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<br /> � 98- �12'732
<br /> TOGETHGR WITN all th�improvcm�nts now or hereaftcr crcctcd�m thc propeny,1nd all casemcnts,;,pp�.�rtcnanccs, and _
<br /> fixturea now or hereafter a part of the propcny. AU rcplacementy and adcliti�ns shal! also bc covcrcd hy this Security
<br /> Instrument.Atl of thc foregoing fs refcrrGd to In thl�Sccurl[y Inslnimcnt us thc "Pro�Crty,"
<br /> HORROWER COVk?NANTS thet Borrawer is lawfully ufsed oP thc cstate hcrehy conveycd and has ihe right to grant and
<br /> `onvcy the Properry and th�t thc Property is uncncumbcrr,cl,cxccpt for encwnbranccs of rccord. I3nrrowcr warrants and wili
<br /> defend gener�lly the title to the Pra�xny ageinst a1�claims and demands,subJsct to any encumbrinces af record.
<br /> THIS SG�URITY INSTRUMENT combinc�uniform covcnants for national usc and non-unifarni covcnants with limitcd
<br />' vaziatlons by jurisdiction to co�2stitutc a unifonn sccurity instrumcnt covcring rcal property. _
<br /> UNIFORM COVENANTS.Borrowcr and L,ender covenant and agrec as fallow�:
<br /> 1. PAyment af P��incipwl And Interest; prepwyment and I.atr Chwrgea. Iiorrow�r shall prorriptiy pay when due the
<br /> prfncipal of and interest on the debt evidenced by the Note and any prepaymen[and late charges due under the Note,
<br /> 2,Funds for Taxas and InSUrnnce. Subject to applicabl� law or to a written waiver by l.endcr, Borrower shall pay ta
<br /> I.enderon the day monthly payments are duc under the Note,until the Note is paid in full, a sum("Funds")far: (a)yearly taxes
<br /> and asussments wiiich may attain priority over this Security Instrument as a lien on the Propeny;(b)ycarly Icasehold paymcros _
<br /> or ground rents on the Property,if any; (c)yearly hazard or propeny insurance premiums; (d)yearly flaod insurance premiums,
<br /> if any;(e)yearly mortgage insurana prcmiums, if any; and(� any sums payable by Borrawcr[o L.ender, in accord:►nce wi�h
<br /> the pravisions of paragraph A, in lieu of the paymcnt of mortgagc insurancc premiums. These items are called "Escrow ltcros."
<br /> Lender may, at any time, collect and hold Funds in an amount not to cxceed the maximum a�nount a Icndcr for a federally
<br /> related mortgage loan may require for Borrower's escrow accouat under the federal Real Bstate Setticmcnt Proceciures Act of
<br /> 1974 as amendal from time ta time, 12 U.S.C. Scction 2601 et seq. ("RESPA'), unlcss another law that applies to the Funds
<br /> sas a lesser amount. If so, I.ender may, at any time. coltect and 1►old Funds in an amount nat ta exceed the lesser am�unt.
<br /> Lenller may estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of futurc
<br /> Escrow Items ar atherwise in accordance with applicable law.
<br /> The Funds shall be held in an institution whose deposits are insured by a federal agency, instn�mentality, or entity
<br />_ (including l.ender, if Lender is such an institution)or in any Pederal Home t.oan Aank.Lender shall apply the Funds to pay ihe
<br /> Escrow IYems. Lender may not ct►arge Borrower for holding and applying the Funds,annually analyzing the escrow account,or
<br /> veritying ihe Escrow Items,unless Lender pays Borrower interest un the Funds and applicable law permits Lender to make such
<br />- a cttarge. However,Lender may require Borrower to pay a one-time charge for an independent real estate tax reporting service
<br /> used by Ltnder in connection with this loan, unless applicable law provides otheiwise, Untess an agreement is mado or
<br /> applicable law requires interest to be paid, I.ender shall not be required to pay Borrower any interest or earnings un the Funds.
<br /> Borrower and Lender may agree in writing, however, that interest shall be paid on the Funds. I.ender shall give to Borrower.
<br /> wlthout chuge, an annuai accouniing �r cr�e r��,u,, show:r,a c:^„ciis�^.nd��bics �^the F�mdc and the ouipose for whieh eaCh
<br /> - debit to tlie Funds was mada The Funds are pledged as additional security for all sums secured by this Securiry Instrument.
<br /> If the Funds held by Ltnder excecd the amounts permitted to be held by applicable law, L,ender shall account to Borrower
<br /> for the excess Funds in accordance with the requirements of applicable law. If the amount of the Funds held by I.ender at any
<br /> tiine is nat suf6cient to pay the Escrow Items when due,L.ender may so notify Boirower in writing,and,in such case Aorrower
<br /> shall pay to I..ender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than
<br /> twelve monthly payments, at Lcnder's sole discretion.
<br /> Upon payment in full of all sums secured by [his Security Instrument, Lender shall promptly sefund to Borrower any
<br /> Furids hcld by Lender. If, under pazagraph 2l, Lender shall acquire or sell thc Property, l.ender,prior to the acquisition or sale
<br /> of the Property, shali apply any Funds held by l.endcr at the time of acquisition ur sale as a credit against the sums secured by
<br /> this Security Instrumenc.
<br /> 3. AppNcsitlon ot PAyments.Unless applicable law provides othcrwisc,all payments reccived by l.ender under paragraphs
<br /> I and 2 shall br,appliul: first, to any prepayment charges due under[he Note;second,to amounts payable under paragraph 2;
<br /> third,to interest due;founh,to principal due;and last,to any late charges due ur►der the Note,
<br /> 4. Charges;Liens. Borrower shall pay all taxes,assessments,charges, fines and impositions attributnble to the Property
<br /> which r�uy attain priority over ihis Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay
<br /> Ihese obligations in the manner prn"vidcd in paragraph 2,or if not paid[n that manner.Borrower shall pay them or�timt directly
<br /> - to the p�rson owed paymcnt. Bonuwcr shall promptly furnish to l.ender all noticcs of amounts co be paid under this paragraph.
<br /> If Borcower makes these payments directly, Borrower shall promprly furnish to Lender receipts evidencing the payments.
<br /> Bottowcr shall promptly dischargc any lien which has priority over this Security Instrument unless Bnrrower: (a)agrces in
<br /> writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b)contests in good faith the lien
<br /> by, or dcfends against enforcement of the lien in, legal procecdings which in the Lender's opinion operate to prevent the
<br /> enforcernent of the lien;or(c)secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to
<br /> this Security Instrumcnt. If Lender dctermincs that any pan of the Property is subj::cc to a lien which may attain priority ovcr
<br /> this S�curity Instrumcnt, L.ender may give Borrowcr a noticc identifying thc licn.Borrower shall satisfy the lien or takc onc or
<br />-- morc of the actions sct forth abovc within 10 days of thc giving of noticc.
<br /> Form 3028 9/90
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