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<br /> -- _ '!'OC9ETH8R WITH all tLo lmpmvemcttEs naw or l�etaitec eroctad�tbe pmperty►aad���a�ea�ena��f�d4�aad
<br /> flxtures raw or hereat�er a pxrt af the prQperty. All npincements and oddiUons slaall also be coyerod by this Sbcudry
<br /> , .���.��� Instntment.Al!�f the faregoing lA referred to 1n this Security Ynstnirncnt as the"Property." '
<br /> BORROWP.R COVBNANTS that Borrower is IQwfully seis.d of the estuto hereby convey�d and iias tha right to,�r;u►t and
<br /> conv�y the Property and tt�at the Property ts unencumbered.exctpt for encumbrances of recoxd.Borrowar wanxnts anal wlll
<br /> defend generaliy the titlo w Ute Property against all claims e�td dcnianda,subject to any cncumbranoes of raard.
<br /> THIS SECURiTY INSTR�JMENT cambines uniform covenants for aational use aced noa-unlform covenants with timlted
<br /> vacistions by judsdIetian ta constitute n uniform saairlty instnunent covering real property.
<br /> -::_______ __ ________� t)N[�F�RM COYHNiANTS.Horcower end I.ender covenant And agree a�€nllows:
<br /> 1. P�yment o!Prineipd nnd IataYat; Pi+epaymc�tt wtd L,ate Ch�uges. Hoaower shall promptly pay when due the �
<br />-= — principal of and intes�.vt on the debt evidenc�.d by tho Noto and any pnepayment sind Iate charges due undar the Nou.
<br /> 2.Funds[or Toxes and Iesw�ttoo. Subject to appUcable law or to a wrltten waiver by I,ender, Borrower shall pay ta
<br /> = — — Leader on the duy monthly payments ure due under the Note.uatil the Note ia paid in tWl�a sum{'Fuads")for:(a)yeazly taxes
<br /> "s? and assessments which may attnIn priority over this Secudty Iastnunent as a lien on the Property:(b)Yc�r1Y lease}told payments
<br /> or�round mntc on the Property,if any;(c)yearly harand or proparty insw�nee pnmiums:td)yearly flood insura�tce pr4miums, ___
<br />' if eny;ie)Yeazly mortgage insurance premiums.if any:aad(�any sums payable by Borrowec to Lender. in aa�with
<br /> 'y the pmvisIons of paragraph 8.in lieu of the payarent of mortgage Insurauce p�emiums. These items are catbed"Esrmw 1[e�s•"
<br /> ,;��� I.ender may,at any time.collect and hald Fuads in an amount not to �xveed the maximum amount a lender for a fecjicrnily
<br />- nlatecl mortgage loan may require for Borrower's escrow account under the federal Rea1 E,��tsite Settlement Procedum��?1ct of
<br /> :�� 1974 os amended from ttme to tima. 12 U.S.C. Section 2601 et seq. ("RESPA"). unless another Iaw tbat applies to the�'uads
<br /> sets a lesser amounf.If so, Lender may,at any tirae, coltect and hold Funds in an amouat nui w exaeed the lesser aaiouat.
<br /> -- I L,ender may esW�te the a►tx�unt of Funds due on the b�is of currern date and reasonablo cxUimatcs af�x�dit»res of future --
<br /> Escrow Items or othenvise in accotdance with applicAbie law.
<br /> 1Y�c Funds sha(I b� held in an institutlon whose deposits are ipsuced by e federal agenry. ins�entality. or entIry
<br /> ` (tacludiqg I.ender.if Lender is such an Instiwtion)or in any Federal Home Loan Bank. L.end�r shall appiy the Funds to psty tha
<br /> Escmw Items. Lender may not charge Borrower for holdins and applying the Funds.annually analyzing the esctow accaum.or
<br /> verifyiag the Escrow Items.unless I.ender pays Botzower intcrest on the Funds and applicable law pemuts b.ender to mslce such
<br /> a charge. However.Lender may crquire Borrower to pay a ane-time charge for an indepettdent real estate tax teporting servIce
<br /> used by Lender in connectIon wIth this loan. unless applicable law pmvides atherwise. Uniess an agreement Is made or
<br />_ applIcable law requlres intsrest to be paid, Lender shall not be required to pay Borrower any interest or earniags on We Fuads.
