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<br /> m.. '1'd(iB'1'NBR WC!'H�II N�n impmvanenu naw or henalter Croi.�tod on the Properf!'� dl aasanenu.+�pPurterwrce��and
<br /> , , — 8xturc� now or hercafter i put oi thc propaKy. All rcplsamnts �nd �dditian� �hAll �I�o bo covarod by Ihis Secu�ity
<br /> Iawn����nt. All uf tfw fur:.�oing i.rcfi:rr,d ta ia tht��ecudty In�trumem aq�hr "Pm�+ehy_" �
<br /> �i � BORROWER COVENANT51iwt Brirn►wer is Iqwfully cci�od of dw cauuc hcrcMy c�onveyod w�d h+w thc righl to Rranl and
<br /> oo�uoy, the propetty ond t�ut thc ptopcny ir uncixumbcrod. exccpt fur c�u;umMranccx uf rc+;ord. Burrawcr warnnts�rtd wifl
<br /> s all clAimc and dcnwndr,s�bjcct tu+tny
<br /> etwcumbranccs aF rocord.
<br /> defend gane�ally the titla ta�hc Pnopcny aQ�in t
<br /> TH1S S@CURITY INSTRUAI�NT combincs unifotm covenant.r fnr natlonal ur•c and non•unifbrm wvcrwnt�with Umited L
<br /> � vu�Nions by ju�isdi�liun to corutitu�e a uniform�ecu�fry inrurument covering rcAI proparty.
<br /> UNIFORM COVENANTB.Borrowcr wnd l.endcr covcnant wid ugrec+�s fo�laws:
<br /> .,�.;�.�:,N��� 1. Paymeat ot Prindppl and IMcrerli �PoYmeat and I.ale Ch�r�es. Borrower elwll prompt�Y PaY when duo tho
<br /> �'`�"'�� principal of and imerest an the dcbt cvidcncod by thc N�tc and wny prepayment and late chaBe�duc undcr thc Nae.
<br /> �T � 2. Fund��nr Taxes ond I�ur�na. Subiect to applicable law or to A wrftten waiver by l.endcr. Bortower shall {wy to
<br /> '�'`"`'A" ' � Lender on tho day monthly paymems ar+c due under the Nate.until the Nate is paid In full,a sum('Funda")for:(a)ycarly t�ca
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<br /> ��±�• and Assessments which may uts+in pdority over this Security Instrumcnt as s�lie�on the Propeny:(b)yearly leasehold paymenu
<br /> - --��'.y or ground rents on the Property.if uny:(c)ycarly hazurd ar propeny locuronce pnemiums:(d)Yc.�rly fl�wd i�surance premiums,
<br /> �.,�� �� if any; (e)ywrly mortgage insurance premiums, if or�y; and(D any sums payable by Borrower ta L.ender. in accordance with
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<br /> ,,.,.. the provislons of paragnph 8, in lieu of the payment ef rn�;+tgoge insurance prcmiums.l'hese items une called"Escraw Items.'
<br /> �'�'.'-'+.M • Lender may� at any time. callect and hold Funds in an anwunt not ro exceed the ma�cimum amount a Icnder for a feder�lly
<br /> `-��=`��'• � relate� mortgage loan may rc:quire for Bonuwer's escrow acccwnt under the federal Real F�tnte Settlement Procedures Act of
<br /> - � """':'-`'ri�="�',�,:� 1974 es amended from time to time, l2 U.S.C. Sixtion 2b01 er ssq. ("RESPA"),unless w�Wher law that Applics to thc Funds --
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<br /> �".+'���"'��•� •*•'•.:. sets a lesser amcwnt. If so, Lender may, at uny time,collect and hold Funda in ar� wnount not to exceed the le.qser emount.
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<br /> — �`d� • ` Lender may estimate the amount of Funds due on the basis of current daw ond rrsco�ble estirtwtes of expenditu�of futu�e
<br /> '�^J � ,. . " ., Escrow Iroms or dherwise in eccordance with applicablc law.
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<br /> The Funds ahall be held in an institution whosc deposits are insurod by a federal agency, instrumentality, or entity
<br /> -"°i- (including Lender,if Lendcr is wch un instimtian)or ln any Foderal Home Loan Bank.lxndcr shall apply the Funds to pay thc
<br /> '"�-��-'-"-� - � �'• Escrow Items.[.ender muy not cherge Borrower for holding end applying the Fundc. annually analyzing the eserow aecount. or
<br /> "_ "1�J��?`�'.'��'_'"-�.. verifying the Escrow Items,unless Lender pays tiorrower i�terest an the Funds and applicable law permits Leiwer to meke such
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<br /> __� ;,,�;;,.:, �charge.However, Lencier may require Borrower to pay a one-time charge for un Independent real estate tnx reportiog service
<br /> -._° r'"5' ?• � ����}' used by Lender in connection with thia loan. unless applicable law provides othenvise. Unless an ngreement is made or --
<br /> '�'��iia��;,� . applia►bk law requires interest to be paid. Lender shull not be required to pay Borrowcr any intcrest or earnings on the Funds.
