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<br /> t� . . TOGE'l�iER VJITEI ali the improvements nuw ar hereafter erected on tt�ie pmperty:�d�gasemeats•aPPurtenapces,an� � --
<br />:;`� '': �' • r•� fixwres aow or hem�r a part nf the.ProPertY. All replaoements anct addidons shall also be covered by this Se.."uriry K ."'.rr'`--
<br /> -� . , . . Instrument.All of the fos�gning is referred to in dus Secutity Instruinent as the'Property.' ' � ��'''�:-
<br /> ` . � `. . . x�.�'�.,,_
<br /> _� :- BpRROWER COVENAN'I`3 Ehat Borrower is IaNfi�lty seisod of t�e estate herebyconveyed and has We right to gcant and -_
<br /> . .i`�'. :, ' � • �.:.���
<br /> , y �< � convey th:Pcoperty and that�he Property is uaencumbered,except for encumbranaes of record. Borrower wartants and wIII _ ;5;,• ..
<br /> • ' defend gener�lly the atle to the Property against aU claims and demands,subject to any encumbcanc�s of record. ;°.��T;��,:�..
<br /> ` . THIS SECURITY IIJS7RUM�Tf cornbines uaiform covenants for national use and aan-uniform wvenanu with limited• •;': �=
<br /> � - .- ..= variaiior�s by�jurisdicYioa to conssitute a aniforrtt s�curity insteumeat coveting rea!pzoperty. `-�"'�.° �
<br /> . . UNIFORM COVENAN'FS.Borrower ansE b�ndar covenant and agree as foIIows: � '� "�,-`w�=
<br /> . l. FaymenR of Yt�i�cipal aud Intee� Pr�aym�t aad Late Cd�arges�.Borrower st�al!promptly pay when dae the ��, �.��.�-, =
<br /> � � � principal of and interest on the debt evideIIOefl by the Note sud any prepaymenE and late c.S�arges due under the Note. �="�°==�'__
<br /> ', : • . , � �. 2.Fuuds for Tages aad IDSOraace_Shbject to applica6ie!aw or to a written waiver by L.ender. Borrower shalt pay to
<br /> . t�• . ', `, .. . ' Lender on thc day montiily payments are due under the Nate.until the Note is paid in full,a sum("Funds°)for.(a)yearly taxes� - -
<br /> .'s •' and assessments whfch may attain prioriry over tliis Secwary Instnimeat as a lien on the Property;(b)yearly leasehold payments =_- - -
<br /> � : " , . or ground rents on the Froperty,if any;(c)Yearly hazard or t�P�Y insnrance premiums;(d}yearly Aood insurance premiums, ..
<br /> t� �, � �`� , if any:(e)Yearly mortgage insurance gremiams.if any; and (�anY sums PaYa6le by Borrower to I.ender,in accordaace with . - -
<br /> �. -" ,- , the pmvisions of paragraph 8;in lieu of the pay�uent of mortgage insnrance premiums.These items are called"Escrow Items."
<br /> ° . . Lender may,at aay time,colkct and hotd Fands In an amaant aot to exceed the ma=�m,m amount a lendet for a federaliy �
<br /> ���• . ,.' related mortgage loan may rec�uire for Borrower's escrow account under the federal Real Fstate SetElement Procedures Act of
<br /> - , , 19T4 as amended from time to time, l2 U.S.G Settion 2601 et seq.("RESPA"),ur,t�ss another law.that applies ta the FUnds
<br /> � • sets a lesser amount. If so, Leaider may, at any.time,c�Qect and hpld Funds in an amount not w exceed•thc lesser amounL.
<br /> ... ...,:�
<br />:�_r_.., ,_ ;-.` :�•�_ Ixader raay estimate the amount of Fund�due on the basis of current data aad reasonable estiutates of eapenditures of fuwre
<br /> . �., - �- =-�----;v �--- - ---Escrow-Items-orotherwise-inaccordancewithapplicablelaw:�-- ._.__.....__.._. .--- -.- -.--.-----. _...---------...--------.. ---. -..-- . �
<br /> ��� � The Funds shaIl be held in an institution whose deposits are iasured by a federal agency, instrumentality, or eAtity �
<br /> ` ' (including l.ender.if Lender is such an institution)or in any Federal Home I.oan Bank.I.euder shall apply the Funds to pay the
<br /> ' ,. Escrow Items. Lender may not charge Borrower for holding and appiying the Funds,annually analyzing the escrow ar,count,or
<br /> ' ,, �.. .
