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<br /> ^ TOC}ETHER WITH ull the impxovcments no�v on c�rcaftcr crected on dtc property, �nQ�4��sciiicni�; iippu�c'ni��cs, and
<br /> fixtures now on c�rcaftcr a nart of thc property. All rcpinccntr.nts and ;idditirniv shall alsn bc covcred by this Sccurily
<br /> �.'..t � „ , Instrument. All of the forcgoingis refcrrcd to in this Security Instrumcnt as thc"Property.`- ��,
<br /> BORROWER COVBNANTS that Borrowcr is lawfully sciccd of thc cstntc hcrcl-�y conveycd and has thc right So grant and �,
<br />_ convcy thc Propeny and thnt thc Property is uncncuntbercd, cxccpt for cncumbrances of record. Dorrmvcr warritnts ond will
<br />- defend generally the tide to ihe Property u ainst nll cluims und demunds, subject�o any encumbranees�f record. �
<br /> • , THIS SECURITY 1[VSTRUMENT�ombines uniform covenants for national use and non-uniform covenants with limited ��`
<br /> , � variations by jurisdiction to constitutc a uniform security instrum�nt rovcring rcal praperty. �::•
<br /> • UI�lIFO1tM COVENANTS.Borrowcr and Lcndcr covenant an�i ngrce as follows: B;�j:�
<br /> �� 1. Pnymcnt af Pr(ncipr�l und Interest; Prepayment and Late Charges. Aorrower shall promptly pay when duc thc �—=
<br /> principal of and intcrest on the dcbt evidcnced by thc Notc and any prcpayment and late charges due undcr the Note. ��"-�
<br /> • Z. FS�nds f�r Taxes �nd Insurnnce. Subject to �ipplicablc law or to a written waivcr by I.endcr, Borrowcr shall Pay to ��
<br /> .. Lcndcr on the day monthly paymcnts are duc undcr thc Note, until the Natc is paid in full,a sum("Funds")far. (a)yca�ly taxes �='
<br /> and assessments which rnay attain priority over this Securiry Instrument as a lien on the Property; (b)yearly leasehold payments - -
<br /> or ground rents on the Property,if any; (c)yearly hazard or property insurance premiums; (d) yeurly flood insurance premiums,
<br /> if any; (e)yearly mortgage insurancc premiums, if any: and (f) uny sums payable by Rorrower t« Lender, in accordance with
<br /> . the provisions of paragraph 8, in lieu of the paymcnt of mortgage insw•ance premiums.These items rue called "Escrow Items."
<br /> ; . �� Lcndcr may, �t any timc, cullect and hold Funds in un umount not to excecd the maxirnum amaunt a Icnder for a fcdcrally `
<br /> . reluttd mortguge loan may require for Borrower's escrow uccount under the federal 1Real Estate Setdement Proceciures Act of
<br /> . . 1974 as amcnded from time to timc, 12 U.S.C. Section 2601 er.seq. ("RESPA"), unless another law that applies to the Funds
<br /> . scts u lesser amount. If so, Lender may, ut any time, collect and hold Funds in an amount not to excced the lcsser umount.
<br /> L.endcr may estimate thc amount of Funds duc on the basis of currcnt duta and reasonable estimatcs of cxpenditures of future
<br /> • Escrow Items or c�therwise in��mrdance with applicable law.
<br /> , The Funds shall hc bcld in un institution whosc deposits arc insureci by a fedcral agency, instrumentulity, or entity
<br /> „ (including l.snder, if Lcndcr is such an in.titution)or in any Fedcral Home Loan Bank. Lender shall apply the Funds to pay thc
<br /> Escrow Items. Lender may not charge Borrower far holding and Upplyin�the Funds,annually analyzing the escrow account,or
<br /> '� verifying the F.scrow Items, unlcsc Lender pays Borcower interest on the Funds and applicablc law permits Lender to make such i��
<br /> , a chsrfie. However_ f.ender rn�v m uir(+ �3nrrrny�r rn n•... •....,,,.:..,.. ,.I.,._.., v._.._
<br /> ,}. - -� '�-'-- •••Y«! ...•.�� �+u��. �u.+�bt. iu� uu 't11uC�iClluClll rwi e,ia�e[ax reponing servicc ��
<br /> " ,; , I used by L.ender in cannection with this loan, unless applicable luw provides otherwise. Unless an agrcement is made or
<br /> upplicable law requires intcrest to bc paiJ, [.endcr shall not be requimd to pay Borrowcr any intcrest or earnin�s on the Funds.
