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<br /> ! 'I'OCiSTHER WITH ail thc improvcmcnts now on c�rcaftcr crcctcd on thc property,end ap cascmcnts,appurte�ances,und ;Y, v,,Y'� �
<br /> fixcures now or hercaftcr a part of thc property.All rcplaccmcnts and adciidons shall also bc covcrcd by this Security Insuumcnt. � .
<br /> All of thc forcgoing i�rcferred ta in this Sccurity Ins�ument ag the"Propcny." , ,,f„�
<br /> �,,.,,,,,�.-, BORROWER COVENANTS that liorrowcr is lawfully sciscd of thc estaus hcrcby convcqcd and has thc right to grant and r,,q;;�,";:'-_�
<br /> �.�, � .
<br /> � �, . •�,r� camey the Propeny and that the Propeny is unencumbcrcd, except for encumbrance�of rccord. Borrowcr wturanGs and wlll _ _ �
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<br /> � defend generaUy the dde to thc Property against all claims and demands,subject to any encumbrances of record. :�,�_-_:
<br /> THIS SECURITY INSTRUMEIV'f cambines uniform covenants for national use and non-uniform covenants with limited .;,,,,:
<br /> . variadons by judsdicuon ta constiwtc a uniform sccurity instrumcnt covcdng rcal property. �'=;Y_
<br /> UNIFORM COVENAIV'TS.Borrowcr And Lender covenant and agrec as follows: --_"_
<br /> 1.PAyment ot Principal wnd Interest;Prepayment And Late Charges. Borrowcr shell promptly pay whcn duc the __
<br /> • principal of and interest on the debt cvidenced by the Note and any prepayment ond late charges due under the Nntc. �.��,_;_
<br /> 2.F�ads for Taxes aad Iosurance. Subject to applicable law or to a written wnivcr by Lender, Bonower shall pay to _
<br /> � L.ender on thc day manthly payments are due under the Note,undl the Notc ia paid in full, a sum ("Funds")for.(a)yearly taxcs _ -
<br /> end assessments which may auain priodry ovcr this Secnrity Instr�ment as a Uen on the Property;(b)yearly leasehold paymcnts `a.-��
<br /> ' or ground rents on the Propecty,if any:(c)yearly ha�ard or property insurence premiums;(d)yearly flood insurance premiums,if �_::-_
<br /> any;(e) yesuly mortgage insurance premiums,if any;and(� any sums payablc by Bonower to Lender. in accordence with the .:.;�
<br /> �� , .:.�;�.
<br /> provisions of paragraph 8, in lleu of the payment of mortgage insurance premiums. 'Ittese items are called"Escrow Items. r<,
<br /> � Lender may,at any time,collect and bold Funds in a��amount not to exceed the maximum amount a lendcr for a federally rclateci _ _
<br /> � mongage loan may require for Bonower's escrow account under the federal Real Estate Seulement Procedures Act of 1974 as -
<br /> , amended from time w rime,12 U.S.C.Scction 2601 et seq. ("RESPA"),unless an�ther law that applies to the Funds sets a lesser _
<br /> amounG If so, Lender may, at any cime, collect end hold Funds in an amount not to cxcced thc lesser amounG Lcnder may _
<br /> .�� estimate the amount of Funds due on the basis of current data end reasonable estimates of expenditures of fuwre Escrow Items or .
<br /> otherwise in accordance with applicable law.
