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<br /> f T0CIETHER WITH all the im�ements now or hereafter erccted on the pro�,and all easements,appurtenances, and
<br /> tixtures now or hereafter a purt of the property. All replacements nnd additions shall also be covered by this Securiry ��.;'�}
<br /> � Instrumcnt.All of the forcgoing is ref rred co in this Securiry Instrun�ent as the"Property." � =;_=
<br /> BORROWER COVENANTS that Borrower iR lawfully selscd of the ostate hereby conveyed and has the right to grant and k�'=
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<br /> convey the Propeny and that the Propecty is unencumbered, except for encumbrances of recard. Borrower warrants and wi11 � . ,:�,;.;�
<br /> ..•�"" defend generaUy the tide ro the Properry against all claims and demands, subject to any encumbrances of record. ":�''-'"
<br /> � THIS SECURiTY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited ��-_'
<br /> vaziations by jutlsdiction to wnstitute a uniform securiry instrument covedng real property. .`•��•���`�f�
<br /> UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: � ,-- -°
<br /> 1. Payment of Principal and Interest; Prepaymcat and Late Charges. Bonower shall promptly pay when due the
<br /> princlpal of and interest on th�debt evidenced by the Note and any prepayment and late chazges due under the Note. '�._.�
<br /> 2. �tndv for Twces qnd Insuraace. Subject to applicable law or to a written waiv�r by Lender, Borrower sdall pay to ,;��::.•
<br /> Lender on the day monthly paymeats are due under the Note,undl the Note is paid in full,a sum("Funds")for:(a)yearly ta�ces __=-'"
<br /> and azsessments which may attain pdodty over this Security Instrument as a liea on the Property;(b)yettrly leasehotd payments '' �
<br /> or ground nnts on the Property, If any;(c)yearly hazard or property insurance premiums;(d)yearly fload insurance premiums, -_
<br /> if any; (e)yearly mortgage insurance premiums, if any; and(�any aums payable by Borrower to Lender,in accordana with
<br /> the proviaions of patagraph 8,in ltau of the payment of mortgage insurance premiums.These items are called "Escrow Items." -
<br /> Ltnder may, at any time, collect nnd hold Funds in an amount not to excc:ed tnC mazimum amount a lender for a federally � -
<br /> related mortgage loan may require for Borrower's escrow accounc undcr the fcderal Real Estate Settlement Procedures Act of -
<br /> 1974 as amended from time to time, 12 U.S.C. Section 2601 �t seq. ("RESPA"),unlcss another law that applies to the Funds �
<br /> sets a lesscr amount. If so, Lender may, at any time, collcet and hold Funds In an amount not to exceed the lessor amount. .-
<br /> ' Lender may estimate the amouat of Funds due on the basis of current data and reasonable estlmates of expenditures of future ' _
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<br /> � Fscrow Items or othenvise in accordana with applicable law. ,r�_
<br /> The Funds shall be held in en Institution whose deposiu aze insured by a faleral ageacy, instrumentality, or entiry
<br /> -J`� (including Lender.if Lendcr is such an institution)or in any Federal Home Loaa Baak.I.ender shall apply the Funds to pay the -
<br /> Escrow Items. I.ender may not charge Borrower for holding and applying the Funds,annually aaalyzutg the escrow account.or
<br />_ __=--- vcrifying rhe Escrow Items,unless i.ender pays Borrower interest an the Funds end appltcable law permits Lender to make such
<br /> a charge. However,Lender may require Borrower to pay a one-time chazge for an iadapendent real estate tax reportiag service � '
<br /> . used by Lender in connectioa with this loan, unless applicable law provides otherwise. Unlesa an agnement Is made or �`�=
<br />-� applicable law requises interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. =��
<br />" • Borrower and Lender may agree in writing,howe�cr,that interest shall be paid on the Funds. Lcnder shall give to Borrower,
<br /> :,, without chuge. an annual accountins of the Funds, showing credits and debits to ttie Funds and the pur�wse for whlch each =
<br /> .�,,. ._ debit to tho Funds was mad�.The Funds are pledged az additional securtty for all sums secured by this Securlry Instrument. =`�
<br />; • If the Funds held by Lender exceed the amounts permittecl to be held by applicable 1aw,I.ender shall account to Borrowee �
<br /> - , for the excess Funds in accordance with the tequiremeats of applicable law. If the amonnt of the Funds held by I.ender at any "
<br />���• time is not sufficieat to pay the Escrow Items when due,Lender may so notify Borrower ia wrIting,and, in such case Borrower
<br /> �� ���, shall pay to Lender the aznount nocessazy ta make up the deficiency. Borrower shall make up the deficiency in no mon than
<br />�'°';-���` • cwelve monthly paymeats,at Lender's sole diacretion.
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<br /> �_ � Upon payment in full of aU sums secured by this Security Insuumeat, Lender shall promptly nfiand to Borrower any
<br /> "'���� � Funds held by Lender.If,under puagraph 21, Lender shall acquire or sell the Pro �
<br />�-�t-•�,•��••� perty,Lender.prIor to che acquisition or sale
<br />��� ''' �' � of the Property.shall apply any F�mds held by Leader at the time of acqulsition or sale ac a credit against the sums secwed by
<br />� ��" this St�curity Instrument. _
<br /> x";.;;�;�_ � 3.Applicatlon of Pwyments.Unless applicable law provides otherwise, all payments received by I.ender under pazagraphs R_
<br /> — 1 and 2 shall be applied: first,to any prepayment charges due under the Note;second.to amounts payable under paragraph 2; �:--
<br />=�" '.' ' third,to interest due; fourth,to principal due;and 1asc,to any tate chaz�es due under the Note. ��-:.
<br />��� 4.Charges; Ueng,Horrower shall pay all taaes,assessments, charges. fines and impositions ataibutable to the Property ;�=�
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<br /> _ ��.� � whic2i may attaia pdority over thia Sec�uity Insuument, and leasehold paymen�s or ground rents, if any. Borrower shall pay �-"�
<br />�"-"�r:� ' these obligations in the manner provided in paragraph 2,or if not paid in that manner,Borrower shall pay them on time direcdy _
<br /> _ -. to the peraon owed payment.Borrower shall prompdy furnish to I.ender all notices of amounts to be paid under this paragraph. --
<br />�� . . If Borrower makes these payments directly, Borrower shall promptly fumish to Lender receipts evidencing the payments.
<br /> -r.� Borrower shall promptly discharge any ltea which has pdority over this Security Instrument unless Borrower:(a)agrees in ,�•�'-±
<br /> writing to the payment of the obligation securod by the lien in a manner acceptable to Lender;(b)contests in good faith the liea
<br /> - by, or defeads against enforcement of the lien in, legal proceedings which in the I.ender's opinion operate to pnvettt the "�a-
<br /> ' enforcemrnt of the lien;or(c)secures from the holder of the 11en an agrament satisfactory to Lender subordinating the lien to �'�—.
<br /> this Security Instrum�nt. If Lender determines thae any part of the Properry is subject to a lien which may attain priodty over • `�
<br /> - this Security Insuvment,Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or talce one or ":'��„_
<br /> � more of the xtions set focth above within 10 days of the giving of notice. '`��;__
<br /> � Form 3028 9/90 '• -�
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