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<br /> 'TOG�'I'II3:R WI'I'H nll tho improvoment� now or hereafter erected on tha property, end ell en�ements, , �. .
<br /> . uppurtenances,nnd fixturea now or hereuher a part ot tho property,All replucamente nnd udditione�hall nlso be covered
<br /> ; by thie Security In�trument.All of the for�;saing iA referred to in thiA Sccurity 1nAtrumant ae tha"Property." I
<br /> IIORROWIsR COVF?NAN'I'S that fiorrowcr ie IawPully�eised ot tho esteCe heroby canvayed nnd hae tha right to '
<br /> Srant and convoy tha Yroperty and that the 1'roperty ie unencurnbereci, axcept for encumbrances of record.Horrowor �
<br /> � warrante and will defend generally the title ta tho Proporty egainst ell claime and demandA,eubjectto any encumbrancca
<br /> •� of record. -
<br /> .. THIS SECURI'fY INSTRUMBNT combin�s uniform covenenta tor national usa and non-uniform covenante with .,
<br /> � limited variatione by jurisdiction to cc�netituto a uniform security instrumont covering real property. -.:
<br /> � UNIFORM COV�NANTS. Borrawor and I.er�der cavenent and a�reo ae followe: .
<br /> � 1.Psyment of Principal end Iatere9t;PrepaymenE end Lete Cherges. Borrower ehall promptly pay when due „
<br /> � tha principal of and interest on the dabt avidanced by tha Not�end nny prepayment and late charges dua under the Nota. , -
<br /> 2. Funds for Taxes end Insursnco. Subject ta applicable law or to e written waiver by Lender, Bonowar ehall ,_.-.-�
<br /> (uy to Lender on the day monthly paymente ara dua under tha Note,until the Note ie paid in full,a aum ("Funda")for:
<br /> a) yearly taxea and ns.5essmente whtch may attain priority avar thie Security Inetrument ae n lien on the Property; (b) � _ _
<br /> . yearly leasahold paymente or ground rents on tha Property,it any;(c) yearly hazard or property insurance premiume; �":�:�_.
<br /> (d)yearly flood insuranca pramiume, if any;(e)yearly mortgeg�ineurance premiume,if any; and(f)any eume payabla - ;�°'=�
<br /> by Anrrower tc�I.ender,in accardance �ith the proviaione ot parsgraph 8,in lieu of tha payment ot mortgage insuranca --
<br /> , premiums.The,e iteme ara called"Escrow Items."I,ender may.et any time,collect and hnld Funds in an smount not . =
<br /> to axceed tho maximum amovnt e lender for a tedarally related mortgaga loan may require for Borrower's escrow , s
<br /> �• account under the federal Real Estate Settlement Procedures Act of 1974 ne smended fram time to time, 12 U.S.C. �'-�,,
<br /> Section 2601 et seq. ("RFSPA"),unless aaother law that applies to the Funds sets a lesser am�unt.If so,Lendar may, t ,' b�
<br /> at any time,collect and hold Funds in an amount not to exceed the lesser amount.Lender may estimata the amount of • —
<br /> Funde dua on the basis of current data and reasonabla estimatea at expenditures of future Escrow Itema or otherwisa in , �.
