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<br /> °• +'>, TOGBTHER WITH aU the improvements now or hereafter crected on the property, and all tasemcnts,appurtenances, and
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<br />-�''�' fixwres now or hereafter a pan of the praperty. All raplacoments and additions shall also be covered by this Security
<br />-�����*h� instrument.All of tUe foregoing is referctd to in this Securit.y Instrument as the "Property."
<br /> --a�,.;�r. BORROWER COVENANTS that Borrower is lawfully seisecl of�he estate hereby conveyed and has thc right ta grwu and
<br />�".a`••� �• convey the Propeny and that the Property is unencumbered, except for encumbranas of record. B��rrower warranes and will
<br />`"t��? ���; defend generally thr,title ta the Propeny againat all claims and demands, subject to any sncumbrances of record.
<br /> 'tHIS SECURITY INSTRUMENT cornbines uniform covcnants for national use and non-uniform covenants with limitcd
<br />``'��;�,�t variations by jurisdiction to wnstitute a uniform security instrument covering real property,
<br /> UN[FORM COVENANTS. Borrower and L.ender covenant and agree as follows:
<br /> `�"�•� 1. Poyment ot Princippl ond Interesh Prepwyment and Late Charges. Borrower shall promptly pay when due �hc `
<br />_J��' principal of and interest on the debt evidcnced by the Note and any prepayment and late charges due under the Note.
<br /> Z. Fbnds [or Taxes and Insurance. 5ubjec�to appltcable law or to a written waiver by l.endcr, Borrower shall pay to
<br /> '+;�� � � I.ender on thc day monthly payments arc due under ih� Note,until the Note is paid in ftill,a sum('Funds")for:(a)yearly taxes
<br /> ;a.:r.,,.. . Y P Y Y Pe Y� Y P Y
<br />-�_w,;.,,, and assessments which ma attain rinrit over this Securit Instrument as a lien on the Pro rt (b)ycarl leasehold a ments
<br /> � '�.''�` 8 Pe Y Y Y P Pe Y P ( Y Y P
<br />-::,�::,,, or round rents on the Pro n , if an ;(c)yearl hazard or ro n insurance remiums; d) earl flood insurance remiums,
<br /> - =°�`"-?�:.; if any; (e)yearly mongage insurance premiums, if any;and(�any su►ns payable by Borrower to L.ender, in accordance with
<br />=•_�__=_�*!�� the provisions of paragraph S, in lieu of the payment of mortgag�insurance premiums. These items are called"Escrow Items."
<br /> ;�_°����.� l.ender may, at any time, collect and hold Funds in an amount not to exceed the maximum amo»nt a lender for a fed�rally
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<br /> ..,�;��e:e��� relatai murtga�e loan may require for Borrower's escrow account under the fedoral Real Estate Setdement Procedures Act o
<br />--°"=`_'�. 1974 as amended from time to Nme, 12 U.S.C. Section 2601 et seq, ("RFSPA"), unless another law that applies to the Funds
<br /> -<<=��' sets a lesser amount. If so, I.ender may, at any time, collect and hold Funds in an amaunt not to exceed the lesser amount.
<br />_ -� Lender may estimate the amount of Fimds due on�he basis of current data and reasonable estitnates of cxpenditures of future _
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<br /> Es,row Ite. �s or otherwise in accordance with applicable law.
<br /> 'The Fun ds s h a l l b e he l d in an institut ion w hose deposi ts ue insur�d b y a fcderal a genc y. inatrumentalit y, or en[ity
<br /> =�;�����`�:''�3� (including Lender,if I.ender is such an institution)or in any Federal Home Loan Bank. I.cnder shall apply the Funds to pay the
<br /> - � -a-:� Escrow Items. Lender may not charge Borrower for holding and applying the Funds,aruivally analyzing the escrow account,or
<br /> `-`-�'-"� verifying the Escrow[tems,unless L.ender pays Borcower interest on the Funds and applicablc law permits Lender to make such
<br /> _ a charge. However, I.ender may requlre Borrawer to pay a one-time charge for an independent real estate tax reporting service
<br /> -� `� used by Lender in conncetion with this loan, unless applicable law provides otherwise. Unless an agreement is made or
<br /> - =-=rti=a�7C-� applicable law requires interest to be paid, Lender shall uot be required to pay Borrowcr any interest or eamings on the Funds.
