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<br /> -- - . TOGEi'HER WITH all the impmvem�rita aow or heteafter erected oa the praperty,aad all e�se �r+�.ePP��.� . �.�' ' � .
<br /> .�`�• . , .
<br /> .. � � Suums now ordhereaft�r a pazt of ttce property. AI1 teplaoemeats and 2dditions shall also 6e covered by this Sec�►rity .# . . ' `
<br /> �r* Insuument.All of the fozegoing is referced w in this Sea�riry Insuument as the'Pmpeaty." { :,
<br /> :--- � BORRQWEEt COVENANTS ti�at Bastowes is la�rfnlly ssis�!of the estaze h�reby convey�and has the right to gcant ansl t . c —�— --- . .
<br /> ' c a a v e j+t h e p r a p e rt y an d t b a t t h e P r o p e�g+i s u n e n c u m 6 e r e d,e x c�p t f o r e n w m b r a n ce s o f r e�osd. B orrower w a r r a n t s a a d will � ' . , • .
<br /> , defend geneially the atie to the Praperty agamst all claims aad 8emaads,subject to aay encumbranoes of ncord. . . .
<br /> . , `.�4 TRIS SEC[JRYI'Y INS'd'ItiJMENT combiaes uniform aovenants for national use and aoa-uniform covenants with Umited � ' . .._ _ .
<br /> '.. ` .'o .. . variarions by,�isd�cnion w coasritate a unifoim seauiry tastcnmeut covering real gzvperty. � � _.:`.- --. --.-
<br /> '� �,: :'' :. � UN�ORM COt'PS►JANTS.Borrocve.r and Len.der oovenamt and agree as follows: . ` ,... � -
<br /> , � . . • l. P�,yme�t oi Ycindpl an8 I�PrepaFm�t aad�.ate Chaeges. Bormwer shall Pm�P�Y PaY wheu due die �• .
<br /> at of aIId'mterest on the debt evidenced h the Note aad and tate dne�der ttre Nate. � ` .
<br /> - P�P Y �Y P�P� � (.
<br />_ ' 2.�dg for.Taaes and Iasmance. Subject to applirable law or to a wriuen waiver by Leader,Borrower shaU pay to � . � '; .
<br />_.. . ,:._< . I�der on the dal+�Y P��ate due�mder the Y�Tote.�til the Note is paid ia fnll,a sum("Fvuds'?for.(a)Y�Y� .. . ; . . ,
<br /> mder
<br /> .. � ' and assessmenrs wluch may auaia prioriry ovet this Seauiry Insm�t as a lien on the Propert3►;(b2 YearIy leasdto2d payments � �. - ,. " .
<br /> ''. oT giOUIl�IEnts oa tlle PiOperty.if 2ay:(C)Ye2t1y h2T2I(1 or pl0perty 1ns�ranrE•premiuIDS;(d)Ye2tIY flood msur2Ace glemium3. � ` -t,
<br /> � if any;(e3 Y�I3+�nBaSe ins�uanse P�emi�. if a�iy;and(�anY snms Payabl�by Borra�ver to I.cader,in arcardance with 4 , , � �' . .
<br /> ns�uan re i
<br /> �:' ,� `" -• • the pmvisioas of paragiraph 8,in lieu of the payment of mortgage insurance premiums.These items are called'Fssmw Items.' , � .
<br />_ . _ � � t ender may,at an}r time.��ollect aud ho2d Funds in an amount not w exceed the maxi�m amount a Iender for a federalJy. � • � ��::.' . .
<br /> : . � .� : .
<br /> .,. . .... .
<br /> _. ._ ,--,-_., :. -.. ------��related-mortgage-laaa maY�ui�for Baaawer'-s�scraw-axmmt��dert6e-�edeial i�ea1�F.state-Seulement-Praoedvres�1ct�of - - .,' '. .--=--�—:--: —':'•
<br /> ,. . ,�
<br /> - . � � : 1974 as aflneadetl from time to tim�. 12 U.S.C.Se�tiaa 2601 eJ seq.("RESPA'),ualess anodter law tbat applies ta the Funds. � �. ' ' : ���•
<br /> '. ''` set�a lesser amnunt. tf so. Lender may, az a�r�me,collect and hold Funds in an amouat aot to exceed the lesser amount. � '�•-�-�.
<br /> e .
<br /> . �. - • � Lender may c.siimaie the amo�t pf Fimds dne on the basis of curr�nt data and reasanable estimates of expeadita�s of funue � , _ °;•� ,
<br /> .. .` Fscmw Items or othernise ia acxoidana with appUcable law. � � . ....-:�`�-'
<br /> - . 1he Fimds shall be hetd ia an institutioa wlsose deposits aze insuzed by a federal agency, incf.,,mee a�ity, or entity �• " ' - ` � :
<br /> �. . � . . Cmc2uding Lender,if Leader is suc�an institudon)or in aay Federal Home Loan Bank.Lender shall apply the Funds to pay tiie [ � :.
