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<br /> ' �7- �G�U31 , , , . ,__
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<br /> '[�OGETHER WITH all i�e improvements now or I:ereafte� �recied on the p:o�rty,and a:l easeauenis,aPPurienanc:es.and �-� _ ..: _ _ ��
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<br /> funues now or hereafter a part of the property.All replacements and addiuons shaIi also be covered by this Sec�rity Insuument •
<br /> All of the foregoins is refemed w in this Szauity Inswment as the"Property." �
<br /> `. BORROWER COVENANTS zhat Bormwer is lavvfully seised of the esrata hemby conveyed and has the right tn grant and � . ` �*---
<br /> ' wnvey the Property and that the Property is �unencumbered,ea�cept for ens-�mbiances of record. Borrower waaanu and will ` .. .
<br /> �•! defend generaAy the ade to the Propetty against all claims and der�ands,subject to any eacumbrances of record. ; � �• ._
<br /> i TH1S SECIJRITY 1IdS1`kUvi�:."T combines uniform covenants for narional use and non-uniform covenants with limited � ' � ••�-
<br /> •f variadons by jurisdic6oa to wn�tiwte a uniform seciuity instrument covering real property. � � _
<br />- �! UNIFOitM COVENANfS.Borrower and Lcaeder cavenant and agree as follaws: . --,-. _ .. -
<br /> � 1.Pay�aent op Prindpal and Interest;Prepayment and Late Charges. Borrower shall gromgdY paY when due the f '
<br /> principal of and interest on the debt evidenced by the Noie and any prepayment and late chasges due under the I�Iote. . ���
<br /> Z.Elunds for Taxes and Insurance. Subject w applicable law or to a wriuen waiver by L.eader, Borrower shall pay to � � --
<br /> Lender on the day mont6ly payments are due under the Not�,until the Plote is paid in full,a sum("Funds")for.(a)yearly taxes t � � --
<br /> and assessments which may attain priority over this Security lnstn�ment as a lien on the Property;(b)yearly leasehoid payments ! ; • � - . -
<br /> or ground reats on the Property,if any;(c)YeartY hazard or property ins�rance premiums;(�Yearly flood insu�ance premiums,if � � � ` , '` �
<br /> anY:(e) Yearty martgage insurance premiams,if any;and(�any sums payable by Borrowra to Lender,in accordance with the ; � . . . _
<br /> provisions of paragiaph S,sn lieu of the payment of mortgage 'vlsurauce premiums. These items are caUed "Esaow Items." � � � „ � . _ �
<br /> ap � ..�;�-•��
<br /> Lectder may,az any tune,collect and hold Fuads in an amount not w eacePd the maximum aucoiu►t a lendea for a fedeaally related � - .� --
<br /> mortgage loaa may requize for Borrower's esccow account uader Ihe federai Real Estate Seulement Praced�res Act of 1974 ac •' ��. ' ' �
<br /> amended from tims to time,l2 U.S.C.Section 2601 et s � , '��5�:•
<br /> e9• ("RESPA"),untess anoiher law that applies to the Funds sets a lesser •:-�,
<br /> fy.
<br /> amount If so.Lender may,at any time. collect and hold Funds in an amouat nn[rn exceed the lesser amount Lender may ,�`:r .; - -
<br /> estimate the amount of Funds due on the bagis of caurent data and reasonable estimates of expendinues of fuwre Escrow Items or � -
<br /> atheaaise in accurdance with applicable lav�. � .. . . '„va=�-:
<br /> � 'Ihe Funds shall be hetd in an instimtion whose de.posits are insured by a federal agency,ms�umentaliry,or enrity(including '�-r°._.s=-=-
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<br /> ` Lender, if Lender is such an instimtian)or in any Fed�al Home Loan Bank. Lender shall apply the Funds tn pay the Escruw . . ,�-.
<br /> : Items.Lender may not charge Borrower for holdu�g and applying the Funds,annvally analyzing the escrow account,or verifying . r� .
<br /> the Fscrow Items,unless Leuder pays Borrowea inteaest on the Funds and applicable law permits Lend�w make such a charge. .' � -.�.�,�` _
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<br /> . • Hawever,L.enda may mquire Borrowa to pay a on�time cdarge for an iudependent real estate tax reporting service ased by _ -"-
<br /> . Ix�uder in connection with this loan,unle�s applicable law provides otherwisc.Unless an agreement is made or applicable law ` .
