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<br />. -� ;I "�',.��. TOGEtHER WT['H all the improvemeats now or hereafter erec:ted on the pmperty.and easements.aPPwteaances.and ---_
<br /> . . rec �
<br /> �.°i�:"'.,«`�..� � � fiatures no�+r or hereaRer a part of the pcoperty. A!1 iepta�cements aad addidons shall also be oovered by this 5ecuritY , �,�;�'
<br /> . , ``'�"; Instrument.A!1 of the foregoing is ceferred to in this Security Insmiment as the°Properry." � �;< r
<br /> � BORRO�YER COVENANCS that Borrower is Lawfully seised of the estate 6ereby conveyed aad has the rlght to grsiat and t: ..,':_`
<br /> � � � oonvey the Ptoperty and that the PropeRy is nnencumbeted.except for eacumbrances of record• Eotrower warranis and wiU t:,, ;�
<br /> . ��:. defend generaliy the tidg w the Pmperty a8ainst all ciaims aad demands.subje�to any encumbranoes of record. ��
<br /> -`- b :,'��, TH1S SECiJttITY INS1'RUMENT com�ines aniform covenants f�r national use aad non-uniform covenants wit8limited � �`;-
<br /> ,.~:.�`, ;.. ' variations by jurisdi�ion ta wnstituce ta aniform securiry insuument aovering real Propei'ty. •F. .
<br /> 1JMFORM COVENANTS.Borrnwer and I.euder covenant and agreE as fotiows: : .�
<br /> � � l. Payment uf Pdadpal and Intee+est: PrePaSrment sud Iate Ch�rges.Borrower.shall pmmpdy.Qay when due the .'.
<br /> ti< <._. ' ;' ?�...
<br /> � ���: priacipat of and interest on the debt evideuced by the Note and a�+prepaymct►t and late charges due uadec the Nn�e. ;,-
<br /> --_ — 2,�nnds far Taaes antl It�surauce•Subject to apglicabte law or to a written waiver by Leuder,Borcower shall p�y to � __
<br /> � lxnder.on the day monthly paymems are dne nnder the Nate,nnti!the Note is paid in fiill,a susn f°Funds'7 for.(a)y�rly taxes
<br /> . . _ '., and assessments wtuch may attain priority over this Sewrity Inswment as a lien on the PmpeKy:(1�)YeaTIY teas�hol�t payments �':-.'-=
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<br /> h., . ,�� � or gmuad rents on the Property.if any:(c)Yeazly ha�ard or pmperty insuranae premiums:(d)Yea�iY fto6hi insurance prenuums. :�,':.
<br /> ; • . � '' if any:(e1 Y�Y��8e insuiance premiums.i�siry:and(�auy sums payable by Eosrower to I.ender,in accatdance with .
<br /> .` ° .�°� � the provisions of P�S�Ph S,in lieu of the paYR►ent of mortgage iasuraace premiums.These items are call"ed°Escrow Items."
<br /> Ixnder may. at anv tune. oollea and hold Funds in an aa�ount aot ta exceed the ma�omum amount a tender for a federaHy . •;.•,,
<br /> � related mortgage loan may require for Bonower s escrow acca�snt under the federal Rea! Estate Setttement Procedures Ad of -
<br /> - _` ,..r.,,
<br /> . .�`.��.�''•r �� 1974 as amended f.rom time to ame, 12 U.S.C. Se,ction 2601 rt seg.(°R�SPA"}�untess another!aw tbat appties tP the Funds __..
<br /> ``��;;:"�.�':�. . aets a lesser amoun� If so,Lendez may,at any time.collect and hold Funds in an aznnunt not w exc�ed ths lesser amoum.
