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<br /> -' TUUE7'NBR WITH ell the improvements now or henafter erxted an the property.and oll e�emrnts.Appurtcnances. °
<br /> ... _ ___ and fiawres nuw ur i�ereaftee a pari af thc propetty. Al!rrpinc�mr.nts and adrUtions ahoU also bo covered by thia Sccurlry
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<br /> -� ,- In�uumcnt. All of the forcgaing is mferted to in Ihix Securiry Inswment as 1he"PrW�eRY•° _
<br /> ��� BORROWBR COVENANTS thet Borrower ia lewfully seiced of the evwte hereby cc*nveyed and has the rlght to grant _
<br /> ,� } and convcy the Prope�ty and that the Proper►y is unencumHered.exeept for encumbrances of rerord. Borrower wurtantr and ---
<br /> --=�------�_� will defend generally the ti�le�o�he Property againsc all claims and demands,subject to any encumbrances of record. P
<br /> - —� THiS SECURITY INSTRUMENT combinea uniform covenanta for nationel use nnd non•unifam wvenenir wid�
<br /> _�� limited variationa by junsdicUon[o eonsiftute a uniform secu�lty instrumen�covering real propeny.
<br /> UNIFORM COVEIVANTS. Borrower and Lender covenant und agree as fdlows: � p y p
<br /> �==�� 1. 1'ayment ot P�incipal aad Interest;Prepayment and Ls�te Cbargea Horrower shall m tl ay when due�ho
<br /> ��;;� principal of and interest on the de6t evidenced by tha Note and eny prepayment and late cherges due under the Note.
<br /> _ _ __T_�;;{� 2. �nds tor'lhzes and insurance. Su b ject to app l ica b le law o r t o n w r i l t e n w a i v e r b y L e n d c r.B o r ro w c r s h a l l p s�y to �
<br /> --'-��??± Lende�on the day monihiy payments arc due under 1he Notc,unlil the Notc is puid in full.a sum("Funds")for.(a)yearly �_
<br /> _ �__ _ �. . ..-__- � taxea and aR4essmenta which may attain priority ovcr thia Securiry Instrument as a lien on the PropeRy;(b)yearly leasehold
<br /> �`j;� paymenta or ground rents on the Propeny, if any; (c) ycerly hazard or prc�pe�ty inaurance prcmiuma: (d} yeerly flood _.
<br /> -"Y;` insurance premiums, if any; (e) yearly mortgage inaurance premiums, if any; and (� eny sums payable by Borrower to
<br /> -- .�:x Lender.in accordance with the provisions of paragraph 8,in lieu of�he payment of mortgage insurance premiums. These _
<br /> �� � items are called"Escrow Items.' Lender may,at any tima,collect and hold FundR in an amount not ta exceed the maximum �
<br /> ,,,..,���_?`�" amouat a lender for a federally related mortgage loan may require for Borrower�s escrow account uncler the federal Real
<br /> `' `'� Estare SetUement Prcicedures Act of 1914 as amended from time to time. 12 U.S.C.�2601 et seq.("RESPA"),unlegs another �
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<br /> -.��•-- ^ law that appiieg ro the Funda sets a leaser amount. [f so.Lender muy.at any time,collect and hold Funda in an emount not to �,;,..
<br /> �'�����'�'� '� eaceed �ha lesRCr amount. L.cnder rnay estimate the umount of Funds due on thc baRia of current data and reasonable -�_
<br /> ;:;,;�,��'�,,,._ ' estimetes af expenditures of future Escrow Items or otherwise in accordance with applicable law.
<br /> ;;��r,:, , ' ', Tha FLnds shall bc held in an institution whose deposits are insured by a Federal Agency,instn�mentaliry, or entity
<br /> a�•?`=��`.��. (Including Lender,if Lender is such an instiwtion)or in any Federal Home Loan Bank. Lender shall apply the Funds to pay _
<br /> �, .,.� . the Escrow Items. Lender may not charge Borrower for holding and applying the Ftmds,annually analyzing the escrow -
<br /> � account, or vedfying the Pscrow Iteme, unleas Lender pays Borrower interest on the Fundx and applicable Inw permits
<br /> =� ^-_.�_i� Lender to make such a charge. Nowever.Lender may require Borrower to pay n one-time charge for an independent real ___
<br /> -��?�,4; ,-'"-�. • estate tax reporting service used by l.ender in connecdon with this loan,unkss applicnble law provides otherwise. Unless an
<br /> ;��:?�;�� agreement ia mnde or applicable law requirea interest to be paid,Lender rhnll not be required io pay Borrower any interest or �:--
<br /> �� ,;�:• earnings on the Funds. Borrower end I.ender muy agree in writing.however,that interest shall 6e paid on the Funds. Lender
<br /> �r:��� � shall give to Borrower,without charge,un annual accounting of�he Fundx,showing credits and debits to the Funds and the �.
