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<br /> _ _` ` . . TOGETHER WITH aU the improvemeMS now or hereafter erected on the proPertY, and aU sasements, appurtenances.and • --••.• . `� , ':,r....: :
<br /> � : ` ' fatures nox or hereafter a Part of the pmpartll•��D����^d 8dditions shall afso be covered by this SecuraY��strument
<br /> . � � `rs.�'
<br /> " Au of the icregomg is reterred to�►this SecuritY lnsriume�as the°Property' � ,
<br />- ' � BORROWER COVEI�}AN�S that Bortower Ls tawtulhr se@ed of the estate herehy conveyed end has the �Eght to grant end ,
<br /> � comrey the ProPertY and Mat the RroPeRY is unancumbered. ezceo!tar encumbrances of recorA. Barrower wartanis and wiU � _ : ` . .
<br /> detend generalry the U�t9 to the ProPeRY a8sinst aD Claims and de�"and'.subjeCt to eny encumbrances of record. � ` . . , .
<br /> . � , THIS SECURtTY INS�HUNlENT comDines un�ortn covenants tor nffiIOnai use and norwndorm eovenants wRh 1'ynrted � , f
<br /> � r �
<br /> ' � vaci9Uons by jurtsdictlan w constiNte a unifaan securityy insbument covering reai PropertY-
<br /> � UNIfO�Ii COVENAMS. Batrower and Lender covenant an e���� C�g�Borrower shali promP�hl PaY�en -
<br /> ' 1.Pay�ent of Principal and I�eres� P�ePaym . � .� �
<br /> ' due the pnncipal of and interest on the dabt evldenced by the Note and any pcepaYment and tate charges dne under tha Note. � �� ,
<br /> � 2.Funds tor Taxes and lnsarance•Subject to spplicab�e law or M a written watver by Lenaer.ea�rower snau pay
<br /> � � to Lender on Ne day monthry payments ere due under the Note. un�7 Me Note is O�d ��n•a Sum("Wnds")tar. (a)Y�Y �: . '.�._ . '_
<br /> — taxes and assassments whic h may a t t a i n p r i o ri t y o v e r t h i s S e c u ri t y I n s w m e n t �uuaa ce PretthitNtms A{�yearlyyflo d 'm�suraace -•
<br /> — � payme�ts or ground rents on the ProP�76 K�►Y: (a► Y�Y hazard or propertY ; '�`.�
<br /> . • . premiums.�`enY: (e)Ye�Y mortgage insurance Premiums,�eny;and(Q er►Y sums paYab►e hy Bortower to lender in accordance .•
<br /> ``` ` with Me pr�visions of paragreph 8, in Geu of the payment of moRgage u►surance premiums• These items are caRed "Escrow
<br /> �. ',
<br />- {tems" Lender maY. at a�►Y� Cottect end hold Funds in an amount not to ez�eed the max��n►um amount a lender fac a , "
<br /> , ` taderaiiy relate0 mortga98 Iosn may te4�ua tor Bottowefs escrow account undet the taderai Real Estate Settlr�to he Funds ,_ ��� ` ��=
<br /> ' � Act ot 1974 as emended irom tune to tune,12 U.S.C.�260t � seq. ('FiESPA"?. unless another taw that app
<br /> sets a tesssr amount If so,Lender may,at any time,coltect aed hold Funds in an amaunt not to exceed the lesser amoun4 ��.•'` 'r
<br /> ' t.a n d e r m a y e s t i m a t e t h e emount ot Funds due on the basis of curtent date and reasoneb�estunates°f�P�d��of tuwre
<br />-<i,. ' Escraw Items or oUtetwise in 8ccordance w�h apPGcable law. . , .r'_`
<br /> t;:` �'�.'..�:
<br />- � The Funds shaii be�etd in an fist�ution whose daposits ere u►sured by a fe6sral e9ency.��8 Fu�•torDaY 1hemCESCro'^f :
<br /> � . Lender. if Lender is such an institution)or in any Federal Hame Loan Ba�k. LBr►der sAall apPN '�:��:=:
<br /> the eserow account,or ver�ymg
<br />.}, ` �� items-Lenuer may not charge Borrawer tor hotding and apAfy�9 the wnds,annuairy anaty�n9 • . ':�
<br />_,.; , the Escrow ftems, untess Lender pays Sorrower interest on the Funds and appliceSte faw Oertn�s I.ender to make Such a '.."�,'
<br /> charge. HoNever, Lender may �equae Borrower to pay a anedUne chacge tor an independent real estate tex reDartin9 serv�Ce
<br /> used by Lender in connectton with this Ioan. un�ss apAlicabfe taw pro�ides otherwtse. Uniess an a9reement is made or .,� ,
<br /> <, � � applicabi9 Iavi requ'aes interest ta be Paid,L.e+�der ShaO not be requlred to DgY Borrower any interest or eammgs on thA Funds.
