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<br /> .,ti �. `�.',r F: ': : TaGETHER VYITH all t��imProvements now or t�reafter em,cied on ths property.anA a!1 easemeats.aPPurtenanceg,and . r' � " ; .
<br /> ` `� • ' � fiunres novi or hereafter a part of the proFercy. Al! replaoemenis and additions shall also be wvered by this Security ' � . ,°�,.�.�'
<br /> . �. . Instrument.All of the foregoing is referred tn in this Secarity Iastrument as the"Property." . ._,; -
<br /> i�` � � . BORROWER COVENANTS that Borrawer is latvfully seised of'the estate hereby conveyed and has tlte right to grant and °�'t:`.�-
<br /> J . ...c• . . . � ,.
<br /> . ' � convey the Proprerty and that t�e Prt�perty is uner�^um6ered,except for encumbrances of recotd. Borrower w�rrants ar.d will _
<br /> ' ` � � defend generally the.tiUe to ttne Property against all claims and demands.subject ta any encumbrances df recard. �" ' ':.;..,
<br /> ` ; --:__' . ; :: � TEIIS SEC[iRTfY INS!'RUMEN'f'�ambines uniform oovanants for national use and non-uniform covenants with timited .. •• .•_ -
<br /> r --
<br /> _ variations 6y jurisdiction to constitute a un3fotm security instnunent cavering reai property.
<br /> , �`; tJNff�'ORM COVENANTS.Borcower and Lender wve�rant aiW agree as follows: t , 4� j��'
<br /> . . • ,i l.Payruen! of PrindpaC and interat; Prepayrneat and Late Ci�ges. Borrower sh�ll P�P�Y PaY when dus the. , f _ . `. .
<br /> ' .. principal of and iaterest on the debt evidenced by the Note and any prepayment and taze charges due�nder the Note. ��{��-t?��''�"=
<br /> �`� - `•� � 2.Fnads for Taxes and Insm�suce.Su6ject to applicabte law or to a written waiver by Lender, Borrawer shall pay to � �`' � _-
<br /> , � ' � . : � Lender on 4he day manthly payrnenu are due nnder the Note,until the Note is�aid in fiill.a sum("Fus�ds")for.(a)yearly taxes ��� '� �
<br /> and assessments which may attain pribrity over Wis Security Insdument as a lien on the Fropeny:(b}yearly teasehold payments _-��_�_�`�"_��� �-�
<br />, � � ` , or ground reats on the Praaerty.if any;(c)YeartY Gazard or pmperty inc�*a.+cQ preminms;(d)Yeariy Qood insuranc�premiums, �_
<br /> . .� ....,
<br /> ' if any: (e)Year1Y mortgage insurdnre grcrniums.if any;and($any sums payable by Borrower to Lender, in accordance with �a��'`=-------
<br /> • . ' � the provisions of paragraph S, in lien of the payment of mortgage insurance premiums.'ehese items aze called"Fsccow Items.° •. �'�-
<br /> ' • . � � .' � Lender may, at any time,collect and hold Funds in an amouni uot to exceed the ma�cimum amount a lender for a federally �-_
<br />' `, - �' ti ., " related mortgage loan may requi�for Borrower's escrow account under the federal Real Estate Setttement Pr�cedures Act of v
<br /> ` • • 1974 as arnended from dme to time, 12 O.S.C.Sedion 2601.et seq.("RESPA"}.unless anather law tlZat applies to the fiunds — _
<br /> ` seu a lesser amos� If so, Lender may, at any time, coltect and hold Funds in an aznount not w exc�xd the lesser amauat. =--
<br /> �� _ ' � Lender�ay estima:�the amount of Funds due on the basis of current data and reasonable e�ssmates af e�penditures of future �_�=
<br /> ..
