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<br /> -- - --_ . 92-- 10�03
<br /> -- - TO(I�THER Wfl'H all tl►e improvcmentr now on c�reaftcr erected on the property,and dl eaReme�u�apparto�w�cek
<br /> ond fiature� now or hereaftcr a�wrt oP the property. All replocem'nts and additions stwll �Ico bo coverod by thi�Security
<br /> -' �_---`J=--_-- - InWn►snenG Aii of the foreFoing is rofcrreJ�u in ihfs Sr�:wity 6�s�un�eut aY thc"!'ropercy." -
<br /> �..-� � HORROWER COVENAN'II'S that�ort�owcr is lawfully sefsed of thc cstAtc hereby canveyed nnd haz+the ri�h1 to grant
<br /> And convey the Property and that�he Proporty ia unencumbered,oxcept for cncuenbrancts ot rccurd. Horrower w�rtw�u and
<br /> _"" s_—__ _ _ -, will defend generally Qx t�de w the Aroperty againat dl cluima and demunds,subject to any encumbrancea of rocoN.
<br /> TNlS SECURITY INS7RUMENT combines unifam covenonts for national use and non•unifam cov� wiW r
<br /> , limited varfatfons by judsdiction ro constitule a uniform securiry instrument covering real property.
<br /> UNIFORM COVENANI'S. Horrower and l.ender covenunt and uAree as followa:
<br /> 1. Payment ot Principol and Intensti Prepoymeat aod Late Cba�ew Borrower shall prompUy pAy when due the
<br /> -- _ - -- -- principAi of su�i inleresl un iirc drL[c�idc�a,c3 ty it��?i8t�a�sd atiy prcpaj7stersi sst�!s�clsas�tl��e ultc�'r tt�!�►�a* -
<br /> -- ---- 2. �adR for 7luces aad Insu�nce. Subject w appliceWe law or to a wrftten waiver by Lender.Borrower shall pay to
<br /> =����"�� Lender on the day monthiy pnyments are due under the Note,until thc Notc is psud in full,a sum("Funds")for.(a)yearly
<br /> �_-� _ - taxes and ossessments which may attain pdority ovcr this Secudty Insuvment es a flen on the Properry;(b)yearly Iea�chold
<br /> _.�.:,�� payments or ground rents on the Property. if any; (c) yearly hazerd or property ineurance premiums: (d) yearly fload
<br /> insurnnce premiums. if any; (e) yearly mongage inaurance premiums, if any; und(�any sums payable by Bo�rowar to
<br /> r.vsr�m.�r,n;�a-ra [.ender,ln accordance with the provisions of paragrnph 8,in lieu of the payment of mortgage i�surance premiums. These
<br /> - - items are called"Escrow Items." Lender may,at any time,coilect and hold Fbnds in an amount not to exceed the maximum
<br /> amount a lender for a federelly related mortgage loan may require for Horrower�s escrow account under the federal Real
<br /> ---- Esuue Sealemont Procedures Act of 1974 as amended from time to time,12 U.S.C.$2601 et seq.("RFSPA").unless another
<br /> _;�-- - -- law that applies to the Funds sets a leaser amount. if so,l,ender may.et any tima,collect und hold Funds in an amount not tu -
<br /> _.,,_� � exceed the i°ss��amoun Lend�•� may eat�mate the amount of FLnds due on the basis of current data and reaconable
<br /> _�^!'�. - esdmates of expenditures ui future��cn w Item nr dherwise in accordance wlth applicable law.
<br /> � The FLnds ghall bc held in an institution whase deposits are insured by a fede►al pgency, instrumentality,or entity
<br /> -- (inciuding l.ender,if Lender Is such an institution)or fn eny Federal Home Loan Bank. Lender ahall apply the Funds to pay
<br /> = N'�� ► the Escrow Items. Lender may not charge Borrower for holding and applying the Funds,ennually analyzing the escrow
<br /> �=�:�+,'�•..Ma.�.�
<br /> accaunt� or verifying the Escrow Items,unless Lender pays Borrawer interest on the Funds and appliceble Inw pem�its
<br /> ~_;����� •� =�� i.ender to meke such a charge. However,Lender may��equire Bortower ta pay a one-time charge for an independent real
<br /> "_ ;�?�����_.: estate tax reporting servlce used by Lender in connecdon with this loan.unless applicable law provldes otherwise. Unless an
<br /> i-� "� agreement is made or applicable law requires inteoest to 6e paid,Leader shall nat be reyuired to pay Borrower any interest or -
<br /> ' '� �=�=' eamings on the Funds. Borrower and I.ender may agree in writing,howevcr,that in�erest shall be paid on the Funds. l.ender
<br /> - �- -. •. �.��
<br /> --"?�.. " shell give to Borrower,without charge.an annual accountfng of the Funds.showing cradiGS and debits to the Funds and the
<br /> �°���'� se for sshich esch debit to the F1�nds weg me�1a The Flmdx are pledged as additionul cecurlty for all sums secured by
<br /> =__: ;.�r:;,-_-- _ �— P�s
<br /> .. " this Security Inawment.
