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<br /> TOC367'HEtt WITH all the impmvementa now or her+e�fter crcctcd oo the propeAy.and aH earemenu,oppurtetumca,
<br /> -_— - �nd flxturcc now ar tKrexfter a prrt of the prupesy All repiacements und addidona shall�I�o 6e eove►cd by Ihis 5ocurity
<br /> Instrument. All of the foregoing is rofemd to in this Secudty Inswment ws the"Property."
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<br /> BORROWER COVBNANTS tlwt Borrower is luwfully scfaed of thc estate heneby conveyed and has Ihc right to grant
<br /> _,..�� �nd comey tho Prope�ty And that the Propecty ir unencumbered,except for encumbrancea of recard. Borrower warr�nla�nd
<br /> :':��'� will defend genernlly the title to the Property�gainat All claims end demanda,subject to any encumbrAncar of recor�d. '
<br /> U' 7'H1S SECIJRiTY INSTRUMP.NT combines unifatm covenants for natlotwl use und nan-uniform covetwnt� wlth �
<br /> Ilmited variationa by judsdiction to wnstilute a uniform security instrument covering mal property.
<br /> � UNIFORM COVENANTS. Borrower aod Lender covenent and agree as follows:
<br /> ��� 1, payment ot Princlpal and lateresti 1h'epayment And Lpte C6arga. Bocrower ahall promptly pay whea duc the
<br /> _ �""�'�"m���`�`- princlpa1 of and interest on U►e debt evidenced by the Note and any prepayment und late chatges due under the Note.
<br /> ___- +--u:y-,�=' 2. Funds tor'I�es aad Insurance. SubJect to applicable law or to u wdtten waiver by Lender,Borrower chall pay to .
<br /> '- Lender on the day monlhly paymcnts are due under the Note.undl the Note ia peld in full,a sum("Flmds")for:(a)yearly
<br /> —��� taxes end aesessments which may attain prlority over tf�is Secudty Insuument as a lien on the Property;(b)yearly leasehold
<br /> —°°"?��'A7�� payments or ground rents on Uu Property. if any; (c) yearly hazard or property insurance premiums; (d) yearly flaod
<br /> -- � insurance prcmiums. if any; (e)yeuly moRgage insurance premiums, if any; and (�any sums puyable by Borrower w
<br /> ������ I.ender. in accordence with the provisions of paragraph 8.in lieu of the payment of moRgage insutance premiums. These
<br /> — — items are called"P.scrow Items:' Lrnder may.at any time,collect and hold Punds in an amount not to eaceed the meximum
<br /> -------- emount a lender for a federally related mortgage loan may require for Barrower� escrow account under the foderal Real
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<br /> --- -- - -- Estatc Settlement Procedures Mt of 1974 es emended from time m time,12 U.S.C.§2b01 er seq.("RESPA"),unless another
<br /> —_. �,=�°�-° - Isw that applies to the Plmds sets a losser amount. If so.[.ender may.at any time,collect and hold Funds in an amount not to
<br /> s exceed the lesser omount. Lender may estimate the amount of Funds due on the basis of current dau►and reasonabie
<br /> __ �.: 4 ` estimates of expenditures of future Fscrow Items or othenvise in uccordance with applicable law.
