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<br /> und all�ement,.'�}Zi nances�d • . � --
<br /> �'� TOGETHER WITH all the inpruvements now or hereafter erecced on the pmpertY• ' . • .: , =_
<br /> ` fixtures now or hereafter a part of the property. All replacements and additioas shall al�o bc co��ered by chi. Security �.: Z_`
<br /> instrument. All of the foregoing i.referred to in this Security Instrument as the"Pmpert}�.� , .=��.
<br /> BORROWER COVENANTS�hat Borcuwer i,law•fully seised��f the estate herehy cunve�rd and has thc right tu zrant and `', r,i �
<br />. convey the Property and that the Property is unencumbe�ae�nd�r ubjectc�an5 ncumh�ranc B�t�recnrci,�nt� :u►d wil� . , --
<br /> defend generally the tide to the Pcoperty against all clau►u
<br /> THIS S£CURITY INSTRUMENT combine�unifortn cnvenanu for national use and non-uniform cmenants��ith limited
<br /> variatians by jurisciiction to ronstitute a unifortn security instrument covenng re�al property. ' `, -=�_
<br /> -� i� UNIFORM COVENANTS.Bormwer and Lender covenant and agree as fn�11�Bo��W`r shall promptly pay when due the � _
<br /> - !. Paissieni of PrinciFal and Inter�t; Prepaymene and Late Cha� ��_,�___, :. , .
<br />_ --�-� . .
<br /> princip a l o f an d in tere5 t o n t h e d e h t e v i d e n c e d b y t h e Note and an y prepayment and late c harge�due mxirr the�otc.
<br /> 2. Fun d s for Taxes and lnsurance.Subject w applicable law or ti�a written waiver by Len der. Borrowe r s h a l l p a y t o
<br /> Lender on the day monthly payments are due under the Note.until the Note is paid in full,a sum 1"Fund�sr",)�°�eho pay�� Y` ' �`-"
<br /> � � and assessmenu which may attain priority over this Security Instrument as a lien on the Property: lbl y Y ' .r,.�,.
<br /> � = vr gruu�id rer.s ar.Lh�Pm�rt;r;if any:Ic)yearly ha7ard or property insurance premiums:(d)yearly tlood insurance premiums. �--- -. - . —
<br /> if any: (e)yearlY mortgage insurance premiums, if any: and(f)any sums payaoie oy nuc�oa�er io l.:-:��:. :r=�c°'�`�?nce with , -
<br /> f
<br /> the provisions of paragraph 8. in lieu of the payment of mortgage insurance premiums.These items are called "Escrow Items." .
<br /> Lender may, at any time. collect and hold Funds in an amount nat to exceed the maximum amount a lender for a federally ��;_
<br /> related mortgage loan may require for Borrower's escrow account under the federsl Real Estate Settlement Procedures Act of ` �,�,,.�
<br />, 1974 as amende�fram time to time, 12 U.S.C. St me�C�6�and hold Funds in an amuunttnot to excead the tes.serham un� ��1�'''�
<br /> _�—_
<br /> • sets a lesser amount. If sa, l.ender may. at any -
<br /> Lender may esrimate the amoun[of Funds due on the basis of current data and reasonable estimates of expenditures of future •, �r��
<br /> .'",�'•,��
<br /> Escrow Items or otherwise in accordance with applicable law. y y ,���:—_-
<br /> The Funds shall be held in an institution whose deposits are insured by a federnl agency. instrumentalit . or entit : � _`�
<br /> Y �. (including Lender,if Lender is such an institution)or in any Federal Home Loan Bank.Lender shaU apply the Funds to pay the . �.. -,';0._•:��„�_
<br /> Escrow Items. Lender may not charge Borrower for holding and applying the Funds.annually analyzing the escrow account,or `-�{-`��� ,�_
<br /> • verifying the Escrow Items.unless Lender pays Borrower interest an the Funds and applicable law permiu Lender to make such . -� ..=-
<br /> �? �
<br /> a charge. However. Lendcr may require Borrower to pay a one-time charge for an independent real estate tax reporting service �_k
<br /> _ ,�,
<br /> . � used by L.ender in connection with this loan, unless applicabie law provides othemise. Unless an agreem�ent is mude or °.:}�`'� '�
<br /> . ' applicable law requires interest to be paid. L.ender shall not be required to pay Borrower any interest or eamin s on the Funds. . � :
<br /> ,- � �,
<br /> � Borrower and Lender may agree in writing. however, that interest shall be paid on the Funds. L.ender shall give to Borrower. � 't ,
<br /> . without chazge, an annual accounting of the Funds, showing credits and debiu to the Fundc and the purpose for whicl� each . .,;� _
<br /> " debit to the Funds was made.The Funds are pledged as additional security for all sums secured by this Security Instrument. �; • .; v-°
<br /> -:., .. .
