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200006898 244900511
<br />TOGETHER WITH all the improvements now or hereafter erected on the property. and all casements. appurtenances, and
<br />fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Irsurrment.
<br />All of the foregoing is referrer to in this Security instrurreat as the 'Property.' and has the t m and
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed right €rant
<br />convey the Property and that the Property is unewimbered' 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 SECURITY LNSTPUMEN'T combines uniform dpveEa= for national use and non - uniform covenants with limited
<br />variations by jurisdiction to constitute a uniform security instrument covering real property.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: when d the
<br />1. Payment of Principal and interest; Prepayment and Late Charges. Borrower shall promptly Pay du--
<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 Not% until the Note is paid in full, a sum ('Funds') for: (a) yearly taxes
<br />read 'easehoid payments
<br />and assessments which may attain priority over this Security Instrument, as a lien dxi the Property: (b) yearly . paymen
<br />or ground rents on the Property, if arty; (c) yearly hazard or property insurance premiums: (d) yearly flood insurance premiums. if
<br />any; (c) yearly mortgage insurance premiums, if any, and (f) any nutria payable by Borrower to Lender, in accordance with the
<br />provisions of paragraph 8, in lieu of the payment of mortgage insurance premiums. These items are called 1 -scrow 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 related
<br />mortgage loan may require for Borrower's escrow account under the fedetal Real Estate Settlement Procedures Act of i9?4 as
<br />amended from tittle to time, 12 U.S.C. Section 2601 ef seq. ('RESPA'). unless another law that applies tc• the Funds sets a lesser
<br />amount. If so. Lender may, at any time, collect and hold Funds in an anxxi t not to exceed the lesser amotmt. [.ender may
<br />estimate the amour: of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow :,erns or
<br />otherwise in accordance with applicable law.
<br />The Furls shall be held in an institution whose deposits are insured by a federal agency, insirizmeualiry, or entity (including
<br />Lender, if Lender is such an institution) or in any Federal Home Loan Bank_ Lender shall apply the Funds to pay the Escrow
<br />Items. Lender may not charge Borrower for holding and applying the F• ands, annually analyzing the escrow account, or verifying
<br />the Escrow Items, unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge.
<br />However, Lender may require Borrower to pay a one -time charge for an independent real estate tax reporting service used by
<br />Lender in connection with this loans, unless applicable law provides otherwise. Unless an agreement is made or applicable law
<br />requires interest to be pr,;:i, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and
<br />Lender may agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an
<br />annual accounting of the Funds, showing credits and debits to the Funds and the purpose for which each debit to the Funds was
<br />made. The Funds are pledged as additional security for all sums secured by this Security Instrument.
<br />if the Funds hero by gender exceed the amounts permitted to be held by applicable law, Lender shall account to Borrower for
<br />the excess Funds in accordance with the requirements of applicable law_ If the amount of the Funds held by Lender at any time is
<br />not sufficient to pay the Escrow Items when due, Lender may so notify Berrower in writing, and. in such case Borrower shall pay
<br />to Lender the amount necessary to snake up the deficiency. Borrower shall make up the deficiency in no more than twelve
<br />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 Funds
<br />held by Lender. If, under paragraph 21. Lender shall acquire or sell the Propem,+, I ^nder, prior to the acquisition or sale of the
<br />Property, shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by this
<br />Security Instnirnent.
<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 urider paragraph 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 taxes, assessments, charges, fines and impositions attributable to the Property
<br />which may attain priority over this Security Instrument, and leasehold paymt ass or ground rents, if any. Borrower shall pay these
<br />obligations in the manner provided in paragraph 2, or if not paid in that manner. Borrower shall pay them on time directly to the
<br />person owed payment. Borrower shall pr3mptly furnish to Lender all notices of amounts to be paid under this paragraph. If
<br />Borrower makes these payments directly, Borrower shall promptly furnish to Lender receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has r:-iority over this Security Instrument unless Borrower: (a) agrees in
<br />writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests ir 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 />enforcement of the lien: or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to
<br />this Security Instruriient. if Lender determines that any part of the Property is subject to a lien which may attain priority over this
<br />Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more
<br />of the actions set forth above within 10 days of the giving of notice.
<br />Form 30^23 9/90
<br />- 6N(NE) (9.o3).ot woe 2 w e manors: kel-
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