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r6�e __—�_— __ _ ` _�. ... 31AL.)Ed[ �n.:__��--
<br /> � 98- sc,szs3
<br /> TOGETHER WITH all tlx:improvcmentK now or hereafter erected on the property,unci ali ea+cmentF, apEwrtenanaa,and
<br /> i�ztuney now or iiereaiicr u pa�� o� the pro�ry. Atl r�;tse��n:.nts .:nd «dd::iona sh»!I :el�o be eeverr�± hy thic Securlty
<br /> Instrument.All of Ihe forcgoing is referred tu in�his Security Instrument as thc"Prop��ty."
<br /> BORROWBIt COVBNANTS thul Borrower is lowfuUy seisccl of thc euatc herchy cunveycd und has thc right to grunt ond
<br /> com�e,the Property a►x1 that �he Property is utxncumbaral, except far rncumbrurk:es c►f record. A�rrower warrants and will
<br /> deferxl generaUy the title to the Property against all clufms anJ demunds. �ubject ta uny enc:umbru�x:es nf record.
<br /> 'fHIS SBCURITY INSTRUMENT combines uniform covenunts far nutional use an�l non•unifonn cuvenants with limited
<br /> varietions by juri.rdiction to conxtitute w uniform socurity instrument covering real properiy•
<br /> UNIFORM COV ENANTS. Barrawcr und I.c�xicr cova�ant and ugra as follows:
<br /> i. Ryment ut Princi�wl And Intenst; I'rep�ymmt �nd l.ate Ciu�rgea. Aorrower�tiall proinptly� �uy w{�cn duc tltc
<br /> pdncipwl of and intercst on thc debt evidcnced by thc Note and any prcpeyment and latc charges duc under�he Noce.
<br /> 2. Fundx for Tqxee �nd Insur�nc�. Subject to applicablo law or to� written wuiver by L.ender. Bc�rrower shall pay to
<br /> Lender on the day mnnthly paymsnts arc due undcr thc Notc,until the Nae is paid in full. a sum("Funds')for:(a)yearly taxes
<br /> and ussessments which may attain priority over this Security Inst►ument ar e licn on the Propeny; (b)yearly Ieacehold peyments
<br /> or ground rents an the Propecty,if any;(c)y�arly hazard or property insun►nce premiwn.s; (d)yearly flcwd insuranco premiums,
<br /> if eny;(e)yearly mortgpge insurance pramiums, if any; and(� any sums payable by Barmwrr tu Lender, in accordancc with
<br /> the provisions of paragrsph 8, in licu of the payment of mortgsge insurancc prrmiums.Thesc item�rre called"Escrow Items."
<br /> L,ender may, at a��y time, collect and hold Fuc�dfi in an amount not to excoed the rnaxirnum amaunt e lender for a federally
<br /> related mongage loan may rcquire for Borrower's escrow account under the federal Reul Estate Settlenxnt Procalures Act of
<br /> 1474 as amended Fmm timc to tlmc, 12 U.S.C. Section 2G01 rt s�q. ("RESPA"),unlesa unother law thut applies to thc Furds
<br /> sets a lesser anxiunt. [f sn, Lender may, �t any time, collect and hold Funds in an amount not to oxceod the lesser�rnount.
<br /> Ltnder may es�imatc the amount of Punds duc on thc basis of currcnt data and rcasannble eslimates of experditurac of future
<br /> Fscrow Items or�therwise irt ac�coMwxe with applicable law.
<br /> The Furds shall be hetd in an institution whose deposits are insured by o fodeml agency, instn►�trcntality. or entity
<br /> (including I.ender,if i.ender is such an ins�.irulion)or in any Federnl Home Loan Bank.l.ender shall apply the Funds to pay the
<br /> &crow Items. Lender nwy►at chnrge BoROw�er,for holding and applying the Funds. annually arwlyzing the escrow+�ocount,or
<br /> verifying the Escrow Items,unless Lender psps tiorrower interest on the Funds and applicable law permits Lerder to make such
<br /> x charge. However,Lender may roquire Horrower to pay a one-time churge for an independent rral estnte wu repc�rting service
<br /> usal by Ixider i�� cunnza:tion with t�is laan, unless applicsble law providts ottxnvise. Uniess �n ngre.�r�nt is made or
<br /> applicable law royuires interese to ix paid,I.cnder shall not be requirai to pay Borrawer any interest or earnings on the Furnis.
