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<br /> TOGETHER �V1TH all the improvements now or hereafur erected on the property. and all easements. 4� . ,
<br /> . � ,
<br /> , � appurtenances.and�istures now ar hereafter a part of the property.All replacements and additions shali also be covered � •
<br /> , � �: by this Security Instrumen�All of the foregoing is referred to in this Security Instniment as the"Pc�c�perty." C� . ` �
<br /> • BORROWER COVEN�IN`TS that Borrower is lawfully seised of the es�ate hereby wnveyed and has the right to � � ' • 4� '
<br /> _ ` � grant and vonvey the Property and that the Property is unencumbered,except for encumbrances of record Borrower � t� • . •
<br /> � warrants and will defend generally the title to the Property against all claims and demands.subject to any encumbrances� - :
<br /> — — - of record � `.�
<br /> � � � T[-IIS SECURITY INSTRUMENT combines uniform covenants for nationa]use and non-uniform covenants cvith� ,
<br /> � , limited variations by jurisdiction to constitutea uniform security instrument covering reat property. � • ` .
<br /> UMFORM OOVENANTS.Bonowet and Lender covenant and agree as fottow� t � -�� �,, r� `
<br /> . ' 1.Payment of Priacipal and Interest;Prepayment and I.ate Charges.Horrower shall promptly pay when due Q � • � •
<br /> " ° t h e p r i n c i p a l o f a n d i n t e s�e s t on t h e de b t e vi d e n ce d b y t h e N o t e a n d a n y p t e p a y m e n t a n d l a t e c h a r g e s d u e u n d e r t h e N o t e. . '`'
<br /> . 2.Fonds for Tsses and Insaragce.Sublect to applicable taw or to a written waiver by Lender,Borrower s�,all � •- � '
<br /> '� pay to Lender on the day monthly payments are due uader the Note,until the Note is paid in fuA,a sum("Funds')for. ' - � , -
<br /> - . ' .� i (a)yearly tages and as�ssmenis which may attain priority over this Security Mstrument as a lien on the Property; (b) ' ' `',
<br /> ` r ; j yearly teasehold paymenis or ground rents on the Pmperty,it any;(c)pearly hazard or property insurance premiums , �t``� �, -`�__
<br /> .- : � (d)Yearly flood msurance psemiums,if any: (e)Yearly mortgage insurance premiums�if any;and(f)any sums payable , ,.- '���,�� °:
<br /> �.I . b Borrower to I,ender,in accordanca with the rovisions of h 8,in lteu af the ' ' ����"'�"
<br /> Y P P��P paYmeni of morcgage insuranoa
<br /> , , � premiums.These items are ca11e�"Fscrow Items."Lender may.at any time,cqllect and hold Funds in an amount not . • ,
<br />_ ,, ,. to esceed the maximum amount a lender for a federally related mortgage loan map require for Bonower's escrow _ ':���:�,�-_:--
<br /> �i � . accoum under the federal Real Egtate Settlement Procedures Act of 1974 as amended from time to time, 12 U.S.C. . �.�
<br /> °" Sectian 26Q1 et seq. ("RESPA").unless aaother law that applies to the Funds sets a lesser amoua�If so.Lender may, . �'�'�x
<br /> , � , at any time,collect and hold Funds in an amount not w exceed the lesser amaun�Lender may estimate the amount of ____°�, ` �'���`
<br /> .. ,� ,i:.
