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<br /> - --=•-:�:�$ 'I�OCiQ'i'flF.�t W'i'I'H al thc fmprovcmct�t�rmw an c�ru�ftor crcciccf on tho prapcny. end all caccrosnt��eppurtrnan�e.+, ar+d -;__-_--
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<br /> fixturo.s naw or hueafba a prt uP Iho proput9•Ail repl�cmcnu wid addiibns alall abo bo c�vcrod by Ihi�Socurlty In�trumcr►G
<br /> ��"`°��_,-a All of the faeaoi�g ia rafcrrcA w ln Ihi�Socurlty dnstrumcnt a�tha"I�rapcaty."
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<br /> BURROWAR CUVflNAIV'CS ttu�t Borrowe�r ie I�wfully ne6xod af tho estato hertby convcycd end has tb�o dght to gia+it wid -
<br />.�=A���� ccmvty �ha Prapeity �nd that tt�e Pmputy is unencumbered,exccpt fnr encumbtances nf reccrd.Bcxrower werr�snts end wW ��—�__-
<br /> � defe�d genu�lly tho Utte w tho PropertY a8ainst all clntms and demurtds,subjoct ta any ertcumbrsnces of recard. �t ��p� _:-
<br /> THiS SECURlTY INSTRUMANT combincs uniform covenrnts far natbnal uso end nc�n•unlform covenaiets with limital ����.���}�� 1-
<br /> �,.._t,,,,�� va�tati�ns by jurLsdicdon to constiww a unlfann sec�:rity instrumenl c�vering rcal Qropect�r. f h��; �x;�T�,.�.,-,
<br /> '�h r �:.:y��; UMFORM COVENAIV'I'S.Borrowcr and Lc�tder covenant and agree�s follows: •��-'• '�^ ti�`�?��-�`
<br /> W,;��,, ��' 1.Ptr�nnent ot Princtp4l�nd Inter'st;Prep�yment and Ls�te ChRrqes. Borrawer shall pmmpdy pay whcn duc tli� :•;� :1� . r -��ti;�
<br /> .�,�;-:��_, ., ment and Imte chargcs due under thc Note. '`,����•'
<br /> ;_�;�.� prtncipal of snd interest on tht debt evidcnced by the Nute end nnY PT�PeY .. .i�°'�"�:=�.
<br />' � , z.Euods tor Twces Wnd InsurAnce. 5ubject to appllcahle law or to a written weiver by Lender. Borrower shall pay to �':'"':_'•*�'-;,��,,�-`f�
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<br />;;'�""`�'.�"".; •,, Lendcr on�ha day monthly pt►yments erc duc under the Note,until the Note ts pald in full,a sum(Funds')for:(a)yearly taxes . s:..,-• �,,,,.� _
<br /> ` ��+`"'`� � end assessmerits which may attain prioriry ovar this Securiry Instrument as a lien on Ihe Property:(b)Yeariy leasehold payments � �;�°+,�, .
<br /> `'�''�T� � or ground ccnt9 on the P[operty.if a�►Y;(c)Yetuly ha�ard or property insurance premiums:(d)Ycarly flood insurance premiums,if , ,' ,�=
<br /> ''{"'''-'j�'` if an •and n� sum» a uble by Borrawer to I.ender,in accordance with the .`��'-�r-
<br /> � �1y;(e)Yearty rrsortgagc insurr.nce premiums, Y. (�? Y P Y -
<br /> =,� �,; provisions of paragraph 8. in Heu of the payment of mortgagc incurarccts premiums. 'f7►ese items arc called "Escrow Items:' '�'a� __
<br /> � • � Leader may,at any time,ccllect and hold Funds in an am�a�u►c nat to ezcced the ma�cimum emount a lcndr.r for u federally relaied ` �����k '._
<br /> �- _.4i_;�-�;�:: n�a,-i��i�m.ay re�ttks for �orrower's esr*ow a!�cnunt under�t►e Federal Real Estate SeWement Procedures Act of 1974 as j. ..,°_ _,.�. .:. .. .
<br /> — �_.. nin. . n�oWCDA"1 »lnca anntlher law that en�liCS tD tflC FUIIdS SCLS 31CSSGC L_ t ba. r.a.�..�...:
<br />_ ,.— &mettaeu trom time w dmv. i�u.S.C.s".:;�.v��..�,�..�.��?• .- - •� � - — —
<br /> ��� amount If so.L.ender ma .st any time,collect and[iold Fuuds in� �nount not to exceed the lesscr amounG Lender may 1 :; ��
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<br /> � estimau the amount of Funds due on the basis of cunei►!data a�d reasonable esdmatea af expenditures of fuwre Escrow Itcins or •,z� ��,
<br /> • t� otherwise in accordance with appllcabk Iaw. . �': --
<br /> a� 'I1�e Funds shaU be held in an insatudon whose deposits are insured by a federal agency,insuumentelity,or entity(including '`:y���c
<br /> .``�7, Lender. if Lendcr is such an insdtution)or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow .,{'S� -'-
<br /> �� - Items.Lender may not charge Borrower for hoiding and applyu�g the Funds,annually analyzing she escrow account,or verifying ,,�
<br /> ,; ,;' � L��F�r�;;.I P � �� P P fiay�R�rmwer imerest an the Funds and applicable law pennits Lender w make such a charge.