<br /> Escrow Items.Lender may not chazge Borrower for holding aad agplying the Fnnds.�nuaUy anaIy�ing the escrow account,or ' .�
<br /> , ' ' ' , verifying the Fscrow Items.unless LEnder pays Bortower intecest on the Funds and apglicable law permita Lender w make s�ch i. �� <f . :
<br /> :..,-- . - . ..
<br />-• - . a cd�arge.However,Lender may requue Boaower to pay a one-time charge for an mdependent rcal e,�tate tax reporting service i � '
<br /> �. . � nsed by I�ender ifl connerdon with this loan, untess applicable law provides otheiwise. Unless an agreement is made ar � ! . ���c ,�� .:
<br /> � � � applis�ble law mquire,a intemst w be paid,Ixnder shall not be required to pay Borrower aay interest or earnings on the Fuads. � .; ,�.',.•
<br /> ; Borrourer an�Lender may agree ia arridng,however,that interest s1�all be paid oa the Faads. Ixader shaU g"►ve m Bormwer, � ' '�;:f`.:;+
<br /> ... .
<br /> � . ' ' wishant chatge,aa aanval aoconnting af the Fiimds.showiag credits aad debiu to the Funds aad the putpose for which each ' ."'. :
<br /> ...: .:: �.-- -..,:__..._w . ,�.
<br /> - � debit w the Funds was made.The Funds are pledged as addit�onal security for all sums secured by this Securiry Insm�ment. � � � ' ,
<br /> , If the Funds held by Ieudelr exceed the ammmis permitted to be held by applicabte law,Lender shall account to Bormwer � • �• � ` � '��`
<br /> . .��-.��
<br /> : , ... for the excess Funds in acoordanoe with tbe requiremeats of applicable law.If the aznount of the Funds held by Lender at any ' . ' ; .�
<br /> � ��; :" time is nat su�cient w pay the Escrow Items when due.Lender may so notify Borrnwer in writing,and.ia such case$ormwer ? ' • ' ..'`'-y���'.
<br /> :. '' � :. : . sha11 PaY to Lender the amouat neoessary to malce up the deficiency.Bormwer shall make up the defccieaey in no mote Wan . �
<br />- :�: ' . taielve monthty payments.at lx�der's sole discretion. � ' .. , ' .
<br /> ��. Upon payment in fnU af all sams secured by this Secvrity Instnunent, Lender shall promptly refund to Borrower any : .
<br /> • �� •_ � Fuads held by l.eader.If,uadea paragraph 21,Leader shaU acqnue or sell the Froperty,I.ender,prior to the acquisidon or sale ' '
<br />`. � • � �` �` of the Prapetty,shall apply anyr Funds held by Leader at the time of acquisition or sate as a c�it against the sums secured by ; . �
<br /> _ : . �r� this Sectuity Ias�cn� ; � •,h,, .. �
<br /> ." � � 3.Applicatlon o!P�yments.Unless appllcable lavd provides oihe�wise,aU payments neceived by Lender under pazagaphs � . .
<br />_ 1 and 2 sba116e applied:fi�st,to alry ptepayment charges due under the Note;secanA,ta amounts payable under paragaph 2; • ;
<br /> � tbird,to inte�rst due;fourtb,to principal due;and last,to aay laze cLarges due uader the Note. � , � �
<br /> . . , • 4.Cbargeg.Liea9.Borrawer shaU pay all taxes.assessments, charges. fines an�impositions aun'buta6le to the Pmpeny . ..
<br /> ,, which may auain priority oves this Security Instn�ent, and leasehold payments or ground rents, if a�r. Borrower shall pay � � � �
<br /> • . these obligatians m We m�er pmvided'm paragragh 2.or if not paid in that manner,Borrower sLall pay them on tlme direcdy . .
<br /> r. ' to the rson owed � . �
<br /> Pe PaYme�nt.Bosrowet shall pmmptly fnmish Eo Leader all notices of amounts to be paid under this paragiapb.
<br /> � ]f Bormwer malces these payments directly,Borrower shall prompdy fumish to Lender receipu evideacing the paymeats. . . .
<br /> ' , : � Bonower shall prompdy discharge any IIen wluch has prioriry oves this Security Ins�ument ualess Bomower:(a)agrees in . �
<br /> writing to tIle payment of the obligation secused by the lien in a maaaer aoceptable to Lender:(b)contests in goad faitb the li� � " �
<br /> . hy, or defends against enfor�ement of the lien in, legal pmceedings aLlch in[he Lender's opinioa operate to prevent the . �
<br />�: , • enfo�ement of the l�en;or(c)secures from the holder of the lIen an ag�ement satisfaaory to Lender subordinating the lien to •
<br /> thls Sesurity Ins ��++�1. If L�ender deteimines that anyr part of the Pcoperty is subject to a lien which may attain pdoriry ovet : :
<br /> � •. �. ' this Security Instrument.Leader may give Borrawei a aorice ideniifying the lien.Bomower shall sasisfy ilie Iten or take one or
<br /> � more of tLe acti�ns set fortb above wiWin 10 daya of We givin$of uotice. . � �
<br /> _: '. . � ��3osa Q�so
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