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<br /> � TOOETHER WITH all thc Impravementc now on c�rcaftcr crccted on the property,and all casemzn�9,appurtcnanccs, and
<br /> � Cu�wres now or hercaftcr a part of tho properry. All replecements and uddidons shNl also txt covercd by this Security Instruumcn� �•�'�
<br /> � � All of thc forcgoing Is refcrted to In this Scc►ulty Instrumcnt as thc'Property." I •+`�•. .
<br /> � BOItROWER COVENANfC that Borrowee Is l�wfull�� sciscd af the cstatc hcreby conveyed and has ihe right to grant anc�.,,,� h,- ��
<br /> convcy the Property and that the Property is unencumbered,except for encumbrances of recurd. Borrower warrants end wil� _-
<br /> -� °''� ` defend generally the tlde to tha Properry ageInst all clalms end demands,subject to any encumbrances of recard. '-
<br /> ' � '' THIS SECURITY INSTRUMENT combines uniform covenants far national use end non-uniform covenants with limited� � '`#
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<br /> variations by Jurlsdiction to consdwtc a uniform sccurity instr�mentcovcring rcal property. �"'� •, �:-';..
<br /> UIVIFO1tM COVBNANTS.Borrower and L.ender covenant and agrce as follows: G ,�;°�
<br /> 1.Payment of Princ[pal and Interest;Prepayment and LAte Chargss. Borrowcr shall prompdy pay when due ih� �` °
<br /> princlpal of and lnterest on the debt evidenced by the Note and any prepayment and Iate charges due under the Note. -
<br /> Z.Funds for Taxes and Iasuraace. Subject to appHcable law or to a written waiver by Lender. Boaower shall pay
<br /> • Lcnder on the day monthly payments are due under thc Notc,until the Note is paid in fuU,a sum("Funds")for.(a)yearly taxe�
<br /> , and asscssments which may attain pr�orlty over this Security Instrument as a licn on the Property;(b)ycarly leasehold paymenu
<br /> or ground rents on the Property,if any;(c)yearly dazard or property insorance premituns:(d)yearly flood ins►uance premiums,if
<br /> eny; (e)yearly mortgage insurance premiums,If any;and(�uny sums payable by Borrower to I.ender.In accordance with the •
<br /> provisions of paragraph 8, in lieu of the payment of mortgage insurance premiwns. These Items are called "Escrow Items." �
<br /> Lender may,at any time,callect and hold Funds in an amount not w cxceed the maximum amount a Icnder for a federally related �,
<br /> moRgage loan may require for Borrower's escrow account undcr ihe federal Real Estate ScWement Procedures Act of 1974 as
<br /> � amended from time to qmc,12 U.S.C.Sect�on 2601 et seq. ("RESPA"),unless anothcr law that applics to the Funds sets a lesser �
<br /> amount If so, I.cndcr may,at any time, coUect and hold Funds in an amaunt not to excced the lesser amounG L.ender may
<br /> esamaUs the amount af Funds due on the bavis of cwrent data and rcasonable estimates of eapendiwres of future fiscrow Items or
<br /> �; otherwlse in accordance with applIcablc Iaw.
<br /> The Funds shall be held in an InsHtuBon whose deposits are inaured by a federal agency,insuumentality,or endty(including �
<br /> �, Lender,If Lcndcr is such an insdtudon) or in any Ftdcral Home Loan Bank. L.ender shaU apply the Funds to pay the Escrnw ��
<br /> �' - Items.Lender may not charge Boaower for holding and applying t�e Funds,annually analyzing the escrow account,or verify�nR
<br /> ' the Escrow Items,unless Lender pays Borrower interest on the Funds and epplIcable law permits I.ender to make such a charge. �.
