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<br /> ` TO�ETHER WIT�i al(the impro�emenG� .iow or hereafter erected on the pr�perty, and all e.�sements,appurtenances,and
<br /> � fixtures now or herea�`ter a part of the property. All repiacements and addiciatLS shall also be covercd by this Se.;urity
<br /> ' Instrument.All of the foregoing is refernd to in this Security Instrument as the"Property."
<br /> BORROWER COVENANTS that Bocrawer is lawfuiil seised of the estate hereby conveya3 and has the right to grant and
<br /> ; c�nvey the Froperty and that the Property is unencumbered, etcept for encurnbrances of re�.�ord. Borrower warrants and will
<br /> defend ger.;.rally the titf�to the P;operty against aii claims and demands,subject to any encumbrances of record. •
<br /> THIS SECURTPY INSTRUMENT combin�uniform covenants for national use and non-unifarm covenants with limite,d
<br /> variations h�� jurisdiction ee constitute a uniform security instrument cov�rir;g rea�property: "
<br /> UNIFORc�i COVENANTS. Borrower and Lender covenari and agree as.follows:
<br /> 1. Paytnent of PrinciEwf and Intemst; Pregayment and :.ate Charges:Borrower shall promptly pay when due the �
<br /> principai of anci interest or.the debt evidencerl by the Note and any prepayment an8 iate chatges due under the Note. �
<br /> 2. Funds for Taqes and Ymurance. Sabject to apglicable :aw or eo a written waiver by I.ender�Borrower shall pay te �
<br /> Lender on the day moathly payrrcents are due untler the Note,until the I3ote is paid in full,a sum("Funds")for: (a)yearly tazes Q
<br /> and assessmen€s which may attain priority over this Security Instrumer.t as a lien on the Property; (b)yearly leasehold payments �
<br /> or gmund renu on the Property, if any;(c)yearly hazard or pr�perty irssarance premiums; (d)yearly flood insurance premiums, Q�
<br /> if any; (e) yearly mortgage insu:ance premiums, if any; and (fl any sums payable by Bonower to Lender, in accordance �vith �
<br /> the provisions ef paragraph 8, in lieu of the payment of mortgage insurance premiums. These items are called "Fscrow Items." ;� -
<br /> Lender may, at any timc, c�llect and hoid Funds in an amoant not to ezcced the mazimum amount a lender for a fed�rally -
<br /> related mortgage loan may ret{uire for Borrower's escrow account under the federal Real Estate Settlement Pro�:edurcs Act of
<br /> 1974 as amended from time to time. 12 U.S.C. Section 2601 et seq. ("RFSPA"), unless another law that applies to the Funds
<br /> sets a lesser amoant. If so, Lznder may, at any time, collect and hold F:�nds in an amount not to ezceed the lesser amount.
<br /> L.ender may estimate the amount of Funds due�n thc basis of current data and reasonable estimates of expenditures of future
<br /> Fscrow Items or otherwise in accordance with applicable law.
<br /> The Funds shall be held in an institution whase deposiEs are insured by a federal agency, instrumcntalit�, or entity
<br /> (includir.g Lender, if L,ender is such an institution)or in any Federal Home Loan Bank. Lender shalf apply the Funds to nay the
<br /> Escrow Items. Lender may not charge Borrower for holding and applyi�g the Funds, annually analyzing the escmw account, or
<br /> verifying the Escrow items, unless L.ender pays Borrowe;interest on the Funds and applicable law permits Lender to make such
<br /> a charge. However, i.ender may require BorroK�er to pay a one-time charge for an independent real estate tax reporting service
<br /> used by L.ender in connzction with this lc�an, unless applicable law provides otherwise. Unless an agreement is made or
<br /> applicable law requires ir.terest to be paid, Lcnder shall not be required t�pay Borrower any interest or earnings on the Fun�Js.
<br /> Borrower and I.ender may agree in writirtg, however, that i,r,ierest shall be paid on the Funds. Lender shall give to Bc�rrower,
<br /> without charge, an annual accounting of the F�s�s, 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 amo�nts permitt� to be held by aPplicabte law, L,Ander shall account to Bc�rrower
<br /> for the excess Funds in accordance with the requirements of ap�licable law. If the amount of the Funds held by Lender at any
<br /> time is not sufficient to pay the Escrow ltems wher due, Lender may so notify Borrow�r in writing, and, in sueh case Borrower
<br /> shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up ehe deficiency in no more than
<br /> twelve monthly payments, at Lender's sale discretion.
<br /> Upon payment in fuil af all sums secured by this Security Instrument, lxnder shall prompdy refund to Borrc�wer any
<br /> Funds held by Lender. If, under paragraph 21, L.ender shall acquire or sell the Property, Lender, prior to ihe acquisition or sale
<br /> of the Property, shall appiy any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured b}+
<br /> this Security Instrument.
<br /> 3.Apptication of Payments. Unless applicable law provides otherwise,ai� paymer.ts received by Lender under paragraphs
<br /> 1 and 2 sF�ali b�applied: first, to any prepayment charges due under the Note; sr.cor.d, to amounts payable under paragraph 2; `
<br /> third, to interest due; fourth, tc�principa!due;and last,to any late charges due under the Note.
<br /> 4. Ch�rges; Li�ns. Borrower shall pay al1 taxes, assessments, charges, finFs and impositians altributable ta the Pm,cny
<br /> whicii may attain priority over this Security [nstrument, and leasehold payments or ground rents, if an�•. F3orrower shall pay
<br /> these��ligations in the manner provided in paragraph 2,or if not paid in that manner, 5nrrower shal! pay them on time direct�y
<br /> to the�rerson owed paymer,t. Borrower shal! promptiy fumish to Lender al! notices of amounts to be paid under this p;iragraph.
<br /> ` • lf Borrower makes tnese payments directly, B��rrower shall prr�mptiy iurnish ro Lender receipts evidencing the payments.
<br /> +' Borrower shall prompNy discharge any lien�vhicft has priority over this'Security]nstrvment unless Bo�rower: (a1 agrees in
<br /> writing to the payment of the obligation secured by the lien in a manner accep,abie to L.en�er, (b}contests in good taith the lien
<br /> � 6y, or defcnds against enforcement af tFe lien in, legal proceeclings which in the Lender's opinion aperzte to prcvent the
<br /> ;, en€orcement of the lien; or(c) secures from the holder of the lien an agreement sa.isfactory to Lender subordinating the lien to
<br /> �` this Security Insirument. If Lender determines that any part of the Property is subject ro a fien wl7ich may attain prioriry over
<br /> - this Sec�riry Instruvnent. Lender may give Borro�ver a notice identifying the lien. Borrower shall satisfy the lien or ta�e one or
<br /> � more of the actions set fnrth above�vithin t0 days of the giving of noticr.
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<br /> ��- Form 3028 9/90
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