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<br /> -�,•.;:..•,,-��,^.�' TOCiETHER WITH all the icnprovementx now or hereaftet erected on the property.und all eu�.emonts.nppurtcmnnses. und �M�_ _— -.-
<br /> �,,,;fs,,;,;,:,y,.,f•_ fixtures now or hereafter a part uf the property. AU repincements and uddiNons shatl atea be cover�xt by thiF Secudty ��J:__ •-;-:�,�
<br /> Instrument. Aq of tha foregoing is rcfermd to in this Security Instrument ns the"Property." �,��;:^:,:___
<br /> � ' ' _ "`�'� BORROWER COV�NANTS thnt Borrower is lawfully seise�of the estute hereby convoyed and hns tfiG r9ght to grant und ����•
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<br /> � wnve the Pro ert and that the Pro ert is unencumbcred. exce t for encumbrances of record. Bc►nQwur warrant�+ and wil! "'''=——
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<br /> -�. defend generally the title to the Property against all claims and demands,subject to any encumbrances af rerord. _=!.�':m,l,�-�'r'- °_
<br /> THIS SECURITY INSTRUMENT combines unifarm covenants for nattonal use und non-unifi�rm covenants with Iimited =�.
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<br /> varietions by jurisdiction to constitute a uniform,erurity instrument cuvering rca!property. _- -
<br /> - - — UNIFORM COVENANTS. Bnrrower and Lendcr covenant and agree ati fotlows: �`=`�� �J
<br /> 1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due the ��-���.�r,�:==_=�="_ "
<br /> � principal of and interest on the debt evidenced b the Note and an re a ment and late char es duo undur the Note. �=�'�--��=`p°�_--- - -_
<br /> y Y P P Y € �urer-.__-_---
<br /> 2. F u n d g f o r T a x e s a n d I n s u r a a c e. S u b j e c t t o a p p l i c abl e law or to a written waiver b y L.end�r. Barcower shall pay to �`�t�F--`�- '
<br /> Lender on the dt�y monthly payments are due under the Note, until the Note is paid in full,u sum("Funds")for:(a)yearly taxes �'',�,."�!;�,.��_,;,;;-�
<br /> � ' and assessments which may attain priority over tliis Security Instrument as a lien on the Property;(b)yearly leasehold payments ►`���'��'�-��'- .. - �--
<br /> �:�-�—
<br /> ' or ground renta on the Property,if an�r;(c)yearly hazard or property insurance premiums:(d)yearly Elocxt insucrinnce premewns, �;��;?t�^'��=---
<br /> . if any; (e) yearly mortgage insurance premiums, if any; and (�any sums payable by Borrower to Lender. in accordance with ;;;����„n,`_
<br /> the provisions of paragraph S, in Sieu of the payment of mongage insurance premiums. These items are called"Escmw Items." '�,�;t�:��;.��_v
<br /> Lender may, at any tune. collect and hotd Funds in an amount not to exceed the maximom amaunt a lender for a fed�ralt• '•' - �
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<br /> > •a�:���rnict:_,'�_
<br /> :,;=i�. , related mortgage loan may require fur Barrower's escrow account under tha fedaral Real �stata Setttement Procedures Act of ' ' ��-----
<br /> .r�#.:_
<br /> .',�„ 1974 as amended from t+me to time, 12 U.S.C.Section 26�1 er seq. ("RFSPA"),unless annthar lt�w that applies to the Fur�ds ,�,�� _
<br /> .•`r f ' sets a lesser amount. If so, I.ender may, at any timo, collect and hold Funds in an amount nat tc�rxceed the lesser amount. �� Y.: - _
<br /> ��t+,E�,��..:��. Lendec may estimate the amount of Funds due on the basis of cuaent data and reasonabfe estimatas of expenditures of future , _S' " --
<br /> ��
<br /> � ' Escrow Items or otiier�tiise in accordartce with applica b le law. � �'� "-��''
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<br /> " " The Funds s hal[ be he l d in an insti tu tion w hose d e p o s i t s a r e i n s u r e d b y a f e d e r A l a g e n c y, i n ti t r u m e n t a l i t y, or entit y • - -
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<br /> F'::'��i':��'•'"r`' (inctuding L.ender,if Lender is such an institutionl or in any Federal Home Loan Bank. i..ender shal!apply the Funds to pay the �t` ����
<br /> I_:•,�,� • ,�...�-
<br /> . Esc ro w Items. Lender mu y not char ge Borrower fur hol ding an d app lying t he Fun ds,annua i fy an a lyzing t he escro w a c c o u n t,o r ' ',"�;"r'e'�:�=._
<br /> verifying the Escrow Items,untess Lender p�ys Borrower interest on the Funds and applicable law permits I.ender to make such ��`°�'• `•J
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<br /> a chacge. However, i.ender may require Borroaer to pay a one-tirne char�e fur an independent real estate tax reporting service :;;_�
<br /> used by Lender in connection with this loan, unless applicable luw provides otherwise. Unlcss an agreement is made or
<br /> , applicable law requires interest tu be paid, Lender shall not be required to Quy Bi�nower any interest or earnings on the Funcls.
