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<br /> � }- v, '� � ' s TaGEIHER WITH all the improvennents now or hereafter erected on the propercy, and all easemeats, . �
<br /> . I appurtenances,and fistures now or Aeteaftet a psrt of the property:All ceplacements and additions shall also be oovere8
<br />__ .. �. { by this Security Instrument.All of tbe foregoing�s referred to in ttus S e c u rity Instrument as the"Pro p e rt y."
<br />- ' ' ;� ' BORROtVER COVENANTS that Borwwer is lawfully seised of the estute hereby oonveyed and has the right to ..
<br />" , '" - � 1 grant and convey the Propecty and that the Property ia unencurtlbered,escept for encumbrences of record. Borcower .
<br /> . - =�_` , # watrants and will defend generally the title to the Property against all claims and demands.subject to any encumbrances _ _
<br />,=r- -— _-- ' af recard. .
<br /> � T � � THIS SECURITY INS'TRUMENT combines uniform covenants for narional use and nonvniform covenants�vith s '�--''�—`
<br /> ?: • _' ' � limited variatios�s by jurisdictioa to constitutea uniform securiry instrumentcovering real propercy. � . '. .
<br /> -`f • . ` UIVIFORM COVENAN'I'S.Barmwer and Lender covenant and agree as follow� _ . .
<br /> ;;• ' � � : . � l.Payment of Principal and laterest;Prepaymeat and Late Charges. Borrower shall promptly pay when due _ .
<br /> . ' - � the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. '
<br /> `� . • •- 2.Funds for Tazes and Insuraace.Subject to applicable law os w a writtea waiver by I.euder,Borrowec shall ` �` �
<br /> `�> ' ', � ` � pay to Lender on the day mont}ily payment4 are due under the Note,until the Noie is paid ia full,a sum(°Funds")for. �
<br /> ';. I� ,. �:'':r`:;
<br /> �a)yearly tases and assessments which may attain priority over this Security Instrument as a tien on the Properry;(b)
<br /> ``; • , � yearly leasehold payments os ground rents on the Property.if any;(c}yearlp hazard or property insurance prem�ams, "�.
<br />:"�.. ,. � {d)yearty flond insurance premiums,if uny;(e)yearly mortgage insuraace premioms.if any;and(f)auy sums paqable ,; :�.;��},,;
<br /> _ _ ,. .. bq Borrower to Lender.in accordance with the ptovisions of paragraph 8,in lieu of*he nayment of mort�age ins►trance �-
<br /> premiums.These items are c�llled"Escrow Item�"Lender may,at any time,collect an�hotd F,.ads in a�a:�+ount:�t —
<br /> 1�; � . ° to eaceed the masimum amount a lender for a federallp related mortgage loan may require for Bonvwer s escrow ::x"::�
<br /> ?� � � accaunt under the federal Real Fstate Settlement Procedures Act ot 1974 as amended from time w time, 12 U.S.C. ��";
<br /> `� � .~ ' Section 2601 et , ("RFSPA").unless another law that applies to the Funds sets a lesser amoua�If so,LendEer may, � ' ;'��
<br /> . �: • :
<br />�'.� _°� � at any time,coll�and hold Fun d s in an amount not to es o e e d t he lesser amoun�L e n d e r m a y e s t i m a t e t h e a m o u n t o f _•._K:.�`{l.�,:
<br /> Funds due on the basis of cunent data and reasonable estimates of espenditures of future Fscrow Items or otherwise in �
<br /> ' '.�' i acxordance with applicabte law. � �:^---
<br /> '� � The Funds shall be held in an institution whose deposits are insured by a federal agency,instrumentality,or entity r .�.�'`
<br /> _'i • ,; •r..E � (includiAg Lender,if Lender is such an institution)or in any Federal Home Loan Bank.Len3er shall apply the Funds to = ���:';,��':�•��
<br /> 11}'�'
<br /> s� ' ' � - , pay the Escrow Items.Lender may not charge Bonower for holdiag and applying the Fuads,asuinalty analyzing the �.�_
<br /> ' escrow account,ot verifying the Esctow Items,unless Lender pays Borrower interest on the Funds and applicable law .
