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<br /> 98- 112ss3
<br /> TU(iE7H�R WlTH all Ihe improvements now or her�after erected on the property, and all eascments, appurtcnanccs, �nd
<br /> fixturee now or hereafter a pan of the proExny. All replacements and additions shall uiso be coverr.d by this Security
<br /> Instrument. All af the foregoing ie referred to in this Securlty Instniment a.v the"Propeny,"
<br /> BORROWER COVBNANTS thAt Bonower is�lawfully seised of thc estate hereby cunveyed and has the right ta grant nnd
<br /> convey the Propeny and �hat the Propeny Is unencumlxred,except for encumbranGes of record. Borrower wurrants and will
<br /> defend gener�lly the tille to the Aropeny Agalnst�Il cleims and demands, subJect to Any encumbrancas of record.
<br /> THIS SECURITY INSTRUMENT combines uniform covenanis for national use and non-unifarm covenants with limited
<br /> varlations by Jurisdiction to canstitute a uniform sccurity instNment covering real property, �
<br /> UNIFORM COVENAN'fS.Borrower and Lender covenant and agree as follows: �
<br /> l. Pwyment ot Princlp�l and Interesh Prepayment 4nd Late Charges. Borrower shall promptly pay whcn due the
<br /> princip�l of and intereet on the debt evldenccd by the Notc and any prepaym�nt and late charges due undcr the Nate.
<br /> 2.Fund4 [or Taxes wnd Insurnnr.e. SubJect to applicable law or to a written waiver by Lender, Borrower shall pay to
<br /> L.end�r on the day monthly payments are due under thc Note,until the Note is paid in full,a sum("Funds")for:(a)yearly t�xes
<br /> and assessments which may attain priority over this Securlty Instrument as a lien on the Property; (b)ycarly leasehold payments
<br /> • or ground rents on the Propeny, if any;(e)yearly hazard or property insurance premiums;(d)yearly floal insurance premiums,
<br /> if any; (e) ycarly mortgage insurance premlums,if any; and(�any sums payable by Borrower to I.,ender, in accordance with
<br /> the provisions af paragraph 8, in lieu of the payment of mongag�insurance premiums. These items are called"Escrow Items."
<br /> Lender may, at any time, collect and hold Funds in an arnount nat to excad the maximum amoun[ a ler�der for a fedcrally
<br /> relatod mortgage loan may require for Bonower's escrow accounc under the federal Real Escate Settlement Procedures Act of
<br /> 1974 as amended from tink to time. 12 U,S.C.5ection 2601 et seq. ("RESPA"), unless another law that applies to thc Funds
<br /> sets a lesser amount. If so, Lender may, at any time, collect and hold Funds in an amount not to exce�d the lesser amount. �
<br /> I.onder may estimate the amount of Funds due on the basis of current data and reusonable estimates of expenditures of future
<br /> Escrow Items or otherwise in accordance with applicable law.
<br /> The Funds shap be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity
<br /> (including Lender, if Lender is such an institution)or in any Federal Hame Loan Bank. I.ender shall apply the Funds to pay the
<br /> Escrow Itecns. L.ender may not charge Bonower for holding and applying the Funds,annually analyzing the escrow account,or
<br /> verifying the Escrow ltems,unless Lender pays Bonower intcrest on the Funds and applicable law permi[s Lender tu make such
<br /> a charge. However, Lender may require Borrower to pay a one-time charge for an independent real estato tax reporting service
<br /> used by T..ender in conncetion witti this loan, unless applicable law provides otherwise. Unless an agrament is made or
<br /> applicablc law reQuires interest to be patd,Lender shall not be required to pay Borrower any interest or carnings on the Funds.
<br /> Borrower and Lender may agree in writing,however, that interest shall be paid on the Funds. L.ender shall gtve to Bonower,
<br /> without eharge, an annual accornting of the runds, showing credits and deoics io ihe Fu,►d�,uiu tri�pui��a f;,r wr.ic� YGYh
<br /> debit to tha Funds was rnade.T4e Funds are pledged as additional security for all sums secured by this Security Instrument.
<br /> If the Funds held by Lender exceed the amounts permittui to be held by applicable law,Lender shall uccoiint to Borcower
<br /> for the excess Funds in accordance with the requirements of applicable law. If the amounc of the Funds held by I.ender at any
<br /> time is not suffictent co pay the Fscrow ttems when due,L,ender may so notify Borrower in wri[ing,and, in such case Bonower
<br /> sball pay to Lender the amount necessary to make up the deflciency. Horrower shall make up the deficiency in no mare than
<br /> twelve monthly payments,at Lender's sole discretion.
<br /> Upon payment in full of all sums secural by this Security Instrument, l..ender shall promptly refund to Borrower any
<br /> Funds held by I.ender, If,under paragraph 21,Lender shall acquire or sell the Propeny, L,ender, prior to the acquisition or sale
<br /> of the Property,shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by
<br /> this Security Instrument.
<br /> 3.Applleation ot Payments. Unless applicable law pravides otherwise, all paymencs received by I.ender under paragraphs
<br /> 1 and 2 shall be applied: first, to any prepayment charges due under the Note; second, to amounts payable undcr paragraph 2;
<br /> third,to interest due;fourth,to princip�l due; and last, to any la�e charges due under the Notc.
<br /> 4,Chorges; Liens. Bonower shall pay all taxes, a�sessments,charges, fnes and impositions attributable to the Property
<br /> which may attain ri�riby pvjr is Security Instrument, and leasehold payments or ground rents, if any. aonower shall pay
<br /> ,� • . ..
<br /> these obligations in the manner rovidal in paragraph 2,or if not paid in that manner,Borrower shall pay them on time directly
<br /> to the person owed paymenc. Borrower shall promptly furnish to L.ender all notices of amounts to be paid under this paragraph.
<br /> If Borrower makes[hese payments directly,Borcower shall promptly furnish to Lender receipts evidencing the payments.
<br /> Borrower shall promptly discharge any lien which has priority over this Security Instrument ur,less Borrower: (a) agras in
<br /> writing to the payment of the obligation secured by the lfen in a manner acceptable to l,ender;(b)contests in good faith the tien
<br /> by, or deftnds against enforcement of the lien in, legal procadings which in the Lender's opinion operate to prevent the
<br /> enforcemeut of the lien; or(c) sxures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to
<br /> ttiis Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over
<br /> this Security Instrument, Lcuder may give Bonowcr a notia identifying the licn. Borrower shall satisfy the lien or take one or
<br /> more of the actfons set fonh aUove within 10 days of the giving of notice,
<br /> Form 3028 9I90
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