<br /> � If the Funds held by Lender exceed the amounts permitted to be held by applicable law. Lender sha11 account to Borrower � '; • ; �, �
<br /> ,�. for the excess Funds in accordance w�th the requirements of applicable law. If the amount of the Funds held by l.ender 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_�
<br /> shaU pay to Lender the amount necessary to make up the deficiency. Borrower sball make up the deficiency in no m�re than �� �
<br /> .... .._. nder's sole discretion. '•.�'�'F "
<br /> twelve monthly payments,at Le _
<br /> Upon payment in fu�� of a11 sum�secured by this Security Instrument. Lender shall prompn�i i hTeac u$s rion or sale � ; ° � � "
<br /> Funds held by Lender.If,under paragraph 21. Lender shall acquire ar sell the Properry. Lender,p 9 A,��.
<br /> s .�.
<br /> � of the Praperty,shall apply any Funds he l d by i.en der a t t h e t i m e o f a c q u i s i t i o n or sale as a credit against the sums secured by � !'�
<br /> . this Securiry Instrument. F"��,,y�,^���T
<br /> 3.Applicat�on of Payments.Unl�s applicable law provides othenvise,all payments received by Lender under paragraphs
<br /> -�„�"r-'-,i��.
<br /> 1 and 2 shall be applied: first, to any prepayment charges due�ander the Note:second,to amounts payable under paragraPh 2: • ,.,.,F ; .
<br /> � •,-�.+�-=�,-_°s--
<br /> � third,to interest due:fourth,to principal due:and last,to any late charges due under the Note. _ _;.-_�_�._,_
<br /> 4.Charges;Liens• Borrower shall pay aU taxe�c.assessments,charges, fines and impositions attributable to the Property '
<br /> � which may attain priority over this Security instrument. and leasehotd paymenu or ground rents, if any. Borrower shall pay �-4-;'-.�,=�ai�`
<br /> - - tnese u'viigai��;��i�.:.`.::t`.a^s�r p'^°'d?�'^Pn'�g�Ph Z'°i�f not paid in that manner,Borrower shall pay them on time direcdy � � � '�:
<br /> , to the person owed payment.Borrower shall promptly furnish to Lender all notices ot amounts w 6G pa��u��i:.i::is parsS:�ph- �,y�,_---
<br /> � ._-
<br /> [f Borrower makes these paymen�s directly.Borrower shall promptly furnish to Lender receipu evidencing the payments. �;`��r�;:,_
<br /> -°• ,.�- -�.
<br /> � . Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower:(a)agrees in : �wr> _
<br /> � writing to the payment of the obligatian secure.d by the lien in a manner acceptable ta Lender;(b)contests in gaod faith the lien ��{y
<br /> °�.._:s .
<br /> •� by. or d'efends 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 lc)secures from the holder of the lien an agreement satisfactory to[.ender subordinating the lien to
<br /> this Security lnstrument. If Lender determines that any part of the Property is subjece to a lien which may atiain priority over . �..
<br /> this Security lnstrument. Lender may give Borrower a notice identifying the lien.Horrawer shaU satisfy the lien or take one or —
<br /> � mom af the actions�et forth above within 10 days of the giving of notice. .^;:_.�` �.
<br /> Form 3028 9I90 �
<br /> � �.. Pa90 7 of 8 "i_,'�d!fY�` b'.
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