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<br /> TOGBTNER WITH all the improvementg now or hercafter erocted on thc proTxrty,sntl.aU ca�nxnis;�P}3Tir��n�s�urxi _
<br /> tixturex m►w or herenfter a part of the property. All replacements ancl aciditians shull ulsc� t+a eoverecl hy t6is aecuricy
<br /> Instrument All of the fc�regoing is rcferred to in thiF Securiry Instrumcnt ns the"Property."
<br /> BORKOW�R C'QVBNANTS that Horrower is IawfLlly scisecl of thn cstutc hcreby cunveyal uiuf hus�hc riblit to grant and
<br /> convey thc Property ancl thm �he I'roperty is unencumbereci, except for encumbr+mces of recorJ. Durrower wurrunts und will
<br /> defenci generally thn title to:he Froperty against nll cluims and demands,subject to any encumbrunees of record.
<br /> Tk#IS SECURITY INSTRUMBNT combincs unifomi covonants for nutiunnl usc und non-unif�+rm covenun�s with liniitcd
<br /> varlations by juricdicti�m to conctitute a unifomi�+ecurity instrument covering rcul propc:rty.
<br /> UNIFORM COVP.NANTS. Borrower und Lendcr covenant uixl ugrce ns follows:
<br /> 1. Payment ot Princip�l �nd Interest; Prepoyrnent And I.ttte CFuirges. Aorrower shull promptly pay when due thc
<br /> principai of and interest on 11iC debt avlJencecf by the Note nnd any prcpaymcnt and late charges due under the Nate.
<br /> 2, Ftindv tor Tpxes pnd Insurance. Subject to applicable law or to u written wuivar by Lender, Borrower sf�ull pay ta
<br /> l.c:ndei•an the day monthly paymcnts arc dnc undcr the Notc,until the Note is paid in full,a sum("Fundx")for:(a)ycarly taxcs
<br /> end assessments which may attain priority over this Security Instrument ns a I ien�n the Property;(b)ycarly leasehald paymentF
<br /> or around rents on the Praperty, if any; (c)yearly hazard or propeny insurance premiums;(d)yearly tl�d insurance premiums,
<br /> if e�iy: (e)yearly mortgage insurnnce premiums, if any; and (� any sums puyable by Borrower to I.ender, in accordance with
<br /> the provisions of paragraph 8, in liau of the payment of ir�vrtgage insurancc pmmiums.These itcros are called "Escrow Items."
<br /> I.cnder may, at any tlme, oollect and hold Funds in an am�ount not to exceed the mnximum amaunt a lender for a federally
<br /> related mortgage loun may roquire for Borrowcr's escrow account under thc federal Real Estata Settlement Procedures Act of
<br /> 1974 es amcndal from time to time, 12 U.S.C.Section 2601 et scq. ("RESPA"), unlcss anothcr law that applies to thc Funds
<br /> sets a lesser amount. If sn, Lender may, at any time, collect and hald Funds in nn amount not to exceed the Iesser amount.
<br /> Lcr��cr may cstimate the amattnt af Funds due on tho bas�s of surcent datn ancl reasonable estimates of expenditures of futuoe
<br /> Escruw Items or otherwlse in�ccuniance with applizable law•.
<br /> Tt�e Funds shail bc hcld In an institution whose deposits an, iasure�i by a federel egcncy, instrumentality, or entity
<br /> �Encluding Lender,if Lender is such an institutinn)or in auy Foderal Ho:ne Q..oan Bank.L.ender shall apply the Funds to pay thcs
<br /> F�ceov�ttems. Lender may not chuge Bo�rov�cr far hol�ling and wpplying the Funds,annuslly unalyzing the escrow account,or
<br /> t e�-;fying thc Escrow Itcros, unless I.ender p�•s�orrower intcrest on thc Funds and applicablc law permits I.ender ro make such
<br /> a c,fiflrga I{owevcr, I.ender may requirc Bnrro�vez to pay a one-time charge for an indcpendent reai estate tax nporting service
<br /> . .Ustd by Lender in connxHon with this #c�, unless epplicablc law provides otherwise. Unless an agrecment is made ur
<br /> , nQplicable law rcquins intcrest to be paid,i.c�der shall not be rcquired to pay Borrower any interest or carnings on the Funds.
