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<br /> 1'O(3ETH6R WITH ull thc improvcmcnta now on c�rcafter crccted on thc property, and all cascments,appurtcnances, artd _
<br /> �xtures naw or hercatt�r a pan of the property.Atl replu�cements and addipons shell also be covered by this Security Instrument. ': �, _
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<br /> � All af thc forcgoing is rcfcrrcd to in this Sccuriry Instrumcnt as thc Property."
<br /> "' BQRROWER COVENANTS ihat Bonowcr is lawfully scised uf thc estatc hereby conveycd and has thc right co grssnt si►►d ,;;.>''::"-_
<br /> convey the Propeny and that tha Property is unencumbered, exeept for encumbrances of record. Borrower warrants and will ,�,.;1:: `
<br /> defend generally the dUe to tho Property against all claims and demends,subJect to any encumbrances of record. ��:'u''�_-�-
<br /> '�HIS SECURITY INSTRUMENI' combines uniform covenants for national use and non-uniform cavenants with limitct! �r==_=_
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<br /> � variadons by jurisdiction to consdtute s uniform security instn�ment covering real property. _:��;�-=-
<br /> UMFORM COVENAIVTS.Borrowcr and Lender covcnant and agree a�follows: ;:° ':'�
<br /> � 1.Payment otPrincipal and Interest;Prepuyment and Late Charges. Tlonowcr shall prompdy pay when duc thc �:. ,.,-
<br /> principal of and interest on the debt evidenced by the Note and any prepayment and late charges due ur►der the Note. .�..�=v'
<br /> 2.Ftimds for Taxes and Insurxnce. Subjcct to applicable law or w a wriuen waivcr by Lender, Borrower stieU pay to i�,ll.
<br /> Lender on thc day monthly payments are due under the Note,unul thc Nnte is paid in tull,a sum("Funds")for:(a)yeariy taxes ' _--
<br /> and assessmenis which may attain pciodty over this Sccurity Instrument as a lien on thc Property;(b)Year1Y leasehold payments ��
<br /> or ground rents on the Prapeny,if eny;(c)yearly hazard or property insurance premiums; (d)yearly flood insurance premiums,if
<br /> 'a?;_-�
<br /> uny;(e)yearly mortgage insurance premiums,if any;and(� any sums payable by Borrower to J.ender,in accordance with the ____
<br /> � provisions uf paragraph 8, in Gcu of the payment of mortgagc insurance premiums.Thcse itenis arc caUed "Escrow Items."
<br /> Lcnder may,at any timc,collect and hold Funds in an emount not W excced ttie maximum amount a lender for a federaUy related
<br /> �'' mortgage loan may require for Aorrower's escrow account under dte federal Real Es�ate Setdement Praceclures Act of 1974 as __
<br /> �, amendcd from timc to time,12 U.S.C.Secdon 2G01 et seq. ("RESPA"),unlcsy another law that applies to thc Funds sets a lesscr �.—
<br /> , Funount. If so, Lender may, at any dme, collect and hold Funds in an amount not to exceed the lesser amoun� L.en der may ry
<br /> ;� estimate the amount of Funds due on the basis of current data and reasoneble estimates of expendiwres of fuwre Escrow Items or
<br /> -_ - - otherwise in accordance with applicable law.
