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<br /> ' TOGETHER�VTI'H all the improvements now or hereafter erected on the property.and all'easements.appurtenances.and . .
<br />- � ` , . 6xuues now or hereafter a part of the PmPercy+. Ail replacements and additions shall also be covered by this Security , _
<br /> � ! lastn�ment.All of the foregaing is referred ta in this Securicy Inswment as die"ProPcrtY•� I. : . ,
<br /> i ` i BORROWER COVENAN7'S that Borrower is lawfully seised of die estate hereby comeyed and has the nght to giant and � � _ `. .
<br /> ' { camey the Praperty and t6at the Property is unenc�lre�ed,except far encambrances of record. Borrower wanants and will � ` � ;
<br /> `� ' i ' �i defend generally the tide to the Praperty against all claims and demauds.subject w any encumbrances of record. ' . �
<br /> _ � - -; THIS SECURITiI IIVSTRUMENT combines uuiform covenants fir�atioffi!n..re and noa-unifoun co�enants with liraited `- --..::_�:._._..
<br /> � > vatiatians by jurisditxioa to constitute 1 nniform se�.vtity incYn�m�oovering tea]pmpertl►• k
<br /> 3;, � UMFORM COVENAt�Tf'S.Bonower and Lender covenani and agree as follows: • .�`�.'`
<br /> 3' . 1. Paym�t of P�3ndpal and I�a�est; PrnpaYm�t and Late C1�arges. Borrower shall gmmptly pay when dne the f �, . .- - :. �
<br /> '� .. • p r i n c i pal of and inierest on the de6t evidenced by the Note and anY PrePayment and late cuarges due under the Note. . . .. ..
<br /> ` � �.Fands for Tases aad Iasurance.Snbject to applicable law or to a written waiver by Le n d er. Borrower s h a ll pay t n '� ,! r. `.�
<br />.y-. � `.� Lender on the day monthly paymenu are dae under the Note,undl the Note is paid in full,a sum(°Funds")for.(a}yeazly taxes , . . ;'.
<br /> -' ' . and asse�_e"r�wtuch may attain piiority over thic Seeuriry In.strument as a lien on the Property:(b)Year1Y leasehold payments , �-..�_`"_
<br />��j � ,,,`� or grownd n�ts on the Property.if anY;(�)Y�Y hazard or propercy�insatauce Premiums;(d)Yearly fload iasaz-ance premi�s. . .• �.-; .Y '
<br /> ' , � remiums, if an and(�anY s�ms PaYa Y _ . � ;� .
<br />�;�� if any: (e)Ye�Y mortBaSe insa�ance P Y; ble b Borrower to Lender.in accordanre with � :. ,s_°
<br /> '�,. _.
<br /> � the pmvisions of pangtaph 8, in lieu of the payment of mortgage insurance premi�s.T h e se items are c a l l e d"E s c r o w I t e m s.° - —
<br /> �:.. . .
<br /> #, Lender may,at az►y time, collect and ho2d Fands in an amonnt not w exceed the ma�cimum amoant a lender for a federally '�;
<br /> ;; � for Hoaower's escrow acconnt nnder the federal Real Estate Settlement Procedures Act of _ . .�;�•�:'�
<br /> related mortgage loan maY�I� � . �`.,,.��,�`..
<br />=�; • , 1974 as amended from time to tcme, 12 U.S.C.Secxion 2601 d seq.(°RESPA'),unless another law tBat applies to tbe Funds .,,,.,, �` . :a.,:�;:_
<br /> ; ' � sets a tesses amaant.ff so, i.ender may, ai any time.coIlect and hotd Fnads ia an amount not w exceed the lesser amwnt. «�_
<br /> ;•—='
<br />' i• I�n�r may esamate the amaunt of Funds dne on die basis of cunent data and rr�onable��mates of expenc�iuu�es of fatate = �
<br /> ' ' � Escrow Items or otheiwise in accordance with applicable law. ,
<br /> �j. -.
<br /> �;. 'I9�e Fnnds shall be held in an institution whose deposits aze insured by a federal agency. +�c�nm,e�±+�uty, or entity
<br /> �.-.` :.�
<br /> � ' (mciuding Leader.if l.euder is sach an institation)or in any Fedezal Home Loan Bank.Lender shall appiy the Funds to pay the .• � �
<br /> '-:�-i . _ Essiow Items.Lender may not charge Borrower fos holdiag and applqlug the Funds.a�nually analyzing the eserow acconnt,or �_..,
<br /> '. , .q _�
<br /> :,-� . • ,,;;,-y _a--_
<br /> verifying the Sscrow Items,unless Lencler PaYs Borrower interest on the Fuads and applicable law pemrits I.ender to make such --
<br /> . � a charge.However,Lender may requine Boaower to pay a one-time charge far an independent real estate tax reporting service , � ,'�:�-_-.
