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<br /> • TOGETHER WITH aU thc improvemencs now on c�rcaftcr crectcd on thc property, md all cascmcnts. appurtcni�nccs,�nd �`�*�
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<br /> fixtures now or hereafier a part of thc property. All repiaccments attd additions shall also bc covcrcd by this Sccurity ,r-`•4-':' -
<br /> ' Instrument.All of thc foregoing is rcferred to in this Securlty Instrumcnt as thc"Property."
<br /> BORROWER COVENANTS that Bottower is lawfully seised of thc estntc hcreby convcycd and has thc rtght to grnnt and :`:.,,�;���
<br /> , ��� convey the Properry and that the Property is unencumbered, except for encunibrances of record. Borrower warrants and will� . � ..yq4_ ____
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<br /> defend generally the title to the Praperty against all claims and demands, subj�c[to any encumbrances of record. __`_„__� _
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<br /> THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-�iniform covenants witli limited � .e^__
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<br /> vuiations by jurisdiction to constituce a uniform security instrument covering real property. �,___T�, _
<br /> UNIFORM COVENANTS.Borrower and L,ender rovenant and agree as follows: --
<br /> Prepaymeat snd Late Charges. Bonower shall promptly pay when due the .�j +;r���°-°
<br /> 1. Payment af Principal and Interest; � �
<br /> • principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under[he Note. _
<br /> 2. Ft►nds for Taxes and Insurance. Subjecc to applicable law or to a written waiver by Lender, Borrower s eu,l ptaxes I� _
<br /> Lender on the day moathly payments are due under the Note,until the Note is paid in full, a sum("Fun�dasT"1, leaschold ayments ,��•;;:'t.,;
<br /> and assessments which may attain priority over this Security Instrument as a lien on the Prope e�N)floodYnsurance premiums, �'� '�
<br /> or ground rents on the Property,if any; (c)yearly liazard or property insurance premiums; (d)y y ; __
<br /> if any; (e)yeazly mongage insurance premiums, if any; and (�any surns payable by Borrower to Lender, in accordance with
<br /> the provisions of pazagraph 8, in lieu of the payment of mortgage insurance premiums.These items aze called "Escrow Items."
<br /> Lender may, at any time. collec[ and hold Funds in an amount not to exceed the maximum amount a lender for a federally �t;;
<br /> � related mortgage loan may require for Borrower's escrow account under the federal Real Estate Set[lement Pracedures Act of
<br /> 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 /> se[s a lesser amount.if so, Lender may, at any cime, collect and hold Funds in un amount not to exceed the lesser amount. .:.•�J•
<br /> �• I.ender may estimate th� amount of Funds due on the basis of cunent daca and reasor.able estimates of expenditures of future _
<br /> Escrow Items or othernise in accordance with applicable law. , .�
<br /> " The Funds shall be held in an institution whose deposits are insured by a federal agency. instrumentality, or entity
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<br /> (including Lender, if Lender is such an institution)or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the ��' •�;
<br /> � Escrow I[ems.i.ender may not chargC B�iruwer far holdinb snd agglying�he Funds,annually analyzing the escrow accounc,or , �;�''
<br /> verifying the Escrow Items,unless Lender pays Bonower interest on the Funds and applicable law permits I.ender to make such }. ;: .J
<br /> a chazge.However, Lender may require Bonower to pay a one-time chazge for an independent real estate tax reporting service
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<br /> used by Lcnder in connection with this loan, unless applicable law provides otherwise. Unless an agreement is made or r'
<br /> applicable law requires interest to be paid, 1-ender shall not bc required to pay Bonower any interest or earnings on the Funds• :}�
<br /> Borrower and Lender may agree in writing,however,that in[erest shall be paid on the Funds. L.ender shall give to Borrower. f;
<br /> without charge, �u► annual acwuncjng of the Funds, showing credits and debits to the Funds and che purpose for which each •'• �,
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<br /> �: debit to tbe Funds was made.The Fiinds are pledged as additional security for all sums secured by this Security Instrument. �� �
<br /> If the Funds held by Lender exceed the amounts permitted to be held by applicable law,Lender shall account to Bonower ��.p
<br /> for the excess Funds in accordance with the requirements of applicahle law. If the amount of the Funds held by L.ender at any �: �_
<br /> time is not sufficient to pay the Escrow Items when due,Lender may so notify Bonower in writing,and,in such case Borrower �,...�.;_ �
<br /> shall pay to Lender the amount necessary co make up che deficiency. Borrower shall make up the deficiency in no more than �.��__
<br /> twelve monthly payments,at Lender's sole discretion. �z�t:,��.
<br /> Upon payment in full of all sums secured by this Secudty Instrument, Lender shall promptly refund to Borrower any �:�r��
<br /> Funds held by Lender. If,under paragraph 21, I.ender shall acquire or sell the Property, I.ender,prior to the acquisition or sale i l
<br /> ��' of che Properry, shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by v.:��_�—
<br /> � this Security Instrument. ;�`��
<br />_ �'',� 3.Application of Payments.Unless applicable law provides otherwise,all payments received b�y�nder undePr p gagrpaphs ..�__s��__ _
<br /> • 1 and 2 shall be applied:first,to any prepayinent charges due under the Note; second, to amounts a able under ara ra h 2; ,•.�� ����
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<br /> �v. third,to interest due;founh,to principal due;and last,to any late charges due under the Note. .,_�:�r____�
<br />= 4.Charges; Ltens.Bonower shall pay all taxes, assessments, chazges,fines and impositions attributable to the Property �--��^����::�'�-
<br /> which may attain priority over this Securiry Instrument, and leasehold puyments or ground rents, if any. Borrower shall pay �+'��,+;;��"
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<br /> � these obligations in the manner provided in pazagraph 2,or if not paid in that manner, Bonower shall pay them on time directly ,,.�
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<br /> _ ro the person owcdpayment.Bonower shall promptly fumish to Lender all notices of amounts to be paid under this paragraph. �:•.:?.LF�.r,`
<br /> If Borrower makes these paymencs directly,Borrower shall promptly furnish to Lender receipts evidcncing che paymencs. ,_�,. •
<br /> Borrower shall promptly discharge any lien which has priori[y over this Security Instrument unless Bonower: (a)agrees in ` .� ...
<br /> - writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b)contests in good faith the lien
<br /> by, or defends against enforcement of the lien in, legal proceedings which in the I.ender's opinion operate to prevent the
<br /> enforcement of the lien;or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to
<br />— this Security Instrument. [f Lender determines that any part of the Property is subject to a lien which may attain priority over
<br /> this Security Instrument,l,ender may givc Borrowcr a notice identifying thc lien.Borrower shall satisfy the lien or take one or
<br /> � more of the actions set forth aUove witliin 10 days of the giving of notice. ,
<br /> Form 30 8 9/ O '
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