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<br /> TOGETHER WITH all the improvoments now or hereafler erected on the property,and alT'e�menF�;���.�d �
<br /> Hatuns aow or bereafter a part of the property. All rcplxemeats and addltions shall also be covend by thts Securiry ..T�-
<br /> Instrument. All of ihG foregoing is referred to in this Security Instnunent as the"Property•" _
<br /> , .�.. BORROWER COVENANTS that Barrower fs lawfully sefscd of tde estate hanby conveyed and has the right to grunt and _,,.
<br /> . � convey the Propany and that the Property is unencumbered,except for encumbraaces of record. Borrower warrants aud will
<br /> . ..��.,,�*Mr defend generally th:tide to the Pcoperty against all claims arzd demazids.subject to any eacumbrances of recard. ___
<br /> •+..����p+ THIS SECURI'CY 1N51'AtUM�N 1 comdu�es uniiarm coveu,w��fu� nationat tis:. :nd nct�ualfotae co�tnsnts with limited � ;,_
<br /> vnrladons by jurisdictioa to constimte a uniform securiry instrwnent covedng real properry. • �_
<br /> UNIFORM COVENANTS. Borrower and I.cndcr covensnt and agree ag follows: __
<br /> 1. Payment o[ Princtpal sind Intaest; Prepayruent wd I.ate Chxrges. Borrower shali promptly pay when dua the __-
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<br /> prlucipal of and intecrst on the debt evidanced by tke Note aad aay prepayn�ent and late chazges due uader the Note. _
<br /> 2. Fbnds[orTaxes and It�surancc. Subject co appR�able law or to a wclttea walvcr by Lendcr, Borrower shall pay to .:�:
<br /> Lendor on thc dciy monthly paymants are dua undar t6n Nota.until the Note is paid in full. a sum("Funds")for:(a)yeazly taxes r'_=
<br /> aad assessmenta wluch may attaia p�Iority over this Secudry lasuum�nt as a lien on ths Praperty;(b)Year1Y lea�ehold paymeats �,
<br /> oc groand ceuta on tke Property.if any;(c)Yearly hazard or property insurance pnmiums: (d)Yearly tlood ins�raace pnmiums. s';'
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<br /> if any: (c)ycarly mongage insurnce psamiums, tf any; aad(� any suma PaYable by Borrower to Lender, in accordaace witb �.
<br /> . the provisiona of paragraph 8, in lieu of the payment of mostgage insurance premivms.'fhese items are caUa1'Esctow ltems." �,__
<br /> I.ender may, at any time,collect and hold Funds in an amount aot to eacxed tha maaimwn amoui►t a lender for a falerally _
<br /> relaud mortgage loan may require for Borrower's escrow aaounc under the federal Reat Estate Settlement Proceduc�es Act of t;_.
<br /> � � 1974 as amended from time to time, 12 U.S.C.Section Z6O1 es stq. ('RESPA"),wiless another law that applies to the Funds =,_
<br /> sets a less�r emount. [f so, Lender may, at any time, collect and hold Fuads in an amoune noc to excxed the lesser amouat. �_s�
<br /> Ltader may estimate the amonnt of Funds due on thr:buis of current data aad reasonable estimates of eapendttuns of fuaure —
<br /> Escrow Items or otke:wtse in acxordance with aPplicabla l�w.
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<br /> The Funds �hall be held in an institution whose deposiu are insured by a federal agency, instn�rnenceliry. or endty
<br />-, „ (lncluding L.end�r,if Lender is such an insdcutioa)or in aay Pcderal Home Loan Bazalc.Lender shall apply the Funds to pay the
<br /> Escmw Iums.L.eader aoay aot charge B�onawer for holding�nd applying the Funds. annuaUy aualyzing the escmw accouus.or
<br /> � _ yt��a�=Rer�nw$��,»nle.ct Lender nays Borrower iaterest on the Fuads and applicable law permits Lender w malre such
<br /> � a cbarge.However, Lender may require Borrower to pay a one-dme chazge for an indepandent real estate ta�c nportjng servict
<br />��-'��� � � used by L.ender ia conneccion with this loan, unless applkable law prnvides othenvise. Unless an agneemeat is made or
<br />�� appUcable law requires interest co be paid,L.ender shall not be requind to psy Borrower any iaurest or earninga on the Funds.
