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<br /> - . ' TOGE7NER W1TH alf the improvements now or hereafter erected ao the property. ana aii easemenis. a�uT�;�aar,o... °rd r--- - =—.�
<br /> fixtures now or hereafter a part of the property.AU replacements and additions shall also be covered by this Sewnty Instrument. ( , � "'�"
<br /> All oi the foregomg is retertad to in this Secar'sry InsUument as the °Property.' �. , ` . . . �_.
<br /> f.
<br /> BOAROVYEA COVENAMS that 8orrower is iawlully seized of the estate hereby conveyed end hes the nght to grant and � � . •=r
<br /> convey the Property and that the Property is unenambered. except for encumbrances of record Bortower warrants and wi11� , , ��
<br /> detend generatly the title to the PropaRy agalnst all ciaims and demands. sutrjecc to a�y encumbrances ot record. . ' • " ,q,j._
<br /> THIS SECLRITY IN3TRUMEM combines undortn covenants tor national use and non-uniform covenants with I�mited� , _
<br /> � vanatiuns by judsdicUOn to�constitute a unitorm securtry insUument covenng real property ' . . , •_
<br /> UNIFORM COVENAtJTS. Borcower and Lender covenant and agree as foliowc� a when � �
<br /> 1. Payment of Principal and Is�teres� Prepayment and Late Charges. f�orrower shall promptry p y , � ,
<br /> due the prinupa!ot and interest on the debt ev�denced by the Note anti any prepayment and iate charges due urtder the Note.�
<br /> 2. Funds for Tanes and Insuranae. Subject to applicable law or to a written waiver by Lender. Borrower shall pa� � t
<br /> to Lender on the day monthly payments are due under the Note. unUl the Note �s pa�d m tull. a sum ('Funds') tac (a) yeart� i '.F
<br /> taxes and assessments whict� may attaln pnority over this Security �nstrument as a liEn on the PropeAy: (b) yearly leasehol� __ ___ a_
<br /> ea hazard or ro e msurance premiums. (d) yearly(lood insuranc , ��
<br /> payments or ground rents on the Properry. 'rf any: (c)y dy P P nY � � �
<br /> premiums.if any:fe) YeartY mortg3ge insurence premiums, rf any, and(� any sums payabie by Borrower to Lender in accordance� �
<br /> with tfie provisions of paragrepfi 8, in fieu of the payment of moRgage insurance premiums. These items are cafted 'Esaow • --
<br /> (tems.' Lender may. at any time. coflect and hold Funds in an amount not to exceed the maximum amount a lender tor a .;,_—
<br />. mort a e loan ma require for Borrowet's esaow account under the federal Real Estate SeiGement Procedures �� _ . ._ .�,...� . _ °
<br /> federally related g g Y '
<br /> Ad of 1974 as amended from time to time. 12 U.S.C.�2601 et seq. ('RESPA'). unless another law that applies to the Funds .
<br /> sets a lesses amourrt. M so, Lender may. at any time, collect and hold Funds in xn amourtt not to exceed the lesser amount ` � ___`i,y-
<br /> Lender may estimate the amount of Funs�s �:°on the basis of current data and reasonable esdmates of ea�pend'Rures of tuture . .:.���,1-
<br /> Esaow ftems or oihervlis8 in accordanc2 with zppGcable law. �,N .
<br /> The Funds sha11 be hetd in an instiW�on whose deposits are insured by a federal agency. instrumentafity. or erttiry(induding , ;--��
<br /> Lender, if Lender is such an lr.stitution) or in any Federal Home Loan 8ank Lender shall apply the Funds to pay the Escrow •;
<br /> Items. Lender may not chasga 8orrower for hotding and apptying the Funds,annually anatyzing the escrow account,or veritying . ,_�. ..
<br /> the Esuaw Items. unless Lender pays Borrower interest an the Funds and applicable law pertnits Lender to make such a �
<br /> cha�ge However. Lender may requtre Borrower to pay a one-time charge tor an independent real estate tax reporting service . �`����
<br /> used 6y Lender in conneekon wfth this Ioan. unless appficable law provides otherwfse. Unless an agreement is made or :�' ;. .s._____':
<br /> app6cable law requires interast to be paid. Lender shall not be required to pay Borrower any interest or eamings on the Funds. � ,•:.;'��.i�"r--:._:,
<br /> ''�,i�dy�:
<br /> ' Bortower and Lender may agree in Hrtiting, however,that h�terest shall be paid on the Funds. Lender shall give to Bortower. ::,4�,., , ��j�s;�'_
<br /> � ,.,,. : -----rsr=
<br /> wfthout charge. an annual accaunting of the funds,showing crerlits and debits to the Funds and the purpose for which eaah _.��:,,�'..,
<br /> ,:',c;.; v �t�=
<br /> debit to the Funds was made. The FunQs are ptedged as additionat securiry for aIl sums secured by the Security�nswment ,,:,- ,�-,���
<br /> If the Funds held by Lender exceed the amo�nts pertnitted to be held by applicable law. Lender shali account to Bortower ,'�.
