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<br /> 'PtXiETHER V�ITH ull tne improvemenw now ar heY�after erected on the property,nm3 aU�:w+�rcnts, appurtGnances,nnd �
<br /> • flxtures now on c�reafter a part of the property.AU replacemcnts and additions shall also bc covcr�..d by tliis Security Instrumen� " ,
<br /> All of thc foregaing is refcrred W in this 3ecurlty Instrument es thc"Properry."
<br /> . BORR4W�esR COVENANTS that Borrower is lawtully seisecl of ti►s estate iiereUy convey¢d �nd hes t➢ee ri�;ht to grant und - '
<br /> convey iha Pro�ty and thst the 1'roperty is unencumbered, except for encumbrances of recor�. Dorrower warrants and will �
<br /> .=- defend generally Iha ptie to the Property against all claims and demands,subject to any encumbra�c�s of record. ' -
<br /> -� THIS SECURITY INSTRUIVIENT combines unUorm covenants for nationnl use and non•urniform covenants with limited .
<br /> varisitions by jurisdiction to consdwte a uniform security insmiment covering real property. ° -
<br /> UN�ORM COVHNANTS.Borrower and L,ender covenont and sgree as follows: .:�.kr .;.�• -
<br /> 1.PA ment ot Princi a and Iateresti PrepAymeat aud Y.ate Char es. Boreower sl�all �rom Q pay tivhcn duc the `�'�'��'=''�.
<br /> Y P B L � Y .�r��,,tar�r.�_
<br /> principal of and interest on the debt evidenced by tha Nous and any prepayment and lata charges dur under the Nota. •�'?��,— `-�-
<br /> 2.Fhnds forTaxes and Insurance. 5ubject to appllcable law or w a wriaen waiver by L_.ender, Borrower shall pny to : -
<br /> Lender on the day monthly payments are due under the Note,until the Note is paid in fuU,a sum ("F�cnds") for:(a)ycarly taxes �a_:,�.�
<br /> __.. _ and assessmsnts which may aYtain prior.ty over this Security Instrument as u lien on the Propem; (b)yearly leaschold payments ��=
<br /> or und ren�s on tne Pro �.,.�..s._--'--_�—
<br /> _.. .__ B� PertY,if any;ic)Yearly hazatd or property insurance premiums;(d) Yeariy floo�i inbwtuu:e pranuuma�►t :;''lr:�,-
<br /> any; (e)ye�arly mor[gage insur�nce premiwns,if any;and(�any sums payable b Boraower to Lender,in accordance wIth the y'f
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<br /> provisions of paregreph 8, in Geu of the paymant of moctgage insurance premiums. These iteme are cslled "Escrow Items." ��"' �:'
<br /> . I.ender may,at any dme.callect and hold Funds in en amount not to exceed the maximum amowt a Iender for a federally related •,,��};°.�
<br /> mo.rtgage loan may r„quire for Borrower's escrow accaunt under the federal Real Estate Setdanent Procedures Act of 1974 es , ,�,�,,.,,
<br /> . �. flsr.z.r�ded fram tima to time,12 U.S.C.Sectien 2601 et seq. ("RESPA").unless anot�er law thmepplies to the Funds sets a lesscr :.:�:l;r�°m:,_,—--
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<br /> � amoun�If so. Lender may, at any ttme,collect and hold Funds in a�� amount not to exceed ttie lesser amoun� l.ender may i,;;;�.t'•-`°�!_•
<br /> esdmate ttYe amount of Funds due on the b�is of cument da�and reasonable estimma�of expendiwres of fuaue Fsscrow Items or ;;�.�'•
<br /> otherwise in acco�nce with epplicable law. , -
<br /> �'� The Funds shall be t�eld In an insdtudon whose deposits are insuced by a federal agency, insbrument�ity,or cndty(includinA "�Yi� ,'
<br /> % � Lender,if I.ender is such an instiwflon)or ln any Federal Home I.onn Bank. Lender shall apply the Funds ta pay the Escrow +,�,r�� ' `:
<br /> Items.Lender ma not chnr e Borrower for holdin and a 1 in the Fundv,annually analyzing ihe escrow account,or verif �n ;�.. . i'
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<br /> the Bscrow Items,unless I.ender pays Borrower interest on the Furids and applicabla law permits Lend�r Go ma{:a such A char�e. ' _
<br /> -�---1�., However, I.ender may require Horrower to pay a one•ti�ne charge for an independent real eslele tax reporoing srrvice usect by ��.-�
<br /> .;' I.,ender in conneclion with this loan,unless AppHsable law provides othenvise.Unless an egrcement is made or appllcable Ittw
