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<br /> : . � 'POGETI�It WiTH all the impmvemenu now or haeaftar crcxtcd an thc pmpeny.and all easements.aPPurt�.c:nanccs.and � "
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<br /> fi�c�s now or hexeafter a part of the PmPe�rt�►•Ali reptacemeau and addirions shall also be covered by�his Security Insaumenc �' : . ,..
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<br />= . j All of the foregomg is refeaed tn m dus Secaairy tns�ume.nt as t hc"P mperty" ' , .•` `.< i`
<br /> 1 BORROWER CUVENANTS that Boirowea is lawfully scised of the estate hereby canveyed and 6as the right to grant and C�
<br /> °_. ,=� convey the Pcoperty and that the Pcoperty is unencum 6 e r e d,eaccePt for encumbrances of record Borrower warrants and w�71� . . • .
<br /> t _- `~.-� defeud genaaily the titte to the Property against all claims and demands,subject to any encumbrances of r�cord - �_
<br /> THIS SECURlTY INSTRUMENT combines aniform covenants far narional ase and non-uniform coveaanu with limi�ed'� ' f.
<br /> `� variation.c by jurisdiction to constiwte a uniform se�rity umstcument covering ieai property. � .� �x. � - . ,
<br /> ' i� t J N�O R M C O V E[V A N 1 S.B o m n w e r a n d L e n d e r c ovenant aad a g r e e xs follows: , _,_ ' � .
<br /> . • . :� 1.Payme�of Priaapat and Interestt�aYme�t aad Late Cbarges. Bonower shall promP�Y PaY arhea� due the� _ _
<br /> - _ 3 priaci�al of and interest on the debt evidenced by the Nore and�y prepaymeat and late charges dne under the NoUe. � • •� ,
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<br /> Z.Fands for Taaes and Insnrance. Snbject to applicable 1aw or tn a wriuen waivea by L.endea, Borrower shall pay to ! '.. �:
<br /> , • '�., Leadea on the day monthlY FaYmenss are due uttder the Note,until the Nate is paid'm fu11,a sum("Funds")for.(a)yearty taaes ��'.::,;�s.�. �•.��;:�,•-,� ,
<br /> , j and assessments which may aVain priority ovet this Ser�uity Instr�menl as a lien on the Property;N)Y�Y leasehold payments { r ." ;
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<br /> t� . . � , or ground c�ts on the Propeaty,if anY.(c)Yearly hazard or ProP�Y�surance preaniums:(�Yearly flood insurance premiums.ff j . �._
<br /> msurance prem;,,n,�;if any:and(�a�►Y svms payabte by Borrower to Lender,in accordance with the :
<br /> �,: any;�e)Y�IY s�Se � . _ __
<br /> >; � � ` � � provisions of paragraph 8, in Heu of the payment of mortgage inst�ce premiwns.'Ihese items are c�IIed "F.scxow Itrans." . .. ' `.'
<br /> � � L.e�der may,at any time,collect and hotd Funds in an amount not tn euceed the maximnm amount a lender for a fedesally related ' ;;"�.�',-;
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<br /> s� . � . � mortgage Ioan may require for Borrower's escrow account under the federat Real Fstate Seutement P�oced�ues Aci of 1974 as ,.r,
<br /> , ��.�,� • ameuded from tnme to time,l2 U.S.G Sectian 2601 et seq. ("RESPA"),unless anothe.r law t6ai applies w the Fimds sets a lesse� ;>;�,�,,K ���°-
<br /> . amount If so,L.ender may, at any time,collect and hoid Funds in an amount not to exceed tbe 1�amount Leadea may _'==;r-�=�:'--�-
<br /> < �• .`;%� esmnare the amousit of Funds dne on the basis of aurent data and reasonabte estimates of e�cpendiuues of fumn Escrow Items or ' ,_
<br /> `� otheawise in accordance with applicable law. `
<br /> `''' , � ? 'Ihe Funds sha11 be held in an institution whose deposits are ins�red by a fedetat agency,iYU�uum�talilY,or endty(inclading � , ��.`•"
<br /> { �}- ' : °,� La�der,if l.eader is such an ins6tupon)or in atty Fedeial Home I.oan Bank.Latder shall apply the Funds to pay the Esarow _�
<br /> Items.Lender may not charge Borrowea for holdmg and a�plying the Fands,annuaUy analyaing the e.saaw accoimt,or verifying
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<br /> . . � the Escrow Iterns.untess Lender pays Borrower inteaest an the Funds and applicable law pemdts Lendea tn malce such a charge. ,.�,, ,�i„;,;j
<br /> , ., Hawever,Lendea may require Boirowe�to pay a on�time charge for an independent real estate tax reporting service used by ��.,�`.;��.:�;
<br /> .. Lender in connection with this loan,unless applic�ble law provides otherarise.Unless an agreement is made or applicabie law . . -,'..-;;-
<br /> . req�res intcres:to bc paid.Lender shall noi be required w pay Bosower any inte�est or eamings on the Fwtds.Borrow�and •� �
<br /> I.ender may agree in writing,however,that interest shall be paid on the Funds.Lender shall give to Borrower,without charge,an . . '••�;-�_.
