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<br /> • TOGETHERWITH alt�t�e improvemeatsnaw or hereaftererectedon the property,and all easements,appurtenances,and �`'. •` ' ..,�r
<br /> • ` � � • fi�¢ures aow or hereafter a part of the property. All replacements and additions sha11 also be covered by this Securiry � , ,
<br /> � ---�--�_�< ; . InstrumenL AII of the foregoing�3 Yeferred to in titis Security Instzvmeni as the'Property." _._ -;..'. ::,:•..r
<br /> - .. � BORROVUERCOYPNANfSthat Bosoweris lawfully seised of the estatehereby comreyed aad has the rig�t to gtaat and --�_ --
<br /> ooavey the Property and that the Property is unenannbered,excepi for encumbrancesof revord.Bonower warranis aad w�71
<br /> defend generatly the title to the ProPerlY againsc atl claims and demaads.subject to any encumbrances nf record. .
<br /> � � . TEIIS SECURTf YINSTRU1Vi1:NTcombines uniform wvenanis for national use and aon-uniform covenants wit6 lim�ited . . �
<br /> _ • t- variations by jcuisdidion to constitate a umform security instrument covering real property. ' '.
<br /> BoaowerandLenderoovenautandagreeasfallows: �'i�.,
<br /> ' � ' UNIFORMCOVEN�►1!11'IS. . . •. :•
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<br /> " . . , • _ � L Feymeat oi Prindpal and InTeres$ Pr�yment and Late Cha�ea Borrower shall promptly pay when due the _ "�
<br /> : .�.�..-. .
<br /> priacipal of and interest on the debt evidenced by the Note aad any prepayment and late charges due ander the Note.
<br /> � �� 2. Fands Por Taaes and Insaraac�Subject to applicable law or to a wntten waivec by Lende�Borrawer shaU pay to =y "
<br /> ' � ��. Lenderon the day monthly paymentsare dne under the Note,unt�the Note is paid ia fnll,a sum("fi�nds'� for.(a)yearly taaes , :, •-._.
<br /> .�� .-
<br /> `. '`` and assessmentswhich may aitainpriority over this Secarity Insinimeutas s rea on the Pr erty, leasehold a ents -----
<br /> oP �)Y�IY P Ym : .�h._�.,.=�'
<br /> ' . '� ` o r grouad rents on the Pro p e r ty,i�any;(c)Yearly hardrdor propertyinsarance premiums;(�Year1Y 8oad insarancepremiums, ---
<br /> , ' - if anY+�e)Y�Y ��SE if an and(�aa3►sums PaYable by Botrowerto l.eader,in accordaucewith .�' �'
<br /> m inscuance premiums, Y ,.p,R,;,,��These items are calted"Escrow Items" ��-_
<br /> the pravisions of parag�aph8, ia lieu of the paymentof mortgageins�uancep , _ _
<br />- , . �;r-:' Leader may, at aaY�me,ooIIert aad ho2d Funds in an amo�t not to essccd the maumum amount a tender for a fiedeially :,: ...:.'.;}.=---
<br /> �-- - related mortgage loan may require for Boaawe�s escrow ar,count under the federal Real EstateSettlementProoed�uesAd of r.-:--'=,.�-;;..
<br /> � Ig74 as amendedfrom time to time,l2 US.G Sedion Z601 et seq. (°RESPA�,untess anotherlaw that applies to the Funds , �:_�.
<br /> � • sets a les�er amoua�If so, Lender may, at aay cime,co ll e c t an d ho l d F n a d s i n a n a m o u n t n o t t o e x c e e d t h e l e s s e r a m o u n� � :�:�^=-_•
<br /> _", Lender may estimate tlie amonnt of Funds due on the basis of current data and reasonableestimates of expenditares of future f� `� ,.` `;
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<br /> �.,, y Escrow Items or othera�rise ia accordance with applicable law. �,• 7r"� "�. .•
<br /> The Funds slaall 6e held'm an institutioa whose deposits are insured by a federal agency, instrumentality,or entitY . � -
<br /> .�-- _ (i a d n d i n g L e n d e r,'sf I.enderis sucb an iastitation)or in anp Federal�Ic►�eLaaa Sank.I.cndershall aPP$►the Fimds ta pa.y the — �`•�
<br /> ° Fscrow Items.l.endermay noi charge Borrowerfor ho2ding and aPPiying the Funds,annuallY ana��°8 the esc�ow accoant,or N��;
<br />`: r` • . .�� veritying the Escraw Items,uWess l.eaderpays Bonowerintcreston the Funds and applicab2e law permits Lenderto malce snch �x.'_
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<br /> � �'3 a charge.However,Lendermay reguireBoaowerto pay a oa�timscharge for an independentreal estaletax reportiag servioe , .
