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<br />" TOGETHEA WITH all the 5ffiproYements now or hsreafter erected on the pmperty.an�e�a.-��PP�snances�and WJ
<br /> futures nosv or hereafter a part of the propesty. Atl replare�ats and additions sha1� aLso be covered by this Security -_
<br /> .� '� Instrume,nt.All of the faregning is referned to in this 5ecurity Insmix�em as the"Prap�rty." __
<br /> BORROWER COVENANTS that Borcawer is lawfully se6sed of d�estate hereby conveyed and has th�right to grant and `°'
<br /> 1 :(>.��• convey die Property and that the Proyerty is unencuml�red, except for encumbrances of moord. Borrwver war:3nts ���ilt 'Si
<br /> ` defend generaUy the tide to the Property against all cisicas aad demands.subject to any encumbrances of record.
<br /> �. THIS SECURITY INSTRi�4iEl�i'P combines unifarm covenants for nationa[use aad non-uniform covenauts arith limittd _
<br /> � variations by jur8sdlction to rnnsi'stute a uniform secearity ir.strament wverin;real property. _
<br /> ;;'-�°� U1YI�ORM COVENANTS. Horrower and Leader cavenant ased ag�ee as follows: _
<br /> " l. Fsiyme�t of Principal�nd Interesi; Pi�epay��t aad I.ate Cha�eg. Borrawer shdl prompdy pay when dus the —
<br /> � priwcipal of and interest on the debt evidenced by the Note and any pregayment and late charges due under the Not�.
<br />`�s� -
<br /> 2.Ftagds for Taxes aad Is�urance. Subject to applisaUle law or to a written waiver by Lender,Bnrrower shall pay to _
<br />' Lender on the day montlily payments are due under the Note,untii the Nate is paid in fuli,a sum{"Funds")for:(a}yearly tax�.s --
<br /> � azui assessments which may attain priority ot er this Serurity Instrucnent as a lien oa[he Froperty:(b?Yearly leasehold paytt�ents =
<br /> , or ground rents an the Property,if azty:(e)Yearly hazard ar Pmp�rtY insurance Premiuuns:(d)Yearly flood insurarr.ce premitams, . �:
<br /> if any:(e)yeariy mortgage insm��premiums.if anY:and(�any sums payable by Borrower to[..ender, in accordance with R<":
<br /> ' the provisions of paragraph 8,in lieu of the payment oF mortgage insurance premiums. Theso itenag ara call�d"EEa�u It�nc.' -
<br /> .;t Lender may.at flny time, collec2 and ho!d Fund, in an amount nat to exceed the maxim�n ainount a tender fo:a feder�S� �'`
<br /> related mortgage loan may require far Boaower's escrow accouut under the federal Yteal Pstate Settlera:nE Pracedures Act of _
<br />� �`''• � 19'14 a�a�ended from tinme to time. 12 U.5.C. Section 2601 et seq.("RESPA"),unless anoiher law that applie�to the Funds -_
<br /> ' sets a lesser amwnnt. If so, Len,�er may,at any ame, oollect and hold Funds in an amount not to exce.ed the t�sar amount. =-
<br /> � ` �� Lender may estrmate the amouat of Funds due on ihe basis of cu.rrent dasa and reasonable esstimates of expenditmws of futuxe �__
<br /> � Escrow Items or othe_*tvise in accordauce with appticable law. _
<br /> ��r�� : The Funds sii� wa held in an insucuaon whose deposits are irs�e3 by a federal agency, insmimentality. or entit�� -
<br /> '` ` (including Lender,if L.ender"ss s�ach an institurion)or in any Federal Ha�a9..oan Bank.I.ender shall apply the Fuit�s to pay th�� _
<br /> '`''�� Escrow Items.Lender may not�a�.ae Borrower for holding and apptying the Funds,adnually analyzing the escrocs;�unt,�: _
<br /> I• 4i• -__
<br /> "��.� c,�,� verifjring the Escrow Items,w�less Lender pays Borrowe:in.9�f on the Funds and app3lrable law per�mts Lender to�ke su�h =
<br />,��'' ;:�� a eGarge. However.Lend,er may require Rorro�ver to pay�saz-time charge for an indepeadent real estate ta�c repo!2ia3g seivice _
<br /> . � . used by L.eades in conneciion with this lo�,�� es�ess z�:icable law provides othsrwise. Unless an agreement is.made � -
<br /> ' appliqble law requires interest to be paid.L�rt�r s5all aet 6e required to pay Borrower any interest or earnings on tbe fiunds. �'
<br /> Borrower and Lender may agt'ee in writing, however,tt,�r�:.rest shall be paid on We Funds. Lender s6all g�ve t���rrower. c_
<br /> ' . without charge, an annual acaounting of ttie Funds, shcs�mg credits and debits to the Funds and the purpose�ir�r3ich esc�
<br /> ' debit to�the Funds was made.The Funds are pl�dged as additional security for all sums se�ured by this SecuriYy lnsttvment.
