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<br /> �.,. .: TOGE'fHER WITH all ttee improvements now or heteafter e�ected on the property.afxi aH easements.aPPurtenances.and `- }
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<br /> •-� � _ •`- fixtures now or 6ereafter a pa�t of the property. AU replacements and additions shall also be covered by this Security z ; �,
<br /> ` a:�"� � � Instmment All of the foregoiug is referred to in this Securiry Inst►ument as the"Property•" '>� '
<br /> '•� h,r�� °�. .. BORROWER COYENAl�i'IS that Borrower is lawfiilly seised af the estate hereby vonveyed and teas the right to graat and - x " :
<br /> ti `;_•r �- ,;`.� oonvey the Praperty and ihat the Property is uneawmbered.except for encumbrances of r�rd. Barrower warrants and will �� } �
<br /> ;<:. . d e f e n d g e n e s-a l l y the title to the Pro p z r t y a g a inst all claime and deu�ands,subiect ta any encumbr�nnces of iecord. ,` ` "•:
<br /> :ar..,..'- .. , ., '-� � .. �g SE��y��(��I'('combines imiform covenanu for aatioual use and non-uniform covenants with limi t e d "�`"p , '
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<br /> ,< ` � . �_��,�_;•;�. variaqons tsy jurisdiction to oonstitute a uniform secatity inctmment eavering ieai propercY• • _ _ •
<br /> `�`-- IJNIFORM COVENANTS.Horrower and Lender oovenant and ag�ee as follows: �
<br />—?±�-- .,A: ._ .�� ' �' l. Payment of Prindpal aud intecest: PrePa3'meat and Late Charges. Borrower shaii promptlY PaY when due the :.�(���_, •
<br /> F_� ��',: princtpa!of and intere.0 on the debt evidenced by the Note and any prepayment and tate charges due under the Note. 'z_ '
<br />�,r,;::, �- 2. Foads for Taxes and Iasv�nce.Subject to applicable law or to a written waiver by I.ender,Borrower shaU pay w �,•f.._.
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<br /> --;-. .,, _ Lender on the day monthly paymerrts aTe dnz wtder the Nnte.�atil Eke Note is paid in full.a sum("Ftmds")for.(a?Y�Y�� `- '��.``�--�:.-
<br />-�r�'�� aud asse�srnents whic6 may auain priority over this Sewriry Insuament as a lien on the Praperty:(b)Yea�'ly leasehoid paymeats `� -
<br /> aua' - •' -�<..�:,;•:
<br /> �t� ; F��"�'���'.' or gtound rents on the Prop�ty.if any;(c)Year1Y harard or property insurance premiums:(d)Yearly flood insurance pree�oms, • ',
<br /> -r.=-� -,_.-=`,='; if atry: te)Y�Y�artS�e inseirance prezniums. if any: aad!tl any sams paytible by 8orrower to Lender.in accordance with � � 4 ` ._
<br /> '� , = the provisions of paragraph 8,in lieu of the payment of mortgage insnrance premiams.'fhese items are called"Escrow Items:` � � '4 ,
<br /> ' _ L,ender may, at any time,coltect and hold Fm�ds in aa amount not to exceed the warcimum amaunt a tender for a federally 1 { �` ,
<br /> �s� - � ' retsted moTtgage loan may iequire for Borrower's escrow account under the fedetal Real.Fctate Setttement Procedums Act of � •: _`` �
<br /> � ` ` :.-- -
<br /> �,,:�f�.,i, . • ' 1974 as aznended from time to time, 12 U.S.C. Sectian 2601 et seq. ("RFSPA°),anless another Iaw that appsies to the F� Q �' � - :;
<br /> ��.�, sets a lesser amount.If so. Le�der may. at any time.coAect and hotd Fuads in an amount not w eace�d the tcsser amount. Q . Y% _`.
<br /> '_"� `�` ` "� ' � ` —
<br /> � • L,ender m a y estimate the amonnt of Funds due on the basis of current data and reasonable estimates of expeadiwres of futun M4� .' � .F .��
<br /> �j 5� , ` Fscrow Items or otherwise in accordance with applicable law. � �_
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<br /> �; � • ` -� The Funds shall be hetd in an institution whose deposits are insured hy a federal aSencY. instre�mentality. or eatity � << ": ..
