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<br /> � 97- 1105J4
<br /> � ` TOGETHER WITH aU the improvcmcnts now or hereaftcr erected on thc propeny,a�id all casements, appurtenances,and
<br /> , � fixtures now or hereafter a part of the property. All reptacements and additions shall also be covered by this Security
<br /> lnstrument. All of the foregoing iti referrcd to in this Security Instrument as the "Property."
<br /> �" BORROWER COVGNANTS Ihat Borro�vcr is Ia�vfuUy sciscd of thc cstatc hcrcby conveycd ttnd has ihc right tn grant and _
<br /> ; ..�..� convey the Property und that the Property is unencumbered, except for encumbrances of record. Barrower warrants and will
<br /> defend generally the tidc to the Property against all cluims and demands,subject to any encumbrances of record.
<br /> •�+�'�'d'� THIS SECURITY INSTRUMENT combines unifnrm covenunts for national use und non-uniform covenants with limited
<br /> . """""''�F variations by jurisdictian to constitute a uniform security instrument covering renl property.
<br /> { UNIFORM COVENANTS. Borrower and Lender covenant and ugree us folloas:
<br /> I. Puyment of Principul und dnterest; I'repayment and l.ate Charges. Horrower shall promptly puy when duc thc
<br /> �h principal of anJ interest on the debt evideneeci by the Note and a�iy prepayment and late churges due under the Note.
<br /> '. 2. FundS for Taxes und Insurunce. Subjcct to applicable law or to a written waiver by Lender, Borrower shall pay to
<br /> Lender an the dny monthly payments urc duc under the Notc, until thc Note is puid in full, �►Sum("Funds")for.(a)yeurly taxes
<br /> and assessments which muy attain priority ovcr this Security Instrument as u lien on the Properry; (b)ycarly Ieasehold payments
<br /> • or gmund rents on thc Properry, if uny; (c)ycurly huzard or praperty insuruncc prcmiums; i d)ycurly flond insurancc prcmiums,
<br /> if uny: (c) ycarly murtgagc insurunrc premiums, if any: and (tl uny sums puyublc hy Horruwcr to I.andcr, in uccordnncc with
<br /> [hc pravisiimti of paragrupl�ts, in licu uf thc puymcnt uf mongugc insurimcc prcmiums.Thesc itcros arc callcd "E�cruw Itcros."
<br />- � ' l.cnder may, at any timc, rollcct und hold FwiJ.r in un amount nnt tu exrccd thc maximum anmunt u IenJcr for u fedcrally
<br /> rcl�ue�l murtgsigc loan m:iy rryuirc li�r F3urn,wer'ti cticruw urr��um under the r�a���,�i K���i r,w�o Setdemcnt Proced��res Act of
<br /> 197d us wncndcd 1'rum timr tu timc. 12 U.S.C. Scrtiun 2601 et.,ry. ("RESPA"). unleti,unathcr luw thut applics to thc Funds
<br /> set,a Ics�cr amuunt. If .n. Lc�idcr nuiy. �U uny timr. cullcct and hnld Funds in un umount not to excecd the Iesser arnount.
<br /> Lw�nder muy r,timate thc amuwit ol'Pund,Juc on the basis c�f currcnt data anJ reas�muble estim�teti of expenditures of future
<br /> . E�cmw llems iu uthenvise in arrurd.ince with upplirablc luw.
<br /> Thr Funds yhall hc hrld in an institutian whusc dcposits arc in�ured by a feJcrul agency, instrumcntality, or entity
<br /> (including Lendcr, if l.cndcr i.tiucli an institutinn)nr in uny Fcdcral Humc Loan Bank. Lendcr shall apply thc Funds to pny thc
<br /> Escrow items. L�:nder muy not charge Borrower for holding and applying the Funds, annuallp analyr.ing the escrow uccount, or
<br /> verifying thc Escrow Itcm,, unlrss Lcndcr payti Borrower interest on thc Funds und applicable law pern�its L.ender to make such
<br /> . „-- -�- - a ciiarge. Howcv�r,Lc�iucr may rcyuirc isorrowcr«�puy u vnc-�inie ciiurgc iur un indepcudcut�r,��1 C�tutc tua ie:�ortii�b s���ic:.
