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<br /> ' . . TOUE`THER WITH All Ihe improvemenls now o�hercufte�erected on thc pr�►eny,und ull cacemcnts,appunenances, ' ' ��:
<br /> ,. . and flxwrcs now or hereAiter a pan oi�he propeny. All replacements and udditions chall also be covered by Ihix Security
<br /> �� . Instrumenl. All of Ihc iorcgoing in referted�o in this Sccu�ity Inawment as the"Praperty." i
<br /> BORROWER COVENAN'1'S tha�8orrower is lawfully xeised af Ihe esta�e hereby conveyed anJ hux thc right�u�trunt
<br /> � " and canvey thc I'roperty and ths�t ihe Pmpeny is unencumbered,er.cep�fa encumbrances aP rccord. Hom�wer wurrantg u�d �
<br /> will defend generolfy the titk�o�he Property ugainx�wll clnima and demnnda,subjecl to any encumhruncea of reconl.
<br /> � THIS SBCURITY INSTRUM�NT cnmbines uniform cavenuntF far nalionul use und �inn-uniform cuvenan�s wi�h
<br /> Ifmited var�alions by Jud�dicilon to consli�ule a uniform Recu�i�y inslrument coverfog rcal propony.
<br /> l INIFnRM COV ENANTS. Norrower und ixnder covenant and ngree ax follaws:
<br /> �' . 1. P�yment o�P�incipwl and late�eat:Prepayment oad LAt�l:horgea. H�rmwer shul l protnpdy puy when duc�Ix
<br /> '' princiPal of and inler+est on tha dobt evidcncad by the Nac and any ptepuyment and late chargex duc under ehe Nutc.
<br /> 2. Fbnda for'ila�es pnd lnsurAnce. 4ubjecl tn applicublc luw ix�t�►u written woivcr by Lcrder,errn+wcr.rhull pay tc+ •
<br /> Lender on the day manlhly paymants ara due under�he Note,unlil the Nwc ix puid 1n full, �Aum("Fiuul.r"1 for:lul ycurly ' .
<br /> � taxes and osseasments whlah may attuin priority over thin Secu�iry Inslrumem us�lirn c+n�he Ptopeny;lbl ycarly Icusclx►Id
<br /> pwyment�or ground remF on the Propeny, if nny; Icl ycarly ha�uaf ar pmpehy insumncc premiumv: Id► ycnrly flrnwl
<br /> , . � fnaurance prcmiums. ii any;(e)ycnrly man�agc inguroncc prcmiuma, ii�ny; end �n any +uma payahic hy HuROwcr u►
<br /> � Lender,in accordencc with the provi+sionR uf puragraph ti,in lieu al Ihc�uyoirm of monRagc inxurnncc �xemiums. 'I'hc�c
<br /> . Ucm�ure called"6scmw 11emn." l.cndcr muy,al wny lime,collecl s�nd la►Id �und.r in nn amcwnt no11u cxcce�l�hc maximum
<br /> . � amcwnt a Iender far u fcckrally rclu�ed monguge loun moy rcyuire fnr Nurrowerk e�urow urcnun�under�he f'cdcrul Raal
<br /> . j �stwe Seulement Prcicedurc+�Acl af 1974 oe nmendcd fmm�imr to�fmr,12 U.ti.C.�2fi111 r�s�q.l"RNSPA"),unlex.r anniher
<br /> law�hut wppliea�o the Phnds seta a lesxer amuun�. If n��,Lcndcr n�ay,ul cmy Ifmc,collcwl und hwld Fundx in un amou�t nrn In ,
<br /> " � cacecd Ihe le�se�amcwnt. I.ender muy erUmu�c Ihr umount ul' Fimda dur nn Ihc huyla nf currcnt dalu und reu�nuble
<br /> '' ; e�iimates of capendflures of futu�e�'scrow Ilems ar Mherwise in arcoNunce wflh npplicahle law_ . � #•
<br /> -- � Thc Funds shal) Ix hekl in an inatitulion whoxc Jepoafis urc insurcd by u fadernl ugcrtcy, inxlrumrnlolity. i�r en�ily
<br /> � (Including Lendcr,If Lender is such un ins�iwiionl�ir in any Federul Homc l.oan Bnnk. I.ender ahull opply�hc Funds��pay � R .tir�;�
<br /> Ihe Escrow Items. Lender may not charge eom+wer ku halding ond upplying�he Fundy,unnuully nnalyzing ihe escrow .H ^�•
<br /> nccaunt,ar verifyfng �he E�scrow Itams. unlass Lender payR Hnnower interesl im Ihe Fund:� unJ applicablc luw prnnilz c `
<br /> Lender to maY.e such a charge. Huwavar, Lendur may rcyuirc Borrnwer t�pay u�►ne-time churge for un independent reul •+-
<br /> estalo tox reportins r.ervice used by I.ender in conn�ction with thf�luan,unless upplicuble law provide�rnherwise. Unlexs un .'��
<br /> • agrecment is mado ar applicable Inw requitess intomst to be pAkl,l.ender xhull not be reyuired la pay Hortawer uny iMerest ur
<br /> eamings on Iho Funds. BoROwer and l.end�r may agrec in wrfting,howevcr,lhut interest shs�ll be paid on the Funds. l.ender .
