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<br /> .� .. • . TOGETHER WiTH all the impmvemeats now or hereafter erected oa the properry,and all easements.appurtenarses,and • , �' �._
<br /> fuctures ceow or hereafter a part of the propertY• AU replacements and addiaons shall also be covered by ihis Securiry •t ,'- . , •
<br /> Instrument.All of the foregoing is referred to in this Securiry Inst�ment as the"ProPertY." •
<br /> � ` � BORROWER COVENANTS t6at Bomower is lawfully seised of the estate f►eseby conveyed and�as the right to grant and .
<br /> -- - --�., convey the Property and thai the Property is unancumbered. excepi for encumbrances of record. Borrower warran�s and will -- — __. .�' .•
<br /> • . - defend generally the tide to[he Property agains[a11 claims and demand�,sublect to any encumbrances of cecord. _ - - ::'°- �-
<br /> - ` . . THIS SECURITY INSfR[JMENT combines uaiform covenanu for national use and non-uniform wvenants a+ith limiterl � �;�: ;.`
<br /> �. variarions by jurisdiction to constitute a uniform securiry insaument covering real Pi'aP�Y• :. �� '',�r°�,
<br /> ' •• UNffORM CO'VENAI�I'fS.Borrowec and 1�nder covenant and agrce as follows: w��e tfie •
<br /> . � , . � 1. �ymeut of Prindpal and Inierest; PceP$Ymeat aad Late Chasges. Borrower shall pmmP�7+ PaY - � . ;.�:;_.
<br /> .. principal of and interest on the debt evidenced by the Note and any prepayment and lue charg�s due under the Note. `- N_.:..;�.-�_
<br /> Z.F�mds for Taaes and Insarance.Subject w applicable la�v or w a wriuen waiver by Ixnder,Borrower sf�all pal+to - --
<br /> � . • Lender on the day montWy paymenu are due under the Note,und7 the Note is paid in fuU,a sum("Funds')for.(a)Year1Y�axes �` �,�� �;-����:`_
<br /> ' aud assessments which maY auain Priority over this Serauiry Insuument as a lien on the Property;(b)Year1Y teasehold payments .�...-�;""
<br /> . - '�• or ground reats on the PropertY,if airy;(�)Y�Y�or properry insurance premiums;(�Yearly flood iasarance Fremiums. ' ''_T_.
<br /> . if any;(e)Y�Y��nSaBe msurance pre�mums, if any; and(fl anY sums PaYable iry Borrower co Lender, in accordance with ., , _
<br /> . . the pmvisions of paragraph 8,ia lieu of the paYment of mortgage insurance plemiums.These items aze calted"Escrow Items.' �'�" ''
<br /> .� • � - �;;� Ixnder may, az any time, oollect and hotd Funds in an amount not to excced the maxi�m amount a lender for a federally , _
<br /> ` ' related mortgage loan may require for Borrawer s escrow accouut under the federal Real Estate Secttemeat Procedures Act of __
<br /> " ` 1974 as amended fmm time to time, 12 U.S.C.Section Z601 et se�q.("RESPA").�nless another laar thai applies to the Funds _ ---
<br /> � seis a lesser amount. If so, Lender may. u any time, collect and hotd Funds in an amount not to exceed the lesser amoun�. , :.. ,::_—
<br /> ' • ,,:•`� Lender may estimate the amount of Funds due on We basis of current data and reasonabte estimates of expenditures of funue : : � `
<br /> . • Fscrow Items or otheiwise in accosdance with aPplicable law. �'�'.::�
<br /> � .:.�' The Funds shall be held in an instimtion whose deposiu are insured by a federal agency. insanmentality, os entiry .�„��.
<br />_ .� .�_-�_V, .
