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<br /> I OGBTNEIt lVITH nU thc impravements no�v or hercafter crected on the property,nnd all casemcnts, appurtenanccs,and
<br /> fixtures nnw or IiercaQcr n pan of d�c propeny. All replaccments ,and udditions shall also bc covcred by this S�curtty
<br /> Instrument.All of tho faregoing ia refeaced to in thia Sccurit�r Instrument ns the'Propercy." ,.
<br /> �� �, Bi�RKOW�R COVENANTS thnt Borrowor ia lawflilly eciscd of the estatc hereby conveyed and hns thc�ight ta srant and
<br /> ° convey die Propeny nnd thnt the Frape�ty is unencumbcred, except !or encumbranses of record. Borrower wturants nnd will
<br /> , - defr,nd generally tha title w the Pro�xny aguinst all clalms and demands, subject to any enr.umbrances of record. .. �
<br /> TH1S SECURITY INSTRUM6NT combines uniform covenants for nntiana! usc nnd non-uniform cuvcnants�•�ith limlted �
<br /> ' .' ,�,�; var�ations by jurisdlction to constitute a unifor�n aecurity instrument uc�vertng real property.
<br /> ��� UNIFORM COVQNANT5.Bonower and L.cnder covenant and agree as foltows: :�'
<br /> ��`�y-� J' 1. 1'►iytctent at Princlpal ond Interest; Prepayment and I.ate Cherges. Bonower shall promptly pay when duc thc �
<br /> principal of and interest on the debt evidenced by tha Note and a�iy prepayment and 11te charges dua wider thc Note. : �:
<br /> '-` • ' 2. F�nds[or TAxes end Insurance. Subject to applicable law or to a written w�iver by Lender, Bflrrrnver stiall pay to '''
<br />_ : �� Lendcr on thc dny monthly payments nrc due undcr tho Notc,until the Note is pald in full,a sum("Funds")for:(a)ye�vly taxes �'=�'
<br /> and assessmenta which may attain prIor►ty aver thia Securiry Instrument as a lien on the Propeny; (b)yeazly leasehold payments -_-
<br /> �� or ground rente or,the P�npeny,if any;(c)yearly h��zard or property insurancs premlums;(d}yearly flood insurance premiums, �L �
<br /> .r.;.,:.. ,..
<br /> :�•�_- • if any; (e)yearly mortga�e insurance preraiums, if any; and(�any sums payable by Bonower to Lender, in accordance with �-'-
<br /> -°''�� �' the provisions of paragraph 8. in lIeu of the payment of mortgage insurance premiums. These items a�•e called "Fscrow Items." ---
<br />-,.;.*... • --
<br /> _�'``'���`��,� Lender may, at any tl�no, collect and hold Funds in an amoi�nt not to exceed the maxImum amo�tnt a lender for a federaUy -
<br />-,.�.,.�,.;,. ..
<br />_=�-�'�''��:�; ;, related mort;age le:.n may require fcr Barcowe;'s escroar s,��,ri�ne wider lhe federal Real Estate Setetem2nt ProcQdures Act of
<br /> '��'y^ ' '� 1974 as umended from time to dma 12 U.S.C.Section 2G41 ez s ' -'-
<br />:;,:y:�: : 3_:s, ° . eq.("RF.S��4), unless aaother Iaw ehat applies ta thc Fuads �
<br /> c�'r;•�•���• S sets a lesser amount. If so, Lender ina at any time collect�nd hold �unds in an amount not to eac�ed the tess�r suqount. �-�
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<br /> :,�:,���:�_,.�; � I.�nder may estimate the amounY of Funds due on the ba;>is o4 surrcnt data and reasoa�ble esdmates of expendituris of future ---
<br /> ���`�'""� Escrow Items or otherwise in�^.cord�nce with�plicable law.
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<br />�="?'=-'".ra�.�' s; The Funds �:�1! be held in an institutiQa r�hose de sits are lttsurcd b �t federal a enc , inslrumentali nr entit �
<br />,:-�k� t, p° Y • 8 Y ry. Y
<br /> �;'ss�, (including Lender,i4'irnder is such an institution)or ir.any Fedcral Home I.��n Bank. Lcnder shall apply thc Funds to pay the
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<br /> "'�"•`�"-'E�=�� �� Gscrow Items. Lender may not charge Boaower far holdin�nnd apglyiag t�e�mds,an�ualty analyzing thc escraw account,oz -
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<br />��:'_;:;��'' verifying the Escrow Items,unless Lender paya Borrower interest on tha Fuads and applicable lr►w permits I.ender to make such
<br /> "`� �w.+� a charr�e. However. Lender may require Borrower to pay a one-rime chrirr�e for an independent real estate tax reporting s�rvice
<br /> ������ used by Lender i�� connection with this loan, unless applicablr law provides otherwise, iJnless an agreement is made or
<br /> _ =����a� annlicaf►1�la�v ram.�rp�{�:,,ai tQ�.�W:�, �,���r s1::Jt noi�:.r.,gs;i:�3 t�Nay B;,;�owcr any inieres�or earnings on ci�e hunds.
