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<br /> TOQETHER W17?-I aU the improvements now or hereaftct erected on the property. and ail easements, appuRenances. and s�� ..
<br /> �i fixtures now or hereafter a paR ot the properry. "' et,r '' �'�'�'�^^s�n?�� a�so be covered by this Security ��sUument. — _ -�
<br /> sm r iai.���c��w 4° { .
<br /> � AII of the foregoing�s referred to in this Security Instrument as the"Property" f • � � T --
<br /> BORROWER COVENAMS thet Bortower is law1uliy se¢ed of the estate hereby conveyed and has the nght to cyant and _
<br /> , convey tlie Property and that the Praperty is unencumbered, except for encumbran:,es of record Bortower warrants and wd1 �: � � k,� -�~
<br /> � detend generalty the tiUe to the ProPeriY bines unitortns o ertant�tor naUonalt useyand on-unitvrmf covenants with fimRed � ,. ,
<br /> THIS SECURITY iNSTRUMENT c , �
<br /> . variations by junsdiction to canstitute a unifartn securiry instrument covering real propeAy. � . `'._-� :�
<br /> UNIFORM COVENAM'S. Borrower and Lender covenant and agree as follows: � p P��Y � • � � �
<br /> 1. Paymeest of Rr+n�i�al and Interes� Prepayment and Late Cha es.eorrower sha�i rom wne. _ _
<br /> due the prinapal of and interest on the debt evidenced by the Note and any prepaymerrt and tate charges due under ths Note � , `:-
<br /> 2. Funds for Taxss a�d In su r a n e e. S u b j e c i t o a p p l i c a b l e I a w or to a wntten waiver by Lender.Borrower shail PaY I . . •:��;,
<br /> to lender on the day monthly payments are due under the Note, until the Note is paid in fuil. a sum ('Funds')ior. (a) yearly : _ ..�;n�
<br />' taxes and assessments whtch r+�ay atlain Pdorit�! over this Searity lestrument as a Gen on the Property: lb) YeartY leasehold� C°�--�_
<br /> � payments or ground rents on the Froperty, it anY. lc) YearlY harard or properry insurance premiums: (d) yeariy flood insurance O � _ -
<br /> � premiums.'rf any: (e) yearly mortgage insurance�remiums,if any,and(�any sums payahle by Borcower to Lender in accordance r. ,
<br /> with the provisians of paragraph 8, in lieu of the payment of mortgage insurance premiums. These items are called 'Escro�v0 �
<br /> Items.' Lender may. at any time. collect and hold Funds in an artiount not to exceed the maximum amount a lender tor a� ��. �_
<br /> � federaUy related mortgage loan may reQuue for 8ortowers escrow account under the federai Real Estate Setttement Procedures� _ Y ---
<br /> " Ad of 1874 as amended trom time to time. 12 U.S.C.�2601 et seq. ('RESPA'). untess another law that appiies to the Funds� _ __
<br /> sets a lesser emount If so. Lender may. at any time, collect and hold Funds in an einount not to exceed the lesser amount -_
<br /> , Lender may estimate the amount of Funds due on the basis of curteM data and re.asona6ie estimates of expenditures of tuture . _____
<br /> '� Escrow Items or othervvise in accordance with applicable Iaw. . .
<br /> The Funds sha(I he held in an insGhition whose deposils ere insured by a tederal agency.inslrumentalily, or�tiiy[mduding .
<br /> Lender, if Lender is such an Institution) or in any Federal Home Loan Bank Lender shail apply the Funds to p�y the Escrow ;� �;.;
<br /> the Funds,annualty analyung the esaow accoun� or verifying " Rr`� r�.
<br /> Items. Lender may not charge Horrower tor holding and applykig - _.
<br /> <<i� the Escrow Items, unless Lender pays Borrower trterest on the Funds and applicahte Iaw pertnits Lender to make such a . _
<br /> charge. However, Lender may require 8orrower to pay a onetime charge tor an independent real estate tax reporiing service x. � �`
<br /> • used by Lender in car��don with this loan, unfess appficabie law provides o2hervvise- Unless an agreemErtt is made or _
<br /> appGcabte law requirr-s ir.�rest to be paid. Lender shsll not be required to pay Borrower any interest or eamirtgs on the Funds. � �,: __..
