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<br /> TOGETHER WITH all the irnprovements now or herea_Rer erected on the property,and all easements,appurtenances, �.�d
<br /> fiztures now or �t�eafter a part of the properry•. AJl replacemeacs and additions shail a(so be covered by this Security
<br /> Iactrument. All of the foregoing is referrcd to in this Security Instrumeni as the"Ptnperty "
<br /> RORROVI%ER CUvENANTS that Borrower is lawfully scised of the estate hereby conveyed and has thc rig6t ro grant and
<br /> convey the Property and t6at the Property is unencumbeced�e�ceFt for encumbrances of rxord. Borrower a,arrants and will •
<br /> defend generally che tide to the Pmperty against all claims and demands,subject to any encumbranc.�s of record.
<br /> 'THIS SECURITY INSTRUMENT combines uniform covenancs for national �ue and non-uniform covenants with lisnited
<br /> varia;ions by jurisdiction to constitute a uniform sezurity instn�ment covering real properiy.
<br /> UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br /> 1. Pssyment of Principal and Interes�t, Prepayment and Y.ste Charge5: Borrower shall prompily pay v�hen due the �
<br /> principal of azid interest on the debt evidenced by the Note and any prepayment and late charges due und�r the Note.
<br /> 2. F�nds for Taxes and Iasurance. Subjxt to applicable,law or to a written waiver by I.ender, Borrower shall pay to
<br /> Lender on the day monthly payments are due undor the Note,until the Note u pald in Psll,a sum("Funds')for: (a)yearly tazes
<br /> ar,d assessments which may attain priority over this Security Instrument�c a lien on the Property; (b)yearly leasehold payments
<br /> or ground rents on che F'ropcny, if an,y; (c)yeuly haard or gropert;insurance premiums;(d)ye.ady flood insurance premiuri►s,
<br /> if any; (e)yearly morrgage insurance premiums, if any; and (�,any sums payable by Borrower to I.ender, in accorda.nce with
<br /> the provisions of paragraph 8, in lieu of�he payment of mortgage insuraace premiums. Thest items are calied •Fscrow Items." •
<br /> Lender may, at ary time, collect and hpld Funds in an aanouni not to e�cee� the maximum amount a lender for a federally
<br /> reiated mortg�ge laan may require for Borrower's escrow account under the federal Real Estate Setdemtnt Procetures pct of
<br /> 1974 as amended from time to time, 12 U.S.C. Section 2601 et seq. ("RFCAA•�� u���other law that applies to the Funds
<br /> seu a lesser amount. lf so, Lender may, at any time, c�llect and hold Fuads in an amount not to exceed the iesser amuant.
<br /> Lecder may �stimate the amoant of Funds due on the bas�s of curitnt data and reasonable estimates of ezpenditures of future
<br /> Fscrow Items or otherwise in accordance with applicable law.
<br /> The F-ands sha?1 be held in an institution whose drposits are insured by a federal agency, instrumentality, or entity
<br /> (including Lender, if Iznder is such an institution)or in any Federal Home Loan Bank, I,ender shall apply the Fands to pay the
<br /> F.scrow Items. Lender may not charge IIcrrow•er for holding and applying the Funds, annually analyzing the escrow account,or
<br /> verifying the Escrow Items,unless I,ender pays$orrower interes;on the Funds and applicable law permics L,ender to make such '
<br /> a charge. However, I.en�er may require Borrower to pay a one-time charge for an indepenricnt rea!estate tax repott�ng szrvice
<br /> used by Lender in connection with this ioan, unless applicable law provides othenvist. iJnless an agrcement is made or
<br /> applicable law requires interat to be paid, lr_nder shall not be required to pay Forrower 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 chazge, an annuai accour,ting of the Funds, showing credits and debits to ihe Funds and the purpose for which each
<br /> de6it to the Funds was made.The Ftuids are pledged as additioaal security for all sums secured by this Security Instrument.
<br /> If the Fun3s held by�Lender cxceed the amounts permittec�to be held by applicable law, Lender shall account to Borrower
<br /> for the cxcess Funds in accordance with the requirements of applicable law. If the amount of the Funds held by Lender at any
<br /> time is not sufCcient to pay the Escrow Itemt when due, Lender may so notify Borcower in writing, and, in such case Bon�wer
<br /> si�all pay to Lender the ur,onnt necessary to make up the deficiency. Borrower shall make up the deficiency in no more than
<br /> ,welve mor.thiy payments,at Lender's soie discretion.
<br /> U�en payment in full of all sums secured by this Security Instrument, L.ender shail promptly refund t� Borcower any
<br /> Funds held by l.ender. If, under paragraph 21, Lender shal�.asquire or sell the Property, Lender,prior to the acquisition o;sale
<br /> of the Property, shall apply any Funds t�eld by lznder at the time of acquisition oc sale as a c;edit againsc the sums secut�ci by
<br /> this Security Instrument.
<br /> 3. App�ication of Payments. Unless applicable law provides od�etwise, all payments received by i.ender under paragraphs
<br /> 1 and 2 shall be applierl: first, to any prepayment charges due under the Note; second, to amounts payabl�under paragraph 2;
<br /> third,to interest due; faurth, te prir.cipal 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 priorz.ry over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay
<br /> thcse obligatiuns in the manner provided in paragraph 2,or if not paid in that manner, Borrower shall pay them on time directly
<br /> to the person oHCd payment. Bormwer shall promptly furnish to Lender all notices of amounts to be paid under this paragraph.
<br /> if B�rrower makes these payments dirc�.tly, Borrower shall prompdy furnish ta Lender receipts evidencing the payments.
<br /> Borrower sha;l prum�ptly dis:��ge�any(ien which has prio:ity over this Security Instcument unless Borrower: (a)agree;.in
<br /> avciting to the payment al�the oblig5cion secured by the lien in a manner acceptable to L,ender;(b)contests in good faith the lien
<br /> by, or defends against enforce�nent oi t?;2 lien in, lega! proceedings which in the Ix�der's opinion operate to prevent the
<br /> enforcement of�he lien; c�r(c) secures from the hold�r of the lien an agreement satisfactory to L.ender subordinating the lien to
<br /> this 5ecuriry Instrument. If Ixnder determines that any part of the Property is subject to a lien which may atta;n priority over
<br /> this SPcurity Instrurnent, Ixnder may give Borrower a notice identifying tho lien. B�rrower shal!satisfy the lirn or take one ot
<br /> more of tht actions set fort,�above wethin 10 days of the giving of noCice. •
<br /> ��6R(NE)iexiz�.oz Form 3028 9/90 �
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