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<br /> TOQ�TNER W[Tf� al!tho impravementa now or hsreaftet ereeted on 11to praperty.and ail c�scmcnt.r•,appivt[crnnccs.uxi
<br /> �--�-�— �x�urts �ww an c�tr,�ftar a part af tice pra�erty. Al1 ecplacen�e�ne und additians shall ul,a Uc cnvcr�� t�y this :Security
<br /> Instrurr�nt.AU a�f the furcyoing Is refcrred to in thi.s Security lnstrumcnt as tttc"1'�aperty."
<br /> 80RRO�dBA CAVENAIVT3 thRt Borrower i91�wELlly seised i�f the estata hereby conv¢yod aM ha�the dght to grant u�d •
<br /> somcy thc Pr�erty and that 1he I'ropetty is unencumbzrod.exccpt far encumbra�x�s of rocard. R�rrower warrunts atx4 will
<br /> defrnfl grnerdfy the title!o the Prqxrty aguiast ell al�ims�uxl detnat�da,sttbject to any sncumbra�ces of'record.
<br /> �__ ,
<br /> THIS S�CURITY INSTRUMENT combines unifiarm cnvenunts for natIonal use and non�uniform covenunts with limital
<br /> v�rtwions 6y jurlsdictton to eonstitute a uniform sxwity lnstrument cavarFng r�al praperty �. ��
<br /> UNIFORM COVBIVANTS. Bomswer and Lender covenant at�d agi+ee as follaws:
<br /> Y. Paymesit of J�rindpal�nd Iaterrstt �py��t iutd I.ate Chs�rges. Borrower shnll promntly pay whrn due the —
<br /> ptincIpal of and interest on the debt evtdenad by the Note and any pmpayment smd late charg�s dus under tho Nac.
<br /> �. �t+nds for Taxes�and In�urance. Subject to appiicuble law or ta a written wniver by Lcader. Borrower shall pay to
<br /> Lender on thc duy monthly puyraenus are due under the Note.until the Nate is pald in full.a sum("Funda")for:(a)yearly taxe,v
<br /> -�� and assessments which may nttain prtority over this SecurJry Insuument as a tien on she Property:(b)yeariy leasehold paymeuta
<br /> or ground rents an the Praperty.if any;(c)yearly hawnd or property insuranoq pnmiums:(d)yeurly flood insuranoe pc+cmiwns.
<br /> if any: (ey Yearly mortgnge insurance pmdiiums.if c�ny;nnd(�aay awns pay�+bla by Bornnwer to L,ertder. In ac�cordana wlth
<br /> t6c provisions of paragraph 8.in lieu of the payatent of mortguge trtsurnnoe prsmiums.These Items nre r,alled"Escruw Iums." '
<br /> I,ender,may, ut any tim�,collxt and hold Funds in an umonnt noi to exceed tlus maxjmum amount n Iender for a fcdemlty
<br /> re[ated mortgage loan may requin for Borrower's escrow account under the federal Real Estsue Se¢tlement Proceclures Act af
<br /> �---------- --- � i974 Ps Amencled frum�me to time, 12 U.S.C.Sectioa 2601 et seq.("RESPA").unless anotl►er law that applFes to the Funds
<br /> scte u lesscr amount. If so,Lender mt►y, At any Nma, wllect and hold Funds in an amount not to e.taeai the lesser amouttt.
<br /> Lender may estjmate the runount of Funds due on the basis of cuirent data and reasonable esdmate.c of exp�endltures of feture
<br /> Escrow Items or otherwise in accordance with applicable luw.
<br /> The Fu�s shall be held in an institudon whose deposIts are insured by a federal ageacy. Instrumentality,a�r entity
<br /> (iacladin�Lender,if l.ender is such rin insutution)or{n nny Fodera!Hame I.oan Bank.Lender shal!apply the Funds ta pay the
<br /> Escrow Items.I.ender m:�y not charge Borrower for holding and npplying the Fuads,annually analyzing th�escrow acoaunt.ar
<br /> — verifyin�the Fscrow items,unless Lender pays Bflrrower interest on the Funds and applicnble law permlts Lender to make auch .
