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<br /> TOGE'ft1ER W17't1 a11 the improvements no�v or hereafter erected on the properry.and all easements,appurtenances.and `: " '
<br /> ' � fiatures now or hereafter a part of the property Ail reP�acements and additions shall also be covered by this Securiry _:<<<r'.: ,
<br /> ' Instrument.All of the foregoing is referred to in this Security Instnunent as the"Property." .� �.�•, - . '
<br /> ---� BORROWER COVENANTS that Borrower is lawfully seised of the estate h°..reby conveyed and has the right to grant and __ _ <�.,-,- 4.
<br /> � �- . rnnvey the Property and that the Praperty is unencumbered.except fnr encumbranc�of record. Borrower warrants and will - .
<br /> ` defend generaUy the tide tn the Propeny against a11 claitns and demands,subject to any encumbrances of record. :
<br /> �� • ' THIS SECURITY INSTRUMENT combines uniform rnvenants for national use and non-unifonn covenants with limited �` �..�
<br /> �< < . ` variations by jurisdiction to constitute a uniform security inswment covering real property. �
<br /> � UNIFORM COVENAN7'S.Borrower and I.ender��a ���°Borrower shall promptty pay when due the � - � • •`�
<br /> . 1. Payment of Principal and Interes�; PreP Ym ; �:=';j�
<br /> rc
<br /> principai of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. � _
<br /> 2.Fands for Tases and Insusance.Subject to applicabie law or to a written waiver by Lender, Borrower shall pay ta
<br />- Lender on the day monthly payments are due under the 1Vote,until the Note is paid in full,a sum("Funds")for: (a)yearly taxes ,
<br /> and assessments which may attain priority over this Security InsUvment as a lien on the Property:(b)year�Y leasehold payments ,,,a. :,
<br /> � or groand reats on the Property.if any:(c)yearly ha7ard or property insurance psemiums:(d)Year�Y tload insurance premiums, . �
<br /> ' if any;(e)yearly mongage insurance premiums. if anY:and(fl any sums payable by Borrower to Lender,in accordance with —
<br /> ' the provisions of paragraph 8,in lieu of the payment of mortgage insurance premiwns•'These items are ca!led"Fscrow Items." __ __:�___._
<br /> Lender may. ac any time. collect and hold Funds in ssn amount not to exceed the maximum amount a lender for a federally ' �s,-
<br /> - � related mortgage laan may req'�e for Borrower's escrow account under the federal Real Estate Senlement Pracedures Act of .n �—
<br /> . c' L:
<br /> 1974 as amended from time to time. 12 U.S.C. Section 2601 et seq. ("t2FSPA").unless another law that applies to the Funds _�:'��:� ;, .��•�^;
<br /> seis a lesser amount. If so, i.ender may. at any time, collect and hold Funds in an amount not to exceed the lesser amount. . : ��;;��•F=•
<br />. � L,ender may estimate the amount of Funds due on the basis of carrent data and reaconable estimates of expenditures of fuwre .';;t�{f,tiry
<br /> �a.,=. Escrow Items ar otherwise in accordance with applicabte law. . ;�,� ��=-
<br />-� The Funds shall be held in an instiwtion whose deposiu are insured by a federal agency, inurumentality. or enrity �,.; _.. � - .�:
<br /> . � ��•�±
<br /> , . (including l.ender,if Lender is such an institution)or in any Federal Home Loan Bank.l.ender shall apply the Funds to pay the _ �T�',�:�;.
<br /> � � Escrow Items. L.ender may not charge Borrower for holding and applying the Funds.annually analYzing the escrow account.or �,a�'`
<br /> , �_�,_`
<br /> , ., � verifying the Escrow Items,unless Lender pays Borrower interest on the Funds and applicable law pemuts Lender to make such •��_��,.,
<br /> � . a charge. However, Lender may reyuire Borrower to pay a one-time charge for an independent rea!estate tax reporting service •; i=;�'--
<br /> t .' .. }k:�:_-'-°.
