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<br /> TOC3BTHER WITH �II the improvemante now or hore�tter ereoted on the pro y� md �II eaement�,
<br /> �ppurtemnca,�nd tiaturoe�ow or Iwnedter�prt of the property.Ali ropi�cemenu�nd add tiorus�hall d�o be oovarod
<br /> by thlsl�eourity In�ument.All ot the foro�oin�is rotenrd to in thi�Seourlty Imtrument�the"Pmparty.'
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<br /> BORRAWBR GOYBNMi7�S that Borrower is I�Ntuily�eised of the ataee heroby conveyed md h�s the riQht w
<br /> �nt �nd convey the Property�nd th�t the Property ie untlnoumborod,oxcopt tor enaumbrancea ot rocord. Borrower
<br /> - M+�rrante and will detend�enenlly the title toehe Property���inet all cl�ime and demmde,eubject w any enaumbran�x�
<br /> oi rocord.
<br /> THIS 8E(:URl7'Y INSTRUMBNT combinea unitocm coven�nta tor n�tion�l uee ind nonvnitorm coven�nta with
<br /> , ,��;4�;;;�i:;, limited varlstions by juriediction to wnetitute a unito�m exurity instromrnt coverin�real pmperty.
<br /> • > UNIFORM COVBNANT5.Barrowar snd I.enJnr cuvenpnt�nJ a�non as tollows:
<br /> '��t;�w�.,.b•:�� 1.P�yment ot Principal and Interest;Prepayment aod I.ate Ch�r�e9.$orcower ehall promptiy p�y when due
<br /> the principd ot rnd intorest on tho dobt evidenced by the Note�nd eny prep�ymant�nd I�tc chu�es due under tho Note.
<br /> '�-���• � i 2. Fund�tor T�xes�nd laounoce. Subjeat to epplic�ble law or to a writton w�iver by Lender,Borrowar ehdl
<br /> �"' ' ' -' '"�` to I.ender on the de monthl
<br /> Q�y y ypeymente ate due under the Nou,until the N4te is p�id i�tull.s aum("Funda")tor.
<br /> ?�1'�''""���~��� (�)yearly texes�nd essessmente which may�ttain priority over this Sxurity Instrument as s lian on tho Property;(b)
<br /> ��°=���•��' yeuly le�sehold psyments or ground ronts on ths Pmperty,if any;(c)yearly haz�rd or property insura�ce premiume;
<br /> '�"y!�`'`' "" " (d)yearly tlood insurance premiume,it any;(e)yearly mort�a�e insuranco pramiume,it any;md (t)any sume payable
<br /> '�,,� ,�_: ..:.�.:u by Horroaer to Lender,in accord�nGO with tl�provisiona of paragraph 8,in liou ot tho paymant ot mortgs�e insurance
<br />� �> ��,�'s � premtuma.These itoms sro called"H'scmw ltama."I.ender may,at any time,collxt and hold Funde in sn amount not
<br /> ',r t=��,: i�., � . .. .K to excoed the maximum amount a lender �or a talerally rel�ted mortgage loen may requiro for Bormwer's escrow
<br /> '�%� ;� � acoount under the tederal Real Fstate Settlement Pracedures Act of 1974 as amended from time to tima, 12 U.S.C.
<br /> ;. � ' Section 2601 et seq. ("RESPA"),untess mother law that appliea to the Funda sate a lesser amoun�lf so.Lender m�y,
<br />- �'�"' at�ny time,callxt and hold Funda in an a rnount not to exceed the lesser amount.l.ender may estimate tha amount of
<br /> i • " . � Funds due on tho basis of cunent data and ra�onebla estimetea ot expenditw+ea of future 1?scrow lteme or otherwlse in
<br /> . ' ,. accordance aith applicable law.
<br /> • � The Funds ehall be held in an institution ahose deposita ara insured by a federal agency�instrumentality,or entity
<br /> (including Lendar,it L,�nder is such an inetitution)or in any Federal Home I.oan Benk.Lender ahall apply the Funda to
<br /> ; ' � � ' p�y the Escrow ltems.Lender mey not charge Borrower tor holding and epplying the�nds,anmwlly anelyzing the
<br /> escrow account,or verifying tha Escrow Items,unless Lender paya Borrower interest on the Punde end appliceble law
<br /> , ' �armits i.ender to mako such a charge. However, Lender may require Borrower to pay a one-tima cherge for an
<br /> ' �ndependent real estate tax reporting service used by l.ender in connection with this loan,unless epplicabte law provides � .��?�.��•.
