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<br /> TOGETHER WITH all �he improvements naw on c�re�ftcr crocted on the pruperry,nnd all casements, appurtenanccs, and _
<br /> �xturcs now ar hereafter a part of the property. All replacements and additions shall also be covcrcd by this Scr,urity
<br /> lnstrument.All of thc foregoing is rcfcrrcd to in this Security Instrunzent as thc"Property."
<br /> BORROWER COV�NANTS that Borrower is lawfully seised of th�:cstAte harcby convcycd and has thc right to grant and
<br /> convey the Propeny and that the Propeny [s unencumbered, except for encumbrances of record. E3�rrower warrants and will
<br /> detend generally the dde to the Properry against all claims and demands, subject to any encumbrances of record.
<br /> THI5 SECURITY INSTRUMENT combines uniform covcnants for national usc and non-uniform covcnants with limitcd
<br /> variations by jurisdiction to constitute a uniform security instn►ment coverinb real property.
<br /> lJNIFORM COV6NANTS, Borrowcr and Lcndcr covenan[and agrcc as fullows: �- -
<br /> 1. Payment ot Principal wnd Interest; Prepayment and Late Charges. 8orrowcr shall promptly pay whcn duc thc
<br /> principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br /> 2, Funds for Twxrs and Insurance. Subjcct ta applicablP law or to a written waiver by Lcnder, Rorrowcr shall pay co
<br /> Lcndcr un the day monthly pnyments ue due under thc Nate,until the IVote is paid in full, a sum("Funds")for:(a)yearly taxes
<br /> and assessments whirh may attain priority over this Security Instrumcnt as a licn on the Property; (b) ycarly icasehold payments
<br /> or ground rents on the Propeny,if any; (c)yearly hazard or property insurance pr�miums; (d)ycarly flood insurance premiums,
<br /> if any; (e) yearly mortgage insurance premiums, if any; and(�aay sums payable hy IIorrower to l.ender, in accordance with
<br /> the provisions of paragraph 8, in lieu of the payment of morigage insurance premiums.1'hese items are callcd "Escrow Itetns."
<br /> I.cnder may, at any time, collect and hold Funds in an amount not[o excced the maximum amount a lender for a federally
<br /> relsted mortgage loan may require for Aorrower's escrow account under thc federal Real Estate Settlement Procedures Act of
<br /> 197A as amended from time to time, 12 U,S.C. Section 2601 et seq.("RESPA"), unless another law thac applics to the Funds
<br /> sets a lesser amount. If so. I..ender may, at any time, collect and hold Funds in an amount nat to exceed the lesser amount.
<br /> l.cnder may estimate the amount of Funds duc on the basis of current data and reasonable estima[es of expendi►ures of future -
<br /> Fscrow Items or otherwise in accordance with applicable law.
<br /> The Funds shall be held in an institution whosc deposits ar.e insured by a federal �gency, instrumentality, or entity
<br /> (including Lender, if l.ender is such an institution)or in any Federal Home Loan Bank.l.cnder shall apply the 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 Bon�ower interest on the Funds and applicable law permits Lender ta make such
<br />= a charge. However,l..ender may require Borrower to pay a one-time charge for an independent real estate tax reporting seervice
<br />= used by Lender in connection with this loan, unless applicable law provides otherwise. Unless an agreement is made or
<br /> applicable law requires inteyest to be paid,Lender shali not be required to pay Borrower any interest or earnings on the Funds,
<br /> Borrower and Lender may agree in writing, however, that intcrest shall be pald on clic Funds. L.cnder shall give to Borrower,
<br /> without charge, an nnnual accounting of the Funds, showing credits and debits to the Funds and the purpose for which cach
<br /> - debit to the Funds was made.The Funds are pledgcd as addinonal security ior uii surns sccurrd by tiiis xcurity Instr�mcri.
<br /> !f the Funds held by l..ender exceed the amounts pennitted to be held by applicablc law,I..cnder shall account t�Borrowor
<br /> for the exeess Funds i��accordance with the requirements of applicable law. If the amaunt of the Funds held by Lender at any
<br /> time is nat sufficient to pay the Escraw Items when due, L.cnder may so notify Borrowcr in writing, and, in such case Borrowcr
<br /> shall pay to Lendor the amount necessary to make up che dcficicncy, Borrowcr shall makc up thc deficiency in no more than
<br /> twelve monthly payments,at Lender's solc discretion.
<br /> Upon payment in full of all sums securcd by this Security lnstrwncnt, Lender shall promptly refund to Borrower any
<br /> Funds held by Lender. If,under paragraph 21,l.ender shall acquire or seli the Property,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 crcdit agains[the sums sccured by
<br /> this Securiry Instrument.
<br /> 3.Application of Payments.Unless applicablc law provides otherwisc,all paymcnts reccived by Lendcr under paragraphs
<br /> I and 2 shall be applied: first, to any prepayment charges due under the Note; second,to amounts payable under paragraph 2;
<br /> �hird,to interest due; fourth,to principal duc;and last, to any latc charges due under thc Note.
<br /> 4. Charges; Uens. Borrawer shall pay all taxes, asscssments,charges, fines and impositions attributable to the Propeny
<br /> which may attait�'priority over this Sccurity Instniment, and leasehold payments or ground rents, if any. Borrower shall pay
<br /> thcse obligations in the manner provided in paragraph 2,or if not paid in that manncr, Borruwer shall pay thcm on timc dircctly
<br /> to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragrnph.
<br /> If Borrower makes these payments directly, IIorrower shall pru►nptly furnish to Lendcr rcccipts evidencing the payments.
<br /> Borrower shall promptly discharge any lien which has priority over this Security lnstruntent unless Borrowcr: (a)agrees in
<br /> - w�iting to the payment of the obligation secured by the licn in a manner acceptablc to Lcndcr; (b)contests in good faith the lien
<br /> by, or defends agains[ enforcement of thc licn in, Icgul proceedings which in thc Lender's opinion operate to prevent the
<br /> enforcement of thc lien;or(c)secures from the holder of thc lien ��agreement satisfactory[o Lender subordinating the lien to
<br /> _ this 5ecurity Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over
<br /> ihis Security Instrument, I.endcr may givc Borrower a notice identifying the lien. Bnrrower shall satisfy thc lien or take onc or
<br /> morc of the actions set forth abovc within 10 days of thc giving of notice.
<br /> - Form 3028 9/90
<br /> _ �•BRfNEI�yz�zi.oz reae2oro in�uate: _
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