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<br /> TUGfiTHBR W1TH uil the improvements now ar herecilter erected on thd pcoperty,and ull easements,uppurtenances.and
<br /> fixtures no�v ur heeeufter A part of the property. All replucements and addit3o�ys shall ulsa be cavered by this Securlty
<br /> (�.gtnsment.A!1 of!he foregoing is referred tw in thia SccurIty Insirument os the"PropErry."
<br /> �ORROWBR COVENANTS that Barrower is InwPully seised of thE estate hereby conveyed and ha5 the right to�rant and
<br /> canvay tho Propc�ty and thut the Property is unencumbered.except for encumbrunces of eecarcl. Borrower warrants and wifl
<br /> defend genecaUy the t�tle to tha Property ugainst dl claims und demands,aub�ert ta uny encumbrances of record.
<br /> THIS SECURITY INSTRUMENT combinES unifarm covenunts far nnttanal use and non-unifacm covenants with Umited
<br /> vurfations by judsdIctfon to constitute n unifarm secudry instrument covedng reul pruperty. -
<br /> UNIFORM COVBNANTS. Borrawer und L.ender covenur►t and ogree as follows:
<br /> !.Payment of Prtnctpwl and Intcres3; PrPppyment aad Late Charges. Borrowcr shnit promptly pay when due the
<br /> principal of and Interest on the debt evjdenoecl by the Naie und any prepaymcnt und lute ch�rges due under the Nota.
<br /> 2.F`unds for Texes utid insurnrtce.Subjcxt ta applicable luw or to u wr�tten wniver by L.ender, Borrower shall pay to
<br /> 1.ender on the duy monthly payments are due under the Note.until the Note is pald in full.u sum("Funds")for:(a)yearly taxes
<br /> • und essessn�ents which mny Rttein priority aver this Secudty Instrument as a tien an the Property:(b)yearly leaschotd payments
<br /> or ginund rents on the Ptoperty, if any;(c)yearly haz�rd or property insurance premiums;(d)yearly flood insurance precniums,
<br /> if nny;(e)yes�rly mortgage insurunce premiums. if any; and(�any sums puynble by Borrower to Lender.in accordence with
<br /> the pmvfsions of paragraph 8,In Iteu of tha puyment of mortgage insurnnce pcemIums.These items are callad "E,scnow Items."
<br /> L.ender mny, at any time� collec:t and hold Funds!n an amount rtot to excced the maxtrnum amount a lender for a fiederally
<br /> r�lutod mortgage loan may require for Borrower's escrow uacoant uader tha federat Real Estate Setttement Procedures Act of
<br /> 197�as ameuded from t3me to time, 12 U.S.C. Sectian 2601 et seq. ('R�SPA").unless anather law that applies to the Funds
<br /> sets u lesser amount. If so. Lender may.ut any dme.collece and hold Funds in an amount not to exceEd th�lesser amonnt.
<br /> L.ender may estimate the amount of Funds due on tha basis of current data and cpasonable estimates of expendltures of tutat+e
<br /> 6scrow Items ar otherwls�in accardanoe wIth appllcable law. ,
<br /> The Funds shall be held In an iasdtudon whose drposits are insuted by a federal agency. [nswmentality, br endty
<br /> (including I.ender.if Lender is such en instihttion)or in any Federal Hortee Loan Bank.l.cuder shalt appty the Funds t�pay the
<br /> Escrow[tems. Lender may nat charge Borcower for holding and applying the Funds.annually analyzing the escrow axount.or
<br /> verifying the Escrow Items.wless Lender pays Borrower interest on the Funds and applicable law pernuts Lender tc�Rqalce such
<br /> a chcuge. However.Lender muy re�utre Borrower w pay a on�time charge for an independeat real estate ta�c repo�tarag service
<br /> used by Lender in connection witd thia toan. unless appllcable !aw provides othenvise. Unless an agreemant is rnade or
<br /> a}�plicable law requires interest to be paid,L�ender shall not be requi�e,d to pay Borrower eny intenst or earnings on the Funds.
<br /> Eorr�wr_.r emt Iender may agree in wddng. however.that interest shall be paid oa the Funds. I.ender shell give to Borrower,
<br /> �cvlthou�;�ttJarge,au annual axoundng of th�Funds.showing credits and debits to the Fu�ds and the purpose for which each
<br /> debit to tYto Funds wa4 made.The Funds are piedged as addidonal securlcy for xli sums secured by Wis Securicy Instaument.
<br /> If the Fwida held by I.ender exoeed the amounta pemntted to be held by appltcable law.Lendcr shall account to Borrower
<br /> for the exass Funds in accordance with the requiremenu of applicable law. If the amount of tbe Funds held by i.ender at any
<br /> � time is not sufficlent ta pay the Escrow Items when due.Lender may so notify Born►wer ia wrlting,anA,in such case aomower
<br /> shall pay to I.ender the amount necessary to mxke up the deficiency. Borrower shall malce up tha deficien�y in na more than
<br /> twetve rnomhly payments,at Lender's sole discretion. �
<br /> Upon payment in fuU of atl sums secured by th�s Securiry Instmment. L.ender shall prompdy refund to Borrower a�y
<br /> Funds held by Lender.If.under paragraph 21,Lender sl�all aoqulre or sell the�+opeity,Lender.prtor to the acquisStIon or sele
<br /> of tho Prc+perty.shall apply any Funds held 8y L.ender at►he time of acquIsltion or sale as a credit against the sums sec�red by
<br /> this Seatrity Instrument.
<br /> 3.Applicatton of Ff�ymeat9.Unless applicable law proeides athenviso.all payments reoejved by Lender under paragsephs
<br /> 1 and 2 shall be upplied:ficst, to any prepayment charges due under the Note;seoot�d.to bimounts payable under paragraph 2;
<br /> i third.to interest due;fouith.to principal duo;and tast.to any late charges due under the Notc. . •
<br /> , 4.Cl�arges; Lien�v.Borrower shall pay all taxes, acsessments,charges, fines end impositions uttr�butable co the Propeity
<br /> • which may attaln prlorIty over this Secadty Inshument,and leasehold payments or growyd ret►ts, if any.Sanower st�all pay
<br /> these abligations in the nwrmer pmv[ded in paragmph 2.or if not patd in tha�manner,Bc�trbwer stiali pay Wem on tlme dlre�tly
<br /> - to the perr.An owed payment Borrower shull promptly fumish to Lender all notIas of amounta to be paid under this paragraph.
<br /> [f Borrawer makes these payments dire.ctly.Borrower shall promptly fumish to l.ender re�eipts evidencin�the payments.
<br /> Borrower shall pmmpdy discharge any lien which has pdorlty over this Security Instrument unless Borrower:(n)agrces in
<br /> writing to the payment of the obligutlon aecure�by the Ifen in a manner acxeptable tn Lender;(b)oontests in good fntth the lien
<br /> by. or defends against enforcement of the lien in. legal proceedings whlch in the Lender's opiaion operate to prevent the
<br /> . enfotoement of the lten;or(c) secures from tha holder of the lien an agreement satisfactory to Lendsr suboMinating the Iten to
<br /> thls Sa,�urity Instrument. If Lender det�ermines that any part of the Properry is subject to a lien which may attain priority over
<br /> this Security Instrumant,I.�nder may give Horrowcr a notice identifying the lien.Botrawer shail satisfy the lien or t�lce one or
<br /> more of the actions set forth above within 10 duys of the giving of notice. ,
<br /> Form 9028 9/80
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