<br /> � The Funds shall bc held in an institution whose deposits era insured by a federal agency,instrumentality, or endty(including __
<br /> ,� Lcnder, if Lendcr is such an insdwrion)or in any Fedcral Home Loan Hank.Lcnder shall apply thc Funds co pay the Escrow _
<br /> - � Iicros.I.eader ma;net s:l�arg�R�rrower for holding and applyiaR the Funds,annually analyzing the cscrow account,or verifying -
<br /> the Escrow Items,unless I.ender pays Borrower interest on the Funds and applicable Iaw permlts I.ender w make such a charge. ;:,
<br /> �� However,Lender may require Bonower to pay a one-time chacge for an i�dependent real estate tax reporting service used by 4 Y
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<br /> � � �r Lender in connecdon with thls loan,unless applicable law provi des o t herwise. Un less an a g r c e m e n t i s m a d e o r a p p l i c a b l e l a w '• �,
<br /> �• requires interest to be paid,Lender shall not be rcqulrcd to pay Bonower any interest or carnings on the Funds. Bonowcr and __
<br /> Lender may agree in writin8�howcver,thnt interest shaU be paid on the Funds,Lender shall give to Boaower,without charge,an �'
<br /> � annual accounting af the Funds,showing crediu and debits to the Funds and the purpose for which cach debit to the Funds was �_� �`
<br /> � made.The frunds are pledged as additional sccurity for all sums sccured by this Security InstrumenG ti
<br /> �,. . If the Funds held by Lender exceed the amounts permitted to be held by applicable law.Lender shell account to Borrower for
<br /> � the excess Funds in accordance with thc requirements of applicable law.If the amount of the Funds held by L.ender at any time is �
<br /> � not sufticient to pay the Escrow Items when due,Lender may so notify Borrdwer in writing,and,in such case Rorrower shall pay .--
<br /> �� to Lender the amount necessary co make up die de�iciency. Boaower shall make up the deficiency in no more than tweive =-
<br /> � monthly paymcnts,at Lender's sole discredon. _
<br /> � Upon paymcnt in fuU of all sums securcd by this Security Instrument,L,ender shall promptly refund to Boaower eny Funds �-
<br /> ; held by L.cnder.If,under paragraph 21,Lender shall acquire or sell thc Property,I.endcr.prior to the acquisiaon or salc of thc —
<br /> �; Property, shall apply any Funds hcld by Lendcr at the time of acquisiuon or sale as a credit against the sums secured by this
<br /> Security Instrumcn� -
<br /> ''�' 3.Applkation of PAyments. Unless applicuble law provides otherwise,all payments received by Lendcr under paragraphs - -
<br /> 1 and 2 shall be applied: first, to any prepayment charges due under the Note; second,to amounts payable under paragraph 2; _
<br /> third,to lntcrest due;fourth,to principal duc;end last,to any late charges due under the Note.
<br /> 4.�harges;Liens. Borrowcr shall pay all taxes,assessments, charges,flnes and impositions auributable w the Property .�_'�•�°-__
<br /> � which may attain priority ovcr this Sccuriry Instrumcnt,and lcasehold paymcnts or ground rents,if any. Borrower shall pay thesc '°
<br /> obligations in the manner provided in paragraph 2,or if not paid in that manncr,Borrower shall pay them on time direcdy to the . �i.�''
<br /> person owed payment. Borrowcr shall prompdy fumish to Lendcr all notices of amounts to be paid undcr thls paragraph. If �
<br /> Bonower makes these payments d'uecdy,Barrower shall promptly fwnish to Lender receipts evidencing the paymenis. "•�,; ' .�'��'
<br /> Borrower shull promptly discharge any lien which has priority over th:s Security Instrmnent unless Borrower:(a)agrees in , . :�"=�' �,;;:
<br /> writing ro the payment of the obligauon secured by the lien in a manner acceptable to Lender;(b)concests in Qoad faith the lien �+ 't','"J=�N,t.. -
<br /> by, or dafends against enforcement of the lien in, Iegal proceedings which in the Lender's opinion operate to prevent the.
<br /> ' cnforcemcnt of thc lien;or(c) sccures trom the holder of thc licn an agrecmcnt satisfactory to Lcndcr subordinapng thc lien to I '
<br /> this Security InstrumenG If Lender determines that any part of the Property is subject ro a lten which may attain prioriry over this
<br /> Sccurity Instrument,Lcnder may givc Bonowcr a noticc idcndfying thc lien.Borrowcr shall satisfy thc lien or take one ar more �
<br /> � of thc actians sct forth abovc within 10 days of thc giving of noticc.
<br /> i Form 3028 0/80
<br /> , �•8R(NE)le2izl.o+ Pape2o�e im�uu:
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