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<br /> . � TOGETHEit WITH all the improvements now pr hereafter emted on ttte property,an enu.appurtenances.and �, .. ..
<br /> . �� . Eixtures now ar hereafter a part of the property• F►11 replacements and additions shaU also be oovered by this Security `' �
<br /> • � ' .�� . Insttument.Aii of the foregoing is referred to in this Security Insmunen►as the"ProPeKy•" . `. '
<br /> •� . `,` gORROWER COVENANTS that Borrower is lawfully�eised of the esYate hereby conveyed and has the rigttt to grant and � �o: <
<br /> . . ` convey the Property and that the P�operty is unencumbeied,except for encumbranas of record. Borrower warrants and will `'`',.._ .:�•:
<br /> _. •--�~'. defend generally the tide to the Property agaiiut all claims and demands,subject to any encumbrances of rewrd. k•
<br /> � �"'`"� THIS SECURITY INSTRUMENT combines uniform covenants for natioaal use and non-uniform covenanu with limited . �
<br /> . "_°=" -.- variations by jurisdiction to canstitute a uniform seairity instrumsnt covering rea)property. �, -- . ' --
<br /> • � UNIFORM COVENANTS.Borrower and Lender covenant and agree as foUows: � '�_ "��y �
<br /> . 1. Payment of Priicctp�l and In4erest; Pcepayment and Late Cha�ges. Borrower sdall promptty pay when due the � ,��` � � ;
<br /> ' • princigal of and interese on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br /> `.<<. � . ._ :�.
<br /> ` �F��;�.
<br /> � � 2. Fands for Taxes and Iasurance.Subj�t to applica6le taw or to a �vritten waiver Isy Lender. Bomower shall pay to ,. } ,
<br /> �,• ` `<<�, Lender on the day monthly payments are due under the Note,until the Note is paid in full.a sum("Funds")for.(a)yearly ta�ces � - �.,;;.
<br /> , � and assessments which may attain priority over this Se�riry Instrument as a lien on the Property:N)Y��Y��old payments �` �-_
<br /> � • ` or ground rents on the Property.if any:(c)yeady hazard or property insurance premiums:(d)Yearly flaod insurance premiwns, :._,.�,;;;'_:,
<br /> , � if any: le)yearly mortgage insurance premiums. if any:and(�any sums payable by Bomnwer to Lender,in accordance with �
<br /> ' , ``� the provisians of paragraph S, in lieu of the paym�nt of mortgage insurance premiums. These items are called"Escrow Items." �
<br /> �.,G� Lender may, at any time, collect and hold Funds in an amount not to exveed the maximum amaunt a lertder for a federalty ,�t",; •.
<br /> , �� related maRgage loan may require for Borrower's escrow account under th� federal Real Estate Settlement Procedures Act of r� `' '� _
<br /> � � `"�` 1974 as amended from dme to time. 12 U.S.C. Section 2601 et seq. ("RFSPA'), unless another law that applies to the Funds __ _
<br /> � . . ` sets a lesser amour�t. If so. Lender may,at any time, collect and hold Funds in an amount not to exceed the lesser amount. _
<br /> . � -_ L.ender may estimate the amount of Funds du�on the basis of current data and reawrsable estimates of expenditures of future .L.-o
<br /> `� - Escrow Items or otherwise in accordance with applicable law. °' a��`
<br /> . s:s-'-
<br /> ' � • ` The Funds shall be held in an institutian whose deposits are insured by a fedeca! agency, irtstrumentality. or enuty —
<br /> t`.5.': �._rv _.
