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<br /> � TOGG1'HL'R WI'1'I I nll the impr�wcmcnts nuw cn c�rcaFter crectcd on thc pruperry, und ull casemcnts, uppurtcn�tnccs, and
<br /> �•% I"ixtureti no�v ur hercui'ter a purt of the pmperty. All repinc�mentti and udditions shi�ll nlsa hr arvered by this Security `��
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<br /> Intitrument.All of tlic furegning iy referrcd to in this Sccuriry Instrument ns the"Property." -
<br /> ^ BORROWER COVGNANTS that Borrowcr is luwfully sciscJ uf t�cestatc i�creby convcycd and hns thc right to brant and -
<br /> ronvcy the Properry nnd thut the Property is wicncumbered, except for encumbrnnces uf recnrd. Borrower warrunts and will •
<br /> . . defend gui�r.tUy tlu lillc lu lhc Properiy uguinst��U cluimy uuJ denuutd�. wb}ect tu uny eucumbruucc,uf rrrurd.
<br /> � " THIS SECURI7'Y INSTRUM�NT combincs unifonn cavcnancs farnational usc und noa-uniform covenunts �vith limltcd -
<br /> _.._....__:._ � v�rii!tivn,bg jurisdictii,n to con�timte u�mifbnn securiry instnimeiu ru�•�riug teul properly. �
<br /> -- UNIFORM COVENANTS. 8orrowcr und L.endcr cuvennnt und ugr��cas follows:
<br /> l. Pi�yment oP Pr(ncipul nnd biteresh Pi•epAyment nnd Lnte Chur�es. Borrowcr shall promptly pay when due thc ,."
<br /> �, principal of and interest oiti the d��ht evidenced by the Note and uny prepayment and late ch�uges due under the Note.
<br /> 2. Fwids for Tnxes nnd InsurAnce. Subjcct w npplicaUle law or tou written wuiver by I.c�nder, Bor�•ower sliall pay w `
<br /> , Ixnder cm the day monthly puyments are due undcr the Nc�te.until thc iVo�e is paid in f'ull.u sum("Funds")for:(n)yearly taxes r�
<br /> • artd.use�sment�which may attuin priority over this Security Instrument asa I ien on the Property; (b)yearly leasehold payments -_
<br /> � • or mund rents on the Pro crt if an (c) early hazard or ro en insurance remiums; (d) earl flood insurance remiums, �y:
<br /> � p Y• Y� Y P P Y P Y ' Y P
<br /> ,;,�; if any; (e)yearly mortgage insurance premiums, if any; and(� uny surnspuyable by Borrower to l.ender, in accordance with ���
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<br /> k�; .r. •',..;•. the provisions of paragraUh 8, in lieu of[he payment of mongage insuranre premiums.These items are called"Escrow Items." a;,:_
<br /> ;�;t�:< �;.,, Lender rria
<br /> ,� ,::� . • °. y, ut any time, collect and hold Funds in m� amount not to exceed the maximum amount a Iender fur u federally
<br /> ;.;�� - related mortgagc loan muy requirc for Borrower's escrow account under the federal Real Estate Setdcment Procedures Act of
<br /> 1974 as amended fram timc to timc, 12 U.S.C. Section 2601 et se�. ("RFSPA"), unless unother luw that upplics to the Funds
<br /> '��' sets a lesser umount. If so, L,ender m�y. at any time, collect and hold Funds in an umount not tu exceed the lesser amounL �
<br />=,e� .�., Lender may estimnte the amount of Funds due on die basis of current duu and reasonable cstimntes of expenditures of fuwre �� '
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<br />-`�°�•��=" Escrow Items or othenvisc in accordan�e with applicable law. �:,-
<br /> The Funds shall be held in an institution whose deposits ure insured by a fedcral agency, instrumentality, or entity �1
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<br /> (including Lender, if Lender is such an institutioi�)or in nny Fedcral Hornc Loan Bank. Lender shall spply the Funds to pay the -�.�
<br /> "��'-`'"'Y� Escrow Items. Lendcr ma not char e Borruwer fur twldin and a I m ihe runds,annuull anal zin the escrow account,or "`-
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<br /> =:'•iT�tt!}, , verifying the Escrow Items, unless Lender pays Bottower inrerest on the Funds und applicable law permits I..ender to make such ■t_�
<br /> ��';:�'^� ' a charge. However, Lender may require Borrower to pay a one-time charge for an independent real estnte tax reporting service ==
<br /> �:`'��� '�4 used by Lender in connection with this loan, unless applicuble law provides otherwise. Unless an agreement is made or —
<br /> "" =_-,:,;�. sppiisabie iaw requires intcrest to be pa�d, Lender shalt not be r�quired to pay Borrower any interest or earnings on the Funds.
