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<br /> ' • TOGEfHER WITH all the impravemenu now or hereafter erected on the property.and all easements,appurteaances.aad .
<br /> � : � fixtutes aow or hereafter a part of the pmperty. All replacements and additions shall also be covered by this Security � �.� .
<br /> � , �` �. ., � tnstniment.All of the foregoing is referred to in this Security Instnunent as the'Properry." �
<br /> , ` • . "� BORROWER COVENANTS thaz Borrower is lawfully seised of the estate herehy conveyed and has the right to gant and
<br /> • � . �� convey the Property and that the Property is uaencum6eted. except for e�umbrances of record. Sorrower v�arrants and witl . .
<br /> � _ : � defend generally the titte to the Properry against all ctaims and demands.subjecc to any encumbrances of record. - �; .,:- " �
<br /> � � ` . ` � THIS SECURITY INSTRUMENT combiaes nniform coveaanu for nazionat use and non-uniform covenants with Iimited -.=-'�=_�=�=:-° -` �
<br /> � . _� variatioru by jurisdiction to mnstitute a uniform security insaument coveriag real property. . „ . • �`
<br /> • UMFpRM CpVENANTS.Borrower and Lender coveaaat an�agree as follows:
<br /> : . . � l. Paylmeat of Psiudpa!and Intercti7; Prepaymeat and Late Cbarges. Borrower shall promptly pay when due the - �'`. ` � .
<br /> � princigal of and interest on the debt e�+idenced by the Note aad any prepayment aad late charges due under the Note. - «=�
<br /> � � • 2.FimdS for Taxes aad Insuraace. Subject to applicable law or to a wriaen waiver by Leader, 8orrower shall pay to , �
<br /> � , I.ender on the day montWY PaYments are due uader the Note.untit the AJotc is paid in fuil,a swn("Fuads')for.(a)Year1Y taxes . '':Y f•-��_�
<br /> ` . �. and assessments wiuch may attaia priority over this Security Insaument as a lien on the Property;(b)Yearly leasehold paymenu , .�:. ;N�:
<br /> �:_�.. _u
<br /> or ground renu on the Property,if aay:(C)YearlY haza�d or property incnrance pre�ums;(d)Yearly flood insarance premiums, _ ..�_�:
<br /> � if any;(e)Yearly mort�age insuranx premiums, if any:and(�aay sums payab2e by Borrower to Lender, in accordance with • . �.,;���:
<br /> , . the provisions of paragraph S.ia tiea of the paymeat of aiortgage insurance pzemiwns.These itefns are plled"Escrow Items.' '4' `
<br /> . � Lender may, at any+time.oolIect and hold Funds in an amount not to exc:eed the maximum amount a lender for a federally =_
<br /> . . <.: . . related mongage toan may require for Borrower's escrow account under the federal Real Estate Setttemem Procedutes Act of .. . c�
<br /> 1974 as amended fmm time to time, 12 U.S.C. Secxion 2601 a seq. ("RESPA').unless another law that applies to the Funds ��,�:��,
<br /> ` � sers a tesser amwnt. If so. l.ender may. at any time,coitect and hotd £hmds in an amount aot w exceed the lesser amount. . �°;_<. ... }=_-
<br /> • � Lender may estunate the amount of Funds due on the basis of current data and reasonabte estimates of eacpenditures of future - -; `.�``-���
<br /> ' Escrow Items or othetarise in accordaace with appGcable law. `"'°:"
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<br /> . 'f'he Funds shall be held in an institudon whose deposits aze insnred by a federal agency, instrumentality, or entity .��r.-=-::,�,�
<br /> • ' `; (including Lender,if Lender is such an institution)or in any Federal Home Loan Bank.Lender shall apply the Funds to Qay ttte � _.`_��-`�`���"`.�
<br /> � ..�' # Escrow Items.Lender may not charge Borrower for holding and applying the Funds,annually analyzing the escrow account,or :,. ,��.��
<br /> �•. �
<br /> �� " verifying the Fscrow Items,unless Lender pays Bonower interest on the Funds and applicable law permiu Lender to malce such .�'.�,':.
