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<br /> mt�[iir�4nrc�oow o�Il::t:;��'i;Y il yl:lii O�(�IJ(;;u�i.:riy. /!Il rc.til�:�;;;i��::;it�:��td t:itstlt�.sias��liall i!Iso b�cnvc;���b;/ tliir: Scc�a�lry sY, -
<br /> Instiutnc�zt. All uf Ihe fasegoln�is rcfcrre�f to ia this Sccurity Inst[uir�ent a�Ii�c"i�rcijx:rty.'
<br /> 13C)T�itl3Wt?R CUV�iVAN7'S Bi1t Fiarruwcr is Inwfully sciscd nf ditc estate hcrcbv Guiweycd nnd hay thc rlgl►t to grant
<br /> �n�canvty tht Property snd Iliat the Prapeny is unencumbered,exccpt fa�r encuirebrancev oi'recnrd. F�crruw�r wurran�s nnd
<br /> wiit dcfcnd generally thc title to the Pr�r�cr�y aQninst atl clnims nnd dcnzands,FubJect to any cncumbrcmccs of rec:ord.
<br /> THIS SECURITY tNS'Cl2UM��V i' combincs unifunn cuvet�u��ts fur uatiu�ial us�; r.��d non-uniform cavcnants ���itl► _
<br /> limited variations by judsdictloa�to constitute a unif�r+n ucarity instn�mcnt covering reul propecsy. _
<br /> UlVIFORM COVFsNANTS. Ciorrawer and Len�lce covcnant nnd ngrec ns folDaws;
<br /> 1. P�►yment n[Pr[�pal and Inte►�st;Prep�yment end Gwte Q:hwrges� Aorrowcr shali promptly p�y wlien duo the
<br /> principal of an�l interest on die debt evidenced by the Nate nnd any prcpaym�nt and fate ch:►rges due under tho rlote.
<br /> 2. F�nds fAr 73oxts pud It►stusAnce. Subject to applicable la�v or to n written walver by Lender,Hoaowcr�hall�ay v�
<br /> [.cnder on the d.�►y month:y payments are d�e under Uie Note,until the Note is patd in full,a sum("Fl�nds") for: (n)yearly
<br /> tnxes and nssessments which may nttnin priority over this Security Instrument as a lien on�he Pcoperty;(b)yearly leasehotd
<br /> pnyments or ground nnts on the Propeny, if any; (c) yearly h�ztitd or pro�Crty ��surance premfums; (d) ycazly flo«i
<br /> insurance premiums, if nny;(e)ye.lrly mortgnge insurnnce premiums, If nny; :u�d (� any sums pnyable by 8asrower to
<br /> Lender,in accordunce with ihe provisIons of p:uagrnph 8,in lieu of ttie payment of mflrtgage insumnce premiums. These _
<br /> items are called "Escrow ltems." Lender may,at any tin�e,callect und hold Funds in un amount not to excecd the m;+ximum __
<br /> umount a ler.der for a fedcrally rclated niortguge loam m�y reyt►ire for Borrower's escrow accouut under the feder�l Real
<br /> Estata 5ettlement Procedares Act of 1974 as amended from time to time. 12 U.S.C.§2601 et scq.("RESPA"), unless another
<br /> Iaw that applies tn the Punds sets a lesser u►uount. If so.Lcndcr may,at any time,collect and hold Fands in�n amount not to � __
<br /> exceed die lesser umount. Lender may estimate the amount of Funds due on the basis af cwrent data and reasonuble `� ;
<br /> cstimntes of expenditures of future Escraw Items or otherwise in accordance with applicubpe law. _�_
<br /> The Funds shall be hcld in an institudon whose cleposits arc insured by a fcderai ngency, insttutnentaliry, or endty ��-;_
<br /> (including Lender,if E.ender is such an insutuuon)or in any Federal Home Loan Bank. Lender shall npply thE Funds to pny -
<br /> the Fscrow Items. Leuder may noY charge Borrower for holding and applying the Hlmds, unnually analyzin�the escrow _ __
<br /> account, or verifyins the L'scrov� Items, unless Lender pays Borrower interest on the Funds and applicable law p�:rmits �:!�l�
<br /> Lendcr¢o make such a charge. However.E,ender may requlce Borrower to pay a one-time churge foa an independent rcal _
<br /> estate tax reporting service used by Lender in connection with this toan,unless applicable law provides oilienvise. Unless an —
<br /> ngrecment is made or applicable law rcquires interest to bc puid,Lender shnll not be required to pay Borrower any intcrest or �_;;
<br /> camings on the�nds. Ba►YO.ver and Lender may agree in wdting,however,thnt interest shall bc paid on the Funds. Lender �;:�
<br /> shall give to Horrower,without charge,an annual accounting of the Fl►nds,showing credits and debits to the Funds and the P�rr;.
