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<br /> � � 1'U(ifi'ffililZ WI'Til all�hc impr�.vcmm�ts no�v�in c�rcnftcr erected on thc property, mid :dl cascmenty.uppurtcnanccs, und
<br /> , , � fiaturc+ n�►w on c�rcnflcr n pan uf thc pruperty. All rcplucements und ndditions shall ulso hc covcrcd by this Sccurity
<br /> ` Intitr�uucnt. All of thc tirrc�;�,ini is rcFcrrcd to in thiti Sccurity Instrumcnt a+thc "Property." _
<br /> � DOIZRUWL?Ft CUV�NAI�I'fS thut l�orrower is lawfully sciscd u(lhc r.i.ac li�reby cuiweyul and han tl�c right to granc and �
<br /> �"'''��' convey tl�c Pr��perty and that the Property is uneucumberai. excrpt for encumbrunces of recc�rd. Einrrower warrwits and will _
<br /> �;,N,,;�ir� defend tienerully the tiUe ta th� Praperty ngainst all claims�md demund,, subjert to any encumbrances of recard. _
<br />-,.�� Tli1S SECl1RITY ENSTRUMENT combincs uniforni covcnants for mitinnul uac und non-uniform cavcnants with limitcd _
<br /> � variationti by jurisdiction to constiwtc a unifarm sccuriry instrumcnt covcring rcul propeny. `
<br /> UNIFORM COVFNAN'I'S.Horruwcr.�nd Lendcr covenant and ugrcc as follaws: _
<br /> • l. Yayment of l'rinclpul and Interest; Arepayment and l.utc Ciiur�;�. Hurruwer shnll promptly pay �t�hcn due the -
<br /> ' prinripal of and interest nn the debt evidenced by the Nate and uny prepuyment and late charges due under the Note. _
<br /> - - ;,,- 2. :ean�s 4c:Tux�aisa !�;sraeiee. Subject ��apnlicable luw ur ta a written waiver by Lender, Borrower shall pay to _
<br /> ' �: Lendcr on thc day monthly paymcnts arc duc under the Note, until thc Note is paid in full,a sum("Funds")for:(a)yexrly taxes
<br />- � and assessments which may attain prioriry over this Securiry Instrument as u lien on the Property: (b)yearly leasehold payments
<br />- . � or ground raus on the Propcny,if any;(c)yearly hazard or property insurance premiums;(d)yearly flood insurance premiums, -
<br /> � if any: (e) yearly mortgage insurance pmmimns, if any; and (�any sums payable by Borrower to l,ender, in ac.wrdance witt�
<br /> the provisions of parngriph 8, in lieu of the puyment of mortgage insurance premiums.These items are called "Escrow ltems."
<br /> . � �` Lender may, at uny time, collect and hold Funds in an amount not to exceed the maximum amount e Iender far a federaUy
<br /> related mort�aFe loan may require for Borrower's escro�v account under the federal Real Estate SetNement Procedures Act af _
<br />_ :� 1974 as amenc�cd from time to time. 12 U.S.�C. Section 2601 et seq. ("RESPA"), unless another la�v that appiies to the Funds -
<br /> ,;�; , se[s a lesser i�mount. If so,Lender ntay, at any time, collect and hold Funds in an amount not to exceed the lesser �unovnc.
<br />:�;,�;�..` :;�;��, Lender may estimate the amount of FundS duc on the basis of current datu and reasonable cuimates of expenclitures of future f.`;
<br />-;4.;;;'•;: � kscrow Items or othenvise in accordance with applicable iaw. F
<br />-"�� ' ' ,.�:,, The Funds shall be held in an institution whose deposits are insured by a fecier�l agency, instrumentality, or entity __
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<br />�;,f��. ,. . ��• (including C,ender,if Lender is such an institut�on)or in any Fcderal Home Loan Bank. L.endcr shall apply die Funds to pay the -,...
<br />.,• Escraw Itemti. Lender may nat charge Borrower for holding and applying the Funds,annually analyzing the escrow account,or
<br /> verifyinr the Escrow Items,unless Lender pays Borro�Her interest un the Funds and upplicable law permits I..ender to make such ��
<br /> �' ° • ': � a charge. Ho�vever, Lender m�►y requim Borrower to pny a one-time charge for an independent reat estate tax reponmg service
<br />- � useJ by L,enJ�r iu wnneciiun wiil� thiti luun, unles� uppticsblc law provides otherwise. Unless an agreement is made or
<br />-`!;-�•' a I►cable law r uires interest to bc vd, IJcndcr shnll not bc re uired to a Borrowcr an interest or curnin s on the Funds.
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<br /> °-�•��`� Borrower and Lender may agrcc in wriling,however, that intcrest shall bc paid on the Funds. L.ender shull give ta Borrowcr,
<br /> �:,��k��r�+�,-y ' without ch;ugc. an i►nnual accaunting of thc �undx, tihowing credits nnd dcbits ro [hc Funds and thc purpnsc tiv which cucli
<br />=��_;�� dcbit to thc Funds wus madc. Thc Funds urc plcdgcd�is udJitional,ccurity for�:II ,um�sccurcd by this Sccurity Instrumcnt.
<br />�.,�-��� If thc Funds h^.Id by Lciidcr exc�cd t6u iunuunts permiltcd ti�lxe hcld by upplicablc Inw,lAnJcr�hc►II ncc��unt to Burruwcr �
<br /> _.-;°r���•�� for thc cxccss Funds in accnrdanrc with thc rcyuircmentti of applirablc I:nv. If thc�unount uf►hc FunJs hclJ Uy IAndcr iit nny
<br />�,,,'_=;2-�2� timc is not sufficicnt to pay thc Escruw Itcros when duc, I.cndcr may+o notify Borrixvcr i��writing,and, in such casc Borrowcr
<br />==_Y�^�� shall pay to I..endcr thc anm�n�ncccssary w makc up thc dcticicncy. Dorro�vcr sh;dl makc up thc dcficicncy in nu morc thun
<br />=-��'�'� twelve month!}'payments,ut Lcnder's sol�discretion.
<br /> ��� Upon payment in full of all sums secured by tl�is Securiry Instrumcnt, L.ender shall prompdy re!'und to Bonower any
<br /> s-''�'���"'� Funds held by Lcnder.[f,��nder para�mph 21. L.ender shall acquir.�or sell the Property. Lc�ndcr, prior ta the acquisition or sale
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<br />_� � _= of the Property. shall apply any Funds held by Lender at the time of acquisition or sale as a credit ugainst the sums secured by
<br /> - - --- this Securiry Instrument. _
<br />�"`�;�!'- 3.Applkutlon of PaS•ments.Unless appliu�6le law provides othenvise,all paymcnts received by L.endcr under paragraphs �
<br /> � �c�° 1 and 2 sh:�l be applied: first,io any p►�payc�eent charges due under thc Note; secand, to amounts p�yable under parpgrnph 2;
<br /> '-----�'.'-:�'���' third,to intere.st due;fourth,to principal due;and last,to any latc charges due under the Note.
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