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<br /> • � TOGETHER WITH all ttte improvemeats now or heieaRer erected on the pmperty,snd al:easements.appurtenances.�d , .
<br /> , ``.. � fixtures aow or hereafter a part of the propercy. AU teplacemeats aad additions shall also be covered by this Securicy . . `
<br /> ..�•, Instnxment.A p o f t h e fo r e goin g is referred to in Wis Security lastmmeat as We"Propeccy°
<br /> � , , `� gpRRpq/ER CpVEI�iANTS that Borrower is lawfujly seised of the estate hemby conveyed aad has dte right to grant and
<br /> , ' ,:i convey the Property aad that the Property is unencumbered.oxcePt for encumbraaces of recotd. Borrower warrants an�an'j�,� �' ti; - ',
<br /> � . defend geaesally the title to the Property against a11 daiias aad demaads.subject to any eacumbrances of record. � <<';
<br /> � , _ '[9dIS SECIJRITY WSTRUMENT combines uniform covenauts for national t�se and aon-uniforu� covenaats with limited� I �, �.�;. ,.
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<br /> . ` variations by jurisdictioa to rnnstitute a uaiform sceurity instnunent covering real property. ; '
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<br /> ' UMFOR'1rf COVENANTS.Borrawer and Lesider covearwt and agtu as follows: � . °
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<br /> •-- 1. Payment of Principal and Interes�; YrePaYment and Late Charges. Borrower shall promptly pay whea due the� ';` _ --_._`.
<br /> -, _. �e^i principal of and interest on the debt evidenced By the itlote and anY P�Y�and late charges due under the Notes. - - - —=_ -
<br /> -, H y�' � 2, Fun�s for Tages and lns�uance. Subject to applica6le law or to a wriuen waiver by LEader,Borrower shall pay to�
<br /> i Lender on the day montlilY paymeats are due nnder the Note,antii the Note is paid ia full.a sum("Fuads")for:(a)yearly�es � : .-
<br /> : � � and assessments wluch may attain prioriry over[his Security Instrument as a lien on the Propercy;N)Y��Y l�ehold payments �: �:-,�_
<br /> � :. 1 c. - �
<br /> or g round rents on the Property.if aay:(o)Year1Y ha7ard or property insarance pnemiums;(�Year1Y ftoad insurance premiums, ` -.
<br /> . • ,: .� if any (e)YearlY morcBaSe insurance premiums, if any:aad(�any sums payable by Borrower to L en der. in a c c o t d a n c e w i t h .. . :
<br /> � � the provisions of paragraph S, in lieu of the payment of mortpge insurence premiums.These items are cxlled°Escrow Items.° .., .t��'.
<br /> �. � Lender may, at any time, collect and hold Funds in an amaunt not to exceed the maximum amount a lender for a fedesaUy , �z N Y�t�`._
<br /> .. ';".�: re l a t e d m o r t g a g e toan ma.y r e quire far Borrower's escrow accaunt under the federal Real Fstaie Settlement Frocedures Act of {, ::,
<br /> � ` 1974 as ameaded from time to tima, 12 LT.S.G Secriou 2601 et seq. ("RESPA°).unless another Isa+chat applies to t ha Fna d s . . 'i,t:,:,:4-._.
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<br /> ' • :'.`: seis a tesser amoua� If so, Lender may,et aay time. collect and hold Funds itt an amount not w exceed the lesser amount. —
<br /> � ' . L,ender may estimate the amount of Funds due on the basis of curtent data and reasonable estimates of expendih�re.s of Potwe �i a
<br /> � Fscrow items nr othera+ise in accordnnce with applicabie law. , p "�"-
<br /> • 'Ig►e Funds shall be hetd in an institation whose deposits are insured by a federal ageacy, instrumentality, or antity r'�`_
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<br /> . . � ('mctud'mg Lender,if Le�der.is such an institurion)or in aay Federal Home Loan Bank.Lender shaU apply the Funds w pay the : , • . ;�;�_'=�,
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<br /> Escrow Items.Lender may not charge Botrowec for holdiag and applying the Funds,aunually analS�ng the escrow aceount,or _ - �}�R_,
<br /> , _ verifying the Fscrow Items,unless I.ender pays Borrawer interest ofl the Funds and applicable law permits L.ender to maice such �F.
