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<br /> �.,f � `����y he � rovemenis now or her2a8er erected on EAe property. and all easements. apAu►ienances. and -
<br /> , • .� . TOGETHEA WffH all t unp . '` . "
<br /> �fucWres now or hereafter a part of the propeAy.All repiacements and additions sha�i also be covered by this Security Instrument _ _,�;,. ,'_ ;.
<br /> � All of the foregoing�s reterred to in this Seeuriry�nstTUment as the'Property'
<br /> - BOAROW@i �GOVENAIVTS that Borrower is Iawtuty seaed of the estate herebY canveyed and has the nght to grant and
<br /> - � � , convey the Property and thnt ihe Property is unencumbered. except for encumbrances ot record Bortower warrants and wID ,.,-`+
<br /> ` `,, detend generairy the title to ttie PropeAy against ell daims and demands.subject to any encumbrances af teeord ,��.
<br /> THIS SECURITY INS7RUMENT comhines unNortn covenants for national use and non-unAortn covenants with limited :��`�� "
<br />_ � variations by judsdictlan to constitute a undortn security inst�ument coveaing rea�ProPe►tY• �i '
<br /> ` UNIFORM COVENAM1ITS. Borrower and Lender cavenant and agree as touaws: a when � . . � '
<br /> r � � 7. paymen t o f Pr i n c i p a 1 a n d t M e r e s 4; Pre p a y r r+ent and L.a4e Charges.eorrower snau promPUy p y .
<br /> due the pr(ndpal of and intecest on the debt evidenced by the Note and any prepayment and late charges due under the Note. ' e:
<br /> . 2. Funds 9or Taues and le�surance. Subject to appGrable Iaw or ta a written waiver by Lender. 8ortower shall pay f
<br /> .�'� �
<br /> to Lender on the day monffily payments are due under the[�lote, until the Note is pald in tull.a sum ('Funds')�� ��eho d � � �
<br /> `" taxes and assessments which may attain p�lorily over this 8ecvrity Instrument as a lien on the PropertY: (b) fl��nsurance � s
<br /> -+- ents or round rents on the Property.'rf any: (c)yeady harard or property insurance premiums: (d)yearly ' � .
<br /> - - --- paYm 4 —
<br /> ` � . . premicros.if any. (e)YearN mortgage insurance premiums.it any,and (f1 anY sums payabte lsy Bonower to Lender in aecordance � �
<br /> _ . - with the provisions of paragraph e, in fieu of the payment of moRgage insurance premiums. 'These items are cal!ed "Escraw �
<br /> ftems.' Lender may. at any time, coiteet and hNd Funds in an amount not to exceed the maximum amount a lender tor e �
<br /> c � , ` � � f¢deralty related moRgage loan may require for Borrower's escrow account under the tederal Real Estate Setttement Procedures � ; .
<br /> f;, RESPA"). unless another law that appGes to the funds
<br /> Act of 1974 as amended irom tlme to time.t2 U-S.C.�2501 et seq. ('
<br />~`.� � � '' sets a lesser amount. M so. Lender may. at any time. co��e�t and hold Funds in an amount not to exceed the lesser amaunt. � -:�
<br /> .,,� ; • Lender may estimate the amount of Funds due on the basis of curtent data and reasonabie estimates ot e�end'rtures ol(uture N .`- „�
<br /> � Esaow items or othervvise in accordanee with applicable law. ��gp�mental" or en mctudin =? �
<br /> •� The Funds shait be held in an ins ti tu tion w h o s e d e p o s�t s a r e i nsured b y a federai ag�ay RY• t'h� � 9 ,
<br /> ' Lender, if Lender is such an institution) ar in any Federal Home Loan Eank Lender shall apply the Funds to pay the Escrow ���`'��, :
<br />` Items. Lender may not charge 8orrower tor holding and apptying the Funds,annuaity ana►Ya�9 the escrow accourrt,or v�itying , . ___
<br />.,4,°, ` � • the Escrpw Items, unless Lender pays Bortower interest on the Funds and applicxble law pertntts I.e�+der to make such a
<br /> � I � charge. How�ver. Lender may require Bortower to pay a one-time charge for an independent real estate tax reporting senrice ( _
<br /> ! . . used by Lender in eonnection with this ioan, untess apPGcc�b�e law provides othenruise. Untess an agreement is made or .,�.
