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<br /> 97- �0���'7 E: . �. ` : =F
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<br /> TOGETFIER WITH all[he improvements now or hereafter erected on the property,and all easements,appurtenances.and ' ' , � `.
<br /> � fixtures now or hereafter a part uf the property. All replacements and additions shall also be coveted by this Securiry � '•� .,
<br /> � Instrumeni.All of the foregoing is ceferced w in this Security InStrument as the"Property." • • _
<br /> ' BORROWER COVENANTS that Borrower is lawfally seised of the estate hereby comeyed and has the right to grant and E .
<br /> convey the Propertp and that the Property is nnencumbered,excegt for enc�brances of record. Borrower warrants and will :==Y
<br /> i defend generally the dtle to the Froperty against all claims and demands,subject w any encumbrances of record. f
<br /> ., THIS SECURITY IIVSTRtJMENT combines uniform covenants for national ase and non-uniform c:ovenants with limited � s
<br /> ;� variaaons by jurisdicuon to constitute a uniform secucity inst�ument covering real property. y -, _-
<br /> UNIFORM COVEI�TANTS. Borrower and Lender covenant and agxee as follows: � , , � . -
<br /> 1. Payment of Princ3pal and Ini�t; �ayment and I.ete Chargcs. Borrower shall prompdy pay when due the { . � ,_.
<br /> jprinci�►al of and interest oa the debt�videnced by[he Nate and anY P�Yment and late charges due under the Note. i , . ;
<br /> i 2. F'ands for Ta�es and Insurance.Snbject to applicable law or to a written waiver by Lender, Botrower shall pay to
<br /> ixndrr on►hc�Say muun►Iy paymznss a.c 3cc undr:shs?vote.t:ni�l the ri�t?4s gaid in fi,ll,a.,nn{•Fvn�s")for(a)yearly taxes � --- --^- __ -__._ ,_'-
<br /> �. and a��ccmenm wluch may attain prioriry over this Security Insmtmen[as a lien on the Property;(b)Yearly leasehold payments ' , , ' `�-_
<br /> � or gronnd rents on the Property.if any:(c)Yearly hazard or property insurance premiums:(d)Yearly flood in�urance premiums. j , �. • , .�
<br /> if any; (e)yearly mortgage insurance premiu�s.if any; and(tl any swns payable by Borrower to Leader,in accordar►ce with ''
<br /> � the provisions of paragraph 8,in lieu of the payment of mortgage insuiance premiums•'I'hese items are salled"Escrow Items.' �` ' � •"�.'—
<br /> Lender tnay, at any time. collect and hold Funds in an amount not to exceed the maximum amowtt a tender for a fedetally ( '
<br /> related mortgage loan may require for Borrower's escrow accaunt wider the federal Real Estate Settlement Procedur�Act of , , , , �
<br /> 1974 as asnended from time to time. 12 U.S.C. Seciion 2601 et se.�. (°RESPA"),unless another law that applies ta the Funds �:. " t :•.•:,��.�
<br /> sets a lesser amonnt. If so. Lender may, at any dme. collect and h�ld Funds iu an amount nut to excced the lesser anaount. � � .�-�;_•
<br /> Lender may estimate the amount of Funds due on the hasis of curnnt data and reasonable estimates af expenditnres of futute . . . ' .
