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<br /> TQQETEIBR WlT a e rovemsats now or hereafter erected on �hc property, and ull eaae�enu �
<br /> ' � uttenancai,uul flxturcs raw or here�ttet •put of the property All rcpl�cm�enta wd�dditlane�h�ll al�o be covere� _
<br /> � ypthis Secucity Iasuument.All of the fo[egoing ls referred to in tble Securlry InttrumM►t aa t�e Property. �--
<br /> BORROWF.R CQV�NANT91h�t Bonower ie lawfully seiaed of tho eeuta hrreby cameyed and has the right ro gruit and �_
<br />_ .- : ��` convey tde Property and thu the Prapetty ie uneacumbeted� eacept for snctuubrar�ce�of rccorQ. Borrowcr wuru�te wid
<br /> � will defend geaer�l ly the title to t�e P r operty aga i n�t a l l c i d m s n nd dm�anda,eub Ject to uay encumbrnaces of cecord.
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<br /> �� THIS SECUAITY INSTRUMEl1T COIIIIlII1C9 UI1lCOftil COV2AAI11fi f0I [1.1IIOIlAI Usc und non-uniform cov�nants with Iimital [�•
<br /> vari�tion�by Jurlsdietton w wnaNtute s ualfocm atcurity lastrunnAt covering re�l pmpercy
<br /> ����"�� UniroxM Cov���+rs.Borrower end Lead�r covenant aadag[ee�followe: _-
<br /> 1.PAymeat ot Prtndp�l and Interad; Prep�Ymen�utd Late Chac�cs. BorroWer ehall pm►riptly pay whea due _
<br /> the princlpal of and interest on the debt evidcncod by the Note and any prePxYmrn�ead lato chaxges due wtder ttte Note.
<br /> 2.Fund4 for TAxes tnd In�urana. Subject to applicable law or to a wrlttea waSver by Leadcr, Borrower ehall pay
<br /> • �• to I.eader ou the day moatLly ps�ymeau are duo undor the Note.until We Note is paid ia full,a sum ("Funda")for: (a)
<br /> yearly taxes and assessments wtilch may attala priority over this Security lastrument as a llea on iho Property; (b)YaarlY
<br /> � leasohold paymente or ground nats on the Prope�cy. if eny:(u)Yearly hezard or property fasunnce premituns� (d)Y��Y
<br /> flood insurance prezaiumv. if any;(e)Yearly mortgage insurnnoa prenatnms�if any: aud(�enY sums payable by Bomowor
<br /> to I.onder, ia accordanoe wlth the Provisians of pAragraph 9� ia lieu of the pAyment of mortgage iqsutance premiwnc•
<br /> -� These items Ace callod'Sscmw Items."1.ender m�y.at any time,cuUect aad hold Funds in an amount not to�xeced the
<br /> � miaximum amount a lender for a federaUy nl�tod mortgage loan uwy c�eqidm for Horrower's escrow accouat under the
<br /> federal Real Eateto Setticmeat Pracedures Act of 1974 as amended itnm tlme to ti�e� 12 U.S.C. � 2601 d seq.
<br /> � � ("RBSPA"),uNess aaotl�'law thutapplies to the Funds aets a le,gser�aount.If sa,Leader mry, at any time,collect�nd
<br /> � hold Funida ia an anwuu► not to exceed th��aser am°u�t•L�tdsr may esdm�to the amnuat of Fundr due an the basie of �_
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<br /> .. ' curnnt data and reasonable estimaces of expeaditum.�of future Escrow Itoms or othenvise in�acordance with applicable
<br />- � law.
<br /> � The Funds ehall be held in an insdtudon whose deposits are insund by a federel sgency,inanumeatallty,or enbry
<br /> _ •w ' (iacl gLeader, if Lenda is auch an insdtution) or in any Fed�ral Home Loan Bank. Leader shell apply the Puads to
<br /> • pay t h e E s c m w I t e m s.I.ender may not chu ge Borrower for holding and applyiug the Funds, anautUy tw�lY�B��
<br /> ,�.,-: :, escmw account. or vrrlfyiag ibe B s c r ow Itaas.unless 1.ender paya B orrower inunst on the Funds au dapplicable law
<br /> - '.,,,�:� ' , per m i t s L e n d e r t o m a k e s u c h a c h a r g e. However, Leader ma y roquire Borro�'er to pay a ono-time chuge for m
<br />-r�:�. ;_� independeat real estate taa reporting secvice usod by Leader in cannection with thie loan,unless applicablc law provid¢s
<br />- • otheivviae. Unless an agreement is made or applicable la�+requires inurest to be paid,Leader ahaU aot be required to pty
<br /> '-`:l�:�x Bomuwer aay iaurest or eatninEa oa the Funds. Borravrer and L,eader may agree in wrl�,however�that interest shall be
<br />�''>":�,.�' paid on the Funde. Leader ahall give W Borrower,without charge,an aanuol accoundn��g a tlie Funds.showing creditn end
<br /> y`' ,' `� dcbits ta the Funds and thep se for which e�ch debit to the Funds w�s made•'Ihe Fnada are pledged as additioaal
<br />��c°,�,±•. ., e e o ., �rnri;v insmi[nwt.
