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<br /> ` �. TOG&THER W1TH a!1 the improvements now or hereaRer erected on the pm�ty.� fKs.appurtenances,and ;:t. �'v ,�� �,
<br /> ` - fixtures now or hereaRer a part of the property. All replacements and ad d itions s h a ll a lso be wvered by this Securi ty •. Y��• ;� ',:
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<br /> . . LLStr�ment.Ali of the foregoing is refeiced to in this Se�vrity Iastn�ent as the°Propert�r.' .
<br /> �'t� - ' BORROWER COVEHANfS that Borrower is lawtully seised of the estate hereby coaveyed and l�as the right to gram and "`�' J� "�
<br /> .. `•. - �, .. �
<br /> - - - : �_� . convey the Propescy and that the Property is nnencumbered.eaoep4 for eucumbranas of cecoid. Borrower warrants and will ` . . ` .
<br /> __ T"� "= defend generally the ritle to the Property against aq claims and demands,subject to any enwmbrances of recoid. _� . `-
<br /> .r•- . . - THIS SECURTfY INSI'RUMENT cambines uniform covenants for national useamd non-uniform croveuants with limiced -- _ ,
<br /> ' � � variadons by jurfsdiction to oonsrimte a uniform security insttwnent covering real property. - . -
<br /> `� • ' � UMFORM COVENANTS.Borrower and Leuder ooveuant and agree as follows: . �� � _
<br /> ,:;;;;
<br /> �- �`..� . � 1. Payment of Prindpa!and Interest4 �1�Yment aad Late C6arges. Borrower shall promptly pay when due the ;:r�:�._:�;
<br /> � � �. ' �. principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. ';
<br /> �� ` � ' '�' Z.Ftutds for Taxes aad It�st�auoe.Subjecc to applicabte law or to a written aaiver by Lender, Bormwer s h a l l pay to ;;;�;�•� ._.;'.�'-
<br />-• � : .. �,'�% Lender on the day mont6tp payments are due under the Note.until the Note is p�id"m fiill>a snm("Funds")for.(a)Yearly taxes � ti' `�'�":
<br />. � . �� . ` and assessments which may attain priority over this Secvrity Instrument as a lien un the Property;(b)Y�siy teaseho2d payments ' ':`.';•:.��_-.,.
<br /> . .. `,` . . - or ground rents on the,Property.if any:(c)YearlY hazard or property inswance premiums:!d)Ye�1Y t�oad insurance premiams. • :-�'-�:,:-A_.__
<br /> . � '`; if any:(e)Year1Y moRgage ins�rance premiums.if any;and(fl any sums payable by Borrower to L.ender, in accordance with =
<br /> .. the provisions of paragraph 8, in lieu of the payment of mortgage insurance premiwn�.'These items are ca!!ed°Escmw Items."
<br /> ' lxnder may�at any time.colled and hold Funds in an amount not to exceed the maximum amount a lender for a federalJy _
<br /> � . `.5�'` related mnrtgage loan u�ay require for Bormwer's escrow acrount under the federal Real Estate Setttement Procedures Act of
<br /> � t�374 as amended from time to time, 12 U.S.C.Section 2601 et seq. ("RESPA°), uniess another law that applies to the Funds , , ___
<br />� -�._ _�. ""'"_ sets a lesser amount.If so,Lender may,at any time, ooliect and hotd Funds in an amnunt not to eaceed the�:cer amount. . _ �'
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<br /> . „ Lender may estimate tke amount of Funds due on the basis of c+�rrent data and masona6le estimates of expenditures of future . �„,_ ''-
<br /> .. . . • Fscrow Items or otlierwise in accordance with applicable law. ,.,::�'f_
<br /> � ' The Funds shall be held in an ias6tution whose depusits are insured by a federal agency. instrumentality, or entity • r�•;;—_
<br />�`,,. � ., . ;.�.�� (incinding Lemder,if Lender is such aa insEiturion)or in any Federal Home Loan Bank. Lender shall apply the Funds w pay the " �•' �=-=
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<br /> ` . - - ..� Escrow Items.Leuder may not charge Bonower for hotding and applying the Funds,annw�lly analyzing the escrow account,or �".;�r�:_
<br /> • � `� verifying the Escrow Items,unless Lender pays Borrowee interest on the Funds and applicable taw pem�iis Lendei tu make such --
<br /> ��-_-�-
<br /> � •� a charge. However,Lender may require Borrower to pay a one-time c6arge for an i�lependent real estate tax reporting service �;'- . ���
<br /> I„ •. � ' , used by Lender in coruiectian with this loan. unless applicable law provides otherwise. U�tiess an ag�ement is made or ���`
<br /> . - - `. �.. applicabte law requires iuterest to be paid.Lender shall not be cequired to pay Borrower any interest or eamings on ttte Funds. :�. �;�;;-_—?
