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<br /> � TOGETHER WITH all the Mprovements now or hereaRer ereCted on the praperty. and all easements, appurtenences, and �
<br /> Jiztures now or hereafter a paA of the property.All replacoments and additbns shall also be covered by this Security instrument. �
<br /> � All of the foregoing Is referred to in ihis Security Instrument as the "Property." i
<br /> { , BORROWER COVENANTS ihat Borrower Is IBwlully selzed of the estate hereby conveyed and has the right to grant and � �
<br /> convey the Property 8nd that Ihe Property Is unenCUmbered, exCept for encumbranCes 6f record. Borrower warrenls and will
<br /> � defend generally the title lo the Property against ali clalms and demsnds,subJect to any encumbrances of record. � ( , .
<br /> � THIS SECURITY INSTRUMENT combines uniform covenants for natfanel use and non-uniform covenants wilh limited � I ra
<br /> j variations by Jurisdktion to aonslitute a uniform security �nstrument covering real property. � - �
<br /> � UNIFORM COVENANTS. Borrower and Lender covenant and agree as foibws:
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<br /> � 1. Payment of Principal and Interest; Prepayment and Late Charges. 9orrower shall promptly pay when M.i�
<br /> due the principal of and Intoresl on the debt evfdenced by the Note and any prepeyment and late Chargas due under the Note. �
<br /> 2. Funds tor Taxes end Inaurance. Subject to applic8ble law or to a written wBNer by l.ender, Borrower shaY pay 4
<br /> to Lender on the day monthly payments flre due undar the Note, until the Note Is pald in full, a sum('Funds") far: (a)yearly �
<br /> taxes and assessments which mtly attai� p��ority over this Security Instniment as e lien on the Property; (bl yearty leasehold
<br /> � I payments or ground rents on Ihe Property, if any; (c) yesrly ha�rd or property insurance premiums; (d) yearly flood Insurance _
<br /> premiums, if any; (e) yearly morlgage insurance premiums,if any;and (f)any sums payable by Bortower to Lender in eCCOrdance -
<br /> w�th the provisions of paragreph 8, In Iteu of the payment of mortgage insurance premlums. These dems ere called "Escrow _-
<br /> Items." Lender may� at any Ilme,coilect and hold Funds In an amount not to exceed the meximum amount a lender for a ,
<br /> federally related mortgage loan may requlre for Borcower's escrow account under the federai Real Estate Settlement Procedures �' �
<br /> Act ot 1974 as amended frum lime to time, 12 U.S.C. �2601 et seq. ("RESPA"), unless another Iaw ihat applies ro the Punds ` �
<br /> sets a lesser amount. If so,Lender may, at any time, collect and hold Funds in en amount not to excAed the Iesser amount. 't,t!;:��;�;,c�
<br /> Lender may estimate ihe nmouM of Funds due on the basis of current deta and reasonable estimates of expenditures of tuture '. �+��W°"'-'_-
<br /> Escrow Items or otherwise in ecCardance with appl�able law.
<br /> The Funds shall be heid in an Institutfon whose deposits are hsured by a federal agency, Insirumentality,or entNy(Including
<br /> Lender, it Lender Is such an hstitution)or In any Federal Home Loan Bank. Lender shell appiy the Funds to pay the Escrow �`__�_�
<br /> Items. Lender may not charge Borrower for holding and applying the Funds, annually analyzfng the escrow account,or verifying •
<br /> the Escrow Items, unlesa Lender pays Borrower interest on the �unds and applicable law permits Lender to make such a
<br /> charge. However, Lender may require Borrower to pay a one�time charge for an independent real estate tex repoAing service .
