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<br /> : < < '�i urtenances.and ' �'''
<br /> . �:,.� TOGE1'fiER W177�a11 the improvements now or hereafte�erected on the property.and a(1 easements.app �L .' '
<br /> . fixtures now or heteafter a part of the property. All reptaoements and additions shall also be covered hy this Security
<br /> " � Instrument_All of the foregoing is referred to in this Security Instrument a�the"Pr°Pert}+." ,
<br /> � � �.-_:�; BORROWER COV£NAN'fS that Borrower is lawfelly seued of the estate herebY conveyed and has tke right to grant and _ ; ; ,
<br /> � '�-� •- - convey the Property and that the Property is unencumbered.except for encumbrances of ruord• Borrower warranes and will
<br /> _ — "- defec��!gene�ally the title to the Property against all claims and demands.subject to any encumbrances of record. --
<br /> � THIS SECURITY INS'ITtUMEIVT combines uniform covenants for national use and non-uniform covenants witt►�isrute�
<br /> ,� � , : �. variations by jurisdiction ro consdtute a uniform serurity instrument covering real proPeny• �.� •.
<br /> � UNIFORM COVENANTS.Borrower and Lender covenant and agree as fallows: �. � - '•" ,
<br />.`' y l. Payment of Priuctpat attd Interest; Prel�aYmeat aad Late Chargcs. Boaower shall promptly pay when due the :•. . ..�
<br /> y- _ . ..4.1 '} .` •
<br /> � , :� principal of and'uuerest on the debt evidenced by the Note and acry prepaYargnt and late charges due und+er the Note. ` t _�
<br /> ' � � 2.Fands Ior Taxes and IaSVCance-Subject ro applicable law or to a written waiver by Lender. Borrower shall pay to , :Y��:�
<br /> Lender on the day monthly paymenu are due under she Note,until the Note is paid in full,a sum("Funds")for.(a)yearty taxes �=�
<br /> � eari leasehold a �-
<br /> `��"''•� and assessments which may attain priority over this Security Instrument as a Gen on the Property:(b)Y Y P Y� , . .,,-:�
<br /> d'' .`.` .L'•r�`: '` or gr oand rents on the Property.if any:(c)Year1Y hazard or property insurance premiums:(d)Yea*ly flood insurancc preanums. s : • ;,'._�.;;^
<br /> � r if any:(e)Yearly mortgage insurance premiums. if any:and(�any sums payable by Borrower to L e n d e r. i n a c c o r d a n c e with —
<br /> ' ' ��, the provisions of paragcaph 8,in lieu of the payment of mortgage insurance premiums•These�tecn�are ca11�d"�MOw Items."
<br /> `.� � . Lender may.at any eime. collect and hold Funds in an amount not to exceed�he maximum amount a tender for a federapy ��,T,"_�_
<br /> . • � ' related mortgage loan may require for Borrowei s escrow account under the federal Real Estate Setdement Procedures Act of �=� �:..r•,:�.�
<br /> � 1974 as amended from time to time. 12 LJ.S.C. Section 2601 et seq. ("RESI'A"3.��s another law that applies to the Funds ;` _
<br />- -=---- � --� - seu a lesser amount. If so, Lender may.at any time. coitect and hoid Funds in an amaunt not to exceed the tesser emounG �.
<br /> l.ender may estimate the amount of Funds due on the basis of cvrrent data and reasonable estimates of eagendiwres of future ''��'ir$,_
<br /> , ,.,'�'� Escrow Items or otherwise in accardance w�i►1�applicable law. ���.�` _
<br /> � The Funds shall be held in an insdtution whose deposiu are insured by a federal agency, in��trumentality. or enuty ���•-
<br /> • -•' � (including Lender.if l.eader is such an institution)or in any Federal Home Loan Bank.Lender shall apply the Funds io pay the :'�
<br /> �� Fscrow Items.L.ender may not charge Barrower for holding and applying the Funds,annually anafyzing the escrow account,or
<br /> � � , verifying the Escraw ltems.unless Lender pays Barrower interest on the Funds and ap,�licable law pemrits Lender to make such ,.._.�..
