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<br /> . 98— �td►1•z�;� F—
<br /> 'COdETHER WITH all thc improvemcnts now on c�rcaftcr crectcd on thc property,and ap casements,appurtenanccs,and :
<br /> fixtures now on c�rcaftcr a part of thc property,All rcplacemen4s and additiuns shall also bc covcrcd by tJtis Security Instrument� �i.
<br /> AA of thc forcgoing is rcfcrrcd to in thu Sccurity lnstnuncnt as thc'Propeny." •
<br /> BORROWER COVENANTS Ihat Borrowcr is lawfully scised of U►c cstatc hcrcby convcycd and has thc right to grent and
<br /> convey thc Property and ihut thc Properry !s uncncumbcrcd, except far cncumbrances of record. Borrowcr warrants and will '�
<br /> defend generally the tide to the Property against sil claims and demands,subject w any encumbrances of record.
<br /> THIS SECURI'ZY INSTRUMENT combines uniform covcnants far nauonal use and non-uniform cavenants with limited � "`
<br /> variations by jurisdfction to constitute a uniform securiry inswment covering real propeRy. �� .
<br /> UNIFARM COVENANI'S.Borrower and Lendcr covenant and agrcc as follows: �� ,•�`"• '.'
<br /> 1.Pa ent of Princi al and Interesti Pre ayment aad Late ChAr es. Borrowcr shall rom d a when due thc i•"'''���'�
<br /> 3'm P p f� P P Y P Y t'�i.. �.�.
<br /> principal of and interest on the debt evldenced by the Note and any prepayment and late charges due under the hote. ' ' � '�
<br /> ! 2.Fuads for Taxes and InsurAnce. Subjcct to applicablc law or to a writicn waiver by Lendcr, Borrower shall pay to �,r+.-
<br /> Lendcr on the day m�nthly paymcn�s are duc under thc Notc,unW the Note is paid in full,a sum("Funds")for:(a)yearly taxes ' `" �'
<br /> and assessments which may ausin priority over this Securlry Instrument as a lien on the Property;(b)yearly lcasehold payments ' '• ��
<br /> or ground rents on the Property,if any;(c)yearly hazard or ptoperty insurance premiums;(d)yearly flood insurance premiums,if
<br /> � any; (e)yearly mortgage insurance premiums,if any;and(�eny sums payable by�orrower to Lender, in accordance with thc
<br /> provisions of paragraph 8, in lieu of the payment of mart�age i�suranee premiums. These items ace called"Escrow Items."
<br /> Lender may,at any time,collect and hold Funds in an amount not to exceed the maximum amount a lender for a federally related
<br /> mortgage loan may reyuae for Borrower's escrow account under the federal Real Estate Seulement Procedures Act of 1974 as . _
<br /> amendcd from dme to dme,12 U.S.C.Section 2b01 et seq. ("RESPA"),untess another law that applies w the Funds sets a lesscr
<br /> amounG If so, I.ender may,at any time,coUcct and hold Funds in an amount not to exceed the lesser amount Lender may
<br /> estimate the amount of Funds due on the basis of current data and reasonable esumates af expenditures of future Escrow Items or '• __
<br /> �� othcrwise in accordancc with applicablc lew. �;�-
<br /> � The Funds shaU be held in an instiwuon whose deposits are insured by a federal agency,instrumentality,or endry(including ;; ••a�—
<br /> Lender,if I.ender is such an institution)or in any Federal Home Loan Bank.Lender shall apply the Funds to pay the Escrow ,��'• �--
<br /> 4 Items.Lender may not charge Borrower for holding and applying the Funds,annually analyzing the escrow account,or verifying . �_�r( -
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<br /> Ihc Escrow Items,unless Lcnder pays Borrowcr intcrest on thc Funds and applicable law permits Lender to make such a charge. s' ---
<br /> However,Lender may require Borrawer to pay a onc-timc chargc far an indepcndent rcal estate tax repor6ng servlce used by �`°
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<br /> Lcnder in connection with this loan,unless applicable law provides othcrwisa Unicss an agreement is made or appllcable law ;.":�f�
<br /> � requires interest to be paid,Lender shall not be requircd to pay Borrower any interest or earnings on the Funds. Borrower and
<br /> Lendcr may agree in writing,howevcr,that inlerest shall bc paid on ihe Funds.Lender shell give to Borrower,without charge,an :��_,
<br /> � annual accounUng of the Funds,showing credits and debits to the Funds and the puipose for which each dcbit to the Funds was 't�, �:;
<br /> I made.The Funds are pledged as addiuonal security for all sums sc:cured by this Security JnsnvmenG �:-
<br /> � If the Funds held by L.ender exceed the amounts permiued to be held by appGcable law.L.ender shall accoun[to Borrower for ' '«
<br /> � the excess Funds in accordance with the requirements of applicable law.If the amount of the Funds held by Lender at any time is �_��--
<br /> not sufficient to pay the Escrow Items when due.Lender may so notify Borrower in writing.and,in such case Borrawer shall pay �'-
<br /> to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than twelve ;fia�
<br /> ' monthly payments,at Lender's sole discrclion. ___
<br /> Upon payment in full of all sums secured by this Security Instrument,Lcndcr shall prompdy refund to Borrower any Funds -�--•
<br /> held by L.endcr.If,under paragraph 21,Lender shall acquire or scll thc Property, Lcnder,prior to thc a.cquisidon or sale of the °
<br /> Property, shall apply any Funds hcld by L.cndcr at ihe timc of acquisidon or sale as a crcdit against thc sums sc;curcd by this -- -- -
<br />_ Securiry Instrument `"�'�"�__
<br /> 3.Application of Payments. Unlcss applicablc law provides otherwise.all payments rcccived by L.cnder undcr paragraphs ..'�,�;,�--
<br />• 1 and 2 shaU be applied: Cust, w any prcpayment charges due under thc Notc;second,to amounts payablc under paragraph 2; --_= - -
<br />- third,to intcrest duc;fourth,to principal due:and last,to any late char�cs due undcr thc Notc. __----- —
<br />- � 4.Charges;Liens. Borrower shall pay all taxes, asscssments. charges, fincs and impositions attributablc to ihe Property 1~� j��
<br /> � w hic h may auain priority over this Sccurity Instrumcnt,an d lease ho l d payments or groun d rents,i f any.Borrower s h a ll pay t hcsc ��,•,
<br /> • ,...,i.:.,�'•:
<br />_ � obligations in the manner provided in paragraph 2,or if not paid in that manncr,Borrowcr shall pay them on timc directly tu the ��• r.,••�vr
<br /> rson owcd a mcnt. Borrower shall rorn d furnish to Lcndcr ali noticcs of amounts to be aid under this ara h If ���`�"`; �� ^`���
<br /> P� P Y P P Y P P 6'�P • ..
<br /> i Borrowcr makcs these paymcnts directly,Horrowcr shall prompdy furnish to Lender re�eipts evidencing the paymenis. �,�
<br /> Borrower shall promptly discharge any lien which has prioriry ovcr this Sccurity Instrument unless Borrower:(u) agrees in
<br /> I wridnB to the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)contests in good faith the lien " .. `•.��' .
<br />_ � by, or defends a�ainst enforcement of the lien in, legal proceedings which in the Lcnder's opinion operate to prevent the
<br />-. enforcement of the lien;or(c) secures from ihe holder af the lien un agreement sapsfactory to Lender subordinating the lien to
<br />_ this Security?nstrument.If Lender determines ihat any part of ihe Property is subject to a lien which may attain priority over this !
<br /> � Sccurity Insirumcnt,Lcndcr may givc Borrowcr a notice idcntifying thc licn. Borrowcr shall satisfy the licn or takc one or more
<br /> �� of the acdons set forth above within 10 days of U�e giving of notice. �
<br />- Form 3028 9/90
<br />— � •eR(NE)�sz+zJ o+ rngezai s inwa�s:
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