<br /> �. . �,..r
<br /> :..' � . '� ased by I.e n d er i n conn�tion wi t h t h i s lo a n, u n l e s s a p p li c a b l e l aw pravides otherwise. Unless aa agceement is made os �-.''.:,r�.:
<br /> �t�;; • � ��� applicable law mquims interest w 6e paid,Ixnder shall not be requiied to pay Bomnwer aaq intetest or earniags on the Faads. �°-'-"-
<br /> ' Borrower and l.ender may agree in wciting.however. tuat interest shall be paid on the Funds. Leuder shaU give to Borrower, . •, t..3�"..
<br /> I`�' F without charge, an annual accounting of the Funds, showiug credits aad debits to the Funds and the pwpose for w6icL each .
<br />_ .� `_,�?.
<br /> debit to the Fands wac made.�e Funds are pledged as additional security fnr all sums secured by tLis Securiry Instcwuen� u
<br /> r .�=��._
<br /> . . � ' If the Funds held by Lender exceed ehe amnunts persnitted tn bC held by applicable law.Lender shall accouut to Bom�wer , • •;��
<br /> �'� for the excess Funds iu accordaace with t�e cequirements of applicable law. If the amount of the Funds held by I.ender at any �%'ti=
<br /> � time is not sufficient to pay the Escrow ltems when due.Lender may so notify Borrower in writing.and.in such case Borrower •'°��;�
<br /> . � sbail pay to Lender the amount necessaiy co make up the deficieacy. Burrawer ssf�all make up the deficlency in no more thau . �' ��' �
<br /> a! ���..��
<br /> . t... ta+elve montWy paymeats.at i.ender's sole discredon. " . `'��`'
<br /> �� - Upon payenent ia full of all sums secured by d�is Security Instrumen� Lender shall prompdy refnttd to Borrower any ���
<br />-,:�. . . . . -
<br /> ;:
<br /> � • Funds held by L.ender.lf.onder paragraph 2I.l.ender shall acquire or sell the Property,Lender.pdor to the acquisition or sale _ �.�
<br /> of the Property,shall apply any Funds held by I.ender at the time of acquisition or sate as a credit against the sums secured by :�`
<br /> �
<br /> ,:: . this Security Insuament. - -
<br /> _;: � 3.Applicatton of Payments.Unless applicable law provides otherwise.all payments received by Lender under paza�aphs � :: . "-
<br /> 1 and 2 shall be applied: first.to any prepayment charges due ander the Note;second,to amounts payable under paragraph 2; ' ;�
<br /> ;;�'� third,to interest due:fonrth,to principal due;and last,to any late charges dne under the Note. : � : •.
<br /> •;.�,.� • 4.Charges; Liens. Borrower shall pay all ta�ces,assessments.charges,fines and imposi6oav ataibutabte to the Prnperty . . .
<br /> . which may attain priority over tWs Security Instrument, and leasehold payments or ground rents,if any. Boaower shall pay . _ • . ,
<br /> these obligadons in the maaaer provided in paragraph 2.or if not paid in tl�at manner,Borrower shall pay them on time directly
<br /> " ro the person owed payment. Borrower shall prompdy furnish to Lender all notices of amounts to be paid under tLis paragraph. �
<br /> If Boaower makes these payments direcdy.Bonower shall prompdy fumish to Lender receipts evidencins the payments. � „
<br /> �� Borrower shall prompdy discharge any lien which has priority over this Security insuaraent unless Boaower.(a)agrees in � �
<br /> `�' writing to the payment of the obligaHon secured by the tien in a manner accxptable to Lender.(b)contests in good faith the lien ,
<br /> . by. or defends against enforcement of the lien in. le�al proceeclings which in the Lender's opinion operate to prevent the . :
<br /> �;� • � enforcement of the lien;or(c)secures from the holdet of the lien an agreeraent satisfactory to Lender subordinating the lien to �
<br /> •• this Secwiry Instn�ment. !f Lendet determines that any part of the Property is subject to a lien which may attain priority over I . . . • �.
<br /> : this Securiry Insuumen� Lender may pve Borruwer a notice identifying the lien. Bnrrower shaU satisfy the lien or take oae or f �
<br /> more of the acdons set fonh above within 10 days of the giving nf notice. .
<br /> i
<br /> �.'°� Form 3028 9190 f . � .
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