<br /> for the excess F�tnds in accordance wiih the requirements of appiicable iaw. If the amount of the Funds heid by Lender at any , � ��
<br />• . Ume is not suffldent to pay the Escrow ttems when dus, Lender may so notify Borrower in writing, and, in such case Borrower .•-•��`•rl•� ,�p�:t���. __
<br /> r.,.;., • . _.
<br /> 3., , LI':.."'�-.
<br /> shall pay to Lender the amount necessary to make up the deficiency. Bortower shall meke up the deticiency in no more than .;���,�.,•, ��;:� • ,. :
<br /> � twelve monthly payments.at Lendzr s sole discretlon. ���"� '='�.
<br /> U p on p a y n sent in tull of all sums secured by this Securiry Instrument, Lender shall promptly refund to Borrower anY Funds '-::r:..;;�;.,,•-�� , .-�
<br /> held by Lender. If, under paragraph 21.Lender shail acquire or seli the Property.Len der, prio r t o t h e a c q u i s i t i o n o r s a l e o i t h e .;,�,,�,,���'����,,. ;
<br /> Property,sha11 appiy any funds held by�.ender at ihe Ume of acquisition or sale as a credrt against the sums secured by this '.;; �, .•, '`'. '
<br /> ,,�r��f-. .
<br /> . Securfty Instrument "'" " —
<br /> 3. AppUcation m`f P2yn1efltS• Unless applicable iaw provides otherwise. ail payments rece[ved by Lender under '��'�'.ti: •`t;,:.
<br /> paragraphs 1 and 2 shaU be applied: ftrst, to any prepayment charges due under the Note; second,to amounts payable under i' �s .;
<br /> paragrap h 2;t h i r d,t o[n t e r e s t d u e;f o u rt h,t o p d n G p a l d u e;a n d l a s t.t o a n y l a t e c h a r ges due under the Note. � -��} . ��.
<br /> 4. ChBrges; UeQS. Borrower shail pay all texas. assessments. charges, fines and imposNons atlrihuteb�e to the ,��r _
<br /> , Property whlch may atialn pdartry over this Securfty Instrument, an d lease h o t d p a y ments or ground rents,if any. Borrower shali ��•.,.� __
<br /> pay these obllgaUons In the manner provided In paragraph 2, or B not patd fn lhat manner, Bonower shall pay them on time :r, � �� " �� i
<br /> � direcUy to the person aved paymen� BoROwer shall prompUy tumish ta Lender all notices of amounts to be pa(d under this f� :
<br /> paragraph. If Borcower makes these payments directly. Bortawer shall promptlyr tumish to Lender recetpts evidencing the _ '.';s�;,r;
<br /> payments. .
<br /> 8orrower shell promptty discharge any lien which has pdority over this Secudty instrument uNess 8ortower. (a)agrees in i"`
<br /> • writing to the payment oi the obligation secured by the Ilen in a manner acceptable to Lender, @) contests fn good faRh the _,: �••. ,:
<br /> lien by. or detends against enforcement of the lien in, tegal proceedings which in the Lender's opinlon operats tc prevent the �__�_ ' _•_ =-�s
<br /> enforcement o1 the Ilen; or(c) secures from the holder o1 the tien an agreement saUstactory to Lender subordtnating the Ilen to �y--=��.,__
<br /> this Security tnstrumenL If Lender determines that any pari of the PropeRy is subject to a Ilen which may attain pdorfry over this _ _. .
<br /> .�, Secutity InsUument,Lender may glve BoROwer a noUce identity(ng the lien.Borrower shall satisty the Aen or take one or more of _
<br /> � the actlons set toRh above wiihin 10 days of the giving of noUce. � _ �
<br /> 5. Hazard or PtOp0lty Insur'at1C9. 8orrower shall keep the improoements now exist(ng or hereafter erected on the
<br /> � RopeRy insured against loss by fire, hazerds Inciuded wilhin the term 'extended coverage' and any other herards, including �`�• ,�.,_�;-
<br /> floods or flooding,tor which Lender requires(nsurance. This insurance shail bs malntained in the amounts and ior the pedods �.�___���
<br /> • that Lender requires. The Insurance carrier providing the insurance shall be chosen by BorroNer subject to Lender s approvai y ti±�,-��� —
<br /> �;�:., _-- �.
