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<br /> � � � TOGETHER WITH all the improvemenu now or hereaf[er erected on the pmperty.and all easemenu,apPurtenances,and _ `<: �
<br /> ', fixtures now or hereafter a part of the property. All replacements and additions shall also be oovered by this Securiry , .
<br /> �' ' Insnument.All of the foregoing is referred to in this Seauiry Instroment as the'Pcoperty." ' •..�, '-,
<br /> .�. ` ' . -- BURROVUER COVENAN7'S tlu�t Bormwer is lawfully seised of the estate hereby conveyed and Gas the right[o grant and � `,• ��` • �
<br /> �f.: � _ , . .
<br /> _- . �.-.=.` ` convey the Property and that the Property is unencumbered. except for encumbrances of record. Borrower warrants and w11
<br /> • defend generally the tide w the Propert}r againsK all claims and demands,subjecc to any encumbrances of record. �� --� `
<br /> ` "-` -- TyIS SECURT['y II�TSTItUMENT combines uniform oovenants for national use and non-aniform covenaats with limited --
<br /> �� •, , variatioas by jurisdicaon to constimte a uniform securiry insmimeat covering real property. , � '
<br /> • • � t3NffORM COVENANTS.Borrower aad Lender covenant and agree as foUows: , '
<br /> �-; . � 1. Fayment of Yrtndpal and Interes��iepayme�and Late Charges. Bomnwer shall promptly pay whea due the ,. , •
<br /> •" principal of and'mterest on the debt evidenced by ihe Note and any prepaymeat and late charges due under the IVote. -. . ' •
<br /> f c.
<br /> f; 2.F�mds for Taxes and Insmance.Subject to applicable law or co a wrhten waiver Iry Lender, Borrower shall pay co , , . �
<br /> t` .. . < Lender on the day montlilY Payments aie due under the Note,until the Note is paid in full.a sum('Fvnds')for:(a)yearlY taxes • . ` ,-`°
<br /> `.-� , and assessments wluch may attain prioriry over this Security Insuament as a lien on the Ptoperty;(b)Year1Y leasehold payments , . ; ��"�_
<br /> -� � . . ' . or ground cents on the Property,if any;(c?Y�Y hazard or property instuancx gremiums;(d)Yearly ttood insuiance pretniums, :-� ;,_,��.
<br />-�i�. � if aay;(e)Yeazly mortgage inswance premiums,if aay;and(�anY snms Payable by Borrower to Lender. in accordance with � ' _
<br /> i: • . " the provisions of paragraph S,in lieu of the payment of morrgage ins�*an�piemiums.These items arc called°Escmw Items." � _---
<br /> .�.`• � ` • Lender may� at any time, coltect and hald Funds in an amannt not to exceed the maximum amo�mt a lender for a federally �• � ' _
<br /> . ' related mor[gage loan may require for Borrower's escmw account under the federal Real Estate Seuleulent Procedures Act of .
<br /> "``, . 1974 as ameaded from time to time, 12 U.S.C.Seaion 2601 d seq. ('RESPA"),unless another law that applies to the F� �•: , :��`y
<br />-�.: , .'� i•.—_.
<br /> -- : , .` ". sets a tesser amovnt. If so,I.ender may,at a�r time, collect a�ad hold Ftmds in an amount not to exceed the Iesser amount. ••r- - ___
<br />-'`� � `' � �' Lender may estimate the amount of Funds du�on the basis of cuaent data and reasonable estimates of expenditures of fuwrc -- ``•.,h'_=-
<br /> `' ..: I-�' Escrow Items or otherarise in ac�cordance with applicable law. „ i r
<br /> ' �'`�'�:�:<.-r.