<br /> uaes interest w be aid,Les�!der shall not be � �, : ' `
<br /> req p ' Les required to pay Horrower any interest or eammgs on the Funds.Bozrpwer and ' � �.�- �`�:; ";. _
<br /> Lender may agree in writing,however,that int�esi shall be p2i3 on ths Funds.Lender shall give to Borrowcr.withaut charge,an .:.: ' '-,.��'-�-4 j:` ,t_
<br /> . annnal acooantin of the Fuads,showin credits and debits w the Funds and the � �j"' �"
<br /> 8 g purpose for which each debit to the Funds was �y, � —
<br /> made.The Funds are pledgecl as additional security for all sums sec�ued by this Securiry Instrument � ;; F � ��:'.� '. —
<br /> ff t h e F u n d s h e l d by I.en d e r ex c e e d t he amounu pemri u e d w b e he t d by aFp li c a b le l aw,L e n der s h a ll accAiu►t to Bonower for � "'�' �;°` ��
<br /> the excess Funds in accordance wiW the requirements of app]icable law.If the amount of the Fands held by Lender at any time is .�*� �� .�� �--
<br /> ' not sufficient to pay the Escrow Items when due,I.ender may so rentify Borrower in wriiing,and,in such case Borrowea shall pay �•. •. Y'., -
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<br /> .- t o L e n d e a t h e a m o u n t n e c e s s a r q t o m a k e u p t h e d e fi c i e a c y.B a n o w e r s h a l l m a k e u p t h e d e f i c i e acy i n n o m o r e t h a n t a+e l v e ''`,-`"'' - z�'��� '. _
<br /> ..� mondily payments,at Lender's sole discretion. .;��.� . . �r�,,-
<br /> Upon payment in full of aU snms seWred by this Securiry Insmiment,Lenda shall prompdy refund to Botrower any Funds �;'s•: . � {-�-�'��_-_;:,.
<br /> held by Lend�.If,under paragraph 21.Lendea shall acquire or seU the Pro p' acquisition or sale of t�e ���d"' • "��?
<br /> perry,Lender, nor tn the � ..
<br /> property,shall appIy any Funds held by Lender at the pme of acquisi6on or sale as a credit against the sums secured by this ' ...�•�. '��'� " -
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<br />, Security Inctrumeui .��.g.�. . ,��
<br /> 3.ApplicatIon of Paymeutg. Unless applicable law provides othetwise,all paymerr9s received by Lendea under paragzaphs . . .�;�`�' .:,�-'���..
<br /> . 1 and 2 shall be applied: fust,to any prepayment charges due unde�the Notc;secoud,w amounts payable ander paragraph 2; ::��, ";__
<br /> third.w intaest due;fourth.w principal due;and last,to any late charges due under the Note. s��;�
<br /> 4.Charges;Lieas. Borrower shall pay all ta�ces,asse.qsments,charges, fines and imposidons atnibutable to the Property . � -
<br /> which may attain priority ov�this Security Inswment,and leatelaold payments ar groand rents,if any.Borrower shall pay these „��`y•�'�``!*� -
<br /> ob' ons in the manner "4''�,.;._,-=---'-- °
<br /> ligati provided in paragraph 2,or if not paid in ihat manner,Boaower shall pay them on ti�me directly to the . . _
<br /> peason owed payment Borrower shall prompily fumish to Lea�der all nouces of amonnts to be paid under this paragraph.If . . � ��.�_
<br /> Botrower makes these paymeats directly,Bonowe.r shaU promptly fumish tn Lender receipts evidencing the payments. � . . .�:'�-: . .
<br /> Borrower shall promptly discharge any lien which has priority over this Securiry Instrument unless Borrower:(a)agrees in '=?=4'�'�„�'�
<br /> writing tn the payment oF�he obligation securetl by the lien in a manne.�acceptable to Lender:(b)contests in good faith the lien � -•
<br /> by. or defends againsK enforcement of the lien in, legal proceedings which in the L.ender's opinion operate to prevent the • . �� �
<br /> enforcement of the[s;a:or(c)secures from the holder of the lier�an agteement sadsfactory to Lender subordinating thc lien tn .. �'
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<br /> this Securiry Insuuaseni.If Lender det�mines that any part of the Prcfperty is snbject to a lien which may aVain priority over this � .. . �.
<br /> Sec�uiry lnswment,Lendea may give Borrower a notice identifying the lien.Borrower shall sabsfy the lien or take one or me�re � ._� e
<br /> � of the at�ons set forth above within 10 days of the giving of noqce. • —
<br /> Form 3028 9/90 �
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