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<br /> � .` r"` 'I�OGEff�R WI�i ali the improvements aow on c�aeafter erectcd on the property.and ell ea`emeafs�aypurtenance�.and • , .
<br /> -, . � � favaes now or heseafte�a p�t of the proparty.aw replacemen�ana aadiuons shail n�o bc cov�aed by�his Securiry tnsaumenz . . .
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<br /> .. � � �.-- All of the fotegoing is refeaed tn ur this Sec�ity Ins�ument as d�"Pmgertyr." • _
<br /> � - -` � BORROWFR COVENANTS tbat Borrower is lawfully seised oi the eqate hereby convcyad tind hns Nc right tn grant and _ --< k
<br /> canvey the Ptoperty aad that the Propeny is imertam��ered, except for encumbiances ot recard. Borrawcr wnrmnts und will
<br /> -� .. defend genaatIy t�e title tn the Praperty against aU cla�ns and demend4,subject tn any encumbem►ces ot recdrd. ° .� . ,
<br /> - TEIIS SECIJRITY INSIRUMEIVT'combiaes uniform coveaa�tts for nnrioaal use and aan•uniform covenants witP� limited . .�, ,
<br /> � v�ria@ons by jurisdiction w cunstitute a uaifmm seauiry instrument covering real prope�rcy. ` �. •. " .
<br /> . • UDID�URM COVBNANTS.BoAOaet aad Leader cove�t aad ag�a4 foIIows: � :.��-
<br /> �• !.Payment of Prtadpal and Inter�Prepayment and Late Chargq. Borrower shnU prompUy pay wQen dae the `' ,
<br />°- � . ' principal of an�iatcdes[on the debt evide�ced by the Note aad as►y prepayment and tate charges due under the Note. �� �x ,
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<br /> - 2.Fuads fos Taxes ead Iasuraac� Subject to applirable Isw or tn a wrIueu waiver py L�6p,Bortparer shs8 pay w .< , „�� "
<br /> - . . Leader on the daY��Y PaW►eau are due�mder the Note.�m�the Note is paid in full,a sum t"Funds°)tor:(A)Yauly laxes " -
<br /> and assessraeats atich may aaain priorhy over tLis S�Iustrument as a liea on t�e Pmpaty:(b)Yearly teasehold payments . , , "�``J_
<br /> tLi :}Y�
<br /> or gro�d rents on the Property,if auy;(c)Yearly ha�aM or pnnpeny iasusance pmmiums:(d)Yearly flaod iruuronce premiums.if . . ' - ���
<br /> - � , �Y:(e)Y�Y�S�insu�ance pre�i�rns.ff aay,and(fj any svms payab2e by Bamower ta Lcnder.in accordance wIth the ' � `'.:��: -
<br /> provi�ons of patagzaph 8, in lieu of the paymeni of mongage insueance premiva�.7hese itarc�ece called"E�ow Items." ' � �
<br /> Leudes may.at any time.callect and�old F�mds in�amo�t not w exceed the�um amonnt a leader for a feQeially relateQ . '��", ,..�.
<br /> . . mortgage loan may zequice for Bosrowe,r's esaow aaount Undea the fedaal Real Fstate Seukmeut Procedutes Act of 19T4 as ' '
<br /> _ - . .,' ameaded fiom time oo time,12 US C.Seaion 2601 etseq. ("RFSPA'�,unIess another law that ayplies to tlie FutWs sets e fess� _�- - -- --�
<br /> � amount 1f so.I,euder may.at any time.coltect aad ho2d Fuu�ds in an amouat aot w e�cceed the lesser amotpn. Lender may ... `
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<br /> • �mate the amouat of Futids due on the ba�of aureat data aud reasm�able estimates of expendl�aes of fuwrc Fscrow Items or . � �•��'^;�.�,=��
<br /> � '? ot6erwise�accordance with applicable law. • : :t��•�--=
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<br /> _ � :.'•'� 1l�e Funds shall be heId"m aa institudon whose�deposits are insured by a fedaal agency.irutrumentaliry.or eniity U.ncluding "�� ...:.. �:��6
<br /> � Leadea,if Leader is suc6 an mstitu�on)�nr u�any F�eral Home Loaa Bank.Lercder sdaU apply the Funds tn pay the Fscrow - �•
<br /> ' < Items.Leader may not charge Borrower for ho2d'uig and applying the Fwsds,annaally anaIyzing the escrow accann�or verifying � � .�
<br /> � � ';;...,.e__-
<br /> �., the Fsaow Ieems,imless L.e�der pays Bosrowes int�rest on the Ftmds and applicable 1aw perrAits Lender to mage such a charge. ' � ,�
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<br /> . , . Howevea,Lender ma r PaY B d$Pendent real es�tat�taa reportirtg stavice used by ° " � _
<br /> y eq�ire Botrower w a on�time char e for an in , ,�•_
<br /> `�� � ,. - . Leader in connecpioa�vitb tbic Ioa4 anless applicab2e law provides otherwise.UNess an agreement is made ac applicable law ' � � ' =—
<br /> �' � ;::�:�=
<br /> reqnues intezest to be paid,Lender shall not be reqnired to pay Bmrowes aay iu�rest ar eammgs on tlie Funds.Horrowet and -�----��
<br /> � Irer�dar may agree m arri�,however,that interest sfiall be , . '`�•��
<br /> paid oa We Fuuds.Lendes shall give tn Bormwer.wtthont charge.an . �..;�'�.
