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<br /> _ � TOC7ETHER WITH all Ihe improrerttenta now or herca�fter erected on U�e property,end ali easementa.appunerwacea.a�d
<br /> � — fixturcs now or Itereaftcr a port of �he property. All replucements and addilions shall Wso be ccver�ed by this Security -
<br /> Itutrutnent. All of the foregoing is rePercod to in thia Sccurity Inatrument�:the "Propeny."
<br /> BORROWER COVBNANTS that Borrower Is lawfully scir�ed of the estate hcreby conveyed wx�haa the right to grant and
<br /> " - convey the Property and�hnt the Property i�unencumbered, except for encumbrnnces uf're�:orJ. Borrawer warrrntA and will
<br /> :�,. defrnd generally the tftle to the Property ngaia4t all cluima wKl demands,subject to sny encumbrances of record.
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<br /> THlS 3ECURITY INSTRUMENT combines uniform covenants for rwtiunul u�and non-uniforn�covenunt�wiih limitod
<br /> variations by judsdictioa to constitute a unifortn security instrument covering real property. `
<br /> - � UNlPORM COYENANTS. Borrower and Lender coverwnt and ugree As followx:
<br /> 1. Paymeat of Princfpol and Ipterect; Pre�ayment and laite Charges.Born►wer shall promptly pay whcn due the.
<br /> principal of and interest on the debt evidcnced by the Note and any prepuyment rand late charges due under the Note.
<br /> �"�"�"''�;� 2. Funds for Taxes and lnsurence. Subject to applicable law or to a wriuen wuiver by Lender. Borrower shell pay to
<br /> �-�natt,_!��.::,'�
<br /> __�~����.�a;;�� Lender un the day monthly paymenls are due under the Note,until the Note is paW in full,a sum("Funds")fnr:(a)yeurly taxes
<br /> "� -- �-..�o. un�l a,�rssmtins whkh n�ay attain priodry over this Sccurity Instrument as a lien on the Property;(b)yearly leasehold payments _
<br /> - .�_•�� or ground rents on the Property, if any;(c) yearly hazard or property insurance premiuma;(d)yearly flood insurance premiums,
<br /> �"--- if any;(e)yearly mortgage insurance premiums,if any; and (�Any rums pnyable by Borrower to L.ender, in accordance with
<br />��-� the provisiona of paragraph 8,in lieu of the payment of mortgage insuroncc premiums.Thesc items are called "Escrow Items." _
<br /> _ — Lender mey, at any time, collect and hold Funds in un amount not to exceed the maximum umount a lender ior a federelly
<br /> related mortgage lo�n rney require for Borrower's escrow account under the fodeml Real Estate Settlement Procedures Act of
<br /> - -- �l�'� � 1974 a.s sunended from dme to time, 12 U_S.C. Section 260! er se�. ('RFSPA"1,unless unaher luw that applies to the Funda
<br /> .—�;W�xitiry�;Y`;,t ��
<br /> �;,�;_y,;�,y,,.,,, sets a lesscr amount. If so, Lender mey, at uny time, cnllect und hold Funds in an wnount not to exceed Ihe lesser amount.
<br /> —_-- -"'�`���" l.ender muy estimute the amount of Funds due on the basis of current data and reasonablc estimetes of expenditures of future -
<br /> "�'�° `�'-'•'•" � • Escrow Items or otherwise in nccordance with applicable law.
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<br /> The Funds shall be held in an iastitution whose dcposits ure insured by a federul agency, instrumentnlity, or entity
<br /> — '"" �` "� (includin Lender,if I.ender is such un instimtion)or in an Feder�l Home Loan Bunk.Lender shull apply the Funds to pay the
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<br /> `• �t`°"'"'� ��� Escrow items. Lender muy not charge Borrower for holding and s�pplying the Funds. annually analyzing the escrow account,or
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<br /> -- ,.�.:•.;•. . verifying thc Escrow Items.unless Le�der pays Borrower intcrest on the Funds and applicable law permits I..ender to make such
<br /> -'-•'.� ;.,;;,v;_.:�._� � a charge. However,Lender may requ ire�orrower to puy n one-time cherge for an independent real estate tax reporting service
<br /> •-_- used by Lender in connection wi�h this loan, unless applicable law provides dherwise. Unless an agreement i� mude or
<br /> --'�., . .� applicable law requires inlerest to be paid, Lender shall not be required to pay Hortow.r any interest or earr�ings on the Funds.