<br /> -_- = Borcower and Lender may agree in writing, however. that interest shall be paid on the Funds. Lender shall glve to Borrower,
<br /> --�- without charge, an annual accounting of th�Fund�, showing credits and d�bits to the Funds and the purpose for which each
<br /> --=_— debit w the Funds was made.The Funds are pledRed as additionai security for all sums secured by tliis Security Insttument.
<br /> - If the Funds held by Lender excad the emounts permitted to be held by applicable law,i.ender shall account to Borrower
<br /> -' - for the excess Funds in accordance with the eequirements of applicable law. If the aniount of[he Funds held by Lender at any
<br /> - time is not sufficient to puy the Escrow Items when due,Lender may so notify Borrower in writing, and, in such case Borrower
<br /> � ��, shall pay to Lender the amount necessary to make up the deficiency. Borrawer shail make up the deficiency in no more than
<br /> -- - —� twelve monthly payments, at I.ender's sole discretion.
<br /> ---_ .;� Upon payment in full of all sums securcd by this Security [nstrument, l.ender shall promptly refund to Borrower any
<br /> - Funds held by I..ender.If, under paragraph 21,Lender shall acquire or sell tl�e Propeny.Lender,prior to the acquisition or sale
<br /> ______; of the Property, shall apply any Funde held by Lender at the time of acqutsition or sale tss a credit against the sums secured by
<br /> ---- - this Security Tnstrument.
<br /> - 3.Applicwtion of Ps►yments.Unless applicable law provides otherwise,all payments received by Lender under paragraphs
<br /> : 1 and 2 shall be applied: first,to any prepayment charges due under the Note;second. to amounts payable under paragraph 2;
<br /> third, [o interest due;fourth,[o principal due;and last,to any late chazges due under the Note.
<br /> � 4.Charges;I.ienv. Bonower shall pay all tues,assessments,charges, fines and impositions attributable to the Property
<br /> �_; which may attafQ�riocit�•�wec this Security Instrument, and leasehold payments or ground rems, if any. Bonower shall pay
<br /> -�-- � these obligations�`in'thd'mam►��provided in pazagraph 2,or if not paid in that tnanner,Borrower shall pay them on time dicectly
<br /> �`� to the person owed payment. Borrower shall prornptly furnish to Lender all natices of amounts to be paid under this paragraph.
<br /> �� If Barrower makes these payments directly, Bon•owa•shall promptly fiirnish to I.ender receipts evidencing the payments.
<br /> "'�'�"-='`-L"�� Borrower shali prompdy dischazge any lien which has priority over this Securiry Instnimeu►unless Borrower: (a)agrees in
<br /> writing to the payment of the obligation secured by the lien in a manner acceptable to C.ender;(b)contests in good faith the lien
<br /> -���-r�= by, or defends against enforcement of the lien in, legal proccedings which in the I.ender's opinion operate to prcvene the
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<br /> �--R����•� enforcement of the lien;or(c)secures from the bolder of the lien'an agnement satisfactory to l.ender subordinating die lien to
<br /> �-=�"��� this Securiry Instrument. If Lender determines tt�at any part of the Property is subjat to a lien which may anain priority over
<br /> -;��:���r� � this Security Instn�ment, L.ender may give Bonower a notice identifying the lien. Borrower shall satisfy the lien or take one or
<br /> '.`�.:`'3�.�. i�orc of the xtions sct forth above within 10 days of the giving of notice.
<br /> � y- Form 3028 9/90
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