<br /> . .. ... � : ..:. , v " "n the Escrow Items,miless Lender s Borrower interest on the Fands and applicable law permits Leader to make sach
<br /> �. ..< � � • • ._ _�.$._ _ . .
<br /> .. - _ PaY- - - - - �—
<br /> � � , ,. '_ a charge.However, I.ender may require Borrower to pay a ane-time chazge for an independent real estate tax reporting service ' _�-�
<br /> � � �. ` • nsed by Lender in wnnection with this loan, unless applicable taw provides oiherwise. IInless an agreement is made or �-
<br /> • . � - • applicable law requires interzst to be paid, Leader shaU not be required to pay Borcower aay interest or eamings on the Funds. �--
<br /> . . , _ ...._ Borrower and Lender may 3gree in writing,however.that interest shall be paid on the Funds.Leader shall glve to Borrov�er. -
<br /> � _
<br /> , , without charge, an annual accuundng of tlhe Funds, showing crediu and debits to the Funds and the pur�ose for which each � .
<br /> ' ' ,,�: ' ' debit to the Fu^ds was made.The Funds are pledged as additional securiry for all sums secured by tivs Secunty Instrutnent. y��
<br /> If the Funds held b Lender exceed the amounts ernutted to be held b licable law Lender shall accaunt to Bonawer �=� .�.�
<br /> . Y P Y aPP
<br /> ' ' � � for the excess Funds in accordance with the requirements of applicable law. If the amount of the Funds held by Lendee at any . �.�
<br /> . � . . time is hot sufficient to pay the Escrow Items when dne.I.ender may so notlfy Borrower in writing,and,in sucb ease Barrc�wer �� _
<br /> � sha11 pay to I.ender the amount necessary to make up the defrciency. Borrower shall make up the deficiency in no more than
<br /> ' • � • twelve monthly payments,at Lender's sole discretion. `'-'�-
<br /> - " � � . Upon payment in full of all sums secvred by this Security Inswment. Lender shall prompt[y refund to Borrower any � _ -
<br /> ' � Funds held b Lertder.If.under ara ra h 21,Lender shall a ire or sell the Pro e Lender. nor to the a �siiion or sale '�`
<br /> -. Y P g P � P nN, P � �
<br />_ � _ � ' : of the Property.shall apply any Funds held by Lender at the time of acquisi6on or saie as a credit against the sums securzd by �`_•""`
<br /> r,. ,
<br /> . , . this Security Iastr�raent. � �y
<br /> __ _� __ 3.ApplIcatloD Qt P�ymenta.Unless applicable law provides otherwise,all payments received by Lender under paragraphs -
<br /> `� ��� � . • .� 1 and 2 shall be applied: first,to any pnpayment charges due under the Note;second.to amaunu payable under para�raph 2: ---�=_
<br /> ::�, .�,..����—
<br /> - � third,to interest due;fonrth,to principal due;and last,ta any late charges due under the.Note. �,.�;�i�,�,_
<br />- � • ' ` 4.Charges;Lien9. Borrower shait pay all tanes,assessments.charges. fines and impositions anributable to the Property
<br /> v �. ' � . which may attain priority over this Security Instrument, and leasehold paymenu os ground rents, if any. Borrower shall pay
<br />_ .�• � .' . these obfigut3ons in the manner provided ia paragraph 2,or if not paid in that manner.Borrower shall pay them on time directty ' ',
<br /> "'' ��� � � � to the person owed payment:Boaower shall promptly furnish to Lender all.iotices of amounts to be paid under this paragrnph. � ,;�
<br /> ,-�� • : • � If Borruwer makes these payments directly.Borrower shall promptly furnish to Lender rerelpts evidencing the payments. �� �
<br />•�l,,: Borrower shall promptly discharge any lien which has prioriry over this Secvrity Instniment unless Borrower:(a)a�rees in . .
<br />-` � • , wmting to the payment of the obllgation secured by the lien in a marmer acceptable to Lender; (b)cantests in good faith the lien .
<br /> �=�`_ : � :„. . by. or defends against enforcement of the lien in, tegal proceedings which in the I.ender's opinion operate to prevent the
<br /> r enforcement of the lien;or(c)secures from the holder of the lien an agreement satisfactory to Lender snbordinating the lien to . �
<br /> � ':�°'. . this 5ecnrity instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over
<br /> ±��,�< r this Security lnstrument. Lender may give Borrower a notice identifying the lien.Bdrrower shall satisfy the tien or take.one or � �
<br /> `�:�.:�s � more of the actions set farth above within 10 days of the giving of notice. • . ' �.
<br /> ?�=::�t. . , ..
<br /> '�'=� " '. • ' - Form 3028 9/80
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