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<br /> . TOGETHER WITH all the improvemeats now or hereafter erected on the property and a11 easements,appurtenances.and �. , , �_
<br /> ftxtures now or hereafter a parc of the property. Ali replacements and additions shall also be covered by this Security � ;�
<br /> Instrument.All of the foregoing is referred to in this Securiry Instrument as the'Property•' � • . • .�
<br /> BORROWER COVENANTS that Borrower is lawfulty seised of the estate hereby conveyed and has the right to grunt and � . :. .
<br /> convey the Property and that the Property is unencumbered, except for encumbtances of record. Borrower warranu and will � . _ �.,�_
<br /> defend generally the title to the Properry against all claims and demands.subject to any encumbrances of record. 4 ..
<br />- THIS SfiCUR1TY INSTRUMENT combines uniform covenants for national use and non-unit'orm covenanu with limited j � ` s_,
<br /> variations by jurisdiction to constitute a umform security instrument covering real property. �' . � - f , ", -_
<br /> . UNIfORM COVENANTS.Borrower and Leader co�t and Late C�f es�Borrower shall prompdy pay when due the k � � . � " —
<br /> . 1. P'ayment ot Princtpal and Interest: PrepaYm � ! •. •. --
<br /> principal of and interesc on the debt evidence�by the Note and any prepayment and late charges due under the Note. t ; . ,_• _
<br /> 2. Funds for Texes and Insurance.Subject to applicable law or to a written waiver by Lender, Borrower shall pay to . • _
<br /> Lender on the day moathly payments are due under ihe Note,until the Note is paid in full.a sum t'Funds") for:(a)yearly taxes i_ ��.
<br /> and assessments wtuch may attain priority over this Securiry Instrument as a lien on the Properry;(b)Yearly leasehold payments _ __ -
<br /> or ground rencs on the Properry,if any;(c)yearly harard or property insurance Premiums:(d)Y��Y flood inairance premiwns. t _ ,:
<br /> . if any: (e)Yearly mortgage insurance premiums. if any:and(f�anY Susns Payable by Borrower to l.ender. in accordance with � .' � �°_".=��, .
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<br /> the provisions of garagraph 8,in lieu of the payment of mortgage insurance premiums•These items are called"Fscrow Items." I , :�=�;�^��_�� _
<br /> s VA_
<br /> Lender ma y, at an y[ime, collect and hold Funds in an amount not to exceed the maximum amount a lender for a federally �.� � . � _._
<br /> reiated mortgage loan may require for Borrower's escrow account under the f e d e r a l R e a l E s t a te S e t d e m e n t P r o c e d u r e s A c t o f •:�,,. --t-
<br /> ,. .,� .: ,.
<br /> 1974 as amended from time to time, 12 U.S.C. Section ll�tl and ho d Fu�nds m�an amount not o exc.eed the lsesser amoun.t � _
<br /> ma at an time, co ��, "'.
<br /> s e t s a l e s s e r a m o u n t. I f s o, L e n d e r y, Y . _„�,_,�,�-_
<br /> Lender may estimate the amount of Funds due on the basis of current data and reasonable estimates o f expen di n u e s o f f u w re . _ �J��.
<br /> Escrow Items or otherwise in accordance with applicable law. _ ,. ,� �.a_.
<br /> :�. The Funds shall be held in an insa[ution w�ose deposiu are insured by a federal agency, instrumentality. or enrity , •�_-_,
<br /> (including Lender.if Lender is such an institution)or in any Federal Home Loan Bank.Lender sUall apply the Funds to pay the : �',,±�;�
<br /> + Escrow Items. Lender may not charge Borrower for holding and applying the Funds.annually analyzing the escrow account,or � '� J �
<br /> .j verifying the Fscrow Items,unless Lender pays Borrower interest on the Funds and applicable law petmits I.ender to make such '".'"�'. _
<br /> a charge.However,Lender may require Borrower to pay a on e-t i m e c h a rg e f o r a n i n d e p e n d e n t r e a l e s t a t e tax r e p ortin g service : � .
<br /> • . used by I.ender in connection with this laan. unless apPlicable law provides otherwise. Unless an agreement is made or �
<br /> � applicable law requires interest to be paid,l.ender shall not be required to pay Borrower any interesc or earnings on che Funds. •� �
<br /> Borcower and Lender may agree in writin8.however,tha[interest shall be paid on the Funds. Lender shall give to Borrower, . :. .:,}�. �..:�'`� '� �•:
<br /> without charge, an annual accounting of the Funds, showing aediu and debiu[o the Funds and the purpose for which each _ `
<br /> e Funds was made.The Funds are pledged as additional security for all sums secured by this Securiry Instnunent. . `'� ' •� —
<br /> debit to th � ��`` ` �
<br /> If the Funds he13 by L.ender exceed the a�o:sits permitted to be held by applicable law,Lender shall account to Borrower ..`ri ' - '3`,
<br /> � for the excess Funds in accordance arith the re9uiremeau of applicable law. If the amount of the Funds held by Lender at any �
<br /> • time is no[sufficient to pay the Fscrow Items w�en due.Lender may so notify Boaower in wricing,and.in such case Borrower �����"• - �., `�
<br /> . shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than �,�—�F��
<br /> twelve monthly paymenu,at Lendei s sole discrerion. `. �--
<br /> Upon paymeac in full of all swns secured by this Securiry Instrument, Lender shall prompdy nfund to Boaower any ��` ,_ ,,..f --,;
<br /> � Funds held by Lender.If.under paragraph 21. Lender shall acu,uire or sell the Property,Lender,prior to the acquisition or sale ,°�� a�,;.:. �
<br /> . of the Property,shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by : •��
<br /> . this Security Insuumeat. �• -• -
<br /> 3.Application of Payments.Unless applicable law provides otherwise.all payments received by Lender under paragraphs �=�-�:�Y
<br /> � � 1 and 2 shall be applied: first,to any prepaymen[chuges due under the Note:second,to amounts payable under paragraph 2: _ � -..—--
<br /> third,to interest dae;fourth,to principal due;and last.[o any late chazges due under the Note. �� "'�"''
<br /> � 4.Char�ges;Liens.Borrower shall pay all taxes,assessments,charges, fines and impositions anributable to the Property ' ;s:�� ..____
<br /> ' � which may attain prioriry over this Security Instrument,and leasehold payments or ground rents, if any. Borrower shall pay ` •,�:=
<br /> .. , .�.a..�-,:
<br /> these obligations in the manner provided in paragraph 2.or if not paid in that manner.Boaower shail pay them on time direcdy =��---
<br />, to the person owed payment.Borrower shall promptly fumish to Lender all notices of amounu to be paid nnder this paragraph. . -�•�i�_.'..:
<br /> If Borrower makes these payments directly,Borrower shall promptly fumish to Lender receipts avidencing the payments. . �' j'
<br /> � � Bonower shall prompdy discharge any lien which has priority over this Security Instrument unless Borrower:(a)agrees in � .���.,w^ .:F^
<br /> . writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b)wntests in good taith the lien :�_ •,
<br /> by. or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the �j .
<br /> enforcement of the lien;or(c)secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to �
<br /> � this Security Insttument. If Lender detemrines that any part of the Property is subjett to a lien which may attain priority over .. � � � �'
<br /> � this Security Instrument.Lender may give Borrower 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 notice. �
<br /> � Form 3028 9190 , . •
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