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20OOQ012� <br /> , 7"OGETHER WITH a11 the improvements now or hereafter erected on the property, and all easements, appurtenances, and <br /> fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security <br /> Instrument. All of the foregoing is referred to in this Security Instrument as the"Property." <br /> BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and <br /> convey the Property and that the Property is unencumbered, except for encumbrances of record. Bonower warrants and will <br /> defend generally the title to the Property against a11 claims and demands, subject to any encumbrances of record. <br /> THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited <br /> variations by jurisdiction to constitute a uniform security instrument covering real property. <br /> LJNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: <br /> 1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower sha11 promptly pay when due the <br /> principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. <br /> 2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to <br /> Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum("Funds") for: (a)yearly taxes <br /> and assessments which may attain priority over this Security Instrument as a lien on the Property; (b)yearly leasehold payments <br /> or ground rents on the Property, if any; (c)yearly hazard or property insurance premiums; (d)yearly flood insurance premiums, <br /> if any; (e) yearly mortgage insurance premiums, if any; and (fl any sums payable by Bonower to Lender, in accordance with <br /> the provisions of paragraph 8, in lieu of the payment of mortgage insurance premiums. These items are called "Escrow Items." <br /> Lender may, at any time, collect and hold Funds in an amount not to exceed the maximum amount a lender for a federally <br /> related mortgage loan may require for Borrower's escrow account under the federal Real Estate Settlement Procedures 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 /> sets a lesser amount. If so, Lender may, at any time, collect and hold Funds in an amount not to exceed the lesser amount. <br /> Lender may estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future <br /> Escrow Items or otherwise 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 <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 Items. Lender may not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or <br /> verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such <br /> a charge. However, Lender may require Borrower to pay a one-time chazge for an independent real estate tax reporting service <br /> used by Lender in connection with this loan, unless applicable law provides otherwise. Unless an agreement is made or <br /> applicable law requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. <br /> Bonower and Lender may agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, <br /> without charge, an annual accounting of the Funds, showing credits and debits to the Funds and the purpose for which each <br /> debit to the Funds was made. The Funds are pledged as additional security for a11 sums secured by this Security Instrument. <br /> If the Funds held by Lender exceed the amounts permitted to be held by applicable law, Lender sha11 account to Bonower <br /> for the excess Funds in accordance with the requirements of applicable law. If the amount of the Funds held 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 Borrower <br /> shall pay to Lender the amount necessary to make up the deficiency. Bonower shall make up the deficiency in no more than <br /> twelve monthly payments, at Lender's sole discretion. <br /> Upon payxnent in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any <br /> Funds held by Lender. If, under paragraph 21, Lender shall acquire or sell the Property, Lender, prior to the acquisition or sale <br /> of the Property, shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by <br /> this Secwity Instrument. <br /> 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under paragraphs <br /> 1 and 2 shall be applied: first, to any prepayment chazges due under the Note; second, to amounts payable under paragraph 2; <br /> third, to interest due; fourth, to principal due; and last, to any late charges due under the Note. <br /> 4. Charges; Liens. Borrower shall pay all taxes, assessments, chazges, fines and impositions attributable to the Property <br /> which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay <br /> these obligations in the manner provided in pazagraph 2, or if not paid in that manner, Borrower sha11 pay them on time directly <br /> to the person owed payment. Bonower shall promptly furnish to Lender a11 notices of amounts to be paid under this pazagraph. <br /> If Borrower makes these payments directly, Bonower shall promptly furnish to Lender receipts evidencing the payments. <br /> Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in <br /> writing to the payrnent 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 Lender'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. If Lender determines that any part of the Property is subject to a lien which may attain priority over <br /> this Security Instrument, Lender may give Bonower a notice identifying the lien. Borrower shall satisfy the lien or take one or <br /> more of the actions set forth above within 10 days of the giving of notice. <br /> Form 3028 9190 <br /> ��6N(NE) �s2i21.oa veea z or s i��t�ei$:�� <br />