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<br /> � Tn(CF.'fHF.R WI'PH .�II th�impn�vemcm+now or hereafter erectod on the property,:�nd;dl catiemcnt�f�pu�nU�s. und _
<br /> - . ' fixtures now or herenfter a pxrt of ehe prnpe�Yy. All replacements and udditions shall ulso be covered by this Securiry
<br /> ,:}�3 Instrument. All of thc foregoi�ig is refcrred tu in thi,Sccurity Instrument us thc"Property."
<br /> ;! BORROW�R COVENANTS thai &�rrower is luwfully seiscci uf thc�:state hereby conveyed und has thc right tu grant and
<br />=,� convey the Property and that the Propeny is unenrumhered, except f'or encumbrances uf record. 8orrower warrantx und will
<br />_�- ' defend generally the tide to the Property again�t ull claims und demands,subject to any encumbrances of recc�rd.
<br /> :� THiS SECURITY INSTRUMENT combincy uniform covenants for national usc and non-uniform covenunts with limitcxl
<br /> - vuriu[ions by jurisdiction to constitute a uniti�rm security instrument covering real property.
<br />_ UNIFORM COVENANTS, Barrower und l.,ender covenant and agree as foUows:
<br /> L Payment of Prinripal and Interest; Prtipayment and L.uto Char�es. Borrower shall pr�mptly pay when duc thc
<br /> �' ��� principal of nnd intcrest cm the debt cvidcnrcd by the Nntc und uny prepaymcnt und lutc charges due under the Note.
<br /> ?'' `''� '� 2. Funds for Tax�and Insurance. Subject to upplicuble law or tn a written waiver by L.ender. Borrrnver shall pay to
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<br /> L.cnder on the day monthly payments are due undcr the Note,until thu Note is puid in full,a sum("Funds") for: (a)ycur y taxes
<br /> � � � uoJ usse.rsments which mny attain priority ovcr this Securit�Instrument as a lien on the Propeny; (b) yearly Ieasehold payme�ts
<br /> or ground rents on the Property.if any; (c) yeurly ha•rard or propt:rty insurance premiums;(d)yearly flood insurunce premiums,
<br /> _.'�r'""`�'.��`' if any; (e)yearly niartguge insurance premium+, if uny; and (�any sums payAble by Borrower to Lender, in accordance with '
<br /> � „=�� the provisions of puragraph 8, in lieu of the payment of mongage insurunce premiums. These items are called "Escrow Items."
<br />'�":•iti�`*t'' L.ender may. at any time,collect and hold Funds in an amount not ta exceeci the maximum amount a lender for a federally
<br />�,�:��• related mortgage loan may reyuire for Borrower's escrow account under the federal Real Estate Settlement Procedures Act of
<br /> -"�+" =.' - 1974 as amended from tinic to time, 12 U.S.C. Section 2601 e�srq. ("RESPA"), unless another Inw that applies to the Funds
<br />��57�•1"�� sets a lesser amount. [f so, Lender muy,ut any time, collect und hold Funds in an amount nat to exceed the lesser amount.
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<br />�r�� Lender may estimate the amount of Fands duc on the busis of current datu and reationablc estimates of cxpenditures of Tuwrc
<br />_��?_�:�� Escrow Itcros or otherwisc in accordancc with upplicablc law,
<br />�,,�� The Funds shall be held in an institution whose deposits arc insured by a fcderal agency, instrumentality, or entity
<br /> � __ (ir�ludistg i.cndcr, if Lcnd;:is s�Cll»!2 !^Sil!!!llnql nr i�t any Federal Home Loan Bnnk. l.ender shall apply thc Funds to pay the
<br /> �,.�,t°���� Escrow Items. l.endcr may not charge Borrower for holding and upplying the Funds,annually analyxing the escrow account, or
<br /> -�•'•� verifying the Escrow Items,unless Lender pays Donower interest on the Funds anJ applicable law permits Lender to make such
<br /> ��"°-'�'�� a charge. However. Lender may require Bonower to pay a one-time charge for un independent real estate tux reporting service
<br /> used by Lender in connection with this loan, unless applicable law provide� otherwise. Unless an ugreement is made or
<br /> ° applicable Inw requires interest to bc paid, Lender shall not be required to pay Borrower any interest or earnings on the�unds.
