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<br /> �-=.+��'��,�;'�,;:'�: '!'OCi�TI�'sR WI'Tf�all the improvcmcnts now an c�rcaQcr crectrd�n tha property,and e11 caYmrnts.appuatair�nccs,nc►d ---
<br /> �-"` -= Cucwrw now a haeafux a pact of tho property.All rcpincunents and eddldona shall also ba cavered by this Securiry Insuumen�
<br /> ,'"'�' '�,".`.�� All of the foregaing is rcferred W in this Sccuriry Instn�ment av the"Property." _-
<br /> ----,v.,.,�ieaa::,;,� SORI�QWBR COVHNANTS that Borrowu is lawful�y s�ised of the estats F�ere6y co��veyed&�d has d�e iig(��w gran��aut �
<br /> —= convey the Pmpepty and that the Property is unencumt�ered,except for encumbrances of record.Bormwer v�amants and wlll �
<br /> -�°�""°�� defend gcnerally the title to�he Propaty�gainst aU ciaims a�d demands,subjxt w any encun�brances af record. _-____
<br /> a
<br /> - �'� THIS SECURITY INSTRUMBNT combines uniform covenants for national use and non-uniform covenants with Iimited ____—.
<br /> :-::�..:,-�•�..-�. .._---•
<br /> ,�+�°��''• ^` t� variarions by jurisdlcdon to consdtute n unifarm scxurity instcumont covering real property. =�=-
<br /> �-'•-��°'��'-^'° LINIFORM COVENAPI'PS.Borrower and Lender covenant ur►d agree as follawe: �,�
<br /> �.., ., � �; -.�
<br /> ��'%2i�•i ��� r 1.Payment of PrincipAl ae.�Inter�t;Prepayment and Late ChArp,es. Boxrower si►all promptly pay whcn dac th� ��-„„';_°__-
<br />��"`!°''�Y '�,'�s principal of��d intcaest on the debt avidenced by the Note and any prepayment pnd lat�chsugcs due under the Note. _____
<br />�•;t`�;E,::i }� ..
<br /> • " 2.Funds for Tax�and Insurance. Sub�ect t� applicable law or ta a wr�itten w�iver by L.ender, Bonower sh�ll puy w
<br /> `h' � '��' Lendcr on the day monthly paymen�s aro dnc undcr thc Notc,undl the Note Ls paid!n fuU,a sum("Funds") for.(a)yearly texes '�.�'�`
<br /> 't�. , �.,:.>s
<br /> °��' ' • � and assessments which may a�ir►pdodry ovcr thi�Security Instmment as a llen on the Property;(b)yearly leaehold paymcnts � -'
<br /> __ , ,,,� � . 1 '~u
<br /> or gm�und rentv on tho Property,if any:(c)Yearly hazard or pmperty insurancc premiums�(d)Yearly tlood insuraace premiums,if �i��y=
<br /> .� any; (e)Ycarly mortgege insurance prcmfutns. � �;�I ;--.
<br /> if any:and (�any sums payable by Bonowrr to L,ender.in accardanco with tha :�.:�:.
<br /> -� �� �• provisions of paragraph S, in Gcu of the payment of mortgage insura�ce premiums. '17►ese items ara ct�lllled'Escrow Items.' , :
<br /> ,;.,�- - - -._.,..__._
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<br /> _ ., � Lcnder may,at�u,y rwua.i.uAec:t attd Itotd�vttds in sss at[t�tust not to e?tcPed the maximnm amannt sllender far n fedetally telated ._�a::
<br /> � � . � � _ � uso,�guge losn may rcquir fo;Sorrov�:r's e:..^rotv�^cou.^•.t un@er the federa!Rea!!?st?t�Settlament Ptocedures Act of 197A as
<br /> �.�`..
<br /> . :;; amended from time to qme.12 U.S.�.Section 2b01 et seq. ("Ii6SPA"),unless enother law that applies w the Pund.9 sets a lesser f�,�4;:;
<br /> .� - ' emoun� If so, L.ender muy, at eny tirne,ooUect antII hold Funds in an amount nat w excecd tha lesser ttmount Lender may ,-•;i'��;
<br /> t 2.,)1.j:
<br /> �x�� estimmate the a�r�ount of Funds due on the basLs of current data and reasonable e.adrnates of expendiauPS of fuUue Escmw Items or ,r!.r�'�..
<br /> a
<br /> ^� �. othetwise in eccordance with upplicable!aw.
<br /> ;�•
<br /> . 'Ihe Fus�ds sliall be held in an institution whose deposits are insured by a federal agcncy,u,strurneatality.o:cndiy(�ncinding .
