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<br /> TO(3ETHER W1TH All the Improvemcnte now or here�ft�r erocted on the property,and ell casr.ments,appurtenances,and
<br /> fixtures naw or herraftcr a pan of the property. All replecsmenta and additions shall dso be covered by this Socurity
<br /> Instrument.AIi aY thc fore�oing is rcf�rrod to in Ihis Sec:urity Instrument as the"Proper�y."
<br /> BC1RRbWBR C.OV�NAIVTS that Borrawer is I�wfully seised of the e5tate hereby conveyod and has the right to grant xrxf
<br /> convGy thn Property ud thet the Property is unencumbered, exttpt far encumbrances uf record. Bonower warrants and will
<br /> deknd generally the iide to the Praperty agalnst ali claims and demands, subjoct ta any encurnbrunces of recurd,
<br /> THIS SECU�t1TY 1NSTRUML�NT combinea uniform coverunts for national use and non-aniform covenants with limited
<br /> variatlons by jurisdiction ro constitute a uniform security instrurnent cavaring rwl property.
<br /> UNIFCIR[N COVENANTS,&�rrower ancf I.encler covenant nnd agrce us follows;
<br /> 1. P�yme+�t o!PrinclpMl �nd Intenst; Prepnyment �nd I.s►te Char�ee. Borrawcr �all promptly pay when due the
<br /> principal of and interest an the debt evidencerl by the Note and any p�repayment end latc charges due under the Notc.
<br /> Z, Fund� tor Tuces�nd Inaur�nce. Subject to applicAblc law or to a written waiver by l.ender, Borrower shall pmy to
<br /> l,ender on the day monthly paymcnts ere due urder the Note,until thc Note is paid in full,a sum("Funds")for:(a)yearly taxes
<br /> and assessments whech may sttsin priority over thie Socurity Instnment as a lien on Ihc Property;(b)yearly leaschold payments
<br /> or ground n�ts on ttu Property,if sny;(c)yaarly hazurd or property insurance premiums;(d)yearly flood insurance premiums,
<br /> if any; (e)ywrly mortgage insurance premiums, if uny; et�cl(��ny sums payable by Borrower to L,ender, in accordana with
<br /> the provisions of par�graph 8, in lieu of the paymant of mortgage insurance premiums. These items are called"Bscrow items."
<br /> L,end�� may, at any time,wllect and hold Funds in an amount not to excad the maximum am�unt s lender far a federnlly
<br /> relAtal mortgage loan may requi�e for Banower's escrow account under the federal Real Estste Settlement Procedures Act of
<br /> 1974 as atnended from time to ti►ne, 12 U.S.C. Section 2601 er seq,("RESPA").unless arather law that applies to the Funds
<br /> sets a lesser amount,If so, Lender may, at any time, collxt and hold Funds in en amount not to exceed the lesser amount.
<br /> Lender may estimate the amount of Funds due on the basls of wcrent dats aixl re,asonable estimatcs of oxpenditures of future
<br /> Escrow Items or othenvise in accordance with applicnble law.
<br /> The Fur�ds shall be held in an institution whose doposiis are insurod by a federal egchcy. instrumenwlity, or entity
<br /> (including[.ender, if Lender is such an institution)or in any Federal Home l.oan Bank. Lerxler shall apply the Funds to pay the
<br /> Hscro�v Items. Lender may not charge Bonower for holding and applying the Funds,annually analyzing dhe escrow account,or
<br /> verifying tho Escmw It�ms, unless Lender pays Bonower interest on the Funds and applicable law permics I.ender to make such
<br /> a charge. Hawover. Lender may requjre Borrower to pay a one•time chArge far an independent real estate tax repor4ing servia
<br /> u,ced by Lender in connection with this loan, unless appli�ble law provldes otherwise, Unl�ss an agroement is mede or
<br /> applicabfe law requires interest to be paid,Lender shall not be requircd to pay Borrower any interest or eamings on the Cunds.
<br /> Bocrowzr and Lencler may agra in writing, howover,that intercst shall be paid on the Futds. Lender shall give to Borrower,
<br /> without cherge, an annusl accounting of thc Funds, shawing credits and debits to the Fnnds and the purpose for which each
<br /> debit to the Funds was mede.'t'he Funds arc piadgcci a�u�iditi�r��writy f�r;,!!�a^s� �.�:'�b;!lirs SM'�!riw in�inimeni.
<br /> If the Funds hcld by Lender exceed the emounts permittod Io be held by applicable law,L.ender shall account to Borrower
<br /> for the exass Funds in accocdance with the requirements of applicable law. If the am�wnt oF the�runds hcld by Lender�t any
<br /> time is not sufficient to pay the Escrow Itoms when due,Lender may so notify Boxrower in writing, and, in such c�se Borrower
<br /> shall pay to I.ender the amount nceessary to make up tho deficiency, Borrower slislt make up the deficiency in nn more thnn
<br /> twelve monthly payments,at Lender's sole discretion.
<br /> Upor_ payment in full of all sums secured by this Security In�':ument, Lxnder shall promptly refund to Borrower any
<br /> Funds held by Lender. If,under paragraph 2l,I.ender shall ucquice or sell the Pcoperty,Leixler,prior to the acquisition or sale
<br /> of the Property,chall apply any Funds held by Lcnder at th� time of acquisition or sale as a credit against the sum�secursd by
<br /> this Security Instrurnent.
<br /> 3.ApplicAtiou of Payments.Unless applicsble law provides otherwise,all payments receivod by Lender under paragrapha
<br /> 1 and 2 shall be applied;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;and last,to any late charges due under the Note.
<br /> 4.ChArges; Lkns.Borrower shail pay all taxes, assessnknts,charges,fines and impositions sttributable to the Property
<br /> which may attain �rioriry over this Security Instrument, anci Itaselwld payments or ground rents. if any. Homowcr shall pay
<br /> these obligations in the manner providal in paragraph 2,or if not paid in tbat manner. Borrower shali pay them on time directly
<br /> to the person owed payment. E�orrower shall promptly furnish to Lender all nutices of emounts to be paid under this paragraph.
<br /> If Borrower makes ihese puyments direcNy,Borrower shall prompily furnish to Lender receipts evidencing the payments.
<br /> Borrower shall promptly discharge any lien which lias priority over this Security Inscrument unless Bonower: (a)agrees in
<br /> writing to the payrnent of the obligation secured by the lien in a munner acceptable to Lender; (b)contests in gooJ faitn the lien
<br /> by, or defends against enforcerrient of the lien in, legal proceedings which in the I,ender's opinion operate to pravent the
<br /> enforcement of the lien;or(c)secures from the holder of the lien nn agreement satisfacto�y to Lender subordinating the lien to
<br /> this Security Instrume�t. If L.ender determines that any part of the Property is subject to a lien which may attain priority ovcr
<br /> this 5ecuriry Instr.ument,Lender may give Borrower a notice identifying the lien.Bottower shall satisfy the lien or take one or
<br /> more of the actions set forth above within !0 days of the giving of notice.
<br /> Form 3028 8/80
<br /> P.�:o+e
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