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<br /> � 1 1'OUETHER WITH all thc improvements�iow on c�rcaftcr crccted on the property,und ell cascments, appurtvnanccs,and _'__-
<br /> fixtures now or hereafter a part of the properry. All replacements and addidons shall also be covered by this Security Insuumen� �`"�
<br /> All of thc foregoing is rcfcrrcd to in this Securiry Inswment as thc"Property." ,
<br /> BORROWER COVENANTS that Borrower is lawfully scised of the estatc hcrcby conveycd and has thc right to grant and
<br /> ° � convey ihe Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and wiA --
<br /> " defend generally the tide to the Property against all claims and demands,subject to any encumbrances of record. ••�+-
<br /> THIS SECURITY INSTRIJMENT combines uniform covenants for national use and non-uniform covenanis with limited
<br /> variauons by jurisdicdon to consdtute a uniform security instrument covering real properry.
<br /> UMFORM COVENANTS.Borrowcr and I.ender covenant and agree as follows:
<br /> 1.Payment uf Principal and Iaterest;Prepaymept and Lste Charges. Borrawer shall prornptly pay when due the : ___—_
<br /> principal of and interest on the debt evidenced by the Note and any prepaymenc and tate charges due under the Note. Y---
<br /> � � 2.Itiads for Taxes and Insurance. Subject to appllcable law or w a wriuen waiver by L.ender, Borrower shall pay to
<br /> � Lender on the day monthly paymenLs are due undcr the Notc,unW the Notc is paid in full,a sum("Funds")for:(a)ycarly taxes a °'-=-
<br /> n and assessments which may auain prioriry over this Securiry Insaument as a lien on the Property;(b)Yearly leasehold payments
<br /> or ground ren�s on tha Property,if enY�(c) yearly hazard or property insurance premiums;(d)yearly tlood insurance premiums,if _
<br /> any;(e)yearly mortgage insurance premiums,if eny;and (� any sums payable by Aorrowcr to Lender,in accordance with the -_.
<br /> provisions of paragraph 8, in lieu of the payment of mortgage insurancc premiums.These items are called "fiscrow Items."
<br /> Lender may,at any time,collect and hold Funds in an arr►ount not to exceed the meximum amount a lender for a federally related
<br /> -� mortgage loan may require fcr Borrower's escrow account under the fedenil Real Estate Settlement Procedures Act of 1974 as � •'
<br /> � amended from time to ame, 12 Li.S.C.Secdon 2601 er seq. ("RESPA"),unless another law that applics to the Funds scts a lesser ' �=
<br /> amoun� If so, L.ender may, at any time, coAect and hold Fu�ds in an amount not to exceed the lesser amount. Lender may �
<br /> �, estimate the amount of Funds due on the basis of currcnt data and reasonable estimates of expenditures of futurc Escrow Items or ,-
<br /> otherwise in accordence with applicable law. L' �:
<br /> The Funds shall be held in ttn institution whose deposits are insured by a federal a�ency,instrumentality,or endty(including _
<br /> �� , L.ender,if L.ender is such an insdtuaon) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow - `
<br /> _._____ _ I�,�����y n�t char�e Borcower for holding and applyinA the Funds,annually analyzin�the escrow account,or vertfying � ',
<br /> E the Escrow Items,unless L.ender pays Borrower interest on the Funds and appllcable law permits Lender W make such a charge. -
<br /> �: However, Lender may require Horrower to pay a one-time charge for an independent real estate tnx reporting service used by
<br /> . Lender in wnnecdon with this loan, unless applicable law provides othenvise.Unless an agreement is made or applicable law
<br /> . requires interest to be paid,Lender shall not be required to pay Bonower any interest or carnings on the Funds.Bonower and ,
<br /> � � L.ender may agree in wrlting.however,that interest shall be paid on the Funds.Lender shell give to Borrower,without charge,an . �
<br />� � annual accounting of the Funds,showing cmdits and debits W ihe Funds end the purpose for which each debit W the Funds was s�> -
<br /> made.The Funds are pledged as addidonal security for all sums secured by this Security Instrument. �►
<br /> If the Funds held by Lender exceed the amounts permiued to be held by applicable law,Lender shall account w Borrower for
<br /> tho excess Funds in sccordance with the requirements of applicable law.If the amount of the Funds held by Lender at any time is
<br /> not sufficient to pay the Escrow Items when due,Lender may so notify Borrower in�vripng,sind,in such case Barrower shell pay
<br /> � to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more then twelve �,:�
<br /> ' ' ' monthly payments,at Lender's sole discretion. �__
<br />- � ' Upon payment in full of all sums secuccd by this Security Instrument,Lender shall pmmpdy refund to Borrower any Funds
<br /> �� � " held by Lender. If,under paragraph 21,I.ender shall acquire or sell the?'roperty,Lender,prior to ihe s�quisidon or sale of the
<br /> -� • �' Property, shall apply any Funds held by Lender at the time of acquisition or sale as a cmdit against the sums secured by this
<br />� Securlry Instrumen�
<br /> • • 3.ApptFs�le:eu uS'Fayu�e�ls. Unle.sg epplicable law provides atherwisc. all paymcnu received by I.ender under garagra�l� �_- -__ —_-„_
<br /> — 1 end 2 shall be appl�ed: Crst,to az►Y Prepayment charges due under the Note;second,to amounts puyable under paragraph 2; -
<br /> °,.���!. . thlyd.W interest due;fourth,to principal due;and last,to any late chazges due under the Note. �
<br /> �� 4.Charges;Liena. Borrower shall pay all taxcs, assessments, charges. fines and impositions suributable w the Ptoperty �:
<br /> ., which may attain prioriry over this Security Insbrument,and leasehold paymenis or ground rents,if any.Borrower shnll pay these [».�=�_'"___
<br /> .• � obligadons in the manner provlded in paragraph 2.or if not paid in that munner,Borrowcr shell pay them on time directly to the K-p��__,:�__
<br /> �� person owcd paymenG Borrower shall pmmptly furnish to Lender all nodces of amounts to be paid under this paragraph. If �{{�—��:—�=-,-;
<br />— � Borrower makes ihese payments direcdy.Boaower shall promptiy fumish to Lender receipts evidencing the payments. .-:�.�—�_a,
<br /> Borrower shall promptly discharge any lien which has priority over this Security Inswmcnt unless Borrower: (a)agrees in E����".�'�:°'-
<br /> �. �sa.�,rr�wv.r�cc:...�;.-;:_
<br />� �vriwng w the paymenc of the obligation secured by the lien in a manner acceptable to Lender;(b)contests in good faith the lien ��Tia��'sr•a;:��
<br /> ��;�K=__
<br /> � by, or defends against enforcement of thc lien in, legal proccedings which in the Lender's opinion operate to prevent the ,� ��j;
<br /> enforcement of the lien; or(c) secures from the holder of thc lien an agreement satisfactory w Lender subordinating the lien to : �`a�`.•
<br /> ��:..
<br /> � this Security InsuumenG If Lender determines that any part of the Properry is subject to a lien which may attain pdority over this ,���'�.����'���'. �-.
<br /> :�a.r�":•`._ .
<br /> Security Instrument, Lender may give Bonowcr a nodce idendfying the lien. Borrowcr shall satisfy the licn or take one or more . ,. �,
<br /> � of the acrions set forth above within 10 dnys of the givin�of notice. • .
<br /> Form 3628 0/90
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