<br /> Borrowcr and Lcnder may agree in writing, howevcr, thut intcrest shaU hc paiJ on thc Funds. L.endcr shull give to Barrower, [�:.___..
<br /> , • without rharge,an annual accounting of the Fundti, showing credits and debits to the Funds and thc purpose for which each �`__._,.
<br /> � debit to the Funds was tnadc.The Funds are plcdged as additional securiry for:�II sums sccurcd by this Securiry Instrument. �r.�'=`'W'�
<br /> •�'�s'
<br /> •- If the Funds held by Lendercxceed thc amounts prrtnitted to he held by applicuhle luw, Lcnder shall account to Borrower ' "�"�¢'
<br /> t�w�r
<br /> , for the exeess Funds in accordance with the requirements of applicable litw. If the umount of the Funds held by Lender at any *
<br /> time is not sufftcient to pay the Eicrow [tems whrn Jue, I_ender may so notify Borrower in writing, and, in such case Borrower ..-��~
<br /> shall pay to L.endcr the amount ikeess:try to tnake up the deficienry. Borrower shall ntake up the derciency in no more thun '' ��
<br /> � I twclve ntonthly pa��rnents,at Lcndcr's solr Jixcretion.
<br /> i Upon paymcnt in full of all sums scrurcJ by this Sccurity [nstrumcnt, l,cndcr shall promptly refund to Borrowcr any �';;�:
<br /> „ � Funds held by Lender. IF,under paragraph 2 I, Lcnder shall acquir:or ticl l the Propcny,Lcnder, prior to t!�c ucquisition or sale ��.,:•,
<br /> of die Property,shall upply any Fund,helJ by Lender ut the tinu uf acquisition or salc as a rredit aguinst the sums secured by !•�l
<br /> ' �' this Sccuriry Instrumm�t.
<br />_ 3.Applicatlon of Puymente.Unlcss applicablc law providcs othcrwisc, all payments rcccived by L.endcr under paragraphs :
<br /> . 1 �nd 2 shall bc applicd: first,to any prepaymcnt rhargcs duc unJcr thc Notc: ,ccc�nd, tn amounts payablc undcr paragraph 2: �
<br /> , third, ro intcrest duc:ti�wih, to�,rinripal duc; and lust. to any latc chargcs duc undcr th�Notc.
<br /> � 4, Churges; I,icns. Bc�rrowcr shall pay all taxcs, usscstimcnts, rhargeti. tines und impositions uttrihutable to thc Property
<br /> which tnay attain prinrity uvcr t6is Scruriry Instrumcnt, anJ Iraschold paynunts or grcmnJ rcntti, i}'any. Burrowcr shall pay 'k.
<br /> thcsc ubligations in thc rnanncr prn�idcd in paragraph?, c�r it'n�it paid in that tnanncr, Borru�ver shall pay them on time dircrdy
<br /> to the person owcd payment. &�rrovvcr ti{iall promptly furnish tu Lendcr all notires uf arnounts tu hc paid und�r thiti paragraph. •
<br /> [f Biirrrnver makes thcse paymcnt+Jirerdy. Borrou�cr shall promptly fumitih to Lernder reccipls c��idrncing thc payrnrntti.
<br /> ; Burrower`hall promptly dic,charge uny lien which has priority over thix 5ecurity lroslrument unle�ti Burrower. (a)aErrr�in
<br /> writin�;to the payment uf ihe ohligatinn scrurrJ by the lien in:i mannerarceptahlr tu L�nJcr:�b)rontext� inl:c�od f'aith the lirn �
<br /> , by, or Jctcnd, aguinst enlin•ccnunt uf thc lirn in. Icg,il prurcedings �ahirh in thc Lcndcr'ti opinion ciper.�tc tu prcvcnt thc
<br /> x enlorrement of the licn: or(c)�e�ures from the hulder i�f the lirn�n :igreetnrnt>atitifactoq� tu Lendcr tiuborJinating the lirn t��
<br /> this S�curity Instrumcnt. If Lcndcr�rtcrminrs Ihcu any part uf thc Pr�perty i� �uhjrct to a licn whirh may auain priurity ovrr �
<br /> this Scrurity Intitrumcnt, Lcn�lcr may givc Borrowrr a nutirr idcntif��in�:thc lien. B�irr��urr tihall ,ati.ti�thr lirn nr tahc unc ur
<br /> morc of thc.ictions ticl fimh atwvc�t�ithin 10 day,or U�c givinE uf notire. I
<br /> �� Farm 3028 9/90 f
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