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<br /> � TOGETHER WI'fH all the improvements now or heteafter erecred on the property,and a�dsr.�ments, appurt�naaces, anC � • ' �
<br /> fixaues novr or hereatter a part of the property.All replacements and addiaons shall also b�covcred by this Sectirity Instrument. All of , ; , -
<br /> the foregoing is referted to in this Securiry Inscrument as the "Property." ' , �
<br /> BORROWER COVENAN7'S that Borrower is lawfully seised uf the estate hereby conveyed aud has the right to sran[ �nd . `
<br /> convey the Property and that the Property is unencumbeced, except for encumbrdnces uf recurd.Burrower warraats and wiU defend �-
<br /> generally the tiqe to the Property a0A1 Ct all claims and demands, sub}ect tu any encumbraaces of eecoid. ` . '
<br /> TH1S SECURITY INSTRUMENT combines uniform cavenaatti for natianal use and non-uniform covenanu witt► limited � � -' '
<br /> variadoas by jurisclictioa to constitute a uniform security instrument covering real propetty. � . �.
<br /> UNiFORM COVENANTS. Borrower and Lender covenant and agree as follows: �
<br /> l. Pay�ent oP Principal aad Interest;Prepaymeat and Late CLasgcs. Borrower shall promp�ty pay when due�he principal ' ' . " '
<br /> of and imerest on che debt evidenced by the Note and any prepayment and lace cLarges due under the Note. � � . ,
<br /> 2. FhadS for Taxes end dnstmdnCe. Subject to applicable law or to a written waiver by Lender.Borrower shall pay to l.ender . •. � �_
<br /> on the day monttily payments ase due under the Note,umil the Note is paid in full,a sum("Funds")for.(a)yearlytaxes and assessmenrs ' '
<br /> wlrich may auain priority over this Security Instnmment as a lien on the Property;(b)yearly leasehotd payments or ground tents on the � " -
<br /> ' Propeny.if any:(c) Yearly haTard or property insurance premin••,a: (d) Yearly flood insurance premiums. if any:(e) Year1Y mortgage _ , " ___.. -
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<br /> ���p��.��y:�(��Y�PaYable by Boaower m Lender. in accordance with the provisions of paragraph 8,in lieu ..:n.,�:... --.
<br /> of[he payment of mortgage insurance premiams.These items are called"Escrow Items."Lender may,at any Lime,collect and hold Funds ' . : �,•
<br /> 1 in aa amount not to exceed the maximum amount a lender for a federally rela[ed mortgage loan may cequire for Boaower's escrow � s . �..��:�
<br /> � accotmt under the federal Real Estate Seulement Procedures Act of 1974 as amended from time to time.12 U.S.C.Section 2601 et seq. � . _ _
<br /> , ("RESPA"),unless another law that applies to the Fnnds sets a lesser amouat. If so,Lender may,at any tune,colleci and hold Punds in . � ' x:-
<br /> an amount not to exceed the lesser amount. Lender may estimate the amount of Funds due on the basis of current data and reasonable ' , �:.. :`
<br /> �� � est�ates of expend'uures of fuwre Escrow Items or otheiwise m accordance wiih apglicable law_ , . � `°`--
<br /> The Paads shall be held in an iastitution whose deposits are insu�ed by a federal agency,instnmmentality, or entity (tnctuding �
<br /> 4 Lendet,if Lender is such an institutioa) or in aay Federal Home Loan Ba�lc. Lender shall apply the Funds to pay the Escrow Items. '.t�`�- .
<br /> s L e n d e r ma y no t c h a r ge Borrower for ho l d i n g an d app lying t he F u n d s,ann u a lly a n a l y a i n g t he escro w a c c o u n t,o r ve ri f y i n g t h e F s c r o w I t e m s. •. r
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<br /> unless L.ender pays Borrower interes[ on the Funds and applicahle law permits Lender to make such a charge.However.Lender may . • " � r,;4"�
<br /> • , require Boirower to pay a one.tmme charge for an independe�real estate tax reporting service used by Lender in connection with this loan. - ���- �
<br /> . unless appllcable law provides othenvise.EJnless an agnement is made or appGcable law requires interest to be paid.Lender shall not be - � � . .
