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<br /> '[�GEfE�R WITH all the improvemeats now or 6eceaftca e�ected on the propeny.and ali easements,aFPurtenances.�d � - , _
<br /> ,� • fixpues now nr hereafter a part of the property.All replacemen4s and additions shall also 6e covered by this Sec�uitY Instnaneat •
<br /> `` All of tt�e fongoing is reFeaed w in this Sec�uity Instrument as the"Property." ._ _ •
<br />- '..., g�gROyyER Cp�/p�ipNTS that goaower is lawfully seis�of the esFate hereby conveyed and has the right to gtant and . _
<br />_ _ . _ .. --_ convey the Property and tl�at the Property is unencumbeced.excePt for encumbrances of record.Borrowa aanants and will - - --- :-
<br /> defend enaalty the title tn the PmpertY againsi all claims and demauds.subjecx to any encumbrances of record.
<br /> . . • . g ' ,-_;:_
<br /> TfiIS SECURTTY INSTRUMENT cambmes uniform covenanu for narional use and non-uniforaQ cnvenants with limited ` �N�;:
<br />_ . • variatinns by jurisdictinn to consstimrte a�miform secmity instrumeut covering real P�P�Y- ' . : �' �:`•`.�.
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<br /> � U:VIHORM COVENANTS.Borrower and I.ender cove�ant and agree as follows: --:�'; ,,�,�.`;�..
<br /> y Payment of Prmcipal and Interest;Pre�ayment and Late Charges. Bauowu sbali PrumptlY PaY when due the , ,.� . -
<br /> - � pm�cipal of and'mteresE on the debi evidenced by the Note and any prepayment and late charges dne�mder the Note. :' �: �
<br />_ .' Z.Fnnds for Taxes aud Ynsarance. Subject w applicable law or w a wriuen waiver by Lendea, Horrower shall pay ro F ._�.r,.; .
<br /> --. _ � I.ender on the day monthly payments are due�nddea the Note,until the Nots is paid'm full.a sum("Funds")for.(a)yearly ta�ces . .' �;�.-�'•_-
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<br />- ` and assessments which may auain t�r►oritY over this Seairity Inst:ument as a lien an the Properiy;(b)Yearly leasehoId payments :. Y:°.,
<br />� �` nr gmuad rents on the ProyertY,if any;fc)Yearly ha7ard or property insurance premium�(d)YearIy f�oad insu�ance premiums.if --
<br /> � � � . . , °_
<br /> � �►Y;(e)Yeariy mortgage insurance prerniums,i f any.an d(�a n y s u m s p a y a b l e b y B o r ro w e r�o L e n d e r,u►a c c o r d a n c c w i t h t he i �i:�'�.-,_
<br /> provisions af puagraph 8, in lieu oi ehe paymem of mortgasc insarance pm.miums.'Riese items are c a U e d "F s crow Itcros. � . .�r:y'
<br /> . � t.endcs may.at any mnc.coUect and hold Funds in aA amount rtat tn caecccl thc maaimum amaunt a Icnde.�far a fedecaUy rctatcd f _ '� :�. �,;�
<br /> . mortgagc Man may requirc far Bormwer's csccow accaunt undcr 1hc feQeral Rcal Estate Sqllement P�acedures Act of 1974 a4 .-- -.
<br /> �• amendcd f:om time ta timc.l2 U.S.C.Section 2601 er seq. (,.RESPA").unlcss another law that applies to�he Funds scis a Icsscr J".. r. '�;
<br /> ,�- n I f s a L c n d er ma .at an y timc. coltect and hoid Funds in an aritaunt not w eacecd tAe lesser amoun� l.cndra may . �;:�-
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<br /> estimate ihe amaunt of Funds due on Ihe basis of cunent data and reasonable estimates of expendiwres of future Escrow Items or , , �';':t:`�,"„
<br /> �• ,�: . :;:;t
<br /> � � . � otl�erwise in accordance with applicable law. � -. =-..,�:�s'.-
<br /> `'� The Funds shaU be heid in an institution whose deposits are insurcd by a fcderaf ageacy.msuumentalitY.or cn6ty(including � :�.� ;'., 3 ---°_
<br /> � Lender.if Lendu i�such an uutitudon)or in any Fede�al Home Laan BaNc.i.ender shall apply the Funds to pay the Fscmw '• . ����`�
<br /> 's the escruw account,or v • .. �;;�•.��-:';
<br /> Items.Le�tded may not charge Bosrower for holding and applying the Funds.annually analYzmg �g •: �;, ..�;.
<br /> . ° the Essrow Items.unless Lender paYs Banower intenest on the Funds and applicable law ts Laider to make sucii a charge. �t;
<br /> . � P� , f=.�;=.
