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<br /> 'tOGE�'HER WITH uU thc improvcments naw on c�rcafter cr..ctcd on thc property,and ull casements,uppurtcnunccs,und
<br /> fixtures nc�w on c�rcuftcr a pAn of thc praperty. All replacemenis And additions shull ulso bc covcrcd by this Sccurity
<br /> Instrumcnt. All of thc foreguing is rcfcrr�ci to in this Sccurity[nFtrumcnt as thc"Property."
<br /> BORROWER COVF.NANTS thet Horrowcr is Inwfully sciscd of�hc cstatc hcrcby convcycd nnd has thc right ro grant and
<br /> convey the PropeMy and that the Property is unencumbcred, except for encumbrunces of rccorcl. Borrowc�warrants und will
<br /> defend generally the title ta the Property against all clnims and demands. subject to any cncumbrunces of recard.
<br /> THIS SECURITY INSTRUMENT combines wiiform covenanta for nutional use and nan-uniform covenarits with limited
<br /> vi►riatlons by jurisdictlon to constitute p uniform security instrument wvcring real praperty.
<br /> UNIFORM COVENANTS.Borrower and l.endcr covenant and ugree as follaws:
<br /> 1. Pnyment oi Principal and interu�t; !'repayment and Gnte Charges. Borrowcr shall promptly pny whan due the
<br /> principtd af nnd intcresc on the debt evidcnccxi by the�Jrste and any pre{xayment and late chnr�es due under thc Notc.
<br /> 2. Funds far Taxc.w nnd Ingurnnce. Subject to r��a�slicable law or to a writtea� waiver by Lender, Banower shaU p�y to
<br />, I.ender an the dny monthly pnymcnts are due under the Note,until thc Note is paid,in full,a sum("Funds")far: (a)yearly taxes
<br /> and a.ssessments which may uttuin prtority over this Cccurity Instrurnent as a lien nn the Praperty; (b)yearly leasehold payments
<br /> ar graund rents�n thc Praperty,if any;(c)yearly haz;ud or pr��periy insuranr.e premiums;(d)yeurly flood insurancc premiur�s,
<br /> if any; (e)yearly mortgage insurance premiums, tf any; and (�any sums payable by Iiorrower to Lender, in accordunce.with
<br /> the provisions of p;u�ngrupl►8, in lieu of the paymcnt of mortguge insurance premiums.These items an:called"Escrow Items."
<br /> Lender may, at any time, collect and hald Funds in an amaunt nat to excecd the maximum amount a lender for a federally
<br /> relnted martgagc loan muy require for Borrower's escrow account under the federa! Reul Bstute Settlement Procedures Act af
<br /> 197A as umended from timc to timc, 12 U.S.C. Section 26Q1 cr sc�r�,("RF.SPA"), unlcss an�thcr luw thut applics to the Funds
<br /> sr.ts A Iesser nmount. If so, l,cndcr muy, at nny tink. collect und hnld funds in un amc�uiit n��t to cxceed the Icsscr umaunt.
<br /> [.endcr mny crtimatc thc amaunt c�f Fundti cluc on thc busiti of currcnt datu nixl rcii�unublc crthniitcti of cx��xlitures cif futurc
<br /> 6xcruw Items c�r otherwfse in uccardui�ce with uppHcublc luw.
<br /> The Funds �;hull hc I�cld In un inatituti�m whii�c de{x�yUn ure insurcd hy u fcYlcrul ugcncy, instrumentulity, or entity
<br /> (including Lencicr,iP Lc�xicr Ie�such un institutiun)or in uny Ncdcrul Hunx I.oun Hunk, I.c�xlcr tihull upply thc Futxls tU puy the
<br /> �scraw Items. Lender muy n��t churge 8nrrower for holding und applying the Funds, unnuully unulyr.in�the escrow account. nr
<br /> verifying thc Escrow Items,unlc.r•�I.endcr pays&�rrowcr intcrest on the Puruls uncl applicable luw permits I.endcr to make Fuch
<br /> ' a ctiaige. Ho:�ezer, L�ndzr m��rc�clrc Surro�er sa pa;a nnc•tlmt rh�gc fnr nn Independent rcal estate tax reporting service
<br /> used by I..endcr in conncction with this laan, unless uppUcublc luw pr�vides otherwisc. Unless an agreement is made or
<br /> . Applicable law requires interest to be paid, Lender shall not be required to pay Borrowcr any interest or wmings on the Funds.