<br /> - _° - �:�_.,a==> pur�se t'ar which each debit to!he Fl�nds was made. 7'he FLnds are pledRed as additional secu�ity for all sums secured by �.
<br /> �'^��'���:;�-,r.: , this Seeuriry instrument. —
<br /> - ���l�. if the Funds held by Lender exceed the amaunts permined to be held by applicable luw, Lender shall account to
<br /> �"•. ..�•t' gorrower for the ezcess Funda in accadance with the requirements of npplicable law. If tho amount uf the Fui�ds held by —
<br /> - _ �'�'r- ��'�� ' Lender at any time is not sufflcient to pay the Esc:row Items when duc,l.ender muy so notify Borrower in writing,und,in
<br /> �"�'`���:-� l such case Borrower shall pay to Lender the amount necessury to mnke up �he deficiency. Borrower shall muke up�he _
<br /> =i:,,�'�_� :�:;: ., .� deticiency in no mor+e than twelve monthly puyments,ut I.ender's soie discretian.
<br /> -�� �� ,� �'• Upon payment in fuli of ull.r•ums sewred by this Security Instrument. Lender shull pmmptly rciund to Borrower any _
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<br /> r�i�v,�:•:�_.. Funds hcld by l.ender. If.under paragrnph 21.Lendcr shall uryuire or ticll thc Pmpe�y.Lcndcr,priur lo thc acyuiwilfan or
<br />-;:L.'�•� ''`"''` ° xale oP the Property, shull opply uny Pondw held by Lender ut �hc timc ot ucyuixition ur rulc u�u crcJit uQainst thc xuma �-
<br />:�;;;,Y '`'�.,- °"��.�'� �• secured by this 5ecurity In�:trumem. .�
<br />•�;ti�•�. .. � 3. A p p l k a N o n o f Po y m e n f v. U n t e s,� u p p l i r u b l e l uw provideti rnhenvisc, ull pa yments rcceived by l.cnder under �;°
<br />._'•�,��.� ' puragrs►phx 1 and 2 shnll bc upplicd: fint, ta uny prcpuyment chargc�Juc undcr thc Nu�c:ucund,to umoums puyublc w u lcr
<br /> - "' ' pnragruph 2;third,to interext due;Pounh,to priix:ipnl duc;und I�.�t,tu uny lute chargen duc undcr�he Note.
<br /> �. 4. ChArges; Ltens. Horrower�hull pay uli wxcs, utiticzxmemti,churges,tincy und impnsitions nit�fbutablc to ihe
<br /> � • '�r' • P:operty which muy uuain priorit;�over this S��curity Inxtrument,und Ieusehuld payment�ur ground ren�s,if nny. Borcower
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<br /> , � � shall pay these obligutions in�hc munncr provided in parogruph 2,or if not pufd in thut mAnner. Borrower xhull pay them on _
<br />,�r /,S ��*�� �'"` time direcdy ro the person owed puymcnt. Borrawerxhull promptly fumitih to Len�k:r ull noticcti of umounts to be paid under
<br />.- -� �• `"- ••� this paragraph. If Bomower mukes thexe payments directly,Borrower shall promptly fumish to l.ender reccipts evidencing `_ _
<br />- • .�.���'` ' the payments.
<br /> ' , , Borrower shall promptly dischargc any lien which hus priority over this Securiry In4trument unless Borrower.(a)ugrces �
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<br /> � ��-:°�d•' • . in writing to the puyment of�he obliga�ion secured by the lien in a munner ucceptable to Lender: (b)c�Mtests in good faith the
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<br /> • - -++, I :�.�': lien by,or defends against enforcement of the lien in,legal praceedings which in the Lendcry opinion operate to prevent Ihe _
<br /> enforcement of the lien:or(c)secures from the holder of the lien an ugreement sutisfactory to Lender subordinating the lien
<br /> �'" """ ' to this Security Instrument. If Lenderdetertnines thnt uny pun of the Property is subject to u lien which may utmin priority ___
<br /> �� � over this Security Instrument,Lender may give Bortower a notice identifying the lien. Borrower shull satisfy the lien or�alce _.
<br /> 'a•�''F"''� one or more of the nctions set fotlh ubove within 10 duys of the giviog of notice.
<br /> • - ' • S. Hazard or Propeny Insuronce. Borrower shall kcep thc improvcmenn now cxis�ing on c�reufler crected on the
<br /> „ Property insured ugainst loss by fire.hexurds included wilhin the tcrtn"extended coveru@e"and uny other hazurJs, including =_
<br /> � � , floads or floading, for which Lender requirea insurunce. Thiti insurance shall be muintuined in the amounts und for the __
<br /> , • Form 3028 9/90 1/wXr 2 nf 6 pagesl �
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