<br /> Borrower and Lcnder may ag�ee in writing, however, thut intcrest shall bc puid on the Funds. L.ender shall give to Borrower,
<br /> --� —" without charge, un annual nccounting of the Funds, showmg cred�ts and ciebits to the Fuuds and th� puipose for which w�li
<br /> debit to the Funds was m•rde. The Funds are pledged as additionul security for all sums secured by this Security Instrument.
<br /> If the Funds held by Lender exceed the amounts permitte�i to be held by applicable law,Lender shall account to Borruwer
<br /> for the excess Funds in accordance with the requirements of applicable Inw. If the amount of the Funds held by L.ender nt any
<br /> time is not sufficient to pay the Escrov� Iiems when due.Lender may so notify Borrower in writing,and,in such case Borrower
<br /> shall pay to i.ender the amount necessary to make up the deficiency. Borrower shnll make up the deficiency in no more than
<br /> twelve monthly payments,at Lender's solc discretion.
<br /> - -•-�- Upon payment in full of all sums secured by this Security Instrument, C.endcr shull promptty refund to Borrower any
<br />�— Funds held by Lender. If,under paragraph 21, L.ender shall s�cquire or sell the Propeny, Lender,prior to the acquisition or sale
<br /> -- = of the Property,shall upply any Funds held by L,ender at the time of acquisition or sale as a credit ugainst the sums secured by
<br />,�,,..�. this Security Instrumcnt.
<br /> 3.Applicatlon of Payments. Unless applicablc luw provides otherwise,all payments received by Lender under paragraphs
<br /> -- I and 2 shall be applied: first, to any prcpayment charges duc under the Note: sccond, to amounts payable undcr paragraph 2;
<br /> third,to interest due;fourth, to principal duc:und last,to any late charges duc under thc Ivote.
<br />���� 4. Charges; L!ens. Dorrower shall pay all tnxes,ussessments, charges, fines and impositions attributablc to the Propc�ty
<br /> _= which may attain priority over this Security Instntment, and Ii;aseholJ puyments or graund rents, if any. Borrower shall pay
<br /> ---_�--�--�.� these obligations in the manncr provided in paragraph 2,or if not paiJ in that munncr, Borrower shall pay thcm on time directly
<br /> �;�,�� to thc penon owed payment. Borcower shall pirmptly furnish to Lendcr all noticcs of amounts to be paid under this paragraph.
<br />___.., — If Borrower mukes thesc payments direcQy. Borrowcr shall promptly furnish to L.ender receipts evidencing the payments.
<br /> _ W'Y� Borrower sh311 promptly discharse any lien whirh has prioriry over this Securiry Instrument unless Bonower: (a)agrecs in
<br /> E`�`''' ^-'_� writing to the payment of the oblisation securui by the lien in a manner acceptAbie to I.ender;(b)contests in good faith the lien
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<br /> �,;�.V,��- by, or defends against enforcement of the lien in. legul proceedings which in the C.ender's opinion operate to prevent the
<br /> `�-•_��'�-�.4 enforccment of thc licn; or(c)sccurcs from thc holdcr of the licn an ugrcement sutisfuctory to Lender suburdinati��g the licn w
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<br /> .��,.,,� this Securiry Instrument. if Lender dcAermines that any pan of the Property is subject to a tien which may attain prioriry over
<br /> `==�,w,j�►"��.,`'� this Securiry Instrument, Lender may give Borrowrr u notice identifying the lien. Bormwer shall satisfy the lien or t;ilce one or
<br /> ���Sti,�'�i��'� morc of thc actions sct forth ubove within 10 days af thc giving of notirc.
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<br /> _=:,:��.`� Form 3028 9/90
<br /> '"`:�"i. Papo 2 of 6
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