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<br /> •"�'°":°��"�...'� TO(iBTHER WITH all die improvements now or hereafter erected on the property.and all eusements.nppurtenunces, ---
<br /> and fiatures now or hercAfter u part of the property. AU replacements and addidons shaU also ba covemd by thls Security
<br /> Iasm�men� All of the foregoing is�eferred to in Ihis Security Iasnvment as the"Property."
<br /> BORROWER COVENANTS that Sorrower is!c►wt��lly selsed of the estate he�+eby conveyed ead has the dght to grant
<br /> � aad convey the Property end that the Pmperty is uaencumbered except for encumbrances of record Borrower waerants and
<br /> _ w111 defend generaUy the title to the Property egainst aU claip�s and demanda.subject w any encumbraucea of record
<br /> ;�,. TEQS SECURITY INSTItUMENT cambiaes unifotm covennnts for nutlonni use nnd non-uniform wvenarG4 w(th �-_ -- -_-
<br /> �� limited variadons by jurisdicNon to wnsdtute a uniform security Inauument covering mal property.
<br /> � UNIFORM COVENAIVI'S. �orrawet and Lender covenatit and agree ss foUowa:
<br /> � 1. Payment of Priudpal and Interest;Prepaycueat und Lute Charges. Botrowcr shall prompdy pay when due the
<br /> ,; - ,'I,� ':` principa1 of and interest on the debt evidenced by the Note snd arty prepayment and late charses duo under the Now. _
<br /> '� ,,,, Z. F�ttnds tor 1laxes and I�ura�ce. Subject to applicable law or to a wrltten waiver by I.ender,Borrower shall pay to _
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<br /> � x�'�_ �' a�,�. Lender nn the day monthly payments ac�e due under the Note. until the Note is paid in full.a sum("Funds")for.(a)yeady --_
<br /> ��' 7f' `S.'"•` taxes aad assessments which may attain prlodry over this Secudty Iastrument as a licn on thc Property;(b)Yeurly leasehold - ---__ -�°°
<br /> __ „�.;.���_ paymcnts or grauad renu oa the Pmperty.!f any: (c? Yearly hazerd or pm�ery insurance premiums: (d1 yearly flaod -""-��_ --
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<br /> i� �;-.. ^;, _ iasurance premiwns, if any; (e)yearly mortgage insurance premiums. if any; and(�any sums payable by Borrower to _
<br /> %' �,,,, •-r�� Lendsr,in accordance wtth the provistons of paragraph 8,in lieu of the payment of mortgage insurance premiums. These �" -�
<br /> '`�`'r� ' ` Items are called "Escrow Items." Lender may,at any dme,coUect and hold Funds in an amount not to exceed the maxtmum ,•�;;r�,«:,
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<br /> .•�.�,,�. �. :,".: amount a lender for a federally mlated mortgage loan may r�quire for Boirower's escraw account under the federal Iteal ,f;f.-�^
<br />' �. :••• • , � Estete Settlen�ent Proceduros AcY of 1974 as amended from dme to dme,12 U.S.C.§2601 er seq.("RESPA"),unless another '�.�c. ,,�,_
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<br /> ' ' � .. law that applies to the Funds sets a lesser amounG If so,L.ender may,at any time,coUect and hold Funds in an amount not to �'.;•���'=.--- _
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<br /> ° exceed the legser emount. Lender may esdmate the smount of PUnds due on the basls of curnent data and reasonable '�- 'i�'L>,�
<br /> � ' estimates of expenditures of future Escrow Items or otherwtse in accordance with applicable law. � � `
<br /> �� The Fundc shall be held in an insdtution whose depoaits are Insured by a federal agancy, instrumentelity,or endty � ��.'��•-�a�
<br /> ; '. (includ{ng L.ender,if Lender is such en insdtution)or ln any Federal Home Loan Bank. Lender shall apply the Funds to pay �� _ �---=--
<br /> ' ° the Escrow Items. Lender may not charge Boaower for holdin�and applying the Fl�nds,annnally analyzing the escmw �°r •-
<br /> � � , account, or vedfying the Escrow Items, unless l.ender pays Borrower interest on the Funds and applicable law permits y"��
<br /> [.ender to make such a charge. However.i.ender may require Borrower to puy a one-tlme charge far an independent real • f;�,._._
<br /> estate tax reporting service used by I.ender in connectlon wIth this loan.unless bppljcable law provldes otherwIse. Unless en . •� -
