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<br /> � • ` ;� TOQETH�R WITH alt the improvements now or hereufter crcctcd on thc property,and all cuscmcnls,uppurtenunces. �,.-, �;-.•:..�--..,....,.
<br /> .� : and fixtura now or hereafter a part of the property. All replucements and addittons shnll also be covercd by thi� Scrurity =_
<br /> 4"�•` .. ' ''''�'� InstrumenG All of the foregoin�is rcferred to in this Security Instrument as the"Property." _
<br /> ' ' BORROWER COVENANTS that Boaower is lawfully seised of the estate hereby conveyed and hav the right ta grtutt _
<br /> " �� ' and convey the Property and that the�'roperry is unencumbemd,except for encumbtances of record. Barrower warcunts und �=--
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<br /> • � wtil defend generally the tltle to the Properry against aU claims and demands,subject to any encumbrances of recor. _,
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<br /> • ° � � THIS SECURITY 1NSTRUMENT combines uniform covenants for nationat use and non-unifarm covenants with ��
<br /> ��� ° k` limited varlations by jurisdiction to constltute a uniform securiry instrument covering real property. ~-_
<br /> ,• LJI�IIF�RM COVENANTS. Borrower and I.ender covenant and agree as follows: �'�';;�-�___
<br /> • ' 1. Payment of Principal and Ioterest;Prepayment and Late Charges. Barrower shnll promptly puy when duc the .��_
<br /> ' ° principal of and interest on the debt evtdenced by the Note nnd nny prepayment and late charges due under the Note. ,�<��':;;,.,,:_
<br /> " 2. Flrnds for'l�axes and Iosurance. Suhject ro applicable law or to a written waiver by I.ender,Borrower shall pay to y_.';^,�___
<br /> �� Lender on the day monthly payments are due under the Note,until the Notc is paid in full,a sum("Funds")for.(a)yearly � G_ _ _
<br /> � - taxes and assessments which may attatn prlority over this Security Instrument as a lien on che Praperty;(b)yearly leasehold _____—
<br /> � payments or ground rents on the Pro�;erty, if eny; (c) yearly hazard or property insurance prem iums; (d) yearl y flood �Y='�"==����_
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<br /> insurance premiums, if any;(e) yearly mortgage insurance premiums, if any: und(� any sums payable by Borrower ta ��>•k�e'���"��-�'_
<br /> l/ •� � �'� �- Lender, in accordance wIth the provisions of para�raph 8, in lieu of the payment of mongAge insurance premium�. These .,�:��;
<br /> •� ^ Items are called"8scrow ftems.° Lender may,at any timc,collect and hold Funds in an amount not to exceed the maximum .. � " ,;
<br /> � amount a Icnder for a federnll mlated mort a e losn ma rc uirc for Borrowcr s cscrow account under thc federal Reat •� r�=`
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<br /> �� Estate Set�ement Procedures Act of IN74 as amended from tlme ro time, 12 U.S.C. §2601 et se .("RESPA"),unless another �� ' �"�''•=�-_
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<br /> - _ . ._ . i�w that nnj+l iea rn the Funds sets a lesses amounL If so,[.ender mny,at any time.collect and hold Funds in an amount not to __ •�--� °_-�
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<br /> � . exceed the lesser amount. Lender may estimate the amount of Funds due on the bas�s of current ducu anci reasonuoie T "�— r�--
<br /> . '� estimates af expenditures of future Escrow Items or otherwisa in accordance with applicable law. ,,'�'`'
<br /> Thc Furtds shall be held in an institution whose deposits arc insured by a fedrrai agency, instrumentality, or entity ° ., '��.
<br /> (includingl.ender.if Lender is such an institution)or in uny Federal Home Loan Bank. [.ender shall apply the Funds to pay + - .
