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<br />. � TOGETHER WITH all the improvemenu aow or hereafter e�cxed on the property,and aU easemenu,appurtenaaces,and ��. ;
<br /> � fixtures now or hereafter a part of the property. All replacements aad a�diaons shall also be covered by this 5ecurity
<br /> - _ ; in�rrnme�±f.All of the foregoing is refemed to in dris Security Iastrument as the"Pnoperty." . , --
<br /> . BORROWER COVENANTS tbat Borrower is lawfiilly seised of the estate hereby conveyed and has the right to grant and : v � .
<br /> ' coneey the Properry and that the Properry is unem.�umbeted,exoept for encumbrances of record. Borrower warrants and arill : • . , .
<br /> i defend generally the 6de to the Property a„�ainst all claims and demands,subjea to any encumbraacss of reoord. ` �
<br /> � THIS SECURTPY INS'TRUM�+NT combines uniform covenants for national use and non-uniform covenants with limited � � ' ` � }= � .
<br /> ; variations by jurisditxioa w constiwte a uniform seauity in�r�„�nt�vering�+eal prnperty. ' .
<br /> • I U1�IIFORM COVENANTS.Borrower aad Lender covenant and ageee as follows: � � . �
<br /> ..i 1. Paymeat oi Fdnr�ipai and L�teresh Pe+ePayment end Late C6aiges. Bormwer shal!P�mPtiY P$Y when due the ' ' .`,
<br /> `� principal of and interest on the debt evidenced by the Note and any prepaym.,.,nt and late charges due under the Note. ` � ' -. ` •. � -:
<br /> 2. Faads far Taxas aad Iamrance. S�bject to applicable law or to a writtea waiver by L.ender,Bormwer shali Pay w .`.,;,x:_--=:�.
<br /> Lender on the day monthlY Payments are due�ader the Note,until the Alote is paid in full,a sum('F�mds')for.(a)yearly eaxes • —
<br /> and ass�ssments which may attain priority over this Secnrity tn�,*��±*as a lien on the Property;(b)Yearly leasehold payments . � • - ; -
<br /> S
<br /> � or ground rents on ths i'mperty,if aaY:(C)Yeatly t12T��d o1'ploperty inanranCe plemiUms;(d)YeartY flood insurance premiums, ' . . �
<br /> if anY: (e)Yeaziy mortgage insarance premiums, if any;and(�anY sums Pa3'able by Borrower to Lender, in accordance with f � . , .;;^�
<br /> • : the provisions of paragraph 8,m lien of the payment of mortgage insuran�e premiums.These items are called"Ess�row Items." � . ::
<br /> � ` Lender may. ai any time, collect and hold Funds ia an amount noi to exceed the maximum amount a lend,er for a federally � �'�' ��
<br /> related mo e loan far Borrower's escrow account under the federal Real Estate Settlement Procedures Act of . • �`
<br /> .�i �8 �Y�11� , ,,. F�.. %i�'•-
<br /> 1974 as am�nded from time to time. 12 U.S.C. Searon 2601 et seq. ('RESPA"),unless another law that applies w tlie Funds �
<br /> ,' � sers a lesser amouni. If so. Lender may, at any time, oolled and hold Funds in an amotmt not to exceed thc lesser amouni. -'� �'� =�
<br /> . Lender may estimate the amount of Funds due on the basis af current data and reasonable estimates of expenditu�es of fuwre , • `�����`�
<br /> Escrow Items or otherv�+ise in accordance arith applicable law. �,
<br /> The Funds shall be hald in an institudon whose degosits are insure� by a fedeial agency, instrumentality, or enrity � . �.. .
<br /> y ;. . �� ;
<br /> • (including Leader,if Lender is such an institution)or in any Federal Home Loan Bank.I.ender shall apply the Funds to pay the �_ � -
<br /> Fscrow Items.I.ender may not charge Borrower for holding and applying the Funds.annually analyzing ttte escrow aocouat,or • ••,� �� � ?