<br /> accordance with applicable lsw. . —
<br /> Tha Funda ahall be held in an institution whosa deposite nre inaured by a tederal agency, instrumentality,or entity • +�,T� r�
<br /> (including Lender,if Lender is such an inetitution)or in any Federal Hoxne Loan Bank.Lender shall apply tha Funda to ' �
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<br /> pay the Escrow Iteme. Lender may not charge Borrower for holding and applying tha Funda, annually analyzing tha '';�`�� ;��,
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<br /> escrow account, or verifying the Fscrow Iteme,unless I,ender pays Honower interest on the Funds and applicabla law ' � ��
<br /> _ ,_____: rermiu I.ender to make such a charge. However, Lender may rec{uire Borrnwer to pay a one-time charge Por an _ °'' � _•?:
<br /> independent real estate tsx reporting service used by I.ender in cannection with this loan,unless epplicable law provides 'v `�
<br /> otherwise.Unless an agreement is made or applicabla law requi res interest to be paid,I.ander ehell not be roquired to � � t�
<br /> , pay Borrower any interest or earninge on the Funde.Borrower and I.ender rnay agree in writing,however, that interest ;; �
<br /> ehall ba paid on tha Funds. Lender ehall giva to Borrower,withc�ut charge,an anaual accounting of the Funcls,showing ��' .s�:
<br /> credits and debits tn the Funds and the purpose for which each debit to the Funda was made.The Funds are pledged ae �
<br /> additional security for all aums secured by thie Security Inetrument. � ; �,,
<br /> . If the Funde held by L.ender exceed tha amounte permitted to be held by applicable law� Lender ehnll acwunt to ,
<br />_ ' � Borrower for tha axcess Funds in accordance with the requirements of applicablo law.If the amount of the Funds held
<br /> by Lender at any time ie not sufficie�t to pay the Fscrow Items when due, Lender may so notify Burrower in writin�, _!
<br /> and,in such cesa Aorrower shall pay to Lender the amount necessary to make up tha deficiency.Borrower ehall make
<br /> ,. � up the deficiency in no more than twelva m.onthly paymenta,at Lender's sole discretion. ;�'
<br /> .. . Upon payment in full oi all sums secured by thie Security Inetrument.Lender ehell promptly refund to Borrowor - �3i�
<br /> any Funds held by Lender. If, under paragraph 21, Lender shall acquire or sell the Property,Lender, prior to tha -
<br /> • -� acquisition or sele of tha Property,shall apply any Funds held by I.ender at the timo of acquieition or salo ae e credit _
<br /> � " � against the sums secured by this Security Inetrument. --
<br />. . "` 3. Application of Paymente.Unless applicable law provides otherwisa,all paymente recaived by Lender under �-�
<br /> �. . paregrephs 1 end 2 ehall be applied:fxret, to eny prepnyment charges due undor the Note;second,to amounts payable
<br /> ' � under parngraph 2;third,to interest due;fourth,to principal due; and last,to any late charges due under the Note. --
<br /> 4. CLnrges; Lieas. Barrowar shall pay all texe�,acsessmr.nts,charge.4,fina9 and impositions attributable tfl the '°=� —
<br />- ' ' Property which may attain priority over this Security Instrument,and leasehold paymenta or ground rents,if uny.
<br />-- �• • Bonower shell pay theso obligations in the manner provided in paragraph 2,or if not paid in that msnner,Bonower —
<br />_ �' �� � shall pay them on time directly to the person owed payment.Banower shall promptly furnish to Lendar all notices of :���_...:.�.,..
<br /> amounta to be paid under this paragraph.If Borrower makes thesa payments directly,Borrower ehall promptly furnieh =��-_-_-°-�
<br /> : to Lemder receipts evidencing the payrnents. ='o ' <<
<br /> Horrower shall promptly discharBe nny lien�vhich haa priority over thie Security Instrument unless Borrower:(n) ;.,,:� ���
<br /> agrces in cvriting to the payment oi the obligation secured by the lien in m m�nner acceptable to Lendor; (b)contests in ":'"�c:.:;r,. •:�:`
<br /> good feith the lien by, or defends egainat enforcemant of tha lien in,legel proceedinga which in the I.ender's opinion • _--'_�ci:T�1:�-..�: -
<br /> ' operata to prevent the enforcrment of the lien;or (c)secures from the hvlder of the lien en ngroament satisfactory to �.:.�;,�;�.:�:tg_:�.;, .
<br /> Lender subordinating the lien to thie Security Inetrument.If Lender determine.s that any part of tha Property ie ewbject , .
<br /> to a lien which may attain priority over this Security Inetrument,Lender may give Borrower a notice identifying the '
<br /> ' lien. Bonower ehall satisfy the lien vr take ona or more of the actions set forth above within 10 days of the giving of � . _.
<br /> , iiotice. .
<br /> �—BRINE)ros+x�.o� o.�•�e�e Form 303���/9�90
<br /> Initl�b: �
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