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<br /> � ' � TO(3ETHER WFfH all ihe improvements now or hereafter erected on the pmperry.aad aU easemeuts,aPP��� � -, ° _
<br /> funures naw or hereafter a part of dte property. At1 cePlacements and addiuons shaU also be covered by this 3ecuritY <, _
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<br /> � �� [asuument.All of the foregoing is referced to in this Security Instiument as the'Property.' - • -
<br /> =,"`." ' ::._, BOItR01NBR COVENANTS that Borrower is lawfully s�ised of the estate hereby conveyed and has the right to grant and . � �
<br /> � ' `� - . convey the Property aad that the Properry is unencumbered, except for encumbrances of record. Borrower warrants and w�71 ; _.
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<br /> �-� -`-� d e f e n d g e nenll y the utle to the Property agaiast all claims aad detaands,subject to any encumbrauces of record. -- -
<br /> 'i'HIg SECURTTY INSTRUMENT combines uniform covenants for national use and non-uniform covenanu a+i t h l i m i t e d
<br /> , � variations by jurisdiaion to cons[itute a uniform security instniment cover�ng real property. . :�. ��r•-
<br /> � UI�IFORM COVENANTS.Borrower and Lender covenant aad agree as folIows: �''`t ��
<br /> • • • l.Fayan�ent of�iudpal and Interest; Prepaymeat aad Late Ct�ar�es. Borrower shall pmmFUY P� �vhen duc the � , -� ,� ;
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<br /> ent and late charges due under the Note. `.. . , -
<br /> . � piincipal of and interest on the debt evideaced by the Note aad any prepaYm , __
<br />' � Z.F�mds Yor Taues aad Ln.gtusuce.Subject to applic�ble Iaw or to a wriuea waiver by lxader,Borrower shall PaY to .��r �: ",:'"_�
<br /> � • � Lender on the day monthly payments are dw under the Note,unn'1 the Note is paid in full,a sum('Fwids°)for.(a)yeacly Ea�ces ���,-�-
<br /><: , t as a lien on the Pro ,N) earl leasehold payments .
<br /> and assessmenu which may attain priority over this Security Insaamea PeriN' Y Y ��� -
<br /> �': � . or ground renu on the P�+npenY.if any;(c)Year1Y hazard or pmperty iasurance premiums;(d)Year1Y 4lood insntaace Psemiums� . - ,_ (�... __-__
<br /> � '. if an}+;(e)Yeaz1Y mortSaSe insurance ptemiums,if auy:and tfl�3►�PaYab2e by Borrower w Lender,in a000rdanc�with - _
<br /> • . the provisions of paragraph 8.in lieu of the payment of morigage insurance premiums.These items are called"Fscmw Items." .
<br /> t' •. Lendet may, at anY time• collect and hold Fuads in an amomu not to exc�ed the maumum amount a leader for a federally - -
<br /> . . ' • related mortgage loan may require for Borrowec's cscrow accaunt uuder the federal Real Fstate Setuemeat Pmcedures Act of __�-�.�,�
<br /> - . . . 1974 as amended from t�ae to time. 12 U.S.C.Section 2601 et seq.("RESPA'?,���other law that applies w the Funds .; �-�_-
<br /> _ ' _ _ '.� sera a leccsec amount. If so,l.ender may, at anY time, coltect and hold Funds in aa amount aot to exceed the lesser amoun� ,' :��_
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<br /> I.ender may escimate the amount of Funds due on the basis of curre�data and rea�onable esdmates of expenditures of future �4- .
