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<br /> � � `` ` TOGEfHER WITH all the improvements now or hereafter on the pr�pect�y and all easements, � �� ,�` :.. �
<br /> , �.� appurtenances,and fixtures now or hereafter a part of the property.All replacements and additions shal�also be wvered , `
<br /> . by this Security Instrumen�All of the foregoing is referred tu in this Seruriry Instrument as the"Property." . ,
<br /> � .. �',- � �
<br /> "". ` BORRO�VER COVE.NAN'I'S that Borro�ver is lawfully seised of the estate hereby oom�eyed and has the right to .:,,.,,•...? k
<br /> grant and convey the Property and that the Property is unencumbered,eacept for encumbrances oi record.Borro�►er
<br /> � warrants and will defead generaUy the title to the Property against all claims and demands,subject to any encumbrsnces __�� � ••
<br /> " -��.�-?-: of tecord - . �
<br /> � . THIS SEC�JRITY II�TSTRi.J1liENT combines uniform covenants for national nsa and non-uniform covenants with --- -` '
<br /> "� • limited variations by jurisdiction to consiitutea uniform secvrity instrument cavering real property.
<br /> t `� . UMFORM COVENANTS.Bosrower and Lender wvenant and agee as folloar� • - .
<br /> "�' .,�:�j l.Payment of Principal and Intetest;Prepayment and Late Charges.Borrower shall promptlypay when due ' - -_
<br />'�`� . i the principal of and intecest on the debt evidenced by the IJote and any prepay ges due under the Note. �
<br /> ment and late char
<br /> . , '• ��� 2. Funds for Tases and insurance. Subject to applicable law or to a written waiver by Lcnder. Borrower shall ` '
<br /> _ , �,�t pay to Lender on tAe day monthly payments are due under the IVote,until the Note is paid in#utl.a sum ("Funds")for. ' .• -
<br /> • ", ' ' . (a)yearly tases and assessmen�which may attain priority over this Secarity Instrument as a lien oa the Property;(bj •,';;
<br /> -.� � . , yearly leasehold payments or ground rents on the Property,if any; (c)yearly ha�ard or property insurance premium� `'�-`' •-
<br />_'' (d)yearly flood insurance premiums,if any;(e)yeatly mortgage insusance premiums,if any;and(f)any sums payable .:>;-`.:'
<br /> �� � ' by Barrocver to Lender,in accordance with the provisions of paragraph 8,in lieu of the payment of mortgage iasurance � �'�•--
<br />��j��.- ,. .. . . .
<br /> prerniums.These items are calied"�scrow Items."Lender may,at any time,collect and hold Funds in an amuunt not •
<br />_ ' to egceed the masimum amount a lender for a fedemlly related mortgage loan may require for Borrowec's escrow "; � ___
<br /> ';.: � acco►mt under the federal Real Estate Settlement Procedures Act of 1474 as amended from time to time.12 U.S:C. '" ���_ " �
<br /> � Section 2601 et seq. �"RESPA"),unless another law that applies to the Funds sets a lesser amount.If so,Lender may, • �,:'__=
<br /> . � at any time,coUect snd Dold Funds in an amount not to esceed the lesse�-amount.Lender may estimate the amount of - �=;--:L--
<br /> Funds due on the basis of curcent data and reasonable�stimates of espenditures of future Escrow Items or otherwise in .. . . _—
<br /> ; � " accordance with applicable law. -: � �__
<br /> ' � . ' The Funds shaU be held in an institution whose depasits are insured by a federal agency,instrumentality,or entity : ' �''�
<br /> �• . ..