<br /> Borrower and l.�en3er rtwy agrec in writing, however,that intcrest shall be paid on the Fund�. L�.�ndcr s�hal!give to Borrower.
<br /> without chnrge, �t+annual accounting of the Funds, showing credits ancl debits ro the Funds and the purpose for which esclt
<br /> debit to We Funds was made.TE►e 1Funds ure pledged as additional security for all sums securod by this Security tnsu�unnenc•
<br /> If the Fwxis held by Ixnnc��.r exceed the amounts permitted to be tk(d by applicable law, i.ender studt aa,�ount ao�torrower
<br /> for the exoess Funds in accordaace with Uk�requirements of applicable law. If the amount of tLe Fuads held by Lenckr at a�t�r
<br /> time is not sufficient to pay the Pscrow Ilraas��'hen dua. Lender may so notify Borrowe�i�writing,�crvi;,in such case Horrowrr..
<br /> .ti.n �v m i�ndnr�tu+A�rwwnt nr.r.�rary�o�cnake uo thc dcficiency. Horrower shall make up the�deG�ciency in na more t1�en
<br /> � twolve monthly psyments,at Lender's sale discretlon. • •�
<br /> Upon payment in full of�all sums socu�ed by this Svc.�urity Instrume�t, Lender shull pron►pdy•refund to k�rn►wer any
<br /> Funds held by Len�er.If. undZr paragraph 21,l�ender shall ecquire or sell the Pcopeny,Lender,pr�crt to the acquisition or sak
<br /> of the Propercy.'-sha1►apply any Funds held by Lender at the time of acquisition or sale as n crodit�s�inst thc sums savred b�r�_.
<br /> this Security lns4s+anment. .
<br /> 3.Applic�tion of!'xy�nenrts:Unless applicabla law prpvides otherwise,all payments receivod by I.�nder under pucgrnphs
<br /> 1 and 2 sha11 be appliad: fir�t;laany pc+epayment charges due under the Note; socond,to amounts payable under paragraph 2:
<br /> thit�d,to inte�+est due; fourth,to principal due;and laat,to any late charges dne under the Note.
<br /> 4, Char�CS;Ue.ny. Borrower shalk,pa�.a91 taxes, assessmenta,chsrges,fines and impositions attributablc to the Propaty
<br /> which may atuir��riority over this Seaurity'.Instrument. and leasehold paymrnts or ground rente,'if any. Boroower sh�ll pay
<br /> these oblig�tions in the manner providec�in pAiugraph 2,or if not prid in tlu�t mannor,Borrower slu�ll pay thcm on time dirxdy
<br /> to the pereon owed payment.Aaurower shall prrnnptly futnish to I..ender dl notias of amounts t�be paid unda this��rag�aph.
<br /> If Horrower mekes these payn�nts dircetly�Bonowet ahali;�tomptly furnish ro[.ender reaipGc evidencing the pe�it.�ts.
<br /> Borrower rhall promptly discharge a�y 3.idn wli�ch.!has,prfority.over this Security Instrument unless Borrower:(�y uqrces iu�.•'
<br /> writing to the paynunt of the obligation sedur�@ by the•llen,�n a msumer acoeptable to I.ender;(b)contests in good faith the lia�i. • �
<br /> by, or defends ngai�st enforocment of th�'liea�i'ii,yegal.proceedings which in tho I,,endcr's opinion oper�te to prevent ttie'� "
<br /> enforament of the iien;�r(c)securos from the�older,01'the lien an agrcement satisf�ctciry to Lender subor+dinati��r,the lien to
<br /> this Socurity Instrument. If Lende�dctermines tl�ttt any patt of the PropeKy is subjacl ita a lien which may attai�,;pciority ova
<br /> this Security Instnunent, Lender may give Anrrowcr a notice identifying tha lien.Borrower shnll satisfy the licn or'take one or
<br /> more of the octic>ns set forth above withire 10 days of the giving of notice.
<br /> Form.30Ze 9l90
<br /> r.o.�oee
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