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<br /> I 97-11A512 ` _-
<br /> � 'I�fiTHER WITH all thc improvemcnts now on c�rcaftcr crcctcd on tha property, and all cascmentv, appurtcnanccs,and �
<br /> fixtures now or licrcaftcr a part of 1hc property.All rcplaccmcnts and addidons shall also bc covcred by this Sccurity Instrument. •
<br /> jAll ot tho forcgoing is rCfcrrcd w in thls SecuritY Instrumcnt av thc"Praperty:'
<br /> i IiORROW�R COVENANTS that Borrnwcr is lawfully sciscd of thc cstatc hcrcby convcycd and has thc right t�grunt und
<br /> „ ,.,w.,,,.+ convey ihe I'roperty and ihat the Propeny is unencumbered,except for encumbrances of record. Borrower warrants und will ,. _`�:_
<br /> -� dcfcnd gcncrally thc titic to the Property ageinst all slalms and dcmands,subJcct to any cncumbrenccs of rccord.
<br /> THIS SECURITY INSTRUM�N'f combincs unlfortn covenunts for national use and non-uniform covcnants with limited ,
<br /> vsuiaaons by jurisdiction to wnstituu:a uniform security insuumcnt covcring rcal propcny. . • _
<br /> UNIFOR.M COVBNANfS.Bonowcr and Lcuder covcnant and agrec as follows:
<br /> 1.Paymeat of PrincipAl�nd Inter�t;Prepayment And Late Charges. Borrower shall prompdy pay when due the _ _
<br /> principal of and intcrest on thc dcbt evidcnccd by the Notc nnd any prepayment and lute charges due undcr the Nou:. '''_
<br /> � 2.Funds for Tr�xes and Insur�nce. SubJect to applicable law or w a wriuen waiver by Lendcr, Borrower shall pay co .'s:;�
<br /> Lendcc en the day monthly paymcnts arc duc�mder the Note,until thc Notc is paid in fuU,a sum("Funds") for.(a)yearly taxes ,
<br /> � i and assessments which may susin priority over this Security Instrument as a llen on the Property;(b)Ycarly leasehold payments =
<br /> or ground rents on the Properly,if eny�(c}ycarly hazard or properry insurance premiums;(d)yearly flaod insuractce premiums,if
<br /> any;(e)yearly mortgage insurancc premiums,if any;und (�any sums payable by Borrower to Lender,in accardance with the -;.
<br /> provisions of paragraph 8, in lieu of the payment of mortgage insurancc: premiums. These items are called "Escrow Items." '�i_
<br /> I.ender may,at eny time,collect and hold Funds in an amount not to exceed the maximum amount a lender for a federaUy related ;;_'•
<br /> mortgage loan may require far Borrower's escrow account under the federel Real Estate Sealement Procedures Act of 1974 as -
<br /> amended from time to timc,12 U.S.C.Secdon 2601 et seq. ("RESPA"),unless another law d�at applies to the Funds sets a Icsscr
<br /> � amount. If so, Lender may,at any time, collect sind hold Funds in an amount not to exceed thc lesscr amount, I.cnder may _
<br /> cstimate the amount of Funds due on the basis of current data end reasonablc es6mates of expenditures of fuuuc Escrow Items or =_
<br /> � • otherwise in accordance with applicuble law. �
<br /> , Tfie Funds shall be hcld in an institudon whose dcposits arc insured by a federal agency,instrumentality.or enary(including
<br /> _ � Lender,if Lender is such an institution)or in any Federal Home Loan Bank.Lender shall apply the Funds to pay the Escrow _-:
<br /> - � Items.La�ide�may�ot chargc Borro:ves for holding and apply�n�rhe Funds,annually analyzinR the cscrow account,or verifying
<br /> the Escrow Itcros,unless I.ender pays Borrowcr interest on thc Funds and applicable law permits Lcnder to make such a chargc.