<br /> . � � (including Lender,if Lender is such an institution�or in any Federal Home Loan Bank.I.ender shall apptp the Funds to k,6.� '
<br /> - � � pay the Fscrow Items.Lender may not charge Borrower for holding and applying the Funda, annually analyzing the . -_
<br /> , , escrow account,or verifying the Fscrow Items.unless I.ender pays Borrower interest on the Funds and applicable taw .,,,;� �i
<br /> ;;: � , permits Lender to make such a charge. However. l.ender may require Bonower to pay a one-time charge for an , "� •-. -
<br /> � ' independent real estate tax reporting setvice used by Lender in connection with this loan,unlesg applicable law provides "' '` ���=-
<br /> � �� " otherarise.Unless an agreement is made or applicable law requires interest to be paid,Lender shall not be required to '-=-_=
<br /> i . ,'�:. t,i�_
<br /> � ` pay Borrower any intecest or earnings on the Funds.Horrower and Lender may agee in writing,however,that interest . , ,;;;�;
<br /> ' shall be paid on the Funds.Lender shall give to Bonower,without charge,an anne�al accounting of the Punds,showing • . ::�•'.;�:.
<br /> ' credits and debits to ihe Funds and the purpose for which each debit to the Funds was made.The Funds are pledged as _ ' ' •• =�`•
<br /> additional se�urity for all sums sei,vti-ed by this Security Instrument. ' '�• ��.�'�_�='
<br /> If the Funds held by Lender esceed the amounts permitted to be held by applicable law,Lender sl�all account to . . �`;��.
<br /> "' --- Borrower for the excess Funds in accotdance with the requirements of applicable l�w.If the amount of the Funds held _ __
<br /> � ' �..+ by Lender at any time is not sufficient to pay the Fscrow Items when due,Lender may so notify BorroNer in wriiing, . ' ��'
<br /> _ and,in such case Borrower shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make • �, ��'���'`�'
<br /> • up the deficiency in no more than twelve manthly payments,at Lender's sole discretion. : :,��.,�;
<br /> .. � Upon payment in full of aU soms secured by this Security Instrument.Lender shall promptly refund to Borrower . . .,�_:
<br /> � .' . any Funds held by l.ender. If, under paragraph 21, Lender shall acquire or sell the Property. Lender, prior to the �� •• ��
<br />� � � acquisition�or sale n�the Property,shall apply any Funds held by Lender at the time of acquisition or sale as a credit . � � � �x.•
<br /> � ' against the sums secured by this Security Instrument. � "-
<br />- 3. Application of Payments. Unless applicable law provides otherwise,all payments received by Lender under .,�`�
<br />_ patagraphs 1 and 2 shall be applied: firsc.to any prepayment charges due under the IJote;second.to amounts payabte .. � .
<br /> � under paragraph 2;third,to interest due;fourth,to principal due;and last.to any late charges due under the Note. • •
<br /> 4. Chatges; Liena. Borrower shall pay all taxes.assessments.charges. fines and impositions attributable w tha • • . .
<br /> • • . ' Property which may attain priority over this Security Instrument,and leasehold payments or graund rents, if any. . , �
<br /> . ' Borrower shell pay these obligations in tAe mannet provided in paragraph 2,or if not paid in that mannes,Borrower , _ ; .
<br /> .• ' � � • shall pay them on time directly to the pesson ozved payment.$orrocver shall promptly furnish to Lender all notices oY , •
<br /> amounts to be paid under this paragraph. If Borrower makes these payments directly,Borrower shall promptly futnish • � . ' .
<br /> ' , to Lender receipts evidencing the payments. . �. .. �
<br /> � ,: Borrower shall promptly discharge any lien which has priarity ove!this Security Instrument unless�orrower. (a) • '
<br /> • - . � . agrees in tivriting to the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)cont�ts in �. ' , . .
<br /> good faith the lien by,or defends against enfarcement of the lien in, legal proceedings which in the Le�►der s opinion . �
<br /> _'• ' ' ' operate to prevent the enforcement of the lien; or (c)secures from the holder of the lien an agreement satisfactory to •
<br /> • • !� l,ender subordinating the lien to this Se�urity Instrument.If Lender determines that any part of the Property is subject � ' :
<br /> , � �� to a]ien which may attain priority over ihis 5ecurity lnstrument,Lender may give Barrower a notice identifying the . �
<br /> lien. Iiorrosver shaU satisfy the tien or take one or more of tAe actions set forth above evithin 10 days of the giving of
<br /> '� notice. .
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<br /> � i Form 302 90
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