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<br /> -- ..� •�,�� TOGETHBR WITH all the In�provements now or hercaftcr erected on thc propcny,arid all eascments, appunenanccs, and
<br /> _ , ',;�, fixtures now on c�reaftcr a pan of thc property. All replaccments and additions shall also be covcred by thls Security
<br /> -S"" •�'"°y [n�tcument.Ali of the foregoing Is referred to In thf6 Security lnstrument as the"Propcny.'
<br /> �'=''"''� BQRRdWBR COVENANTS that Borrower ia lawfully scised of the estate hereby convcyed and has the right�o grant and
<br /> ��".�''`'�� cc�nvey the Property end that the Propert,y is unencumbered, except for encumbrances of record. Borrower warrants and wiil
<br /> s.', • defend generally the�Itle to the Praperty against all claims and demands, subJect to any encumbrnnccs of record.
<br /> -t-�' � THIS SECURI7'Y INSTRUM�NT combines uniform covenants for national use and non-unifurm covena�its with limit�d
<br /> ' variations by judsdiction to constitute a uniform security instrument covering real properry.
<br /> �'�'��'�.�"!" UNIFORM C6VENANTS.Borrowcr and L.cndcr covenant and agrce as follows:
<br /> ' „�, 1. A�+yment ot PrinciFel xnd Inter�st; Pre�sayment pnd Late Charges. Borrowcr shall promptly pay wh�n due thc
<br /> '-��,;,,,��, principal of and interest on the debt evidencecl by the Nate and any prepayment and late charges due under the Note.
<br /> -_*''_"�iiii� 2. Ftindg(or Tpxes pnd Insurance. Su bject to app lica b le law or to a wri tten w a i v e e b y I.e n d e r, B o n o w e r s h a l l p a y t o
<br /> • � l.cnder on the day monthly payments arc due undr.r thc Notc,until the Note is paid in fuU,a sum("Funds") for:(a)yearly taxes
<br /> �.. �'" and assessments which may attain priority uver this Security instrument as a lien on the Propery; (b)yearly leasehold paymcnts
<br /> * � or ground rents on the Property,if any;(c)ycarly hazard or propeny insurance premiums;(d)yearly flood insurana prcmiums,
<br /> ; �•'""�� if any; (e)yearly matguge insurance premiums, if any; and(� any sums payable by Borrower to l.ender, in accordance with
<br /> ���,��n; the provisions of paragraph 8, in lieu of the payment of mortgage insurancx premiums. These items are called "Eurow Items."
<br /> ,�;.<.�' °� l,ender may, at any time, collcet and hold Funds in an amount not to excucl the maximum amount a lender for a federaUy
<br /> -;.. :ti. :��. related mongage loan may require for Barrower's escrow account under the federal Real Estate Settlement Procedures Act of
<br /> -r�':'�5;��'!� 1974 as amended from time to time, 12 U.S.C. Section 2601 et seq, ("RESPA"). unless another law that applies to the Funds
<br /> -"���`����' sets a iesser amount. [f so, Lcnder may, at any time, collect and hold Funds in an amount not to exceed the lesser amount.
<br /> ��r�,':, Lender may esdmate the amount of Funds due on the basis of cuncnt data and reasonable esdmates of expendirores of future
<br /> -''��""�` Bscrow[tems or otherwise in accordance with applicable law.
<br /> .�,..���t'•=;:� The Funds shall be held in an institution whase deposits aze insured by a federal agoncy, insnumentaliry, or cntity
<br /> -��;��•�`t.. � (including Lendcr, if Leuder is such an institution)or in any Fedcral Homc Loan Bank. Lcnder shall apply the Funds to pay the
<br /> ,:,�,,K."` Escrow Items.Lender may not charge Borrower for holding and applying the Funds, annually u�alyzing the escrow accaunt,or
<br /> }==..y.�:,�� �.'"'�� verifytng the Escrow Items,unless Lender pays Bonower inter�st on the Funds and applicable law permits Lend�r to make such
<br /> �����}�� a charge. However, i.ender may require Borrower to pay a one-time charge for an independent real estate tax reporcing service
<br /> �--:. '�' used by Lender in wnnection with this loan, unless applicable law provides otherwise. Unless an agreement is macie or
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<br /> -�-`�.�i applicable law requires interest to be paid, Lender shall uot be required to pay Borrower any interest or eamiugs on the Funds.