<br /> : Bottowcr and Lender mny agrce in writing, howevcr. thut intcrest shall be paid on the Fund9. i,ender shall give to Bonower,
<br /> without char�e. an annual uccounting of the Funds, showing credits s�nd debits to the Punds and the purpose for which each
<br /> debit to the Funds was made.The Funds ure pledged as additional security for nll sums secured by this Security Instrum�nt.
<br /> If the.T�unds held by i.cnder exceed the amounts permittal to be held by npplicable law,Lender shall account to Borrower
<br /> � far the excoss Funds in accordancc with Ute rcquirements of uppliauble lew. !f the amount of the Nunds held by Lender at any
<br /> time is not sufficfent to pay the Escrow Items when d�+e.Lender may so nocify Bonower in writing,and,in such cnse Borrower
<br /> shall pay to Lender the amount necessary to make up che deficiency, Harcower shull make up the deficiency in no more than
<br /> .. twelve m�nthly payments,At Lender's sole discretion.
<br /> : Upon payment In full of all sums secured by this Sccuriry Instrument, Lender ahull promptly refund ta Bonower uny
<br /> Funds held by Lender.If,under pangraph 21. Lendcr shall Acquire or sell thc Property,I.ender,prior to the acquisition or sale
<br /> . of the!'roperty, shull apply any Funds hcld by Lcnder at thc timc af ncquisition or s�le as a crcdit against thc sums secured by
<br /> � this Security Instrument.
<br /> 3.Applicntion of Payments.Untess applicable law provides otherwise,all puyments received by[.ender under parAgraphs
<br /> 1 and 2 shull be applied: first. to any prepayment chargcs duc undcr the Notc; second,to amounts payable under pai�agraph 2;
<br /> ' third,to interest duc;fourth,to principal due; und last,to any late charges duc under the Note.
<br /> 4.Churges;Llens. Borrawer shall pay ali taxcs.assessments,charges,tines und lmpositions attrtbutable to the Property
<br /> which mny attain priority over this Security I�strament, and leasehold payments or ground renGs, if uny. Borrower shall pay
<br /> these obligations in the munncr provided in parugraph 2,or if not paid in that munner, Borrower shull pay them on time direstly
<br /> . to the per�or,owed payment. Borrower shull promptly furnish to Lender all notices of umounts to be paid under this puragraph.
<br /> ; If Bonower makes these payments directly,Borrower shull pramptly furnish to Lender receipts evidencing the payments.
<br /> � Borrower shall promptly dischargo any lien which has priority over this Security Instrument unless Borrower:(a)agrees in
<br /> writing to the payment of the obligation secured by the lien in a mamier ncceptable to Lender;(b}contests in good faith tl�e lien
<br /> . by, or dcfends ngainst enforccment of thc licn in, icgal procceciings which in the Lcnder's opinion aperutc to prevent the
<br /> enforcentent of tl�e licn; or(c)sccures fmm the holder of thc lteti an agreement sutisfACtory to Lender subordinating the lien to
<br /> ; this 5ccurity Instrumcnt. If Lendcr Jetetrnines that any part of ttie Prapercy is subject to a lien which may attain priority aver
<br /> •� this 5ecurity Instrument, Lender may givc Borrower a notice ideneifying the lien. Borrower ehull sutisfy the lien or tnke one or
<br /> more of the actions set fimh above within 10 duys of rhe giving of noticc.
<br /> � Fam 3028 9/80
<br /> P�pe t of 6
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