<br /> , Eorrower end Lender may agree in writing. however, that(nterest shalt be paid an the Funds. Lender shail give to Bartower, ;�f=�':;;• — ..,,;.x___ .;;
<br /> ..s. - __._
<br /> without ch��ge, an ennual accounting of the Funds, showing crediis and dehiGs to the Funds and the purpose for which each _ '
<br /> debft to';`=!=unds was ma8e. The Funds are pledged as addiG'ore�J securiry for aU sums secured bv the Security Instrument. A'
<br /> If tRe tunds held by Lender r�cceed the amounts permitted tv t_held by applicabte law.Lendfir shall aecount to BorrovrEr _ _ y _
<br /> for the excess Funds in accordance v�ith the requlrHrents of appiicable taw. If the amount of the�-u~ds held by Lender at arry y���.�.;�;�,,"..
<br /> time is not suffident to pay the Esaow Items when due, Lender may so notify Borrower in writing, and, in suc+i r,�se Borrower _
<br /> , shall pay to Lender!he amount necessary to make up the deficiency. Borrower shall meke up the deficiency�n no more than ,;�, _,.r _
<br /> ' twelve mo�'�fly payments,at Lenders sote discretion. � ��'�� �-%
<br /> ':°"r'i� UaDn paymeM �n tu�� of aq sums secured by this Security Instrumeo� Lender shatl prompUy reiund to Bortower any FunQS _ �`"'�� ,� '�,,
<br /> '�z� �� hetd by L.nder. If, under paragraph 21. Lendes shdl acquire or seil the PrapeRy. Lender,pdor to the acquisNon or sale of the - r� . -
<br /> �9�'-. „ ;
<br /> Property,shall aDPN�`J���held by Lender ai:;,s�'ie of acquisttion or sate.as a cred'R against ihe sums�i�:'ed by'�.� �1��� 'r,,,�,?.. ;: - .,. '--
<br /> . Security Instrument /`F,_•,` .
<br /> f�3s ; '�'�. .
<br /> �, ��y({�m� � payf4l@Y148. Unless a�pii�,hL �a�v Govides othe!-xre, all payments received t�j ?.e�der undet . . .
<br /> pazagrtp?ss 1 a��2 shsl!be appGz�* first,to any prepaymertt C.:i;2s�=e s'�aT the Note:second,to amounts�ayab�e unc� ���+r ;,. __s_
<br /> ' paragraph 2;ttiv�i.Eo b:ta:ast due; f3�'r��,to pdncipal due;and tss:.:�a�y kate eharges due under the Nota � �`;e;:,.:
<br /> � 4. �°oarge� Ili:mh9- Borrower shall pay all taxes, ass3ssments, cha:y�, flnes and impositlons attributa6le to t5e ,�.•,:-_,
<br /> PropeAy which may aT�ain pdoriry over this Security Instrument,and leasehold pa�.^ients or ground rents, H any. Bo►rower shall _ �,
<br /> pay these obGgaUons in the manner provided in paragraph 2, or H not paid tn �at manner. Borrower sha11 pay them on Ume i, _._ „ .
<br /> direcUy to the person owed payment. Bortower shall promptly fumish to Lender all notices of emouMs to be paid under this f��-
<br /> paragraph. li Borrower makes these payments d'uedly. Bortower shail promplly fumish to Lender receipts evidencing the _ —
<br /> payments. ,��
<br /> 8ortower shatl promptly discharge any lien whicb has pdority over th(s Security Instrument un[ess Borrower. (a)agrees in a-t'- . _
<br /> �vriUng to the payment of the obiigaUon secured by the Ilen in a manner acceptable to Lender, (b) corttests in gaod taith the � ,__
<br /> Ilen by. or defends against entorcement of the Iten in, legal proceedings which In the Lender's opinion operate to preverrt the ,, a_ .
<br /> erttorcemer►!of the Ilen; or(c)secures irom the holder of the Qen an agreement saUsfactory to Lender subord:��.i�3 the lien to --+='
<br /> � this Security Instrumen4 if Lender datermines that any part of the Praperty is s•�bject to a Iten whicfi may attain p�iorRy over this •�.,� _- �.� �-�- �
<br /> Securtt�j Snstrument, Lender may give Borrower a noUce Identitying t~e Iten. Borrower shali saUsty the Ilen or take one or more c:7 ',� _ ��-•
<br /> rr�.:--•- �:.
