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<br /> ' � TOU�THEIt WITH sll the improvementa now or h�:renftor crcctcd on the property.un94nsc�lf���t�ances.
<br /> and fixtun�now or herta4'tet n psut of the property. A61 replbccmcntx und addidons shall�Iso ba covercd by thie Security
<br /> ' InstrumcnG All af the foregaing is rofernd w in this Securiry Insttuistent as the"Propetty."
<br /> BORROW�R COVENANTS thut Boaower ia lawfuAy selsed of the eateto heraby convoyad and has the dght ta grant
<br /> �.____��_^,� and coavay Qw P�operty and that the Pooperty is unencum6ered,exoept for ancumbaances of record. Bomower warrants anst
<br /> �vill defend generally tha title to the Property egainst all clafma end demaads.subject w any encumbrances af record. — - ----
<br /> — —_— THIS SECURtI'Y INSTRUMBNT comb�nes unifotm covenunts for national use and non-unfform c�venunts with �_ ----
<br /> �" limited varladons by jurlediction to conadtute a w�iform secuiity instrument cover(ng real prapeKy
<br /> UNIFORM COVENAIVTS. Botrowcr and Lender covennnt end agree as foUowe:
<br /> 1. Peyaient of 1MndpAl nnd Iatqresst Prepayment and i.ste Charges. Bomnwer shell prompdy puy when due the
<br /> � pi�iactpal of and interest on the debt evidcnced by the Note and any prepayment and late charges duc under the Note.
<br /> 2. Funds for 1laxes and Insurance. SubJect to appItcable Isw or to a wriuea waiver by Lender.Horrower shalt pay to
<br /> � �' • I,ender on the day monthly payments arc due under the Note.untU the Nota ia paid ln full.a sum("Funds")for.(a)yearly <
<br /> . r taxes and essessmeate wtdch mey susiA prlorlty over this Security Inahumept as a lien on the Property;(b)Yearly leasehotd
<br /> . ".�.���,v ,. paymeata or ground re�►ta on the Property. if any: (c)Yearly hazaM or property insumnce premiums: fd)yearly flood
<br /> � ��` ��'�`"'�''� i n a u r a n c e premtuma, if an y; (e) yearl y mort ga ge insurance p�miuma,lf any;and(� any sums payable by Borrower W
<br /> �'"�'"h•.•'•�J�i• Lendor.in accordance with the provisions of paregraph 8,in lIeu of the payment of mortsage insurance pre m iums. T hese
<br /> ��-.n-i�`:'•`��� . � "�;�, ttema ere cslled"�scrow Items." Lender may.at any time,coUect and hold Pt�nds in an amount not to exceed the maximum
<br /> ' ;Ta�ri:i .: .
<br /> ,,;,�„Y...,,L .,,,��;, amount a lender for a federally related mortgage toan may reguire for Borrower's escrow accaunt under the ede
<br /> r,:��'::.:• '�'�. . ' Estate Scttlement Procedures Act of 1974 as amended from time to time,l2(J.S.C.$2601 et seq.("RESPA").unless another
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<br /> .. �t law that applies to the Punds sets a tesser amount If so.I.ender may.at uny dme,collect and hold Funds n an amaunt not ___
<br /> - . ---•—_~=----,_-- � cxcccd the lesser aruount. Lender may est3mete the amnunt of Funds due on the basis of cwrent data and reasonable
<br /> � � � � esdmates of expenditures of futuc�e Escr+ow Items or othenvise!n accordance with applicable law. f
<br /> � The Funds shall be held in an fnatitutlon whose deposits arc insured by a federa]agency,Instrumentallty.or eatlty �
<br /> � .,;.; . ' flncluding Lender.if Lender is such en instltudon)or in any Fedec�al Home Laan 9ank. I.ender shall apply the Funds to pay
<br /> ^ � the Fscmw Items. I..ender may not cherge 9orrower for holding and applying the Funds, annually analyzing the escrow
<br /> . account,or verifyln� the Fscrow Items, unlesa Lcnder pays Bortower interest on the Flmds und appltcable law pecmlts
<br /> ' Lender to malce sach a cherge. However,I.ender may require Boaower to pay a one-tIme charge for an independent real
<br />- � ' ., estate tex reporting service used by Lendcr in connect�on with this loan,unless appticable law provides othenvise. Unless an ��:
<br /> agreement is made or appltcable luw reyuires interest to be paid,Lender shall not be required to pay Borrower any Interest ot '"'w;.__
<br /> � • � ea�nings on the Funcls. Borrowcr and Lender may agrce in wridng,howcver,that intcrest ahall be paid on the FLnds. i.ender '�.• __