<br /> �. otherwise. Unless an egreement ia mede or epplicable law requires interest to ba paid,Lender shall not be required to �
<br /> : pay Borcower any interest or earnings on the Funds.Borroaer and L.endar may agree in writing, however,thet interest . �
<br /> t shall ba paid on the Funds.l.ender shell give to Borrower.without aharge,an annual accounting of the Funds,ehowing , � ":�'�
<br /> credits end debits to the Funds and the purpose tor which each debit to tha Funda was mado.The Funds are pled�ed as �.,,;,.; ,, z__, '
<br /> �� . ------' — � additional srocurity tor all sums secured by thie Security instrumenc. �%.;�r•:'•'� �
<br /> If the Funds hald by Lender exceed the amounts permitted ta be held by applicable law,I.ender shall account to : .�.:�:�
<br /> � Borrower for tha excesv Funds in accordance with the requirements of applicable law.lf the amount oi the Funds held ( �'�,�
<br /> by l.ender at any time is not sufficient to pay the F.scrow Items when due,L.ender may so notity $orrower in writing,
<br /> and,in such cese Horrower shall pay to I.ender the amount necessary to make up the deficlency. &rrrower ehall make `;�� :#
<br /> ,� up the daficiency in no more than twelve m onthly payments,at L.ender's sole discretian. ,
<br /> � ' Upon peyment in ful!ot all surns secured by thie Security Instrument,L,ender shell promptly refund to Borrower '
<br /> any Funds held by l.cnder. lf, under peragreph 21, I.endcr shall acquire or sell the Property, Lender, prior to the
<br /> � ;";.; acquisition or sale of the Property,shell apply any Funds held by I.ender at the time of acquisition or sale as a credit •
<br /> �'• � , , against the sums secured by this Sec urity Instrument.
<br /> � ' � 3. Application oi Payments. Unless applicablc faw provides otherwise,all payments raeived by Lender under
<br /> 1 �� , pa�agraphs 1 and 2 shall be applied: Pirst,to any prepayment charges due under the Note;second,to amounts payable
<br /> ' under paragraph 2;third,to interest due;lourth,to principal due;and last,to any late charges due under the Note.
<br /> � 4. Char�es; Liens. I�orro��er shall pay all taxes, assessments, charges, fines and impositions attributeble to the � i
<br /> ' • � Property which may attain priority over this Security Inatrument, and Ir,asehold payments or ground rents, it any.
<br /> ' Horcower shall Ewy these obligations in the manner pro�•ided in paragraph 2,or if not paid in that manner, Borcower �
<br /> �� shall pay them on time direccly to the person oe•ed payment. liorro�ver shall pn>mptly furnish to Lender all noticesof •
<br /> amounts to be paid undnr this paragraph.If Borru�ver makes these payments directly,Borrower shell promptly turnish .
<br /> to I.endor receipts evidencing the pa�•ments. r
<br /> Dorrower sliall pr��mptly Jischarge eny li�n which ht►s priurity u�•rr this 5ecurity Instrurnent unless Borroaer.(a)
<br /> ` ' • agrees in writin�tu the paymrnt ut tlks obligetiun securrd by�the lien in a manner acceptable to I.ender;(b)contests in
<br /> , , gaod faith tha lien by,c�r Jetenda against entonement of the lien in, legal proceedings N hich in the Lender's opinion
<br /> � operate to prevent the enforcement ot th� li�n;ur (r)serurrs irom the holder of thr lirn an agreemdnt satistactory to '
<br /> ; l.ender subordinating thG lien tu this Security Instrument.If I.endrr determines that any�part ot the Proparty is subject '
<br /> to a lien whi�h mn��atcain priorit�• ���•rr this 5ecurity Instrument,I_rnder may gi��e Borrower a notice identifyin�the
<br /> ' ' lien. $orr�rn•er shall satisfy the lien ur takc one ur mnre�►f thr artions srt furth ab�rve uithin 10 days of the givingof
<br /> � � notice.
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<br /> , ` Fwm 3021 9/90
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