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<br /> TOGETHER WITH all the improvements now or hereafter erecced oa the property. and all easements. aPPurtenanses. and , � , , r:
<br /> fixaues now or hereafter a part of the properry. Atl reptacements and additions shalt also be covered by this Securiry Instnuuent• , ,
<br /> All of the foregoing is referred to in tbis Securiry Insuument as the°PropenY•� , -
<br /> BORROWER COVEIdANTS that Borrower is lawfiilly seised of�he estate hereby conveyed and has the right to gratu and ..
<br /> convcy dee Progerty and that the Property is unencwnbered, except far encumbrances of record. Bonower waaants and will ,• .
<br /> defend generally th�ade to the Property against all claims and demands.subject w any encumbrances of record. ,
<br /> THIS SECURTfY INSTRUMENT combines ucuform covenants for naaonal ase and non-uniform covenants with limited i
<br /> •'� variations by jurisdiction to constitute a uaiform security iffim�ent covetitsg�eal property. � _ : .
<br /> � UN�ORM COVFNANTS.Borrower and Lender coveuant and agree as follows: _.
<br /> 1.Payment of Principal and Y�erest;Prepaymeut aad Late Charges. Borrower shall prompdy pay when due the '. ..
<br /> principal of and int�rest on the debt evidenced by the Note and an3+preFaYment and late�harBes d��r the Nou. �
<br /> 2.Ftimds for TaBes and?��+*�+"�'P. Subject to aPplicable law or to a writien waiver by I.ender. Boaower shall pay w
<br /> I.er�der on th�day monthty paymcnts are due under the Note,until the Nou is paid in full.a sum("Funds")for:(a)Yeaz1Y�s :
<br /> and assessme�s u+hich may auain prioriry over this S�cauiry Insu'��**±ei!t as a lien on the Property:(b)Year1Y leasehold payments _ :
<br /> or gound rents on the Property.if any:(c)Year1Y�azard or pmpercy insuranc�premiuws:(�Yearly flood i�n,*��premiums,if -, `� :
<br /> � atry; (e)Yearly mortgage insurauce premiums. if an}r; and(�any sums PaYabie by Borrower to Lender. in accordance with the
<br /> provisions of paragraPh 8. m lieu of the payment of mortgage ins�uance premiums. 'ihese items are called "Escrow Items." .
<br /> Lender may,at any time,collect and hold Funds in an amount nat w exceed the maximum amrnmt a lender for a federally related , _.
<br /> mortgage loan may require for Borrower's escrow account under[he federal Real F�tate Settlement Procedures Act of 1974 as . . �
<br /> amend.ed gom time co time. 12 U.S.C.Seciiou 2601 et seg. ("RFSPA').unless another law that aPPiies to the Funds sets a lesser � ..
<br /> � amouns. If so. Lender may. at an}+ titne. collect and hold Fuads in an amount not w eaaed the lesser amount. L.ender may . . '.
<br /> esrimaEe the amount of Fuads due on the hasis of aurent data aad reasonable estu�natea of e�cpenditures of flinue F�crow Items or F . �
<br /> otherwise ia accordaace with applicable iaw. ' , " ' �=
<br /> The Fnnds ehall6e held in an invritudon whose deposlts are iASUred by a fedeta!agency,instrumenrality,or endry(including : , �
<br /> � L,en,der, if Lsnder is auch an insiltudon) or in any Federal Home 4,oan Bank. Lender shall apply the Funds co pay the Escracv ; . �
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<br /> • Iteu�s, I,ender may not chatge Bonower Yor hotQing and apptying the Ft�nds,annual�y analYzing the escrow accouru.or vedfying , .�
<br /> the Escroa Items,urileas i.ender pays Bonawes iatereat oa ths Funds and applicable law permita l.ender[o malce suc6 a c4arge. t . . �.-,,. '�:°��
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<br /> H ow ever. I.ender ma y n q u ire Bonower to pay a one-Wne charge fot an independeat real eaeau taa reporting servtce used by ( ��"„:,�a .
