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<br />- TOG�'PUl?R WITH all thc ii�i�r��iii1��S�s�iii►w on c�renftcr crectcd on�hc�ra�eny, And aU c..isemcnis,nppurtcnmiccs, --
<br /> �� und fixlures nn�v cin c�rc:eficr u parl nf�hc pruperty. All rcpluccmcnts�md nddltion�: Rhall nlsa be euvcrc�l by this Sccudty
<br /> Insirumcnt. A�I of tl�c fi►rc�uin�Ix refcrrcd to in thia SCCUrity Instn�ment�v thc"Prapcny." _
<br />?��•�� •� HORROWER CqV P.NANTS A�nt Borro�ver is Imvfully seiscd of�he cstato hcreby conacycd uncl has the riEht to grnnt
<br />` cind comcy ihc Propcny :md�hnt thc Prnpcny is uncncunibcrcd,cxccpt far cncumbmnccs of record. t3orrc�wcr warrunts and _�.
<br /> _ � will defend gcncrnlly ihc titic ta thc F'ropcny against nll clnims und dcni�mds,subject w nny encumbr�tnccs of r�;c:u�:l.
<br /> THIS 5rCUR7TY INSTRUMWNT combines uniform covcnants for nntianal use and non-uniform cavenunu with
<br /> . '� limitcd vc�riatians hy jurlsdiction to ccinstitute u uniform security insuument cov�ering real property.
<br /> � UNI�ORM CUVHNANT5. Bartowcr nnd Lcndcr cavcnnnt nnd agrcc us f�llows:
<br /> , 1, f�yment ot Prtncipal and Interest;Prepay�ntent und I.ate Chorges. Aorrow�r shaU promptly pay when duG the
<br /> ' � princiPal of and interest o�i the debt evidenced by thc Note i►nd any prepnyment and late charges duc under the Nate. �
<br /> 2. Llmds for 7bx�n�c�A Insucance. S�bject to upplicpble Ic+w or to n���riuen r.+uiver by Lender.Dorrowcr shall pay to
<br /> , Lendcr on the day monthly paymcnts arc due under the Note,untll tlie Nose is p:dd in full,a sum("Funds")for:(a)yearly
<br /> taxes tu�d nssessments which may attain prioriry ovcr this Security Insttument as n lien on �he Propeny;(b)yearly 1�asehold
<br /> c: paymcnts or �mund rents on �he Property, if any; (c) ycurly hazard or propeny insurnnce premiums; (d) ycarly floal
<br /> insumncc prcmiums, if :�ny; (c)yearly mortg:►ge insumnce premiums, if any: and (�any sums payable by Horrower to
<br /> I..cnder,in uccardpnce with the provisians of paragraph R, in licu of the paymcnt of mortgagc insurance premiums. Thcse
<br />-a� „ items are callcd"Escrow Items." Lender may,at:u�y time.collect and hold Funds in an��noum not to excecd the rtiaximum
<br /> amount a lender for u federally related mortgage loari may require for 8onower's cscrow account under the fedcral Real
<br /> Estate Settlement Procedures Act of t974 us nmendcd tiom time to tirnc, l2 U.S.C.§ 2W[ er seq.("RESPfl"),unicss anuQ�er °
<br /> �- `� law that applies ro the Funds scu a lcsser umount. lf so,I.ender may, at ony time,collat and hold'Funds in nn amount not ro
<br />- � excc;ed the Iesscr amount. Lendcr maf cstimatc the amaunt of Funds due on the basis of current data and reasonable
<br /> . esumates ofexpenditmrs of futurc Escrow Items or otherwise in ucwrdance with applicable law.
