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<br /> 1 TOOETHER WITH nll thc improvcmcnt�now un c�rawf�cr crcctcd on �hc property, and all cascrtl�nTs,ap�pZ3 ces,and
<br /> i fixtures now on c�rcttftcr u psut of thc property, All rcpluc:crncn�ti und ndditions shall alsa bc covcred by this Security Instrument. _
<br /> •� AU of ihc forcgoing iy rcicrrcd U�in ltiis Socurity Intitrument ar thc"Property." ,
<br /> BORROWGP.COVENANTS thnt tlarrcnvcr iy Inwfully scitic�l of thc estatc hcreby canvcycd and has thc right to grant and
<br /> � convey thc Propcny and thut the Pr�pcny is uncncumbcrcQ,exccpt far encumbranccs of re�ord. Borrowcr warrants and will ,.�-
<br /> � ' defend�enerally tt►e title to the Praperty agui�ist ull clnlms und demands,hubject ta any encumbrances of record.
<br /> � � ,� � THIS SECURITY INSTRUM�NT combincs uniform cavcnan4w for nauonal usc and non-uniform covenants with limitcc!
<br /> variadons by jurisdicUon to constitute u uniform security inruument covering re,�l praperty. ,
<br /> ,I (IIVIFORM COVENANTS.Bnttawcr und L.cndcr cavcn�nt nnd agrcc ns follows: , • 4,_;, ._,%�-:=
<br /> 1.Payment of Principal and Interest; PrepAyment�nd I.ate Charges. Borrowcr shall promptly pay when duc thc :.:.,,.�:�,,;,>u
<br /> principal of and interest on the debt evidenced by the Nau;und any prepuyment and late charges due under the Note. • �•�•� � "_'`�=-
<br /> � .%��t� :�i;�.�
<br /> ' ;,s 2.Funds fur Twces And Iasurance. Subject ta applicable Inw or to a written waiver by Lender, Bonower shall pay to . ;;,,,�;�
<br /> . � Lendcr on the day monthly paymcntv arc duc undcr ihc Notc,unUl�hc Note is paid in full,a sum("Funds")for: (a)ycarly taxes �
<br /> �' �.��.'� and assessmcnts which may ausin priority ovcr this Socurity lnstrumcnt a5 a lien on tha Property;(b)ycarly ieaschold payments ;
<br /> " . ;1.' or ground rents on thc Property,if any;(c)yca�rly hw.urd or propcny insurancc prcmiums;(d)ycarly flood insurancc premiums,if ' ;��;--
<br /> � any; (e) ycerly mortgagc insurance prcmiums, if nny;and (0 any sums payable by Borrower to Lender,in accordance with the , •���,_�;•:_
<br /> .���" � provisions of paragreph 8, in lieu af the puyment of mortgage insurance premiums. These items are called "Escrow irems." `.',:�;
<br /> Lender may,at any tlme,collcct end hold Funds in un tunount nat la cxcccd Ihe maximum amount a lendcr far a federully related : '��,.__
<br /> ':��; mortgage loan may require for Borrawer's escraw account under the federnl Real Estato Seulement Procedures Act of 1974 as ?;.���_._
<br /> � � amcnded from dmc to umc, 12 U.S.C.Sceuon 2b01 er sep. ("RESPA"),unlass another law that applies to thc Funds scis a lesscr ,.��,�r
<br /> ' :...,����' amounG If so, Lendcr may, at any dme, collcct und hold Funds in an amount not to exceed the lesser amount. Lender may ..��.���
<br /> • estimate the amount of Funds duc on the basis af currcnt data and re,�sonablc cstimatcs of cxpenditures of futwe Escrow Items or ..�,
<br /> ' otherwisc in accordancc with applicabic law. ' ''� ,--...
<br /> �'��, The Funds shall be held in an insdtuuon whose deposi�v are insured by a federal agency,inswmentaliry,or endty(including ��'_� �:�
<br /> l.ender, if I.ender is such an institudon)or in any Fcdcrul Homc Loan Bunk. Lcndcr shaU apply the Funds to pay the Escrow ,����^�^
<br /> � Items.I.ender may not charge Bortower tor holding nnd applying the Funds,annually analyxing the escrow account,or verifying '`•�5i�.
<br /> ��� the Escrow Itcros,unless Lcnder pays Borrowcr intcrest�n 1ha Funds and applicablc law permits Lcndcr to make snch a charge.
