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<br /> . TOtiE7'HER Wl'fl�1 a11 the impmvetnents aow or hereafter erected on�he prop�rry,and all easements,appurtenaaces,and
<br /> � �� fixtutes not� or heneafter a part of the proDerty. All replacementa and addiaons shall also be covered by this Security
<br /> • � � ' � instrument.Ap of the foregoing is mferred to in chis Securiry lnstcument as th�'Propercy•"
<br /> � I B�RIdOVlIER CO�NANTS that Hornower is lawfully s�:sed of the estate h.reby conveye�and has the rigbt to grant and
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<br /> convey the Praperty and t�t the ProIsertY is unentu��s�r e d. excep t fo r e n c u m b r a n ce s o f re c o r d.�o r r o�ver�varranu and v�i11
<br /> � ` � defend geaera113r the atle to ttae PrapertY aga�ns��11�laims and demands,subject co any encumbrances of recard. `
<br /> � . �, 1 THI5 SECU�fTY INSTRUMENT combiaes unifo:m oovenants for natianal u�e and non-uniform coeen�t�aith limited
<br /> . ` ? variations by jwrisdiction to constitute a uniform security instrument covering ieal pso�xrty. .
<br /> , -- : , l3tdTFORt�+f COVEN�+NTS.Bo�wer and Lender covenaat aad agree as fallows: 3 when due ths
<br /> - ` � t. PaYr,a,�t o�pri�ripal aia� Hnteresl; FPePa3+ment ua�I.ate Ct�ar�s� aormw�r sha�l gmmF�Y D Y ���
<br /> . "_ . � a ent and late charges duQ under the Note.
<br /> . .�-:= � .� p�acipal of aud interest on the debt evadeaced by ehe Note aad anY P�Ym �.. �
<br /> � � . -' • .� 2.Funds for'�axes and Insutance- Subject to applica�le lav�or to a written waiver by Leader, Sorrower shall pay tu
<br /> lender on the day mnnthly paYments are dus aader the Note.until the Note is p�id in full.a sum('Fuads')for:(a)Ye�IY� �,`::•.:
<br /> : �. and ass�aents whi�ch may attain prioriry over this S�curiry InsautnEnt as a lien on the PmpPrty:(b)Yearly lea��hold paym�ts
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<br /> � . ' ar grovad reats on t�e Property.if any:(c)Yeu1Y bazard or propeiry insuran�e premiums:Id)Yearly flaod insurauce premiva►s. --
<br /> • : . � if any;(e)YeaT1Y�ortg�e wsuranve premmms, if any;and(fl�Y�Payable by Bonower to I�ender.in axordante with __
<br /> ,� ttie provisions of paza�aph 8,in lieu of the payment of mort�sge insurance premiums.These items are callod "F.scmtiv Items.' __
<br /> --- t mder may, at any time. oollect and hald Fuads ia an a�unt nai w eze�eci the ma�cimum amount a lentler for a festerally
<br /> � ' � relaied m�on�ge loan may reciuire for Borrower's escrow ascmmt uu��the f�,:,aI P.�:1�•�?�cPnt�nent Prosedures A�s of _
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<br /> • "� 1974 as amgn3Hd from rime to time, 12 G.S.C. Seaion 26U1 et seq.("RFSPA'),unless another k►w that apPlies to tha Fw�ds Y
<br /> sets a lesser amount. If so.Leader m�Y, at any time. collect and hold l�nn�s in an amflunt aut to exceEd the lesser amount_
<br /> l, � Ieader may estimate the amount of Fuads due on the basis of au�ent data and rr:�nable estimates of expeadiuu�es of fuwre ,.
<br /> Fscrow Items or aYherwise in acoordancs with aPplisabte law.
<br /> ' . >; �. Ttce Funds shall be held in an it�tirution whose deposi[s aa:insarerl by a federal agenry, iasmuaentality, or euriry
<br /> " �• (iacluding L��er.if Lensler is such a�inEalmtion)or in aay Federni ffome l.roan Bank.Lender�nll apply the Funds to pay the
<br /> • � ��-- Escrow Items. Len�r m�y noi charge Borrower for holding and appiying the Fands,annually analyr3ng the esecow account.os
<br /> . t erifying the�.uro�v U�ss,unlecs Lender pays Homoivar interest on the Fuasl��asi sgplicable laa permits txn3er�mak�c�h
<br /> a charge.However.i,ea3�r maY ce9uire B°nower to p�y a ont-tims char�e frn an in�endent ma!estat���P $
<br /> . • �.�.