<br /> used by Lender in connection with this loan, unless applicable law provides atherwise. Unless an agreement is made or
<br /> � applicable law requires interest to be paid.Lender shall not be requireci to pay Borrawer any interest or eamings on the Funds. . :.�,;,-���^
<br /> � • ' ' Borrower and i.ender may a�ee in writing, however,that interest sh411 be paid on the Funds. Lender shall give to Borrower, ' - ;:� �..���-':
<br /> •• ��II} without charge, an annual accaunting of the Funds, showing credits and debits w the Funds and the purpose fur which each .. �',��:�"
<br /> _� . �-? debit to thc Funds was made.The Funds are pledged as additional security for all sums secured by this Security Instrument. ;�ati:-
<br /> .. ... . . ._
<br /> .;� •
<br /> i If the Funds hetd by Lender exceed the amounts permitted to be held by applicable law. I.ender shall account to Borrower =��=
<br /> ' � " for the excess Funds in acwrdance with the requirements of applicable law. If the amount of ihe Funds held by Lender at any '�=-,.'
<br /> -� .�-
<br /> ` � time is not sufficient to pay[he Escrow Items when due.Lender may so notify Borrower in writing,and, in such case Borrower : '•�:-°_:,
<br /> . � ,_�__
<br /> '� ' �• ' , shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than .,,��..
<br /> . twelve montUly payments,at Lender's sole discretion. .. � �;�,�
<br /> � • Upon payment in full af all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any f��
<br /> '��;� . . Funds held by Lender.IF,under paragraph 21.Lender shall acquire or sell the Property.l.ender,prior to the acquisition or sale , . ��-,
<br /> ,. , of the Property,shall apply any Funds held by Lender at the time af acquisition or sale as a credit against the sums secured by , ., _
<br /> _ � this Sccurity Instrument. � ���-
<br /> � � � • 3.Applicatton oP Payments.Unless applicable law provides athcrwise,all payments received by�l.ender under paragraphs . . �.�:.:�
<br /> . 1 and 2 shall he applied: first.to any prepayment charges due under the Nute: second,to amaunts payable under paragraph 2: �
<br /> � • third,to interest due:fourth,to principal due:and last,to any late charges due under the Note. � � .
<br /> � 4.Char�es;Llens. Borrower shall pay all taxes, assessment�, charges, fine.r and impasitions attributable to the Property � •
<br /> � which may attain priority over this Security lnstrument, and le�asehold payments or ground rents, if any. Borrower shall pay .
<br /> • ' the�e obligaticros in the manner provided in paragraph 2,or if not paid in that manner.Borrower shall pay them on time directty , , ,
<br /> � to the person owed payment. Borrower shall promptly furnish to[.ender all notices of amaunts to be paid under ihis Paragraph. • .
<br /> . � , � lf Borrower make.r these pay�mentr directly.Bottower shall promptly fumitih ta Lender receipts evidencing the payments. , . .
<br /> &�rrower tihall promptly dischurge any lien which has priority over lhis Security Instrument unle+�Bonawer:(a)agrees in
<br /> writing to the payment oP the obligation�ecured by the lien in a manner aceeptable to Lender.(b)contests in good faith the lien , .
<br /> �• , � by, or defends again�t cnforcement of the lien in. Iegal proceeclings which in the l.ender'ti opinian uperate to prevent the :
<br /> enforeemem��f the lien:or(c►+ecureti from the holder of the lien un agreement satisfactory to Lender wbordinating the lien to . .
<br /> � thi�Security In,trumcnt. 1f l.ender determine�that any part i�f the Prupeny i.aubject to a lien wfiich may attain priority over •
<br /> ; this Sccuriry 1mlrwnent. Lender may givc H��rrower a notice idcntifying the lien. Borrower�hall tialitify the lien or take one or _
<br /> . . � mvre vf'the sctions set forih above within �0 days of the giving ui'natice. .
<br /> • Form 3028 9190 •
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