<br /> Botrower end Lender may agra in writing, howcver, that intenst shall bc paid on the Funds. Lender shall give to$orrower,
<br /> wtiliwut charge, an annual accounting of the Funds, showing credits and debits to the Funds and the purpose for which each
<br /> �y:;t�tlie Funds�a�m..+��.T[+_e�„n�ic are�ledaed ac addidonal aecurity for all sums secured by this Socurity Instnimene.
<br /> If the Funds held by Lender axceod the amouna permitted to be held by applicebl�Inw, I.ender shell account ta Borro+ver
<br /> for the eacess Funds in accordarxe with the requirements of applicabla law. If tho amount of the Funds held by Lriidor at any. .
<br /> time is not su�cient to pay the Escrow Items when due,Lender mey so notify Borrower in writing,and,in such casc�otrower
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<br /> stu�it pey to i..ender �ne amuw�i �Kx:rssary iu 111uiic u� LI1G UGIK.IG111.y. uuuvwe. o.,Y.. ... .,�y .w,r ••�•+w.-
<br /> twolve monthly payments,at:ender's sole discretion.
<br /> Upon payment in full of all sums secured by this Securiry Instn�ment,L.ender shgll promptly rofund tq Horrowsr•any
<br /> Funds held by Lender.If,under pnregraph 21,Lendcr shall acquire or sell tho Property,L.endcr,p�ior to,tha acquibition or sale
<br /> of the Property,shal{epply any Funds held by Lender at the time of acquisition or sale ac a credit•agsirist the sums socured by
<br /> this 5ecuriry Instrument.
<br /> 3.Applkatba of P�ymwW.Unless applicablo IAw provida otl�crwise,all paymcnts reaived by L,ender und�ti p�uagtaphs
<br /> 1 �nd 2 shall be applied: first, to eny prepayment charges due under the Noto;s000nd;to emounts payable undcr pardgr+ph�2;
<br /> third,to interest dae;fourth,to princip�l duc;and last,to iu►y late charges duo under the Note.
<br /> 4. Char�ex;Lkns. Borrower shall pay all taxes,assessmsnts. churgcs,flnes and impositions attributAble to the Pr�perty
<br /> which may attain�priority over this Socurity Instrument, end Ie,aschold payments or ground rents, if any. Burrou'et shall pay
<br /> thave oblig�tions in the manner provided in paragraQh 2,or if nat paid in that manner,Horrower shall pay them��tii:t�me dicbcNy
<br /> to ths person owed payment. Hortower shell promptly•furnish�to i.ender all noticac of amounts to be paid under tl�i�'�ata8�•
<br /> If Horruwer makes these paymenu directly,Borrower shalt promptly fumish to L.ender receipts evidencing the pay'ments.
<br /> • Borrower shall promptly discharge any lien which has priority over this Security Instrwrnnt untrss Borrower: (�)agroes in
<br /> writing ro the payment of the obligation secured by the Hen in a manner acceptable to Lender;(b)contests in good faith the lien
<br /> by, or defends agalnst enforcema�t of the lien in, legal procetdings which in the I.ender's opinion operate to prCvent the
<br /> enforament of the lien;or(c)secures from the holder of the lien an agreement satiuf;tcfory to Lend�r subordlnating 2he lien to
<br /> this Security Instrument. If i.ender deterniines that any part of the Pro�erty is subJact to a lien which may attain pricirity over
<br /> this Socurity Instrumont, L�sndcr may give Borrower a notia identifying•the(ion. Borrower shall satisfy the licn or take one or
<br /> mon of the actiuns set forth above within 10 days of the giving of notice.
<br /> ' fonm 302t 9/80
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