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<br /> TO(3ETHER WITH all thc improvemcnis now a hcrcaftcr crected on thc property,and all casemcnts,appurtenanccs,and -
<br /> ' fixtutas now on c�rcaftcr a part of thc property. AU rcplacements and additions sh�ll also be covcrcd by this Sccurity InstrumcnG � —
<br /> i Alt of thc forcgoing is rcfcacd to in this Security Insrnw�ent as the"Property:'
<br /> � BORROV1�Fi COVENAMfS that Borrower is la�Fully seiS�cl of ihe estate hereby conveyed and has the right w grant and ,
<br /> convey the Praperty and ihat the �'roperty is unencumbered. except for encumbrances of record. Borrower warrants and wiU
<br /> . � defend generally the title to the Property against all claims and demands,subject to any encumbrances of record. .
<br /> THIS SECURITY WSTRUMEN'Y'combines us�i�rrn covenants for nadonal ust:and non-uniform covenants with limited
<br /> variadons by jurisdiction to consqwte a uniform securiry instrument covering real property. �
<br /> UNIFORM COVENANTS.Boaowcr and Lcnd�rcovenant nnd agrec as follows: � . _
<br /> 1.Payment of Principul and Interest;Prepaymmt and Lwte Charges. Borrower shall prompQy pay whcn duc thc ; _
<br /> principal of and intcrest on the dcbt evidenced by U►e Note and any prepayment and late chnrgcs duc under the Notc. i ;.,:_sl
<br /> 2.Funds tor TAxes and Insurance. Subjat to applicable law or to a writben waiver by Lenda, Borrower shall pay to • ' �''y'
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<br /> L,cndcr on the day monthly payments are due under thc Notc,until thc Note is paid in full, a sum("Funds")for:(a)ycarly taxcs ;,���,,
<br /> and assessments which may auain priority over�his Securiry Instrument as a lien on the Property;(b) yearly leasehold paymenu :;,., e___.
<br /> or ground rents on the Property,if any;(c) ycarly ha�rd or property insurance premiums;(d)yearly flood insurance premiums,if ""''.." --
<br /> any;(c)yearly mort�age insurance premiums. if any;end(� any sums payable by Bonowcr to I.endcr, in accordancc with!he • `
<br /> provisions of paragraph 8, in Geu of the payment of rnortgage u�sutance premiums. 'Ihcse items are called "�scrow Items."
<br /> Lender may,ai any cime,coUcxt and hold Funds in an amouni not to exceeci ihe maximum amount a lender for a federally related -
<br /> I morigage toan may require for Borrowcr's esc:row aaount under the federal Real Bstate Scttlement Procedures Act of 197�1 as _ .
<br /> 1 amended from time to timc,12 U.S.C.Section 2b01 nseq. ("RFSPA"),unless anuther law that applies to the Funds sets a lesser
<br /> ,� Funaun� If so, Lender may, at any tirne, collect and hold Funds in an amount not to exceeci the lesser amounG Lender may ,
<br /> � estimaus the amoant of Funds due on the basis of curnnt data and reasonable estimates af expenditures of future Escrow Items ar
<br /> otherwise in accordence with applicable law.
<br /> �• The Funds shall be held in an institution whose dt�posits are insured by u feclerai agency,instrumr,nlality,or entity(including '—�
<br /> L.ender,if Lender is such an insdtudon) or in any Fcderal Home Loan Bank. Lender shaU apply ihe Funds to pay the Escrow .1�it
<br /> Items.Lender may not chsuge Boaower for holding aAd applyin�the Funds,annually analyzing the escrow account,or verifying �� r,�.