<br /> „ 4.'. '•�' a charge.However, Lender may require Borrower W pay a on�rime charge for an independent real estate tax repnsriag service ' � �'-:-.
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<br /> :. �: used hy Lender in connection with �his loan, unle� aPPk�le law provides otherwise. Unless an agreement is made or . �:,. :�_,
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<br /> _ .,-,.; j appficable law requires interest to be paid, Lendes shall aot be sequised to pay Borrower any interest or eamings on the Ftmds. ., �.:�_.
<br /> � � Bonower aad I.ender may agree in writing,hoaever,thai interest shall be paid on the Funds. Lender shall give to Borrower, ';.�_
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<br /> . �vithout charge. an ann+ial accounting of the Funds, showing credits and debits to the Funds and the purpose fot.wttich each • c<-a�.�,,
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<br /> de6it to tha Funds was made.The Funds are pladged as additional security for all sums secured by Uus Security lnstrume�t• ��:�,;,,;�'� •
<br /> � -. if the Funds held by Lender exceed the amounts permitte�w be hald by applicable law,Lender shall account to Bunowes � � !°,�"�-,-i;
<br /> for the excess Fuads in accordance with ih6*Wu�*ements of applicable law.If the amount of the Funds held by Lmdsr at any � , -.•��„
<br /> . � • time is not sufficient to pay the Fsccow Items when due,Lendet may so norify Borrower in writing.and.in such case Rorrower _'r,�,..',1;:���;�-
<br /> � � s6a11 pay to Lender the amount necessary to make up the deficieaey. Borrower shall make up the deficiency in no more thaa � •.�,.�:F:.
<br /> • � .• twelve monthly payments,at Lender's sole discretion. ��'
<br /> - • . - Upon payment in full af all sums seeured by this Security instrument, Lender shall promptly refund w Borrower any � I �_.
<br /> • :��r� Fmids held by Lender.If,under paragraph 21,Lender shall acquire or sell the Ptoperty,Lender.prior to the acquisition or sale _ ;.,r;;,,:,.
<br /> � � � � of the Property, shall apply any Funds 6eld by Lender at the time of acquisition or sale as a credit against the sums secured bY �'.',�r�.���_
<br /> . . this Security lastrument. ,. �:. '.` ��t;,�
<br /> �: 3. Appl�eation of Payments. Unless applicable law pravides otherwise, all payments received by Lender under . ' .�F�-
<br /> . � � paragraphs 1 and 2 shall be applied: first. to any prepayment charges due under the Note;second, to amounis payable under . �=�
<br /> � paragraph 2:third,to interest due;fourth,to principal due:and tast,to any lata charges due uader the Note. �, ' `:�`:�_.�..
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<br /> � ' 4. Charges;Lienv.Bo*rower shall pay al!taxes.assessments,oharSes,f nes and impositions attributable w t6e Property �:��,
<br /> . • which may attain primity over this Securiry Instrument, and leasehold payments or ground rents, if any. Borrower shall pay . • --
<br /> � these o6ligations in the manner provided in paragraph 2.or if not paid in tbat manner,Borrower shall pay them on time dirertly
<br /> ' � to the person owed payment.Borrower shall promptly furnish to Leader all notices of amounts to be paid under tlris paragraph. .
<br /> ' If Borrower makes these payments directly.Bonower shaU promptly fumish to Lender receipts evidencing the payments. �, .
<br /> � ' Borrower shall promptly discharge any lien which has prioriry over this Security Instrument unless Borrower:(a)agrees in
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<br /> . writing to the payment of the obligation secured by the lien in a manrtet acceptable to l,ender; (b)cantests in gaod faith the lien • ..
<br /> ' . � by. or defends against enforcement of the lien in, legal proceedings which in the l.ender's opinion operate to ptevent the , ,
<br /> enforcement of the lien: or(c)secures from the holder of the lien an agreement satisfactory to Lender subardinating the lien to
<br /> � � this Securiry Instniment. If Lender determines that any part of the PropeRy is subject to a lien which may attaia prioriry over .
<br /> � this Securiry instrument, Lender may give Borrower a notice identifying tha lien. Bonower shtill satisfy the lien or take otro or ,
<br /> ' more of the actions set forth above within 10 days of the giving of notice. . .
<br /> . Form 3028 9/90 • .
<br /> • �MQCM-CM8.0283.NE 196o1f Paao 2 016 Init�a;s: '
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