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<br /> 98- 1�.2'759
<br /> TCK3ETHER WITH all the improvetnents now or hereafter erectal on the pro�xrty,und ull ensements,nppurtenances, and
<br /> fi�:tures now or hereafter a part of ttie progerty. All replecemcnts and additions shall also be covered by this Security
<br /> Instrument. All of the foregoing is referrcd to in this Security lnstNmcnt ns the"Property."
<br /> BORRf�WBR COVENANTS that Borrower is lawfully seised of the estate hcreby conveyed and has the right to grant and
<br /> canvey the Property and that the Prop�rty is unencumberul,except for encumbrances of record. Borrower wnrrants and will
<br /> defend generally the title to Ihe Property against all clsims and demands, subject to any encumbrances of record.
<br /> THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with litnited
<br /> variations by Jurisdiction to constitute a uniform security instrument covering real property. '
<br /> UNIFORM COVENANTS.Borrovrer and i.ender covenant end agree as follows:
<br /> 1. Payment of Principal and Interest; Pnpayment and Late Chwrges. Borrower shall promptly pay when due the
<br /> principal of and intcrest on tha de6t cvidenc�d by the Notc and any prepayment and latc charges due under the Note.
<br /> 2. Fur�d4 for Ts►xes And InsurAnce. Subject to applicable law or to a written waiver by L.ender, Bonower shall pay to
<br /> Lender on the day monthly pnyments are due under the Note,until the Notc is paid in full,a sum("Funds")for: (a)yearly taxes
<br /> and assessments which ma.y attain priority over this 5ecurity InstNment as a lien on the Property; (b) yearly leaseholcl payments
<br /> or ground rents on the Property,if any; (c)yearly hazard or property insurance pre.miums; (d)yearly flood insurance pre►niums,
<br /> if any; (e)yearly mortgage insurnnce premiums, if any;and(t7 eny sums payeble by Borrower ta Lender, in accordance with
<br /> the provisions of paragraph 8, in lieu of the payment of mortgage insurance premiums.7 hese items are called"Escrow Iten�s."
<br /> I.ender mAy, at any time, collect and hold Funds in an amount not to exceed thc m�ximum amount a lcnder for a federally
<br /> relatexl mortgage loan may reyuire for Borrower's escrow accaunt under the federal Real Estate Settlemant Procedures Act of
<br /> 1974 as ume�uied from time to time, l2 U.S.C. Section 2601 e►seq.("RESPA"), unle.ss another law that applies to the Funds
<br /> sets a lesser amount. If so, L.ender may, at eny time, collect and hold Funds in an amount not to excr.ed tl�e lesser amount.
<br /> L.ender may estimate thc amou�u of Funds due on the bar,is of current data and reasonable estimates of expenditures of future
<br /> Escrow Items or otherwise in accordance with applicable law.
<br /> The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity
<br /> (including I.ender,if Lender is such an institution)or in any Fexieral Homc I.,oan Bank.I,endcr shall apply the Funds to puy the
<br /> Escrow Items. Lender may not charge�3orrower for holding and epplying the Funds, annually unalyzing the escrow account,or
<br /> verifying the Esr,row Items,unless Lender pays Horrower interest on the Funds and applicable law permits Lender to make such
<br /> a charga, Howover, Lender may require Borrower to pay a one•time churge for an independcnt renl estete tax reporting service
<br /> u.sod by L.ender in connection with this loan, unless a�plicable law provides otherwise. Unless an agreement is mucie or
<br /> applicable faw requires interest to be paid, Lcnder shall not be required to puy Borrower any interest or rarnings on the Funds.
<br /> Borrower and Lcnder may agre�in writing, however. that intenst shall be paid on the Funds. Lencfer shall givo to Borrower,
<br /> without charge, an annual accounting of tlie Funds, showing crtdi[s and dcbit� iu tiiz Fu��ds ar�� th:,purpcs:, f: •�hi;:h a:ch
<br /> debit to the Funds was made. The Funds are pledged us ndditional security for ali sums secured by this Security Instniment.
<br /> If the Funds held by[.ender exceed the amounts permitteci to be held by applicable law, L,ender shnll account to Bonower
<br /> for the excess Funds in accordunce with the requirements of applicable law. If the amount of the Funds held by Lender at any
<br /> time is not sufficient to pay the Escrow Items when due,Lender mny so notify Bonower in writing, and, in such case Bonower
<br /> shall pay to [xnder the xmount necessary to make up the de�ciency. Borrower shall make up the deficiency in no more than
<br /> twelve monthly paynxnts,at Lender's sole discretion.
<br /> Upon peyment in fidl of all sums secured by this Security Instrument, L.ender shall promptly refund to Borrower any
<br /> Funds held by Lender.If,under paregraph 21, I.e�xler shall acquire or sell the Property, Lender,prior to the acquisition or sale
<br /> of the Property, shull apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secural by
<br /> this Security Instrument.
<br /> 3.Appliej►tion ot Payments.llnless upplicable law provides otherwise,all payments recei��eci by i.ender under paragraphs
<br /> 1 and 2 shall be applied: first, to any prepayment charges due under the Note; sccond, to amounts payable under paragraph 2;
<br /> third,to interest due;fourth, to principul dve;and last,to any late charges due under the Note.
<br /> 4.ChArges; Liens. Borrower shall pay all taxes,assessrnents,charges,fines end impositions attributable to the Propeny
<br /> which may attain priority aver this Security Instrwnent, and leasehold payments or ground rents, if any. Borrower shall pay
<br /> these obligations in the manner providexl in paragraph 2,or if not paid in that►nanner,Borrower shall pay them on time directly
<br /> to the person owal payment. Bonower shall promptly furnish to Leuder all notices of amouttts to be paid under this paragraph.
<br /> If 8orrowcr makes these payments directly,Horrower shall promptly furnish to 1.ender receipts evidencing the payments.
<br /> Borrowcr shall prornptly discharge any lien which has priority over this Se;urity Instrumcnt unlcss Borrower: (a)agrees in
<br /> writing to the payment of the oblig2tion secured by the lien i►i a manner acceptable to Lender; (b)contests in good faith the lien
<br /> by, or defends against enforcement of the lien in, Iegal proccedings which in ti�e L.ender's opinion operate to prevent the
<br /> enforrement of the lien; or{c)sccures from the holder of the licn an agreement satisfactory to L.ender subcrdinating the lien to
<br /> this Security Instrumcnt. If Lender detcrmines that any part of thc Property is subject to a lien which may attain priority over
<br /> this Security Instrument, Lender may givc 8orrower a notice idcntifying the licn.Borrower shall satisfy thc licn or take onc or
<br /> more of the actions set fonh above witliin 10 days of the giving of notice.
<br /> Form 3028 9/90
<br /> Pegetof 8
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