<br /> � which shalt not be unreasonabty withhetd. It 8ortower}ails to maintein coverage described above, Lender may, et Lender's „ � y
<br /> ?:.. opUon,obtaln coverage to protect Lender's dghts in the Property in accordance wfth paragraph 7. `�i_. . � .°�
<br /> °� �;;:?: Ail Insurance poflGea and renewals shall be acceptable to Lender and shal! !nclude a standard mortgags clause. Lendet ._,� _,_--�---,�__,_.��
<br /> � ?<•1 shall have the dght to hoid the poticies and renawals. H Lender requ!res, Borrower shatl promptty glve to Lender all receipts ot l+ y.�,�1
<br /> �,r;,G}�''t9l?''^�-�..�
<br /> • paid premiums end renevlal noUces. In the event ot loss.BoROwer shail give prompt notice to the insurance carrier and Lender. :, y,�u_
<br /> Lender ma� make prool of loss H not made promptly by Bortower. i�t":",`,';"���`"�`Y�'^: � '�
<br />� � Unless Lender and 8ono►ver otherwise ag►ee in writing, insurance proceeds shal;be appAed to restoraUon or repair of the �t;,�,�,s;,• ,,,_. .
<br /> .� wa�}w .��..�.�:��..
<br /> �; ;li; Properry damaged,i1 the restoraUon or repair is ewnomicalty feasibte and Lender's security is not lessened. Ii the restoration or r,,. ,. , �� �� ,
<br /> � repalr is not economicaify teasiDte or Lendar's secur4y would be lesse�ed,the (nsurance proceeds shall be apptled to the sums '�,.�,,;,_�..,,,,_..-�
<br /> ' secured by this Security Instrumen� whether or not then due, with a�y excess paid to Bortower. It 8orrower abartdons the •--..;i._:,..,,.:_ _��_.
<br /> Properry, or does not answer wrihin 30 days a noUce finm Lender that the insurance cartier has oftered to settle a clalm.then .._..::�,.�,•r:,., 4�-�
<br /> , Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums , ,,;4,,;wti,.
<br /> secured by this Security Instrument,whether or not then due. The 30-day pedod wili begin when the noUce is given. � . ,.
<br /> Unless Lender and 8otrower otherwlse agree In writing, eny epplicaUon o1 proceeds to princtpal shall not extend or , �,..;;.�_„_'.
<br /> postpone the due date of the monthty payments refened to in paragraphs 1 and 2 or change the amount of the payments. li . . ' ' ��'•.
<br /> under para3raph 21 the Properry is acquired by Lender. Bortower's dght to any insurance policies and proceeds resultlng from •a'.""�'*�'""+�'Q'•� �
<br /> . , � �,_
<br /> � ' damage to the PropeRy prfor to the acquisiUon shall pass to Lender to the eMent of the sums by this Sewrity Instrument , —
<br /> immediatey pdor to the acquisklon. ,
<br /> � � 6. Occupancy. Preservation, Maintonar�ce ansl Protec4ion of 4he Property; Borr�suor's Loan • . ' �.'-`
<br /> • Applica4omn; Leeseh0ld9. Bortower shall occupy. estabiish, and use the Roperty as Bortower s pdnclpal residence within � • , �
<br /> � sixty days a`,fer the execuUon of this Security InsUument and shall continue to occupy the Property as Bartowers principal �_
<br /> residence for at least one year after the date of occupancy, unless Lender othervvise agrees in wriUng, which consent shall not _
<br /> ' be unreasonabty withheld,or unless extenuatlng circumstances exist which are beyand 8orrower s canVOl. Bortower shall not . °
<br /> � � destroy. damage or imp>_ir the Property. a11ow the Property to detedorate, or commit waste on the Property. Borrower shall be in • �
<br /> defauft if any fortetture aG.:on or proceeding. whether civii or cnminal,is begun ihat in Lender's good faRh Judgment could resuit . , . •C_'•
<br /> in foAeiture of ihe Property or otherwise materially impair the lie� created by this Securiry InsVUment or Lender s security i terest.
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