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<br /> TOGETHER NITH a11 the improvemeats now or hereafter erected on the property, and all ea�ements, � �•�r��ti
<br /> ' appurtenaaces.and fistures now or hereafter a part oi ttce propercy.A11 repl�cements c3nd additions ahsll also be covered ,i::�'3
<br /> by tius Security Instrument.All of the foregoing is referred to iA this Security Inscrument as the"Property." �° ' �• ` Ma
<br /> BORRO�lER C O V E N A N T S t h at B�rrower ia ln w f u Z l y s e i s e d o f t h e e s t a t e h e r e b y c o n v z q e d a n d h a s t h e t i g h t t o . . . . J-;�`�`
<br /> ; grant and convey the Propercy and tt�t the Property is uaencumbered, eacept for encumbrances of record Horrower , , .`_ ,.•�.".:�,.-
<br /> ' warrants and will defen@ geaerally the�ide to the Property against ali cluims and desnands,subje�t to any encumbrances � ��.��
<br /> � of record : '
<br />•� . `:�:�-;���
<br /> TL�IIS SECURTTY ItJSTRUMENT combines uaiform covenanta for national use aud nonvniPorm coveitanta a ith , .��' ,
<br /> ' limite?rariations by jurisdiction to coustitute a unifonn security instrument covering sea]property. _ ;' -- _
<br /> � UIVIFORM COVENANT'S.Borrower aad 1.ender covenant and agt+ee as foilow� .� �'��
<br /> { ,.�s.,,_ .
<br /> 1.Pay�ent of Priacipal and Iaterest;Prepayment aad Lat��harges. Borrower shall promptlq pay when due - � �.-�=�
<br />'. the principa!of aad interest oa the debt evidenced by the Note aad any prepaYment and late churges due under the Note. .. �'�=•-�-��
<br /> :.a�i.3��,.
<br /> ' 2. Fnnds for Tases a�ad Insurance- Subject to applicable law or to a cvritten waiver by I.ender,Bottower shall , . ,,. . ,
<br /> � ay ta Lender on the dap monthly payments are due undet the Note,nntil the I�Iote is paid'un full,a sum("Fuads")for. , . .���'.,;:
<br /> (�a)Yea�'lY tages and a�ssmenta which may attain priority over this Security Instrument es a lien on the Property;(b) :.:._��:-�-�:'.`
<br /> _. pearly leasehold paymsnYS or grouud rents on the Property.if any; (c)yearlY ha7ard or property ins�uance premiums; _
<br /> . (d)Yearly flood insu�nce gremiums.if a�y;(e)Yearlq mortgage insurauce premiums,if suy;and(t)any sums payable =. � ,�.,�,�,,,,:,;�•:---�--
<br /> by Borrower to Lender.in accordance with the provisioas oi paragraph 8,in lieu of the payment of mortgage insuraace ? =,:.���1 �-.�_==:-.°�•�
<br /> : premiums.These items are c�11ed"Escrow Items."Lender may,at aaq time.collect and hold Funds in au amount not 'F�` �r
<br /> ,� to eac�ed the masimum amount a lender for a federaliy related mortgage loan may require for Borrower's escroW ' � ,` � :-
<br /> .�. accou�t uader th.e federal Real lEstate Settlement Procedures Act of 1974 as amended from time w time, 12 U.S.C. "
<br /> lst :•:'
<br /> � Section?b01 et seta. ("RE�PA').unless another law that applies w the Funds sets a lesser amoan�If so,Lender may, '.::,:�:�== r�
<br /> R� �.�;.;_r—
<br /> F at any time.coll��d hold Funda in an amount nat to e�ceed ths lesser amoun�Lender may e.stimate the amount of ; t --.,:.�.
<br /> ' ' Funds due on the basis of current data and reasonable estimates of eapenditures of f uture Escrow Items or otherwise in '.,� ,, ,.. �
<br /> 'f accordaace with applicabte law. �'�..__' �--�-��
<br /> _y .':'�`:'��.�. .__ .
<br /> � Ti L�e Funds shali be held in aa institution whose depasits are insured by a federal agency.instrumeatalit�,rn'entitY , ��.•,�-�=y
<br /> . •; =�� - --
<br /> (ind.z�ing I.ender,if Lender is svch an institurion)or ia any Federal Home Loan Bank.Lender shall apply th3�uads to . . __��?,y
<br /> � paq the Fscrow Itema Lender maq not charge Borrawer for�olding and applyin� the Funds, annually analYzin�the :� ' �. . ,,�;+.(,,, -�`--�.�..•
<br /> escrow account,or verifying the Escrow Items.nnless Lender pays Borrower in�rest on the Fonds and applicable law , .;.��� ,,;,_•:. ,._
<br /> �' ' perm;ts Lender to make such a charge. However, Lender may require Borrower te pay a one'time charge for aa •�r:.;. .....�. -.
<br /> ...f independent real estate tas re�ac'.�ng sen'ice used by Leu�in connection with this loan,unle:s applicable la�providea .
<br /> 4 otherwise.Unless aa agree�eut i�made or applicable���equires interest to be p�d.Lender ahall not be�vired to .
