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<br /> , T0C3CTHER WITH all thc improvcmcn�s now on c�rcai�tcr crcc:tcd �m th.: pruperry,and ull uiscmcn4�, uppurtcnuuc:cs,und
<br /> fuctures now on c�rc�iftcr a purt of Q�c pruperty,All rc{�luccmcnt�und nddiuuns sh.al i�lm bc cc�vcrul by this Sc;curity Instrumcni.
<br /> � All of thc forcgoin�,is rcfcrrcd t�in this Sccuriry Instrumcnt us thc"Praperry."
<br /> BOIiP.OPJER COVENANTS U�at Rorrcnvcr iv lawfully sciscd of ihc cstatc hcrcby convayc�l iind has thc right to grunt und
<br /> � � ;�' c:onvey the Property and that the Ptc�perry is uacncumbered, except for encumbrunces ol' eec:urd. E3c�rruwer wiveunts und will
<br /> �� defend generally the tiQe to ihe Properry against nll clxims and demands,subject to any encnmhrunces of eec;ord.
<br /> ~' THIS SECURITY INSTRUMENT combines uniform covenan�s for napc�nid use :and nan-uniform covenan�ti with limited
<br /> �"�'� variatians by jurisdiction to constitutc a unii'orm sccurity instrumcnt cavcring rc:►1 property.
<br /> ' " " UIVIFORM COV�NANTS.Borrowcr und Lender covenant and ugree as follows:
<br /> ;' 1.Puyment of Princi�al und Interest; Prepuyment uad Late Char�e.g. Borrower shaU prompdy pay whcn duc the �.:,
<br /> , '� principal af and interest on the debt evidenced by the Note and any prepayment und late cBarges due under the Note. _��
<br /> ;,, 2.C�nds for Taxes nad Insurunce. Subject to upplic;ablc law or to a writtcn waivcr by L,cnder, Borrowcr shall pay t� ��`
<br /> �i. L,ender on the day monthly paymen4s azc duc under the Notc,unail thc Notc is paid in fuU,a sum("Funds")for:(a)yearly taxes �{_
<br /> �:--
<br /> and assessments which may auain priority over this Security Insuument as a lien on ihc Property;(b)yearly lcsieehold puyments =__
<br /> -� . or ground rents on the Praperty,if any: (c)�+carly hazard or property insuranc.e premiums;(d)yearly flood insurance premiums,if =_
<br /> ` , any;(e)yearly mortgage insurance premiums,if any; and(� any sums payable by Borrower to Lender.in accordance with the
<br /> � provisions of paragraph 8. u► lieu of the pay�nent of mortgage insurance premiums. 'Ihese items are called"Bscrow Items:' �
<br />;F�i � I.,ender may,at any time,coUecc and hold Runds in an a►r►ount nat w cxceed the maximum amount a lender for n federally related .�__
<br /> � mortgage loan may reyuire for Borrower's escrow account under the federal Real Estate Seulement Procedures Act of i974 as
<br /> � � �l amcnded from time to time. 12 U.S.C. Scction 2601 et seq. ("RESPA"),unless another law that applies to the Funds seGs a lesscr �_
<br /> amounG If so, Lender may, at any time, collect and hold Funds in an amount not to excecd the lesser amount. Lender may M
<br /> ,�• estimate the amount of Funds due on the basis of current data and reasonable esumates of expenditwes of future Escrow Items or
<br /> �.,, otheivvise in accordance�vith applicable luw. -
<br /> ` .� ' The Funds shall be held in an inspWUon whose deposits tue insured by a fecieral agency,insdumentality, or enuty(including
<br />-';���' �"' ' I.ender,if I.ender is sach an instituuon)or in any Fedcral Homc Loan Bank. Lc:ndcr shall apply the Funds w pay the Escraw
<br />=°'�` ' '% � Items.I.ender may not charge Borrower for holding and applying the Funds,annually analyzing the escrow account,or verifying
<br />`���= � '� the L�scrow Items,unless Lenaer pays Borrower interest on�he Funds and applicable law permits Lender to make such a chazge.