<br /> � . (insluding Lender,if Lender is sach aa instimtion)or in azry Federal Home Loaz►Bank.lxnder shatl apply ttse Sunds to pay the •.?.�.,_—=
<br /> � Escrnw Items.Lender may not charge Borrower for hotding and aPP�B�e F�mds,annnally analyzin&the escrow account.or .:..',�*�,-
<br /> • '. � verifying the Escmw Items,ualess Lender pays Borrower interest on the Funds and applicable law perwits Lender w make such ` . . y�=-
<br /> a chatge.Hawever, Lender may require Borrnwer to pay a on�dme charge for an independent real estate tax reporting service � • __
<br /> � - used by I.ender in connection with this loan, unless applicabte law provides otherwise. Untess an agc�eement is made os �r., , _-�-^
<br /> � applicable law requires interest to be paid.Lender shall not be required to pay Borrower aay interest or earnings oa ttte Funds. ;;,.:�'� ;:.,��_
<br /> Bormwer and Leader may agree in writin8• however,that interest shall be paid on the Funds. L.ender shall give to Borrower, �s.��'j'.,�:�:..��,.�.
<br /> • without char ge. an annual aceounting of the Funds, show'sng crediu aad debits to the Funds and the purpose for wluch each ' �'.� :;;����
<br /> ' debit to the Funds was made.The Fu�cds are p2edged as additional se�urity for all sums seau e d by c h is Sea�riry I n s t n�m e n t. . ;.::�,
<br /> 1 l.ender shaU accaunt to Borrower �=.
<br /> � If the Funds held by i.endes eaceed the amonnu permitted to be held by app icable law. _ �-{.•_
<br /> ' for the cxcess Funds in accordance v�rith the recluirements of applicable law. If the amount of[he Funds held by ixnder at any ,.'�;,�
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<br /> tune is not sufficient to pay the Fscrow Items when due.Lender may so notify Borrower in writing,and,ia sucb case Borrower . . .. }�_::
<br /> � � '_. shall pay to I.ender the amount necessary to malce up the deficiency Borrower shall make up the defictency in ao more than ' '; ,; �:� -;�.
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<br /> � �? twelve montt�ly payments.at Lender's sole discreuon. � -
<br /> _. . , �• �....
<br /> . . Upon payment in full of all sums secured by this Securiry Instrument, Lender shall promptly refimd to Borrower any � . ��
<br /> Funds held by Lender.If,under paragraph 21,Lender shall acquire or sell the Property.Lender,prinr to the acquisition or sate •�
<br /> ,.�.: , -�:.
<br /> � ' of the Praperry.shall apply any Funds held by Lender at the time of acquisition ar sale as a credit a�ainst the sums secured by �,
<br /> • this Security lnstrument. ' •: �,,
<br /> • ', ' 3.Appftcatton of Payments.UNess applicable law provides otherwise,all payments received by Lender under patagraphs •.
<br /> � . � 1 and 2 shall be applied:fi�st.to anY prepayment charges due under the Note;second,to amounu payabte under paragraph 2; . , .
<br /> �� ' third,to interest due;fourth.to principal due:and last,to any late charges due under the Note. .. , . _
<br /> � 4.Charges;Ltens. Borrower shall pay all taxes, ass�csments,charges. fines and impositions attributable to the Property . .
<br /> which may attain priority over this Security (nscrument, and leasehold payments or ground rents. if any. Bonower shall pay .'
<br /> '� these obligations in the manner pravided in pazagraph 2,or if not paid in that manner.Bonower 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 paragraph. . .
<br /> ' If Borrower makes these payments directly.Borrower shall promptly fumish to Lender reccipts evidencing the payments. , . .
<br /> � Borrower shall promptly discharge any lien which has prioriry over this Securiry Instrument unless Borrower:(a)agrees in : • .
<br /> E '.; writing to the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)concests in good faith the lien . _� . . .
<br /> � � by, or defends against enforcement of the lien in. legal proceedings whicb 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 lnswment. If l.ender determines that any pan of the Propeny is subject to a lien which may attain prioriry over � .
<br /> this Security instrument. Lender may give Bonower a notice idemifying 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.
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