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<br /> � TOGE7'HER WITH all the improvsments now or hen;aftsr erected on the propeny, and aU casemenu,nppurtenances,and � �• �j�-,.:.
<br /> � Cxtures now or hereafter a part of the property. AA replacements and nddiuons shall also be covered by this Securiry lnstrurncnt. �,:��. -
<br /> � '�'`� All of thc tore oin is referred ta in this Securit Insaument as thc"Pro rt ." ���� =ti•y�^'�'
<br /> ; BORROWER COVENANTS that Borrowcr is lawfully scised of ihc cstate hereby convcycd nnd has thc right to granl arid '�� �'
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<br /> ,:..,.. ,,,�s convey the Property and chat ihe Property is unencumbered, except for encumbrances of record. Aorrower wurrants and witl �:�,,:_
<br /> .. �• dcf�nd generally the ude to thc Property against all claims and demands,subjcct to any cncumbrances of rccord. , • ��'•
<br /> THIS SECIJkITY INSTRUIv�NT combines uniforni covenants for nat�onal use and non-uniform covenanis with limited ��� �
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<br /> � vuiauons by jurisdiction to consuwte a unifarm security instrument cavering real property. =
<br /> �� � iINIFORM COVENANTS.S�rrower and Lcndcrcovenant and agrec as follows: '�'$4����_
<br /> 1.Payment of Principal and Iaterest;Prepayment and Late Charges. Bonowcr shall prompdy pay when duc the `<��'���:
<br /> .��•, •.
<br /> principal of�nd interest on thc dcbt cvidenccd by thc Notc and any prcpnyment and late charges due under thc Natc. _„�,, •_
<br /> 2.Funds Por Taxes and Insurance. Subject to applicable law or to a wriuen waiver by L,ender, Borrower shall pay to .�.�'-'''�_
<br /> ,�. Lender an Ihc day monthly payments arc due under thc Note,until the Note is paid in full.a sum("Funds")for:(a) yearly taxes _----
<br /> nnd a�.sessmenGs which may auain priority over this Sccuriry Instrument as a lien on the Property;(b)ycarly leaschald paymcnts =-""�
<br /> � f � or ground rents on the Praperty,if any;(c) yearly hazard or property insurance premiums;(d)yearly flood insurance premiums,if _==__
<br /> any;(e) yearly mortgage insurance premiums,if any;end(� any sums pnyable by Botrower to I.ender, in accordance with the
<br /> provisions of paragraph 8, in licu of the payment ot mortgagc insurance premiums. These items are caUcd "Escrow Itcros." _
<br /> � Lender may,at any time,collect and hold Funds in an amount not w exceed the maximum amount a lender for a federally relat,ed �=
<br /> mortgage loan may rcyu'ue for Borrower's escrow aceount under the f�.deral Real Estate Seulement Procedures Act of 1974 as
<br /> amended from time to time, 12 U.S.C.Secuon 2601 ei seq. ("RESPA"),unless another law that appUes to ths Funds sets a Icsser - ;
<br /> amounG If so,T..ender may, at any time, collect end hold Funds in an amount not to exceed the lesser amount. I.ender may �-"
<br /> ���• estimete the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or �'::.
<br /> � otherwise in accordance with applicable law. ;:-
<br /> � 'Ihe Funds shall be held in an institutian whose deposits are insured by�a federal agency,insuumentality,or entity(including
<br /> Lendcr. if L.cnder is such an institudonl or in anv Fcderal Homc Loan Bank.L.ender shall apply the Funds to pay the Escrow �"
<br /> - _. . ...-:�. T.� . . ,.