<br /> used by Lender in connection wAh this loan, unless appl�abis law provides otherwise. Unless an agreement is made or
<br /> • appliCSble law requlres Interest to he peld, Le�der shail not be required to pay Borrower any interest or earnings on the F�.�ds �
<br /> Borrawer and Lender may ag�ee In writln9� however, that interest shall be pakl on the Funds. Lender shell gNe to Borrower,
<br /> without charge, an annunl accounting of the Funds, showing credRS and debAs to the Funds and the purpose tor which each
<br /> � debit to the Funds was made. The Funds are pledged as additional security ta all sums secured by the Securlty Instrument. .
<br /> If the Funds heid by Lender exceed the amounts permitted to be held by appl�abie law, Lender shail account to sorcower ,
<br /> �� for the excoss Funds in eccordance with the requkements of appl�able law. If the amount of the Funds held by Lender at any �_
<br /> time is not su8�ient to pay the Escrow Items when due,Lender may so notily Borrower in writing� and, in such case Borrower .,�,�.
<br /> shall pay to Lender the BmouM necessary to make up the def�ienCy. Borrower shell make up the deficfency in no more than ,
<br /> tweNe monthly payments,at Lenders sole dlscretlon. r=-,;.
<br /> � Upon paymont in full of all sums secured by this Security Instrument, Lender shall promptiy refund to Borrower any Funds .�r, �;;�,
<br /> held by Lender. If, under paragraph 21, Lender Shali aCquire or sell the Property, Lender, prlor to the acquisition or sale ot the ••:'-•'�•i`
<br /> Property, shall epply any Funds held by LAnder at the time o� aCqulsition or sele as a credit agahst the sums seCUred by this x;� 't`;��
<br /> _ Security Instrument. �•' I.r-'�'
<br /> 3. Appiicatlon Of Peyments. Unless appliCable lew proviues otnerwise, aii paymenis racaiwd i�y i.en�dnr �n�iar -: ,;.�.
<br /> paragraphs t and 2 shall be applied: tirst, to any prepayment charges due under the Note; second,ta amounts payable under � g�-
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<br /> paragraph 2; thkd,to interest due;fourth,to principal due;and last,to any Iate charges due under the Note, ^��. ;. .,
<br /> 4. Charges; Liens. Sorrower shall pey all texes, assessments, charges, ftnes and imposftions 6ttributeble to the ��� }??-
<br /> Property wh�h may attaln prlority over this Security Instrument, and leasehold payments or ground rents, if any. Ba�ower shaM �. !._
<br /> pay these obligatbns In the manner provided in paragraph 2, or If not pald in that manner, Borrower shall pay them on time ' �.�
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<br /> directly to the person owed payment. Borrower shall prompty furnish to Lender all not�os of amounts to be pald under this •
<br /> � paragraph. If Borrower makes these payments direCtly, Borrower shall promptly furnlsh to Lender recelpts evldenCing the
<br /> p8yments. -
<br /> ;, Borrower shall promptly discharge any Ilen wh�h hes priority over thls SeCUrity Instrument unless Borrower: (a) agrees In —
<br /> writing to the payment of the obligation secured by the Ifen In a manner acceptable to Lender; (b) contests in good tefth the ���`_-
<br /> lien by, or defends against entorcement of the Iien in, legal proceedings whiCh in the Lender's opinlon operate to prevent the ___
<br /> enforcement of the Ilen; or (C)secures from the holder ot the Iien an flgreement seNsiactory to Lender subordinating the Ilen to -_ __
<br /> this Security Instrument. If Lender determines that any part of the Property is subject to fl Ilen wh�h may etteh priority over this -
<br /> Security Instrument, Lender mey gNe Borrower a not�e Identifying the Ilen. Borrower shall satlsty the Nen or take one or mora of _
<br /> t the actions set torth above w�hin 10 days of the gNing of not�a. __-
<br /> 6. Hezard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on tne �-��_—_
<br /> � Property I�sured against loss by fre, hasards Inciuded within the term "extended coverage" and eny other hazerds, including =_= �
<br /> M floods or tlooding�for which lender requtres Insurance. This Insurance shaN be malntalned in the amounts end for the perlods -�;:-•�_.
