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<br /> TOGETHER WITH all the improvements now or hereaftor erectecl on the p�operty, and ail easements,appurtenances, and
<br /> fixtures now or hereafter a part of the property. All replacements and additions shall nlso be covered by this Security
<br /> In�trument.All of the foregoing is refenai to in this Security Instrument as the"Propeny."
<br /> BORROWER COVENANTS that Bonawer is lawfully seised of�he estate hereby convcyed and has thc right to grant and
<br /> convey the Praperty arxf that the Property is unencumbered. except for encumhrances of record. Borrower warrants and will
<br /> defend generally the title to the Property against all claims and demands, subject to any encumbrances of record.
<br /> THIS SECURI'PY INSTRUMENT combines uniform covenants for nationul use and non-miifomi covenants witii limited
<br /> variations by jurisdiction to constitute a uniform security instrumtnt covering real propzrty. ,
<br /> UNIFORM COVENANTS. Horrower and Lxnder covenant snd agrce as follows;
<br /> 1. Psiyment of Princip�l pnd Inleeest; Preppyment ond l.ate (:iutrges. Bcrrower shull promptly pay when duc tlie
<br /> principal of aiKi intcrest on the debt evidenc�xl by the Note a�xl any prepuyn�ent und late ct�urges due under thc Note.
<br /> 2, Funds for T�txe�wnd In.rurwnce. Subject to applicuble IaH�or to u written waivcr by Lender, Borrower siiull pay to
<br /> L.ender on tlk day monthly paymcnts arc due urxler the Note, until thc Note is paid in full,a sum("Funds")Cor:(a)ycarly taxes
<br /> ancl asus.snxnts which mey attain priori�y ovcr this Securi�y Ins�runxnt as a lien on the Property;(b)yeurly Ica.uhold pryments
<br /> or ground rents on thC Property. if any;(c)ya�rly huzard or property insurance premiums;(d) ye�rly flood insurance pre►niums.
<br /> if any;(e)yearly mortgage insurance prciniums, if any; and (fl any sums payable by Borrower tc� Lc�xier, in accordance witii
<br /> the provisions of paragruph 8, in licu of the paynxnt of nwrtgage insurance premiums.These items ure callad"Escrow Items."
<br /> L.endcr may, nt any time, collect and hold Fwids �n an amount not to exccecl tl�e maximuin amouN a lender for a f��iarally
<br /> relatal mortgage loan may require for Ibrrower's escrow account under the federal Real Estate Settlement Procedures Act of
<br /> 1974 as amended from timc to tinx, 12 U.S.C. Section 2601 et seq. ("RESPA"), unless anothcr law that applies to the Funds
<br /> sets a lesser umount. If so, I.ender r►wy, at any time, collect and hold Funcis in an amount not to exceed the tcsscr amount.
<br /> [.ender may eslimate the amount��f Fw�l�duz on the basis of current data and re.-+sonable estimates of expendiu►res of fuwre
<br /> Escrow Items or otherwise in acc�rdance with applicable law.
<br /> The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumcntaiity, or en►ity
<br /> (including i.erxler,if Lender is such an institution)or in any Federal Home L.oan Bank. Lctxier shall apply thc�unds to pay tht
<br /> F.scrow Items. Lender may not charge Borrower for holding and applying the Funds,annually ai�alyzing the escrow account,or
<br /> verifyir.g the Escrow Items.unless Lender pays Borrower interest on tlie Funds and applicable law permits Lerxier to make such
<br /> a charge. However. I.ender may require Borcower to pay a one-time charge for an inJependent real estate tax reporting service
<br /> used by Lender in connection witti this loan, unless applicable law provides otherwise. Unless an agreement is made or
<br /> applicabte law requires interest to be paid,Lerxler shall not be reyuireci to pay Borrawer any interest or wmings on the Funds,
<br /> Bonower and I.ender tn;►y agree in writing, however,tiiat intcrest shall be paid on the Funds. Lender shall give to Borrowe:,
<br /> without charge, an annual accounting of the Funds, showing credils and debits to the Funds aixi the purpose for which each
<br /> ' aeeit to ine Funds w:u uuNic.T ic:nrws:..��:we�:.s�.-�`�is'-^•"•�I crcuritp for all sunts Secured by Ehis Security Instrument.
<br /> If the Funds held by lPnder exceat the amounts permittai to be held by applicable law, Lender shall account to Borrower
<br /> for the excess Funds in accordance with the requi�en�ents of applicable law, lf the an�ount of!he E�unds held by l.ender at any
<br /> time is not sufficient to pay the Escrow[tems whcn due, Lender may so ratify Rorrower in writing,and,in such case 8orrower
<br /> - s1�a11 pay to Lender the arrwunt necessary to make up the deficiency. Borrow•er shall make up the deficiency in no more than
<br /> twelve monthly payments,at L.ender's sole discretion.
<br /> Upon paymenc in full of all sums secured by this Security Instrunx:nt. Lender shall promptly refund to Borrower any
<br /> Funds held by Lender.If,uncler paragraph 2!.Lender shall acquire or sell the Prnpeny, Lerxier,prior to the xquisition or sale
<br /> of the Property, shall apply any Funds held by Lc:nder at the time of acquisition or sale as a cttdit againu the sunu secured by
<br /> this Security Instrument.
<br /> 3. Application of I'Ayments.Unless applicabte law provides otherwise.all payn�ents received by Lendcr under paragraphs
<br /> 1 and 2 shall be applie�J: first, to any prepaynxnt charges due under the Note: second, to amounts payable under paragraph 2;
<br /> third,to interest due;fourth,to principal due;and last, to any late charges due under the Note.
<br /> 4. Chxrges; Lietu. Borrowcr shall pay all taxes. :usessments, charges, fines and impo�itions attributable to the Property
<br /> which may attain priority ovcr this Security Instrumcnt, and te�ehold payments or ground rents, if any. Borrower sh:ill pay
<br /> thes�obligations in the manner provided in paragraph 2,or if not paid in that manncr.Borrower shall pay tbem�n time direcNy
<br /> to the person owed payment. Borrower shall promptly fumish to Lender all notices of arnounts to be paid under this para�raph.
<br /> If Borrower m:ilces these payments directfy, Borrower shall promptly fumish ro Lender rc:ceipts e�•idencing the payments.
<br /> _ Borrower shall prompdy discharge any tien whi�h has priorit�•over this Security lnswment unless Borrower. (a)agrees in
<br /> writing to the payment of the obligation securai by the lien in a manner acceptabte to Lender;(b)�ontesls in g�faith the lien
<br /> - by, or defends against enforcement of the fien in, lega! prm:c�lings which in the Lender's o�inion operate to prevent the
<br /> enforcement of the lien:or(cf secuces from the holder of the lien an:13reeinent satisfactury to Lender subordinating the tie:►to
<br /> ths Security Lnstrument. If Lender determin�s that any part uf the Pra{xrty is subject to a lien which may attain priurity over
<br /> this Securiry Insvument. C.ender iu:ty givr Borrower a notice iJentifying the lien. Borro�•er shall satisfy the lien or take one or
<br /> — morc of the actions�et tbrth above wiihi�� lQ days of the oiving of notice.
<br /> Form 3028 9/90
<br /> — P��o:ae 6
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