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<br /> TOGETHER WITH all the improvemenU noa•or hereafter erected on the property.and all easement+,appurtenances, and • - ' ` �-
<br /> fixtures now or hereaftcr a part af the property. Ali replacements and addiuons shall a!w be covercd by this Securiry • , , ° •
<br /> Instrument. All of the fo�egoing is referred to in this Security Instrument as the"Property." � , . .
<br /> ° BORROWFR COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right ta granI and � ' � ; ,
<br /> convey the Property and tha: the Properry is unencumbered, except for ertcumbrances oF record. Borrower warranU and will . • • v_
<br /> ` defend generally the title to the Property against all claims and demand�,subject to any encumbranep of recard. .. . _ �``
<br /> ` `..�
<br /> � 1'HIS SECL'RITY IIVSTRUM6NT combines uniform covenantti for national use and non-unifortn coti•enants with limited � ' , � . '
<br /> . :.G�.
<br /> _ variations tsy jurisdiction to constitute a ieniform security instrument covering real property. • . . _
<br /> �� UNIFORM COVENANTS.Borrower and L.ender covenant and agree ay follaws:
<br /> 1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall prompdy pay when due the -� �"-- _ "�-"—°�"�
<br /> � `' principal of and interest on the debt evidenced by the Note and any prepayment and late charges Jue under the Note. --_-----� -
<br /> 2. Funds Por Taxes and insvisnce. Subject tu applirable law or to a written waiver by Lender, Borrower shall pay to . - �
<br /> „ . .:.�;��=
<br /> Lender on the day monthly payments are due under the Note,until the Note is paid in full,a sum("Funds")for: (a)yearly taaes '��• -';�_.-` .:.;,. .. _
<br /> and assessments whi�h may attain priority over this Security Instrumeat as a lien on ihe Property;(b)yearly leasehold payments ���zt• •
<br /> � P Y Y' Y Y P Pe Y P Y Y P �t �---__--
<br /> or ound rents on the Pro ert ,if an ,(c) ead hazard or ro rt insurance remiums: (d) earl flood insurance remiums, �--�_�+'� —
<br /> if any: (e)yearly mortgage insurance premiums. if any:and(�any sums payable by Borrower to I.ender, in accorclance with ' _
<br /> � the mvisions of h 8, in lieu of the a ment of mo e insurance remiums.Tteese items are�lled "Escrow Items." � � � ��.:�
<br /> P P�P P Y �S P ;>;����5
<br /> Lender may, at any time, collect and hold FundS in an amount not to exceed the maximum amouat a lender for a federally __.-� -
<br /> related martgage loan may rec;uire for Borrower's escrow atcount under the federaJ Real Estate Se�1:ee_ent Procedures Act af ."""";``���;�-s
<br /> � ,���.^.;:r:�-�`
<br /> 1974 as ameaded from time t�time. 12 U.S_C. Section 2601 et seq. ("RESPA"), unless another law that applies to the Funds � "'-"q'�""`+ '
<br /> ...ti. ,:�
<br /> sets a lesser amount. If so, Lender may, at any time, collect and hold Funds in an amaant not to exceed the Iesser amount. ��__
<br /> Lender may estimate the amount of Funds due nn the basia�,f current�and reaso^:�le esrimates of expendiw.res of future .��= = v=�=
<br /> � �'��'�.�,.:,�'.�
<br /> Escrow Items or otherwise in accordance with applicable law. - �;�,t::y;,;-,�r _.
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<br /> _ The Fundc shall be held in an institution whose deposits are i�vs-+� by a federal agency, instrumentaliry, or entiry �++:; ;_--�_-_
<br /> '' (including l.ender, if I.ender is such an institution)or in any�ederal Home Loan Bank.Lender shat[�ly the Funds to pay the � - �''�' `�`
<br />. ' ��
<br /> Escrow Items. l.ender may not charge Borrower for holding and applying ttte Funds,z-�ually analyzing the escrow account,or
<br /> "''�..',+ .:��,a:'..:
<br /> verifying the Escrow I[ems,unless Lender pays Borrower interest on the Funds and aFpic•�ble law pertnits Lender to make such 5,s ;
<br /> a charge.However.I.ender may require Borrower to pay a one-time charge for an independent real estate tax reparting service - �?�� ��.,
<br /> . used by Lender in connection with this loan, unless applicable law provides othenvise. Unless an agreement is made or �. :'�,,
<br /> . applicable law requires interest to be paid. Lender shall not be required to pay Borrower any interest or eamings on the Funds. -. .-....e.r., ,`=t� '° '-
<br /> Borrower and Lender may agrez in writing, however, that interest sha11 be paid an ihe Funds. Lender shall give to BoRO�t�ec. .�. �'
<br /> . wE�la:�z^charge, an annual accounting of the Funds, sho�s.arn credits and debits to the Funds and the purpose fa�n�4::%i�^'a ":�'� = f
<br /> " d��.�_�the Funds was made.'I<:�Funds are pledged as a�.,'..�-.i�nal security for ali sums�cured by this Security In,:�:ment. ':'�-"� .
