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<br /> � TOG�'fHER WI7�'H al{ the improvements now or hereafter ete�tad on the property. and a11 e�sements, � � ' .
<br />_� � appurtenances,and�xtutes now or hereatter a past o4 the property.A11 repiacementa and additions shall atsa be rnver� � .
<br /> � � by this Sacurityr Instrutnent.Afl oi the 4oregoit�g�s cetemed to in this Security Instrument as tl�e"Property.' -•-
<br /> - - - BO#tRO1VER COV�NSRNTS tlsat Barracrec is tarfuliy s,essed of the estate hereby wnveyed and has the rigbt to
<br /> ' ' ' grant and convey the f'rogerty and that the Property is unencumbered,escept for encumbrances of raFord. Borroaer �: � _
<br /> `� �,. ` .,` w a r r ants and will deiend g e necally the titte to the Propecty aga�nst a11 claims and demands,s�►b�t to any encumbrances � �...:-
<br /> Y� of record. -`
<br /> THIS SSCtJRFI'Y INSTRUMENT cambines uni�orm oovenants for nadonai use and non-unitor+n�rovenants with �
<br /> � limited variations by jurisdiction to constitute a uniform security insuument covering seal propetty. ..;. �;.
<br /> �. � � 1JNIFORM COVENAN"I'S:$orrower and Lendecoovenant and agree as 4ollow� wfien dae �
<br /> _� �` 1.Payaseat of Principat aad Interest;Ftepayment aad Lote Charges.Bonowe*shall pmmptly pay
<br /> "Y��'�.�..:`:: • the principal oY and intere.st on tDe debt evidenced by the Note and aay ptepayment and late cAsrges dae under the Note.
<br /> - � • �" ' 2. F�nds for Tases aad iasusance.Subiect to applicable la� or w a written wa'svet by l,ender.Bono�ver shaU �=
<br /> `�°'`��`�`�s:� � ' pay to Lender on tAe day monthly payments�te due under the Note.until the Note is paid in full,a sum("Fuads")for. ���_"
<br /> �; �.�;.�`., (a)yeatly tases and ass�sments which may attain priority over this Se�urity Instrumentas a lien on the Property;(b� _
<br /> yeariy leasehold payments ot ground r�nts on the Psoperty,if anY: (c)Yearly hazard os property insutance preiniuma:
<br /> '- � (d)Yearly ftaod insurance premiums.if any;(e)Yearly a►ortgage insurance premiums.if any;and(f)any sums paYabte `
<br />....�4;�' ;4.'.. by Horrocaer to l.ender.in accordanGe�rith the provisions of paragraph 8:in lieu o4 the payment of mortgage insurance �.��:�;-
<br /> • premiusns.These items are calted"Fsccotv Items."Lender may.aE any Ume.collect and hold Funds in sn amount not•
<br /> ' to esceed the masimum amount a lender for a federally�elated mortgage toan may sequire ior 8osrower's escrow -
<br /> � account under the federel Real Bstate Settlemet►t Pmcedures Act of 1474 as asnended from time to tim+e� 12 U.S.C. _
<br /> - ' Se�tioa 2601 et seq.("RFSPA°},uafess another law that applies to the Funds sets a lesser amaunt.If so,Lender may. �� �
<br /> °=�-'. ' at any time.coltect and hold Funds in an amouat aot w esceed the lesser amo�nt.Lender may estimate the amourt oi �: ,r_'
<br /> °� ,' ° Fun d a d u e o n't h e b a s i s a f c u s r e a t d a t a a n d s e a s o n a B l e e s t i m a t e s o f e a p e n�tu r e a oi futura Fscrow Items or otherwise ia �- �
<br /> f �'�'�' � accordaace with applicable law. •
<br /> � � `..{. '. The Funds shall be Aetd in an inatitution whosa depoaits are insured by a fedetal agency,instrumentality.or entity
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<br /> �f �• .. . . "'' (including L.ender,if Lender ia sucA an institution?or in any Pederal Home L�n Bank.1-ender�hall apply the Runds to
<br /> .r ;; �_��. p a y the Fscrow Ytems•I.ender may aot charge Borrower for holding and applying the Funds,annually aAalyzing the �
<br /> <�.,.; �; e s c t ow account.ur verif9'tng the F�crow Iterns,unless I�ende�'Pal+$Bnrrowec interest on.t he�Fun d s an d a p p l i c a b 1 e law �;_
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<br /> -� � � petm�ts Lender to make suc4� a charge. However, Lender may require Baz��rer'to paY a one'time c h a rge for an i�__—
<br /> ' ^. ::� iradependent real estate tas repartinS service u5ed by Lender in connection witEe d�is loari,unless apglicable taw ptovides �-�_-:-
<br /> ' '� �therwise.Unl�an a esit is made or applica�l�1aw requires interest w�e paid.l.et►der shalt not be reqwred to� --