<br /> �-.. ,�, °���»:� .�• � --�n If the Funds held by l.ender exceed the amounts permitted to be held by applicable law, Lender shall aceount to
<br /> " . Barrower for the excess Funds in acco�dance with Ihe requirements of applicable law. If�he amount of the FLnds held by
<br />;.. I.ender at any time is not sufficient to pay the Escrow Items when due,L.ender may so notify Borrower in writing,and,in _
<br />�"��.� �' • . , � • such cese Borrower shall pay to Lender the amount necessary to make up the deficiency. Bomnwer shall make up the
<br /> _�;• �.'� �� deficiency in no moic than twelve monthly payments,at l.ender's sole discretian.
<br />�>.. ' U p o n p a y m e n t i n f u l l o f n l l s u m s s e c u re d b y t h i s S e c u ri ry I n s t r u m e n t,L e n d e r s h a l l p ro m p d y refund to Borrower sin y
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<br /> - . • Funds held by Lender. If.under paregruph 21, Lender shall acquire or sell the Propeny,Lender,prior to the acquisition or =
<br />,� ' : ::. sale of the Properry,shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums
<br /> �+��}� ' ' � �`� secured by this Security Inswment.
<br /> �,, '� '' �° � �°'�"°� 3. A p p l i c a t i o n o f P a y m e n t s. U n l e s s a p p l i c u b l e l a w p rov id es otherwisc. all pu yments received b y L.ender under
<br /> ' ' '� �.:..�, paraRtaphs 1 and 2 shull be applied:first,to any prepayment cherges due under the Note; second,to amounts payable under `
<br /> ` ara ra h 2;Ihird,to interest due;fourth,tn principnl due;and Inst,to nny late charges due under the Note.
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<br /> '' °"' 4. Clwr�es; Liens. Bo�rower shall pay ctll taxes, assessments, charges, fines and impositions attrlbutable to the
<br />� � ' �`'-'�' ° � � Property which may unain priority over this Securi�y Instrument,ond leusehold puyments or ground rents,if any. Borrower
<br />� ��, � ; '",.� - " . shall pay thesc obligutions in the manner provided in purngraph 2,or if not paid in that man�r.Horrower shall pay them on _
<br /> '� � •"���'� time direcNy to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be poid under =
<br />`�`�-:� -. �: thls pacegruph. If Borrower mukes these payments direnly,Borrower shall promptly fumish to Lender receipts evidencing -•
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<br />'t: • ,�; . � ' • , thc payments.
<br />�' Borrower shall promptly dischurge any lien which hns priority ovcr this Securiry Instrument unless Barrowcr:(a)agrces
<br />�� ��r:, . � in writing to the payment of the obligutian secured by the lien in a manner neceptable to Lender:(b)contests in good faith the
<br /> ' ", �t�• ,._..._ •.�. lien by.or defends Againat enfonement of the lien in,legul proceedinss which in the Lender's opinion operute to prevent the
<br /> t�'� ' � .,� enforcement of the lien;or(c)secures fram the holder of the lien�n ugreement satisfactory to Lender subordinating the lien -"
<br /> '� ° � to this Secudty insdument. If Lender determines thnt nny pan of the Property is subject to a lien which may nttain priority _
<br /> ' ��" over this 5ecurity Instrument,Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take -
<br /> �'`�'�� � one or more of the actions set forth above within 10 days of the giving of notice.
<br /> , 5. Hazard or Property Insurance. Bortower shull kcep�he improvements now existing or hereafter erected on the
<br /> � � - � - , Property insured ogainst loss by fire,h•rznrds included within the term"extended coverage"ond uny other haznrds,including �
<br /> ° , � floods or flooding, for which L.ender require� insurance. This insurance shall be muintuined in the amounts nnd for the -
<br /> , l�!x`:�• : .• •.�• Ibrm 3028 9/90 f/pXt 3 oj6 paRtal
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