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<br /> ' THIS SECURITY INSTRUMENI' combines uniform covenants for national use and non�►niform covenaats with �:<< , "
<br /> `` ' `' ` limited variatians by jutisdiction to coastitnte a uniform security instrument covering seat property. o,.:.. � `
<br /> F`��. � i . � .. .
<br /> � ' ' ' �` UNIFORM COVENANTS.Borrower sud I.ender covenant and agree as follaw� '
<br /> ''�� ` ' .' '� 1. Paymemt of Principal and Interest; Arcpaymeat aad Late Charges. BorroNer shall pmmptly pay when due� • . � �
<br />, �,. , �
<br /> -�--` the rinci of and intcrest on the debt evid�nced b the Note and an �
<br /> _- � p pal y y prepayment and Iate charges due under the Note.
<br /> < .� • .:. 2.Funds for Taaes and Insnrance.Subject to applicahle law or to a written waiver by Lender,Borrower shall pay to� , � `�
<br /> _ , .._..: -
<br /> , � Lender on the dap monthiy payments are due uader the Note,unul the Note es paid ia full,a sum{°Fuads'j for.(a)yeartY�
<br />` •_•: ._. � f tases and asssesscnents which map attain priority over this Securitq Instrument as a lien on the Property: (b) Y�IY�a t .
<br /> `" ' ' leasehotd payments or gcound rents on the Property,if anp;(c�pearly hazard or propertq insurance psemium�(d)yeatl'" , , ":>.,.,
<br /> �`` � . `� flood inc�irance premiums,if any,(e)Yeat'ty mortgage insuraace preminms,if aap:and(f)anp sums payabie by Borrow , .
<br /> :�•';. ,. , � - to Lender, in accotdaace with the provisions of paragraph S,in lieu of the payment of mortgage insoraace premi� - - '- � '" �`�.
<br /> ' ' � These items ase called"Fscrow Items." Lender may.at any time,collect and hold Funds in an amount not to esceed th "��� �`��� � `�
<br /> '� ' ,l
<br /> , ` � masimum amount a leader for a federally related mortgage loaa may require for Borrower's escrow a�ount under th - " ,.;,.��::_
<br />'�r; . federal Real Estate Settlement Ptncedures Act of I974 as amended from time to time, 12 U.S.C.Section 2601 et seq. � ` °_-
<br /> s;� . ., ("RESpA"},ualess another]aw that appiies w ffie Funds sets a lesser amount.If so,Lender may,at any time.collect aud , . . .�;.'�; �
<br /> �_� " ° hold Fuads in an amouat aot to escxed the lesser amoun�Lender may estimate the amount of Funds due on the basis of :'���rs=–
<br /> ��,� , � ' curreat data aad reasonable estimates of espeaditures of future Fscrow Items or otherwise ir,accordance with applicable , ° _�--
<br /> .'{_< .. law.
<br />.:.;; .. •�. . The Funds shall be held in an institution whose deposits are insured by a federal agency. instrumentalitq,or entity •�' ` --
<br /> '-''°= ' (iacluding Lender,if Lender is such an institutioa)or in any Pederal Home Loan Bank.Leader shall applq the Funds w �
<br /> �;�" F�. � pay the Fscrow items.Lender may not charge Borrower for ho3ding and applying the Funds.annuallq analqzing the escrow :� _
<br />_:� . ._ accouat,ar v : . � '---
<br /> erifying the Fscrow Items.unless Lender paqs Borrower interest on the Fuads aad applicable law permits
<br /> s'� ' ' ';�� Lender to make such a charge.Howerer,Lender maq require Borrower to pay a one-time charge for an independent real �-r' � .: ��-
<br /> ` � estate tax reporting service used by I.ender ia connection with this loan,�mless applicable]aw provides otAerwise.Ualess •
<br /> �� � , .�• an agceement is made or applicable law sequires interesi to be paid, I,ender shall not be requued ta pay Borrower aay ' r'�„ :
<br /> `; ".: . � interest or earnings oA the Funds.Borrower sud I.ender may agree in writing,however,that interest sha11 be paid on the ` '''�°'
<br /> ' � Fuads.I.ender shaU give to Borrawer,without charge.aa aaaual accauntiag of the Funds,showing credits aud debita to the '�� �:�``�
<br /><<:�z , —
<br /> -k�� ' ' : Funds aad the purpose for which each debit to Ehe Funds was made.The Funds are pledged as additional securitq tor aU �.�e.�`r�':
<br /> �:,,_. , ' `,:. sums secvred bq this Security Instrument. . �;_-
<br /> �+ , If the Funds held by Lender esceed the amounts permitted to ba held by applicable law,Lender shall accouat to � . . .� ,,;F���._