<br /> • ' � i The Funds st�all be held in an institurion whose deposits aze insured by a federal agency, instrumentality, or eatity , �t. -..,_
<br /> ll
<br /> ..,,i���
<br /> ' -. ,.. .. ;.: (including Lender,if Lender is such an instimtion)or in any Federal Home Loan Bank.Lender shall apply the Funds to pay the
<br /> • : �.� - ? Escrow Items.Lender may not charge Borrower for hotding and applying the Funds,aimaaUy analyzing the escrow axount,or . .:•.:�'-"`-
<br /> ` � . ;� venfying the Fscrow Icems,untess l.eader pays Bortower interest oa the Funds and applicable law permits Lender to malce such �";,.'a-=_=---
<br /> � � � a chatge.However,Lender may require Borrower to pay a one-time charge for an independent real estate tax reporting service �,.;:;-;��:„
<br /> , . . , �s used by I.ender in conneaion with this loan. unless applicable law provides otiterwise. Ualess an agreeme�tt is made or , � �—
<br /> • � applIcable law requires interest to be paid.Lender sball not be required to pay Borrower aay interest or earnings on the Fuads. . • 1� -
<br /> . . � , ' Borrower aad I.ender may agree in writing,however,that interest sl�all be paid on the Funds.Lender shall give to Bormwer, ,;",:,•7+-�,_,
<br /> " without charge. an annuai aocounting of the Funds,showlag crediu and debits co the Funds and the purpose for wluch each ' � �'�
<br /> �` .�. � � debit to the Fuuds was ma�e.The Funds are ptedged as addiaonal security for all s�ms secared by this Secafiry Insaument. • �•��`:'�
<br /> If the Funds held by Lender exceed the amounts permitted to be held by applicable law,I.ender shaU acxount to Borrower .:�c
<br /> �� � ` for the excess Funds in accordaace wich the requirements of applicable law. If the amount of the Funds held by Lender at any . • -
<br /> h
<br /> � , time is not sufficient to pay the Escmw Ytems when due,Lender may so norify Botrower in writing,and,in such case Bonowes •. •,r.�t'=
<br /> � � � . . � shall pay co Lender the amount necessary to make up the deficiency. Bonower shaU make up the deSciency m no more thau ��F• � '`�
<br /> h ;w=,
<br /> . .� , twelve montWy payments,at Lender's sole discreaon. ` '�`�
<br /> � ' ' Upon paywent in fuU of all sums secured by this Securiry Insmurtent, Lender shall proraptly refiind to Borrower any •. .f,�--,
<br /> � � p�' Funds held by Leader.Jf,under ara h 21,Lender shall a uirc or sell the Pro acquisition or sate - " �T
<br /> p grap cq perty,I.ender,prior to the . _
<br /> : � . � of the Propert}r,shall apply any Funds held by Lender ac the time of acquisirion or sale as a�redit agaiast the sums secured by . � :.�`.
<br /> � , this Securlry Instrument. ', �
<br />- . - � • 3.Appl3catlon of A�yments.Unless applicable law provides otherwise,all gaymenu reteived by Lett�er under pazagraphs •i.. '. • .
<br /> • � � `°' 1 and 2 shall be applied:first, to any prepayment chazges due under the Note; second,to amounts payable under paragraph 2; -
<br /> . �� �
<br /> . -.# third,to intemst due;fourth,co princip�9 due;and lazt,to any late charges due under the Note. :, -:,.r:., '
<br /> � 4.Charges;Liea9.Borrower shall pay all taaes,assessmenu, charges, fines and impositions atuibutable to the Property �;;�'•
<br /> ,� ;{, ' :3 wbich may attain prioriry over cbis Security lnstrument. and leasehold payments or ground rents, if any. Borrower shali pay .
<br /> _; y . . • � these obligations in the manner pmvided in paragraph 2.or if not paid in that manner,Borrower shall pay them on timc directly , .
<br /> � , • I to the person owed payment.Borrower shal}promptly fumish to I.ender all notices of amounts to be paid under this paragraph. •
<br /> ; ' ' �1 If Borrower makes these paymenu direcdy,Borrower shall prompdy fumish to Lender receipts evidencing the payments. . �
<br /> _ � . :� Borrower sball pmrnptty dischazge any lien which has prioriry over this Security lnstrument unless Boaower: (a)agrees in , .
<br /> : � writing to the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)contesu 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 of the lien;or�c)secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to ,
<br />. , this Security tnstrument. If l.ender determines that any pazt of the Properry is subjecc to a lien which may attain priority over • , � � •
<br /> ,. this Security Instmment,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 3028 9190 , _
<br /> - . . ��6RINE)�e2�2i.o� ve90 i o�s ��roa�Tt1�,U .
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