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<br /> i 'I'OGt�I'EiFR Wl'I'H all the improvementx now or hereufter erected on the property, and all easementa, ' ,t°�,t`
<br /> appurtenanc�,and fixtures now c,r hereatter a part of the property.All replacemen�s and additions shell also be coveted , ;_:;'_-=
<br /> _I by this Security Inetrument. All of the foregoing is reterred to in th�e Security Instrument ae the"Praperty." , ,`��;�,,,_,
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<br /> BURROWER COVENANTS that I3c�rrower is lowtully scised o[ the e9tate hereby conveyed and hea th�right 1�Q _ _
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<br /> grant und convey the Property and that the F'roperty is unancumbered, except tor encumbrances of record. BorrowCl� r�_`�
<br /> warrants and will detend generally the title to the Property againat all claims and demands,subject to any encumbrance� � ____
<br /> 04 record. � -- __
<br /> THIS S�CURITY INSTRUMEN'T cnmbines uniform covenants Eor national use and non-uniform covenants wit� _
<br /> limited variations by jurisdiction to constitute a uniform security inetrument covering real property. -
<br /> l UNIFORM COVENANTS. Borrower and I.ender covenant and agree aa follows: a �yhen du� '_ �--.-.-.
<br /> 1.Payment of Princip�l and Interest;Prepaymeat and Late Charges. Borrower ahall promptly p y
<br /> the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br /> 2. Funds for Taxes and Insurance. Subject to applicable Iaw or to a written waiver by Lender, Borrower ahal�
<br /> pay to Lender on the day monthly payments are due under the Note,until the Note is psid in full,a sum ("Funds")for:
<br /> (a) yearly taxes and assessments which may attain priority over this Security Instrument as a lien on the Property;(b)
<br /> yearly leasehold payments or ground rents on the Property,if any; (c) yearly hazard or propercy insurance premiums; _
<br /> (d)yearly flood insurance premiums, if any; (e) yesrly mortgage insurance premiums,if any;and(f)any sums payable
<br /> by Borrower to Lender,in acwrdance with the provisions of paragraph 8,in li�u of the payment of mortgage inaurance y:
<br /> premiums.These items are called"Escrow Items." I.ender may,at any time,collect and hold Funds in an amount not __-
<br /> to exceed the maximum amount a lender for a federally related mortgage loan may require for Borrower's escrow ,�:,�
<br /> account under the federal Real Estate Settlement Procedures Act of 1974 as amended from time to time, 12 U.S.C.
<br /> Section 2601 et seq. �"kESPA"),unless another law that applies to the Funds sets a lesser amount.If so,I.endcr may,
<br /> at any time,collect and i�nld Funds in an amount not to exceed the lesser amoun2.Lender may estimste the amount ot
<br /> Funds due on the basis of cureent data and reasonable estimates of expenditures of future Escro�v Items nr otherwise in . -
<br /> � accordance with applicable law.
<br /> Tha Funds shall be held in an institution whose deposits are insured by a federal agency,inatrumentality,ot entity ..'•--,t'•—
<br /> (including Lender,it Lender is such an inatitution)or in any Federal Home Loan Bank.Lender ehall apply the Funds to }�;;�
<br /> r pay the Escrow ltems.I.ender may not charge Aorrower for holding and applying the Funda, annuelly analyzing the ;�;;„ �:
<br /> escrow account,or verifying the Fscrow Items,unless l.ender pays Aorrower interest on the Punda and appliceble law �
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<br /> - permits l..�nder to mai;e such a chargo. H�wo�er, I.en3sr ma;• rcgui:e BorrQw�r *o pAy A �ne-time char�te for an _ ,�.�: __ _-
<br /> independent real estate tax reporting service used by I.ender in connection with this loan,unless applicable law provides 4 .�: ;}
<br /> otherwise.Unless an agreement is made or applicAble law requires interest to be paid, L.ender ahall not be required to �_
<br /> pay Borrower eny intere.st ar earninge on th�Funda.BorroHer and Lender may agree in writing,howevar,that interest z:
<br /> shall be paid on the Funds. Lcnder shall give to Borrower, without charge, an annual accounting af the Funcls,ehowing •
<br /> credits and debits to the Funds and the purpose tor which each debit to the Funds wea made.The Funds are pledged es �,��
<br /> additional security tor all aums secured by this Security Instrument. .' ; �..
<br /> If the Funda held by Lender exceed the amounts permitted to be held by applicable law,L.ender shell account to "� ��
<br /> Borrower for the excess Funda in accordance with the requirements oi applicable law.It the amount of tha Funda held ;•#s
<br /> by Lender at any time is not sufficient to pay the Fscrow Iums when due, Lender may so notify Bonower in writing,
<br /> and,in such case Borrower shall pay to Lender the amount necessary to make up the deficiency. Borrower shall mxke � ��---
<br /> up the deficiency in no more than twelve monthly paymenta,at Lender's sole discretion. ' .�_�`
<br /> Upon payment in full of all sums secured by this Security Instrumant,I,ender 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 ,_;����r
<br /> acquisition or sale of the Property,shall apply any Funds held by Lender at the time of acqu�s�tion or sale as a credit =
<br /> against the sums se.cured by this Security Instrument. '.���
<br /> . 3. Application of Payments. Unless npplicable law provides otherwise,all payments received by L,ender under '�`-�ay_
<br /> paragraphs 1 and 2 shall be applied: first,to ttny prepayment charges due under the Note;second,to amounta payable _,�-._
<br /> � under paragraph 2;third,to interest due;fourth,to pnncipal due;and last,to any late charges due under the Note. ��,s�p�M.,
<br /> � 4. Charges; Liens. Borrocver shall pay all taxes,�assessments, charges, fines and impositions attributabla to the ,•'��z�+���:a•
<br /> Property which may attain priority over this Security Insfrument, and leasehold payments or ground rents, if any. _-� _�
<br /> . Borrower shall pay these obligationc in the mnnner pruvided in paragraph 2, or if not paid in that manner, Borcower � �—�-
<br /> shall pay them on tirne directly to the person owed payment.Borrower shall promptly furnish to L.ender all notices of "''�µ°'��
<br /> amounts to be paid under this paragraph.If Borrawer makes these payments d►rectly,Borrower sha11 promptly turnish t.;':'':�►'
<br /> to Lender receipts evidencing the payments. 'z��;�''.,�,. ''��
<br /> Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) �
<br /> agrees in writing to the payment of the obligation se�:ured by the lien in a manner acceptable to L.ender; (b)contests in � .
<br /> good faith the lien by,or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion � .
<br /> operate to prevent the enforcement of the 1ien;or (c)secures from the holder of the lien an egreement satisfactory to �
<br /> I,ender subordinating the lien to this Security Instrument.If Lender determines thot any part of the Property is subject
<br /> to a lien �vhich may attain priority over this Security Instrument,Lender may give Borrower a notice identifying the I
<br /> lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of l .
<br /> � notice, '
<br /> Ferm 3028 9/90`r,
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