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<br /> TOGETHER WI'TfY all the improvemente now or hereafter crected on tk�e propetty,and all easementa,appurtenancea,and
<br /> flxtures now ar hereafter a purt of the propeny. All replaccments and additiona shall ulso be covered by thi� Sccurity
<br /> Inxttument.All of the foregoing is refenal to in thls Security lnstrument as the'Property,"
<br /> BORROWER COVBNANTS that Borrower is lawfully seisod of the estate hereby conveyed and has the right to grant and
<br /> convey the Propeny and thet the Propeny is unencumber�d, except far encumbrances of record. Bonower warrants and will
<br /> defend generally the title to the Property against all claims and demands, subJect to any cncumbra.hces of record.
<br /> THIS SECURITY INSTRUMENT combines unifornn covenants for nstional use and non-uniform cavenants with limitsd
<br /> vaziations by jurisdiction to constitute a uniform security instrumenc covering real property.
<br /> UNIFORM COVBNANTS. Boaower and L.euder covenant and agrcc as follows: �
<br /> 1. Pwymmt o[ Pclncignl and Interest; Prepayment and I.ote Chwrges. Borrower shall promptly pay when due the
<br /> principal of and interest on the debt evidenced by the Note and an,y prepayment and lace charges due under the Note.
<br /> 2. Fbads for Taxes and Insurance. Subjoct to applicable law or to a wdtten waiver by l.ender, Borrower shall pay to
<br /> l.�nder on tho day monthly payments aze due nnder the Note,until the Notc is paid in full,a sum("Funds")for:(a)yearly taxes
<br /> and assessments which may attain prlority over this Securlty Instrument as a lien on the Property;(b)yearly leasehold payments
<br /> or ground rents on the Property, if any; (c)yearly hazard or property insurance premiums; (d)yearly flood lnsurance premiums,
<br /> if any; (e)yearly mortgage in�urance pnmiums, if any; and(�any sums payable by Borrower to Lender, in accordana with
<br /> the provisions of paragraph 8, In lieu of the paymen[of mortguge insurance premiums. The�e Items are callod "F.�crow Itema,"
<br /> I,ender may, at any time, collect and hold Fw�de in an amount not to eaceed the maximum Amount � leruler for a foder�lly
<br /> rel�tal mortgxge loan may require for Bottower's escrow account under�he foderd Re�l Eat�te Sottlert�n� Procodura Act of
<br /> 1974�u unended fmm time to time, 12 U,S.C. Section 2601 a seq. ("RPSPA"),unless another I�w th�t�ppliu to the Fund�
<br /> seq� lesser�mount. If so, l..ender may, �t �ny Nme,collect uul hold Pund�In �n amount not to eaceed the larer �moum,
<br /> Lender may atitnete the amount of Funda due on the b�uia of currenr dat� and rwon�ble atim�tcs of experidltures of future
<br /> F.�crow Itema or otherwiie in accordu�ce with�pplicable Iaw.
<br /> 'ilte Funds ehall be held in an institution whoae depoaits are insurod by a foderal agency, instrumentality, or entity
<br /> (including L.ender,if I.ender is auch an Irutitution)or tn any Feder�l Home Lonn Bwnk. Lender sh�ll apply the Funds[o p�y the
<br /> Eacrow Items.i.ender may not ch�uge Boaower far holding and applying the Funds,azmually an�lyzing the eacrow�ccount,or
<br /> vedfying the F.acrow Items,unless L.ender pays Borrower interest on the Funds and appllcable law pamita Lender to make such
<br /> a chuga However, L.ender may requin Borrower to pay a one•timc chuge for an independont real estate tax nporting eervice
<br /> used by Lender in connection with this loan, unleas applicable law provides otherwise. UnTess an agreement ls m�de or
<br /> applicable law requires intereat to be paid, l.cnder ehall not be rrquired co pay Borrowcr any interest or earninga on the Funds.
<br /> Borrower end Lender n►ay agree in writing, however,that interest shall be pald on the Funds. Lender sh�ll give to Borrower,
<br /> without�riarge, an annual accountiag of the Funds, showing credits and debfts to thc:Funds and the purpo�e for which each
<br /> debit to the Funds was made.The Funds are plt;dged as additional sccuriiy iur rll si��iu s�:ure3 by tki��c�c:r'siy l:atra:.stat.
<br /> If the Funda held by L.ender excoed the amounts pemutted to be held by appllcable law,Lender shall account to Bonower
<br /> for the excess Funds in accordance with the requirements of applicablo law. If the amount of the Funds held by Lender at any
<br /> time is not auff cient to pay th�Fscrow Items when due,I.ender may so notify Borrower in writing, and, in auch case Borrower
<br /> shall pAy to Lender the amount nocessary to make up the deficiency. Borcuwer shall make up the deficiency in no more ttun
<br /> twelve monthly payment�,at Lender's sole discretion.
<br /> Upon ptyment in full uf all sums secur�d by this Security Instrument, Lender shall pr�mptly refund to Bonower any
<br /> Funda held by L.ender. If,under pazagraph 21,Lender shall acquire or sell the Property,Lender,prior to the acquisiiion or saie
<br /> of the Property, sh�l!app�y any Funds held by Lender at the time of acquisition or sale as a credit against the sums securod by
<br /> thi�Securiry Instturrxnt.
<br /> 3.Applk�tion of Pwyments.Unless applicable law provides otherwise,all payments�eceived Uy Lec�der under paragraphs
<br /> 1 anci 2 sliall be applied: first,to any prepayment chuges due under the Note;second,to amounts pay�ble under paragrnph 2;
<br /> third.to intereat due;fourth,to principal due;and last,to any late charges due under the Note.
<br /> 4.Chargea;Liens. Borrower shall pay a1l taxes, assessments, chazges, fines and impositions attributable to the Property
<br /> which may accai�ypponty,o.e{this Security instrument, and Ieasehold payments or ground rents, if any. Borrowtr shall pay
<br /> thae obligationa`lnlltt�rprovided in paragraph 2,or if not paid in that manner, Borrowcr shall pay them on time directly
<br /> to the person owed payment. Borrower shall promptly fumish to Lender dl notices of amounts to be paid under thia paragraph.
<br /> [f Borrower malces these payments directly, Borrower shall promptly furnish to Lender reccipts evidencing the payments.
<br /> Borrower ah�ll promptly discharge any lien which has priority over�his Security Instrument unlea�Borrower: (a)agrees in
<br /> writing to the payment of the obligation sxural by the lien in a manner acceptable to Lender;(b)contests in good faith the lien
<br /> by, or defends against enforament of the lien in, legal proce�dings which in the Lender's opinion operate to prevent the
<br /> enforcement of the lien; or(c)secures from the holder of the Ilen an agreement satisfactory to Lender subordinating the lien to
<br /> thia Security Ina�tument. If Lender determines that aay part of the Property Is subject to a Ifen which r.iay attain priority over
<br /> this Security instcument, Lender may give Bonower a notice identifying the lien. Bonower shall satisfy the tien or take one or
<br />= more of the actions set forth above within 10 days of the giving of notice.
<br />_ Fam 3026 9/80
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