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<br /> - •• •. • TOGEfHER yV1TH all t�e improvements now or he�fter etecte�on the prop�rty.and all easemenu.appu�feuances.ami �
<br /> -� - , fuwres ctow or hereafter.a part of the property. All replao�enis and additions shal! also be coveced isy this Security � :
<br />" �Z .. . , lnstrument.All of the�'oregoing is referred to in this Security Insuument as the°Property-"
<br /> . • . � BORROWER COVENANTS d�at BarrowPr is tavdully seised of ttie estate hemby comr�.yed a�has the sight to grant and
<br /> .- �'� , coAVey ti�Property and that the Property is unencumbered,exaegt for encambra�ces of recard. Borra�ver wanams aad wii! �-
<br /> . .'F•'"'��;` defend generally the title w the PmPertY against all ctaims and demands.sabject ta any encumbrances of record. �
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<br /> THIS SECUf2ITY INSfRIJMEI�iT oambines uaiform aove�ants for national use and non-anifotm coeeaants with limite�
<br /> � � ._�^�. variations by jurisdiction w constitute a uniform seauity insuurment covering real pmperty.
<br /> _.,•;.�: ,_.. `� ,, UDTIFORM COVENANTS.Borrower aad Ixnder covenant and agree as follnws: _
<br /> , . ;�'- l. Fayment of Priuci�at a�a.t�; Prepapm�tt and Late C6aiges. Borrower siras!prompfly pay when due the w-
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<br /> �;� ' puncipal of and interest an c�d�sa e.ti�'ta�oe�6y th�l�o*ra and anY P�Yment and late chazges due on�t��Ta'�e_ _
<br /> � ,��,� � Z.F�ds for Tsxes�I T�1P-.Subj�Qo�'`'.�able!aw or to a written waiver tmy H�eiider,�errotiver shaU pay eo ;.
<br /> � <..,. .�'.Af'�' I ender on the day moat5.tg���z�ancFer t�A'ate,m�il the Note is gaid in fa11,a sam("Funds°)for.(a)Y�Y� �"''
<br /> -;: �_' '�. ?L,`s ; and assessme�s wbich cuay�tain priority over this Secority Instrament as a iien on tbe P�roperty:(b)YearlY leaseltoId payme�s
<br /> .. :�.,•��. ��e;
<br /> . or graund m.uts on tHe P�uperty.if anY:(a)Y�Y��P1OP�Y�P��;fd)Yearly flaod insorance piemiums. �:»
<br />. '• '`;:•- �' if any:(e)Yeazly mortgage insurance pr�emiums,if auy:and(�any sums payable by Borrower to i.ender.in accordance vrith ��'-
<br /> ,'`_'._;�..,',' ;'?`,� the rovisioas of ara h 8,in tieu of the t of mort ° ° �:
<br />_ , - P P 8�P PaYmen gaSe insurance prcmiums.lY�ese items are calted Escpow tteats. �:_
<br /> _ . ' �-� �•�;` Lender may. at azry time. oollecx and hold Fuads in an amount not w exceed the maxImum amaunt a leader for a federally
<br /> � mlated mnitgage loan may require for Bomnwer's escrow aaouni under the federa!Real Essate Setilemetit Prooedutns Act of �`'
<br /> �• �.�.
<br /> ' �'e��'�•: `:��.
<br /> ��,�� '�:.' � 1974 as amended from auie ta time, 12 U.S.C.Section 2601 et seq. ("RESPA").uniess attotfter la�v that applit�to the Funds �;;,`:
<br /> � � . sets a lesser amauat.If sa. Lender may.at any time.callect und haid Fursds in uu amdunt not to cxceeA the tesser nmount. . �-.x
<br /> ' � LenQer may estimate the amount of Funds due on the basis oP current data artd reasonabte esttmatcs of e�pcnditures of thture �� �r�•
<br /> ":" '� � =•� Escrow Items or otherwise in accordance with appltcabte law. � ��'��
<br /> ""��` 'T""'�i,, .,�. ' The Funds s�a11 be held in'an institution whose sits rue insured b a feQeral en tnstsumentali
<br /> . � Y 88 �Y• ty. or entity ,�� .
<br /> (inctudin�I.ender.if Lender is sucb an institution)or in any Federnl Home Laan Banh.Lender shatl apply the Funds to pay the �
<br /> • • Escrow Items.Lender may not charge Borrower for holdiag and applying the Funds,annually aAalyzing ehe escrow uscaan�or —_
<br /> ' , verifying the Estrow Items,wnless Len+der pays Borrower interest on the Fusids aad applicabte!aw pemuts Len�ler to make such
<br /> :" <.�� a cdarge. However.Lender may require Borroaer to pay a ono-time charge for aA independent real estate taa mporting service
<br /> nsed by Lender in connedion witb this loan, unless applicable !aw pro�vides othetwise. Unless an agreement is made ar --
<br />_ . ' • agplicaMe law requires interest to be paid,I.ender shall not be reqaired W pay Borrower any interest or eamings on the Fands. �,._-
<br /> � . . . IIo:rower and Lender may agree in writing,however,that interest st�all 6e pa�d on the Fuads.I.ender shall give.to Borrower.
