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<br /> TOG�THHR WITIi all the impravements now or herea{ter erected on the property, and all easementa,
<br /> � appurtenances,and tixtures now ar hereafter a part of the property.All replacem�nts and additione ehall also Ue covercci
<br /> ,;'� by this Security Instrument.All of tha fa��go°Bof si�aWfully�seised ot thetestate h eby onveyed and has the right to •
<br /> ����, BORROWER COVENANTS that =
<br /> grant and con�ey the Property and that the Praperty is unencumbered. except for encumbrances of record. Borrower
<br /> ,'�""°'""� warranta and will defend generally the title to the Property against all Glaima and demands,aubject to any encumbranc�
<br /> �� of recard. �
<br /> THIS SECURITY INSTRUMENT combines uniform covenants tor natianal use and non'uniiorm covenante witkl!
<br /> � limited variations by jurisdiction to c�nstitute a uniform security instrument covering real property.
<br /> UNIFORM COVENANTS.Borcower and Lender covenant and agree as followa: N
<br /> • 1.Paymeat of Principal and Intarest;Prepaymeut�nd Lt4e Charges.Borrower shall promptly pay when due� __
<br /> the principal of and intere.gt on the debt evidenced by the Nate and any prepayment and late charges dt�e under the Note. Q
<br /> 2. Funds ior Taxes tnd Insurance. Subject to applicable law or to a written waiver by Lender, Borrower s ha ll�
<br /> pay ta Lender on the day monthly paymente are due under the Nota,until the Nota is paid in full,a sum ("Funds")for�
<br /> (a)yearly taxes and assessments und rents on he Property�f any; (c�yearly hazard or p operty in uran erpr�eem�ume; �
<br /> yearly leasehold payments or gr
<br /> {d)yearly flood insurance premiums,if any;(e)yearly mortgage insurance premiums,if any;and(f}any sume paya e
<br /> by Bonower w Lender,in accordance with the provisions of paragraph 8,in lieu o4 the payment of moctgage insurance
<br /> premiums.These items ara celled"F..scrow Items."Lender may,at any time,collect and hold Funds in an amount not
<br /> to exceed the maximum amount a lender for a fedarally relnted mortgage loan may require for Borrower's escrow
<br /> account undet the federal Real Estate Settlement Procedures Act of 1974 as amended from time to tim�n�2 Um y,
<br /> Section 2601 et seq. �"R�PA"),unless another law that appliea to the Funds sets a lesser amount.If so,
<br /> at any time,collect and hold Funds in an amount not to exceed the lesser amount.I.ender may estimate the amount of
<br /> Funds due on the basis of cunent data and reasonable estimates of expgnditures of fnture Escro�v Items or otherwise in •�
<br /> accordance with applicable law. s`
<br /> _.� The Nunds shall Ue held in an institution whose deposits are ineured by a federal agency,instrumentality;�r entity _
<br /> (including Lender,if e I.endersma not�charge Bonower t F hold ng a d apply ng h Fundss annually analyzing the -_.
<br /> � pay the Escrow Item . Y
<br /> escrow account, or verifying the Pscrow Iteme,unless I,ender pays Borrower interest on the Funds end applicable law .�
<br /> permits Lender to maka such a cherge. However, Lender rney require Bonower to pay a one-time charge for an !_,.
<br /> independent real estate tex reporting servica used by I,ender in connection with this loan,unless applicabla law provides -
<br /> ' " otherwise.Unless an agreement ia made or applicable law requires interest to be paid,Lender shhll not�that interest ���
<br /> pay Borrower any interest or earninge on the Funds.Borrower and Lender may agree in writing, owever, _._
<br /> � shull be paid on the Funds.Lender shall give to Borrower,without charge,an annual accounting af the Funds,showing ;:--
<br /> credits and debits to the Funds and the purpose for which each debit to the Funda was made.The Funde are pledged as _�.�
<br />' additional security tor all suma secured by this Security Inatrument.
<br /> If the Funds held by L.ender exceed the amounte permitted to be held by applicable law, Lender shall account to ���
<br /> Borrower for the excess 1�unds in accordance with the requiremen.ts of applicable law. If the amount of the Funds held �
<br /> �' ' by Lender at any time is not sufficient to pay the Fscrow Items when due,Lender may so notify�3orrower in writing,
<br /> and,in such case Borrower shall pay to I.ender the amount necessery to make up the deficiency.Borrower shall make
<br />- up the deficiency in no more than tweive monthly paymenta,at I.ender's sole discretion.
<br /> ' •, LJpon payment in full of all sums secured by thie Security Instrument,Lender shall promptly refund w Borrower _
<br /> any Funds held by Lender. If, under paragraph 21, L.ender shall acquire ar sell the Property, I.�nder, prior w the E
<br /> �� acquisition or sale of the Property,shall apply any Funds held by Lender at the time of acquisition or sale as a crcdit �
<br />_ „' against the suma secured by this Security Instrument. �
<br />_' 3. Applic�tion of Payments.Unless applicable law provides otherwise,all payments received by Lender under _-
<br /> paragrapha 1 and 2 shal]be applied: first,to any prepayment charges due under the Note;second,to nmounts payabla �.
<br /> � . under paragraph 2;third,to interest due;fourth,to pnncipal due;and last,to any late charges due under the Note. r'..-
<br /> • 4. Charges; Liens. Borrower shall pay all taxes, assessments,charges,fines and impositionA attributeble to the �°T_
<br /> Property which may attain priority over this Security Instrument, and leasehold payments or ground renus, if any. �„;;_
<br /> � Borrowec shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner,Borrower
<br /> shall pay them on time directly to the person owed payment. Borrower shall promptlp furnish to Lender all notices of . _
<br /> amounta to be paid under this paragraph.lf Borrower makes these payments directly,Borrower shall promptly furnish ,. _
<br /> to Lender receipts evidencing the payments. -
<br /> Borro�ver shall promptly discharge any lien�vhich has priority over this Security Instrument unless Borrower: (a)
<br /> . agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b)contesta in
<br /> good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion
<br /> operate to prevent the enforcement of the lien;or(c) secures from the holder of the lien an agreement satisfactory to
<br /> ILender subordinating the lien to this Security Instrument.If Lender determines that any part of the Property is subject
<br /> { ta a lien which may attaiti priority over this Security Instrument,Lender may give Borrower a notice identifying the
<br /> Ilien. Borro�ver shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of
<br /> � not:ce.
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