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<br /> ' T�OGETHER WITH ail the improvements now or hereafter erected on the property.an�all easements,appurtenances.and ." � ' t
<br /> fixtures naw or hereafier a pan of tne pmperty.All replacements and addidons shall also be covcred by this Security Instrument , • , . _
<br /> All of the foregoing is referred to in this Security Instrument as 4he"Property° • , �� _
<br /> � BORROWER COVF1�iAMS ihat Bortower is Iawfully seised of the estate hereby conveyed and has the right to grant and , � .
<br /> convey the Propercy and that the Progerty is unencumbered, except for encumbrances of record. Borrower warrants and wi11 ' ` � _ -
<br /> defend generally the tifle to the Property against all c!aims and demands,subject to any encumbrances of recerd. � '.
<br /> THIS SECIJRI'TY II�ISTRUMFM combines uniform covenants for narional use and non-uniform covenants with lirr►ited ; '
<br />, -- variations by jurisdiction w constitute a uniform security insaument covering real property. � - , - -- � - �.
<br /> iJNIFORM COVENANTS.Borrower and Lender covenant and agree as follows: t � ,
<br /> 1.PayBSent of Principal and Interest;Prepayment and Late Charges. Borrower shall prompfly pay when due the f' ' .
<br /> principal of and'mterest on the debt evidenced by ttee Note and any prepayment and late charges due under the Note. i . . ,
<br /> Z.Funds for Taxes and Insurance. Subject co applicable law or to a wriuen waiver by Lender, Borrower shall pay to ; -• � • �
<br /> ` � L.euder on the day mont}ily gayments are due under the Note,until the PIote is paid'm full,a sum("Funds")for.(a)yearly taxes ;
<br /> and assessments which may attain priority over this Ser.urity Insuument as a lien on the Property;(b)yeazly leasehold paymenu :;�.� __
<br /> '� or ground rents on the Property.if anY; (c)Yearly hazard or proper[y i�c��rance ptemium�(d)Yearly flood insvrance premiums,if
<br /> �Y.(e)Y�Y�ongage insurance premiums,if any;and(�any sums payable by Borrower tn I.ender.in accordance with the � •
<br /> �i provisions of paragr�h �, in lieu of the payment of m.crtgage insurance premiwns.These items are called "Escrow Items." . '.,�.`,r*'r y
<br /> Le.�der may,at any time,collect and hold Funds in an ama�►t noi w exceed the maxiraum amount a lender far a federally related , ' � `
<br /> � mortgage loaa may require far Barrower's escrow accoim�under the federal Real Esrate Setticmeut Proced�s Act of 1974 as • . '�" `
<br /> . • amended from vme[o time,i 2 U.S.C.Section 260I ei seq. ("RFSPA"}.uniess anutt�law that apglies tn the F�s yets a� - __ `-" . . `$:
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<br /> . amount If so,I.ender may, at any time,colleci and hold Funds in an amount not tn exceed the lesser amouns_ Le�der�y ;,°�; . "_
<br /> esaimate the amount of Funds due on the basis of current data and reasonable estima:es of expendimres of fuase Fscrow Items or ' � y• `-. ��
<br /> ptheawiSE i:l a�xArdaACC with applicxb161aw. . , ----;��°.
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<br /> 'Ihe Funds shall be held in an institution whose deposits are insured by a federal agency,instnw�entality,or eniity(including • �`' _ �
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<br /> ;'d�� L,euder,if Lead�is such aa instimtion) or in any Federal Home Lvan Bank. i.eader shall apply the Funds to pay the Fscr�oa+
<br /> Items.I.euder ma not char e Bonower for holdin and 1 ' the Fuads,annuall anal tts°escrow account,or v (�� ��
<br /> Y B g aPP Y�B Y Y�8 � �►fY�B �:...
<br /> ' the Fscrow Items,untess I.eader pays Borrower interest on the Funds and applicable law pennits Lender ta make such a charge. • � = ��
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<br /> However,I.ender may myuire Borrower to pay a one-time charge for an iudependent real estaie tax reporting service nsed by •
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<br /> ' . L.ender in connection wiW this loau,unless applicable lza+provides oth�vvise. Unless an agreement is made or appficable law • �
<br /> requses inL�st to be paid,Lender shall not be required w pay Boim,�aer any interest or eamings on the Fnnds.Borrower znd '. �. �' �
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<br /> � Lendea may��i�wriang,however,that interest shaEl be paid on Z'�e Funds.L.ender shall give tn Borrower,without ch�ge,an . :� - „
<br /> annual accounting af the Funds,showing aedits and deb:ts to the F��s and the purpose for whicb each debit w the Funds was . ,L..�����"`�: .�, �`
<br /> ro�e.lhe Funds are pledged as additional security for a!1 sums secnred by this Secu:cty Ins�ument . �-.;` �
<br /> If the Funds held b L.wi::Er exceed the amounts ermiaed ro be held b applica!�lr law,Lender shaU aceomnx to Borrower for � `� � ..
