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<br /> , � 'fOG6'THER WITH ull Uic improvements now or herenfter erected on the propeny, unJ all casemcnts,appurtcnances,uncl
<br /> � fixtures now or hercafter u part of the property. All rcplacements and additions shall also be covcrc�l hy this Security
<br />-� Instrumcnt. All of the forcgoing is roferred to in this Security lnstrumcnt as the "Property."
<br />=t•. , , ,�� AORROWER COVENANTS thut Borrowcr is lawfully scised of thc cstutc hcr�by convcycd and lias thc right ta grant und
<br /> convey the Property and that the Property is unencumbered, except for encumbrances nf record. I�orrower wanants and will
<br /> - " _� �� defend generully chc�ide[o che Property ngains�all claims and demunds,sub�ect to n�ry encumbriinees uf record.
<br /> - ,�•�� THIS SEC�RITY 1NSTRUMENT a�mbincs uniform covenants for national uscand non-uniform covennnts with limited
<br /> � vuriutions by jurisdiction to constitute u uniform ucurity instrument covering real property.
<br /> UNII=ORM COVENANTS. Borrower and L.cndcr covcnant and ngrcc as follows:
<br /> . ��,,. 1. Payment of Principal and Interest; Prepayment and Lute Chnrges. Burrower shall pron�ptly puy when duc the
<br /> �� principul of and interest on the debt evidenced hy the Note und any prepayment and l ate char�es duc unrler the Notc.
<br /> " 2. EuntLv fur Tuxes und Insurance. Subjcct to applicable law or to a wriuen�vaiver by L:nder, Borrawer shall pay to
<br /> ��� Lender on the day monthly payments are due under tlic Note,until the Note is paid in full,a sum("Fwuis")f�r:(a)yearly taxes
<br /> . , and assessments which may attain priority over this Security Instrument as a lien nn the Property; (bl yc•arly leasc�hold payrnents
<br /> or gmund rents on the Propeny, if any; (c)yearly htuard or property insurance p�erraaums;(d)yenrly flood insurance premiums.
<br /> if any; (e) ycarly mortgage insesrsnce prcmiums, if any; and (n u„y ,ums payable i>>Aurrower ta Lenur�, iu nc�uidaricc u°itit
<br /> ,._,'r�., the provisions of paragraph 8, in lieu of the payment of mortgage insurance premiuca�s.These items are called "Escrow ltems."
<br />_ Lender may, at any time, collect and F�old Funds in an amount nat to exceed the maximunr ama�nt a lender for a federally
<br /> � • reluted mortguge loan may require for Borrower's escro�v account under the fe<IeraD Real Estate Settlement Procedures Act of
<br />- 1974 as amended from time to time, 12 U.S.C.Section 2601 et sry. ("RESPI!"),unless xno�hcr law that applies to the Funds
<br />= sets a lesser amount. If so, i.ender may, at any time, callect and hold Funds in an a�eount nut ti,exceeci the lesser amount.
<br />�: . � : Lender may estImate the amount of Funds due on the basis of current data and reasonable estima';s of expenditures of �'uture
<br />_- +�: Escrow Items or othenvise in accordance with applicable law.
<br />_;j_ �. • Thc Funds shall be held in an institution whose deposits arc insurcd by a fcdcral a�ency, instrumentaliry, or entity
<br />;f' . .�,�•`' (including Lender, if Lendcr is such an institution) or in any Federal Homc L���n Barik.Lendcr shall spply the Funds ta pay the
<br />�:�" :� Escruw Items.Lender may not charge Borrower for holding and applying thr.i'unds, annuslly analyzing thc escrow account,or -
<br />��"'�'.:�•+-'!�.� verifying the Escrow Items, unless Lcnder pays Borrower interest on the Funds and applicable law S�rmits L,endcr to mnke such
<br />-?i:'"`"':`s'" a charge.However, Lender may require Borrower to pay a one-time chargc for an independent rea!estate tax reporting service
<br />�;,'_.�::fi,: .�.: used b,y Lender in connection with this loan, unless applicable law provides othenvise. Unl��s un a�reemeut is made or
<br />=;{,'=;�:�<:•r��,'����'. ' applicable law requires interest to be paid, Lendcr shall not bc required to ��ay �ornywer uny intrretic or carnings on the Fn�nds.
