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<br />` TOGETHER WITH all the improvemenu now or hereaRer erected on the property.and all easemenu.agpurtenances, and � ; •-
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<br /> � - fixtures now ar hereafter a part of the property. All replacemenu and addivans shall also be cuvered by this Security .`b: . ,s __
<br /> instrument. All of the foregoing is referred to in this Security Instrument as the"Property." ' � � � �'-
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<br /> BORROWER COVENAN'FS that Borrawer is lawfully seised of the estate hereby conveyed and has the right to grant and • ,-; .
<br /> convey the Property and [hat the Pmperty is unencumbered. except for encumbrances of record. Borrower wamants and will i a : __L__'��-
<br /> defend generally the title to the Property agair�st all claims and demands,subject to any encumbrances of record. , � —.
<br />- THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenanu with limited _ � �`
<br />._,; variatiars by jurisdiction to consiitutc a uniform security instrument covering real properry. _ __ ' ,-_� _' _ ._
<br /> L�IFORM COVENANTS. Borrower and Lender covenant and agree as follows: • � " °
<br /> 1_ Payment of Prittcipat and Intemst; Prepaymeat and Late Charges. Borrower shall promptly pay when due the �'
<br /> ` princi-,�I of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. _._, ,,.,�-.:.,�+��s,di�`�
<br /> - 2. Fands for Taxes and Insurance.Subject to a�plicable law or to a written waiver by Lender, Borrawer shall pay to �' �:��"^_"-
<br /> � Lender on the day�monthly paymenu are due under the Note.until the Note is paid in full,a sum("Funds")for. (a�;earty taxes ,��, — =,,��
<br /> � - and ass�sments which may attain priority over this Securiry Instrument as a lien on the Property;(b)yearly leasehotd paymenu ^�*•�_. :•.__'� `� _
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<br /> or gr�und rents on the Property.i•.`uny; (c)yearly hazard or property insurance prentiums:(d)yearly fload insurance premiums. - - -.-.--
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<br /> : if any; te)yearly mortgage insura.-w-e premiums, if any: ar.sa�t)anY sums payable by Bonower to Len:er, in acco:�ance with , ,;;�=�--?� "`-
<br /> the provisions of patagraph 8. in lieu of the payment of mortgage insurance premiums. These items are called "Esccow Items." ��':::�:;�.��"`�'` `' _
<br /> Lender may,at any time. rnllect and hold F�-kas in an amount not to exceed the maximum amount a lender for a federaUy �-'
<br /> ;±��44��''�_�°.
<br /> related mortgage loan may require for Borrow�'s escrow account under the federal Real Estate Settt.ment Procedures Act of '�'��� - -
<br /> 1974 as amended from time to dme, 12 U.S.C. Section 2601 et seq. ("RESPA"),unless another Iaw that applies to the Funds �r°.�.,f"., . _ �
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<br /> sets a lesser amount. If so. Lender may,at any ame, collect and hold Funds in an amount not to excaed the lesser aznount. t, - �
<br /> � Lender roay estimste the amount of Funds due on the basis of current data and reasonable estimates of expertditures of future '�r��y�ri=
<br /> ': Escrow Items or o;hernise in acconlartce with a�licable law. ` ' a.
<br /> The Funds �::,'k-�11 be held in an institutien whose deposits are insured by a federal agency. i�mentality. or endty ..••�. �.: _;_�.----
<br /> • (includiag L.ender,if Lender is such an instituaon)or in any Federal Home Loan Bank_ Lz:Aer shall apply the�runds to pay the ;•:1;�::�I n.��` � � .,���;
<br /> � Fscrow Items.Lender may not charge Barrower for holding and applying the Funds,al*s�.:�_'�y arialyz�ng the escrow aacount,or , __
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<br /> verifying the Escrow Items.unless I.ender pays Borrower interest on the Funds and a�p:::able law pemuu Lender to:r.aice sac-� ` __.�;s ';• ��.:
<br /> � a charge. However,Lender may require Borroaer to pay a one-time charge for an independent real�tate tax reporting service ' `�,;,` ��
<br /> . used by Lender in connection with this loan, unless apF�.icable law provides othenvise. Unless an a�eement is made or �. _ . .� ;':: �-
<br /> • •� appl�scahte law requires interes�t•3 be paid.Lender shall net n:required to pay Borrower any interest or earnings on tha Funds. ( � '. ':�;': �
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<br /> $nrrc,wer and Lender may agrea iz writing, however, t hat in r�res t s h a l l b e p a i d o n t h e F u n d s. L e n d e r s h a l l g i v e t o$o r r o w e r. , . Y.��• ;,:.<;.
