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<br /> 94- 104691
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<br /> TOGFTIIF.R WITH all the improvements now or hereafter erected on the property, and all casements. appurtenances., and
<br /> fixtures nc)w or hereafter a part of the property. All replacement.. and addition shall also be c"ered by this Sccurity
<br /> instrut-&nt. All of the foregoing is referred to in this Security Instrument as the "Property."
<br /> BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and
<br /> convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrow+,!r warrants and will
<br /> defend general±y the title to the Property against all claims and demands, subject to any encumbrances of record.
<br /> THIS SECURITY INSTRUW*,NT combines uniform covenants for national use and non-uniform covenants with limited
<br /> variations by jurisdiction to constitute a uniform security instrument covering real property.
<br /> UNIFORM COVENANTS. Borrower and gender covenant and agree as follows:
<br /> 1. Payment of Principal and interest; Prepayment and Late Charges. Borrower shall promptly pay when due the
<br /> pr iacipal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br /> 2. Funds for Taxes and Irxsurance. Subject to applicable law or to a written waiver by Lender. Borrower shall pay to
<br /> Lender con the day monthly payments are due under the Note, until the Note is paid in full, a sum ("Funds') for: (a) yearly taxes
<br /> and assessments which may attain priority over this Security Instrument as a lien on the Property: (b) yearly leasehold payments
<br /> or ground rents on the Property. if any; (c) yearly hazard or property insurance premiums: (d) yearly flood insurance premiums.
<br /> if ary; (c) yearly mortgage insurance premiums, if any; and (f) any sutras payable by Borrower to Lender, in accordance with
<br /> the provisions of paragraph S, in lieu of the payment of mortgage insurance premiums. These items are called "Escrow Items."
<br /> Lender may, at any time, collect and hold Funds in ar. amount not to exceed the maximum amount a lender for a federally
<br /> related mortgage loan may req-jire for Borrower's escrow account under the federal Real Estate Settlement Procedures Act of
<br /> 1974 as amended from time to time, 12 U.S.C. Section 2601 et .req. ("RESPA"), unless another law that applies to the Funds
<br /> sets a lesser amount. If so, Lender may, at any time, collect and hold Funds in an amount not to exceed the lesser amount.
<br /> Lender may _9titrnatc the amount (if Funds due ov the basis of current data and reasonable estimates of expenditures of future
<br /> Escrow Items or otherwise in accordance with applicable law.
<br /> The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity
<br /> (including Lcndcr, if Lender is such an institution) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the
<br /> Escrow ltcros. Lender may not charge Borrower far holding and applying the Funds, annually analyzing the escrow account, or
<br /> verifying the F_ser.)w Items, unless Lender pays Borrower interest on the Furls and applicable law permits Lender to make such
<br /> a chrcrgc, However, Lender may require B)rrower it) pay n one-time charge for an independent real estate tax reporting service
<br /> asst'. by Lmlcr in connection with this loan, unlcss applicable law provides otherwise. Unless an agreement is made or
<br /> applicahle law requires interest to be paid, lender shall not be required to pay Borrower any interest or earnings on the Funds.
<br /> Bob rn%cr and Lender may agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower;
<br /> teilhout charge, an annual accounting of the Funds, showing credits and debits to the Funds and the purpose for which each
<br /> debit to the Funds was nutdc. The Funds arc pledged as additional security for all sums secured by this Security Instrument.
<br /> If the Funds held by Lender exceed the amounts permitted to be held by applicable law, Lender shall account to Borrower
<br /> for the excess Funds in accordance with the requirements of applicable law. If the amount of the Funds held by Lender at any
<br /> tirr`.x is not 'ufficlent to pay the Escrow Items when due, Lender may so notify (Borrower in writing. and. in such case Borrower
<br /> xhnll pay to L crwlcr the amount necessary to make up the deficiency. B•arrowcr shall make up the deficiency in no more than
<br /> twelve monthly payments. at Lender's sole discretion.
<br /> Upon payment in full of all sums secured by this Security Instrument, I.cnder shall promptly refund to Borrower any
<br /> Fundy held by L,cnclcr. If, under paragraph 21. Lender shalt acquire or sell the Property. Lender, prior (t) the acquisition or sale.
<br /> of the Property. shall ag)ply any Funds held by Lender at the time of xcquisilion or sale as a credit against the sums w-cured by
<br /> this sw~~ instrunent.
<br /> :3. Applicatis-P of Payments. Unless applicable law provides otherwisc, all payments received by l..cmulcr under paragraphs
<br /> I artd 2 shall be applied: first, to any prepayment charges due under the Note; sccoml, to amcwnis payable under paragraph 2.
<br /> third, to interest due; fourth. to principal duc: and last, to any late charges clue urddcr the Note.
<br /> 4. C"hamcs; !.lens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property
<br /> which ntay attain priority over this Security Instrumcnt, and leasehold payments or grtdnnd rents, if any. 1orrower shall pay
<br /> these obligation% in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on time directly
<br /> to the, p,:ru)n owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph.
<br /> If Borrower makes these payments directly. Borrowcr shall promptly furnish to Lender receipts evidencing the payments.
<br /> Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agreca in
<br /> writing to the payrnent of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien
<br /> by, or dcferxds against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the
<br /> cnforccmcnt of the lien: or (c) secures frrtm the holder of the lien ar, agreement satisfactory to Lender subordinating the lien to
<br /> this Security Instrument. If Lcruler determine. that cry part of the Prnpcrty is subject to a lien which may attain priority over
<br /> thiw Security !nvntnrent, Lemle.,• may give Borrnwrr a notice identifying: the lien. Borrower shall satisfy the lien or take one or
<br /> more ttf the actions wi forth abo,we within 10 flays (•f the giving of notice
<br /> Farm 3028 9190
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