<br /> .�_�Ne?�r Banower aad Lcndcr may agree iu writing, however,that inteirst shall tre paid on the Funds. Lendar sh�ll give to Aarrower.
<br /> __,n�;;��,�,, without chazge, an annusl accoundns of the Fnnds, showing credlts and debits to the �nds and the purpose for which exh
<br /> _`.;;�;r`�•:T,� debit to the Funds was made.Tho Funda aze pledged as additional securiry for all sums secum.d by this Security Instn�nont.
<br /> =-.�,•'i;,'�_ If the Fnnda held by Lender cacad the amounts perniitted to be held by applicable law, I.ender shall account to Borrower
<br />_ _ _-=----���: � for the eFass Funds in accordauce with tha requirements of applicable law.If the amount of the Funds beld by L.ender at any
<br />__;� � time is not sufficient to pay the Escrow Items when due,Ixnder may so notify Borrower in wdting,and,in such case Sonower
<br /> <��i�+� shall pay to Lender the amount necessary ta malce up the deficiency. Borrower shall make up the deficieas:y in no more than
<br /> :�.
<br /> --___� twelvc monthly paymenta,at I.cnder's sole disctedon.
<br /> -�-� Upon payuient in full of atl surns s�cured by thts Security Iustcument, Lander shall pmmpdy refund ro Borrower any
<br /> Funds held by Lender.If,undr,r paragraph 21,Lender shall acquine ar sell d�e pmperty. Lender, prIor to the acquis[tion or sale
<br /> of the Property,shsil apply any Funds held by[.ender at the time of acquisition or sale as a credit agalnst the sums secured by
<br /> this�ecurity Jnstnunent.
<br /> _ _ 3. AppliwNon of Paye►ents. UNess appllcable law omvidea nthrnuic� an s��..��� �;;.�; �•• �u.,..- ••-'-•• --
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<br /> paragraphs 1 and 2 shaU be applied: first. to zuy prepayment charges due under the Note; second,to nmounts payable under
<br />- --� ` parageapL 2;tliird,ta�temst duc;fowth,to principal due;and last,co any late cLarqes due under Wo Note. `�
<br /> "�' 4. C6.arges;I.9ena.Borirower shnll pxy a1l ta�ces,assessments.ch
<br /> arges,fines and impositions attributable to the Properry
<br /> _,y;��� which may attain pr�tlt��o,�Sceurity Insuument. and leasehold payments or ground rents, if any. Borrower shalt pay
<br /> these obligadons ta the ra�ner provided in paragraph 2,or If not paid in that n�anner,Borrower shaU pay thcm on dme dircctly
<br /> __ _ to thc person owed payment.Botrower shalI promptly fiunish to Lender all natices of amounts to be paid under this pazagcaph.
<br /> If Borrower malces these paymcnts dfrectly,Borrower shall promptly tSimish to I.ender receipts cvidencing the payments.
<br /> � Boreower shall�romptly dischazge any lien which has prioriry aver this Socurity Instiument unless Borrowei:(a)agrees in
<br /> wdting to the payment af the abligation secured by tue lien in a tnanner acceptable to I.ender. (b)contests in good faith the lien
<br /> - • by, or defeads against enforcement of the lien in, logal proce�eciin�s which in the Lcndcr's o�inion operate to prevent the "
<br /> _____ enforament of the litn;or(c)secures from the holder of the lien an agrcement satisfactory to i,cnder subo�iinating the lien tv ----
<br /> =--__- this Seeurity Instrument. If Lender determines that any part of th�Property is subject to a lien whlch n�ay attatn prioriry over -
<br /> __— '- this 5ecurity Lxstn�ment,Lender may give Borcowcr a notice tdentifying the lien.Bono�ver shall satisfy the lten or take one or ��-
<br /> - """� more of tho actlons aet forth above within 10 days of the giving af notice. —
<br /> ..':�_-
<br /> - `: ...ti,.•. Form 3flZ8 9/90
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