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<br /> • TO(iETNER WITH�II the improvemente now or hercafter eracted on the property.and all ea�emenu, �ppwienance+�ond
<br /> tlatu�a now or her+after � put of the propeRy. All repixements And tlditionr chall �Iro be coverod by thir Secw�ity
<br /> Uutrument. All uf the forcgoing is nefcrrod to in thls Sccurity Instrument as the"Property."
<br /> - ,,- ' BORROWBR COVBNANTS li�at Barcowcr is lawfully ceiscd of the estate hereby conveyed and has ttv:right to grant and
<br /> • convey thc Property and that the Property is unencurnbcred,extcpt for encumbranccs of record. Horrower wamntc and wlll
<br /> "°' � deftnd generally Ihe Hde ta the Property ageinst all claims and demands,subject to any encumbrances of record.
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<br /> THIS SECURITY INSTRUMENT combincs uniform wvenants for national usc and non-uniform wvenAnts wlih litnitod �
<br /> �� r�`����` vArlAtions by jurisdiction ta cansUtute e uniform Fecurity inst�ument covering real property.
<br /> , . UNIFORM COVENANTS.Borrower and Lendcr covenant and agree as follows:
<br /> • `":`:;' ` `.�'`•�'r' 1. Payment of Princip�l and Interest; PreEwymeat w�d Late Chorges. Borrower shall promptly pay when due the
<br /> x;g;:;:-:.::.:�sa,� , w
<br /> ' '�` ••t'" ' ptincipal of and interest on the debt evldenced by the Note smd any prepayment and latc charges due under the Note.
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<br /> !'�.�- .; 2. I�'unds Por T�uees pnd Insumnce. SubJect to applicable law ar to a written waiver by Lcnder, Borrower shall pay to
<br /> ��°' ^'�.'� Lendcr on thc day monthly payments are due under the Note.until the Note is paid in full,a sum('Funds')for. (a)yearly ta�ces F_ _
<br /> 'A`� " � and essessments which may attain priority ovcr this Security Instrumcnt as a licn on the Property;(b)yearly leasehold payments
<br /> �'t``'� � ""`'� or round renta on the Pm if an ;(c)Yearl hazard or ro rt jnsurance remiums;(d)Yearl flood insurancc remiums,
<br /> . B Pe�Y• Y Y P P� Y P Y P
<br /> � �;:•.1a;;;, if any; (e)yearly mortgage insurance premiums, if any; and(Q any sums pnyable by Borcower to I.ender. in accordance with
<br /> �� �''``°" `,"`'`'�"A':' '� the provlsiona of paragraph S.in lieu of thc payment of mortgAge insurance premiums. These items are called"Escrow Items."
<br />�� �" �'" �� � •�' Lender mey, at any time,collect and hold Funds in en amount not to excced the maximum amount a lender for a federally
<br /> `�l'�""`�- telated mortgage loan may require for Borrower's escrow account under the federal Real Estate Setdement Procedu�es Act of
<br /> `�`��-"-"'=�'���-�-� ` 1974 as amended from time to time. 12 U.S.C.Soction 2601 et se ("R�SPA"),unless another!aw thet lies to the Funds
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<br /> �=� ; �.' .:; sets a lesser amount. If so, I.ender tnay. at any time,coUect and hold Funds in an amount not to exceed the lesser amount. -_-_
<br /> -='-' � , , � .,, l.ender may estimate the amount of Funds due on the basis of current daw and reasonable estimates of expenditures of future —"�
<br /> . Escrow Items or othenvise in accordance with applicable law. �.
<br /> ', �.� � �•• � • The Funds ehall be held in an institution whose deposits are insured by a fecieral agency, instrumentality. or entity _
<br /> ' �„�_ T, s : (including I.ender,if I.ender is such an institutian)or in any Federel Home Loan Bank. I.ender shall apply tha Funds to pay thc _---
<br /> .ti ' ,x •�t;� �scrow Items. Lender may not charge Borrower for holding and applying the Funds,unnually analyzing the escrow account, or -
<br /> '.�+ � verlfyinq the Escrow Ilcrns, unless Lender pays Borrower interest on the Funds and applicablc law permits Lender to malce such
<br /> T ' • :� b�'• a charge.However. Lender may rcquire Borrowcr to pay a onc-time ct�rge for an independent real estate tax repoRing service -
<br /> -:��i . � : .:,,• used by Lender in connection with this loan, unlesa appliceble law provides otherwise. Unless an agreement is made or .���.r
<br /> '°�r' °� ��'� a licable law r ir+es interest to be a�d,I.ender shaJl not be r uired to a Borrower an intemst or earnin s on the Funds. ��'''
<br /> ' �*�;� PP �W P � e9 � P Y Y 8 F:-
<br /> s °_� �i"� Honawer end Lender may agree in writing, howcver,that interest shall bc pa�d on the Funds. �.endcr sha!!gl�e to Borrower, r•-'-'-
<br /> � � -`•��� � wlthout charge. an annual accounting of the Funds, showing credits and debits to the Funds and the purpose for which each �
<br /> , ' debit to the Funds was mode. The Funds arc pleilgcd es additional sccurity for all sums sccurod by this Security lnstrument.