<br /> that Lender requlres, Tho insurance caRler providing the insurance shaA be chosen by Bortower subJect to Lenders approval �,�;:��,�
<br /> which shall not be unreasonebly withhold. If Borrower faNS to maintain coverage described above, Lerder may,at Lenders _:.
<br /> option, obtaln coverage to protoct Lender's rlghts h the Property �n accordance with paragraph 7. ��--
<br /> All Insurance pollcies and renewals shall be acceptable to Lender and shall include a stendard mortgage cl9uso. Lende� • ~ � '��ya�.
<br /> shall have the right to hold the policies and renewals. If Lender requlres. Bonower shall promptty gNe to Lender at recelpts ol '�= h: , ��
<br /> paid premiums and renewal nolices. In the event of loss, Borrower shell gNe prompt notice to the insurance Carrier end Lender. �'�'k�_ ����
<br /> • Lender may make proof of loss if not made promptly by Borrower. �•�"•` }x,•``"',`
<br /> Unless Lende- and Borrower otherwise ag�ee In writing, insurance proceeds shall be appiied to resto�fltion or repak of the � • � �
<br /> ' PropeAy Gamaged, If the �estoratfon or repair is eCOnomiCally feasible and Lender's security is not lessened.If the restoration or I . ,
<br /> repaV is not econom�ally feasible or Lender's security would be lessened, the insurance proceeds shall be applied lo the sums
<br /> secured by this 5ecurity Inslrument, whether or not then due. with uny excess paid to Borrower. If Borrower ebandons the
<br /> Property. or does not flnswer within 30 days fl notiCe from Lender that the insurance Carrfer hes OHered t0 Settle a Cltifm, then
<br /> Lender may collect the insurance proceeds. Lender mfly use the proceeds to repair or restore the Property or to pay sums
<br /> ' secured by this Security Instrumen6 whether or not then due. The 30•day perbd will begin when the notice�s given.
<br /> � Unless Londer and Borrower otherwise agree in writing, any applicetlon of proceeds to prinCipal sh411 not extend or
<br /> � postpone the due date of the rnonthiy payments referred to In puragraphs 1 end 2 or change the emount of the payments. If '
<br /> j under paragraph 21 the Property Is acquired by Lender, Borrower's right to eny insurance polbies and procoedS resuiting irom I
<br /> � damage lo the Property p��or to the acquisition shall pass to Lender to the exlent of the sums by thl3 SeCUrily Inslrument �
<br /> i immediately prior to the acquisition. i
<br /> 6. Occupancy, Preservation, Maintenence and Protectlon of the Property; Borrower's Loan
<br /> Application; Leaseholds. Borrower shaM occupy,estsblish, and use the Property as Borrower's princpal res�dence wfthin �
<br /> _ .ti.. ........�y..� .,f �h:� Car��ri�v Inetn�manf nnd ehnli enntinua to or.r.unv thw Pmnadv as Bnrrowar's D�i�Cin01 i ..__ ..
<br /> • 5�air unju d••_ " e .: . -
<br /> . residence for`at leastvoneyyeer aNer the date of oCCUpnnCy, unless Lender olherwise agrees �n wrfting, whiCh consent shall nol
<br /> bo unrea�or.obly withheld, or unless extonueting cvcumstances exist which a�e beyond Borrower's control. Borrower shall not �
<br /> destroy. damage o� impair the F'roperty, allow tho Property to deter�orete. or comm�t waste on the Property. Borrower shell be�n �
<br /> defuult if nny (ortei(ure aCtion or proCeeding, whether CNiI or Cnmmnl, is begun thet m Lender's good faith judgmenl^,ould resuh '
<br /> �n forteiture of the Property o�otherwise materlally impa'r the lien cryated by lh�s SeCUr�ty Insirument or Lender'S seCUnty nterest. �
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