<br /> � � ' � annual accounting of the Funds.showing credits and debits to the Funds and the purpose far wiuch each debit to the Funds was ,-''�
<br /> ' made.The Funds are ptedged ag addi6onal securicY for all sums ser,�ued by this Securiry Instrument � :,:��
<br /> ' � � � , If the Funds held by Leader eaceed the amounts peimiued w be hetd by appticabtc 1aw,Lender shall account w Horrower for _ ' __
<br /> � the excess Funds in accordance with the requirements of applicable law.If the amount of the FS�nds held by I.ender at any time is ��_-�
<br /> ' . � not suffcient w pay thc Escrow Itcros when due,l.ender may so notify Boaower in writing,and,in such case Borrower shall pay. ; , �%'��
<br /> � ' to Lender ihe amount neressary w make up the deficicncy. Borroxer shall make up the deFciency in no more than twelve =
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<br /> � monthly paymcnts,at Lendcr's sole discrciioa � � z_'
<br /> � Upon payment in full of all sums secured by this Security Instrumen�1.ender shall promptly rcfund to Borrower�ny Funds ,
<br /> �'� • held by Lender.If.ander paragraph 21.Lender shall acquire or seil the Propertyr,Lender.prior to the acquisition or sale of the . `*�
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<br /> prope�r,shall appiy any Funds hsld by I.ender at the dme of acquisition or sale as a credit against the sums secured by this � �+'
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<br /> �* Sccurity InstrumenL � •. '
<br /> 3.Appltcation of Payments. Unless applicable law provides otherwise.aU paymea►is ceceived by Lender uader paragraphs �
<br /> ;;'.� , � . 1 and 2 shaU be applied: fast,w any prcpaymem charges du;under thc Note:sevond.w amounts payable under paragraDh 2; ` � ,�_�:.�
<br /> " � ' third,w interest due:fourth,w principaf due;and last,to any late charges due under the Note. , �
<br /> ;.�+ � • � 4.Charges;Liena Borrower shall pay all taucs,asscssmenu.charges, fines and impositions attributab2c to the Propcaty • .
<br /> � ' f which may ausin prioriry over this Sccurity Instrumcn�and leasehold paymcnis or ground rents,if m�y.Borrower shall pay these _
<br /> . � � obligations in the manner providcd in paragaph 2.or if not paid in ihat manner.Borrowcr shall pay them on time d'uectly w the � . :
<br /> � pcxson owcd payment Borrowcr shaU prompdy fumish w Lcreder ail aodccs of amounts to be paid undcr this paragraph. Ii
<br /> ' E Borrowcr malces�hese payments d'uectty.Borrower shall prompily fumish w l.cnder rcxeipts evidencing the payment�. . . . , •:
<br /> I"� • i Borrower shall promptly discharge any licn which has priariry over this Security Instrument untess Borrower.(a)agrees in �� �
<br /> . � ; writing to the payment of�he obligation secured by the licn in a manner flcceptable to Lender:(b)cantesis in gaod faith the lien
<br /> ' by, or defends against enforcement of the licn in, lcgal proceedings which in the Lcndcr's opinion operate to prevent the ,
<br /> ; enforcement of the lien;or(c)secures from the holder of Ihe lien an agreement satistacwry to l.ender subordinating the lien w
<br /> � . � this Security inswmen�If Lender detcrmines Ihat any part of the Property is Subject to a lien which may attain priority over this .
<br /> � Sccurity Insuumcnt.Lcnder may givc Borrower a notice identifying the lien.Bonower shall satisfy thc licn or lake onc or mo:e : �
<br /> • � of the acrions set forth above within 10 days of the giving of nodce. �
<br /> Form 8028 9�90
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