<br /> " agrcement is madc or applicable law rcquires interest to be paid,Lender shall not be required to puy Borrower any interest or
<br /> - . eatnin�s on the FLnds. Horrower and Lendcr may agree!n writin�.howevcr.that interest shall be paid on the FLndc. Lender , '.�,���
<br /> , shell give to Borrower,without charge.an annunl accoundng of the Funds,showin�credits and debits to the Funds and the �-
<br /> '" , purpose for which each debit to the Fl►nds was made. The FLnds rue plcdged as additional security far all sums secured by
<br /> - - � ---- ihts Secur3ty Insuucsicnt. ° -
<br /> � If the Funds he18 by Lender exceed the amounGs pertnicted to be held by applicable luw, Lender shall account to . , _ -
<br /> �, Sorrower for the excess Funds tn accordance wlth the requirementx of upplicable law. lf the amount of the Funds held by `=�_
<br /> Lender at any time is not sufficient to pay the Escrow Items when due,L.ender may so notify Borrower in writing.and,1n —
<br /> - ,' ' such case Bomower shall pay to Lender the umount necessauy to make up the deficiency. Borrower shall make up the „�• .�
<br /> � defictency in no more than twelve monthly payments.at I.ender's sole dtscretion. �-
<br /> � Upon paycttent in full of aq sums secured by this Securin•lnstrument,Lender shall promptly refund to Borrower any , ' "'"
<br /> ' �• � .. Funds held by L.ender. If,under parngr�ph 21, I.ender shall acquire or sell the Property,Lender.prior to the ucquisition or t'��..-�
<br /> sale of the Properry, shall apply any Funds heid by Lender at the time of acqutsition or sale ac a credit against the sums
<br /> � sewred by this Securiry Inswment. • �`�d ;.
<br /> �. 3. AppltceUon of Payments. Unless applicabl� law provides othenvisc, ap puyments received by Lender under ��l •
<br /> ara ra hs 1 and 2 shall be u lied:ftrst, to an re a ment char es due under the Note;second,to amounts a nble under ��"�
<br /> �, P 8 P • PP� Y P P'Y S• P Y ' '�:�
<br /> �. ' � parngraph 2;third,to interest due;fourth,to principnl due:und last,to uny lute churges due under the Note. �>;��,�
<br /> � 4. Charges; Liens. Borrower shall pay all taxes,assessment�, charges, tines and impositions atuibutable to the ��
<br /> Property which may atutin priority ovei this Security lnstrument,and leasehold pnyments or ground rents,if any. Borrower '?'�/ ��•
<br /> � � . � shall pay these obli�utions in the mam�er provided in parugraph 2.or if not paid in that manner.Borrower shall puy them on • " '��
<br /> ' dme direcdy to the person owed paymcnt. Borrower shall pmrnptly furnish tu Lender all notices of umounts to be puid under ' � ���{` �
<br /> this paragrup9�. If Borrower makes these pUymcnts dircctly.Borrower shall promptly fumish to Lcnder mceipts evidencing `
<br /> . the payments. _ �
<br /> . Borrower shall promptly dischar�c any lien which has priority over this Security Instrument unless Borrower:(a)agrees , ' • �•
<br /> in writing to the payment of the obligation securcd by the lien in a manner acceptable to Lender:(b)contests in good faith the • �
<br /> • lien by,or defends against enforcement of the licn in,legal proceedings which in the Lendcr's opinion operate to prevent the '
<br /> enforcement of the lien;or(c)secures from the holder of the lien an a�mement satisfactory to Lender subordinatin�the lien '
<br /> " to this Secudty Insuument. If Lender determines that nny part of thc Property i+su6jcct to n licn which may uttain priority
<br /> over this Security Instcument,L.ender mny give Borrower u notice identifying the lien. Borrower shall satisfy the lien or take
<br /> one or more of the actions set forth above within ]0 day�of the giving of notice.
<br /> 5. Hazard or Property Insurance. Horrowcr shall keep the improvcmcnt�now existing on c�rcaftcr erected on the
<br /> , •• Property insured against loss by fire,ha�ards included widiin thc term "extended coverage"and uny othcr h:uards,including
<br /> ; � floods or flooding, for which Lender requires insurance. This insurance shall be maintained in the umounts and for the
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<br /> � . Form 3028 9/90 IprXe 2 njb puRrsl
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