<br /> I Howevcr, I.ender may rcquirc Borrowcr to pay a one-time charge for an independent rcal cstatc tex reporting servicc used by _
<br /> Lender in connection with this loan, unless applicable law provides otherwise.Unless an agreement is mada or applicable law
<br /> requIres incerest to be paid,Lender shall not be rcquircd to pay Boaower any interest or camings on the Funds. Borrower and -
<br /> Lendcr may ugrec in wriW►B.howcver,that interest shall be paid on thc Funds.Lendcr shaU givc to Borrowcr,without charge,an
<br /> annual accounting of the Funds,showing credits and debits to the Funds and the purpose for which cach debit to the Funds was -
<br /> made.'It�e Funds are pledged as addirional security for all sums secured by this Securiry InstrumenG
<br /> If ihe Funds held by Lender exceed the amounts permitted to be held by applicable law,Lender shall account to Borrower for _`
<br /> � the excess Funds in accordance with the requirements of applicabie law.If the amount of the Funds held by Lender at any rime is -
<br /> not sufficient to pay the Escrow Items when due,Lender may so notify Borrower in writing,and,in such case Bnrrower shall pay
<br /> • to I.ender the amount necessary to make up the de�cienc�. Borrower shall make up the deficicncy in no more than twelve ;,
<br /> � monthly payments,at Lender's sole discrcdon. � __
<br /> � Upon payment in full of all sums secured by this Sccurity Instrumcnt,I.ender shall prompdy rcfund to Borrowcr any Funds
<br /> hcld by L.endcr. If, under paragraph 21,Lcndcr shall acquirc or sell the Propeny,Lender,prior to thc aoquisiuon or salc af ihe -_ �
<br /> � Properry, shaU apply any Funds held by Lender at the dme of acquisition or saie as a credit against the sums secured by this ._
<br /> Sccurity Instrumen� _
<br /> ,� 3.Applitation of Payments. Unless applicabl�law providcs otherwisc,all payments received by I.ender under paragraphs _
<br /> � 1 and 2 shall be applied: first, to any prepaymcnt charges due under the Notc;second,to amounts payablc under paragraph 2; _
<br /> � third,to interest due;fourth,to principal due;and last,to any late charges due under the Note. :_-
<br /> � I4.Charges;Liens. Bonowcr shall pay nll taxcs, assessments, charges, fines and impositions auributable to thc Property �_
<br /> � which may susin priorily over this Sceurity Instrument,and leasehold paymcnts or ground renis,if any.Borrower shall pay these
<br /> � obligations in Ihc manncr providcd in paragraph 2,or if not paid in that manncr,Borrowcr shall pay thcm on umc direcdy to thc
<br /> person owed paymenG Borrower shall prompdy furnish to Lender all notices of amounts to be paid under this paragraph: If �.,�_
<br /> Borrowcr makes thesc paymcnts direcdy,Bonower shall prompdy furnish ro I.cnder reccipts cvidcncing ihe payments. � v�:_M���
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<br /> Borrower shall prompdy discharge any llen which has priority over this Security Instrurt►ent unless Borrower:(a) agcces in , -• �:__. _
<br /> writing to the payment of the obligation secured by the lien in a manner acceptable to Lender.(b)contests in good faith thc licn :�:,j,;,,-��.�•
<br /> by, or dcfends against cnforcement of the lien in, legal proceedings which in thc Lendcr's apinion operate to prevcnt thc ,�"��:�
<br /> enforcement of the Gen; or(c) sccures from the holder of the licn t�n agrecment sadsfactory tc�Lender subordinating thc lien to • '' .
<br /> this Security InswmcnG If L.ender determines that any parc of the Property is subjcct to a lien which may attain priodty over this �1
<br /> Security InsUUment,Lender may give Bonower u noacc idcntifying thc lien. Bormwcr shall satisfy thc licn or take onc or morc
<br /> of the actions set f�rth above within 10 days of Ihe giving of notice.
<br /> Form 3028 8190
<br /> � � .8R(NE)(e2+z).o� Pape2oie inmais:
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