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<br /> TOGETHEIYWIT'Iial�theirnprovcmentsnuw or herea.ftererectedon the proparty,and all casements,appurtenances,and
<br /> fixtures naw or hereafter a part of the psoperty. All replacements and additions shall also be covcred by thi.c Sccurity
<br /> lnstrumcnt.All of the foragoing is rtfc:red to in this Security In.atrument ws the"Property."
<br /> BORROWEI�OV�NANTSt6at Borrowc:r is lawfulty :ceised of the cstate hereby conveyed and has the right to grant and
<br /> convey the Property snd that the Property is unencumbered,except for encumbrances of record. 8orrower warrents end will
<br /> defend gcnerally the title to the Property agaiast all claims anJ demunds,subject to any encumbrances of rccord.
<br /> THIS SBCUR[TYINSTRU114ENTtombincs uniForm covcnants for national usc and non-uniform covcnants witt limited
<br /> variations by jurlcdiction to constitute a uniS'orm security i�strumont covering real property.
<br /> U�1IFURMCOVENANTS.�orrower and Lender c.u�•enant�nd ag�ee as follows:
<br /> 1. Paraeat ot Principal nad Intereaq Prepwymat And Lwte Char�ca� Borrower�hall promptly pay when duc thc
<br /> principal af and intcrest on the debt evidenced by the Nole and any prepayment and late charges due undcr the Note.
<br /> 2. �ads tor TRxes ead Insrrance. Subject to appGcable law or to a writtcn waiver by Lender,Horrower shnll pay to
<br /> Lender on the day monthly payments aredue under the Nute, until thc Note is paid in full, n sum("F�nds") for: (a)yearly taxes
<br /> and assessmentswhich may attain priority over this Security Instrumentas a lien on the Property;(�)yearly leasehold payments
<br /> or ground rentson the Property,'sf any; (c)yearly hazardor propertyinsurance premiums;(d)yearly flood insurancepremiums,
<br /> if any; (e)yearly mortgage insurance promiums,if any; aad (�any sums payable by Borrower to I.ender,in accordanawith
<br /> the provisions of paragraph8, in lieu of ihe payment of mortgage insurance premiums.These item�are called"Escrow Items:'
<br /> Lender may, at uny time, collect aad hold Fltnds in an amount not to exceed the maximum amouat a lendcr far a fedcrally
<br /> related mortgage loan may requiae for Horrower's escrow account under the federal Real Estate Settlement ProceduresAct of
<br /> 1974 as amendedfrom time to tirne,12 U.S.C. Section ?b01 et seq. ("RFSPA"), unless anotherlatv that applies to the Funds
<br /> sets a lesser amount.If so, I.endcr may,at any time, collect and hold Funds ia an amount not to exceed the lesser amount.
<br /> L�end�r may esGmate the amount of Funds due on the fiasis of cunent data and reasonable estimatec nf expenditures of future
<br /> Escrow Items or otherwise in accordana with applicable law.
<br /> The F�nds shall be held in an institution whose dcposits arc insured by u federal agency, inatrumentality, or entity
<br /> (including Lender,if l.ender is suc6 an institution)or in any Federal Home Loan Bank.Lender shall apply[he Funds to pay the
<br /> Escrow Items.Lender may not c}sarge Borrower for holdin� and applying the Funds,annually analyr.ing the escrow account,ar
<br /> verifying the Escrow Items,unless Lender pays Borrowerinterest on the F�nds and applicable law permits Lenderto make such
<br /> a charge.However,I.cnder.may raquireDorrower to pay a one-time charge for an independentreal estate tax reporCing service
<br /> used by I.ender ia connection with this loan, unle.cs applicable law provides othcrwise. Unless an agreement is made or
<br /> applicable law requires interest to be paid, I.ender shall not be required to pay Borrower any interest or earnings on the�nds.
<br /> Borrowcr and l.onder may agree in writing, however, that interest shaU be paid on the FY�nds. Lender shall give ta Borrower,
<br /> without charge,an annual accou.ntiag of tlie E�nds, showing r,redits and debits to the�nds and the purpose for which each
<br /> dcbit to ihe runiu�vat uiuue.Tt-�e E�:a.�wrc g2r,dged�s�d�it:^aal se��.trity fnr nll�ums securcd by this Security Instrument.
<br /> If the F'uads held by L,enderexceedthe amountspermittedto be held by applicablelaw, Lendershall account to Borrower
<br /> for the excess�nds in accordanawith the requirementsof applicable law. If the amount of the Funds held by l.ender at any
<br /> time is not sufficient to pay theEsuowltemswhen due,Ltndermay so notify Borrowcrin writing, and,in such case Borrower
<br /> shall pay to Lender the amount aucessary to make up the deficiency. Borrower shall make up the deficiency in no more than
<br /> twelve monthly payments,at Lcnder's sole discretion,
<br /> Upon payment in full of all surns secured by ttiis 5ecurity Instrument,l.ender shall promptly refund to Burrower any
<br /> FUnds held by Lender.If, under paragreph2l, Len.der shall acquirc or sell the Property,I.ender,prior to the acquisition or sale
<br /> of the Property,shall apply any �lmds held by Lender at the time of acquisition or sale as a credit against the sums sccured by
<br /> this Stcurity I��strwnent.
<br /> 3. Applicadon ot Paytnent9,Unless applicablelawprovides otherwise,all paymentsreceivedby I.enderunderparagraphs
<br /> 1 and 2 shall be applicd:first, ko any prepaymentcharges due undcr the Note;second,to amountspayable under pazagraph2;
<br /> third,to iaterest due;fourth,to principal duc;and last,to any late chazges due under the Note.
<br /> 4. Chsu�ea; Lieras. Borrowershall pay all taxes, ass�ssments,cbarges, fines and impositions attributableto the Property
<br /> which may attain prioriry over this Sewrity Instrument,and leasehold payments or ground rents,if any. Borrowcr shall pay
<br /> these obligatioas in the maunerprovidedin paragcaph2,or af not paid in that manner,Borrower shall pay thom on time d'uectly
<br /> to thc person owed payment.Borrowershall promptly fumish to I.ender all notices of amounts to be paid under this paragraph.
<br /> If Borrower makes these payments directly,Borrower shall promptly furnish ta I.ender receipts evidencing the payments.
<br /> Borrowershall promptly dischargeany Gen which has priority over this Security Instrumentunless Borrower;(a)agrees in
<br /> writing to the payment of the obli�ation securedby the lien in a manneracceptableto Lender;(b)contests in good faith the lien
<br /> by, or defends against enforcernent ot ttie lien in, legal proce�dings which in the Lender's opinion operate to prevent thc
<br /> enforcementof the lien; or(c)securesGom the holder of the lien an agreementsatisfactory to Lender subordinatingthe lien to
<br /> this Security Instrument.If Lender determines that:►ny part of the Property is subject to a lien which may attain priority over
<br /> ttus Security Instrument,Lender may eve Borrower a notice identifying the lien. Borrower shall satisty the lien or take one or
<br /> more of the actions set forth above within 10 days of tbegiving of notice.
<br /> Form 3028 9/90
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<br /> 902B2.frm 12/88
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