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<br /> .- _ TOUEfHE'R WITH All the improvementc now or hemafter erected c�n tFee property.ond all coxememx,appurtenances.
<br /> - - and flxiur:s nau ar lsCreaPtes a par:af!ht ptnperty. A!! r!¢laceemnt•�nrl�ri�N�innc vhell e!Rn he covered by lhia SecuritY „-
<br /> �-- --__- Instrument. All oP the faregoing ie refemed ta in this Securiry instrumem uy U�e"Prupeny."
<br /> ` BORROWER COVENANTS that Bo�rower ia luwfully sclsed of the eslete hereby convcyed und hua the�ight ta gmnt
<br /> � and convoy the Propetty and Ihat the Ptopetty is unencumbeteai,except for encumbrances of record. Horrower wurnntr and
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<br /> ::; - -- �- - - will defend gcnerally the t�tle to the Property against afl claimn and demends,�ubject to any encumbrancew of record.
<br /> THIS SECURITY INSTRUMENT combines uniform covenants for natEonAl use und non•uniform cavenwntr with �
<br /> limited varlaqons by judsdiction W wnstitute a unifarm security inswment covering�I propeny.
<br /> -- - UNIFORbi COVENANTS. Borruwer sutd Lender covenant and agree�s follows:
<br /> - - 1. Paynsc�st e!Prladpa!assd Intereet=Prepsy�n!nt a�ull.pfn f:hergr.�. Rnrrwwer shall promptly pay when duc the _
<br /> _:!�le�lhb�fds���.��; pd�cipnl af and intenest on the debt evidenced by tha Note und Any prepayment and late charges due under the Note.
<br /> 2 Ftiads for 1t�xes and IasurAace. Subject ta applicable law or to a written waiver by Lender,Borrower shall pay to
<br /> --"s"'""�'°"'_7°"''�!. Lender on the day manthly payments are duc under the Nate.undl thc Note is paid in full,a sum("Funds")for. (a) yeurly
<br /> -•°��+��� taxes and asseasments which may attain pdor�ty over this Secudty Inslrument as a lien on the Property;(b)ycerly leasehold
<br /> ---�,��,. :.,<�� payments or ground rents on the Propeny. if any; (c) yenrly hazard or property insuranco premiums; (d) yearly fload -
<br /> -----�' inswance premiums, if any: (e)yearty mortgage insurance premiums, if any; end(�any aums payeble by Borrower to
<br /> --==_-'='��"! Lender.in uccordance wlth the provisions of psuagraph 8,in lieu of 1he payment of mortgage insurance premiums. These
<br /> �� r items are called"Escrow Itema." Lender may,at any time,collect and hold Funds in an emount not to exceed the maximum
<br />�---=����� amount a lender for a federaliy related mortgage loan muy require for BoROwer's essrow Account under the federal Real
<br /> °-- �;�;;;;,��:� Estate Settlement Procedures Act of 1974 as amended from ume ro time, 12 U.S.C.§2fi01 Pr ceq.("RESPA"),unless another __
<br /> .gyr;,;;;,;�;=:'; law that applies to the Punds sets a leaser amount. If so,I..ender may.at any time,collect and hold Funds in an amount not to
<br /> y�rW�'•��^ �,• l exceed the lesser amount. Lender may estfmatc the amount of Funds due on the basis of current data ond reasonable
<br /> ��"�"` �"""��' estimates of ex nditures of future Escrow Items ar otherwise in accordnnce with applicable law.
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<br /> ���' ��'^ Ttie Funds shall be held in an institulion whose deposits ure insured by a fedeml agency,instrumentality.or entity
<br /> ���_ :,'"� (lncluding Lender,if L.endor is such an instituNon)or in any Federul Home l.oan Bank. I.ender shall apply the Funds to pay
<br /> �,,y,_;;��.ti;�;,�;� the Escrow Items. Leixler may not charge Bortower for holding and applying tha Funds,annually analyaing the escrow
<br /> `;,��:�+�„,� _ • account,or verifying the �scrow Items, unless [.ender pays Borrower iMerest an the Funds and applicable law pem�its
<br /> � �. � .,,,� .;4':h Lender to meke such a charge. However,Lender may require Borrower to pay a one-time charge far an independent real
<br /> � I�����Ltw� estate ta�c reporting servke used by Lender in connection wf�h this lann,unless applicable law provides otherwise. Unless an
<br /> -._— � _•-a��� . . - agroewrnt is made or applicable lew rcquires intcrcst to be paid,Lender shall nat be requircd to pay Borrower eny interest�r
<br /> � �t,.:tn•".:••,,. � earnings on the PWnda. Borrowe�and I.endcr may agree in wnuns,however,tiiat intetest shall be paid on the Funds. Lender
<br />--- i��;��;; shall give to Borrower,without charge,an nnnual accounting of the FLnds,showing credits and debits to ihe Funds and the
<br /> -- -;.;:��.,r:x:� purpose for which each debit to the Funds was miuic. 77►C FLi�ds are ptedged as addiitona!sccudty for a!!r:ums::ecurcd by
<br /> � � • this Security Insdvment.