<br /> a � , Bonower for the escess Funds in accordance with the requirements of applicable law.If the amount of the Funds held bq ,��.t��,_
<br /> - , ' Leuder at anq time is not sufficieat to pay the Escrow Items when due,Lender may so notify Banower in writing,aad,ia � �r �
<br /> `�` � such case Bonowec shall pay to Leader the amount necessary to make up the de�cieacy. Borrower shall make up the � `' " "'�
<br /> . �(. ;
<br />"''°` ' ' . � derciency in no more than twelve montlily payments,at Lender's sole discretion. � '•'�`-
<br /> �' ' � Upon paymeat in full of all sums secured bq this Securitq Instrument,Lender shall promptly refund to Banower any � `` "'�-�`
<br /> '����; ' . Funds held by I.ender.If,under paragraph 21.Lertder shail acquire or sefl the Property,Lender.prior w the acquisition or �: �����_`
<br />�.,:;,._. , .. sale of the Property,s�a11 applp auy Funds held bq Lender at the time of acquisition or sale as a credit against the sums . �" ':�� � -�—
<br /> - . � secured by tLis Security Inatrumen� ' ., ;��
<br />`�'`. ' 3. Applicat�on of Payments. Unlesg applicable law provides otherwise. all payments received bq Lender under ��r � ' .-�''�`';�`
<br /> _ paragraphs 1 sud 2 eha11 be applied:first.to eny prepayment charges due under the Nate;second.to amounts payable under . � 's:ae.
<br /> �.,_:
<br /> . paragraph 2;third,w interest due;fourth.to principal due;and last,to any late charges due under the Note. - . --
<br /> . 4. Charges; Lieas. BorroNer shall pay all tases, assesgments, charges. fines and impositions attributable to the ' � `�
<br /> ' Property which may attain priarity over this Security Instrument, and leasehold payments or ground rents� if any. '. �._
<br /> �'b:�-A , _ Honower ehall pay these obligations in tha manner provided in paragraph 2,or if not paid in that manner,Horrower sheU � `�_�
<br /> g�.-;�: -� , pay tAem on time directly to the person owed payment.Borrower shalt promptly fumish to Lender all notices oY amounts � •�� ' " ' ''�'�
<br /> ;� �' � to be paid under this paragaph.If Borrower makes these paqmenta directlq.Borrower shall promptly furnish to Lender . ..,
<br /> -�,:-': . . receipts evidencing the payments. _
<br /> '' �' Bonower ahall promptly discharge any lien which has priority over this Security lnstrument unless Borrower: (a) ' . � '
<br /> `��" agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)contests in • ' � �
<br /> f �; - good faith the lien by,or defends against enforcement of the lien in. legal proceedings which in the Lender's opinioa • �
<br /> '" operate to prevent the enforcement of the lien;or(c)secures Yrom the holder of the lien an agreement satisfactory to � ' � � ��
<br /> �.�.,
<br /> ' . I.ender subordinating the lien to this Security Instrument.If Lender deu�rmines that any part of the Property ia subject to a ` � � �
<br /> r ;. � lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. � .
<br /> :�;� Bonawet shall satisfy the lien os take one or more ot the actions set forth above within 10 days of the giving of notice.
<br /> `?r� � � , 5. Hazard or Property Insurance.$orrower ehall keep the improvements now existing or hereafter erected on the .., . . �
<br /> - � Praperty insured against loss by fire, hazards included within the term "extended coverage" and any other hazards, '
<br /> �� } . including floods or flaoding,Por which Lender requires insurance.This insurance shall ba maintained in tha amounts and � . .
<br /> = ' '. for the periods that Lender requires.The insuranca carrier providing the insurance shall be chosen by Bonower subject to ' • '" .
<br />.; � • Lender's approval which shall not be unreasonably withheld. If Borrower fails to maintain coverage described abova, •� � �
<br />_� Lender may,et Lender's option.obtain coverage to protect Lender's rights in the Property in accordance with paregtaph 7. � '
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<br /> � Page 2 ot 6 Fosm 30Z8 9J90 .
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<br /> ���" � ; CMORT2/NECMT2 9567975 �� '
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