<br />- �� "'` withont charge,an annual accowrting of the Funds. shawing credits and de6its to the Funds and the purpose for whicb each
<br /> � .`�'�'•� debit to ttte Funds was made.The Fuuds a�ptedged as addidanal security for all swns sec�red by this Sewrity Instrumea� .
<br /> � ..: 3' � If the Funds helG by Lender exceed tfle amounts pemuued to 6e held by applicabte taw,Lender shaU account to Borrower "�'-
<br /> '.•". •• ' '� for the excess Funds In accordance with the requiremems of applirable law. If the amouat of tice Fands held by L�ader ai aay --•_
<br /> ,. • . ',•s� time is noi st�6cient W pay the Escrow Items when due.Lender may so nodfy Borr•��er in writing,and,in such case Borrower .�.�.,.
<br /> - . .� sia�U pay to Leader the amount neces5ary W malce up the defrcier.c.y. 8ortower�make up the defeciency iQ ao more ti�n
<br /> � '- � :-r:;�; . _
<br /> ,1,,..::� tavelve aiomhly.payments,at Leader's soie Cissreaon.�
<br /> . � �;, '�,.�•;; Ugaa�Jbvent in tiill of all sums ssa�ed by this Seca�rity Ir�rttmcnt. L,ctider shall pm��stly refand to B+�rrower atry
<br /> _ F�r.ds held�•�xnder.If.ander par�ra�2�,I.ender shail acquire or sell the Property.l.eader,�r_or to the 2�isit�oa ar sate.
<br /> .. '`.��.� c�qhe.Property,shall apply any Funds he2d by Leader at the tims of acquisition or sale as a cre�t against the sums secured by —
<br /> ahis 5ewriry Insuument. � —-_
<br /> " � 3.A II yments.Uniess.�pplicable law provides otherwise,all payments receic�by I.ender under pazagzapbs
<br /> � ��,.'yr�,«?�r: PP catIonofPa . �-
<br /> . �°��_�,.,f. !and 2 shall be a lied:first.to g paYable under patagcaph 2; ---
<br /> . ���?��• pp atry pr�miment char es due under the Note;second.to ama�s,.c
<br /> ,,4 ; <<,�� ; third,to interest due:fourth.to priacipal�ae;and last.to any late charges due unde3 the Note, • -_
<br /> ��.,:� ,� .. . 4.Cha�ges;Liens. Bmrower shall pay al!taxes.assessments,charges, fiaE--.,�d impositlons amibuta�s,_co the Property -:
<br /> ; �i?; �� � ; whicb may suaia prIority over this Security Insuument,and teasehold payments s�ground rents,if,any.Bareower sha11 pay
<br /> .�.x.1.,. , �-_-
<br /> . ,-•��„�;..4:_ � these obligations in the manner pmviaed in paragraph 2.or if not pai�in that manner,Bormwer sba11�Pay them dn time dir�y �_
<br /> - �=`.+='�''�' � to the persan owed payment.Borrower shall prompdy fumish�to Lat�'.er all notices of amounta to be paid uader this -
<br /> _ ..-:�...,�.:� ; P�'�• _
<br />-- ', �; . �• If Bonower makes thrse payments directly.Bormwer shall promptly fumish to Lender receipts evideacing tls��ayihents. --_
<br /> � . Borrower shall promptly discharge any lien wlrich has priority over this Sewrity Instrument untess Borro�er.(a)agrees in `
<br /> �• . < writing to the payment of the obligation secu�d by the lien ln a manr►er acceptable to Lender;(b)contests in good faith the lien �
<br /> �s.. ��.; by, or defends against enforcement of the lien in, legal proceedings whlch in the Lender's opinion operata to prevent the -
<br /> � .� ' eaforaement of the lien:or(c)secures from the holder of the Gen an agreemen!satisfactory to Lertder subordinafing the lien to ��'
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<br /> � � thfs Sesurity Instrument. if Lender determines that any part af the Property is subject to a lien which may attain priorIty over �'4'±:
<br /> -- � - � - this Security Instniment.Lender may give Borrower a notice identifying the lien.Bonower shall sadsfy the lien or tFtke oae or � ;
<br /> ' ' � raote of the actions set forth above within t0 days of the giving of notice.
<br /> . �
<br /> • .�: `s ' Faron 3028 9/90 ,
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