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<br /> � 7 :l49 .tv �_
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<br /> TOGETHER WITH all the improvemer.ts now or hereafter erected on the praperty,and all easements,appurtenances,and �,.- �T�" - -•
<br /> fiztures nnw or hereafter a part of the property. All replacemezts artd addiiion5 shall xlso be covered 8y this Security • � ,,,l� •-
<br /> � Instrument.A!!uf the foregoins is referred ro in this Security Instrument u the"Property." �_ . ' 7
<br /> BORRON/ER COVENANTS that Borrower is lativfully seised of the estate hereby com•eyed and has the right to grant and � � '�"' _
<br />" . cunvey the Property and that the Property is unencumbered,except far encumbrances uf record. Bormwer warranu and wilt . _..€ � �
<br /> defend generally the tide to tNe Property a�ainst all claims and demands, subject tu any encumbrances of record. � '. + �.::
<br /> • 7'HiS SECURITY I1�iSTRUMENf combines unifartn covenants for natinnal use and non-uniforrn cover�ants with limited —°.``�_ —
<br /> � variations by jurisdicQon to canstitute a unifortn security insttument covering real property.
<br /> :_ [JNIFORM COVENANTS.Borrower and Lender covenant and aftree as follows: ` �
<br />--� I. Payrtaeat of Princigal and interest; Prepayment an� Late Charges. Borrotver shsll prompily pay when dec the --— . -_-
<br /> • principa!of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. �
<br /> . 2. Eunds for Taxes and Insuraace. Subject to applicable law or to a written wyver by [.ender, Borro�ver shall pay to ' �
<br /> .t. - � "`- :" .:
<br /> . I.ender on the day monthly payments are due under the Note,until the Note is paid in full,a sum 1"Funds")for:(a)yearly taxes � �r;�::;�,;_..,.��_.,,�_
<br /> _ and assessments which may aitain priority aver this Security Instrument as a lien on the Property;(b)year(y teasehold payments �������`"�. �+.���;
<br /> or ground rents un the Property, if any;(c)yearly ha7ard or properry insurance premiums;(d)yearly flood insurance premiums,
<br /> .- if any: (e)yearly mortgage insurance premiums, if:u�y;and(fl any sums payable by Borrawer to Lender, in accordance witln j"`'•- ---==•-_-�
<br /> ' the provisions of paragraph 8, in lieu of the payment of mortgage insurance premiums.These items are called "Escraw Items." � �1J�'4 r'���
<br /> . • Lender may, �t any time, collect and hold Funds in an amount not to exceed the maximum amount a lender for a federally ��`������
<br /> relalyd mortgage loan cnay require for Borrower's escrow account under the federal Real Estate Settle�ent Procedures Act of �:���!r:��`` ~'-
<br /> ;::.y��., �,�,�,�.:
<br /> 19�4 as amended from time to tune. 12 U.S.C. Section 2601 et seq. ("RESPA"),unless another law that applies to the Funds '""°"'"'�'°°'-'
<br /> .r�'<.�,�.�.
<br /> sets a lesser amount. If so, Lender may. at any time, collect and hold Funds in an amount not to exceed the tesser amount. -°`%� �``k'~" `�'^_
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<br /> Lxnder may estimate the amount of Funds due on the 6asis of current data and reasonable estimates of e.�penditures�i future ��y����
<br /> � Escraw Items or othenvise in accordance wiW applirable law. �t:rr,��r�_•----�
<br />� The Funds shall be held in an institution whose de sits are insured b a federal y ty :'�`:Sr�'��� ��'��=�'�'.
<br /> P� y agency. instrumentalit , or enti �s:�.�„r�,._ ,..-.
<br /> _ (inciuding Lender,if Lender i§such an institutionl or in any Federal Home I.oan Bank.C,e.a�der shall apply the Funds to pay the � ��::�`��^���:�'
<br /> .. _ Escrow Items. L.ender ma not chaz e Borrower for hotdin artd I m the Funds, annuall anal • � ��'� ��.'.=_
<br /> Y g g �P Y� g Y YZ►�B�e escrow account,ar -�;� ;,:,
<br /> , ,:�-:�:;--
<br /> verifying the Escrow Items,unless Lender pays�onower interest on the Funds and applicable tuw permits Lender to make such , �f:, •-
<br /> a charge. However. Lender may require Borrower to pay a one-time charge for an indepeadent real estate trix reportin�service - ,� :.'�;
<br /> used by Lender in connection with this loan, unless applipble law provides otherwise. Unless an ageement is made vr ._ "'`
<br /> ' applicable law cequires interest to be paid,ixnder shall not be required to pay Borrower any interest or pmings on the Funds. �,:.. •.
