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<br /> �� �. 'fOGEfHER WITH a1!the improve�nents now or hen�fter erected oa the property.and sili easemenu,appurtenances,and •;,�. ,;. '
<br /> t� � fixtures now or hereafter a vart of the pmpeny• A1� replacements and additions shall atso be covered by this Securiry '
<br /> � . . , �, p rty ° CO
<br /> - � Inswment. All of che foregoing is referred to in this Securi instrument ac the"Pro e �� ,', .
<br /> - BORROW�ER COVENANTS that Borrower is lawfully seised of the estare hereby com•eyed and ha,the right to grant and� ,
<br /> .`� _ � convey the Property and that the Property is unencumbered, exeept for encumbrane�of record. Borrower warrdncs and�vill� -_ . .
<br /> �. '. _ ,;_�:
<br /> -= --- •- -� - : clefend generally tke title to the Pmperty agaiRSt all claims and demands.subject to any encumbrances of record. _ _
<br /> _ " � � TH1S SECURITY IN5TRUMENT combines uniform covz�nu for national use and non-urtiform covenants with timited� . _
<br /> fy .: . . � variations by jurisdiction to cunstiwte 1 uni form securi ty i n s t r u m e n t coverin g real pro pe rt y. �
<br /> f<< � ' UMFORM COVENANTS.�Hoao�uer and Lender covenant and agree as follows: _
<br /> �; _. �, . " . 1. Pa3Taent of Principa!and late�est: Peepayraent and Late Chaeges. Borco•sver shall prompdy Pa!'te.�en du: the�
<br /> �" . principal of xnd interest on t he de bt evi den c e d by t h e N o t e an d a n y p r e p a y m e n t an d l a t e c h a r g e s d a e u n d e r t h�N o ,. :
<br /> �� � 2.Funds for Taxes and Insu�ance.Subject to applicable law or to a written waiver by I.ender, Borrower shall pay to -•;�,.:�
<br />°��� . Lender on the day monthly payments are due under the Note,until the Note is paid in full,a sum 1"Funds")for.(a)yearly taxes ,�. �r ::''
<br /> 7.., _ . 1,�';r
<br /> and assessments which may attain priority over this Security instrument as a tien on the Property:(b)yearly leasehotd payments ,..G.�
<br /> ` � . or ground renu on the Property,if any:(c)yearly hazard or praperty insurance premiums:(d)yearly floai insurance premiums. .. ____
<br /> {. �� � if any;(e)yearly mortgage iasurance premiums, if any;and(�any sums payable by Barrower to Lender, in accordance with —
<br /> •3 , . , � . �:
<br /> �,, ... � the provisions of paragraph 8.in lieu of the pay�ent af mortgage insurance premiums.Tftese items are called"Fscrow Items." ;;`f�
<br /> � � � Lender may, at any time, coltect and hold Funds in an amount not to excPed the maximum amount a lender for a federally �,
<br /> s� � . :� related mortgage loan may require for Borrower s escrow acrount under the federal Real Estace Settlement Procedures Ad of ,�
<br /> .� : _
<br /> ' � � 1974 as amended from ume to time. 12 U.S.C.'�ection 2601 et seq. ("RESPA"),unless another law that applies to the Funds ' . ;,�E
<br />.�_.- �. _ �:G
<br /> "� - sets a lesser amount. If so. Lender may. at any time. collect and hold Funds in an amount wt to exceed the lesser amount. � _= �_ ; __�-
<br /> �`` � � - Lender may estimate the amount of Funds due on the basis of current data and crasonable estimates of expenditures of future
<br /> Fscrow Items or atherwise in accordance with applicable law. y �s ':'
<br /> The Funds shall be held in an institutian whose deposits are insured by a federal agency. inswmentality, or enuty � � ,
<br /> -`3= -;�'M (inciading Lender,if Lender is such an institution)or in any Federal Home Loan Bank.L.ender shall apply the Funds ta pay the •• •`.`�;;�'t,,
<br /> s . ''� Escrow Items.Lender may not charge Borrower for holding and applying the Funds,annually analyzing the escrow account,or ':r�
<br /> :;�.> . . _.��.
