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<br /> TOOE fH�R W1TH all the improvements now ar hereafter erectcd on the propeny,•und ul�c�fic1C3!.�ip�ftenunccs,und
<br /> fixtures now or hereufter a pan of the praperty. AU replucements and udditions shull ulso be covered by this Security ;
<br /> Instrument.All c�f thc farcgoing is referrcd to in this Security Instrument as the"Property." �
<br /> HORROWER COVENANTS thnt Borrowcr is lawfully seised of the estute hercby canveyed und hus thc right to grant and
<br /> comcy the Pro�xrty and thut the Froperty is unencumbere�,except for encumbrunces af record. 8arrower warrunts und will
<br /> defend generully the title to the Praperty aguinst ali claims and demunds. subject to any encumbrunces of record.
<br /> THIS SECURITY INSTRUMBNT cambines uniform covennr►ts for nutional use and non-uniform covenants wlth limited
<br /> variations by jurisdiction ta constitute a unifarm security instrument covering reul proptny.
<br /> UNIFORM COVENANTS.Borrower nnd Lender covenant und agree us follows:
<br /> 1. Payment ot Prtnclpal and Interest; Prepayment und Late Charges. Borrowcr shall promptly pay when duc the
<br /> principal of and tnterest on the debt evidenced by the Note and any prepayment unci late chazges due under the Note.
<br /> 2. �nds for Twces and Insurance. Subject to applicable law or to a written watver by l.ender. Borrower shuU pay to
<br /> Lcnder on the day monthly payments are due under the Note.until the Notc is paid in full,a sum('Funds")for:(a)yetirly taxes
<br /> and assessments which may nttain priority over thls Securlty Instrument as a lien on the Property;(b)yearly leasehold paymenu
<br /> or ground rents on the Property,if any;(c)yearly hnzard or property lnsurance premiums:(d)yearly flood insurance premiums,
<br /> if any; (e)yearly mortgage insurance premiums, if any;and(fl any sums payable by Bonower to I,ender, in accorJance with
<br /> the provisIons of paragraph 8. in licu of the payment of mortgage insurance premiums.These items are called "Escrow Items."
<br /> L.cndcr may, at any time. collcct and hold Funds in an amount nat ta exceed the maximnm amount a lender for a federally
<br /> relnted mortgage loan may require f'or Bonower's escraw aceount under the federal Real Estate Setdement Procedures Act of
<br /> 1974 as amended from time to time, t2 U.S.C. Section 2601 et seq. ("RESPA"),unless another law that applies to the Funds
<br /> sets a lesser amount. If so,Lender may, at any time, collect and hold Punds in an amount not to exceed the lesser amount.
<br /> I.ender muy estimate the amount of Funds due on the basis of current data and reasonable estimates of ezpenditures of futun �
<br /> Escrow Items or otherwise in aceordance with applicable law.
<br /> The Funds shall be held in an institution whose deposits are fnsured by a federal agency, instrumentality, or entity
<br /> (including Lcnder,if L�:nder is such an institution)or in uny Pederal Home Laan Bank.Lender shall epply the Funds to pay the
<br /> Escrow Items. Lcnder may not charge Bonower for holding and applying the Funds,annually analyzing the escrow account. or '
<br /> verifying the Escrow Items,unless Lender pays Borrower interest on the Funds and applicable law permits I.ender to make such
<br /> a charge. However. Lender may require Borrower to pay a one-time charge for an independent real estate tax reporting servia
<br /> �.ed b; Lender in coanee:ion �veih Lhis lQast, es�less sg�+licable law �+rov��t�� �thPrwice. Ifnle.cc an agreement ls mede or
<br /> upplicable law requires interest to be paid, L.ender shall not be required to pay Borrower any interest or eaminga on the Funds.
<br /> Borrower and I.ender muy agree in wrlting, however.that interest shall bc paid on the Funds. Lender shall give to Borrower,
<br /> without char�e, an annual accounting of the Funds, showing credits and debits to the Funds and the purpase for which each
<br /> •' debit to the Funcls was made.The Funds are pledged as additional security for rill sums secured by this Secudty Instrument.
<br /> ' If the Funds held by Lender exceed the amoun�s permined to be held by applicable law, Lender shall account to Bonawer
<br /> for the excess Funds in accordance with the requirements of upplicable law. If the amount af the Funds held by Lender at any
<br /> � time is not sufficient to pay the Escrow Items when due,Lender may so notify Borrower in wdting,and, in such case Bonower
<br /> i: ahall pay to Lender the amount neccssary to make up the deficiency.Borcower shall make up the deficiency in no more than
<br /> �r twelve monthly payments.at Lender's sole discretion.
<br /> :� Upon payment in full of all sums secured by this Securiry Instrument, L.ender shatl promptly refimd to Borrower any
<br /> Funds held by Lender.If.under paragraph 21,Lendcr shall acquire or sell the Property,Lender,prior to the acquisidon or sale
<br /> of the Property.shall apply any Funds held by I.ender ut the time of acquisitton or sele as a cred[t against the sums secural by
<br /> j th{s Securiry Instrumc:nt.
<br /> 3.Applicatton of Payments.Unless applicable law provides othorwise.all payments received by L.ender under paragraphs
<br /> . 1 and 2 shall be applicd: fitst.to any prepayment charges duc under the Note;second,to amounts payable under paragraph 2;
<br /> third,to interest due;fourth,to principal due;and last,to any late charges due under the Note.
<br /> 4.Charges;Ltens. Bonower shall pay all taxes,essessments, charges. Cnes and impositions attributable to the Properry
<br /> ., which may attain priorlty over this Security Instrument, and leasehold payments or ground rents, if any.Borrower shall pay
<br /> � these obligations in the manner provtded in paragrnph 2,or if not paid in that manner,Borrower shall pay them on time directly
<br /> to the person owed payment. Bonower shall promptly furnish to I.ender all nottces of amounts to be paid under this paragraph.
<br /> , If Borrower makes these payments directly.Bonower shull pramptly furnish tn Lender rcxeipts evidencing the payments.
<br /> , Borrower shaU promptly discharge any lien which has prioriry over this Secudty Instrument unless 8orrower: (a)agrees in
<br /> writing to the payment of the obligation secured by thc lien in a manner acceptable to I.ender;(bl contests in good faith the lien
<br /> by, or defends against enforcement of the lien in, Iegal proceedtngs which in the L.ender's opinion operate to prevent the
<br /> enforcement of the lien; or(c)secures from the holder of the lien an agreement satisfactory co Lender subordinating the Ilen to
<br /> this Security Instrurnent. If L.ender determines that uny part of the Psoperty is subject to a lien whIch may attain priority over
<br /> this Security Instrument. Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or
<br /> mom of the actions set forth above within 10 days of the giving of notice.
<br /> � Form 3028 9/90
<br /> Paqo 2 of B
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