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<br /> . TQGETHER WITH a!1 the improvements now or hereafter erected on the pro y,and al easements,appurteQanc�,and <, �
<br /> � fiatures no�v or hereaRer a part of the pmperty. Ail replaQements and uaditions s6all :ilso br covered by this Security ,
<br /> Inswment.A!1 of the foregoing is referred to in this Secusiry Insuument as the"Prapeny." :;�.,
<br /> BORROWER COVENANTS that Borroa•er is lawtnlly seised of the estate hcreby coaveyed a�id has We r'sght to grant and
<br />' , coneey the Pro�erty and that the Property is unencumbered. eacept for ennembrances of ra�urd. Burrotiver waaants and �vi19
<br /> defend generally the dtle to the 1'ruperty against all claicns and demands,subject w any encumbrane�s of record. _::-
<br /> THIS SECURITY INSTRUMENT combines uniform covenanu for na�ional use artd non-uniform rnvenanu�vith IimiteA '��: `
<br /> ., variatians by jurisdictian to rnnstimte a unifortn security instrument rovering real pa'operty• �
<br /> UNIFORM COVENAN7'S.Bomo�r•er and l.eader covenant and agree as follows: ;_ .
<br /> --�. 1. Pt�yme�t of �incipal an�1 Inxerest; PcePnlRnent and I.ate Cha�es. Borrower shall promptly pay when d�e the _� �":�,
<br /> .. , principai of and iaterest on the debt evidenced by the Note and any prepayment and late charges due under the Note. Y „
<br /> 2.Funds Por Taxes and Iasurance. Subject to applicable law or to a written waiver by Leadec. Borro�ver shall pay to � Y
<br /> . sum "Funds')for:(a) early taxes '"�'-�=•
<br /> - L,ender on the day monthly paymenu are due under tAe Note,until the Note is paid�n full. a ( Y �._
<br /> and assessments which may attain priority a�er this Securiry insvument as a lien on the Property:(b)yearty leasehold payments �.�_
<br /> - or ground rents on the Proper[y.if any:(c>Year[Y hazard or praperty insurunce premiums: ldl yearly flood in»urance premiucns. _-
<br /> if any:(e)yearly mortgage insurance premiums. if any: and(�any sums payable by Borrower to Lender, in a000rdan:e with �_
<br />. ttte provisions of paragra�h 8, in lieu of the paycnent of mortgage insuran�premiums•'I'C�ae items ar+e called"Fscro�v Items•" �
<br /> L.eader may, at smy time. cultect and hatd Funds in an amount not to exceed tke maximum amount a tender for a federally �
<br /> ����_�<�.
<br /> - reEated mortgage loan may require for Borrower's escrow account under the federal Real Fstate Senlement Prooe�ures Act of __
<br /> !� 1974 as amendsd from time to time, 12 U.S.C.Section 2601 et seq. (°RESPA"), unless another law that applies to the Funds ___.
<br /> seu a less�r amaunt_ If so, Lender may. at any cime. collecc and hald Funds in an amount not to excee�the lesser amount_ --
<br /> �.�t� Lender may estimaie�1e amount of Funds due on the basis of current data and reasonafsle estimates of e�cpendimres of future �,
<br />. • Escrow Items or otherwise in accordance with applicable law. �_
<br /> The Funds shall be held in aa institurion whose deposits are insured by a federal agency, insuumentality, or endry
<br /> -.:. 'ff ��"
<br /> (including Lender,if Lender is such an institukon)or in any Federal Home Loan Bank.I.ender shail apply the Funds to pay the �L
<br />:;w�,�'' Escrow Items. Lender may not charg��orrower for holding and applying the Funds,annually analyzing the escrow account,or ��_
<br /> verifying the Escrow Items.unless l.ender pays Borrower interest on the Funds and applicable law permits Lender to matc�such �__-
<br /> a charge. However, i.ender may require Borroiver to pay a one-time charge for an independent real esiate tax reportiAg service �_.:
<br /> • used by Lender in connection with this loan, ualess applicable lavv provides othenvise. Unless an agreement is made or �
<br />. � �" applicable law requires interest to he paid.Lender shall not be required to pay Boaower any interest or eamings on the Funds. �• ••
<br /> ' Borrowe.:.ccd I.ender may agree in�vriting,however.that interest shall be paid on the�unds. Lender shal!give to Borrower.