<br />;�`yy;'.,._;.,,�: Borrowcr and Lender ma}•agree in writing, however,that interest shall be paid on �he FunJs. L�Tder shall give to Borcower. -
<br />�����"�' without charge, an annual accounting of the Funds, showing credits and debits to the Funds anci the purpose for which cach
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<br />-�_(�t,;'_,';�•- debit to the Funds was made.The Funds are pledged ns addition�il security for all sums securod by shis Security Insuument.
<br /> °-°���,'�t"" i If the Funds held by C.ender exceed the amounts perniitted to be held h n hcable law, I.ender shall account to Borrower
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<br /> �"u-�`-��,• for the excess Funds in accordunce with the requirements of upplicable la�v.If the arnount of thc Funds held by Lender at any
<br /> °���°°'�`�� � timc is not sufficient to pay the Escrow Itcros when due, Lender may so notify Bi�rmvver in writing, and,in such case Borrawer
<br />"����'�-....•�:;,�6 shnll pay to Lender the amount necessa to make u the deficienc Bocrou�er shall muke u [he deficienc
<br /> --,�;��;���-�. rY P y. � y in no more than
<br /> _y��, twelve monthly payments,at I.ender's sole discretion.
<br /> ,..._.��„,�;,;� Upon payment in full of all sums secured by this Sccurity [nstrutncnt, [.t:nder shull pro.�,�dy rcfuad to Borrower rmy
<br />_°°-=�-=-�' Funds held by I.cnder.If,under paragraph 21, I,ender shall acquirc or sell thc Ptnperty,L,ender,prior to the acquisition or sale
<br />_� of the Property,shall apply any Funds held by Lender at the time of acyuisition or sale as u credi� aguinst the sums secured by _
<br />�„==-`-�� this Securiry Instrument.
<br />_�"��,.'�� 3. Ap�piication of Payments.Unless applicable la�v provides athenv�sc,all payrnents reccived by Lcnder under parageaphs ^
<br /> _ = 1 and 2 sha11 he npplied: first, to any prcpayment charges due under the Note; sccand,to amounus payable�ndcr paragraph 2:
<br /> third,to interest due;fourth,to principal due; and lust,to any Iate charges due under the Note. -
<br />- _-_ _ �3. Chargcs; Liens. Barrower shall pay all taxes,nsse.r•sments,charges,fines and impositio:t� attributable to the Property
<br /> __ which may attain priority over this Securiry Instrument, and leasel�old pr�yments or ground renrr, if any. Borrower shall pay
<br /> _._-�� these obligations in the manner providcd in paragraph 2, ar if not paid in that manner. Bor�ower shn11 pay them on time dinaly
<br /> "" to the person owed payment. Horrower shall promptly furnish to Lender all noticcs of amounts to be paid under this paragraph.
<br /> _-m.-�;;� If Borrower makes these payments directly,Borro�ver shall promptly furnisii to Lender rcceipts evidencing the payments.
<br /> ��_=� Borrower shall�romptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)agrees in _
<br />-�'—__„,�r�.� writing to the payment of the obligation securcd by the licn in a manncr ncccptublc to Lcndcr, (b)contests in good faith the licn
<br /> _�___��� by, or defends against enforcement of thc licn in, Icgal proceedings wt�ich in thc Lcndcr's o�inion operate to prevcnt the
<br /> _�-_ -__,�_�� enforcement of the lien; or(c)secures from the holder of the lien un n�reement satisfac�oiy to l,ender subordinating the licn to
<br /> �-'ti=''_�{�;�.,, this Security Instrument. If Lender detcrmines that any pan of the Property is subject to a lien which may attain priority over
<br />=:_ -'�"`�,:';"'" t�is Securit Instrument. 3.endcr ma ive Borrower a notice identifying the lien.BcrTeower shull sntisfy thc lien nr takc onc or
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<br />��-��. � . more of the actions set forth above within 10 duys of the giving of notice.
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<br /> _ Fo►m 30Z8 9180
<br /> �3t' . PagO 7 of 8
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