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<br /> 3 �n�;�;I'f;j;R �t'ITH all the improcements no�v at h�reoftrr erected an the pmpertp, an a ersemC ts, • • , , `. �`
<br /> oppurtenanc�,and tixtures non or hereafter a patt oP the property•A11 replacements ond additians shall ulso be rnvcted ' . ' A �
<br /> by this Security lnstrument.�11 of the foregain�is referred tn m th�s Security�Instrument as the"Prop�rty." k �;�.
<br /> YiORROt�E R('UVfiNatiTS that Borro��er is luwfutly seised ot the estete hereby conveyeci and hus the right tu S �.
<br /> grant and convey the 1'roperty and that the Property is unencumb�red, except for eneumbrances o4 record. Barrocver ; .� ��_
<br /> aarrantc and tvill detend generally the title to the Property aBainst ali claims and demands,subject to any encumbrances � . +�
<br /> of record. � ' � .
<br /> THIS SECL'RITY I�;STRGtiSE�'T combines uniform covenants 4or national use and non-uniforrn covenants with
<br /> - limited variaeions by jutisdiction to constitute a uniform security instrument covering real property. _ ,..
<br /> � Uti`IFOI?M COVENA.'VTS.Borrower and Lender covenant and agcee as follows: P p a when due � � � `a_-
<br /> 1.Payment oi Principa l an d ln t e r e s t;�'r e p a y m e n t a n d L a t e Char gelnseg d late ch�g duetunder the Note. � ' ,. ,�
<br /> the principal o f an d in t e r e s t o n t h e d e b t e v i d e n c e d b y the I�1ote and any p ep Y , � _-
<br /> 2. Funds for Tages and Insurance• Subject to applirable law or to a written waiver by Lender, Borrower s h a l l � . � `
<br /> i ��
<br /> pay to Lender on the day monthly payments are due under the Note,until the Note is paid in full,a sum ("Funds")for. —
<br /> r �a�y�ly�es and assessments which may attain priority over this Security Instiva o t ro a lienito�n�n�p�Y:� [_ , : ;`�_s'
<br /> yeariy te�seho2d papments or ground renu on the PropertY,if anY; (c) Yearly P P�Y ' _ � `._,,'-,`.-
<br /> d earl f�ood insurance premiums,if any;(e)yearly mortgage insurance premiums,if any;and tF}�y sums payable !- - ,'
<br /> : � )Y Y h 8,i n l i e u o f t he pa yment of mortgage insurance •, , • :
<br /> � ; by BonoNer to Lender,in nccar d a nce wi t h t h e p r o v i s i o n s o f g a r a g r a p .( ,,+��'�
<br /> � premiums.These items are called"Esctow Items."Lender may,at any time,collect and hold Funds in an amount not �. <• -
<br /> ' to exceed the masimum amount a lender for a federally related mortgage loan may require for Borrower's escrow o ' . �
<br /> � account under the federal Real Estate Settlement Procedures Act of 1974 as amended from time to time. 12 U.S.C. . .,�. . " �t,.
<br /> Section 2601 et seq. �"�pA��•unle�s another law that applies to the Funds sets a lesser amount.If so,I.ender may, '. �ic._. .
<br /> ,.� .
<br /> ' at an .°:1e, collect and hold Funds in an amount not to esceed the lesser amount.Lender may estimate the amount of -�.�.�
<br /> y__ . .
<br /> Funds due on the basis of cunent data and reasonable estimates of espenditures of future Fscrow Items or otherwise in ` ;•. , .• # .��,
<br /> accordance with appli�ble]aw. ., , -;�""�����
<br /> The Funds shall be held in aa institution nhose deposits are insured bp a federal agency,instrumentality,or entity � ; .� ,_ ...�
<br /> ;:;i���2N."r>•-�.,r
<br /> � (including Lender,if Lender is s.�c'r.an institution)or in any Federal Home Loan Ban1s.Lender shall apply the�unds to : , : 7�
<br /> r �r'.� .�.
<br /> • � pay the Escrow Items•Lender may not charge Bonower for holding and applying the Funds, annuallY analYung the ��,,:r!;�
<br />.. escrow account,or verifying the Escrow Items,unless Lender PaYs Borroaer interest on the Funds and applicable law �4.:.';.,,• .• ,- .