<br /> • If the Funds held by Lender eaceed the amounts permitted to be held by applicaE`.��Lw, Lender shall account to Borrower , 'Y;,';�:
<br /> ��.' rr• .�
<br /> �•� for the excess Funds in accordance with the Ta�irements of applicable law. If the ame:::t of the L-'r,n�s held by I.ender at any ...A���• ��
<br /> £ a:,._.
<br /> time is not su�tient to pay the Escrow Items wfien due.Lender may so notify Borrower:�writing,and,in such case Borrower '� 4
<br /> sh`::? a to Lender the amour.t �rces to make u the'seficienc . Borrower shali:nake u the deficien �n no more than � ' ' �j�`� -
<br />.. P Y �Y P Y P �Y � � .�.t�4:;:.
<br /> tw�lve monthly payments,at L.ender's sole discretion. -`�.�`:'''�
<br /> , Upon payment in full of all sums secumd by this Security Instrument. Lender shall promptly refund to Borrower any � <` ���?s•�.��':
<br /> Funds held by Lender.If, under paragraph 21.Lender shell acquire or sell the Property.Lender,prior to the acquisition or sale �;�;�:.z
<br /> of the Property,shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by ��
<br /> tL�i�5ecuriry Inswment. � � �. . ,
<br /> . 3.Applicatfon of Payments.Unless appficable law��;..:3es otherwise,a11 paym�r�s received by Lender under paragraphs ��`�'�� �=�-�
<br /> 1 and 2 shall be applied: first, to any prepayment charges da�under the Note;seco.^.�.2o amounu payable under paragraph Z: �
<br /> ' �,�:�� .
<br /> ;;;'� third.to interest due:fourth,to principal dc::�7d last,to any late charges due under the Note. �":�'"-
<br /> 4.Chaages; Liens. Borrower shall p2a�7i taxes.assessments, charges, fines and impositions amibutable to the Property _:y���^'�; �
<br /> which may attain prioriry over L':is Security Instrument, �.�d leasehold payments ar 7ound rents, if any. Borrower sha11 pay � � :� �'� ' `' �
<br /> �+t�':e7�=iT>K,�<. �
<br /> these obligauons in the mannes p:avided in paragraph 2,or if not paid in that manner.�orrower shall pay them on time directly -��___
<br /> �. to the person owed payment.Borrower shall promptly fumish to Lender al!notices of amounts to be paid under this para�raph. '�:
<br /> If Barrower makes these payments directly, Bnrro�ver shall promptly fumish to Lender receipts evidencing the paymenu. ______.__
<br /> Bonower shall promptly discharge any tien which has priority over this Security Instrument unless Borrower:(a)agrees in �""��r"T�-"-
<br /> � writing to the payment of the obligation secured by the lie-:�a manner acceptabte to Lender: (b)wntests in good faith the lien - ' . �
<br /> ' _`..� by, or defends a�ainst enforcement af the lien in, leg�E �roceedings which in t:�:4.�nder's opinion operate t��,�event the �.�w�,.,.��.,o-.��...
<br /> enforcement of the lien;or(c)secures from the holder of t>e lien an agreement sat:sf^:.tary to Lender subordinati:^,the lien to �'��_-��•�z-_
<br /> ;lk, this Secuity Instrument. If i.ender detemur,.es that any part of the Proyerty is subject to a lien which may attain priority over ����._��4�"t.�,
<br /> �••�:�- this Security Instrument, Lender may give�'3caower a notice identifying the lien. Borrower shall satisfy the lien or take one or �{�;�.3�•:—•
<br /> . •'�`j:pi �;�-'!'�us�•F'_ . �
<br /> , more of the actions set forth abore with3n t0 days of the�iv:.^.g of nottce. ��k�.,�� • �... .
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