<br /> ; �� ,{ � If the Funds Er�ld by Lender exc�ed the�.-aunts permitted to be heid by applica6le law,Lender shall account to BorcoRCU�- [,-'
<br /> �Y �'� . for the ex�ess FucrS�.�zn accordance with the r�uirements of applicable l�r. If the amount of the Funds hetd by Lender at�. , � -
<br /> , . . time is nat sufficierr:�pay the Escrow Items when due,i.ender may so natify Borrower in wr►ting.and,in such c�e Borrar�
<br /> sh�li��ay to Lender the amount n+x�sary to make up the d�tciency. Borrower stra!F c�e up the deficiency i�ao�ore ttt;� °_
<br /> twelve monthly paymeats.at I.etc�nrler's sole discretion. _ � �
<br /> ••. ��. Upon payment in fult of aU sums secured by this Sect4fity Instir*-,.1.-eat, Lendes shall protnpti�r refund to Ba:tower any : .
<br /> � Funds held by I.ender.lf.under paragraph 21.I.ender shall acquire or yzlil'i�e Pcoperty,Lender,prior ta the acqaisition or safe .
<br /> � ° of the Properry,shalt npply�y L'unds held by Lender at thic�:rne of acqnisition or sale as a credit againsc the s�nns secured by -
<br /> this Security Instrument. . � '
<br /> • � 3.AppIIratloa of Paym�s.Unless applicable law provides otherwise.all payments received by Lender under paragrapbs -
<br /> � 1 and 2 shall be applied: first,to any prepayment charges dae uncier the Plote:serond.to emounts payable under para�raph Z; 4.
<br /> � .� third.t�interest due;fourth,to'�rincipal due;and last,w any late char�es due undes the Note.
<br /> • 4.Chaiges;IIi�r�s. Boma���shall pay all taaes,assessments,charges, fines and impositions attri6utable to the Property -
<br /> � which may attain priority over r�;;s Seturiry Instrumeat. and leasehotd paytnents oP�ound renls, if any. Borrower si�a11 pay _
<br /> ��,�•��' tbese obligutior�s in the manner pruvided in paragaph 2.or if not paid in that manner,Sorrower si�t�!!pay them on dme directly .. --
<br /> , :-•,,.� � ta the perEOn owed��ymeni.Bonower shall fi.-�mptly fumisb to l.ender ail notices of amounts to be p�id under this�azagraph.,
<br /> ' If Barrower makts t�ese payments directiy.��'ower shall promptly furnish to I,ender recelpts evideucusg 4he payments. . • -
<br /> ' Borrower shall promptty discharge any lienwhich has priority over tivs Secvrity Iastrument nntess Borrower.(a)agre,es in �-
<br /> � . vrciting to the payment of the obligarion secured by the lien in a manner acceptable to Lender;(b)cantests in goo�fzitA the lien
<br /> by. or defends against erffvrcement of the lien in. lega' �roceedings which in Wa Lerlder's opiaion operate ��er�eat the _
<br /> enforcement nf the lien;or(c)secures from the holder of the lien an agre,ement satisfactory to Lender subordinating the lien t�
<br /> this Security Instr�m�nt. If Lender determi�rr•_s that any part of the Pre�,.�ty is subject to a lien which may attain priority oa�
<br /> this S�ecurin�Instc�:^ent, Lender may give E�srov�er a notice identifyir��`�a lien.Borrower sAali satisfy thc licn or take one crr
<br /> �•• more of the actions set forth ah�v�wit.hin 10 days of the giving of noace.
<br /> Fcn.rn 3028 9f90
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