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<br /> TOCRTHF?R WITH aU tho improvements now ar hereattcr cratedon thc propeny,and aU casemcn�,uppwic:u+u��w,m�d °-
<br /> fixtures naw an c�resditcr a part of the pmperty.AU replaccmcnts ttnd adtitions shaU ulso bc co�ered by this Sccuriry lnstrumcnt. -�
<br /> Ail of thc forcgoing Is rcfeacd to in thts Sccudry Instrument a9 the"Proputy: �_�
<br /> BORROWER COVENANTS thet Borrawer ls lawfully seiscd of iho eYtate hcrcby convcycd and has thc right ta grant snd —
<br /> convey the Praperty end that tha Property is unencumbereG,except fa encumbrnnces of record. Borcowa wazrantv and wip
<br /> clofend generalty the Utla to the Praperty againat eU claima end dem�nds,aubject to nny encumbrunces af recc�rd. —
<br /> '�HIS SECURITY INS'CRUI►�NT combincs nnlform covcnants for nadonal use and non-uniform cuvcnanta with Iimitcd
<br />� variattons by jurIsdicdon to consdlnu n uniform sccurity inswmcnt covcru�g tcal properry. �
<br /> UMFQRM COVBNANTS.Borrowcr and Lcndcr covcnent and egrcaas follows:
<br /> 1.Fi�y�nn�+f of�ri�c�p�l as�d I..te:W-t; °��a;�n¢nt��cl Lat�Ch�r�e9. Borrowcr shsll prompUy pay whcn dua thc -
<br /> principal of and Interest on the debt avidcnced by the Note and nny prcpaymcnt and latc chargcs dua under tho Notc.
<br /> 2.Funds tar Tpxea and IneurAna. Subjcct to appllcablu law or to a wriuen waiver by I,ender, Bortower shal! pay co
<br /> L.cnder an the day monthly payments are duc under the Notc,until the NoLc!s paid in full,a rum("Funds")far:(a)ycarly ta�ces
<br /> end assessments which may auain pdorlty over ihL9 Securiry Instrument as a lien on thc Pmperiy:(b)Yearly leasehflld paymcnts
<br /> ar ground rents an tho Property�if anY:(c)Ycacly hezard or property Insurance premiums:(d)Yearly flood insurance pnmiums,if
<br /> w►Y: (c)Ycarly mortgage insurance preiniuma,if any;and(�any aurns payable by Borrower to L.ender.in accordance with tb�e
<br /> provisions of paragraph 8,in lleu of thu paymcnt of mortgage Insurencc premiums.These ;tcros are called "Escrow Items."
<br /> Lcnder may,at any tlme.coUect and hold Funds in an amount not w exaed�he maxImum amount a lender for a federally mlatod
<br /> mortgage loan may requirc for Borrower's escrow account nnder tae federnl Iteat Estate Setticment Proceduces Act ot I974 as -
<br /> amended from time w dme,12 U.S.C.Section 2601 et seq. ("RESPA"),unless another law that applies to thc Funds scts a lesser
<br />_ amoun� If so, I.endu may. at any dme,collect and hold Funds In an amount not to excced the lesser amounG I..ender may _
<br /> cstimate the amount of Funds dua on the basis of curcent data ond reasoaable cstimates of cxpendiwms of�uturo Escmw Items or
<br /> otherwise In eccordancc with epplicable law.
<br /> 'Ilte Funds shaU be hcld in an insdwdon whose deposits arc insured by a federal agency,instrumentality,or endty(including
<br />- Lender,if I,endes Is such an insdtudon)or in any Federal Home Loan Saak. Lender shall apply the Funds to pay tha Bscrnw
<br /> Items.Lender may not charge Borrower for holding and applying Iha IUnds,annuallY�Y�B�e��'�unt,or veiifying
<br /> 1hr,Escrow Itema, unless I.ender pays Borrower interest oa the Funds eod applicablc law permits I.endu to maka such a chazge.
