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<br /> T(?q�fHER WITH ntl thc improvtmcn�w now AI'�*�cement�wtd addt�o�s shull nt�o bc �o erc� by thi��urity
<br /> fixwrex n��w or hettafter n part af Ihe praperty. eP
<br /> Instnamcnt. Afl af the faregaing is r�ferrccf to in thi�Saurity Instrument na the "Propeny."
<br /> �iORROWFR COV�NANTS thut Barrowcr is InwCully c,eised of the estatc hcreby eonveycd anzl hag the right to grunt xnd
<br /> camCy the Property nnd thut the Property is unencumbered. except Cor cncumbranccs of�ecord.9orro�ver warmnte and wt�l
<br /> defeixl gcnerully the tide to t�►e Property aBalnst at�clnfa�and demnnds,FubJert ro uny encumbrances of record• c
<br /> THIS SECURITY INSTRUMENr comisines unlform cavenurtts for nutianal usc and nun•uniformcovcnants with limital
<br /> vuriattans by jurisdiction ta constitute n uniform�curity instrument covcring real property. _
<br /> UN[FURM COVt3NANT8.Bosower nnd l.ender�ent and Lute Chae�es�Bonower shap ptomp[ly pay�vhcn due the
<br /> 1. Pi►yment oi Principal and Interest; PrepaY re a mPnt und late charges due under the Note.
<br /> princ�ipal af and inter�st un the debt evideitcal by the Nate und any p p Y
<br /> 2. Fhnds for Toxes und I�arancc•Sub,�eci to appltcable law or to s�wdtten wuiver by L.ender, �otrower shull pay to
<br /> Lender on tho day monthly payments nre due undcr ti�e Nole.until the Note is paid in fiuli.a sum t'Funds")for:(a)yearly wxes
<br /> and a5scssments which m�y attain prlority over this Secur�ty Instrument as a liert an the Property:(b) yeuelY�wsehold payments
<br /> ar groun�l rencs an the Praperry. if any:(c)yenrly hawrd or property insurance pren�iums:(d)yenrly ttaod ins,ucance prem�ums,
<br /> if siny:(e)ycurly mongage insumnce pmmiums. if any: and(fl uny sums payuble by Bomower W L.c�er,in tucordax►ce witl►
<br /> the provisions af parnsraph 8.ia lleu af the payment of mortgagc insurance premiums• T'hese items are c�l�� ��a°w Items."
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<br /> Lender may.at any time, collect und hold Tur�ds in an amount not to exceod the maximum amount e IendQr for a fedeml y
<br /> r¢lated rrtortguge lo:ir►may require for Borrower's esc�ow ncWU�it under thc federa!Real Bstete Seulement�'rocedums�►ct of
<br /> =gT����}{n,�t:+ne co time. 12 U.S.C. Section 2601 et seq. ('RE5PA7.unless another Inw that app8es to the Funds
<br /> sets n Iesser umount.If so. Ler�der may. at nny d�e, colleci nnJ hold Fands in un amount uoi u, cx.:�the 1�r se�s•
<br />' Lender may estimate the wnount of Funds clue on the basis of current data and reasonab�e estimates of expenditures of future
<br /> Esemw Itemc or otherwise in acconiane�w�th aPP�i�ble luw.
<br /> The �tu�ds stu+ll be h�ld in an lnstitudon whose depostts ure insured by u federal agency. instNmentalitY• or entity
<br /> (including I.cnder.if Lender is such an tnstitution)or in any Fedetal Home I..aan Bu►►1�•Lender shatl apply the Furtds co pay We
<br /> Esemw Items. Lemder may npt charge Borrou•tr for holdiag and a}�pfying the Funds,annuslly anslyzing the escrow account.or
<br /> verifying thx Escrow Items.unless 1.ender pays Borrower interest on the Funds und nPP�tcuble luw pecmits Lender to u�alre sach
<br /> � u churge. However.Lender may n�ciuire Borrower to pay a�`�l�taw�rovid othenvisea U� en agree��ig made io
<br /> used by Lender In connection with this loan. unless app� p ��,yPF an Interest or eaminBe�n the Funds.
