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<br /> ,� .�( I < , �` , TOGETHER Vfl�'fH all the impmvements uow or herzafter erected on[he prnperty.and all ea4ements.aPPurtenances.and _� . ,
<br /> � � �1 fintures aow or hereafter a part of the pmperty. AI3 replacemeau aad additions shall also be oovered by this Security • - `
<br /> ` j Insnument.All of the fo:egoing is referred to is►tbis Security Instrument as the'Ptoperty.' �, � � . . .. .
<br /> `-�� BORROWER COVENANTS Ehat Borrower is lawfully seised of the estate hereby coaveyed aad has the right to gran[and :
<br /> ..—'`-`��' convey the Property and Wat the Propecty is unenaunbecpd. exc�t for encumbrances of record. Eomnwer warcanu and will .- -. -�
<br /> � . . defend geaerally the titte to the Properry agaiast all claims and demands,subjecx to any eaaimbsaaces of record. • ..:t
<br /> - . ' THIS SECURI'fY INSTRUMENT oombiaes uniform covenauts for national use and non-uniform covenants with limited � � :
<br /> ' � �• variations by jurisdidioa to oons6tute a uaifoim security insvument covering real PmP�Y- ° '.°'
<br /> � UNIFORM COVENANTS.Borrower aad Lender covenaat and agtiee as follows: :: ��'s:.,. • --
<br /> � �. 1. Paymeat of Friadpal aad InRerest; PcePayment and Late CLa�ges. Bormwer shall promP�Y PaY whep due the . .,�`'.;:
<br /> ., principal of aad interest on the debt evidenced by the Note and anY P�Payment and late c h a rges d ue u n der t h e No t e. �-�.a� ;
<br />. � ' � 2.Fimds for Taxes and Insorance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to .,, ti�
<br /> , • Lender on the day montlily payments are due under the Note,until the Note is paid in full,a sum('Funds")for.(a)Yeaz1Y taxes �. ��',">� c':,
<br /> - - and assessments which may attain priority over this Security Instroment as a li�on the Ptoperty;(b)Yearly leasehold paymenu ,f�_��-
<br /> - - . . . or gcound reats on the Pmpeny,if anY;(a)Year�Y hazard or piaperty insnrance premiums;(d)Yeazly flood t�cnranc�plemivlaS, � ,�m-.�,,..
<br /> . ' ' : if any;(e)Y�Y�T�Se iasurance premiwns,if any:and (fl�Y�PaYable by Borrower to Lender,in accordance with .
<br /> . ..: - the provisioas of paragraph 8,in tien of the payment of mortgage incurance piemiwns.These items are called"Fscr°w nems.' .. —
<br /> . ' � - l.ender may,at any time, collect and hold Funds in an azaount not to exceed the maximum amount a Lender for a federalty . �;.,�;, :_
<br /> . . . '= , �+: related morcgage loaa may require for Bosrower's escrow account under the federal Real Estate Settlement Procedures Acc of •, ,�_
<br /> � . -' 1994 as amended from dme to time, 12 U.S.C. Section 2601 a seq. ("RFSPA'),unless another law that applies to the Funds ,`'..— r�`. ..��
<br /> '.;:�°'�::.:` I.ender may.at azry time, callect and hold Funds in an amount not to exc,eed the lesser amount. � : '��F—�"
<br /> _ :1::;,�rs sets a Iesser amount. If so, .. . �
<br /> _ f`•� Q Lender may esumate the amount of Funds due oa the basis of current data and neasonable estimates of expend'itures of future . � �'=�--
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<br /> ' . `��:�' Escmw Items or otheivvise in accordance a+ith aPplicab2e law. �
<br /> _ .. .. . :C T�e Funds shari be held in aa instinrtioa whose deposits are iasured by a federal agency, instrumentaliry, or entity '.',:��`A;:.�':r'`":.
<br /> . .� �.� (including Lender,if Lxnder is such aa institution)or in any Fedecal Home Loan Bank.Lender shall apply the Funds to pay the :,;_: .��'
<br /> - Escrow Itetns.Lender may aot charge Borrower for hold'mg and applying the Funds,annually analyzinS the escr°w account,or : �.�d..