<br /> � Y P Y ��: y---, � ; .
<br /> ,,�.y�, the eacess Funds in accordanca k:sh the reyuirements of applicable law.Jf the amount of the Funds�eld by Lender at any ti�e is ::.�,,;�� '�1i ` -
<br /> '`:,,;s aot sufficient w pay the FscroR IC:ms when due,Lender may so no6fy Borrower in writing,and,�sach case Bonower shall�y . '`•�• -�y; '�
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<br />, �:; to Lender the amount necessary to malce up the deficiency. Borrowea shall make up the defciency in no more than twelve , :��: �' "
<br /> � nonthly paym�ts,at I.eaider's sole discretion. �. ,k.a�.,_. �` `'
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<br /> Upon paymeat in full of aU sums secvred by this Seauity Instrument,Lender shall prompdy re f und to Borrower any Fun d s ;:'�'�;:�,i. �,
<br /> r1:113 b Lender.If,under ara h 21.Lender shall uue or sell the Pro Lender,prior to the acquisiaon or sate of the � � ' •"�-"•-r���"
<br /> Y P �P �1 � P�Y. .,�-:c.:: . s'-���
<br /> , Property. ��� 3pply any Funds held b�Lendea at the tune of acquisiuon or sale as a credit against the sums seGUed by ch.s : ' ��:'",� �
<br />� . Serauity Ins�en4 ..�„-�_ --_
<br /> 3.Applicatlon of Paymenta Unless applicable law provides othe:wise.all paymews reteived by Lender under paiagtaphs ��`�"'�� �
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<br /> 1 aa�d 2 shall be appli�d; f�t.to any prepaYment charges due under the Note:second,w amounts payable under paragraph 2: �°�'�'. Y
<br /> thffd..w interest due;fourth,w principal due:and last.to any late charges dne under the Nore. � - �'
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<br /> �.;.:� 4.Ch$a�c�;�aens. Borrower shall pay all taaes. assessmenis, charges, fines and imposiyions atttibutable to the Prope¢c� , Y ����� ."
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<br /> a�ich may a:.a:a priority over this Secority Instrument�and leasehold paymenis or ground rents,if any.Borrower shaU pay U;�� j��f
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<br />_ a1�:3ations in the manner provided in parag�aph 2.or if not paid in that manner.Borrower shall pay them on time directly to the • � �"�"T'�
<br /> • �aon owed payment Borrower shall pmmptly fumish to Lender all norices of amounu to be paid under �his paragraph. If ` ' � � � ��-
<br /> r��irower makes these paymenls direcdy.Bomower shall prompdy furnish to Lender receipts evidencing 1he payrr�enu. ; .`'�.-:_ �.
<br /> Borrower shall rom d dischar e an Len which has ori ov�this Securi Instrument unless Borrower. a a ezs i� � , .�` ��
<br /> P P Y � Y � Pn t5' tY ( ) � .
<br /> writing to the payment of the abligation secured by the lien in a manner acceptable tn Lendea:(b)contests in good faith the�sen ' ' - _
<br /> by, or defends against enforcement of the lien in, Ir.gal proceedings which in the Lender's opinion operate tn prevent the � � • �. .
<br /> . enforcement af the lien;or(c)secures from the holder of the lien an a�ecment satisfactory to L.cnder subordinating the lien tn • • .
<br /> this Secnrity Instrument If Lender determines that any part of the Pro�eaty is subje..^t to a lien which may auain prio;ity over tliis . � . ' � , • �: �
<br /> , Security Inswmen�Lender may give$orrower a notice identifying rhe lien.Borrower shall sdiisfy ihe lien or take one or morz � . � �:
<br /> of the acdons set forth above within 10 days of the giving of norice. . �,',.,;.. -
<br /> Form 302a 9�99 • � • •
<br /> • �-8R(NE)�sziz�.o� aaQe2ae ���a�a�.: . . ��.:'.
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