<br />- - . ' ' ` `"' ' If 1he Funds held by L.ender exceed the umounts permitted to be held by applicable law, Lender shall uccount to
<br /> _�- ' Bonower for the excess Funds in accordance with thc requirements of applicuble law. If the amount of Ihe Funds held by
<br /> � ' � " a Lender at any time is not sufticient to pay the Escrow Items when due,Lender may so notify Horrower in writing, and, in
<br /> � such casc Horrower shnll a to Lender ihe am�unt necessary to make up the deficienry. Borrower shall muke up the
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<br /> _-- ° - - dcficicncy in na marc than twclve maathly payments,at Lender�role dlscretfon. �
<br /> '�'� T , Upon payment in full of�II sums secured by this Sewrity Instrument,Lcnder sh�ll promptly refund to Borrower uny
<br /> -� ,+ " Funds held by Lender. If,under parograph 21,Lender shall acquire or sell the Property,Lender,prior to the acquisition or _
<br /> -� ����.;,,,,._..n;,,:,;;;,,.,, sele of 1he Properry,shnll apply any Funds held by Lender at the time of acquisition or sale us A credit aguinst the sums -
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<br /> • secwed by this Security Inswment.
<br /> � ,N; : 3. Applicatlon of Payments. Unless npplicuble luw provides otherwise, all payments received by L.ender under
<br /> '�:�r, '� . • paragraphs 1 and 2 shall be applied:first,to uny prepaymcnl cluuge�du� under the Note;second,to amounts payablc undcr _
<br /> _•�; " ' " °�. • paragrnph 2;�hird,ta interest due:fourth.to pdncipnl due;nnd la.gt,to uny late charges due under the Note.
<br /> 4. Ciwrges; Liens. Borrower shWl puy all taxes,nsscssments, charses, fines und imposidons attributable to the
<br /> •� +v,►.-....,.- " , Piro p eR y which ma y anein prioriry over this Securiry Instrument,and leusehold payments ur ground rents,if Any. Borrower -
<br /> �,�.. b, .�,_ shall pay these obligations in the munner provided in paragrnph 2,or if not puid in that manner,Borrower shnll pa�•them on
<br /> �� .v' time directly to the person owed payment. BoROwer shall prompUy fLmish to Lender all notices of amounts to be paid under
<br /> . �� - � this paragraph. If Borrower mnkes these pnyments direcUy,Borrower shall prompdy fumish ta Lender recelpts evldencing `
<br /> �' ,�' .. �..... the ents.
<br /> P „ " ' Bo�rower shnll promptly discharge any lien which has priority over this Security Insln�ment unless Borrower:(u)ngrees
<br />_- „ g,.� . • in writing to the pnyment of the obligu�ion secured by the lien in u munner nceeptuble to Lender.(b)contestg in good faith the
<br /> " lien by.or defends aguinst enforcement of the lien in,legul praccedings which in Ihe Lender's opinion operate to prevent the
<br /> �� -�� � enforcement of the licn;or(c)secures from the holdcr of the lien an agreement satisfuctory to Lcnder subordinuting the lien
<br /> � ��-� '� to this Securiry Instrument. If Lender determines that any pun of the Propeny is subject ro a lien which may�ttuin priority
<br /> ��G�. over this Security Instrument.Lender mny give Borrower a notice identifying the lien. 8orrower shall satisfy the lien or take -
<br /> ' ' :r4��.' " one or more of the actions xet forth ubove within 10 days of the giving of notice.
<br /> � � - S. Hazord or Property Insurance. Borrower shull kecp�he improvements now existing or hercufter crected on the
<br /> '�� Property insured uguinst loss by fire,hazards included within thr term"extended coverage"and any olher haxurds,induding -
<br /> � � tloods or flaoding, for which Lender requires insuranre. This insuruncc shall be m�intnined in the amounts und for the -
<br /> � ,. „ � Form 3021i 9/90 pwRr:��jApag�sl �
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