<br /> : , �•,.� Borrower an interest or eamfngs on the Funds. ` �
<br />`!; appficab�e taw requires interest to be paid.Lender shalf not be required to pay Y `
<br /> • � i� Borrower and Lender may agree in writlng, however. that tnterest shaif be paid on the Purtds. Lender shalt give to Borrower.
<br /> ;`..t . .�.�,;�i
<br /> without charge.an annual accounting ot the Funds. showi.�g crediGs and detirts to the Funds and the purpose for which each
<br /> �� � � - �=t debR to the Funds was made. The Funds are pledged as edditionai securily tor ali sums secured by the Securiry Instrument .,,y.
<br /> � if the Funds held by Lender exceed the amounts permitted to be held by applicabte faw. lender shsU account to Borsower �
<br /> " _ ,�;=� tor the excess Funds in accordance witb the requiremer►ts of applicabie law. If the amount of the Funds held by Lender at any . /;�,}
<br /> time is not sutficient to pay the Escrow Items when due. Lender may so notity Borrower in writing, artd,in such case Borrower � .�
<br /> shall pay to Lende►the amount necessary to make up the defiaency. Bortower shail make up the deficienoy in no more than �.' ;`-T�
<br /> _ -ta.___--
<br /> _ ' . . .- twetve monthry payments.at Lender s sate discretion. _� . :--.:��-
<br /> � Upon payment in fisil of ali sums secured by this Security Instrumen� Lender shait promptty returtd to Bonower any Funds ,
<br /> � . � held by Lender. Ii. under paragraph 21. Lender shatl acquire or seU the Properry. Lender. prior to the acquisNon or saie ot the ��;._�
<br /> • . Property.shall apply arry funds held by Lender at the Ume of acquisition or sate as a aedit against the sums secured by tfiis .. r,�.Y'_ __
<br /> . . Security Insttument .�'��f�
<br /> � $, pppiication of Payments• Un►ess appficabte law provides otherwise, all payments received by lendmeunder : �;����
<br /> paragraphs 1 and 2 shatl be appiied: fir�t,to any prepayment charges due under the Note;second,to amounts paya _
<br /> paragraph 2:third.to interest due: fourth,to prinapaf due:and last. to any late charges due under the Note. . ,�•.^p�
<br /> . 4. ChelgOS; Uens. Borrower shail pay all taxes, assessments. eharges. fines and impositions ariributable to the ` Y.-;
<br /> � PiropeRy which may attain ptiority over tt►is Secur(ty Instrument,and leasehoid payments or ground rents. 'rf any. Borrawet shall _
<br /> ��'1 � pay these obligations in the manner provided i� paragraph 2. or if not paid in that manner. Boaawer shali pay them on time ���`
<br /> ` . ' �� direcUy to the person owed payment. Bortower shali promptly fumish to Lender all notiees o1 amaunts to be pald under this ;.':t�`r,
<br /> .. _ _°,v..
<br /> � . paragrapb. Ii Borrower makes these payments directly. Bortower shalt promptly tumish to Lender receipts evidencing the _
<br /> -i:,_.
<br /> payments. . :��-
<br /> Bortower shall prompt�y discharge any lie� which has priority over this Security Instrume�t unless Borrower. (a) agtees in �.;�.
<br /> � writing to the payment o1 the obligation sewred by the iien in a manner acceptabie to Lender. (b) contests in good faRh ihe ,
<br /> � � tien by. or defends against enforcement of the lien in. legal proceedings which in the Lender s opinion opemte to prevent the _ , ��� .'�'�,'—
<br /> entoreement of the lien: ar(c)secures from the holder of the lien an agreement satisiactory to Lender subordinating the lien to � -
<br /> this Security Instrument. H Lender determines that any part ot the Property is subject to a Ifen whieh may attain priority over ihis .