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<br /> $osower and Lender may agree in writing,howaver, that interest shaU be paid ua the Fuads. Leader shall give to Borrawer�
<br /> " �- �� � w[thout charge.az►annual accounting of the Funds,showing credits and d�bits w the Funds and the purpose for which each
<br /> . _
<br /> � """:',; . deh�t ta ihe f'ur�ds�c�as sstadc.Tlsa Fu�arc plcdgrd as adrl�tia:sal occssdty for s!!�:.ecured�y shis S�suisy�Iasss�.
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<br /> y,--.� If the Funds held by Lender excced the amounts permitted to be held by applicable[aw.L.ender shall account to Bormwer
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<br /> ±==��i'�"'' for the excess Funds in accordance with the requiremenu of applicable law.If the amount oS the Funds held by I.encer at any
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<br /> �.r�;�,,;:� .�„ time is not sufficient to pay the Escrow Items when due.L.ender may so notify Borrower in wriuing.and,in such case Borrnwer
<br /> � '�'��`�`�'-x shall a to Lender the amount necessary to make u the deficienc Borrower shall make u the deficten in no more than
<br /> ,i:y�'n4�r�:. P Y � P Y• P �Y
<br /> ' :�._-'• .-•.�.+ twelve monttily payments,nt Lertder s sole dlscredon
<br /> �.�'r�`��� Upon payment in full of all sums secured by this Security Instrument. L.ender shall promptly refund to Borrower aay `�
<br /> �' ' Furtds held by Lender. If.under paragraph 21.L.eiider shall ucquire or sell the Property.Lender.prior to the acqulsltion or sale
<br /> • � .,.: -
<br /> r• '�•°� �� '�� '� of the Property.shall apply any Funds held by Lander at the time of acquisition or sele as a credit against the sums secured by �-:�
<br /> ,. - . this Securlty Instiument. "_''
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<br /> t �-� 3.Appltcation of Peyments.Unless applicable law provides otherwise,all paymenu received by Lender under para�rap6s
<br /> , .�W.+ ,,._..�::
<br /> ��, 1 and 2 shall be appliaci: first,to any prepayment charges due under the Note: second. to emounts payable under paragraph 2:
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<br /> � y �„ third.to Bntcrest due;fourth.to prinripal due:and last.to any late charges due under the Note. �___�__
<br /> : ,�;�,;;��,,,�,�,;�,t,,� 4.Chwges;Ltens. Borrower shail pay all taxes, assessments, charges, fines and impositions atuibuwble to the Property �_
<br /> „ •: �. ;; - � ,,-:.�. which may attain prfority over this Securiry Instn�ment, und leaschold paymenu or ground renu, if any. Borrower shall pay �:=;
<br /> %% ' , �"='' : these abligations in the manner provided in paragraph 2,or if not paid in t}ut manner,Borrower shatl pay them on time directly y��:.
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<br /> - - • to the pe�son owed payment. Borrower shall prompdy furnish to I.ender all nottces of amounts to be paid under this paragraph. •
<br /> �- `:, " '�=��� � If Borrower makes these payments directl .Borrower shall rom tl fumish to Lender reoei ts evidencin the a ments. �
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<br /> - Borrower shall promptly discharge any lien which hns priority over this Serurity Insuument unless Borrower:(a)agrees in
<br /> .'` ..:ww'�.�, writing to the payment of the obligation secured by the lien in u manner acceptable to Lender;(b)contests in�ood faith the lien
<br /> '�"' by. or defends againss enforcement of the lien in, legal pmceedin�s which in the L.ender's opinion operate to prevent the
<br /> .:� enforcement of the lien;or(c)secures Yrom the holder of the lien an agreement satisfactory t� Lender subordinating the lien to
<br /> :,_;,_;'.;.., ,. this Security Instrument. If L.ender detertnines thut any part of the Propetty is subject to a lien whlch may attain peiority over
<br /> ",, "�� this Security Instrument, L.ender muy give Borrower a notice id�nufying the lien.Banower shal!satisfy the lien ar take one or
<br /> • more of the actions sec forth nbove within 10 days of the givin�of notice.
<br /> �. ��4:: : . Form 3028 8/80
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