<br /> � (including Lender,if Lender is such an instituuon>or in any Federal Home Loan Bank. Lender shafl apply the Funds to pay the r �°.�
<br />• . � � - Escrow Items_ Lender may not charge Borrower for holding and applying the Funds,annually analyzing the escrow account,or �;±.=-'�=Y�-
<br /> ... ,.-4_.�. . _. .a�.,,
<br /> _ , verifying the Escrow Ttems.unless Lender pays Borrower interest on the Fends and applicab2e law permits L,ender co make such _L"��
<br /> •• .�; a charge.However. Lender may require Borro�rer to pay a one-time charge far an independert real estate tax reporting service , . �- :?�:�-
<br /> - , , , ' used by Lender in wnnection wit4► this loan, unless applicahle law provides otherwise_ Unless an agreement is made or �*�,a-
<br /> ::�!'���
<br /> • . applicable law requires interest to be paid. Lender shall not be required to pay Borrotver any interest or eamings on the Funds. .. �.���
<br /> . ' � Borrower and Lender may agree in writing,hou•ever. [hat interest shall be paid on the Funds. I.ender shall give to Borrower. -;;;—�:
<br /> ' ' without charge. an annual accounting of the Funds, showing ecedits and debits to the Funds and the purpose for whieh eaeh . , �._��
<br /> ' ` debit to the Funds was made.The Funds are pledged as additional security for all sums secured by this Security Instrument. "���`��r•
<br /> �' � . If the Funds held by Lertder exceed the amounts pem�iited to be held by appliable la�v,l.ender shall acconnt to Borrower � ' r� '-`""
<br /> ,.:��`-'�
<br /> ' -' � for the excess Funds in accordance with the requirements of appiicable law. If the amount of the Funds held by Lender at any' � , - - :-
<br /> -��� • � . time is not sufficient to pay the 6scrow items when due.l.ender may so no�s€y Borrower in writiag.and,in such case Borrower ...�y_,'�;�
<br /> . sha11 pay[o Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than �, ;i��?:
<br /> . : twetve monthly payments.at Lendcr s sole discretion_ � "��- '�..
<br /> ; . Upon payment in full of aU sums secured by thiti 5ecurity Instrument.l.ender shall prompUy refund to Borrower any •- ^�._..-
<br /> � � • Funds held by Lender.if, under paragraph 21. Lender shall acquire or sell the Praperty.Lender.prior to the acquisition or sale <_ • '`��
<br /> •,�.—
<br /> , • � of the Property.shall apply any Funds held by l.ender at the time of acquisition ar sale as a credit against the sums secured by .;:,�.
<br /> � � this Security Instrument. ' � c��
<br /> � 3.Application of Payments.Unless applicabie iaw provides otherwise.atl payments received by Lender under paTagraphs •. `��
<br /> ' 1 and 2 shall be applied: first, to any pmpayment charges due under the Note;second,to amounu payable under paragraph 2; • � - .:
<br /> � ' third,ta interest due:fourth,to principal due:and last,to any late charges due und..r the'�c.�:e. . �- =��:
<br /> � � 4.Charges; Liens. Borro��er shail pay all taxes,assessments,charges. fines and impositions attributable ta tHe Properry ;=�:"
<br /> � . which may attain priority over thi.r Security Instrument,and Icasehald payments or�round rents, if airy. Borrower shall pay • .�
<br /> � the+e obligations in the manner provided in paragraph 2,os if not paid in that manner. Borrower shall pay them on time directly _
<br /> • � ta the person owed payment. Borrower shall promptly fumish to Lender all notices of ac*r�,:n�s ta be paid under this parugraph. -
<br /> � ""'' � If Borrowcr makes thcse a mentc directl .Borrower tihall rom tl fumish to Lender r�c; ts evidenci the a mcnts. �,`�'•
<br /> - , ti:. P Y Y P P Y s� �€ P Y r,
<br /> � Borrower sh•rll promptly discharge any lien whicb has priariry over this Security Instrument unless Borrower: (a)agrees in �",``' : .
<br /> . �:
<br /> � writing to the payment af'the abligation+ecured by the lien in a manner acceptable to l.ender:(b)contests in good faith the lien
<br /> by. or defendr again�t enfi�rcement of thc lien in, legal procecJing. which in the I.ender's opinion operate to prevent the . � �
<br /> � rnforrement oi the lien:ur Ic)secures from the holder of the lien an agreement satisfactery to Lender subordinating the lien to • .
<br /> � � this Security lnstrument. IP Lender determine�that any part of the Praperty is subject t�a lien which may attain priority over �_ ;,;,;'
<br /> . thiti Security Intitrument, Lender may give Barruwer u natice identiiying the lien. Borrower shall satisfy the lien or take one or : .
<br /> � � more af the actions set iorth above within 10 day+uf the giving af notice. � •
<br /> - • . Form 3028 9/90 � �
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