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<br /> ��� - , '`�L�`Y'�:` __
<br />. I'OGE7'HER WITH a!�che improvements now or hereafter erected on the propecty.and all rasements,appurtenances.and ; • � _, ,t�. _=—
<br /> �., ':' .,,
<br /> fiatures now• or hereafter a parc of the property. AU replacements and additions shall al�o be covered by this Secarity y., � . ,•
<br /> �_ Inunimeni. All uf the foregoing is referred to in this Secarity Instrument as the°Property•" _ _ ___ `___�
<br /> � BORROWER COVENANTS that Borroa'er is law-fuily seised of the estate hereby conveyed and has the nght to grant and =:,� �
<br /> convey the Properry and that the Property is unencumbered, except for en�vmbrancea uf record. Borro�►�er w•am�utu and will , ;, . - - r
<br /> defend generally the title to the Property against all claims and demands,subject to any encumbrances of rc�ord. ..��.-_,- �,.�
<br /> � THIS SECURIT'Y lNSTRUMENT cumbine+unifarn►covenancs for nationnl use and non-uniform covenznts with limited n +,_: ,
<br /> varia[ions by jurisdiction to constitute a uniform security instrument rm•ering re:il property. ^ ' �.
<br /> UN[FORM COVEAIANTS.Borrower and[.cnder rnvenaat anJ:�rc�a.r foUow�s: , :�;;;
<br /> _, , 1. Pasment of Principal and Interest; Prepsiyme�at ztnd I.ute i'harges. 8orrower.hall promptly pay �vh�n duc the . , : . , ��, �, --
<br /> P
<br /> _ R princips!uf and interest���the deht e�•idenrcJ hv th�Nate and an} prepayment and late rfiarge+due ur.der th�Note. _ __ - .�
<br /> 2. Funds for Tax�and Insurance. Sub��Yt to applicablc law ur ta a written waiver by Lender. Borrawer tihall pay to , -"��"
<br /> -�Tr=_�... .,—
<br /> . Lcr.der�1n thc day manthly payments are due undrr thr Note, unui the Note is paid in full,a sum 1"Fund�')for.Ia)yearly taxes }� -
<br /> � :uid a.�ce.sments which may attain prianry uver chi,S�.�urity In�trument as a lien on the Property:tb>yearly leasehold paymena ; � ��
<br /> . or graund rents on the Property.if any:(ci��early haz:srd or property insurance premiums:!d)y�'1Y�oad insurance pr�emiums, `" . .. -
<br /> if any: le) yearly mortgage in�urance premiums, if any:and (t1 any sums payabte by Borrower to Lender, in accordance with �.'�l�i°�.-==A=�,��,,,.
<br /> the provisiuns ot paragrsph 8, in lieu of the payment of mongage insurance premiums. These items are called"Escrow Ieem�." ;: � _
<br /> .'..�.���•,.
<br /> � Ixnder may. at any time, collect and hotd Funds in an a�-nount not to exceed the maximum amount a lender for a federally • : ---
<br /> �!�;... :•A�: .6�C3_
<br />` related mortgage loan may require for Borrower's eserow account under the federal Real Estate Settlement Procedures Act of . ,����A�� �
<br /> 1974 as amended from time to time. 12'U.S.C. Section 2601 et seq. ("RESPA").unless another law that applies to the Funds =,���9,;.�,�:
<br /> � . �..-- --
<br /> � sets a lesser arnount. If so. Lender may, ai any time, collect and hold Funds in an amount not to exceed the lesser amaunt. �,::�:-��_,_
<br /> I.ender may estimate the amount of Funds due on the basis of current data and reasonable esumates of expenditures of future ..����
<br />' ' Escrow Items or othernise in accordance with applicable law. _ ��.�.
<br /> ;:, , .w—
<br /> • The �unds shall be held in an institution whose deposiu are insured by a federa! agency, instrumentalitv. or entity _�'—_ "---
<br /> ' (including C�s�r,if Lender is such an institutian)or in any Fedtral Home Loan Bank. [-ender shall apply the Funds to pay the ¢ ��,?�:`rt.:�
<br /> -.-�-�..,�_-
<br /> •�.��° Escrow Itecr�.s. :.ender may not charge BorEOwer for halding and applying the Funds,annuall anal zin the esccow account,or �`���}��.�'T-= --
<br /> Y Y 8 �-�=�!4�:
<br /> �;�� verifying the'E:�crow Items,unless l.ende:pays Borrower interest on the Fun3s and applicable law permits I.ender to make such _
<br /> ."�:-♦::��..
<br /> ;; a charge. Howa�er,Lender may require Horrower to pay a one-time charge for an independent real estate tax reporting service � , «rt!�. �.�
<br /> •.;:�. _-�..