<br /> �,� �.
<br /> Eorrower and Lender may agree in writing, however,that interest shall be paid on the Funds. Lender shatl give to�orrower. .. .��H..���' - •' �`' :
<br />. � without c4arge. an annual accounang of the Funds, showing credits and debits to the Funds and the purpose for whieh each �`.3�T,���.,`�'.w.
<br /> debit to the Funds was made.The Funds are pledgod as addisional security for all sums secured by this Security Instrument. � . �° 2�•�:;:;
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<br /> • If the Funds held b Lender exceed the arna�:nts ermitted to be held by applirable law.L.ender sh�i account to Borrower z . �'"'� ._
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<br /> • for the excess Funds in accordance with the requirements of applicable law. If the amount of the Funds hetd by Lender at antiy ��?;�,,. _ •_; ,-'r
<br /> ! time is aot su�cient to pay the Escrow Items whea du�,Lender may so notify Borrower in ariting,and, in such case Borrower .�, ''"�"' �`+•� _
<br /> . shall pay to Lender the amoant naxssary to make up the deficiency. Borrower shall mak� the deficien i�°t_ °
<br /> up cy in no more than �;,`;�: .
<br /> .. ,; twelve monthly payrrt�nes,at[.ender s sole discretion. 1-.,. ,a.�„• r �-.
<br /> , Upon payment in tull of all sums secwed by this Security Instrument, Lender shall pmmptly refnnd to Borrower any '�t:�_.s ,
<br /> < t:.
<br /> � Fuads held by Lend�r.�r,under ptuagraph 21,Lender shall acquire or sell the Property.Lender,prior ta the acquisi�on or sale �'�' '�''=•
<br /> of the Property. shafl apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums ssu:red by ' � • p.• ''75'�'
<br /> this Securay[nstrument. '�: ° � __ _
<br /> . ;, 3.Ap�7ica3ion�f Payments.Unless applicabte law provides otherwise,all payments received by Lender under paragraphs , ,,,'�
<br /> � �,.��- .
<br /> '� 1 and 2 shali be app�ia�: first, to any prepayment r�arges due under the Note; seoond,to amounts payab�e under paragraph 2; .:r_�.�:;���;' :.
<br /> . r� third,to interest due;fo�.rih.to principal due;ar.�➢ast,to any late charges due under the Note. ' ���+•��•�'�•=: �
<br /> • �� 4.C6a�ges;Liens. �onower shall pay all taxes,assessments,charges,fines and impositions attributable to the Property - -' _ _�
<br /> r wluch may attain prioriry over ci2is��sriry Instrument. and i�.:.:hold payments or grou�rents, if any. Borrower shall pay -- �•�• .".`
<br /> 1 these obligations in the manner proyided in paragra,gh 2,or if not paid in that manner. Borrower shall pay them on time directly .. . ..'•�_'_�
<br /> to the person owed pay�ent. Borrower shall pro.:.ptly fumish to Lender al1 notices of amounts to be paid under this patagraph. _,,,,;'�.��:
<br />, ' �� If Borrower makes these.payments directly,Borrower.shall promptly fumish to Lendcr receipts evidencing the payments. • .
<br /> Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Barrower. (a):��Pes in �^�-v�-�' �� �
<br /> , wrian�to the payment of the obligaqon secured by the lien in a manner acceptai�le to Lender;(b)contests in guod faith the lien F���;
<br /> : by, or defends against enforcement of the lien in, legal proceedings which in the L.ender's opinion operate to prevent the �� � '"'-'r
<br /> - ��'':��:�;�•�
<br /> , enforcement of the lien;or(c)secures from the holder of the lien an agreement satisfactory to Lender suL-ordinadng the lien to ''''�� '•"'�J���;•S:'=,'
<br /> q,��,�;
<br /> this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over K� �s�. ;�..•,•;�°`.4'':�
<br /> this Security Instrument. Lender may give Borrower A notice ider.tifying the lien.Borrower shall satisfy the Ilen or take one or �'`�=��"-��
<br /> , more of d�e actions set forth above v.iu'�in 10 days of the giving of notice. �'�f�°"'7°"'�"^
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<br /> ' Form 30Z8 9/90 � ,�;��
<br /> Pago 2 0}8 ��.I.t'�r
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