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<br />''� ' TOGETHER WffH all the improvements now or hereafter erected on the property. and a0 aasemrnts. a �
<br /> ppurtenancas. nrtd - - � °; .
<br /> ..f f�tures naw or hereafter a paR of the property.A!I replacements and edditions shaP a[so De covered try thls Secudty Inewment i ' � ` � , -' -
<br /> , • Aii af the toregoing is referred to in this Secu:iry Instrument as the'PropeRy.' : '• �
<br />..a BOAROYVER COYENANTS that Borrower is tar�tully seized of the estate hereDy conveyed und has tho nght to Qrent nnd � , ` . • ` �
<br /> �� convey ffie Properiy and that the Property is unencumbered, except tor enceambrances of record 8orrower wartants and w�ll � � ; �` .�`_
<br /> detend generaity the title to the Propercy against ail clsuns and demands. subject to any encumbrances o1 record. �
<br /> THIS SECUR(TY INSIRUMENT combines unitortn covenants tor nationaf use and non-unHortn covenanta wrth limrted� � �.
<br /> variations by jurisdiction to constitute a uniform security insbvment covering rea�properry. ' f , , �;�
<br /> UNIFORM COYENANTS. Borrower and Lender covenant and agree as follows: � , • _
<br /> 1. Paymen4 of Principal and lnferes� Prepayreent and Late Chargss.eorrower shau promPUy pay .vAen � .
<br /> due the prinapaf ot arsd intetest on the debt evidenced by the Note arsd any prepayment and Iate charges due under the Note. � , -
<br /> 2. Fund8 fOr TaxeS 8nd InsurenCe.Subject to applicable law or to a written waiver by Lender. 8orrower shali payG` ' '• �
<br /> to Lende�on the day monthiy payme�ts are due under the Note. urrtii the Note is paid in tull, a sum (°Funds•)tor. (a) yea �,' . . -
<br />_ taxes and assessments which may ariain prtodty over this Securiry Instrument as a lien on the Property: (b) yearly leaseho� � .. . �`('-i`'u
<br /> payments or ground rents on the Praperty. 'rf any. (c) yeady hamrd or pmperry insurance premiums: (d) yearfy flood insuran c — - -`=— -
<br /> premiums.'rf any. (e) yearly moRgage insurance premiums, it any: and (�any sums payable by Bortower to Lender m accordancG�p � , r�'. �
<br /> with the provisions of paragraph 8, in lieu of the payment of mortgage insurance prem�ums. Theso items are called 'Escro�° .� --_
<br /> Items.' Lender may, at any time. coDed and ha'd Funds in an amount not to exceed the mapmum amount a Iender for a =`� �'
<br /> tederally ret3ted mortgage loan may require for Bo;rower's escrow accour►t under the federal Real Estate Settlement Pmcedures • •`-�,+`='�
<br /> Ad of 1974 as amended from Ume to time. 12 U.S.Q 3 2607 et seq. ('RESPA"), unless another law that applies to the Funds ._.- :°"'-#.;T =_
<br /> sets a lesser amount fl so. Lender may. at any una, coileat and hold Funds in an amount not to exceed the tesser amount. � `-�
<br /> Lender may estlmate the amouM of Funds due on the basis of current data and reasonjsbie estimates of expendRures of tuture � � , �'�����
<br /> Esaow Items or otheiwise in accordance v+ith applicabte law. ..,.��,.r;, ----
<br /> The Funds shall be held in an i�slitution whose deposits are insured by a federa�agency.(nsVUmentality, or entiRy (inGuding . .'�p��3-�, ' "''
<br /> • j.;.,� :
<br /> Lender. 'rf Lender is such an instituUon) or in any Federal Home Loan Bank Lender shall apply the Funds to pay the Escrow � . • � :3�-'==�;�-_
<br /> � Items. Lender may -c,charge Bartower for hoid:ng and applying the Funds,annually analyang the escrow account, or verifying . •�-� —
<br /> the Esaow Items. v.aless Lende► Qays Bortawer interest on the Funds end appGcable faw pertnits Lender to make such a -_---_--
<br /> cherge. However. Lender may require Borrower to pay a onetime charge for an independent reat estate tax reporting service . , ;;�r�
<br /> used by Lender in connedfon with ttzs loan, unless applicable law provides othetwise. Uniess an agreement is made or �•-_
<br /> appticable law requires interest to be paid. Lender shall not be required to pay Bortower any interest or eamings on the Funds. �
<br /> �.� :��.