<br /> used by LeIIder ia cana�ion with thif toan. unless applicablu I�w ;�mvides athelwise. Ltnlefs an agte�eat �s mLde or
<br /> :- • '�:; ;;:� applicab2e law requins ip►t�nest to be p�,Lender shall cot be requirssi co gay Bt�aower any inr�e.st or eamings on ttte Fcw�.
<br /> •f� " Borrower aad l.ender m3y agree in wrinng.however.that interes�shall be paid on the Fua�. Lender shall give to Bot�m�rer.
<br /> arithout d�argra,aa ana�ai•ac�unting of ths Funds, showing credits aad debiis fn ehe FuBds aad the purpose for which each
<br /> � debit w the Funds was ru.J3e.'Ihe Fuads are ptedged as additional securiry for aFl:ut�s secured by tlus Secutiry Insnument.
<br /> • If the F�nds held by Len.det eacerd the amounts permiued to be held by a�iiable laa,a.ender sha11 account to Bar�u+er
<br /> ce°d
<br /> � for the excts:�Funds in accordance with thE requirentents of applissble law. If the amount af�t��unds held tsy Ixa�er:,��y
<br /> . . �` time is uot sufftcient to pay che Fscrow Ite w�maebe uueth�fici�ry H r ufr er J�:�1 malce cp�,fie defici'ency in no mc�.-�than
<br /> ' r•.nall pay to I.ender the as�unt nece.ssarY p
<br /> ' tevel�e monthly paymentE,�t�.eader's sole discretion.
<br /> • Upun payment in fuSl a:all sums secured by this Securit3+ lnstrument. Lr:u�er shall promptly refvnd u} Liorro.�er aay
<br /> ... � Funds held by Lender.If.under paragrz�h 21.I.ender shall acquire or sell ths Pncperry.I.end�a.Priar to the acquisitiort ar sale
<br /> ' ' og�he propeny,sha11 apply any Fuasis Ur�by Lender at the time of acquisitio�cr sale as a ca��t against the sums secu�e3 bY
<br /> ' . . , IhLS SeCtlilty InSli11m2Il1.
<br /> ' 3.ApplleatIon of��eute.Unless applicabt�f.�w p�vides othenvisc.a:l ray�nts ceceived hy I�endea imder garagrapl'Ls
<br /> --,.:�.�.,,:.�-.;;, 1 �d 2 shall be applied• firs�.w anY PrePayment chazg�due uader the Note;second,to am��nts payable under paragraPb 2:
<br /> '--'•� ��; : y third,to enterest due:foutth.to principal due:and last,ta any late charges due uader the Nnte..
<br /> �,fi'}".�:'�': - I 0.�har8es,Lieas. Borrower shall pay all taxes.assQSSmeatS,c�ar8es,fines and impos�fons attn'butable to the�m�nersy
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<br /> - . � which cnay attain priority over this Security lnstn�mEnt,aad 1�s�1d payments or gmund nnu, if any.Borrower r�Y
<br /> �-:' �� ' thae obligations in the manner provided in paraSra�h Z,cr ff uot�zid in tS�xt m�ner,Botrower shall pay tbcan cn time directly
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<br /> _ co the person owed payment.Borcower shall promptly inraish t��.:nder aU notices of amounts to be paid un'dC.r c�.:..w'�S�Fb•
<br /> •�•:�� ° If Borrower makes thes�paYments directly.Borrower shall gzam�tl.v fumish to Lender reoei�s evidencing e::s�'ymt�'ss-
<br /> -.° ..�V � Borrower shaU promptly discharge any lien which has priaat��over this Security Insuuu�►t unl�s B�nower.(a)a;�}.�xs in
<br /> �°-'`'�-'��`� writing to the payfbenc�vf the obligation secured by the lien in a manaer accePiable to Leader;(b?�nt���g�faith the lien
<br /> ��•,c�„,w �` whic� in the Lender°s o inion a rate to nwent the
<br /> 'fr�•-r � •• b oz defends a a�nst asfoac,�ment of the lien in, ir,�a1 procs�edin&S p F� p
<br /> ,�:i:•,,�_, Y. � �
<br /> ---'w"�4 enforcement of the lien:ar(c)secure.s from che hol�Pr of thti lie�i an agrezment satisfactary c�Leader subIIr�inating the lien w
<br /> ' � ':..`�,:r���:y• shis gec�uity Insaument. if Lender dct��mines that any part of tue Property is subject to a]��t which may attain prlority�over -
<br /> � ., ,`�i;'���;; thjS$eqliiCjr IILSLiU1IICIIt,Leader may give Borrower a notice ide�titying the lien.Borrowe:ahai!satisfy the lten or take acs or
<br /> � more of tL•e actioas set fanh above within 10 days of the giving of norice. �
<br /> ' Farm 3028 9l90
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