<br /> .•''`.-:;:. I.end�r may estimate the amount of Funds dae on the basi.s of cvrrent data a n d teaso n a b le e s t i m a tes o f e a p e n d i t u m s o f f u t u t e
<br /> �,•=,;'.�r-,
<br />- ' :'�,"�' Escrow Items or otherwise in accordance with applicable law. '
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<br /> •�� „ ' `�� ..�, 'ilie Funds sl�ali be held in an institution whose deposits are insured by a federa!agency, instrumentaliry, tY ,
<br /> � . (includiag Lender.if Leader is such an inttitution)os in any Federal Home Laan Bank.Leudec shall apply the Funds ta pay the .`�
<br /> ' �" Escrow Items.Lender may not charge Bmrower far holding and appIyiag the Funds.aanuaUy analYrinS the escrow account,or a -.��
<br /> ` ��'. •i� verifjrin$the Fsclrow Items.unless I.ender pays Borrower interest on tbe Fnnds and applicable law peiu�iis Lendet w make sach ,;�
<br /> ` a chatge.However, Lender may require Borrower to pay a one-time charge for an independent real estate tex reportinS Sennce _
<br /> ' �` � •;.. � � used by l.e�der in coanection with this toan. unless applicable law provides otherwise. Uniess an sgreemeni ls made or
<br /> � '� . appticabte iaw requires interest to 6e paid.I.endet shall not be required to pay Borrower any interest or eamings oa tha Fnads. �:__
<br /> _. . �onower and Lender may agree in writing.however.that interes�shall 6e paid on the Fuads• Lender.shall give to Borrower, �k�-•
<br /> � � • without charge,an am►ual acconnting of the fiunds, sdowing credits and debits to the Funds and the purpose for w6ich each �-=:•-._,
<br /> � debit to the Funds was made.The Funds are pledged as additionai security for aU sums secured by this Security Instmment• � '.K:'=
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<br /> . ` If the Fauds keid by Lendes exceed the amounts permitted to be heid by applicable law.I.ender shall account to Bomnwer .
<br /> . . .:�, �':��,:?�
<br /> �.�•� ; fqs the excess Funds in accordance with the reyuiremenu of applicable law.If t6e amount of the Fands held by Lender at any ____
<br /> �. •• •� time is not sufficient to pay the Sscrow Items when due.Lender may so notify Bosower in wridng,and,in sach case Bomuwer �...,.,�_
<br /> '� shall pay to Lender the amount necessary to make up the deficiency. Borrower shaQ make up the deficiency in no more than �L
<br /> •.j` �:
<br /> ` . twelve monthly payments,at Lender's sole discreuon. ���'--
<br /> Upon payment in full of all sums secured by this Security Instrument. Lender shall promptty refund to Borrower any �� .:
<br /> ` � Funds held by I.ender.if,under pac�raph 2l.I.ender shall acquire or sell the Property,Lender.prior to the acquisition or sate � �
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<br /> � • of the Property,shall apply any Funds held by Lendee at the time of acquisidan or sale as a credit.against the sums secured by �+i j�
<br /> !"� � this Secatriry Instrument. — __
<br /> R:• • : . 3.Applicatlom oS Payments.Unless applicable law provides otherwise,all payments receiyed by Lender under paragraphs �..
<br /> �;:5�.,�.. ': , :`�"; .; 1 and 2 sha116e appiied: first, to any prepayment chazges due under the Note:second, to amounts pa��able under paragraph 2; � '-
<br /> j=". � �� third.to interest due:fourth,to principal dae:and last.to any lz:e charges due under the Note. _,_
<br /> • ' � • 4. Chatges; Liens.Borrower shall pay all taxes.asses�nnznts.charges,fines and impositions atVibutable to the Sroperty �'=
<br /> �•. ..
<br /> �. .: ��e• which may attain priority over this Security Inswment, and ieasehold payments or ground rents. if any.Horrower�all pay ,�_.
<br /> ' • these obligations in the manner provided in paragraph Z,or if not paid in L�t rnanner,Borrower shall�ay them on time directly •-:^���
<br /> : � to the person owed payment.Borrower shall prG�.ptly fumish to I.ender ai0 notices of arrsounts to be p:^�ander this paragraph.
<br /> � �� . �' [f Borrower makes these payments directly.Bonower sha}1 promptly fumisls.to lander re�elpts.evidencing the payments.
<br /> ' • . . � . Borrower shall promptly disr�arge any lien which has priarity over this Security�'�s:mment unless Borrower:(a)agrees in _
<br /> � writing to the Qaymen�of the obligation secured by the lien in a manner acceptable to�.e^der:(b)contests in good faith the lien �
<br />_ �' by. or defends agz�rst enforcement of the lien in. legal proceedings which in the Lender's opinion operate to prevent the
<br /> ' ' enforcement of the[ien: or(c)secures from the holder of the Ilen an agreeTw t satisfactory to Lender subordinating the lien to _
<br /> . this Securiry Instrument. If Lender determincs that any part of the Propeny is subject to a lien which may ar.ain priority over ;
<br /> � . . this Se��ity lnstrument.Lender may give Bonower a notice identifying the Iien.$orrower sha11 satisfy the lien or take one or �'"''
<br /> l � -�: ' more of the actions set forth above wi4hin 10 days of the givieg of notice.
<br /> :. . form 3028 9/90
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