<br /> Securily tnstrument. Lender may give Borrower a notice identifying the lie�.8ortower shall satisfy the lien or take one or more of
<br /> �':,"� _ � the actions set foAh above w(thin 10 days ot the giving ot notice. . � -
<br /> 5. Hazard or Property insurance. Bortower shall keep the fmprovements now exlsting or hereafter erected on the .
<br /> • PropeAy Insured against loss by fire. hazards inctuded within ihe term 'extended wverage' and any other hazards. inctuding - .:.,,-
<br /> tioods or itooding.for whiefi Lender requires insurance. This insurance shall be maintained in the amounts and for the periods ..
<br /> ��r;, � • that Lender requUes. The insurance carrier providing the insurance shall be chosen by Bortov�er subject to Lender's approval • .
<br /> �• �; � which shall not be unreasonabiy wilhheld. It 8orrower taits to maintain coverage described above. Lender may. at Lenders .. _
<br /> • � option,obtain coverage to protect Lender's rights in the Property in aecordance with paragraph 7. • :
<br /> ' � All insurance policies and renewals shall be acceptabie to Lender and shail include a standard mortqage ciause. Lender
<br /> �� shall have the right to hold the policies and renewals. Ii Lender requires. Bortower shali promptly give to Lender all receipts of ,_ . �
<br /> � � � paid premiums and renewai notices. in the event of loss. 8ortower shall give prompt notice to ihe insurance cerrier and Lender.
<br /> � � Lender may make prool of loss if not made promppy by Borrower. ,
<br /> � ; Unless Lender and Borrower othenvise agree in writing. insurance proceeds shail be applied to restoration or repair of the
<br /> Properly damaged. il ihe�estoratlon or repair is economicalty feasible and Lender's security is not lessened. I}the restoration or
<br /> � '• repair is not economicatry feasibte or Lender's security wauld be lessened,the insurance proceeds shall be applied to the sums
<br /> secured by this Security Instrument, whether ar not then due. with any excess paid to Borrower. II Borrower abandons the .
<br /> Property. or does nol answer within 30 days a noUce lrom Lender that the insurance carrier has oHered to seltle a ctalm.then
<br /> ; Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the PropeRy or to pay sums
<br /> secured by thls Security Instrumert. whether or not then due. The 30 day period wilt begin when the notice is given.
<br /> , � � Unless Lender and Borrower otherwise agree in writing. any app��cation of proceeds to principa� shall not extend or . .
<br /> � postpone the due date o1 the monthly paymenis reterred to m paragraphs 1 and 2 or change the amo��nt of the payments. If
<br /> • . under paragraph 21 the Property is acquired by Lende►. Borrower s rigM to any insurance policies and proceeds resulting from
<br /> � damage to the Property prior to the acquisition shall pass to Lender to the extent o1 the sums by this Secunty Instrument
<br /> � � immed�ately prior to the acqmsition.
<br /> .. . : 6. Occupancy. Presenration. Maintenance and Pratection of the Property: Barrower's Loan
<br /> . ' � Applieation; LBe8ehOldS. Borrower shall occupy. establlsh. and use the Property as Bonower's principal resldence within
<br /> i sixly days after the execution ot this Security Insirument and shall continue to occupy the Properry as Borrower's principal
<br /> ! residence tor at least one year after the date ot occupancy. unless Lender otherwise agrees in writing. which consent shall not
<br /> . be unreasonably withheld. or untess extenuating cfrcumstanCes exist which are beyond Borrower's control. Borrower shall not
<br /> � destroy. damage or impair the Property. allow the Property to deteriorate. ar commit eraste on the PropeAy- Borrower shall be in
<br /> � �� � default d any torlerture action or proceedmg. whether crvd or criminal, is begun that in Lender's good la�th�udgment could result
<br /> in fortedure ot the PropeAy or otherwise materially�mpair the lien ereated by this Secunty Instrumen!or Lender's securrty interest.
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