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<br /> . . , P A rtY• urcenances.and � �..-"`:..
<br /> �� ° � TOGETHER WiTH aU the improvemenu aow or hereafter erected on the ro e and ati eacements.npp °
<br /> `� .�. .` 4 .• � fixtures now or hereafter a part of ttte property. All replaoements and additions shall also be oovered by tl�is Securiry : �.�� _
<br /> ._ ='_ . Instrument.Aq of the faregoing is referm�to in this Securiry i�saument as t6e"Propecty•"
<br /> �<�.': ,
<br /> • • ,;. '�- BORROWER.CO�lENANTS that Borrower is lawfully seised of the estate he�by convey e d an d h a s t h e ri g h t t o g r a n t a n d • i
<br /> - —=---- ���..u��. �� ��hra�cec nf secord. Borcower waxraats and wilE � ,`` ..
<br /> � �� canvey the Propeeey a�d�c ci�e Propc�ty �
<br /> defend generafiy the tide to the Property against a11 claims and demands.subject to any encumhrauces of cecond. �`.�:
<br /> �r V ` �" THIS SECURITY [NSiRUMENT combines unifarm rnvenanis for national use and non-uniform rnvenants with limited _
<br /> .` �� � 'v�;.:'�<, variations by jurisdiaian to caosumte a uniform s$curity�nsaument covering real psoperty. �. � :' ;. �_;
<br /> UNIFORM COVENANTS.Borrower and L.ender covenant and agree as follows: , . `
<br /> `� - l. Payment oY Prindpai and lntee+est; PrepaYment and i.ate Ch�. Bomawer shall promgdy pay when due the -;�� ,----
<br /> � e`• � grimipal of and interest on the detn evidenced by the Note aad ai►y prepaYment and late charges due under the Note. ; . :
<br /> � � 2.Funds ior Tuxes and InsuraQCe. Subject to applicable iav.or to a wriuen waiver by l.ender.Borrower st�c11 pay to : =� • . , _.<<,
<br /> - - -- � Lender on the day monthly payinenu are dae under the Note,e�ntil tbe Note is paid in full,a sum("Funds")for.(a)yearly taxes � _: _ _ _ `�.__:
<br /> ` '` � ' �' � � and assessments which may attain priority over this Security Instrument as a lien on the Property; (b)year(y leasehold payments
<br /> _ _ _ � ° :`.�.
<br /> .. . ' ,. ' or ground rents on the Praperty.if an3';(�)Yearly hazand or propercy insurance pcemiums:(d)Yearty tlood inswance premiums, � y; , ` ."'.._'
<br /> ;�_,-.
<br /> ;�� • • if any:(e)Yearly inortgage insurance premiums, if any.and(fl�Y sums payabte by Borrower to Lender.in accordance with ,._ = _
<br /> ., - ' ` the provisions of paragraph 8,in lieu of the payment of mortgage insurance premiums.These items are called"Escrow Items." , :•. ;�;-�,;�:�r.-.
<br /> �;�;. ,. . .
<br /> , _ � Ixnder may,at any time.collect and hotd Funds in an amount not to exceed the maximum amount a lender for a federaUy _ _ ; �__
<br /> �.`,•.':�,�--:
<br /> . � • V related mortgage loan may reqnire for Borrower's escrow accaunt under the federal Real Estate S�tl�meat Pmcedures Act of • ,
<br /> � 1974 as amended from time to time. 12 Q.S.C. SeEtion 2601 et seq.("RFSPA").unless another 3aw t6at applies to the Funds : i�� . , �.