<br /> �.! However,I.ender may require Boirower W pay a onertime charge fin an uidependent real e.�mte ta�c reportinB service�ed by � . , �:; _�:
<br /> � � � Lender in connection arith this loan,un2ess aPPGcable law provides ot6eawise.Untess an agreernent is made or appHcab2e law ::;:��.�:-;.�
<br /> >r .
<br /> requires interest to be paid,Lendea shall not be required to pay Bosrower any interest or eamings on the F�mds.Borruwer and • ._
<br /> _ ' Lend�may agree in writu►g,however.that interest sLall be paid on the Funds.Lender sdall give w Borrow�,without charge,an - %-�''
<br /> - . . '�.:F'.r�
<br /> annual accounting of t�e Funds,showing a e d its an d d e biu to t he F u n d s a n d t h c p u r p o s e f o r w h i c h e a c h d e b i t t o t h e F u n d s w a s • . .,;;��
<br /> made.The Funds are pledged as addidonal security for all snms secured by this Sec�rity Instcument __ ,:`:3ae t=;
<br /> . � If the Funds held by Lender eaceed the arnounts permitted to be held by applicabte law,Lender shall mecount to Borrowea for � :;:,�;
<br /> the access Faads in accordance with the requirements of applicable taw.lf the amount of the Funds held by l.ender at any time is ;� �,.�,
<br /> ,'•':• . . ; . not sufficient to pay tha Fscrow Items wheo dne,I.ender may so norify Barrower in wriring,and.in suc6 case Borrower shall pay
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<br />,=.;, tn Lender the aznount neces.qary to make ap the deficiency. Boaower s�aa make up the defciency �no more than twelve . . .<,-__.
<br /> � monthly payments,at Lender's sole discretion. � • .,� �'':�F:�.s=
<br /> � ° Upon payme�nt in full of aD sauns seraued by this Secu3i�y Instrumen�Lender shaU�rompdy refund to Borrower anyr Funds , '' ' .:z�-:
<br /> ' . held by 1.ender.If,under paragraph 21,Lender shall acquse or sell the Property,l.ender,prior w the acquisitio�or sate of the � __�.
<br /> property,shall apply any Funds hetd by Lender at the rimc of acquisition or sate as a credit against the sums secured by this , . �; `::;:;,
<br /> � ` • � Se�urity Insoiument . .:`>,
<br /> ��,.. . .:��;
<br /> '` .. ' j 3.AppHcatioa of Paymeat4. Unless applicable law provides olheiwise,all payments received by Lcnder tutder paragraPhs , .' '.
<br /> � l 1 and 2 shall be applied: fust.ro anY PrePaYment charges duc ander the Note;second,w amounts payabte ander paragraph Z; .� ' ' `
<br /> third,w interest due:founh,to principal due;and las�to any late charges due under the Nate.
<br /> . '. . 4.Charges;Liens. Borrower shall pay a11 taxes,assessments,charges,fincs and imposidons atuibutablc to the Property ..
<br /> ' '� . which may attain priority over this Security Instrumait,and lcasehold payments or ground rents,if any.Borrowcr shall pay these .
<br /> . � obligations in the manncr provided in paragraph 2.or if nos paid in ihat manner.Borrower shall pay thcm on time d'uccUy to the .
<br /> �� person owrd paymea� Bonower shall prompdy fumish to l.cnder all nodccs of amounts to bc paid undcr ihis paragraph. If . .
<br /> �,�.' Borrower makes these payments dircctly.Bosrower shall promptly fumish to Lender receipis evidencing the payments. . .
<br /> Borrower shaU prompdy discharge any tien which has prioriry over this Security Instrument unless Borrowcr.(a)agrees in , � -. .
<br /> writing to the payment af the abligadon secured by the lien in a manner acceptabte to Lender.(b)contests in good faith the lien •
<br /> ,� . by, or defcnds against cnforcement of the licn in, lcgai procecdings which in the Lender's opinion operatc ro prevent the �
<br /> " . •� enforcement of the lien;or(c)secures fmm the holder of the lien an agreement satisfactory to L.ender su6ordinating the lien to
<br /> this Securiry Inswment Tf Lender determines that any part of the Properiy is subject to a lien which may auain priority over this
<br /> ' Sccuriry Instrument,Lcnder may givc Borrower a noticc identifying thc licn.Boaowcr shall satisfy the lien or take on�or rnore .
<br /> � of the acuons set for�h above within 10 days of the giving of noGce. . : ,'
<br /> , Form 3048 9/90 •
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<br /> ' . 1 �-8R(NE)(sx+z�o� aa0eaoie
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