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<br /> -==� y_ __- ._,....,�,� , 94-�o�s� ;—
<br /> .—____- TOQ�'fHER W[TH e1t the improvementa now or hereafler erected�r►the property.and all easements,appurte nces.and
<br /> Cxtur��s now or hereufter a pnrt af the praperty. Al� repincementF and additions ahalt alsa be cavered by this Securlty �
<br /> Instrument.All of the forcgoing is refernd to in this Sccudty Instrument as the"Property." --
<br /> BORROWER COVBNANTS that Borrower ia lav�fully selsed of the estnte hereby canveyed and has the right to grunt and
<br /> — convey the Property und that the Property iA unencumbe�ed.except far enrambrances pf record. Aorrower warranU+nnd will
<br /> "_ defend generally the title to the Pmperty against all clalms and demands,subject ta any encumbrances uf record.
<br /> . — �� THIS SE�URITY INSTRUMBNT cc�mbioes uniform cavenants for natianal use and non-uniform covenanta with Umited = -
<br /> '' vsulations by Jurisdicdan to constitute u unIfarn�sccurlty instrument cavedng real property.
<br /> - UNIPORM COVENANTS. Horrower and Lender covenant and ag�e as fallaws:
<br /> l. Payment ot Principal and Interest; Prepayment and l.ate Charges. Borrawcr shall pramptly pay v�hen due the
<br /> pr�ncipal of and interest on the debt evfdenced by the Note and any prepayment and late charges due andsr the Note. _—
<br /> ^��;�: � - Z. �nds Por Taxes and Insurance. Subject to applicabk law or to a written waiver by L.ender. Borrower shuli pay to _
<br /> �-• �•`� L.ender on the day monthly paymenGti are due underthc Note. untfl the Note is paid!n full.a sum("Funds")for:(a)ycurly taxes =._
<br /> ` Y x��I�•r�. .ew.._..—_
<br /> ,..t_ und ossessments which may attain pr�arIty aver this Secudry Iastrument as a lien on the Property;(b)yearly lea�c:hnld payments .�__ -__
<br /> Mi:
<br /> -- — or ground rents on tl�e Property,if nny;(c)yearly httwrd or properiy insurarx��rremiamc;(d)yearly flrxxl insuranc�{+r�mi��mv, _— _
<br /> .... F..�����lfi
<br /> �i ; ,�,y,.,� ... .__ If any:(e)yearly mongage insurance premiums. if any; and (0 any sums payable by Borrower ro i.ender. In accordunce with
<br /> /r '� �� '���°' •• ` the provisions of paregraph 8.in lieu of the payment of mortgage insurnnce premiums.These items are called"Escrow Items." _�,
<br /> � • �..•.... ,.,.
<br /> � ;�i��." • .• Lender may, at any dme,collect and hold Funds in an amount aot to excced the maximum amaunt a lender for a federally __
<br /> . , . ., �� � �aa�,
<br /> s�-,r � • � ��• . related mortgage loan may require for Borrower's escrow accnunt under the federal Real Estute Setdement Pracedures Act of
<br /> �'�'t'• ' : �,t....�A �^���_�
<br /> ,�..•,�:.„.: �,, 1974 as amended from time ta time, 12 U.S.C. Sectton 1601 et seq. ("RESPA"),unlesti another law thut applies to tl�e Funds •y�:::...__
<br /> . . ._ . _ . `. ..,
<br /> • � ��� � seu a lesser amoun[.If so. Lender muy. at nny time, cdlcct and hoid Funds in an amount not to exceal Q�e les�r atuaunt. �`'- • -
<br /> ��-_
<br /> .. I.ender may estimate the amount of Funds duc on the busis af curnnt data and masonablc estimates of expenditures of futune 'rt�';�.'=
<br /> , �� ' Escrow Items or otherwise i�accordance with upplicable law. ' '"
<br /> The Fundti shall be held in an institution whose deposits are insured by u federal agency, instrumentulity. or cnttty 's'
<br /> �:; • (including I.ender, if I.ender is such an Institution)ar ln any Federal Home Loan Bank.Lender shall apply the Funds to pay the -
<br /> � ' Escrow Item.r•.Lender may not charge Borrower far holding and applying the Funds, �nnually anulyr.ing the escrow uccount,or •` ���`�"=
<br /> " verifying the Escraw Items, unless I.ender pays Bnrcower interest �n the Funds and applicablc luw permits i.ender to make such ' =--�
<br /> i r
<br /> u charge. However, I.ender may require Borrower to pay A one•time charge for un independent rcul estate tau reporting service " ,,• _