<br /> . used by Lender in cnnnection with this loun, unlesti applicable law provides otherwise. Unless an ngreement is made or
<br /> • applicable law reyuires intcrest to bc puid, Lcnder shull not bc required to pay Borrower any intcrest or camings on the Funds.
<br /> Borrowcr and l.endcr may ugrcc in writing, howevcr, tha[ interest shull bc paid on the Funds, l.ender shall give to Borrowcr,
<br /> , . �, withaut char�;e, un annual xrcountinF of the Fundti, showing crcdits und debits w the Funds and the purpoce for which euch
<br /> ��� dr.bit tu thc Funds was madc. Thc Funds arc plcJgcd as udditionul security for ull sums sccurcd by this Sccurity Instrument.
<br /> , If the Funds helJ by Lcnder excced thc amounts pa•mitted to be held by applicablc luw,Lender shall uccount to Hortower
<br /> . for the excess Funds in accordunce with the requirements of applicable law. [f the amount of the Funds held by C.ender at any
<br /> time is nut sufficicnt to p.ry the Escrow Items when due,Lender may sn nutify Borro�ver in writing,und, in such case Borrower
<br /> shall pay to Lender the amnunt necessary to make up the deticiency. Borrower shull make up the deficiency in no more than
<br />'. _ twelve manthly payments,iu Lcndcr's sole discrction.
<br />' Upon payment in full of all sums ticrurcd by this Security Instrument. I.cndcr shall prompdy rcfund to Borrowcr any
<br />- � Funds hcld by Lettdcr. If.undcr paragraph?I, Lcnd�r shaU ucquirc ur sell the Property,Lendcr, prior to thc ncquisition or sulc
<br /> . of the Pruperty, shall apply any FunJs held by LenJer at the time of'ucyuisition or sale as a credit aguinst the sums secured by
<br /> . -- — this Scrurity Instrumcnt.
<br /> ��` 3.Applicntion of Puymepts. Unless applicable luw provides otherwise,all payments rcceived by Lender under paragraphs
<br /> ' 1 and 2 shall be applied: first, to any prepayment charges due unJer the Notc; secimd,to amounts payuble under paragraph 2;
<br /> third, to intcrest dur,fourth,to principnl Jue;and la�t, tu any late rhargex cluc undcr lhe Nc�te.
<br />- 4.ChNrges; I.Iens. Borrowcr shull pay all t.ixcs, asscssments, charges, tines aind impositions attributublc to the Property
<br /> which m,ty uttain priority ovcr this Sccurity Instrumcnt, and Ics{xchold puyments or grounJ rcnts, if any. Borrowcr shall pay
<br /> , . � thesc obli�ationti in thc manncr proviJcJ in paragraph 2,i�r if nut paid in that tnanner. Burrower shnll pay them on time directly
<br /> , � ` to thc person o�ved paymcn[. Bormwcr�hall proinptly furnish to Lcndcr all noticcs of cinu�unts to bc paid undcr this paragraph,
<br /> r If Borrowcr mukes thcsc paymcnts dircrtly. Borrowcr shull promptly furnish to I.cndcr rcccipts cvidcncing thc paymcnts.
<br /> . Borruwcr sliall promptly discharge any licn which has prioriry uvcr tliis Securiry Instrument unlcss Barrn�ver: (a)a�*,rces in
<br /> , writing to the paynicnt of the ubligation�ecurcd by�he lien in a maimer arceptable tu Lender,(b) cnntests in good faith the lien
<br /> � �, hy, or defcnds a�*aimt ri�ti�rrcment uf thc licn in. Icgal prncecdings which in the Len�ier's upinion operatc to prevent the
<br /> _ ' enf��rrrmcnt uf thc licn: or(r)�ccurrs t'ram thc hcilJcr ul'thc licn an agrectnent satisfactory ti�Lcndcr suhordinating thc licn tu
<br /> � this Sccurity In+trununt. If LcnJcr dctrnninc+thut any p,u-t af thc Prc�perty is tiuhjcct to a licn which may uttain prioriry ovrr
<br /> this Scrurity Instrununt. Lrndcr may givr Burrowcr a nuticc id�ntil'ying thc licn. Rorrowcr�hall y:itisfy thc licn ur takc onc or
<br />_ morc uf thc.iciic,nti xt ti�rth ah��vc aithin 10 Jay.uf thc givin�:uf nuticc.
<br /> Form 302B 9/90
<br /> Pnqo 7 0�G
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