<br /> However,Lender may require Borrower to pay a onadme charge for en independent real�statc tax reportin8 servkc used bY
<br /> Lender in connectlon with this loan,unless epplicable law provides o�erwlse. Unless aa agrament is made a applicable law
<br /> requires interest to bo paid�nder ahall not be requucd to pay Borrawer eay intemst or earnings on the Funds.Bocrowa and
<br /> Lendei may agr�e in wrldug,however,that interest shaU be p�id on the Funds.Lender shall give to Borrowu,without charge,an
<br /> ,-ia�,uat act�untusg of sl�c Funds,sha�:'3s�g ctedits anc3 debiis t�LhP Fnndo and the purpose for whfch each debit to the Funds was
<br /> made.The Funds an pledgod as addidonal security for all sums secured by this Se�urity Ins�umenG
<br /> If the Funds held by Lendu eaceed the amounts permiaed to ba heW by applicuble law,Lender shell account w Borrnwer for
<br /> the excess Funds in accordanc:e with the requirements of appllcable law,If the amount of the Funds held by I.ender at any time is
<br /> not sufficiertt to pay the Bscrow Items when due,I.ender may so nodfy Borrower in writing,and,la sach case Borrowu shail pay
<br /> to Lu►der the amount necessary to make up the deficiency. Borrowa sball make up the deficiency in no moce ihan twelve
<br /> monthly paymencs.at Lender's sole discretion.
<br /> Upon paymettt in full of all sums securod by this Securlty Inswrntat,Lender shall promptly refuad to Bonowu any Fuads
<br /> hcld by Lender.If.under paraBraPh 21,Lender shall acquire or sell tlk PropertY,Le�►der.prior co the acquisition or sale of the
<br /> Propeny�slwll eppty any Funds held by Leader at the timo of acqnisidon or sale as a cmdit ageinst tha sums sccurod by tS�i�
<br /> Securiry Insuumen4
<br /> 3.AppNc�xtbn ot PAyments. Unless applicable law provides�tlxtwise,eIl payments received by L.ender undu paragraphs
<br /> 1 and 2 shall be applied:first,to any prep�yment charges due under tlie Nou;second,to emounta payabk undu paraBraph 2;
<br /> third,W�ntcrest due;fourth,to principal due;and lest,to any lata chargcs due under the Note.
<br /> 4.C64rgesi Lkna. Bomower st�all pay all taxes, assessments, chuges. fines azid imposidons aqribnteble to the PropertY
<br /> which may aualn pdorlty over this Security Insnumeat,and l�:ascholci payme,nts or ground rents,if any.Botmwu shall pay these
<br /> obligedons in the menner pravided in paragraph 2,or if�ot paid in ttiet manner,Botrower shall pay them on time dirocdy w the
<br /> person owal paymenG Borrower shall prompdy fi�mish to Lender all norices of amounts to I�e paid undec this pazagraph. If
<br /> Bonower makes theso payments dirxdy,Borcower shall promptly furnish to Lender receipts evidenc�ng the payments.
<br /> Borrower shall prompdy dischargo eny 8en which has priority ova tt�ia Seeurity Inshument unlcss Borcowu: (e)bgrees in
<br /> writing to the paymeni of the obligadon secure,d by the llen in a marma accepteble to I.endu:(b)contests in 800d fetth the lien
<br /> by, or defends ageinst enfom.ement of the lien in, legal proceedinga which in the Lender's opiaion opec�ate to prevent the
<br /> enforcement of the Gen;or(c)secuces from the holdcr of the lien an agecement satisfacwry to I.endu subordinating the llen w
<br /> this SecurIty InsprumenL If I.ender detem�ines ihat any part of tho Prop�rty is subject oo a IIen which may aaain priorlry over this
<br /> Security lnstrument,I.ender may give Borrawer a nobca identlfying the lien.Borrower shall sadsfy the lien or take one or moro
<br />— of the actions set forth abovts within 10 days of the giving of nodce,
<br />_ Fo�m 304t 4/90
<br />— �•eR(NE)tox�zl.o+ Pap�7o16 inwau: _
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