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<br /> ;_— ���� TOCiETNER WITH all tbe impcovements naw or hereuftcr erected on the property,o�ad ali easementn,oppurtenc�ncec.
<br /> aud flxtures now or hereAfter a p�rt of the property. All replacemenGs and addltions shall also 6e covered by dilR Security
<br /> InstrumenG All of the foregoing is refeered w in thia Securiry Insnument as the"Praperty"
<br /> 80RROWER COVBNAIVI'S that Botrower ia lawfully seised of tbe eatate hereby wmveyed and he.g the dght W grant
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<br /> �� :h and convey the Property apd that the Pmperty ia unencumbered,except for encumbraacas of record. Horrower warrants and
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<br /> wUi defend generally the dda w the Propecty ageivac aU ctaims�nd demands.subject to any encumbmnces of reco . �- - -- - -:
<br /> � � �,�� ;v. THI3 SECURITY AVSTRUMBIVT combiaes uniform covenents for nadonat use and ac�p•uniform covenants with
<br /> ° •-�+��'�.�. ..�-.- limite�varist�ons by jurlsdictioa to consdtute a uniform security lnshvmeat covering real propacy.
<br /> t �'�`°'%''��`."�" UIJIFORM COVBNANTS. Boirower and Leader covenant and agree as follows:
<br /> ��'�'� 1. Payment of Prindpal and Iaterest;Prepayment and Late Chargess. Homower shall prompQy pay when due the
<br /> � `�� �, principal of and interest on the debt evidenced by the Not�and any prepayment and late chargesdue under the Note.
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<br /> _ �� . 2. Funds for lhxes aad Insurence. Subject to applicable!aw or to a wrIttcn w�iver by I.ender,Barrower shall pay W L--_�=
<br /> �"y � . , . I.eader on the day monthly payments are due under the Note,until the Note Is paid in full. a sum("Funds")for.(a)yearly
<br /> .�� ' � taxes and assessments which may attatn p�ority over this Securiry Instivment as a lien on thc Praperty;(b)yearly leasehold _
<br /> ' payments or ground rents on the Property, if eny; (c) yearly ha�ard or property insurance prcmiums: (d) yearly tlood
<br /> % ' „ . insurance premiums, if any; (e)ye;arly morigage insurance premiums.if any; and(� any aums payable by Born�wer to
<br /> � " Lender,in acwrdance with the provistons of paragraph 8,in lieu of the payment of mortsage iesivanca premlums. These �
<br /> , items ate called"Escrow Items." Lender may,at any dme,collect and hold Plmds in an amount�ot to exceed the maximum
<br /> ' ._—__�_ am�nnt n lender fer a federally nelated mortgage loan maY t+eQuitC for Borrower's escrow account under the federal Real --•---
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<br /> . Fata�e SCtiiCU�cut P,u�:edures Act of 1974 as amended from t�me to dme,12 U.S.C.§26U1 es seq.('K�PA"),unless anu ic� ��;,o,�____ - - - _
<br /> law that applies to the Ft�nds sets a lesser amount. If so,Lender may,at eny time,collect end hold Funds in an amount not to ,b,�_
<br /> ' � -�. exceed the lesser amount. Lender muy est�mate the amaunt of Fhnds due on the baeis of current data and reasonable -;;;�::
<br /> estimates of expenditures of future Escrow Items or otherwise In accordance with applicab�law. ' "'��r-
<br /> The Funds shall be held in an insdtudon whose depostts au+e insured by a federal agency,instrumentality.or entity j �T,
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<br /> � (Including L.ender,if Lendcr is such an insdtudon)or in any Fcdcral Home L.oan Bank. Lcndcr shdl upply the Funds to pay � .��.
