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<br />, .� ;� TUG6THER WITH aU thc improvemcnts now on c�reafter erected un thc propeny, an PP �
<br /> fixtures now or hereafter a part of the property. All replacements Tnd additions shall also be covered by this Sccu►•ity 'jL
<br /> � ' '�'�' Instrument. All of the foregoing is referred to in this Security Instrumcn[as the"Propeny."
<br /> , .:�� BORkOWFR COVENANTS that Rorrower is lawfully seised of the estate hereby conveyed a�id has the right to grant and ,_
<br /> k convey the Property and that the Property is unencumbered, except for encumbrances of record. i3orrower warrants and will _
<br /> '. ' � defend generally the title to the Property against all elaims a�id demands, subjeci to any encumbrances of recorA. �::�
<br />' � THIS SECURITY INSTRUMENT combiries uniform covenants for national use and non-unifarm covenants�Hith litnited _
<br /> , variations Uy jurisdic[ion to coustiwte a uniform security instrumen[covering real property. �'
<br /> '� UNIFORM COV�NANTS. Borrower and Lendcr covenant and agcec as follows:
<br /> � '�� � 1. Payment ot I'rinclpal And Interest; Prepayment and LAte Charges. Borrower shall promptly pay whcn due the =
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<br />--.r' principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under thc Note. _
<br /> 2. FundS for Taxes wnd Insurs►nce. Subject to applicable law or to a writtcn waiver by I.ender, Borrower shall pay ta
<br /> � �e � l.ender on the day monthly payments are due under the Note,until the Note is paid in fuU, a surn("Funds") for: (a)ycarly taxes
<br /> and assessments which may attain priority over[his Securi[y instrument as a lien on the Property;(b)yearly leasehold paymen[s
<br /> ; or ground rents on the Property, if any;(c)yearly hazard or pro�xrty insurance premiums; (d)yearly flood insurance premiums,
<br /> if any; (e)yearly mortgagc insur�nce premiums, if su►y; and(fl any sums payable by Borrower to Lender, in accordance with
<br />;, � ' the pravisions of paragraph 8,in lieu of the payment of mortgage insurance premiums.These items are called "Gscrow(tems."
<br />-_� , � ' • l.ender may, at any timc, wllect and hold Funds in an amount not co exceed the maximum amount a lender for a federally
<br />��... . related mortgage loan may require for Borrower's escrow account under the federal Real Estate Settlement Pracedures Act af
<br />�,",.�• �. ' 1974 as amended from time to time. 12 U.S.C. Section 2601 et seq.("RBSPA"),unless another law that applics to the Funds
<br /> - sets a lesser amount. If so, Lender may, at any �iu�e, collect and hold Funds in an amount not to exceed the lesser amount.
<br /> - • • '°.�'�. Lender may estimate the amount of Funds due on the basis of current data and reasonable estimates of expendltures of future
<br /> 4� Escrow Items or otherwise in accordance with applicable law.
<br /> .-�„•. , •.- The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entiry
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<br />��` � (including Lender,if Lender is such an institutian)or in any Federal Home Loan Bank.L.ender shall apply the Funds to pay t c
<br />�.;�; s;:r � Sscrow 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 Borrower in[erest on the Funds and applicable law permits Lender to make such
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<br /> ,' � a charge. However, Lender may require Borrower to pay a one-time chazge for an independcnt rr.al estate tax reporting serv�ce
<br />'' � � ' used by Lender in conne:tion with this loan, unless applicable law provides otherw�se, Unless an agreement is made or
<br />�,�;, ,' � applicable law requires interest to be paid, L,ender shall not be required to pay Borrower any interest or eamings on the Funds.
<br /> • �'� Borrower and Lender may agree in writing, however, that interest shall be paid on the Funds.Lender shall give to Borrower,
<br /> =��.�:-�',� without charge, an annuai au;uui�ii�g of;hc Fur.d�, sl:o��:ing c!t�lira and debits to the Funds and the purpose for which each
<br />` '' ' debit ro the Funds was made.The Funds are pledged as additional securiry for all sums secured by this Securiry Instrument.
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<br />�.���:;� .., If the Funds held by Lender excced the amounts permitted to be held by applicable law, I.cnder sUall account to Botrower
<br />-"'�' for the excess Funds in accordance with the requirements of applicable law. If the amoun[oF the Funds held by I.ender at any
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<br /> 'u•-�.:Y�..';=:K time is not sufficien[to pay the Fscrow Items when due, Lender may so notify Borrower in writing,and, in such case onower
<br /> 1"' � shall pay ro L.ender the amount necessary to make up the deflciency. Borrower shall make up the deficiency in no more than
<br />�'-`•f�~� .,;:.� twelve monthly payments,at Lender's sole discretion.
<br /> �'':`^;,�,�,.;; Upon payment in full of all sums secured by this Securiry Instrument, I.ender shall promptly refund to Borrower any
<br />--"����-•`' Funds held by Lender. If,under paragraph 21, Lender shall ncquire or sell the Property. L.ender,prior to the acquisition or sale
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<br /> `�"'`�''� of the Property, sha11 apply any Eunds held by Lender at the time of acquisition or sale as a credit against the sums secur y
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<br /> u �ti;:'�; �'•'' this Security instrument,
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<br /> —_-- 3. Applicsition of Paymenis. Unless applicable law provides otherwise,all payments received by L.cnder under paragrap s
<br />�°"'�-"'"���r , 1 and 2 shall be applied; first, to any prepayment charges due under the Note; second, to amounts payable under paragraph 2;
<br /> ��'���'�"�'�� third,to interest due; fourth,to principal due; and las[,to any late charges due under the Note.
<br />"s%�•""�� 4. ChArges;Liens.Bonower shall pay all taxes, assessments,charges, fines and imposidons attributable to the Property
<br />-'�Y-���r which may attain priority over this Security Instrument, and leasehotd payments or ground rrnts, if any.Bonower shall pay
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<br />'w:;,.�' :•,t thcse obligations in the manner provided in paragraph 2,or if not paid in that manner,Borrower shall pay them on time dtrect y
<br /> j_-- %�'=��- to the person owed pa ment.Bonower shall promptly fiirnish to Lender all notices of amounts to be paid under this pazagraph.
<br /> ' •��,,�. If Borrower mal:es th��M�sidlrectly�Borrower shall promptty fumish to Lender receipts evidcncing the payments.
<br />�y4'.'�`��� ' Borrower shall promptly discharge any lien which has priority ovcr this Security Instrument unless Borrower: (a)agrees in
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<br /> writing to the payment of the obligation secured by the lien in a manner acceptable to Lender;@)contests in good faitl�the ien
<br /> ������," by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate ro prevent the
<br />-. ��µ�=�'- enforcemenr.of the lien;or (c) secures from the holder of tlte lien an agreement satisfactory to L.ender subordinating thc lien to
<br /> -,-'.^, • this 5ecurity Instzument, If L,ender determines tliat any part of the Property is subjcct to a lien which may attain priority over
<br /> ��� , , this Security instrument, I.ender may give Borrower a notice identifying the lien. Borrower shall satisfy thc lien or take one or
<br /> more of the actions set forth above within 10 days of the giving of noticc.
<br />_ Form 3028 9/90
<br />�. �� ��BHINE)tex�s�.os PBpe 2 0l B IMIUIS:
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