<br /> Escrow Items or otherwise in accordance wit1�applicable law. . .'..`...��
<br /> The Fvnds shall be held in an insdwtion whose deposits are insured by a federal agency, insaramentality. or entiry ,'��:�'•,j��
<br /> (inctuding I.ender.if Lender is such an insdtudon)or in any Fedexal Hame Loan Baak.L.ender shall apply the Funcls to pay the , � :.; •� !?�'i`
<br /> Fscrow Items.Lender may not charge Borrower for holding and apglying t1�e Fuuds,annually anatyzing the escrow acco�ant.or • `�a ` .�
<br /> _ �_:��ib`�. .. . �,
<br /> verifying the Escrow[tems,unless Lender pays Boaower interesc on the Funds and applicable law peimits Lender to make such �'
<br /> a charge. However,l.ender may require Borrower to pay a one-time charge for an independenc real estate tax reporting service ,
<br /> licable law rovides otherwise. Untess an ag�utnt is �ade or �. .--,=----=-'�--�� ��
<br /> used by Lender in connection with tlus loan. unless apP P � �: — ■
<br /> applicable law requires interest to be paid,Lender sLall not be required to pay Borrower any interest or earnings on the Funds. � � = `
<br /> Horrower and Lender may agree in wridng.however,that intemst shall be paid on the Fvnds. Lender sball pve to Boaower, „. �_
<br /> `
<br /> withoat charge, an anm�al accounting a f t he F u n d s. s howing c re d i t s a n d de bi t s t o t h e F u n d s an d t h e p t u p o s e f o r w h i c h e a c h . . � �~ .•.; _
<br /> debit to the Funds was made.The Funds are pledged as addidonal security for all sums secured by this Security Insnviment. �'�,�.:•� ,'
<br /> If the Fands held by I.eader exceed the amounts pezmiued to be held hy applicable law, Lender shall account to Borrower . � :s•° ���
<br /> for the excess Fands ia accordance with the requirements of applicable law.If the amount of the Funds held by Lender at any - . _ � •='� • r.r
<br /> time is not sof6icient to pay the Escrow Items when due,Lender may so notify Borrower in writing.and.in sach case Bonoaer _.��; _ ��::t��:.�
<br /> shall pay to Lender the amount necessaiy to make up the deficiency. Borrower shall maL•e up the deficiency in nn more than -. -. ;...}���
<br /> twelve montiily payments,at Lender's sole discretion •`j:+'� � '�
<br /> �r
<br /> Upon payment in full of all sums secured by tlris Secarity Instiunient, Lender shall prompdy refand to Borrower any -. �_
<br /> . Funds hetd by Lender.If,under paragraph 21, Lender shaU acquire or sell the Property,I.ender.prior to the acquisidon or sale �-��•''•'� " ':,�_
<br /> ,.. .•. �..
<br /> of the Property.shall apply any F u n d s he l d by L xn der at t he time o f acquisi t io n o r s a l e a s a credit a gainst the s�nns secured h y •.�,�:
<br /> this Secarity Iastn�ent. ' ' : " , "� -
<br /> 3.App1Iq@as of Payments.Unless applicable law provides otherwise,all payments received by L.ei►der under paragraphs , '�" � ��
<br /> 1 and 2 shall be applied: first,to any prepayment charges due under the Note;second,to amounts payable under paiagraph 2; � . `� �.�
<br /> ��•_ �
<br /> tLird,to interest due:founh.to principal due;and las�to any late charges due under the Note. .
<br /> � 4.Charge9; I1eas. Borrower shall pay all ta�ces.assessments,charges, fines and imposidons atuibutable to the Property �. ":�'`e.,�' __ _
<br /> which may attain priority over tlus Security Insunment, a�leasehold payments or ground rents, if any. Bonower shall pay � • .�'�.''_-__
<br /> these obligarions in the manner provided in paragraph 2.or if not paid in tbat manner,Boaower shall pay them on time direqly �
<br /> ..'.;-�w:.--
<br /> to the person owed payment.Borrower shall prompdy fiumish to Lender all notices of amounts to be paid under dus paragraph. . � . .� �
<br /> If Boaower makes these payments directly.Bonower shall prompdy furnish to Lender receipts evidencing the payments. _ �. � •�
<br /> Borrower shall prompdy discharge any lien which Las priority over tlris Security Insm�ment unless Bocrower: (a)a�r�v in - .
<br /> writing to the payment of the obligadon secured by the lien in a manner acceptable to Lender;(b)contests in good faith the lien . . ' • _
<br /> � by. or defends a�ainst enforcement of the lien in, legal proceediags which in the Lender's opinion operate to prevent the . '
<br /> enforcement of the lien; or(c)secures from the holder of the lien an agteement sadsfactory to Lender svbordinating the lien to � �-
<br /> this Security Instiument. If Lxnder detetmines tl�at any part of the Property is subject to a lien which may attain priority over � f-=_;
<br /> this Security Instiument,Lender may give Boaower a nodce identifying the lien. Bonower shall satisfy the lien or take one or , • �.
<br />� more of the acdons set forth above within 10 days of the giving of notice. . . • � .t
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<br /> � Form 3028 9190 I '
<br /> ��-BRINE)ies�s�.o� v�e 2 ot s i�mrc����� f . . —
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