<br /> �� However,Lender may rcquuu Boiruwe�ttf p�y a anc-tissts�hasSe for an is!de�tld!'nl rral�ctatr.wx re�rtin¢ serviee uted by '��`i:�J�!-
<br /> . " � Lender in connecuon with this lonn,unle�s applicablo law provides nlherwise. Unless an agreement u made or appUcable law , w.�-
<br /> requires interest co be Paid.1-ender shall not bc requircd to pay Borrowcr any intcrest ar carnings on the Funds. Borrower and ��'�"�_
<br /> . � � Lender may agree in wridng,howcvcr.that intcract shell bc paid on thc Funds.I.cndcr shell givc to Sorrowcr,without charge,an -_ _
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<br />. " ennual accounting of the Funds,showing credits and debi�s to the Funds and the purpose for which each debit to the Funds was '
<br /> • . . � made.The Funds ere pledged as addidonel securiry for all sums sccured by this Security Insuument. _ - -_
<br /> If the Funds hcld by Leadcr excced thc amounts permitud tq bc hcld by applicablc IAw,Lcrtdcr shell account to Bonower for
<br /> the excess Funds in accordance with the requirements of applicable law.lf the amount of the Funds held by L.ender at any pme is
<br /> not sufficient to pay the Escrow Items when duc,Lender may so notify Borrower in writing,und,in such case Boaower shall pay
<br /> ' to L.ender the amonnt necessary co mekc up the deGciency, Borrower shall make up U�e deGciency in no more than twelve
<br /> � ;;: monthly payments,at I.ender's sole discreuon. __
<br /> Upon payment in full of all sums socured by this Sec;urity Insvumcnt, Lcnder shall prompdy rcfund w Borrowcr any Funds
<br /> .,-. � held by Lender. If,under paragraph 21,Lender shall ac4uire or scll the Property,Lender,prior to the acquisition or sale of the
<br /> Property, shall epply any Funds held by Lender at thc timc of acquisition or snlc as u crcdit aga:nst the sums secured by this
<br />- Securiry InstrumenG �
<br /> J 3.Applicution of Payments. Unless applicable law providcs othcrwise,all paymcnts reccived by Lender under paragraphs _.
<br />= 1 and 2 shall be appGed: firs4 to any prepayment charges due undcr thc Note; ucond, tc�nmoun�v payable undcr paragraph 2; �
<br /> - � third,to interest due;fourth,to principal duc;and last,w any late charges due undcr thc Nota �
<br /> _ '. , 4.Charges;Liens. Borrower shall pay all taxes,assessmcnis, charges, finc;s und impcfsiuons attributxblc w the Property __ --`-�v—
<br />_ - �, which may auain priority over this Security Instrument,end kaschold paymcnt.ti nr graund renls,if any.Borrowcr shrJl pay these �= .-
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<br /> obligapons in the manncr providetl in pazagraph Z,or if not paid in that menncr,Banowcr shall pay thcm on ume direcdy to the "'"'�°---
<br /> 1-F ' , person owed paymenc Borrower shall prompdy furnish to Lendcr all nouc�s of iunounis to be paid under this paragraph. If � '_�„�°`�`
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<br /> • � : Borrower makes these payments direcUy.Borrower shall prompdy furnish to Lender receip4�evidencing the payments. :����,����.;
<br /> - ' Bonower shall prompdy discharge any lien which ha.s prioriry ovcr this Sccurity Inc;uumcnt unlcss Iiarrowcr: (a) agrecs in :<`:�»',�� '•.i,�r;
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<br />' writing to the payment of the oUligauon secured by the lien in a manner acceptnble tc�Lender,(b)contests in good faith the lien .;,',ti� { 5`;,�_..
<br /> � by, or defends against enforcement of the lien in, iegal proceedings which in U�e l.ender's upinion operate eo prevent the ;+����_ , �?'..'`•�;;.,
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<br /> enforcement of thc licn;or(c) secures Gom thc holdcr of thc licn an ngrccmcnt sntis[uctary to l.cndcr subordinadng thc lien to y ...,�;..
<br />- this Securiry Inswmcn�If Lender determines that any parc of thc Property is subjcct w a licn which may ntiain priority ovcr this � ��`P"?��'a.'�;�}n:;�..
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<br /> Secwity Instrument,Lender may give Borrower a nouce idc�dfying �he lien.Bc�rrower shull u►tisfy thc licn or Wke one or more �'. ,'.;�x,,a,t;,�,
<br /> � of the actions set forth above within 10 days of the giving of noticc. , ;, :;;
<br /> . Form 3026 9/90 , ' ' ``,
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