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<br />� ' � TO�BTHBR WITH all the impmvements aow or heceafter crected on the pmperty.ead all eascmenls.appurtenancea,aad
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<br /> . � fixtures aow or hereaRer a part of the property. Ali replaccments aad additiona shull alao be covered by this Secwity
<br />___ Instrument.All of the furegoing!s refermd to in this Security Insuuraent as the"Propecty."
<br /> � BORitOWER COVENANTS that Bonower ls lawtlslly seisal of the estete hereby coaveyed and has the right to graat and
<br /> '� convey the Properry and thet the Pcoperty is uncncumbered, except for encumbrances of recor�. Borrower warrants cend wi11
<br /> defend geaerally We title to the Praperty egaiast all clalms and dcmands,subject to any encumbrances of record. �
<br />'� • THIS SECURITY INSTRIJMENT combines un(form wveaaats for astioaat e�se and noa=uniform covena�ats wlth timited
<br />�.�. varlatlons by jurisdictIoa to consdtute a uaiform se�urity iastcumeat covering real property. `
<br />'�i- . UNIPORM COVBNANTS.Borrower and Leader covenaat and agree as follows:
<br /> ,1. 1. Payment of Prladpal and Interest; Prepaymeat end Late Cbarges. Boaower shall promptly pay whea due tha
<br /> , priacipal of and interest oa the debt evideaced by the Note and aay prepayment aad latc chatges due w►der the Notc.
<br /> . 2. Fuads for Taxcg and Iasurance. Subject to applicable law or to a written waiver by Lendar,Borrower shall pay to •
<br /> Lender on the day monthly payments ere due under the Nate,untU the Note is paid in tWl.a swn("Fuada")for: (a)yearly ta�ces
<br /> aad assesaments which muy uttain priority over this SecurIry Insuument as a lien oa the Property;(b)yearly leasehold paymeats .
<br />� � or grouad renta on tha Property,if any:(c)Yearly hazard or pmperty iasui�uc;e ps+emiums:(d)Yearly flood insurance premiums. � _ ,
<br /> " ' if any�(e)Yearly mortgage insurnacc preaiiums�if any:and{�aay sums payabla by Borrower to I,ender,in accordaace wiW . , . .
<br /> the pmvtaions of paragraph 6. in lieu of the payment of mortgage fnsuraace premiuma.These items are called"Escrow Items."
<br /> ' Ixnder muy. at any tjrae. collect and hold Funds ia aa amount net w exeeed the maximum amouat a lender for a fe�ernlly „
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<br /> - "r. " related mortgage loan may raqulrE for Barrower's escmw accouat under the federal Real Estate Seulement Pmcedures Act of �
<br /> '�'. 1974 as amended irom dme to dme, 12 U.S.C. Section 2601 et seq.('RESPA"),wiless aaother law that appiics to the Funds ' •
<br /> - • sets a lesser amount. If so, I.ender may.at aay time, collect and hold Funda in an amouat not to exceed the lesser amouat.
<br /> Lender may estimate the aaiouat of Funda due on the basis of current data aad reasonable esdmates of expeadiwres of Poture . . : �
<br />- 7 Escrow Items or othenvise in accordance with applicable law. � '.. ,.�.� � --
<br /> The Funds shall be held in an iastitution whose deposits are insured by a federal agency, instn�mentality, or endty •��� ' r,---�
<br /> (including L.ender.lf Lender is such an institution)or in aay Federal Home Loaa Bank.I.eader shall apply the Funds to pay t he ." -� `
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<br /> , Fscmw Items.Lender may aot charge Borrower for holding and applying the Fnads,aanualiy analyziag the escmw accowu,or t :; �
<br /> -- -.---- - vcrifyiag the FAarars Isecss�t:aless Lentfer gaye Borrower intere.ct un the Funds and applicable law pertnite Lender to make auch
<br /> a charge.However, I.eader may require Borrower w Pay a one•dme chArge for en independent real estate teu reporting sesvice ;, :
<br /> " used by Lender �e connection with this loaa, uNess applicable law provides otherwise. Ualess un agreemeat ls made or ` ;. ;� '
<br /> - applicable law requtres lnterest to be paid,Lender shall not be required to pay Borrower any interest or earaiaga on the Funds. - �, �
<br /> --� , , Bormwer aad I.�nder may agree in writfng,however�that interest shall be paid oa the Funde. L�nder aball give to Borrower, . ;� ; '! •
<br />-��' � without charge. an annual accaw�tin8 of the Fuuds.ahowiug credits aad debita to the Funda and the puipose for which each � �i, .
