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<br /> TOGfiTF1ER WITH all the improvements now on c�rcafter erected on the property, and all ensements, uppurtenances,and
<br /> fixtures now or hereafter a pnn of ehe property. All replacNments and udditions shall also be covereA by this Security
<br /> Instrumcnt.All of thc foregoing is refcrrcd to in ihis Security Instrumcnt ns the"!'roperty."
<br /> aORROWER CQV�?NANTS that Borrowcr is lawfully scisal of thc estatc hcrcby convcycd and hns tl�c right to grunt and
<br /> convey the Pmpeny and that the Property is wicncwnbcrccl, cxccpt for cncumbrances of rccord. Barrowcr warrr�nts anii will
<br /> defend generaily the title to the Property against all claims and demands,subject to any ciuumbrunces of record.
<br /> THIS SECURITY INSTRUMENT combincs uniform covenants for nutional usc and non-uniform covcnants with limitcd
<br /> variations by jurisdiction to constitutc a uniform sccurity instrumcnt covcring real property. .
<br />- UNII�ORM COVENANTS.Burrower nnd Lendcr covenant �md agrcc as fnllo���s: _
<br /> l. Payment of lMncipal And Intet�.st; Prepayment and Late Charges. Borrower sl�nll promptly pay when duc the
<br /> principal of and intcrest on thc dcbt evidenced by the Note und any prcpaymcnt and lutr.chargcs due under thc Notc.
<br /> 2. Funds for Toxes And Iasurance. Subject to appli�:able law or tn a writtcn waiver by Lendcr, Borrowcr shull pay to
<br /> Lendcr on the day montt�ly paymcnts are due under thc Notc,until the Note is paid in full,a sum("Funds")for: (a)ye.urly taxes
<br /> and assessments which may attain priority over this Security Instrument as a lien on the Property;(b)ycarly Ieaseliold payments
<br /> or ground rents on the Property,if any; (c)ycarly ha��trd or property insuruncc prcmiums;(d)ycarly flood insurance premiums,
<br /> if any; (e)yearly inortgabe insurance premiums, if any; and(� any sums payable by Borrower to l.ender,in accordance with
<br /> the provisions of paragraph 8, in lieu of the payment of mortgage insurunce premiums. These items are called "Escrow Items."
<br /> Lender may, at any time, collut and hold Funds in an amount not to exceed the maximum amount a lender for a federully
<br /> related mortgagc laan►nay require for Borrower's escrow account under the federal Real Estate Settlement Procedures Act of
<br /> 1974 as amend�.d from time to time, 12 U.S.C. Section 2601 er seq. ("RESPA"), unless anothcr law that npplics to the Funds
<br /> sets a Iesser amount.If so,Lender may, at any time, cnllect and hold Funds in zn amount not to exceed the lesser amount.
<br /> Lendcr mny estimutc thc anwunt uf Fu►�ds due on the basis of currcnt data and rensoneble estimates of�xpenditures of future
<br /> Gscrow Items or otherwise in accordance with applicable law.
<br /> The Funds shall be held in an institution whose depc�sits arc insured by a federal agency, instrumcntality, or entity
<br /> (including L.ender, if Lender is such an institution)or in any Federal Home Loan Bank. Lender sliall apply the Fwids to pay the
<br /> Escrow ltems. [,ender may not charge Aorrower for holding and upplying the Funds, annually unalyzing the es�row account,or
<br /> verifyi�ig the Escrow Items,unless L.ender pays Borrower interest on the Funds and appli�able law permits Lender to make such
<br /> a charge. Huwever, Lendrr may rcyuire Borrowcr to pay u une-time ch�rge for an independent real estate tax reporting urvice
<br /> used by I.ender in connection with this loan, unless applicable law provides atherwise. Unless an agreement is made or
<br />- applicable law requires intcrest to be paid,Lcnder shall not be required to pay Borrower any intcrest or earnings on thc Funds.
<br /> Borrowcr and Lender may ngrec in writing, however, tliat interest shall be paid on the Funds. Lcnder shall give to Borrower,
<br /> without charge, an nnnual accounting of the Funds, showing credits and debits to the Hunds and the purpose for which each
<br /> ' uevii tu iLc FuiidS�°d'a 1�'�:tdC. T�C i L'Bds:irC pl:,3bcd«°�dd::lo^»�seC�!r;ry f'�,r��t cumc�ecured by this Securiry Instrutnent.
<br /> If the FunAs held by I.ender exceed the amounts permitted to be held by applicable law, Lender shall account to Borrower
<br /> for thc exccss Funds in accordance wir.h tlic requiremcnts of applicable law. If the amount of the Funds held by L.ender at any
<br /> time is not sufficient to pay the Escrow Items when due,Ixnder may sa notify Borrower in writing, and, in such case Bonower
<br /> shull pay to L�:ixler the amount necessury to make up the deficiency. Borrower shall make up the deficiency in no more than
<br /> twelvc monthly payn�ents,at Lender's sole discretion.
<br /> Upon payment in full of all sums secured by this Security Instrument, i.ender shall promptly refund to Borrower any
<br /> Funds held by Lcnder. If,under paragruph 21, L.cndcr shall acquire or sell tl�e Property,l.cndcr,prior to the acquisition or sale
<br /> of the Property,shall apply any Funds held by Lender nt tlie time uf acquisition or sale as a credit uga9nst the sums secured by
<br /> this Securiry Instrument.
<br /> 3. Applieation of Payments. Unless:►pplicable law provides otherwise,ail payments received by Lender under paragraphs
<br /> I arxl 2 shall bc applied: first,to any prepayment charges duc undcr the Note; second, to amounts payablc under paragraph 2;
<br /> third,to interest duc;founh, to principal due;:►nd last,to any late charges due under the Note.
<br /> 4. Charges; Liens. Borrower sliall pay all taxes,assessmcnts, charges, fines and impositions attributablc to the Property
<br /> which may attain priority over this Security 7nstrument, and lcasehuld payments or ground rents, if any,Borcower shall pay
<br /> Ihese obligatioti:,in the nienner providecl in paragraph 2,or if�ot paid in tliat manner,Borrower shall pay them on time directly
<br /> ro thc person owcd payment. Borrower shall promptly furnish to Lcndcr aQ notices of amou�its to be paid wx!er this paragraph.
<br /> (f Borrower makcs thesc papmcnts dircctly, Aorrower shall promptly fumish to Lcndcr rcceipts cvidencing thc payments.
<br /> Borrower shall prornpd�discharbe any lien which has priarity over this Securiry Instrument unless Borrower: (a)agrees in
<br /> writing to thc payment of�hc obligation secured by tlic lien in a manncr acceptablc to Lcndcr;(b)contcsts in good faith thc lien
<br /> . by. or defends against enforccment of the lien in, Iegal procecdings which in the Lender's opinion operate to prevent the
<br /> enforcement of the lien; ur(c)secures from the hoider of the licn an agrecment satisfactory to Lendcr subordinating the lien to
<br />— Ihis Securiry Instrument. If L.ender detemiines that any part of the Property is subjcci to a iien which may attain priority over
<br />— this Securiry Instrument. Lendcr may gi�•c Borrower a notice identifying dic lien. I3orrower shall satisfy the lien or take one or
<br />— more uf thc ar.tiuns set forth above within 10 days of the giving of notice.
<br />— Form 3028 9/90
<br />— P�ge 2 0l 6
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