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<br /> • '� TOGE'fl-l�ft WITH all the improvements now or hereafter erected on the property,:�nd all easements, uppurtenances,and
<br />- � � tir.tures now or licreafter a part of the property. All replacements and ndditions shall alsa be covcred Uy this Security —
<br /> ' . `r In9trument. All of thc forcgoing is referred to in this Securiry Instrumem ns the"Property." '-
<br /> °� BORROWER COVENANTS that 8arrower is lawfully scised oi thc estate he,reby convtycd and has the right to grant und =
<br /> convey the Properry and ►hat the Propeny is unencumb�red, except for encumbrances af record. Rorrower warraats and vill _
<br /> '� ,�. dcfcnd gcnerally the titic to the Property agatnst all claims and demands,subject to nny encumbrances of record. -
<br /> THIS SECURITY INSTRUMBNTcombines uniform covenants for national use and non-uniform covenants witti limited
<br /> � �'.� variaUons by Jurfsdiction to constitute auniform securiry inatrument covering real property. �
<br /> UNIFOR�f COVENANTS. Horrower and Lcndcr covenant and agrce as follows, �`.
<br /> ,r,t.�;�,� 1. Pwyment of EMncipal end Interert; Prepayment and Late ChArge.s. Borrowcr shall promptly pay wlien due the �
<br /> � principai of and interest on the debt evidsnced by the Note and any pre�ayment and late chargcs duc under the[Vo�c.
<br /> 2, �ndc tor Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to �'
<br /> :��. • L.ender on the day monthly payments are due undcr thc Note,until the Notc is paid in full,a sum('Funds") for: (a)ytarly taaes _
<br />_, ��, and assessments which may attain priority�ver this Sccurity lnstrument as a licn on the Propeny; (b)yearly leaschold payments
<br />-' �'. or ground rents on tho Propeny, if any;(c)yearly hazard or property insurance premiums;(d)yearly flood insurancs premiums,
<br /> iF any; (e)yearly mortgage insurance premiums, if any; and (�any sums payable by Borrower to L.ender, in accordancc with
<br /> � : � the provisions of paragraph 8,in lteu of the payment of r,�orcgage insurance premiums. Thcse items are c�lled "Escrow Items."
<br /> • ... l.ender may, at any time, collect and hold Funds in an amount not to exceed the maximum amount a lender far a federally
<br /> rclated mortgage loan may require for Bonower's escrow acc�unt under the federal Real 6state Settlement Procedures Act of
<br /> . � • 1974 as amcnded from tims to time, 12 U.S.C. Section 2601 er seq. ("RESPA"), unless another law that applics tfl the Funds
<br /> � sets a lesser amount. If so, Lender may, at any time, collect and hold Funds in an amount not to exceed the lesser amount.
<br /> . Lender muy estimate the runuunt of Funds due on the basis of current data and reasonable estima�es of expenditures of fu�ure
<br /> ,_ ; � Escrow Iten�s or otherwise in acccirdnnce with applicable law.
<br /> Thc Funds shall be held in an institution whose deposlts are insured by a fedcral agency, instcumentality, or entity
<br /> . (including Leuder, if l.ender is such an institution)or in any Federal Home Loan Bank. l.ender shall apply the Funds to pay the
<br /> ����' • Escrow Items. Lender may not charge Borrower for holding and applying the Funds,annually analyzing the escrow account,or
<br /> ' ' °�. � veritying the Escrow It�ms, unless Lcndcr pays eorrower interest on the Funds and applicable law permits Lender to make such
<br />��� �• a charge. However, Lender may rtquire Borrower to pay a onatlme charge for an independent real estate tax reporting service
<br />_.�� � used by l.ender in co�ection with this loan, unless applicable law provides otherwise. Unless an agreement is made ar
<br />�� applicable law requires interest to be paid. Lendsr shall not be rcquired to pay Borrower any interest or earnings on the Funds.
<br /> '`''�� � "'' Bonowcr and Lender may agree in writing,however,that interest shall be paid on the Funds. I..ender shall givc to Borrowcr,
<br /> '" � without charge, an annual a;counting of the Funds, showing credits and debits to the Funds nnd the purpose for which each
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<br />- -- — �irhj�m the Fimds wac made.The Funds are pled¢ed az additional securiry for all sums secured by this Security Instrument.
<br /> 'j�.��. ; ' , If the Funds hr,ld by Ler.der eaceed tl�e amounts permitted to be held by applicable lnw, Lender shall account to Bonower
<br /> �� � ' ' for the excess Funds in accordance with the requircments of applicable law. if the amaunt of the Funds held by Lender at any
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<br />-==�s:-�;'�`�" ' time is not sufficient to a the Escrow Items when due, I.ender ma so notif Borrower in writin and,in such case Bonower
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<br /> shall pay to L.ender the amount necessary to make up[he deficiency. Borrower shall make up the deficiency in no more than
<br />'����y'�'� �'� ' �� twelve monthly paya►ents,at Lender's sole discretion.
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<br />?��-�'��•. Upon payment In full of aU sums secured by this Security Instrument, Lender shail promptly refund to Aorrower any
<br />-����'`'�""�'' Funds held by L.ender. If,undcr puagraph 21, Lender shall acquire or scll the Propeny,L,ender,prior to�he acquisition or sale
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<br />_,.. � of the Propeny, shall apply any Funds held by Lender ac thc time of acquisition or sale as a crcdit againsc the sums sxurcd by
<br />_"?""�"•`" this Security Instrument.
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<br /> �.:�;�1;�.:.�.. 3.AppBcallon of Poyments.Unless applicablc law provides otlierwise:, all payments received by Lender under paragraphs
<br /> -�r��`.���e'.::,� 1 and 2 shall be applied:first,to any prepayment charges due under the Note;second, to amounts payable under paragraph 2;
<br /> 1�� '��`'n� third,co interest due;fourth,to principal due;and last,t�any late charges due under the Note.
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<br /> .y;�=;F� A. ChArges; Llens.Borrower shall pay all taxcs, assessments,charges, fines and impositions attributable to the Prnperty
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<br /> ��.«-�t•'�"':i which may attain priority aver this Securiry Instrument, and leasehold payments or ground rents, if any. Borrower shall pay
<br />�;��F'• , � . these obligations in thc manner provided tn paragraph 2, or if not paid in that munner, Borrower shall pay thom on time directly
<br /> -�• ,,:;-: • to the person owed payment. Borrower shall promptly furnish to Lcnder all notices of amour.ts to bc paid undcr this paragraph.
<br /> =- • If Borrower makes these payments direcAy, Borrower shall promptly furnish to I.ender receipts evidencing the payments.
<br /> u���N''"� Borrower sha!I promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)agrees in
<br /> `��`�` �z'' writing to the payment of the obligation secured Uy the lien in a manner acceptable ta Lender;(b)contests in good faith the lien _
<br /> """�'��°���� � by, or defends agalnst enforcement of the lien in, legal proceedings which in the I.cnder's opinion operate to prcvent the
<br /> `'��`��.,t.•�� � cnforcement of the lien;or (c)secures from�he holdcr of the lien an agreement satisfactory to Lender subordinating the licn to
<br /> �-- this 5ecuriry Instrument. If Lender dcrermines that any part of the Property is subject to a lien which may attain pdority over
<br /> , . � this Security Instniment, Lender may give Borrowcr a notice identifying the lien. Borrower shall satisfy the lien or takc one or
<br /> inorc of thc actions set forth abovc within 10 days of thc giving of noticc.
<br /> Form 3028 9/90
<br /> � ��6RINE1�szizi.os reye x m e in„�,,,:
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