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<br /> . 97� it���'��. ' -
<br /> � TQGETHER WITH all the impravements now or hereafter erected on the property, and easements, ; . '——
<br /> appurtenances,and fixtures now or hereafter a part of the propetty.All replacements and additions shall also be covered �
<br /> by this Securitq Instrumen�All of the foregoing is refected to in this Security Instrument as the"Property." � . �
<br /> BORRQNER COVEIVANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to f . �.,
<br /> ' grant and convey the Pmperty and that the Property is unencumbered,eacept for encumbrances of record. Borrower �. .
<br />_ } warrsnts and will defend generallp the title to the Praperty against all claims and demands,subject to any encumbrances .
<br /> of record. � •
<br /> ' 7I-IIS SECURITY INSTRUMENT combines unifarm covenants for national use and non-uniform covenants�rith � - �- - - � -
<br /> limited variations by jurisdiction to constitute a uniform security instrument covering real property. � .. � ,
<br /> UNIFO1tM COVENANTS.Borrower and Lender covenant and agree as follows _ � .
<br /> i.Payment of Principal and Iaterest;Prepayment and Lste Charges.Borrower shall promptly pay when due j , ;_;
<br /> � the priacigal of and interest on the debt evidenced by the Note attd any prepayment and Iate charges due under the Note. . '� —
<br /> 2. Funds for Tages and Ins�rance. Subject to applicable law or to a written waiver by Lender, BorroNer shall ,:�;.,: � -
<br /> pay to Leadet on the day monthly payments are due under the Note,until the Note is paid in full,a sum("Funds")for. � •
<br /> (a)qearly tases and assessments w h ic h may a tt a in priori t y over t h is S e c u ri ry I n s t r u m e n t a s a l i e n o n t h e Pro p e r t y;(b) .
<br /> qearly leasehold payments or ground rents on the Property,if any; (c)yearlq hazard or propertp insorance premiums; • :.., •� .
<br /> (d)yearly flood insurance premiums,if aay;(e)pearly mortgage insurance premiums,if any;and(f}any sums payable = • ;
<br /> by Borronrer to Lender.in accor d a nce wi t h t he provisions o f paragrap h 8,i n li e u o f t he pa yment of mort g a ge insurance ._ ���
<br /> premiuma These items are called"Escrow Items."Lender may,at any time,collect and hold Funds in an amount not . ' .�—'
<br /> .•,,�..._;,
<br /> to exceed the masimum amount a lender for a federally related mortgage loan may require for Borrower's escrow , �� _
<br /> account under the federal Real Fstate Settlement Procedures Act of I974 as amended fro� 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,L.ender may, , ` i'�r=�-���
<br /> at anq time,collect and hold Funds in an amount not to esceed the lesser amoont.Lender map estimate the amount of � ;;�_;',:;�: �'_
<br /> • Funds due on the basis of cc:..-snt data and reasonable estimates of e�penditures o:zL�ture Escrow Items er otherwise in - �--_,� �:.:,
<br /> accordance with applicable Ia.c. .
<br /> The Funds shall be he'.d in an institution whose deposits are iasured by a federal agency,insirumentality.or entity .- : ''�`�
<br /> :�
<br /> (including Le��.°r,if Lender is such an institution)or in any Federal Home Loan Bank.Lender shall apply the Funds ta� -��+ -
<br /> ;. pay the Escrow Items. I.ender may not charge Borrower for holding and applying the Funds,annually analyzing the . . _ � "�• ''�_�=--
<br /> escrow account,or verifying the Escrow Items,unless Lender pays Honower�nterest on the Funds and ap�licable law ,� �
<br /> permits Lender to make such a charge. However, Lender may require Borrower to �ay a one�time charge for an .. � .,'�i� ,:r
<br /> • independent real estate tas reporting service used by Lender in connection with this loan,unles.s applicable law provides A •; •' � .
