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APR.23.1998 11�09AM WMC (818)712 4044 N0.805 P.29
<br /> � �� 98- �c���4
<br /> TOCE"fHBR WTTH al�rhe improvem�nts now or hereafter ezecced on the property, and'�1 easeuaents, appurtenances, and
<br /> �ixtures now or hereafter a pnrt of the praperry. All replaaemea�ts and additions shall also be covexod by this Security
<br /> Tnsuvmeat. All of tha foregoiag is rePerred co in this Securlty Inskxument as the "Property.'
<br /> BORROWER COVENANTS that Borrower is �aw�1illy seised of the estate hereby coaveyed and has the right to gra�at a�sd
<br /> convey the Property dad tb.at the Property fs unencumbered, exccpt Por aicumbrances of record, aoxrower warrants and will
<br /> defend generally the title to the�roperty againat atl claims and demat�ds, subjeet to any encumbrances o�xecord.
<br /> THIS 3ECtJ�tXT'Y INSTRtTMENT com6ines t�i�oxm eovenants for national use aad non-uniform covenants with limited
<br /> variazions by juriadiction to coasdtuie a uaiform securlty instsument covering real properiy.
<br /> UNIFORM C�YENANTS, �azrower aad I.�nder covenant�nd ngxee as follows:
<br /> �. paymeafi of Prindpal and Interest; �'repayment erni I.ate Charges. �ortower shall promptl�r pay when due rhe
<br /> pr�ncip�l of aund intexesc on the debt evidenced by the Note and aay pregaymeat and late chatges duc uader the Note.
<br /> 2. I+hnds for Taxes and Insurence. Subject to applicable �aw or to a written waiver by L,endor, Borrow�r sY�II pay to
<br /> Lender on the da,y mdnthly payments are due under the Nou,until the Note is paid in full, a sum("fiinds")for: (a)yenrly taaes
<br /> and aasassments which may attaix►priority ovtr this Securlty Inatrumeut as a liea on the Property; (b)Yeatly Ieaseh4ld payments
<br /> or ground renta on the Property, if a�y; (C)ye�t'1y hazard or property insurance�ro�niums; (d)yearly flood insurance prelniWOas,
<br /> if au�'; (a) Yearly mortgage iaaurance premiums, if ttnY; �d �fl �Y �PaYable by Bonoti+ver to X�oder, ia axordance with
<br /> the provisions of p��l�$, ia lieu of the payment of mortgage in�stura�ee premiums. These itams are called "Esexow Iums."
<br /> Lender may, at any time, coIleCt and hold F�wds in aa amount not to exceed ths tt�axi.mum�amount a Iender for�a feeter�lly
<br /> related mortgage loan may require for Borrower's e�'ow account under the federal Real Estnte Stttlement Procedures Act of
<br /> 1974 as amanded fram tim�a to t�me, 12 U.S.C. Section 2601 et seq. ('R�SPA�), unless another law that applits to the Funds
<br /> sets a lesser smonnt. If so, Lender masr, ni aroty time, collxt and hold Furids i� aa amouat not to exc.eed the lesser amouut.
<br /> J�ndar may estimate the amount of Fbnda due on tb�� basis of cunent data �d reasonable asdmaeos of e,xpenditnree of future
<br /> Eserow Items or otherwise in accordanca with agpIicable�aW. '
<br /> 'I'he F�ads shall be held in an institution whose daposics are iasured by a federal a,pency, instxuz�enteliry, or entity
<br /> (ix�cluding Lender, if Lender fs such an inatitution)or in�+'k'ederal Homc Loan Bank. Lender a�all a�l�+the Ftiads to pay the
<br /> Fsczow Items. Leadet may not chazge Boaower for holding and applyiag the Fuads, aanually analyzing the escrow account, or
<br /> verifyiu�g che Eserow Ycems, ualess Leader pays Borrower interest oa the�ads and applieable law permits Lender ta make such
<br /> a char$e. However, I.endex may requiro Borrower to pay a ono-time chaige£or t�iad�dent real estato tax raporting serviee
<br /> used by Lender in connection with this lo�, unless applieable law provides atheravise. U�less an egreament is made or
<br /> applical�2e law r�qufres interest to be paid, Lender shall�pt be required to pay Borrower auy interest o�c ear,nings on the Funds.