<br /> � verifying the�scrow Items.unless L.ender pays Borrower interest on the Funds and applicable law permits Lender to make such -
<br />�=i�; , �. ;� ,.�,,`,
<br /> a charge. However. Lender may require Borrower to pay a one-time charge for an independent ceal estate tax reporting service •`;,,.,s��
<br />_ • ,��. used by I.ender in eannection with this loan, unless applicabte law provides otherwise. Unless an agmement is made or � ��
<br /> ' .-.�:;�.
<br /> " � �. ' ' applicable law requires interest to be paid,l.ender shall not be requirecl to p2y Borrower any interest or earnings on the Funds. ":�;��c;;r ..'.;,_
<br /> , Borrower and Lender may agree in writing.however,that interest shall be paid on the Funds. Lender shall give to Borrower, �--�'-
<br /> ` . � � . without charge, an annual accounting of the Futtds, showing crediu and debits to the Funds and the purpose for whicfi each •. �,�� . � ,;c°.
<br /> ���� � � - debit to the Funds was made.The Funds are pledged as additional securiry for all sums secure�by this Securiry Instrument. � ` `��
<br /> � � - If the Funds held by Lender exceed the amounts pemutted to be hetd by applicable law,L.ender shal}account to Borrower �',;`` ,�:";��t..
<br />- for the excess Funds in accordance with the requirements of applicable law. if the amount of the Funds held by Lender at any _
<br /> " • � time is not sufficient to pay the Escrow Items when due,Lender may so notify Borrower in writing,and,in such case Borrower ,�. ;:`
<br /> .,r�: ' . ' � ���' shall pay to[.ender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than ., . . ..:_-_
<br /> . twelve monthly payments,at Lender s sole discmtion. �+��-
<br /> ,. .'; Upon payment in full of all sums secured by this Securiry Instrument. Lender shall promptly refund to Borrower any ;. .f:-._
<br /> . ,�.�:..: ;;
<br /> • , �unds hetd by Lender.if, under paragraph 21, Lender shall acquire or sell the Property.Lender,prior ta the acquisition or sale � __
<br /> . ' of the Properry.shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secnred by : .��=
<br /> �. � � • this Security Instrument. • •
<br /> � �� - 3.Appltcation of Payments.Unless applicable law provides otherwise,all payments received by Lender under paragraphs : ,.
<br /> I and 2 shall be applied: first,to any prepayment charges due under the Note; sewrnl.to amounts payahle under paragraph 2:
<br /> � � • � third,to interest due:fourth,to principal due: and last,to any late charges due under the Note. '
<br /> • ' 4.Charges; Liens. Borrawer shaU pay alt taxes,assessments, charges. fincs and�mpositions attributable to the Property , ,
<br /> • . • ' .� which may attain priarity over this 5ecurity Instrument. and leasehold payments or ground rents. if any. Borrower sha11 pay
<br /> ' � these obligations in the manner provided in paragrapn 2,or if not paid in that manner, Borrower shall pay them�n time directly
<br /> � .� to the persan owed payment.Bonowcr shall prompdy fumish to Lender all notices oP amounts ta be paid under this paragraph.
<br /> if Barrower makes these paymen�s directly.Borrower shall promptly fumisi�to Lendcr reccipGc evidencing the payment5. :
<br /> � , 8orrower shall prompHy discharge any leen which has priority over this security Instrument unless Borrawer:(a)agrces in ��� •. :
<br /> t:� • writin�tc►the payment of the obligation securerl by the lien in a manner acceptabte ta Lender:(b)contests in good faith the lien , :
<br /> 'r by, ar defends against enforcemem of ihe lien in, legal procecdings which in ihe Lender's apinion operate to prevent the
<br /> �• � ; enforcement of the lien:or(c)secures fram the holder of the lien an agreement satisfactory to Lender subordinatin�the lien to , .
<br /> ,� this Security lnstrument. If Lender determines that any part of the Property is tiubjecc to a lien which may attain priority over �..
<br /> ' • , � this Security Imtrument. Lcndcr may givc Bonowcr a notice identifying thc liea Barrower+hail satisfy thc licn or take one or
<br /> � more of the actions set forth above within 10 days of the givin�of notice. '
<br /> � Form 3028 9J90 ,
<br />_ � � _ Pa�e 1 0l s • �
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