<br /> �xurity fo:.0..�zt....tcursxl h,
<br />=w;'°�«>'� If the Fuads held by Ixnder exce�the emounts permitted to be 1�eld by applicab►e taw, �.ender a6wil accouni io
<br />"`�`"'�t�=r.' Borrower for tt►e exc,ess Fuads ia accardauce wlth the nqutrements of applicable law.If the amouat of the Fnnde held by
<br />=����`-�� L.endar at any dme is not suffccient to pay the�scrow Items when due,I.ender may so aottfy Borrower in writing,aad,ia
<br />.'�%wi� auch case Bormwer shaU pay w Lender the amount necessarY to malce up the deflciency. Borrower shaU malce up the
<br /> - _ deficlwcy ia no more than twelve monthly pAyments,at L.ender's sole discntton.
<br /> '�`==�i-'� Upon payment ln full of all swnv saured bY this Securl Instn�ment,Lender shell pmm�tly nNad to Homnwer
<br /> _�� � perty, T.eader, prior to the
<br /> _�.�_-� any Fuads held by Leuder. If, un�ter paragreph 21, Leader 1 �cquire or sell the Pro
<br /> acquiaition or sale of the Pro�erty. shoU ApPly any Funds held by Lender at the timc of scquisidoa or eale as a cndit
<br />�'""�'`�� agtinst the su�soetued by tWs Secudty Inatrument. � a ��ived b Lender under
<br />�-""1�� 3. A�11catton of Paymeata. Unlc.as aPplicable law pmvtde�otherwise,
<br />--����� a meat charges due under the N�eecond. to amounW pay�ble
<br /> —;. ...:�,r� puagrapha i-and 2 s6�11 be appliod: first.w aaY Pr'�P Y
<br />—._''�'=•�i°� under puagnph 2;thlyd, w intarest due;fourth.w prIncipal due;and last.to aay latcchar�es due under the Nou.
<br /> �� 4. Chargesi Lkns. Borrower ahall psy all taxcs.agsessmeats. ch es. fina and imposidons attributable to the
<br /> — pmperty which may attein priority.over. this Socur[ty Instrumeat, end�l�sehold paymenta or ground reata, if my.
<br />'�"•�° Borrower sh�il pRy tttese obUgsHons m the msc�ner pmvided in paragraph 2� or if not paid in that m�mner.Borrower ehell
<br /> _�- ---- pay them on time directly to the persun owed payment. Borrower ts dirPecdy�,Borrowe r tahall procmptly furnieh t L.eader
<br />__=--_—� to be patd under this PuaBn►Ph. If Bocrowcr milcrs these paymen
<br /> --- ' receipts evidcncing the payments.
<br /> - - Borrower ehall p�mptly discherge nny lien which has pdority over this Sa�urity Insuument onlesa Borrower:(a)
<br /> ___-_-- agras in wrIti�ng to We payment of the obllgatton secured by the lien in a manner sec.spteble to Leader; (b) contesta ia
<br />_ good faith the lien by,or defends agdnst eaforcement of the liea ln. legal procadiaga whlch in the L.ender'e opinloa
<br /> - opernu to prevent the enfoz�cemeat of the lita;or (c) secures from the holder of the liea w agroement auisf�ctory to
<br />���_ - I.wder subordinatiIag the llea to this Sxurity Instcument.If L.ender determiaea that any put of the P�roPertY��aub9ect to a
<br />� lien which may attain prtodty over thls Secudty Inatrumeat, lreada maY 8ive Boaower a nntia idar g t�e Ikn.
<br /> ���:� Borrower sh�ll sadsfy the Urn or take one or mon of the actions set forth abdve within 10 daye of the giving of notice.
<br /> S.H�arrl or Property Ina�u'ance. 8ormwer shall keep the improvements now existing or hereafter erected on the
<br />—�;.:�;� propeity insured agalnat loss by fire, haEande included wlthin the term "exteaded coverage" and eny other hazards,
<br /> Form 3028 9/80 fp+ps 2 0l 61
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