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<br /> �, � < ' • TpG�R WITH ail the improvements now on c�rcaftcr crcxtcd on the property.and all eascments,appurtenan��a�►d ,. . .
<br /> � � ` fuctures now or hereafter a parl of the pmperty.AIl repl�ccments and addirions shall atso bc covcmd b this Sec�rity . . •
<br /> "4` . . - �-.�.
<br /> � AU of the fore$oing is rcfcrred to in this Security Instrumeat as the"P�'opertY-"
<br /> � � BORROWER COVENAN'CS that Bmrowcr is I�wfully scised of the estate heieby convcyed and has the right tn grant and • • ,
<br /> ' - - - convey the Property and that the Property is unencumbercd,cxcept for cncumbrances of record.Borrowcr warrants and will •.
<br /> � - -` defend geaeraUy the d[te eo the Property a$ainst all c4wns and demands.sub,{ect m any encumbrances of reconl. . .. -_. .
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<br /> _ - - - - THIS SEC(3RTi'1l IlVSTRUN�NT combines unifam� covenants for national use and nan•uaiform covenartts with limiced
<br /> . � .-- -� variations by jurisdiction to constiwte a uniform sccurity instcumcnt covering rca!proper[y - --- �"- -
<br /> � UNIFORM COYENANTS.Borrawer and Lender covcnant and agree as foUows: when due the '
<br />�.'� ' � . �' 1.Payment of Prinapal aad Interest;Prepaymeut and Late C6acg �t and iate charBe�.s duc und�the Note. ' . � , ,
<br /> _ � �� principal of and in�erest on the debt cvidenced by[he Note and any prepaym
<br /> � ' � � Z.Fands for Taaces and Iusarance- SubJec� to aPPUcabte law or to a wtittea wa►ver by Lender.Boaower shall pay to ;�
<br /> ;�.'� .'•. . . Lendea on the day monthly payments are due under thc I�Iote,until the Note is paid'm full,a sum("Fuuds")for.(a)yearty taxes ,� :. :.j�
<br /> ' � . and asses.Qnents which may attain Priority over this Security Insuument as a lien on the Propen}.(b)Yearly teasehold payments :'.; �;"': ;,;
<br /> d any:(c)Yea�ly harard or property insurance premiums:(�Y�Y flood ins�uance praniams,if < ,�; '.,-,...-.•.:
<br /> � ' or ground renu on the Propecty,� ` �•='-
<br /> any:(e)Year1Y mon8age msivance premiums.d any,and(A anY S�Payable by Borrower to Lender.in m.cordance with the "�-
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<br /> '; provisions of paragraph 8. in liea of the payment af mortgage iusurance premiums.These items are called"Escrow Items." _-
<br /> '�. . . � � Lender may,at any time.collect and hold Fands in an amount not to eaceed the maximum aznount a lender for a frderally related c ': __
<br /> � � mongage loan may require for Borrower's escrow accounc under the federal Real Fstace Sealement Procedures Act of 1974 as i:��..-
<br /> `y . � amended from time to time,12 U.S.C.Scction 2601 et seq. ("RESPA"},unless another law that applies to the Funds scts a tesser ��'�_�, ;°s__._
<br /> • amounL If so, l.ender may.ai any time,collcxt and hotd Funds in an amount not to eacceed the lesser amount l.ender may _,' ; ,�._^
<br /> i�, � � < r,��t estimate the amount of Funds due on the basis of curren[data and reasonable espmates of expendicures of fuwre Esccow Items or __ . . ,�...�
<br /> ', `�`; t olhecwise in accordance witt►applicabte law. � .. "��� -
<br /> � ��'` The Funds shall be hetd in an insdturion whose deposits are insuied by a federal agency,instrumentality,or entity(including ��.:;�.
<br /> 1 the Funds to pay the Escrow '"
<br /> Lender,if L.ender is such an instiwaon)or in any Federal Home Loan Bank.Lender shall apP Y , '
<br /> . .' Hortower for hold'utg and applying ttte Funds,annuaUy analyzing 1he escmw account,ar vetifying ' �;:.�"�'��?
<br /> ° Items.Lender may not charge ,,��� ,
<br /> ' . the Fscrow Items.untess Leader pays Harrower intcrest on the Funds and applicable law pe,nnits Lcndea W make such a charge. ,� .