<br /> `� The Funds shall be held in an insdtudon whose deposits are Insurcd by a fcdcral agency,instrumu�ialiiy,�r entity tinc3udin$ �_
<br /> Lender,if Lcnder is such un insatuuon)or in any Federal Home Loan Benk.L.ender shall apply the Funds to pay the Escrow
<br /> no char e Borrower for ho l d in en d app lying t he Fun ds.a�m u a ll y e n a l y z i n g t h e e s c r o w a c c o u n t,or verif yin g �`-�-
<br /> �. Items.Lendet may t g S �
<br /> the Escrow Items,unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. _
<br /> '` However, Lcnder may requira Bonower to pay a one-time cherge for un indepcndent real estate tax reporting sen+lce used by _
<br /> �� Lender in connecrion with this loan,unless applicable law providrs othecwise. Uniess an agreement is made or zpplicable law _
<br /> � • requires interest u�be paid,Lender shaU not be required to pay Boaowcr any interest or eamin8s on d�e Fund3. Barrower and
<br /> �' Lender may agree in writing,however,d�at interest shall be paid on the Funds.Lender shall give to Borrower,without charge,an -
<br /> � annual occaunting of the Funds,showing credits and debits to the Funds and the purpose for which each debit to Ihe Funds was _
<br /> ` made.The Fun�ds are pledged as addiaonal security for all sums secured by this Se.curity InstrumenG
<br /> � If the Funds held by Lender exceed the amounts permitted w be held by applicablc law,Lender shall accuunt to Boaower for
<br /> the excess Funds in accocdence with the requaements of epplicable la�v.If the amount of the Funds held by Lender at any cime is
<br /> , � not sufficient co pay she Escmw Items when due,Lender may so natify Borrower in writing,and,in such case Boaower shell pay =
<br /> , to L�ndrr �he amount necessary to make up thc deficiency. Borrower shall make up the deficiency eu no more than twelve ^
<br /> monthly payments,at L.ender's solc discrcuon. k-'-- �
<br /> �; Upon payment in full of all sums secured by ihis Security Instrument,L.ender shell prampdy refund to Borrower any Fur.ds � -_
<br />_ held by L.ender.If, under paragrapl�21,Lendcr shall acquue or sell the Pcoperty,Lcnder,prior to the ncquisiuon or sale of thc p>=---
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<br /> �. Property, shall apply any Funds hcld by Lcndcr at thc umc of acquisidon or s a lc as a cr c di t agai n s t t h e s u m s s e c u r c d b y t h i s ---
<br /> ,_� Sccurity Inswmcnt. �,;i
<br />- ,�� 3.Applkation of Payments. Unless applicable law providcs othcrwisc,all payments receivcd by Lcndcr undcr paragraphs r.;.
<br /> 1 and 2 shall be applied: first, to any pcepayment charges due under the Note: second, to amounts payable under paragraph 2;
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<br /> third.to interest due;fuurth,to principal due;and last,to any late charges duc under thc Note. �,�--_ _ _
<br /> 4.Charges;Liens. Borrowcr shall pay all taxes, asscssmcnts,charges, fincs and impositions attributable to ihe Property ' q,_�._��
<br /> wl�ich may auain priority over this Security Insuument,and leasehold payments or ground rents,if any.Borrower shall pay ihese �.�,.__.-=-�.
<br /> obligutions in thc manncr providcd in paragraph 2,or if not paid in that manner.Bonowcr shsill pay thcm on time direcdy to the .";�"'''�~_
<br /> person owcd paymcnG Boaowcr shall prompdy fumish to Lcndcr all nodccs of amounts to be paid undcr ihis paragraph. If ��� "''-r-�,=-_
<br /> • � Aorrowcr makes thcse paymcnts direcdy,Bonowcr shall promptly fumish to Lcndcr reccipts evidencing the payments. • . _:..
<br /> Bonnwcr shall prompdy dischzrgc any lien which has prioriry ovcr this Sccurity Instrumcnt unlcss Borrower: (a)agrccs in _�___
<br />- writing to the paymcnt of the obligauon securcd by thc lien in a manncr acceptable to Lender;(b)contests in good faith the lien .'��"
<br /> I by, or defcnds against cnforccmcnt of the Gen in, Icgal proccedings which in thc L.ender's opinion operate to prevent thc
<br /> enforcement of the lien; or(c) secures from the holder of thc lien an agrecment satisfactory to L.ender subordinating thc lien to
<br /> � this Sccurity Instrument.If L.cndcr determincs that any part of thc Propeny is subjcct to a licn which may attain priority over this
<br /> Sccurity Instrumcnt,Lcndcr may give Borrowcr a notice identifying the lien.Borrowcr shall sapsfy Ihc lien or takc one or more
<br /> __ : of the acdons set fonh above within 10 days of the giving of noucc.
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