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<br />-''''~�,����'� TOGGTlaER WITH oll thc improvemcnts now or hereafter crected on thc propertv,and ull cascmcnts,appurtcnunces, and
<br />��-��t��`-'•' �xtures now or hercaftcr n purt of the propecty. All replacements und additions shull also bc covercd hy this Security
<br /> �'�;� Ins[rumcnt.All uf thc(urcgoinb i+rcfcrrui to in this Sccurity Instrwncnt i�s thc "Property." r-_
<br />,__„�� BORROWFR CQVENANTS thut Borrower is lawfully seiscd of the cstate hereby canvcycd and has thc right to grunt and
<br />- y.-�; - canvey the Property and thut tlie Property is unencumberecl,except far encumbrances of record. Barr�wer warrunts and will
<br />_��+� aicfe:nd generally the tidc ta thc Property against all claims und demands,subject ta uny cncurnbrances of rc�ord.
<br />--"L°��� THISSECURITY INSTRUMENT combines uniform covenunts for nationul use und non-uniform covenants with limited
<br /> .'� vuriations by,jurisdictian to constitute a uniform security in�trument covering real propeny.
<br /> �• "�J'� UN IFORM COVENANTS.Borrower and Lender covenant nnd s�gree ns follows:
<br /> :�+�" '7; L PAyment of Principal and Interest; Prepayment snd Late Charges. Borrowcr shall promptly puy when due the
<br />.�•,._;.,.'':
<br /> �,�_ , . principal of and intenst on die debt evidenced by the Note nnd any prepayment and late charges due under tlie ote.
<br />-�_•s:., • �,
<br /> -,:.;?"t: 2, Funda for Taxe.g and Insurance. Subject to applicable luw or to a written waiver by C.en der, Borrowe r s h a l p a y t o
<br /> •�rx..
<br />_:,;.�+�°'' I.ender on ihe day monthly payments ure due under the Note,until the Note is paid in full,a sum("Funds")for:(a)yeAr y taxes
<br /> '�=��� and asscssments which may attain priority over this Security Instrument as a lien on the Property; (b)yearly leasehold payments
<br /> or ground rents on thc Property, if anJ�; (c)ycurly hazard or pmperty insurancc premiums;(d)yearly flood insurunce premiums.
<br /> '�'�=�' if any;(e)yearly �nartgage insurance premiums, if any;nnd(� any sums puyable by Aorrower to Lcndcr, in acwrdunce�vith -
<br /> ``"'��- � the provisions of paragruph 8, in licu of the payment of mortgas�insurance prcmiums. These items are called"Escrow Items."
<br /> ,.���!�ewx'v
<br /> Lender rnay, at any tiine, collect and hold Funds in an amount not to exceed the maximum amount a Iender for a federa y
<br />-=='��.f� relatul mortgage loan may require for Borrower's escrow account under the federnl Real Estate Setdement Procedures Act of
<br />_��;}.t• ` 1974 as amended from time to time, 12 U.S.C. Section 2601 e.t seq. ("RESPA"), unless another law that applies to the Funds
<br /> " sets a lesser amount. If so, L.ender may, ut Any time, collect and hold Funds in an amount not to axceed the lesser nmount.
<br /> -`�"`°''`"�� Lender rnay cstimatc the umaunt of Funds duc on the basis of current datn and reasanable cstimutes of expenditures of future
<br /> ��,:,,.���.�
<br /> __;� Escruw Items or otherwise in accordance with applicuble law.
<br /> _,.oa-,�.:;
<br /> The Funds shall be held in an institution whose deposits are insw•eci by a federal ugency, instrumentality, or entity
<br /> (including Lencler, if C.ender i�suct►an institution)or in any Federal Homc[.aan Bank. I.ender shnll apply thc Funds to oay the
<br /> =�"_;j;:?� Escrow Itcros. [.ender may not charge Borrower tor holding and applying thc Funds, annuaUy nnalyzing the escrow account,or
<br /> �t��:�s verifyin�the �scrow ltems, uniess I.ender pays Burrowc� iutc�rai��t�e i'ard;;,��appl�tizbl�!xv p�:mit:Lr.r.d�r te m�?s��ch .
