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<br /> 97- 10'7934 �
<br /> '1'UtiETHERWI'I'H aU thc improvcmcnt�snow or herceftcrercctedon thc property,and aU cascmcnts,appurtcnanccs,uad
<br /> . fixtures now or hercafter a part of the property. All replacements and additians shall also be covered by this Security
<br /> I Instrument.All of the foregoing is referred to in this Sccurity Instrumcnt as the"Prope�ty."
<br /> �•+"""'"� BORROWERCOVBNANTSthat Bonower is lawfully sciscd of thc estatchereby convcyed and bas the right to grant and
<br /> ''' '`�"'`� convey the Property and that the Property is unencumbered,except far encumbrance:sof record.�orrowerwarrants and will
<br /> defcad geaerally the titic to the Property against all claims and demands,subject to any encumbraaces of rccord.
<br /> THIS SBCURITYINSTRUMENTcombines uniform covenants for national use and noa-uniform covcaants with limitcd �;.
<br /> variations by jurisdiction to constitute a uniform security instrument covering real prcperty. �'
<br /> UMFORMCOVENANTS.Barrowerand Leuder covenant aad agree as foUows: =
<br /> '``'� � 1. Paywent of Principal and Interest; Prepayment and Late Charges. BonowershaU promptly pay wben duc the �_
<br /> ;;r����' principal of and interest on the debt evidenced by thc Note and any prepaymeat and late cbarges due uader the.Notc. -
<br /> '': � ";'' 2. Funda tor Taxes and Insurance.Subject to applicable law or to a written waiver by l.eader,Borrower s6all pay to
<br /> I.ender on the day montbly paymentsare due under the Note,until the Note is paid in full, a sum("Funds') for: (a)yearly taxes
<br /> � and assessmentswluch may attain priority over this Securiry Iastrumentas a lien on the Praperty;(b)��early leaseholdpayments _
<br /> or grouad renGs on the Properiy,if auy; (c)yearly hazard or property insurance premiums;(d)yearly tlood insuraace premiums,
<br /> � ,': if siny; (e)yearly mortgage insurance premiums,if any; and(� any sums payable by Bonower to Lender,in accordancewith �•
<br /> . the proviaions of paeagraph8, in IIeu of tde payment of mortgage iasuraace premiums.These items are called"Escrow Items." -
<br /> Lender may, at any time� coUcct and hold Funds in an amouat not to exceed the ma�umum amaun2 a lender for a federally ==
<br /> � '�';�• � " related mortgage loan may require for Boaower's escrow account under the federal k2�14 Estate SettlementProcedauesAct of `_
<br /> '�'����:���� .•• "�� 1974 as amendedfrom time to time,12 U,S.C. Section 2601 et seq. ('RESPA"), unless aaotherlaw Ihat applies to the Funds -
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<br /> �' sets a lesscr amount.If so,Lender may, at any time, collect and hold Ftinds in an amount not to exceed the lesser amount. _
<br />- "��_,� ?' Lender may estimate the amount of Funds due on the basis of current data and reasonableestimates of expeadituresof future _
<br /> .,•�,.'.�:.��;�r�,'' ',:, Fscsow Items or otherwise in accnrdance with applicable law.
<br /> �•���`��`'s'�:�' The Fuads shall be held in an insBtution w6ose deposits are iasured by a federal agency, insuumeniali2y,or eatity -
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<br />� � '��`t'f�'.``� � ' (including Lender,if Lenderis such an institution)or in any Federal Home Loan Rank.I.endershall apply the Funds to pay the
<br /> � . �. Escrow Items.Lender may not charge Borrower for holding and applying the Funds,anaually analyziag the escxow account,or
<br /> , verifying the Escrow Items,unless Lcnderpays Bonowerintereston theFtinds and applicable law permita I.enderto makesuch
<br />-; .:,. :;, . a chazge.Hawever,Lendcrmay require Bonower to pay a one-time charge for en indepeadentreal estate tax reporting service
<br />�'�''``"•��� used by i.ender In connecdon with this loan, unless applicable law prnvides otherwise. Unless an ag�reement is made or
<br />��:���.•.`�:.`•:�: applicablelaw requiresinterestto 6e paid,l.endershall not be requtredto pay Borrowerany interestorearning�on the fi�nds.
