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<br /> ' . � TOGETHER�VITH all the improvemenu nnw or hereafter eredcd on the property.and aii easemenu,appurtenances.and '
<br /> � . fixtures now or hereafter a part of the property. Ail replasements and ndd'etions slrall also be rnvered by this Securiry � ` '
<br /> . ' ' . .' � Irutrument. All of the foregoing is referred to in this Secwity Instrument as the"Properry."
<br /> BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby rnnveyed and has the right to grant and �` � � ,
<br /> � convey the Property and that the Properry is unencumbered, except for encumbrances of record. Borrow•er wamanu and wilt `'� •
<br /> '"�x�`: defend generally the title m the Yroperty against all ciaims and demands,subjert to any encumbrances of record. '• �..
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<br /> '� � ` THIS SECURITY INSTRUMENT combines uniform covenants for nauonal use and non-uniform rnvc�anu with limited •,��- ��-
<br /> � ' " � variatio�s by jurisdiction to constitute a uniform security i�scrument covering rea!property. . --�°-'"�'
<br /> � UNIFORM COVENANTS. Borrower and l.ender covenent and agree as follows: `���r�� ' �
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<br /> "" l. Paymeat of Principal and tnterest: Pcepayment and Late Charges. Borrower shatl pmmptly pay when due the .t " ��
<br /> • � principal of and interest on the debt evidenced by the Note and any prepayment and late charges d¢e under the Note. '*:� ' ;
<br /> 2. Funds far Taxes and In.suiance. Sub}ect to applicable law or to a written waiver by Lender, Borrower shall pay to ,
<br /> • = Lender on the day monthly paymenu are due under che Note,umil the Note is paid in full.a sum("Funds")for.(a)yearly taxes -
<br /> and assessments which may attain priority over this Security Instn�ment as a lien on the Property:(b)yearly leasehold payments ;:•'':.�� ;`�
<br /> � ' . ar ground rents on the Property.if any:(c)yearly hazard ar property insurance premiums:(d)Yearly flood insurance premiwns. % ,..'„';��,;;T��=:
<br /> � , if any:(e)yearly mortgage insurance premiums. if any;and(�any sums payable by Borrower to Lender,in accordance with ' - � .�.
<br /> �_ �' the provisions of paragraph 8,in lieu of the payment of mortgage insurance preminms.These items are called"Escrow Items."
<br /> Lender may, at any time, cot[ect and hold Funds in an amount not to exceed the maximum amount a lender far a federally � --_
<br /> ' � related mortgage lean may requim for Borrower's escrow accaunt under the federal Real Estate Settlement Procedures Act of .' .
<br /> � 1974 as amended from time to time. 12 U.S.C. 5ection 2601 et seq. ("RESPA"),unless another law thal applies to the Funds F, `` 'u��•�'X'r;
<br /> � ' =�?�-�� sets a lesser amount. If so, I.ender may, at any time. collect and hold Funds in an amaunt not to exceed the lesser amauat. � 5• �
<br /> _� � � =� ` Lender may estimate the amount of Fattds due on the basis of current data and reasonable estimates of expenditures of future �;�i�
<br /> -4�.�% Escrow Items or othenvise in accordance with a licable law. � r�"-
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<br /> The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entiry ; �^`�:•:_;�?1Frs
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<br /> , ..� �•,. (including Lender,if Lender is such an institudon�or in any Federal Home Loan Bank.I.ender shail apply the Funds to pay the qa •.m5�-
<br /> ` _ . .,_.� „ Escrow Items.Lender may not charge Bonower for holding and applying the Funds,annually analyzing the escrow account,or ,`�tr,
<br /> . - verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and applicabte taw permits Lender to make such ;, �J;_
<br /> a charge. However.Lender may require Borrower to pay a one•time charge for an independent real estate tax reparting service ' ` �=
<br /> •c used b Lender in connection wi t h t his loan. u n less a lip b le law rovi des ot herwise. Un less an reemen t is m a de or y`��"'���
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<br /> � • '� applicable law requires interest to be paid.I.ender shall not be required to pay Borrowec any interest or eamings on the Funds. "�����•_:_
<br /> ' ' = • ' . Horrower and Ixnder may agree in writing, however,that interest shall be paid on the Fands. Lender shall give to Bonower, �i'�Y:�'3E5,�;=
<br /> � � � without charge, an annual accounting of the Funds, showing credi�s and debits to the Funds and the purpose for which each ` �-=;'`.