<br /> • . a cdarge.However,Lender may requir�Boaower to pay a one-tirae charge for an independent real estate tax ceporting service .��''�;�'
<br /> .� used by Leader in connection with this toan, unless applicable law pmvides othecwise. UNess an agreemeat is made or � !;�•�
<br /> . aPPiicable law requires interest to 6e paid,Lender shaU not be required to pay Borrower aay interest or eamings oa We Fuads. . „ix��'
<br /> � Bonower aud Lender may agree in writing,however, that interest shall be paid on the Funds.Lender shall give to Borrower, �• . . ='�--
<br /> without charge, aa annual accounting of the Funds, showing credits and debits to[he Funds and the purpose for which each ' �; !�'�=
<br /> : debit to tl:e Funds was made.The Funds arc plerdged as additioall sewrity for all sums secured by this Securiry Instrumcnt. � ���'
<br /> . . � If ihc Funds hetd by Lender eaceed the amaanu permitted to be held by applicable law.l.eader shall account to Borrower '����:
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<br /> . , �. � for the excess Funds in accordancc aith the requiremenu of applicable law. !f the amount of tlte Fuads held by Lender at aay -• . �::=�_::..
<br /> • '. time is not sufficient to pay the Escrow Items wheu d�e,l.ender may so notify Borrower in writing,and.in sich case Botrower . ,' ;"�
<br /> shall pay to I.ender the autount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than '. � •`'�=�-
<br /> . , tweive monthly paymenu,at Lender's sole discretion. � �. k`���-�
<br /> , .. 'i Upon payment in full of all sums sec�ued by this Securiry Instrument, Lender shall pmmptly refuad to Bonower any �t.=�
<br /> , 'j� Funds held by Lender.If,under paragrapb 21,l.ender shall acquire or seU the Property.l.ender,prior to che acquisiaon or sate ��—
<br /> - of the Property,shall apply any Funds held by Lender at the¢ime of acquisition or sale as a credit against the suuis secured by .. ..,
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<br /> this Securiry Inscrument. '''�=_.,
<br /> • `r 3.App�Ication of Peymenfs.UWess applicabic law provides otherwise,all payments received by Lender under paragraphs .
<br />_:i` �• ' 1 and 2 shall be applied:tirst, to any prepayment charges due under ttie Note;second,to amounts payable under paragraph 2; , � �
<br /> � : .1"..� third,to interest due:founh.to principal due;and last.co any late charges due under the Note. . -�-�
<br /> 4.Charges;Liens.Bosower shall pay all taxes,assessments.chazges,fines and impositions atuibutable to the Property ���-�_
<br /> . . • which may atta3n prlority over this Security Insttument, and leasehold payraents or ground rents, if any. Borrower shall pay , � :
<br /> these obligations in the manner provided in paragraph 2,or if not paid in that manner.Borrower shall pay them oa time dkectly - � . '`
<br /> •� . • to the person awed payment. Borrower shall promptly fumish to Lender all notices of amounts to be paid undet this paragraph. . ' :
<br /> If Borrower makes these payments directly.Borrower shall promptly fuinish[o Lender receipts evidenciag the paymenu. ' .
<br /> �� Borrower shall promptiy discharge any lien which has priority over this Security Instrument unless Boaower:(a)agrees in � .
<br /> � � � ' writing to the payment of[he obligation secured by the lien in a manner acceptable to Lender; (b)contests in good faith the lien . ' • , '
<br /> ' by, or defends against enforcement of the lie^ in, legal proceedings which in the Lender's opinion operate to prevent the � .
<br /> �'r � . enforcement of the tien;or(c)secures from the holder of the lien an agree�ent satisfactory to Lender snbordinating the lien to � . . ,
<br /> • . this Security Insin�ent. If Lender determines s.'�at any qan of the Property ;s subject to a lien which may attain priority over . .
<br /> � this 5ecurity Instn�meni.Lcnder may give Bonower a notice identifying the lien.Boaower shall satisfy the lien or take one or � . _
<br /> more of the actions set forth above within 10 days of the giving of notice. • .
<br /> . . , ( Form 3028 9/90 , , .
<br /> � �-6RINE)�9zi 2r-o� v,oe i oe e �,,;�,ys;_�
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