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<br /> l 70(iETIdER WITH ull the impravements now or hereafter erected on the propCrty,und ull erisements,appurtenances,and
<br /> � es
<br /> fixtures nuw or hereafter a part af the property. All replacements and �dditiona shall alsp be cc�vered by this Securiry
<br /> � instrumcm.All af the foregoing is refened ta in this Sccur�ry I�strument nK the'Property."
<br /> BORROWER COVENANTS that Horrawer!g Inwfully�fsed of the estnte hemby conveyed artd ha.4 the dght to grant and
<br />'� wnvey the Property and thut the Property is unencumbered, except for encurnbrnnces af record. Hanower wnrrants and wlll
<br /> _ defend geaernily the dtl�to the Property agutast atl ciuims und demundA,subject co any encumbrances of record.
<br /> y� THIS SECURITY INSTRUMBNT cambines unlfarm covenants far notionnl use und non-untform covenants wlth limlted
<br /> = vartutions by jurisdiction to constitute a unifotm security instrument covering real property.
<br />:;i UNIFORM COVENANTS.Borrower und Lender covenant and asree as followa:
<br /> , 1. Peyment of Principul and Interest; PrPpuyme�at and Late Chur�es. Sarrower shall pramptly pay when due the
<br /> _ principal of and intec+�ct un the debt evIdenced by the Note und eny prcpuymenl und late chnrges due under the Note.
<br /> � 2. Fund9 for Taxes and Insw'sutce. Subject to upplicuble law or to a wdtten waiver by Lender, Borrower shall pay to
<br />_� Lender an the duy monthly payments are duc undcr the Nate.unttl the Note is paid in full.a sum("Funds")for:(a)yearly taxes
<br />. � and assessmenus which may attain pdority over this Secu�ity Instrument tts a lien on the Property:(b)yearlp leasehald payments
<br />;� or gmund reats an the Property.if any;(c)yeurly hazarcl or pruperty insurance premlums;(d)yearly flood insurance premiutns,
<br /> = iP any; (e)yearly mortgage insumnce premiums. if any,and(��ny sums payable by Borrower to Ixnder,in accordance wIth
<br /> - the provistons of paragraph 8. in lieu of thc payment of mort�age insurance premiums.These items are called "Bscraw Items."
<br />�' I.endcr muy, ut any time,collect nnd huld Funds in un amount nat to exceed the maximum amount a lender for a federaUy __
<br /> � related moR�uge laun may mquire for Borrower's escrow uccount under the federal Real Fstate Settlement Procedures Act of
<br /> - 1974 a�amended from time to tim�. 12 U.S.C. SectIon 2601 er seq.("RESPA"). unless anosher law that applies w the Funds
<br /> .� sets a lesser umount. If so. L.ender may, at eny time,collect end hold Funds in an nmaant not to exceed the lesser amount. �
<br /> Lender may estimate the amaunt of Funds due on the basis of current data and reasonaY,le esti�nates of expenditures of fur,ue
<br />;,_� Pscrow Items or otherwise in IIccordance with applicable law.
<br />_� The Funds shall be held in an institution whose deposits are tnsurad by a fe�eral agency. instrumentality�or entiry
<br />�_ (includjng Lender.if i.ender is such ur►institutlon>or in an�r Federal Home Loan Ban�c.Lender shaq apply the Funds to pay the
<br />�"n Escrow Items.I.ender may not charge Borrower for holding and upplyin�the Funds,annually unalyzing the escrow account. or
<br />_= verifying tl�e Esc�+nw Items.unless Lender pays Borrowcr interest on the Funds and nppltatble law pertaits I,ender to make such
<br /> - • a ch�e.Howe�er,Lender may r+equin Bornower to pay a one-time charge for an independent real estate tex reportiag service
<br /> useii by L.ender in oonnection with this loan. unless applicable law provides otherwise. Unless an agreemeut Is made or
<br />— applicable law requires interest to be paid,Lender shall not be mquired to pay Borrower any intemst or earaings on the Funds.
<br />'' Bormwer and Leader may agree in wridns, however, that Interest shall be paid on the Funds. Lender shall sive to�orrower,
<br />- wlthout charge. an annual stccounting of the Funds. showiag cr�edits artd debits to the Funds and the purpose far wh�ch each
<br />_= debit to the Funds wes made.The Furtds are pledged as additional security for all sutns secured by this Security Inst�ument.
<br />-= If the Funds held by I.ender eac�ed the amounts permitted to be held by applicable law,L.ender shall acoount to 8orrower
<br /> _ for the excess Funds in accurdance with the requirements of applicable law.If the amount of the Funds held by Lender at any
<br />__ dme ia not suflictent to pay the Escrow Items when due,I.ender may so notify Borrower in wRting.and,ia such cas$Borrower
<br /> shall pay ro L.ender the amount necessery to meke up the defictency.Sorrower shall make up the deficlency in no m�re than
<br /> twelve monthly payments,at L.ender's sale discretion.
<br /> Upon �rayment in full of all sums securec! by this Secudty Instrument. I.ender shall promptly refund W Bar%wer any
<br /> Furtda held by Lender.If,under paragrnph 21.I.ender shall acquire or sell the Property.I.ender.prior to the acquisjtion or sale
<br /> __ of ti�e Property. shall apply any Funds held by I.ender at the time of acquisition or sale as a cr�dit a�ainst the sums secured by
<br /> __ thIs Securlty Instrument. , �
<br /> 3.AppltcatMn of I'ayments.Unless appfic'sible law provIdes othenvise,nit payments received by LEmder uader paragraphs
<br /> 1 and 2 shall be applIed: first. co any prepayment charges due under the Note:sccond.to amounta payable under paragraph 2;
<br /> _ third,ta nnterest due;founh,to principai due:end last.to any late charges due under the Nate.�
<br /> _ 4.Ct�arges;Ltens.Bon+ower shall pay atl texes.assessments.charges, tines and impdsiHans ctttrlbutable to tde�operty
<br /> which may ausin priorIty over this Securiry Instntment,and leasehc�ld payments or ground rentg. if uny. Borrowet shall pay
<br />� these obligations In the manner provided in paragmph 2.or if not paid M.thnt manner.Borrower sl�ail pay them on timo dit�actiy '
<br /> ' ro the person owed payment.Burrvwer shail prumptiy fuu��l�to Lender atl noticcs of amoussw to bc paid under this parsgrsgb. -
<br /> � If Borrawer makes these payments dirertly.Borrower shall promptly wmish to I.ender receipts evidencing the payments.
<br /> - Borrower shali pnomptly discharge any lien which has priority over this Secudt�Instrument untess Borrower:(a)agcoes in
<br /> = wr�ting W the payment of the obligation securod by the Iten In a mxnner acceptstbte to Ixnder;(b)mntests In good feith the lien
<br />-° by. or defends against enforcement of the lien in. legul procoedings which in the Lender's optniun operate w prevent the
<br /> ' cnfomxment of the Ilen;or(c)secures from the holder of the lien an agrcement satisfactory to Lendesr gubordinat[ng the lien to
<br /> = this 5ecudry Instrument. If L,ender determines thnt any part of the Property is subject to a lien which may attaln priority over
<br /> � thia Secv�rity Instrument.Lender may give Borrowcr a notice identifying the lien. Borrower ahall satisfy the lien or tatce one or
<br /> - more of the sciions set forth above within 10 dnys of the�iving of notice.
<br /> - Form 3028 9/80
<br /> P�ge Y of 6
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