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<br /> 93-'10�33
<br /> TO(l�THElt WlTH al!the lmprovemant�now or hereattcr crectcd a�tlx pro�x:�ty,and ull casements,uppurtenxnces,
<br /> and fixturca now or hereaftcr a part af tho property. All repleccmeM�and additians shall alro be covcrcd by this�Security
<br /> Instrument. All of the forcgoing is ccfeRed to in this Security Insuumcnt as the"Propeny."
<br /> - SORROWER COVENANTS that Barrowcr is tuwfully neised of the estate hereby canvcyed and has the right►.a grant
<br /> ���� and canvcy che Propcny and�hac ch�Property ts uncncumbcrcd�except for encumbrances of record. Bonowcr wurranta wid
<br /> L�;� wHl defend gener�lly the tide to the Property ugainst wll claims ond demands,aubject to any encumbrances of rceord.
<br /> THIS SECURITY iNSTRUMENT combines uniforni awcnants for nationul asc und nun-uniform covcn:u�ts wlth
<br /> :�,� limited veriations by jurisdiction ta canstitute a uniform becurity instrument covering rcal property.
<br /> "- UNIFORM COVENANTS. Bocrower and Lendcr covenant and agree as follows:
<br /> �--------- l. P�yment ot Princtp�l and Interestt Prepsymeot and Late CharQes. Borrower shall promptly pay when due the
<br /> -- °--- — pdncipal of and tnterest on the debt evidenced by the Note and nny pmpayment and late charges due under the Note.
<br /> - Z. Fiunds for'll�xes and Insursnce. Subject to appticablc law or ta a written wuiver by Lender,Borrowcr shult pay to
<br /> _ ..������ [.ender on thc day monthly payments uoa due unckr the Note,until the Note is puid in full,a sum("Funds")for: ta)yeady
<br /> taxes and assessments which may attnin priority over this Securiry Instrument as a lien on the Praperty:(b)yeurly Ieasehold
<br /> �� paymcnta or ground rents on tbe Property, if uny; (c) yearly ha�.urd or property insurance premiums; (d) yeutly flood
<br /> insurance premiums, if any; (e) yearly martgage insurnnce premiums. if any; and(�uny sums payable by Borrower to
<br /> Lender,in accardance with the provi�ions of paragraph 8,in lieu of the payment of monguge insurance premiums. These
<br /> ttems ere called"Escrow Items." Lender may,at any time,coliect and hold Funds in an umoune not to exceed the muximum
<br /> u�nuunt a lender for a feckruity relaicwt niangage loan may require for Borrower�s escrow account under the federal Real
<br /> ---� ��� Estate Settlemeot Procedures Act of 1974 as amended from time to time. 12 U.S.C.$2601 et sey.("RESPA").unless another
<br /> •���}~��y� law that applies to the Funds sets a lesser amouui. 1. tio,Len� •r may,:�a��v time,�ollect and hold Funds in an amount nat to
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<br /> � ., �`-r,�7�;i;,;;� exceed the lesser amount. Lender may estlmate the amount af Funds due on w� basis of current datu and reasonable
<br />;�,:' = .,,G•�;;,::.�, estimates of expenditures of future Fscrow Items or otherwise in accardance with applicnble law.
<br /> ,�,``�'.°vy''-'"``'.;F�;,Y` ,;;�,. The Flinds shall be held in un institution whose deposits are insurcd by a federat agency. i�strumentality,or entity
<br /> _:;•�`•-•:�•�� ':•'.�•�' (including Lender,if Lender is such un institution)or in Any Federal Home Loan Bank. Lender shall apply the Funds to pay
<br /> , �,:;;i��'"�-'"•; ihe Escrow Items. Lender may nnt chatge Borrower for holding and applying the Funds, annually analyzing the escrow
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<br /> '���,,, account,or verifying the Escrow Iioms,unless Lender pays Borrower interest on the Funds and applicable law permits
<br /> �;�'� �;::. . Lender to muke such a chuge. Howevor,Lender may require Borrower ta pay a one-time charge for an independent real
<br /> _ , ... . estate tax mporting service used by Lendor in connection with this loan,unless opplicable law provides otherwise. Unless an
<br /> ' ,�,;,+.'�.•+ ��� •,f• ugreement is mude or applicabie Iaw requires intcrest to be paid,Lender shall not be required to pay Borrower any interest or
<br /> ., ,�:,.•� ,-- •� �
<br /> ,.�{,_"� _����'.��°r eamings on the Funds. Borrower and l.endar may Agrec In writing,however,thnt interest shall be paid on chc Funds. Lendcr
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<br /> ;,.,,�;y��v�-.�• •.-r.•-• shall give to Borrower,without c hargo,nn annua l accounting of t he Funds,s howing credits and debits to the Funds and the
<br /> ;,3y;;�;��";;._;�;��;�. ,; purpose for which each debit to the+Fundc was made. The Funds are pledged as additional securiry for all sums secured by
<br /> ��+; , this Security insttvmept.
