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<br /> � , �. TOGEY'HER WITH all the improvemenu now or hereafter erected on the pmperty.and all easements,appurtenanzes,and ` Vc
<br />- � • '. � fiatures now or hereafter a part of the praperty. All replacements and additions shall also be rnvered by this Secwity { : �'.`. � �
<br /> " ' , .� Instrument.All of the foregoing is refemed to in this Security insuument as the"Property." . `
<br /> . ...,�_
<br /> � ` � �� BORROWER COVENANTS that&�rrower is lawfully seised of the estate hereby rnnveyed and has[he right to grant and . .
<br /> -- �`' `� � convey the Property and that t!� PropertY is unencumbered, except for encumbrances of record. Borrower warranu and will
<br /> _" �'•
<br />�� � defend generally the dde to the Property an�t all clairas and demands.subject to any encumbrances nf record.
<br /> � THIS SECURITY INSTRUMENT rnmbines uniform covenanu for national use and non-uniform covenanu with limited _
<br /> � ' � variations by jurisdiction to rnnstitute a uniform security instxument coveriag real property. F .: ` •t: .
<br /> '�: � � � � UIVIFORM COVENAIVTS.Borsower and L.ender covenant and ag�ee as follows:
<br /> 5� 1. Payment of�'incipal and Interest; Prepayment and Late C6arges. Borrower shal! promptly pay when due the , ��
<br /> �. .�_ . '- . �.
<br />� ' . � principal of and interese on t6e debt evidenced by the I�iate and any prepayment and late charges due under the Note. : �`;R_•
<br />�!� . ' ��f - . .
<br /> , 2. Funds for Taxes aad Iasurance.Subject to applicable law or to a written waiver by Lender, Borrower shall pay to .����: ., :
<br /> ' . Lender on the day monthly payments are due under the Note,until the Note is paid in full,a swn("Funds")for.(a)yearly taxes ,,: �
<br /> `•!` `�. • and assessments which may aitain priority over this Security Instrument as a lien on the Pmperty:(b)Year1Y�easehold payments
<br /> , ,�_;;.
<br /> ;{, _. ' , � or ground rents on the Property.if any:(a)Yearly ha7ard or pmperty insurence premiums:(d)Yearly fload insurance premiums. _ ._.
<br /> �'"`,' � - if any: (e)yearly mortgage insurance premiums. if any:and(�any sums payable by 8orrower to Lender,in accordance with . _
<br /> • the provisions of paragraph 8,in lieu of the paymznt of moagage insurance pretniums.77iese iteins are called"Escrow Items." r �•�
<br />-- , �`; Ixnder may, at an�• time, collect and hold Funds in an amount not to exceed the maximum amoant a lender for a fede�ally ,.�"`
<br /> ���t . � related mortgage loan may require for Borrower's escrow aecount under the federa! Real Estate Settlement Pracedures Aet of ��`:�'�
<br /> :���
<br /> ` "" - 1974 as amended from time to ti►ne. 12 U.S.C. 5ection 260t et seq. ("RESPA").unless another law lhat applies to the Fnnds ____ '�'�zs,
<br />,��F, ' ``"'•, ;, seas a lesser amount. If so. Lendzr may. at any time, collect and hold Funds in an amount not to excced the lesser amount. ,���.��:`�_
<br /> t.; ' ` Lender may estimate the amount of Funds due on the basis of current data and reasonable estimates of e�cpenditures af future ���-�-
<br /> ' . �• - Escrow Items ar othenvise in accordance with applicable law. . },; �� `
<br /> -'° ' �i " ` The Funds shall be held in an institutian whose deposits are insured hy a federal agency. inswmentality. or entity , T,..�;:
<br /> ` ' � (including Lender, if l.ender is such an institution)or in any Federal Home Loan Bank- Lender shall apply the Funds to pay the —�
<br /> '3`; � " Escraw Items.Lcnder may not charge Bonower for holding and applying the Funds,annually analyzing the escrow account,or s�_
<br /> .'Ff-__-�:
<br /> verifying the Escrow Items,unless Lender pays Borrower interest on the Funds and applicable law permits l.ender to make such .��l�:
<br /> ; � �', , a charge. Howe��,Lender may require Borrower ta pay a one-time charge for an independent real estate tax reporting service ' •�.i;';��
<br /> .. ;..
