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<br /> `fOGETHER WITH all the improvemenu now or hereafter e�ected on the proprrES'.and all easemenis.appnrtenances.and .,_'. .,. _
<br /> � � fixtures now or hereafter a part of the property. A!1 replacemeats and additioas sh�ll also be rnvered by this Security
<br /> `. ' . � -` Inswment.All of the foregoing is referred to in this Security Instrument as the"Propecty.' • �
<br /> �, ;'r�..
<br /> BORROWER COVBNANTS that Borrower is lawfully seised of the estate hereby conveyed and t�as the right to grant and
<br /> � .� � � i,,�.; convey the Property and that the Property is unencumi+eied.eacept for encumbrances of recard. Borrower warianu and will ._
<br /> � �' <--�'`y.-�-��'"�'� defend generally the title to the Property against all claims and demands.subject to any encumbranoes of rernrd.
<br /> -" ';;._;;_:_ ..�_ THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited ,
<br /> , � �' variations by jurisdiction to constitute a uniforrt�security instrument covering real pn+percY- " -' ;
<br /> � •` ` UDIIFORM COVENANTS. Borrowe*and Lender rnvenani and agree as fapows: ` �° 4:<.
<br /> � .. 1. Paymeni of PrincipW and Inter� prepaYment and Late Charges. Eorrower shall promptty pay when due the �.,
<br /> � principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under tde Note. � t �
<br /> � - 2.Fnuds for Taxes and inc�*s+nc�• Subject to applicabte law or to a written waiver by Lender. Borrower shall pay to ___
<br /> `�I''� Lender on the day monthly paymeats are due under the Note,until tlie Note is paid in full,a sum("Funds")for:(a)yeariy taxes .
<br /> � and assessments which may attain priority over t6is Secw'ity Instrument as a(ien on the Property;(b)yearly teasef�old payme[tts , <r ;� _
<br /> �� ' `, ;`, or ground rents on the Property.if aay(c)YeulY ha�ard or property insurance premiums:(d)Yearly ftood iasurance premiums. . • . �:;; -
<br /> . if any: (e�YeartY mortgage insurance premiums.if anY:and(�anY sums payable by Borrower to Lender.in accordance with : � . ._
<br /> �`- ��._. �. •
<br /> � �.r:,= the provisions of paragraph 8.in lieu of the payment of mortgage insurance premiums.'I'hese items are called"E scraw items." ,� . L F ,_
<br /> ; � Lender may,at a�ry time, collect and hold Funds ia an aznount noi to eaceed the maximum amoum a lender for a federally •. .. : _
<br /> , • related mortgage loan may require for Borrower's escrow account under the federal Real Estate Settlement Pracedures Act of —
<br /> °,-.4 1974 as amended from time to time, i2 U.S.C.Secaon 2601 et seq.("RESPA").vnless another law that appli�to the Funds •
<br /> � sets a lesser amount. If so. l.ender may, at any time. colleci and hold Funds ia an amount not to exceed the lesser arr►ount. `� f
<br /> _ , . .:..h �.