<br /> iequind to pay Bor�nwer any interest or earnings oa the Funds.Anrrower and L.ender may agree in writing,fiowever,tLat interest shall ��� '"�
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<br />' be paid on the f'unds.Lender shall give to Borrower,without charge,an annual accounting of the AuncLv,showing cred'us and debiu to '' . _
<br /> ..�.sa�. '•
<br /> . - the Funbs and the purpose for which each drbit to the Punds was made.The Pund9 are pledged as additional sectuity for all sums secured • •'
<br /> : by this Securiry Instrumen[. r_ • "'_'� ,
<br /> If the Funds held by Lender exceed the amounts petmitted to be held by appficable law,Lender shall accoutu to Borrower for
<br /> the excess Funds in accordance with the requiremeats of applicable law.If the amount of the Funds held by Lender at any time is not � �-'- ' Y � ;i�1
<br /> 1 suf�cient to pay the Escrow[tems when due.Lender may so notify Borcower ut writiug,and,in such case Borrower shall pay to Lender ��.r,-.
<br /> the amount necessary to make up the deficiency_Borrower shall make up the deficieacy in no more than twelve moattily payments,at � �•.%). {
<br /> Lender's sole discmaon. �� t�` .
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<br /> Upon payment in full of all sums secured by this Suvrity lastrument, I.ender shall,�roatp8y tefund to Borrower any Funds held • I ,.�"�„� `'�°_
<br /> by I.ender.IP,und°.r paragraph 21,Lender shall acquire or sell the Property,Lender,prior to the acquisition or sale of the Property,shall �•'' ,-a�... ' ,,�
<br /> apply any Punds held by Lender at the tlme of acquisition or sale as a credit agaiast the sums securcd by this Security(nstrume�. • .
<br /> . 3. Applkadoa of Psymenis. Unless applicable law provides otDeiwise,all payments received by Lender under paragraphs 1 � �� '��= `•
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<br /> . and 2 shaU be applied: fust,to any prepayment charges due under the Notc: second,to amounts payable under paragraph 2:third,to - ��"�
<br /> interest due:fourth,w principal due;and las[.to any late charges dus under the Note. • �� � — --
<br /> 4. Charges;Ueos. Borrower sLall pay all taxey,assessments,charges,fines and impusitions apnbutable W the Property which , ::.;.,:,, �.
<br /> may attain prioriry aver thL9 Security Instrument, and leasehold payments or ground rents,if any.Bonower sLall pay these obligationv in - _�.{__
<br /> the manner provided in paragrapD Z,or if not paid in tl�at manner.Borrower shall pay them on time direcUy to the petson owed payment.. ' ' �
<br /> Boaower ahall prompdy fumish to Lendes all notices of amounts to be paid under this pazagraph.If Boaower makes these payments � . ��`��
<br /> directly.Borrower shall prompdy fumish to Lender receipts evidencing the paytneNs. ' " ' "��-.:.�
<br /> Borrower shall prompdy discharge any Qen which has prioriry aver this Secauiry Instrumtnt unless Bortower.(a)agrees in writing �
<br /> to the payment of the obligafioa secuied by the lien ia a manner acceptable to I.ender;(b)co�ests in good faith the lien by,or defends . � ^�� �
<br /> . agaiast enforcement of the lien in,legal proceedings which in the Lender's opinion opetate to prevem the effiorceme� ot the lien:or(c) _• _
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<br /> sewres from the holder of the liea an agreeme� satisfactory co Lender subordin�ting the lirn to this Security Instnunemt. If I.ender • .-�k-
<br /> determ3nes d�at any pan of the Property is subject to a lien which may aaain priority over this Security Iavtrument, Lender may give '^�'"'�`�'�-"""'• —
<br /> Borrower a notice identifying the lien Borrower shall salisfy the lien or take one or more of the actions set fonh above within 10 daye of :�"��''�';""'�'�'" i
<br /> the giving of noucc. ,
<br /> S. �trd or Froperty InsurBnce. Boaower shall keep the improvemems now eaisting or hereafter erected on the Propeny .�,,�,�„
<br /> iasumd against loss by fire,ha7ards included within the[etm "extended coverage"and any other ha7ards.including lloods or flooding,for � .
<br /> wlilch Lender require9 insura�e. This insurance shall be maintained in the amounts and for the periods tl�at Lender requines. The .
<br /> insurance carrier providing the i���+±+se shall be chosen by Borrower subject to l.ender's approval which shall not be unreasonably .
<br /> �( I+asm 302E 9l90 ' . . �;
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<br /> � IDS.[na Borrowet's Initials - . F �
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