<br /> . , ..� verifying the Fsccow Items,witess Lender pays Borrower interesc on the Funds and applicable law permiu Ixnder to mak�e such ` `;.`:..' ��"'�'`
<br /> � ' a charge.However,L�ender may require Bormq+er to Pay a one-time charge for an independent real estate tax reportin8 service f.F'`�'
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<br /> _n` , ' �� used by LeadeT in conae�tioD with tb�s loaa. unless applicable law pmvides otherarise. Unless an agreement is made or S,�a._
<br /> �' applicable law requires interest to be paid,Lender shall not be required to pay Borrower any interest or eamings oa the Funds. : ,,s,�.�,�;:�
<br /> � Borrower and I.ender may agree in writing,however. that interest shali be patd on the Funds. Lend:r shall give to Borrower, .,'.°F,;r:�
<br /> . � ' arithout charge, an annual accoontinS of the Funds, shoaring credits and debits to the Funds and the purpose for which each . �,��'"����'`
<br /> � _ debit to the Funds was made.T6e Funds are pledged as additional sec.vriry for all sums secured by this Secutity Insuument. ����
<br /> �� If the Funds held by Lender eaceed t6e amounu permitted to be held by applicable law,Lender shall account to Br}rrower •;':���.�
<br /> -,-.�;c�-
<br /> ' for the excess Funds in accordance with the reqnirements of applicable law. If the amount of the Funds held by I.ender at any ��r;.,.;
<br /> '•� � time is not sufficient to pay the Fscrow Items when due,Lender may so notify Borrower in wriring,and,in such case Borrower : ����:,��_,_
<br /> -_._: . .
<br /> � shall pay to Lender the amount necessary to make up ehe deficiency. Borrower shall make up the deficiency in no ma:e thaa '�+,;,�r:
<br /> twelve monthly payments.at Lender's sote disrredoa. . " y"'��
<br /> � �»�
<br /> : ' Upon payment in fiill of ali sums secured by this Security Iasuument, Lender shall promptty refund to Borrower any • , ;r}��-
<br /> � �. . . � Funds hetd by Lender.If,under paragraph 21.l.ender sball acguire or sell the Property.Lender,prior to the acquisition or sate _: ..• �:
<br /> ; � of the Property.shall apply any Funds beld by Lender at the time of acquisition or sale as a credit against the sums secured by • •,•. . �.;.:�-
<br /> . this Securiry Insttument. .���,, ,.-. �
<br /> . ' . •�� 3.Appltcation of Yayments.9Jnless applicabte law provides otherwise.all payments received by I.ender under paragraphs ,, ..:. � ' .
<br /> �� NI_ �.. %
<br /> . . . ,f 1 and 2 shall be applied: first,to any prepayment charges due under the Note;secand.to aznounu payable under paragraph 2;
<br /> -- � third.to interest due;fourth,to principal due;and last.to any Inte chazges due under the Note. '. ,_��:
<br /> • ' � 4.C6arges;Lieng. Barrower shall pay all taxes.assessments.charges.fines and impositions attributable to the Property .. . . ,
<br /> whicb may attain priority over cbis Secvriry Instrument, and leasehold payments or ground reau. if any. Borrower sha11 pay
<br /> • � . � these obligations in the manner provided in paragraph 2,or if not paid in that mamter.Borrower shall pay them on time directly �
<br /> ; • . � to the person owed payment.Borrower shall promptly fumish to Lender all notices of amounts to be paid under this pazap,raph. .
<br /> ` . ! ]f Borrower makes these payments directly,Borrower sha11 promptly fumish to Lendet receipts evidencing the payments. . ,.
<br /> ��; �i Borrower shall promptly discharge any lien which has priority over this Securiry lnstrument unless Borrower:(a)agrees in . .
<br /> � 1 writing to the payment of the obligation secured by the lien in a manner acceptable to L.ender; (b)contesu in good faith the lien . .
<br /> � I by, or defends against enforcement of the lien in. legal proceedings which in the Lender's opinion operate to prevent the ,
<br /> .,� � ' � � enforcement of the tien;or(c)secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to •
<br /> this Security Instrument. If Lendet determines that any part of the Property is subject to a lien which may attain priariry over . ��'. ',:
<br /> this Security Instrument. Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or ,
<br /> more of the actions set forth above within 10 days of the giving of notice.
<br /> � ' � Form 302 �l�
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