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<br /> ' • � � TOGEI'HER WITH all the improvements now or hereaft�(�1'eeT"ed an the property, and sll easements. ,
<br />�. appurtenances,and fistures now or hereafter a part of the property;All replacements and additions shall also be covered
<br /> �, �. , by this Security Instrumen�Alt of the toregosng is reterred to�n th�s Security Instrumentas the"Property.' ,
<br /> BORROW�R COVENANTS that BorroNer is lawfntly seised o4 the estate hereby conveyed and has the right to ,
<br /> � grant and oonvey the Pmperty and that the Property is uneacumbeted,except for encumbrances o4 record. Borrocver , ' ; `�. . �
<br /> . � � warrants and will defend generally the title to the Property against all claims and demands.subject to any encumbrances t�
<br /> , of record. i � . � . .
<br /> THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants wich } •___ _ _-_c:.
<br /> . - . limited vatiations by jurisdiction to constitute a uniform sec�usity instrument covering real propercy. � . ' _'
<br /> , li I�JIFORM COVENANTS.Borrower and Lender covenant and agree as folioas ;
<br /> ` 1.Payment of Principal aad lnterest;Prepayment and Late Charges.Borrowe�'shall promptly pay when due i���` � : � ;r. ..
<br /> ` the prencipal of asid interest on the debt evidenced by the Note and any ptepayment and Iate charges due under the Note. , � = .
<br />_ ' • 2. Funds for Tases aad Insutance.Subject to applicable law or to a writ4en waiver by Lender,Borrower shall � : _ ��� ;
<br /> pay to Lerider on the day monthiy payments are due under the Note.until the Note is paid in fuil,a sum("Fun��i
<br /> ' (a)yearly tases and assessn►ents which may attain priority over this Security Instrument as a lien on the Pro . b . .;� ,. �'_
<br /> . yearly leasehold payments or groun d rents on t he P r op e rt y,i f a n y;(c)Y e a r l y h a z a r d o r p r o p e t t y i n s u r a n c e p r e m i u m s. .:, :� ,.
<br /> . ,,.,.��,,_.:
<br /> � (d)yearly flood insurance premiums,if any;(e)yearly mostgage insurance premiums.if any;sud(f)any sums payuble �. �...,- -t
<br /> � ' by Borrower to Lender,in accordance with the provisions of paragraph 8,in lieu of the payment of mortgage insurance • .;-;��r-
<br /> � premiums.These items are cailed"Escroa Items."Lender may.at any time,collect and hold Funds in an amount not � °
<br /> � to eaceed the maaimum amouat a lender 4or a federally relatsd mortgage loan may require for Horcower's escrow `_
<br /> account uader the federal Real Fstate Settlement Pracedures Act of 1974 as amended fmm time to time, 12 U.S.C. �,,
<br /> �. - Section 2601 et seq. �°�pa"�.u���other law that applies to the Funds sets a tesser amoun�If so,Lender may, - .�'�•�I`�
<br /> '' at any time,wllect and hold Funds in an amount not to eaceEd the lesser amount.Lender may estimate the amount of �;�-,�?��.,
<br />' ` ' � Funds due on the hasis o4 current date and reasonable estimatas of esgendiEures of fuwte Escraw Itemsor otherwise in ����`W
<br /> •'���:
<br /> - . accordance with applicable law. .-.-.---� �.-.
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<br />� • ' The Funds shall be held in an institution whose deposits are insured by a federal a encq.inatn3mentality.or entity .. � �?'�
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<br /> � (including Lender,if Lendet is such an institution)or in any Pederal Home Laan Banit.Lender shall apply the Funds to ; _;,;`�:
<br /> � pay the Escrow Itema Lender may not charge Bonower for holding and applying the Funds,annually analyzing the � ;;:=.'
<br /> ' ' escrow account,ar verifying the Fscrow Items,unless Lendet paya Borrower interest on the Punds and applicable law .:. ' 4 �-
<br /> ' � � � permits Lender to malce such a charge. However. Lender may rec{uire Borcower w pay a oste-time charge for an ,� r .=.;.';'�, �?�=
<br /> - independent real estate tas reporting service used by Lender in connection with this loan,unless applicable law provides .. . -. �`��~
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<br /> ' � � � ; otherwise.U n less an agceemen t is ma de or a p p l i c a b l e l a w r e q u i r e s i n t e r e s t w b e p a i d 1-e r►d e r s h a l l n o t b e r e q u i r e d t o , ��'°"'' '�'
<br /> ; ,..:..y. .
