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<br /> � 'I'OGF.'I'HF?R WI'tH all the improvements naw or hercnfter erected on the property, nnd all easement�, .. � t
<br /> appurtennnces,and tixturea now c�r hereafter a part of the property.All replacements and addition:��hull alGO be c�vered -
<br /> by thie Security Instrument.All 04 the foregoin�ie referred to in th�s Security Inatrument as the"Property," I
<br /> 130RRU�Sl�R CUVL�dAI�'I'S thut Borrower ie lewfully seised of the estate hereby conveyed and hae the cight to .
<br /> grant and convey the Property and that the Property is unencumbered,except for encumbrances of record. Horrower �
<br /> � - warrante and will de4end generally the title to the Property againet all claime and demands,subject to any encumbrances _
<br /> of record. •
<br /> TIiIS SECURITY INSTRUMENT combines uniform covenante for nationnl use and non-uniform covenants with
<br /> limited variatione by jurisdiction to canstitute a uniform security inatrument coverin�real property. . -
<br /> UNIFORM COVENANTS.Borrower and L.ender covenant and agrce es followg:
<br /> I.Peyment of Principal and Interost;Prepayment end Lats Chargcs. Borrower shull promptly pay when due =
<br /> the principal of and interest on the debt avidenced by the Note and any prepayment ond laYe charges due under the Note. , —
<br /> 2. Funds [or'faxes and In9urance. Subject to applicable law or to a written waiver by Lender, Borrawer shetl __
<br /> pay to Lender on the day monthly paymente are due under the Note,until the Note is paid in f ull,a sum("Funds")for. . : .,��_�
<br /> ' (a)ycarly taxes and assessments which may attain priority over this Security Inatrument es a lien on the Property; (b) �;,�,
<br /> yearly leasehold payments or ground rents on the Property,if any; (c) yearly hazard or property insurance prerniuma; _, __
<br /> (d)yearly tlood insurAnce prem�ums,if any;(e) yearly mortgage insurance premiume,if any; and (f)any sums payable
<br /> by Borrower to Lender,in accordance with the provision�of paragraph 8,in lieu of the payment of mortgage insurance �: _
<br /> premiuma.These items are called"Escrow Items,'Lender may,at any time,collect and hold Punds in an amount not _
<br /> to exceed the maximum amount a lender for a teclerally related mortgage loan may require for Bonower's escrorv �_
<br /> 12 U.S.C.
<br /> account under the federal Real Estate Settlement Procedures Act of 1974 as amended fram time to time, .,Y°,L;_„
<br /> r�• Section 2601 et seq. �"RESPA"),unless another law that applies to the Funds sets a lesser amount.If so, Lender msy, `,�,���;
<br /> � at any time,collect and hold Funds in an amount not to exceed the lesser amount.Lender may estimate the amount of • . ��`
<br /> Funda due on the baeis of current duta and reasona b le estimates o f expenditures of future Escrow Items or otherwise in . __
<br /> �j. accordance with applicable law. - �`
<br /> The Funds shall be held in an institution whose deposite nre insured by a federat agency, instrumentality,or entity � -�;�;�: �
<br /> (including Lender,if L.ender ie such an inatitution)or in any I'ederel Home Loan Bank.Lender ehall apply the Funde to ;�,
<br /> �•� pay the Escraw Items.Lender may not charge Borrower for holding and applying the Funda,annually analyzing the e,
<br /> _ _ _____J escrow account,or verifying the Escrow IteIms,unless Lender pays Borrower interest on the Funds and applicable law �
<br /> ? � permite Lender to maka euch a c}►n�go. �1G�V�b�� I�.nd�� n=�� T°-q'��r" Rnrr�wer tc� pay a one-time charge for an _
<br /> ' independent real estata tax reporting service used by I.ender in connection with this loan. unless applicable law provides �
<br /> �� otherwise.Unless an agreement is made or applicable law requires interest to be paid,Lender shall nat be required to
<br /> �"I ' pay Borrower nny interest or earninge on the Funds.Borrower and I,ender may agree in writing,hoNever,that interest `'�a ��'
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<br /> � �;y., shall be paid on the Funda.Lender ehall give to Bonower,without charge,an annual accounting of the Funde, showing ;'� l_
<br /> credits and debiUs to the Punde and the purpose for which each debit to the Funda was made. The Fu�ida are pledged as A�
<br /> , � additional security for all sums secured by thie Se�urity Inetrument. '-
<br /> ,.,. `� If the Funde held by Lender exceed the amounts permitted to be held by applicable law,Lender ehall account tv �.'
<br /> '1 Bonower for the excess Funda in accordanca with the requirements of applicable law. If the amount of the Funds held
<br /> � � by Lender at sny time is not sufficient to pay the Escrow Items when due,Lender may so notify Bonower in wdting, -`—��— _
<br /> and,in such case Borrower shell pay to Lender tha amount nacessary to make up the deficiency. Borrower ehall make �
<br /> � up the deficiency in no more thun twalve monthly paymente,at Lender's sole discretion. ' ,�
<br /> Upon puyment in full of all sums secured by thie Security Instrument,Lender shall promptly refund to HorroNer �..--�--
<br /> �. . .�, any Funda held by Lender. If, under paragraph 21, Lender shall acquire or sell tho Pmperty, Lender, prior to the ,;�;r.
<br /> , acquieition or sale of tho Propsrty,shall apply any Funds held by Lender at the time of acquisition or sala es a credit r.;__
<br /> against the oume secured by this Security Instrument. _
<br /> • " 3. Application of Payments. Unless applicable law provides otherwise,all payments received by Lender under ;�
<br />�, . . '' para gra phe 1 and 2 shall ba applied: firet,to any prepayment charges due under the Note;second,to amounts payeble �;
<br /> -�• � ' ��•�� under paregreph 2;third,to intereot due;fourt h,to principa l due;an d las t,Y o a n y l a t e c h a r�s d u e u n d e r t h e N o t e, C, ,���o
<br />- � 4. Ch�rges; Liens. HorroNer shatl pay all taxea, asscsaments, charges, fines and impositions attributablc tc the �.---
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