<br /> Q,.�-�.
<br /> gurpose far wluch each debit to the Funds was made. The Funds are pledged as addition.�l securiry for ull sums secured by �_
<br /> this 5ecurity insuument. __ _
<br /> If the Funds hGld by Lender exceed tlie amounts permitted to be held by npplicable luw, Lender shall account to —
<br /> Borrower for ihe excess Funds in accordance with the requircments of applicable law. If the amount of the F1�nds held by �..-
<br /> Lender at any time is not sufficient to pay the Escmw Items when due, Lender may so notify Borrower in wriu►eg,and,in =__
<br /> such case Borrow�r shpll pay to Lender the amount necessary to make up the de�cicncy. Borrowet shall make up �he __
<br /> deficiency in no morc than twelve monthly payments,at Lender's sole discretion. ��=-
<br /> Upon paymeut in fuU of nll sums secured by this Security Instrument. L.ender shAll promptly refund to Dorrower any `.F;°
<br /> Ptmds held by Lender. [f,under paragraph 21,Lender shnll Rcquire or sell t�e Property,Lender,prior to the acquisidon or �s>%
<br /> sale of the Praperty, shall npply any Fund.s held by Lender nt the time of 3cquisition or sale as a credit against U�e sums i.
<br /> ser-ured by this Securiry Instrument. ���;
<br /> 3. Appl[cution of Pnyments. Unless applicuble law provides otherw•ise,all puyments received by Lender under .
<br /> para�phs 1 and 2 shall be appl[ed:first,to any prepayment charges due under the 1Vote;second,to amounts payable under
<br /> para�rnph 2;third,to intemst due;fou�th,to principal due;and last,to any late charges due under the Note.
<br /> 4. Charges; Llens. Borrower shall pay all taxes, assessments, charges. �nes and impositions attributnble to the
<br /> Property which may attain priority ovcr this Security Instmment,and leasehold payments or ground rents,if any. Borro�ver
<br /> shall pay these obligations in the manner provided in parngrnph 2,or if not paid in that manner,Borrower shall pay them on
<br /> timc directly to the person owed payment. Borrower shall promptly furnish to Lcndcr all notices of amounts to be p�id under
<br /> this paragraph. If Borrower makes thesc payments directly,Borrowcr shali promptly fumish to Lendcr receipts evidencins
<br /> thc payments.
<br /> Horruwer shall promptly dlscharge sny lien which has prio�ity over this Security Inswment unless Borrower. (o)agrccs -_
<br /> in writing to the payment of the obligation secured by the lien in a mnnner ncccptabie to L.ender;(b)contests in good faith the
<br /> lien by,or defent�s a�c�i�st epforcenient of the lien in,le�al proceedings�vhich in the Lender's opiniott operate to prevent the
<br /> enforcement of t5e lien;or(c) secures from the holder of the lien un ngmement satisfactAry to Lender suborclinating the lien
<br /> tn this Security Inswment. If Lender deter�nines that any part of the Property is subject to a lien which muy uttain prio:ity
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<br /> over this Security Instrumer:,Lender may give Borrower n notice identifying the lien. Bonower shall sadsfy the lien or take
<br /> one or%ore of the actions set forth above within 10 dnys of the�iving of notice. „
<br /> 5. Huzand or P�»perty Insurnnce. Bon�awcr shall kecp thc improvements now existing or hercaftcr crected on the
<br /> Pcaperty insuried asainst lass by�re,hazards included within die term"extended coverage"and any other hazards,incli�ding
<br /> floods or flooding, for which l.,ender rcc3uires insurance. This insurance sltull be maiatainecl in tlie amounts and for thc
<br /> Ebnn 3028 9/90 fpaBe 2 oj6 poges)
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