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<br /> 98- �'isx�z
<br /> TOGETHFR WITH all thc improvements naw or hercaRcr crectcd on thc property, and uil casements, appurtcnanccs, and
<br /> t"ixtures now or horeafter a part of thc pr�perty. All rcplascmcnts and additions shall alsa bc cavcrcd hy this Sccurity
<br /> Instrutnent. All of ihc forcgoing is rcfcrrcd to in this Sccuriry Instrumcnt as the "Properry."
<br /> RORROWER COVENANTS that Borrowcr is lawfully seised af thc estltc hcrcby convcycd and has thc rigln to grant and
<br /> convey tlie Propeny and that the Property is unencumhered, cxcept fur cncumbranccs of rcrord. F3orrawer warranls ;�nd will
<br /> defcnd generally ttie title to the Property against all claims and demaneis, subject to any cncumbranccs of rccord.
<br /> THIS 5ECURITY INSTRUMFNT combines unifonn covenwiu for national use and non-unifann covenants with limited
<br /> variuians by jurisdiction to constitute a unifonn security instrument covering rcal property.
<br /> UNIFORM COV ENANTS. Dorrower and I.ender covenant and agree as folla�es: —
<br /> 1, PAyment of Princlpal end Interrst; Prep�ymenl and l.ate Ch�rg�. Borrowcr shall promptly pay whcn duc thc
<br /> principal of and ini�rest on the dcbt evidenced by the Note and any prepayment and late chargcs duc undcr�hc Notc.
<br /> 2, k�nds for Ts�xes wnd Insurance. Subjcct to applicable law o� to a writtcn waivcr by Lender, Borrowcr shall pay to
<br /> I.onder on the day manthly payments aic due under the No[e,until rhe Note is paid in full, a surn("Funds")for:(a)ycarly t�xcs
<br /> and asscssments which may attain priority ovcr this Security Instn►mcnt as a licn on thc Property;(b)ycarly lcasehold paymcnts
<br /> or ground rents on the Properiy, if any;(c)yearly hazard or property insurance premiums; (d)yearly iloocl insurance premiums,
<br /> if a��y; (e) yearly mortgage insurance premiums, if any; and(�any sums payable by Borrower to Lender, in accordance with
<br /> the ptovisions af pzragrapl�B, in lieu of the payment of mongage insurar�ce premiums. These items are called "Escrow Items."
<br /> Lender may, at any eime, collect and hold Funds in an amount not to exeeed the maximum amount a Icnder for a federally
<br /> relattd mortgage loan may require for Borrower's escrow accoun[ under the federal Real Estate Setdement Procedures Act of
<br /> 1974 as amended irom time to timc, 12 U,S.C.Section 2601 er seg. ("RESPA"), unlcss anothcr law that applies to the Funds
<br /> sets a lesser amoun[. If so, Lender may, at any time,collect and hold Funds in an amount not to exeeed the lesser amount.
<br /> l.ender may estimate the amount of Funds due on the basis of current data and reasonsble estimates of expenditures of futurc -
<br /> Escrow Items ar oiherwise in accordance with applicable law.
<br /> The Funds shall be held in an institution whose deposits arc insured by a federal agency, instrumentality, or entity
<br /> (including L.ender,if I.tnder is such an institution)ar in any Fedcral Homc Laan Bank. Lender shall apply thc Funds to pa}�the
<br /> Escrow Items. L.ender may not charge Borrower for holding and appiying the Funds,annually analyzing the escrow account,or
<br /> verifying the Escrow Itcrns,unlcss Lender pays Borrawer interest on the Funds and applicable law permits Lender to make such
<br /> a charge, Howcvcr, Lender may require Borrowcr to pay a onc-timc charge for an independent real estatc tax repotting service
<br /> us�d by I..ender in connection with this loan, unless applicable law provides otherwise. Unless an agreement is made or
<br /> applicable law requires interest to be paid, Lcndcr shall not be required to pay Borrowcr any intcrest or earnings on thc Funds.
<br /> Borrower and L.ender may agrce in writing, however,that interest shall be paid on the Funds_ Lendcr shall give to Borrower,
<br /> without charge, an ar►nual accoun[ing of the Funds, showing credits and debits to the Funds and the purpose for which each
<br /> debit to the hunds was mauc.Tne Funds arc piedgcd:u a�iuiii��ia1 secui iiy,vP Al:SL'��„�C:.U�C..a. b�:lz:s S�C[Si�IDSI�S1ST:nnt
<br /> If the Funds held by Lender excecd the amounts permitted to be held by applicable law, L.ender shall account to 8orrower
<br /> for the excess Fu��ds in accordance with thc requiremcnts of applicable law. If the amount of the Funds held by Lender at a�iy
<br /> time is not sufficisnt to pay the Escrow Items when due, i..ender may so notify Borrower in writing, and,in such case Borrower
<br /> shall pay to I.ender the amount necessary ta make up the deficiency. Borrower shall make up�he deCiciency in no more than
<br /> twelve monthly payments, at L.ender's sole discretion.
<br /> Upon payment in full of all sums securcd by this Security Instrument, L.ender shall promptly refund to Borrowcr any
<br /> Funds held by Lender.If, under paragraph 21,L.ender shall acquire or sell the Propeny, Lcnder,prior to thc 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 securecl by
<br /> this Security Instniment.
<br /> 3.Applicatbn of Payments.Unless appiicable law provides otherwise,all payments received by l.ender under paragraphs
<br /> 1 and 2 shall be applied: first, to any prepayment charges due under the Note;sacond, to amaunts payable undcr paragraph 2;
<br /> third, to interesc due; fourth,tu principal due;and last,to any late chargcs duc under the Notc.
<br /> 4. Charges;I.iens. Borrower shall pay all taxes,assessments,charges, fiues and imrwsitions attributable to the Property
<br /> which may attain prlority over this Securi[y Instrument, and Ieaschold pay►nents or ground ren�s, if a+ny. Borrower shall pay
<br /> these obligations in tht���provided in paragraph 2, or if not paid in that manner,Borrower shall pay them on time directly
<br /> to the person owed payment. Horrower shall promptly furnish to Lender all notices of amounts to bc paid under this paragraph,
<br /> If Ronower makes these payments dircctly,t3orrower shall promptly furnish to Leuder receipts evidencing the payments.
<br /> Borcower shall promptly discharge any lien which has priority over!his Security Instrument unless Borrower:(a)agrees in
<br /> writing to the paymcnt of thc obligation sccurcd by the lien in a manner acceptable to Lender; (b)contests in gaod faith thc licn
<br /> by, or dcfends against enforcctncnt of the licn in, legal procccdings which in the Lendcr's opinion operate to prevcnt thc
<br />— enforcement of the licn; or(c) secures from the holdcr of the lien an agreement satisfactory to Lendcr subordinating the lien to
<br /> this Security Instrument. If Lender dctermincs that any part of thc Property is subjcct to a lien which may attain prioriry over
<br /> this Security Instmmen[, L,cndcr may give Borrower a noticc idcntifying thc lien. Borrowcr sYiall satisfy the lien or takc onc or
<br />= more of the actions set forth above within l0 days of the giving of notice.
<br /> — Form 3028 9/90
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