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<br /> TOGETHER W[TH sll the improvement;now or hereafter erected on the propert}.anS all ra.emrnt,, appurtenanccw. anJ : ' _
<br /> tixtur�� nuw ur hereatter a pan of the property. All replacements and addition, shall alx� he ruverc�i M thi, Securit� � •
<br /> Imtrument.All uf the ti�regoing i,referreAi a�in thi,Secunty Instrument as the"Prapeny." � � . '
<br /> BORROWER COVENANTS that Barrower iti lawfully ,eised��f the��tste hereb�•rom•eyed and ha�the right to grant and _ :
<br /> wm�} the Propen} anJ that the Property i� unencumberc�i. except for encumbranreti of rec��rd. Borrawer u�arrsnt. and will - �
<br /> defend generslly the title to th�Property agam.t sll rlaim,and demac�ds,subject tu any en�umhrance.uf rerorJ. ,
<br /> THIS SECUR[TY iN57'RtihiENT �umbines uniform�Y�venants for national use and nnn-uniform cov�nants with limiteci __ _ -
<br /> variationti by jurisdiction to rnnstitute a unifarm+ecuritg imtrument cc�vering:eal propzny. ,
<br /> UN[FORM COI�ENAYTS.Borrowrr and I-ender covenant and agree as follows: •
<br /> 1. Pa�ment of Principal and Interest; Prepayment and I.ate Charges. Bormwer ,hall prompdy pay when due the . .
<br /> principal of and interetit on the debt evidenced by the Note and any prepayment and late charges due under the Note. � ,, �
<br /> 2. Furtds for Taxes and Insarance.Subject to applicable law or to a written wai�er by txnder. Borrower,hall pay to .
<br /> Lender on the day monthly payments are due under the Note,until the Note is paid in full,a sum 1"Funds") for. la)yearly taxes , .._
<br /> and a,x�ssmentc uhich may attain prio:ity over this 5ecuriry tnstrument as a lien on the Property: lb1 yearly leasehold payments ~�'.`"�_ _
<br /> or ground rents on the Property.if any:Ic)yearly hatard or propeny in�urance premiums:Id)year�y Hood insurance premiums. . _ `.=�,.�:�,--�^_
<br /> if any: (e)yearly mongage insurencr premiumti. if any:and 1�any sums payable by Borrower to I.ender, in accordance with •,: , �*.`-�' .�• :�_:
<br /> `,��,'._ ..
<br /> the provisions of paragraph S, in lieu of the payment of mortgage insurance premiums.These items are called"Escrow Items." • ;_,t..r_;;�; :
<br /> Lender may. at any time. collect and hold Funds in an amount not to excced the maximum anu,uni �lende. for a fe'er'ly . �
<br /> related mortgage loan may reyuire for Borrower's e�crow accuunt under the federal Real Ettate Settlement Procedures Act of . .* . T�„�:�:`
<br /> : k�.:�:.
<br />� 1974 ati amended from time to time. 12 U.S.C. Sectic�n 2601 et sey. ("RESPA"l. unless another law thai applies to the Funds . . _ __
<br /> sets a lesser amount. (f so. Lender may. at any time. collec[and hold Funds in an amount not to exceeci the lesser amount. '-� �-' ,;�,�,,:._.
<br /> Lender may estimate the amount af Funds due on the basis of current data and reasonable estimates af expenditures of future .. '"_.� _'�`q�".-
<br /> Fscmw Items or otherwise in accordance with appli�:able law. .. .
<br /> The Funds shall be held in an institution whose deposits are insured by a federal agency. instrumentaliry, or entity �•�.`
<br /> (including Lender. if Lznder is.urh an institution)or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the =►
<br /> Fscrow Items. Lender may not charge Borrower for holding and applying the Fundti.annually analyzing the escrow account, or . �, �
<br /> verifying the Escrow(tems,unless Lender pay+Borrower inter�t on the Funds and appliwble law permits Lender to make such . ` �
<br /> � a charge. However. L.ender may reyuire Borrower to pay a one-time charge for an independent real estate tax reporting service • � �� _.=
<br /> used by Lender in connection with thi� Ioan, unless applicable law provide+ otherwise. Unless an agreement is made or : '
<br /> �:'1 applicable law requires interest to be paid,I.ender shall not be required to pay Borrower any interest or earnings on the Funds. • :'�.:� :' _
<br /> �;��r:•, � , '� .
<br /> •, Borrower and Lender may agree in writing. however, that interest shall be paid on the Funds. Lender shall give to Boaower, . �:,, �
<br /> • without charge. an annual accounting of the Funds, sho�ving credits and debits to the Funds and the purpo.e for which each � .�•' I
<br /> debit to the Funds was made.The Funds are pledged a5 additional securi[y far all sum5�ecured by this Securiry Instrumenc. � ' �j
<br /> • [f'the Funds held by L.ender exceed the amountz permitted to be held by applicable law.Lender shall account to Borrower �••;�:'
<br /> ' for the excess Fund�in accordance with the requirements af applicable law. If the amount of the Funds held by Lender at any __ �• � <<
<br /> time is not sufficient to pay the E,crow Itemti when due.Lender may so notify Borrower in writing,anJ,in sunc�ase Barrawer ��� ,
<br /> shall pay to Lender the amount nece+tiary to make up the deficiency. Borro�ver shall make up the deficiency in no more than t• � -
<br /> , t �-
<br /> twelvc monthly payment+.at l.ender'.�ule diticretion. -�;
<br /> Upon paymen[ in ful) of all ,um+ +ecured by thi, Security Instrument. I.ender shall promptly refund to Borrower any �'������
<br /> ��
<br /> � Funds held by Lender.If,under paragraph 2l, Lender shall acquirc or sell the Propeny,l.ender, prior to the acquisition or sale ___---:.. _
<br /> of the Propeny, shall apply any Funds held by Lender at the time of acqui.ition or sale as a credit agnin,t the sums secured by ��"'�: . ��,.,.�
<br /> this Security Instrumcnt. = ''��
<br /> , .�. _.
<br /> 3.Applteation of Payments. Unless applicable law provides atherwise,all payments received by I.ender under paragraphs __
<br /> � 1 and 2 shall be applied: first,to any prepayment charges due under the Note: second, to amounts payable under paragraph 2; �:;,.�:��, ._.. = '�
<br /> � i third.to interest due:fourth,to principal due:and lait,to any late chazges due under the Note. `
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