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<br /> � t ' 'l'QGGTH�R W1TH aU thc improvemenis�1ow on c�rcxftcr crected on thc property,and ull casemcnt��, appuituiutic�s,iind ��
<br /> fixtures now on c�rcaftcr it pnrt of thc property. AI! replacements and ndditions shull altio bc cuvcr��d by this Sccuriry �;
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<br /> Instruuient. All of thc forc�oing is rcl'errcd to in this Sccurity Instrument as the"Propeny." �=^
<br /> '� BORROWEIi COVENANTS thnt porrower ih I:xwfully seiseci of the estate hereby convr,ycd anc!hi���the ri�ht tu griint nnd j�,
<br /> , •. � comey the Property und diut the Property is unencumbered, ex�ept for encumbranees of record. �orrower w��rrunts und will
<br /> �7 defend generailly the tidc to thc Property ugainst all claims and deinands,subject to nnp enr.umbrances of rec�rd. ne:-
<br /> TH1S S�CURITY INSTRUMENT combines uniform covena�nts far nationul use and nomaniF�rm covenunts wi�h i+mited ' r
<br /> :�+�';X��' _
<br /> : _-�-,� variations by jurisdiction ta constitutc u uniform sccurity instrumcnt covcring reitl propeny. -
<br /> UNIFORM COVF.NANTS. Borrower ai�d Lendcr covenant and ugrec�s foUows: °�;
<br /> '���' 1. Payment of Principal and Interest; Prepayment and Late Char;�es. Bor�rower shall prompdy pay when duc thc �.
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<br /> ' principal of and interest on the debt evidenced by thc Note and any prepayment nnd Inta char�es duc under the Nore. �.
<br /> '�.�': 2. Fw�ds for Tnxes and Insurance. Subjcct to applicable la�v or to a w�utte�n wniver by Lender. Borrower shall pay to
<br /> 4 � L.cnder on thc day monthly payments are due uncier the Note,until the N�nU ir pnid in full,u yui►►t"Funds") for: (a)yc:►rly taxes !�'°
<br />, .�;;� , and assessmcnts which may attain priority ovcr ehis Security Ins[rument as a liun an tha Pmperty;(b)yeurly leasehold payments
<br /> �:;�::' or ground rr.nts on the Property, if any;(c) ye�rly hazard or property insurunce pmmiums;(d)yeurly flood insurancc premiums,
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<br /> ,�.�.;5 if an : (e)ycarl mort a e insurance remiums, if an ; nnd (�an tiums .n ubl�i b Qono�ver to I.ender, in accordance with
<br /> �' � . ." r:;:• the provisions of paragj-aph 8,in lieu of the payment of mortgage insurancG pmmiums.These items arc culled "Escrow Items." _-
<br /> " {�'`� Lendcr may, at any time, collect and hold Funds in an Amount no� to oxceed the maximum amaunt a lcnder for u fedarally
<br /> -�''� �" � �� related mortgagc loan may require for Borrower's escrow nccnunt und�r thn fedural Real Estate Setdement Procedures Act of __.
<br /> �� � ` � 1974 as amended from time to time, 12 U.S.C. Section 2601 et seq. ("R�SPA"),unless ahother luw tht►t upplies ta the Funds j�=''
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<br /> ;, sets a Icsser amount. If so, Lender may, ut any time, collect and hold Fund�in an amnunt not to exceed thc lesser nmount. q�„
<br /> ;� ��:�, Lender may estimate the an�ount of Funds due on the bflsis of current detu and reuscmnble estimntes of expendiiures ��f iuture -�
<br /> ���� :;;'i� Escrow Items or othenvise in nccordancr wiih applicable law.
<br /> ' ' The runds shall be hcld in an instiwtion whose deposits urc insured by a fedcral agency, instru�nsntality, or entity�
<br /> �'�'�}```�'• r (including Ixnder,if Lender is such an institution)or in any fiederal Home Loan Bank.Lender shall apply the Funds to pay the a::_
<br />-:::.'�+: '' �
<br /> _. . Fscrow Items.l.ender may not charge Borro�aer for holding and applying the Funds. annually annlyzing the escrow account,or
<br /> �•1-:;,:.,;�. •+ verifying the Esciow Items, unlcss Lcnder pays Borrower interest on the Funds and upplicable luw permits Lcndcr to make such
<br />,�4�,��� ..