<br /> -=��-'a!�?�'� a charge.However, I.endcr may requirc Horrower to pay a one-time charge for an indcpendent rcal estate tax reporting scrvice
<br /> --___-- used by I.ender in connection with this loan, unless applicable law provides otherwise. Unless an ngrcement is mnde or
<br /> _- - applicablc Inw requires intcrest to be paid, Lender shall not be required to puy Borrower any interest or carnings on the Funds.
<br /> __�-._� Aorrower and Lender mny agree in writing. howcver, thnt interest shall be paid on the Funds. I.ender shul! give to Borrower,
<br /> ---_— without charge, an unnual accounting of the Funds, showing cralits and debits to the Funds and the purpose for which each
<br /> -- debit to thc Funds was made. Thc Funds arc pledgcd as udditional security for all sums sccured by this Security Instcument.
<br /> `"T�� If the Funds held by L.ender excecd the amounts permittcd [o be hcld by npplicable law,Lender shall account to Borrower
<br /> _;;;_r��,,..� for tha excess Funds in accordancc with the requircmcnts of applicable law. If tlie amount of thc Funds held by L,ender at any
<br /> ���a� time is not sut'ficient to pay the Escrow Items when due,Lender may so notify Borrower in writin�,and,in such case Bonower
<br /> _;��� shall pay to L.cnder the amount necessary to make up the dcficiency. Borrower shall muke up the deficiency in no more than
<br /> =>-� twelvc rnunthly payments,ut L,�:ndcr's sole discrction.
<br /> _ `=`=-�� Upon payment in full of nll sums securcd by this Sceurity Instrununt, Lender shall promptly refund to Borrower any
<br /> �_�''�'s`�� Funds held by Lender. If,under parugruph 21, Lcndcr shall acquirc or sell the Property,I.ender, prior to the ncquisition or sale
<br /> -�`�"�;,�;� of the Property, shall apply any Funds held by Lender ut thc time of acquisition or safe ns a credit ngainst the sums secu►cd by -
<br /> --°"` this Sccurity Instrumcnt.
<br /> �s;�;;� 3. Application of Puyments.Unless applicablc law provides otherwise,all p;+yments reccived by I.ender under paragraphs
<br /> `�r���"��� 1 and 2 shall be applied: first, to uny prepuyment charges due under the Note; second,to amounts payable under paragraph 2;
<br />-'-`�'���� third,to interest duc;fourth,to principal due;and last,to uny late charges due under the Note.
<br />._�- ':,%:t�•'1��
<br /> �--��;;.._�� 4. Charges; Llens. Borrower shull pay all taxes,asscuments. chargcs, fines and impositiom,ittributable to the Property
<br />==-r=�='ra�� which rnay attuin priority ovcr this Sccurity Instrunient, and leasehold puyments or ground rents, if any. Horrower shall pay
<br /> ,��,P:="�•
<br />__ -� • ��-^� thc:se obligutions in thc manncr provided in paragraph 2,or if not paid in that munncr, Borrowcr shall pay thcm on timc dircctly
<br /> =-'-��a�l� to thc person owcd paymcnt. Borrower shull promptly fumish to Lender all notices of amounts to be paid undcr this paragraph.
<br /> �•���y . If Borrowcr mukcs thcsc r ments dircctl . Borrowcr shall rom d furnish to l.ender ru�ci ts evidcncin thc a mcnts.
<br />._ , p•y y P P Y P B P Y
<br /> ,, Bormwer shall promptly dicchurge any lien which has prioriry crver this Securiry Instrument unless Dorrower.(a)agrees in
<br /> � writing tothr payment uf the oblig�+tion secureci by the lien in �munner acceptable to Lender:(b)contests in go�d faith the lien _
<br /> � by, or dcfcnds against cnforccment of thc licn in, Icgal proccedings which in the Lcndcr'ti opinion operatc to prcvcnt the
<br /> enforccrncnt uf thc licn; or(c)sccures from thc holdcr of thc 1 icn un�igrccment tiatisfactory to LcnJer subordinatins thc licn to
<br /> � this Securiry Instrument. If Lender dctermines that any pitr�of�he Properry is subject to a lien which may attain prioriry over
<br /> F"
<br /> this Sccuriry Instrument. Lcndcr may givc Borrrnvcr a noticc idcntifying thc licn. Borrowcr shall satisfy the licn or ta c onc or
<br /> .. morc of the uctions sct forth ubovc within 10 days of thc givin� of noticc.
<br /> Porm 3028 9l96
<br /> " Papo 10l 6
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