<br /> . The Funds shull bc held in an institution whose depositc are insured by a fedcml agency, instrumentality,or entity
<br /> ,� „ (includin� Lender,if Lender is such an instituYion)ur in any Federal Home Loan Bnnk. Lender shall apply the Funds to pay
<br /> " the Eiscrow Items. Lender may not churge Borrower for holding and upplying the I�nds,annaally analyxing the escraw
<br /> account, or verifying the Escrow {tcros, unless Lc:nder pays Bormwer interest on die Funds und upplicable law pemut� --
<br /> Lcnder to make such a chargc. Howcver,L.ender may rcquire Borrower to pay a one•tirnc charge for an independcnt real
<br /> „ estate tnx rcporting service used by Lcnder in cannection with this loan,unless applicable law provides othcnvise. Unless an �F`-
<br /> agrr.ement is madc ar applicablc law rcquires intcrest to be paid.Lendcr shall not bc required to pay Borro�vcr any interest or a
<br /> , � camings on the Funds. Barrowcr and Lender may agrcc in writing,howcvcr,that intercst shall bc paid on thc ELnds. Lendcr �
<br /> � chnll oiv� tn Rorr�wer. wiihout charee.an annual accounune of the Funds,sho�vine crcdits and debits to the ruads and the �-
<br /> purpose for which cach dcbit to thc ft���,is was made. The Funds are pledged as additional security for ult sums sccorcd by ;.,.—
<br /> this Security[nsaument. L�.-
<br /> If the Funds held by I.ender exceed the amouncs pemuned to be held by applicablc law, Lender shaQ uce�unt to R.�_
<br /> - Borrower for[he excess Funds in accordance with the requirements af applicable law. I�the amount of the Funds held by �-
<br /> Lcnder at any time is not sufticicnt to pay the Escrow Items when due, Lender may so notify Bonower in writing, and,in =
<br /> such case Borrower shall pay to Lender the amount necessary to rnake up the deficiency. Borrower shall make up the _
<br /> . deficiency in no more than twelve monthly payments,at Lender s sole discretion. _.
<br /> .. Upon payment in full of all sums secured by this Security Instrument,Lender shall prompdy refund to Bonower any
<br /> Funds held by Lender. If,under paragraph 21,Lender shall acquire or sell the PropYrry. Lender, prior to the acquisition or -
<br /> sale of the Property,shall apply any Funds hcld by Lender at the time of acquisition or sale as a credit against the syms _
<br /> , „ secured by this Security Instrument. � �
<br /> 3. Applicatlan of Payments. Unless applicable law provides othenvise,all payments received by Lender under "
<br /> - paragraphs I and 2 shall be applied:first,to any prepayment charges due under the Note; second,to amounts payable under
<br /> � . paragraph 2;third,to interest duc;fourth,to principal due;and last,to any late charges due under thc Notc. _.�
<br /> . 4. Churges; L[ens. Borro�vcr shall pay all taxes, assessmenu, charges, fines and impositions atvibuklble to the �'
<br /> . Property which may attain priority over this Security Instrument,and Ieasehold payments or ground rents,if any. Borrower Fr°
<br /> � shall pay tl�ese obligauons in the manner provided in paragraph 2,or if not paid in that manner,Borrower shall pay them on -
<br /> time direcdy to the person owed paymcnt. Borrower shall promptly fumish to Lender all notices of amounts to be paid under
<br /> this paragraph. [f Borrower makes these payments direcdy,Borro�ver shall prompd y furnish to Lender receipts evidencing
<br /> � , the payments.
<br /> " Borrower shall promptly clischarge any lien which has priority over this Security Instrument unless Borrower.(a)agrees
<br /> " in writing to the payment of the abligation secumd by the lien in a manner acceptable to Lcnder;(b)contests in�ood faith the
<br /> • ' lien by,or defends against enforcement of the lien in.Iegal proceedings which in the I.ender's opinion operate to pmvent the .
<br /> ' enforcement otthe lien: or{c)secures from die holder vf the lien an agreement satistacrory to Lender subordinatin�the lien � .
<br /> to this Security Insavment. If Lender determines that any part of the Praperty is subject to a lien which may attain priority (
<br /> " over this Security Instrumcnt,Lendcr may give Borrower a noticc identifying the licn. Bonower shall sadsfy the lien or take I
<br /> „ one or more of the actions set forth above within 10 days of the giving of notice.
<br /> 5. Hn�rd or Propert�+Ensurnnce. Borrower shall keep the improvemcnts no�v existing or hereaftcr erected on the �
<br /> Property insured a�ainst loss by fim,hazards included within the terrn"extended coverage"and any other ha•r.urds,includins �
<br /> ° � floods or flooding, for which Lendcr requires insurancc. This insurance shall bc maintained in the amounts and for the �
<br /> , • Forrtf 3028 9/90 Ifi�Rt 2 oj6 pngts� �
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