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<br /> Tp(➢EI'F[FR WPTH a11 We impmvements now or hereafter erected on the m and all easements.apputienances. ` .`1
<br /> P Penl'•
<br /> � and fu�tures now or hereaftcr a part of the property. All replucemcnts and additions shail also be co�ered by this Securety
<br /> �L • . - � Inswmen� All af the foregoing is refemed to in this Sexurity G�sm�ment as the"ProFen3'." °.` �� •�'
<br /> � ' BORROWER COV�NAN7'S that Botrower is lawfully seiscd of the estate hereby conveyed and has ttte right to g�ant ����,.-.-_;...�-
<br /> � . -��! aad canvey the Property and that the Praperty is unencumbered.except for encumbrances of record. Borrower wanants and ,
<br /> � �,. wiU defend generally the tide to the Progerty against all clauns and demands,subject to any encumbrauces of cecord __ :. , , ,
<br /> - TEIIS SECURITY IlNS7'RIJMENT combines uaiform covenants for natianal use and non-uniform covenants with _ _ -
<br /> � � Iimited variations by jurisdiction w constitute a uniform securiry instruinent covering real property •
<br /> - - UNIFaRM COVENANTS. Barrower and Lend�r covenaut and agree as foUows: ,�}�.���• • �
<br /> � � • 1. Pgym�t of Prindpal and Interest;Prepayment and Late Chargcs. Bocrowec shall promP�Y PaY whea due the ' .
<br /> - , . . prinripal of and interest on the debt evidenced by the Note and uny prepayment and late charges due under the Note. _. ;4' ,•
<br /> � . • 2. Funds for'Ibxes aad Insniance. Subject to applicable law or to a written waiver by Lender,Borrower shall pay to
<br />?; • . � Lender on the day monthly paymenu are due under the Note,until the Note is paid in fiill,a sum("Fuads")for.(a)yearly r. �' *_
<br /> : tazes and aSSessments wluch may attain priurity over this Security Inmument as a lien on the Property:(b)yearly leasehold , '�_�_�
<br />�" payments or gound renu on the Property, if any: (c) yearlY haiard or property iaswance premiums: fd) yearlY flood ^•: =..
<br /> 5; � . inswance p�auwns. if any: !e) Y�ly martgage insurance premiwns.if any:and(� any sums payable by Borrower to . � •�,;=.{=;
<br /> � Lender,in accordance with the provisions of patagraph 8,in lieu of the�ayment of mortgage insurance premiums. 7�ese :} ; '''�°"°
<br />`��'� �'r i•ems are�-alled"E�crow Item.s." Leuder may.at any wne,collect and hold Funds in an amount not to exceed the ma�cimum . _ ,��s-
<br /> � 1 auiount a ..:nder fo. a :°derall� relate.d mortgage loan tnay�eyuine for Borrower's escrow account under the federal Real -
<br /> � ' Estate Setttement Procedures Act of 1974 as ameaded from time to time,l2 U.S.C.§2601 et seq.{^RESPA").untess another `.::,�
<br /> ' � law that applies to the Funds sets a lesser amount If so,Lender may.at any time,collect and hold Funds in an amoum not to ;;:-,;,•
<br /> �� ' eaceed the lesser amount Lender may estimate the amount of Funds due on the basis af cutrent data and reasonable • ; .:i;..�z:;_
<br />-- � estima'�es of expenditures of futuie Escrow Items or otheiwise ia arcotdance with applicable law_ _ � <<. .`��.�..
<br /> • The Funds shaU be held in an institution whose deposits are insuned by a federal agency.insuumentality.or enury ___,.._ 1�
<br /> � (including Lender,if Lender is such an institution)or in any Federul Home Loan Bank. Lender s}tall apply the Fuads to pay � �,�:?.s
<br /> ' � the Escrow Items. I.ender may not charge Botrower for holding and applying the Funds,annually analyzing the escrow F
<br /> ' - accaunt,or verifying the Escrow Items, untess Lender pays Borrower interest on the Funds and applicable law permits :.���`;.�;;_�
<br /> , • . • •-- Lender co make such a charge. EIowever.Lender may reqoire Borrower to pay a one-time charge for an independent real �_�:
<br /> estate tau reporting service used by Lender in cannection with this loan.anless applicable law provides otherwise. Unless an ;���_.
