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<br /> TOGETHER WITH all thc improvemenis now on c�rcaftcr crccted on thc praperty, and s�ll cascmc app
<br /> C�xtuces now an c�rcuftcr a part of thc praperty.All rcplacemcnts and addiuons shall ulso bc cavcred by this Security InstrumcnG ,_
<br /> All of the foregotng is rcfcrred to in this 5ecurity Insuumcnt as thc"Property."
<br /> BORRQWER COVENANTS that Borrowcr is lawfully seiscd af the cstatc liereby convcycd and has thc rignt to grnnt and . -
<br /> ' convey the Property and that the Property is unencumbered, except for encumbrances af record. Borrawer warran4g and will _
<br /> ' defend generally ihe title to the Property ageinst al!clalms and demands,subject to any encumbrances af record,
<br /> THIS SECURITY INSTRUMENT combines uniform cnvenanu for naponal use and non•unifonn covenants with limited
<br /> variadons by jurisdiction to conslitutc a uniform sccurity insuumcnt covcring real property. � __
<br /> UNIFURM COV fiNANTS.Borrowcr and L.ender covcnant and agrcc as foliows: ,-�;3_ r��
<br /> a when due the �;:._---
<br /> � 1.Payment ot Princtpal and Interest;Prepayment and Late Charges. Borrowcr shall prompdy p y _
<br /> principal of and interest on thc debt evidcnccd by thc NoG:and any prepayment and late charges due undcr thc Notc. ::?-�
<br /> 2.Fuads for Taxes and Insurance. Subjcct to applicablc law or to a written waiver by L.endcr,Borrower shall pay co
<br /> Lender on the day monthly payments are due undcr the Note,unpl the Note is paid in full,a sum("Funds")for: (a)yearly taxes •� ,' `s`:-
<br /> and assessmcnts which may attain priority ovcr this Security Insuument as a licn on thc Properry;(b)Yearly Icaschold paymcnts i;�-�
<br /> or ground rents on the Property,if any;(c)yearly ha�ard or property insurancc prcmiums; (d)yearly flood insurancc prcmiums,if
<br /> any;(e)yearly mortgage insuranee premiums. if any;and(�any sums payable by Bonower to Lender,in accordance wich t1�e
<br /> provisions of paragraph 8, in lieu of the payment of mortgage insurance premiums.These items are called "Escrow Items." '
<br /> Lender may,at any time,collect and hold Funds in an amount not to exceect the maximum amount a lender for a fetlerally related , �� ��
<br /> mortgage loan may require for Borrower's escrow account under the federal Real Fstate Settlement Procedures Act of 1974 as .•-.����5'
<br /> amended from time to timc,12 U.S.C.Secuon 2601 et seq. ("RESPA"),unless anothcr Iaw that applies to thc Funds sets a lesser
<br /> ' amounG If so, Lender may, at any time,collect and hold Funds in an amount not to exceed the Iesser amoun� L.ender may .