<br /> . . �• • ' '� lf the Funds held by Lender exc.eed the amoun�s permitted to be helcl by applicable law, Lender shall account to
<br /> . � ' Borrower for the excess Funds in uccordance with the requirements of applicable law. lf the amount of the Funds held by
<br /> " ° � :;f�'„. • ��'�`�� Lender at any time is not sufGcient to pwy che Escrow Items when due, Lendcr may so notify Borrower in writing,and,in
<br /> `��� such cnse Borrower shali pay to Lendor the amount necessary to make up the deficiency. Bonower shall make up the
<br /> � �'�``�r � '�-•°`i•� de�ciency in no more than twelve monthly payments,at Lender ti sole discretion.
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<br /> ' ° I I�n payment in full of aU sum�sccured by this Security Instrument, Lender shall promptly refund to Borrower any
<br /> Funds held by Lender. If,under purngrnph 21.Lendcr shull acquire or sell the Property,Lender,prior to the acquisition or
<br /> _ sale of thc Property.shall upply any Fundz hcld by l.ender at the timc of ucquisition or sale as a credit against thc sums
<br /> ' , � xcumd by this Srcuriry Insuument.
<br /> ,R� „ 3. Application of Pryments. Unless applicublc law provides otherwixe, all payments received by Lender under
<br /> = i � paragraphs I and 2 shall be applied:fin;t,to any prcpuyment churges due under the Note;second,to amounts payable under
<br /> t: ` + °�-� .' • paragraph 2:third,to interest due;fourth,to principal dur,and last,to uny late charges due under the Note.
<br /> ' „ •`+:�, 4. Chs�rges; Liens. Borrower shall pay all taxes, nsscssments, charges. fines and impositions attributable to the
<br />; • Property which muy attain priority over this Sccurity Imtrurncnt,and leasehold paymcnts or ground rents,if any. Borrower
<br />. + ..�,.. • �,. shall pay thesc obligations in the manner providcd in paragraph 2,or if not paid in that manner,Borrower shall pay them on
<br /> , time directly to the person owed payment, Borrowcr shall prompdy fumish�a Lendcr all notices of amounts to be paid under -
<br /> � :�,.,;i:'-, '' this paragraph. If Borrower mAkcs thesc payment.directly,Borrower shall promptly fumi�h to Lender receipts evidencing
<br /> - :• , thc payments.
<br /> ' Borrower shall promptly discfiarge any lien which has priority over this Security Instrument unless Borrower:(a)asrees _.
<br /> in writing to the puyment of the obligation secured by the lien in u manner acceptable to Lender,(b)contests in good faith the =.
<br />—_ �-'=s�•j.•> lien by,or defends against enforcement of thc lien in,legal procecdings which in the Lender s opinion operate to prevent the ,,
<br /> ° �' "t`�"'���� enforcement of the lien;or(c)secums from the holder of the lien an agreement satisfactory to Lender subordinating the lien
<br /> '�'�`''` """� to this Security Instrument. If Lender determines lhat any purt of the Property is subject to a lien which may attain priority
<br /> �?`^���' over this Security Instrument,Lcnder may givc$orrower a notice identifying the lien. Bortower shall satisfy the lien or take
<br /> �% • . �' � one or more of the actions set forth above within 10 days of the giving of notice.
<br /> �.rP� *�"'- •t0^ 5. Hazard ot Property Insurance. Borrower shall kcep the improvements now existing or hereafter erected on the
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<br /> .�7 Property insured against loss by�re,hivards included within the term"extcndcd coverage"und any other hazards,including
<br /> -�°`�� J''�'" -'� floods or flooding, for which Lender requires insurance. This insurance shall be maintained in the amounts s�nd for the
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<br /> ����. ''',Y �O},y�, Form 3028 9/90 flMXe 2 oJb fwgrs�
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