<br /> ' ' used by Lender in connectlon with this loan, unless applicable law provides otherwi�e. Untess un a�rcement is made or �;, ' °�"_'-
<br /> „ upplicable law requircs intcrest to bc paid, [.cndcr shall rat bc required ta pay &�nowcr any intemst ar carnings on the Funds. `�'-�
<br /> «. ��,
<br /> Borrower and I.ender may agree in writin�, however,that intcrcst shall bc paid on thc Funds. Lender shall give to Borrower, • r�._=---
<br /> - —`"— witiwW chargc, an aimuai ucwuuting uf titr Fuud., �IiaiKtiib'cr�.:iitc an�i dchiis i�ihc I'unds and thc purpo�c far a•hich rach
<br /> �' " debit to�he Funds wa,made. The Funds urc pledged us addicional securiry for all sumti sccurcd by this Security Instrument. � `�`
<br /> If the Funds heid by Lender exceed the umounts pt:rniitted to be heid by upplicabic luw, L.ender shall account ta Borrower ' ��
<br /> for the excecs Funds in accordance with thc requirements of applicabte luw. 1f the umount of the Funds held by I.ender at nny ��-_-
<br /> time is not sufficicnt ti� pay the Escrow ltems when due. I.endcr may so notify Bormwer in writing, t�nd,in such casc Borrowcr
<br /> � �halt pay to Lcnder the amount necestiury to mukc up thc deficie�uy. &irrower shull muke up thc deficiency in nu mc�re than , "���-
<br /> `'; twelve monthl a ment�,ut i.ender's sole discretion. �`�`
<br /> . Y P'Y �
<br /> . ' Upon payrnent in tuU �if all sumti .recured by this Security Inst�ument, l.ender.hall promptly refund to Bonower any , �
<br /> ' � Funds held by l.endcr, If,undcr pur�graph 21, l.cndcr sliall :�cyuirc or,cll [Ix Propeny, L.cndcr, prior to thc ucquisitlun or sale '" �'=_
<br /> of thc Pro ert , shall a f un Fund+hclJ b I.endcr ut�hc timc uf ar uitiitiim cir+alc ar a crcdit a ainst thc sums utiurcd b `a���
<br /> . P Y PP Y Y Y 4 S Y .. �r•:-:-
<br /> this Security In+trument. "i',`�•--�:_
<br /> 3.Appllcetfon of Peyments.Unlrsti upplirahlc I:�w pruvidcti othcnvitic,all payment,rereivc�d by L.endcr undcr paru�rdphs . :'.��""
<br /> t 1 and 2 tihull bc applicd: ftrst,to any prcpaymcnt char�c�duc undcr thc Notc; �crund,tc�:�mount.payublc undcr paragr�ph 2: . ��`�Y.
<br /> third,to intcnst duc:founh. to principul duc;and la�t,ec�any latr chargc+duc undcr the N<�tc. ,.,,;,
<br /> ' 4.CharA�; I.iens.&irrow•cr�hall p:ry:dl tax�...tsx+�mm�t+,rhargc�,f inc+and impn,itiom attrihutahlc tu thc Araperty ' ' �
<br /> which m•ry attain prinrity�rvcr thi� Scrurity in,trutttcnt,and Icxsclxild puyment.or grc>w�d rentti, if any. Borrowcr shall pay� ° '
<br /> thcsc obligutian�in thc manncr pr�n•idcd in paragraph 2. nr i f ixa paid in that mannrr. &rrruw�r.haU puy thrm on timc dircctly ., •
<br /> to the per+on oacd paymcnt. Borro�ti•rr�hall pratnptly fumi.h tn I anJer all notirc+��f am��unt.to be paid undcr thi�paragraph. �
<br /> • If&urowcr makc.r thctic e incnt,dirertly. Burruar�.haU �om tl•furni,h ta I.�nJcr recri tti evidoncin thc a mcnt.. � � �''
<br /> P'Y P P ) P F P'Y .
<br /> - - -- Barrcm�cr shall prc,cnptly disrha-tr an}� !irn irhech ha�F+rN�rily ovcr Ihi.e���•��r�r.• ��n��un,��nt unlc•• P�•rrr��•c�: i:)agrv:c-.in , ....
<br /> writing to thc paymm�t��f thr uMligation.crurcd h�•thc 1 icn i n a m:mnrr arrcptaMc ta lxnJrr. Ih)runtr�t.in gcxxl taith thc licn " �'
<br /> by. or defcnd. ag:iin�t enti�rrcmcm u1 thr licn in. Ic�al�r�k�riling� ��•hirh in thc I.c»der'� ��piniun uprr:rtc to pre�•rnt thc
<br /> enfi�rccment af thc li.n: ur(rl urure.1'rom thc huldrr�,I�h�IMII :111 il�`Ill'llll'11I ,ati.t:ua�ry tu l.rnder whurdinating thc lien tn
<br /> this Scrurity In�trumcnt. If Lcndrr Jrtenninc�that sm Eurt uf thc Pn.�xrt� i. .uhjrct t�� a licn ��hirh ma� attain priarit�•c�vcr
<br /> thiti Scrurity intitrttnunt. L.cndcr may givr E3urr����rr a n�eir�iJentif�ing Ihc licn. B��rroa�r,hall +ati.tj•thr lirn or takc onc or
<br /> �norc i�f thr artinn.r act ti�nh.IlklVl`N"IIIIUI �(I lla����t t8� g���ingnt�nuticc. �
<br /> ! Form 3028 9/90
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