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<br /> TQGfiTHER WI'CH all thc improvcmcnts naw on c�rcaftcr crcctcd on thc propcny,and 1'cascmcnts. eppu n ccs, and „�i�..r,__'
<br /> � Gxtures now on c�rcaftcr a part of the propeny.All rcplaccmenL9 nnd addidons shall also bc covercii by this Security Instrumcnt. „ ..
<br /> �� All of the forcgoing is rcfcrccd w in this Securiry lnstrument n�thc"Properry." ,� '
<br /> BORROWER COVENANTS that Borrowcr is lawfully sci�cd of thc cstatc hcrcb comc cd and has thc d ht to grant and '� �-
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<br /> -•�•-�"" convey ihe Property and that tha Property is unencumi�cred, except for encumbrances of record. Bonower warrants and will ;,=';�:�
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<br /> defend genecaUy the tide to the Froperty against n!1 clsims and demands,subject to any encumbrances of record. ��n- -
<br /> THIS SECURITY INSTRUMENT combines uniform covenants for nadonal use and non-uniform covenants with limited ,:��_
<br /> � variadons by jurisdicdon to cons3tutc a uniform sccuriry instrumcnt covcring rcal propeny. r-��•�
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<br /> � UNIFORM COVENANTS.Boaower and Lender c;ovenant and agrcc as follows: - _ -
<br /> 1.Paymeat ot PrincipAl And Interest;Prepayment nnd Late ChArges. Bonowcr shall promptly pay when due the =
<br /> ,, principal of and interest on the debt evidenccd by the Note and any prepayment and late chargcs due under the Note. _
<br /> � Z.Funds tor Tttxes and Insuraace. Subject to applicable law or to a wriuen waiver by Lender,Borrower shall pay to
<br /> Lender on the day monthly paymenu are due under thc Note,undl the Note is pald in full,a sum("Funds") for: (a)yearly taxes -
<br /> and assessments which may auain priority over this Securiry Instrument as a lien on the Property;(b)Yearly leasehold payments
<br /> • or ground rents on ihe Property,if anY;(c)Yearly hazard or property insuranc�premiums;(d)yearly tlood insurance premiums,if ___
<br /> any;(e)yearly mortguge inswance premiums,if any;and(� any sums paYsble by Bonower to Lender,in accordenee with the __
<br /> ' provisiuns of paragraph 8� in lieu of the payment of mortgage insurance preeniums. These items are called "Escrow Items."
<br /> Lender may,at any time�collect and hold Funds in an emount not to exceed the maximum amount a lender for a federally related
<br /> 4 mortgagc loan may requfre for Boaower's escrow account under the federal Real Estate Settlement Procedures Act of 1974 as
<br /> " amended from time to time, 12 U.S.C.Secdon 2601 et seq. ("RES?A"),unless anndier law ihat applies to the Funds sets a lesser
<br /> amount. If so, Lender may, at eny dme, collect and hold Funds in an amount not to exceed ihe lesser amoun�L,ender may
<br /> ��, estimate the amount of Funds due on the basis of current data and reasonable estlmates of expenditures of future Bscrow Items or
<br /> othcrwisc in uccordance with applicablc law.
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<br /> � The Funds shaU be held in an instiutdon whose deposit�are insured by a federal agency,instrumentality ty (mc u g
<br /> L.ender,if Leader is such an insdtudon) or in any Federal H�me Loan Bank. I.ender shaU apply the Funds to pay the Escrow
<br /> �� Items.I.ender may not chargc Boaower for holding and applying the Funds,annually analyzing the escrow account,or verifying
<br /> r the Escrow Items,unir-ss Lender pays Boaower interest on U►e runds and applicable Iuw �e�ii�L..ndcr ta ma:c suctt s charee.
<br /> �, Howcvcr, L.endcr may requirc Borrower to pay a one-timc charge for an indcpendent real cstate tax rcportin8 scrvice used by
<br /> Lender in wnnection with this loan,unless applicablc law provides otherwise.Unless an agreement is madc or applicable law
<br /> ; req�ires interest to be paid, Lender shall not be required w pay Bonowcr any incerest or eamings on the Funds.Borrowcr and
<br /> Lender may agrec in wridng,however,ihat interest shall be paid on the Funds.L,ender shall givc to Borrower,without charge,an _._
<br /> annual accounting of the Funds,showing credits and debits to the Funds and the purpose for�vhich each debit u�th�Funds wes `:.-
<br /> � made.The Funds are pledged as addidonal security for all sums secured by this Security InstrumenG �.:
<br /> �' lf the Funds held by Lender exceeci the a�nounts permiued to be held by applicable law,Lender shall account to Borrower for v�: _
<br /> ° the excess Funds in accordance with ihe requirements of applicable law.If the amount of the Funds held by Lender at any time is �'.��- -
<br /> � not sufficient to pay the Escrow Items when due,Lender may so notify Borrower in writing,and,in such case Borrower shaU pay !==
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<br /> � �Y� to I.ender the amount necessary co make up the deficiency. Borrower shall make up the deficiency in no more than twelve �-
<br /> • monthly payments,at Lender's sole discrction. �,
<br /> ' Upon payment in full of all sums secured by this Security Instrument,I.ender shall prompdy refund to Bonower any Funds e;.
<br /> '' held by Lender. If, under paragraph 21,Lender shall acquire or scll the Property,I.cnder,prior to the acquisidon or salc of the ��' __
<br /> #' Property, shall apply any Funds held by Lender at the timc uf acquisition or sale as a credit against the sums secured by this _
<br /> � Security Instrumcn4 -
<br /> �. 3.Applkation of Payments. Unless applicable law provides othcnvisc,all paymcnts rcceivcd by l.ender undcr pazagraph� _
<br /> 1 and 2 shall be applied: first,to any prepayment charges due under the Notc; sccond, to amounts payable under paragraph 2;
<br /> third,to interest due;founh,to principal due;and last,to any late chazges due under the Note. -
<br /> ~ 4.Charges;Liens. Borrower shall pay all taxcs, assessments, chargcs, fines and imposidons aaributablc to the Property _-
<br /> which may attain priority ovcr this Security Instrument,and leasehold pAyments or ground rents,if any.Borrower shall pay these - __ .__
<br /> obligaUOns in the munner provided in paragraph 2,or if not p�id in that manner,Borrower shall pay them an pme directly to thc _ ��—
<br /> person owcd paymenG Borrower shall prompily fumish to Lcnder all notices of amounts to be paid under this paragraph. If , •:°:,,,.;�yy r_
<br /> Boaowcr mukes these payments d'ucA:dy,Bonower shall prompUy furnish w Lender receigts cvidcncing the payments. �: :,__:;._
<br /> Borcower shell prompdy discharge any lien which has priority over this Security Instrument unless Bonower.(a)agrees in �-n>���'-
<br /> writing to the payment of the obligauon secured by thc licn in a manncr acceptable to Lendcr;(b)contcsts in good faith thc lien - ___
<br /> � by, or defcnds against enforccmcnt of thc lien in, icgal proceedings which in the Lcnder's opinion operatc to prcvent the
<br /> enforcemcnt of the licn;or (c)sectucs[rom the holdcr of Ihc lien an agrcement satisfactory to Lcndcr subordinaung the licn to
<br /> this Sccuriry Instrumcnt.If I.cndcr dctettnincs that any part of ihe Property is subject to a lien which may auain priority over this
<br /> Seciuity Instrument,Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more
<br /> of thc actions set forth abovc within 10 days of thc giving of noticc.
<br /> Form 3028 9�90
<br /> ��•8R(NE)�sz+�i.o+ rege z oi o ��maie:
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