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<br />_' � � , • VN��V��ItY ' _. `��a'.,. ,
<br /> � TOGETHER WITH all the improvements now or hereaRer erected on the property,and all caseinenu,appuctenances,and °����:� • `�
<br /> ` , . �. .. fixtures now or hereafter a part of the pmperty. All replacements and additions shall also be covered by this Security . . . •
<br /> InstmQtent.All of the foregoing is refened to in this Security Instrument as the'Property.'
<br /> , --..c . - BORROWER COVENAI3TS that Borrower is tawfi�ily seised of the estaie hereby conveyed ancl has the righ[to grant and _ �'-`-
<br /> � `� comrey the Properry and that the Property is►,n�,+�„+*+hered, except for encumbrances of record. Borrower warrancs and will � �- ..
<br /> • , defend generally the titte to ihe Property agamst all claims and demands,subjer�.,�aFty encumbrances of tecord. �';s. ; .
<br /> _:'�•:'` TFIIS SECURY'I'Y YN51'R[Jh�IENT combines nniform wvenants for na�o�use and non-uniform covenanu with limited £��<,`�� �` �.:.`� '
<br />-��.•.�� _ .
<br /> variattons by jurisdic�og to cansti�ue a uaiform seauiry insaument covering ma?�perty. .
<br />=- ' . (JNffOR.'�1 CFDV�h.4NTS.Borrower and Lender covenant and a�as follows: . `
<br /> - - � 1. Faprac�nt o��pal aud Interest; Prepayment and I.ate C6urges. Bonower shall promptly pay when dae the � •����
<br /> ^?' ` ' • principal of and inte�st on the debt evidenced by the Note and any prepaymeat assd late charges due under the Nore. • `�'��-
<br /> � � � Z.F�mds for Tages and Insarance.Subject w applic�ble law or to a written waiver by Lender. Borro�ver shall pay ca r ^`�--.`l'_
<br /> . � • Lender on the day monthlY Fayments are due under the Note,nntil the Note is paid in full,a swn("Funds")for: (a)yearly taxes .,:'�T�
<br /> ` ` • �� '� and ass�ts which tnay attain priority over this Security Insamment as a liea on the Propeny:(b)Yearly lrasc6otd paymcnts , .. ,��'"'�'
<br /> . . or gronad reuu oa the Pmparry.if ury;(c)Yearty haxard or property insurance premiums:(d)Yeariy tlood insurance premiums. .. . —
<br /> . � ' _ � � . if atry;(e)yearty mortgage insurazicc premiums,if aay;and(fl aay sums poyable by Borrower to Lender,in accordance tivith -•
<br /> the pmvistons af pardgraph 8.in lieu of!he payment of�norigage insurance premiumq.These i[enu are callcd "Escrow Items." � - •-
<br /> • � � l.ender may. at any time, cfllle�x and hold Funds in au awor�at not c�exceed�he ma�cimum amount a lender for a federally '.��,:, �'��
<br /> � -., relazed mortgage loan may require for gorrower's esctow accoun[under the federal Real Estate Set[lement Procedures Act of --� . :-;.'�`��g.
<br /> ' ' � 1974 as amended from sime to time. 12 U.S.C. Section 2601 et seg. ("RESPA"), unless another law that applics to the Funds ' : �:�
<br /> � sets a lesser amount. If so. Leader may, si any time,collect and hold Funds ia an amount not [o exceed the lesser amount. ` ::��:w._:.
<br /> ' Lender may estlmate the amouat of Funds dae on the basis of current data and reaganable estimates of expenditures of future �'� ` ����':
<br /> � - � :.1',-_::-.��
<br /> " Fscrow Items or otherw+ise in accordance with applicable law. ... . ��+.:.�`.�,:
<br /> �, The Funds ahaU be held in an insutution whose deposits are insured by a federal agency, instrumentaliry, or entiry ::�',�+`;;
<br /> . i � -r--
<br /> . (ineludiag Lender.if Lender is such an iqstitution)or in any Federal Home Loan Bank.I.ender shall apply�he Fuads to pay�he � � ���
<br /> %� Fscrow items.Lender aeay not charge Borrower for halding and applying the Funds,aanually analyzing the esemw account,or
<br /> � " verl the Escmw Items,uatess Lender a s Bormwer inlemst oa the Funds and a licable law ermits Lender to make such "� ���`
<br /> !. .s �8 P Y PP P . �.-:�:
<br /> ' ` a charge.However,Lender may require Borrower to pay a one-time charge for an independent rral estate ta�c reporting service �__
<br /> , : � used by Lender in connection with this loan, unless applicable law provides othenvise. Unless an agreement is made or . , . ;.:`'�'`:.