<br /> Barrower at�d I.m�der may agre� in writing, however, th�t interes�sh�ll be paid on the Funds. Lender sh�ll giwe ta �oxrowcr,
<br /> without charge, an a�uu�l accouating of the Funds, showfn� eredits aud dobits La tl� �mds and the purpose for which eacl�
<br /> debit to the Punds was made. The Fuuds are pled.ged es additlonal security for alI su.ms seeured by tUis Security Ineuument.
<br /> If the Funds held by Lender excced the amounts peiu�itted to be held by applicable law, I.ender shall acs�ount to Boaxower
<br /> for che exce:s Ftinds ia accordance with the requirements of appliCable law. Tf the amaunt of the Funds held by Lender At any
<br /> tim�is not suffleieut ro pay the Eecrow Itema when due, T..euder may so notify Sorrower in writing, $nd� in such cas��orrower
<br /> shall pay to Lender the amount necessary to make up the deficieney. �orrower shall make ug the deficfency ia ao more than
<br /> twelve monthly payments, at I.ender's sole discret�on. '
<br /> U�pa paymeat ia full of aIl sums seaired by this Security Instriuucnt, Lender shall promptly refund to Borrawer a�,y
<br /> Pvuds held by Leuder. If, w�dax para�raph 21, Lender shall acquire or selt the Properry� Let�dox, prior to the acquisition or saie
<br /> of the Property, shatl apply any F�tads heid by Lendcr at the time of acquisit�on or sale as a�t a�a�st the sums secured by
<br /> this Sacurity Instrument. �
<br /> 3.Applicatton of Payme�s.TJ�tlesa applicable law provides otherwise, all payme�s recei�ved by J.,tnder uader paragraphs
<br /> 1 and 2 ahall be agplied: fust, w azry prepayment eh�rges due tmder tt�e Note; second, to amounts payable undet paragraph 2;
<br /> third, to�nterest due; fourth, to pr�ncipal due; �d last, to tuty lt�c1�2a'gos due uadrs the Note.
<br /> A. Ch�rges; X.fen�. Borrowes shsll pay all taxes, assessments, chargea, fines and impositio�ns attri�butable ta the Property
<br /> Which may atc�iAin priority over chis Seeuriry Insuument, ead leasehold paymeuts or sround rents, if aity, 8oxrower shall pay
<br /> t]�es�obligntio�s iA the m�aaer provided ia paragraph 2, or if not paid in thaz mazmer, Borrower shall pay them on time dirretly
<br /> to the�'son o�rod payrt�nt. Bortower sl�all promprly f'�rn3sh m Leader all notices of amounts to ba paid twdex'tlais paragraph.
<br /> I��o�cxov�►et�aakes th�se payments direc�ly,Bonnwer shall promptly fumish to Lender recei�ta evideuciag che paymen�s.
<br /> Borrower ahatl promptly dischazge aay lien which has prioriry ov.Gr this Securlty Instrument uniess Bonower: {a)agrees in
<br /> writing to che payment of the obligation secured byr the lfen in a mauner aCCept�ble to Le�ldex; (b)contests in good fafth the lian
<br /> by, or defebds aguin�t e�nforCema�t o� tl�o �iGn in, 1ege1 prae,eediags which iu the I.ender's opiuioi� opetace to prevent the
<br /> enforcement of the lien; or(c) secures from the holdst of th�k�an agraem�nt satlsfaetory to Lender subordinating the �ien to
<br /> this Security Instrument. If Londar determfnes that any part of the Pcopetry is subj�ct co a liea which may attain prfority over
<br /> this Security Instn�ent, Lender may give Bosower a notice idcntifying the lion. Sorroaer sha11 satis�y tt�e lien or take one or
<br /> more of she acdons se�foreh above with�a 1Q days of the giving of aotica.
<br /> 3 11-02/93 Form 5028 9/90
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