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<br /> ' TOGETNER WITH uli thc impr�wemcntti�ww ur hereaflcr czected on the property, und ail wscmcnts, uppurtenuncc,.and
<br /> fiature+ n��w or hercuQer a part of thc pruperty. All repl�cmcnts and i�dditions shull alsii he covercd by this Security
<br /> tinstrument. Ail of thc foregoing is refcrreJ t��in thi,Security Intitrument us tl�c"Yraperty."
<br /> HORRUWER COV6NANTS thut Born�wcr i,luwfully uiticd af thc c�tt�tc hrrcby ranvcyeci and hu.ti thc right to grunt and
<br /> • ccmvey the Prop�rty und tl�at the Pr��perty is unencumbered,exrept fur encumbraurc� u(ru:ard. Borro�ver w�rrnntti aixi will
<br /> ° defend generully the titic to thc Pmperty ugainyt all claims und demands,subjert to uny eacumbrunees of record,
<br /> ' THIS SECUR[TY INSTRUMENT combines uniform covenants for nutionai use und nun-uniform covenants with limited
<br /> � • �°�^�' vuriationti by jurisdiction ta ccrostitute a unifomi+ccuriry instrumcnt cavcring rcnl property. "
<br /> �� UNIFORM COVENANTS. Borcowcr and l.endcr coven�nt and ugrcc as fall��ws:
<br /> �• 1. PAyment af Principal �tnd Inter�h Prepayment and Late CharR�. Borrowcr shall promptly pny when due the .,
<br /> principal of and interest on the debt evidenced by the N�xe and any prepuyment and latc cfiarges due under the Note.
<br /> 2. Funds for Taxes and Insurance. Subjcct to applicable law or to a written waivcr by I.ender, Borrawer shall pay to
<br /> � Lendcr on the day m�nthly payments are due undcr the Natc,until the Note is paid in full.u sum("Funds") for:(a)yearly taxes
<br /> " and a+sessments which may uttain priority over tliis Sec:urity Instrument as a lien on the Property;(b)yc,�trly Icusehald payments
<br /> ` �, or ground rents on the Propeny. if uny;(c)yearly hazard or property insurance premiums;(d)yearly floacl insurunce premiums. , .
<br /> � ' if any: (e)yearly mortga$e insurance premiums, if any:and(f�any sums payabie by Borrower to l.ender. in uccordance with
<br /> . � the provisians af paragraph R,in lieu of the pnyment of mortguge insurunce premiums. These items are called'Escrow Items." 5
<br /> Lender may, ut any time,c•�llect und hold Funds in :�n amount not to exceed the maximum amount a lender fur a federally , ;,�..;
<br /> �, " � retated mongage laan may reyui�e fi�►•BoRawcr's cscrow a:count under the f'edernl Real Estate Senlement Proceduxe.s Act oQ _.___. _
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<br /> ' . !�14 as amended from time to ti�ne, 12 U.S.C.Section 2601 et sey. ("RESPA"),unless unother law that appttes to the Funds .,'
<br /> � sets a lesser amount. If so, Lender muy. at any time, collect and hold Funds in an nmount na t�exceed che lesser amount. #.,F�,...
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<br /> � � L.ende�may estimate the amount of Funds due an the basis of current data and reasonable estimates of expenditures of future .
<br /> �"'��"''s�' Escrow Items or otherwise in nccordance with upplicuble l�w.
<br /> �: ';;,i:; •.��:;. . • �'���y.•�
<br /> ••'��'����� � The Funds shall be held in nn institution whose deposits are insured by a federal agency, instrumentality, or entity , �;
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<br /> •. ;,� (including Lender,if I.ender is such an institution)or in nny Federal Home L.�an Bank. Lender shall apply the Funds to pay the _ "—'
<br /> Escraw Items. Lender may nat charge Borrower for holding and applying the Fnnds,annually analyzin�the escrow account,or ��
<br />, . � • verifying the Escrow Items, unless L,ender pays Borrower interest on the Funds and upplicable law permits Lender to make such t,_
<br /> , a=harge. H�we��er. Lender rnny require Barcower to pay a one-time charge for an independent real estate tax reporting service . -�,�
<br /> „ used by Lender in cannection with this luan, uniess applicable law provides otherwise. i3niess an ugccxtiiicrd is madc or .__-_
<br /> app(icnble luw requires interest to be paid, L.ender shall not be requircd to pay Bonower uny interest or eurnin�s on the Funds. ;,� ;;���
<br /> . �� BoROwer and Lender may agree in writin�,however. thut interest shall be paid on the �unds. I.cnder shall give to Borrower, �:7:`^; :;_ __
<br /> � �• without charge, an annual uccounting of the Funds, showing credits and debits tu the Funds and the purpose for which each .
