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<br /> _ TOOB7'HEIt WITH�11 the improvemente naw or hereafler erccted on the property,and ell eascments,appunenancer,and �
<br /> — fialures �ow or herwfter a pan af �he propeny. All replacemente wtd adJitions sholl also be coverod by thi� Secudty
<br /> _ `- - ---- ---- - Inurument.All ot the foregomg is retcrre�ia m�his Socunty insuun�em ax u�r "P�upc:riy.” .`
<br /> BORROWER COVL�NANT3 that Borrowar ia lawfully ceisod of the estate hcreby conveyed and has the right to grant und
<br /> � convey the Property and tlwt the Praperty is unencumbered,except far encumbrances of re.�ord. Borrawer wurrAnts and will
<br /> _`�� defe�d genetally Ihe ti11e ta the Propeny against ull claims anddemands,aubject to uny encumbrartces of record.
<br /> TI�iS SECURITY 1NSTRUMENT cumbincs unifurm cavenants for national usc und non-unifarm covetwt�ts with limitad =
<br /> - varf�tions by Juricdictfon to ccnstitute a uniiorm security instn�ment covering rcal proper►y.
<br /> UNIFORM COVENANTS. Borrower snd Lender covenant and agree as follows:
<br /> l. Payment of Principal pnd Intenat; Prepayment ond l.�te Charges. Borrower shull promptly puy when due the, __
<br /> "' ,. ,,�q prinefpal af and in[erest on the debt evidenced by ti�e Note and a�y prepayment and iate charges due under the Nate.
<br /> �t��'� 2.hund�Pac Taxev pnd InsurAnce. Subject to applicable law or to u wrltten waiver by l.ender, Borrower shall pay to
<br /> -�--� ��=°'�`°-,� l..ender an the day monthly payments arc duc under the Nate.until the Note is p�id in full,a sum("Funds")for.(a)yearly taxes _.�
<br /> _ -- and ossessments which may uttain priority over this Socuriry Instrument as a lien on the Propeny;(b)yearly leasehold paymenis
<br /> -- . -- �• �- or grounci renta on the�ropeny, if any;(c)yeuriy hawrd or property insurance premiums;(d► yearly f7ood insurance premiums, '-
<br /> �� �' ' if any; (e)yeurly moctguge insuranre premfums,if eny; und(� uny sums payAble by Horrower ta[.ender. in accordance with -
<br /> ��� , ._".L14
<br /> ���� • the provisions of paragraph 8,in lieu oP the payment af mortgoge insurance premiums. These items are callal"Bscrow Items."
<br /> � Lender may, at any time, collect and hold Funds in un amount not to exceed the msiximum amaunt u Iender far a federally
<br /> "'~'?�;s;is,��,,�; � releted mo�gege loan muy requi��e for Sortower's escrow account under the federal Real Ectate Setdement Procedures Act of
<br /> � J.:'<.._, . . , .
<br /> ___� � - ^��` � 1974 as wnended from timo to time. 12 U.S.C. Section 26Q1 et sey. ("RESPA"), unless another 18w thnt applies to the Funds �
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<br /> Y.�,,,����,^., ,� :: _ sets a lesser amount. !f so, Lender may. a� any time, collect und hold Funds in an amount not ta excced the lesser amount.
<br /> _ � Lender rrwy estimete thc amount of Funds due on 1he busis of current datu and reasonable estimates of expendiwres of fuwre
<br /> ��.�'���� '.:�,� ' Escrow Itema or otherwise in uccordance with applicnble law. �-
<br /> _•--_-,_i-- , - ... 'I'h!� Funds �hk!! be held in an in�titution whncP �i��nita nrr_ in�orwl hy H f�vlrrnl q��nry, incln.nrwntnliry. nr rntity =
<br /> � (including Lender,if L.ender is such an instiwtion) or in any Fecieml Home Lc►an Bank. l.cnder shall apply the Funds to pay the
<br /> �" � ' �� a • Escraw Items. I.ender mny not charge Borrower for holding an�l applying the Funds,annually anatyzing the escrow account.or
<br /> -`� � ���'�"'�'� verifying the Escrow Items,unless I.ender pays Borrower interc�t on the Funds and applicable law permits I.ender to make such
<br /> �� �W� ���W�~ a chArge. However, Lender may require Borrower to pay A one-time churge for an independent real estate tau reporting xervice -=
<br /> '.�� , ������.,,.,:.d�:�:` used by Lender in connection with this loan, unless upplicable luw provides atherwise. Unless an Agreement is mnde or
<br /> ;'.� f ��;Z�.�.' .,e. ,• applicable law requires interest to be paid, Lender shall not bc required t�puy Borrower any interest or eurnings on the Funds.