<br /> shnll$ive ta 9ortnwer,wi�haut charge,an ennuul necounting of the Funds, chowing credits and debits to the Funds and the _
<br /> , purpose for whiah euch debit to 1he Funds was made. The Funds are pledged os additional sec urity for all sums secured by
<br /> ,.� this Security Insttument.
<br /> '•' If the Funds held by l.ender exceed the nmount4 permitled to he hcld by npplicable Is�w, Lender shnll uccounl lo . .,
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<br /> Borrower for the exce�s Funds in uccardunce wilh ihe requiremenis of appiiruble law. If�Fie s�mount of the Funds held by -
<br /> • ..•',';,-;,-=;-'!;j;, Leqde:at�ny time is naf sutf:cient 10 pay the F�mw Uema wlu�n�Inr,Irn!I!�r may•�•n�+slty B�rrowcr in wrilin�.nml, in . :..,,:,;�,�
<br /> � „ such case BoROwer shall pay la E.�nder the umount necexsury to make up�he deficiency, Barower 4ha11 mnke up the �
<br /> �. �'. � ' deficiency in no more�han twelve monihly puymems,ut Lender�solc discrctiun. I
<br /> , ' Upon payment i�full of ull sums secured by Ihis Securi�y Instrument.l.endcr shall pmmptly rcl'und io Borrower nny ��
<br /> Funds held by LeMler. If,under parasruph 21.Lender 4hu11 ucquirc or sell �he Propeny,Lcncicr,prior to the acyuisiiion or
<br /> � '• i sale of the Property. shall apply any Funde held by Lender at the time of acyuisilion or sale as a credit against the sums I ' ; •+��
<br /> ' ' ' � i cecured by this Security Inswment. , ,., � - � -
<br /> '� '{ 3. Appllcatlon ef Pwymenta. Unless upplicable IAw pravides athcnvise, all�puyments received by Lender under ; '
<br /> � paragraphs 1 rnd 2 r•hall be upplied: �rst,to uny prepuyment chnrges due under ihe Noie;second,to nmounts puyable under • "'�:
<br /> ' � paragrnph 2;third,to interest due;fourth,to principnl due;and last,to any late chnrges due unde�me Note. ' . . -
<br /> ��� �' ' 4. Cbprges; Liena. Bortower shall pay uU taxes, asxessmenls,churges, fines and impocitions altrihuWble to thc '
<br /> ' ;;' %:•'�:�;'?`.',�' Property which may ultein priority over Ihis Security Instniment,�nd leasehold payments or ground renls,if uny. Borcower � .
<br /> �'�����%i;: �••:� • shall pay these abligations in the mnnncr provided in pnragraph 2,ar if not paid in that manner,Borrower xholl pay�hem an �
<br /> lime directly to the person owed payment. Borrower choll promp�ly f umish to Lender all notice�of amounts lo be puid under �� "�
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<br /> , '.:,;. this paragraph. If Borrower makes theoe payments direcdy.BorroK er shall prompUy fumish to Lender receipts evidencing . ''
<br /> the payments.
<br /> . � • • Bortower shall promptly discharge nny lien which has pdority ovcr this Security Instmrne�t unless Bortowcr.(n)aRrees • '
<br /> in writing to the payment of Ihe obligation secured by the lien in a mam�er acceptnble to Lender: (b)comests in gaod fafth the �• ,
<br /> �• lien by,or defends againat enforcement of the lien in,legul pmceedings which in the Lender's opinion opernte to prevent the ;;�...
<br /> " , enforcement of the lien;or(c) secures from the holder of 1he lien an agreement setisfac�ory �o Lender subordinuting the licn ,
<br /> i �o this Secudty lnswment. If Lender determines thut any part of the Propeny is subject to a 1 ien which muy uttain p�iority
<br /> over this Security Instrument,Lender may give Bo�rower a notice identifying ihe lien. Borrower ah�ll sAtisfy the lien or take
<br /> one or mor+e of the actians set fonh above within 10 duys of the giving of notice.
<br /> • S. HAZard o� Property lasurance. Borrower shell keep�he improvementsnow existing or herenfler erected on the ,
<br /> Property fnsured against loss by flre.haznrds included wfthin ihe terrn"ex�ended coverage" and any other hozurds,including
<br /> � tloods or flaoding, for which Lender requires insurence. 'This insurence shall be mainlained in the emounts and for the �
<br /> ' • Form 3026 9/90 qw,��2��/A poRerl .
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