<br /> � ' annnal aa�ounting of the Funds,showing aedits and debiis to the Funds and the pw�pose for wtuch eacb debit tp tLe Fuads was .�+�;�:
<br /> � . made.11ie Funds are pledged as additional seauity for all sums secured by tLis Secauity Ins�umen� . ..��:,:::;
<br /> � ;. . ,, If the Funds held by Lender exceed tAe aiuounts pamivEd to be hetd by applicab2e laa,.Lender shaU account to Bolrower for , . ;:�:�.�'°
<br /> ��;, � '_".� the excess Funds in accardance with the reguiremenu of applicabie Iaw.If the amount of the Funds held by I.enGes ai any tLne is :� -x'-f;.
<br /> � not s�fffiaent to pay the Fscrow Items when due.Lea�der may so notify Boirowes in writing,and,in such qse Borrower shall pay . �. ;�-���
<br /> ito I.cndea 1he amovnt necess�y to make up the cleficiency. Bomnwer shall make up the deficie�cy�n no mare d�an ta+elve '� . � • ���_
<br /> :. monthlY Daywents,at Leader's sole discretion. ��,:�
<br /> . Upon payment in full of all sua,s secured by this Sepnity Inswment,Ix.ndar shall promp8y refund co�orrower any Funds � -- -- . ..��"':
<br /> • . . held by l.ender.lf.under paregrapb 21.Lender sdall acgnire or seU the Ptoperty.I,ender.prior to ihe acquisIdon or sale of the , � _ -
<br /> , " Property.shall ayply any Funds he2d hy Leaider at the time of acyuigitioa or sale a4 a aredit aga�st the sums seaued by this
<br /> • � . Seauity Insaumen4 " " '
<br /> ��. 3.AppIIcation o!Paymenta Unless applicab2e law provides otherwise.all yayments received by l.endea uader paragtayhs ' � . .
<br /> . . . . 1 and 2 shaU be applied:fus�w any prepayment c h a r ges due under the Nate:second.w amounts payable unda yaragraph 2; � � : .°
<br /> " ' .. � third.w interest due;founh.tn principal due:and 1as�.w any late charges due u�►der the Note. � ��
<br /> ' ' 4.Charges,Llens. Barmwer s6all yay all taxes.assessmeats.charges.fines and im�asldons atuibutable to the Pto�erry ... -
<br /> which may suain piioriry ovea this Securiry Instrument,and leasehoId payments or ground rents.if any.Botrower shall pay these •.
<br /> � obligarions in the mann�provided'm y�a�aph 2,or if not paid in that mannca,Borrowea shall yay thc�rn on time directly to the ° �
<br /> _ .. j . peason awed paym�t Bonoaer sda11 prornptly fumish w Le,mder all notioes of amauats w be paid under this paragraph. If � .
<br /> - _ Barrower makes these payments d'vectJy,Borrower shall P�PUY fumist►tu Lender receipts eviQe�cing the paymeats. . �
<br /> , • � � . Bmrower st�all prompdy dlscharge any lien which has prioary over th9s Security Instrwnent unIess Borrower.(a)ag�ees in � . . . � ..
<br /> writing to the payment of the obligadon secnmd by the lien in a manner acceplable ro Leatder;(b)contests in good faith the lien �
<br /> . j by, or defends sgainst ea�forcement of the lien in, legal praceedings which in the Lender's opinion opertlte w prevent the � • •
<br /> - enfoscement of the li�;or(c)secures from the holder of the lten an agreement satisfactnry m Lenda subordint�fing the lien to � .
<br /> this Security Instrument]f Lender deuKmines that any part of the Prayaty is subject tn a liea�which may attain priority over this �
<br /> Sec�uity InstrumenL Lender may give Borrower a notice iQentifying the lien.Borrowea shaU sarisfy thc Gen or take one or mone ! � �
<br /> ,;:� of the actions set folth above within 10 days of the giving of notice. � . .. '
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