<br /> the Fscrow Items. Lender may not chnrge Borrower for holding and applying the Funds.ennuaUy analyxing the escrow
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<br /> ," accoun� or vcrifying the Hscrow Items, unless L.ender pays Borrower interest on the AurMs and applicablc law permits . •-x;
<br /> � • Lender to make such a charge. However,L.ender may require Borrower ta pay a one-time charge for an independent real .�•�y�F;._=
<br /> . estate tax reporting service used by Lender!n connection with this loan,unless applicable law provides otherwise. Unless an
<br /> agreement i�s madc or applicablc law requims interest to be paid,I..ender shall not bc reyuired to pay Bortower any Intec+est or �`° _—
<br /> � ' eamings on the Funds. Borrowcr und Lender may u�ree in writing.however,that interest shall t►e paid on the Funds. L.ender "'';"
<br /> . — __—_-_ shall give to Borrower,without churge,an annual accounting of the Funds.showing credits and debits to the�Lnds and the
<br /> � „ purpoce for which each debit to the Funds was m�de. Thc Flinds are�led�ed as udditionat secunty for nll sums secured by � -, �'c,�
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<br /> this Secudty Instrument. � °
<br /> , If thc Funds held by Lender erceed the amounGS permitted to Ix held by applicnble law,Lender shall account to
<br /> Borrower for the excess Funds in accordance with the mquirements of app►'cabte law. lf the artwunt of the Funds held by ,,
<br /> Lender at uny ttme is not sufficient to pay the Escrow Items when due.Lender may so notify Borcower in writins,und,ln
<br /> such case Borrower shall pay to Lender the amount nececsary to muke up the deficiency. Barower shall make up the
<br /> deficlency in no more than twelve monthly paymentx,ut Lender�s sole discretiun. �s
<br /> � Upon payment in full of all sums secured by this Security instrument,Lendcr shali prompdy refund to Borrower uny t �.
<br /> � Funds held by Lender. If,under para�raph 21,Lender shull acquirc or xcll the Property,Lender,priar to the acquisition or
<br /> sale of the Property, shall apply any Funds held by Lender at the time of ucquisitian a sale as a credit against the sums �. ,
<br /> " secured by thts Securiry Instrument. . `�'��
<br /> 3. Applicution of Payments. Unle+s applicable law provides atherwise, all payments received by Lender under '�
<br /> paragraphs 1 and 2 shall be applied:Grst,to uny pmpayment charges duc under thc Note;secand,to amuunts payuble undcr , �'��
<br /> paragrisph 2;third,to interect due;fourth,to principal due;and last.to uny late chazges due under the Note. ,�,
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<br /> � 4. Charges; I.tens. Borcawcr shall pay ull taxes, assessments,charges, fincs and impositions attributable to thc -�J ,
<br /> Property whtch may atta3n priority over this Security Instrumem, and Iea,ehold payments or ground rents,if any. Borrower ��_:��
<br /> shal(pay these obligations in the manner provided in paragraph 2,cx if not paid in thut manncr, Borrower shull pay them on � .
<br /> timc directly to the person owcd payment. Borrowcr shall pmmptly furnish to Lendcr all noticcs of amountc to be paid under „ -
<br /> this paragraph. Tf Borrowr,r makes thcxc payments directly, Borrower xhull prompQy fumitih tc�Lcnder rcceipts evtdeacing
<br /> thc payments. '
<br /> Borrower shall prompdy di�churge any lien which hu�priarity over�hix Srcuriry Insintrnent unlesc Borrower.(a)agmeti
<br /> � in wdting to the payment of the obligation secured by the licn in u munner ucceptuble to l.ender;(b1 conte�ts in good faith the • �
<br /> lien by,or defends against enforcement of thc lien in,legul praeedings wh�ch in the Lender's opinion operate to prevent the �
<br /> enforcement of thc licn;or(c)securcs from thc halder of the licn un ugrcement�atisfactury to Lendcr subordinating the licn
<br /> to this Secudty Insuument. If Lender detennines th•rt any purt of the Propert�•is�ubject�o a lien which may attain priority
<br /> over this Security Insvument.Lender muy give Borrowcr u noticc idcntifying thc lien. Borrou•cr�hall satisfy the lien or take
<br /> one or more of th:actions set forth ubove within 10 dayx of the giving uf notice.
<br /> S. Hazard or Property Insurance. Bormwer shall kcep thc improvcmcntx now exis�in�or hemafter erected on the
<br /> ', Pmperty insurcd against losx by rre,ha�ards included within the term "extended coverage" and any other hazards,including
<br /> flocxic or flooding, for which Lender require+intiuranee. This in�urunce shall he maimaineJ in the stmount� and for the
<br /> Form302R 9/90 �puge 1 ajb puRP.0
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