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<br /> 10�3 =
<br /> 'I'OCiE1'HP.R WITH all tho improvements now or hemafter ere�ted on the pmperty.and Nl easements,appurtenances. ',_
<br /> �nd fixwrES now or hem.�tter u part of the prnperty. All mplacements and nddljiona ehWl elso ba covered by this Sccurlty ,=
<br /> InatcumenG All of the foregaing is referned w in this Security lnsuument us 1he"Property." ;
<br /> AORROWBR COV6NANf'S ihut Sortowcr is lowfully se�sed af the estute hereby a�nveyed nnd has the dght W grant
<br /> and convey the Property and that the Propeny is unencumbered.except for encumbrances of�+ecord. Borrnwe�'wasraits and
<br /> wiU defend generally tlte title to thcs Prpperty ag�last al1 clairas and demunds.subject w eny encumbrances of record. ,
<br /> THIS SECURITY 1NS1'RUMENT wmbines uniform wvenanta for nationul use and aon-uniform covenants with =
<br /> IimSted variations by jurisdlction to constitute Q unifom�securlty iusuuraent covering ceal pmperty• —
<br /> UNIFORM COVENANTS• Bomowerand I.ender covennnt end agree as follows: when due tlte
<br /> 1. tbyatent oi Prindgal aad Interest;P�w{wymeat and Late Char�ea Boaower shaU promptlY PaY
<br /> principal of eud Interest on the debt evldenced by the Note and any prepayraeat aad late charges due nnder the Note. ,
<br /> 2, Fluuds[ar�ues iutd Insarance.SubJect to applicoble law or to a wdtten w�ver by Leuder,Borrower shall pay w
<br /> Lender on the day monthly payaneats are due under the Note.untll the Nate is paid ia fuil.a sum("Fands")for. (a)yearly i
<br /> tanes aad assessments wl�ich may attain pdorlty over this Security losttument as a ifen on the Proper►y;(b)yeariy leasehold ,
<br /> PaYments or ground r�nta on the Px+nperty. if any: (c) Yearly hazard or property insuxance pnmiums: (d) Yearly flood
<br /> insurance premiums.if any; (e) yea:ly moctgage iasurance premiums. if aay:and(� a�►Y suma PaYable by Borrower to
<br /> I.ender,ia accordance with the pmvistoas of paragraph 8.in lieu of the r.ayment of mortgage �nsurence premi�ms. "lhese ;
<br /> items are ealied"Sseraw Items.° Lender may.at any Wue.coilcct and hold Fands fn an emount aot to exeeed the me�cimum
<br /> amount a lender for a federally relnted mortgage loaz►may require for Barmwer's escrow account under the federal Real !
<br /> Sstate Sealement Pcncedums Act of 197�3 as ameaded from dme to dme.12 U.S.C.§2601 et seq.("RFSPA").unless auother �
<br /> law that applies to the Pr►nds sets a lesser amount �f so,Lender may,at any dme.coUect and hold Fw�ds ia en amount not to �
<br /> ex�ee the lessgr amount, Lender may essi�aate �'�e amount of �nds due on the basis of �iuz+ent data and c+easonuble
<br /> esdttiadtes of expertdiaiees of futut+e Escrow Items or othenarlse in accordance with epplIcable law.
<br /> 'me Fu�tda shall be held in an iaStitudan whose deposits t+re iasuted by a federal agertcy,instcumencaliry. or entity
<br /> (including I.endbr.'�f'L.e�der is such an[ns6tuttdn)or ia any Federal Home Loan Bank. Lendet ahall apply the Funds to pay.
