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<br /> . . , TOGETHER WITH a1t t1►e improvements now or hereaRer erected on the property.and all easements.appurtenances.and ,.', . , ::,
<br /> fixtures now ar hereafter a part of the property• pU� mPlaoeme°ts and additions ahall also be coveted by this Security °�_' �
<br /> � � Insnvmeat.Ail of the foregoiag is referred to in this Security Insuument as the"Property... � , . --- _
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<br /> BORROWER COVENANTS thai Borrower is lawfulty seised of the estate hereby conveyed and has the right tu grant and �� ,
<br /> ' , ,y .' convey the Property and that the Property is unencumbered. except for encumbrar►ce�of record. Borrower warrants and �vi{I � ,��,; :. �`
<br /> . • defend generaily the tide ta the Propeccy against a!1 claims and demands.subject ta any encumbrances of rernrd. _ . .
<br /> ` � TEIIS SECLTRI7'Y INSTKIJMENT combines uniform cavenants for natianal use and non-uniform rnvenasits with Gmiced
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<br /> � • ' variadons by jurisdicuon to wnstitute a uniform security instrument mvering reaf property. _ �
<br /> �.' � '� IIMFORM COVENANTS. Sorro�rer and I.ender cevenant and agree as follows: � �
<br /> - � �' 1. Payment of Prindpal and Intenst; Prspayment and Late Ctiarges. Borrower shall promptly pay when due the .
<br /> _ .. . ,.��"� — - -� ... __
<br />_ � __.�.� principal of and interes[on the debt evidenced by the Note and any prepayment and late charges due under the PIote. _ ,. . `_'..� ,
<br /> 2.Funds for Taxes and Insurance.Subjecc to applirabte law or to a written waivcr by [xnder. Borrower shal! pay to _ ` �-,,.
<br /> ' � Lender on the day monthly payments are due under the PIote,undl the Note is paid in tull,a sum("Funds"i fcr: (a)y e a r ly t a xes .: �••��., . ,
<br /> . and assessments which may attain priority over this 5ecurity Instniment as a lien on the Property:(b)yearly leasehold payments �;k,,.
<br /> � � , or gronnd rerits on ihe Propercy.if any:(c)Year1Y 1�ard or property insurance premiums:(d)YearlY tlood insurance premiums. ,,_
<br /> -- .. � � • ``��s: if any:(e)yearly mortgage insurance premiums•�f anY:and(�any sums payable by Borrower to Lender. in aocordance with ;;-f., , , .
<br /> the pmvisions of paragraph 8.in lieu of the payment of mortgage insurance premiums.'I'hese items are called"Escrow[tems." :.r •' : _„Y.
<br /> � ,•. J� '` [.e�ier may,at any time, coltect and hold Funds in an amount not to exceed the maaimum amount a tender for a fedetally ..�`,�:,d,�
<br /> `4 � ``�� related mortgage loan may requirr for Borrower's escrow account under the federal Real Esiate Settlement Pracodures Act of .,
<br /> - n;, 1974 as amended from time to time, 12 U.S.C.Section 2601 et seq. ("RESPA"),unless another law that applies to the Funds �;f;:
<br /> sets a lesser arnount. If so. Lender may, at any time, collect and hold Funds in an amount nat to exceed the lesser amoum. ,�..
<br /> ` � Lender may estimate the amount of Funds due on the basis of current data and rea�a�ble estimates of eapenditures of future '.'_
<br /> Fscrow Items ar otherwise in accordance with applicahle law. a„
<br /> The Fands shall be hetd in an institutioa whose deposits are insured by a federal agency. instmmentality. or entity �.4 ,.-��.
<br /> � � .�•� (including I.ender,if Lender is such an instirution)or in any Federal Home Loan Bank.Lender shall apply the Funds to pay the ;r;,_.
