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<br /> TOGETHER W1TH all the improvements now or hereafter erected on thc property, and"all easements,appurtenances,and
<br /> fixtures now or hereafter a part of the property. All replacements and additions shall also bc covered by chis Security „
<br /> lnstrumeni. All of[he foregoing is refcrred to in this Scciirity Instrument as the"Property." . �
<br /> IBpRROWER COVENAhTS that Borrower is lawfully seiscd nf the cstatc hereby conveycd and has the right co grnnt and —
<br /> I convey the Propeny and thac the Propeny is unencumbered, except for encumbrances of record. Borrower wanan[s and wlll
<br /> 1 defend generally the title to the Property against all claims and demands.subject to any encumbrunces of record. -
<br /> THIS SECURITY INSTRUM ENT combines uniform covenants for nutional use and non-uniform covenanes with limited
<br /> variations by jurisdietion to conscicuce a uniform security instrument covering real property. �
<br /> UNIFORM COVENANTS.Borrowcr and Lender covenant and agrec as follows: ,
<br /> �,,,,,1, 1. Payment of Principal and Interest; Prepayment and Late Charges. Bonower shall promptly pay when due the ,
<br /> .. . prtncipal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. .
<br /> 2. Funds for T'axes and Insurance. Subject to applicable law or�o a written waiver by Lendsr, Borrower shall pay to �.�;,,;. � ;
<br /> 1,ender on the day monthly payments are due under the Notc,until thc Nae is paid in full,a sum("Funds")for:(a)yearly taxes ��:•:;�.;�_ ..
<br /> and assessments which may attain prioriry over this Security Instrument as a lien on the Property;(b)yearly leasehold payments �:`�����'
<br /> : or ground rents on the Property,if any;(c) yeazly hazard or property Insurance premiums;(d)yeazly flood insurance premiums, „k,�__�--�•
<br /> sums a able b Borrower ta I.ender, in accordance with ' �`��°n
<br /> if any; (e) yearly mortgage insurance�remiums, if any; and (� any P Y Y :
<br /> ' the provisions of paragraph 8, in lieu of che payment of mortgage insurance premiums.These items are called 'Escrow Items."
<br /> : I.ender may. at any time, collect and hold Funds in an amount not to exceed the maximum amount a lender for a federally ,;:�-
<br /> related mort$age loan may require for Borrower's escrow account under the federal Real Estate Settlement Procedures Act of .�'•i:,�.,,,_.-.
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<br /> 1974 as amended from time to time, 12 U.S.C. Section 2601 et seq. ("RESPA"), unless another law that applies to the Funds
<br /> sets a lesser amount. If so, Lender may, at any time, collect and hold Funds in an amount not to exceed the lesser amount. :
<br /> �� Lender may estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future r:y',,
<br /> Escrow Items or otherwise in accordance with applicable law. "• •�
<br /> The Funds shall be held in an institution whose dcposits are insured by a federal agency, instrumentality, or entity y,��j_
<br /> � • (including Lender,if Lender is such an institution)or in any Federal Home Laan Bank• I.ender shall apply the Funds to pay the �. ;;�;.
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<br /> , � Escrow Items. I.ender may not charge Borrower for holding and applying the Funds,unnually analyzing the escrow accaunt,or -.
<br /> � vertfying the Escrow Items,unless l.ender pays Borrower interest on the Funds and applicable law permits Lender to make such �•.��"'_'
<br /> �� a charge. However, Lendcr may require Borrower ta pay a one-time charge for an independent real estate tax reporting service ':
<br /> used by Lender in connection with this loan, unless applicable law provides otherwise. Unless an agrecment is made or ,T','�� '�.
<br /> ,�. applicable law requires interest to be paid, Lender shall not be required to pay Borrower any interest or eamings on the Funds. �.�,,
<br /> Bonower and Lender may agree in writing,however, that interest shall be paid on the Funds. I.ender shall give to Bonower, ��?K . �.�.'�
<br /> �` without chazge, an a�ual accounting ot che Funds,showi��x credits and Qchits to the Funds and rhe purpose for which each �:�+
<br /> Y debit to the Funds was made.The Funds are pledged as additional securitv for all sums secured by this Security Instrument. ' ,��s;_
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<br /> � If the Funds held by Lender exceed the amounts permitted to be held by appiicable law, Lender shall account to Bonower tii.�
<br /> for the excess Funds in accordance with the requirements of applicable law. If the amount of the Funds held by Lender at aay f.-�
<br /> time is not sufficient to pay the Escrow Items when due,Lender may so notify Bonower in writing,and, in such case Bonower .�,
<br /> •� � shall pay to L.ender the amount necessary to make up the deficiency. Borrower shall make np the deflciency in no more than ;l�.:
<br /> ?' twelve monthly payments,at Lender's wle discretion. ,r�°
<br /> �! Upon payment in full of all sums secured by this Security Instmment, Lender shall promptly refund to Bonower any
<br /> '�' Funds held by Lender.If,under pazagraph 21, Lcnder shall acquire or sell the Property,Lendcr, prior to the acqutsition or sale
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<br /> . j of che Propetty,shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by
<br /> <• this Security Instrument. _—
<br /> �., 3.Application of Puyments.Unless applicable law provides othenvise, all payments received by L.ender under pazagraphs _
<br /> � 1 and 2 shall be applied: first,to any prepayment charges due under the Note; second.to amounts payable under para�raph 2: _.,
<br /> '� third.to interest due;fourth,to principal due; and last,to any late chargcs due under the Note. __
<br /> 4.Charges;Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property
<br /> which may attain priority over this Securiry Instrument, and l�asehold payments or ground rents, if any. Bonower shall pay �;•�__
<br /> � these obligations in the manner provided in paragraph 2,or if not paid in chat manner, Borr�wer shall pay them on time directly �.;F�..�,_
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<br /> • �,I to[he person owed payment.Bonower shall prompdy furnish to Lendcr all notices of amounts to be paid under this paragraph. - __ ,
<br /> = If Bonower makes these payments directly,Bonower shall promptly fumish to Lendcr receipts evidencing the payments.
<br /> � ; � Borrower shall promptly dischargc any lien which has prioriry over chis Security Instrument unless Bonower: (a)agrecs in -
<br /> • writing to die paymem of the obligation secured by the lien in a maiuier acceptable to Lcnder; (b)contests in good falth the lien ,_,
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<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 holder of the lien an agteement satisfactory to Lender subordina[ing the lien to .�'_..�:
<br /> I this Security Instrumcnt. If l.ender dctermines that any parc of thc Property is subject to a lien which may attain priority over .. Y ,N:a,,;:;;y.r.:'.�
<br /> this Security Instrument, Lender may give Bonower a notice identifying the lien. Bonower shall satisfy the lien or take one or f.':�:�'
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<br /> � more of the actions set forth above within 10 days of the giving of notice. 'r•,�: •
<br /> Form 3028 9l90 N•�
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