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<br /> '. � TpGETHER WITH all the improvements now or hereafter erected on tt►e property.an 1 easements.aPPurtenances.and : �.ti .
<br /> 4 • fixtures now or hereafter a part of the property. Ap replacemenu and additions shall also be covered by this Se�urity
<br /> • ' �'� Instrumeat.AU of the foregoing is referred to in this Security Instnunent as the"Pr°Pert3'•" -
<br /> �� BORROWER COVENANTS that Borrower is tawfully seised of the estate hereby rnnveyed and has the right to grant and ;: . ,;:`
<br /> . --� convey the Property and that the Property is unencumbered,except for encumbrances of record. Borrower waaants and wiU � ..:` ,c':.r,�,. ��� �
<br /> �--=�� defend generally the ade to the Property agaiast all claims and demands.subject to any encumbrances of recorcl. . ,; '-
<br /> � � ,� THIS SECURITY 1NSTRUMENT combines uniform covenants for nationat use and non-uniform covenanu with limited : . _�
<br /> ' ' ' variations by jurisdicaon to consdtute a uniform security instrument covering real property. °, t '•` ` ` .
<br /> ' , � � UMFORM COVENANTS.Borrowes and Lender covenant and agree as foltows: . • , -
<br /> -_�; 1. Payment of Principa!and I a t e r e s t: P r ePaYm w!a n d L a t e C 6 a r g e s. B o r r o w e r s h a l l p r o m p t l Y P a Y w h en due the `:,.. � ;� `.,�`
<br /> • , �=� principal of and intemst on the debt evidenced by the Note and any prepaYment and late charges due under the Note. � � :.
<br /> ' •' � 2.Fnnds for Taxes and Insurance. Subject to applicabte law or to a written waiver by Lender. Borrower shall pay to � ( ,,t, _-`
<br /> . �• _ : `; Lsnder on the day monthly payments are due under the Note,until the Note is paid in full,a sum("Funds")for.(a)yeariy taxes i . _
<br /> and�ssessmenu which may auain priority over this Security Insuument as a lien on the Property:(b)Y�*IY leasehald paymeuts }�,,r t ° _ .-
<br /> ;°:i or graund renu on the Properry.if any:(c)Year1Y hazard or property insurance premiums:(d)YearlY flood insurance premiums, '. ,,�';,.�c�' ,T:-
<br /> able b Borrower to Lender, in accordance with .:`�°� -� F
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<br /> tr, ., �`•"• if any:(e)YeartY mortgage insurance premiums. if any:and lfl az►Y 5�PaY Y ;,"'��;;�-��:;, ��a.
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<br />�3:; .. ,'. � � ' ) the provisions of Paragraph 8,in lieu of the payment of mortgage insurance premiums.1'hese items are calted"Fscr°w Items. ,...:.,;;;;�: —_
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<br /> ' ;. , . Lender may, at any[im�• collect and hold Funds in an amount not to exceed the maximum amount a tender for a fedeialty __ _
<br /> .�'..;.f�'�! related mortgage loan may require for Bormwer's escrow accourt under the federa! Real F.state Settlement Prooednt�s Act of _';.�,,:_._.
<br />._` .t• � ; 1974 as amended from time to time. 12 U.S.C. Section 2601 et seq. t"RESPA"),unless another law that applies to the Funds �,� �. �-�;
<br /> � � --' seu a lesser amount. if sa. Lender may. at any time, collect and hotd Funds in a�amount not to exceed tfte lesser amount. � -���-�
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<br /> Lereder may estimate the amount uf Funds due on the basis of current data and reas�nable estimates of expenditures of future Y �..
<br /> • :•�•� Escrow Items or otherwise in accardance with applicable law. � �'�_ -
<br /> - � = '= The Funds shall be held in an institution whose deposit�s are insured by a federal agency. instrumentality, or entity . .
<br /> .�i`,:-::•,,:,,.,
<br /> -- � -� �,? (including L.ender. if l.ender is such an institution)or in any Federal Home[.oan Bank.Lender shalt apply the Funds to pay che M •:��.:-r�.-;«
<br /> � � � • Escrow Items.L.ender may not charge Borrower for halding and applying the Funds,annually analyzing the escrow accautu.or
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<br /> .' . � verifying the Escrow Item+,unle+s I.ender pays&►rsower intere5t on the Funds and applicabte law permits Lender to make such ,d��
<br /> � a charge. However,Lender�i�uy require Borreswcr[o pay a one-time charge fi�r an independent real estate[ax reporting service ,:''•��►�.-:'��.��=`
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<br />-` used by [.ender in connection with this laan, unless applicable law providec rnhenvisr. Unless an agreement is made or ,;,.q,�.,.