<br /> � ��� Escrow Items or ntherarise in accordance with applicable law. ' ��r:.'�.:=-�R
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<br /> �, The Funds shall be held in an institudon whose d e posits are i n s u r e d by a f e d e r a l a g e n c y, i n s u u m e n t a 1 i t Y, o r e a a ty -':.,.:. _ _� _
<br />' ��f. � � - (including Lender,if Lender Ls such an institution)or in any Federal Home Loaa Bank.Lender sha11 appiy the Fw�ds to pay the _ :. ,'; �;�._�,_
<br /> ' Fscrow Items.Lender ma}+not charge Borrower far holding and apPlying the Funds,annuallY analYzinS th$esc�a acc°u°t,or �3�
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<br /> verifying the Escrow Items,untess Lender pays Borrower interest on the Fuads and applicable law pernrits Leader to make such � �-•�f.;��,
<br /> � • a charge. However,Lender may require Bunuwer to pay a one-time chasge for an independent real estate tax rePorting seNice . ` `;�.�
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<br /> used by Lxnder in connecci�on wit6 this loan, untess applicable law provides otheca+ise. Unless aa agr�nt ' : ��
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<br /> applicable law requires interest to be paid,l.ender shall not be requii'ed to pay Borrower any'interest or eamings on the Fnads. , .; z ,--
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<br /> � Borrower and Lender may agree in writing.however. that interes[shali be paid oa the Funds. l.ender shall give to Borrower, . - ; •,j.,•_.t..:_
<br /> ' without charge, an annual accountinS of the Funds.showing crediu and debits to the Funds and thc ptupose for whicb each . �..:.��r
<br /> debit to the Fuads was made.The Funds are pledged as additional security for aU sums secured by this Security Instnzmen� ;--
<br /> � � If the Funds held by Lender eaceed the amounts permitted co be held by applicai�le laar.l.ender sha11 aocount to B�rrower �-?�r;
<br /> for the excess Fnnds in accordance with the requiremenu of applicable laa. If the amonnt of the Funds held by I.e a der at any . • ;, `
<br />' ''�' � time is not sufficient to pay the Fscrow Item4 when due,Lender may so notify Borrower in writing,and,in such case Boaower . .
<br /> � shall pay to I.eader the amount neccssary to make up the deficeency. Borrower shall make up the deficieacy in no more than , • __
<br /> ;.:. twelve momLly paymenu,ac Lender's sote discrerion. '�4
<br /> t� � Upon payment in full of aU sums secured by this Sewrity Insnument, Lender shall promptly refiucd to Borrower a�r . .:
<br /> : ' Funds held by l.ender.If,under paragraph 21,l.ender sha11 acquire or sell the Property.Lender,prior to the acquisition or sale • �":;-�
<br /> `" . � ' • of the Property.shall apply any Funds held by Lender at the dme of acquisition or sale as a credit against the sums secured by , . =-
<br /> ' . { this Security Instrument. � .. .•_ _
<br /> 1 3.Applic�tton of Peyments.UWess applicable law provides otherwise,aU payments received by I.ender under paragrapl�s
<br /> � i 1 aad 2 sha11 be applied: first, co any prepayment charges due under the Note;second,to amounts payable under pazagraph 2; - .
<br /> . third,co interest due;fourth,to principal due;and last,co any Iate chazges due under the Note. , � � .
<br /> • � 4.Ci�rges;Liens. Borrower s6a11 pay all taxes,assessments,charges, fines and impositions at[ributable to the Property .
<br /> . which may attain prioriry over this Security lnstrument, and leasehold paymenu or ground renu. if any. Borrower shall pay . , .
<br /> • these obligations in the manner provided in paragraph 2,or if not paid in that manner,Boaower sha11 pay them on time dit�ectly . .. .
<br /> � to the person owed payment.Borrower sha11 promptly fumish to Lender all notices of amounts to be paid under this paragraph. . •.
<br /> ' If Bonower makes these payments directly.Borrower shall promptly furnish to i.ender receipts evideacing the payments.
<br /> � Barrower shall promptly discharge any lien which has prioriry over this 5ecuriry Instrument unless Borrower:(a)agrees in . ,.
<br /> � writing to the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)contests in good faith the lien . : � • _
<br /> � . . by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the . .
<br /> � enforcement of the 1ien;or(c)secures from the holder of the lien an agreement satisfactory to l.ender subordinating the lien to
<br /> . . this Security Ins[rument. lf Lender determines that any part of the Pcoperty is subject to a lien which may attain priority over .
<br /> - _ • � this Security Inswment. Lender may give Bonower a notice identifying the lien. Borrower shall satisfy the lien or take one or .
<br /> • � ' more of the actions set forth above within 10 days of the giving of noiice. � .
<br /> � i Farm 302 9/9 .
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