<br />::-,�.,.'..r:-• a charge. However, Lender may require Botrower to pay a one-tirne cht�r�a for an independent rcal estate tnx reporting scrvicc
<br />•'cU F' �i used by Lender in connection with this laan. unless applicable law pivvidus othenvise. Unless an �tgrecment is mude �r
<br />�,y:.:t�f�.��.-... t p In 1 rs�t�;P� inp+ __ � J _.
<br />'_,.���_'�r� �.; �;��,�,�;..,,, s_� ,,,,_Tpc�rn hr naid; fender shall not be uircd tn peiv @orrower nny interest or carnin. s on the Funds.
<br /> �f.;. .-c Bonnwer and Lender may agrce in writing,however,that interest shall be pflid on the Funds. Lcndcr shall�ivc to Borrower,
<br />-:�: �.�'",``'i�';� without charge, an annual accounting of theFunds, showing credits and dabith to tho Funds and the pu�pcsse for which each -
<br /> '•�'�<`�r`�f�`: debit to the Funds was mnde.The Funds are pledged as additional secu�ity fc�r all sums secured by this Security lnstrument.
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<br /> .:��-.�,,.�� " If the Funds held by Lender exceed the amounts pernutted to bc held hy upplicable luw, I.,ender shall aca�unt to Iiorrower
<br /> �:.�.r,:
<br />-°•,t�3.,"'�` for the excess Funds in accurdance with tlie requirements of applicabla luw. If the amount of thc Funds held by Lender at any
<br /> -����=' time is not sufficie�it to pay the Escrow Items when due, Lender may s�notify Borrower in writing, und, in such case Borrower
<br /> __-�.�� shall pay to Lender the amount necessary ro mnke uQ the deficiency. Bnrra�vor shall muke up the deficiency in no more than
<br /> ���:�+�� twelve monthly payments, at Lender's sole discretion.
<br /> ==`�'��-��� Upon paymcnt in full of all sums secured by this Sccurity !ns¢tument, I..endesr sheill promptly refund to Aonower any
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<br /> -__- - Funds held by L.ender. If, under paragraph 21, Lender shall acquira nr se11 the Property, Lender,prior to the acquisittan or sale
<br /> --••��'n of the Property, shall apply any Funds held by L.ender at the time of acquit:ition or sale as n credit against the sums secured by
<br /> __.�.��a this Security instrument.
<br /> -----__--�] 3.Applict�Rion of PAypnents.Unless applicable law provides uthenvise.:iU payments receivecf by Lender under paragraphs
<br /> ----__—!+ 1 and 2 shall be applied: first, to nny pr�payment churges due undor the Not�; second.to amounts payable under paragr:l�h 2;
<br /> _ =j third,to interest due; fourth,to principal due;and last,to any late charges duu under the Note.
<br /> -----�-- �---_�� 4.Churgcs;Liens. Borrowcr shall pay all taxes, assessments,chargas, fines and impositions attributable ro thc Propeny
<br /> -'_�� which muy attain priority over this Security Instrument. urid leasehold pt�ymonts or ground rents, if any. Borrower shull pay
<br /> -- --`� these obligations in the manner provided in paragraph 2.or if not paid in thtit mttnner,Eorrower shall pay thcm on timc directly
<br /> '�-"y to the person owed payment.Borrower shall promptly furnish to Lender al[nutices of amounts to be paid under this pamgc�7ph.
<br /> ���,,,�,�,�3 If Bonower mukes these payments directly,Borrower shall promptly fumish�n�Lendnr receipt� evidencing the payments.
<br /> —.-- Iiorrower shall promptly discharge any lien which has priority over thiv Sccu�ity Instrument unless Borrower: (n)agrees in
<br /> - -''" writin�to the payment of the obligation sewred by the lien in n manner acceptuble to Lender: (b)contests in s�ood faith the Ilen
<br /> —'��� by, or defends against enforcement of the lien in, le�al proceedings which in tlte� Lender's opittion operate to prevent the
<br /> �=:-��+++��� enforcement of the lien;or(c)secures frorn the holder of the lien an agreement satisTuctnry to Lender suborclinnting the licn to
<br /> �-��'��J*'� this Security Instrument. If Lender determines that any part of the Property is suhjizct to a lien which muy nttuin priority over
<br />,• :_...:.���:
<br /> •:u,�ux.••-* this Security Instrument, Lender may give Borrower n notice identifying the li�n. Burrower shull satisfy thc li�n or tu'.ce on�or
<br />"�'~''-'��;�`� more of the actions set forth above within 10 dxys of the giving of notice.
<br />'�:•.� .. .��f
<br /> r '�. Form 3028 9/90
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