<br /> . • "' applicable law requires interest to be paid.L.cnder shall not be rcyuirec3 to pay Borrowcr any intetest or eamings on the Funds. �. "{�_°—_�=
<br /> � � Borrower and Lender may agree in writing.however.that intcre+t shall be paid cm the Funds. l.ender shall give to Borrower. . _ ,,`_��,
<br />. . � without charge, an annual accounting of the FunJs, tihowing credit+ anJ debits w the Funds and the purpose for which each � �-._�:,
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<br /> -� ' debit to the Funds wa�made.The Funds are pledged a5 additional security for all sumti secured by this Security Instrumeat. :�,;��„
<br />• _..._ .._.___ If the Funds held by l.ender exceed the amounts permitted w be held by applicable law.Lender shall account to Borrower . ___
<br /> for the excess Funds in accordance with the requirements of applicable law. If the amount af the Funds held by Lender at any � �';� ` :.�-.
<br /> � time is not sufficient ta pay the Escrow Items when due.Lender may so notify Borrower in writing,and,in such case Borrower . . �«�`4 r��t;,_
<br /> � � shall pay to Lender the amount necessary to mal:e up the deficiency. Borrower shall make up the deficiency in no more than `;_,=:__
<br /> - � twelve monthly payments,at Lendf:r's sole discretian. .. • ��'`�``
<br /> • � Upan payment in fuU of all sums secured by this Security Instrument. Lender shall promptly refund co Borrower any •;�---
<br /> � • Funds held by Lender. If,under paragraph 21.Lendcr�hall acquire or sell the Property. Lender,prior to the acquisition or sale .
<br /> ' ' of the Propeny.shall apply any Funds held by Lender at the time of acquisition ar sale as a credit against the sums securad by � ��
<br /> . ' - .��..
<br /> :,� ;. this Security Instrument. =
<br /> � � "� 3.Apptication ot Pay�nents. Unless applicable law provides otherwise.all payments received by l.ender under paragraphs ..
<br /> - • '`. I and 2 shall be applied: first,to any prepayment charges due under the Note: second,to amounts payable under paragraph 2: , ___
<br />- � � °' third,to interest due: fourth,to principal due:and last.to any late charges due under the Note.
<br /> , 4.Charges; Lteng. Borrowcr�hail pay all taxcs.assessments, charges, fines and impos�tions aitri buta b le to t he P r o p e r ty
<br /> _ � , .� which may attain priority over this Security lnstrument, and leasehald payments or ground rents. if any. Borrower shall pay
<br /> . thcse obligations in the manner providcci in paragruph 2.or if not paid in that manner.Borrower shall pay them on time directly
<br /> � � to the person nwcd payment. Borrower shall promptly fumish to L.cnder all notices of amoun�ti ta be paid under this paragraph. .. , :�_
<br /> . .'; If Horcower makes thesc paymcnts directly.Borrower shall promptly fumish to l.ender rcceipts tvidencing ihe payments. ...
<br /> " '' Barre�wer shall promptly discharge any lien wbich has priority over this Security Instrument unless Borrower. (a)agrees in : .
<br /> �� writing tn the payment of the ubligstinn secureAl hy the lien in a manner acceptable to I.ender:(b)eantests in good faith the lien . . ; .
<br /> � ' �� by. or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the
<br /> � � enforcement c�f the lien:or Ic)secures frnm the halder of'the lien un agreement satisfactory te�Lender�ubordinating the lien to ,
<br /> � this Security Instrument. If l.ender determineti that any part��f the Property i�sub}cct tu a lien which may attain priority over
<br /> . �. this Sccurity Instrumcnt. l.cndcr may givc Borrower a noticc identifying thc licn. Burrower tihall satisfy the lien ar take ons or
<br /> marc of thc actions sct forth abuvc within Ib day�of thc giving of nutice.
<br /> � � Po�m 3028 9190 • .
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