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<br /> TOU�THBR WITM nll the improvemente now or hereafter erected on the praperty,unJ ull easements, appurtenunces,and
<br /> fixtureti now ar hereaRer a purt of the praperty. All replacements anJ additions shall ulsa be covered by this Security
<br /> Insttument. All of the foregoing is n:ferred to in this Sccurity Instrument as thc"Pro}xrty."
<br /> BORRt�WER COYBNANTS thnt Borrower is lawfully�selseJ af thc estute hereby conveyeci und hu�the right to grant aml
<br /> convey the ?roperty and that tl�c Property is unencumbcred,except for encumbrances of rerord. Aorrower wattunts und will
<br /> defend generully �he tide w d►e Prupe�iy uguinst aU cluims�uxl dcukuxls.nubJcce lu a�ty u��umbeances of retord. �
<br /> THIS SECURITY INSTRUMEN'T combines unifarm covenants for nutionul use und non-uniform cavennnts with Itmited
<br /> variations by jurisdiction to constitute a uniform security instrument covedng real property.
<br /> UNIFORM COV�NANTS.Bonower and Lendcr covenant and agrce as fallows:
<br /> 1. Pnyment af Prtncipal and Interest; Prep�yment and Late Charges. Borrawer shall promptly pay Hhen due the
<br /> principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br /> 2. Fluulv for Tuxes aad Guurance. Subject ta applicable law or to a writtcn waivcr by Lender, Borrowcr shall pay to
<br /> Lender on the day monthly payments ure due under the Note,until the Note is paid in tull,a sum("Funds")for: (a)yearly ta�tes
<br /> and essessments which may attain prioricy over this Security Instrument as a lien on the Property;(b)yearly leasehold payments
<br /> ar ground rents an the Property.if any; (c)yearly hazard or property insurance premiums:(d)yearly flood insurance premiums,
<br /> if any; (e)yearly mortgage insursu►ce premiums,if�ny; ancl(� any sums payable by Borrower to l.ender, in accofdnnce with
<br /> the provisiasu of pu.�agraph 8.in lteu of the payment of m�ariguge insuranc�e premiums.These items are called "Escraw Ttems."
<br /> Lender may, at any t�rrie, callect and hold Funds in an amount not to exceed the mnximum amaunt a lendar far u fedcmUy
<br /> related mortguge loun imay require for Borrower's �scrow account under the federal Renl Estate Settloment Procedures Act of —
<br /> 1974 us amended ftn;n time to time, 12 U.S.C.Section 2601 et seq. ("RESPA"), unless another Isw that applla to the Funds
<br /> sets a lesser amount. If so, Lender may, at any tirne, collece and hold Funds in an amount not to exceed tha lesser amount.
<br /> Lendor muy estimatc the amount of Funds due on the bs�sis of current data and reasonable estimates of expenditures af future
<br /> Escrow Itams or othenvise Irt accordance with applicuble law.
<br /> The Funds xhall �e held in an institutlon whose deposits are insuced by a fe�ierul agency, ins!rumentality, ur�ntity
<br /> (including L.ender, if Lcnder is such un institution) ar in uny Federal Homc Loan Bank.Lender shnll apply thc Funds to pay the
<br /> Escrow Items.I.endar may not charge Borrower for holding and npplying the Funds,annuully anulyzing the escrow account.or
<br /> verifying the Bscrow Items, unless I.ender pays Borrawcr intcrest on the Funds und appl[cuble law permtts Lcnder to make sush
<br /> a chuge.However. I.endcr may rcyuire Borrowcr ta pay a onc-time churge for un ind�pe��dcnt real cwtute tax rcpnrting service
<br /> uEed by Lendcr in rnnnectton with this loan, unlcss uppUcuble law provides otherwise. Unless an r�gr�cmeut is made or
<br /> appticable taw roquires inrerest to be paid, I.ender shell not dc reqwred to psy lsorrowcr uny interest or eaminga on the�unds.
<br /> Borrower and L.ender may agree:n writing, howcver,that interest shall be pald on the Funds. L.ender shall give ta sanawer,
<br /> without charge, an annual accounting of the Funds,showing credits and debtts to the Funds und the purpose for which each
<br /> debit ta the Funds was made.The Funds arc pledged as additional securtty for all sums secu�ed by this Securiry Instrument.
<br /> If the Funds held by I.ender excad the amounts permitted to be held by appllcublc law. Lender ahall account to Borrower
<br /> for the excess Funds in accordance with the requirements of upplicable law. If the amount of the Funds held by I.ender at any
<br /> t�me is not suffleient to pay the Escrow Items when due.Lender may so natify Borrower in writing,and,In such case Bomower
<br /> shall pay to Lender the amount ner,essary to make up the deficiency. Borrower shall make up the deficiency in no more thsu�
<br /> tvielve monthly payments.at Lender's sole discretion.
<br /> Upon payment in fuli of all sums secured by this Security Instrument, Lender shall promptly refund to Bonower any
<br /> Funds held by Lender.If.under paragraph 21.i,ender shall acquire or sell the Property.Lender.priar to the acquisition or sale
<br /> of the Property. shall apply any F1rnds held by Lender at the time of acquisitIon or sale as a credit against the sums secured by
<br /> this Security InsUUment.
<br /> • 3.Applkxtlon of P�yments. Unless applicable law provides otherwise.all payments received by Lender under paragraphs
<br /> ' t and 2 shall be applied: first, to any prepayment charges due under the Note; second.to amounts payable under paragraph 2; .
<br /> third,to interess due:fourth.to principal due;and last,to any late chazges due under the Note.
<br /> 4.Charp.e.v;Llens.BtiTrnw�T SII�I�AY aIl tRxG4, a�sessments,charges, fines nnd impositionr..attributable tn the Property
<br /> �. which may anaia pdority over this Security Instrument,c►nd leasehold payments or ground renu, if any. Borrower shall pay
<br /> these obligations in the manner provided in paragraph 2.or if not paid in that munner, Borrawer shall pay them on time directly
<br /> to ttie person owed payment. Borrower shall prompdy fumish to Lender all notIces of amounts to be paid under this paragraph.
<br /> � If Bornower makes these payments directly.Bonower shall prompdy fumish to Lender recelpts evldencing the payments.
<br /> . Borrower sh�ll promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)ngrees in
<br /> writing to the payment of the obligation secured by the lien in a manner acceptable to L.ender;(b)contests In good falth the lien
<br /> by. or defends ngntnst enforcement of tho lien in,legal proceedings which !n the L.ender's opinton operate to prevent the
<br /> enforcement of the iun;or(c)secums from the holder of the lien an agreement satisfactory to Lender subordinating the lien to
<br /> this Socurity Instrument. If Lender detemijnes that any part of the PropeRy is subject to a lien which may attain priority over
<br /> this Security Instrument, Lender may give Borrower a notice identifying the lien. Bornower shs�ll s�ttisfy the lien or take one or
<br /> mon of the actions set forth above within 10 duys of the giving of notice.
<br /> ' Form 3028 9/90
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