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<br /> �;3iru'��:,;�.,,. Bonower and I.ender may n�rce in writing, howevcr, thut interest shall be paid on the Funds. Lender shall give to]Bono�ver,
<br /> �v;;�,�:.��F, tivithaut charge, an annual acrnunting uf the Funds, shotving credits and debits to the Funds zuid the purpose for which each --
<br />-_- '• .?:�,, debit to the Funds was mude.The Funds arc plcdged as adt�itional security(or aU sums secured by this Security Instrument.
<br /> -�•���!+�_�� �' [f thc Funds held by Lender exceed the�mounts permitted to be held by applicable law, Lender shull account to Borrower
<br />-�-�� ��: � for the excess Funds in accordunce with the requirements of applicable la�v. If the amount of the Funds held by Lender at any
<br /> ;';;�k� time is not sufficient to pay the Escrow Items when due,L�:nder may so naify Borrawer in writing,and,in such case Borrower
<br /> _-_- �-==� � shall pay to Lender the amuunt necessary to mal:e up the deficiency. Bqrrower shall muke up the deficieney in no more than °
<br /> -��±`'� twelvc monthly payments,at Lendcr's sole discretion.
<br /> -�` """�- Upon payment in full of all xums secured by this Security Instrurnent, Lcnder shall prompdy refund to Borrower any
<br /> -"- °`:,� ", Funds held by Lender. If,undcr paragraph 21, Lender shall acquire or sell ihe Propeny,l.endcr, prior ro thc acquisition or sale
<br /> -'"'- , of the Property. shall apply nny Funds held by Lender at tfi�e time of acquisition or sale as a credit against the sums secured by
<br /> _- this Security Instrument.
<br />------ ; 3. Appllcation of Payments.Unless applicable law provides otherwise,�II payments recsived Uy Lender under paragraphs
<br /> ------- I and 2 sliall be applied: first,to uny prepayment charges due under the Note;second,to amounts payable under pan�grnph 2;
<br /> _ third,to interest due;fourth,to principal due;and last,to any lute churges due under the Nute.
<br /> _ ____ 4. Charges;Lle��s. Borrower shall pay all taxes,assessments,charga, fines and impositions attributable ta the Property —
<br /> _°°°�-= which�uay uttuin priority over this Socurity instrument, and leasehold payments or ground rents, if any. Borrower shall pay
<br /> these obligations in the manner provided in paragraph 2,or if not paid in that manner, Borrowe�shall pay them on time directly
<br /> ---� � . to the person owed payment. Borrower shall promptly furnish to �.cndcr all no2ices of amounts to be puid under this paragraph.
<br /> ___ If Bonower►nalces these payments directly, Borrower shall promptly furnish to Lender receipts evidencing the payments. -
<br /> __ = Borrower shnll promptly dischurge any lien which has priority over this Securiry Instntment unless Borrower: (a)agrees in
<br /> writing to the payment of the obligation secun�by the lien in a manner acaptable to Lender;(b)contests in good faith the lien
<br /> _____ by, or defends against enforcement of the lien in, Iegal pmceedings w{�ich in the Lender's opinion operate to prevent the _---
<br /> _ -T_� enforcement of the lien; or(c)secures from the holder of the lien an agreement satisfactory to Lender subArdinating the lien to -
<br /> -�'"""�`�' this Security Instrumcnt. If Lender detemiines that any part of the Property is subject to a lien which may attain priority over ��-
<br /> �='`'"��;�'•`'� ' , this Security Inswment, Lender may givc Borrowcr a notice identitying thc lien.Boreower shall satisfy thc licn or take one or -_ -
<br />_.:����"`:;,�� more of the actions set forth above within(0 days of the giving of notice. `��
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<br /> Form 3028 9/90 �"`
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