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, 06/21/99 MON 13:22 FA% 704 679 450� EQUIFIRST C�0�3
<br /> 99 106486
<br /> TOGETHER W!'�H all che improvements nc�w or hercafter erccted on the property, $nd all easements,appurtenances,
<br /> �tnd fixtures nqw or h�reafter s psrt of thc: property. Ali repl�cements :�nd additiony sh�ll also be eovered by this Security
<br /> Ins;crument.Alt of Che foregoing is r�fcrred to in lhiti Sc�urily lnslrument as thc"l�ra}�rcy."
<br /> BORROWER COVENANTS thut l3nrrow�r is luwCully tiei,�ed of lhe est�tc hereby conveyed�nd hus the ri}�ht to grant
<br /> and convey thc Propeay and that �he Propc:,ty is unc:ncumbered,except for encurnbrances of rccord.Borrower wasants and
<br /> will defend gonerally the title to che Property against al]claimK and demands,subject to any cncumbrances of r�eord,
<br /> THIS SECURIT'Y iNSTRTJMENT combines uniform covanants For nauonal use and non-unif�rni covenants with
<br /> limited vari:uions by juritidiction to�onsliCute a uniform secutiry InsCrument eoverin;re�l prc�perty.
<br /> LJNiFORM CpVENANTS.13orrower�nd Lencier cnvenant�nd abree�s follows:
<br /> ).• Payment of Pri��cipal and Interest;Frep•ryment and Late Chargcs. Borrower sha.11 prampdy pay when due thc
<br /> principal of and inlcrest on the debt evidenced by the N'olc�nd any prepaymcnt and late eharges due under the Nate.
<br /> Z. Funds for Taxes and Tn�urance. SubJect to upplicabIc law or�o a writt�n waiver by Lender,Borrower shxll�ay
<br /> to Lender on t[�e day monthly Paycneni, are dt�e under t1i�Note,unGl the Note is�aid in full,A sum("Funds")for: (a)yearly
<br /> ta�ces and as�cessm�nta which may atk�in priority ovc.r�his Securicy Instrument �.s a licn on the Properry; (b) yearly leatiehold
<br /> paymcnts or grnund ?�nt� oo the Property, if any; (c) ycarly h�card or praperry insurance premiums; (d) ycarly flood
<br /> intiuranee premlum�, if any; (c) yeatly mortgage in:>urance prcmiums, if �ny; and (� any sum4 payablc by Borrowcr to
<br /> I.cndcr, in accordance with the provisions of pxrdfiraph $, in lfeu of the payment of mortgagc insurance premlurns. These
<br /> items are call�cl"Escrow ILcmS,"1.,endcr may, �t any tllt]z, collect and hold Funds in an acnount not to eacceed the maximum
<br /> amount u lcnder for � Feder111y rclated morcgage loan may l,equirc: fo►• Borrower's eserow account under the federai Re:il
<br /> Estata 5ettlement Procedurer Act of 1974 as funended from time to dme, 12 L7.S.C. �2601 �t seq. {"RESpA"),unless nnother
<br /> law rl�utt applleti to the Funds sets a les,,er amount.�f so,Lender inay,st any tin7e,coliect and hold Funds in an amount not to
<br /> cxceed the lesser arnounG L,ender may estimate the amnunc of runcly due on the basis of eurrent data ead reASOnable esHmates
<br /> of racpcnditures of future Eticrow Items or otherwise ii�aceurd�nce wili�,aPplicabla law,
<br /> The Fund� shall be held in �n insti�ution WhOtiC (lCpO.r'Ifs urc intiurcd by a federul u�ency, inrtruinentality, or entity
<br /> (includin�Lender, if Lendcr is�uch an inxtitucioi�)ur in uny Hcdc��l Hfl,nc Lr,un Bank_ [.e�ider shull upply the Funds to puy
<br /> tht Escrow ltems. Lender m�y nnt chargn lion-ower for holding �nd upplying the Funds, xnnually xnxlyzing [he escrow
<br /> account, or verifying che Escrow Items,unl❑ss Lender pay�Barrower interest on cho Pueds and appiicable 1aw permits L,ender
<br /> to tnakc such t�char;e. However, l.ander mny r�quire Borrnwcr to psy a one-time charge for an independcnt real astate tax
<br /> repo�tin�service uc�d by Lendar in connee[ion with thiw loun,wtless ap�,licablc law��rovides otherwitie.Unless an agneemenc
<br /> is made ur applicabla law r�quires ii����tit to be p.ud,Lender shall not bc r�quireti to pay Borrower any interest or vanungs on
<br /> the l;und�.Borrower and Lender m1y;�greo in writino,liowever,that incerest sh�ll be paid on thc Funds. Lc:nder shall give to
<br /> l�oaower, withouc cltarg�, �n annu�l accounting of the Funds, showing credits and debits to the Funds and the purpose for
<br /> which eaeh dobit to thc Funds wxti made.The Funds 3re pledged:i,��ddi[ion�l cocurity for all sums tiecared by thi5 Security
<br /> instrument,
<br /> if thn Funds held by Lendcr exceeci the amounu; peemicted to be held by applicnble law, Lender shall account ta
<br /> Barrower fpr Ch� excess Fundti in accordance with the t�quircmenl'.5 of�pplicable law. If the amount of thc Funds hcid by
<br /> Lencler ac any time is not xufficient�o pay the Escrow lccn,� when due,T.,encicr may so notify $orrower in wridng, and, in
<br /> such casa Bo�rower �hwl� pay to t.end�r the amoun� necess�ry to mcllce up tha deliciency, 13orrower shsill malce up the
<br /> deFic:iency 1�1 no mare than ewelve monthly paymentti,at C.ender;s sol�cii5cretion.
<br /> Upon payment in full of sll tiums secured by thix Security [n�hvment, l.ender sh�lt promptly refund to eorrower:iny
<br /> Fu�1ds held by Lcnder. If, under paragr;�ph 21, Lendee Shall acquirc:or kell ilte Propelty, T.ender,prior to the acquisition or
<br /> srile of thc Property, �hall Apply any Fund4 held by Lender at �he time of;�cquisIuon or sale as a credit against the sumK
<br /> secured by t}us SESCUritylnxtrument.
<br /> 3, Applicithan of Fayment;;, C7nlz3s applicablc law pruvideS otherwitie, �11 paymcnts reeeived by Lendor under
<br /> par�s�raphs 1 and 2 shall he applied;fiist, to dny pn:p�y��ent charges due under the Nuie;second,co amounts payable undcr
<br /> pa�'agraph Z;third,to intarc.wt due;founh,to princ;pal due;and last,to any late eharges due unde�d�e Note.
<br /> 4. Charges; �,pens. Barrower shall pay �11 laxes, as�esyn�ents, ch�rges, fine� and impoyitions attributable to the
<br /> Property whlch may attain priority over this 3ccuriry T,nstrument, and ]e�tiehold payments or grqund rent3, if any, Borrower
<br /> shall pay th�s�ohligations in thc m;�nner providad in par�eraph 2,or if not paid in that mnnner,�orrower shall pay them on
<br /> time directly to thc person owed paymenc,Barrower shalt pramptly fumish to L,endcr�11 notiee�of amount� to be p�id under
<br /> this p�rta�r�ph, If Qarrower muketi lhene pvymencs dircctly,Borrowcr tihall�romptly furnitih ta Lendcr r�ceipt:,cvidencin�the
<br /> payment�. �
<br /> (Pugr 2 uf 8 pu��.�g
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