> ' � Lender may coliect the Insurance proceeds. Lender may use the proceeds to repalr or restore the Property or to pay suma .
<br /> secured by this Security Instrument,whether or not then due. The 30-day period v�ill begin when the noUce Is g(ven.
<br /> ' Unless Lender and 8ortower othenvlse agree In writing, any apptication oi proceeds to principal shall noi extend or
<br /> postpone the due date ot the monthty payments referted to in paragraphs t and 2 or change the amount oi the payments. 11 ,_
<br /> � � damageto9l ehProperty pror o'theCaequisition`shallrp asrtt WLenderhto the extont ot t eosams by hisSecurity Instrument �' •
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<br /> •i� • ' immediately pdor to the acquisNon. .
<br /> • • 6. Occupancy. Preservation, Maintenance and ProtecNon of the Property; Borrawer's Loan �
<br /> Ap;1UCatiotl: Leasehold9.Bortower shall occupy,establish. and use the Property as Borrower's principal residence within ' •
<br /> ' ; sixty days after the executlon of this Securiry Instrument and shall conUnue to occupy the Property as Bortower's principal � _
<br /> �� � res�dence tor at Ieast one year after the date of occupancy,untess Lender othervuise agrees in wriiing.which consent shall not . ;
<br /> � � he unreasonabty withheld,or uniess extenuating circumstances exist which are beyond Bortower's control. Bortower shall not ,
<br /> � • ' � dostroy. damage or impair the Property. eliow the Property to deieriorate. or commit waste on the Property. Borrower shail be in
<br /> � � defauit if any fortetture aetion or proceeding, whether uvil or crimintil.is begun ihat in Lender's good iaith Judgment Coutd result
<br /> -- . m toAerture ot the Properry or othervvlse matedally impair the lien created by this Security Instrument or Lender's security interest.
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