<br /> � thc Escrow Items. Lender muy not charge Borrower for holding and upplying thc Funds, annually analyxing the eticrow • ''��:''`
<br /> uccaunt. or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and upplicable fnw permits �� •
<br /> " Lender tomake such a charge. However,Lender may requir� Borrower to puy a one-time charge for an independent reul •� , '�'�
<br /> e+tute tux reponing service used by Lender in connection with this loan,unless applicable law provides otherwise. Unless an �,',�� ,. '�.�
<br /> agmcenem is mede or applicable inw requires interest to be paid.Lender shnll not be required to puy Borrower any Interest or i ' ��
<br /> �� • enmingr:on the Funds. Borrower and Lendcr may a�ree in writing,however,thut interest shuU be paid on the Funds. C.ender "�' '
<br /> , xhull give to Borrower,without charge,an annual accounting of the Funds,showing credits and debits to the Funds And the • � ''r���``
<br /> _ purpo+e fa which euch debit to the Funds was made. The Funds are pledged as additional security for all sums secured by � _ '�"7'�,J •
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<br /> ' If the Funds hclJ by l.ender exceed the amounts permitted to be held by applicable law, Lender shatl account to � �
<br /> Banowerfar the excess Funds in accordance with the requimments of upplicable law. [f the amount of the Funds held by
<br /> Lcndcr ut nny time is not sufficient to pay the Escrow [tems when due. Lender may so notify Borrower in writin�,and,in , „ ..,� �
<br /> tiuch cuse Bortower shall pay to Lender the amount necessary to make up the deficiency. Borrower shail make up the
<br /> deficiency in no morc than twelve monthly puyments,at Lender's sole discretion. �� �
<br /> Upon pAyment in full of atl sums secured by this Security In,trument,Lender shall promptly refund to Borrower any �;. . �
<br /> � Fundn held by Lender. if. under paragraph 21,Lender shall acyuire or sell the Property,Lender,prior to the acquisition or � :_�.`; �
<br /> �ulc of thc f'roperty,�hap apply any Funds held by Lender at the time of acquisition or sule as a credit aguinst the sums _��'
<br /> +ecured by thls Security instrument. � �
<br /> • 3. Appllcatlnn of Payments. Unless applicable law provides othe�wise, nll payments mceived by Lender under � '
<br /> • p,uubruphs 1 und 2 shull bc:appiied:fir+t,to uny prepayment chArges due under the Note:second,to amounts payuble under ' . ° - �'
<br /> j parugroph 2; third,to Interest due;fourth,to principal due;und las�,to any late char�es due under the Notc. i . l�`�
<br /> ; 4. Churqe!z: Liens. Borcowcr shall pay all tuxes. asscssments, charges, fines and impotiitions attributablc to the
<br /> F'ruperty whi�h muy:►ttain priority ovcr this 5ecurity Instrumcnt,and Ieusehold payments or ground rents, if any. Borrower , .• •
<br /> shull puy�hc�c obligutions in the manner providcd in paragruph 2,or if not pa�d m that manncr.Barrower xhull pay them on ' : .
<br /> timc direct�y tu thc per�un owcd pnyment. Bo�rowcr shall promptly fumish to Lender up notices of nmounts ro be paid under • `�
<br /> thi+purugruph. If 8orrowcr makes these payments directly,Bunuwer shall promptly fumixh to Lcnder reccipts ev�dencing � .
<br /> thc p�ymcnt�. � ��
<br /> Borrower�hall promptly discharge any licn which has priority over this Sccurity Imtrument unle:,s Borrower:(a)agrees „
<br /> in wrlti��g lo thc puyment of thc obligation securcd by thc licn in•r manncr acccptxble to Lender.(b►conte�ts in good faith the
<br /> lien by, ur defcnd�aguintit enForrement of the lien in,Ie�al pr�xecdings which in the Lender',apinion aperate to prevent the ,
<br /> enfonernent uf thc lien:or Ic)secure�from the holder of thr licn an agreement sat i�factory to Lender tiubordinating the lien -
<br /> tu thi�S�rurity In+trument. If Lendrr detertnines that any pan of the Property is tiubjert to u licn which may attain priority
<br /> over thi�Securily In�trument.I.rnder may give Fiorcower a notice identifying thr lien. Borrc>wer.hall satisfy the lien or take
<br /> onc eir m�Kr af lhc artiun�set forth ubove within 10 dayti of the giving of noticr.
<br /> ' S. Hi�xurd or Property Insurance. Borrower shxll keep the improvement,now exi.ting on c�maftcr erccted on the
<br /> Pru�mrty mtiumd u}:siin�t lotiti by fire,hazurds inrluded within thc term"extended coverage"und any other hazards, including
<br /> • . fl�xxi�c,r tkKxtin�!, tirr which l.cndcr itiyuire}insurance. This insurance shall he maintained in the amounh and for the
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