<br /> � �� ,`'."���, '�� paY Borrower any iater�or earnings on the Funds.Borrower artd Lendet may agre�in wtiting,however,that i.nterest� �,�-'�..`-
<br /> ' �`�`����%..�; sha11 be d on the Funds.Lendec s1va1l give to Borrosver.without charge.an annual accounting of ttt�Fuads,showing �:c
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<br /> . �., t c r e d i t s and dehits to the Funds and the purpose for which each debit to the Funds was mad�.The Funds are pledged as �
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<br /> ' .• . . :r additional security for all sums secured by this S�urity Insttumen� licable law,Lender shall account to � �
<br />- � ' E If the Funds held by Lender esceed the amaunts permitted to be held by app �-_'-
<br /> ' �' 8 otrow e r f a r t h e e x c e s s F u n d s i a a c c o r d a n c e w i t h t 3�e r e q u i r e m e n t s o4 a p plicable law.If the amount of the Funds held E-
<br /> �< , , '• b y Lender at any time is not sufficient to pay the Escraw Itema when due.Lender may so notify Barrower in,weiting. L. _
<br /> . „ —'�"�:� .f and,in such case Borrower s h a 1 1 pay to L e n der t he e m o i�n t n e c e s s a ry w m a k e u p t h e d e�c i e n c y.B o r ro w e r s h a l l m a ke ----.
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<br /> � ::Y up the d�ciency in no more than tweIve monthly paymeat�,at Lender's sole discrafian. . �_
<br /> . Upon payment in full of all sums secured by thie Security Instrument,l-ender snall promptly refund to Borrower
<br /> � �; any Funds held by Lender. If,under paragraph 21,Lendet shall acquire or sell the Property, L,endes, prior 2o the
<br /> � � �,; acquisition or sale of tha Propercy.shall apply any Funds held bq Lender at the time oi acquisition or saJe as a credit __
<br /> � � � � '�. agatnst the sums secure.d by this Se�urity Instrument. _
<br /> � . 3. Applicntton of Pgyments.Utiless applicable law provides otherwise.al}payments teceived by Lestder undet �
<br /> paragcapt�s� and 2 shall be apptied:�rst,to any prepaYment charges due urder the Note;second,w amouflis payable `
<br /> ° ;;�.; under paragcaph�third,ao interest due;fourth.to principal due;and last.to any lata charges due under the Nots. __
<br /> . . . 4. Chsrges;Liens. Borrower sha11 pay a1t tsaes,assessmet►ts.charges,.fims an mp..g�tttv���attributable to the =_-
<br /> � . ' ?� Property wh4ch may attain priority over this Security lnstnrment,and leasehold pa�itiefl�o�Sround rents. if any. �
<br />- . .- ,•" �. Bonower shall pay these obligations in the manner provided in para�raph 2,or if not paid in that manner,Bortower �:-_
<br />- . .. _ ehall pay them on time directly to the pe�son owed payment.Borrower shall promptiy turnish to Lender all aotice�s oi
<br /> � . ' amounte W 6e paid under thia paregraph.If Horrower makes these paymenta directly,Borrawer ahall promptly 4urnish �v��
<br /> � ' w Lender receipts evi d e ncing t he p a y r a e n t s. . �: -�-
<br /> ,:�' • ��,. .
<br /> � f Bonower shall prompily discharge any tien tivinch has priority over this Security Instr�ment unEess Botrowe�':(eI ..:-:
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<br /> -�'- �r :. �;;t;,.��. �} agees in writing to the payment of t�e obligation secured by tt�e lien in a mannet acceptable to I.ender;(b)contes�s�n �::_
<br />-� � ;?,'f1 �. f gopd fatth the lien by.or defends against enforcement of the lieti in�legal proceEdinp which in the f.endet's oginion �- ,
<br /> � � operata to ptevent the enforcement o4 the Iien;os(c)secw+es trom the holdet of the lien an ageement satiafactory to �. �
<br /> � Lender subordineting th�lien to this Security Instrumen�It Lettder detennines t h at any part of the Pto p e r t y is sub ject �;
<br /> • �'� w a lien which may attain priority over this Security lnstrument,Lender may g�ve Bottower a notice identitying the �_�.
<br /> � � lien.aorrower sha11 satisPy the lien or take one or more o�the actions set forth above within f0 days o4 the giving of ;.�
<br /> .. ,s.F:..- �' . notice. �
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