<br /> � debit to the FundS was made.The Funds are led ed as additiona!securi for all sums secured b this Securi Instrument. ,� �`'��� �
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<br />_' . ' If the Funds held by Lender exceeci the amounts permitted to be held by applicable law. Lender shall account to Borrower _::�M,.
<br /> , i'or the excess Funds in accordance with the requirements of applicable law. If[he amount of the Funds held by l.ender at any ' • . '��-
<br /> � , ., time is not sufficient to pay the Escmw Items when due.Lender may so notify Bonower in writing.and,in such case Borrower ' "'F�'::
<br /> � ' shall pay to l.ender the amaunt necessary to make up the deficiency. Barrower sfiaU make up the deficiency in no mom than ' ` ` "=.�."-
<br /> � . twelve monthly payments,at Lender'y sole discretion. '��° �`
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<br /> . ' U on a ment in full of all sums �ecureci b thi, Securit Instrumen[, Lender shall rom tl refund to Borrower an "'w��-
<br /> P P Y Y Y P P Y Y -.. �._.�`
<br /> ' ' � '.� Funds held by Lender.If, under paragraph 21, Lender shall acquire or sell the Property.Lender.prior to the acquisition or sate ��_�-^:
<br /> � �b�.
<br /> � , � af the Pmpeny, shall apply any Funds held by Lender at the time af acquisitian or sale as a credit against the sums secured by : ?��_-
<br /> � • this Sccurity Instrument. ' , � ,'� •.
<br /> � •'° ( 3.A Ilration of Pa ments.Untess a licable law rovides otherwise.all a ents received b Lender under ara hs . •� ��� �^
<br /> PP Y PP P P 3'm Y P �A .
<br /> - � • , t and 2 shall be applied: first.ta any prepayment charges due under the Nute: second,to amounts payable under paragraph 2:
<br /> • � � third,to interes�t due:fourth.to principal due:and latit,ta any late charges due under the Note. . ' •:,•
<br /> . 4.Charges: Liens. Borrower chall pay all taxes, assessmentti,charges, fines and impositions attributable to the Property .. ' �•^�-
<br /> • � '.•. which may attain priority over thi.r Security Instrumcnt, and leaschaid payments or ground rents, if any. Borrower shall pay , ' ,:;
<br /> . . ' thesc obligations in the manner provided in paragrdph 2,ur if not paid in that manner. 8orrower shall pay them on time diret;dy . °
<br /> to the per,on owed payment. Borrower�hall prnmptly fumi�h ta Lender a1! notices of amounts to be paid under this paragraph. . • ,
<br /> � � . If Bonowcr makcs thcsc paymcnts dircctly. Borrowcr tihail pramptly furni�h to l.cndcr rcccipts cvidcrtcing thc paymcnts. , . •
<br /> _ � : Borrower shall promptly di�charge any lien which has priority over thir Security Instrument unless Borra�ver. (a)agrees in " , � :
<br /> _ • ' writing to the payment of the obligation secureci by[he lien in a manner acceptable to Lender:(b)contests in gocxi faith the lien : �
<br /> � � by, or defend.r again�t cnforcement of the licn in. Icgal procculingti which in the Lender's opinion operate to prevcnt the
<br /> • � ' cnForcement of thc lien:nr(c)�ecures from thc holder of the licn an ugrccm:.nt satisfactory to Lender subordinating thc lien to ' � .. .
<br /> ,. �his Security Intitrument. If Lender determinet that any pan of the Property is subject to a lien which may attain priority over , • .
<br /> this Security lnstrument. Lcnder may�ive Borr��wer a natice identifying the lien. Borrawer shall satisf'y the lien or take one or • �
<br /> . ' . morc�f thc actions,et fi�rih abovc within 10 day�of thc gi�in�uf nuticc.
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