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<br /> 98- 1�2s39
<br /> LOAN #�: 939f 055
<br /> T0C3ETHER W1TH all the improvements now or hercaRer erecred on thc property, and nll casen�entg, eppurteru+nces, end
<br /> fixtures now or hereaftcr a par�of the propeny,All rcplace►nents and addition� shall alsu t�cuvcrecl by thic Security Insin�ment.
<br /> All of the foregoing is refcrred to in this Security lastrurnent as the`Property."
<br /> BORROWER COVENANTS that Borrower is lawfully soised af the estate hereby conveyed und has the right ta grant ancl
<br /> convey the i'roper.y o�r�d that the property is unencumbered, except for encumhrances of recard.Borrower wnrrants nnd will defend
<br /> generally the dtle to the Property against aU claims and demands,subject to any eiK:umbra�xe+uf record.
<br /> THIS STCURI'fY INSTRUMENT combines uniform covenants for national use arui non•uniform covcnunt3 with limiied
<br /> variations by jurisdiction to constitute a uniform security instrument covering real property.
<br /> UNIFORM COV�NANTS. Borrower and Lender covenant and agree es follows:
<br /> 1. Payment ot Principol �►nd lnterest; Prep►yment wnd Late ChArges. Borrowcr shall promptly pay when due the
<br /> principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note
<br /> 2. Funde tor Tpxes sand Insurance. Subject to applicable Isw or to a writtcn waiver by Lender,Borrower shall pay to
<br /> I.ecxkr on the day monthly paymeats are due uncier the Note,until the Note is paid in tull,a sum �� ear�l S leasehold Yaarments or
<br />- and assessments which may actain prioriry over this Security [nstniment as a lien on the Property:(b)Y Y P Y
<br /> - ground rents on the Property,if any; (c) yearly hazard or property insurance premiuinv: <d)yearly flood insurance Xiremiums, if
<br />- any; (ej yearly nwrtgage insurance premiums, if any; anci (fl any sunu payable by Borrowcr to Lender,in accordance with the
<br /> provisions of pazagraph 8,in liai of the paymen[of mottgage insurance premiums.These items are called"Escrow Items."1-ender
<br />- may,at any time,collect and hold Funds in an amount not to exceed the maximum amount a lender for a faderally related mortgage
<br /> - loan may requirc for Borrower's escrow account under the fedcral Real Fstate Settlemenc Procedures Act af 1974 as amended from
<br /> time to time. 12 U,S.C,Section 2601 �t s�q.("RESPA"),unless another law that applies to the Funds sets a lesser a�nount. If so,
<br /> I.ender may,at any[ime,collect az�d hold Funds in an amount not to exceed thc lesser amount• Lend��maY estimate[he amount of
<br /> Funds due on the basis of current data end reasonahle estimates of experdirures of future Escrow[tems or�therwiae in accordance
<br /> with applicable law.
<br /> '[1�e Fuads shall be field in an institution whose deposits are insured by a federal agency, instrumentality,ur entity (including
<br /> l,ender,if Lender is such an i�ctitution)or in any Fedetal Hame Loan Bank• Lender shall apply the Funds to pay the Escrow Items.
<br /> I.,ender may not charge Borrower for holding and applying the Flinds, annually analyzing ihe escrow ac:.ount, or verifying the
<br /> Escrow Iums, unless Lcnder pays Borrower interest on the Funds and applicable law permiu Lender m mnke such a charge.
<br /> However, Lencler may require Borrower to pay a one-time charge for an independent real estate tax reporting service usai by
<br /> Lender in connection with this loan,unless applicable law providec otherwise. Unless an agreement is made or applicable law
<br /> requires interest to be paid,l.enelor shall not be requirea to pay Fsoaower aiy iswa�s;�r eaznir•�s ^n rn' Fu,xic.Borrower and
<br /> Lepder mzy agree in wridng,however,that interest shaA be paid on the Fw�ds. 1-end,er shall give to Borrower, without charge,an
<br /> annua]accountic►g of the Fwids,shc�wing credits and debits to the Funds aixl the purpose for which each debit to the Funds was
<br /> made,The Fw�ds are pledged as a;dditional security for all sums securcd by this Security Instmment.