<br /> � • Hawever,Lender may require Borrower to pay a one-time charge for an independent real estate ta�c reporting service used by i :
<br /> . . , � ,, I,endet in connecdon with this loan. unless applicable law provides otherwise.Unless an agreement is ma�e or appficuble law i::; .,•
<br /> � . requires interest to be paid.Lender siwU not 6e required to pay Borrower eny interest or earnings on the Funds.Borrowes and
<br /> , y s;;. Lender may agee in wridng,however,that interest shall 6e paid on the Funds.I.snder shall give to Sorcower,without charge,�
<br /> � annual accounring of the Fitnds.showing credits and debits to the Funds and the purpose for which each debit ro the Funds wus � f
<br /> ,'ti; made.The F►u�ds aro pledged as additional security for all sums secured by this Securiry Instnimen�
<br /> " ti,. ` ' ' If the Funds held by Lender eaceed the amounts permitted to be held by appUcablc law,Lender shall account to Borrower for ��j�
<br /> the eacess�unds in accordancc with the requirements of apglicable law.If the amount of ihe Funds held Uy Lender ac any time is ,, ..
<br /> �� � �. not sufficient w pay the Escmw Items when due,Lender may so notify Borrower in wriuing,and,in such case Borrower sh�ill pay +�'��o'
<br /> ° co Lender the umount necessary to muYo up the deficiency. Bocrower shall make up the defeciency in no more than twelve ���.�� ,,,,
<br /> • � • montlily payments,at L,endcr's sole discretion. '•,;,;�''�"i""�:-
<br /> " LJpon payment in full of all sums secured by this Securiry Instrument,Lender shall prompdy refund to Eorro�ver any Funds ; .; : ���w
<br /> � ,� � held by LRndcr. If,undcr par.�raph 21.Lendcr shall acquirc or scll the Property, Lcndcr,prior to the acquisition or salo of Ihe `-'���
<br /> �� � Pmperty.aha�l apply any Funds held by Lender at the ame of acquisi�ion or sale as a credit against the sums secured by this �
<br /> , �� . .y Security Instsument
<br /> ''� 3.Appikatbn of Payments. Unlcss a}tpHcable law provides otherwise,all payments received by Lender under paragraphs I . °
<br /> .,� 1 and 2 shall be apglied: first, to any prepaymcnt chargcs due under the IVote;second. to amounts payable under paragraph 2; ��
<br /> ' third�to interrst due;fawnh.to principal due:and las4��+Y��charges dne�ndcr tl�e Nqte. I -�
<br /> ' � � 4.Charges;Liens. IIo�rower shall pay all taxes, assessmienu.charges. fines and imposidons actribc:abl�s w che Property ,
<br /> ' • which may attaii►priority over this Security Instrument,and leasehold payments or ground rents,if any.Borrower shrsll pay ihesc I
<br /> . � obligadons in the n�anner providcd in paragraph 2.or if not paid in that manner,Sorrower shall pay them on time directly to ihe
<br /> °, person owed payment Borrower shall prompily furnish to Lcnder all notices of amounts to be paid under this pazag�h.If I
<br /> Borrower makcs thesc paymenL�direcUy,Borr.ower shall promptly fumish w LenAer receipts evidencing the payments. �
<br /> ` : Bormwer stiall promptly discharge any lien which has prioriry over this Securiry Insaument unless Bomnwer.(a)agrees in �
<br /> � writing W the payment of the obligatfon secured by the lien in a mssnner acccptable to L.ender.(b)contests in good faith the lien
<br /> . .` by, or defends against enfoncement of the tien in, tzgal proceedings which in the Lender's opiniun operate to prevent the I ,
<br /> . enforcement of the lien;or(c) secuns from the holder of the lien an a�uement satisfactory to Lender subordinating tha lien to
<br /> ��. � this Sccuriry Instrumcnt If Lendct determi'�rs that eny part of the Property is subject to a licn which may attai�n priority over this '
<br /> , �. Security Insttumen�Lendu may giva Bairowea a notice identifying Ihe lien. Borrower shall satisfy thc lien or tuke one or mare '�
<br /> ' � ' of thc actions set farth abovc wi8�in 10 days of the giving of natix.
<br /> • Foem 3028 9/80
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