<br /> Borrower and Lender may agree in writing,however.that interest shall be paid on the Funds. Lender shall give to Borrower, •' '�a•z-
<br /> without charge, an annual acwunting of the Funds.showing crediu and debits to the Funds and the purpose for which each ��`�`
<br /> �: . ' . � debit to the Funds was made.The Funds are pledged as additional secairity for al!sums secured by this Security Instrument. ��_
<br /> If the Funds fleld by Lender exceed the amounu permitted to be hetd by applica6te law. Lender shall account to�orrower � _ _
<br /> ' � ' for the excess Funds in accordance with the requirements of applicabie law. If the amaunt of the Funds hetd by l.ertder at any '..� ���Y
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<br />• ' � . time is not sufficient to pay the Fscraw Items when due,L.ender may so nopfy Borrower in writing,and.in such case Borrower . ��*;;.;;_
<br /> . • . _ . shall pay to Lender the amount necessary to make up the def ciency. Borrower shall make up the deficiency in no more thau �'�'
<br /> . . �n..
<br /> • -. . - . twelve monthly payments,at Lender's sole discretion. � ' ,'� •� .''�`=
<br /> � ' lJpon payment in full of all sums secured by this Security Insuument. Lender shall promptly refund to Borrower any , ___
<br /> '; '. � Funds held by Lender. !f,under paragraph 21, Lender shall acquire or sell the Property,Lender.prior to the acguisition or sale � _=
<br /> � , of the Property. shall Apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by ' �:�.�
<br /> �..: �; . � ---
<br /> :. . � �: this Security Instrumer►t. . . _
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<br /> '� ��� -- ` 3.Appiication of Payments.Unless applicable law provides otherwise,all payments received by Lender under paragraphs ' ' ' '
<br /> ., . � 1 and 2 shall be applied:first,to any prepayment charges due under the Note:second. to amounts pa}�able under paragraph 2; " _. .
<br /> ' ' � third,to interest due;founh,to pdncipal due:and last.to any late charges due underthe Note. �;,� • _ _
<br /> , .; 4.Charges; Uens.Borrower si�all pay all ta�ces.assessments,charges. fines and impositions attributable to the Propexry _
<br /> � • ��� � which may attain pdority over this Security lnstrument, and leasehotd paymenu or ground rents, if any. Borrower shall pay -
<br /> '� � - -- these abligations in the manner provided in paragraph 2,or if not pald in that manner,Bortawer shall pay them on time directly : . •
<br /> � . • , to the person owed payment. Boaower shall pramptly fumish to Lender all notices of amounts to be paid under this parngraph. . -.
<br /> If Bottower makes these payments directly.Borrower shall promptly fumish to Lender receipts evidencing the payments. •
<br /> �. Sonower shall promptiy discharge any lien which has priority over this Security Instrument unless Borrower:(a)agre�s in ' , :_. •
<br /> � writing to the payment of the obligation secured by the lien in a rnanner acceptable to Lender;(b)contests in gaod faith the lien � �
<br /> � � by. or defends against enforcement of the lien in, legal proceedings which in the L.ender's opinion operate to prevent the . , .
<br /> � . . enforcement of the lien:or(c)sccures ftom the holder of the lien an agreement satisfactory to Lender subordinating the licn to
<br /> � this Security Instrumcnt. lf L.ender detcrmincs that any pan of thc Property is sub�at ta a lien which may attain priority over • �.
<br /> '. _ this Securiry Instrument. Lender may give Barmwc,n a notice identifying the lien. Borro�ver shall satisfy the lien or take one or .
<br /> � � � more of the actions set forth above within 10 days of the giving of notice. • �
<br /> • Form 3U28 9/90 � �
<br /> • . � '. � Fago 2 of 6
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