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<br /> •� � TOGE7'HER WITH at!the improvements now or heteafter ererted oa the properry.and all easemenu,appurtenances.and � .. , � "
<br /> � � : . � fixtures now or hereafter a part of the property. AIl replaceraeau and addi[ions shall also be covered by this Secarity . . • y . ,
<br /> � � Instrument.All of the foregoing is referred to in this Security Instrument as che'Property." , ' . � '
<br /> ' . , • BORROWER COVENANTS that Borrower is tawfiilly seised of the estate hereby conveyed and has the rig6t to grant and _ - . -_ ' _
<br /> -:,-� convey the Property aad th�the Progerty is unencumbeced,except for eacumbrences of record. Borrower warrants and will � __ -_ =
<br /> ' ` ...;.�., defend generally the titte to the Property agaiast all claims and demands.subject to any encumbrances of record_ , •- . <.
<br /> . THIS SECURITY INSTRLTMENT combines imiforai covetLwts for national use and non-nniform cavenanu with limited .' • .
<br /> ' . • variations by jurisdisrion to coastitute a uniform securiry iasnumeat oovering real pmperty. •- - . - �
<br /> � UNIFORM COVENANTS.Borrower and Leuder oovenant and agree as follows: _� : �'
<br />' � : 1. Payment of Prindpal and Interest; Prepayment aad Late Ct�arges. Borrower shall pmmptly pay when due the , ,;.
<br /> < prIncipal of and interest on the debt evidenced by the Note�d any prepayment and late charges due under the Note. � ' . �
<br /> ' _ � • Z. Fands for Tases aad Ins�rance.Subject to appiicabte law or ro a written waiver by Lender, Bonower shall pay to , � <:.1'� � '
<br /> , �, • � Lender on the day monthlY Payments are due under the Nate.until the Note is paid in fWl,a svm("Funds")for:(a)yearly taxes � . �� �:,.'�jh�:
<br /> and asse.ssmenu wlrich may attain priority over this Securiry Instrument as a lien on the Prnperty; (i�)Yearly teasehold paymenu �. -� :.'n .��;��:'�
<br /> � = or ground rents on the Pmperty,if any:(c)Yearly ha7ard or property insurance premiums;(�Yearly flood insurance premiums, . _�;'�•r:.°,-,
<br /> 'f if any;(e)Yearly mortgagc i�_uance�-emiums if �uy;an� (fl anY sums PaYable by Borrower to Lender, in accordance vrith • ;� -_--
<br /> '� the pmvisions of paragraph 8,in lieu of the payment of mungage insurance premiums. These items are called"Escrow Items.' _;.;�;,.:�_
<br /> ; � Lender may, at a�+time, collect and hold Funds in an amount not to exceed the maximum amount a lender for a federaliy • . ,���•_--:
<br /> � . `�� related mortgage loan may require for Borrower's escrow awount onder the federal Real Estate Settlement Procedwes Act of • �-s.;
<br /> . � 1974 as amended from time w time, 12 U.S.C.Section 26d1 et seg. ("RESPA'),unless another law that applies to the Funds "� '
<br /> � sets a lesser amount. If so. Lender may, u any time,collecc and hold Funds in an amouat not to exceed the lesser amount. �"" -
<br /> � .S I.ender may esdmate the aznount of Funds due on the basis of current data and Teasonable estimates of expendimres of future . . �'�""-V
<br /> ,. � .. .�' Escrow Items or otherarise in accordance with applicable law. � . ��y.�-�
<br /> . The Funds shalt be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity ���'�.�
<br /> . � � (including Lender,if Leader is such an institution)or in any Federal Home Loan Bank. I.eader shall apply the Funds to pay the �• .,��-�� _;s;�f
<br /> Esccow[tems.Lender way not charge Borrower for hoiding and applying the Funds,annually anatyzing the escrow acco�mt.or . ,�=•-��
<br /> . . . verifying the Escrow Items,unless Lender pays Borr�wer interest on the Funds and applicab2e law perwits Lender to make such � �`'�=='!��
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<br /> - ''�� a chazge. However.Lender may require Borrower to pay a one-tirrte cbarge for an indepeadent real estate tax reporting service '``"{`� �'�—"�'�'
