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<br /> '�OGCTHER WITH all the improvements now or hereaftcr erected on the pruperty,and all eas9g ts. appurtenances, and
<br /> fixtures now or hec�sxfter a put of�he propeny, All replacemencs a��d edditions sha11 also be covered by this Security
<br /> Iwtru►nent.All of the foregoing is referced ta in this Security Instrument as the"Propeny•"
<br /> aORROWER COVENANTS thn Borrower is lawfully seised of the estate hercby convey�d and has the right to gran�and
<br /> wnvey the Property and that the Prope:ty is unencumberaf, except for encumbrwices of record.Aonower warrants and wtll
<br /> defend generally the title to the Yropeny against all claims and d�mands,subject to any cncumbrances af recnrd.
<br /> TH1S 5ECURiTY INSTRUIVIENT combtnes uniform covenants for national use and non-uniform covenants with limited
<br /> variations by jurisdiction w constitute a uniform security instniment covering real property.
<br /> UNIFORM COVGNANTS.Bonawer and L.ender covenanc and agree as follows:
<br /> 1. Payment of Princlpal and lnterest; Pirepayment and L,Ate Cherges. F3orrower shall promptfy pay when due the
<br /> principal of and interest on the debt evidencal by the Note and any prepayment and late charges due under the Nats.
<br /> 2. Funds for Taxes Aod Insunince.Subjcct to applicable law or to a written waiver by I.ender, Bonower shall pay to
<br /> Lender on the day monthly payments are due under the Note,until the No[e is paid in full, a sum('Funds") for: (a)yearly taxes
<br /> and usessmGnts whieh may attain prionty over this Securi[y Instrument as a lien on thc Property;ib)yearly leuehold payments
<br /> or ground rents on the Property,if any; te)yearly hazard or property insurance premiums; (d)yearly flood insurance premiums.
<br /> if any; (e)yearly mortgage insurance premiums, if any; and(fl any sums pnyable by Bonower to L:nder, in accordance with
<br /> the provisions of para$nph 8, in lieu of the payment of mongagz insurance premiums.These items are called"Escrow Items."
<br /> I.,ender may, at any time. collxt and hald Funds in an amount not to excad the maximum amount a lender for a federally
<br /> r�l�t�,d mortgage loan may rcquire for Boaowar's escrow account under the federal Real Estate 5ettlement Proceduns Act of
<br /> 1974 as ame�ded from time to time,12 U,S.C. Scction 2601 d seq. ('RESPA"), unless another law that applies to the Funds
<br /> scts a lesser amount. If so, l..ender may, at any time, coUect and hold Funds in an amount not to exceed�he lesser unount.
<br /> Lender may estimate the amount of Funds due on thc basis of current data and reasonable estimates of ezpenditures of futurc
<br /> Fscrow Items or otherwise in accorduK:e with applicable law.
<br /> The Funds shall be held in an ins[itution whose deposits are insured by a federal agency, instrumencality, or enciry
<br /> (including L,ender, if Lender is such u� iastitution)or in any Federal Home Loan Bank.L.ender shall apply the Funds to pay the
<br /> Eacmw Items.Lender may not charge Bo�TOwer for holding and applying the Funds, annuaUy anilyzing the acrow account,or
<br /> verifying the Escrow Items,unlas Lrnder pays Borrawer intocest on the Funds and applicable law permits Lender[o make such
<br /> a c6arge.Howev�r. I.ender noay require Borrower[o pay a one-time charge for an independent real estate tax reporting service
<br /> used by Lender in connecti�n with this loan, unlass applicable law provides othenvise. Unless �n agmment is mad� or
<br /> applicable law requins interat to be paid,I..ender shall not be required to pay Bonower any in[erest or earnings on the Funds.
<br /> Borrower and Lender may agra in writing, however,chat incerest shall be paid on the Funds. Lender shall give[o Borrower.
<br /> ..,i��,�r charae. an annual accounting of the Funds, showing credits and debits to the Funds and the puipose for which each
<br /> debit to the Funds was made.The Funds are pledged u additional security ior aii sums securai uy u�is S�.u,—�ry IrN;r,:::eat•
<br /> If[he Funds held by Leader exceed the amounts permittcd to be held by applicable law, Lender shall �ecount co Borrower
<br /> for the exass Funds in accord�nce with�h� re9uircments of applicable law. lf�he amount of the Funds held by Lend�r at any
<br /> dme is not suffici�nt to pay the Escrow I�ems wben due,I,ender may so notif��Borrower in writing,and, in such case Borrower
<br /> shall pay to Lender the amount nocessary�to maY.e up the deficiency. Bonower shall mako up the deficiency in no raore ihan
<br /> twelve monthly payma►ts.at Lmder's sole discretion.
<br /> Upun paymeat in fall of�ll sums securod by this Security Instrument. Lender shall prompdy refund to Borrower any
<br /> Funds hdd by Lendsr•If.under Aar�BmPh 21,l.ender shall�cquin or sell the Properry, L�nder,prior to the acquisition or sale
<br /> of the Propeny, shall ipply any Funds held by Lender at the time of acquisition or s�le as a credit agunst the sums savred bY
<br /> this Security Instruweat.
<br /> 3.AppUation of Paymmts.Unless applicable l�w provides otlterwise,all payments meivcd by Lender rmder puagtap�
<br /> 1 u�d 2 shill be applied: first,to anY PnP�Y�nt chuges due i:ader the Note;second, to unoun�S�yaYik iu�t P�iB�P
<br /> third,to interest due;fourth,to principal due;and last,to any late chuges due under the Note.
<br /> 4. Charges; Lieas. Borrower shall pay�11 tua,aisessments.chuSa, fines and impositions utribut�ble to the Propecty
<br /> which may attun priority over ttnis Securiry Instrument, and lasehold payments or ground rencs, if any. Borrower shall pay
<br /> these obligations in the rr�nner provided in puaBraPh 2,or if no[paid in that manner,Borrower shali pay them on time directly
<br /> to tbe person owed payment. Borrowtr shall promptly furnish to Lender a11 notices of uix�unts to be paid under this puagraph.
<br /> If Borrower m�lces thae paymmts dinxtly, Borrower s1�a11 prompdy furnish to Lender receipts evidencing tLe payments.
<br /> Borrower shall pmmptly dischuge u►y lien which has prioriry over this Sauriry Instrument unless Bortower: (a)agms in
<br /> writing to the payment of the obliguion secured by the lien in a muiner acceptable to Lcnder, (b)contests in good faith the lien
<br /> by, or def�nds againsc enforcemenc of the lien in, IeRal procadings which in che I.ender's opinioa opertue t� prevent the
<br /> enforcemenc of the lien; or(c)secures from the holder of thc lien m agreement satisf�ctory co Lender subordinuing the lirn to
<br /> this Security lnscrumrnt. If I.ender determines that any pan of the Propeny is subja[co a lien which may attain priority over
<br /> this Secu�ity Instrument, Lender mry 8ive Borrower a notice identifying the lien. Boaower sh�ll satisfy the lien or alce ono or
<br /> more of the actions set forth above within 10 days of the giving of notice.
<br /> Form 3028 9/90
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