<br /> • � sets a lesser amount. If so.Lender may. at any time. collect and hold Funds in an amount not to exceed the lesser amouni. � •• , --_
<br /> . ' , i,ender may estitaate ttce amonnt of Funds due on the basis of current data and reasonable estimates of expenditmes of future �; :';�;. - ___
<br /> F` Fscraw Items or otherwise in accordance with applicabte law. ,' --
<br /> instrumentali or en "'":�.; "%�
<br /> _ � 7Yie Funds si�all be hetd in an institution whose deposits are insured by a fedeial ageacy. �Y• �3 _ i __
<br />- � . .`. (inclading Lender,if l.ender is sach an institation)or in any Federal Iiome Loan Bank.Lender shall apply the Funds to pag e�e � i �-'
<br /> •',,:. Escrow Ite�ns. Lender may not charge Borrower for holding and applying the Funds.annually analyzing the escsow account,or ° --.-
<br /> � s•-:-
<br /> • .; verifying the Fscrow Items.unless l.ender pays Borrower interesc on the Funds and applicable law permiu Lender to make such � •.:� � �,F.,,_:;
<br /> . � a charge. However,Lender may require Borrower to pay a one-time charge for an independent real estate tax reparting service ��i`� '_�
<br /> :,;, ' ,�:,_��:
<br /> � - V. ,���' used by Lender in co�ection with this�loan, unless applicable law provides othera+ise. Untess an agreemem is made or ;� -.--°:".,�;��,
<br /> _ ' . .�.,,,��.° applicable law requires interest to be paid,l.ender shall nat be mquired to pay Borrower any interest or earnings on the Funds. ; : �.'- �
<br /> , • ; Bonower and I.ender may agree in writing.however.that uuerest shall be paid on the Funds. Lender shaU give to Borrower, "�'
<br /> �a �, ,- + ��` without chuge,an annual accounting of the Funds,sLowing credits and debiu to the Funds and the purpose for wt�ich each ., i�_
<br /> �- � � debit to the Funds was made.The Fands are pledged as additional securiry fur all sums secured by this Security IIr�saumenL �� ���=� -
<br /> ' � If the Funds held by i.ender exceed the amounts pernutted to be held by appGcable law.L.er�der shall account to Borroa•ar �:'�_
<br /> ' ` ,� far the excess Funcls in accordanse with the requirements of applicable law.If the amount of the Funds held by Lender at any , -.:..�.
<br />,r-��, � time is not sufficient to pay the Escrow Items when due,Lender may so notify Borrower in writing,and,in sach ca�e Borrower , -�
<br /> `' � shall pay to Lender the amount necessary to make up the deficiency. Borrawer shall make up the deficienry in no snore than "���, • _-
<br /> �.°: �� �� � twelve monthly payments,at Lender's sole discredon. . , . ��-°
<br /> • .' Upon payment in full of all sums secured by this Security Instrument, Leader shall prompdy refund to Borrower any ^_�,�;N=
<br /> Fuads heid by Le�der. If,under paragraph 21.Lender shaU acquire or sell the Properey.L.ender, prior to tUe acquuidon or sate •- _ .._.
<br /> ' . of the Property,shall apply any Funds held by Lender at the time of acquisiuon or sale as a credit against the sums secured try � ' ..�'�
<br /> � � � . this Securiry Instrument. • -
<br /> i•:': • " 3.Application of Payments.Unless applicabte law provides atherwise,all payments received by Lender uuder psiragruphs - . _
<br /> � �. '. ' I and 2 shall be applied:first. to any prepayment charges due under the Note; second.ta amounts payable under paragraph 2; - ...
<br /> ��' � ' third.to interest due;fourth.to principal due;and 1ast,to azry late charges due under the Note. . -
<br /> ' � � • � q,Charges;i,tens.Borrower shall pay all taxes, assessments.charges.fines and imposir•ans attributable to the Property . .:._'v--
<br /> f • — �:- which may attain prioriry over this Security Instrument.and leasehold payments or ground rents,if any. Bonower shali pay °�' -.
<br /> _" �� these obligations i�the manner provided in paragraph 2.or if not paid in that manner.Borrower shall pay them on time directly . � � • _
<br /> � � � to the person owed payment.Borrower shall prompt{y fumish to Lender ali notices of amounts to be paid under this paragraph. ,
<br /> ' � If Borrower makes these payments directly.Borrower shall promptly furnish to Lender receipts evidencing the payments.
<br /> :��� � � - �� Borrower shall promptly discharge any lien which has priority over this Security instrument unless Borrower.(a)agrees in
<br /> ' ' writing to the payment of the obligation secured by the lien in a manner acceptable to Lender:(b)cont�ts in good faith the lien
<br /> � by, or defends against enforcement of the lien in. Eegal praceedings which in the Lender s opinion operate to prevent the
<br /> ' �� � • - enforcement of the lien:or(c>secures from the holder of the Iicn an agreement satisfaMory to Lender subordinating the lien to . •
<br /> � • this Securiry Instrument. lf�ender detcrmines that any part of the Property is subject to a lien which may attain priorlty over •
<br /> � this Security lnstrument,l.ender may give Borrower a notice identiFying thc lien.Borrower shall satisfy the lien or take on:or �
<br /> � more of the actions set fortb above within 10 days of d;e giving of notice.
<br /> � • Form 3028 9l90 � . � . �
<br /> .' � Paqo 4 0}0 . .
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