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<br />- TOGE7'HEIi WITH all the impro��cmcnts notv�r E�creafter crectcd on the praperiy,and nll cnscmcnts,nppurte�ianc�s,
<br /> , iin� lixtures norv on c�rcaftcr u part of thc pPaperty. Alfl r���lncemc�tts�utcl additimts cl�all also b�cavci•cd by tbis S�curety
<br /> „ Instc-umcnt. All of thc forcgof�i�;is rcfcrrcd tn in ti�is Sccuii�y (nstrumcnl ns thc"Prnn:rty."
<br /> ; BORRONJ6E2 CnVENANTS that�orrowcr is It!�vfully se�scd�f ihe estate hcr�by convcycd nnd hns thG riyht to gt�ant =-
<br /> - . and convr.y the Praperty and diut the Property is unencumbered,except for encumbrances of record. Dorrawer v�urrants n�d ,��
<br />�_.;�,"� will defend generally the dde m the Property ngninst nll claims nnd damnnds,subJcct to nny encumbrances af record.
<br /> THIS SECURITY INSTRUMPNT comb3nes unifo►m covenunn for national use and non-uniform covennnts �vith �_.:;:.:
<br /> limited variutions by jurisdiction to constitute a uniform securiry instrument covering real propeny. ` -
<br />�"'�' UNIFOFM COVENANTS. Horrowcr nnd Lendcrcavcnant and ngr�c as follows:
<br /> 1. Payment of Principnl nnd Interesh,Prepnymrnt nnd Late Churges. Borrower shull prompQy pay whcn duc the -_
<br />- principnl of and interest on the debt evidenced by the Note nnd any prepayment and late charges due under the Note.
<br /> • I. I�unds for'il�xes And Insurance. Subject to npplicable law orto a written waiver by Lender,Bonower shall pay to --
<br /> Lender on the day monthly payments:uc due under thc Note,untit the Note is paid in full,a surn("Funds")for: (a} ycarly __-
<br /> , taxes and assessments whicii may attain prioriry ovcr this Security instmment as a lien on the Property;(b)yearly lease6�old --�
<br /> payrnents or ground rents on the Property. if any; (c) ycarly hnzard or progerty insurance premiums; (d) yenrly flood �
<br /> insurance premiums, if any; (e} yearly murtgage insurnnce premiums,if any; and (� miy sums payable by Bortower to ['
<br /> , L.ender, in accordance wit�i the provisions of paragraph 8,in lieu of the payment of mortgage insurance premiums. These =
<br /> itcros arc called"Escrow Items." Lender may,at any time,collect and hold Fl�nds in an amaunt not to excecd the maximum �±�
<br /> rr:�-_
<br /> amount a lender for a fcderally related mortgage loar�rnay require for Bonowcr's escrow account under the federal Real ,��,,,
<br /> � Estatc Settlement Peocedures Act of 1974 as amended from time to time,l2 U,S.C.§Z601 et seq.("RESPA"),unless another =
<br /> law that applies to the Funds seu a lesser umount. If so,Lender may,at any time,collcct and hold Funds in an amount not to -- —
<br /> exceed [he tesser a�nount. Lender niuy estiinate Q�e wnount oi Funds due on d�e basis of current data and reasanable =-
<br /> estimates of expenditures af future Escrow Items or otherwise in accordance with applicnble law. ���'_
<br /> The Funds shaU be hcld in an institution whose deposi4c arc insured by a federal agency, insaumentality, or entity --_=
<br /> (including Lender,if Lender is such un institution)ar in any Federul Home Lotin Bank. I.ender shull apply the T'unds ta pay ��.��,_,;
<br /> the Escrow Items. Lender may not charge Borrower for holding and applyins Ute Funds,annually analyzing the escraw "°�
<br /> � nccount, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and applicable luw�permits �?"�`
<br /> � , Lender to mnke such a charge. However, Lender may require Borrower to pay a one-ume charge for an independent real •'�`'
<br /> �F:•���:
<br /> • �,����° estate tax reponing service used by Lender in connection with this loan,unless appltcable law provides otherwise. Unless an -�i��r
<br /> � • • Agreement is made or applicable Ittw rcquires intcrest to be paid,Lender shall not be required to pay Bonower any interest or ?y::`=
<br /> enmings on the Funds. Horrower und Lender may agree i n writin�,however,that interest shall be paid on the Funds. Lender ;,�;;°
<br /> • shall �ive to Borrower,witbout charge,an annual accountin�of the Funds,showin�credits und debits to the Funds and the �`..-
<br /> •• purpose for which each debit to the Funds was made. The Funds ure pled�ed as additional security for all sums secured by
<br /> ' this Securit instrument. �'"''
<br /> ----- - �' F':=-
<br /> . -- If the Funds held by Lender exceed the amounu perrnitted to be held by applicable law, Lender shall account to `
<br /> Borrower for the excess Funds in accordance with the requirements of applicable Inw. IC the umount of the Funds held by �,°:.:�.
