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<br /> . TOGETHER W1TH all the improvements now or hereafter erecead on the property. and all easements, appurtenanacs, and
<br /> �zture,s now or hereaftcr a part of ehe pra�rty. A11 replacements and additions shall alsn be covered by this Secutity
<br /> Instrument. Ali of the foregoing is reterred ta in this Se�urity Instrunner,t as the "Property."
<br /> BOI2RC?WErZ COVENANTS that Borrowec is lawfuliy seised of thc estr�te hereby cpnveyed and has the right to grant and
<br /> canvey the Property and that the Pmperty is unenGUmk�ered, except for encumbrances of record, Borxower warrants and will
<br /> dcfend generally the title 10 the Property against all claims and demands, subjcct to any encumbranGes af re�ord.
<br /> THIS SECURITY 1N5TRUMEfVT combines unifarm covenants for national use and non-uniforrn covenants with limited
<br /> variations by jurisdictinn to cnnstitute a unifonn security instn�ment epvcring re�l pmperty.
<br /> UNIFoRM Ct�VENANI"S. Borrower and I.ender covenant and agree as follows:
<br /> l. Payment uC �'rincipal and Interest; Prepayment and Late Charges. Borrower shall prompily pay when due the
<br /> princip�l of and ;nterest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br /> 2. Funds for Taxes and lnsurance. Subject ta applicable law or to a written waiver by Ler.der, $orrower shall pay :o
<br /> Lcnder on thc day monthly payments arc due undcr the Note, until the Nate is paid in full, a sum("Funds") for: (a)yearly taxes
<br /> and assess►nents which may attain priority over this Security Instrument as a lien on thc PropeRy; (b)yearly leasehold payments
<br /> or ground rents on the Property, if any; (c)yearly hazard nr property insurance premiums; (d)y�arly flood insuran�e premiums,
<br /> . if any; (e) yearly mortgage insurance premiums, if any; and (� any sums payable by Borrawer to Lender, in accordance with '
<br /> the provisions of paragraph $, in lieu of thc payment of mortgage insurance premiums.These items are called "Escrow ltems."
<br /> L.ender may, at any time, collect and hold Funds in an amount not tp exceed the ma�cimum amount a lender for a federally
<br /> related mortgage loan may require for Barrnwer's escrow accpunt under the federal Real Estate Settlement Procedures Act of
<br /> 1974 as amended fram kime to time, 12 U.S.C. Section 2b01 et seq. ("RFSPA"), unless another Iaw chat applies tp the Funds
<br /> �ets a lesser amount. If so, L.cnder may, at any time, collert and hold Funds in an amount not to exceed the lesser a�ount.
<br /> L.endcr may estimate the amount of Fune�s clue on the basis of current data and reaspnable estimates of expcnditures of future
<br /> Escrow Items or ocherwise in accordancc with applicable law.
<br /> "fhe Funds shall b� hela in an institutipn whose deposits are insured by a federal agency, instrumentality, or entity
<br /> (including L.�nder, if Lcnder is such an institutian) or in any �ederal I-iome Lc�an Bank. Lender shall apply the Funds to pay thc
<br /> Escrow Items. Lendcr may not charge Borrower for hol:i;ng and applying the Funds, annually analyzing the escrow account, or
<br /> verifying the Escrow Ttems, unlcss Lender pays Borrower interest on the Funds and applicable law permits L.ender ta make such
<br /> a charge. However, [,ender may require $orrower [o pay a one-time charge for an independent real estate tax reporting service
<br /> uscd by Lender in connection with this loan, unless ap�licable law provides otherwise. Unless an agreement is tnade or
<br /> applicable law reyuires interest to be paic�. Lender shall not be requircd to pay Bormwcr any interest ar earnings on the Funds.
<br /> Borrowcr and Lcndcr may agrcc in writing, howevcr, that interest shall be paid on the Funds. L.ender shal) give to Borrower,
<br /> without charge, an anrual accounting of the Funds, showing credits and debits to the F'unds and the purpose fbr which each
<br /> debit to the Funds was made. The Funds are pledged as additional security for all sams secured by this Security Instrument.
<br /> if the Funds held by Lrnder exceed the amounts permitted to be held by applicable law, Len€!er shall account to $orrower
<br /> for the exccss Funds in accordance with the requirements of applicable law. Lf thc amount of the �unds held 6y L,endcr at any
<br /> timc is not sufficient tn pay the Escrow Items when due, L.ender may so notify Borrower in writing, and, in such case 8orrpwer
<br /> shall pay to t.,ender the amount neccssary to make up the deficiency. Borrower shall makc up the deficiency in no more than
<br /> twelvc monthly payments, at I.ender's sale discretion.
<br /> Upon payment in full of afl sums secured by this Security Instrument, I..,ender shall promptly refund to Bc,rrower any
<br /> ; �unds held by l.endcr. [f, under paragraph 21, L.ender shall acquire or sell the Property, I,ender, prior to the acquisition ar sale
<br /> af the Property, shall apply any Funds heid by Lender at the time of acquisition or sale as a credit against the sums secured by
<br /> this Security Instrumcnt.
<br /> 3. Appliea:fon of Payments. Unless applicable law provides otherwise, all payments re.ceived by I_.ender under paragraphs
<br /> 1 and 2 shall be applied: tirst, to any prepayment charges due under the Npte; second, to amounts payable under paragraph 2;
<br /> third, tn intcrest duc; fourth, to principal due; and last, to any late charges due under the Note.
<br /> 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property
<br /> which may attain priarity ovcr this Security lnstrument, and ]easehold payments ar ground rents, if any. Bo*rower shall pay
<br /> these obligations in thc manner provided i� paragraph 2, nr if not paid in that manner, $arrower shall pay them on time directly
<br /> to the person owcd paymcnt. Borrower shall promptly fumish to L.endcr all notices of amounts to be paid uncler this paragraph.
<br /> If�r,rrnwcr makes these payments directly, Borrower shall promPtly furnish to [.ender receipts evidencing the payments.
<br /> I3orrc��ver shall promptly dischargc any lien which has priority nver this Security Instrument unless Borrower. (a) agrees in
<br /> writing to the payment of thc obligation secured by the lien in a manner acceptable to I.ender; (b)contests in good faith the lien
<br /> by, or defends against enforcemcnt of the lien in, legal proceedings which in the L.ender's opinion operate to prevent the
<br /> enforccmcnt of thc licn; or (c) sccures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to
<br /> th'ss 5ccurity Instrument. If Lcnder determines that any part o�the Property is subject tn a lien which may attain priority ovcr
<br /> this Security Instrurnent, Lcnder may give Borrowcr a notice identifying the lien. Borrower shall satisTy the lien or take one or
<br /> more of thc actions sct forth above within 10 days of the giving of notice.
<br /> Form 3028 9/90
<br /> � PWe 2 O1 8
<br /> MC-3p19-NE/2 '
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