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<br /> �, '� � ` TOGETHER WITH al!the inipmvemeats now or heieafter erected on the property.and all ease�rtents,appurtenances,and . � � _:
<br /> .:.: . � ' ' .
<br /> ��Y•" , . •fixtures now or hereafter a part of tt�.;�rape�ty. All replacements and additions shall also be covered by this Security •.� ' � � • _
<br /> ., . >
<br /> • ` . Insvumert.AII of the faregoing is referred to in this�ecurity Instrument as the"Property." , '. - �� ;..-` .
<br /> - • BORROWER COVENAPITS that Boraower is lawfiilly seised of the estate heneby conveyed aad has the righe W grant and . . . �.:
<br /> ., ' � .� ` cunvey the Property and that�he F�c�perty is�unencumber�d,except far encum5rances of record. Bomnwer warrants and will •
<br /> � defend geneiatly the title to the Prope�jr.against ail clai.ms and demands,subject to any encv�mbrances of�ecosd. • �: ,� _
<br /> � : ' 1TiiS SECIJRITY INS°I�tIJMfiNT coxnbines uniform covenanfs for nadonal use and non-uniform covenanu with limited • • �� <.:' _
<br /> — .. , darisuonc b�jurisdictioa to constitute a uniforai security insuument coverin�teal prope+ty. :, �� ��. .. ...�.�- ''
<br />� 5 .� _r,•.. ,, • UNIFORM COVENAId"TS.Bar:nwer and Iender covenant and ag�ee as follows: � � 4 '��
<br />�: " . 1. Mym�nt of FrIndpal and In4eresti �P83'meat aad I.ate Chacges. Borronrer shall prnmpdy pay when dae the ,_i"'� l}-�
<br /> `'�.-t;t���.,t�Rw�
<br />�"": � � r:� � principal of and interest on the debt evidenced bk the Note and any prepayment and tatc charges due ander the Note. • -_,,.;�_:___�:-
<br /> " ri�•r ` Z. Fands for Taxes and Luvr�.SubjeCt to dppficable law or to a written waiver by I.ender, Bortawer shall pay to = ��
<br />��L;. � � I.ender on the day montlily payments are dw:t�nder th�Note,unril the Note is paid in�ful1.a sum("Funds")for.(a)yearly taxes � =-- —
<br /> _-'=1 . � and assessmeats which may attain priority over.this Securiry Insuumerit as a lien on the Property;(b)Yearty�le�sed�oid Qavmems " , _-===-'_
<br /> ��':� . ., or ground rents on the Property.if any:(c)Year(y hazard or property insurpnce preminms:(d)Yearly tlood insurance grenuams, --_---
<br />°`� if azsy;(e)yearly mongage insurance,premiums, if any;and(�arry sums payable by�orrower to Lender, in accordance with
<br />=�� ' • the provisions of paragraph S. in lieu of the payment of mortgage iruurance premiums.These items are called'Fscrow Items," �
<br /> '�' �' ' � L�nder may.at any time.collect ansi hold Funds in an amount aot to excced the maximum amouni a leudrr for a frderally �:
<br />—�� .�:__��-_.'.;-
<br /> relazed mortgage loan may require for�orrower's escrow account�tnder the federal Real Fstate Setttement Procedures Aci of =W
<br /> . � ��a��naea�m ame co��.,t2 U.S_C. Section 2601 et seq. ("RESPA").untess aaother law that ap lies w ehe Fands
<br /> s-:... . .. .�.- -:.._.-- �----� ----- �-�-�---�--�- --�----��-�—�---�----p--- - -. .. _ . �,
<br /> •�� � • sets a lesser amount. If so. Leader may. at any time, wllect and hold Funds in an amount not to ezceed che lesser amount. ___
<br /> � �- Lender may esNmate the amourtt of Bunds due on the basis of current data and reasonabl�esdmates'of expendit�ms of fiature .
<br />_ " "• Escrow IteQis or otherwise in aocordance with applicable law.
<br /> -�_,.••��° �'� The Furtds shall be held in an instituuon whose deposits are insured by a federal agency, instrumentality, or endty � - _
<br />_�; ��� - -� �� (including l.ender:if Lemier is such an instituaon).or in any Federal Home Loan Bank.Lender shall agply the Futtds to pay the
<br /> - � . , Escrow Items. Lender may not charge Bomower for holding and applying the Funds,anauaUy analyzing the escrow account.or . _
<br /> - .,_ . • . . verifying ths Fscrow Items,unless Lender pays Borrower interest on the Funds and applicable law permits I.ender to make snch -- -
<br /> � � � � a charge.However.Lender may reyui.*e Borrower to pay a one-tifne charge for an insiependent real estate tax teporting service - -
<br />_ • � ,-� • used by Lender iA wnnection with this loan; unless applicable law provides otherwise. Unless an agreement is made or `
<br /> � ', applicable law requires interest to 6e Qaid.Lender shall not 6e required to pay Earrawer atry interest o�earnings on the Funds..
