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<br /> � TOGETH[sR WITH all thc improvcmcnts now on c�rcaftcr crccted on thc property. und il��CA`�C�11L'�1�5'aPP�»����°«�,and
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<br /> i fixtures now on c�rc:sftcr u purt of thc property. All rcpluccmentti and additions sh��ll ulsu hc covcrcd by this Sccuriry ' e`_
<br /> `'f Instrument. All uf thc forcgoing is rcfcrrccl to in this Security Instrument us the"Prnperty. _ _
<br /> BORROWFR CnVENAN'TS thut Borrower iti lawfully srised uf thc esuue hcreby cunveyc�l and hus thc right tu grant and �;�.!
<br />..:,1,.' ._�'�� convey the Propeny and that the Property is unencumbered, excep� fur encumbranc�s of cecnrd. Horrower wt+rrnnts and will
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<br /> defend�enerally the tide to the Propeny ugainst ull claims und demands, subject to uny encumhrunces of record.
<br /> z'.�,�� THIS SECURITY [NSTRUMENT combines uniform covenant� ti�r nutionul u�c and non-uniform covenunts with limiteci
<br />�"' r vuriutions by jurisdiction to constitute u uniform sccuriry instrumcnt covcring rcul propc��ty• _.____
<br /> �� UNIFORM COVENANTS. Bonower and[.cnder covenunt und agrec as follows:
<br /> • t 1. Peyment of Principal and Interest; Prepayment and Late Charg�. Borrowcr shall promptly puy when duc the �
<br /> principal of nnd intcrest on the debt evidenced by thc Note and uny prepuym�nt and latc churgcs duc uncicr thc Notc.
<br /> ' � 2. Funds for Taxes and Insurtence. Suhject to app�icable law c>r to u written waiver by L.ender. Borrawcr shaU pay to
<br /> �' L.ender on thc day monthly paymcnts ure duc undcr the Notc,until the Note is puid in full.�u y'("Fun arl) Icaschold�ayments
<br /> and assessmcnts which may attain priority over this Security Instrument as a licn on the Pro rt (b)Y ' Y P Y
<br /> � • or ground rents on the Property. if any: (c)ycarly huzard or propeny insurance premiums;(d)yearly flood insurance premiums.
<br /> , � if any: (c) yearly martgagc insurancc premiums, if s�ny; and(� any sums payable by Borrowcr to Lender, in accordunce with
<br /> . tlie provisions e�f parr,graph 8, in lieu of the payment of mortgage insurance premiums. These items are cullecl "Escrow Items." !-
<br /> Lender may. at any time, collect and hold Funds in an umount no[ to exceed the maximum amount a l�nder for a federally
<br /> �. �� related mortguge loan may rcquire for Horrower's cscrow account under �hc fedcral Rcal Estate Settlement Proccdures Act of
<br />= 197A as amended from time to timc, l2 U.S.C. S'�e�c tb�� and�1 old FundAin an amounttnot t exceedthecles�c,rhamounts
<br /> �� sets a lesser amount. If sa, Le:nder may, ut any t ,
<br /> Lendcr may estimatc thc amount af Funds duc on the bnsis of current datx and reasonahlc estimatcs of cxpcndiwres of future
<br /> � Escrow Itcros or otherwisc in acwrdance with applicablc law.
<br /> Thc Funds shull be hcld in an institution whose deposits arc insured by a fedcral agency, insn�umentulity, or entity
<br /><.- (including Lender, if I.ender is such an institution)or in any Federal I-Iomc Loan Bank. Lender shall apply thc Funds to pay the
<br /> Escraw Items. Lender may not charge Borrower for holding and applying the Funds,annually unalyzing[he escrow uccount, or —
<br /> '' := verifying the Escrow Items,unlcss Lcnder puys Barrower interest on the Funds and applicable law permits Lcnder to make such
<br />--, - jt C{11I�,C. �i��'���i. ����r may rc�!�ire Aorrower to pay a onc-time churgc for an indcpendcnt rcal estate tax rcporting service
<br />- � useci by Lender in connection with this loan, unless upplicable luw provides otnerwisc. Linic„ ui� abrr.:.mcnt ae m�d� Q'
<br /> y�; �� applicablc law requires intcrest to bc paid.Lendcr shall not bc rcyuired to pay Borrower uny intcrest or carnings on the Funds.
