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<br /> � � TOGETHER W�TY3 all the improvements now�or herea�er erected on pmgerty,ancl ali easetaents,apgurtenanoes,anfl � , �
<br /> , � � ` ; fucturas now or hereafte� a part of the Pmperty. All mpiacemeuts aiid addiaons shall also be covered by this Secarity • ' �,'. -
<br /> ;�:L. ` ',`...�� � Insuument.Ait af the faregnia►g is referred tv in this Security Iastrument as the°Property." , ; _. . --
<br /> ` � ' � '��� ` BORROW�R COVENANTS that Borsow�r ts lawfulty seised of the estate here8y conve�ed and tras the rigM to grant and -- , _
<br /> � ' � �.. ' convey the�Froperty and that the Progzrty �.s unencum6ered, except for encum6rances of�cord. Borrower wattants and wiil � � . �
<br /> . �,` . � . �"�_
<br /> . . . defend geaeraliy the dde to the Pruperty against all claims and demand,.subject to arey encumbrances of recbtd. • . � �
<br /> ' � " • � � THIS SECUItTTY IDiiSTRUMEMf coinbines uniform coveeants S'or national use and non-uniform coveaazits a+ith limited � ,�
<br /> , vanadons by jurisdiction to constimte a uniforr�security instmment c`overina real property.. `.'`'' `� . ^ . _
<br /> , • , ' UIVIFORM COVENANTS.Barrower and Lender covenant and agree as follows: • ,!�. � i�� � � .�r_
<br /> . . � i � 1. Pagrmtent of Pcnncipal sud I�erest: ETrePSS+meirt a�@ Late Chaiges. Borrower shall P�mPVY PaY wb�u due the � ' : . _
<br /> �- � , principal of and intemst on tHe debf evidenced.by the Nafe and any prepayment and Iate charges due under the Note. - -r=� - . =• �=-=•-�s"
<br /> " � .�.—" 2.F�ds for Taxes aad Insm�aace. Subject to appticable!aw or to a written waiver by Lender. Borrawer shaIl pay to -` --= , -
<br /> . , �. '`'` -`'`; ' Lender on the da monthl a . . •.
<br /> y y p yrnenu are d�e under the Note,until the Note is paid in fult,a sum("Fuuds"1 for,.(a)yearry taxes � � �.
<br /> , • and assessments which may attain priority over this Secufity Inswment as a lien on the Pr�perty;(b)yeauiy leasehold payments . • : ,
<br /> . . � •. or groaqd renis on the Property,if any:(c)yearly hazard or property insuracice premiunos;(d)Yearly fIc�od insurance preminms. . . .� -•�:'-�:--:'`.
<br /> , ura ,�
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<br /> ' �°" ' if auy;fe)Year[y mortgage insuranre premiums:if any:and(f}ang sums payable by Borrower to Lender,in accordance with ...._:., �__.'... ---u-'-=
<br /> � '• � � the provisions of�paragraph 8.in lieu of the payment of mortgage insurance premiums.These items are c�lled"Escrow Items." �° �- = � .
<br /> �1 �,� Lendei may. at any time,collect and hold Funds in an amaunt not to exceed the maximum amount a lender for a federaliy �_
<br /> • , ' related mortgage loan may require for Borrower;s escrow account urtder the federal Rea3 Estate Settlement Procednres Act of : • .. ,�� �
<br /> • 1974 as amended from time eo time, 12 U.5.C.Sectioa 2601 er seq. ("RESPA"}.unless another_law tbmt applies to the Funds � •� '� .
<br /> � ' sets a tesser amwnt. If so, [.e�ider may, at any rime, collect and hpld Funds en an amount not to exceed the lesser amount. . . ���`:`- F,�:` �
<br /> '� • • Lender may estimate the amount of Funds due on the basis of current data and reasonabte esiimates of expenditures of fimue ' , �� . '
<br /> , .•„`�� Escrow Items ar oihenvise in accordance with applicable laa. • .' '
<br /> � - The Funds sha11 be heId in an institution whose deposits are insured by a federal agency, jnstrumentality, or entiry . � , ,. �' ,�•'_
<br /> , • ::.
<br /> � (including Lemier.if Lender is such an institution)or in any Fedetal Home Loan Bank.Lender shall apply the Funds to pay the • � . „
<br /> "�= ` • �Escrow Items.Lender ma not c e Borrotiver for holdin and l 'n the Funds.azmnail anai ' the escraw account.or ` `��
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<br /> , 1 , � �v�rifying the Escrow Items,unless Lender pays Borrawer interest on t6e�unds r�^d app�icz�'.�law permits Y.ender to iriarce such �� �: • � . �� ::':Y, .