<br /> . Lender ut uny time is not sufficient to pay die Escrow Items when due,Lender may so notify Borrower in writing,and, in
<br /> such case Boaower shall a to Lender the amount necess• to rnake u the deficienc . Borrower shall make u the ��A�4
<br /> . P Y �Y P Y P C�'��-_;
<br /> , deficiency in no mon than twelve monthly payments,at Lendere sole discretion. �;,;
<br /> - Upon payment in full of all sums secured by this Securiry Instrument.I.ender shnll promptly refund to Bonower uny ..��.'
<br /> Funds hcld by Lc�ndcr. If, undcr paragraph 21,Lcndcr shall Ucquirc ur scll thc Properry, Lendcr,prior to thc acquisition or ,';,:-`
<br /> ' sale oi the Property, shall upply any Funds held by Lcndcr ut the tinu of ucquitiition or tiulc as u credit uguinst thc sums �
<br /> secured by this Security[nstrument.
<br /> 3. Appltcation oP 1'ayments. Unless applicublc law prcwides otherwisc, :dl puymcntx rcccivcd 6y Lcnder undcr ---
<br /> paragraphs 1 and 2 shall be applied:first,to any prepayment churges due under the Nc�te;second,to amounty puyuble under
<br /> paragrnph 2;third,to i�ucrest duc:fourth,to principul due;and last,to uny lutc chargcs duc undcr thc Notc.
<br /> 4. Charges; Liens. Borrowcr shaq pay all tuzes,assessments,chargcs, fincs and impusitions auributuNlc to thc
<br /> ' Property whirh may attain priority ovcr this Sccurity Instnmcnt, And Icasehold payments or ground rents, if any. Borrower
<br /> °� shull pay thesc obligations in thc mamier provided in paragraph 2,or if not paid in that manncr,BoROwcr shull pny them on
<br /> • time dircctly to the persan owed payment. Bortower shall Fromptly furnist� to Lcndcr�ill notices of amoun45 to be paid under
<br /> this paragraph. If Borrower makes these payments directly, Borcower shall prompdy fumish to Lender receipts evidencing
<br /> thc paymenGs.
<br /> Borrower shall prompdy dischazge any lien which has priority over this Security Inswment unless Borrower:(a)agrees
<br /> in writing to th�payment of the obligation�ecured by the lien in a manner acceptable to Lender;(b)contests in good faith the
<br /> lien by,or defends against enforcement of the lien in,legal proceedings�vhich in the Lender's opinion operate to pmvent the
<br />' ,-, enforcement of the lien;or(c)securcs from the holder uf the lien an agreement satisfactory to Lender subordinating tlie lien
<br /> • to this Securiry Inswment. If Lender determincs that any part of the Property is subject to a lien which may attain priority
<br /> � ,. ovcr this Security Inswment,Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the licn or takc
<br /> one or more of the actions set forth above within 10 days of the giving of notice.
<br /> . �, 5. Haznrd or Property Insurnnce. Borrower xhall kecp the improvements now existing or hercaftcr crected on the
<br /> Property insured ugainst loss by fire,hazards included within the term"extended coverage"and nny other hazards,including
<br /> floods or flooding, for which Lender requires insurance. This insurance shall be maintained in the nmounts and for the
<br /> t
<br /> ' Furm 302£t 9/90 (page 2 oJ6 puge•s)
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