<br /> ' • However,Lender may recluire Borrower to pay a one-time chargc for an independent real estate tan rePorqnB se��c� �by ;��;
<br />_=:;t� Lender in connec6on with this loan.imless applicable law provides otherwise.Unless an agrecmem is made or applicable law �.:,:,�.;.n'
<br />:?:r:f � r�q���n�es�to be Faid.L.cnder shall nat be requued to pay$orrower any interest or eamings on the Fmmds.Bo�ower and ,:.����_;
<br /> �' ' �•' � l.Cnder may agcCL''tt�w[[[ing,however,t h at interest shall he paid on the Funds.Lender shall give to Borrawer.without chatge,un �=:
<br /> ' • annual accaunting of the Funds,shawing credits and�cbits to the Funds and the pwpose for which each debit tn the Funds was _ _ � �t
<br /> ' � • � made.The Funds are pledged as add'stional secwity for all sums sccured by this Security Instrumen� _ . _' t��
<br />''-'.�` If the Funds held by Lender exceed the amounts permiacd to be held by applicahte law,Lender shall account to Borroa'er for _ ___
<br /> the eac,ess F�rsds in accordance with the rcquircments of applicabte law.If thc amount of the Funds hetd by L.cnder at any tirt►e is 7.'�;
<br /> not sufficient to pay the Escrow Items when due.Lendec may so notify BoTrower in writing,and,in snch case Bo�rower shaU pay
<br /> . ' to Lender the amourtr ��wcary to make up the deficiency. Borrower shall make up the deficiency in no more than tweive #��"
<br /> � � monthly payments,at Lender's sole discretion. ' ' •,�-."�.:
<br /> Upon payment in full of all sums secured by this Security Inswment,Lender shall prompily refund to Bocrower any Funds . � :�;,���
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<br /> ';:'.; ,' hctd by L.ender.Ii;under paragiaph 21.Lender shall acquirc or sell thc Property.Lcnder,prior w the acquisition or sale of thc
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<br /> ''F. � , ..`; Property. shall appty any Funds held by Lendcr ac shc ume of acquisiuon or salc as a credit against the sums secured by this : •• ;.�;
<br /> • � _ Scxurity Insuumen�. : �#
<br /> licabte!aw provides otherwise.all payments reccived by Lender�ndCr paragi'aPhs �.� . <-_�•
<br /> 3.AppHcatlon of Payments. Unless app �2. >,,,::��
<br /> '�r � . , 1 and 2 shall be applied: Cust,to any prepayment charges due under the Note:second.w amaunts payable under paragia, ' � ...,r. :.'
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<br /> �;:� � �' thud,w interest due;founh,to principal due:and las�co any late charges due under the Note. . . ��__�.
<br /> 4.Charges;Liens. Bonowrr shall pay all taxes, assessmcnts,charges.Gnes and impositions attributable to the Property
<br /> �!,{: . which may auain priority over this Sccurity lnswment,and lcaschold payments or ground rena.if anY•Boaower shall pay these .
<br /> ' � oblisations in the manner pravided in paragraph 2.or if not paid in that manner,Borrowcr sdall pay them on time direcUy co thc
<br /> ' person owed paymcnt. Bonowcr shaU prompdy fumish to Lender all nouccs of tunounts to bc paid under this paragraPh. If . ,
<br /> . � •� Borrower makes these paYma�ts duccUY•Borrower shall prumpUy[umish to Lender receipts evidencing the payments.
<br /> '`'��• ' Borrower shall prompdy discharge any licn which has priority over this Security Insuument unless Bc:rower:(a)agrees in .
<br /> . writing to thc paymcnt of the obligation secured by�hc licn in a manncr acceptablc to Lcndcr,(b)wnu�in gaod faith the licn
<br /> . by, or dcfends against enforcement of thc lien in, lcgal pracccdin�s which in 1he Lender's opinian operate to prcvent the
<br /> cnforcemcnt of thc licn;or(c)secures from thc holdcr of thc licn an agrccmcnt satisfacmry co Lcndca a:bordinating thc licn to
<br /> .::,,.:; this Security Instrumen4 If Lender determines that any part of the Property is subject to a lien which may 2uain priority over this . . . . .
<br /> � • ' Security Inswmcnt,Lcndcr may give Borrowcr a noticc identifying the licn.Boaowcr shall satisfy the lic:or take one or more
<br /> � . �, of thc actians sct forth abnvc within 10 days of thc giving uf naticc. Form 3028 9�90 .
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