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<br /> TOGET!IER WITH aJl the impro��ements now or hereafter erected on the property,and all easements, appurtenanCes, and
<br /> fxtur�s now or hereafter � pan of the groptrty. All replacements and additions shall also be covered by this Security j
<br /> Instrumeet. All of the foregoing is referred to in this Security Instrrument as the"Property.' �
<br /> BORROWER C.OVENANTS that &�rrower is lawfupy seised of the estate hereby rnnveyed a�d has the right to grant and
<br />. convey the Property and that the Property is unencumbered, e;tcept for enrumbrances of record. Borrower wamants and wil!
<br /> defend generally the titfe to the Property against all claims and demands, subject to any encumbrarrces of record.
<br /> THIS SECURITY INSTRUMENT combines unifcrm covenants for national use and non-uniform crvenants with limited "
<br /> variatiors by jurisdiction to constitute a uniform security instrument covering reai property.
<br /> UNIFORM COVcNANTS. BorroK�er aiid Lender rnvenant and agn,e as follows: �
<br /> 1. I'ayment of Principal and Interest; Prepayment and Late Charges. Borrower shall prompcly pay when due the j
<br /> *1>��ncipai of and interest on the debt evidenced by the Note and any prepayment and late charges due under�he Note. ;
<br /> 2. Funds for Taxes and Insurance. Subject to applicable law or to a written cvaiver by Lendery$orrower snall pay to � �
<br /> Lender on che day month(y�ayments are due under the Note, until die Note is aid in full, a sum Funds" for: a �
<br /> P (" ) ( )yearly taxes
<br /> and assessments�vhicFi may attain griority over this Security�nstrument as a lien on the Pro�erty; (b)yeerly le,asehold payments '�
<br /> or grounci rents on the ProFerty, if any; (c}yearly hazarcl or property insLrance premiums;(d)yearly flood in.euran�ti premiums,
<br /> if any; !e) yearly mortgare insurance premiums, if any; and (� any sums payable by Bormwer to Lender, in accordartce with �
<br /> the provisions oC paragraph 8, in iieu of the payment af mortgage insurance prerniums. Th�e items are called "Escrow Items." � �
<br /> I,ender may, at any time, collect and hold Funds in an amount not to execed the maximum amount a lender for a federally � � !
<br /> related mortgage :oan :nay require for Borrower's escrow accovnt under the federal Real Estate Setdement Procedures Act of � " i
<br /> 1974 as ame�ded frorr� time to timc, ]2 U.S.C. Section 26Q1 et seq. ("RESFn"), unless another 13w that anp(ies to the Funds (r �
<br /> sets a lesser aTnounc. If so, L.ender ►nay, at any time, collect and hold F�nds in an amount not to exceea the lesser a.mount. � �
<br /> Lender may estimate the amount of Funds due on the basis of cunent data and reasonable estimates of expenditures of future �
<br /> Escrow Items or otherwise in accordance with applicable 1aw.
<br /> The Funds shall be held in an institution whose deposits are insured by a federai agency, instr�mentality, or entity
<br /> (including Lender, if Lxnder is such an institution)or in any Federal Home Loan Bank. L,en�+er shall apply the Fur,ds to pay the
<br /> Escrow Items. Lender may n�t charge Borrc�wer for holding and appiying the Furuis, annually analyzing the escrow account, or
<br /> verifyir.g the Fscrow Items, unless L.enaler pays Borrowe*interest on the Funds and applicable law permits L,ender to make cuch
<br /> a charge. However, i,ender may require Borrower to pay a one-time charge for an independent real estate tax °eporting service
<br /> used by Lender in connectiun with t}iis loan, unle.es applicable law provides otherwise. Unless an agreement is made or
<br /> applicable law requires interest t�be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds.
<br /> Borrower and Lender may agrec in writing, however, that interest shall be paid on the Funds. i.ender shall give ro Borrower,
<br /> without char�e, an annual accounting n;';;� �urxjs, showing cre�its and debits to the Funds and the purpose fo� :�iuch each
<br /> debit to the Fm�ds was made. The Fi;nds are Dledged as�dditional security for all sums secured by this Security Instrument.
<br /> If the Funds held by Lender excred the amounts permitted to be held by applicable la�v, Lender shall account to Borrower
<br /> for the excess Funds in accordance wiiti the m.quirements of applicable law. If the amount of the Funds held by L.ender at any
<br /> time is not suf icir.nt to pay the Escrow Items when due. Lcnder may so notify Borrower in writing, and, in such case Borrower
<br /> �hal� pay to Lender the amount necessary• to make up the deticiency. Bc�rrower shali make up the deficiency in no more than
<br /> twelve monehly payments, at Lender's so[e discretion.
<br /> Upon payment in full of all sums secured by this Sec:urity Instrument, Lender shall promptly refund to B�rrou-er 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 againsi the sums secured by
<br /> this Security Instrument.
<br /> 3. Application of PaymenGs. Unless applicable law provides otherwise, all pay;nents received by I,ender under paragraphs
<br /> 1 and 2 shall be applied: first, to any prepayment charges due under the Note; second, to�mounts payabte under par;igraph 2;
<br /> third, to interest due; fourth, to principal due; and (ast, to any late charges due under the Note.
<br /> 4. Charges; Liens. Borrower shall pay ail taxes, ass�sments, charges, 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 siiall pay
<br /> thesc cblig�tions in the manncr provided in paragraph 2,or if not paid in that manner, Borrower shall pay them on tie�e directly '
<br /> to tt!e person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this p�ragrap;�.
<br /> If Borrowe�•makes these payments directly, Borrower shall promptly fumish ro Lender receipts evidencing the payments:-
<br /> Borrower shall promptly dischar�e any lien which has priority over this Securiry Instrument unless Borrower. (a)agrees in
<br /> writing to the payment of tlie obligation secured by the lien in a mainer acceptable to Lender; (b)conlests in good faith the lien
<br /> by, or defends against enforce�ent of the lien in, legal proceedings which in `the I,ender's opinion operate to prevent the
<br /> enforcement of the lien: or tc) secures from the holder of the lien an agreement satisfactory ro Lender sutx�rdinating the lien to
<br /> this Security Instrument. If Lender determines that any part of the Proper.y is subject to a lien which may attain prioriry over
<br /> this Security Instrument, Lender may�ive Borrower a notice identifying the lien. Borrower shall sadsfy the lien or take one or
<br /> more of the actions set forth above within 10 days of the giving of notice.
<br /> f orm 3028 9/9U
<br /> Fage 2 ot 6
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