<br /> � used by Lender in connection with this loan, unless applicable law provides atherwise. Unless an ageement is made or
<br /> ::,:' :---
<br /> ' applicable law requires interest to be paid,Lender shall not be re�ired to pay Bonower any interest or earniags on the Funds. � �'� ;�;;;,___
<br /> . . Borrower and Lender may agree in writing,however,that inter�st shall be paid on the Funds.Lendec shall give to Bonower. � '`r'�" .--���
<br />� • , without eLarge,an a�ual accounting of the Funds,showing crediu and debiu to the Fnnds and the purpose for whicb each . � - _
<br /> � debit to the Funds aas made.The Funds are pledged as additional secnrity for all sums secured by tl�is Security Instrument. '
<br /> • • � If the Funds held by Lender exceed the amounts percnitted to be held by applicable law,Lender sha11 account to Borrawer �'�,�„�,,�,
<br /> ' • for the excess Funds in accordanse with the requirements of applicable law. If the amount of the Funds held by Leader at any '�;`�.f:
<br /> ` � . • . time is not sufficient to pay the Escrow Items when due.I.ender may so notify Borrower in writing,and,in such case Boaower " �'•� -
<br /> � shall pay to Ixnder the aznount necessary to make up t1�e det"cc4ency. Borrower shall make ug the deficiency in no more than ���:'r'��:�,�.-�'�:--
<br /> �r.:.,
<br /> . ' twelve monttily paymeats,at Lender's sole discreaon. • � . _����.
<br /> Upon payment in full of aIl sums secured by �h�s Security Instrument. Lender sha}I promptly refund co Borrower any - =`_-
<br /> , Funds held by l.ender.If,under paragraph 21,Lender shall acquire or sell the Property, I.ender,prior to the acquisicion or sale . �
<br /> �� ' . of the Property,shall apply any Funds held by Lender at the time of acquisirion or sale as a credit against the sums secvred by . ' r �� ==°�=�---.
<br /> �, ' this Securtry Iastrument. . --�_
<br /> �:;' 3.ApplIcation of Peyments.Unless applicable law provides othenvise,all paymenu received by Lender under paragraphs • � .-
<br /> _ . 1 and 2 shall be applied:first,to any prepayment chuges due under the Note;second. to amounu payable under paragraph 2; �. � •
<br /> , third,to interest due;fowth,to principal due:and last,to any late charges due under the Note. � '
<br /> 4.Charges;Ltenv.Borrower s�all pay all taaes,assessments. charges. fines and impositions attributable to the Property � • ' :
<br /> which may attain prioriry over this Security Instrament. and leasehold payments or ground rents, if any. Borrower shall pay , ''��
<br />- these obligations in the manner provided in paragraph 2.or if not paid in that manner,Bonower shall pay them on time directly '
<br /> to the person owed payment. Borrower shall prompdy fumish to Lender all nodces of amounts to be paid under this Paragraph. '
<br /> _ � If Borrower makes these payments directly,Borrower shall promptly fumish to Lender receipts evidencing the payments. . �. •• , �
<br /> � Borrower shall promptly discharge any lien which has priority over this Security insttument unless Bonower: (a)agrees in �
<br /> writing to[he payment of the obligation secured by the lien in a manner acceptable to Lender;(b)contests in good faith the iien . . �
<br /> . by. ot defends against enforcement of the lien in, legal proceedings which in the l.ender's opinion operate to prevent the � ��
<br /> • enforcement of the lien:or(c)secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to , .��
<br /> . this Security Instrument.lf Lender determines that any part of the Property is subject to a lien which may attain priority over � •
<br /> this Security Instrument.Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take onc or . .. ,
<br /> , more of the actions set fonh above within 10 days of the giving of notice. • .
<br /> ! form 302 9i9Jb � �� •
<br /> . ���BRtNEI�s��s�.o+ vaso 2 oi s ������ Cy
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