<br /> l,ender in connection wici�this loan,ualess applicabte law provides otherwise. Ualess an agreemens ie made or applicable law { �1.
<br /> requir�s inserest co be paid, Lender shall nat be required co pay Borrower any interesc or eamings on the Fus►ds. Borrower and � . � � � , . _.
<br /> I,ender may agree in wrinag.however.that iuserest shall be paid on the Funds.Lender ahall give to Borrower.arithout chasge.an ,. . � , ..
<br /> anaual accounting of the Funds,showin8 cretits and debits w the Funds and t1�e putpuse for which each debit to the Funds was
<br /> made.'Ihe Funds are piedged as additional sewriry for all sums secured by this Secusity Insu�ment. �. � �x� ;�;
<br /> ' If the Funds held by Lender exceed the amounts permitted to be hetd bY aPPlicable law,Leuder sball accouai W Bonovrer for
<br /> { the excess Fands in accordance witli the requiremenrs of applicable 1aw. If the amount of the Fvnds held by Lender at any time is . . �`;E
<br /> � not sufficient w pay the Escrow Items when due,I.ender may so notify Bonower in writing,and,in such case Boaower shall pay .--.__.....�'f'�VF,� �
<br /> � w I.ender thc amount necessary to mak� uP the deficiency. Borrawer shalldmake up the deficiency in no more t�an twelve YS
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<br /> monthty paymenis.at Leader's sole discreaon. -, �:-• .T�;=
<br /> • Upon payment in full of all sums secured by this Security Insuumen�Lender shall promptly refund to Borrower azry Funds . rr�',_
<br /> • . held by Lender. If.nnder paraSraPh 21, Lender shall acquire or sell the Ptoperty. Lcnder,prior to tLe acquisition or sale of the •: ,��.: °.
<br /> ' Property. shall apply any Funds held by Lender at the time of acquisition or sale as a credit aoainat the sums secured by this . . • �. -.
<br /> Sec.urity Insuumetu. � -
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<br /> • • 3.App4icatton of Payments. Unless applicable law provides othetalse.a�payments received by Lender under paragraphs ,
<br /> . • 1 and 2 shall be applied: 5rst, w any prepayment charges due under the Note: second. w amounts payable uader para�aph 2: • Y��'
<br /> tLird,to interest due;fourth,w PrinciPal due:and]ast,w any late cl�arges due under the Note. • � :'?�''�`
<br /> 4.Charges.Liens. Boaower ahall pay all taxes. assessments.chargea. fines and impasidons attributable w the Property . . ,� r.° ,
<br /> which may attain priority over this Security instrument,and leasehold payments or groimd renrs.if any.Borrower shall pay these •
<br /> � obligadons in the manner provided in paragraph 2,or if not paid in tLat manner.Borrower shall pay them on time directly to the '. '.,�:r,.:°M-
<br /> . . person owed payment. Borrower shall pmmptly furnish w Lender all notices of amounts to be paid under this paragraph. If W°"...
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<br />� Borrowar makes these paymenrs directSy.Bonower shall prompily fwnish to Leuder receipts evidencing the payments• � • T , —
<br /> Boaower shall prompdy dLgcharge any lien ahich has prioriry over tLis Sec,urity Insuument unless Bonower: (a)agrees in : :
<br /> writing to th�payment of the obligation secured by t�e lien in a manner acceptable w I.eader: (b)conusts in good faith the lien _
<br /> by. or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate w prevent the . _
<br /> � enforcement of the llen;or(c)secures from tbe holder of the lien an agreement satisfactory to Lender subozdinating the llen to � .
<br /> this Secutlty Instrumeat.If Lender deteimines that anY part oY the Property is subject to a lien which may attain prlorlry over this r .
<br /> Suvrity lnswment,Lender may�ive Bonower a no6ce identifying the lien. Bonower ahall satisfy the lien or take one or more I
<br /> of the acdons set fonh above within 10 days of the giving of noflce. I.
<br /> Form 3028 9190 :
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