<br /> - the aC'.i�.s set torth above v►�thin 1�Cays of the giving of naUce. _ --��-
<br /> • 5. Hazard or Property Insurance. Borrower shall k•aep the Improvements now ex�g or hereafter erected on t`z �� ���-�;• ;-�s:_
<br /> ', Property insured aga(nst loss by fire. hazards inc(uded wfthin the tertn "extended coverage' and any other hazards, including ; '`�°�� '•:• , -�
<br /> . ��:.� ' �:���
<br />� floods or flooding.tor which Lender requires insur�ae. This Insurance shall be maintained in the amounts ert�for the periods �
<br /> • that Lender requires. The insurance carder pra�'di-;�the insurance shaii be chosen by 8ortower subJect to Ltimder's approva! v��;4: .'.. �,' ;
<br /> wnid� shall not be unreasonably wlthheld. If �s-owe�tafls to m¢intain coverage described��ove. Lender may. at LenQEr's �
<br /> '�4�;'�iri-t"-
<br /> � c,.��^. vttaln coverage to pratect Lender's rights::*.:�e Property ir.accordance with paragreph 7. „ ,,�,.
<br /> :191 nsurance potides and renewals sha0 b� 2,cepteble to '_��er and sha�t fnetude a s�ndard moRgage ciause. Len�ar _ ��I�M��—
<br /> shafl have the dg':?aa'^old the poRcies and re.�3ais. B Lender requires. Borrews�er shall promptty give to Ler.Gzr aU receipts of 1; � : -�_:
<br /> pald premlums ar.d r�-f=rral nodces. In the ever.t cf Ioss,Bortower shall give�-a:�?: notice to the insurance�rrier and Lender. , v
<br /> Lender may m31ce pr�a`.of toss if not made prompUy by Boaower. 'w � � ` �
<br />� � Uniess Lender and Borrower a:'�erwise agree in w►iUng,insurance proceeds shall be a�p�ed to restoratlon or repa(r ot ihe `Y�=��;;,.:,
<br /> +:s:.._�.,�:. .
<br /> , PrnpeRy damaged,it the restorattci a repair fs economically feasibte and Lender's security is not lessened. H the restore�c�cr =_-
<br /> repair is not economicalty feasible or L�nder's security would be tessened,lhe insurance proceeds shall be applled to the���s :�u'±.���"•����r .
<br /> seuued by this Sec+.a�ty InsUument, wfnether cr r,ct then due, with any excess pald to Bortower. If Borrower abandons the ., '������. �_
<br /> Properry, or does n�:��swer within 30 days a nc::oa from Lendet that the in;.u�..nce cartter has otfered to sE,.�':.e a clalm, then �.�,,;y��,:�p��,.��;-�„':
<br /> Lender may collect tt:e insurance proceeds. L�c'Cer may use the proceeds to repair or restore the Properry c� to p3y sums , �A " -
<br /> � sec��ed by this Security Instrument.v t-ether or not then due. The 30-day perlod w�l begin when tt�e noUce is�:ren. _ �i�",,�:
<br /> ;ir.�_ss Lender and BortowEV c,'ervvise agree in wriUng, any appiication of praceeda to pdncipal shz:� not extend o� �;�s�.—,.-_
<br /> pcs�r'.a'.3 the due date o? the mor.�hiy payments referted to in paregraphs 1 and 2 or change�.'.e amount ot the payments. If ;..:.��_�°°=
<br /> under paragraph 21 the PropeAy is acquired by Lender. Borrower's Aght to any insurance policles and proceeds resuldng hom , . .
<br /> . • damage to the Pro�crty P�lor to the acquisition shall pass to Lender to the exlent of the sums by this Securiry �nstrument ,
<br /> immediatery prior to the acquisition. � � , ` �
<br /> _ 6. Occupancy. Preservation, MaiMenance and Pro4ectio� of the PropeRy; Borrowor's Laan . ; �'
<br /> Appliea4ion; Leaseholll8. Bortower shall occupy.establish. and use the Property asthertProee Pas iBorrowieres prinGpal ' � �
<br /> � sixly days after the execution ot ths Securiry Instrument end shall conUnue to occupy D rtY .
<br /> ' residence for at least one year after the date of occupancy.unless lander otherwlse agrees in wriqng. which consent shail not
<br /> . be unreasonabty withheld. or uniess extenuating circumstances exist which are boyond 8orrower's conUol. Bortower shall not . .
<br /> desVOy.damage or impaEr the Property, allow the Property to detedorate. or eommA waste on the Property. Borrower shall be in ' ' �.. �.:
<br /> • � default if any foAeiture action or proceeding. whether civil or criminal, is begun thet in Lender's good faith judgment could result � �`�^y
<br /> � in foAeiture of the Property or otherwise materially impair the lien created hy this Security Instrument or Lender's security interest. . , �
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