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<br />--`� . ' ,��, '.�. ' • TCIGSI'I�R WrTE�Y a11 the'improvemen� noiv or ere�ed_on` =���a�� -
<br /> _ . hereafis;r the Proi�er.ty. ead ali e8semtnts, .
<br /> � � ' $PP�ttensuces,aad fiat�nuw or hereafter a part of the prapertg All replacemente aad eddi�cions shell e�ba covered ` .
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<br /> ;. �f,` ; . . 6q this S.,cu�ity Iuswmen�All o�the foregoiag is re,�errad'to in tbie�ecurity�astrumeatas th�"Prioperrtq.° ,
<br /> , . �' � �" , BORItOWER COVSPTAN'I'S t4zat Horsower is lawiully seis�d'af tke estete herEby coaveyed and�has the�igtit w
<br />_ : " gisat aad conveg the Propeny sad ti:at ihe.Fmperty is uaencu�beted;eacepi for encum6rances of tecflrd.�orco�rer "
<br /> - - ��:,:`. ° warraate aad will defend generallp the title to the Propertq egainst alI claims aud demands,suiij�ct ta aay eac�mbrances --
<br /> . � , � ° . of r�ord. .
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<br /> _ � - .- . THIS SFCURTf Y tNS�'RUMBN'P cosabia��miform a�v�ants for natianal use ead noa-�miform coveaants e�it'� --
<br /> lsmitetl�aaia�ions by gui�ietioa to�tuEe a unifo�securiiy insirument c�vering reat��g$rty, , _
<br />_- , ,. , . UIVIFORM COVENANTS.Bortower and Lend�r coveaant and agree as folloar� . .
<br />- . . . .. l.Payment of Priacipaland Igterest;Prtpaymaat ead Ltte Cbarges.Borrawer s�11 promptly Fay w}�sa dne
<br /> _ � . . thegrsacipal�af aad int�eston th$debt evidanced by the Note aa�aaq PnP$Yment and late c3�arges due uadtr the N�i�
<br />- � ^ 2 Fonds for Ta:es aad InsorsacG Subject to agplicable Iaw or to a written waivar by Leader.$ort8was.s1�.
<br />_ , .: pa$to I.ender on t�ie day ntontlily PaYments are dae uader the Not�,untif the It?ate is gaisi in full,a�tr�n("Ftt�ds')far:
<br /> ($�Year1Y tases aad asse�ments which may attaia psiority over thie Security Ta.strument as a lien ost tdi�Froperty;(b)
<br /> • . yearlq 1easELflld papments or grouud renta on the ProPert9.if aay:(c)Yearly Lazsrd or PmP�MY���p��►s; ~
<br />_ . (d�Year lq�i o o d insurancs Premimas.if anY:(e)Year1Y aiortgage insuraace g�miums,if any;ead 4�)ariy sums�yable �
<br /> . � by Horrower to Lender,in acxoe9dauce with the provisioas of ParagaPh 8,in lieu of the papffient of mortgage is�suraaca
<br /> .. • , , premiums.Th�items are called"Fseraw Iteme.°Leader may,at any tim�.wllect and hold Fuuds in su sat�taQUaE not •
<br /> l � . . . , m exceed the*���t•►um amouut e lender for a fe�erally r�lated mortgage loaa-rnaq reqvire for$orrower's esctoR � .
<br /> = ; � . acc�uat under�e£�ederal Reat Estate Setttement Frocedures Act of 1974 as atnended from time to tisaa. 12 U.S.G
<br />-" �'�" " . Sectioa 2601 et�("RffiPA°1,untes�a.�ottcer law thaE appli�to�s Fuads seLs a i�ser smoun�If r�u;Leadsr may� .� . �' -
<br /> . � , ` . at any time.collect and hald Funds ia an a�ount not to e�ceed the le�r amoun�l.endar inay eatimate tt�emowttaf
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<br /> Puuds dus on the basis of c�n�ent datm aad reasonable estimates of es�enditures of fv'Wre F.scroR Items vr othesaci�e ia. r�'...
<br /> _ _ .._ ,._ . ..... _ accordance with agplicable law... ...... ... ... -
<br /> L'`'_.'_'.:.'"__�_ ., .. ..,. . ._. _.... .._..""" ' .._.__._...._..__... ._ . . , -- '
<br /> � � . The Fuads�all 1se held in aa institutiarx whase deposits are iasured by a f�J agencg n�fa�tmentalit9 �F ; �, .
<br /> . , .ores�
<br /> , . . �_ {including Lend�,if Leader is such an inssti�-tioa)or in any Federal Iivme Loaa ffac�k.LeIIder�atl apply th�Funds w< 'i::r =`
<br /> - :�';° � PaY tlte Fscrovr Items.I,ender may aat charge Bormwer for holding and appl��*�e Fuads.annually st�1y'ziIIg tba;� �.�_
<br /> � ' escrow accoun�or verifying the Escrow Iteme,u�te�In.�der paps BormRer ia�on the Funds aud a�..c�'�fe l�w •� :,
<br /> ,' �., ._ ,.._ --- . : permits Lender to maky�sach a charge: However, Le��er may sequire Borroi�r�o'pay a one^time charge for ets..•;'�: . .