<br /> Borrowet and Lertder caay agree in writmg, how�s, that irrterest shall be paid on the Funds. Lender shall give to Borrower. • ; �
<br /> without charge, an annual accouMing of ffie F�r.:� showfig cred'rts and debits to the Funds artd the purpose for which Pzch • ��=�-.-`��
<br /> debit to the Funds was made. The Funds are p{e�yzd as additional secufiry tor all sums seared by the 3ecuriry Instrument. ` �`�` , �"ta:�::�_�
<br />,;.,;� tf the Funds held by Lender excQed the amounts permitted to be held by app6cable Iaw.L2nder shail accwunt to Borrower , :.,;," r, 'rm��_
<br /> tor the excess Funds in accordance w.'.,h the requirements of applicabte law. li the amount of Y�e Funds held by Lender at any •�:;�''
<br /> time is not sufflaent to pay ffie Esc:��v ttems when due, Lender may so notify Borower in w�'.i-�,and, in such case Borrower ��. ,r� ��� ^
<br /> ' shaU pay to Lender the amount necessary to rtmke up the defidency. 6orrower shail make up the deflciency in no more than '�F::�.,,,,,r , _ :�
<br /> .'� tweive monthly paymerrts.at Lenders sole d'iscre5an. • , ��;_,:,
<br /> { Upon payment in tull uf ail sums sewred by this Securiry Instrumen� Lender shali promyttv refund to Bonower arry Funds 'r�� ^ ••'-
<br /> held by Lender. It, under paragraph 21, Lender shall acquire or sell the Properiy. Leader, prior to the acquisitIon or sale at t`s . ,��;;�-, .��` +;�`�
<br /> ���; Properiy,shall apply any Funds held by Lender at tfie time of acguisitian or sale as a credh against the sums secured by t�r j ' �
<br /> ` 3ecurity Instrument ..:��'-., , � :� ' .
<br /> . 3. A�plteatton ot Payments. Unless applicabte taw Provides othewise, all payments recelved by Lender under �,�: , ;{
<br /> �;` paragraphs 1 and 2 shall be appiled: ftrst, to any prepayment charges due under the Note:sscond,to amounts payable under ��--- ~"+�,._�
<br /> paragraph 2:third,to interest due:fourtfi,to pdncipai due;and last.to any late charges due under the Note. �`�
<br /> 4. Ci�arges; Uena eorrower shall pay etl taxes, assessments, charges, ftnea and impositions attributabte to the �"3'`' ,_ -�
<br /> Property whtch may attaln pdority over this Securiry Instrumer�t, and leasehold payments or ground rerrts, if any. Borrower shall �-� 'it •
<br /> pay tfiese ob!igatlons in the manner provided in paragraph 2, or B not paid tn that manner.Borrower shaU pay them on Ume �' ,_ =• ,
<br /> directly to the persan owed payment Borrower shalt prompUy fumish to Lender aD noUces o!amounts to be paid under thfs �� �� �
<br /> � paragraph. 11 Bortower makes these payments directty. Borrower shail promptty fumish to Lender ►ece(pts evidendng tbe 'i�"'"-�
<br /> .�,r...
<br /> � payments. '.�r�-
<br /> � Boaower shall promptty discharge any lien whicb has pdority over this Security Instrument untess Bortower. (a) agrees fn • •<J!i____.
<br /> wr(ting to the payment oi ihe obGgation secured by the lien in a manner acceptable to L2nder. (b) eontests in good faitb the :• -:e-�p� '`°
<br /> ifen by, or detends against enforcament ol the Ben in, legal praceedings which In ihe Lender's opinton operate to prevent the ��''`��°`
<br />� enforcement of ihe aen: or(c) sewres from the holder of the Uen an agreement satisfactory to Lender subordinatlng the lien to �::.r,r�=--
<br /> thls Securfry tnstrument ff Lender detertnlnes that any paR o1 the Property Is subJect to a lien whlch may atteln pdority over thls ' �.
<br /> Securlty Inatrument, Lender may glve Borrawer a notice identifying the 11en.Borrower sha11 setlsty the tlen or take one or mote of � __
<br /> the actlons set foRh ebove withln 10 days o!the glving of noUce. ' • a r,. �': :' __
<br /> 5. Hazard O� P�OpePty InsurenCe. Borrower shall keep the improvements now exlsUng or hereafter erected on the '���� -
<br /> Property Insured against losc by 4re. hazards tnduded wfthln tho tertn 'extended eoverage' and arry other hamrds, InGuding
<br /> floods or 400ding,tor which Lender requlres Insurance. This Insurance shall be mefitalned In the amounts and tor the periods ���_��!
