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<br /> ' , TOGETHER WITH all the improvemenu now or hereafter erectted of�n�addi ons�shall al.a►be�cav � this Security ,' � �
<br /> ' ,.. � fixtures now or her�f�er a part of the pmperty. All replacem �-
<br /> � � ` Insuument.All oi the foregoing is referred to in[his SecWriry Instrument as the"Property." ` ` . .<r �. •
<br /> � BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conweyed and has the righi ta grant and . ��t
<br /> - . � _y:.--� convey the Property and that the Pmperty is unencum6ered. except for encumbcances of reco n d. Bom►wer wanants and will ` ti . ,
<br /> - . ��`. tv�:,:; defend generally the title to the PropertY against a11 ciaims and demands,subject to any encumbrattces of recnrd. `.�t�
<br /> ., .. .
<br /> -�-�-F - �:= TflIS SECURITY INSTRUNlENT combines unifnrm covenanu for national�se and non-uniform covenants with limited • •
<br /> '�~ -• � �
<br /> . variations by jurisdiction to cc�nstitute a uniform security instrument coveri.lg real propeny•
<br /> UNffORM COVENAIVTS.Borrower and Lender wvenant and agree as foAows: � �"'•
<br /> � • � 1. Fayment of Peiacipa!and Interest; Prepaim►ent and f.ate Char�es. Borrower shali promptiY paY when due the ,.. _-
<br /> -- - ` - principal of and interest on the debt evidenced by the Note and any prepayment and late charges dne under[he Note. -
<br /> ' � 2,Funds for Taxes aud Insurance. Sub}ect to applicable law or to a written waiver by Leader. Borrower shall pay to _-_
<br />- . Lender on the day monthlY payments are due nttder the Note.until the Note is paid'm full.a sum("Furtds")for:ta)yeartY taxes i:,.,:.-=�"-
<br /> and as,sessmeau which may attain priority over this Secvrity insuument as a lien on the Property:(b)Year�y tease6°ld payments • __ -
<br /> � , or ground renu on the Propercy.if any:lc)Year1Y ha�ard or property insurance premiums:(d)YeariY tla�d insurance premiums. ` < � --
<br />. � - if any: (e)yearly mortP,aSe insurance Premiums• if any:and(�any sums payabte by Borrower to Lender, in accordance with
<br /> �•-. - � _ the provisions of paragcaph 8, in lieu of the payment of mortgage insurance premiums.These itecns are called"Fscrow Ite�ns.°
<br /> � ` - Lender may, at any time, collect and hold Funds in an amount not to eaceed the maximum amonnt a lender far a federalty . .�, ;-
<br /> - � . related mortgage loan may require for Eorrower s escrow accaunt under the federal Real Estate Setttement Procedures Act of �•. ...�-
<br /> • 19'14 as amended from time to time. 12 U.S.C.Section 2601 et seg. ("RFSPA"}�unless another law tbai applies to the Funds '
<br /> : � :r.,`„� sets a lesser amoun�. If so. Lender tnay. at any cime. co1�eM and hotd Funds in an amount not ta exceed the tesser amount. ; . i
<br /> - -. - - Lendet may estimate the amount of Funds due an the basis of current data and reasonable estimates of expenditures of future —
<br /> �` � Escrow Items or otherwise in accordance w►th applieable taw. � '�
<br /> The Funds shall be 6eld in an institurion whose deposits are insured by a federal agency, insaumentality. or enrity :` ; _ ",,.�-_�_=
<br /> _ . (including Lender.if l.ender is such an institudon)or in tuiy Federal Home Loan Bank.Lender shall app!y the Funds to pay the _ =_
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<br /> '� 1`•= Fsccow Items.Lender may not charge Borrower for holding and agplying the Funds,annually analyzing the escrow accaunt.�r _
<br />' ' verifying the Escrow Items,unless Lender pays Borrower interest on the Fwtds and applicabte law permits Lender to make Such :� ,1� '-
<br /> ��' � a charge.However.Lender may require Borrower to pay a one-time charge for an independent real estate taa reporting service _
<br /> , used by Lender in connection with this loan, unless applicable law provides otherwise. Unless an agreement is made or � ,
<br /> � appGcable taw requires interest to be paid.l.ender shall not be required to pay Borrower any interesc or earnings on the Funds. _
<br /> '^`,�' ' � ' . Bc+rrower and L.ender may agree in wriung.however,that interest shall be paid on the Funds. Lender shall give to Borrower. - -:~`�.