<br /> a churge. However,L.endcr may requ�re Borrower ta pay a one-time charge for an independent real estate tax reporting servlce
<br /> — — used by I.ender in connection with this lonn. unles.g epplicable law provIdes othenvise. Unless en asm�ement is made or
<br />_ -- appl3cable luw requires interest to bc paid. Leuder sh�ll not be required to pay Borrower any interest or earniags on th�Funds.
<br /> —_ _ - Horrower end Lender roav a�ree in writinR.however,ttiat interest shall be paid on the Fuads. L�nder shall give to Borrower.
<br />� without charge. an annual accounting of the Funds�showing credits and debits to the Fuuds and the�urpose for which each =
<br /> �,I debit to the Funds was rtfade. The Funds are pledged as addttional security for all sums secured by this Se,curity Instrument.
<br /> if thc Funds held by Lender exceed the amounts permltted to be held by applicable law, Lender shail�ecount to 1Ror�ower '
<br /> for the cxcess Funds in aaordance with the requ�rements of appticable law. If the amount of the Funds hcld by Le�der at any
<br /> time is not sufticient to pay the Escrow Items when due.Leader may so notify�rrower in wridng,and.in such case#iorrower .
<br /> shall pay to Lender t�e amount necessary to mra�ce up the deficiency. Borrower shall make up thc deftciency in na mQre than
<br /> twelve monthly payments,at[.ender's sole discretion. '
<br /> Upon payment in full of all sums scxured by this Security Instrument. Lender shall prompily refund to Bozrower nny
<br /> h 21 nder shall a uire ar sell the Pro ,Lender, rior to the acquisidon or sale __
<br /> Funds held by Lender.if,under parngrap . Le cq PertY P
<br /> . .
<br /> of the Property, sh�ll apply any Funds held by I.eader at the time of acquisition or sale us a credit agu�nst the sums secured by
<br /> this Security Instrument.
<br /> 3.Application otP�ayments.Unless applicable Iaw provides otherwise.xll payments receiveci by I.ender uttder paragraphs
<br /> I and 2 shall be applied: ftrst,to any prepayment char�es due under the Note; second,to amounts payable under paragrnph 2; —
<br /> third,to interest due:fourth, to principal due;und tast,to any late churges due under the Note. "�`
<br /> 4.Charges;LieaB. Borrower shall pay all taxes, :�ssessments, churges, 8nes and impotiitions attributable to the�toperty —
<br /> which may attain priority over this Security Instrument, and le�sehold payments or ground renu, if any. Borrowet ahall pay
<br /> these obligations in the manner provided in paragraph 2.or if not paid in that mt+nner.Borrower shall pay them on time directly �
<br /> ga
<br /> to the person owed payment. Borrower shall promptly furnish to Lender all notices nf nmounts to be paid under this p�aagraph. �ti�
<br /> �'� If Bormwer makes these payments direttly.Bonower shall promptly furnish to Lender receipts evidencins the paymems. F�G-
<br /> _,�.�,�,�,,A.�
<br /> Borrower sh�ll pmrnptly discharge any lien which has prioriry uver this Security Instrument unless Borrower: (u)agrees in "�
<br /> — --_ -__— writin�to the paymem of the obligation cecured by the lien in a manner acceptable to Lender: (b)contests in good faith the lien
<br /> ' `� by. or defends against enforcement of the lien in. �e�al praceedings which tn the Lender's opinion operate to prevent the
<br /> ;.i enforcement of the lien; or(c)secures from the holder of the liert un ugreement satisfactary to Lender subordinating the licn to ,•
<br /> ,,� this Security instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over
<br />. l this Security Instrument. Lender mny give Borrower u nntice identifying the lien.Borrower shall sntisfy the lien or take one or
<br /> mone of tlie actions set forth above within !0 dAys of the giving of notice.
<br /> ,� .
<br /> Form 30Z8 9/80
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