<br /> thatinterest .��'•��._� :
<br /> ' ,.��; pay BorroNer any intetest or earnings on the F�unds.Bonower and Lendet may agree in writing,however, � r r �
<br /> , .: � shall be paid on the Funds.Lender shall give to Borrower.�vithout charge,an annual accounting of the Futtds.sho�ving � `'.'�;'�'.�ai-
<br /> �,' ' crediu and debits to the Funds and the purpose fos which each debit to the Funds was made.The Funds are pledged as • '.���-+�-
<br /> �', -�'.�::.J�:.
<br /> ' � additional security for all sums secured by this Security Instrument. •� ��' �,.'�:
<br /> � If the Funds held by Lender esceed the amounts pesmitted to be held by applicable law,Lender shall account to .. . ,. � �'":'-
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<br /> � Borrower for the escess Funds in accordance nith the requirementa of applicable]aw.If the amount of the Funds held , ����V'
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<br /> • by Lender at any time is not sufficient to pay the Fscrow Items when due,Lender may so notify Bortower in wtiting, . "-;.��!,:
<br /> •• ' and,in such case Bonoarer shall pay to Lender the amount necessary w make up the de�cieney.Bonower shall make . ._��.._:
<br /> '._ up the de�ciency in no more than twelve monthly payments,at Lender s sole discretion. ' ' `'r_�
<br /> _ � � Upon payment in full of all suma secured by this Se�urity lnstrument,Lender shall promptly refund to Borrower `�-,;.f..
<br /> ; any Funds held by Lender. Ii, under paragraph 21, Lender shall acquire or sell the Property. Lender,prior to the . , :'��.����
<br /> acquisition or sale of the Property.shall apply any Funds held by Lender at the time of acquisition or sale as a credit , ".'�s���
<br /> ., against the sums secured by this Security Instrumen� . "� ''����
<br /> �.
<br /> 3. Application of Payments.Uriless applicable law provides otherwise,all payments received by Lender under ��
<br /> • paragraphs 1 and 2 shall be applied:first,to any prepayment charges due under the Note;second,to amounts paqable : ;;,;,,
<br /> � � under paragraph 2:third,to interest due;fourth.to princ�pal due;and last.to any late charges due under the Note. � _ -•..
<br /> � � 4. Charges; Liens. Borrower ahaU pay all taxes,assessments, charges,fines and impasitions attrihutable to the �.�;,.,_,_�.
<br /> ' Property which may attain priority over this Security Instrument, and leasehold payments or ground rents,if any. ,,
<br /> � � Borrower shall pay these obligations in the manner provideii in paragraph 2,or if not paid in that manner, Bosrower . . _ :._.f,`,:. :_
<br /> .�;� � shaU pay them on time directly to the pesson owed payment.Borrower shaU promptly furaish to Lender aU notices of . �
<br /> amounts to be paid under this paragraph.lf Borrower makes these payments directly,Honower shall promptly furnish . �' �'
<br /> ..� . � �� to Lender receipts evidencing the payments. . ',
<br /> � � � , Borrower shall promptly discharge any lien which has psiority over thia Security Insttument unless Borrower. (a) . ,
<br /> � � agrees in writing to the payment of the obligation secured by the lier�in a manner acceptable to Lender;(b)contests in � '
<br /> . � good faith the lien by.or defends against enforcement af the lien in,legal proceEdings which in the L�►der's opinion . . •
<br /> � } operate to prevent the enforcement of the lien;or (c)secures from the holder of the lien an agreement satisPactory to
<br /> i Lender subordinating the lien to this Security Instrument,lf Lender determines that any patt oi the Property is aubject .
<br /> "� ! to a lien which may attain priority over this Security Instrument,Lender may give Borrower a notice identifying the .
<br />-�•'.'� , 1ien. Borrower shall satisfy the lien or taka one or more of the actions set fosth above within 10 days ot the giving ot .
<br /> notice. � .
<br /> :`� � Form 302 /9Q� . ..
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