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<br /> � `� .�,` 4 ` TOGEfHER W1'i7i a1l the improvements now or her�atter e�ted on thc property.and all easements.appurtenan�'es.and : '
<br /> ' fiuures now or hereafter a part of the property. All replacements aiid additions shall also be covered by this Scxurity r�_'' � t4
<br /> � �� • Instrument.All of the foregoing is refemd to in this Securiry[nstrument a,the"Propecty•" ,� �
<br /> • �`° BORROWER COVENANTS that Barrower is IawPuUy seised of the estate hereby conveyed and has the right ro grant and r
<br /> "�r. ',� " � P � � t far encumbrances af Rcord. Borrower waaants and wi11 •�,�`�- .
<br /> . , <: '. `' :4.�; conv the Pro e and that the Pro rty is unencumbered. eacep . ,
<br />- -•--^"'�• defend genecally the tide to the Praperty against all claims and demar.ds.subject to any encumbrance5 of rewrd.
<br />- `. -_._�.. K.: -
<br /> -,;: , .• .-. THIS SECURITY INSTRUMENT combines uniform wvenatus for national use and non-uniform wvenants with iimited
<br /> , .� variations by jurisdic�ion to consuate a unifarm scc�uity instrument covering rea!prapeny. _.�_� _ ___.
<br /> " UIYIFORM COVEI�ANTS.Borrovver and Lender covenant and agree as follows: �
<br /> . . � i, p�y�� oq�riacipaJ aad Inte�t; prepaymeut and Late Cdarges. Bomower shall promptly pay when due the -.r`�1'��
<br /> � ' ( principal of and interes�an the debt evidenced by the Note and any prepayment and late charges due under the Note. ;�
<br /> � - ` 2.Funds for Ta�ces and Insarence.Subjecc to apptica5le law or to a written waiver by Lender. Borrower shall pay to �'.";a . _
<br /> - .', Lender on the day monthty payments are due under the Note,until the Note is paid in fu11,a sum("Funds")for:(a)yearly taxes . ..:� ;
<br /> `�° ( and assessments w6icb may attain priority over this Security InsUVment as a lien on the Property:(b)yearty leasehald paymenu � �
<br /> � , . , or ground�enu on the Property.if any:(c)yearlY haiard or property insurance premiums:(d)yearly tload inswance psemiums. �,,;. , _
<br /> �` . ��- if any:(e)yearly mortgage insurance premiums. if any:and(�any sums payable by Borrower to Lender,in ascordance with <,
<br /> � � the provisions of paragraph 8.in lieu of the payment of mortgage insurance preiniums.These items are called"Escrow Items." � (" �� f
<br /> � '�• �. Lender may, at any ume, wllect and hold Funds in an amount nat to exceed the maximum amaunt a lender for a federally �
<br /> �' . related martgage loan may require for Borrawer s escrow account under the federal Real Estate Settlement Procedures Act of -
<br /> ` ' 1974 as amended fram time to dme. 12 U.S.C.Section 2601 et seq.("RFSPA").uiiless another law that applies to the Funds _
<br /> y - � ' sets a lesser amount. If so, 1-ender may, at any time, collect and hald Funds in an amaunt rtot to exceed the tesser amuurrt. , _
<br />_`�� �• ` � �• - Lendec may estimaie tbe amount of Funds due on the basis of current data and reasonable estimates of eapendituses of fumre �_ �
<br /> ° � � ` .�� Escrow Items or othenvise in accordance with applicable law.
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<br /> ' The Funds shall be held in an institution whose deposi[s are iasured by a federal agency. irutrutnentaliry, or entity
<br /> � (including Lender,if Lender is such an institution)or in any Federal Home Loan Bank.Len der shall apply the Funds to pay the ��' �
<br /> �t`� . � - Fscrow items.Lender may not charge Borrower for holdin and 1 'n the Funds,annuslly analyzing the escrow account,or ,
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<br /> �' ; verifying the Fscrow Items,unless I.ender pays Borrower interest on the Funds and applicable law peruuu l.ender to make such ,_Y _,-�., ..