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<br /> �,.;'. , .,- : '-: (iuctading Lender,if Lender is such aa institution)or in any Fedeml Home l.oan Hank.Lender sliall apply the Funds to pay the
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<br /> �•:� , : , � -: Esccow Items. Lender may not charge Harrower for holding mid applying the Funds.astnnally analyziag the escmw account.or . �'�.;r;;_-
<br /> ` �t veritying the Escrow Items.nntess Lender pays Borrower interest on ihe Funds and applicable law permits Lender to coake such r�
<br /> � �^�-� ` • " a charge.However. Lender may require Borcower w pay a one-ame charge for an independent real estate tax reporring,service '.;�;_
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<br /> '�:t ,. .' ..' ..� ;, .; used by Lender in connection with this loan. unless applicable law provides athera+ise. Utiless an agreement is made or . ;...�-=:
<br /> �"���"'� �• y Gcable iaw interest to be paid.Ixnder shall not be required to pay Borrower any interest or eamings on the Fands.
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<br /> ��;� . Boirower and Lender may agree ia writing.however,that interest shall be paid on the Fnnds. Ixnder shall give w Borrower. .� ,;a�.
<br /> ` '� � � without charge. an annual axount�g of the Funds. shawing crediis and debits to the Funds and the purpose for which each • , _
<br /> ' � r debit to the Funds was made.The Funds are pledged as addiaonal secarity for al!sums sewred by this Security Instrumeat. t :t:
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<br /> �' • ' •" .'# If the Funds held by Lender excecd the amounts permitted to he held by applicable law,L e n der s h a l l accnu m to Bo r r o w e r :..,: ' ,;r,i:
<br /> ` � � ' � forthe escess Funds in accardance with the requirements of applicable law.If the amount of the Funds held by Lender at any �•'�' �:��`i����_.
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<br /> - - -. • _ time is not sufficient to pay the Escrotiv Items when due. Lender may so notify Horrower in writing.and.in such case Horrower
<br />' { ��:' f�, shall pay to Lender the amaunt necessary to make up the deficiency. Borrower shall make ap the deficiency in ssa more than
<br /> ���� tweive monthly paymenu,at Lender's sote discretion. ' '
<br /> � � Upon payment in fuA of all sums secvred by this Security Insuument. Lender shali prompUy refund W Borrower any t ���':�• ,��� -
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<br /> ;..•.,�:•. • � •s Funds held by Ixnder.If,uader paragraph 21.I.ender shall acquire or se11 the Property.Lender,prior to the acquisition or sale � .
<br /> '��'� ' ' � - of the Property.shall apply any Funds held by l.eader at the time of acquisition or sale as a credit against the sums secured by ; �
<br /> �� this Securiry Instrument. � `d
<br /> � . 3.ApplIcatlon of Payments.Unless applicable taw provides otherwise,all yayments received by Lender uadet patagraphs , `
<br /> �.,_ • -- 1 and 2 sha13 be applied: G�st.ta any Prepayment chazSes dae under the Note:second,to amounu payabte under paragraPh 2: .° `. _,
<br /> �` third.to interest due:fourth,to princip a l due:a n d►ast,tv arty la te c harges d n e u n c t e r t h e N o t e. . - '••:•;� ::
<br /> :�":t�'; ' : � �b.Charges;l.le�.Borrower shall pay aU ta�ces.assessments. charges. fines and impositions attributable to the Prapexty - -.,� :
<br /> �`-'" • � � which may attain ptiority over this Security Instrume,�►s, and lea+ehold payments M gmund renu. if any. Boaower shal!pay _
<br /> :� � . . • :
<br /> �;,;' ..:' ., ., ' "
<br /> these obligations in the manncr provided in para�nph 2.or if not paid in that manner.Borrower shaU pay them on tume directly .:
<br /> .,_;,�r:• to�he person owed payment. Borrower shall promptly fumish[o Lender all notices of amounis to be paid under this paragraph. '; �_,. ._
<br /> �?'::� . ' '' If Borrower makes these paymetrts directiy.Borrower shall prompdy fumish eo Lender rereipts evidencing the payments. ,
<br /> ! ��: � �, Horrower shall Promptly discharge any lien which has preority over this Security Instrument unless Botrower:(a)agrees in
<br /> ', � . �. writing to the payment af the obligation secvred by the lien in a manner acceptable to Lender:{b)contests in go o d fai t h t he lien .. . , .
<br /> ;.;�.�;' . " . • by,or defends ags+inst enforcerrtent of the lien in, lesal praceedin�.s which in the Lender's opinion operate to prevent the ..
<br /> _ ' • - enforcement of the licn:or(cl secures from the holder of the lien an agreement satisfactory ta Lender subordinating the licn to �._
<br /> .:.�;•�. � this Security lnstrument. !f L.ender determines that any pan of the Pmperty is subject to a lien+vhich may attain prioriry over �. �''.
<br /> '�� � � ' this Securiry Insiniment,Lendcr may eive Borrotivcr a notice identifping the licn. Borrower shall satisfy the lien or take one or •. ..
<br /> �` ;;��,' � � . � , more of the actions set fiirth above tivithan 10 days of the giving of nutice. ,. . �
<br /> ���.`�.: -.. Form 3028 8/90 .
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