<br /> � applicable law�aites intetest to be paici.i.ende�sh�ti �ri�t ik'r'�u�s�ta psy Y .
<br /> � gorroWer and Lencler may agroe in writing. however, thnt interest shull be paid on the Funds. Lendet shall �"for which each
<br /> without churge.nn annnal accounting of the Funds,showing credlts and debits to the Funds and the Ex►cpu
<br /> debit to the Funds wns�nade.The Funds are ptedged es+�ddltlonstl security for e�l licnbl�w�.Q,.enderssh�ar.ca°t°B°�wer
<br /> If the Funds held by I.ender cacEed�he amounts permitted to be 6eld by app
<br /> for ehe excess Fwids in eccotdance with the requtrements af uPplicable law. If tlie amouat of the Funds held by L.ender at enY
<br /> pme is not sufficient w pay tbe Escrow Icems when due.Lender may ao notify Botrower in wridng.and.in such a�sse Bormwer
<br /> sUall pay to�.ender th�e umount neoessary ta make up the deRciency.Borro�ver shall muke up the de�iciency in no more than
<br /> twelve monthly paymenu,at Lenler's solc discrerion.
<br /> Upon payment in full of ull sums secured by this S�xvrity Insnvment,Lxnder shall pmmptly refund ro Borrower em►
<br /> Funds lield by Ltnder. If.urnler pa:agraph Z�. Lender shali acquire or sell the PrnpertY.Lender�Pnor�o the ucquisition or sule
<br /> of the Property,shnit IIAP�Y�Y�unds held by L�der at the time of acquisition or sale as a ctrdit agninu WD sums se�r°d by
<br /> this Security Instrument.
<br /> 3.Application of Payments.Unless applicable la�v p�vides otherwise.ai{payinenta reoeivod by[xnder undet pamgrap s
<br /> ' 1 and 2 shull be npplied: first.to any prepayment cdarges duc under the Note; second.w amuunts WY'ab�e under paragraph 2:
<br /> third,to inu:rESt due:fouc�h.to principal due:su�d last.to any late chatges due under the Note.
<br /> 4.Charges; Ltens. Bon+nwer shall pay ull tuxes.assessme�►ts.char6es.fines und imposiNons attributable to the I'ropotty
<br /> which mny attatn priority over ttus Security Ivsttument,und teasehold paymenis or ground rents,if any. Borrower shalt pay
<br /> � �these obligations in the manner prnvlded in paragrnph 2.or if not paid in.that m�m►er.Borrower s➢w�ll pay them on dme disectly
<br /> to the�erson owed payment.Borrower shall promptly fumish to Lender atl norix�cs of emounts to be p�id under t1�is paisgcaph•
<br /> _ If Horn►wer makes these paYments directlY,lfotrower shnU pruuy�tly fw�us,h W 3:crtdes receipLS evi!{tacing ttu paymnts. .
<br /> Horrower shall pmmptly dischat};e any�ien which has prioritp over this Secuiicy Instnunemi unless Borrower.(a)uge�'s m
<br /> • writing to the payment of the obli�a�ticr��secuc�ed by the 1{en In a manner uoceptable to Lender:(b)contests in good f+�ith the lien
<br /> • ..by. or defends against enforcement�0�4'the lien in, legal pTOCeedings wlticti �n the L�nder's opinlon opernte to prevent tlte
<br /> enforcement of the lien;or(c)aecutes from the holder of the lien an agreemens sadsfnctory to Lender subordinating the IIen to
<br /> this Security Instrument. If Lender de�erm3nes that any part of the Propert5�Is subjer.t to u lien wtdch may attuin priority over
<br /> �h�s Security Inswment. Lender may��ve Borro�'er a notice ideitc��ying the lten.Borrower shall satisfy the lien or take one or
<br /> more uf the actions set fotth above��thtn 10 days of the gtving of norice.
<br /> Fam�028 9/80
<br /> Pe�e 2 of 8
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