<br /> shall give to Borrower,wlthout charge,an annual sccountin�of the Funds,showing credlts and debits to the FUnds end the rt�:`'� _
<br /> � putpose for which each debit to the Funds was made. Tha Funds are pledged as additional securiry for ull sums secured by ���
<br /> - . , ^ , this Security Instrument. _ , -
<br /> � ' lf the Funds held by L.ender exceed the amounts permitted to be held by applicnble luw, Lender shall account to �-,;ya:
<br /> Borrower for the excess Funds in accordance with the requirements af applicable law. If the amount of the Flmds held by > �.•;.,,
<br /> • Lender at any time is nat suffictent to pay the Escrow Items when due,Lender may so nottfy Borrower in wrlting,and,In ���
<br /> ' such case Borrower shall pay to L.endcr the amount necessary to makc up the deficiency. Borrower shall make up thc � ''.�
<br /> � �� deCciency in no more than twelve monthly puyments,nt Lenders sole discretion. �• "
<br /> � •-=�:::.;-�� - -- - L'pan payment in ful!ef�1!s:t�ns securcd by this Sectfrity Inctmme�t, Lender shall prompdy refund to Boaower any —
<br /> , "f Funds held by Lender. If.under paragraph 2I,Lender shell ucquire or seA the Property.Lender,prior to the acquisition or ������� `,o�=
<br /> sale of the Pmperty, shall apply any Funds hcld by Lendcr ut the time of acquisition or salc as a credit against the sums • _.
<br /> ' secured by this Security Instrument. �
<br /> 3. Applieadon of Payments. Unless upplicabte Inw provides othecwise, ull pnyments received by i.ender under �g---
<br /> ' ' paragraphs I and 2 shall be applied:first,to uny pmpayment chnrgcs duc undcr the Notc;sewnd,to amounts payable under ,w:�_„
<br /> ,i� paragraph 2;third.ro intcrost due;fourth,to principal duc;and fast,to any late�hurges due under the Note. �-��.;.r
<br /> , 4. Chargesi I.ien�. Borrowcr shull pay all taxes, asscssments,churges, fines and impositions attributable to the , �!=
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<br /> Property whlch mny attain prlorlty over this Securiry Instrument.und leaxehold payments or ground rents.if any. Borrower �/�'
<br /> . shell pay these obligudons in thc manncr provided in purugraph 2,or if not paid in that munner.Borrower sha11 puy them on ., r;_,._
<br /> timc directly to the person owed pnyment. Borrowcr xhall promptly furnitih to Lender ull notices of amounts to be puid under • • �
<br /> � � ' � this puea�raph. if Burwwei muke�these paymcnts directly. Borro�ver shall promptly furni�h to Lender receiptc evidencing �r�
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<br /> the puymentc. i�.—u�
<br /> ' Botrower shall pmmptly dischurge uny licn which has priority over this Security Instrumcnt unless Aorrower:(a)agrees ��'���,;�
<br /> in writin�to the pnyment of the obligution securcd by the lie�in u manner ucceptable to Lender;(b)cantests in good faith the
<br /> � . lien by,or defends u�uinst enforccmcnt uf the lien in,Iegal praceedings which in the Lendcr�opinion aperate to pmvent the � ,
<br /> � ' enforcement of the lten;or(c)secures f�om the holder of the licn un ogreement�atisfnctory to Lender subordinating the lien
<br /> to this Security Inswment. If Lender determines thut uny part of the Pmperty is subjcct to a licn which may attain priority
<br /> , over t[iis Security Inswment,Lender may�ive Borrower a notice identifying thc lien. Borrower shall satisfy the lien or take
<br /> one or mom of the actions set forth above within 10 duys of the giving of noticc. •
<br /> " • 5. Hezerd or Property Insurance. Borrowcr shaU kcep thc improvetnents now existing on c�reaflcr erected on the
<br /> �� Property insured against locs by firc,huzards included within the tcrm"extcnded coveragc"und any other hazards,including
<br /> '• } fluods or flooding,for wh{ch Lender mquires in�urance. This insurunce shull lx muintaincd in the amounts und for the
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<br /> Form 302R 9/90 IpnRe 1 njbpaRes►
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