<br /> If the Funds held by l,ender exc�ed the amouncs permitted to be held by applicable law,C.ender shall account to Borrower for
<br /> the excess Funds in accordance with the requirements of applicable law.If the amount of the Funds held by i,ender at any time is
<br /> not sufficient to pay the Escrow Items when due, Lender may so notify Borrower in writing,and, in sucli case Bonawer shall pay
<br /> to L.ender the amount nxessary to malce up the deficiency. Borrower shall make up the deficiency in no more t}xan twelve monlhly
<br /> paymenta,st Lcnder's sole discretion. refund to Borrower an FLndt
<br /> Upon paymenc in full of all sums secured by thi�Security Instnunent, L,end�:r shall promptly Y
<br /> held by Lender, If,und�c �rag�aPh 21,L,ender shall acquire or sell the PcopertY. L.ender�Prior W the acquisition or s�le of tbe
<br /> pr��,� �pall apply aay FUnds held by Lender at the time of acquisition or sele as a credit against the sums secured by this �
<br /> Security Instcument.
<br /> 3.Applk+tEon ot Ps�3�nents. Unless applicable law provides otherwise,all p�yments received by Lender w�der paragraphs 1
<br /> azxi 2 shall be applied:first,to any prepaymeat charges due under the I�Iote;sccond. to amounts PaYable under pazagraph 2;tbird,
<br /> to intecest due;fourth,to principal due;and last,to any late etiarges due under the Note. �nons amibutable to the Property
<br /> 4.ChacQe�; Lten+• Horrower shall pay all taxes, assessmenu,charges, fines and impos'�
<br /> which may attain prioriry over this Securiry Instrument,and leasehotd payments or ground rents.if aay.Boaower shall pay these
<br /> ��lg�� �the manuer provided in paragraph 2,ur if not paid in thai maan�r,Bonowcr shall pay them on time directly to the
<br /> person owed payment, Bonower shall promptly furnish to Lender all notic�s of amouna co bt Paid u�er thi� paragrapl►. If
<br /> $orrower nwlces these payments direcUy,Bonower shall promptly furnish to Lender receipts evidencing the paYments.
<br /> gorrower shall promptly dischar8e anY lien which has priority over this Securiry Instniment unless Borrower: (a)agrees in
<br /> wr;ting w the payment of the obligation secured by the lien in a manoer acceptaUlc to Ltnder:(b)contesu in good faith the lien by,
<br /> or defeads againsc enforcement of the lien in,legal prceeedings which in the L.en�ler's opinion operate to prevent the enforcement
<br /> of the lien;or(c)secures ftom the holci�r of the lien an agreement satisfactory to Lender subordinating the lien to this Securiry
<br /> Instrunxnt. If Lender detetmu►es that any part of the ProPa't}'is suhject ta a lien wtrich may attain prioriry over this Security
<br /> Insuumcnt, Lender maY give Bonower a notice identifying the lien.Bonower shall satisfy the lien or take one or mure of the
<br />= actions set forth above within 10 days of the giving of notice.
<br />� 5.Nazard a'PcoP�rty Insurance. Borrower shall keep the improvcments now e�cisdng or t�7eaiter erected on the Property
<br />:� insund again9t loss by fue, hazarcis included within the term°extended coverage" and anY othe� ��� ��uding floods or
<br />'� flooding, for which Lender requires insuruxe.This insurance shall be maintained in the an�ounts and for the periods tbat Lender
<br /> ' re�►ires.'[he insurance carrier providing the icuurance sha11 be chosen by Borrower subject to Lenc{er's approval which siull not
<br /> �" be uiueasonably withLeid. If Bonower fails to n�aimain coverage described above, Lender maY. at Lender's option. obtain
<br /> � coverage to protect I.ender's rights in the Property in acco�dance w�paraBraphtl��tude a standard mortAage clause. Lender shall
<br />.�� AII It1Slli8tlCC pOIiCICS 3I1Q CCilewais snaii uc iri.��Yw�,., •...,�....._. _�---�
<br /> have the right to hold the policies and renewals.If Lender requices,Borroµ�er shall promptly give to Lender all receipts of paid
<br /> premiums and renewal na�tices.In the event of loss, Horcower shall give prompt notice to the insurance carrier u�d Lencfer.Lender
<br /> may rpake proof of loss if not made prompUy by Borsower.
<br /> - / �i�v
<br /> INUi:1: ���_ �
<br /> ^ ,..,eBChE) ��o��.o� CIIL(01/971
<br /> pa{e 2 of 6 Form 3028 9l90
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