<br />-��� debit ro t6e Fuads aas made.The Funds are pledged es addidonal securIty for all aums secured by t61a Socuriry Insuvment. ° i i �
<br />_�. If the Funds held by Lender exceed the aznouats permitted to be held by applicable law.Lender shalt acaount w Borrower '•
<br /> for che excesa Funds ia aca,rdaace with the requtremeats of applicable law.If the amount of the Fuada held by Lender at any ° �
<br />�� tlme is not sufficient to pay the Escrow Item»when due.I.ender may so aotify Borrower in writing,and,la such case Borrower
<br /> .�� " shell pay to Lender the amouat necessazy to make up the deficiency. Borrower shall make vp the deflciency in ao niore than �,��,.—�,.__
<br /> twelve moathlY payments.at Leader's sale discndon. ',�=_ =�
<br /> „' ' ppoa payment in fiill of aU sums secured by this Security Insuument, Lender ahell promptly refl�ad w Boccower any
<br /> � Fuads held by I.ender.If, under paragraph 21, Lender aball acquire or seII the Property,Leader�prtor to the acyuisition or sale �'"'�°-_
<br /> of the Property. shaU apply aAy Fuads held by Lender at the ttme of acqulsidon or sale as a ctedit egainst the sums secured by ���
<br />' . } thia Security Insaument. , �" '
<br />`� 3.AppUcalloa of Paymeuts. Unless applicable law pmvides other�vise,aU payments received by Lender under para�gapha �'
<br />�� 1 and 2 ahall be applled: flrst,to any prepayment charges due under che Note; second�to amounts payable uadet paragiaph 2; �� �
<br />=� thlyd,to interest due;fourth,to principal due;aad last,to any lau charges due under the Note. .�°`,H.°'�
<br /> +�, � 4. Charges;Liens. Borrowsr shall pay all tfuces.essessments.charges,fines and impositions attrlbuta6le to the Property � �?!!'�"'"�
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<br /> .. whlcb may attain prto�ity ever this Secutity Insuument, end leesehold payments or gmund rents,if any.Borrower shall p�y
<br /> `� '�. ' these obligations fa the manner provided in paragraph 2.or if aot paid in that manaer,Borrower shaU pay them on time dicectly °. � '�
<br /> � to the person owed payment. Borrower shall pmmpdy furnish w L.ender all aotices of amounts to be paid ander this paragraph. : ."
<br /> If Borrower makea these paymenta direcdy�Borrower shall promptly flunish to Lender receIpta evidencing the payments.
<br /> , �,. . . Bonower shall prompdy discharge aay lten which has prlorlry over this Security Instcument unless Bonower: (a)agreea in
<br /> �' wrltiag to the payment of the obligation secured by the lien ia a manner scceptable to L.euder;(b)cantests in good faith the[ten
<br /> � 't�'� by, or defends against enforcement of the lten in� legal procced�ngs which in the L,ender's opinion operate to prevent the
<br /> , enfoicement of the lien;or(c)secures from ths holder of the liea au a�reement satisfactory to I.ender aubondiaatiag the lien to
<br /> �� this 5ecudty Inauument. If I,ender determtaes that any part of the Property is subject to a lieu wlilch may attain priority over �
<br /> '' , , thie Security Instmment� Lender may give Borrow�r a notice ideutifying the lien.Bonower shall satisty the lien or take one or
<br />'e,� I more of the actions set forth above within 10 days of the giving of nodce. .
<br /> � .� „ • Fortn 3028 8/80
<br /> �.. ' ��BR!NE1 r��oet voeo soe e iNUUS:»��
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