<br /> , ri�; � If the Funds held by I.ender excead the amaunts pernutted to be held by applicable law.Lender sh�ll account to Borrower
<br />, , � +f+r�.° „,� for the excess Funds in accordance with �he rcquirements of applicable law. If the amount of the Funds held by L.ender at any "`�'
<br /> � ��'•�;� � , time is not sufficient to pay the Escrow Items when due, Lender may so notify Borrower in writing.end,in such case Borrower �
<br /> . ' '"�'' � shall pay to Lender the amount necessary to make up the deficiency. Borrowcr shall make up the deficiency in no more than �4 .`
<br /> ' twelve monthly payments,ut Lender's solc discrction.
<br /> � , Upon payment in PoII of all sums secured by this Security Instn�ment, L.ender shall prompdy refund to Borrower any
<br /> �"` ' ' .,!��., Funds held by l.endcr.If,under paragrnph 21,Lender shall acquirc or scll the Property,Lendcr,priar to the acquisition or sale ���� '
<br /> � � ,,;"'. " :�. � of the Propeny. shall apply any Funds held by l.cnder at the time of acquisition or sale as a credit against the sums secured by F='�'
<br /> - ', this Security Instrument. - -
<br /> �'+� � , ,. 3.Applkatbn of Paymenis.Unless npplicable luw provides Mherwise,all payments received by Lender under paragraphs - -
<br /> �:" '�" 1 and 2 shall be applied: first,to any prepayment charges due under the Note; second. to amounts pay�ble under paragraph 2; �--•-��
<br /> • third,to interest due;fourth. to principal due;and last, to�ny lute chnrges due undcr thc Note. _
<br /> !!��• � F- 4.Chprges;Liens. Borrowcr shall pny aU taxes,ussessments,chnrges, fines and impositions attributable to the Property �`����_
<br /> ti , , which mey attain priority over this Sccuriry Instrament, und Ieaschold payments or ground rents, if any. Borrower shall pay E�•
<br /> � ' „ these obligations in the rnanner pmvidcd in paragrnph 2,or if not pnid in that manner,Bonower shall pay them on titne directly _ ._..
<br /> � • to the person owed payment. Borrowcr shull promptly furnish to I.endcr all notices of amounts to be paid under this paragraph. =
<br />' "�� �' If Borrower makas these payrnents directly, Bormwer shall promptly furnish to l.ender receipts evidencing the payments. �
<br /> �+ � Borrower shall promptly discharge any licn which has priority nver thix Sccurity Instrument unlcss Borrower.(a)ogrees in �.,-,
<br /> �"`�lP writing to the payment of Ihe obligation secu�ecl by the lien in n munner acceptable to Lender;(b)contests in good faith the lien
<br /> :�,�- " by. or defends against enforcement of the licn in, legal proc�ings which in the I.cnder's opinion operate to prevent the �� `�
<br /> .. enforcement of the lien; or(c)�ecures from the holder of thc lien an agrcement suti�fuctnry tu L.ender subordinating the lien to -• .
<br /> . ' this Security Instrument. If Lender delermines that any p•rrt of the Pmperty is subject tu u lien which may attuin priority over �
<br /> ' � • " this Sccurity Instrument. I.cnder muy givc&�rrower a notice idcrnifying thc lir_n.Borruwcr shull sutisfy the lien or take one or -
<br /> • '� more of 1hc actions sct forth abovc within IU d•rys uf thc giving uf noticc.
<br /> • Form 3028 8/90
<br /> „ , P�1o16
<br /> ' IUC,901&NE/2 E
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