<br /> � . ',��..'—
<br /> �! PaY Borrower ang u�ess¢r�..-�ings on the Funds.BurcQ��er aad Lender may agree in writing.however,t6�interPSt . • , •..
<br /> '{, shaU l�e paid aa t3�..S7.�d9.Lender ehall give to Borrower,without charge.an siu►ual accounting of ths Funas,showing ``, ��
<br /> ;, credits aad d�bits�the Funds and the purpose for whicln each debit to the Funds was made.Ttce Funds are pledged as _ ;_;,�.,.�:; ..,
<br /> additioaal security Yor alI sams secured by ttus Secvrity E*��umen� ._�:r,.,f. ,r
<br /> If the Fnnds held by I.ender esceed the amaunffi�itted to be held bq applicxible law.I.ender ehrslP�aaunt ta -��,i=
<br /> r�. <.,;�� _.- . ,
<br /> Borrower for the eacess Funda in accordaace with tte ra�urements oi applic.yble law.If the amount of tb.:L�i�de held y��. .::.=�,:
<br /> by Lender aE any time ia aoi sufficient to pa�t'�e Esa*s��teme when due.Lender may so aotL¢_r Boiro�:�s�writiag, '` '-_ .` • ;.• -.
<br /> aad.in such case Bomower shall pay to L�s3�r the arnoant nec�ary to make up the de4iciencg..�orrower shall maka � j,
<br /> up the dePciency in no more than twelve moa�chly payments,at Lender's sole discretion. _ �,��r'��.:.
<br /> ' + Upon payment in f u l l o i a l l avms s e c u r e d b y t h i s S e c u ri t y I n s t r u m e n t,I.e n d e r e h a l l p r o m g�t�y r E f u n d t z�B o r r o v Q e r _ �:�.�,.: .,.--
<br /> any Firuds held bq Lender. If, under paragraph 21. Lc�.�er shatl soquire or sell the Property, Lender. �rt.ar to the • �;.��,,�.;.'_;':;�•—=,,_.
<br /> avquisition or sale o4 the Property,sball apply aay Funds hetd by I.ender at the ti;�e o4 ar,quisition or sale�a credit �'���•�s` , •`��
<br /> �.��,+;'.:� ` � : �
<br /> ,�`;�.,,.,......
<br /> agiu�st the sums�cured by tlue SecuritY Instrument. � +'�s,..a.
<br /> 3.Application of Pay��ate. Unles�applicable law provides atheravise.atl paymente recr�ved by I.eAder unc�r _ !f;��, �::� ..
<br /> �ragra?hs l aad 2 sLa;l he applied: firat.to ea�Y PrepaYmEnt charges due under the Note;secoad.4o amoun�s payeble - �3!c,_,
<br /> vader paragrapL 2;third�iatereat du�fourth.to priaa.ts�.1 dua;end last,w any lata charges due under t�e 1�ntr:. —
<br /> 4. Chugea; Lieas.Borrower shall pay aU teae�,��stnents.aharges,fina a�d impositions attrifr�:s to the �._ ..��.�
<br /> ptaperty which may attain priority over this Securit�L�rument,and leasehold menta or ouad ,��. if aay. �""!«=°��"'�� .--
<br /> PaY � �,�._,�:.�:. _
<br /> . Borrower sball pay these obli�tions in the manner gaa:ided in paragraph 2.or if nos paid ia�Is�:manrier.Borrower � 9--��--���---"°==,
<br /> ,� ,
<br /> shall pay them on time directly to the person owed gag�st:n�Bortower ehall promptlp farnish:3 Lender all notices of . - .:..n..�„��:�,
<br /> � amounts to bo paid under thia paragi�aph.If BomoWeT m:sf�.�these Fayments directlp.Borrower ehall promptly Yumisb. �� ==_ --
<br /> ::�;-:;-.- ,�•.- -.�"_�
<br /> to Lender receipts evidencing t�E paymenta !��,� '; ,°.� �.
<br /> Borrower eball promptl�cii:scharge any lien wluclx ls�¢priorit�over thia Security Instrument unles3 Bcrruwer. (al .: , ,,..� . •`• •.. .��. '
<br /> �. ' a�in wridag�'�a payment oi tha obligation secured by the lien in a manner acceptable to Lender;(b)cont�ts iQ
<br /> �..,_:.,_,--;--�--,-..._.,.-:—
<br /> � good isith the[iat !ry,or defends agains4 enforcement of tha lien in,legal proceedinp which in the Lender's apiniQa "��;`"'` ' _
<br /> a -
<br /> o p e r ate to p r event the enforcement of the lien;or(c)secures from the holder of the lien an ogreement satisfactory tcs ,_ � = �� '' t;_� '
<br />� Le�t�r aubordinating the lien to this Security Insttamen�.If Lender determines that any part o f t he Property ia su b l e c t ., --
<br /> to a.ti�+n which may attain riority over thia Security Ti�.��trument,Lesrder moy give Borrower a notice identifying the �'^����=• ^
<br /> p '°,_,�.�,A�.a�,,,: -
<br /> ' liea. �onower shall satisfy tha lien or t a ke oae or mare o i t he a c t ions se t 4 o rt h a b o v a w i t h i n 1 0 d a y s o f t h a g i v i n g o i �,...„-
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