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<br /> �"'�'"' •_ .. _�� Bomnwer and l.ender may ogree in writing,however,that inicresi ait�i)bc paid a�ihc Fut1ds. Lcsadcr sl�:!glve to rrossrzs, --
<br /> `. without charge, an annual accounting of the Funda, showing credits and debits w the Funds and 1he purpose fbr which each
<br /> debit to 1he Funds was made. The Funds are pledged ns additional security for all sums secured by this Securih�Instrument.
<br /> '�.t � ' If the Funds held by I.endar excced the amounts permitted to be held by app8cable law,L.ender shall account to Borrower
<br /> :;:.p:. �' : for Ihe eacess Funds in uccordance with the requirements of applicable law.If the amount of the Funda held by l.ender at any
<br /> ..:. ��:' �` time is nat suiticient to pay the Escrow Items when due, Lender may so notify Borrower in wdting,and,in such c�se Borrower ��
<br /> � :� , . .. shall pay to l.ender the amount necessury to make up the daficicncy. Borrower shall make up the deflciency in no more than
<br /> - �� twelve monthly pwymcnts,ut l..ender's solc discrction.
<br /> _ �•'" Upon payment in full uf all sums secured by this Scxutity Instrument, l.ender shall promptly refund to Borrower any
<br /> " • Funds held by l.ender.If,under paregrnph 21. Lender shall acquire or sell the Praperry.Lender.prbr to the acquisition or sale _
<br /> -'° ,� � '� of the Propeny. shall apply any Funds held by l.ender at the timc of scquisition or sule as a credi�against the sums socured by
<br /> �'' ;'}""'` � this Security Instniment. _
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<br /> • • � 3. Applkatbn ot Poyments.Unless applicable law provides othcrwisc,all p�yments reccived by[.cnder under paragraphs =
<br /> �';� � � �� I and 2 shall be applied: first. to any prepayment charges duc undcr thc Nate; �cxond, to amounts payable under paragraph 2; _
<br />-„7 . ;��; �. thi�d.to interest duc; fourth.to principal due; and lact, to any latc chargcs duc under the Note. _.
<br /> -�. , . • ; 4.Ch��ges;Liens. Borrowcr shall pay all tuxes,assessmcnts, chargcs,fines und impnsitions anrlbutable to the Prope�ty =
<br /> : �' V �-• which nwy attain priodty over this Security Instrument. und Ieusehold payments or grou�xl rents, if any. Horrower shall pay
<br />- ., � � Ihese obligations in the manner providcd in pars��n�ph 2,or if nut puid in that manner,Borrower shull pay them on time directly -
<br /> � , ,. , to the person owed payment. Aorcowcr shnll promptly furnish to Lcndcr ull notica of amounts to bc paid under this paragreph.
<br /> � ;��'�r- ° lf Eorrower makes these payments directly,Borruwer shull promptly fumish to l.ender receipts bvidencing the payments.
<br /> � � � Borrower shall promptly discherge any licn which hus priority ovcr this Sccurity Instrument unless Bornower:(a)agrees in
<br />" '� ;�:..�{ � wrlting to thc payment of the obligation sccurcd by the licn in a m:umer ucceptable to Lender;(b)wntests in goad faith the lien
<br /> � � ` ,�,��,�:�• , by, or defcnds ogainst enforcement of thc lien in, Iegal proceedings which in the Lender's opinion operate to prevent the _
<br /> enforcement of the licn; nr ic) uxurcs from the haldcr uf the lien an agrcemcnt satisfuctory to I.ender subordinating the lien to -
<br /> .. this Security Instrument. If Lender determines that uny part of the Property is subjext to a lien which may attain priority over �
<br /> ` °�+" .. � this Security Instrumcnt, Lcndcr may give Borrowcr a noticc identifying the licn.Born�wer shall satisfy the lien or take one or
<br /> „ more of the actions set forth aiwve wilhin 10 duys of�he giving ot�notice. _
<br /> Farm 3028 9/90 ��
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<br /> � . ,. MC;9019-NE12 i
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