<br /> . used by Len�� in conr.e�:on with this loan, unless applicable law provides otherwise. Unless an agreanent is made or ,.,., •., .��
<br /> • applicable IaN ^�uires interest to be paid.Lender shall not be required to pay Borrower any interest or earnings on the Funds. a.,.•. . �.�•:�
<br /> Borrower and�.nder may agree in writing,however,that interest sl�all be paid on the Funds. Lender shall give to Borroaea. -+. �
<br /> without cha.�r, an annual accounting of the Funds, showing credis and debits to the Funds and the purpose for which�,:h � ��
<br /> debit to the Funds was made.The Funds are pledged as addirional serurity for all sums secured by this Security[nstrument. ' ' :i��%'' � ,
<br /> '�•` • t�..
<br /> If the Funds h�ld by Ixnder exc,eed the amounts per.mi::ed to be held by applicable law. Lender shall accuunt to Borrower �.���� ,��'. Y�•.'�
<br /> for the excess Funds in accordance with the requiremenrs nf ar��czble law. If the amount of the Funds held by Lender at any � —'•��� - �!+.
<br /> '.;;�i:. time is not sufficient to pay the Escrow Items when due.Lende��ay so notify Borrower in wriYing.and,in sUCh case Borro we r .� '.���: --
<br /> .�t�`, � ..;
<br /> shall pay to Lender the amaunt necessar}� ro make up the deticieac}. Borrower shall make up the deficienty in no more c'h,� �•:=-7 ., � --
<br /> .� twelve monthly payments.at Lender's sole discretion ._ .' ��.``._._
<br /> � Upon payment in r�ul? of aU sums secured by this Security Instrument, Lender shall promptly refund to Bonower any � k"'�**°^ � '��� `
<br /> Funds held by Lxnder.Yf.under paragraph 21. Lender shall acquire or sell the Property. Lender,prior to the acquisition or sale ,;�.`;—
<br /> ';:��' of the Propert?!.shall appl} any Funds held by Lender at the time of acquisition or sale as a c�dit'against the sums secur.:d by :,;T __ _
<br /> �� ' this Security Tnstrument. �+�
<br /> FF:��,.� ,..':
<br /> , .� 3.Appiiqt[on of Paymenls.Unless applicable law provides otherwise,all payments receaved by Lender under paragraphs ��_�,_�.y,;r:••
<br /> -�--n---•T
<br /> . 6 and 2 shall be applied: first, to any prepayment cha�g�s due und:r the Note; second, to amounts payable under paragraph 2: . -s�:
<br /> .•��� third,to in:erest due:fourth.to principa!due:and last,to any late charges due under the Note. ' `'� 1�R-�.; _�
<br /> ; �,....
<br /> ;,,�.:". 4. C�u�es;Lteos. Borrower sha!!pay all taxes,assessments,c�arges, fines and impositions attributable to the Property _ . • _
<br /> �� ..,.. ,..:..
<br /> :t?�:'�.� which may att�in priority over this Security Instn�ment, and leas21�o1d payments or ground renu. if any. Borrowet shall pay •. , ��- • . _;:,.
<br /> � these obligatiuns in the manner provided in paragrapf�2.or if not paid in that manner. Borrower shall pay them on time directly �7��; +�,' ,;,�2
<br /> • ,+, to the erson owed a ent.Borrower shall rom t1 fumish to Lender all notiozs of amounts to be paid vnder this paragrapb. �-•'%{'�%�:3����""r��•'"'
<br /> P P Ym P P Y ,•s,,�s•�l�s��,:•��"s„ � s:,�.
<br /> If Borrower makes these payments directly,Borrower shall prompdy furnish to l.ender receipts evidencing the payments. �.�.lil,!f..'.a...�••� =y -
<br /> �_
<br /> � Borrouer shall promptly discharge any lien which has priority o��er this Secvrity Instrument unless Borrower:(a)agrees in ,�, ::�t;�_..•,'�
<br /> writing to Utie payment of the obligation secured by the lien in a►e�anner acceptable to Lender; (b)contesu in good faid�the lien "�_�+.�-"5a'-'
<br /> ��a�.��:n:.. � .
<br /> �. by, or de:ends against enforcement of the lien in, legal proc�.�gs which in the Lender's opinion operate to prevent the ������.=_„Y:
<br /> enforc�ement of the lien: or(c)secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien xo " ,�
<br /> " ' this Security instrnment. If Lender determines that any part of the Property is subject to a lien which may attain priority over ���"�
<br /> this Seru;i.J Instrument. Lender may give Horrower a notice idensofying the lien.Borrower shall satisfy the lien or take one or �'�=�`-
<br /> ° more o`�.�e�rtions set forth above wittnec� 10 days of the giving of nor.ce. •- �-` " �
<br /> ���IrM/ Y .
<br /> � Form 3028 9/90 �_`'
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<br /> _ Po90 2 0l fi �sa'-��.'c—.=�r"':-
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