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<br /> •:-:•�.. °' .. TOGETHEFt WRH�alll the improvements aaw or`6ereafter erected on the pr+nperty,and alf easeqients.appuitenances.and
<br />-- . • `� .- - fixtures nnw or hereafter a part of the propetty. All replaeem�nts and additions shall atso be mvered by this Security �
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<br /> � � ' •. Instrucntnt.All of the fore�oing is referred to in this Security mswment as the"Property."
<br /> '' � r, SORRO�'VBR COYENANfS that Horrower is IawfuUy seised of the estate hemby rnnveyed and has the right to grant and :
<br /> � , oonvey the Froperty�d that the Property is unencumbered.except for encambraaces af record. Borrawer warrants au�wiil
<br /> ' . . . defend ger��alty the 6tle to the Praperty against all claims and demands.su6ject to any eacumbrauoes of recax�i. .
<br /> : - 'FHIS SECURiTX iNS'fRUMENT combenes uniform covenants for national use and non-uniform covenants u+ith limited '
<br /> - r.. . ' �.:. .-�.�: variations by jurisdi�tion w corutitute a unifarm securiry insuumem coveriog real property. .
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<br /> _=�= tTNt�P•M COYENAN'FS.Bassovrer and Lender covenan!aad agree as fotlows:
<br /> . ` � 1.Ft�yment of Pcindpaf and Interesi; Prepaymeat and Late Ci�aiges. Eorroaer shall prornpUy pay when due the
<br /> � r -• � ` principal of and intetesi on the debt evideaced by the Note and any prepayment azui.late charges due under d�e t�Tote. . .
<br /> - � � ' ' — �.Fundg fos Taxes aad Insarance.Subject ta applicable!aw or to a written waiver by LRndzr, Borrower shall pay ta .
<br /> . � . ' � � Le�er on tfie day mnnthly paymenu are due under ihe Kote,unu'I the Note is paid in fuU,a s�lm('Funds')for.(a)yearly�
<br /> � �� � and assessmenu�vhich may attain priority over this Security Instniment as a lien on the Property:(b)yearly tease6oId paymerits
<br /> • ' � or gmund rents on the Properry.if any:(c)Yearly hazard or property.insurance p�remiums:(d)Yearly floud insurance premiams.
<br /> � • . • � if aay:(e)Year1Y mortgage insvrance premiums.if any:and(�anY sums PaYabte by Borrower to Lendee.in accordance arith
<br /> ,: , the provisions of paragrdph 8,ia lieu of tt�paymetrt of mortgage inst�ance preauums.These items ac�called"Fscraw It�s.°.
<br /> � • � Lender may,at a�ny 6me.collece and hotd Fands in an amo�t not to exceed We maxu�n amount a tender for a federally
<br /> t ' � � related mortgage toan may require for Eorrower's escru�ar accouai under the fedeial Real Estate 3$ttlemeat Procedates Act of
<br /> � � ' . ' • l974 as amended from time w time. t2 U.S.C. Section 2601 et seq. ("RFSPA'),unless another law t6at applies to the Funds
<br /> sets a tesser amount.lf so. Lender may. at any time, callect and hold Funds in an amount not to exc�eed ttre lesser amonnt.
<br /> � . •� ° � l.ender may esdmate the amaunt of Furtds due an the basis of curreni data and rea�onable esrimates of eapeaditures of fnture . ;
<br /> '_ ... ". � :::., � . Essrow Ftems or otherwise in accoidance.with applicable Iaw. • . ,
<br /> -�-'---- ,
<br /> ---:' . -_. .. _ _ ���unds sflall be held in aninsdmtion whose-deRosits arednsumd by a�federa! agency,-instnimentality.-or..earity ..
