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<br /> TOGBTHER WITH all thc improvements now ar hereafter erected on the property, and all eusements,uppurtenunccs,und ;
<br /> fixtures now or hereafter a part of the property. All replacements and addltions Rhall ulso be covered by tl�is Securj�y
<br /> Instcument.All of the foregoing is referred to in thls Security Instrument us the "Property."
<br /> BORROWER COVENANTS that Borrower is Inwfully seisecl of the estatc hcreby canveyed and has the risht to grunt und
<br /> wnvey the Pro{�rty nnd that the Property is uncncwnbere�,except for encum6rances of record. Borrower w�irr�nts and wiU �
<br /> deiend generalty the tltle to the Propeny against all clnims and demands,subJect to any encumbrunces of recard.
<br /> THIS SECURITY INSTRUMBNT combincs uniforn►covenants far nntional usc and non-unlform cavcnants with limited
<br /> variadons by jurisdictian to constttute a uniform security instrument covcrin�reul property.
<br /> UNIFORM COVENANTS.Horrower and Lender covenant and asrcc as folfows:
<br /> 1. Payment of Princtpal and Interest; Prepayment and Late Charges. Bottower shall promptly pay when due the
<br /> principal of and interest on the debt evtdenccd by thc Notc and any prepuyment and late chargec due under the Note.
<br /> 2. �nds for Taxes and Insurance. Subject to applicuble law or to a wrttten walver by Lender, Barmwer shall puy to
<br /> L.ender an the dny monthly payments are due under the Note,until the Note Is paid in full.a sum("Funds")for: (n)yearly taxes
<br /> und assessments which may attafn priority aver this Security Instrument as a lien on the Property; (b)yearly leasehold payments
<br /> or ground renGS on the Property,if any;(c)yearly ha�.ard or property insurance premiums:(d)yearly tlood Insurance premiums,
<br /> if any; (e)yearly mortgage insurance premiums, if any; and(� any sums payable by Borrower to Lender, in accordance with
<br /> the provistons of paragraph 8, in lieu of the puyment of mortgage insurance premiums. These items stre called "Escrow Itams."
<br /> I.ender muy, at any time. collect and hold Funds in an amount not to exceed the maximum umuunt a lei�der for a federally -
<br /> relatcd mortgage l,��n may require for Bonower's escrow account under the federal Real Estate Settlement Prceedures Act of
<br /> 1974 as amended from time to time. l2 U.S.C. Section 2601 et seq. ("RESPA"), unless another law that applles to the Funds
<br /> sets a lesser amount. If so, Lender mny. at any time. collect and hold Funds in an amount not to exceed the lesser amount.
<br /> Lender may estimate the amount of Funds due on the basis of cune:it data and reasonable estimates of expenditures of future
<br /> Escrow Items or otherwise in ucwrdance wtth applicable law.
<br /> The Funds shaU be held in an institution whase deposits are lnsured by a federal agency, instrumentality, or entity
<br /> (including I.ender.if L.ender Is such an instttution)or in any Federal Home Loan Bank. Lender shall apply the Funds to p1y the
<br /> Escrow Items.i.ender may not charge Borrower for holding and applying the Funds.annually urtalyz�ng the escrow account. or
<br /> verifying the Bscrow Items,unless I.ender puys Borrower interest on the Funds and applicable law permits Lender to make such
<br /> a charge. However,L.ender may require Banower to pay a one-t�mc charge fvr an independent real estate tax reporting service
<br /> used by L.ender in conneetion with tnis foan. uniess applicabte iaw providw uil�c�w;ea. �r►i�s an agrxmcnt is nsade ar
<br /> applicable law requires interest to be pald,Lender shall not be required to pay Borrower any interest or earnings on the Funds.
<br /> Bonower nnd I.ender may agree in wr3ting, however. that interest shall be pald on the Funds. Lender shall give to Borrower.
<br /> without charge, an annual accounting of the Funds, showing credtts and debits to the Funds and the pur�wse for which each
<br /> debit to the Funds was made.The Funds are pledged as additionaf security for all sums secured by this Security Iastrument.
<br /> If the Funds held by I.ender exceed the amounts permitted to be held by applicable law, Lender shall account to Borrower
<br /> for the excess Fu»ds in accordance with the requirements of appltcablo law. If the amount of the Funds held by I.ender at any
<br /> time is not sufficient to pay the Fscrow Items when due,Lender muy sa nodfy Borrower in writing,and, in such case Borrower
<br /> shall pay to Lender the amount necessary to malce up d�e defiaiency. Borrower shall make up the deficiency in no more than
<br /> twelve manthly payments,nt L.ender's sole dtscretion.
<br /> Upon payment in full of all sums secured by this Secui�tty Instrument, Lender shall promptly refund to Borrowet any
<br /> Funds held by Lender.If,under paragraph 21.Lender shull acquir�or sell the Pmperry.Lender.pdor to the acquisidon or sale
<br /> of the Property.shall apply any Funds held by I,ender at the time of acquisitlon or sale as a credlt against the sums secured by
<br /> this Security Instrument.
<br /> 3.Application oi Payments. Unless applicable law provides atherwise,all payments received by Lender under paragruphs
<br /> 1 and 2 shall be�pplied: first. to any prepayment charges due under the Note; second. to amounts payable under paragraph 2;
<br /> third,to interest due;fourth,to principal due;end last,to Any late charges due under the Note.
<br /> 4. Charges; Ltens. Borcowcr shall pay ull taxes,asscssments. charges. fines and imposltions amibutable to thc Property
<br /> which may attain pdority over this Security Instrument. and leasehold payments or ground rents, if any. Bonowor shall pay
<br /> these obligations in the manner provided in paragraph 2,or if not paid in that manner,Borrower shall pay them on time directly
<br /> to the person owed paymeat. Borrower shall promptly furnish to I.endcr all nottccs of amounts to be p�Id under this paragraph.
<br /> If Borrower makes these payments directly.Bonower shall promptly fumish io L:ender rece:ipts evidencing the payments.
<br /> Borrower shall promptly discharge any lien which has prioriry�ver this Security Instrument unless Borrower: (a)agrees In
<br /> writin�to the payment of the obligution secured by tlte lien in a manner acceptable to Lender;(b)contests in good faith the lien
<br /> by, or defends agninst enforcement of the lien in, legal proceedings wh(ch in the Lender's opirrion operate to prevent the
<br /> enforcement of the lien;or(c) secures from the holder of the I[en an agreement satisfactory to I.ender subordinating tlie lien to
<br /> this Securtty Instrument. If Lender determines that uny part of the Property is subject to a lien which may attain pr�ority over
<br /> this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or
<br /> more of the actlons set forth above within 10 days of the giving of notice.
<br /> Form 3028 9l80
<br /> F.pe 4 0�a
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