<br /> . agreement is made or applicable law requires interest to be paid,l.ender shall not be requirecl to pay Bocrower any interest or � �;f.:_�:;
<br /> `` � . eamings on the Funds. Borrower and Leader may agree in writing,however,that interest shall be paid on the Funds. Lender , ;�;,�.;
<br /> ,�^' shall give to Borrower,without charge.an annual accounting of the Funds,showing credits aad debits to the Funds and the .;
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<br /> � . � parpose for which each debit to t�e Funds was made. The Funds are pledged as additional securiry for all sums secured by , ----
<br /> • � � ' this Security Iastrumen� . .;::�`'�
<br /> �: If ttie Funds hetd by Lender exceed the amounts pertnitted to be held by applicable law,I.ender shall account to . . :."���.
<br />_ . • :,, Borrower fot the excess Funds in accordance with the requirements of applicabte law. If the amount of the Funds held by • .
<br /> �. Lender at any time is not sufficient to pay the Fscrow Items when due,Lender may so notify Borrower in wridng.and,in , .• �,`i��_-
<br /> - such case Harrower shall Qay ro I.ender the amount necessary to make up the deficiency. Bormwer shall make up the .;� . ; .:•.�,�,
<br /> ;,:; . � deficiency ia ao more than twelve monthly payments,at Lender's sole discreUop. . -'
<br /> � . Ilpon payment in full of all sums secured hy this Security Instrumen�l.ender shall prompdy refund to Borrower any . �= �h�
<br /> � Funds hetd by Lender. If.under paragraph 21.Lender shaD acquire or sell the Praperty.Lender,prior to the acquisidon or . . '',- :��,'.
<br /> ' �� sale of the Property.shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums .;.`���
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<br /> ' secured by this Security Instrument. ' «_�
<br /> �• � � 3. Applica@on of Fayments. Unless applicable law provides otherwise,all payments received by Lender under ''� � �,�_.
<br />• (�` para�aphs 1 and 2 shall be applied:firsti to any prepayment charges due under the Note:second,to amounu payable under � • . ��_
<br /> • �y paragraph 2:third to interest due:fourth,to principal due:and last,to any late charges due under the Note. ' '�.
<br /> . a, C6arges; Ltens. Borrower shall pay all taxe�,as:,essments, charges.fines and impositions attributable to the ,� :. ' "'*`
<br /> � • Property which may attain priority over this Security lnswment,and leasehold payments or ground renGs,if any. Borrower
<br /> shal!pay chese obligauons in the manner provided in paragraph 2,or if not paid in ihat manner.Borrower shall pay ihem on .. �;•� ••
<br /> � � •.� time direcdy to the person owed gayment. Bonower shall promptly fumish to Lender all notices of amqunt�,to be paid under •:.;,,. �
<br /> • this paragraph. lf Borrower ma.kes thcse payments directly.Borrawer shall promptly furnish to Lender receipts evidencing ,
<br />- �.'; . � ' • the payment�. , . .
<br /> � Borrower shall promptly discharge any lien which has priority aver this Security Ir�wment unless Borrawer.(a)agrees ,
<br /> � in writin�tu the payment of the obligation secured by the lien in a manner acceptable ta Lender.(b)contests in good faith the . .;;
<br /> • lien by,or defends against enforcement of the lien in,legal proceedings which in the Lender's opinion operate to prevent the •. .
<br />: ''1'��� enforcemen[of the lien:or(c)tecnres from the holder of the lien an agreement satisfactory to Lender subordinating the lien
<br /> ' � . to this Securiry Instrument. If L�:der dctermines ihat any part of thc Praperty is subject ta a lien which may attain priority . .
<br /> � over this Security Instrument,Lender may give Borrower a�otice identifying the licn. Borrower shall saticfy the liea or takc ; .
<br /> � one ur rnore of the actions set forth above within 10 days of the giving of rtatice. ,
<br /> . 5. Hazard or Property lnsmance. Borrower shall keep the improvements now existing or hereaf'ter erected on the
<br /> ' Property insured against loss by fire.hazards included within the term"cxtended coverage"and any other ha•rards,including .
<br /> floods or flooding. for which Lendcr rcquires insurance. This insurancc shall be maintained in the amounu and for the
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