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<br /> ''`'�'�' -- TOOETNBR WITH all the improvementa now or hareufter erected on tha propeiiy.and all easemcntx,appurtenancea,
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<br /> ----• end flxturcr now ar hereaiter a part of�he property. All replacements end additiona sholl�Ico bo covered by tlti�Sec tY
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<br /> In�wment. Ail of the foreguing is refemed to m this Secunty Insaument us�hc"Pru�rerly.
<br /> _a���.^ BORROWER COVENANTS that Borrower is lawfully seised uf the esta[e hereby cunvcyrJ und hns thc rfght to gmnt
<br /> a�d convey the Property at�d that the Property is unencumbered.except for encumbruncea af record. Borrower warrants and
<br /> �x will dcfend generWly the title to the PropeRy againat all claimc and demands,subject to any encumbrunces of record.
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<br /> ' �_'� -- '1'FIIS SECURITY 1NSTRUMENT combines uniform cavennnts for national use and non-uniform covenanta w . _ �
<br /> �`: limited variatians by jurisdiction to constitute a u�iform security inawment covering real property.
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<br /> UNIFORM COVENANTS. Borruwer and Lender covenant and agrec as fallows:
<br /> =v 1. PAyment of Principal and lntereat=Prepayment and Lote Charges. Borrower shall promptly puy when due the
<br /> •�n�+.���:�, principal of and inteKSt on the debt evidenced by the Note and any prepayment and late chargea duc under the Note.
<br /> '="*"''"`� ' 2. F un ds for'I hxes An d lnsurAn c e. S u b j e c t t a a p p l i c a b l e l a w o r t o a w r f t ten waiver b y Lendcr.Borrowcr ahall pay to
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<br /> ...�__,,�<�. l.ender on the day monthly puyments are due under thc Note,until the Note is paid in full.�aum("Funds")for:(a)year y
<br /> T - -�'"'—`'��,.;�: ;,� taxes and assassments which may attain priority uver this Security Instrument as u lien on the Property;(bl yew'1y leasehold a__
<br /> ���"` - . payments or ground rents on the Property, if any; (c) yearly hazard or property insurance premium4: ld) yearly flood _�
<br /> _-. �- insurance pnmiums, if eny; (e)yearly mongage inRUrance premiums, if any; and (� any sums payuble by Borrower to
<br /> ° — ti`���d°t Lender.in accordance wiU�the provisions nf paragraph 8. in lieu of thc payment of martgage insurancc premiumx. These _
<br /> y '���� ��� � items are cs�lled"Escrow Item4" I..ender may,ut any time.collect and hold Funds in an amount not to exceed the maximum
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<br /> ��---��:.�e nmount a lender fbr u federally releted moKgage loan may require for 8orrowers escrow account under the federal Rea �
<br /> -"�'��'""^�•�-' Estate Settlement Procedures Act of 1974 nx amended from time to time, 12 U.S.C.�2601 er seq.("RESPA").unless another
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<br /> �"•'�'� Iaw Ihat applles ta the Funds sets a lesser amount. If so,Lender may,at any time,collect and hold Funds in an amaunt not to
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<br /> -��"`"` �• � exceed the lesser iunount. Lender may estimate the amount of Funds due on the basis of current data nnd reASOna6 e «
<br /> ��*'�`� estimates of expenditures of future�scrow Items ur otherwise in uccordance with applicable law. _
<br /> `��,�_�I• •°;�• The Funds shall be held in an inxtitution whose deposits Are insured by a fedeml ugancy, instrumentaltty,or entiry
<br /> i��,-� ' �� ' � (including i.ender.if Lender is such an institution)or in nny Federal Home Loan Bank. I.ender shull apply ihe Funds to pay =
<br /> --f �,��• ?:'�:;�'• the Excrow Items. Lender muy not charge Borrower for holding and applying Ihe Funds,annually analyzing the escrow
<br />�� `" accaunt,or verifying the Escrow Items, unless Lender pays Borrower interes[on the Funds and applicable law permits
<br /> ..N� ~�� e�'^' :... 6
<br /> Lender to make such a charge. However,Lender may require Borrower to pay u one-time charge far an independent real
<br /> estate tax reporting service used by Lender in connectian wi�h this loan,unless applicable law provides�otherwise. Unless un �
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<br /> �, agre�,ment is made or applicable luw requires interest ta be puid,Lendcr shnll not be rcquired to pay Borrower any interest or �rr
<br />- ��" l�u eamings on�he Funds. Sorrower and Lender may agree in wnting,however,that interest shall be paid on tUc Funds. Lender
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<br />.+:,.��$ ,''t�•r • shall give ta Bcxrower.wilhout charge,an unnual accounting of the Funds,ghawing credits nnd debits to the Funds t►nd the �
<br /> _�',:�����'{'�!_.;;,��.� purpose far which each debit to the Funds was mede. The F�nds are pledsed as additional securiry for nll sume secured by
<br /> ,..� thiti Security{nstrumcat.