<br />_ . a charge. However,l.ender may require Borrower to pay a one-time charge for an independettt real estate tax reporting service � ;�y�
<br /> : . • � �ised by Lender in conaection with this loan. unless applicabte !aw provid'es otherwise. Unless an agreement is made ar =
<br /> �. applicable law requires interest to be paid.I.ender shal!not be required to pay Borrower any interest or eamings on the Funds.
<br /> ' Borrower and Lender may agree in writing.however.that�nterest shall be paici�n the Funds. Lender shall give to Boaower. �._�_;
<br /> � . . without charge. an annual accounting of the Funds, showing credits and debits to the Funds and the purpose fot which each ��,;,,_
<br /> '-�'—�--- -- debit to the Funds Kas made.The Funds are pledged as additional security for all sums secured by this Security Insuument• �s`
<br /> � ' - If[he Funds held by Lender exceed the amounts pemutted to be held by applicable law.I.ender shall account to Borrower , ,;��_
<br /> for the excess Funds in accordance with the reyuiremenu of applicable 1uw. If the amount of the Funds heid by Lender at anY ':�.., • ; . A�__
<br /> ' ' time is not sufftcient to pay the Escrow trems when due.Lender may so notify Borrower in writing,and,in such case Honower .�•_
<br /> � . ' - shall pay to Lender the amount necessary w u�alee up the deficiency. Borrower shall make up the deficiency in no more than �,-r..
<br /> � twelve monthly paymenu.at Lender's sole discretion. . ' =i
<br /> . , Upon payment in full of a11 sums secured by this Security Instrument. Lender shall prompUy refund to Borrower any '` .�' . '.,s---
<br /> • ���..:. ;,.'�=
<br /> - � . Funds hetd by Lender.If, under paragraph 21. Lender shall acquire or sell the Propeny.Lender,prior to the acquisition or sale , .,
<br /> 7.'. of the Property. shall apply any Funds held by Lender at the time of a�:quisition or sale as a credit against the sums secured by : .-i `�`
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<br /> p•r . � ' this Sccuriry Instrument. • � '•�
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<br /> 3.Apg1[catlou ot Payt�tents.Unless applicable!aw pmvides otherwise,all payments received by Lender under paragtaphs _�__
<br /> � � � 1 and 2 sFall be applied: first.to any prepayment charges due under the Note: second,to amounts payable under paragraph 2: �•:�,,,_ .
<br /> � third,to interest due:fourth,to principal dae:and last,to any late charges due under the Note.
<br /> 4.Charges:Ltens. Borrower shall pay all taxes,assessments, charges,fines and impoyitions attributable to the Property � ;: �
<br /> ':�;�' � .. , :, '� .:-..�,.__�:
<br /> � which may attain prioriry over this Seturity Instrument, and leasehold payments or ground rents, if any. Borrower shall pay
<br /> � . �, � ' thes�obligations in the manner provided in para�raph 2.or if not paid in that manner.Borrowes shall pay thcm on time directly �. ,� r _
<br /> ' to the person owed payment.Borrower shall promptly fumish to Lender all notices of amounts to be p�:d under this para�raph. . '
<br /> � � If Borrower makes these payments directly.Bonower shall promp8y fumish to Lender reccipts evidencing the payments.
<br /> . ' � Borrower shall promptly discharge any licn which has priority over this Securiry lnstrument unless Borrower:(a)agrees in
<br /> • • writing to the payment of the obligation secured by r;�e lien in a manner accep'�ab1e to i.ender:(b)contetts in gaod faith the lien .
<br /> • by. or defends against enforcement of the lien in, legal proceedings which in the Lcnder's opinion aperate to prevent the : ; ���� ,
<br /> enforcement of the lien;ar(c)secures fram the holder of the lien an agrcement satisfactory to Lender subordiirating the lien to .
<br /> , this Security Instrument. If i.ender determines ihat any psrt of t1�e Prnperty is subject to a lien which may attain priority over . .
<br /> , ' ' , this Security Instrument. Lender may give Bnrrower a nutice identifying thc lien. Borrower shall satisfy the lien or take one or
<br /> ' mare of the xctions set fonh abave within t0�ay�of the giving of rtotice. . ,
<br /> � � Form 3028 9/90 '
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