<br /> �, the Escrow Items,unless L.ender pays Barrower inLe�st on the Funds and applicable law permiu Lender to make such a chargc. r, � ;z_:
<br /> However,Lender may requuc Borrvwc� t+;p�y a or�-timc chargc for an usde�ndens stsl essste ta.�rep�rting s�rvic� usP� by � --- _
<br /> Lender in connecuon with this loan. unless applicabk law provides otherwise.Unless an agreement is made or applicable Iaw ���;�'; ' �'�
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<br /> requires intemst to bc paid,Lcnder shall not tr;requued to pay Borrower any intcrest or camirigs on thc Funds. Fiorrower and f� �'� �
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<br /> L.ender may agrec in wdtin8,howcvcr,�hat interest shail be paid on thc Funds.Lender shail give to Sartower,without charge,an " '•><' '
<br /> annual aa:ounting of ihe Funds,showing crcditsenddebits to the Funds and the purpose for which cACh debit to Ihe Funds was :�
<br /> madc.Thc Funds arc plcdged as addjtional sccuriry Caall sums scc;urcd by d�is Sccuriry Instrumcn4 • ;, y
<br /> �r If thc Funds hcld by L.cndcr cxcecd Ihc arnounL�perrnlUCd to bc hcld by applicablc Inw.I.cndcr shall account to Borrowcr for :' ���:
<br /> � thc excess�unds in accordance with thc requiremcnuof applicablc law.If thc nmaunt af thc Funds hcld by Lcnder nt any amc is .�'',
<br /> ; not sufficicnt w pay thc Escrow Itcrns whcn duc,l.cndcr may so notify Borrowcr in wripnb,und,in such casc Borrowcr shall pny
<br /> � to L.cnder the amount necessary to make up Ihe deficiency. Borcower shull muke up the deficiency in no more Ihan twelve n
<br /> � monthly paymenis,at l.ender's sole discretiun. �„ _
<br /> Upon payment In full of all sums secured by ttais Security Instrumcn�I.endcr shull promptly refun3 to Borrower any Funds ;�
<br /> held by Lender. It,under paragraph 21,Lender shall acquire or sell ihe Property,Lender. pdor w the ac;quisidon or sale of the ��-s= , --
<br /> Property,sheU apply any Funds held by Lender at dic time of acquisiuon or sale as a credit aguinst the sums secured by this :,�___
<br /> Security InswmcnG ��`� � --
<br /> pp Y PP P P Y Y P S�P �,�'� ��
<br /> 3.A lication of Pa ments. Unlcss a licablc law rovides otherwisc,all a ments rcceivcd b L.endcr under ara hs �
<br /> 1 and 2 shall be applied: fust,to any prepaymcnt cGarges duc undcr ihc Notc;sccond,to tunounts payablc undcr paragraph 2; •`•`;s��'��
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<br /> third,to intemst duc;lourth,to principal due;and last,w any latc chargag due under the Note. � ���'��ri.
<br /> i 4.Charges;LEens. Borrowcr shaU pay all taxa, assessmcnts, chargcs, flnes and impositions atrributable tn the Property °`�''�_ �
<br /> I which may attain prforiry ovcr this Setnrity instrurncnt, and tcaschold payments or ground rents,ii anv.Sorrower shall pay thesc .�='�T aY, ...�,�:
<br /> obligations in thc manncr provided in paragraph 2. a if not paid in that manncr,Sorrowcr shall pay thcm on timc direcdy to thc ��'�- .•�+'�•�
<br /> person owcd paymcn� Borrower shall prompUy fumish to L.cndcr all notices of amounts to bc paid under this paragraph. If ' 'tl'"� �
<br /> ' Borrower makes these paymcnts direcdy,Borrower shall promptly furnish to Lender receipts evidencing the payments. • �
<br /> Borrower shall promptly dischar�e an�lien wt�ich has priority over this Security Instrument unless Borrower: (a) agrees in "
<br /> wridng to the payment of the obligauon saured by�e lien in a manner accepta�le ro I.ender, (b)contests in good faith the lien j
<br /> by, or defends against enforcement o! the lien in,Ie�al proceedings which in the Lender's opinion operate to prevent thc �
<br /> enforcement of the lien; or(c)secures from the holder of thc lien an agreement satisfactory to Lender subordinapng the lien to !
<br /> this Security InswmcnG If Lender determines that any pan of the Property is subject to a licn whicli may ausin priority over this I
<br /> Security Instrumcnt, Lender may givc Bonowcr a noticc idcntilying thc licn. Borrowcr shall satisty thc licn or takc onc or morc �
<br /> of the acdons sct tonh abovc within 10 days of thc sivmg of noticc.
<br /> Form 3028 9/C0
<br /> , �•8R(NE)�ezui.ai rxgazois i�nima:
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