<br /> otherwise.Unlzss an agreement is made or applicable law requires intsrest to be paid. Lender shalt not be required to �;-:.�,,. ; :;�T.:r
<br /> �. pay Bonower any interest or earnings on the Fuads.Bonower and Lender may agree in writing,howevet,that interest .,.... .. ";; ; .;�;
<br /> ' shall be paid on the Funds.Lender shall give to Borrower,without charge,an annual accaunting of the Funds,showing .V�� . •� _
<br /> � c�:ts and debita to ihe Funys and the purpose Por which each debit to the Funds was made.'The Funds are pledged as y� •} ` ,..i; :.'
<br /> � aCritional security for all svs�s secured by this Securitg Instrument. ��t �+ '
<br /> If the Funds held bp Lender esceed the amounu permitted to be held by applicable law,Lender shalt account to ,~�`,�_ =;.� i•�� ��.
<br /> �`` e9 PP �•- -:'
<br /> , Borrawer for the escess Funds in accordance with the r uirements of a licable law. If the amount of the Funds held
<br /> � by Lender at any time ia not sufficient to pay the Escrow Items when due.Lender may so notify Honower in writing, ,x;;:�: �
<br /> ' an in such case Bonower shall pay to Lender the amount necessary to make up the deficiency.Bonower ahall make • �'r.�` ��.
<br /> d, '
<br /> �, up the deficiencq in no more than twelve monthly payments,at Lender's sole discretion. �•=� '����
<br /> .: Upon payment in full of all sums secured by this Security Instrument,Lender shall promptly refund to Borrower '•'
<br /> •_�.��-.,
<br /> . �. any Funds held by Lender. If,under paragraph 21, Lender shall acquire or sell tha Property, I.ender, prior to the ..,�...�_ -
<br /> acquisition or eale u4 the Ptoperty,shall apply any Funds held by Lender at the time of acquisition or sale as a credit �:�,�,.�,�.�Y�, ,
<br /> against the sume secured by this Security Instrument. .. ��;�,�, _
<br /> . 3. Applicetion of Payments.Unless applicable law provides otherwise,all payments received by Lender under � _
<br />• ', � paragrapha 1 and 2 shall be applied:first,to any prepayment charges due under tha Note;second,tn amounts payable Y •
<br /> �� under paragraph 2;third,to interest due;fourth,to principal due;and last,w any late charges due under the Note. "'.•��``�'�
<br /> 4. Gharges; Liens. Bonower shall pay all taaes,assessments, chargea,tines and impositions atttibutable to the .�-�,�� "'
<br /> ` Property which may attain priority over this Security Instrument.and leasehold paymente or ground rents, if any. '�;�;a�, ~ u
<br /> ' _ � Bonower ahall pay these obligations in the manner provided in paragraph 2,or if not paid in that manner,Borrower �,
<br /> ` �� ehall pay them on time directly to the person owed payment.Borrower shall promptly furnish to Lender all notices of "�•��' �'" �.-
<br /> ',� amounts to be paid under this paragraph.If Borrower makes these payments directly,Borrower shall promptly furnish -��'-;'�LL�`�°•`'=�' --
<br /> ,..... ,�,..
<br /> �; to Lender receipts evidencing the paymente. � � • '. �
<br /> Bonower shall promptly discharge any lien which has priority over this Security Instrument unlesg Borrower:(a) _
<br /> �..4.+: •
<br /> . � agrees in writing to the paqmem of the obligation secured by the lien in a manner acceptable to Lender;(b)wnteats in �. • •
<br /> . � good faith the lien by, or defends against enforcement of the lien in,legal proceedings which in the Lender's opinion .
<br /> operate 4o prevent the enforcerr.ent of the lien:or(c)secures from the holder of the lien an agreement sati s 4actory to • �_ - � � �
<br /> • Lender subotdinating the lien to thia Security Inatrument.lf Lender determines that any part of the Property is aubject ��`°��-'�`"�'°�'
<br /> � to a lien wiuch may attain priority over this Security Inatrument,Lender may give Borrower a notice identi4ying the � � _
<br /> �•� lien. Borrower ehall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of -
<br /> ,�
<br /> ,� natice. . . • . � ,
<br /> � � Form 302a 9/�.� ; � . •
<br /> 1 �—BRWqros�txo� P�9�2 of e i��t�eic�1 i . . �
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