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<br /> — � � TO(3E7'HEIt WITH all Ihe improvements now or hercafter ercetcd on�hc propeny,uod oll curementK, uppurtcnuncew.
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<br /> wnd flxw►es now or hereafler u part of�he property. All repla�ementx And udditiona shull al�o bc covcred by�hfr Security
<br /> �ti; Inwtument. All of the foregoing is refetmd ro in�his Security Instrument as the"Propcny."
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<br /> �.b�s.,.:. BORROWER COVENANTS thut Borrower is lawfully scieed of 1he estatc hereby canveycd and hos thc dghl lo grunt
<br /> ;�; � " '� •`" •` � end wnvoy the Praperty and lhat tho PropeAy is unencumbered,except for encumbrancec of recard. Bortuwc�warrunts and
<br /> �-"'����-� will defend generally Iha dtle to the Property ngainst WI claims and demands,subject to uny encumbrancex of recard.
<br /> x�' THIS SECURITY INSTR.UMENT combinea unifarm covenonts For naticnal u�e und non-unifonn covenants with
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<br /> �� limitod vorlations by jurisdiction ta constitute a uniform sewrity innuumen�wvering reol propehy. � _
<br /> •'�, � �, �.,+ UNIFORM COVENANTS. Borrowcr a�id l.ender covenant and agrec us folbws: _..�_
<br /> .. 1. P oymen t o f Pr inc ipa l a n d I n t e r e s t;P r e p p y m e n t a n d L a t e C h p r g e a. B o r r o w e r s h a l l p r a m p t l y p a y w hP n d u c t h e
<br /> ,�t.y,� � principal of and intercxt on the drbt cvidenced by thc Note and uny prepayment and late charges due under the Note.
<br /> ��• :%r+�;�: ;: '' Z. F�unda for'�axes and InsurAnce. Subject to applicuble law or to u written waiver by L.ender.Borrower shall pay to _
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<br /> ' � �' "" " I.ender on thc day monthly payments are due under the Note,until the Note is paid in full,a sum("Plinds")for:(n) yearly _�
<br /> ''�"`�'��'"''`''`��'�°�� taxes and assessments which may attain pdorit over this Secu r ity Instniment as u l ien on t he P r o p e rt y: (b)y e n r l y l e a s e h o l d
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<br /> =---=�.y;.:•.,:,,;A.:; ' p�yments or ground rents on the Property, i any; (c) yearly hazard or property lnsurnnce premiums; (d)yeurly flood
<br /> �_�—•i,�.�,.w.ti..�,, insurance prcmiums,if nny; (e) yearly mortgage inaurancc premiums, if any; and(� uny sums payable by Borrowcr to —
<br /> *_�>z�.�..:�:..:{.�,"" Lender.in accordunce with the provisions of psvagraph 8.in lieu of the Pnyment of mortgage insurance premiums. These
<br /> =��•:.��:;�%�i�.;;;"a�.�; items are called"Escrow Items.' l.ender mny,al su�y time,collect and hold Funds in an an�ount not to exceed Ihe maximum �
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<br /> d""=�:'�;!���.a��,,�_ amount a lender for a federally related mortgage loen may requine for Borrower's eacrow account under the federal Real c_-
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<br /> %��::�=�`�••�-'%�"�- � Estate Settlement Procedures Act of 197�i es umended fru�u timC tu t6uC, 12 U.S.C. §2601 er seq.("RE;PA").uNess another
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<br /> :,.;�•;'�.• � law thnt applies to the Funds sets a lesser amoun�. If so,Le�der may,at any timc,collect and hold Funds in an amount not to _i
<br /> _ � -� ---��'�� exceed �he lesaer sunount. Lender may cstimatc the amount of PUnds due on the basis of current dala and reaaonable =_
<br /> _ ;,. ,`.}:�����;;:�.�>,. estimntes af expendimres of futu�e F.scrow Items or othen�vise in accordance with app8cable law. ��
<br /> -- ' , � ' The Flmds shall be held in an institulion whose deposits are insured by a federal agency, instrumentality,or entity �°-
<br /> ••!�n t: ° � • (lncluding Lender,lf l.ender is such an institution)or in any Federal Home l.oan aank. Lender shall apply the Funds Io pay �. �-
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<br /> ; _�,;,; ,';�;y:;i:•.:, the Escrow Items. l.e�der may nat charge Borrawer for holding and applying the Funds, annually analyzing the escrow r:��
<br /> ��i' ��;:i;;'�';`�`:�' accaunt,or ve�ifying ehe Escrow Uems, unlesa Lender pays Borrower interest on the Funds and applkable law perniits ,�°"'
<br /> ---=�1_�� '�., :�i�4�,;,,.;,.:.. 4ender ta make such a charge. Hawever.I.ender may require Borrower to pny a one-lime charge for an independent real �'n�
<br /> -�.'-e!�`` ` '�'' :��, •., estate tau reporting scrvke used by I.ender in connection with this loan,unless applicable law provides otherwise. Unless an �'��_
<br /> —� �•� " agreement is madc or applicable law requires interest ta be pafd,Lender shall not be required to pay Borrower any interest or —_::-
<br /> `��*; �;;..�,,':,'.;,',•��� eamings on the Funds. Borrower und Lender muy agree in writing.however,that intcrest shall be paid on the Funds. Lender �,.;�
<br /> - shall give to Borrower.without charge,an nnnuul uccounting of ihe FLnda,showing credits und debita to the Funds and the ---
<br /> y-!=��� � • purposc for which each debit to the Funds w�s made. The Funds are pledged as additional secudty for all sums secured by �=_�
<br /> _ . '..3w�.etiV1_fM!t±�.��.--, this Security Instrument �'=�
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<br /> - If the Funds held by Lender excee.i�he umounts permitced tu be hcid by u�iicnbia iuw, Leader s a accoant io
<br /> - � sarrower for�he exreti.r Funds in uccurdance wUh the requiremema of applicable Inw. It�he umount of the Funds hcld by
<br /> �.,' �� Lender at any limc iw not suffirient to puy�hc Escrow Itemx when duc,Lender may so n�itify Botrawcr in writing,und,in __
<br /> _<� , e.•c;� . . �such co+e Bormwer Khull puy to Lender Ihe amount necesgury to make up the deficicnry. Borrower.rhull muke up Ihe -°__
<br /> ... � deficiency in no more thun twelvc munlhly paymenlr,ut Lcndcr ti nc�le di�scretion. �„
<br /> � • Upon pnymcm In full��f uU�umr.r•ccureJ hy thiti Scrurity Imlrument. Lendcr xh�ll prumptly refund to BoROwer uny =
<br /> � " • ° - ' Fund�held by L.endcr. If,umlcr purugruph 21,Lcndcr shall ucyuirc or scll thc Propcny.Lendcr,prior to Ihe acyuisilion or �
<br /> . . •• • rale of'Ihe Piro�xny,tihall upply uny FunJx held by Lendcr ut �he time of acyuisilion ur sule as n credit�gninst the sums �'
<br /> ' .. • e�ccured by Ihis Secud�y Inx�rumc.nt. _
<br /> • . � 3. Appllcatton of PAymenis. Unl�+s upplicuble luw proviJes otherwitie, ull puyment, mc.:iveJ by LenJer under �--
<br /> °- • . ' paragruph� I and 2 shull lx upplicd: fir.�,a�uny prepuymcm churges duc undcr thc Nute;xecund,to umuunts payuble under �
<br /> ': �� • paragr�ph 2;third,lo irneresl due;founh,lo principal due;and lu.r•t,to uny Inte chorses due under Ihe Note. �__
<br /> " . . 4. Charges; Liena. Borrower .r•hull pay ull luxeti, usticssments, charges, �nez und impositions uttributable to thc �,,.
<br /> � ��e•• � Propeny which may attuin priority aver thiz Sccu�i�y Instrument,a�xl leusehold payments or ground rcnts,if uny. Borrower
<br /> " shull puy these obligutions in�he manncr provided in purugrvph?,or if not puid In thut manncr,Borrowcr shall pay them on �-
<br />' �•� •° „ ., time direcdy to the person owed pnyment. Bortower zhall prompUy furnish to Lcnder ull notices of amounts to bc pa�d under �'
<br /> , , this paragraph. If Borrower mukex these payments direcdy,Borrower shall prompNy fumish to Lender receipts evidencing ��-
<br /> the paymcnts. �'��`=
<br /> " Borrower shull promptly diu:harge nny lien which hns prioriry over this Security Instiument unlesx Borrower:(u)Agrees =_
<br />,� � , in writing to the paymem of the obligAtion sccured by thc lien in a munner acceptuble to Lender;(b)contests in good faith the �=-
<br /> �� ' lien by,or defends ngainst enforcement of the lien in,Iegal proceedings which in Ihe Lenderk opinion opernte to prcvent the �'.
<br /> , enforcement of the lien;or(c)secures from the holder of the lien un agreement satis factory to Lender suboMinating the lien
<br /> - to this Security[nstrurnent. If Lender determines�hot uny purt of the Propeny is subject to u lien which muy attain priority
<br /> ovcr this Security Instrument,Lender may givc Sorrowcr a notice ickntifying thc lien. Borrower shull satisfy�he lien or take _
<br /> , . one or more of the nctions set fotth ubove within t U days of Ihe giving of notice.
<br /> � S. Hau�rd or PropeMy InsurAnce. Borrower shull kcep thc impmvcment,now eai,ting on c�rcufter erected on the ,.
<br />- `� . � Propeny insurcd uguinst loss by fire,hazurds included within the tcrm"cxtrndeJ covernge"und any other huxnrds,including '
<br />: - ' • tloods or tlooding, for whicb Lender requires insurunce. This insurnnce shull be maintuined in�he amoums aid for the
<br /> F'orm 3021{ 9/90 ��w.qt:njAlwRrs�
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