<br /> uire Borrower to pay a one-time charge for an . ' ''r"�,�f
<br /> ' permits Lender to rzake such a charge. However, Lender may req . , �"t� ; �
<br /> ' independent real e.state tax rep�rting service used bY Lendec in connection with this loan,unless applicable law provides �� �
<br /> othert:-�e.Unless an agreement is made or applicable laa requires interest to be Paid I.eadec shall not be require3 to ,,,:�._,, . �;` —
<br /> h t�18t i1lteTe� �•.:,� :r •
<br /> pay g�,;,o�cer an}interest or earnings on the Punds.Borro�er and Lender may agree in writing, flwever, • ,; , , �.
<br /> shall trz paid on the Funds.Lendsr shall give to Borrocvet,without char he Funds was madet1The F nds are pledged a.gs '.'�':�t�'-.��'�',;, .:�: ,, � -
<br /> �� credits and debits r�.4e Fun d s a n d t h e p u r p a s e f o r w h i c h e a c h d e b t t t o t .:.�; : i
<br /> additional securitq for all sums secured by this Security Instrument. .�"��:,:
<br /> . ' �'':'� . �
<br /> I f t he F u n d s h e l d b y L e nder exceed the amounts permitted to be held by applicable law,I.ender ahall account to �� ,''�#;, , �� �:�:��
<br /> ,���. Borrower for the escess Funds in acco r d a n c e w i t h t h e r e q u i r e m e n t s o f a p p l i c a b le law.I f t he amoun t o f t h e F u n d s h e l d �`� _
<br /> � by Lender at any time is not sufficient to pay the Fsccow Items when due,Lender may so notify Borrower in wridng, .,�.- _. �
<br /> and,in such case Bonower shall pay to Lender the amount necessarY to make up the de�ciency.Borrower shall make *�s•.: !•
<br /> up the deficiency in no more than twelve monthly payments,at Lender's sole discretion. �. :�� ,,-_
<br /> Upon payment in full of all sums secured by this Security Instrument,Lender shall promptly refund to Bonower '.;j� �: •_,��_
<br /> any Funds held by Lendet. It, under pategraph 21, Lender shall scquire or sell the Property, I.endet, grior to the ..,:�.�i .
<br /> acquisition or sale of the Property,ahall apply any Funds hetd by Lender at the time of acquis�tion or sale as a credit •.�'��.�4:
<br /> .;��'���...
<br /> . against the sums secured by this Security Instrument. >.,,
<br /> 3.Application oi Payments.Unless applicable law provides otherwise,all payments received by Lender under : ,{ ..
<br /> ,•s:'r: y.t •�,-:�
<br /> paragraphs 1 and 2 shall be applied:�rst,to any prepayment charges due under the Note;second,to amoua4s payable •�_
<br /> .' under paragraph 2;third,to interest due;fourth,to princ�pal due;and last,to any 1ate charges due under the Note. •,;=�;:�-v� :
<br /> � 4. Charges;Liens. Bonower shall pay all tases,assessmants. charges,�ines and impositions attributable to the _.,..,,r A��, —
<br /> ` a praperty which may attain priority over this Security Instrument, and leasehold payments or ground renta,if any. `.��, ,,.:
<br /> . �=•'+e;...
<br /> " Honower shall pag these obligations in the menner provided in paragraph 2,ar i4 not paid in that manner,Borrower t. �rr�'„.�
<br /> ' �;? shatl pay them on Bame directly to the person owed payment.Bonower shall promptly furnish to Lender all notices of �%.:*: �
<br /> ' amounts to be paid under this paragraph.lf Bonower makes these payments directly.Borrower shall promptly furnish .'�,.';-•�t,.
<br /> ' � '�1�
<br /> ;� to I,ender receipts evidencing the payments. �'
<br /> � Borcowec ahall promptly discharge any lien which has priority over thia Security Instrument unless Basco�ver:{a) � .. ,��'
<br /> � (b3 contests in -
<br /> agre�s in writing to the payment oi the obligation secured by the lien in a manner acceptable to Lender, '„�
<br /> g o o d fa�t h the lien b y,or defends against eniorcement of the lien in, legal proceedinga which in the Lend:r's opinion
<br /> . operate to prevent the en4orcement of the lien;or(cj secures from the holder of the lien an agreemen t sa ti s 4 a c t o r y to
<br /> :. .`� Lender sui�ordinating the lien to thia Security Instrument.If Lender determines that any part of the Property ia aubject
<br /> to a lien which may attam priosity over this Security Instroment,I.ender may give Borroaer a notice identifying the ��"
<br /> lien. �orrower shall satis4y the lien or take one or more of the actions set forth above within 10 days of the giving of --
<br /> � notice. . ' .�
<br /> Form 30�� 9/90 , ' --
<br /> � I���8R({��10217101 V�p�]01 6 If1ltiDb� )±'iv . .
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