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<br /> ;_ �■�.;�;«---:--..:�. .: The FuuJx atwll be held in an insdtution whose dcposits are lnsured by a federnl agency, inaqumentaliry,or entlty _
<br /> � � � (including Lender,if Lender is such an inatitution)or in any Federal Home Loan Bank. l.ender shall apply the Funds to pay
<br /> � •• "' �;:-,,�_+• the Escrow Items. l.ender may nat charge Borrower for holding and applying 1he Funds,annunlly analyzing the e.scrow
<br /> ,y-"� :�,��':;` ,• - eccount. or verifying the Escrow Items,unless Lender pays Borrower interest on the Funds and applicable law permits
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<br /> �_��, � Lender to meke such n chnrge. However, Lender may require Borrower to pay a one-time cherge for an independent�al
<br /> :'';�.r.:-��''`.�'`;�: estate tax reporting service used by Lender in connection with this loan,unless applicable law provides otherwise. Unless an
<br /> - ����=�r agreement ia made or applicnble law requires interest to be paid,Lender shall not be required to pay Borrower any interest or
<br /> ' �� r•�•'- �-� � � , eamin s on the Punds. Borrower and Lender ma a in writin however.that interest shall be paid on the Funds. Lender
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<br /> -•-_- k�-���;�;,�;:� shull give to Borrower,without charge.an annual accounting of the FLnds, showing credits and debits to the Funds and the
<br /> F..=tr,�;.:-{;;=.-.• ,:�LL Purpose for which each dCbi�tu thC Fu�nt,was niade. The Fvnds arc ptcdgcd�:,�c3dit{oes!securiiy for ts!!sums secured by
<br /> - ..�,��?✓�r�:, thi�Security Instrument. _
<br /> 4+u,a�rr. If the Fbnds held by Lender exceed the amounts permitted to be held by applicable law, Lender shall account to
<br /> . • ' � Borrower for the excess Funds in accordence with the�equinements of applicable law. If the amount of the Funds held by
<br />_ .. � - - . • � Lender at any time is not sufficient to pay the Escrow Items when due,l.ender may so notify Borrower in writing,and.in
<br /> . -!!�4 . � •�- � a auch caxe Borrowtr shall pny to Lender the amount necessory to make up the deficiency. Borrower shall meke up the
<br /> - � """"' deficiency in no more than hvelve monthly puyments,nt l.ender's sole discretion.
<br /> � � ���� �� Upon payment in full of a11 sums secured by this Security Instrument. Lender shall promptly refund to Borrower any
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<br /> . �.'�, ,__ � *� ••� Fim�is held by(.ender. If,under paragraph 21,Lender shali acquire or sell the Property,Lender,pdor to the acquisition or
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<br /> sale of the Property,shall apply any Funds held by Lender at the time of acquisition or sule as a credit against the sums
<br /> � � ' . ���� Qe�;ured by this Securiry Instrument. °
<br /> 3. Applicnt[on ot Payments. Unlers applicnble luw provides otherwise, ull payments m.ceived by I.ender under _
<br /> �+�;� �',�� ,�;,;� paragmphs 1 nnd 2 shall be applied:first,to any prepayment churges due under the Notc;second,to amounts payable under
<br /> paragraph 2;third,to interest due;founh,to principnl due;and last,to nny late charges due under the Note.
<br /> L�;� ''y e� '� � � 4. Charges; Llens. Borrower shall pny vll tnxes, ussessments, charges,fines nnd impositions attributable to the
<br /> ��r��--• • Property which muy attein prioriry over�his Security Inswment,and leuaehold paymems or ground rents.if any. Borrower
<br /> ��.:• °;x,�,v�. � _ ahall pay these obligutions in the mnnner provided in purugruph 2,or if not paid in thut manncr,Borrower shull pay them on
<br /> c time directly to the person owed paymcnl, Borrower shull prompdy fumish to Lender all notices of amounts to be paid under
<br /> `, ° ' �•� •�� ., this paragruph. If Bortower maKes these payments directly,Borrower shall promptly furnish to Lender receipts evidencing
<br /> � ' the payments.
<br /> ; " ' Borrower shall promptly discharge any lien which has priority ovcr this Security Instrument unless Borrower:(a)ngrees
<br />�►,,_ ' " in writing to the payment of the obligation securcd by the lien in u mAnner acceprrble to Lender;(b)contests in good faith the -
<br /> N�_ .�,, lien by.or defends against enforeement af the lien in,legnl pmceedings which in the Lende�t opinion opernte to prevent the
<br /> ` • � '�<••��•� 4� • enforcement of the lien;or(c)secures from the holder of the lien nn agreement satisfacrory to I.ender subordlnnting the lien
<br /> . •, �� � ` to thls Security Instrument. If Lender delennines thut uny part oF thc Property is subject to a lien which may uttain priority =
<br /> �,,�� over this Security inshument.Lender may give Borrower n notice identifying the lien. Borrower shall satisfy the lien or take
<br /> ��1�fu°,�.�.•t.�s���- �� one or more af the actions set forth ubove within 10 days of the giving of notice.
<br /> . ..' . .;,,, _ 5. Hazard or Property Insurance. Borrower shall kecp the improvemems now existing or hereufter crected on the
<br /> ° Property insured against loss by tire,hazards included wilhin the term"extended coverage"anJ any uther hnzurds,including -
<br /> • floads or tlooding, for which Lender requires inburance. This insurunce shall be maintained in the amounts and for the °
<br /> � ��'..'... a" Form 3028 9/90 fpaRe 2�,jn pnxesl �--
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