<br /> •,::,�j••% ' if the Funds hold by Lender exceed the amoums permitted to be held by npplicable Inw, Lender shuil accauni io _
<br /> �"',y .. Borrower for the excess Funds in accordunce with the requirements of applicuble law. If the umount of the Funds held by
<br /> ,�:....� �.+1.�;� , �� Lender ut any time is not sufficicnt to puy the Escrow Items when due,l.ender may so notify Borrower in writing,and, in _
<br /> such case Borrower shnll puv to Lender the amount necessary to make up the deficiency. Borrower shall make up the �
<br /> � '� � deficiency in no more than twelve monthly puyments,ut Lendcr's sole discretiun. __;
<br /> � • . � Upon payment in full of ull sums secured by this Security Instrument,Lender shall prompdy refund to Borrower any �;�, �:
<br /> , rx Funds held by Lender. If,under pnragruph 21, Lender shall acquire or sell the Property,Lender,prior to the acqui�ition or a_.
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<br /> . • �ale of the Property.shall apply t+ny Fundx held by Lender at �he time of ucquisition or sale as s+credit against the sums __
<br /> �_, secured by this Security lnstrument. _.�
<br /> ., „� . 3. Appltcatlon of PAyments. Unless upplicable law provides othenvise, ull payments received by Lender under _
<br /> paragraphs I und 2 shall be upplicd:firs[,to uny prepuyment chnrges due under the Note:second,to emounts payable under
<br /> y;::'• ' paragruph 2;third,to intercst due; fourth,to principal due;und lust,to uny late charges due under the Note. �;
<br />, , . ,�.. � �, 4. Charges: Liens. Borrower shull pay all tnxcs,atisessments, churges, �nes nnd impositions attributuble to the
<br />. Property which may auain priority over this Securiry Instrument,und Ieasehold pnyments or ground rents,if any. Borrower �_
<br /> ' shall pay these obligaticxis in thc mnnner providcJ in parugraph 2,or if not paid in thul manner,Borrowcr shall puy them on --
<br /> ' ' time directly to the person awed payment. Borrower zhall prompdy fumish to Lender all notices of umounts to be paid under
<br /> - •� � , this pa�agraph. If Borrower makes these paymems direcdy,Bormwer shull prompNy furnish to Lender receipts evidencing _
<br /> • the payments.
<br /> -'�: •• � . Borrower shull prampdy discharge uny lien which has prioriry over this Securiry Instrument unless Borcower:la)ugrees 1#;_
<br /> - „ ' � in writins to the paymenl of the ubligation scrured by the licn�n n munncr acccpt�ble to Lender:Ib)contesls in good fuith the E�:--:
<br />- ` �' '`� " lien by,or defends uguinst enforcement of the licn in.Iegul proccedings which in thc l.enJer's opiniun operate to prevent the �
<br /> •, enforcement of the lien;or(c)secures from�he holder of the lien un agrcement sutisfactory to l.rnder su6ordinating the lien �-��
<br />- � to this Security Ins�rument. If l.ender detertnincs�hut uny purt oP the Propeny is subject to a lien which muy attain prioriry �' '
<br /> ° over this Securiry Instrument.Lender muy give Bormwer u notice identifying the lien. Borrower shull satisfy the lien or take .,r
<br /> � one or mom af thc actions set forth ubovc within 10 cl•ry�nf Ihc giving of noticc. +�
<br /> 5. Nazard or Property Insurance. Borrowcr shull kecp the improvements now exi+ting or hereafter erected on the �'�
<br /> � - Properly insured uguinst loss by t'ire,huzards included within the term"rxtrnded coveraEe"und any other hazurds,including �
<br /> flonds or flooding,for which Lender reyuires inxuraix:c. This in+urunce .hull Ix maintained in the amounts and for the r
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<br /> � Form J02N 9/96 ipu.¢r 2 o/"e�wKes I �
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