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<br /> T0CIETHER WITH nll the improvements n�w or hercafter eroctod on the proprrty,and nll easements, uppurtenances,and
<br /> fixtures now or herwftor a part of the property. Atl replacements ar�d additions shell nlso be covercd by this Securlty
<br /> I��trument.All of the foregoing is raferrod to fn this Security Instrument ati the"Property."
<br /> BQRROWER COVENANTS that Bo�r4wer is Iswf'ully sciseJ of the cstate hereby conveyed and hag thc right to grant and
<br /> convey the Property and that the Property is unencumberod,except for encumbrances of rccord. Bormwer warran�9 and will
<br /> defend generally the tltle to the Property aguinst all clairns and demunds,subject to sny encumbrances of record.
<br /> THIS SECURITY INSTRUMENT combines uniform covenan�s for national use and non-uniform cavenant�v with Iimited
<br /> vadattons by jurisdiction to canstitute a uniform security irstrument covering real property.
<br /> UNIFORM COVBNANTS. Horrower and Lender wvenant and agree as follows:
<br /> 1. Payment ut Princip�l s�nd Interest; Prepayrnmt xnd Late Charges. Borrowcr shall prnmptly pay when due the
<br /> principal of and inten:st on the debt evidencod by the Note aad any prepayrnent and latc charges du�under thc Note.
<br /> 2.Funds tor Tsuces nnd Insurance. Su�ject to applicuble fuw or to e written waiver by Lender.8orrower shall pay to
<br /> I.ende�on the day monthly payments are due under the Note.until the Note is paid in fWl.a sum("Funds') for:(a)yearly taxes
<br /> and assessments which may attain priodty over this Security Instnmmnt as a lien on d�e Property;(b)yearly feasehold paynKnts
<br /> or ground rents on the Property. if any;(c)yearly hazard or property insurance premiums;(d)yearly flood insurance pr�emituns,
<br /> if any; (a)yearly mortgage insuranee prcmiums, ff eny;an�l(�any r,ums�Syable by Bomnwer to Lendcr, in accordana v►�th
<br /> the provisions of paragraph 8.in liw of the payment of mortgage insurnnce premlwns.These items ar�called"Escrow Items."
<br /> Lender may, at any time,collxt and hotc! Eunds in an aaiount not to exceed the maximum amount a lender for a federally
<br /> related mortgage loan may cequire for Bnrrower's escrow account under the federal Real Estate Seulement Procodures Act of
<br /> 1974 as amendod t�om time to time, 12 U.S.C. Section 2601 et seq. ("RFSPA").unless aaother law that appllr,�to the Funds
<br /> sets a lesser arnount. If so, Lender may. ut any time. collect and hold Funds in an amount not to excxed the lesset amount.
<br /> I,ender may estimate the amount af Funds due c.n d�e basis of wrrcnt data and reasonable estimates of expen�itnres of future
<br /> Escrow It�ms or othenvise in accorda�ce with appGcable law.
<br /> Thc Fuads shall be held in an institutton whose deposits are insured by a faleral agency. tnsuumentaltry, or entity
<br /> (including I.ender,if i.ender is such an insutution)or in any Foderal Home L.oan Bank.Lender shall apply ttie Funds to pay the
<br /> Escrow Itemc. Lender n�ay not chuge Borrower for holdtng and applying the Funds,annually analyzing the escrow eccount,or
<br /> y��,;���R�r��w itrmn; nnl�cc Itrder Qays Snrmwer iaunst on the Funds and applicable law pemxits�..eador to make such
<br /> a chuge.,klowever.Lender may rtquire Borrower to pay a one-time charge for an independent real est�te.�tu�reportiag scn+ioe
<br /> usod by Lender in connection with this loan, unless applicable law provides otherwise. Unless •rn a�zcemenc�s m�cte or
<br />- applicable law requires intcrest to be paid.Lender shall not be roquirc,d to pay Borrower any interest or earnings on ihe Funds.
<br /> Borrower and I.ender may agrce ln writIng,howcver. that interest shaU be paid on the Funds. I.andcr shati gtve to Horrower,
<br /> without chsrge,an an�ua!acooundng of the Funds,showing crodits azM debits to the Funds and the purpose for which each
<br /> debit to the Funds was made.The Ftiiid.g are pledged as additlonal security for�Il sums secured by this Security Iastnirt�ent.
<br /> - if the Furds held by L.ender ea+cced the anxwnts permitted to bc held by epplicable law.Lender shall aocount to Borrower
<br />- for the excess Funds in accordance with tt�e requirements of applicable law. If the amount of ttie Funds held by Lender at any
<br /> - dme is rwt sufticient to pay the Escrc�w Items when due,Lender may so notify Borrower in writtng.and,in such case�orrower
<br /> shaU pay to Lender the amount neor.ssary to make up the deficlency. Borrower shall make up the deficiency in no mon than
<br /> = twelve monthly pavments.at Lender's sole discretion.
<br /> Upon payment In full of all sums secured by this Socurity Ir►snvment, L.ender shall promptly ntund to Bomower any
<br /> Funds held by Lender.If,ur►der paragraph 21.L.eider shall acquire or sell the Property.I.ender.prior to the ecquisiNon or aale
<br /> � . of the Propercy,sh�ll apply any Funds held by Lender at the dtne of acqulsition or sale as a crodit agaiast thc swns secura!by
<br /> � this Securiry Iostrument.
<br /> f 3.Appliatlon of Pxyments,Unless applicablc law providas otl�envise,all payments roceived by [�ender under paragraphs
<br /> ' 1 ard 2 shall be appliod:first,ta any p�+epayment charges due under the Note: second.to amounts payable wider paragraph 2;
<br /> thi�,to intercst due:fc�urth,to principal due;and last. to any late chazges duc under the Note.
<br /> 4.Cl�ea; Ldens.Borrower shall pny al� taixes. assessmcnts.charges.fines und�mpositions atuibutable to the Propecty
<br /> which may attain prioaty over this Securiry Instrument,and leasehold payments or ground rents, if wny. Bornower shall pay
<br /> - thcse obligations in thc manner provided in paragraph 2,or if not paid in.that manner,Bomnwer shati pny them on dme diratly
<br /> -;� tn d�e porson owod payment.Borrower shall promptly fumish to L.cnder all notices of amounts to be psiid under this paragraph.
<br /> :� If Barroiver malces these paymenu di ratly.Borrower shall prompdy furnish to Lender roceipts evidencing the payma�ts.
<br /> ;ti Horcower siwll promptly discharge any lien which has prior�ry over this Security Insttument unless Borrower:(a)agnoes in
<br /> -" wtiting to the payment of the obligation secut+ad by the licn in a manner acceptc�blc to Lcnder;(b)contests in good faith the lien
<br /> � by. or defencls again�t enforctment of the lien in, legul proccedings which in the I.ender's opinion operate to prevent the
<br /> . enforcement of the lien;or�c)secures from the holder of the lien an agrcement satisfactory to Lender subordinating the lien to
<br /> , this Security Instrument.If J.endcr determines that any part of thc Propcny is subject to a lIen which may attaiu pdority over
<br /> '; this Security Instrument,L.emier n�y give Boirowet a notice identifying the lien. Borrowcr shall satisfy thc lien or take o�tie or
<br /> imore of the actions s�t forth above within 10 days of the giving of natice.
<br /> i Farm 9029 8/80
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