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<br /> - ' 4 1'OC)BTH�3R WITH all tl�c improvement�rtaw or heis.after erected on the property.nnd all casements,uppuRenances, -
<br /> nnd�xturea naw or homufter o psut of the pmperty. Atl repiucernents and addldons shall also be covered by thla Secudty
<br /> InRuumertt. AI!of tho foregaing Ia refeaed ta In this Securlty insaument o�the"Property."
<br /> '� �" � 80RROW�R COVENANTS thut Barrower Ix luwfully selscd of tho estatc hemby conveyed and has the right to grant
<br /> ��,�,,�� and�omey tlw Property und thnt the Property is unencumbered,cxcept for encumbrances of e�card. �orrower waaants artd
<br /> = w�;,:;��_' ., ° ' witi defend generatly tlte Utle to the Prapetty agc�inst aii cluima nnd demunds.subject to tu�y Kucuu�S�f�u�tces�f e.�;ard. � - �--
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<br /> � `'��w' '�``' ' THIS S�CURITY INSTRUMBNT combines uniform covenants for nutianul �se c►nd non-uniform covenants with r - '
<br />_ ' .•...,.�._,;r;,��., limited vuriadonA by judsdlrtion to rnnsUtute a unifons�sccudcy inauument covering real propecty.
<br /> . �� UNI�ORM COV�NANTS. Bomuwer ond Lertder covenont and agree os followa: __
<br /> . . � � '��. 1. Pwyment ot Principal wnd Intet�cst;Pr�payment nnd L.ate Charges. Borcowcr ahnli promptly pey when due tha '_'=
<br /> - � prinetpul af und interest on the debt evidenced by the Note und any prepuyment and lato chargea due under the Note. -�--
<br /> :. .. " .� 2. F�nd$far 7�tes and Insutaace. Subject to upplicuble Inw or ro c►written weiver by Lender.Borrower shall pay to __�__
<br /> �� �� � � Lendar on the day monthly payment�arc due undcr thc Note.until the Nate is pnid In fuU.n aum("Fund4")for.(a)yeatly
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<br /> taaes and ussessments which mny unain priori ovcr this Sccuriry lnstrument us a lien on the Property:(b)yeazly leasehold ��� �__ _
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<br /> � s: � • pAymenta or ground mn4v an the Property, i uny; (c) yearly howrd or propeRy insurartce prem3ums; (d) yearly flood ��,i�=��_
<br /> '� � insuranco prcmiums. if uny; (c) yenrly mortgagc insurance premiums.if nny; and(�uny suma puynbtc by Bonower to - _ __
<br /> �i � � l.ender,In accordunce with the pmvistons of pnrngmph 8.In lieu of thepuyment of mortgase insurAnce premiums. These �="'`_=- —_
<br /> items arc called"Escrow Item�' Lender may,at any time.coltect and hold Funds tn an amount not to exceed the maximum
<br /> ;' � amoant a lender for a federally related mongAge laon may require for Borrowers ascrow accaunt under the federat Reul ��'����-- _ _
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<br /> • Estete Settlement Procedures Act of 1974 as nmended from dme to dme.12 U.S.C.$2601 et seq.("RESPA").unless another �s�`=--
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<br /> law that applics to the FLnds set�a tesset amount. If so,Lender may,at any time.coltect und hold Funds in an nmouut aot ro -``�"'
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<br /> ; - • � �:- cxcc�d the lesser amount. I.ender may e�timnte the amount of Funds due on the basls of current dsua sind teasanable �'� �'-
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<br /> �� est�mates of expenditures of future Escmw Items or otherwise in accordpnce whh appltcable law. �:-"�- -
<br /> � The Funds shntl be hc(d in un institution whose deposits ore lnsured by a faicral agency, inswmentality.or entity -_----=_v
<br /> . ' (including L.ender,if i.ender is sach an insdtudon)or in�ny Federal Home Loan Bnnk. Lender shall apply the Funds to pay - _
<br /> the Escrow Items. Lender muy not charge Borrower fur holding and Applyins the Ftmds,annually enalyzing the escrow =—=---
<br /> account,or verifying the E.urow Items, unless l.ender puys Borrowcr interest on the Funds and appllcable law petmits � . . '�°""""'"
<br /> . L.ender to muke such a churge. However.l,ender may requlre Bo►rower to pay a one•timo charge for an independent real -
<br /> ° estate tnx reporting service used by Lender in connection with this loan.unless applicnble luw prnvides otherwise. Unless an , ,,� ,;'---�
<br /> � , a�eement is made or applicable Iaw requires interest ro be puid,Lender shall not be required to pay Horrower any interest or , ��
<br /> enmings on the Funds. Borrower und I.endcr may ugme in wrtting.howevcr,thnt interest shall be paid on the Funds. Lender ��_
<br /> ' sh�ll give to Borrower,without chsuge,nn annual nccounting of the Funds.showing credits nnd debits to the Funds and the •
<br /> - . _—_--_.__.___._. purQose for which euch debit to the Funds wus made. The hunds s+re pled�ed as udditionul security for all sums secured by ,
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<br /> • � thls Security Instntment.