<br /> .. , appllcable law require.g interest to be paid,Lender shall not be required to pay Borrawer any interest or eamings on the Funds. .���
<br /> �� Horrower and Lender may agree in writing,however.that interest shall be paid on[he Fw�ds. Lender shail give to Borrower. ' ,.;�
<br />- �-- +, ' : cvlthout charge,an annual accounting of the Funds,showing credits and debits to the Funds and the purpose for which each � —
<br /> � � . debit to the Funds was made.The Funds are pledged as additional serurity for all samg secured by this Security Instrument. � �'' •',.� ��
<br /> � lf the Funds held by Lender exceed the amounts permitted to be�etd by applicable law.C.ender shall account to Borrower , � , '�''•���
<br /> : u,..
<br /> . ' • for the ezcess Fands in ucordance with the requirements of applicabie law. Lf cLe amount of the Funds held by l.ender ac any : :"•�,:�.-
<br /> � . • time ts not sufBcient to Fy the Escrow Items when due.Lender may so noafy Eorrower in writing.and,in such case Borrower -'�'�''
<br /> • :��.
<br /> -- - shall pay to Lender the amount necessary to make up the deficiency. $orrower shall make up we defi«cncy in nu mure tGan �--.----- ---__-
<br /> . " twelve mou*.�ly payments,at Lender's sale discretion. ,� . • ��
<br /> - Upon payment in full of all soms secured by this Security lnstrument, Ltinder sha11 promptly refund to B�nower any �`;`�`�''`�
<br /> ..L�h.�i�l!9':
<br /> ' • ' �� Fuads held by Lender.If,ander paragraph 21,Leuder shall acquire or sell[he Properry, l.ender,prior to the acquisition or sale � . • �. �
<br /> . . of the Property,shaU apply any Funds held by Lender at the time of acquisitiau or sale as a credit against the sums secured by ' ��� �
<br /> � � � . � . , this Securlry Instrument. . -;;
<br /> • 3.Appllcatlon of Paymeats.Unless applicable!aw provides othenvise,alt payments receivcd by l.cnder under para�phs ' . .
<br /> . 1 aad 2 shall be applieQ: first,to any prepayment charges due nnder the Note;ser,ond,to amounts payable under paragraph 2; ' , , � �_
<br />;�;;;�•.. � third,to interest due;faurth,to principal due;and last,to any late charges due under ehe Note. ' • • .
<br /> 4.Charges;Y.lens. Bonower shall pay all taaes,assessments,chazges. fines and impositions attributabie to[he Property •
<br /> . , which may attain prtority over this Security Insttumeat, and leasehold payments or ground renu, if any. Bonower shall pay ,. . •
<br /> . these obligations in the manner provided in paragraph 2.or if not paid in that manner,Borrower shall pay them on timc dircctly .. . ' .
<br /> . to the persan owed payment.Bonower shall promptly fumish to Lender all notices of amounts to be paid under this paragraph. ,. '
<br /> If Borrower makes these payments directly.Borrower shall promptly furnish to Lender receipts evidencing the payments. � •
<br /> ' Borrower shall promptly dischazge az�y lien which has prioriry over this 5ecurity Instrument unless Bonowee(a)agrees in - -
<br /> �,. ; writing to the payment of the obligation secured 6y the lien in a manner acceptable to I.ender;(b)contests in good faith the lien � � �
<br /> � � � ' by, or defends against enforcement af the lien in. legal proceedings which in the Lender's opinion operate to prevent the • --
<br /> � enforcement of the lien:or(c)secures from the holder of the lien an agreement satisfactory to Lender subordinating the licn to �
<br /> . ; , . .
<br /> '•�.` � �� this Securiry Instrument. If l.ender detesmines that any part of the Property is subject to a lien which may attain priority over .' : •
<br /> �;'� this Securiry lnstrument, l.ender may give Boaower a notice identifying the lien.Borrower shall satisfy the lien or[ake one or .
<br /> i more of the actions set forth above within 10 days of the giving of notice.
<br /> • ., .
<br /> . _ . ' .� Form 3028C�91�0/�
<br /> • • � ' " I �-6V(NE1�92���.0� Page2o16 mma�e.Kt•� `� , .
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