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JUN 27 '00 09:48RM WILLSON & PECHRCE;K P.3
<br />2000095'75
<br />THIS SECURITY INSTRUMENT combines uniform covenants for naticrial use and non - uniform covernants with
<br />ilmkod varledons by jurisdiction to constitute a uniform security Instrument covering real property.
<br />UNI FORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest; Prepayment and Late Changes. Borrower shall promptly pay when due
<br />NM
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the
<br />2. Funds for Taxes and Inaurence. Subloa to appllable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly payments are due under the Note, ureil the Note is paid in full, a sum ("Funds! for. (a)
<br />eyeaerAlyy texas and aseaeamerw whkh may attain priority aver this Seourlty Instrument as a Ilea on the Property; (b) yearly
<br />(eas tite(riy payments orground ttNlte on flue Properly, y any; (o) yaady hazard or property Insurance premiums; (d)
<br />Yearly flood Insurance premiums, if aan�d (ej year! mottgepe Insuranee�remtums, li any, and M any sums payable by
<br />Borrower to !soda. In accordance with the pravlons of parag,hh & rn Iles of the payment of mortgage insurance
<br />premiums• These items are called 'EStxow sterns' Lender may, at any time, collect and hold Funds in an amount net to
<br />exceed the rna7drmtm amount a lender for a federally related mortgage loan may ra�ulre for Borrower's escrow account
<br />under the federal heal Estate Settlement Procedures Act of 1974 es amended from time to time, 12 U.S.C. 92601 et
<br />seq. ('RESPA�, unless another law that applloe ro site Punts sets a laser amount. It so, Lender may, at any time. collect
<br />and hold Funds In an amount not to emceed the Terser amount. Lender may estimate the amount of Funds due on the
<br />basis of ciurrnM data and reasonable estimates of Mtpendltures of future Escrow Items or otherwise in accordance with
<br />appllcable law.
<br />The Funds shall be held in an-institution whose deposits are Insured by a federal agency. instrumentality. or entity
<br />(Indudlrg Lander, If Lender Is such an Institution) or In any Federal Home Loan Bank. Lender shall apply the Funds to
<br />pay the Escrow Items. Lander may not charge Borrow for holding and applying the Funds, annually analyzing the
<br />escrow account, or verifying the Escrow Items, unless Lender pays Borrower Interest on the Funds and applicable law
<br />permits Lender to main such a charge. However, Lender may require Borrower to pay a one-time charge for an
<br />Independent real astate urns reporting servfcv used by Lender in connection with this loam. unless applicable law
<br />provides otherwise. Unless an agreement Is made or applicable law requires Interest to be paid, Lender shall not be
<br />requlnd to pay Borrower any Worst or earnings on the Funds. Borrower and Lender may agree in writing, however,
<br />that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the
<br />Funds, showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The
<br />Funds are pledged as additional security for all,aues secured by this Security Instrument.
<br />If the Funds held by Leader mined the amounts pormitted to be held by applicable law, Lander shall account to
<br />Borrower for the awe" Funds in accordance with the requirements of applicable law. If the amount of the Funds held
<br />by Lender at any time Is not sufficient to pay the Escrow iterna when due, Lender may so notify Borrower In writing,
<br />and, in such case Borrower shall pay to Lender the amount necessary to snake up the deficiency. Borrower shall make
<br />up the deficiency In no more than twelve monthly paymedlts, at Lender's sore discretion.
<br />Upon payment in full of all surfs sac" by this Security Instrument. Lender shall promptly refund to Borrower any
<br />Funds held bar Lender. If, under paragraph at, Lender shall acquire or sell the Property, Londe, prior to the acquisition
<br />or sale of the Pmperty, shall apply any Founds held by Lander at the time of acquts7tIon or sale as a credit against the
<br />sums secured by this Seaft Instrument
<br />9. Application of Psynteate. Unless applicable taw provides otherwise, all payments received by Lander under
<br />paragraphs t and z shall be applied: firs; to any prepayment charges due under Iota r� �d d, to amounts s payable
<br />under paragraph 2: third, to interest due; fourth, to principal due; and last,. any gee
<br />4. Cher�set UWA6 Borrower "I pay all harm, aaaessments, charges, fines and imposition attributable to the
<br />Property which may again priority aver this Sectuilyllrunmen; and leasehold payments or ground rents, if arty•
<br />Borrower shall pay these obligations in the manner provided In paragraph 2, or M not paid In that manner, Borrower shell
<br />pay them an time dkartly to the person owed payment Borrower shall promptly furnish to Lender all notices of
<br />amounts to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to
<br />Lender recelpts evidencing tha payments
<br />Borrower shaft promptly diacbsrpI Ran which has ppr�iority over this Security I nstrumeM unless Borrower, (a)
<br />agrees in writing to the payment of the=M lion secured oYthe lien in a manner acceptable to Lender; (b) contests in
<br />good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion
<br />operate to prevent the enforcement of the Ilea or (c) nocures hem the holder of the lien an agreement satisfactory to
<br />Lender subordinating the Ilan to tftfs Security Instrument; If Lander determines that any part of the Property is subject to
<br />a lien which may attain priority over this Security Inettu rem tender may give Borrower a notice Identifying the Ilan.
<br />Borrower shall satisfy the lien or We one or more of the actions set forth above within 10 days of the gMng of notice.
<br />S. Haard or Property Insurance. BorrowersheR keep the Improvements now oxistinp or hereafter erected on the
<br />Property insured against lose by firs, hazards included within the tarm'eoaanded coverage and any other hazards,
<br />Including floods or flooding, for which Lender requires Insurance. Thb Insurance shall be maintained in the amounts and
<br />for the periods that Lender requires The insurance carrier providing the Insurance shall be chosen by Borrower subject
<br />a Lender's approval which shall not be unreasonably withheld. If Borrower falls to maintain coverage described above,
<br />Lender may, at Lender's option, obtain coverage to protest Lender's rights in the property In accordance with
<br />)111 ph 7.
<br />)WOM 1n►.ae1GIZ FAM LV- F111N/FNLMC YNMRM INSTRUMENT FORM 9020 9/40 _
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