<br /> If the Funds held by Lender exceed the amounGc permitted to be held by applicable law, L.ender shall nccount to .
<br /> Borrower for the excess Funds in accord�ce wtth the rcquirementc of applicable law. if the amount of the Funds held by
<br /> Lender ut any time is not sufYictent to puy the E.ecrow Items when due,I.ender may so notify Bor.rower in wciung.and,in
<br /> such case Borrower shall pay to Lender the amount necessary to make up the deftciency. Borrower shall make up the . •
<br /> deficiency in no more thun twelve monthiy pnyments,ut Lender's sole discredon. �' `
<br /> Upon payment in full of ull sums secured by this Security inctn�mcnt, Lender shull pn�mptly refund to Borrower any _: '� �
<br /> FLnds held by Lender. If,under puru�raph 21.I.ender shull acquim or scll thc Property.Lender,prior to the acquisition or f � ��, j
<br /> sale of the Propeny, shall apply uny Funds held by Lendcr at thc time of acquisltion or sale as u credtt ugainst the sums �
<br /> secumd by this Security Instcumeot. �i+,:-,
<br /> 3. Applicatton of I'symenfs. Unless applicablc law provides othcrwise, all payments recetved by Lender under , �...,,
<br /> ' ' paragraphs 1 and 2 shaU be upplied:first, to dny pmpayment chur�es due under the Note;second,to stmounts payable under • s . i
<br /> • parugraph 2;third,to interest due;founh,to principai due:and iast.to nny lute charges due under the Note. �,J,i;�'�P'
<br /> • 4. Cher�es; I.fens. Burrower shall pay uU tuxes,u»e�smenti,churges, 8nes and Impositions attributable to the ;,.�'-
<br /> ' Pcoperty which may uttnin priodty over this Security Instrument,und leasehold puymentx or gruund rents,if any. Borrower y�,s�. _
<br /> shall puy these obligutions in the manner provided in puragmph 2,or if not paid in that munner.Borrawer shall pay them on �
<br /> time dimctly to thc person owed pAymcnt. Borrawer xhall promptiy furnish tn Lendcr ull notices of umounts to be paid undcr ,.
<br /> this paragraph. lf Borroti+�er makes these pnyment.dirertly, Rorn�wer,hall promptly fumish to Lender receipts evidencing � ........ ._,
<br /> the payments.
<br /> Burrower shall promptly dischurge any licn which ha�priority over this Security In�trument unle.�Borrower.ta)Agrees
<br /> in writing to the payment of the obligation secured hy the lien in a munner ucceptable to[.ender;(b>contests in good faith the � ., -
<br /> . lien by,or defends ugainxt enforcement of the licn in,le�al proceeding�which in the Lender+upinion operate to prevent the
<br /> enforccmcnt of thc lien;or tc)secures fn�m the holdcr of thc licn an u�rcement+uti�fuctory ro Lendcr subordinuting the lien �
<br /> . to this Security [nstrument. If Lender determinc,that any part af the Property is subject to u lien which mny uttuin priority G �
<br /> over thiti Security Instrument.Lcnder may givc Burrowcr u notice identifying thr licn. Bonowcr tihall�atisfy the lien or take ; �
<br /> � ' • � �ne or mom of thc uctions tict fnnh ulwvc within Ip d�ys of thc giving of noticc. I
<br /> � 5. Hnxard or Property Insurance. Borcower.huli kcep th�improvement.noa exi.ting or hemafter erected on the
<br /> � Property insumd aguinst loxs by tire,huzurd�includcd within the tcrm "cxtended covcrugc"and any othcr haxurds,includin� •
<br /> . floods or flaxiing, for which Lendcr Ryuin:, in,urunrc. This in+urancc shalt be maintaincd in tfic amount. and for thc
<br /> � ' form 302li 9I90 ���xr:„fn n„x��,�
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