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<br /> • ' TOOETHER WITH all the improvemcnts now on c�rcaftcr erectcd on the property, and all cascments,appunen:�nces,and :,..,,_. ti�
<br /> fixtures now or hereafter a purt of the properry. All replacements .uid additions shnll also he covered by this Security �•-'�'�' ;nY�,
<br /> Instrument. All of thc foreguing is referrcd to in this Security Instrumcnt as[he"Propcny."
<br /> BORROWER COVENANT5 that Borrowcr is lawfully sciscd of thc cstatc hcrcby convcyed .md has thc right to grant and ���-�•�•-•
<br /> convey the Property and that the Properry Is unencumbered, except for encumbrances of record. Borrower w.ur.lncs and�vill ' , :�r
<br /> defcnd generally thc tltic to th�Propeny against all clAims and demands, subjcct to any cncurnbranccs of rccord.
<br /> ' Y"Z:.
<br /> � TH1S SECURITY INSTRUMBNT combines uniform covennnts for national use and non-unifarm covcn:uits with limited ;` ` �'.a���.
<br /> , veria�ions by jurisdiction to constitute a uniform security instn�mr.nt covering real property.
<br /> r � UNIFORM COVENANTS. Bonawcr and l.cnder covcnant and agree as fulluws: , �
<br /> `��;•�:v';a1�*�_�.:_
<br /> 1. Payment of Princ[pal und Intcr�st;
<br /> Prepuyment and Late Chacg�c. Borrowcr shall promptly pay whcn duc thc ��� ��-
<br /> ;.�»�""�' � principal of t+nd interest on the debt evidenced by the Note and any prepayment and late charges duc under the Note, . .x�;,l;;;= �:••��
<br /> '�•••~"i°'�' ' 2. Funds for Taxes und Iasurnnce. Subject ta upplicable law or to a writtcn waiver by L.cnder, Borcowcr shall pay to .y+jytr;.•,si�;±lE,�-.:
<br /> L.ender on the day monthly payments aze due undcr the Note,until the Note is paid in full,a sum("Funds")for. (a)}�eady ta�ces , t;�l,�_r y�;,_._
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<br /> and assessments which may attain prioriry over this Security Instrument as a licn on thc Propeny;(b)yearly leaschold payments . ^_r__.:.,,.�_—
<br /> . .,�...
<br /> � carl hazard ar ra rt insurance remiums;(d)yearly flood insurance premiums. . . ,... -___�_._�_,_
<br /> # or ground rents on the Properry, if any;(c)Y Y P P� Y p �._:.�
<br /> if any;(e) yearly mortgage insurance premiums, if any; and(�any sums payable by Borrower to Lender,in accordance wish -_,�--
<br /> the provisions of paragraph 8,in lieu of the payment of mortgage insurance premiums. These items are called "Escrow ltems." ,,rys`-
<br /> Lender may, at any time, collect and hold Funds in an amount not to exceed the maximum amount a lender for a fcderally ,:k Jy-'_
<br /> � � related mortgage loan may require for Bonower's escrow account under the federal Real Estate Settlement Yrocedures Act of __
<br /> r 1974 as amended from time to time, 12 U.S.C. Section 2601 et seq. ("RESPA"),unless another Inw that applies to the Funds ;,��,
<br /> � "� �` sets a Iesscr amoun t. I f s o. L e nder ma y, at an y time, collect and hold Funds in an amount not co exceed the Iesser arnount. ;��_.'__
<br /> Lender may estimate the nmount of Funds due an the basis of current data and reasonable estimaces of expend itures o f fu ture
<br /> V'.
<br /> � ���-'- -
<br /> Escruw Items or otherwise In accordance with applicable law.
<br /> 1'he Funds shall be held in an institution w hose d ep a s i t s a r e i n s u r e d b y a f ederal a genc y, Instrumentality, or entiry � �__
<br /> :�( (including I.ender,if I.ender is such an institution)or in any Federal Home Loan Bank• I.ender shall apply che Funds to pay the -:�;�
<br /> "'�F. Eserow Items. Lender may not charge Bonower for holding and applying the Funds, annually analyzing the escrow accouM, or �p�,
<br /> verifying ehe Escrow Items,uNess I.ender pays Bonower interest on the Funds and applicuble law permits Lender to malce such �;=�_.
<br /> a chazge. However, Lender muy require Boaower to pay a one•time chazge for an independent real estate tax reporting scrvice _ -�
<br /> us e d by Lender in connection with this loan. unless applicable law provides otherwise. Unless an agreement is made or ��
<br /> applicable law requires interest to be paid, Lender shall not be required to pay Bonower any interest or eamings on t he Funds. ��
<br /> Bonower and Lender may agree in writing,however,that interest shall be paid on the Funds. l.ender shall give to Borrower, .
<br /> __- - - _ � •�ishout 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 Funds are pledged as additional seeurity tor all sums se;curcd Uy this Sccurity Inscz'uo.::n'•• • [°
<br /> If the Funds hetd by I.ender exceed che amounts permitted to be held by applicable law,Lender 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 L.ender at any ��;__
<br /> time is not sufficient to pay the Escrow Items when due,Lender may so notify Bonower tn writing, and, in such case Bortower -
<br /> shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no moi�e than =
<br /> twelve monthly payments,at Lender's sole discmtion. —
<br /> � Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any ,,
<br /> Funds held by Lender.If,under paragraph 21. I.ender shall acyuire or sell the Property,Lender,prior to the acqulsition a sale �
<br /> of the Property,shall apply any Funds held by I.ender at the time of acquisition or sale as a credit against the sums secureci by _
<br /> this Securlty Instrument.
<br />- � 3.Appltcnt�on of Payments.Unless applicable law provides othenvise,all�ayments received by Lxnder 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; _
<br /> " third,to interest due;fourth,to princlpal due;and last,to any late chazges due under the Note.
<br /> � 4.Charges;Liens. Bonower shall pay aU taxes,assessments, charges,fines and impositions attributablc to the Property _
<br /> � which may attain prioriry over this Security Instrument, and leasehold payments �r ground rents, if any. Soaower shall pay _
<br /> these obligaiions ln the manner provlded in paragraph 2,or if not paid in that manner, Borrowcr shall pay them on time directly
<br /> to tt±e person owed payment. Bonower shall promptly furnish to Lender all notices of amounts co be paid undcr this paragraph. _
<br /> If Bonawer makes these payments directly,Bonower shall promptly furnish to Lender receipts evidencing the payments. _. __
<br />_� .+� � Borrower shall prompdy discharge any lien which has priority over this Securiry Instiument unless Borrower: (a)agrces in
<br /> writing to the payment of the obligation secured by the lien in a manner acceptable 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 /> �nforcement of the lien;or(c)secures from thc holder of the lien an agreemenc sacisfactory to Lcnder subordinating the lien ro �;��,
<br /> �� this Securiry Instrument. If Lender determincs that any part of the Property is subject to a licn which may attain priority ovcr ���:;.
<br /> _ ;� this Security Instrumcnt, L.ender may givc Borrower a notice identify'ng thc lien. Borrowcr shail satisfy che lien or takc one or ��;_
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<br /> ?i more of the actions set fonh above within 10 days of the giving of notice. * �
<br />_ Form 3028 0 ���� ,
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