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<br /> �� I � 'TOCi�"I'HER WITfi all the impravementn now or hereafter erectcd un the property, end all easemente, ^;,'��;.
<br /> appurtenances,and fixtures now or hereaher a part of the property.All replecementa and additione shell also be covered �� ••
<br /> .Y� by this Security lnstrument.All�f the Foregoing ie referred to�n this Security Instrument as the"Property." ,:�•._,n:t..,_
<br /> ' BORROWER COVL�NANTS that Borrower ie lawfully seised of the estate hereby conveyed and has tha right to ____
<br /> -�•`�•'"'�'� grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower :;;;1_�=
<br /> . .. .
<br /> wanante and will defend generally the title to the Property against all claims and demande,subject to any encumbrances "��
<br /> I of record. �ifTr�
<br /> j THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with ,___ _
<br /> limited variationa by juriediction to conetitutea unitorm security instrument covering renl property. ,ZT.-�_
<br /> UNIFORM COVENANTS.Banower and L.ender covenant and agrce as followa: � _.
<br /> 1.Psymont of Principal and Interest;Prepayment and Late Chtrges. 13or�•ower shall promptly pay when due ,_,;=._
<br /> • tha pri»cipal of and intereat on the debt evidenced by the Note and any prepayment and late charges due under the Note. :,;���.,�
<br /> 2. Funde for Taxes and Insurance. Subject to applicable law or to a written waivsr by Lender, Borrower shall __-
<br /> ' ' ay to Lender on the dey monthly payments are duc under the Note,until the Nate is paid in full,a sum ("Funds")for: �'����:_,—
<br /> r�1 .��
<br /> (a) yearly taxes and assessments which may attain priority aver thie Security Inatrument ea a lien on tha Praperty;(b) _�
<br /> ��: yearly leasehald paymenta or ground rents on the Praperty,if any; (c) yearly hazerd or property ir►surance premiume; -i�=
<br /> (d)yearly flood insurance premiume,if any; 1e) yearly mortgage ineurance premiume,if any;end(f)any sume payable __
<br /> ' � by Borrower to Lander,in accordance with the provisions af paragraph 8,in lieu of the payment of mortgage inaurance _._.
<br /> premiuma.These items are called"Fscrow Iteme,"Lender may,at any time,collect and hold Funde in an amount not
<br /> � to exceed the maximum amount a lender for a federally related mortgage loan may require for Aorrowor's escrow
<br /> � account under the federal Real Eewte Settlement Prceedures Act af 1974 es amended from time to time, 12 U.S.C. _
<br /> Sectien 2601 et seq. ("RESPA"),unless another law that applies to the Funds sets a lesser amount.If so,Lender may,
<br /> at any time,collect and hold Funde in an amount not to exceed the lesser arnount.Lender may estimate the emount of
<br /> � � Funda due on the basis af current data and reasoneble estimates of expenditures of future Escrow Itema or otherwise in
<br /> � accordance with applicable law. _
<br /> �� Tha Funds shall ba held in an institution whose deposita are insured by a federal agency,instrum�ntality,or entity �
<br /> �
<br /> � (including Lender,if Lender is such an inetitution)or in any Federal Home I.oan Bunk.I.ender shall apply the Funda to �
<br /> __ `= pa�� the Escrow Iteme.I,ender may not charge Borrawer for holding and applying the Funds, annually analyzing the ��,-
<br /> ' escrow accnunt, or verityin�the N'scrow ltems, unless Lender pays Borrower iniercni uii tiic I�ur�ds and appilCnhl;,la•�
<br /> � �. permits I..ender to meke such a charge. However, Lender may require Borrower to pay a one-time charge for an �,:.
<br />•. independent real estate tax reporting service used by Lender in connection with this loan,unleas applicable law provides �.,
<br /> otherwise.Unless an egr.°.ement is made ur applicable law requires interest to be paid,Lender ehall not be required to
<br /> pay Borrower any intare.gt or earninge on the Funds. Borrower and I.ender may agree in writing,however,that interest ���
<br /> r�
<br /> ehall be paid on the Funda.Lender shall give to Borrower,without charge,an annual accounting of the Funds,showing
<br /> ' credits and debite to the Funds and the purpose for which exch debit to the Funda wae made.The Funde are pledged ae ����
<br /> � additional security for all eume secured by thie Security Inatrument. ___
<br /> If the Funda held b�+Lender exceed the amounta pejrmitted to bo held by applicable law, I,ender shall aceount to
<br /> Borrower for the excess Funds in accordance wit h t he requiremente o f app lica b le law.If the amount of tha Funds held �-
<br /> C�'•
<br /> by Lender at any time is not sufficient to pay the Escrow Items when due, I,ender may so notify Borrower in writing, E
<br /> • and,in such case Honower shall pay to Lender the amount necessary to make up the deficiency. Borrower ehell make _
<br /> up the deficiency in no more than twelve manthly paymente,at Lender'a sole discretion. _-
<br /> Upon payment in full of all sums secured by thie Security Inatrument,Lender shall promptly refund to Borrower
<br /> any Funds held by Lender. If, under paragraph 21, Lender shall acquire or sell the Property, Lender, prior to the
<br /> acquiaition or sale of the Property,shall appiy any Funds held by Lender at thc timc of acquisition or sele as a creclit ,__
<br /> ; against the eums secured by this Security Instrument. .�-
<br />— 3. Applicatlon of Payments. Unless applicable law provides otherwise, all paymants received by Lender under s�---
<br /> paragraphs 1 and 2 ahnll be applied:first,to any prepayment charges due under the Nota;second, to amounts payable �:�-
<br />= u n d e r p a r a g r a p h 2;third,to interest due;fourth,to principal due;and last,to any late charges due under the Note. �,._:
<br /> - 4. Chsrges; I.iens. Borrower shall pay all taxes, assessments,charges, fines and impositions attri buta b le to t he �
<br /> Property which may attain priority over this Security Instrument,and leasehold payments or ground rents, if any. d=._
<br /> � ' Borrower shall pay these obligationa in the manner provided in paragraph 2, u� if not paid in that manner, Bonawer � __-
<br /> shall pay them on time directly to the person owed payment.Aorrower shall promptly furnish to Lr.nder all notices of _
<br />= amounta to be paid under this paragraph.If Borrower makes these payments directly,Borrower shaU promptly furnish ______
<br /> to I.ender receipts evidencing the payments. �'n:�--
<br /> Borrower shall promptly discharge any lien which has priority over this Security Inatrument unless Borrower, (a) �, .�-..--
<br /> — agrees in writing to the payment of the obligation secured by the lien in a manner ecceptable tn Lender; (b)contests in ;'•::;�=;-
<br /> good faith the lien by,or defends against enforcement of the lien in, legal proceedinge which in the Lender's opinion ''•.�:
<br /> ' operate to prevent tho enforcement of the lien; or (c)secures from the holder of the lien an agreement satisfactory to
<br /> I,ender subordinating the lien to this See:urity Instrument.lf Lender determines tliat any part of the Property is subjec:t
<br /> � to a lien which may attain priority over thie Security Instrument,I.ender may give Borrower a notice identifying the
<br /> ! lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within ]0 ciays of the giving of
<br /> I notice.
<br /> 1 Form 30Yd 9/90
<br /> �� �—BR(NE1mi i�io� P.u.� o�e initiau: ��_ �..
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