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<br /> __- -_ 98- ��zsss
<br /> TO(.;ETHER WlTH all thc improvements now or hereafter erxtul on the property, und all cascmcnts,sppurtcnances, and
<br /> fixtures now or hereafter u part of the propeny. All replscements and additions shall ulso be cavered by this Security
<br /> lnstrument. All of th�foregoing is referral to in this Security Instrument as the"Property."
<br /> I30RROW ER COVENANTS that Borrowar is Ipwfully seised of the estatc hcrcby convcycci und has the right to grant arxl
<br /> comey the Propeny and thut the Property is unencumbered, except for encumbrunces of record, Bormwer wnrrunts und wili
<br /> defend generally the tille to the Propeny uguinst all cluims und demands,subject to nny Encumbrances of record.
<br /> 'fHIS SECURITY INSTRUMGNT combinec unifarm covenants for nutionnl use and non-uniform covenants with litnited
<br /> variations by juri�liction to constitutc a uniform security instrument c<rvcring rcal property.
<br /> UNIFORI►A COVG'NANTS. Borrower and Leixter covennnt nnd agrec as f'ollows:
<br /> 1. �'Myment c�f Princlpel wnd interesh, Prepayment and Late Chary;cs. Rorrower shall promptly pay when duc the
<br /> principal of and interest on thc debt cvidenced by the Note and any prepuyment and lace churges duc undcr tlic Nate.
<br /> 2. Funds tor Tpxes and 1n9urAr�ce. Subject to applicable law or to a written waiver by l.ender, Borrower shall pay to
<br /> Lcnder on the day monthly paymcrts ure due nndcr the Notc,until the Notc is paid in full,a sum("Funds")for: (n)yearly taxcs
<br /> and ussessment�which muy uttain priority over this Security Instrument as a lien on the Property;(b) yearly leasehold payments
<br /> or ground rents on ehc Praperty,if nny;(c)ycarly hazard ar property insurance prcmiums;(d)yenrly flood insurance premiums,
<br /> if any; (e) ye,t►rly mongage insurunce premiums, if any; and(� any sums paynbla by Borrower to Lender, in accordunce with
<br /> the provisions of p3ragraph 8, in lieu of the payment of martgage insurunce premiums. These items are culled "Escrow Items."
<br /> Lender may, at any time,collect and hold Funds in an amount not to exceed the maximum acnount a lender for a federally
<br /> related mortgnge loan may require for Borrower's escrow uccount under the federal Real Estate Settlement Prncedures Act af
<br /> 1974 as amended from teme to time, 12 U.S.C. Section 2601 et seq. ("RF.SPA"), unless unother law that applies to the I'unds
<br /> sets a lesser amaunt.If so, C.ender may, at any time, collect and hold Funds in an amount not to exet;ed the lesser amount.
<br /> Lender may cstin�ate the amount of Funds due on the basis of current data and reasonnble estimates oF expenditures of future
<br /> Escrow Items or ott�erwise in accordunce with applicable law.
<br /> The Funds sl-iall be held in an institution whose deposits ure insured by a federal agenr,y, instrumentality, or entity
<br /> (including Lender, if l.ender is such an institution)or in any Federal Home Loan Bank.Lender shnll apply�he Funds to pay the
<br /> Escrow Items. Lender may not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or
<br /> verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such
<br /> n churge. However, Lender mny rcquire Borrower to puy u onc-time chargc for an independent rcal estate tAx reporting service
<br /> used by Lender in connection with this loan, unless applicable law provides otherwise. Unless an agreement is macie or
<br /> applicable law requires interest to be paid, Lendcr shall not be requircd to pay Borrower any interest or earnings on the Funds.
<br /> Borrower and Lendcr may agrec in writing, however, that interast shall be paid on thc Funds. l.cnder shnll give to I3arrower,
<br /> without churg�,an annual accounting of the Fiinds, showing crcdits and debits to the Funds and tne purpose for which each
<br /> debit to the Funds was made.The Funds are pledged as additional securit��for all sums secured by this Security Instrument.
<br /> Tf th�ru:.;s t:c�d by�nd�r�x:�:he»:r.�e.^.ts�rmitt�d rn hP held by apqlicable law. Lender shall account to Borrower
<br /> for the excess Funds in uccordunce with the reyuirements of applicuble law. If the amount of 1he Funds held by Lender at any
<br /> time is not sufficient to pay the Escrow Items when due, Lender may so notify Borrower in wri►ing, and, in such case Bonower
<br /> shall pny to Lcnder the amount necessary to make up tlic deficiency. Borrower shall make up the deficiency in no mote than
<br /> twelve monthly payn�ents,at L.ender's sole discretion.
<br /> Upon payn�ent in full of all sums secured by this Security [nstrument, i.ender shall promptly refund to 13orrower any
<br /> Funds held by Ltnder. If,under paragraph 21, Lender sliall ucquire or sell the Propeny, Lender,prior to the acquisition or sale
<br /> of the Property,shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by
<br /> this Security Instrurnent.
<br /> 3.Applicaitlon of Payments.Unless applicable luw provides otherwisc,nll paymcnts received by Lender under paragraphs
<br /> 1 and 2 shall be applied: first,to uny prepayment charges duc under the Note; second, to amounts payuble under paragraph 2;
<br /> third,to interest due;fourth,to principal duc;and Inst,t�any latc charges duc under the Note.
<br /> A. ChArges; I.lens. Borrower shnll pay all taxes,nssessmcnts, churges, fines and impositions attributable to the Property
<br /> which may attain priority ovcr this Sccurity Instru►nent, and leasehold payments or ground rents, if any, Borrower shall pay
<br /> these abligutions in the manncr provided in paragraph 2,or if not paid in that manner,Borrowcr shall pay them on time direcdy
<br /> to thc person c�wed paymcnt. Borrower shall promptly furnish to Lender all notices of a�nounts to be paid under this paragraph.
<br /> If Borrowcr makcs thcse paymcnts directly,Borrower shall promptly furnish to Lcndcr r�;ccipts evidencing the payments.
<br /> Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)3grecs in
<br /> writing to the payrnent of the obligation secured by the lien in�manner acceptable to l.ender; (b)contests in good fnith the lien
<br /> by, or defends�gainst enforcement of the lien in, Iegal proccaiings wliich in tlie Lender's opinion operate to prevent the
<br /> enforccmcnt of the licn; or (c)secures From thc holder of the lieman agreement satisfactory ro I.ender subordinuting the lien to
<br /> this Security insrrwixnt. if Lendcr determincs th,u any pan of the Property is subjcct to a lien which may attain priority ovcr
<br /> this Sccuriry Instrumcnt, Lcndcr may give Eiorrower a noticc idcntifying thc licn. Borrower shall satisfy the lien or takc one or
<br /> more uf the actions set forth above within 10 days uf thc giving of noticc.
<br /> Form 3028 9180
<br /> PeBO 2 of G
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