<br /> '__-.�_�:---- .- - . . . Fscrs�--.Ie...yits or.otherwise.in.accardance witl�applicable law.. • --
<br /> • Ti�_:,e Funds shall be held in an institudon whose depasits are insured by a federal agency, instrumentality, or entity -
<br /> • �'' ':,� (inclu�ing Lendee,i€I.ender is such an institution)or in any Pedetal Home Laan Bank.L.ender shall a�Iy the Funds to pay the =-
<br /> � „� . . Escrow Items.Len�er may reot charge Borrow�er for holding and applying the Funds.annually analyzir�r`�e esccow aceount,or _-_
<br /> " .. � . � verifying the Escrow Iteins.untess Lender pays Barrower intemst on the Funds and appliwtsl�law peris�Lender to miake such � __-
<br /> � - - � - � a charge.However.Lender may require Bornower�ta pay a one-time charge for an independent mal estate tax rey�orting sen+ice
<br /> ' � � • used by Lender in cannection with this loan, unless applirable law provides othera+ise. UnYess an agreemeat is made or `� J�
<br /> �����-
<br /> " applicable!aw requires interest to be paid. Lerdv.-shall naE be required to pay Borrawer any interest oQ eamings on tlte Fnnds. . �
<br /> � �� • . ' Borrower and I.ender may agree in writing. h��wer,that interest shall be paid on the Funds. Lende,��`.all give to Borrower, _— - --
<br /> ��"� � -�-�`". �- �' �� �" witho¢t charge. an annual accounting of the Fe:.-�s, showing credits and debits to the Funds and th:� �
<br /> � ose for which each ��; ..__
<br /> d�--
<br /> ., „ debiE t�the Funds was made.Tt�e Funds ure pledged•as additio.�3 security for all sums secured by this Security Instrt�^Len� � �;-�e
<br /> . . � , if the Funds held by L.ender exceed the amounts permit�:,1 to be held by applicable Lw.Lender shall account ta�orrower �,,��
<br /> ,- .' for the excess Funds in accordance with the rec�,uremeau of applicable law. If the amos�.of the Funds hetd by Lender at any '_;:_:_
<br /> „ _` � time is not sufficient to pay the Escrow Items w-�ett due.Lender may so not��•Borrower in writing, an�,in snch c�se Borrower _-
<br /> ' • ' � shall pay to L.ender the amount necessary to rnz.ke up the deficiency. Borrower shall make up the de`�iency in no more than `-
<br /> �. •• twelve monthly payments.at l.eader's sole discretion. �'F-`'`
<br /> . � . � Upon payment in full of all sums secured by this Security Instrument. Lender shal! prompdy refund to Bamnwer any . t: ';���.
<br /> _ . ..' • " Funds held by Lender.If,undcr paragraph 21. Lender shall acquire or sell the Property.Lender,prior to the acquisition or sate �� ;,�,
<br /> „ of the Property,shall apply any Funds held by I..ender at the time of acquisition or sale as a credit agai^st the sums secured by �� �
<br />_ . �'�:-
<br /> • ; this Security Instrument. � -
<br /> � • 3.A lication of Pa ments.Unless a licable law rovides otherwise.all a ments received b Lender under ara hs ���:�J
<br /> . PP Y PP P P Y Y P P�P
<br /> ' '• 1 and 2 shall be applied: first. to any prepayment charges dee under the Note; second.to amounts payable under paragraph 2; =�-
<br />- • � third.to interest due:fourth,to nnci al due;and last.to an} tate char es due under the Note. �°���
<br /> �� � 4.Charges; Liens.Borrower shall pay all taaes,assessments. charges. fines and impasitians attributable to the Property ' ��'''^----
<br /> - � . which ma attain riori over this Securi In���rr.ent, and leasehold a�:�ents or round rents. if an . Borrower shall a �• ` ='=���
<br /> _ , . Y P tY rY P � � S Y PY
<br /> • � '� these obligations in the manner provided in paraa.aph 2,or if not paid in that manner.Borrower shall pay them on time directty • rt`'-�?;---
<br /> T� �. .,..�';. •.
<br /> ; to the person owed paymen�Borrawer shall pror:�ptly fumish to I.ender al l notices of amounts to be paid under this paragraph. '���;'�� � _�'���-
<br /> _ � ' �� � : � If Borrower matces th,xse a ments directl .B�rrower shal! rum tl fumish to Lender recei ts evidencin the a ments. • '
<br /> . PY Y P P Y P 8 PY . .,��7�° - -_�.
<br /> � . • . Borrawer shaU promptly discharge any liea Rfiich has priority aver this 5esuriry Instrument unless 8orrower: (a)agrces in • •
<br /> � writin�to the payment of the obligation secured��the lien in a manner acceptabie to l.ender;(b)cor.t�;CS in good faith the lien : '' . $
<br /> '-. ' by, or defends against enforcement of the lien in. legal praceedings which in the Lender s opinion operate to prevent the . • "
<br /> °� . "- • enforcerr.ent of the licn:or(c)secures from the holder af the lien an agreement satisfnetory to I.ender subordinating the lien to .� • � �`'
<br /> ' this Security lnstrument. If I.ender determines that any part of the Propeny is subjert ta�lien which may attain priority over � . ,
<br /> �� � . ' � this Security Instrument. Lender may give Borrower a notice identifying the lie�.Borroaer shall satisfy the lien or Iatce one or ' , °
<br /> - ' ' more af ihe actions set forth above within 10 da;s of the giving of notice. �
<br /> � . � Fortn 30Z8 9/90 , .
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