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<br /> � 'IY}C)ET�IER WITI-I�ll the improvements now or hercaftcr crccicd on thc property,nnd nll cuscments, t�ppuxt�;nances,and � �
<br /> � fiatures now or hereafter a part of the pmperry.AU replacements end additlo�iH Fhall nlso be coaered by this Security lnsuumen� �.,.. � , .. ,
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<br />- All of thc foregoing is rcferred w�this Socurlty Inswment as thc"Pro�►crty." . ,
<br /> • BORROWER COVENANTS chat Borrowcr is lawfuUy sclsed of thu cstato hcrcby comcycd and hnfl thc right w grnnt and �.;`;:':,
<br /> canvey tlie Property and that the Pcoperry is unencumbered,except for enr.umbrssnces of rccos�l. 9onower warrants and will �: • � `� _
<br /> defend genexally the dtla to tha Property against all clnims and demands,subjnct u�nny encumbrpncos o.f recard. ���,���,��`:�;��.�::..�ti,;�� ,
<br /> THIS SECURITY IPiSTRUMENT combines unifonn covenants for nnticmnl u.sc and nan•unifomi cavcnants with limitcil ��,;::.���,;.�;•.,.�;;_.;,
<br />_, variadons by jurlsdIcdc�n to consdwte a unifom►security inswmcnt coverinB rexl pr�ncrty. r'.>'• .��•���•��,";',�
<br /> „ " UMFORM COVEIVAN'T5.Barrower and Lender covenent and agrec as fo�lnwn: ��;;;:�: ' �':,:;,:'�''::`
<br /> 1.Paya�ent at Princips��a�l Interest;Prepayment and Latc Chnrgcs. Bs�raowcr shull prampdy pay whcn due the • '���'�.
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<br /> . princlpal of and intesest on the debt evidenced by tho Note and nny prepaymant und lnto chargcs�duu undcr tho Notc. ° � •:;,�,•:;: . .
<br />-- 2.Fuads for Taxes aud Insurance. Subject to appllcable law or to a wriuen wafvcr by Lender. Borrowee shaU pay to ;��; ,'•' ' '�'r`'��:�`s
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<br /> # Lender an thc day manthly payments are due under thc Note,unW tho Note is paid in full,e sum("Funds")for.(A)yearly taxes ;�,;,�f.+�:�, ;;.'`,,t�,,;�+� . .,,
<br /> � and assessments which may aUai��prIo�ity over this Sccucity Inswment as a llen on the Praperty; (b)ycar�Y teasehold paymenta � _
<br /> � t� or ground rents cm the I'ropeety,if any;(c)yearly ha�rd or propeny insurance premiums;(d)yearly flood insurenw premiums,if � �• �i`� ; �,�
<br /> e any; (e)yearly ra�ortgage insw�nca premiums,if nny;and(�any sums payable by 9orrower to Lender. in accordance with tho �:;' , •,;••:•:�.'
<br /> .".,;.,'•�.`�;:�
<br /> � provisions of paragraph 8, in lieu of the payment of mortgage insmrancc premiums. 'Ihesa itcros�ra cnlled "Escrow Itcros." ,?;,;; ����•.:::�. • _
<br /> Lcndcr may,ai any Q�occ,culle:.t and hald Funds in an amount not to excecd tho maximum amount a tcndcr for a federaUy rclated 4:`��: . ;�1i,.�;•`r�f:;��:.••�.., :
<br />� mortgage loan may reyuira for Borrower's escrow account undea the fedecal Real Estatc 3ettlement Proccduns Act of 1974 av y',,;:. ;,�.'d1�� •
<br /> � amended from time to time,12 U.S.G Section 26Q1 et seq. ("RESPA"),ttnlcss anothcr law that applics to thc Funds se4s a lesser �+.-:��� _�i��('!":�;.�-�
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<br /> � • � amount. If so,I.ender may, at any dme, coUect and hold Funds in en amount not to axc�ed thc Ie,sser amaunG Lcnder may t�'��.•,;•,:��.,,:',.:�:;;'�
<br /> ��..`�, ;�,:�,;;j,'..,,i`,,�':
<br /> estimate the amount of Funds due on the basis of current data�v�d reasonable estlaiates of expz.nditares of future Escro�v Ileana or ,��� �,,.__
<br /> '.�� 1 othenvise in accordancewlth spplicable law. .;; , �, <�•v4��,
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<br /> � ' 'Ilie Funds shaU be held in an insdt�don whose deposits ace insurcd by n fcderal u�sncy,instrumentallty.or cntiry(fncluding `: ;��� ��`,��' �
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<br />-- '___ . I.ender, ii l.��ida� i�sucb an instituuan)ar sn any Fcx:err.� H�:ns I.3st! PA.t�lr.I rrrlc� chnll annly thc Funds W Day the Escrow � i r �#_ ,_ .� ;
<br /> ' Items.Lender may not charge Borrower for holding and applying t{le Funds,nnnuAlly analyzing the escrow account,or verifyidg � , � ;;'�' ;: ;:
<br /> the Bscrow Items,anless Lender pays Borrower interest on the Funds end appAcablo law permits T,ender W mako such a chargo. „y�.��:.�,fi.b ;
<br /> However,Lender may require Bonower to pay a one-time charge for en independent real estate emc repc►rting service used by ;►?�`;��;•�: :�:
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<br /> s , � Lcnder in connecdon with this loan,unlass applicable law provides otherwise.Unless nn ugrecment is medo ot appllc,ablo luw . �:�r.:tti; �
<br />_ requires interest to bcs paid,Lendcr shaU not be required to pay Horrowcr an Intcrest or camin a on thc Funda. Dorrower m�d � ��:��;��<.s
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<br />• Lender may agrce in writing,howcvc�r.that interest shall be paid on the Funds.Lender shall give to Bormwcr�without charge,en � �`�:.�;<<�;_��,
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<br /> annu�il accoundng of the Funds,showing credlts end debits w tlie Funds and the putpose for which each debit to the Funds wa� - ' `�;::J
<br /> nil
<br />�. �� � medu.'11to Funds ara pledged as addidonal securiry for all sums secured By this Security InswmenG ° ` �''�''�''
<br /> � lf the Funds hold by Lender exceed the amounts permiued to be held by appllcable law.Lender shail account to Horrower for '�' � � '
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<br /> � the excess Funds in accordanccs with the requirements of applicable law.If tho amount of tha Funds held by L.ender at eny timo i9 }�s� c, ;,'.
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<br /> not sufticient to pay the fiscrow Items when due,L.endor may so notify Borrower in writfng.nnd,in such cttse Batrower ahall pay •�+,��y„�,;�,;.
<br /> • . ' to Y.ender the umoun¢necessary to make up the duficiency. Borro�xcr shnll make up the deficiency in no more than twelve �;�:�:�tk;s�
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<br /> .. monthly payments,at Lcnder's sole discrcuon. :,;'�:��;�:�.;
<br /> '` �� Upoa payment in fuU of all sums secureti by this Security Instrument,Lender shnll prompdy refund W Bonower any Futtds "�''k�s�+�•:'4�.•'
<br /> • . . lield by Lender. If, under puragraph 21,L.ender shall acquire or scll the Properry,Lender.prior to thc ar.quislpun or salo of 1ho ?�r••��;;`ri�'��
<br /> Property,shall apply any Funds held by I.ender at the time of acquisirion or sale as a credit against the sums secured by this . • „+"?�':�`:::.'�-'
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<br />�. . Security InstrwnenG .tc„•�:;,"„�:_
<br /> - � 3.Appllcatian of Payments. Unless applicable law provides otherwise.all payrr�ents reccivetl by Lendcr undcr pnragrnphs �1�
<br /> .; • �Yi;;"��',",�
<br />� 1 and 2 shall be applied: Cust,to any prepaymenc charges due under the Note;secon�l,w wrwu�us{�ayable undcr ptvrngrnph 2; ,. �
<br />,+� third,to Interest due;fourth,to principal ducs;and last,to any late charges due under the Note. '. ,� � _
<br /> � 4.Chargcs;Liens. Boaower shall pay all taxes, assessments, charges. Cmes and impositions attributablc tcr thc Properiy
<br /> - which may att�in priority over this Security Instrument,and leasehold payments or ground rents,if any.�loanwcr shaU puy thcso
<br /> • obligations ln the manner provided in paragraph 2,or if not paid in that manner,Borrower shall pay thcm on timo dirccdy to tha
<br /> � � person owed payment Borrower shall prompdy furnish to Lender all nodces of tunounts to be paid undcr thiA paragraph. If
<br /> ' Borrower m�lces these payments direcdy,Borrower shell prompdy furnish to Lender receipts evidencing tha pAymenta. �
<br /> `� Borrowcr shall prompdy discherge any lien whlch has prioriry over this Securiry Instrumcnt untas Borrowcr: (u)agrccs in I
<br /> �; writing to the payment of the obligadon secured by tha lien in a manner acceptnble tc, Lender;(b)contnatn in good itutt►tho Ilen ;
<br /> -� - by. or dofenda ogainst enforcement of tho lien in, legal procecciings whici� in the Lender's opution opernW to praven¢ tho �
<br /> -. enfarcement of tl�o lien; or(c)secures from tha holdor of the lien an agGement snrisfactory to Lender subordinuttng 11io lien w
<br /> � this Socurity InsuumenG If Lender determines that any purt of the Property is subjcct to a lien which mny atmin prlority over this �
<br />— Secwity Instrument,Lender may give Borrower a noucc idcntifying tho licn.Boaower shall sadsfy tha licn or tako onc or maro :
<br /> - � � of the acdons set forth ebove within 10 days of tha giving of nodce. ,.
<br /> :�
<br /> • Form 3020 OI�O
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