<br /> t�.,#�
<br /> permits Lender to make such a charge.However, Lender may require Borrower to pay a oae-time charge for an : �:;�:
<br /> � ' ' � � independent real estate tax reporting service used by Lender in wnnection with this loan,unless applicab.e law pruvides " . t�`�f�':;
<br />`';• • otherntse.Unless an agcement is made or applicable law requires interest to be paid�ndet shall not be required to . �.;3��`.
<br /> •� pay Borrower anp interest or earnings on the Funds.Bonower and Lender may agree in�vriting,however,that interest ;::�
<br /> .; ; _
<br /> • shall be paid an the Funds.Lender shall give to Aotrower,without charge,an annual accounting�of the Funds.sAowing ` : r�:'_�.'
<br /> � � credits and debits w the Funds and the purpose for which each debit to the Funds was mada.The Funds are pledged as � ' ;'r=`_
<br /> 4.`; � . additional security for all sums secured by this Secusity Instrument. � '
<br /> �.,. . Lender shall account to ����"� � :�,_Mr�.
<br /> _ , � If the Funds held by Lender egceed the amounts permitted to be held by applicable law, ;,_3.
<br /> ` Borrower for the eacess Funds in accardance with the requ�rements of applicable law.If the amount of the Runds held � �:�;_r=_
<br /> �� • • by Lender at any time is not suf�cient to pay the Escrow Items when due,Lender may so notify Borrower in writing, ' ' sw�
<br /> "� � � and.in euch case Borrower shail pay to Lender the amount necessasy to make up the de�ciencq.Bocrower shall make ' ""'�:�'�`
<br /> � -� � ' � up the deficiency in no more than twelve monthly payments,at Lender's sole discretion. • �`�-:•
<br /> � Upon payment in iull of ell sums secured by this Security Instrument,Lender shall prompsly r�efund to Borcower , ;�;�
<br /> '�, any Funds held by I.ender. If, under patagraph 21, Lender shall acquire or sell the Property, Lender. prios to tha :.,�;;'�
<br /> 1�'.',: acquisition oT sale o4 the Psoperty,shall apply any Funds held by Lender at the time of acquisition or sale as a credit , .. : ".'x`
<br /> _ ' � against the suma secured by this Se�urity]nstrumen� .. `"`�
<br /> ` 3.Applicatioa of Paymenta.Unless applicable law provides othernise,all payments re�eived by Lender under �
<br /> � paragraphs l and 2 shall be applied:first,to any prepayment charges d�e under the Note;secottd,to amounts payable -
<br /> -„4•;� � under paragraph 2;third,to intereat due;fourth,to principal due;and last.to any late charges due under the Note.
<br /> s ' 4. Charges; Liena gorrower shall pay all tases,assesssmente,chargea,fines and impositions attributable to the .
<br /> � . Property ah:ch may attain priority over this Security Instrument,and leasehold payments or ground rents,if any. .'�� .
<br /> ' •� Borrower shall pay these obligations in ttte manner provided in paragraph 2,or if not paid in that matuter, Borrower � .
<br /> � � shall pay them on time directly to the petson owed payment.Borrower shall promptly furnish to Lender all notices of • '
<br /> �• ' ' amounts ta�be paid under this paragraph.If BorroRer makes these paymenis directly.Borrowet shall promptly farnish �
<br /> � _ to Lender:�ipts evidencing the paymente. .
<br /> ^ ' � ;.` � i Borro�rs shall promptly discharge any lien which has prio:ity over thia Security Instrtsment unless BorroNer: (a) -
<br /> � ' `' j agrees in writing to the payment o4 the obligation secured by t,:e lien in a manner acceptable to Lendet; (b)contests in •. � :
<br /> . . � i. good faith the lien by.or defends a�inst enforcement of the liet�in,legal ptoceedinga which in the Lender's opinion
<br /> � �� . . � opetate to prevent the enforcement o4 the lien;or(c)secures from tha holder of the lien an agteement satisfactory to
<br /> ' Lender subordinating the lien to this Security Instrument.If Lender detersnir.�that any part of the Property is sub�ect
<br /> ' : � � to a lietf which may attain priority over this Security Instrursie�t,Lender may give Borrower a notice identifying Ehe
<br /> , lien. Borroaer shall satisfy the lien or take one or more of tre actions set forth above�ithin 10 days of the giving of
<br /> . notice. '
<br /> � Form 301 9/ 0 ; .
<br /> �-S�{,;��92/4A01 Pa9�2 of E Init101a ,.
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