<br /> �� ; . . ; a charge.Hawever.I.ender may require Borrau•er to pay a one-time charge for an independent real estate ta�c reporting service • � , �:�,
<br /> ' �;• . '. used by Lender in connection with this loan, unless applica6l� law provides otherwis�. Unless an agreement is made ar � ��.,;�
<br /> , • °" applicable law requires interest to be paid.Lender shall nat be required to pay Borrower ar4 interest or eamings on ths Funds. •
<br /> .. . ,.�'_�::
<br /> ,-,;�,�'� - Borra�ver and L.ender may agree in writicig. however, that interest shall be paid on the Fuads. Lertder shall give to Borrower, .- - - :� �;•;€• `
<br /> ' , . ' without charge, an annua!accoundng of the Funds,showing credits and debits to the Funds and the purpase for which each ��� .
<br /> t � .•,, '! debit to tfie Funds was made.The Funds ace pledged as additional.securiry for aIl sums secured by this Security Insuament ' • • ' .� �:�
<br /> " ° • � � s If the Funds hetd by Lender exceed the amounu pemutted to be held by applicable law. Lender shall account ta Borrower �� - �
<br /> � . ,. , .
<br /> � ,- for the eacess Funds in aecordance��ith the requirements of agplicabte law: if the amount e:the Funds held by Lender at any % '�� . � - ��
<br /> .y:
<br /> � � . !< • time is not sufficient to pay the Fscraw items when due.Lender may so notify Borrower in kriting,and,in such case Bonower • '
<br /> ' , , shaU pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than • . ', ��� : , `'
<br /> . • � : twelve monthly payme�s,at Lender's sole discretion. `• �J;�`�
<br /> . . • ,.��• Upon payment :n full of all sums secured by this Security Instrument. Lender shall promptly refund to Borrower any ; • �� ,�!j',,�,+
<br /> " . Funds held Hy Lender.If,uttder paragraph 2l. I.ender shall acquire or sell the Properry.Lender,prior to the acquisition or sale �-.� - �°-"+c �.. ..�
<br /> � • � " of the Property,shall apply any Funds held by l.ender at the time of acquisitian or sale as a credit against the sums secured by " . ' '
<br /> • � . � ' this Security Instrument. - ` >
<br /> �,.
<br /> ` ' 3.A Itcation of Pa ments.Unless a licable law rovides othenvise.all a ments received b Lender under ara hs ' �,;."�'�°
<br /> .. _ PP Y PP P P Y Y p B�P _
<br /> • I and 2 shall be applied: first.to any prepayment charges due under the Note:second,to amounts payable under paragraph 2; � �,���:•.
<br /> " � thirct,to interest due;founh,to principal due:and last,to any late charges due under the Note. . .. � .
<br /> � 4.Charges; Ltenc.Bonower shall pay all taxes.assessments,charges, fines and impositions anributable ro the Property . .
<br /> �., � , which may attain priority over this Security Instrument, and leasehold payments or ground r�nts, if any. Borrower shall pay . ' :
<br /> :. ttese obligations in the manner provided in paragaph 2,or if not paid in that manner.Bomawer shall pay them an`time directly .. .... _ _ .' .
<br /> - • . � � • to the person owed pa5nent. 8orrower shall promptly fumish to L.ender all notices of amounts to be paid under this paragraph. � •' '' '
<br /> - • � If Borrower makes these payments directly.Borrower shall promptly fumish to Lender receipss evidencing the payments. , � . �"�w�;��..•'
<br /> ' � Borrower shall pramptly discharge any lien which has priority over this Security Instrument unless Sorrower:(a)aa°rees in �• .
<br /> -. � . . � wridng to the payrnent of the obligation secured by the lien in a manner acceptable to Lender.(b)contests in good faith the lien
<br /> ��' by. or defends against enf�rcement of.the lien in, legal proceedings which in the L,cnder's opinion aperate to prevent the •� �� � �
<br /> .;�,;.,. . .
<br /> enforcement of the lien: or(c>secures from the holder of the lien an agrecment satisfactory tv Lender subordinating the licn to �
<br />- this Security Instrument. If I.ender determines that any part of the Property is subject ta a lien which may attain priority over
<br />._ , � this Secariry Instrument, Lender Tnay give Borrower a notice identifying the lien.Borrower.shali satisfy the lien or take one or
<br />_ . • �, mate of the actions sct forth above aithin 10 days of the giving of notice. .
<br /> � ' Farm 3b28 9/90 �
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