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<br /> TOGE'fHER WITH all the imorovements now or hereafter erectal on the property, and all ease�nents, appurtenances, and
<br /> fixtures now on c�:e:dter a part % the property. All replacements and ad.ditions sl�all also be covered by this Security
<br /> Instrument. All of the foregoing is;�•;erred eo in this Security Instnunent as the"Property."
<br /> BORROWER COVENAP�TS tuat Borrower is lawfully seised of the rstate hereby conveyed und I:as the right to grant and
<br /> convey the Property and that the Prop;rty is unencumbered, exccpt for encumbrances of record. Borrower warrants and wili
<br /> defend generally the title to the Property agai�st all cla'sms and demanrls, subject to any encumbrances of record. �
<br /> THIS SECURIT"1' INSTR!JMENT combines uniform covtn.unts for national use and non-uniform covenants wilh limitai
<br /> variations'�y jurisdiction to constitute a uniform security instruntent covering reat property. �
<br /> UNIFORM CO`lENANTS. Borrower and Lender cnvenant and agree as'follows: .y
<br /> 1. Payment o[ Principal and Interest; Prepayment and Late Charges.oBorrower shall promptly pay when due the �
<br /> principal of and interest on che debt eviden�xd by the Note and any prepayment and tate charges due undar the Note. �
<br /> 2. Funds for Taxes and Insurance. Subject to appiicable law nr to a written waiver by Lendcr, IIorrower shall pay tii� _
<br /> Lender on the day monthty payments are due under the Plote,unril ihe N;,te i5 paid in full,a sum("Fundt") for: (a)ysarly taxes v d
<br /> and assessments which may attain priority over this Security Instrument as a lien on the Property; (b)yearly leasehold payments�+
<br /> or groand rents on the Property, if any; (c)yearly ha7ard or property insuranae premiutns; (d)yearly flood insuranc�premiutns,�
<br /> if any; (e) yearly mortgage insurance premiums, if any; and (� any sums payable by �orrower to I.ender, in accordance with
<br /> :;ze provisions of paragraph 8, in lieu of the payment of mortgage insurance premiurns. These it�ms are r�lled "Escrow ltems."
<br /> Lender may, at any time, collect and hold Funds in an amount not to excead the ma�cimum a�nount a lender for a federaliv
<br /> t�lated mortgage loan may require for 3errower's escrow acceunt under the federal Real £state Settlerneat Procedures Act of
<br /> 1974 as arrwnded from time to time, 12 U.S.C. Section 2601 et seq. ("RE5PA"), unless anather law that applies to the Funds
<br /> sets a iesser amount. If so, L,encier may, at any time, collect and hold Funds in an amouat not to exceed the lesser amount.
<br /> l.ender may estimatc the amount of Funds due on the basis of current ciata and reasonable estimatcs of expenditures of future
<br /> Escrow Items or otherwise in accordance with applicable law.
<br /> The Funds shali be held in an ir�;titution whose depo�its are insur�d by a feiieral agency, instrumentality, or entity
<br /> (ir.cluding Lender, if I.�nder is su�h an institutian)or in any Federal I-Iome[,oan Banl:. Ixnder si�all apply the Funds to pay the
<br /> Escrow Items. Lender may not charge Bonower for halding and applying the Funds, annually analyzing the escrow account, or
<br /> verifying the Escrow Items, unlcss Ixnder pays Borrower interest on the Funds and applicabte law permits L.ender to make such
<br /> a charge. However, Lender may require Borrower to pay a one-time charge for an inc:ependent real estate tax reporting service
<br /> used by Lendar in connection with this loan, unless applicable law p!-ovides otherwise. Unless an agreement is made or
<br /> applicable law requ?res interest tn be paid, Lerdzr shall �ot b:,required to pay Borrower any interest or earnings on the Funds.
<br /> Borrower and Lender may agree in writing. however, that interest s�aU be paid on the Funds. I.ender shal( give to Borrower,
<br /> witho�it 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 tivas made. The Funds are pledged as additionai security for all sums secured by this Security Instrument.
<br /> If the Funds held by Lender exceed the arnounts pern�itted to be held by applicable law, Lender shall account to Boreower
<br /> for the excess Funds in accordance with the requirem�nts of applicable law. If the amount of the Funds held by Lender at any
<br /> time is not sufficient to pay the Escrow Items when due, Lender may so notify Borrower in writing, and, in such case Borrower
<br /> shall pay to Lender the a.mount oecessary to make up [he deficiency. Bonowe�r shall mai:e up the deficiency in no more than
<br /> twelve monthly payments,at L.ender's sole discretion.
<br /> Upon payment in full of all sums secured by this Security Instrument, Lender shall protnptly refund to Borrower any
<br /> Funds held by L.ender. if, under paragraph 2l, Lender shal(acquire or sell tl�e Property, Lender, prior to the acquisition or saie
<br /> of the Praperty, shall appiy any Fund� held by Lender at the time of acquisition or�ale as a credit against the sums secured by
<br /> this Security Instrument.
<br /> 3. Application of Payments. Unlrss applicable law provides otherwise, all payments received by Lender under paragrzphs
<br /> 1 and 2 shall be applied: first, io any prepayment charges due under the Note; se�ond, to amounts payable under paragraph 2;
<br /> third, ro interest due; fourth, to principal due; and lust, t�any late charges due under the Note.
<br /> 4. Charges; Liens. Borro�ver shall pay alf taxes, assessments, charges, fnes and impositions attributable to the Property
<br /> which may attain priority over this Security tnstrument, and leasehold payments or ground rents, if any. Borrower shal! p2y
<br /> these obligatiors in the manner provid;�in paragraph 2, or if not oaid in that manner, Borrower shalt pay them on time directly
<br /> to the person owed payment. Burrower shal! prompily furnish to L.endPr all notices of amounts to be paid under this paragraph.
<br /> 1f Borrower makes these payments directly, Borruwer shal(;promptly furnish to Lender receipts evidencing the payments.
<br /> Borrower shall pron<ptly discharge any lien which has�riority over this Secur�ty Instrument unless Borrower: (a)agrees in
<br /> writing to the payment of the obligation secareci by the lien in a manner acceptable to L,ender; (b)contests in good faith the lien
<br /> by, or defends zgainst enforcement flf the lien in, le�at proceedings which in the Lender's opinion opente ro prcvent the
<br /> enforczment of thc lien; oe(c) secures from the ho(der of the lien an agreement satisfactory to Lender subordin�ting thc lien tu
<br /> this Secu;i,y Instn�ment. If i.cnder determines that any part ot the Froperty is subject to a lien whicn may attain priority over
<br /> this Security lnstrumcnt, C.ender may give Borr�wer a notice identifying the lien. Borcower shall satisfy the lien or take one or
<br /> more of the actions set forth above wichin 10 days of the giving of notice.
<br /> Form 3028 9/90
<br /> Pege 2 of 8
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