<br /> . without charge, an�nual accounting of the Funds, showing credits and del��,s to the Funds and the purpose fos which�ch �:
<br /> . debit to the Funds waa made.The Funds are pledged as actditional security fa_a?i aums secured by this Security Instrument. �.
<br /> ' If the Fnnds hei�by Lender exceed the arreo'.r�L�permitted to be held by applirable law. Lender shall accouat to Borrower �_
<br /> for the excess Funds in accordance with the rrquir:ments of applicable law. If the aruou^t of the Funds held by Lender at any
<br />�?='�:r ' time is r.Qi su�cient to pay the Escrow[U:ms�vF.en due, Lender may so notify Borrower i�,u?dtin�,and.in such case Borrower --__
<br />• ' �� shall Fay t�a Lender r•t�e amount necassary to rr.aP.e u}�the deficiency. Borrower shall ma1:.u�the de�iciency in no more than
<br /> twelve�.enthly payments,at Lender's sote discre�:w
<br /> U�en payment in full of all sums secvred by this Security Instrument. Lender shall pmmptly r:a'`r:'+-d to Borro�ver any �'.._r
<br /> . Funds i*�:3s�by Ixnder.If,under paragraph 21.Lender shall acc{uire or sell the Pcoperty, Lender,prior m�.�e acquisidon or sate
<br /> . of the FtnTerty,shall apply any Funds held by Lender at the ti�sc of acquisition or sale as a credit against the sums secured by ---•-
<br /> � ' this Sec�.–;tyr Instrument.
<br /> 3.Applfcatioa ot Payments.Unless applicable law provides otherwise,alE payments received by I��c►3�r under paragraphs _
<br /> 1 and 2 shall be applied: first.to any prepayment charges due under the Note:second, to a�nounts payable under paragraph 2; _.
<br /> � third.to interest due;fourth.to principal due:and la�t,to any late charges due under the Note. ��_
<br /> -- ` q.�ltarges;Lgeos.Bonower shall pay all taxes, assessments,charges. fines and is�g�sidons attributabte to the Property
<br /> ' which,.:�•�n_r attain priority over this Security Instrument.and leasehotd paymerits or gro�a) rents.if any. Eorrower shall pay F�_---
<br /> ,. ' these a�f��ations irt the manner provided in para�raph 2.or if noi paid in that manner.Bonower shall��them on time ditet;ily --
<br /> � to the��rsun owed r,s�.,�'nent.Bonower shall pror*t�tly fumish to Lender all notices of amounts to be p�3 under this paragraph.
<br /> •.; , If$om:ruer makes these payments directly.Borroc�er shall promptly fumish to Lender receipts evidencing the�ayments. �
<br /> • � . �;;,�,:ower shall promptly discharge any lien which has prinr'ry over this Security Instrumen!unless Bonower.(a)agrees in �..
<br /> writi�r���ry the payment of the obligation secured by the lien is��:anner acceptable to Lende.r;�b)contesu in gaod faith the lien
<br /> by. ::. uefends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the �„�:
<br /> • � enfercement of the lien:or(c)secures from the holder of the lien an ageement satisfactory to Lender subordinating the lien to `_,,_
<br /> • this��.:rity Instrument. If Lender determines that any part of the Propercy is subject to a lien which may attain priarity over �
<br /> this�C�aa'iry Instrument. Lender may gjve Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or -
<br /> more U:the actions set forth above witliin]0 days of the giving of notice. —�
<br /> Fortn 3028 9196
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