<br /> = Howav�, Lcr�dcr�uay ccyuin; Borrower to pay a one-time charge for an independent real estate tax reportlng service used by
<br /> Lender in wnnecdon with this loan,unless appUcable law provIdes otherwise. Unless an agreement is made or appGcable law •—
<br /> rcquires intcrest w be paid,L.cnder shall not be required w pay Bo�rower any interest or eamings on the Funds.Borrowcr and .
<br /> �, Lender may agrea in writing,howevcr,that intemst stiaU be paid on the Funds.L.ender shall give to Borrower,without charge.an
<br /> -y armual accounting of the Funds,showing credits and debits to the Funds and the purpose for which each debit to the Funds was
<br /> made.'Ihe Ftu�ds ere pledged as edditional security for all sums secured by this Security InstrumenG •
<br /> Tf the Funds held by Lender exceed the amounts permiuecl to be held by appllcable Iaw,Lender shall account w Borrower for
<br /> � the excess Funds in accoMance with the requirements of eppl�cable law.If the amount of the Funds held by Lender at any tune is
<br /> . not sufficient to pay tha Escrow Items when due.Lender may so noufy Borrower in writing,and,in such case Borrower shall pay -
<br /> to Lender the �unount necessaty to make up the deficiency. Borrower shall make up the deticIency in no more than nvelve _
<br /> monthly payments,at I.ender's sc►le discredon.
<br /> Upon payment fn fuU of all sums secured by this Security Instrument,L.ender shall prompdy refund to Borrower any Funds �
<br /> . held by Lender. If,under paragraph 21,Lcnder shall acquirc or sell the Property,L.ender,prior to the acquLsitIon or sale of�hc ��
<br /> Pruperty, shall apply any Funds held by Lender at the time of acquistdon or sale as a credit against�he sums secumd by this •
<br /> Security Insirumen� -- ---
<br /> 3.Applkation ot Payments, Unless applicable law provides otherwise,all payments raceived by Lender under paragraphs '�
<br /> 1 and 2 shall be applied: flrs�to any prepayment cherges due under the Note; second,to amounts payable under paragraph 2; -`
<br />- third,w intcrost due;fourtfi,to principal due:and last,to any latc charges duc under the Note. --
<br /> i 4.Charges;Liens. Boirower shall pay aq taxes, assessments,chargcs, fines and imposidons suributabtc tu u�., ;�uE;.:;►y `._, _
<br /> jwhich rnay attain prioriry over this Security Instrumen�t,and leasehdd payments or ground rents.if any.Borrower shall pay these .
<br /> r { ob' adons in the maruicr rovidcd in 'S x;�w
<br /> 1►8 p paraEraph 2,or if not paid in that manner,Borrower shall pay them on time d'qecdy to the •„..
<br /> _ ; person owed paymenG Borrowcr shall prompdy furnish to Lender all notices of amonnts to be paid uhder Ihis�ragraph. If =—__
<br /> I Borrower makes these payments directly,Boaower shall promptly fumish to Lender receipts evidencing ihe paymcnts. --r---
<br /> � Borrower shall promptly discharge any lien which has priority over this Security Inswment unless Sorrower. (a)agra;.s in •'• -�
<br /> , writing to the payment of the obGgation secured Uy U�e lien in a manner acceptable to Lender.(b)contests in good f�ith the lien :'.''��'�
<br /> � by, or defends against cnforcement of the lien in, Icgsil proceedings which in the Lcnder's opinion operatc to prevent thc �
<br />-, ! enforcement of the lien;or(c) secures from the holder of the IIen an agreement sadsfactory to Lender subordinadng the lien to
<br /> � this Socurity Instrument.If Lender detcrmines that any part of the Property is subjtxt to a licn which may attain priority over this
<br /> i Security Instrument,Lcndcr may give Borrowcr a nodce identifying the Gen.Borrower shall satisfy thc licn or takc onc or more
<br />- i of the acpons sct forth abovc within 10 days of the giving of nodce.
<br /> � Form 3028 9/90
<br /> _ � �-8R(NE)lozi2l.o� Pape2ote �mua4:
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