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<br /> . �• . TOGETHER WI'["H alt the improvemenu now ar heteafter erected on the propetty.and a!1 easements.aPP�rtenaaces.and ,:�
<br /> , , `� ��,:` � fixtures now or hereafter a part of the properry. All replacements and additions shall also be covered by this Security �
<br /> y • Insmiment.All of the foregoing is referred to in this Security Instnunent as the"Property-" �
<br /> ��� � BORRQWER COVENANTS that Borrower is IawfuUy seised of the estate hereby conveyed and has the right to grani and � �- -.
<br /> • %"'��`�•_ convey the Property and that the Property is unencumbered, except for encumbranoes of record. Borrower warranu and will � � . �"`'��..
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<br /> ______;�iu_�_ defend ge�terally the title to the Property against all ctaims and demands,subject to any encumbrances of record. r . ;` <
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<br /> THIS SECURITY INSTRUMEN'I'combines uniform covenants for national nse and non-nniform covenants wit6[imited - ' �
<br />'`,; � '' .4. . - variations by jurisdiction to constitute a uniform security instrument covering reaf property. �
<br /> ' UN�ORM CAVENANTS.Borrower and Lender covenant and agree as follows: . .
<br /> . ` ` l. Payment oY Ptincipal aud IQterest; Prepaym�t aad Late Cbacges. Borrower shall promptly pay when dtie the � .
<br /> �..,.�-:-, .: , �
<br /> , •, � - prin c i p a l o f a n d i n t e r e s t o n t h e d e bt evidenced b y the Note and an y p r e pa y ment and late charges dae under the Note. ,
<br /> �, . 2.Funds for Taxes and Insn�ance.Subject to applicable law or to a written waiver by Lender. Borrower shall pay to� �
<br /> ° • Lender on t h e d ay mo n t h fy payments are due un der t he N o t e,u n t i t t h e N o t e i s p a i d i n f u l l.a s m n("F u n d s")f o r.(a)y e a r i y t a x e s ;.,` _ _`
<br /> ' and assessments w�hich may attain priority over this Secv�riry insorument as a lien on the Property;(b)yearly le�seS�otd paymenLS ` y�`
<br /> `� `�� or ground rems on the Property.if any:(c)Yearly hazard or property insurance premiams;(d)Yearly flood insuiaace premiums. '::�s,:�.•.,--_�,
<br /> - . if auy;(e)yeatly mortgage insurance przmiums, if any;and(�any sums payabfe by Bonower to Lender. in accordance with -. _.
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<br />`�`� `:��•��`',` ,�3�.�c the provisions af patagraph 8,in lie�of the payment of mortgage insurance premiums.These items are called"Escxow Items." .�
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<br /> _ .���;:.,,,:, � Lender may, at any time,coilect and hold Funds in an amount not to eaceed the maximum amount a lender for a federally •
<br /> _; . .� • related mongage loan may reqaire for Borrawer's escraw account under the federal Real Estate Setttement Procedures Ad of �"' : ��
<br /> 1974 as amended from time to time. 12 U.S.G Section 260! et seg. ("RFSPA").unless another law that applies to the Funds `�_ �
<br /> �":.''.:_` .'_A�_,;,�."3C... sets a lesser amount. !f so, [.ender may, at any time, coliect and hotd Funds in an amount not co exceed the lesser amount. - - _
<br /> � �. ' . Lender may estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future —
<br /> ,� Escrow Items or othenvise in accordance with applicable law. - - -
<br /> ' ' � The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity ��"°
<br /> .. �..�:., (including Lender,if Lender is such an institution)or in any�Federal Home Laan Bank.Lender shall appty the Funds to pay the __.�:
<br /> ` - `- � Escrow Items.Lender may not charge Bomo�ver for holding attd apptying the Funds,annualiy analyzing the escrow account.or � �
<br /> . _ , �: -
<br /> ,�� � . ; verifying the Escrow Items,urtless Lender pays Barrower interest on the Funds and applicable law pern�its Lender to make sash ' ---
<br /> ` �•� � a charge. Hawever.Lender may require Borrower to pay a one-time charge for an independent real estate tax reparting service � �. .____