<br />. that Lender requlres. The insurance cartier provlding the insurance shall be chosen by Borrower subJect to Lender's epprovel ' i*-�_��—
<br />, whlch shall not be unreasonably wfthhetd if Bonower faiis to malntatn coverage descrlbed abova. Lender may, at Lende►'s ''��'
<br /> opUon, obtaln coverage to protect Lenders dghts In the PropeRy in accordance wfth paragraph 7. "� �` •-:. �
<br /> All Insurance pollcles end renewals sha0 be acceptabte to Lender and shalt Indude a standard mortgage dause. Lender �r• �:`••� -,-:• �
<br /> .t-�rs+ra-"--..,.�."
<br /> . shall have the dght to hold the poUdes and renewals. 11 Lender requUes.Bonower shall promptty glve to Lender aU recel�pts ot .,-...,,, ;. .,•......, i..
<br /> paid preMums and rertewa!noUces. In the event of Ioss, BoROwer shall ghre prompt noUce to the Insurance cartler and Lender. •,�:3�..':���,�.:�;s
<br /> Lender may make proot of Ioss H not made prompUy by Bonowec -. �,,A,:�;,�.
<br /> Unless Lender and Bortower otherwlse ayee In vrtlting, insurance proceeds shall be app9ed to restoraUon or re aU of the ��' ' : -
<br /> Properiy damaged. H the restoraUon or repalr is economlcally teasible end Lender's securi p ��.��=�'y�'°- � � -
<br /> ty is not lessened. If the restoraUon or
<br /> repaU Is not economlcalty feasible or Lender's security would be Iessened,the insurance proar�ds shall be applled to the sums ' ;•.1=�;;'.��`,;,, �', .
<br /> secured by tAls Security Instrument, whether or not then due, wlth eny excess pald to Bortower. Ii Bortower abandons the E•, �
<br /> Property.or does not answer wtthln 30 days e notice from Lender that the insurance cartfer has otfered to setlle e ctalm, then .
<br /> Lender may coUect the insurance proceeds. Lender may use the proceeds to repair ar restore the P►operty or to pay sums • •��'
<br /> secured by thls Security Instrument,whether or not then due. The 34day period wi0 begin when the noUce is glven. ' ��
<br /> . Unless Lender and Borrower otherwlse agree in wriUng, any applicaUon of proceeds to pdndpul shall not extend or .. •
<br /> postpone the due date o1 the maithiy payments retened to tn pamgrophs 1 and 2 or change the amount of the payments. It �� � -
<br /> under paragraph 21 the Property is acquired by Lender. Borrower's right to any insurance policies and proceeds resulUng from �� . . - _
<br /> damage to the Property pdor to the acquisitlon shall pass to Lender to the extent oi the sums by thls Sewrlty Instrument �
<br /> immed�ately pdor to the acquisiUon. __
<br /> 6. Occupancy, Preservation, Maintenance aod Protection of the Property; 8orrower's Loan . —
<br /> AppUeation; Leasehatds. 8orrower shall occupy, estsblish. end usa the Properry as Borrower's principal residence withln .
<br />� sixry Cays after the execuUon ot tris Securily tnsUument and shall conUnue to occupy the Property as Bortower's pr(ndpal
<br /> res:Cance for at least one year a°s the date of occupancy. untess Lender othenvise agrees e+ writing. whlch consent shall not ' � � �
<br /> be unreasonably withheld. or un;ess extenuating circumstances exist which are beyond BoTOwer's control. Bortower shall nol � •
<br /> destroy,damage o►irr:pair ihe Property. ellow the Property to detedorate, or commit wnste on the Properry. Bortower shall be in
<br /> � default if any foAei!use action or proceedng, whc,er eivil or c�iminal, is begu:^.:�at in Lender's good faith judgment could result .. ' '
<br /> in torlefture of the Propert��r or otherwise materia::;��Tvair the lie� aeated by th:s Security Inswment or Lender's security interest. •
<br /> Ft315.LMG(�H7� Paqr 2 ot 5 ��yf� � r �'' . ' _
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