<br /> . ' iIIdepeudent real estate tas reporting service used.by Leader in conaecti.on tvith'this loan,utiles9 applicable 1aw pravides'.::;,; .
<br /> _ ' otherwise,Uatc�aa ageesaent is made nr�plicable taw re�ires iau.y:est to be paid,Lender�5af1 not be required to��::"
<br /> . ` �Il be ud on�:e�Un�ds.E���hall �a�Lbnds.Bc�wer aad�ider may a�in mitiag,however,tBat interest
<br /> . . . ...---- .. P ' �i�e�Eoran.�-e�;�without charge.an ana.�.soeou�iing of the Funds.showing
<br /> cr�edits and debits m the Ftrasi�r,�d ghe L:-.,..-�fc�aLq�esch de6it to the Funds�vas made The Funds ere pledged as�
<br /> additional securitg€ar all su�ssecur�d L��r,�::s Security Iastrumen� ,
<br /> �• I�the Funds L-:Id by.Lei}der esr�t�:amounts permitted to be held by applicabte lawt�der sBa1L account to -
<br /> - • . . Bornuwer for tlis�,.ess Fuads in accor�c�with the raquirements of applicable taw.If the ea:ount of the Funds held
<br /> t : • by I.ender at any time is not suf£icient to pay tha.Escraw Iteme when due.Lender may so notify Borrower in wri�ng� �-
<br /> . . - .`:„- and,in euch ca��orrower shall pay to Lender the amount necessary to make up the deficiencq.Bosrower shaU malce
<br /> . . the defici �`
<br /> . . " - up ency in no more than twelve monthly payments.at Lender's sole discretioa.
<br /> .. �,� Upon paymr�t in full of all sums secured bp tlus Securitq Instrument,Lendes shall psomptly refund to Borrower �
<br /> . � - anp Funds hei� Ir_��Leader. If, under paragraPh 21, Leuder shall acquire or sell tha Property. L,ender. prior to the =-
<br /> • acquisition or�Tr��f the Property,shall applq any Funds held by Lender at the time of acquisition or eale as a c�+edit -
<br />�-.;� . . .:.„ � agais�sc the suma secured by this Security Instrumen� , .. _-=-
<br /> ,, � . �Application oi P�ymeata.Unless applicable law provides otherwise.�11 paqmenLa received by I.euder under �
<br /> � � . . P��Pba 1 and 2 s�all be applied:first.to anY P�Yment charg�due under the IVote;secoqd tv amouate payable .� �
<br /> ' . , ur�der Pas'e�aPb 2:third,to interest due:fourth.to principal due;and last.to any late charges due wzder the Nots. � �°�
<br /> �..._
<br /> . � 4. Chsrges; Lians.BorrowEr sh31t�su�a!1 tases.assessmente,charges,fines and impositiacsa attributable to the ��•':
<br /> '' � . • : Property which may attein priesitg n,�c�•3is Secin�ity Iastrument,aad leasehold payments or ground rente.if aay.. � •'`'
<br /> � . .�. Borrower shall pay these obli�ati�nns ia the maaner provided in paragaph 2.or if not paid in that manner,l�orrower �
<br /> � , � ahall pay them on time dim,ctyy to the person owed paymen�$orrower shall promptly furnish to Lendes a!t matices up
<br /> _"—! �, amounts w be paid under tlus paragraph.I�Borrower makes these pagments directlY.Borrower shall promptly furnish �
<br /> ' . � to Leader receipt�evidencing the papmeats. � -
<br /> . Borrawer c�Jrblf promptly dischatge aag Jien which�ae priority over thia Security Instrument unless Borrower.(a)
<br /> ae
<br /> _>'�' � ; agrees in writing to the payment of the oblig,ation secured bp the lien in e manner acceptable to Lender;(b)conte,ste in
<br /> � ' •• good faith the lien by,or defends against enforcement of the lien in.legal proceedings which in the Lendet's opinion '�';<;�
<br /> �� . � operate 4o prevent the enforcement of the lien;or(c)socures from the holder of the lien an agreement satisPacWry to � '•��`'
<br /> .,. 'u.,
<br /> • . .. � . Lendet subordinating the lien to thia Securi�, Instrument.If Lender determinea that any part o8 the Property ia subject � ' '
<br /> � . . . to a 1ies� which map attain prioritq over tfsis Security Instnrment,Leader may give Borrower a notice identifqipg the �
<br /> � � � ��� lien.Borrower slili satisiq the lien or take one or more of the sctions set forth above within 10 daye of the giving of
<br /> '.{ . aatice. , .
<br /> s , �6RQVEIco=�» F� 301a 9/90 �
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