<br /> without charge, an annual accoandng of the Funds, showing credits and debits to the �unds and the purpose for which each '" ` ' �''���" '��
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<br /> debit to the Funds w�s made.The Funds are pledged as additional securin•fflr all sums secured by this Security Insuument.
<br /> ,� If tl�e Funds held by Ler.rl�r exceed the amounts permitted to be held by applicable law. Lender shall account to Borrowet - ,> .._��,-�'
<br /> ' for the excess Funds in accorcancY with the requiremenis of applicabie law. If the amoant of the Funds hetd by Lender at any _ ._ . !�•: '��-.
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<br /> tircK is not sufficient to pay the&scrow Items when due,Lender may so notify Borrower in writing,and,in such case Borrower ;• •Y+P-ti�f;p:. ._1f
<br /> . shall Qay to Lender the amount necessary to make up ehe deficiency. Borrower shall make up tl�e deficiency in no more than ,f��;�• ;`;;�"';_'. �.
<br /> • twelve monthly payments,at Lender's sole discretian. h'�����`
<br /> e ,��y:
<br /> Upon payment in full of all sums secere3 by this Secuxity Instrument, Lender shall promptly refund to Bormwer any ���=
<br /> Fur.ds held by Lxrider. If,under paragraph 21.Lender sh.ali acquire or sell the Property.Lender,prior to the acquisipon or sale +��_�,, _,.-
<br /> '�,�;': of N'a�Fruperty.shal!app!y any Funds held by Lender a:the e+me of acquisition or sale as a credit against the sums secured by �� � --` _. .
<br /> this Security Instrument. � ����-
<br /> 3.ApplicatIon of Payments.Unless applicable law provides otherwue.all paymenu received by Lender under paragiaphs
<br /> � 1 and 2 shall be a�lied: first,to any prepayment charges due under the 1o:e; second.to amounts payable under paragraph 2; ___ _; --
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<br /> __�; third.to interest due;fourth,to principal due;and lmt,to any late charges due under the Note. ��_,;__W:_ ='
<br /> T�' �4.Charges; Ltens. Borrower shall pay ali ta�es,assessments, charges. fines ar.0 icr.positions attributable to the Property �"�:-�';,,":�;��r . -
<br /> •: � ', whici may attain priority over this Security Instrument, and leasehold pa}•ments or g:onnd rents, if any. Borrower shall pay `'�?±�'
<br /> _...:.�„�
<br /> � ' these obligadons in the rnanner provided in Fa*�3raph 2.or if not paid in Pnat manner.Borrower shall pay them on time directly - -- . _
<br /> to the person owed payment.�orrower shall�rompdy fumish to Lender aU nodces of amounts to be paid under this para�raph. ''�� ---
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<br /> Lf�orrower makes these payments direcdy.Borrower shall ptomptly furnis6 to Lender receipts evidencin�the paymenu. '` _"�—
<br />, . Borrower. a a ees in -_ ��:��
<br /> ' ri v e r t h i s S e c u ri I�.s t r u m e n c u n l e s s O 'r�"°'-�- -
<br /> Borrower shall promptly distharge any lien wh�ch has pno ty a ty �3 .
<br /> , wriang to the payment of the obligation secured by the lien in a manner asceptable to Le,~,der:(b)contesu in ood faith the lien �`� -""'��`" --_
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<br /> • •(;; by. or defends against enforcement of the lien in, legal proceedings which in the Lender's openion operate to prevent the ,' .. ,: .• �_
<br /> • �`:t enforcement of the lien:or(c)secures from t;,:holder of the lien an agreement satisfactory to Len�er subordinating the�ien to
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<br /> this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority ove: '`'_i►�•:±.---` '`"':'.}""-_-`s'
<br /> ' i t'`.is Security Inswment.Lende*may give Bonvwer a notice identifying the lien.Borrn.u�er shall satisfy the lien ec take one or s,. : ,::. '� , ' '�;-
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<br /> • m�Te of the actions set forth nbotie within]0 days of the givin;of noace. �_�--%�_:��_-�=-�=�•
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<br /> .: ��; Forrn 3020 9I90 __=�-.����:;
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