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<br /> TQ(iET1�8R WITH all the improvements aow vr hereaftor erected on the property,and all easements,appurtenances,end �
<br /> fixtures now or hereafter a part of the property. All replaamen[s aad additions shall also he covered by this Secudty
<br /> Instrument. All of the foregoWg is referred to in thls Securlry Iastrument as the'Property." `
<br /> BORAOWER COVENANTS that Borro4ver is lavrfully seised of the estate hereby conveyed ar.d has the rtght ro granc and
<br /> " convey the Property and tttat the Property is unencwnbered, exapt for encumbrances of record. Borrower warrauts and v�ill �'-
<br /> r,,...,.�+�''' defend generally the title ro the Property agaiast ell claims and demands,sutiject to any encumbrences of record.
<br />� • .�•: J°w'� THIS SECURITY INSTRUMENT combines unlform covenants foa r.�rtional use and non-uniform coveaants with limited
<br /> variations by jurisdiction ro constitute a unlfora►axurity instrunnent coveri�.g real properry. ,^
<br /> UNIFORM COV�NANTS. Aorrower and Lender covenant and agree as follows: '
<br /> ,� 1. Paymeat of Principal and Intenst; Prepayment ead Late Chaages. Borrower shall pmmpdy pay when due the -,
<br /> principal of and interest on the debt ev{denced by the Note aad any prepayment and late cherges due under the Note.
<br /> 2. �ds tor Taxes and Iagurnnce.Subjxt to applicable law or to a writteu waiver by Lender, Boaower shall pay to °
<br /> Lender on the day monthly payments are due under the Note,until the Note is paid in fvll,a sum("Funds")for:(a)yearly taxes �
<br /> and assessments which may attain priortry ovar this Security Insuutnent as a liea on the Property;(b)yearly leasehold payments ���
<br /> or growid renta on the Property,if any;(c)yearly hazard or property inaurance premiva�s;(d)yearly flood iasurancs premiums, �
<br /> if any; (e)yearly mortgage{asurancc premiums,if any;and(�any sums payable by Borrower to I.ender, in accordaaa with -
<br /> , thc provisions of paragraph S,in lieu of the payment of mortgage insuraace premiums. These items are called"Escrow Iums." .
<br /> L.ender may, at any time, wllect and hold Funds in an amount aot to eacced t�e r.•aximum azaouat a lender for a federaUy
<br /> related mortgage loaa may require for Borrower's escmw accoua[under the federal R�1 Estate Settlement Proce�lures Act of _
<br /> 197�as amended from time to time, 12 U.5.C.Secuon 2601 et seq. ("RESPA'),a*less another law that applies to tbe Fuads
<br /> ' • seu a lesser aarount. If so, Lender may, at any time, collect and hold Funds im an arnouat not to excad the lesser amouat.
<br /> Lender mny estimate the amount of Funds due on the basta of current data and reaaonable estimatcs of expenditures of future
<br /> t� Escrow Items or otherwise in accordance with appl{cable law. "
<br /> :. '!'he Funds shall be held in an instisution whose deposits arc insurcd by a federal agency, insuumentality, or eatity �
<br /> •• • k (including I.ender,if Lender is such en insdtution)or in any Federal Home Loan Bank. Lender ahall apply the Ftwds to pay the ?
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<br /> F.acrow Items.Lender may aot charge Borrower for holdiag aad applying she Funds,az�nually analyzing the escrow account.or �;=
<br /> -'�r',�-�. 1`� � verifying the Escrow Items.unless Lender pays Borrowtr iaterest oa�te Funds and applicable law permits 1.ender to make such
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<br /> usai by L.ender in connxtion with this loan, unle9s applicable law provides otherwlse. Unless an ageement ia made or �—
<br /> applicable law nquires intenst co be paid.Lender shall not be requIred to pay Borrower any interest or earnings on the Funds. -
<br />- � Borrower and Lender may agree in wrlting,howevcr,that intcrest sh�ll be paid oa the Funds. Lender ahall give to Borrower, -
<br /> , without chArge,an annual accounting of the Funds, showing credita and debits to the Funds a�.d tha purpose for which each
<br /> • . ; debit to the Fuads was made.The Funds an plcdged as edditional security for all sums saured by thia Secudty Instnunent.
<br /> � If the Funds held by L�:nder eacad the aznounts permitted to be held by applicable law.I.ender shell account to Bonower
<br /> � for the ezcess Funds in accordance with the requirementa of applicable law. If the aa►ount of the Funds held by I.ender at any
<br />�:�, � • tlme is aot sufflcieat w pay t�e Escrow Items whon due,Lender may so notify Borrower ia writiag.and,in auch case Borrower
<br /> � • ��� ahall pay to Lender the amount nxa�ary co make up the deficiency. Borrowcr shall make up the def3ciency ia no tnon thw
<br /> i'�°�'"'' � ' twelve monWly payments,at Lender's sole dIscredon.
<br />�j�-��"%�F � • Upon payment in fWl of all sums aecured by this Securiry Instnunent,Lender shall pmmptly x�efl�ad to Borrower any
<br />-'-``��'�'���' Fuads held by Lender.If,under paragrph 21. Lender shall acquire or se1!the Properry,L,eader,prior to the acquisition or sale
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<br />_„r.._.w:�.:w of the Properry,shaU apply aay Funds held by Lender at the time of acquisitiou or salc as a credit against the sums secuced by -
<br /> this Secttrlty Instra:ment. -.
<br />=��'� • 3.Application oi Payments.Ualess applicable law provides otherwIse. all payments received by I.cnder under paragraphs -
<br /> "` �� 1 and 2 shall be applied: first, to any prepayment charges due under the Note;secoad, to amounts payable under paragraph 2; --=
<br /> =��� � � . third,to interest due;fourth,to principal due;and last,to any late charges due under the Note. �
<br />;.;�:. � 4.Clwrges; Lieas.Borrower sh�ll pay all tazes,assessments,charges, fines and impositions attrIbutable to the Property _-
<br />��"�;;, whIch may attain prioriry over tdis Securiry Instniment, and leasehold payuaents or ground rents, if any. Borrower shall pay
<br /> these obligations in the marmer provlded in paragraph 2,or if not paid in that marmer,Borrower shall pay th�m on time direcdy
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<br />_-- � . to the person owed payment.Borrower shall promptly furnish to L.ender all aodces of amounts to be paid under thIs paragraph.
<br />- If Borrower makes these payments directly,Borrower shall promptly furnish to Lender receipu evidencing thc payments. �`_
<br />_ . Borrower sball promptly discharge any lien which has pdoriry over this Securiry Instrument unless Borrower: (a)agrees in
<br />� wrlting to the payment of the obligation secured by the lien�n a manner acceptable to Lender; (b)contests in good faith the lien
<br /> by, or defends against eaforcement of the lien in, legal proceedings which in the I.ender's opinion operate to prevent the -
<br /> � enforcement of the 1ien;or(c)secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to ;;��:;`--�
<br /> this Security Instrument. If Leader determines that any pan of the Property is subject to a lien which mny attatn prtority over
<br />" this Security Instrument,Lender may give Borrower a notice idencifying the lien. Dorrower shaU satlsfy the lien or take one or -
<br /> more of the actioas set forth above within 10 days of the giving of notice. ?,x.,,�,
<br /> Form 3028 9/90 ''�:;�.
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