<br /> ' Bc�rcower und l.cnder may agree in writing,however, that intem�t sha}1 be paid un the Funds. Lender shait give to Borrower. � �ir'`�_
<br /> without charge, an annuai accounting of the �unds. ,howing cr�dit,u�id udh��,t�i thc :u�d5 aii�i 1iiC �+U:�a:,c for uhich cac:i , - �,r;�>
<br /> debit to the Funds was made.The Funds are pledged ac:�dd�tional security for all sums secumd by this Security Instrument. s�"::`..
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<br /> If the Funds held by I.endcr exceed thc amounts permitted t��be held b}�applicabla luw, L.ender shalf account to Bonower ��,.�:�:
<br /> for the excess Fundy in accordence with the requirements af applicable IaW�. U'the ami�unt of the Funds held by Lender at any " ���1 , -_
<br /> time is not sufficient to pay the Escrow Items K•hen due. Lender n�ay so notii'y Borro�►•�r in writing,and,in such cnse Borrower � ,•��j =
<br /> shaU pay to Lender the amount necessary ta make up the deficiency. Borrower�hu{I make up the deficiency in no more thun , �.• _
<br /> twelve monthly pa��ments,at Lender's solc discretion. , ,'',
<br /> Upon pnyment in full of uU sums secured hy this Sr:rurity Inrtrument. Lendcr �hall promptly refund to Borrower any
<br /> Funds held by L.ender.If.undcr parugraph 21,Lr.nder yhall acquim or�eit the Property, Lender,prior to the acquisition or sale , ,��• �
<br /> • of the Property,shall npply uny Funds held by Lcndcr at the time of acyuisition or wlc as a credit egainst the sums secured by ; �
<br /> this Security Irtstrument. 'i�� :� � ' � �
<br /> 3.Applicallon oY Payments.Unless appticable law pru��ides oihcrwi,r,all payments received by Lxndcr under paragnphs ; ''�;,;•`:.�.� .t-� �`�
<br /> 1 and 2 sha11 be a liect: first,to an re a ment char��e+due under the Note: �econd, to amounts payahle unJer paragraph 2: ,;�,i"�:�;�ti-r
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<br /> thinl, to interest Jue:fourth,to prin�ipal duc:and last,to any latr charreti du�under thc Note. � ," �� � •:"--z_
<br /> . �.Charges: Liens. $orrower tihall pay all taxeti. a>��.�hxntti, rharte�, tines uncl impotiitions uttrihutahle tci th�Property '��."'_ , _ _
<br /> � which mt�y attuin priority over thi� Security Instrumcnt, and icaschold payments or�;round rrnt�. if any. Borrow�er shall pay �:� �:� ��
<br /> �;�;'..•� �,—
<br /> ;, these obligutions in the manner provided in paragr:iph?,or if nut paid in th,�t manncr. Burru�vcr tihall pay thcai on time dimctly ; .:�;
<br /> to the persan u���ed paymrnt. Borruwrr tiliall promptly furoish tu I.cndcr ull n��ticr���f am��unt�to hr p�iid ua�er thiti paragraph. � a�_'r
<br /> (f Bormwer makes these payments dirertly.Borrc�u•er+nall prompdy furni�h to lAnder reccipt.evidenring the payments. • � �T�
<br /> ,.,�;•� . ,
<br /> &�rrowcr shall prompAy dischurgc any t�rp.vhirh ha+priur+ry c��•cr thi�Srcurit} imtrumrnt unlc.�Bcirru��•er:tal agrcc.in •(�. • •
<br /> + writing tu the payment uf the obligution scrureci by thc li�n m a rnanncr a�ceptable t��1_ender, lhl rontrtits in guixl t'aith th�lirn � ',,�,;',:: � .`��-.�#•;-
<br /> ,� by, or defends against enti�rce►nent of the licn in. Irgal prorceJ�ng. �vhirh in the Lendcr'. upiniun ���xrate tu �+re�•ent the ' ",��-
<br /> enforcement of the lien: ar(r1�crures from ttie holdcr i�f the IiCn an��:reement�ati.fartor� t��L�nder whurdinating the lien tu f f'�±
<br /> this Security In�trument. If Ixndcr dctrrminr�that:im pan of tiic Prrprrt} i> +uhjcrt tu a lirn ��hi�h ma� auain priority u�•er ,.-�,
<br /> � � ' this Sccurity [nstrununt. IAnder may gi��r BorruHCr a nutirc iJrntitj•ing thc lirn. Rorn,�.cr�hall .ati,f� thc lirn�,r ta�,c unr��r • •-!
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<br /> : ;;.,r�....: nwre of thc actiom set forih abuve��ithin 10 day�of the gi�mg o(nutire. ,
<br /> . , form 3028 9/90 '�-
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