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<br /> ; TOtiETHER W[TH all the improvementa now or henafter erected on the propor[y,and all easemeata,appurtenances.and
<br /> • c fi�tures now or Qerenfter a part of the property. AI! replexments and additions shall also be wvered by thia Cecuriry
<br /> � � , � lnsuument.All of the foregaing is refened to ln this Secudty Instrument as the'Property.'
<br /> ' BO�tROWER COVBNANTS that Bortower is lawfsilly seised of the estate hereby conveyed and has the right to grant and
<br /> . convey the Property and thsu the Progerty is unencumbered.eacept far encumbsances of reoord. Borrower warrants and will
<br /> defend generally the title to the Property against all cloims and dem�wds,aubject to any eacumbrances of record.
<br /> � THIS SECURITY INSTRUMENT combines uniform covenants for nadonal use and aon-uniform covenanta wtth limited
<br /> � vuriadons by jurisdiction to constitute a uniform security instrument covering real pmperty.
<br /> ° ,.,,..;y�l UNIFORM COVENANTS. Borrower and Lender covenaat and agree as foilows: -`'__
<br /> ' � 1. 1'ayment of Prtadpal nad Interest; Prepayment aad Late Charges. Borrower shall promptly pay wben due tLe �=
<br /> '- �i�-
<br /> ��� principal of and interest on the debt evidenced by the Note and any prepayment and late charges due uader tde Note. ��-
<br /> ^� �y��M"h'i°"�'� 2. �nds for Taxes and Insw�rtca Subject to applicable law or to a wrlaen weiver by Ixnder. Borrower shall pay to
<br /> � Lender on the day monthly payments are due under the Noto. uatil tiiee Note ts paid in full,a sum('Funds")for:(a)yearly taues -
<br /> '� end assessments which may attain pttoriry over ehis Securiry Inatrument as a lien on the Property;(b)Yearly teasehold payments �
<br /> } � or gound rents on the Property.if any; (c)yearly hazard or property insurauce premiuma;(d)yearly flood insurance premiums. -
<br /> if any; (e)yeazly mortgage insurauce premiums,if any; aad (�any sums payable by Borrower ta Lender,la accordauce wIth
<br /> � the provisions of paragraph 8.in lieu af the payment of mortgage insuraace pnmiums.These items are called "Escrow items." _
<br /> ,,,_ �
<br /> i� Lender may. at any time, collect and hold Funds in an amouat not�o exceed the maxiraum amount a lender for a fe�lerally
<br /> related mortgage loan may require for Borrower's escmw aceount uadPr the federal Real Estate Settlement Pinceclures Aa of
<br /> 1974 as amended from time to time,12 U.S.C.Section 2601 et seq. (•RFSPA"),unless another Iaw that applies to the Funds
<br /> . _..�,�: seu a lesser amount. If so, Lender may.at eny time. coU�ct aad hoZd Faads in an amount not to eaceed th�Icsscr atuaunt. •
<br /> �� Lender may estimate the amouat of Funda due oa the basis otcurmnt data aud reasonable estimates of expeaditures of future __
<br /> � ' Escrow Items or oWerwise in accordance w3th applicable Iaw. �
<br /> ; The Funds shall be held in an insdtution whose deposits are insured by a federal ag6ncy, Instrumenteltty. or entity ��„�;r�
<br /> > (including Leader.if Lender ia such an insdtudon)or in any Federai Home Loan Bank. Leader shall apply the Fw�ds to pay ttie -""
<br /> •f- Escrow Items.Lender may not charge Borrower for holding and applying the Funds,annually analyzing the escrow account.or
<br /> '" �'r � verify�ng the�scrow Items.ualess Ixnder pays Borcower intenst on the Fnnds and appltcable law permits Lender to make such _.
<br /> �;�.;.; . a�barge. Iiowever.Lender may require Borrower to pay a one•time chazge for an indepeadent reat estate tax.reportlug serviee ___
<br /> -?;<:;`.i • ' us�d by Leader in wnnection with this loan. unless appliceble law provIdes ot�er�vise. Unless an agrer.ment is made or �!:`;';
<br />-�"��`t� ••• agplicable law requirps interest to be paid,ixuder shalY not be required w pay Bonower any intemst or earnings on the Funds. �`'
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<br />�.�•;�+.. ,..r' �orrower aad Lender may agree in writing.however,that iaurest shall be paid on the Funds. Lender shall�ive to Borrower,
<br />�`�.-`'° � wlthout charge,an annual accoundag of the Funds,BhowIng Cretlita and debits t�the Fnnda a�el thp g»�A f4[ whl�L►e�h .