<br /> r�equires interest N be paid,L.cnder shall not bcs required to pay Borrower eny interest or earnings on the Funds. IIoirowcr end -_
<br /> .�;r, ��; � Lende�•may ngcee In writing,however,that interest shall be paid on the Funds.Lender shall givc to Sorrower�withnut cherge,an
<br /> � annual accounting of the Funds,showing rsedits and debits to the Funds and the purpose for which cach debit to the Funds wns `
<br /> • . mede.The Fiuidsare Qledgod as ed�idonal security for ell sums secured by thLs Securiry Insuument� �
<br /> ' �+ If tha�'unds held by Lender excced the amaunts pe�mitted to be held by applicable law,Le►�er siwil sccount to Horrower for !I
<br /> the eacess Fluids in accordance with the requirements af appllcable law.If the amount of the Fuad�held by I.endar at eny�me is
<br />- � not sufficient to�ay the Escrow Items when due,I.ender may so notify Borrower in wciting,and,in such case Borrower shaU pay �
<br /> to Lender the amount necassary to make up the defictency. Borrower shall meko up the det�ciency in no mom than twclvo ��-�
<br /> � �`� ( monthlY PaYments,at Lende�r's sole dLscredon. _
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<br />;.,.• -• k ��� LJpon payment in full of all sums secur�d by this Sacurity Instrument,I.ender shall prompUy refuRd to Bonower any Funds =
<br /> :�� y'•-••- .� held by I.ender.If, under paragraph 21,Y.ender shall acquire or sell the Property,I.ender,priar to Uie acquisidnn or sale of the _
<br />-- . � • Prapaty, shaU apply any Funds held by Lender at the dme of acqulsition or sale as a cmdit againat thc sums sccure,�l by this '_
<br /> • Securiry Instwmcn� ` -
<br /> -'� " 3.Appllcatton of P�yments. Unless applicable Iaw provides otherwise,all puyments received by Lender��nder parsIIraphs �=_
<br /> - . 1 and 2 shall be applled:first,to any prcpayment charges dus under the Note;sacond.to arnouRro payabie widesr paragraph 2; �•"_�--
<br />;_•_�. third,W intuest due;fourth,to principal due;and last,to any late chtuges due under the Note. ;•:__
<br />--- ' 4.Chxrges►Lien�. Bor�ower sf�all pay�IL taxes.assessments,chargca. flncs and imposiuons atmihutabJn to thc Property =
<br />�::,�•`��� .� , which may euain priodty over this Security Inswment,aaid leasehold payments or ground rerets,if a►y.Bocrowor shall pay these -
<br /> ' ' �•= obliga6ons in ihe manner provided in par�graph 2,or if not paid in th�t mannes,Borrower shall pay ticem on Wna dinecUy to the -----��
<br />--+� �� � •�5�:i ' pe�son owed payment Borrower shall promptly furnish to Lender ell nodces of:�rnounts t�o be paid under this paragraph. If "'��"
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<br /> � �� , Borrower makes U�eso payments directly,Borrower shalt prompdy fumish w Lender receipts eviduacing the paymenta. ''�'``'`--=- -
<br /> - . Bomower shall prompily discharqe any llen which has priorlty over this�ecurily Insirume�t�nless Bornn�vea: (a)agrees ln ___-------_--
<br />_ ' writdng to the payment of the obligadon secured Uy the lien in a manner neceptuble ta Lender;@3 contrsts in goad Caith the lien �—^��w=-
<br /> ';'�:� by, or defends against enfo�emcnt of the lien in. legal proceEdings which in the L.cnder's��ruiion operato to prevent the � ,w„��;!�;� '�
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<br />- enforcr�nent of t�e Hen: or(c)sec�res from the holcier of the lien an agreement satisfactnry to I.�nder subordinating the IIen to , };:�, �1��;,=
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<br /> _ ,. , this Securiry I�swmc��If Lender detsm�ines that any part of the Property is subject w a flen Whicl��y auain priority over this ', �,:���,y��_
<br /> � Securlry Instru�ent,Lcnder may give Bomower a norico identifying the lien.Borrower sh�ll sausfy the lien or taka one or more .�"£.' •".- �-
<br /> ,, of the actions set torth above within lU da ys of the givin g af notice. ,.' ,.•� �'�:��''�4�,
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