<br /> '� �_ �� Bonowcr and Lender�nay agrce in writing, howevcr, that intuest shall be paid on thc Fuads.Lendera6all glva to Bonowcr.
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<br />-"`��•r�'�• without charge,an annual accouating of the Funds,showing credits sind dcbits to the Funds sad tde purpcne for which each
<br />��----w�='� debit to the F�tnds was made.The F�nds are pledged as addIt�oaal security for all sums secured by this Securiry Insuument.
<br /> y`"�'�j`�" If tbe Funds held by Lenderexceed the amountspermittedto be held by applIcablelaw, Lendershall acrountto Bonower
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<br />�""`''-:��- far the exccss Funds in accorduncewith the requircmentsof appGcable law. If the amount of the Funda held by Lender at any
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<br /> _ =— . time is not sttf�icient to pay the Escrow Itemswhea due,Lender may so notify Borrower in writing, and,in such case Bonower
<br /> �' '`�-..-�-_-'��� • shsdl pay to l.ender the amouat necessary to make up the defidency. Borrower shall make up the defipency in no more thwn
<br />___�_��-..-� twelvc montWy payments,at l.ender's solc discration.
<br /> Upon payment in full of all sums secured by this Security Iastrwnent,I.ender s6all promptly refund to Bonower any
<br />----:��� Funds held by Lender.If, under Paragraph2l, Lender shall acqnire or seU the Property,Leader,prior to the acqnlsitioa or sale
<br /> ��'��?�?:'J.+ of t6e Property,shall apply any Funds held by Lender at the time of acquisiGon or sale as a credit agaiatt the sums sectued by
<br /> this Security Insttument.
<br /> ----°-- 3. Appltendon ot Payments. Unless epplicable law provides otherwis�,all payments received by Lenderuuder paragraphs
<br /> - - 1 and 2 shall be applied:fust, to any prepaymentcharges due under the Note;second,to amounts payable under paragraph2;
<br /> _�.���_�� third,to iuterest due;fourth,to priaapal due;and last,to any late charges due under tb.e Note.
<br /> - - -='=� 4. C6Arges; IJens. Borrower shall pay aq taxes, assessments,charges,fines and imposidons attributableto the Property
<br /> �_-,�;:;;;s::� i which muy attain priority over tLis Security Instrument,and leasehold payments or ground rents,if any. Borrower shall pay
<br /> �:=_,°��_: these obligations in the mannerprovided in paragraph2, or if aot paid in that manner,Bonowershall pay them on tim�d'uectly
<br /> .�_' '�" ' � to the person owed paymenG Borrower shall prompdy furnish to L.enderell notices of amounts to be paid under tLis paragraph.
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<br /> If Bonower makes thesc payments directly,Borrower shall promptly fumish to Lender receipts evidencing the payments.
<br /> - � Borrowershall prompdy discharge any lien which has priority over this Security Instrunnentunless Bonow�r.(a)agrees in
<br />_`'.` wri to the a ent of the obli atioa securedb the lien in a maaneracce tableto L.ender; good faith the lien
<br /> �►B P Y� B Y p (b)contestsin
<br /> � by, or defends against enforcement of the lien in, legal proceedings wluch in the Lender's opinion operate to prevent the _
<br /> enforcementof the lien; or(c)secures from the holder of the lien an agreementsatisfactory to Lender subordinatiagWe lien to
<br /> this Securiry Instruaient.If Lender determinesthat any pazt of the Property is subject to a Gen which mey attain priority over
<br /> = this Security Instrument,I.ender may give Bonower a nodce identifying the Ilen. B�rrower shall satisfy ttte lien or take one or
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<br /> more of the actions set forth above within 10 days of the giving of notice,
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