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<br /> `v`�'+•�.-<.• However, l.cnder may requira Buiiuwcr t:.�ay u:�r.c�me�hrro� !'^r an in�ir.nendent real estatC t�c tepotCiulg ServiCe uSCd by
<br /> ^��::�,�:.,• ' Lender in connection with this loan, unless appGcable law providc:s otherwise.Unless an agreement is made or applicable law
<br /> �,_,�;. _; �� requ'ues interest to be paid,Lender shall rna�tbe required to pay Borrowcr any int,erest or earnings on the Funds. Borrower and
<br /> �-u"a9j.�`'�'� ? Lender may agree in writing,however.that inteiest sh�ll bc paid on the Fl�nds.Lender shall givc to Borrower.without charge.un
<br /> _����� annual accounting of the Funds,showing credits and debits ta the Funds and the purpose for which each debit to the Funds wns
<br /> n�� � rraade.The Funds are pledged ns addition�l saurity for all sums secured by this Security Instrument
<br /> ""''� � If the Funds heid by I,ender exceed the amaunts permitted to be held by applicable law,Lender shall account to Borrower for
<br /> • ''����`�� the excess Fun�ls in accordance with the rec�nirements of applicable la�v.If the amount of the Fands held by Lender at any tirne is
<br /> - T""��"'�3�� not sufficient w puy the Bscrow Items when duc,Lender may so notify Borrowcr in wridng.and,in such case Borrower shall pay
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<br /> �-.--;;�,;�;;�� co I.ender Ihe amount necessury to make up the deficiency. Borrower shall make up the d�ficiency in no more th�n ewelve
<br /> —='�� monthly payments,at Lender's sole discrction.
<br /> —^^j� Upon pay�ent in full of all sums secured by this Security Instrument,L.ender shall ptomptly tefund ro Bortower any Funds
<br /> —°-°-�� - held by Lender.If,under para�aph 21,L.ender shall acquire or sell the Prnperty. Lender,prior to the acquisiaon or sale of ihe
<br /> ------ ,°j Property, shaU apply a��y Funds held by Lcnder at tha timc of acquisition or sale as a credit ag�inst the sums secured by this
<br /> - --�-� Securlty TnsRumen�
<br /> 3.Application of Fayments. Unless applicable law provides otherwise,all payments received by Lender ander paragraphs
<br /> � 1 and 2 shall be applied: first, to anY P�F�Yment charges due under the Note;second to nmounts payable under paragraph 2; _
<br /> - �-� '� third,to interest duc;fourth,t�principxl duc;and last,to any late charges due under the Note.
<br /> � 4.Charges;Ltens. Borrower shall pay all taxes, assessments, charges, f ines and imposidons uuributuble to the Propeny
<br /> which may attain prioriry over this Security Insuument,and leasehold payments or ground rents,if any.Bonower shall pay diese
<br />:!:V:�� obligaUOns in thv manner provided in p3ragraph 2,or if not paid in that manner,Borrower shall pay Ihem on time directly to Ihe -
<br /> "—°°°—°""'°!'� person owed paymenG Borrowe.r shall promptly furnish to Lender all nodccs of amounts to be paid under this paragraph.If �
<br /> �.�;;�,] Borrower mlkes these payments directly,Boirower shall prompdy furnish to Lender receipts evidencing the payments.
<br /> Borrowes shall prompdy dischargc az�y lien which has priority over this Security Instrument unless Borrower:(a)agrees in
<br /> `'��� wriang to the payment of the obligation�ecured by thc lien in a manne�acceptable to Lcnder;(b)contests in good faith the Gen
<br /> ._:-:`�n�-- � by, or defends against enforcement of the lien in, leg�l proceedings which in the Lender's opinion operate W prevent th�
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<br /> -.:-,...� e�iforcement of the lien;or(c) secures from thc holder of thc lien an agreement satisfactory to Lender subortinating the lien tn
<br /> "`��•`����ry this Security Insmiment.If Lender determincs that any parc of the Property is subject to a lien which may auain priority ovcr ihis
<br /> — =�-'~�;�^:.. � Security Instrumcnt,Lender may�ivc Borro�ver a nouce identifying the lien.Borrowcr shall sadsfy thc lien or take ane or morc
<br /> ~='•^"�<.' of the acdons set forth ubove within lU days ot'the giving of nouce. -
<br /> _ _„�; ; Form 3028 8180 =
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