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<br /> 'I'OCiETHER WITH all thc improvcmcnts no�v ar hercattcr enected on thc property, and all rascments,appurtcnanccs,and _
<br /> fixuucs now on c�reaftcr a parc of thc property.All replaccmcnts and addidons shall also bc covcrcd by this Security InstrumcnG �
<br /> All of thc foresaing is rcferred to in this Sccurity Instrumcat as thc"Propcny."
<br /> BORROWF.R COVENANTS that Borrower is lawfully seised af thc estate hcrcby convcyed and has the right to grane and
<br /> convey the Property and that the PropertY �s uneneumbered,exetpt for cncumbrane:es of rec:ard. Borrower warrants and will �
<br /> ' defend gencrally thc atic ta thc Property against all claims and demands,subjcct to anY cncumbrances af record.
<br /> " THIS SECURITY INSTRUMENT cambines uniform covenants for natianal use and non-uniform covenan�� with limited - ,ti.
<br /> variations by jurisdicdon to consdtutc a uniform sccurity instrument covcring rcal properiy. _ ' �ti
<br /> UNIFORM COVENANTS.Borrower and Lcndcr covenant and agrceas follows: When due thc =
<br /> 1.Payment of Principal and Interest;Prepayment and Late Charges. Bonower shall prompdy pay _
<br /> principal of and interest on the debt evidenccd by the Note and any prcpaymcnt and late chargcs due under the Note.
<br /> Z.Funds for Taues and Insurance. Subject to applicablc law or to a wriucn waivcr by Lender, Bonowcr shall pay to �;_
<br /> Lcnder on thc day monthly payments arc due under thc Note,undl the Notc is paid in full,a sum("Fun�'1)l�easc�h d payments �
<br /> and assessmenis which may attain priority over ihis Security Instrument as a lien on the Property:(b)Y Y ,^ .
<br /> or ground rents on the Property,if any;(c)yearly hazard or property insurance premiums; (d)yearly flood insurance premiums,if ; _
<br /> any;(e) yearly mortgage insurance premiums,if any;and(�az►Y sums payable by Bonower to Lender,in accordance with the '�, .�=
<br /> provisions of paragraph 8, in lieu of the payment of mortgage insurartce premiums.These items are called "Escrow Items." , ''° `
<br /> Lender may,at any time,collect and hold Funds in an amount not w exceed the maximum amaunt a lender for a federally related -
<br /> mortgage loan may require far Bonower's escrow account under the frderal Real Estate Settlement Prc�cedures Act of 1974 as __
<br /> amended from time to time, 12 U.S.C.Secuon 2601 et seq. ("RFSPA"),unless another law Ihat appGes co che Funds sets a lesscr __
<br /> a m o u n G I f s o,I.e n d e r m a y, a t a n y time,collect and hold Funds in an amount not to exceed the lesscr amounG I.ender may -_
<br /> esWnate the amount of Funds due on the basis of current data and reasonable esdmates o f expen diuues o f f u w r e E s c r o w I t e m s o r
<br /> otherwise in accordance with applicablc law. `-�
<br /> �' The Fands shall be held in an insuwuon whose deposits are insured by a federal agency,instrumentatity,or entity(including .ti���_
<br /> Lender. if I.ender is such an institution) or in any Federal Home Loan Bank• Lender shall apply ihe Funds to paY d►e Escrow _ _ —
<br /> �� Itcros.Lender may not charge Bonower for holding and applying U►e Funds,annuaUy analyzinB the escrow account,or verifying �,r'����
<br /> the Escrow Items,unless Lender pays Borrower interast on the Funds and applicable law pertnits Lender to make such a charge. .��}�_�
<br /> = However,S..�ndcr msy requim Born'W�r�o pay a one-time charge for en indepf:ndent real estate tax reporting sen+ice used by �. � �-,—
<br /> L.ender in connecdon with this loan,unlcss applicable law provides aherwise. Unless an agrcement is muciG ut eppiicatslc law �3��'�,1._
<br /> requires intcrest W be Paid•L.ender shall not be required to paY Borrower any incerest or earnings on the Funds.Borrowcr and ��a._
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<br /> I.endcr may agrce in writing,however,that intcrest shall be paid on the Funds.Lender shaU give to Boaower,without charge,an n__
<br /> annual accounting of the Funds,showing credits and debits to the Funds and the pwpose for which each debit to the Funds was •�.�;._
<br /> made.'Ihe Funds are pledgeti as addiuu�al securiry for all sums secured by this S�b c law Lender shall account to Borrower for �I ,�n
<br /> If thc Funds held by Lcnder exc,ced the amaunts permiued to be hcld by app ;_;_
<br /> ` the excess Funds in accordancc with the requirements of applicable law.If the amount of tlie Funds hcld by Lender at any cime is ;'�
<br /> � not sufficient w pay the Escrow I� wahkcntdu��deficiency S Borrofw gs hall make up t1�e defic cy in n Bmo cWthan twelve _
<br /> +� ' co Lender the amount necessary P _ -
<br /> monthty payments,at L.cndcr's solc discredon. refund ta Borrower any Funds = ---
<br /> Upon payment in full of aU sums sctured by this Security Instrument,Lendcr shall prompdy `
<br /> .. hcld by Lcnder. If,under paragraph 21,Lendcr shall acquirc or sell ihe Property,Lcndcr,prior to the acquisidon or sale of the Y
<br /> . Property,shaU apply any Funds he]d by L.ender at the time of acquisition or sale as a credit against the sums securcd by ehis r.°- _
<br /> Security Instrumen� mentsreccived b Lender undcr aragi�aphs `T-==
<br /> ' 3.Applicetion of Payments. Unless applicable law provides otherwise,a11 PaY Y p • �+•:��__
<br /> �- 1 and 2 shall be applied: Cust,to any prepayment charges due under the Note;second. w amounts payable under paragraph 2; _
<br /> � third,tu interest due;founh,to principal due;and last,to any late ct�ar8a due under the Nate. - `�___
<br /> 4.ChargES;Liens. Borro�vcr shall pay all taxcs, assessmcnts. charges, C�nes and impositions attributable to the Property
<br /> vihich may anain priority over this Security Instrument,and lcasehold payments or ground rents,if eny.Borrower shall pay these _�_
<br /> obligadons in the manner pmvidcd in paragraph 2,or if not paid in that manner,Borrowcr shall pay them on time dimcclY to the '` :�-
<br /> person owed paymenG Borrowcr shall prompdy fumish w Lender ell notices of amounts to bc paid under this paragraph. If � ;�
<br /> Borrowcr makcs chcse payments d'uecdy,Sorrowcr shall promptly furnish to Lcndcr reseip�s evidencing ihe paymcnts. � ��;, '-�
<br /> Borrowcr shall prompdy dischargc any licn which has prionty over this Securiry Instrument unless Borrowcr: (n)agrees in � •F�-. � : �" :,�`
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<br /> wridng to the payment of the obligauon secured by the lien in a manner acceptable to Lcnder;(b)contests in good faith the lien ' s�tt. '
<br /> by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the ,�.�; ,
<br /> enforcement of the lien; or(c) secures from the holder of the lien an agreement satisfacwry co 1-ender subcrdinating the lien to � .y
<br /> this Security lnstrument. Ii Lcnder dctermine�that any part of thc Property is subjcct to a lien which may attain priority ovcr this •�
<br /> Securiry Instrument,Lender may give Borrower a notice identifying the 1ien.Bon•ower shall satisfy thc lien or take one or more
<br /> of lhe aclions set forth above within 10 days of the giving of noGce. Form 3028 9�90 i
<br /> Pays2of 8 Initlal6:
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