<br /> � Itcros,Lender may not charge Bonower for holding and applying the Funds,annually analyzing the escrow account,or vcrifying _-
<br /> the E�crow Items,unless Lender pays Bonower interest on the Funds and applicable law permits Lender to make such a charge. _
<br /> . However,Lender may require Borrower to pay a one•tirne charge for an independent real estate tax reporting service usecl by -
<br /> �; Lender in connection wi�}� this loan, unless applic;aUle law provides othenvise. Unless an agreement is made or applicablc law - --
<br /> i reyu'ues interest to be paid,Lcnder shall not be requued ro pay Bonower any interest or camings on the Funds.Borrower and
<br /> ;� Lcnder may agree in writing,however,that interest shell be paid on thc Funds.Lender shall give to Borrower,without charge,an
<br /> '� annual accounting of the Funds,showing credits and debits to the Funds and the purpose for which each debit to the Funds was
<br /> made,The Funds are pledged as additional security for all sums secured by this Security Instrument. �r
<br /> If the Funds held by Lender exceed the amounts permitteti to be hcld by applicable law,Lender shall account to Borrower for •-
<br /> the excess Funds in accordance with the requiremenu of applicable law.If the amount of the Funds held by Lender at any time is
<br /> � not sufCicient to pay the Escraw Items when due,Lcnder may so notify Boaower in writing,and,in such case Borrower shall pay
<br /> to Lender thc amount ncccssary to make up thc deficicncy. Borrowcr shall makc up the deficiency in no more than twelvc
<br /> • �, monthly payments,at Lender's sole discreuon. ;_:
<br /> � Upon paymcnt in full of all sum�sccured by this Securiry Instrument.Lender shall prompdy refund to Borrower any Funds r'
<br /> held by Lender.If,under pazagraph 21,Lender shall acquirc or sel]the Property,Lender, prior to the acquisition or sale of the -
<br /> , Property, shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by this _
<br /> ... Sccurity Instrument. �°_-���
<br /> ' �, � 3.Application of Payments. Unless applicable law provides otherwise,all payments received by Ixnder under paragraphs �`�+
<br /> t � 1 and 2 shall b; a lied: fust,to an rc a mcnt chaz es due under the Notc; second, to amounts a able under ara a h 2; k
<br /> PP YP PY g PY P b'�P
<br /> �b third,w interest due;fourth,to principal duc;and last,w any late charges due under the Note.
<br /> 4.Charges;L[ens. Borrower shall pay all taxcs,assessmcnts, charges, fines and impositi�ns attributable lo the Property� _'�—— ."�_.
<br />" ' which may attain priority ovcr this Securicy Instrumem,and leasehold payments or ground rents,if an}�.Borrower shall pay these � .��—� ���
<br /> . • obligarions in the manncr provided in paragraph 2,or iF not paid in that manner,Borrower shall pay them on time direcdy to thc ��---=--,-�;�,F,a
<br /> • person owcd payment. Borrower shall prompdy furnish to L.ender all nouces o! amounts to be paid under this paragraph. If . �����
<br />' Bonower makes these paymenu d'uecd��,Borrower shall prompUy furnish to Lender receipts evidencing the payments. � •° �=��
<br /> ` � Borrower shall prompdy discharge any lien which has priority over this Securit��Instrument unless Borrower: (a)agrees in ' . �:.s'-;;�'
<br /> wridng to�hc paymcnt nf the obligadon sccurcd bp tlre licn in a manncr acccptable to Lender; (b)conu;sts in good faith the licn �o-- - `�
<br /> b�, or defends a ainst enforcement of the lien in, Ie al roceedin s which in the Lender's o inion o ratc to revent the ��`� �
<br /> > S S P 6 P P� P )�.g�;Y
<br /> cnforcemcnt of thc licn; or(c)sccures from thc holdcr af Ihc licn an agrccment satistactor�•to Lcnder subordinating thc lien to
<br /> Ihis Sccurity Instrumcnt. If Lcndcr dctcrmincs that an}�pan of thc Property is subjcct to a licn which may attain priorit��ovcr this �
<br />- Secunry Instrumcnt,Lcndcr may givc Borrower a noucc identifying thc lien.Borrowcr shall satisfy the licn or takc onc or morc �
<br /> of thcacuons set fonh abovc within 1O days of thc giving of noucc.
<br /> Form 3028 9/90
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