<br /> :,� Borrawer a�d Lender rt�ay a9re8 �r►writm9• however, that mterest sha0 be paid on tne Funds. Lender sha(1 give to Borcawer, =_ .�j.;;�_.
<br /> �: - wRhout charge. an annual accounUng of the Funds, showfig cced"Rs artd debNs to the Funds and the purpose for wh�Ch eacb '� �. �s�.�.
<br /> � � ted sd as add�tonat security for a0 sums secured by tAe Security Ustmment 3-�
<br /> '` debit to the Funds wes made. The Funds are p 9 »��;`��'
<br /> •��`- � If the Funds held by Lender exceed the amoun t s pertn i tt e d t o b e h e t d b y a p p l'.C e b t e taw.Lender shall account ta Bortower ' �:•d.
<br /> tor the excess Funds a�accordance wRh the�equirements of appficab►e Iaw.if the amount of the Funds held by Lender at any .�;;;,__
<br /> Cune is not sutticient to pay the Escrow Items when due,Lender may so noUty Bortower fn w�ir►9.end+ in such case Borrower ``�rr-�'�..-:ti:_
<br /> shafl pay to Lender th9 amouM rtec�sary to make up the deficiency. Borrower 5ha11 make up the Eeficiency In no more than G _
<br /> �' twetie mon!hry paymants,at L.eedefs sote discretion. '- ` ��' �
<br /> �efund to Borrower eny Wnds �.�,.-
<br /> • Upon paymer�t 1n tu�►et a0 sums secured by this SecuritY�nstrument,Lender shell promptly ,; :.�
<br />_ .� ; �
<br /> �= � � hetd by Lender. If,under paragraAh 2t,Lender sha0 acquue or seil the PropeRy,Lender,pdor to the ac4uisiNon or sale of the �,« �
<br /> e � - -
<br /> ��'�'`� Property.shaU appiy anY Funds held by Lender at the time ot acquis�ion or sate es a cred�against the sums secured by this ;. .�,;
<br /> . � ' Security InsOUmen� ,�°'.�~ ,�
<br /> . �..,
<br /> � ' '' 3. Application of Payments. un►ess aporcaaie law provides otherwise. s0 payments receivaa bY Lender under .. t:.�,�
<br /> t.,..___ .
<br /> paragraphs 1 and 2 shall be spp►ied: fust,to any preDaYment charges due under the Note;second,to emounts payabte under ,��.
<br /> 0�9�Dh 2;thUd,to interest due;fourth,to principal due;and last,to any laie charges due under the Note. • _ ;: ��;
<br /> ti; 4. Charges; 1-1e�iS. 8ortower Shall psy sil texes. essessm9nts, chetg6s. �es and h�Posidons 8ttnbutebie to the __
<br /> • Property which may attain Prlority over this SecurRyr �nsw�e��af N not paid inathat�manner.�6ortowerSShailnpaye�em on time J
<br /> ' - pay these oDligallons in the manner provided in paragrep r� -
<br /> I 'q dQectry to the person owed paymen� Borrower shatl promptly fumish to Lender ail notices of amounts to be paid under this , 5.,1��-
<br /> paragraph. If Borrower makes these payments dtrectry, Borrower sfiail promptry fumish to Lender recefAts eviQencfig the , �, �`_:
<br /> payments. - 'i'
<br /> Bortov�.er shall promptry dtscherge any lien which has priorityl over this Securiry fnstrument untess Borrower. (a)agrees fn , , ,i,:;r
<br /> � writmg to the payment ot the obligation secured by the lien in a manner acceptabte to Lender, (b)contests In Bood fafth 1he '�. ,L ,
<br /> lien by, or detends against en}orcement of the Itan in,legal proceedings which in the Lenders opinion operate to prevent the =
<br /> entorcemen�of the fien;or(c)seCUres from the hotder of the iten an agreement satlsiactory to Lender SubordinaUng the lien to _
<br /> this Securifi Insqument.If Lender detertnines that anY PaR of the Property is subject to a lien vrhich may Qttain Driority over th(s
<br /> Security Ins�ument,Lender may give Borcower a notice tdentirying the 8en.Bortower shall setisfy the tien or take one or more ot
<br /> the actions set foRh above wRhin l0 days of the giving Ot notiCe. � . .� � • `
<br /> '� . 5. Hazard or P�operty Insurance.8ortov+er shall keep the improvements now existing or hereafter ereCted on the .
