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<br />TOGETHER WITH all the impro<,ements now or hereafter erected on tho property, and all easements,
<br />appurtenances, and firtures now or herear..er a part of the property. All repiacements and additions shalt also be cove1'ell
<br />by this Security Instrument. All of the foregoing is referted to in this Security Instrument as the "Propert)'." , .
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and h.l.S the nght to
<br />grant and ~onvey the Property alld that the Property is unencumbered, ereept for encumbranc:cs of record. Borrower
<br />warrants and will defend generally the title to the Property against all claims and demands, subject to any encum brancc:5
<br />of record. ,
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national uee and non-uniform cov;.;,ants wil~
<br />limited variations by jurisdiction to constitute a uniform security instrumentcovcring real property.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree lIS follows:
<br />L Payment of Principal an : Illterest; Prepaymenhnd Late Cbarps. Borrower shall prOmptly pay when due
<br />the pri nci pal of and interest on the debt evidenced by the Note an'} any prepayment and late charges due under the Note,
<br />2. Funds for Tales and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall
<br />pay to Le. nder on the day monthly pay. ments are due under the Note, until the No.te Is paid in. full, a su. m (-Funds-) for:
<br />(a> yearly tales and assessments which may attain priority over this Security Instrument lIS a lien on tho. Property; (b)
<br />yearly leasehold payments or ground rents 6n the Property, if any; (c) yearly hazard or property insurance premiumb~
<br />(cl) yearly flood insurance premiums, if any; (e) yearly mortgage insurance premiums, if any: and (f) any sums payable
<br />by Borrower to Lender, in accordadce with the proviai()f1S of paravaPh8, in lieu of the paymeniof mortgage insurance
<br />premiums, These items are allied -&Crow Items. - Lender may, at any time, collect and hold Funds in an amount not
<br />to exceed the maximum amount II lender for a federally related mortgage loa.'l may require for Borrower's C8Cf()w
<br />account under the federal RelIl Estate Settlement Proocdures Act of 19'7" ~ "~-mded from time to time, 12 U.S,C.
<br />Section 2601 et seq. ("RESPA -), unless anomer law that applies to the Pi':-..'is llC1S 11 !esserllmount'. If 90, Lender may,
<br />at any time, collect and hold Funds itl in amount not to exceed the ICSget aunounto Lenaer mm] eatimate the amount of
<br />Funds due on the basis of cum:nt data and reasonable estimates of expenditures of future Escrow Items or otherwise ir.
<br />accordance with applicable law. ... . .
<br />The Funds shall be hdd in an institution whose deposits are insured by a f~1 agency, instrumentality, or entity
<br />(including Lender, if Lender is such an institution) or in any Pede",1 Home Loan Bank. Lender shall apply the Funds to
<br />pay the Escrow Items. Lender may not charge Borrower for holding and applying the Funds, annually analyzing the
<br />escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. However, Lender may require Borrower to pay S one"'time charge for an
<br />independent real estate tax reporting set"Vite used by Lender in connection with this loan, unless applicable law provides
<br />otherwise. Unless an agreement is made or IIpplicable la"- requires interest to be paid, Lender shan not be required to
<br />pay Borrower any interest or earnings on the Funds. Borrower and Lender may agree in writing, however, that interest
<br />shall be paid on the Funds. Lender shall give to Borrower. without charge, an annual accounting of the Funds, showing
<br />credits and debits to the Funds and the purpose for which each debit to the Funds WIIS made. The Pund!lllre pleda~ lIS
<br />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, U;;:;!:::- :';:iilii account to
<br />Borrower for the excess Funds in accordance with the requirements of applicable law, If the amount of the Funds held
<br />by Lender at ftny time is not sufficient to pay the Escrow Items when due, Lender may 90 notify Borrower in writing,
<br />and, in such c~ Borrower shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make
<br />up tne deficiency in no more than twelve monthly payment9. at Lender's sole discretion.
<br />Upon payment in full of all sums sccuredby this Security Instrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender, If, under paragraph 21, Lender shall acquire or sell the Property, Lender, prior to the
<br />acquisition or sale of the Property, shaH apply any Funds held by Lender at the time of acquisition or sale as a credit
<br />against the soms secured by this Security Instrument.
<br />3. Application of Payments. Unless applicable law provides otherwise. all payments received by Lender under
<br />paragraphs I and 2 shall be applied: first, to any prepayment charges due under the Note; second, to amounts payabl~
<br />under paragraph 2; third, to interest due; fourth, to principal due; and last, to any late charges due under the Note.
<br />4. 'f~a~ges; .qens. !3orr?w~r shall pay. all taxe;;, llS:SeSSments, charges, fines and impositions attributable to the
<br />Property \thlCh may attalD prlOnty over thIS Secunty Instrument, and leasehold payments or ground rents, if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower
<br />shall pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of
<br />amounts to be paid under this paragraph. If Borrower makes these payments directly, BolTOwer shall promptly furnish
<br />to Lender receipts evideccing the payments.
<br />Borrower ,,1,011 ~'~:,,:,:;-~';: ,~.~.:,,,..ge <lny i;,,;; wilich has priority over this Security Instrument unless Bonower: (a)
<br />IIgrees In writing to the p/lyment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in
<br />good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion
<br />operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to
<br />Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject
<br />to a lien which may attain priority over this So<:urity Instrument, Lender may give Borrower a notice identifying the
<br />lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of
<br />notice.
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<br />Ferm 3021 "'0
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