<br /> - - • - .. �-- - Horrower und Lender may ogree in writing, however,tbat inuresi shuil be puid u��tiie Fw�i�. i.r�xtnr allull�iYC tu SOi70W�i,
<br /> - � " '� . � � � without charge, en annunl uccounting�f the Fund�,showing credits and debits to the Funds und Ihe purpose for which each
<br />-: " ° debit to the Funds was mude. The Funds are pleclged us ndditional security for all sums secured by this Se�:urity Instrument. �__
<br /> _ ' If the Funds held by Lender exceed the amounts permitted tu be held by applicnble Inw, I.ender shall accaunt to Borrower
<br /> - „ � for the excess Funds in uccordnnce with the requirements of appllcublc IAw. If the umount of the Funds held by Lender at any
<br /> -- . <�;: - �� time is not sufficient to pay the Escrow Items when due. L.ender nmy w notify Borrower in wri�ing,und,in such case Barrower _.._
<br /> _ , � �; ., �• shall pay to Lcnder thc amount necessnry to mukc up the defiriency. Borrower shull make up Ihc deficiency in no more than
<br /> - twelvc monthly puyments,at Lender's sole Jiscretion.
<br /> .. , Upon puyment in full oP all sums secured by this Security Instn�ment. I.i;nder shull prWnpdy refund tu 8orrower any -
<br /> �y Funds held by Lendcr.If,undcr parngrnph 21,Lcnder zhnll ucQuirc or rell thc Property,Lender,prior ta the ucquisition or sale =_-
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<br /> �' "�`";� • ' "" of the Propeny, shall upply any f'unds held by L.ender at the�ime ot'ucyuisition ur sale as a credit ugainst the sums secured by �_-.-=
<br /> �� this Security Invtrument.
<br /> r�� 3.Applkation uf Payments.Unless Lppliwble luw prcwides otherwise,ull payments received by Lender under paragrnphs
<br /> ,'• , .,, . . . �' 1 und 2 shall be applied: first,to uny prepaymcm�hurgcs due under thc Nwe; scrand, to umounts paynble under purugrnph 2; �—
<br /> .• :`�.r. ,. „�� third, to interesl due;fourth, w principrl duc:;und lus�,tu any laee charges due under the Note.
<br /> ,:• - � 4.Ciwrges: Ltens. Borrower sh�ll pay ull luxes, a,sr�.menl+, churges, fines�nd impusitions uttributs�blc t�►the Property -
<br /> � 'Y�� • 4; which ma,y attain prioriry ovcr this Seiurity In�trumcnt, and INUSehuIJ puyments �►r ground ren�s, if any. &►rrower shall pay
<br /> � ., these obligutions in the munner proviJ��J in parugrupli 2,or il'not pai�in th�t manner, t3orrawcr shull puy them on time directly -�
<br /> � ..' to the per.+on owed puyment. Borrowcr shall prompdy furnish�u Lcndcr ull notirc�ol'umounts to bc puid undcr this parugraph. -
<br /> �. . ' ' "� If Borrowcr makes thex pnyments Jirectly.&�rruwcr+hull pn�n�ptly t'urninh to I.endcr reccipt+eviaiencing the payments.
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<br /> . , . Burrower shull promptly dischurge uny licn which has prioriq•u�•cr thiti S:�urity Ins�rument wilc„Borrower: (u)ugrces in �
<br /> writing to thc payment of thc obligation securcJ by thc lien in a manner ar�eptahl�t��LcnJcr: (b1�untests in gcwd fuith the lien '"''�
<br /> °'� by, or detcnds ng•rinst enfi�rcement of thc licn in, le�al pra��din�tti w�hich in thc L.nd�r'. apinion op�:rute tu prevent [he - -
<br /> , "� "l enforremcnt of the lien; or(c)sewres fr��m thc hnWcr cil'1hc licn an ugrcrmrnt,ati.tara�ry w Lcndcr tiulx►rJin•rting thr licn to =_
<br />, ° ' _ . � � this Security Instrument. If Lendcr detenninc,thut any purt �d'[hc Prvi�xrty i� .uhjrrt tu a licn��•hirh muy attuin priurity ovcr �`
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<br /> �� .; .�, this Securiry Instrumem, Lendcr m�y gi��c eurrciwer a notirc iJentif}•in�thc lien. Horc��wcr shull�atisfy thc lien ur tnke one or ;,
<br /> � , more nf the actions set 1'orth above within IU duys uf�hc giving��f M+ticc. ��
<br /> .� Form 3028 8/90 -,
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