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<br /> TOGETHBR W lTH all the improvements now or hereafter erectcd on thc property, and all easernents, appurtenanccs,and
<br /> fixnues naw an c�reafter a part of the praperty. All replacements and additions shall also be covered by this Security
<br /> Instrument. All�f the foregaing is referrod to in this Sccurity Instrument as thc"Property."
<br /> F30RROWER COVENANTS that Borrower is lawfully seiscd of the estate hereby convcycd a��d bas thc right to grant and
<br /> wnvey the Property and that the Propeny is unencumbeted, except for encuntbrances of record. F3orrower warrants and will
<br /> defend gcnerally the titla to the Property against all clalms and demands, subject to any encumbrances of record.
<br /> THIS SECURITY INSTRUMENT combines unifornt covenants for national use and non-unifonn covenants with limited
<br /> variations by jurisdiction to constitute a uniform securiiy instrument covering real property.
<br /> UNIFORM COVENANTS.Borrower and Lendercovenant and agrec as follows:
<br /> 1. Payment ot PrinciE►al and Interest; Prepapnent and Late Charges. Dorrower shall promptly pay whcn duc�hc
<br /> principal of and interest on the debt evidenced by the Note and any prepaymGnt and late charges due under the Note.
<br /> 2. Funds tor Taxes and Insurance. Subject to applicablc law or to ti �vritten waiver by Lendcr, Aorrowcr shail pay to
<br /> Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum("Funds")for:(a)ye�rly taxcs
<br /> and assessments which may attain priority over this Stturity Instrument as a licn on the Property; (b)yearly Icaschold payments
<br /> or ground rents on the Propeny,if any; (c)yearly hazard or property insurance premiums; (d)yearly Flood insurance pre►niums,
<br /> if any; (e)yearly mortgage insurance premiums, if any; and (� any sums payable by Borrower to l.ender, in accordance with
<br /> the provisions of paragraph 8, in lieu of the payment af mortgage insurance premiums.These items are called "Esarow Items."
<br /> Lender may, at any time, collect and hold Funds in an amaunt not to exceed the maximum amount a lender for a federzlly
<br /> related mortgage loan may require for Borrower's escrow account under the federal Real Estate Settlement Procedures Act uf
<br /> 1974 as amended from time to time,12 U.S.C.Scction 2601 et seq, ("RESPA"), unless anather law that applies to the Funds
<br /> sets a lesser amount. If sa, Lender may, at any tirne,collect and hold Funds in an amount not to exceed the lesser amount.
<br /> Lender may estimate thc amount of Funds duC un the hasis of current data and reasonable estimates af expenditures of future
<br /> Escrow Items or otherwise in accordasee with applicable law.
<br /> The Funds shall be held in an institution whose deposits are insured by a fcderal agcncy, inatrumentality, or entity
<br /> (including I.ender,if l.ender is such an insti[ution) or in a�iy Hederal Home L.aan Bank. L.endcr shall apply the Funds to pay the
<br /> Escrow[tems, Lender may not charge Bonower for holding and applying the Funds, annually analyzing the escrow account,or
<br /> verifying the F.scrow Items,unless Lender pays Dorrower interest on the Funds and applicable law permits Lendcr to make such
<br />_ a charge,However, Lender may require Borrower to pay a one-time charge for an independent real estate tax reporting servtce
<br />- usal by Lender in connection with this loan, unless applicable law provides otherwise. Unless an agreement is tnade or
<br />�= applicable law requires interest to be paid,l.ender shall not be required to pay Borrower any intcrest or e.arnings on the Funds.
<br />- Borrower and I.ender may agree in writing, however,thac interest sliall be paid on the Funds. Lender shall give to Borrower,
<br />- without charge, an annual accounting of[he Funds,showing creclits and debits to the F�nds and tl�e purpose for which each
<br />- deai:sa:.".e Far.ds w�madP. 'The Funds are pledged u additional security for all sums secured by this Sccurity lnstrument.
<br /> If the Funds held by I.ender exceed the amounts permitted to be held by applicable law, I..ender ahall account to Borrower
<br /> for the excess Funds in accordance with the requirements of applicable law. If the amount of the Funds held by Lcnder at any
<br /> time is not sufficient to pay the Escrow ltems when due. Lender may so notify Borrower in writing,and,in such case Borrower
<br /> shall pay ta l.ender the amount necessary to make up the deficiency, Borrower shall make up the deficiency in no more than
<br /> twelve mon[hly payments,at Lender's sole discretion.
<br /> Upon payment in full of all sums securcd by ihis Security Instrument, Lender shall promptly rcfund to Borrower any
<br /> Funds held by Lender. If,under paragraph 21,Lendor shall acquire or sell the Property, l.ender,prior to the acquisition or sale
<br /> of the Property, shall apply any Funds held by I.ender at tlie time of acquisition or salc as a credit against the sums secured by
<br /> this Security Instrument.
<br /> 3.AppllcwNon of Payments.Unless applicable law provides otherwise,all payments received Uy lLender under paragraphs
<br /> 1 and 2 shall be applied: first,to any prepayment charges due under the Notc; second, to amounts payablc under paragi•aph 2;
<br /> third,to interest due:fourth, to principal due;and last, to any late charges due under the Note.
<br /> 4.ChArges;Liens. Borrower shall pay all taxa, assessments, charges, Cnes and impositions attributable co[he Propeny
<br /> which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay
<br /> these obligations in tik muu►er prdvided in pazagraph 2.or if not paid in that manner,Barrower shall pay them on time directly
<br /> to the person owed payment. Borrower shall promptl�furnish to L.ender all notices of amounts to be paid under this paragraph.
<br /> _ If Borrower makes these payments dircctly, Borrowerstiall prontptly furnish to Lender receipts evidencing the payments.
<br /> Borrower shall promptly discharge any licn which has priority over this Security Instrument unless Borrower:(a)agrees in
<br /> writiTig to the payment of the obligation secured by the lien in a manner acccptabla to I.ender; (b)contests in good faith the lien
<br /> - by, or defends agairist enforcement of the lien in,legal proceedings which in the Lender's opinion operate to prevent the
<br /> enforcement of the licn; or(c)secures from thc holder of the licn un agreement satisfactory to Lender subordinating the licn to
<br /> this Security Instrument. If i.ender determines that any part of the Property is subject to a lien which may attain priority over
<br /> • this Sccurity Instrumcnt, L.endcr may give Borrowera notice identifying the lien. Borrower shall satisfy the lien or take one or
<br /> - ►nore of the actions set forth above within 10 days of ihe giving of notice.
<br /> Form 3028 9/90
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