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<br /> 1'OGETHER�VfTEi al( Q�e improvements now or hereafter erected on the property,aad all easen�en��, appune�tilnces, and
<br /> I fixtures now or 6ereafter a part c` the property. Ail replacement� and additian� shall also be covered by this Security
<br />� InswiTSent. Ali of the fnregoir,e is referred ro in this Securiry In.ctrutir3ent as ehe "PropPrty."
<br />'i BORROWER COVENANTS chat Borrower is lawfully seited of the estate hereby conveyed and t,ds the right to grant and
<br /> cc�nvey d�e Properry and that d�e Pmpeny Es unencumbered; except for encumbrances of record. Borrower warrancs and will
<br /> def nd generally the tit!e to die Property against all claims and demands, sub�ect to any encumbrances of record. �
<br /> THIS SECUR[TY IP.iSTR(JMENT combines aniform covenants for nationat use and non-uniform covenau�t widi linuted
<br /> variatiat�by jvrisdiceion to consutut�°a unifor►n security instnm�nt covering real pcoperty.
<br /> UNIFORM CO"ENANTS. Barrower and L,ender cavenant anc�agree as follows:
<br /> fl. Payment ot' Principaf and Interest; Pre�ayme�t and Y,ate Charges. Borrower �liali prpfipdy pay wher� due the
<br /> principad of and interest on the debt evi�eaced by the:�3ore and any prepayment and late charges due under the�Iote.
<br /> 2. Fun�.e Fo:� Ta��r� and Insurance. Subject to appiicabte law or to a wr.tten waiver by l.endee, Bor;ower shall pay te
<br /> L:r4er va die day r.��or,;;ii;}:aymenu are due�_�er th;.•`IO:e. incil tl�e t�ore i::pai�in fi:ll,a surn("Funds") for:(a)yea:l�taxrt
<br /> a•,�,-��:�_:�r:;, s�vhs�h T,.::�,,tain prioriry over this Se�urity In,c,t�n,er,;�.s a li-n^n cFie Yrop�rtv; �b) yeariy leasetiotd payments
<br /> �?r ground'ren�e on d:�?ri,Fc;�ty, if any; (c)yearly hazard or propeny irLeurance p�mimnr (d` yearly �c�od imurance premiums,
<br /> if any; (e) yearly martgage ii�,surance pce�ui�ros, if any; and (� any sume payable hy Iiorrower co :.end��, ir� ac�ordxrx:e with
<br /> the provisions of paraeraph 8, in lieu of d�e payment of moneage iitsu*ance p��emiums. These items are called "Escm++� ��flriC."
<br /> Lender a�a}•, at any time, coltect and held Funds in an amo�nt not to exceed the maxi►nwn amcmu a Iroider for r tederally
<br /> related mor[gage loan may r°qiiire for Borrower's escrow account uncler the federal Rea! Estace S�ttlement Procedurrs Act of'
<br /> 1974 ss arnerided from time to time, 12 U.S.C. Section 2601 et seq. ("RESPA"), unlect another law d�at applies ta die Fui�ds
<br /> sets a lesser amount. If so, Lender n�ay, at any ti2»e, collece a�x] hold Fund� in an anu�unt trot to cxcerd tt�e lesser ai�ioui:t.
<br /> �ender ��ay estin�te tiie an�ouizt of Fii�xls due os� d�e basis of currrnt data a»d reasoi�able estinutes r,i expendic�.2s of futwe
<br /> E.ecrow Items or otl�rnvise in accorda�xe witl�a�plicablc law.
<br /> The Funds shall bc lield in an iu�titutiqn wl�ose deposits are insured by a tederal age�n:y, iustru�uentaliry, or entity
<br /> (including Lende�, if L,ender is sucli an insuwtion)or in any Federal Honr� Loan 8�nk, ixt�der shall apply die Funds to pay tlie
<br /> Escrow Items. I.ender ma.,y �►ot charge Borrower for I�olding and applying the Fu�ids, annually ai�alyziug d�e eurow account, or
<br /> verifyin�dze Escrow 1te�iLS, unlecs ixnder pays Borcower ir.terest on t�ie Fmids aixi ap�,licable law permits Ixndrr to makr such
<br /> a charge. Ho+�•ever, Leixler may requir� Borrower to pay a one-time charge for an ii�dependent rcal estate !ax reporting service
<br /> used by !xader in co�u�ct,tion with diis loan, wilrce applicable law provides c�dienvise. Unlrss an agrcen�ent is nwde ��r
<br /> applicable law requires interest to be paid, ixnder sha11 not be requircd to oay tic�rrower any intercst or earnings on die Fmids.