<br />� .... . - . ', "r•.�Y'c Escraw Items_[,ender may not charge Borrower for holding and applying the Funds.annually analyzing the esrrow account.or .:`�r;-=- -
<br /> ' verifying the Escrow Items,unless Lender pays Borrower interest on the Funds and applicable law permits[.ender to make sue8 , :��..�n;�;
<br /> •" :�<�'!!�-
<br /> a charge. Howe�er.l.ender may require Borrower to pay a ane-time charge for an independent real estate tax reporting service s_
<br /> '. '�--,:_
<br /> .. used by I.ender in cannection with this loan. unless applicable law provides othenvise. Unless an agreemeat is made or „ �, -
<br /> �' v' applicahle law requires interest to be paid.L.ender shall not be required to pay Borrower any interest or eamings on the Funds. , •�
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<br /> � -- Borrower and Lender may agree in writing, however,that interest shall be paid on the Funds. Lender shail give to Borrower.
<br /> ' . without charge. an annual accounting of the Funds. showing credits and debits to the Funds and the purpose for which each �
<br />- - - • debit to the Funds was made.The Funcls are ple�ged as additional security for all sum5 secured by this Security Instrument. .�_
<br />- �� ' . If the Funds hetd by Lender exceed the amounts perrnitted to be held by appticable law.Lender shall account to Borrower �;;M�,�.
<br />" " for the excess Funds in accordance with the requirements of applirabte law. If the amount af the Punds held by Lender at any �- .;fj�.
<br /> - • ' ' " pme is not sufficient to pay the Escrow Items when due.Lender may so notify Borrower in writing.and,in such case Bosower . . ;,;�„.
<br /> ,, � shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than . .. •�.r-
<br /> - - -- - - iweive monthly payments,at Lender's sole discretion. _""'.
<br /> � Upon paymenc in full of all sums secured by this Security Instrument: I.ender shall promptly refand to Borrawer arsy . ti .r
<br /> ��� Funds held by Lender.If,under paragraph 21,Lender shall acquire or sell the Property.i.ender,prior to the acquisition or sale ; �
<br /> � of the Property. shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the swns secured by •+;, -�
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<br /> __ —_-- _ �_-— this Security Insbvment. - - -- -: .
<br /> '� � ' 3.Apptication of Payments.Unless applicable!aw provides otherwise.ull payments received by Lender under parap�aphs ;' �..`F•�
<br /> :.'•'i �� I and 2 shall be applied: first. to any prepayment charges due under the Note: second.to amounts payable under paragraph 2: ;:,' .� •�.
<br /> � � chird,to interest due:fourth.to principal due;and last,to ar�y late chazges due under the Note. • .. � '�"�_
<br />_;:.; . .. . 4.Chatges;Liens.Borrower shall pay all taxes.assessments,charges, fines and impositions attributable to the Property • __
<br /> � ' which may attain priority aver this Security Instrument, and leasehoid payments or ground renu. if any. Bonower shall pay .�'_ � �
<br /> = ' � these obligations in the n�anner provided in paragraph 2,or if not paid in that manner.Borrower shall pay them on time directiy . .��
<br /> . �. -� . to the person o�ved payment.Borrower shali promptly furnish to I.ender all notices of amounts to be paid under this paragraph. ;�::�. •.
<br /> � ' If Borrower makes these paymenu directly.Bonower shall prompdy fumish to Lender receipts evidencing the paymenu. ':
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<br /> ' Horrower shall promptly discharge any lien which has priority over this Security instrument unless Bonawer:(a)agrees in •
<br /> � � writing to the payment of the obligation secured by thc lien in a manncr accepsable to Lender:(b)contests in good faith the lien
<br /> • �� . ;;•' by. or defends against enforcement of the lien in. legal proceedings which in the Lender's opinion operate to prevent the .
<br /> • � � enforcement of the lien;or(c)secures from the hofder of the lien an agreement satisfactory to�..ender subordinatin�the lien to . •
<br /> this Security Instrument. lf Lender determines that any part of the Property is subject to a lien which may attain priority over � . .
<br /> . • this Security Instrument.I..ender may give Borrawer a notice idcntifying the licn. Borrower shall satisfy thc lien or take ane or .
<br /> more af the actions set forth above within 10 days of the giving of notice. :
<br /> • �r• form 3028 9F°U •
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