<br /> the Esc[ow Ite�s. I.ender may noi chatge Botrower for hoiding and applying the Fands.anuuelly enalyzin8 the esetuw
<br /> account, ar vetifyis�g the Escrow Items. unless I.ender pays Borrower interest on tbe Fuads aad appllcable law p�muits
<br /> I,ender to make such a c6arge. However,Lender may m.yuire Botrower w pay a one-time cha�ge for en independent r�l
<br /> egtate ta�c repordng servtce used by Lender in coanecdon w1W this loan.unless appliceble law provldes otheivvise. Unlesa tu�
<br /> av�eement is made or appllcable law reqwre.s interest to be�d,Lender shaU not be required w pay Borrower su►y interest ar ,
<br /> earttings,on the Futtds. Bonnwer and Leader may agree in writing.however.that interest sbaiI bu pnId un ti�ee€�imds.Lca�
<br /> sha11 give to Botrower,wl2hout charge,an ennusl accuiutdng of the Funds,showing crcdIta sad debits to tLe Funds and the
<br /> Putposa for which euch c�ebit to the Flucds was made. The Puads are pledged as�ddidonal secudry for all sums secnred by ;
<br />. this Securlty Insaumen� � • ''
<br /> � 1F the Punds heid by Lender exceed ttte amowiu permitted o01�e held by appucable law, L.ender shall account ta
<br /> Bore+ower for the excess Funds in accordaace wlth the reciuirements of applicable law. If the i�mount of the Funds held by
<br /> Lender at uny time is not suf6cient to pay ttte Escrow Items when due.Lender may so aotify`Sorrower in wtiting,and,in
<br /> uf
<br /> such case Bomower shaU pay to I.ender the amount aecessary t�m�ke up the.deficiency. Boirower sbaA malce up the
<br /> defici¢acy in no more thaa twelve monthly payments,at Leader's sole discretIon. ��d��orrower any
<br /> Upon payment in fi�ll of all s�uas secuc�ed by this Securlty Inst�'ament.Lender shall promptly ;
<br /> Funds held by Leader. ff,under pazagraplf'21;Lender ehait acquire or scll dte Pmperty,I.endar�prior to the ecquisition or
<br /> sale of the Pmperty.shall apply any Punds held by Lendec at the drae of acquisition or sale as a c�edit against the sums
<br /> secured by thIs Secnnty InsMwien� . •,•, •
<br /> 3. Applicatfon oi Puyraeata. Ualess appllcable law provldes otherwise.uU payments�ceived by I.ender �ader
<br /> paragrepha 1 and 2 shall be applied:tirst,ro any prepayacent charges due under ths Note;second.to emovnts paYable undcr
<br /> paragraph 2;third,W in�due;fquttb:ro priactpal due:aad last,w,any late charges due under the Note.
<br /> • 4. Chaiges; E.iena. Borrowei s'hall pay ali te�ces.assessment�charges,finea nnnd imposiHona attrlbutable to thE
<br /> picoperty which ruay attain prlority over Ws Securlty Instivaaent,anU le�sehold pay�ents or grouad rents.if any. Bormwer
<br /> shall pay thase ubligattona in the marmer provided ia para�raph 2.or if aot paid in that manner.Bonower shall pay them on
<br /> dme directiy to the persoi�owed payment Bormwer shall pmmptly fumish to I.ender ell n�tices of amounts to be paid uader
<br /> � thi� paragraph. If Homower makes these payments directiy.Bomower shell promptly fumish to Lender receipta evIdencing
<br /> the paymen�s.
<br /> Botrawer shall pmmpdy discharge any lien wMch has priorlty over thls Securlty Insuun►ent uNess Borrower:(a)agiees
<br /> in wrldng to the payraent of the obligadon secured by the lien in a mnnner acceptable to Lender.(b)contests in good faith We
<br /> llea by,or defends agai�st enforcement of the llen fa.legal procee�ings wti{ch ia the Lender�opinion operata w provent the
<br /> enfozcement of the iten;or fe)secu�es from the holder of the lien an agreement satiafactory to Lender subordinating the lien
<br /> . to thia Security Insuum�nt If Lender derermines that any part of tha�k�perty is subf ect to e lien which may attain pdorlty .
<br /> over this Socauity Insuument,L.ender may givo Borrower a notice iden fyjng the lien. Bo�rower shali sat�sfy the lien or take
<br /> one ar more of the actlons sst forth above within 10 days of We giving of noBce.
<br /> S. Hepsrd or Property Insuranae. Borro�ver shaU keep the Improvements now e�cisting or hec+eatter erected on tttE
<br /> Propecty insured against toas by fire,hezerds included wit6in the term"eateaded covernge"an@ any other hezards,inciucJing
<br /> floods or flooding.for w4�ich Leader requires insurance. 1'hja insuraace shnll be maintained in the amounts and f��r the
<br /> �bim 30t8 9/'90 (page 1 oj6 pages)
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