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<br /> , �,. • TOGETHER WITH all the impmvements now•or hemafter erected on the property.and all easemenu,appurte»ances.and °
<br /> ��.�� `: fixp►res nnw nr hereafter a pa�t of the property. All replacemenu and additions shall also be oovemd by this Security �°` :" �
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<br /> ,, � ` Instmmc-nt.All of the foregoing is referred to in this Security Instrument as the"Property.' � ��" . . • � �
<br /> ..._ ..:��: "�� BORROWER COVENANTS[hat Borrower is lawfulty seised of the estate hereby wnveyed azsd has the right to grant and� _ .. ; .�
<br /> _-�.�•`�-' convey the Property and t6at the Propeny is unencumbered,except for encumbrances of record. Borrawer warranu and will � _
<br /> �;_� defend generally the title to the Property against all claims and demands,subject to any encumbrances of rocard. �1 � r �
<br /> . _ . THIS SFCUAITY INSTRtIMENC combines uniform covenants for national use and aon-unif�rm covenants with limi _
<br /> • variations by jurisdiction to constitute a uniform security instr�ment covering real property. • '
<br /> ' - ��"' UN�ORM COVENAN7'S.Borrower and l.ender cavenant and agree as follows: • � , .
<br /> �`� ; }e l. Payment of Prindpal and I�erest; Prepayment aad Late Chaeges. Borrower shall promptiy pay when due r
<br /> . prinsipal of and interest on the debt evidenced by the Note and any prepayment and tate charges dae under the I�Iote. ' _W %--
<br /> Z.F�tnds for Taxes aad Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to �=�-
<br /> � Lender on the day monttily payments aTe due under the Note,until the Note is paid in fuil,a sum("Funds")for.(a)yearly taxes �'�
<br /> � and assessments which may attain priority over this Seceirity�nsuument as a lien on the Pcoperry:(by yearly leasehold paymenis ��"��-� �
<br /> • • °r gr�ound rents on the Froperty,if any:(c)qearly Ua7ard or property insurance pnmiums;(d)Ye�r1Y flood insurance preminms, .
<br /> ' if any;(e)YeariY mortgage insurance premiums.if any: and(�any sums payable by Borrower to I.ender.in accordance adth ' . .
<br />,-,: ,., �` � the provisions of paragraph 8.in lieu of the payment of mortgage�*+�,►a*+�s premiums.These items are ralled"Escrow Items.° ^ '; �'-
<br /> Lender may, at any time, coltect and hold Funds in an amount not to exceed the maaimum amount a lender for a federalty
<br /> related mortgage toan may require for Borrower's es.-row aocount under the federal Real Estate Setflement Frocedures Ad of ' ---
<br /> -� - - 1974 as amended from time to ume, 12 U.S.C.Section 2601 et seq. ("RE5PA"),uiiless another law tl�at applies to tlte Fuuds ""�� ' *�
<br /> � .� sets a lesser amount. If so, Lender may, at any time. callect and hold Funds in an amount not to exceed the lesser amount. � E�
<br />- : , , Lender may estimate the amount of Funds due on the basis of cuaeat data and reasonable estimates of expenditures of future ` �`-.a s_ .
<br /> Escrow Items or otherwise in acr.ordance with applica8le law. ; �4 �' ��- "'��
<br /> - - - The Funds shal! be hetd in an institution whose deposits are insured by a federal agency, su »+e^tA�ity. or entity `' • �'-''x��
<br /> � 'V'� (including Lender.if Leader is such an institution)or in any Federal Home I.oan Bank.Ixnder shall apply the Funds to pay the w.� ��-r
<br /> . Escrow Items. Lender may not charge Borrower far holding and applying the Funds.annually analyzing the escrow accoun4 or ';'s,: ��
<br /> . . : . . verifying the Escrow Items,unless Lender pays Borrower interest on the F�s and applicable!aw permits Ixnder to make such --_ _
<br /> . a charge. However,Leader may require Borrower to pay a one-time charge for an independent real est�e tax reporting service � �- -
<br /> , ...:. .,.,�.-
<br /> ' � : used by l.ender in co�ection with this loan, unless applicable law provides otherwise. Untess an agreement is made or .� ��
<br /> `;,--
<br /> . applicable law requires interest to be paid.Lender shall not be required to pay Borrower any interest or earnings on the Funds. •. � m°
<br /> . . . . Borrower and Lender may agree in writing. however.that interest shall be paid on the Funds. Lender shall give to Batrower. � �':�y,
<br /> � ,. without charge,an annuai accounting of the Funds.showing credits and debits to the Fnnds�td the purpose for which each �"�^r ��
<br /> .._.-, ._:A___ • debit to the Funds was madc.The Funds are ptedged as additional security for all sums secured by this Security Instnunent.
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