<br /> � , �. (including Lender,if Lender is such an ins��tion)or in any Federal Home Loan Bank.Lender shalt agply the FuAds to pay tY�e
<br /> '. ` ' Escrow[tems.Lender may stot charge Borrower for holding and applying the F�nds,armually aaalyting the escrow axaunt,or
<br /> . '. �. ' • verifying the Fscraw Items.w�less Lender pays Horrower interat on the Funds and applicable!aw perauts Lender to maTse such
<br /> "' ` " �` a charge.Hawever.I.ender may require Bo�tower to pay a on�-time charge for an�d�ndent real estate taa t8porting Feryica -
<br /> '-.- .- used by Lender in wnnection with this 1r�, unless applica6le law provides atherwise. Un.ess an agrce�rceni is made aa��: :
<br /> . � applicable taw requires interest to Qe pai�,Lxuder shatl not be required to pay Borrower any in[�est or earaings on the Fu��:,-;�•
<br /> � , • Borrower and Lender may agree in writiflg,however,that interest shall be paid on the Funds.L.endei shall give to Borrow'ev;:•-
<br /> � . _ � ...�_ .... without charge, an annual accounting of the Funds. showing credits and debits to tAe Funds aad the purpose far whicl►each
<br /> ' . ' debit to the Funds was made.The Funds are pledged as addidonal security for aq sums secuYed by ttis Seauity InsWment. �
<br /> � � If the Funds held by Lender exceed t6e amounu permitted to be held by applicabte law, Lec�z shall acxount ta Boaawer
<br /> � - � • • for the excess Funds in accordance with the s�uirements of applicable law.If the amount of ttL.�ands held by�Leuder at arc,�•
<br /> . dme is�rot sufficient tu p�y the Escrow Ite�when due.Lender may so notify Borrower in writing,and.in such case Bo:rowes
<br /> -. --.�;--= ��----� s#�all pay to Lender the amount necessary to mak�e up the def ciency. Bonower shall m�ke ap the deficIency in no more than
<br /> . , twelve monthly paymenu,at I.ender s sole discretion. � ,
<br /> . ; � • " Upon payment in fuil of all sums secured by this Security Instnunent. Leader shall promptly refund to Sorcower anyr
<br /> • � Funds hetd by I.ender.If,under paragraph 21.Lender shal!acquire or sell the Properry.Lender.prior to tiYe acquisiuon er sa!e
<br /> . �,� . . of the Property.shall apply any Funds he(d by Lender at the time of aa�isition or sate as a credit aga9nst the sums secured by
<br /> _ . . • this Security Instrument.
<br />�� . ..; ' ' . 3.Appflcation of Paymems.llnless applicable taw provides othenvise.all payments received by Lender ander paragaphs
<br /> . • • I and 2 shaU be applied:first.to nny pre�yment charges due under the Note; seoond.to amounts payabfe under paragr�pb 2:
<br /> " � . tturd.to intec�t due:fourth.to principal d�e;and last.to any late cha�rs due under the Note. �
<br /> `� • •• . . 4.Cha�es; Uens.Borrower shall pay all tanes,asscssments. c'nar�es. fines and impositions attributa6le to the Property
<br /> , � � �fsicb may attain prioriry over this Securiry Instrument, and leasehoId payments or ground rents. if any. Borrower shall pay
<br /> ' �� �• tnese obligations in the mann�provided in paragraph 2.or if not paid in that manner,Borrower shall pay them on time directfy
<br /> ,: : : • . '� , to the person owed paymem.9orrower shall promptiy furnish to Lender all notices of amaunu to 6e paid under this paiag�pb. �
<br /> -- ; ..�. • If Borrower makes these payments directiy.Borrower shall promptly fumish to Lender receipts evideacing the payments.
<br /> -� . . Borrower shall promptly discharge zny lien which has prioriry o�:��s this Security InstrumYnt w.�less Borrower: (a)agrees in. .
<br />.;.��. • writing to the payment of the e.�ligation secured by the lien in a manr,s�acceptable ta li.ender;(b�oontests in good faith the lica
<br /> '�'�i`;��;���� by;or defends against en,cn:�:�ent of the lien in, legal proceedir.�s v�hich in �i�e+..ender's opinion operate to prevent the =
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<br /> : � • � enf:teement of the lien:or(c)secures fram the holder of the lien an�reement satisfacrory to l.ender subordinadng the lien to
<br /> . ' . ' � •� .� this Security Instrument. if L.ender dete�irr_s that arry part of the L�t;Geny is subject to a lien which may attain priority av�r
<br /> � �� . . this Security Instrument.Lender may gi�e Borrower a notice identi�z^g the lien.Borrower shali satisfy the lien or take a�ra _
<br /> _ , . • . � niore of the actions set forth a5c�e within 10 days of the�iving of notice.
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<br />-_ ;:�;.` Form 3�28 8190 -
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