<br /> � � • . Borrotiver and I..ender may agree in writing, however, that interest shall be paid on the Funds.Lender shall give to Botrower.
<br />� . • . ,_ without c6arge,an annnal accounting�of the Funds, showing credits and debits to ti�e Funds and the purpos�for�vhich each _
<br /> • �� debit to the Funds was made.The Funds are pledged as additional secvriry for all sums secured by this 5ecurity Insuument. ''�
<br />�' " � : � If t1�e Funds hetd by Lender exceed�the amounu pemntted to be held by applicable law.Lender shall accauat to Borrower -- -
<br /> ' � • for the excess Funds in accordance with the requirements of applicable law.IF the amount of the Funds held by Lender at an}r
<br />-y �. � . time is not suffi�ient to pay the Escrow[tems when due.Lender may so notify Borrower in writing,and.tn such case Borrower _
<br />"';- .. �� • shall pay to•Lender the amount necessary to make up the deficiency. Borrower shall make np the deficiency in no more than =�y -- -
<br />�s ' . , � " twelve�montlily payments,at Lender s sole discretion. _-!
<br /> � Upon payment in fi�ll of all sums secured by this Security Instrument. I.ender shall promptly refund to Borrower any �`=a�.=='
<br /> �• �. � Funds hetd b l.ender.If.under ara ra h 2l.Lendcr shall ac uire or sel!the Pro e Lelder, nor to the a uisition or sale �;��_-'`"��,�.-
<br /> Y P S P 9 P *�Y. P� �i
<br /> � � •� of the Propert}+.shall appty any Funds held by l.ender at the time of acquisition or sale as a credit against the sums secured by� --_ __ _
<br /> �. .;; _ this Secvrity Insirumea� • '� _ __ -__
<br /> _ . . '� 3.Applicatioa of Pa3ments.Untess appltcable!aw provides otherwise.all payments received by Lender under paragraphs ;R�.
<br /> �� ��.' ! and 2 shall be applied: first,to any prepayment charges duc under the Note: second,to amounts payabte under paragraph 7: ==h��_•_, r,.{,��-
<br /> � � p• . • o to rinci 1 du • las o tat haz du nd r the Note. ."�,�:
<br /> third.to interest dae,f urth. p pa e.and t, t any e c ges e u e � ,,,
<br /> • • 4.Cha�es;Liens. Borrower shal!pay all taacs. assessments,charges,fines and impositions attributable to the Pr+operty � "��"-'-
<br /> . . . : ;�;:A,�;<,�
<br /> , • which may attain prioriry over this Security Instrument,and leasehold payments or ground renis,if any. Borrower shall pay � ,�;.
<br /> ~, � •_ these o6ligations in the manner pmvided in paragraph 2,or if not paid in that manner.Borrower shall pay them on time directty . '. � •
<br /> : to the person owed payment. Eorro�ver shall promptly fumish to Lendcr all notices of amounts to be paid ynrler this�:uagraph. � . � • .
<br /> ' . ' ' � If Borrower matces these payments directly,Borrower shall promptly fumish to Lender receipts evidencing the payments. � . : . ' �:
<br /> , • '� .. .� Borrower shall promptly discharge any lien�vhich has prioriry over this Securiry Instrument unless Borrower: (a>agrees in .
<br /> " • writin$ta the payment of the obligatian secured by the lien in a manner acceptable to Lender:�b)wntests in good faith the lien '� � � �
<br /> -� � . , �� by, or defends against enforcemem of the lien in, legal proceedings which in the l.e�er s opinion operate to prevent the . � � �
<br />- ' ••� � ' enforcement of the lien:ar(c)secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to •
<br /> - this Securiry instrument. li'Lender determines that arry part of the Property is subject to a lien which may attain prioriry over . , �
<br /> this Security(nstrument, l.ender may give Borro�ver a notice identifying the lien.Bono�ver shail satisfy the lien or take one or •
<br /> �. � .. _ more of the actions set fonh sibove�vithin 10 days of the giving of notice. '
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