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<br /> TOGETHER WITH all the improvemen[s now or herenfter erected on the propeny, and all easements, appurtenances,and �
<br /> � fixtures now or hereafter a part of the property, All replacements and additions shall ulso be covered by this Sccurity
<br /> � � Instrumcnt.All of the foreguing is referred to in this Security Instrument ns the "Propcny." �
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<br /> BORROWER CUVENANTS that 8orruwer is lawfully seised of the estat�hereby wnvcyed:uid has the right to gra[tt and -
<br /> ` � convey the Property nnd that the Properry is unencumbered, except for encumbrances of record. Borrower warrants and will ,-
<br /> defend generally the title to the E'roperty against all claims and demands,subjece[o any encumbrances af record.
<br /> ,-- ; THIS SECUR1TY INSTRUMENT combines uniform covenants for na[ional use and non-uniform covenants with limited .;. . —
<br /> � variations by jurisdiction to constitute a uniform security instrumenc covering real property. � �
<br /> � UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: •� �'�•��;. .. ="
<br /> . j 1. Payment of Principal and Interest; Prepaymei�t and Late Charges. Borrowcr shall promptly pay when duc the °�'.,'.T"'a"� -
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<br /> prtncipal of and interest on the debt evidenced l,y the Note and any prepayment and late charges due under the Note. •. �+�•�-�
<br /> 2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by I.ender, Bonowcr shall pay to ��—
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<br /> • Lender on the day monthly payments are due under the Note,until the Note 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 Properry; (b)yeazly leasehold payments �.��`;�=
<br /> or round rents on the Pro e y; y y p p ny� p Y P ' ��`-�-
<br /> ,�I g p rty,if an (c) earl hazard or ro e �nsurance remiums;(d)yearl flood insurance remiums, .�.�..�-;
<br /> tf any; (e)yearly mortgage insurance premiums, if any; and(� any sums payable by Bonower to Lender, in accorda�nr,e with ,;;�,:•
<br /> the provisions of paragraph 8,in lieu of the payment of moitgage insurance premiums. These items are called "Escrow Items." _;s=
<br /> Lender may, at any timc, collect and hold Funds in an amount not to exceed the maximum amaunt a lender for a federally =�-°=:.
<br /> related mortgage loan may require for Borrower's escrow account under the federal Real Bstate Se[tlement Procedures Act of �'�'�'•;
<br /> 1974 as amended from time to time, 12 U.S.C. Section 2601 et seq. ("RFSPA'), unless another law that applies to the Funds �`�;
<br /> � sets a lesser amount. If so, L.ender ma ,at an time, collect and hold Funds in an amount not to exceed the lesser amount. - '`'�'�-'�;
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<br /> Lender may estimace the amount of Funds due an the basis of current data and reasonable estimates of expenditures of future t.�;,-�-
<br /> � Escrow Items or otherwise in accordance with anplicable l�w. ���'y`.�-
<br /> '"'• The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entiry ^'���L�
<br /> (including I.ender,If Lender is such an institudon)or in any Federal Home Loan Bank. I.ender shall apply the Funds to pay the ;� � ��.�
<br /> y, Escrow Items. L.ender may not charge Borrower for holding and applying the Funds,annually analyzing the escrow account. or � ' ��._�.-_
<br /> verifying the Escrow Items,unless Lender pays Borrower interest on the Funds and applicable law permits L.ender to make sucb - - -
<br /> a charge.However, I.ender may require Borrower to pay a one-time charge for an independent real estate tax reporting service �
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<br /> used by Lender in connectton with this loan, unless applicable law provides otherwise. Unless an agreement is made or c 1u�s_
<br /> applicable law requires interest to be paid, I.cnder shull not be required to pay Bonower any interest or earnings on the Funds, R:
<br /> Bonower and Lender may agree in writing.however, that intcrest shall be paid an the Funds. Lender shall give to Bonower, '�'=
<br /> without charge, an annua] accounting ot the Funds, showing credits and debits to �he Funds and the purpose for which each �,�
<br /> . debit to the Funds was made.The Funds are pledged as additional security for all sums secured by this Securiry Iustniment. --
<br /> .. If the Funds held by Lender exceed the amoun[s permitted to be held by applicable law,Lender shall account to Bonower ��
<br /> t for the excess Funds in accordance with the requirements of applicable law. If the amount of the Funds held by Leader at any �
<br /> time is not sufficient to pay the Escrow Items when due,Lender may so notify Borrower in writing,and,in such case Borrower
<br /> ' shall pay to I.ender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than _�
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<br /> twelve monthly puyments,at Lender's sole discretion. —
<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 acquire or sell the Propeny.Lender,prior to the acquisition or sale E�'= --
<br /> �� of the Property, 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 /> t 3.Applicution of Payments.Unless applicable law provides othenvise,all payments received by Lender under paragraphs -
<br /> 1 and 2 shall be applied: first, to any prepayment chazges due under tlie Note; second. to amounts payable under paragraph 2; _°
<br /> �, third,to interest due;fourth,to principal due;and last,to any late chazges due undet ihe Note. - -
<br /> 4.Charges; Ltens. Bonower shall pay all ta�ces, assessments, charges, fines and impositions attributable to the �roperty
<br /> • , which may attain priority over this Security Instrument, and Ieasehold payments or ground rents, if any. Bormwer shall pay �-;�`,
<br /> these obligations in the manner provided in paragraph 2,or if not paid in that rnanner,Borrower shall pay them on time directly -'�
<br /> t�the person owed payment. Bonower shall promptly furnish to Lender all notices of amounts to be paid under this pazagraph. �;;' "
<br /> If Borrowcr makes these payments direc�ly, Borrowcr shall promptly fumish to Lendcr receipts evidencing the payments. '"'
<br /> Bonower shall promptly discharge any lien which has priority over this Securiry lnsttument unless Bonower: (a)agrees in � ? - _ ;�;�'�'_1
<br /> writing to the payment of the obligation secured by the lien in a manner acceptable ta Lender; (b)contests in good faith the lien . :'; .
<br /> b or defends a ainst enforcement of che lien in, le al roceedin s which in the i.ender's o inion o rate to revent the ���"'�"' �� ='
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<br /> enforcement of the lien; or(c)secures Gom the holder of the lien an agree�ment satisfactory to I.ender subordinating the lien to �
<br /> this Security Instrument. If I.ender determines that any part of the Property is subject to a lien which may attain priority over �
<br /> this Security Instrumcnt, Lcnder may give Borrowcr a noticc identifying the licn. Borcower shall satisfy thc lien or take one or � • '�•
<br /> , morc of thc actions set forth abovc within 10 days of thc giving of noticc.
<br /> Form 3028 9/9
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