<br /> • �. . �.;,., without charge, an annual accounring of the Funds.showing credits and debits to the Fwnds and the purpose for which each . _—
<br /> ' � �.:':� debit to the Funds was made.The Funds are pledged as additional security for all sums secured by this Security Instmment. ��'�`� . _ _
<br /> ,` . � .. :��::�:,Y,�� If the Funds held by Lender exceed t�e aznounts permitted to be held by applicable taw.Lender shall account to Bonower ���
<br />.��,r -.�r.--- -: •=-�.�.;j for tise excess Funds in accordance with the requirements of applicabte taw. If the amount of the Funds held by I.ender at any •_�.-_
<br /> , - • ° • i tune is not sufficient to pay the Escrow Items when due.I.ender may so notify Borrower in writing,and.in snch case Horrower � :'.'s•:_� _ _
<br /> �� �. j shall pay to ixnder the amount necessary to make up ihe.deficiency. Borrower shall make up the deficiency in no more than �;:'F_._�_
<br /> .� ... � � .. .� -
<br /> ,, twelve monthly payments.at Lender's sole discretion.
<br /> . Upon payment in full of all sums secure�by this Security Instrument. Lender shall prompdy refund to Borrower any `���, '
<br /> t '� •• � Funds held by Lender.If,under paragraph 21.Lender shall acquire or seU the Froperty.Lender,priar to the acquisition or sale _
<br /> � "'. . ' � ��� of the Property.shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by —
<br /> k• : .. .. tlrisSecuritylnstrument. :
<br />"'��" � '� 3.App1[cat�on of Payments.Unless applicable law provides otherwise.a11 payments received by Lender under parag�aphs , . ; �': ___
<br /> ••°''�� � � -�� -' a ent charges due under the Nate;second,to amounts payable under paragraph�2: - _
<br /> � .;,, 1 an d 2 s h a l l be a p plied:first,to an y prep ym
<br /> _. � � '�'" ihird.to interest due:foarth,to principal due:and last.to any late charges due under the Note. . ,. _
<br /> � • 4,Charges;Liens.Borrower shall pay all taxes.assessments.charges. f ines a n d i mp o s i t i o n s a tt ri b u t a b l e t o t h e P r o p c rt y � ;
<br /> ' • � which may attain priority over this Security Instrument. and leasehold payments ur ground rents. if any. Bonower shall pay • ;• .
<br /> �'�� � t hese o b ligations in the manner provided in paragraph 2.or if not paid in that manner.Borrower shall pay them on time directly : ��., :� :
<br /> � � to the person owed payment. Borrower shall promptly fumish to l.ender all nodces of amounts to be paid under this paragraph. . .
<br /> if Borrower makes these payments directly.Bonower shall promptly fumish to Lender receipts evidencing the paymenu. , .
<br /> ' Bonower shall promptiy discharge any lien which has priority over this Securiry Insttument unless Borrower:(a)agrees in . ,
<br /> `��,� � ' writing to the payment of the obligation secured by the licn in a manner acceptable to Lender:(b)cantests i»good faith the lien : .., �} .
<br /> .� � by, or defends against enforcement of the lien in, legal proceedings which in the I.ender's opinion'operate to prevent the
<br /> � enforcement af the lien:or(c)secures from the holder of the lien an agreement sadsfactory to Lender subordinating the lien to .,..
<br />_ � this Security Instrument. If Lender determines that any part of the Property is sub}ect to a lien which may attain priority over • � ,
<br /> ; this Security Instrument, Lender may give Borrower a notice ideniifying thc lien. Barrawer shall satisfy the lien or take one or .
<br /> ��:��� ' . i more of the actions tiet forth above within 10 days of the giving af notice. °
<br /> ' � � ! Form 3028 9190 • '
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