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<br /> TOGETHBR WITH all the impravements now or hereafter ercetad on the property, und all c�sements, appurtenances,and
<br /> fixtures now or hercufter a part of the propeny. All replecements and aCditfons shall also bc covered by this Security
<br /> instrument. All of the faregoing is referrec!to in this Security Instniment i►s the "ProExnv."
<br /> BORROWGR CAVE?NANTS that Borrawer is lawfully seised of the cstute hcrcby conveycd und hns the right to grant and
<br /> convey the Praperty and that the Property is unencumberai, except for encumbrnnces of record, Borrower wnrnuus and will
<br /> defend generally the tiUe to the Property ugainst all claims and demands, subject to uny encumbr�►nces of n;cord.
<br /> THIS SNCURITY INSTRUM�NT cambines uniform covenants For nntional ust nnd non-uniform covenunts with litniteci
<br /> variutions by jurisdiction to constitutc u unifar►n security instrumcnt covcring rcul property.
<br /> UNIF�QFLM COVENANTS. Borrower and Lender covenant and ngree as fallows:
<br /> 1. PAyment af Principwl �►nd Interesl; Pre{u�yment and LAte Cl�arges� I3orrowcr tihall promptly pay wlicn duc the
<br /> principal of and interest un tl�e debt evidenced by the Note and nny prepayment and late charges Jue under the Note.
<br /> 2. Funds for Twxe.v�nd Insurance. Subjcct to npplicable law ar to n written waiver by I.ender, Borrower shull pay to
<br /> I.ender on thc day montlily payments arc due under the Notc, until thc Notc is paid in full, a sum("Funds") for: (a)ycarly taxes
<br /> and ussessments which may attain priori[y over this Security Instrument us a lien on the Property; (b)ycurly la�sehold paynxnts
<br /> ar ground rents on the Property, if uny;(c)yearly hazard or property insurance premiums; (d)yearly flood insurance premiums,
<br /> if uny; (e)ycarly mortgage insurance prerniums, if any; und (�any sums payable by Borrower to Lcndcr, in accordancc: with
<br /> the provfsions of paragraph 8, in lieu of the payment of mortgage insurance premiwns.These items u�e called"Escrow Items." —
<br /> Lender ►nuy, at nny time, collect und hold Funds in an amount not to excced the maximum amount a lender for a feclerully
<br /> related mc�tgage loan may require for 9orrower's escrow account under the federal Real Estato Settlement Proceclures Act of
<br /> 1974 as amended from time to time, 12 U.S.C. Scction 2601 et seq, ("R�'SPA"), unless another law that applies to the Funds
<br /> sets a lesser amount. If so, I..cnder muy, at any time, collect and hold Punds in an amount not to exceecl the lesser amount.
<br /> Lcnder may estimate the amount of Funds duc on the basis of current data and reasonable cstimates of expcnditures of future
<br /> Escrow Items or otherwise in accordance with applicable law.
<br /> The Funds shall bc held in nn institution whose deposits are insured by a federal agency, instrutnentality, or entity
<br /> (including Lender, if Lender is such an insti[ution)or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the
<br /> Escrow Items. L.ender may not churge Borrower for Itolding and applying the Funds,annually analyzing the escrow account,or
<br /> verifying the Escrow Items, unless Lender puys Borcower interest on the Funds and applicable law permits Lender to make such
<br /> a charge. However,Lender may require Borrower to pay u one-time charge for an independent real estate tax reporting service
<br /> used by Lender in connection with this loan, unless applicablc law provides otherwise, Unless an agreement is made or
<br /> applicable law requires interest to be paid, i.cnder shall not be required to pay Borrower�ny interest or earnings on the Funds.
<br /> 13orrower and I.ender may agrec in writing, however, thut interest shall be paid on the Funds. Lender shall give to Borrower,
<br /> without charge, an unnual accounting of the Funds, showing credits and debits to the Funds and the purpose for which ea►ch
<br /> debit to thc Funds was made.The Funds are pledgcd as additional sccurity for nll sums secured by this Security Instrument.
<br /> If the Funds held by L.ender exceed the nmounts permittcd to be held by applicabie law, Lendcr sfiaii accoun[[o Borrowcr
<br /> for the excess Funds in uccordance with thc requirements of applicable luw. If the amount of the Funds held by L,ender at any
<br /> time is not sufficient to pay the Escrow Items when due, Lender may so notify Borrower in writing, and, in such case Borrower
<br /> shall pay to Lender the nmount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than
<br /> twelve monthly payments,ut Lender's sole discretion,
<br /> Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any
<br /> Punds held by Lender. If,undcr paragraph 21, Lender shall acquirc or sell the Property, Lender, prior to the ucquisltion or salc
<br /> of the Property,shxll apply any Funds held by L,ender at the time of'acquisition or sale us a crcdit against thc su►ns secured by
<br /> this Security Instrument.
<br /> 3.Applieation of Payments,Unless applicable law provides othenvi�e,all payments received by Lender und�r paragraphs
<br /> 1 and 2 shall be applied:first, co any prepayment charges due under the Note; second, to amounts payable undcr paragraph 2;
<br /> third,to interest due;founh,to principal due;and last, to any late chai•ges due under the Note,
<br /> 4.Charges; Llens.Borrower shall pay all taxcs, assessments, charges, fines and impositions attributable to the Property
<br /> which may attain priority over this Security Instrument, and leaseliold payments or ground rents, if any. Borrawer shall pay
<br /> these obligations in tlie munner provided in paragrAph 2,or if not paid in that manncr,Borrower shall pay them on time directly
<br /> to the person owcd paynicnt. Borrowcr shall promptly furnisl�to Lendcr all noticcs of amounts to be paid undcr this paragraph.
<br /> lf Borrower makes tliesc paymcnts directly,Sorrower shall promptly furnish to Lender receipts cvidcncing thc payments.
<br /> Borrower shall promptly discharge any lien whieh ttas priority over ti�is Security Instrument unless Borrower: (a)agrces in
<br /> writing to the payment of the obligation secured by thc lien in a manner acccptnblc to Lcnder;(b)contcsts in good faith[he lien
<br /> by, or dcfcnds against enforcement of the licn in. Icgal proccedings which in thc Lender's opinion operete to prevent the
<br /> enforcement of the lien;or (c)secures from the holder of tlie lien hn agrcement satisfactory to Lender subordinating the lien to
<br /> this Sccuriry Instrumcnt. If Lendcr detcrmines that any part of thc Property is subjcct to a licn which may attain priority ovcr
<br /> this Security Instrument,Lender may give$orrower a notice identifying the lien. Borrower shall satisfy the lien or take one or
<br /> more of the actions set fonh abovc within 10 days of thc giving of nuticc.
<br /> Form 302A 9/90
<br /> Pege Y of�
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