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<br /> TOGBTHER WITH ull the improvements now or herettfter erected on the propeny,and ull easements, uppurtenances, and
<br /> fixtures now or hereafter u part of thc propen}•. All replucements nnd additions shall also be covered by this Security
<br /> lnstrument.All of the foregoing is refer�ed tu in this Security Instrument us the"ProFx;rty."
<br /> BORROWER COVENANTS thnt 8orrower is luwfully seiscd of the cstute hcrcby canveyed und has the right inbrnnt und
<br /> conve;• the Property and that the Propeety is unencumbered, except For encumbr.mces of record. Borrower warrams and will —
<br /> defend generully the tide to the Property agninst alt claims und demands,subject to any encumbrances oF record.
<br /> THIS SECURITY INSTRUM�NT combincs uniform covcnants for natianul use nnd non-uniForm covenunts with limited
<br /> variatii�ns by jurisdtction to constitute a unifann security instrument covering real praperty.
<br /> UNIFORM COVENANTS. Borrowcr and L�:ndcr covenant and ugrcc us follaws:
<br /> 1. Payment of Principal and Interest;Prt+epayment and Ls�te Charges. Bnrrower shall prompdy pay whcn due the
<br /> principal of and interest on the debt evidc�nceci by the Note nnd any prepayment nnd late charges due under the Mote.
<br /> 2. �nds for TAxes and Insurance.Subject to applicablc luw or to u written waiver by Lender,Borrower shall pay to
<br /> Lender on the duy monthly payments ure due under the Note,until the Notc is paid in full,a sum("Funds")for:(a)yeurly tsixes
<br /> and assessments which may uttain priority over this Security Instrument us a lien on the Propeny; (b)yearly leusehold payments
<br /> or ground rents on the Prapeny,if any; (c)yearly hnzurd or property insurance premiums;(d)yearly flood insuranccpremiums,
<br /> if any; (e)yearly mortgage insurunce premiu,�is, if any;a�id(�any sums payable by Battower to Lender, in accordance with
<br /> the provisions of puragraph 8, in licu of the paymeat of mortguge insurancc premiums. Thesc;items are called"Escro�v Items."
<br /> Lender muy, at uny time, collect and hc�ld Funds in an umoun� nat to exceed the muximum amount n lender for a tiederally
<br /> related mortgage loan may reyuire far Sortnwer's esrrow account under the federal Real Estate Settlement Procedures Act of
<br /> 1974 as amcnded fram time to timc, I? 31.5.C.Section 2601 er.req. ("RESPA"), unless another law that applics to the Funds
<br /> sets a lesscr mnaunt. If so, Lender may,a� an�• time, collect and hold Funds in un amount not to excet:d the lesser amount.
<br /> L.ender mfly estimate the amount of Funds duc on the basis of curcent data erd reasonable estimates of expenditu ra of future
<br /> Escrow Items or�therwise in accordance with applicable law.
<br /> The Funds shall be held in an institution whose deposits nre insured by A federal agency, instrumentality,or cntity
<br /> (including I.endcr,if L,ender is such an institution)or in nny Federal Home I,oan Bank. Lendcr shall upply the Fundsco pay the
<br /> Escrow Items. L.ender may not charge Borrower Cor holding and applying the Funds,unnualty analyzing the escrow xcount,or
<br /> verifying thc Escrow Items, unless I..ender pays Borrawer interest on the Funds and applicable law permits L.ender to make such
<br /> a chnrge. Howevcr, Lender may rec�uire Borrower to pay a one-time chnrge f'or an independent real estate tax repo�ing service
<br /> osc.� by Lc'rdc�' in canzH.tian cctth thi.laaa, urt�ss uppli�abl� iaw p�ovi:tcs otY��-wi�. U�ii�� au agrc�:rnrni ie rnaJe or
<br /> applicuble luw requires interest to be paid,l.�:ndcr shall not be required to pay Borrower uny interest or eurnings on the Funds.
<br /> Borrowcr and Lender may Agree in writeng, howevcr, that interest shall be paid on the Funds. L.ender shall give toBonov�er,
<br /> without chargc. an annual accounting of�he Funds, showing credits and debits to the Funds and the purpose for which each
<br /> debit to the Funds was made. The Funds Are pledged us additional security for all sums secured by this Security Instiument,
<br /> If the Funds hcld by I.endcr excoed the anwunts permitted to be held by applicable law.L,ender shall account to Bonowcr
<br /> for the excess Funds in accordsnce �vith the requirements of applicable law. If the umount of the Funds held by L.ender at any
<br /> time is not sufficIent to pay the Escrow Items when due,Lender may so notify Horrower in wrltir�g,nnd,in such caseBonower
<br /> shell pay to L,ender the nmount necessary to make up the deticiency.Bonower shall make up the deficlency in no more than
<br /> twelve monthly paymen�s,at Lender'ssolediscretion.
<br /> Upon payment in full of all sums sesured by this Security Instrument, Lcnder shall promptly refund to Sorrawcr any
<br /> Funds held by L.ender.If,under paragraph 21.Leadcr shall acquire or sell the Property,Lendcr, prior to the acquisi8on or ssle
<br /> of the Property, shall npply any Funds held by l.�:nder at the time of acquisition or sale tu a credit against the sums secured by
<br /> this Securiry Instrumcnt.
<br /> 3.Applicatf�n of Payments. Unless applicuble law provides otherwise,all payments received by Lender underparagraphs
<br /> 1 und 2 shall be applied: first, to any prepaytnent charges due undcr the Note; sccond, to amounts payable under parasraph 2;
<br /> third,to interest due; fourth,to principal due; and lust,to any late charges due under the Note.
<br /> 4. Charqes;Licns. Borrower shall pay all taxes, assessments, charges, fines and impositions attributuble to t6c Property
<br /> which may uttain priority over this Security Instrument, and leasehold payments or ground rents,if any. }3onower shall pay
<br /> these obligations in the manner pravidai in paragraph 2,or if not paid in that munner,Borrowcr shall pay them on time directly
<br /> to the person owed payment. Borrnwer shnll promptly fumish to Lendcr all notices of amounts ro bc paid under this paragraph.
<br /> If Borrawer makes these payments dimctly,Barrower shall promptly fumish to Lcnder receipts evidencing the payments.
<br /> Borrower shall promptly Jischarge any 1 ien which hus priority over this Security Instrument unless Borrower: (a)agrees in
<br /> writing to the payment of the obligation secured by tlte lien in u munner acceptable to Lender;(b) contests in gaxi faith the lien
<br /> by, or defcnds uguinst enforcement of the lien in, legal prnccedings which in the Lender's opinion operate to prevent the
<br /> enfarcement of the lien;or(c)seruros fram¢he holder of the lien an agreement satisfactory to Lender subordinatir�gthe lien to
<br /> this Securiry Instrumcnt. if Lender detcrmines�hst any part of the Property is subject to u lien which may attain priority aver
<br />' this Security instrumcnt, L.endcr may givc Borrowcr n notice identifying the lien. Borrower shall satisfy the licn or iake one or
<br /> more of the actions set forth atwve within ID days of the givins of notice.
<br /> Fosm 9028 9l90
<br />' page 4 nf B
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