<br /> Property tnsured a9ainst loss Dy flre, ha�rds inciuded withtn the tertn'extended coverage" and any other hazarGs, inCludin9
<br /> � tloods or flaoding,tor which Lender requires insuranCe. This insufence shall be maintained in the 8mounts end for the Deriods �
<br /> ' : � that Lender requires. The insurancWrtarrle� pf�Bo ower 1a(Is ocmalntain cove�age des8�ed eabovejBLender mayeat Lende s' � ,
<br /> � whkh shaU not be unreasonab�y
<br /> ' option,obtain coverage to protect LendePs rights In the Property U�accOrdence with Oer89�ePh 7. -
<br /> � !-1• AII insurance policies an0 renewats shall be acceptabie to Lender and sh311 Inciude e standard mortgage clause. LenQer , . ..
<br /> shail have the right to hold the policies and renewaLs. If Lender requUas.Borrower shall promptly give to I.ender all receipts ot
<br /> paid premh,ms and renewal notices. tn the event of loss, 8ortower shati give prompt nottce to the insurance carrier and Lender.
<br /> • ' ..� Lender may make proof ot loss if not m8de promptty by 8onower.
<br /> Unless Lender and Borrower othervrise agre9 in writing, insurance praceeds shatl Oe applied to restoretion or repaU o/the
<br /> . , ; PropeRy damaged, if the restoration or repair is economicatty feasib►e and Lendefa security Is not lessened. If the rostoration or
<br /> ' • � • = repair is not economically teasible or Lender's security would be lessened,the insurance proeeeds shall be applied to the sums
<br /> secured by this Security Instrument, whether or not then due. w(th any excess paid to Bortower. It Bonower abandons the
<br /> PropeRy. o� does not answer within 30 days a notice from Lender that the insurance canler has ottered to sett►e a clalm,then .
<br /> • � � Lender may collect the insurance proceeds. Lendar may uss the proceeds to repair or restore the Property or to pay sums
<br /> secured by this Secur'rty In&trument,whether or not then due. The 34day period wiil begin when the notice is given.
<br /> � ! Untess Lender and Borrcwer othenvise agree in writing, any application o1 proceeds to princ�al shall not extend ot
<br /> . � under�para�aph 2 at�e Property�sta qu ed by Lende4d8ono ersgight t�anYa sura ce poliCies and p oC edsere uRing trom �
<br /> � .� � � damage to the Property prior to ihe acquisition shail pass to Lender to the extent of the sums by this Security Instrument '
<br /> immediatety prior to the acquisition.
<br /> ' ; 6. Occupancy, Preservatton, Maintenance and Protection oi the Ptoperty; Borrower's Loan
<br /> � Applicetian; Leaseholds. Bonower shall occupy. establish,and use the PropeAy as Bonower's principal resldence withln
<br /> �1�, saly days after the execution af this Security Instrument end shall continue to occupy the PropeAy es Bottowers princ�al
<br /> ' , resldence 1or at least one year after the date ot oCCUpancy, unless LendB� otherw�Se agrees in wrding, whiCh COnS9nt Shall nOt
<br /> - be unreaso�abty withheld,or unless extenuating CirCUmstanCes exlst w�iCh ere bey0�d 8orrower'S Controt. Borrower shall not .
<br /> destroy,da�nage or impatr the Proparty.a�low lhe Property to dotenorate, o�commd waste on the Property. Bortovler shall be��
<br /> .�`'� m foAert er ottthe Pr perty or�otherwse materially �mDui ther�ien c ea'tetl by9hs'Securrty0nstrument or'Lender'S seCUrilYU�nterestt
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