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<br /> _ _ _ _ _ 98- �1�'780
<br /> TOGGTHP.R WITH all�hc Improvcrncnts now an c�rcafter crccted on thc property,and all casemcnts, appurten�nces,and
<br /> fiztures now or hercaRcr n pan of thc property. AU rcplacc�icnts and additians shall also Ix covcred by this Security
<br /> Instn�ment,All af the foreg��ing is rcferred�o in this Sccuriry Instrument as thc "ProExrty."
<br /> BORRAWER COVG'NAN1'S�hAt Borrowcr is lawfully sclsed of thc cstatc hcrcby convcyccl and hns tl�c right io grant nnd
<br /> convey the Prop�.ny and ►hat the Praperty is unencumbercd, exeept for encumbranees of ecrorel. f3orrower warrants;ind will
<br /> defend generally the title io the Pro�riy against all claims nnd demands,subject to any encumbr:►nces of rceurd.
<br /> 'fHIS SGCURI7'Y INSTRUMENT combines uniform covenants for nadonal use and non-uniform covcnanis with limited
<br /> v�ri�lions by jurisclictian to consti�ute a uniform sccurity instnuncnt covcring rcal pro{xrty.
<br /> UNIFORM GOVENANTS. Borrowcrand Lcnder covenant and agrec as fallows:
<br /> l� Poymewt o� 1Mnct{wl �nd Interest; Prepwyment And I,Ate Chargen. Bc�r�owcr shall promptly p�y whcn duc thc
<br /> principal of and imerest on the debt evidenced by the Note and any prepayment and late ch;►rges due under the No�e.
<br /> 2. Funds for Ts�xes And In�urance.Subject to applicablc law or to a wriucn waiver by Lender, sorrower shaU pay to
<br /> Lcnder on the day monthly payments arc duc under�he Note,until ihe Note is paid in full,a suin("Funds")for:(�) ycarly iaxes
<br /> and acsessments which may attain priority over this Security Instrument as a licn on the Praperty:(h)yearly Ieasehold payments
<br /> or ground rents on ihe Property, if ai ry;(c)yearly hartrd or propeny insurance premiums; (d)y�arly ilaxi insurance premiums,
<br /> if any; (e)ycarlv mongage insurancc prcmiums, if any; artd(� any sums payablc by Borrowcr to L�:ndcr, in accordancc with
<br /> thc provisions of paragraph 8, in lieu of the�ayment of mortgage insurance prcmiums. Thesc items are callcd "Escrow Items,"
<br /> I.cndcr may, at any [ime, collcct and hold Funds in an amount not to excced the maxinjum amount a Icnder for a federally
<br /> related mortgage loan may require for Borrower's escrow accaunt under the federal Real F.stace Settlement E�rocedu�es Act of
<br /> 1974 as amended from time to time, l2 U.S.C. Section 2601 et srq. ('RESPA"), unless anolher law that applies to tht Funds
<br /> scts a Iessar amount. !f so, L,ender may, u any time, collcet and hold Funds in an amount not to exceed the lesscr amount.
<br /> L.endcr may estirnatc the amoun[of Funds due on the basis of current data and reasonable cstimates of expenditures of future
<br /> Escrow Items or oiherwise in accordance with applicable law.
<br /> Ti�e Funds shall be held in an institution whose deposits are insured by a federal ag�ncy, instrumentality, or entity
<br /> (including Lender,if Lender is such an institution)or in any Fcderal Home I.oan Bank. l.ender shall apply the�unds to pay the
<br /> Escrow Items.L.ender may not charge Borrower for holding and applying the Funds,annually analyzing the oscrow account, or
<br />_ veritying the Fscrow Items,unless Lender pays Bonower interest on the Funds and applica6le law permits l.cnder to make such
<br /> a charge.However, Lender may require Borrower to pay a one-time charge for an independent real estate tau reporting scrvice
<br /> us�xl by Lender in connection with this loan, unless applicable law provides otheswise. Unless an agrecment is madc or
<br /> applicable law r�quires inter�st to be paid,Lender shail not be required to pay Borrower any ir�terest or eamings on tha Funds.
<br /> Borrower and Lcnder may aqrec in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower,
<br /> �vithn��t charee, an annual accountinR of the Funds, showing credits and debits to the Fands and the purpose for whicb each
<br /> debit to the Funds was made.The Funds are pledged as additional security for all sums securca by[his 5ecuriry Insuument.
<br /> If the Funds hcld by Lcnder excted the amounts permitted to be held by applicab(t I�w,Lender shall account to Bortower
<br /> for the excess Funds in accordance with the requirements of applicable law. [f the amount of the Funds held by Lznder at any
<br /> time is not sufficient to pay the Escrow Items when due,Lender may so notify Borrower in writing, and, in such cax 3orrower
<br /> shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than
<br /> twelve monthly payments. at Lender's sole discretion.
<br /> Upon payment in full of all sums secured by this Security Instrument, Lcndcr shall promptly refund to Borcower any
<br /> Funds held by I�ender.If, under paragraph 21,Lender shall acquire or sell the Propeny,L.ender,prior to the acquisiti�n or sale
<br /> of the Property. shall apply any Funds held by Lender at thc time of acquisition or sale as a credit against the sums secured by
<br /> this Security lnstrument.
<br /> 3. App�ies�tion ot Ps�ymertts.Unless�pplicable law provides otherwise, all payments received by Lender under paragraphs
<br /> 1 and 2 shall be applied: firs[, to any prepayment chazges due under the Note;second,to amounts payable under paragraph 2;
<br /> third,to interest dua;fourth,to principal due;and last,to any late charges due under the Note.
<br /> 4. Chorges;Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to thc Property
<br /> which may attai�priority over this Secunty Instrument, and leasehold payments or ground rents, if ar►y. Borrower shall pay
<br /> these obliga[ions in the manner ptovided in paragraph 2,or if not paid in thac martner, Borrower shall pay thern on time directly
<br /> to the person owcd payment. Borrower sAall promptly furnish to Lender all notices of amounts to be paid under th:s paragraph.
<br /> (f Borrower makes these payments directly, Borrower shall prornptly fumish to Lender receipts evidencing the payments.
<br /> Borrower shall promptly discha��ge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in
<br /> W riting co the payment of the obligation secured by the lien in a manner accep[able to Lender; (b)contcsts in good faith the lien
<br /> by, or defends against enforcemr.nt of �he lien in, legal proceedings which in the l.ender's opinion operate to prevent the
<br /> enforcement of t6e lien; or(c)secures from the holder of the lien an agreemen�satisfactvry to Lender�ubordinating the lien to
<br /> this Security instNment. If Lender determines that any parc of the Propeny is subject to a lien which may attain priority over
<br /> this Securi[y Instrument, Lender may give Borrower a nocice identifying the lien. Bormwer sh�ll satisfy the lien or tal:e one or
<br />= mom of the actiui�s set forth above within l0 days of the giving of notice.
<br /> Fwm 3025 9/90
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