<br />_ _ . Funds due on the basis of ctsnent data and reasonable estimates of espenditures oi future Fscrow Items or othernise in `; .��'
<br /> • _ � accordance with applicable law. � ' • :-.�;�.:
<br /> 'i' ' • � • The Funds shall be held in an institution whose deposits are insured by a federal agency.inscrumentality,or entity . �° � :.:;F;:..;
<br /> � ' " (including Lender,if Lertder ia such an enstitution)or�n any Federal I�me Loan Bank.Lender shall apply the Funds to � �`�a;F;�.,�_
<br />- " `..�` `" = ' pay the Psccow Items.Lender may not charge Borcower for holding and applying the Funds,annually anaiyzsng the : _ ` "':-_� �-�_
<br /> escrow account,or verifying tt�e Escrow Items,unless Lender pays Borrower interest on the Funds and applicable law �s•- �=�?_�-_-
<br /> � . • permits Lender to make such a charge. However� Lender may require Horcowes to pay a one-time charge for an . �:�i:�=
<br /> • � � independent real estate tax reporting setvice used by Lender in connection with this loan,unless applicabte taw provides , ' .�.x=�..:F.::
<br /> ',� � �. ' . otherwise.Un2es�s an agreement is made or applicable law requires interest to be paid.Lender shall not be required to � ��:�-
<br /> . • • pay Borrower any interest or earninga on the Funds.Borrower and Leader may agree in writing,howevec�that intecest - , "t'��`��
<br /> , � shall be paid on the Funds.Lender shall give to Bonower.without charge.an annual accounting af the Funds,showing ' -�`�
<br /> credits and debits w tho Funds and the purpose tor which each debit to the Funds was made.The Funds are pledged as ' `."�"
<br /> � ��� additional securitq for all sums secuced by this Security Instrumen� ' '�
<br /> • If the Funds held by Lender exceed the amounts permitted to be held by applicable taw.Lender shall account to .'�ti ��
<br /> -_ � . Borrower for the eaces�Funds in accordance with the requisemenu of applicabie law.If the amount of the Funds held ' . , �_;,ti�ti�..
<br /> ,,.:;r-,,:..
<br /> � ' by Leader at any time is not sufficient to pay the Escrow Items when due,Lender may so notify�orrower in writing, . . ,r�:_;�-,
<br /> ' and,in such case Bonower shall pay to Lender the amount necessary to make up the de�ciency.Borrower shall make � ' ��;:;a-
<br /> � � ap the de�iciency in no more than twelve monthly payments.at Lender's sole discretion. • � '. �: '-i!�"-=-
<br /> . ; Upon payment in full of all sums secured by this Security Instroment,Lerider shall promptly refund to Hosrower • • - ' '�=
<br /> any Funds held by Lender. If, under paragraph 21, Lender shall acquire or sel) the Property, Lender. psior to the � ��''' �
<br /> , ' a uisition or sale of the Pro pp y y q ' '�r-`
<br /> cq perty,shall a 1 any Funds held b Lendec at the tima of ac u�sition or sale as a credit �'_��
<br /> : against the sums secured by this Security Instrument. ' � �:; ,��-'
<br /> �-: � 3.Application of Payments.Unlesg applicable law provides otherwise.aU payments received by Lender nnder --
<br /> � . paragraphs 1 and 2 ahatl be applied�rst,to any prepayment charges due under the Nota;second.to amounts payable : : .. ;�'�'::. �� •, :°'�
<br /> . ' ' under paragraph 2;third,to interest due;fourth,to pnncipal due;and last,to any late charges due under tha Note. "' • '
<br /> 4. Charges; Liens. Bosrower shall pay all taxes.a�essments,charges,fines and impositions attributable w the _ .
<br /> ., Property which may attain priority over this Security Instrument,and teasehold payments or gound renta, if any. " ' -
<br /> . Borrower shall pay these obligations in the manner provided in garagraph 2,or if not paid in that manner,Bonower � • ,; ' .
<br /> . : shall pay them on time directly to the person owed payment.Borrower shall promptly furnish to Lender all notices of - •
<br /> • . • • amounts to be paid under this paragraph.!f Borrower makes these paymenta directly,Botrower sha11 promptly fumish . � . : '
<br /> : s to Lender receipts evidencing the paymenta. . ", � '.
<br /> � ' ' Borrower shall promptly discharge any lien which has priority over this Security Insttument unless Borrower. (a) �, � .� ';'�;;;, '
<br /> ' • agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender:(b)contests in • � • • • •
<br /> . � good faith the lien by,or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion ' �
<br /> .,,. �� � opetate to prevent the enforcemet�t of the lien;or (c)secures from the holder of the lien an agreement satisfactory to
<br /> . Lender subordinating the lien to this Security Instrument.If Lender determines that any part of the Propetty is subject ,
<br /> � to a lien which may attain priority over this Security Instrument.Lender may give Borrower a notice identifying the • ' '
<br /> , � • lien. Borrower shall satisPy the lien or take ona or more of the actions set forth above within 10 days of the giving of ,
<br /> '� notice. . ' •
<br /> . � .
<br /> � � �AA!WWW�AA� Form 9028 9/90 �
<br /> _ . _ _ � ��sR��19212101 Oap�2 of B _ �,_
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