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<br /> 98- �1z•3�3
<br /> TOG�'fH6R WITH all the improvcments now or hereafter erectcct on the pr�perty,and all casoments, appurtenanccs, and
<br /> fixture.4 now or hereafter a part of the pro�xrty. All rcplacements and additions shell also be covered by thla Security
<br /> Instrument.All of tha fongoing Is nferred to in this Securlty Ia�trument as ihe "Propeny,'
<br /> 90RROWER COVSNANTS that Borsawer!s lawfully�efsed of the e�tato hcrcby conveyed w►d ti�s tha right to gr,znt and
<br /> convey the Property and that the Property is wicncumbered, exc�pt far encumbranas of recard. Borrower warrants and wAl
<br /> defend generally the title to the f�ropeny against all claims and demands,subJect to any encumbrances of record.
<br /> T�IIS SECURI'PX INSTRUMENT combines unlform covenants for natiannl use �nd non-u�ilorm eovenanta with Ilmited
<br /> vnriations by jurisdiction to constiane a uniform security Instniment covering real property. �
<br /> UNIFORM COVENANTS. Borrower and L,ender covenant end agree as followe:
<br /> i. Poyment of Principal and Interest; Prepwyment and Late ChAr�a. Borrower sh�ll promptly pay when due the
<br /> primcipal of and interest on tho debt evidenced by the Note and any prepayment and lute charges due ander the Note.
<br /> 2. Funda for Taxes and Insurance. Subjxt to applicable law or to a written walver by Lender, Borrower shall pay to
<br /> L,cnder on the day monthly payments are due undcr thc Note,until the Note is paid In fuil,a sum("Funds")for:(a)yearly ta�ces
<br /> and assessments which may attain priority over this 5ecurity Instrument as a lten on the Property; (b)yearly leasehald payments
<br /> or ground renta on the Property, if any;(c)yenrly hazard or property Insurance premiums;(d)yearly floal insurance premiums,
<br /> if any; (e)yeatly mortgage insurance premiums, if any; and (� any sums payable by Barrower to Lender, in accordance with
<br /> thc provisions of paragraph 8, in lieu of thc payment of mortgagc insurance prcmiums. These itcros are called "Escrow Items."
<br /> L.ender may, at any tlme, collxt and hold Funds in an amount not to exceed rhe maxlmum amounc a lender for a federally
<br /> related mortgage loan may require for Borrower's escrow account under the federal Real Estate Settlement Procedurea Act of
<br /> 1974 as amended from time to time, 12 U.S.C. Section 2601 et seg. ("RESPA"),unless another law that applies to the Funds
<br /> sets a lesser amount. If so. Lender may, at any time, collxt and hold Funds ire an amount not [o ezcccd the lesser amount.
<br /> L.cnder may cstimate the umouizt of Funds due on the basis of cunent data and reasor�able estimatcs of expenditurcs of future
<br /> Escrow Items or otherwise in accordance with applicable law.
<br /> The Funds shall bc held in an institution whose deposits are lnsured by a federal agency, instrumentality, or cntity
<br /> (inr,luding Lender,If I.ender is such an institution)or in any Federal Home I.oan Bank. Lcnd�r shalt apply the Funds to pay the
<br /> Escrow Itenis.Lend�r may not chazge Eorrower for holding and applying the Funds,annually analyzing the escmw account,or
<br /> verifying the Escrow Item�. unless I.ender pays Bonower interest on the Funds and applicabl�law permits Lender to make sucb
<br /> a charge.However,Lender may require Bonower to pay a one-time charge for an independcnt real estate tax reporting s�rvlce
<br /> used by Lender in connxtion with this loan, unless applicable faw provides otherwise. Unless an agreement Is made c,r
<br /> applicable law reqaires interest to be paid, Lcnder shall not be required to pay Bonower any interest or earnings on the Funds.
<br /> Botrower and Lender may agrx in writing, however, that interest shall be paid on the Funde. Lender shal!give to Boaower,
<br /> ;yl�.h�,�;�hnrd�, ?a a.Ln„at accountina of the Funds. showing cndits and debits to the Funds and the purpose for which each
<br /> deblt to the Funds was made.The Funds are pledged as additional sceurity for all sums secural by this Security Instcument.
<br /> If the Funds held by Lender eaceed the amounts permitted to be held by applicable law,Lender shall account to Bonower
<br /> for the eacess Funds in accordance w(th the reqainments of applicable law. If the amount of the Funds held by Lender at any
<br /> time is not sufficient to pay the Fscrow Items wl�en due, L.ender may so notlty Bonower in writing,and,in such case Borrower
<br /> shall pay to I.ender the amount ncecssary to n�eke up the dcficiency. Borrower shall malce up thc deficiency in no �nore than
<br /> twelve monthly payments,at Lender's sole dlscretion.
<br /> Upon payment in full of all sums sxured by this Security Instrument, L.ender shall promptly refund to Borrower any
<br /> Funds held by Lender.If,under pungraph 21,Lender shall acquire or sell the Property,i.ander,prior to the acquisition or sale
<br /> of the P[operty, shall apply any Funds held by L.ender at the time of acquisition or sale as a credit against the sums secured by
<br /> this Security Instrument.
<br /> 3.AppUcAtdoa o[PayrnenW.Unless appl(cable law provides otherwise,all payments received by Lender under paragraphs
<br /> 1 and 2 shall be applied: Rrst, to any prcpayment chazges due under the Note; second,to amounts payable under paragraph 2;
<br /> third. to interest due; fourth,to principal due;and last,to any la!e chazges due under the Note.
<br /> 4.ChArges; Lte�u.Bocrower shall pay all taxes, assessments,chazges, fines and Impositions attributablc to the Property
<br /> which may attafu priority over thi9 Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay
<br /> these obligations in the manncr provided in paragraph 2,or if not paid in that manner, Bonower shall pay them on time dlrectly
<br /> to the person owed paymcnt.Bonower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph.
<br /> If Borrower makes tk:�c�:paymenta directly,Bonower shall promptly furnish to Lender receipts evidencing the paymenta.
<br /> Borrower shall promptly disehazge any licn which has priority over this Security Instrument unless Borrower:(a)agrees in
<br /> writing to the payment of the obligation sceured by the lien in a manner acceptable to Lender;(b)wntests in good faith the lien
<br /> by, or defends against enforcemenc nf the llen ia, legal proceedings which in the Lender's opinion operate to prevent the
<br /> enforcement of the lien;or(c)secures from the holder of the lien an agrament satisfactory to L.ender subordinating the lien to
<br /> this Security Instrument. If Lcnder deternunes that any part of the Property is subjxt to a licn which may attain priority over
<br /> chis Security[nstrument,Lender may give Borrower a notice identifying the tien.Bonower sha11 satisfy tha lien or take one or
<br /> more of the actions set forth above within 10 days of thc giving of notice.
<br /> Form�0�2R�9/80
<br />_ ��BqINE)�92�2i.o� r.9.s ot e �„�uM��. /.�J.
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