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<br /> TOGETHER WITH all �he i�nprovement�now or hereafter erected on the property,and all easements,sppurcenanccs,and
<br /> fixtures now or hereafter u part of the pro{xrty. All replacements ancl additions shall also be covered by this Sccurity
<br /> insttument. All of the forcg�ing is referred to in this Security Instrumcnt as the "Property."
<br /> BOltROWER CO`✓ENANTS thut Borrowcr is lawfully seiscd of thc estate hereby convcyed nnd has the right to grant und
<br /> convey the Propeny and thnt the Property is unencumbered, except for encwnbrunces of iccord, Borrawer warrants and will
<br /> defend generully the title to the Property against all claims and demands, subject to any encumbrunces of recard.
<br /> THIS SflCiJRITY IN�TRUMENT combines uniform covenants for nationul use nnd non-uniform covcnanls with limited
<br /> vnriutions by jurisdiction to constitute a uniform security instrument covering re..l property.
<br /> UNIFORM COVENANTS. Borrnwer and L,cnder covennnt and agrec as follows:
<br /> 1. Payment of I'rincipo� and inter�;h, Prepayment nnd Lete Charg�s. Borrower sF�all promptly pay when duc thc
<br /> principal of and interest on the dcbt evidenced by the Note and uny prepayment and late charges duc undcr thc Notc:.
<br /> 2. Funds for Taxes and Insurance. Subject to applicable law or to n writYen waivcr by Lcnder, Borrower shall pay to
<br /> l.endcr on thc day monthly payrnents arc due under the Note, until thc Note is paid in full, a sum("Funds")for;(u)ye,zrly taxes
<br /> and assessments which n�ay attain priority ovcr this Security Instrument as a lien on the Property;(b)yearly leasehold payments
<br /> or ground rents on the Fropeny, if any;(c)yearly hazard or property insurance premiums; (d)ycarly floocf insurance premiums,
<br /> if nny; (e)yearly tnortgage insurincc premiums, if any; nnd (� any sums paynble by Borrower to Lender, in accordance with
<br /> the provisions of pnrngraph 8,in licu of the payment of mortgage insurance premiums.Tt�ese items are called "Escrow Items."
<br /> Lender may, at any time, collect and hold Funds in an amount not to exceed the maxirnum umount a Iender for a fc:derally
<br /> relateJ mortgage loan may requirc for Borrower's cscrow uccount under tlie federal Real Estate Seitlement Pracedures Act of
<br /> 1974 as amended from time to time, 12 U.S.C. Section 2601 et seq. ("RESPA"), unless another law that applies to the Funds
<br /> sets a lesser amount. If sa, l.ender may, at any time, collect and hold Funds in an amount not to exceed the lesKr arnount.
<br /> Lender may extimate the amount of Funds duc nn the busi5 of current duta und reasonable estimntes of expendlturu�f future
<br /> L�scrow Items or otherwise in accordanee with applicable law.
<br /> The Funds shall bc hcld in un insti:utian who�e depo�ils are insured by u fcdcrnl agcncy, instrumantality, ar entity
<br /> (ineluding l.encler,if Lender Is such un instltution)nr in uny Pecteral Home I.oun Bunk.l.ender shall upply the Furxis to pay the
<br /> E�crow Ttems. Lcixier mny not charge�rrower far holding anJ upplying the Nunds, unnually unuly•r.ing the e.�crow xcount, or
<br /> verlfying thc Escrow Itcros, unlcss I.ender pAys&�reower intrrest on thc FurxJs aixi uppllcablc luw pem�itx I.encier to makc such
<br /> a churga Howevcr, l.enJcr n�ay reyuire F3orrowcr to puy u ono-tiu�e churge for an indepe��dent real estute�ax rcpoding scrvice
<br /> used by L,cnder in connection with this loun, unlcss upplicable law provides othcnvise. Unless an agreement is made or
<br /> applicable law reyuir�s in;erest ta be puid, I.ender shull not be requiral to pay Borrower nny interest or earnings an�hc Fur►ds.
<br /> Borrower and Lei�der may ngree in wrlting, however, that intcrest shall be paid on tl�e Funds. Lendcr shull give ta Borcower,
<br /> without charge, an annual accounting of the Funds, showing credits und debits to thc Funds and the purpose for which each
<br /> debit to the Funds was mnde.Thc Funds arc pledgecl as aJditional security for all sums secural by this Security Instrument,
<br /> IE thc Pu••�s hc:d b}�Lc;der ex�x!the s::oazt;Y�r:z:tt�!ta'��h�l�b;;appli:�b:�!:�:�,i.cr.der shs!!sccc��r.t t^��no",tr
<br /> for the excess Funds in:�ccordance with the requirements of applicable law. If the umount of the Funds held by Lender at any
<br /> iime is not sufficient to pay the Escrow Items when due,C.ender may so notify Borrower in writing, and, in such case�orrower
<br /> shall pay to L.cnder the amount necessary to make up the deficiency. Borrawer shall malce up thc deficiency in no more than
<br /> twelve monthly payments,at I.ender's sole discretion.
<br /> Upon payment in full of all sums secured by this Security Instn�ment, Lcnder shall promptly refund to Borcower any
<br /> Funds held by Lendcr. If,under paragrnph 21, Lender shall acyuire or scll the Property,Lender,prior to the acquisition or sale
<br /> of the Property, shall apply any Funds held by[xnder at the time of acquisition or sale as a credit against tho sums secured by
<br /> this Security Instniment.
<br /> 3.AppUcallon of Payments..Unless applicable law provides otherwise,all payments raeived by Lender under paragraphs
<br /> 1 and 2 shall be applied: first, to uny prepayment charges due under the Note; second,to amounts payable under paragraph 2;
<br /> third,to interest due;fourth,to principal due;and Inst,to ony lute charges due under the Note.
<br /> 4. Charges; Liens. Borrowcr shall pay all taxcs, assessments, charge,s, fines nnd impositions attributable to the Property
<br /> which may attain priority avcr this Security Instrumcnt, and Ic�scliold payments or ground rents, if any, Borrower shall pay
<br /> these obligations in thc manner provided in paragraph 2,or if not paid in that manncr, Harrow�r shu�l pay them an time dirxtly
<br /> to the person owed payment. Aorrower shall promptly furnish to Lender all notices of�mounts to be paid under this paragraph.
<br /> If Burrower makes these payments directly,Borrower shall promptly furnish to Lender reccipts evidencing the payments.
<br /> Borrower shall promptly discharge any lien which lias priority over this Security Instrument unless Borrower: (a)agrees in
<br /> writing to the payment of thc obligation secured by tlie lien in a m�nner acceptsble to Ltnder; (b)contests in good feith the lien
<br /> by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the
<br /> enforcement of thc lien; or(c)secures from the holder of the lien un agrcement satisfactory to Lender subordinating the lien to
<br /> this Security Instrument. if Lender deter►nines tliat any part of the Property is subject to a lien which may attain priority over
<br /> this Securiry Instrumcnt, Lendcr may givc Borrower a noticc idcntifying thc licn. Borrower sha�l satisfy the lien or take one or
<br /> more of tlic actions sct fonh �bovc within 10 days of the giving of notice.
<br /> Forrn 3028 9/80
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