<br />�'•w���� .•�'� Borrower and I.endcr may agcee in writtng. however, that intenst shall be paid on the Funds. Lender shall give to Bomower,
<br /> wlthout charge, aa aanual accounting of the Funds,showing credtts and debits to the Fuads and ttte pucpose for which each
<br />{�.•,:s"'• debit to the Funda was made.'The Funds an ptedged as add.idonal secudty for all sums sxured by this Socurity Insttumeat.
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<br />�a�_-.�. If the Funds 6eld by I.ender exexd the amounts pemiitted to be held by applicable law. Lender shall acoount to mower
<br /> 1�"` '"�"" for the excess Funds 3n accordance wich the requinments ot appllcable law. If the amount of the Fuads held by I.ender at aay
<br /> � time is not suff cieat co pay the Escrow Items when due.Lcnder may so notify Bomnwer in writing,and.in such c�se Borrower
<br /> v�' . •�` shall pay to Lender the amount necessary to make up the deRciency. Borrower s6a11 make up the deficiency in no mon than
<br /> -. �:"•.•"�" . ts,at L.ender's aole discretion.
<br /> �;=- • , twelve monthlY PiY�n
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<br />�;.-;=a.^� iJpoa paymeat ia full of all sums secured by this Securiry Instnimeat, L,eader shall pmmpdy refund to rrower any
<br /> s::.-�,�j__"���' Funds held by L.ender.If,under paragraph 21,Lender shall�cquire or seU the Property,Lender,prior to the acqniaidoa or sale
<br />�"�"'r�`�ti':=• of the Property. ahall apply any Funda held by I.ender at ttie time of acquisitioa or sale as a credit agdnst the aums secured by
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<br /> -=� . . 3.Applicadon o[Payments.Unless applicable law provides atberw{se.all payments received by I.eader under paragcaphs
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<br />_�=.:, . 1 and 2 shall be�pplied:first, to any prepayment charga due under the Note;second,to amouats payable under patagraph 2;
<br />'.;-�►,;��=' • third,to interese due;fourth,to principal due;and last, to any late charges due under the Note.
<br /> ---"':s�-'�'- 4.Charges;Lieas.Borrower shall pay all taxes. assessmsnts,charges,finss and imposidons attributable to the Property
<br /> ��.;�;,;��� which may attain priority over this Securlty Instnuaent,aad leasebold paymeats or ground rents. if any. Borrowcr shall pay
<br /> — �:--:• these obllgations in the manner provide�in paragraPh 2,or If not paid in that m'mner,Borrower shall pay them on time d9sectly
<br /> -������ . to the person owed payment. Boaowtr shall promptly furaish to Lender all notir,es of emounts to be paid under this paragraph.
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<br /> , . . If Borrow�r maka these payments directly.Borrower sLall promptly fiunish to Lender receipts evidencing the paymenu.
<br /> _ � Borrower sh�ll promptly discharge any Iten which has prioriry over this Security Insaument unless Boaower:(a)agrees ia _
<br /> - � wrIting to tLe payment of the obligadon secured by the lien in a manner acoeptable to Lender;(b)coatests in gaod faith the U.en __
<br /> - by. or defeads egainst enforcement of the lien ia, legd proceeciing� which in the I.ender's opinion operate to prev.p.nt the �..
<br /> �. ' enforcement of the lien;or(c)socures from the holder of the lien an agrament satisfactory to Lender subordinating the lien to F_-.
<br /> ' ihis Security Instrument.lf Lender determiaes that aay part of the Proparty is subjea to a lien which may attain priority over
<br />-ti thia Sxarity Instn�ent.l.ender may give Borrower a aotiu identifying the lien.Borrower shall satisfy the lien or take one or - _
<br />_ more of the actions set forth above within 10 days of the giving of notice. �,-
<br /> - Form 3026 /90
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