<br /> Lender may estimate the amount of Funds dae on the basis of current data and reasonable estimates of expenditures of firtare �-_�
<br /> --,-----'�':,�:�,. Escrow Items or otherwise in accordance with aPPlicable law. ` ,Y`�����--
<br /> "'��� 'fhe Funds sS�all be held in an institution whose deposiu are insured by a federal agency, insuumentality, or entity ;• �,�--
<br /> �' ��..:.�:1�--
<br /> � �;�..:: (inciuding Lender.if I.ender is such an institution)or in any Federal Home Loan Bank.Lettder shaA apply the Funds to pay the : .iY „�v_
<br /> Escrow Items.Lender may not charge Borrower for holding and applying the Funds,annually analyzing the escrow accaunt,or • , R�o..,�
<br /> - ,. - - - verifying the Escrow Items,�ntess I.ender Pays Borrower interest on the Funds and applicable 1aw permits Lender to make such -�- � _
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<br /> � , a charge. However.Lender may require Borrower to pay a onc-time cGarge for an independent real estate taa reporting service __
<br /> � used by I.ender in connection with this 1oan. untess applicable law provides otherwise. Unless an agreement is made or - r.,��
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<br /> � � � applicabte law requires interest to 6e paid,lxnder shall not be required to pay Borrower any interest or eaznings on the Funds. ''� s�=
<br /> � � - --� Borrower and Lender may agree in wriang,however, that interest shall be paid on ihe Fnnds.Lender shall give to Borra�zer, • -. __
<br /> _ �'.�; without chazge.an aanual accounring of the Funds,showing cre+�-t�s and debits to the Funds and the purpose for whicra� �'�`_� .`-_��,
<br /> ' . .' : �f debit to the Funds was made.The�unds are pledged as additional secariry for all swns secured by tAis Security Instrume�t. ,.:�:�.:•• . ��
<br /> — -_ - _ If the Funds held by i.ender exceed the amovnts permitted to be hetd by ap�?icabte law.l.ender shall acmunt to BatroRer _ �_
<br /> � for the excess Funds in accoidance with the requirements of appticabie law.If�-.�ainount of the Funds held by Lender ai any �.
<br /> ; .��
<br />- . ' �� dme is not sufficient to pay the Escrow Items when due,Lender may so notify Borrower in writing.and,in such case Borrower �`� _- _
<br /> . � • �' , shafl pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than . ��+=--
<br /> .�.. , . � _
<br /> • twelve monthly payments.at Lendu's sole discretion. - _ _
<br /> °.. Upon payment in full oP all sums secured by this Security Instniment. L�?der shall prompdy refund to Bonower any � _
<br /> � ' Funds held by Lender.If, under paragraph 21,Lender shall acquire or sell the Fr�perry.Lender.psiar to the acquisiuon or sale _
<br /> .�.` � • of the Property,sha11 apply any Funds held by Lender at tAe time of acyuisition or sale as a credit against the sums secured by . , __--
<br />- . • this Security Instrument. _��.�-..-
<br /> � 3.Appltcation of Payments.Unless applicable taw provides at..."erwise.all payments reccived by I.ender under paragraphs •. __
<br /> � • 1 and 2 shall be applied:frst,to any prepayment charges duc under the Note;secoud,to amounts payable under pazagraph 2; ��_•,
<br /> ` •�. ' , third.to interest due:fomth.to principal due;and I�t to any late charges due under the Note. �'• ��. .
<br /> � ' A.Charges;Lieas.�orrower shalt pay aU taxes.assessments.charges. fines and impositions attributable to the Property ,_
<br /> � � �� which may attain priority aver this S�:rity Instrument. and leasehold puymenu or graund rents,if any. Borrower shall pay „ ,_,_�,
<br /> .i � �� � these obligations in the manner provided in paragraph 2.or if not paid in that manner.Borrower shall pay them on time directly • :'�.�,�:
<br /> to the person owed payment.Borrower shall promptly fumish to Lender all notices of amounts to be paid under this paragraph. • . -y , _
<br /> �r•:- If Borrower makes these payments direttly.Borrower shall promptly fumish ta Lender receipts evidencing the payments. .
<br /> ;+�,' � ' Borrower shall promptly discharge any lien which has priority over this Security Instrument untess Borrower:(a)agrees in , • ..
<br /> writing to the payment af the obligation secured by the Iien in a manntr acceptable to Lender.(b)contests in good faith the lien . .. .
<br /> .��, by, ar defends against enforcement of the lien in. Iegal proceedings which in the L.ender's apinion operate to prevent the :
<br /> • . ' enforcement of the lien:or(c)secures from the hotder of the lien an agreement sutisfactory to Lender subordinating the lien to •
<br /> • this Security Instrument. If Lender determines that any part af the Propeny is subject to a lien which may attain priority over : .
<br />_ . , � this Security lnstrument. Lender may givc Borrower a noticc idcntifying thc licn. Borrower shall satisfy thc lien or take one or
<br /> more of the actions set farth above within lU days of the giving of notice. . �
<br /> • Form 3028 9/90 �
<br />. • '� P090 2 0l 0 � ..
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