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<br /> - r�_„r;..yw,.�,{ TOOETHBR WITH all thc improvements now or hem,�ftcr erected on the property.and ull ensementa,appuRenunces, �_ya•�---�---
<br /> , ,L ,,,. -� end fixtures now or hereaftcr s pArt of the pmperty. All replacemenus nnd addidona shnll �Iso be covemd by this Secur(ty —
<br /> . �-�`�`�'r� Instcument. Alt of the faregoing la refemed to ln this Securiry Inspruatent as the"Aroperty."
<br /> •��'{=``4? .`„ BORROWBR COVENANTS that Borrower la lawfully setsed of the estate hereby corneyed and has the dght to grapt —
<br /> '�� and convey tha Properiy and that the PropeRy Is unencumbered,except for encurabrauces of record. Bosower wacrants aad
<br /> r, •,,• .. wlll defend generelly the dde w the Property against all cleims aad demands,subject to any encumbrances of netord.
<br /> A.�...�. . �. ... . .. �ti:`%r�---- .
<br /> -: _...,..- • •� TMS SECURITY WSTRUMEIVT cornbincs uniform wvenunts for natlonal use and non-unlfomt covenanu wlth R------------ --
<br /> � '�'�-1'�';,_���-, limited varladons by jurisdletion to conatitute a uniform secudty insaument covering real prnperty. --
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<br /> • , ' , UNJFORM COVBNANTS. Borrower and I.ender covenant and agree as foUows:
<br /> „ , ., 1. P�yment oi Prindpal and Interesu Prepayment and Lete Ch�rges. Borrower ahall promptly pay when due the �s;:Ygv �
<br /> prfncipal af and interest on the debt evidenced by the Note and any prepayment and late char�es due under the Note. �.'�"=:n;:�u_�_=-
<br /> �; . ..��•;,�.w----
<br /> 2. �nda for T1�xes and Iusurance. Subject to applicable law or to a wrltten waiver by Lender,Boaawer shall pay to :,r,r.__�.�—
<br /> � •� • �� [.ender on the day monthly payment�are due under the Note,until the Note is pald in full.a sum("Funds")for.(a)yearly ,�.u�,�;;;,;_--
<br /> ' „� texes and assessments which may attnin pr�orlty over thls Securlty Instrument as a lien on ttie Properry; (b)yearly leasehold "•-�.�•�;t;,; �;--�
<br /> '�� s ' paymenu or ground rent�on the Property. If any: (c) yearly hazard or praperty insurance premIums; (d) ycarly flood ' '°� S�-^�=�:
<br /> P Y Y Y 8 8 p Y y P Y Y �`�����
<br /> ' - Inaurance ctmlums, if an : (a> earl mort a e Insurance remiums,if en ; and (�an wms a able b Borrower to "-:���i+�� .�..-�:
<br /> ! . �� „ Lender.in accordance wlth the provisions of paragraph 8,in licu of the payment of mortgage insurance premiums. These .�ti�t�;.�R;��',v'�-'�-
<br /> items are called"Escrow Items." Lender may,at any dme,collect and hold Funds in un amowt not to exceed the meximum .' , ,v.,.,.=���
<br /> amount a lender for a federally related mortgage loan may requirc for Borrower's escrow account undu the federal Real _',"==�"""
<br /> „ �� Estatc Settlement Procedures Act of 1974 as amended from t�me to dme,12 U.S.C.§2601 et seg.("RESPA").unless another �'��_`"-
<br /> .�. _. '+ __.._ lew that applies to!he Funds�ets a lesser amoimt If sa i.ender mav,at any time,collect and hold Fundr+in an amount not to `.t:'°`°`-__
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<br /> ' ezceed the lesser �i►ount. [.ender may estimate the amount of Funds due on the basis ot current cieta anc� reasonabie • �'"_-_.__.
<br /> estimates of expenditures of future Escrow Items or otherwise in accordance with appllcable la�v. ,�!�'�_—
<br /> °_ � The Funds sh�ll be held jn an institution whove deposits are insured by a federal agency,lnswmentality,or entity r���^����-
<br /> •_.
