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<br /> TOOETHER WITH al!tl�e improvcmentF now on c�rcaftcr crccted on the propeny. i►nd all�:acemen'�,�upp�urtcn� � s.iutd
<br /> fixtures now or hereafter u part af the Pr�perty. All repincementa aid additiUnw ShA41 ulru de covered by this Security
<br /> in5trument.AU of thc famgoing!s rcFcrrcd to in d�is Sccurity Inytrumr,nt ati the "i'rupcny.' —
<br /> BORRQWBR COVENANTS titut Borrower is lowfuily rcciscd uf thc esmte hcreby convcyc�i und hox the ribht tu g�unt w�d �
<br /> convey the Prapeny and thut the Praperty iE unencuribercal. except fur encumbrurtcc+oi rccorJ.Bt�rmwer wArronts und will
<br /> defend geneeally the tttle ta the Property Aguinst all ctuims und demandx,aubject to uny cncumbru�tccs af recorJ.
<br /> THI5 SECURITY INSTRUMENT cambincw unifarm cavcnunta for nnttunul u�c and nan-unifinm cuvcn:u►ta with limited ;
<br /> vAriations by jurisdictton u�constitute u unifarm sa:urity insuument covering reui property. —
<br /> UNIFORM COVBNANTS.Bonower and Lcrtdcr cavonant and agrcc as foilowa: _
<br /> 1. Payment of Princtpal and lnterest; Prepayment ead I.ate Charp�ps. Barrower shall pramptiy puy when due thc
<br /> prlrtcip�l of und intcrest on the debt evidenced by the Note and eny prepaymcnt und late charges duc under th�hntc.
<br /> 2. Fw�ds for Taxes tutd Insurance. Subject to nppHcAble law or to u wdtten wuiver by I.ender.Bocrower shull puy to
<br /> l..ender on the day monthly pnyments are duc undar the Note.until the Note is pafd:n futl.u sum ('Funds")fur:(u)yearly uuccs —
<br /> and:issessmenu which may attain priority over this Secucity Instrument us u lien on the Pmperty: tb)yarly Ieasehald puyments
<br /> or gFaund rents on the PrapeRy.if any;(C)yeariy hazand or property insurancr premiums;(J)yeurly ilaud lnsu.�uncu prcmiums, -
<br /> if any:(e)yearly rnortga�e insurnnce premlums,If any: nnd(�any sums payable by Botrower to L.ender,in accordance with
<br /> the pmvlstons af paragraph S. in lieu af the payment of mortgAge insurnnce premiwns.These items ure culled "Escrow Items."
<br /> l.ender may, at any time. collect ar�d hold Funds in un amount not to exceed thc maximum arn�unt e lender fur a federally
<br /> �+elatod mortgage loan may require for Borrower's escrow account under the federel Real Estate Settlenient Qrocedures Act of
<br /> 1974 as sunended from time ta time. 12 U.S.G.Section 2601 et seq. ("RESPA"). untess another law that applies co the Funds
<br /> sets a lesser amottat. If so, I.ender may, at any time, collect and hatd Funds in an arreount not to exceed the lesser amnunt.
<br /> Lender may estimate the cunount af Funds due on the basis of current data artd reasonable estimates of expenditures of future
<br /> �crQ�Y ltems or othecwise in anx�r�l»�u:e w;t8 a�pti:.eble taw. �
<br /> Tfie Funds stutll be held in an instituuon whose deposits ure insured by a federal agency. instrnmentatity. or entity
<br /> (includin�i.endcr.if Lender is such an insutution)or in any Federal Home Loan BAnk. Lender shall apply the Funds to pay the
<br /> Escrow Items. i..e.uoler may not churge Borrawer for holding and applying the Funds.unnualiy enalyzing the escrow account,or
<br /> verifyin�the Fsc+ow Items,unless I.ender•pays Borrower interest on the Funds and appllcable law pemtits I..ender to mske such
<br /> a cherge. However. Lender may require Borrower to pay a one-time charge for an lndcpendent real estate tex reporting service
<br /> used by Lender in connection with this loan. unless applicablo law provIdes otherwise. Unless an agreement Is made or
<br /> applicable tAw re�uires interest to be paid. Lender shall not be required to pay Borrower any iaterest or eamings an the Funds.
<br /> Borrower and Lender may agree in writing.however.that interest shall be paid on the Funds. Lender shall�ive to Borrower,
<br /> w;thnut charge,an e�mual accountin�of the Funds. showin�credtts and debits to the Funds und the purpose for which each
<br /> debit to the Funds was made.The Funds er+e pledsed as add[tional security for all sums secured by this Sacurity Instrument.
<br /> If the Funds held by Lender exceed the umouats pemiitte�to be held by applicable law.L.ender shell axount to Borrower
<br /> for the excess Funds in accordence wlth the requirements of applicable law.If the amount of the Funds held by Lr.nder at any
<br /> time is not suffic[ent to pay the Facrow Items when due.Lender may so rtotlfy Borrower in writ�ng, and, ia such case Borrower
<br /> shall pay to L.ender the am�unt necessary to make up the deficienc�•. Borrower shall make up tde deficiency ia Ro more than
<br /> twelve monttily payments.at Ler�der's sole discrctton.
<br /> Upon paymerat in futl of all sums secured by this Security Insuument. Lender shall prornptly refund to Borrower any
<br /> Funds held by Ler�ier.If.under parageaph 21.I.ender shall acquir�e or sell the Propetly.Lender. pri�r to the acqutsition or sale
<br /> of the Property,s4�a11 epply any Funds held by Lender at the time of acquisidon or sale es a cresiit against the sums secured by
<br /> this Security Inst�ument.
<br /> 3.Applicatton of Payments.Unless appiicuble law provides othenvise,atl payments received by Lender under paragmphs
<br /> 1 and 2 shall be applied: first. to any prepayment charges due urtdsr the Note;second. to amoun►s payable under paragcaph 2;
<br /> third.to interest due:fourth,to principal due:and last,co any lute charges due under the Note.
<br /> 4.Ct�arges;3.iens. Borrower shall pay all taxes. assess�ents, churges, fines and impositions amibutabte to the Property
<br /> which may attain priority over this Security Insuument. and leasehold payments or g�ound rents. if eny.Bnrrower shall pay
<br /> these obligations in the manner provided in paragraph 2�or if not paid in that manner,Borrower shall pay them on t�me directly
<br /> to the person owed payment. Borrower shail pmmptly furnish to Lender al!notices of amounts to be peid under this paragraph.
<br /> If Borrower makes these payments directly.Borrower shull promptly fumIsh to I.ender receipts evfdencing the payments. -
<br /> Borrower chall prompdy discluirge any lien which has priority over thls Se�;urity Instrument unless Borrower: (n)agrees in
<br /> writing to che payment of the obligauon secumd by�he lien in a nuuueer uu�►ta�le to I.ender:tb}conicsts in gaod fa{th thc lien °
<br /> 6y. or defends asainst enforcement of the lien in. legal proccedings which in the Lender's apinion operate to prevent the
<br /> enforcemen[of the IIen;or(c)secures from the holder of the lien an agreement satisfactory to[.ender subordinating the lien to
<br /> this Security Inshument. If Lender determines that any pan of the Property is subjert to a lien which may attuin prtodty over
<br /> this Security Instrument. Lend�r may give Borrower a notice identifying the lien. Borrawer shall satlsfy the Sien or take one or —
<br /> more of thcr ections set forth above with3n !0 days of the giving of notice.
<br /> Porm 30Y8 8/90
<br /> PopO 2 ot 8
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