<br /> � � estimate lhe amount of Funds due on the basis of current data and reasonable esumates of expenditures of future Fscrow Items or '_' �,�
<br /> ' otherwise in accordanee with applicable law. `�•'•.�
<br /> The Funds shall be heId in an insdtution whose deposits arc insured by a federal agcncy,instrumentality,or entiry(including •� -.,.:: t -
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<br /> �f L.ender,if Lender is such an ins6wtion) or in any Federal Home Loan Benk.Lender shall apply the Funds to pay the Escrow �� T.,. .��,<
<br /> Items.Lender may not charge Borrower for holding and applying the Funds,annually analy�Ing the escrow account,or vedfyjng � � . , ��;`
<br /> the Escrow Items,unless L.ender pays Boaower interest on�he Fund.i and nppllcabta law permi�;I.erdet to m�C su!'h 2 r��ra�: •
<br /> Howevcr,Lender may requue Bonower w pay a one•pme charge for an independent real estate iax reporting scrvice used by '�'�'�:
<br /> L.cndcr in connccdan with this loan,unless applicable law provides othcrwisc.Unlcss an agrccment Is madc or applicable law �� '_�4 L
<br /> rcquires intcrest to t�e paid,Lcnder shall not be requircd to pay Borrower any intcrest or earnings on the Funds.Borrower and �,,;�
<br /> I.cndcr may agrce in wridng,howevcr,that interast shall be paid on the Funds.Lcnder shall givc to Borrower,without charge,an �•� �*,-
<br /> annual accounting ot the Funds,showing credits and debits to the Funds and the purpose for which each debit to Ihe Funds was ���L
<br /> . madc.'Ihc Funds arc plcdgcd as addidonal securiry tor all sums sccurcd by this Sccuriry Instrument. "���
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<br /> If the Funds held by L.ender exceed the iunounts permitted to be held by appli�:ablc law,I.ender shaU account to Borrower for
<br /> the excess Funds in accordnnce with the requirements of appltcable law.If the amount of the Funds held by Lender at any dme!s f�
<br /> � not sufficicnt to pay thc Escrow Itcros when duc,Lcndcr may so nodfy Borrowcr in writing,end,in such casc Boaowcr shall pay �_�
<br /> , to Lender the amount necessary co make up ihe deficiency. Boaower shall make up the deficiency in no more than twelve a��
<br /> : monthly paymenis,at Lcndcr's solc discrcuon. Y-=---
<br /> Upon payment in full of all sums sccured by this Security Insirument,Lendcr shall prompdy refund to Borrower any Funds _ —
<br /> hcld by Lcndcr.If, under paragraph 21.Lender shall acquirc or sell thc Property,Lcndcr,prior to the acquisiuon or salc of the
<br /> � property,shall apply any Funds held by Lender at the umc of acquisition or sale as a credit against the sums sccurcd by this — _--
<br /> Security Instrument. . — --
<br /> � 3.Appllcetion af Payments. Unless upplicable law provides otherwise,all payments received by Lender under paragraphs ,:..F�--- - --
<br /> 1 and 2 shall be applied: first, to anY Prepayment charges duc under the Note; second. to amounts payable under paragraph 2;
<br /> third,w interest due;fourth,w principal due;und last,w any late charges due under the Note. - ____
<br /> 4.Charges;Liens. Bonowcr shall pay �ll taxcs, assessmcnts,charges, �nes and imposidons attributablc to thc Property � —
<br /> which may attain priority ovcr this Sccurity Instrumcnt,and Ieasehold paymcnts or ground rents,if any.Bonower shall pay these , 3�
<br /> obligudons in thc manncr providcd in paragraph 2,or if not paid in ihat manncr,Boaowcr shall pay them on timc direcdy to the "°'�' �,��-�9r:.
<br /> person owcd paymcnt Borrower shall promptly furnish to L.cndcr all noticcs of amounts to be paid under this paragraph. I[ �;}:`�r_yr�;
<br /> Bono�vcr mal:es thcsc paymcnts direcdy,Borrowcr shall prompdy fumish to Lcndcr rcceipts evidencing thc paymcnts. � ,-�-•:�` -Y�-
<br /> Borrower shall prompdy discharge any licn which has priority over ihis Security Instrument unless Borcower: (a) agrees in •,�: .
<br /> wripng to the payment of the obligeaon secured by the lien in a manner acceptable w L.ender;(b)contests in good faith lhe lien • .:. _ ..
<br /> by, or defends against enforcement of the lien in, ]egal proceedings which in the Lender's opinion operate w prevent the
<br /> enforcement of thc lien; or(c) secures from the holder of the lien an agreement satisfactory w Lender subordinating the lien to
<br /> this Sccurity Instrumcnt. If l.cndcr dctcrmincs that any part of thc Property is subjcct to a licn which may auain priority ovcr this
<br /> Sccurity Instrument,Lcndcr may givc Borrowcr a noacc identifying the lien.Bonowcr shall satisfy thc licn or takc one or morc
<br /> af thc actions sct forth abovc within 10 days of thc giving of noGcc. ,
<br /> Form 3028 9/80
<br /> �•eii(NE)tez,z�o� Pago 2 of 8 inWain:
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