<br />'�`"� "�'�� Borro�ver and I.ender may agrec in writing, however, that in[crest shall be paid on the Funds. Lcnder shall give to Botrower, �
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<br /> � ' � without charge, an annual accounting of the Funds, showing crcdits und deUit. tu the Funds and the purpose for which eac
<br />���w�-.:��:* debit tn the Funds wus made. The Funds ure pledged as additional securiry for ull sums secured by this Security Instrument.
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<br />:_.,.;,���.�' If the Funds held by Lender excecci the amounts permitted w bc held b a licuble law. Lender shall account to orrower
<br />�;_;,,,,,,. ,. for the excess Funds in accordance with the requirements oF applicable luw. If the amount of the Funds held by Lender at uny
<br />�.,�,.t,�••�� time is not sufficient to pay thc Escr�>w Items ahen due, L.ender muy so notify Borrower in writing,and,in such case Bonower
<br />�• shall pay tn Lender the amount necessary to make up the deficiency. Borrower shall ma{u: up the deficiency in no more than _
<br />- ' `�'' twelve monthly paymcnts.at Lendcr's solc discrctian.
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<br /> _.=^+^h�rr' Upon payment in fuU af all sums securcd by this 5ecurity Ins[rumcnt, Lcnder shall prumptly refand to Borrowcr nny
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<br /> � Funds held by l.ender. [f,under paragraph 7.1. L.ender shall acquire or sell the Property.Lender, prior to the acquisitiun or sale
<br />_,,,,-� •_,y,,,.,; " of th�Praperty. shall apply any Funds hcld by L.cndcr at thc time nf acquisition or snlc as a crcdit abuinst thc sums sccurcd by
<br />" • `,��� this Securiry Instrumcnt.
<br />'.; " 3. Applicntion of Payments.Unlcss applicable law provides othcrwisc,all payments rcc:cived by Lcndcr undcr paragraphs
<br />�.-•• I and 2 tihall bc applicd: tirst, to any prepayment charges duc under thc Notc; ,econd, ro amounts puyable undcr paragruph 2;
<br /> third,to intcrest duc;fourth,to principal Juc:and last,to any latc charges duc undcr thc Notc.
<br /> V� ' ' 4. Cl�arges; Llens. Borrower shall pay all taxes, asscssments, charges, tines und impotiitions utvibutuhle to the Propeny
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<br />_- •,..i which may attain prio�•iry c�ver this Sccurity Instrument. anc! Icaschold payments or ground rents, if uny. Borrower shull pay
<br /> these ob�igations in thc manncr providecl in paragraph 2, or if not paid in that manncr, Borrowcr sl�all pay thcm an timc directly
<br /> ' � to thc person owed paYment. Bon•owcr shall promptly furnisli to l.ender all noticcs of amounts to be paid under this paragraph. _
<br /> � If Burrower makex thesc puyments dircctly. Borrowcr shall promptly furnish to Lcnder rcccipts evidcncing thc payments.
<br /> Horrowcr shall promptly discharge any licn whiclt hus priority over this Sccurity Instrument unless Borrower: (a)agreex in
<br /> � writing tu thc paymcnt of the obligutiun sccured by the licn in a munncr acccptablc to L.cnder: (b)contcsts in g��nd faith thc lien
<br /> 4• � by, or dclbndy �igainst enfnrccmcnt uf thc licn in. legul prcxcedingr w'hich in thc Lcndcr's opiniun oprratc tci prcvent the —
<br /> enforcement o(the lien: or(c)secures frotn the hulder of tltC lien an agreemrnt satistactury to I.ender suburdinating the lien to
<br /> '• this Security Instrumcnt. lf Lcndcr Jctcrmincs thut any part of thc Prc�pcny is aubjcct to a licn which may auain priority ovcr ---
<br /> � this Security Intitrument. Laider muy give Bc�rruwer a nutice identilYing th�lien. Borru�ver tihall satisl'y the lien or take one or �,'`
<br /> morc of thc actions set tiirth abovc�vithin IO days oF thc giviiig of nciticc. � _
<br /> Farm 3026 9/90
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