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<br /> t TOGETHHR V►'ITH all thc improvements now ar hercafter erected on the pmperty,und all•cuseTff�r(ts;'�����c�t,and `
<br /> fixtures now or hercuftcr u purt of the property. All replacements and uddi�ions shull al,o bc covcrcd by this Securiry ���:
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<br /> , , � Instrumenc. All cif the foregoing is rcfencd ta in this Security Instrument as the "Prc�perty." :�;�
<br /> BORROWER COVENANTS thar 9ottower is lawfully seised of the estatc hcreby cnnve,ycd und hns the right tu grunt und
<br /> eonvey the Property and that the Property is unencumbered,exrept fur cncun�runcey uf recurd. I3urruwcr warrunts and will ,�,
<br /> '��'� defend gencrally the title to the Property against all cluims and demunds, subject tn any encumbrances of record. �
<br /> THIS SECURITY INSTRUMENT combines uniform cavenants for national use und non-uniform covenunts with limited ,�;
<br />- ;,�,„„� variutions by jurisdiction to constitute a uniform security instrument covering real property. -
<br /> UNIFORM COVENANTS. Barrower and i.ender cavenunt and ugrec as fallows: •-
<br /> 1. Payment of Principal and Interest; Prepayment and Late Charg�s. Borrower shall promptly pay when due the -
<br /> principal of and intcrest on the debt evidenced by the Note and any prepaymcnt mid lute charges due undcr thc Natc. ;--
<br /> � 2. Funds far Taxes and InsurAnce. Subject ta applicnblc law or to a writtcn waiver by Lender. Borrower shall pay to j
<br /> L,ender on thc day monthly payments arc duc undcr the Note,until the Note is paid in full,a sum("Ft,nds")for:(a)yearly taxes �-
<br />- �`• and assessments which may attuin priority ovcr this Security Instrument as a lien on the Propcny; (b)yearly leasehold payments =
<br /> or ground rents on the Property, if uny;(c)yearly hazard or praperty insumnc�prerniun�s;(d)yearly flood insurance premiums, -
<br /> � if any; (e)yearly moctgage insurance premiums, if uny; und(� any sums payable by Borrnwer to Lender, in accardance with
<br /> the provisians of paragraph 8,in lieu of the pavment of mortgage insurance premiums. These items ure culled "Escrow Items." �
<br /> Lender may, ut any time, collect and hold Funds in an :,�no� it not t, exce�d he naximu*� amount a lender for a fcderally �
<br />- �; related mongage loan may require for Borrower's escrow Acmunt undcr the fedcral heal Etiiutc Sctdcment Procedures Act af ;'
<br /> 1974 as amended from time to timc. 12 U.S.C. Section 2601 et seq. ("RESPA'), unlcss unathcr luw thut upplics to thc Funds
<br /> • .. sets a lesser umount. If so, [.ender may, m any time, collect und holJ Funds in :�n umount nt�t to exceed the Iesser amount. '
<br /> I..cndcr may cstimutc thc nmount of Funds duc on thc Nasis of currcnt dutn unJ rcu+unabic cstinuitcs of cxpcnditurc+af futurc
<br /> Escrow Items nr oth�rwisc in uccordancc with uppliritblc luw.
<br /> Thc Funds rhull bc hcld in un intitituticm whutic dcpusits urc insurcd by u frdcral agcncy, in.trumcntulity, ��r cnti�y
<br /> (including L.cndcr,if I.cndcr i�,uch un institutianl ar in uny Fcdcrul Hi�mc L,i�un Bank. l.cndcr tihull Upply thc Ftmds to p;iy thc
<br />- �scrc�w itcros. l.cndcr muy not rhargc Borrowcr for holding and applying thc F'und�,unnuully unulyxing thr c+cruw uccuunt,or
<br /> - , vcrifying thc Eticrow Itemti,unletis I.cndcr pays Borrowcr intcrest nn the Funds und applirahlc luw permitti I.�ndcr to mukc such
<br /> ii churgc. Howcvcr. Lendcr may rcquirc Borrowcr to pay a onc-timc churgc f'oran indepcndcnt rcal cstatc tux rc�urting scrvicc
<br /> ` used by I.cndcr in conncction with this loun, unless upplicuble luw providcs otherwise. Unlesti un agreemcne is madc ar
<br />� upplicuble luw requires interest to bc p�iJ, I.cndcr shall not bc requirecl to puy Borrawcr any interest or earnings an thc Funds.