<br /> Eorrower and L.ender n�av agrc�e in wricing, however, that intercst shall be paid on tl�r Funds. Lr�xler shall give ro Borrower,
<br /> wid�out charge, an annual accounting of the Funds, showing credits aixi debits to the Funds arui the purpose for which each
<br /> debit to the Funds was made. The Funds are pledged a.e additional securiry far all sums secured by dtis Security I�tetrument.
<br /> If the Funds held by Lxnder exceed d�e amounts pe:mitced to be helci by applicable law, Lender shall account to Borrower
<br /> for d�e excess Funds in accr�rdance with the requiremen�s oF applicable law. If the amaunt of die Fur.ds held by Leatier at any
<br /> time is not sufficient to pay tl�e EscroN� Item,i when due, Leuder n�ay so notify Borrow•er in writing, and, in such ca.�e &�rrower
<br /> shall �ay ro Lender dae amount netessary to make up the de icienry. Borrower shall a�ake up the deficiency in no more d�an
<br /> t���elve monthly paymenLS,at [.end�:r's sole discretion.
<br /> Upon payment in full of alf sunu secured by thic Security Inetrumeat, Ixnder shall prompeiy refund to Borrower aity
<br /> Fm�ds held by L.ender. If, under paragraph 21, Lxnder shali 2cquire or sel( the Propercy, Ixnder, prior to die acquisition or cale
<br /> of die Propirty, shall apply any Fu:�ds held by L.ender at �he time of acquisition or sale as a credit against the suuu secured by
<br /> d�is Secarity I�Lewmen[.
<br /> 3. �#pplication of Pas�ments. Utiless applicable law provides od�erwice,a{I payments receivrd by Ixnder uuder paragraph.r .
<br /> 1 aud 2 sliall be applied: frst, to any prepay►nent charges duc under the I�ote; sei;ond, to anrounts payabie und�r paragraph 2; `
<br /> third, to interesz due; foutth, ta principal due;aiid last, to any late charges due under the Note.
<br /> 4. Ch�rges; Liens. Borrower shall pay ali tazes, as.sessn�ents, charges, fines and impositions attributable to the Property
<br /> which n�ay attain priority over d�is Security Irstrun�ent, and lea,sehald payn�ents or gmund r�nts, if a��y. l3orrower shail pay
<br /> . diese obligatio�u in die n�nner provided in paragraph 2,or if not paid in d�at n�an►ier, liorrowrr shall pay thrut on time dirrcUy
<br /> to die person owed payment. Borrowtr shall promptly funusL to Lxnder all notices of amounGe to be paid urxler this paragraP�i•
<br /> {f Borrower makes diese payroen��directly, Borrower shall promptly funush to Lender receipts evide��cing die pay►nentti.
<br /> Borrower shall �ron�ptly discliarge any lien�vhich l�as priariry over this Security Irtetnm�ent unlecs Borrower: (a)agrees in
<br /> writing to che payment of fl�e obiigatioe secured by the lien in a manner acceptable to L.ender; (b)coutests in good faid�die lien
<br /> b}�, or defends against e�iforcen�ent of the lien in, legai proceeditfgs wi��ch in die Leoider's opinion operate to prevent die
<br /> enforcement of d;e lien; or(c) secures from the holder of the lien an agreement satisfactory to [xnder subordi��ating the lien to
<br /> cl�is Securiry I�utrument. Zf L,ender deternrin�s that any part of d�e Property is subject to a lien wliich may attain priority over
<br /> diis Securiry Itt�trament, 1.ender may give Bonower a r,�tice identifying �he lien. Borrower shail saasfy the lien or take one or
<br /> more of d�e actioi�.e set fordi above�vithin 10 d��ys of the giving of notice.
<br /> �m GR�hEI ie�ti:i oz Form 3U28 9/90
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