<br /> �� � Borrower?rxl I end?r rrwy a�ree in writing,however.that interest shall bc paid an the Funds. L.ender shall give to Borruwer.
<br /> �;. �T . ��• :. without charge,an unnual accaunting uf the Funds, showing cr�its und debits to the Funds und the purpose for which each
<br /> —_ ,. . debit to the Funds wns made.The Funds are pledged as additional security for all sums secured by this Security instrument
<br /> • � ��•'���.. If the Funds hcld by Lender eaceed the nmounts permiucd ro be held by upplicable law,l,ender shall account to Borrower
<br /> � `r``' ^ for the cxcess Funds in accordance with the requirements of applicablc luw.If the anwunt af the Funds held by I.ender at any
<br /> - �.�'���� ��• time is not sufficient to pay the Escrow Itetns when due,i.ender muy so notify Borrowe�in writing,und,in such cuse Borcower -
<br /> .,� •�.. " ' shall pay to Lender 1he amount necessory to muke up the deficiency. Borrow�r shal l make up the deficiency in no more than -"
<br /> __= ±�n+i�Y��'���- '�^'r�r- twelve monthly payments,at I.endePs sole discrction.
<br /> —��-_,,.- _
<br /> ' ^` � � Upon paymen� in full of uil sums secured by thi� Security Instrument, Lender shull promptly refund to Borrower any
<br /> •.� `��� � "q Funds held by Lender. If,under purugraph 21, Lendcr shall�cquire or sell the Property,Lender,prior to the acquisition or sale
<br /> �_,t,,,_,h � ..,_h.;, of the Propeny,shall apply ony Funds held by Lender at the tirr�of ucyuixition or sal�as a credit against the sums secured by
<br /> _w °r�,. -.; :�: .=_ - this Security Instrument. -
<br /> " ar.� 3.Appllcption of Ppyments.Unlcss :�pplicablc luw providcs othenvise,ull payments received by I.ender under paragraphs
<br />•�r ����.'"�'"" I und 2 shall be a li��d: first,to an re a ment chur �ti duc under the Notc; s�tiond,t�i amounts a abte under are ra h 2;
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<br /> L�+ third.to interest duc:fourth,to principal duc;und last,tu�ny late churges due under the Note.
<br /> _ �'" •• � r" ' 4. Clwrges; Licnx.Borcower shall pay ull tuxes,usk�smcnt,,rhurgcs, tincs und impositions uttributable to the Property _
<br /> � � which may attain priority over this Security Instrument, und leu+chold puyments or ground rents, if any. Borrower st�all pay
<br /> �i? . ., U�ese oblig�tions in the nwnner provicied in p•rragruph 2,or if not paid in thut msumer,Borrower shall pay them on time directly �
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<br /> :X to the pc:rson owed payment. Borrower shall prcimpUy furnish tu LenJer ull notires of wnowuti w be paid under this paragraph. -
<br /> _� . If Borrnwer makes thesc paymcnts dir«11y,&►rrowcr+hull prompUy fumitih to I.ender rercipts cvidencing the payments.
<br /> .���. ° ° Borrowcr shall prumptly di�ch�rge uny licn which hus pri�irity uvcr thi.Security Inslruineni unletis Borruwer:(n)agrees in _
<br /> -" � �- �"��:�: '�� writing tu the p�ymcnt of the��bl igutinu secu2J by thc licn in a munncr arccpt�hle tu Lrndcr;(b)cante�ts in g�wd fAith the licn -
<br /> _�;.,i'; � s�� '~ ' by, ur defend.r• against enf'orrcnum uf Ih�licn in. Ic�!ul pri�c��•Jing�whirh in ihe LenJrr's opiniun oper.�tc to pRVent the
<br /> - - �� � enPiircement of thc lien;ur(r)+��ure.Gmn thc h�►Idrr ol'thr lien au�grerme��t ti•rtitifuclur}� to LenJer suborJinating the lien to
<br /> a`� �•�'°'�'�'��;�� '' this Scrurity Instrununt. If l.cndcr Jctcnninc� (Ildl :f0y pJll ul'thc Pruprrty iti ,uhjrrt���a licn w�hich m•ry �ttain priariry over
<br />___ ; M�� � this S�tiurity Instrumcnt.Lcndcr may gnr F��rruwrr u m�licr iJcntifying thc li�n.li��rrnwcr tihall +•rtiafy the lien or take one or
<br />- � more of the uctions set 1'onh abovc within lOJuys of the giving of iw�irc.
<br /> ; T,� Form 3028 9/90 �
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