<br /> _ � BoROwcr and Lender may ugrce in writinb, however, that interest shall be paid on the Funds. Lendcr shall givc to Borrower,
<br />�.. . .` without churge, an annual accounting of the Funds, showing credits and debiGc to the Funds and the purpose for which each '
<br />- debit to the Funds wAS made.The Funds are pledged as additional security for all sums seeured by this Securlty Instrument.
<br />- ' 1f the Funds held by Lender exceed thc umounts permitted to be held by applicable law,C.ender shall account to Borrower
<br />-• � � for the excess Funds in accordance with the requirements of applicable la�v. If the amount of the Funds held by Ixnder at any
<br /> • • time is not sufficient to pay thc Escrow Items when due, L.ender may so notify Borrower in writing, and, in such case Borrower
<br />°' ,. shall pay to Lender the amount necessary to make up the deficiency. Borcower�hall make up the deficiency in no more than
<br /> twelve monthly paymcnts,at Lender's sole discretion.
<br />-' Upon payment in full of all sums secureci by this Security Instrument, Lcndcr shall promptly rcfund to Banower any
<br />;��' ' .. .�. � Funds held by Lender.If, under puragraph 21, Lender shall acquirc or scll thc Property,Lender,prior to the acquisition or sale
<br /> • • • �,� of the Property, shall apply any Funds held by L.ender at the time of acquisitian or sale us a creciit against the sums secured by
<br /> ' "' � � this Security Instrument.
<br /> - . 3.Application of Puyments.Unless upplicablc luw provides othcrwisc, all paymcnts received by L.endcr undcr parugraphs
<br /> � 1 and 2 shall be npplicd: first, ta any prepuyment churgcs due under the Notc;sccond, to amounts paynble undcr parngraph 2;
<br /> third,to interest duc:fourth,to principal due;und last,ta any tate charges due_under the Note. —
<br />"' , 4. �harg�; Ltens. Borrower shall pay all taxes, assessments, churgcs, fines and impositions attributable to the Property -
<br /> which may attain priority ovcr thiti Security Instrumcnt, and lcaschold paymcnls or ground rents, if any. Borrowcr shall pay
<br />`''P� `. these obligations in the manner provided in paragraph 2,ar if not pnid in that rnanncr, Borrower shall pay them on timc dircctly
<br /> , �� to the person uwed payment.Borrower tihall promptly furnish to Lcnder all notices of ainounts to be paid undcr this paragraph. _.
<br /> • If Borrowcr makcs thcsc paymcntx direcdy,Borrower shall promptly furnish to Lcndcr reccipts evidencing thc payments.
<br />_ ' Borrower shali promptly discharge any lien which has priority over thir Saurity Instrument unles.Borrower:(a)agrces in =
<br /> writing tn thc payment of thc obligation sccured by the lien in u munner uaeptablc to L.cnder; (b)rontests in good faith thc lien �;
<br /> by, or drfcnds aguinst enforccment of'thc licn in, (cgal procecdings which in tlx L.endcr's opinion operate to prevent thc =
<br /> enforcemem of the licn; cu(c)�ecures from the holder of the lien an a�;reementsatisfactory to Lender subordinating the lien to �
<br />- this Sccurity Instrumcnt. [f'Lsndcr deterniines that any part of thc Properly is whjcrt to u licn which muy attuin priority over =
<br /> � this Sccurity Instrument, Lcndrr muy givc Borrowcr a noticc idcntil'ying thc licn. Burruwcr shall satisfy thc licn or takc onc or =
<br /> morc of thc uctinns sct fc�rth abovc within 10 dctys of thc giving of notirc. _
<br /> Form 3026 9/90
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