<br /> -`'�4 � ' �`� debit to the Funds was m,a.de.The Funds are pledged as a¢dttional securIty for all sums secured by this Securlty Iustrumeat. —
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<br /> �:� ��� :�•� If the Fuads held by i.ender ea�coed the amounts�rmitted to be held by agFi?Cabte law,Lestder sLat!acoount to Sorrower =-
<br /> �-. � --..,�.r....� __
<br />`;`"rya�'� t_�'• for the excess Funds in uccordaace arith the reqnirements of applicable law. If the amount of the Funds held by Lender at any =_
<br /> ����`� dme is not su#ficient to a tlie Escrow Itams when due,
<br /> �:G�;::,:;{.x.�'s�; P Y Lender may so notify Borrower in writiag.and,in sucb c�se Borrower
<br />�sM����,,;� ,i . . shall pay to��.ender the amount aecessary ro iqake up the deficlency. Bomower shall make u�tha doHcienry in no more tban
<br />_,,,���_:;_-_-�{,-$= twclve mont141y pajrments,az Lender's so2e dissrettoq.. ' '
<br /> _�r�r,.:. : ' �UPon�ayment in full of sU aums secured b�y thia Security I�tru�ent.Leuder shaU promptly refund gb 8ormwet�aay
<br /> _�;,,t,��,;;,�!� �atm.ds Aeld l�y�l�eader.If,under paragraph 21.Lender shail acquire or sell the Pc+oporty.Leader.prior w We aeqolaition or 9ale
<br /> R,�_�_.:-�:��� of dte Propeity,ahall apply aay Funds held by Lender at th� tlme of acquisition or sale as a credit ageinst the sums secured'by'
<br />-�="!^�-�-�� this Security.3l�strument.
<br /> °""-'�'� 3.Appl�l'catfon of Payate�.Unless applicable law provides ocharwise,ali payuienu recetved by Lender ander paragaphs.-
<br /> 1 and 2 ahail be appiied:first,to aay prepayment charges due under the Note;second.co amouuts payable wtda paragraph 2;
<br /> T=j;;�,,,,���� thii+d,to inurest due;fourth,to prtncipal due;and last.to any late charges due nnder ihe Note.
<br /> __._ -_- - - - 4.(:4argea;Y.l�s.Bomnwer snt�tl pay all taxes.assess�tt�,cIuuges, fin�awfl itupnsitivu�utt,iLui,wl�iu t1uC Rv�xity —
<br />--- _�='� which may.attain priority over this Secudqr Insuument, and leasehold payments or ground reate.�f any.Borro►ver shall pay.
<br /> these obiigatia?ns in the manner provided in paragraph 2.or if not paid in that manner,Borrower shall psy them on qnle disectly.
<br /> W-`�"� ' tp e persoa owed payment.Borrower shall pmmpt3y ti�rnish to Lender all aodces of amounts to be paid under this paragraph.• �
<br />--���'l:�'i�� i�_�srower makes these payments directly�Bon+ower shalt prompdy ti�rnish to Leader receipts evidenciag the payments. � _
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<br /> _ Bo:rower shaii promptly discharge any Uen which has priorIty over this Socurity lnsuunaent nnless Borrower.(a)agree.s�in :
<br /> _�;,�� writing to tLe payment of the obl�gadoa secured by the lien in a maaner acceptable w I�er►der;(b)contests in good faith.the liela
<br /> - - �t� by, or defends against enfotcement of the Iten in, legal proaodiags wlnch in the L.eader's op3nIon operate to prevent t6e
<br /> __�� enforcement of the lien;or(c)secures from the holder of the lien aa agrcement s�tisfactory to Leader subardiasating We�l#ep to'
<br /> ����� this Security Inspvraent. If Lender deternrines tLat any part of the Property is subject,to a lier.�which may attalia p�riorlty pvar
<br /> -_;�;��.� this 5ecurity Insavment.Leader may g�ve Borrower a notice idenrit�ring the lien. Borrower shaU satisfy the lien or take one�or —
<br /> -T�':j-:�=;�.r- mon of the acxlons set forth above wlthin 10 days of the g(viag of nottce.
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