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<br /> . TOGETHER WITH a11 the improvemeau now or hereafter erected on the property.attci a11 easemenu.appurtenances.and , t. `
<br /> � . '.�c',, fixuues now or hetr�after a part of the property. AU replacements and additions shall also be covered by this Secwity �
<br /> ,, �. • �'� Instniment.All of tl�e foregoing is nefemd to in this Secuiiry Inswment as the°PtoPenY•" ' ..
<br /> ` ", BORROWER COVENANTS that Borrower is lawfully seised uf the estate hereby conveyed and has the right to grant and - -
<br /> . _ � . . - convey the Property and that t1�e ProPertY is unencumbered.except for enrumbranoes of record. Borrower warranu and wi0 .�_�' �_`•;;;"4_`•
<br /> ' defend general►y the title to the Property against a11 c�aims and demands,su6}ect to any encumbrances of record. °-` �.":,. •�'
<br /> ' ' • THIS SECURI'fY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited . �
<br /> t: �
<br /> ': variations by jurisdiction to constiwte a uniform security instrument covering real property. � .� . ;_ ;.;
<br /> � UNIFORM COVENANTS.Bor[ower and Lender covenant an[!agree as foitows: � . , ' .:
<br /> ` - 1. Fayment of lMndpal and Iuteresh Prepayment aad Late Charges. Borrower shall prompdy pay when due the •.� �, �'' R ;
<br /> , � .��:��.` principal of and interest on the debt evidenced by the NIote and any prepayment and late charges due under the Note.
<br /> --`=�-,-°--==- 2. Funds for Taxes and Im�tuaurc.Sub}ect to aPPlic�ble 1aw+�r to a written waiver by Lender. Borrower shall pay to _ _____k`
<br /> r � .- • - Lender on the day manthly payments are due under the Note.until the Note is paid in full,a sum("Funds")for.(a)yearly taxes :Y _°`r. i
<br /> ' '` and assessmenu which may attain prioriry over this Security Instrament as a lien an the Property:(b)yearly leasehold paymenu 4`°'
<br /> `' ��� =' t�oad insurance rem9nsns, ;� .
<br /> �. . - or gound rents an the Property.if any:(c)yearly hazard or property insurance premiums;(d)yeaily p , . �
<br /> ��- � if any;(e)yearly mortgage insurance premiumc. if any: and(�anY sums payable by Borrower to Lender, in acoordance wit1� c� ;
<br />� l` � � � , the provisions of paragraph S.in lieu of the payment of mortgage insurance premiwns.These items are called"Escrow Items." • _
<br />- Lender may, at any ume, collect and hoid Funds in an amaunt not to eze.eed the maaimum amount a lender for a federaUy ,
<br /> � `• ' " ~ related mortgage loan may require for Borrower's escrow accounc under the federal Real Estate Setttement Procedures Aet of '
<br /> . � �,.a...
<br /> � . 1974 as ametuled from time to time. 12 U.S.C.Section 2601 et sey. ("RESPA").unless another law that applies to the Funds . •T'�:�.,��-
<br /> , sets a lesser amount. If so. Lender nray, at any time. collect and hold Funds in an amount nat to exceeA the lesser amount. ` `<�-��.;
<br />,�• '.. � I,ender may estimate the amount of Funds due on the basis of current data and reasonable estimates of expendiwres of fut�ae
<br /> . Fscrow Iterru or otherwise in accordance with applicable law. . _�_,
<br /> � The Funds sfiait be held in an institution whose deposiu are insured by a federal agency, instrumentality. or enriry � �.,__
<br /> ' _•;:..�.'., .a..:
<br />" � � (inctuding L.ender,if l.ender is such an institutian)or in any Federal Home Loan Baak.Lender shall apgly the Funds to pay the •:,.�.
<br /> � ' Fscrow Iten�s. Lender ma not c e Borrower for hotdin and a 1 in the Funds.annuall anal un the escrow account,or ' '-`�
<br /> `.. Y �S � PPY g Y Y S �
<br />�- � ' k - verifyin�the Fscrow Items,unless I.ender pays Borrower interest on the Funds and applicable law pemuts Lender to make suc6 . �
<br /> ��-
<br /> . � , a charge. However, l.ender may require Borrower to pay a one-time charge for an independent real estate tax reporting service �i—
<br /> , ' ��'+:� used by Lender in connection with this loan, unless a licable law rovides othenvise. Uniess an a ment is made or �='--
<br /> PP P g� �'=�-��;<"y:-�;
<br /> � applicable law reyuires interest to be paid.Lender shall not be required to pay Borrower any interest or eacRings an the Funds. ;'..���'+:-
<br /> : ��;_. :
<br /> " • "`, ",' Borrower and Lender may agree in writing. however.that interest shall be paid on the Funds. L.ender shall give to Borrower. �,:�� � ='
<br /> � - without charge.an annual accounting of the Funds, showing credits and debits ta the Funds and the purpose for which each •=��=
<br /> • -. debit to the Funds was made.7'he Funds are pledged as additional sec.urity for all sums secured by this Securiry Instrument. r ��-
<br /> '.. . . , If the Funds held by Lender exceed the amounts permitted to be held by applicable Iaw,I.ender shall account to Borrower ' ��;,
<br /> . . ` ` for the excess Funds in accordance with the requirements of applicable law. If the amount of the Funds held by Leader at any �;.�;���,-
<br /> , . � �.� time is nat sufficient to pay the Escrow Items when due.Lender may so notify Horrower in writing,and,in sach case Borrower . : -,��.
<br /> �!. ' .. � shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make u the deficien in no more than ""`•"�
<br /> P c5' ' .,• �. `;��,
<br />_ t ' _ twelve monthly payments,at Lender's sole discretion. i+',� ,` �-'��
<br /> %:=',,` Upan payment in fuit of all sums secund by this Security Instrument. Lender shalt prompdy refund c� Borrower any t:°`.��'.�-:"�;��.-
<br /> "=.. � .---��• Funds held by Lender.if,under paragraph 21.Lender shall acquire or sell the Property.Lender,prior to the acquisition ot sale �Yx `. �--_
<br /> � ;; ��.�..
<br /> � • '�.�;�� of the Property.shalt apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by '`�__�
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<br /> � .: � this Securiry Instrument. . •�
<br /> . 3.Appllqtton of Payments.Unless applicable law provides othenvise,all payments received by Lender under paragraphs ~',�"
<br /> � . �� � '�'' 1 and 2 shall be applied: first,to any prepayment charges due under the Note: second,to amounts payable under paragraph 2; =�
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