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<br /> TOGETHER WITH all the improvemenu n�w or hereafter ere�ted on ihe property, and all easements, appurtenances, and
<br /> fixtures now ar heceafter a part of thr property. Ali replacements and additions shall silso be covened by this Security
<br /> Inseniment. Al(of the foregoing is referred to ire this Sec�rity Instrument as the"Property."
<br /> BORROWER COVENANTS tiiat Borrower is laeufully seised of the estate hereby conveyed and has Ihe right to grant and
<br /> convey the PreP�rty an� that the Property is unencumbered, exce�t fcr encumbrances of recorcl. Borrower warrants and wilt
<br /> defend general�y th�tide Eo thc Property against alt claims anti demands,subject to any encumbrances of record. •
<br /> T}�IS SEr,�'I;RITY INSTRUL7ENT combines uniform covenan�s For national use and non-uniform covenants widi ]imited
<br /> variatior.s by jurisdiction to constitute a tmiiotm security instrum�nt covering real pronerty.
<br /> UNI�ORIvti CO��ENAPdTS. Borcower and L.ender covenant and ngree as follows:
<br /> 1. Pavmen3 of Yrincipa� ared Interes?; Prepaymert and Late Chflrges. Borrower shall promp�tly pay when due the
<br /> principal of and inrer�.,t or,the debt evidenced by the Note and any prepayment aricl (ate charges due under tfic Note.
<br /> 2. Funds far Taxe_� and :nsurance. Subiect to apnlicabie law or to a written waiver by Ixnde�, Borrower shall pay to
<br /> Lender on the day monthly payments are due under the Note,until the Note is paad in full,a sum("Funds") for: (a)yearly taxes
<br /> and assessmerts which may attain prioriry over this�ecurity tnstrument as a li�n on the Property; (b)yeariy leasehoid payments
<br /> or ground rents on:'r�e Property, ii ary; (c)yearly haza.rd or property ir,surance premiums; (d)ye:uly flood insurance premiums,
<br /> if an�; (e) year;y mortgage insurance premiums, if any; and (� any sums payable by Bortower to Lender, in accordance with
<br /> the provisicns of paragraph 8, in lieu of the paymenrt of mortgage insurance premiums. These items are callecl "Escrow Items." ,
<br /> Lender may, at any time, coflect and ho:d Funds in an amount not to excee�i the maximum amount a lender for a federally -� �
<br /> related mortgage ioan may require far Bot �wer's eserow account under the iederal Real Estate Settlement Procedures Act of _9
<br /> 1974 as amended from time to time, 12 U.;..�. Sectic�n 2601 et seq. ("RESPA"), unless another law that applies to the Funds �
<br /> sets a lesser amount. If so, L.ender may, at ang time, colleci and hold Funds in an amour.t not to exceed the lesser amount. �
<br /> L,ender may estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Q
<br /> Escrow Items or otherwise in accordance with applicable law. �
<br /> ThP Funds shall be held in an institution whose depo5its are insured by a federal agency, instrumentality, or entity
<br /> (includin�L.cnder, if Lender is such an snstitution)or in an�+ Federal Home Loan Bank. Lender sha11 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 Escrotiv Items, un(ess Lender pays Borrower interest an the Funds and app[icable law permits Lender to make such
<br /> a charge. However, Lender may require Borrower to pay a one-time charge for an independent real estate tax reporting service
<br /> used by Ixnder in connection with this ;oan, unless applicable law provides otherwise. Unless an agreement is made or
<br /> appiicable law requires interest to t�e paid, Lender shail 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 pai� on the Funds. Lender shal! give to Borrower,
<br /> without charge, an annual accounting of the Funds, showing credits and debits to the Funds and the pur�x�se for which each
<br /> debit to the Funds was made. The Funds are pledged as additional security for all sums sscureci by this Security )nstrument.
<br /> lf the Funds held by Lender exceed the aniounts permitted to be held by applicable law, Lender shall account to E3orrower
<br /> for the excess Funds :n accordance with the reGuirements of applicable law. 16 the amoant of the Funds held by Lender at any
<br /> time is not sufficient tc pay the Escrow Items ahen due, Lender may so notify Borrower in writing, and, in such case Borrower
<br /> shal{ pay ro Lender the amount necessary to make up the deficiency. Borrower shall make up the defic:iet�cy in no more than
<br /> twelve monthly payments, at Lender's sole c�iscretion.
<br /> Upon payment in fufi oi' all sums secured by this Securiiy Instrument, Lender shall promptly refund to Bormwer any •
<br /> Funds held by L.ender. If, under paragraph 21, Lender shall acquire or sell the Property, Ixnder, prior to the acquisition or sale
<br /> of the Property, shall apply any Funds held by Lender at the time of acquisition or sale aa a credit against the sums secured by :r y
<br /> this Security Instr�ment. ,
<br /> i� 3. Application af Paymenis. Unless app?icable law provides otherwi��, ali payments received by Lender under paragrapl�s ' -
<br /> 1 and 2 shall be applied: first� to any prepayment charges due under the Note; tecond, to amoun�s payable under paragraph 2;
<br /> third, to interest due; fo�rch, to principal due; and last, to any late rharge��due under the Note.
<br /> 4. Charges; Liens. Borcower shall pay alt taxes, assessments, charges, fines and impositions attributable to the Property
<br />� which ir;ay attain priority over this Security Instrument, and lea�ehold paJ•ments or ground rents, if any. Borrower shall pay
<br /> E these obligations in the manner provided in paragraph 1, or if not paid in that rnanner, Borrower shall pay them on time directly
<br /> tn the person owed payment. Borrower shall prompdy furnish to Lender all notices of amc�unts to be paid under this paragraph.
<br /> If Borrower makes these payments directly, Borro�ver shall promptly Furnish to Lender receipts evidencing the payments.
<br />� Borrower shall peompNy dischargc any lien which has priority over this Security Instrument unless Borrowcr. (a}�grces in
<br /> Fwriting t�the payrcrent of the obligation secured by the lien in a manner acceptable ro Lender, (b)co�itests in gocxl faith the lien
<br />�� by, or defends aeainst enforcemeni of the lien in, legal proceedings which in lhe Lender's opinion operate to prevent the
<br /> enforcement of the lien: or (c) secures f�om the holder of the lien an agreement satisfactory to Lender subordinating the lien to
<br />� this Security lnswment. If Lender determines that any part of the Properry is subject to a lien w`�ich may ��ttain priority over
<br /> this Security instrurr�ent. Lender may oive Borrower a notice identifying the lien. Borrowcr shall satisfy the lien or take one or
<br /> more of the actions set forth above within 10 days of the giving of notice.
<br /> Form 3028 9l90
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