<br /> (including I.ender.if Lender is such an institudon)or in any Federal Home Loan Bank. Lendcr shall apply the Fundc to pay ���
<br /> ' � the Escrow Items. L.ender may not charse Horrower for holding and applying the Funds.annuaUy andyzing the escrow � '���•�:,�,:
<br /> �� ° . • account, or verifying the Bscrow Items. unless Lender puys Borrower interest�n the Funds and applicable law permitc ' .;�;��;.=
<br /> Lender to make such a charge. However,Lender may requiro Borrower to pay a one-tlmc charge for an independent real . 'Y'°-'�----�
<br /> • estate uu reporting servtce used by Lender in connection wIth this loan,unless applicnble law provldes otherwise. Unless an �•�}��
<br /> agreement Is made or npplicuble law mquires interest to be paid,Lender shall not be reyuired to puy Horrower any interest or " _
<br /> earnin�s on the Funds. Borrower and I.ender muy agree in wridng,however,that interest shall be paid on the Funds. Lender „'-
<br /> shall give to Borrawer,without charge,an annu�l accounting af the Funds,showin�credits and debits to the Funds and the ��_: .�,
<br /> purpose for which euch debit to the Funds was made. Thc Funds are pledged as addltional saurlty for all sums secured by
<br /> —_ .-=__-_�-- this Secunty i�tsirurnent. =_- _- =.
<br /> • if ihe Funds held by Lender exceed the amounGs permitted to be held by applicable luw, Lender shall account to �� ,;�,�.� ,
<br /> Borrower for the excecs Fundc in nccordence with the requirements of npplicable law. If the amount of the Flinds held by � �:
<br /> • Lender at any time is not sufficient to pay the Bscrow Items when due,Lender may so notify Borrower in writing.and,in ' ' 4��.
<br /> . � such case Borrower shall pay to Lender the amount necessury to muke up the deficicncy. Borrower shall make up the •: i�
<br /> .. • deficiency tn no more than twelve monthly payments.at L.ender's sole discretion. �:- �
<br /> • Upon payment in full of all sums secumd by this Security Instrument,l.ender shall prompdy refund to Boaower any .,
<br /> Fl�nds held by Lcnder. If,uadcr paragraph 21. Lender shall acquirc or scll the Property,Lender,prior to the ucqufsitton or , ' ,l
<br /> • sale of the Propecty, shall apply any Funds held by Lender ut the time of acquisition or sale a,a cmdit aguinst the sums " �„
<br /> secured by this Securiry Instrument. <<'_
<br /> 3. Appllcation of Payments. Unless applicnble luw provide,otherwise, all pnyments received by Lender under �. ; ,
<br /> paragraphs 1 �nd 2 shall be upplied:firs[,to any prepuyment churges due under the Note;seconci,to amounts payuble under j�
<br /> parn�raph 2;third,to interest due;fourih.to principul due;nnd last.to any late churges due under the Note. .;-������
<br /> ° 4. Char�es; Liens. Borcower shull pay ull tuxes, acscssmen�s, charges, fines and impositions nttrlbutable to the '�!�� ''-
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<br /> Property which may attain priority over this Security Insuument, and Icasehold payments or grod�d rents,if aay. Borrower . �!�l.,.,
<br /> shall pay thcse obligations in thc manner provided in paragraph 2.or if not puid in thut manncr. Borrower shall pay them on
<br /> time direcdy to the person owcd payment. Borcnwer shall pr�mptly fi�rnitih to Lendcr uA notices of amoesnts to t+e paid under . .... , _
<br /> , this paragraph. lf Borrower makes the�e payments dircctly, Borrower shall promptly furnish to Lender receipts evidencing f �
<br /> the payments. I .
<br /> Borrower shall pmmptly discharge any licn which has priority over this Sccurity In+trurnent unless B�rrower:(a)agrees �
<br /> . in writing to the payment of the obligation xecurcd by the lien in u munner acceptable to Lender;(b)contests in good faith the � � . -
<br /> .. . lien by,or defends aguinst enforcement of the lien in,legal proccedings which in thc Lender's upinion operate ro pmvent the
<br /> � enforcement of the lien:or(c)secures from the holder of the lien an a�mement sutisfuctory to L.ender subordinating the lien �
<br /> to this Security Inswment. If L.ender determincs that any pan of the F'roperty i,tiubjcct to a licn which may attuin priority �
<br /> ovcr this Security lnswment,Lendcr may givc Borcowcr a noticc identifying the licn. Borcower shall satisfy the lien or take i
<br /> " one or mom of the actions set forth above within 10 days of the giving of notice.
<br /> � 5. Ha7ard or Property Insurence. 8orrower shall kecp the improvement�now exisiing or hercafter encted on the �
<br /> Property insured against loss by fire,hurard,inrluded within the tcrm "extendcd coverage" und �ny other hpzurds,including
<br /> floods or flooding, for which Lendcr requims insurancc, This insurancc shall tx: maintaincd in thc umounts :u�d for thc ;
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<br /> Form3028 9/90 tpuxe2��Jb�wges� .
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