<br /> � debit to the Funds ws�.s made.The Funds ure pledged as additlo�al security for all sums secured by this Security Instniment. �
<br /> If Nie Funds held by Lender exceed the umounts pemiitted to be held by applicuble law.L.ender shali account to Bonower '�t'. -___
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<br /> ' for the excess Funds in acc�rdance with the requirements af applicnble law. If the amount of the Funds held by Lender at any ,.'t_,. , .
<br /> � time is not sufficient to pay the �scrow Items when due,Lender muy so notify Borrower in writing,and,in such case Borrower •:•,;�.;;_._
<br /> , �� ., shall pay to L.ender the amoune necessary to make up the dc�ciency. Borrower ShaU makc up the deficlency in no more than �.,;�,�__�`�
<br /> twelve monthly payments,at Lend�r's sole discretion. _
<br /> , ,y, �, Upon puyment in full of nil sums secured by this Saurity instrument, L.ender shall pramptly refund to Banower uny _
<br /> • • - Funds held by I.ender. If,under parasraph 21.Lender shall acquire ar sell the Property,L.ender,prtor to the ucquisltion or sale �' `• �,,.
<br /> " of th�Property,shall apply any Funds held by Lender at the time of acqutsition or sale as a credit ugftinst the sums secured by :�,,, _
<br /> ' this Security Instrument. "�•' '-._
<br /> � � 3.Applicatlon of Poyments.Unless npplicable law provides otherwise,all pay�nents received by l.ender under paragruphs `:��.L_.._
<br /> : '`^� , I and 2 sh�►1 be applied:first, to any prepuyment charges due under the Note; secand,to sunounts payable under para�raph 2: y;.t,�:-
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<br /> third,to intere.vt due:fourth,to principal due;and lust,to any late chur�es due under the Note. '''�"+'',
<br /> �� - ,�'. 4.Charges;Liens.Bonower shail pay a{l taxes,assessments,churges,fines und impositions attributable to the Property �:`��-;••--
<br /> .�` which may attnin priority ovcr this Securiry Instrument, and leasehold payments or ground rents, if any. Borrower shall puy _i;��_�__—
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<br /> ° . these obligattons in the manner provided in paragruph 2,or if not pai d in t hat mnnner. B o r r o w e r s h u i l p a y theiu uu timc dircctl y _
<br /> : � � � to the person owed payment.Borrower shall promptly furnish ro Lender all notices of amounta ta be puid umler this parugcaph. , -
<br /> ` If Borrower makes these payments directly,Borrower shall pr�mptly farnish to Lendcr receipts evidencin�the puyments. : . .
<br /> ,• ` Borrower shall prompt�y dischurge any lien which has priority over this Security Instrument unless Borrower: (a)agrees in .
<br /> ' � writin�to thc puyment of the obligation secured by the licn in a manner acceptable to i.cndcr, tb)wntests in�ood fuith the lien ..
<br /> �- � � by, or defends ngainst cnforcement nf the Ilen in. legul pr�:eedin�s which in the L.ender's opinion operute to prevent the
<br /> ' " enforcement of the lien;or lc) secures from the halder of the lien un agreement satisfactory tu Lender subordinAting the lien to
<br /> � � this Securiry Instrument.It'Lendcr dctcrmines that any part af thc Property is subject to a licn which may uttuin priority over
<br /> ' this Security Instrument.La:nder may givc Borrowcr a nvticc idcntiFying the licn. Horrower shall satisfy thc licn or take one or
<br /> � more of thc actions set forth ubove within 10 days of the�iving of notice. ;
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<br /> ' �� Form 3028 9/80 ' ,
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