<br />-''` `.�.�: Y` a charge. Howe�er.I.ender may require Borrower to pay a one-time charge for an independent real estate tax repurting service :.�°f��;�_ _ _
<br /> ��,f.'.. � � used by L.ender in connection with this loan. unless applicable law pmvides atherwise. iJnless an agreement is made ar ;, ;: _-___
<br /> ' � � . applicable law requires interest to be paid.Lender shall not be required to pay Borrower any interest or eamings on the Fands. '°.'�=�r
<br /> "�` � Boao�ver and Lender may agree in�vriung,however.ihat interest shall be paid on the Funds. Lender shaU give to Borrower. .� ''�� �
<br /> - � . without charge, an annual accounting of the Funds. showing credits and debits to the Funds and[he purpose for which each ; •��r,:,,,_,
<br /> � ' debit to the Funds wac made.The Funds are pledged as additional security for all sums secured by this Security Insdument. `�
<br /> � � If the Funds held by Lender exceed the amounts permitted to be held by applicable 1aw•Lender shall accaunt to Borrower
<br /> for the excess Funds in accordance with the requirements of applicable law.If the asnoum of the Funds held by I.ender at any : �...�-
<br /> . - - �� � � •; fime is not sufGcient to pay the Escrow Items when due,Lender may so notify Borrower in writing,and,in sueh case Borrowe�r :.��
<br /> '�.� • � : shall pay to I.ender the amount necessary [o make up the deficiency. Borrower shall make up ihe deficiency in no more tha» '���;�,r=
<br /> . twelve monthly payments,at I.ender's sole discretion. �p:t v
<br /> ' � Upon payTnent in full of all sums secured by this Security Instrument. Lender shall promptly refund to Borrower any '_!+__"�
<br /> . • ' �.,f"�t Funds held by l.ender.If,under paragraph 21.Lender shall acquire or sell the Praperty,l.ender.prior to the acquisition or sale .
<br /> .�.•� _ .'.;; of the Property,shaU spply any Funds held by L,ender at the time of acquisition or sale as a credit against the sums secured by ..:�.. . ;��
<br /> � ' � ....
<br /> -�, ; � :_ this Security Instrument. . =-
<br /> - � � � 3.Applirat�on of Payments.Unless applicable law pravides otherwisc,al l payments receiv e d by L en de r u n d e r p a r a g r a p h s •.:�:�:-
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<br /> 1 and 2 shall be applied: first.to any prepayment charges due under the Nate: second,to amaunu payable under paragraph 2; _
<br /> .r,..�.• � . third,to interest due:fourth,ta principal due:and last,to any late charges due under the Note. • °�-
<br /> 4.Chatges: Liens. Borrower shall pay all taxes,assessments,charges,fines and impositions attributable to the Property ,
<br /> . � ' which may attain priority over this Security Instrument, and leasehold payments or ground renis, if any. Borrower shall pay
<br /> � • . . '. thesc obligations in the manner provided in paragraph 2.or if not paid in that manner. Borrower shalf pay them on time directly ___
<br /> � � . to the person owed payment. Borrawer shall promptly fumish to Lender all natices of amounts to be paid under this paragraph. , .
<br /> � �� . ' if Barrowcr makes these paymenGc directly.Bortower shall promptly fumish to Lender receipts evidencing the paymenu. , •
<br /> ' ' Borrawer shall promptly discharge any lien which has priority over this Security Instrument un:ess Bonower:(a)agrees in ' , :, .1:•
<br /> � • . writing to the payment af the obligatian secured by ihe lien jn a manner acceptable to Lender:(b)contests in gaod faith the tien . , •': . ..
<br /> .' �i . by, or defends against enforcemem of the lien in. legal procecdings which in thc lxnder's apinion operate to prevent the .
<br /> "��a�-: • enforcement of the lien: or Ic)secures from the holder of the lien an agreement satitifactory to Lender subordinatin�the lien to .
<br /> . this Security Insirum�nt. If Lender determines that any part of the Property is subject to a lien which may attain priority over
<br /> this Security lmtrument. Lender may give Bnrrower a nrnice identifyir:g the lien. Bonawer shall satisfy thc lien or take one or .
<br /> � more af the action�yet forth ubove within 10 days of the giving of notice. .
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