<br />� � ;.'=fi: used by Lender in connection with this loan. unless applicable law pravides otherwise. Unless an agreement is made or ' ''�`;..�
<br /> � ' '- applicable law reyuires interest to be paid.Lender sl�all nnt be required to pay Borrower any interest or eamings on thc Funds. ` ����-
<br /> . • � . � '. �� Borrower and Lender may agree in writing, however,that interest shall be paid on the Funds. Lender shall give to Borrower. -• .'�-�,'
<br /> :.r •. • . Y without charge, an annual accounting of the Funds, showing credits and debits to the Funds and the purpose for which each ` :��
<br /> ' _ _ _ deblt to the Funds was made.The Funds are pled�ed as additio�l security for all sums secured by this Security Instrument. •
<br /> If the Funds held by Lender eaceed the smounts permitted to be held by applicable law.Lender sh�ll account to Borrower " _
<br /> � � � • for the excess Funds in accordance with the requirements of applicable law. lf the amount of the Funds held by Lender at a�ry ,- - -
<br /> �� time is not sufficient w pay the Escrow Ttems when due.Lender may so notify Boaower in writing.and.in such c�se Borrawer . ;���=°
<br /> � � - � shall pay to l.ender ihe amount necessary to make up the deficiency. Borrower shall make up the def eiency in no more than '�: '
<br /> . twelve monthly paymenu,at I.ender's sole discrepon. �
<br /> � • Upon payment in full of all sums secured by this Security Instrument, l.ender shall promptly refuttd to Borrower any . -
<br /> . ,:, � • •• Funds held by Lender. If,under parngraph 21,Lender shall acquire or sell the Property,Lender,prior to the acquisition or sale i;+.` - =-
<br /> _ • . " . of the Property,shall apply any Funds held by Lender at che time of acquisition or sale as a ecedit a�ainst the sutns secured by ��=''
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<br /> - ' � � " � this Security Instrument. t-�'��~`
<br /> '�.'' . • '• 3.ApplFrat�on of Payments.Unless appiicable law provides otherwise,all payments received by Lender under paragraphs • .. ` ' . '
<br /> . ' . 1 a,zd 2 shall be applied:first. to any prepayment charges due under the Note: second.to amounts payable under pazagraph 2: � ..' -
<br /> �� � third.to interest due;fourth.to principal due:and tas�.to any late charges due under the Note. • '
<br /> - ^ ---' 4.Char�es; Liens.Borrower shall pay all taxes, assessments,charges, fines and impositions attributabie to the Property .. - :-
<br /> `'�, � ,; • which may attain priarity over this Sccurity Instrument.and Ieasehold paymenu or ground rents. if any. Borrower shall pay � .
<br /> � �. these obligations in the manner provided in paragraph 2.or if not paid in that manner,Borrower s6a11 pay them on time directly .. . .
<br /> . � to thc person awed payment. Horrower shaA promptly fumish to Lender all noticcs of amounts to be paid under this paragraph. ' , •
<br /> - ' IB Borrower makes these payments direcUy.Borrower shall pnnmptly fumish to Lender receipts evidencing the;ayments. ' .'.. ,
<br />._ � . - - ' Borrower shall promptiy discharge any lien which has priarity over this Secarity lnstrument unless Borrower: (a)a�rees in ' � �. �
<br /> "; • � writing to ihe payment of the abligation secured by the lien in a manner acceptable to Lender.(b)contests in good faith the lien �� .
<br /> . � by, or defcnds asainst enforccmcnt of lhc lien in, legal proccedings which in thc Lender's opinion operate to prevent the ;
<br /> � enfarcement of the lien:or(c)secvres from thc haldcr of the lien an agreement satisfactory to Lender subordinating the lien to
<br /> - �� . . this Sesurity instrument. If Lender determines that any part af the Property is sub}ect ta a lien which may attain priarity cver � � • .
<br /> . ' this Security Instrumcnt. L.ender may give Borr��wer a noticc identifying thc lien. Borrowcr shall xatisfy the lien or take one or
<br /> • • more of the actions sct forth abovc within 10 days vf thc giving nf nutice. '
<br /> ' • Form 3028 9190 . _ ,
<br /> • _ � ` � oapo 4 0�s � -.
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