<br /> verifying the Fscrow Items,unless I.ender pays Boaower interest on the Funds and applicable law permita Lender to make such y - `
<br /> , a charge.However, Lender may require Borrower to pay a on�time charge for an independeat real estate tax reporting service ,.�.�,�•��� •�
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<br /> E used by Lender in co�ecaon with this loan, unles,s applicable !aw provides othecwise. Unless an agteement is made or , , ;�;� ';;
<br /> � applIcable law requires interest w be paid.Lender shall not be required w pay Borrower suy iaterest or esmings on the F�ds. • . � • •`.•=l � .
<br /> , Borcower and Lender may a�ree in writing.hdwever,that interest shall be paid on the Funds.Lender shall give to Borrower, . _ �
<br /> , without charge. an annual accaunting of We Funds, showing ccedits and debita w the Fuads and the purpose for wluch each '�;"
<br /> . debit to the Fuuds was made.The Funds are pledged as addidonal security for sU sum9 secured by this Sea�rity Insuument. ; ,.j�
<br /> • If ihe Funds held by Lender exceed the amownts permitted ta be hetd by applicable law.Lendtr shaU acoount to Bomuwer _ � :,�;�':--
<br /> for the excess Funds in accordance arith the ments of lirable law. If the amount of the Funds held b I.ender at an �`"� ��'�
<br /> �I� aPP Y Y ...:_�4�e:. ..
<br /> time is not su�cient to pay the Escmw Iums when due,Lxnder may so notify Bomower in writing.ar,d,ia such case Bonuwer . �. . ,:,�:..
<br /> shall pay to Lender the amouat neassary to make up the deflcIency. Borrower shall mak,�up tbe defic�ency ia no moie than , . • �-�'��.-_,,.�
<br /> twelve montWy payments,at l.ender's sole discretloa. _ ��':
<br /> Upon payment in fiill of a11 sums secuced by thia Se�.vrIty Insaument, Lender shall pmmptiy refund to Bmsower any .�
<br /> �•� Funds hetd by I.ender.If,�mder paiagraph 21,Lender shall acquire or sell the Property,Leader�prior w the acqaisidon or sate � ` ��
<br /> , _ . of the Property,shali app!y any Funds heid by Leader at the time of acquisition or sale as a credit against We sums saured by . .�� ��-- � '
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<br /> . this Securiry Insuument. �._�„_• -__
<br /> 3.Appllcatlon of Paymenfs.UNess applicable law pmvides othenNise,all payments mceived by Lender under paragzaphs � . --"r"�
<br /> a
<br /> 1 and 2 shall be applled:first,to any prepayment charges due under the Note;second.to amounts payable under pazagraph 2; ' - •• �` �
<br />. � third,to inteiest due;fourth,to principal due;and last.to any late charges due under the Note. • • , ,,,����..-
<br /> 4.Cha�ges;Ideas.Borrower shall pay all taxes.assessments,chzrges, fines and 9mpositions atatbutable to the Property
<br /> which may attain priority over this Se�urity Instrument, aad leasehold payments or ground rents. if any. Bomawer shaU pay �
<br /> these obligations in the manner pmvided in paiagrnph 2,or if nat paid in that manner,Bo:rower shall pay them on dme di�e�tly .
<br /> : to the peison owed payment.Boaower shall prompdy fumish to L.ender all notices of amounta to be paid under this paragraph. �.
<br /> �� If Bomuwer makes thess payments directly,Borrower shall pm�nptly fumish to Lender reteipts evtdencing ihe paymenta. '
<br /> . � Borrower shall pmmptly discharge any lien which has prlority over tbis Security Insuument nnless Bomuwer:(a)agcces in � . .
<br /> writing W the payment of the obligat�on secu�ed by the lien in a manner acceptable to Lender;(b)contests in good faith the lien � . �. . �
<br /> by, or defends against enforcement of the lien in, legal proceedings which ln the Leader's opinion operate to prevent the " •
<br /> �� enforament of the lien;or(c)secures from the holder of the lien an agreement satisfactory to Ltnder subordinating the lien to �
<br /> i this Security Instrnment. If Leader determines that aay part of the Ptoperty is subject to a lien v�tuch may attain priority over ---
<br /> � this Security Insuument. Lender may give Borrower a notic�idenrifying the lien.Bosrower shall satisfy the liea or take one or : ' -
<br /> more of the acdons set forth above within 10 days of the giving of notice. �•���
<br /> �I r•o�+aoza s�so nl�Il
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