<br /> � � Lendar.if T.ea�ee is such an LisdwUon}or in a,�y Fi;derat Hone Loan Bank.I.cnder shall apply the Funds t�pay ihe�cro�v �'��-'�•�.
<br /> �� ��„ ° Items.Ix.nder may not charge Bozrower for holding and agplying the Flands,annpsilly analyzing the escrow acaounL or verifyIng ,
<br /> the Bscrow Items,unless I.ender paya Boaower interest on the Fund.a and appllcable Iaw pemu4c Lender to make such a charge.
<br /> � '" However,L.cnder may require Borrower to pay a one•dme charge for en independent rcal estate tax reporting servioe used by '••x�;
<br /> • " y Lender in connecdon with this loan,unless ag�plicable law provIdes otherwlse.Unless au agreement is made or applicable law '�;;•
<br /> �� requires interest to be paid.L.ender ahall not t�e required to pay Bormwer any interest ar earnings on rhe Funds. Bomnwer end �
<br /> , ' Lendc-r may agrce in wridng,howevu,that interest sholl bc paid on the Funds.Lender shall give to Horrower,without chargo,An
<br /> � annual accounting of the Funds,showing credits and debits to the Funds and the purpose for which each debit tn the Funds was '�'
<br /> msde.'Ilte Funds are pledged av addidonal security for all sums secured by this Securlty Instnunent '�,'` •
<br /> . If the Funds held by Lender exceed the amounts permiaed to be 6e1d by applicable taw,Lender shall account to Borrower for
<br /> � � the eacess Ptrnds ln accordance with the requirements of applicuble law.If the amount of the Funds held by Lender at any time is
<br /> ' ' not suftictent w pay the Pscnow Items when due.Lender may so notify Bonower in writing,and,in such case Bomnwcr shall pay
<br /> .' '� W Lender the amount necessary to make up the de�ciency. Borrower shall make up the deCcciency in no more►han twelve
<br /> " ' monthly payments,at Lender's soie discredon.
<br /> � � �. >• � Upon payment in full of all sums secured by this Sec�uity Instrument,Lender shell prompdy refund to Botrower any Funds
<br /> ' � ° held by Lender.If,under paragiaph 21,Lender shall acquire or sell the Property,Lender,prior to the scquisidon or sale of the
<br /> ' �'�,T Property,shall apply any Funds held by Lender at the time of acqu3sidon or sale as a credit agninst the sums secured by this
<br /> Security Insuument � .
<br /> : •�. 3.Application of Payments. Unless applicable law provides otherwise.all payments received by Lender under p.�uagraphs
<br /> ,x: 1 and 2 shall be epplied:first,to any prepayment char�es dae under the Note; second,to amounts payable under paragraph 2;
<br /> - ,� . third,to interest due;fourth,to principal due;and last,to any late chargcs due under the Note.
<br /> 4.Charges;Liend. Borrower shaU pay all taxes,asscssmcnts. charges, fines and impo�idons attributable to Ihe Property „
<br /> � � which�ray auain priority over this Securiry Instrument,and leasehold payments or ground rents,if any.Sonower shall pay these
<br /> � obligations in the manner provided in paragraph 2,or if nat paid in that manner,Bocrower shall pay them on time dicectly to the
<br /> ' : person owed paymenG Borrower shall prompUy furnish to L.ender all nodces of amounts to be paid wider ihis paragraph. If
<br /> � " .��� Bonower makes thesa paymcnts dieectly,Borrower shall promptly furnish to Lender receipts evidencing the payments.
<br /> ' � . Borrower shall promptly discharge any lien which has priority over this Securiry Instrument un�less Bo:rower: (a) agrees in
<br /> � � �vridr►g to the payment of the obligaaon secured by the lien in a manner accaptable to Lender,(b)contests in goad faith the lien �"
<br /> by. or defends against enfurccment of the lien in, iegal procecdings which in thc Lender's upinion operate to prcve�tt the
<br /> enforcement of ihe lien; or(c)secures from the ho2der of ihe lien an agreement satisfactory to I.ender subordinaYing the lien to
<br /> this Seauity Instmmenc.If Lcnder determines that any part of the Property is subjc�t to a lien which may attaia priority over this j
<br /> ' Security Instrument,Lcnder may give Borrower a notice identifying the lie�n.Bonower shall satisfy the lien or take one or more �
<br /> � ,. of the acdons sGt forth ttbovc within t0 days of the giving of nQ�ice. �
<br /> Form 302t! 8/90 i
<br /> �•8R(NE)1a2i2� Peps 2 ot 0 Inniiis: �
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