<br /> � " used by Lender ia connection with this loan, unless applicable taw provides otherwise. Unless aa eementis made or . : `':.'.°�'�`'=
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<br /> a ticab2elaw r uiresinteresttobe aid,Lendershall notbe seqtucedto pay Barrowerany interesLor earning,son theFuads. -��ri;'
<br />� `. Bonower and l.endcr may agree in�ting, ha�+ever,that mterest shall bs paid oa the Funds.Leader shali giv�to Bosrower, ., �'�°
<br /> - ' without charge,an annual accounting o f t he F u n d s,showiag credits and debits w the�unds aad the purpose for wLich each � �.-
<br /> � debit to the Funds was made.The Fuads are pledged as additional security fos all sums�ecured by this Security lastrument '� x•• ��.:���;;�;
<br /> � �. If the Fuads held by Lenderencced the amountspeimittedto be keld by applicable law, 1.cndershall accountto Bonower • ��°.�':�.��;-
<br /> for t6e excess Funds in ascordancewith the requirementaof appficable law. If t6e amouat of the Funds held by Leader at any . -
<br /> � � • time is not su6aent to pay the Escraa►Itemswhen due�Lendermay so notity Borroweria wridng,aad,in sach case Borrawer .r _ : :���
<br /> shall pay to I.ender the amount necessary to m a k e up t he de f eciency. Borrawer sSaU malse u p the def ciea c y ia rto more than �
<br /> �.I: , twelve monthly payments�at Leader's sote disaetion. -=�"'
<br /> ,. � ,�" Upon payment ia fuil of all sums secured by this Security lastrumeat,Leader sLall promptiy sefond to Borrawer any ;' `�
<br /> - -� Fuads heldby lxnder.I�under pazagragh2l,Lender shall acquire or sell the Property�Lender�psior to the acquisition or sale ��-
<br />.�z��� � of the Praperty,shall app1Y anY Fuads helcl bY Lender at the time of acquisition or sale as a cxedit against the sums securedby •
<br /> this Security Instrumen� . . . .
<br /> .�•. � 3.Appltcatlon o!Paymeota.UnlessappGcablelaw provides otherwise,all paymentsreceivedby Lenderuader paragraphg -
<br /> . � , � 1 and 2 st�all be applied:first,to any prepaymentcharges due uader the Note;second,to amountspayable underparagraph2•, ,
<br /> ' • third to interest due;fourtb,to prinapal due;and last,to any tate charges due undes the Note.
<br /> � q, C6arges; Ilens.Borrower shall pay a!!taxes,assessments,charges,fines and impositions attributabteto the Praperty
<br /> . w}uch may attain priority over this Security Instn�ment,aud leasehold payments or ground rents,if an}+. Borrower sLall pay ; , •-
<br /> these obligations in the mannerprovided in paragraph2, or if aot paid in thal manner,Bonowershall pay ihem on time directty ,
<br /> � to the person oa+ed payment.Borrower shall promptly fumisL to Lender all nodces of amountsto be paid under this paragrapB. . _
<br /> ����i If Borrower makes these payments diredty,Borrowcr shall promptIy furnish to Lender receipts evid..-nciag the payments. � .
<br /> � Borrawershall prompdy discharge aay lien wluch has priority over this Seciuity Instrumentualess Bonower.(a)agrees in .
<br /> wr�tmg to the payment of the obligafion secured by the liea in a manneracceptableto Leader;(b)contests in good faith the lien
<br /> � . by, or defends against eaforcement of the lien in, legal procecdings wluch in the Lender's opinion operate to prevent the • .
<br /> enforcementof the lien;or(c)secures from the holder of the lien an agreementsatisfactory to Lender subordinatingihe lien to �
<br /> � . , t6is Security lnstrument.If Lender determinesthat any pazt of the Property is subjed to a lien which may attain priorit}+over
<br /> � • � this Secarity lnstrument,Lender may @ve Bonower a uotice identifying the lien.Borrower shall satisfy the lien or take one or •
<br /> more of the actions set forth above within 10 days of tlie giving of notice. �'��� , ' :
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