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<br /> 7'O(78'['HGR WI'TH idl the impruvcmr.nts now or I�crenfler erccte.�i on the property, unJ all c.iZ(ifcins,appurtennnccy,und
<br /> fixtures now or hereafter a part of thc property. Ail replecements und udditions shull ulso be covered by this Securiry
<br /> Instrument.All of Ihe foregc�ing is refcrrcd to in tiiis S:.curiry Instrument as the"Property."
<br /> BORROWER CQVENANTS thut &�rrc�wcr is lawfully seised of the estate hereby convcyecl unsl tias the right ro grunt iind
<br /> convoy the Property und tIL1t the Property is unencumbered,exeept for encumbrances uF rewrJ. Borrower wurrantF and wUl
<br /> defend gcncrully ihc titl�to the Propert,ya�uinst all cluims anddemands. s�►bject to uny encumbrunces of recard.
<br /> TH[S SE�URITY INSTRUMBNTcombii�es uniform co�•er�ants for��tional use and non-uniform covenuutw with limited —
<br /> vc+riations by jurisdiction to constituo: a uniform security instrumeut covering rcul property.
<br /> UNIFORM COVENANTS. Borrawer und l.ender covenant and agree as follows: i
<br /> 1. Pnyment o[ Principaf and Inttrest; Prepayn�ent ond l.wte Chsrges. Born�wcr shull promptly pay when Juc thc
<br /> principal of und interest on the d�bt ev idenced by the Note und any prepayment und IAte churges due under the Note. �
<br /> 2. Funsls for Texes a�d insura.nce. Subject to applicable law or to a written wuiver by Lender, Borrower shuli pay to
<br /> Lender on th�day monthly paymcnts aredue u�zder thr Note.until thc Nnte is paid in full,n sum("Funds") for:(a)yearly taxes �
<br /> and assessmcnts which mny attain priori�y over this Ser.urity Instrument as a lien on thc Property; (b)yeurly Ieusehold payments �
<br /> or graund rents on the Praperty, if any;(c} yearly hqrard or property insurance premiums;(d)yearly flood insurance premiums,
<br /> if any; (e)yearly nwrtgage insurance prcmiumg, if urey;ancl (� any sums payable by Borrower to Lender, in accordance with ,
<br /> the provisions of paragraph R,in lieu of the payment of mortgage insurance premiums. These items are called"Escraw Items."
<br /> I.ender may, at uny time:. collect anci hold Funds in an arnount not to excud the maximum amount u lender for a foderally
<br /> relsted mortgaga loan may require for Rc►rrower's escrow:icmunt under the frderal Real Estate Settlement Procedures Act of
<br /> 1974 as amendal fram time to tinx, 12U.S.C. Section 2601 et seq. ("RESPA"),un(ess anothcr law that applies to the Funds
<br /> aets a lesser amount. If so, Lendcr may, at any time. col[ect and hold Funds in un amount not to exca�d the lesser amount.
<br /> Lender may estin�ate the amount of Funds dle on the basis of current data und re�sonublc estimates of�:cpenditures of futurc
<br /> Escrow[tems or otherwise in accord;uia with applicuble law.
<br /> 'I'ha Funds shall be held in an institution whose d�posits ure insured by u federal agency, instrumentailry, or cntity
<br /> (including Lender.if Lender is svch aa institution)or in any Pedcral Homc l.oan Bank. Lender shall appiy the Funds ta pay the
<br /> Fscrow Items.I.ender niay not charge Bonower for holding wid upplying the Funds,annually analyzing the escrow account. or
<br /> verifying the Escraw Items,unless l.ender pnys Borrower intercst on the Fu[acls and applicable law permits Lender to muke such
<br /> a charge. However,Lender may require Aorrawer to pay a one-time chargc for an independent rcal estate tax rcporting servia
<br /> uxd by Lender in connection with thie loan, unless applicable law provides otherwise. Unless on agreement is m�de or
<br /> Anniicable law requirea ioterest to 6e �a(d. Lendet shall not be required to pay Bonower any interest or turnings on the Punds.
<br /> Borrower and I.cnder may agrce 1n writing,howevcr. that interrst shall be paid on the Funds. Lender shall give to Borrower,
<br /> without cherge. an annual accoundn� of the Funds, showing cr+edits end debits to the Funds atxi thc purpose for which each
<br /> d�bit to the Funds was made.The Funds are pledged as additional socurity for all sums r�ecured by this Security Insuument.
<br /> if the Funds t�eld by Lender excced the amounts pennitted to be held by applicable law,Lender shall eccount to BoRawer
<br /> for the excess Funds in accardanco with the requirements of epplicable law. If the amount of the Fur►ds held by I.endu at any
<br /> tim�is not sufficient to pay the Escrow Items when due.[.ender may so nutify Borrower in writing,and.in such case Borrower
<br /> shall pey to Lender the amoant necess�ry to make up the deficiency. Borrawu shnll make up the doficierticy in no more than
<br /> twelve monthly paymenta.at Lender's sole discredon.
<br /> Upon payment in full of sU aums secured by this Sc,curity Instrument, Lender shall promptty refund to Borrower any
<br /> Funds I�eld by Lender.If. under paragnph 21, Lender shall acqufro or sell the Proper[y,[.ender, prior to the acquisition or�ale
<br /> of the Property. shall apply any Funds held by Lender et the time of acquisition or sale as a credit against the sums secured by
<br /> this Socuriry Instrument.
<br /> 3. Appilation of Paymmts.Unlas applicnble law provides otherwise.all payments raxival by I.ender under psragnphs
<br /> 1 and 2 shall ba applied: fint, to any pre�ayment charges due under the Note; secorrd,to surwunts payable undcr perag�aph 2;
<br /> third.to�lnterest dut;fourth,to pdnaip�l due;and lest,to any late charges due under the Nate.•
<br /> 4. C6u�es;Lte�. Borrower ahdl pay all axes,essessments, chargc�, fines and imposltians attributable to the Proporty
<br /> which may setain priarity over this Saurity Insuument, and leasehold payments or grounci rents, if any. Borrower shail pay
<br /> these obligations in the manncr provid�d in paragc�ph 2,or if nat paid in,that manner.Borrower shall pay them on time diroctly
<br /> to the person owed payment.Borrovyer shall promptly furnish to I.ender alt,notices of u�wunts�to be paid under this paragraph.
<br /> If Bomower malces these payments dlratly.Bonower sha�l promptly furnish to Lender reaipts evidencing the payments.
<br /> Borrowor shall pmmpdy dixharge any lien which has prio�ity over this Secudty Instru:ment unless Borrower:(a)agrets in
<br /> writing to the payment cf the obligation secur�d by the lien in a mar►ner acceptnble to Lender;(b)contests in good faith the lien
<br /> by, or defends ug�inst enforcement af the lien in, legal pruceedings which in tho Lender's opinion opccate tu prevent the
<br /> enforcement of the lien; or(c) secur�s�from the holder of the lien en agreement satisfactory to Lender subardinating the lien to
<br /> this Socurity instrument. If Lendcr ddermines that any part of the Property is subject to a lien which may attain priority over
<br /> this Security Instrument, I.end�r may give Borrower a notice identifying the lien.Borrower shall satisfy the lien or t;�ke otx or
<br /> more of the actiorxs set farth above within 10 days of the giving of notice.
<br /> Fom,3ose srao
<br /> Pp�2 016
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