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<br /> TOGETHERWITH all the improvementsnow or hereaftererectedon the property, and all easements,appurtenances,and
<br /> fi�ures now ar hereafter a part of the property. All replacements and additions shall also be covered by this Security
<br /> Instrument.All of the foregoing is referred to in this Security Instrument as the"Property."
<br /> BORROWERCOVENANTSthat Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and
<br /> convey the Property and that the Property is unencumbered,except for encumbrances of record. Borrower warrants and will
<br /> defend generally the title to the Property against all claims and demands, subject to any encumbrances of record.
<br /> THIS SECURITYINSTRUMENTcombines uniform covenants for national use and non-uniform covenants with limited
<br /> variations by jurisdiction to constitute a uniform security instrument covering real property.
<br /> UNIFORMCOVENANTS.Borrower and Lender covenant and agree as follows:
<br /> 1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due the
<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 Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall 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)yearly t�es
<br /> and assessmentswhich may attainpriority over this Security Instrumentas a lien on the Property; (b)yearly leaseholdpayments
<br /> or ground rents on the Property,if any; (c)yearly hazard or property insurancepremiums;(d)yearly flood insurance premiums,
<br /> if any; (e)yearly martgage insurance premiums,if any; and(f) any sums payable by Borrower to Lender, in accordance with
<br /> the provisions of paragraph8, in lieu of the payment of mortgage insurance premiums.These items are called"Escrow Items."
<br /> Lender may, at any time, collect and hold Funds in an amount not to 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 ProceduresAct of
<br /> 1974 as amendedfrom time to time, 12 U.S.C. Section 2601 et seq. ("RESPA"), unless anotherlaw that applies to the Funds
<br /> sets a lesser amount. If so, Lender may, at any time, 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 expenditures of future
<br /> 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 entity
<br /> (including Lender,if Lenderis such an institution)or in any FederalHomeLoan Bank.Lender 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 Barrower interest on the Funds and applicable law permits Lender to make such
<br /> a charge. However, Lender may require Borrower to pay a one-time charge far an independentreal estate tax reporting service
<br /> used by Lender in connection with this loan, unless applicable law provides otherwise. Unless an agreement is made or
<br /> applicable law requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings 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 annual accounting of the Funds, showing credits and debits to the Funds and the purpose for which each
<br /> debit to the Funds was made.The Funds are pledged as additional security for all sums secured by this Security Instrument.
<br /> If the Funds held by Lender exceed the amounts permittedto be held by applicable law, Lender shall account to Borrower
<br /> for the excess Funds in accordancewith the requirementsof applicable law. If the amount of the Funds held by Lender at any
<br /> time is not sufficient to pay the Escrow Itemswhen due, Lendermay so notify Borrowerin writing, and, in such case Borrower
<br /> shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than
<br /> twelve monthly payments, at Lender's sole discretion.
<br /> Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any
<br /> Funds held by Lender.If, under paragraph2l, Lender shall acquire or sell 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 credit against the sums secured by
<br /> this Security Instrument.
<br /> 3. Application of Payments. 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 paragraph2;
<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 t�es, assessments,charges, fines and impositions attributableto the Property
<br /> which may attain priority over this Security Instrument,and leasehold payments or ground rents, if any. Borrower shall pay
<br /> these obligations in the mannerprovided in paragraph2, or if not paid in that manner,Borrower shall pay them on time directly
<br /> to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph.
<br /> If Borrower makes these payments directly,Borrower shall promptly furnish to Lender receipts evidencing the payments.
<br /> Borrower shall promptly discharge any lien which has priority over this Security Instrumentunless Borrower: (a)agrees in
<br /> writing to the payment of the obligation securedby the lien in a manneracceptableto Lender;(b)contests in good faith the lien
<br /> by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the
<br /> enforcementof the lien; or (c)secures from the holder of the lien an agreementsatisfactory to Lender subordinating the lien to
<br /> this Security Instrument.If Lender determinesthat any part of the Property is subject to a lien which may attain priority over
<br /> this Security Instrument,Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien ar take one or
<br /> more of the actions set forth above within 10 days of the giving of notice.
<br /> Form 3028 9/90
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