<br /> _ . used by l.ender in connection with this loan, untess appiicable law provides othenvise. Unless an agreement is made or . „ .r�
<br /> `. . � applicable law reqvires interest to be paid.Lender shall not be reqaired to pa�•Borroaer any interest or earnings on the Funds. ' �� '• ���'
<br /> � �=,.%;-�i
<br /> . Horrower and Lender may agree in writing,however.that interest shall be paid on the Funds. Ler.der shall give to Borrower, __
<br />_ . . �' without charge, an annual accountin�of the Funds, showing crediu and debits w the'Funds and the purpose for which each _ _
<br /> - .. � debit to the Funds was made.The Funds are pledged as additianal security for all sums secured by this Security Instrument. `.��__
<br /> � If the Funds 6eld by Lender exceed ehe amounu permitted to be held by applicable law, Lender shall accouttt to Borrower :;_�:-
<br /> � � � for the excess Funds in accordance with the requiremenu af applicable law. If the amaunt of the Funds held by Lender at any j�_
<br /> �'r .. time is nat�ufficient to pay the Escrow Items when due.I.ender may tio notify Bor�awer in writing,and.in such case Borrower � �'•��'
<br /> � .���.r;:
<br /> ' shall pay to Lender the amount necessary to make up the deficiency. $orrower,hall malce up the deficiency in no more than •¢�-
<br /> . twelve monthly payments,at Lender s sole discretion. . . �
<br /> '�� • � Upon payment in fuQ of a11 sums ,ecured by this 5ecurity instrument. Lender shall promptly refund to Borrower any , ���i
<br /> :;;,,':
<br /> - � . , � - Fundti hetd by Lender.If.under paragraph 21.Lender shall acquire or sell the Property.Lender,prior ta the acquisitian or sale , _
<br /> � of the Property. shall apply any Funds held by Lender at the time of acquisitian or sale ac a credit aguinst the sums secured by . •,'�
<br /> ' : • this Security Instrument. � ,
<br /> • 3.Application of Paymenis.Unless applicable law pro�ides otherwise.all payments received by Lender under paragraphs .
<br /> ��; . .
<br /> • 1 and 2 shal!bc applied: firtit, t��any prepayment charges due under the Note:second,to amounts payable under paragraph 2: .
<br /> '� � . third.u�interest due:fourth.ta principal due:and latit.to any late charges due under the Note. , ..
<br />: � ' ' • 4.Charges; Liens. Borrower shall pay aU taxcs,a.ti5es,ments, charges, fines and impositians attributabte to the Property .. , . ..
<br /> . , which may attain priority over thi. Security Intitrumem, and leasehold payments or;round rents, if any. Bonower shall pay ,
<br />- � � these obligationc in the manncr provided in paragraph 2.c�r if nat paid in that manner.�orrower shall pay them on time directly ..
<br />:;;,:.
<br /> � : . to the person owed payment. Bvrrower tihall promptly tamitih w Lcnder all noticcs of amounts to be paid under this paragraph. :
<br /> If Rorrcxvcr maketi[he5e payments directty.Bc►rcower,hall prompily furnish to Lender receipts evideneing ihe paymen�s. , .
<br /> � Burrower tihall pmmptly Jischarge any lien which hati prioriry over this Securiry Instrument unless Borrower.(a)agrees in • , .
<br /> � "' � � �vriting to the payment of the obligation tccured by the lien in a manner acceptable to Lender:(b>contestti in good faith the lien � .
<br /> � ny. or dcfcnds again+t cnforccmcnt of the licn in. Icgal procecdings which in �he Lender's opinion operate t� prcvent the
<br /> ' enforcement of the licn: or�c)+ecure�fram the hotder nf"the licn an agreement tiatisfactory to LenJer,ubordinating the lien to , :
<br /> � thi�Se.�;urity Imtrument. If L�:nder dctermine�that any part of thc Pmperty iy tiubjut tu a licn which m•ry attain prioriry over _� •
<br /> . . � this Sccurity In�trumcnt, l.cndcr may gicr Burruwer a noiire idcntifying the lien. Borm�ver,hall tiatitity the licn or take one or .
<br /> marc of'thc acti�mti�ct f��rth ahuvr within 10 day�of thc giving of nulicc. �
<br /> - form 3028 9180 �
<br />.. ' • ' oa90�ul 6 - - .
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