<br /> �_�`�"'`" Horrower and Lender may agrce in writing, however, that interest shall be paid on the Funds. Lendar shall give to Borrower,
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<br /> _-':;�:���� wit�out charge, an annual accounting of the Funds,showing credtts and debits to[he Funds and the purpose for which each
<br /> �;'�tk. debit to the Funds was made.The Funds are pledged as�dditional security for all sums secured by this Sxuricy Instniment.
<br /> --- � !f th:Pur.�+�hc!d b;lende*c:�Prrl rhe amoums�ermitted to be held by applicable law,I.ender shall ar,count to Borrower
<br /> =-�"��y=""�� for the excess�Funds tn accordance with the requirements of applicable law. If the amount of the Funds h�ld by Lender at any
<br /> �""`��"�� time is not sufficient to pay the Escrow Items when due, Lender may so notify Borrower in writing,and,in such case Bonower
<br /> �� shall pay to Lender the amount necessazy to make up the deficiency. L;ortower shall make up the deficiency in i�o more than
<br /> '".-� twelve monthly payments,at l.ender's sole discretion
<br /> _==-'�?� Upnn payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any
<br /> -°� Funds held by Lender. If,under puagraph 21, Lender shall xquire or sell thc Propeny,l.cnder,prior to the acquisition or sale
<br /> . at-s�ua� of the Property,shall apply any Funds held by Ltnder at the time of acquisition or sale as a credlt agalnst the sums secured by
<br /> �..� � this Sccurity Instrument.
<br /> ---`-�-g•--- 3. Appllcation of Payments.Unless applicable law provides otherwisc,all paymcnts received by l.onder under paragraphs
<br /> -----— 1 and 2 shall be applied: first, to any prepayment charges due under the Note; second,to amounts payable�mder paragraph 2;
<br /> third,to Interest duc;fourth,to principal due;and last, to any late charges due under the Note.
<br /> _ -- 4. Charges; Llen�. Bonower shall pay all taaes, a�sessments,charges, fines and impositions attrlbutable to the Property
<br /> �-=,R�s� " which may attain prtority over this Securiry Instrument, and leasehold payments or ground rents, if any. Bonower shall pay
<br /> ,-;:,�}�� these obligations in the manner provided in paragraph 2,or if not paid in that mumer, Horrower shall pay them on time dircetly
<br /> -"'�'m"_'L� to the person owed payment. Bonower shall promptly fumish to Lender all noti�:e:s of amounts to be paid under this p�ragraph.
<br /> �,..sp�� If Borrower makes these payments directly, Borrowcr shall promptly furnish to I.endcr receipts cvidencing the payments.
<br /> �=�,;�-� Borrowe�shall promptly dlschazge any lian which has priority over this Securiry Instrument unless Bonower.(a)agras in
<br /> — -- — writing ro the payment of the obligation secured by the lien in a manner acceptable to L.ender;(b)contcsts in good faith the lien
<br /> ��,��� by, or defends against enforcement of the lien in, legal proceuiings which in the Lender's opinion operate to pnvent the
<br /> —'"-�T-'"' enforcement of the lien; or(c)secures from the holder of the lien an agrccment satisfactory to L.ender subordinathtg the lien to
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<br /> - --�sp=�� this Securiry [nstrument. If Lender determines that any part of the Prcperty is subject to a lien which may attain priority over
<br /> ''`.'.��'.-��;Y'`Y`• this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or
<br /> _t�' • �: �=�. ' more of the actions set forth above within 10 days of the giving of notice.
<br /> .. . Pam 3020 9/9�J
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