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<br />- -- � — 'l'OGETHBR WI'TH ull u►e Improvement�now nn c�rcuRer erected an ttee prapeny,nnd nll caxements.nppurtcna�tce9, ___�_
<br /> and fixtures now or hereuRer u paet af the property. Ail rc.PlaccmcntR nn�addlUans shuli nis�be cavered by this Security
<br /> [nswment. Ali of the foregoing is ceferred ta in this Security Inatrument as the"Roperty:'
<br /> ---- --- BORItOWBYt CalJ�NANTS that Borrower is lawfulfy�elsed of the estt�ite hereby canvo��ed and hus tho dght to gfunt
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<br /> and convey the i'roperty artd thet the Pa►petly is unencumbcrcd.except for encumbrnnces of recard. Borrower wartnnte an _ _
<br /> � � wtll defend genernlly the dAe ta the Property uBainat aU clatms and demands,subject to nny encumbrances of cecord.
<br /> THIS SECURITY INSTRUIVIENT combines iu►iform covenants for natlonat use and nan•unlform covennnts wbth � -----
<br />: '�� limtted variadone by Judsdiction to rnnstitute a unitbm�securiry instrument covecing real pmpenY.
<br /> UNIFORM COVENANTS. Borrower and I..ender covenant nnd ugree ss follo�va:
<br /> 1. Pnyment of Principal and I�terest;Prepayment and Late Charges. Borrower shall promptiy pay when duo the
<br /> principal of und interest on the debt evidenced by the IVote and any prepuyment and late charges due under the Note.
<br /> 2. �nds[or 7hxes and Insurance. Subject to applicable lnw or to a written waiver by Lender,Borrower shuil pay to
<br /> lander on thc duy monthly pnyments are due under the Note,undl the Note is paid in full,a eum("�nds")for.(a)yeariy � _ _ __ _
<br /> � 4 taaes and assessments which muy attnin pdority over this Secudty Instrument ea a lien on the Property:(b)Yeurly leasehold �
<br /> �,' rt�. paymenta or ground rents on the Propercy. if any; (c) yearly hnzar�d or property fnsurance premtums; (d)yeariy tlood
<br /> %) �...,��'�:,;`^ insurance premiums. if any: (e) yearly mortga�e insurance premiums.if eny:and(�any sums payable by Bonower to
<br /> � �.� �'��r��° I.ender.in accordance wlth the provisions of puragraph 8,In lieu of the payment of mort�age insurance premiums. These
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<br /> �, y items ere�alled"Bscrow Items.' Lender may,at any time,collect and hold Funds in an amount not to excced the maximum �„_
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<br /> -.�rrt°'��"-'���` Estat nSettlementf�Procedure sAct of 1974 as ainended fromB dme toTtimer 2�U.S.C..$2601 et seq.(nRESPA"j,u le�ss anottter _ _
<br /> - �+�-��==° ls���that spplies to the F�md�se�r�u texser amount. If so,i.cnder may,at any t�me,collect and hald Funds in an amount not to � -
<br /> �� exceed the lesser amount. Lender may estimate the amount of Funds due on the basis of curren� da�a und rr.,w�nebte �,�;,..;.,,.„
<br /> � ' estimates of expendituc+es of future Escrow Items or otherwIse in acwrdanee wlth applicable law. ��_
<br /> '� �' The Funds shalt be held I� an institutlon whose depostts are insured by a federal agency,instrumentality.or entity +;�•�' �=__
<br /> (including Lender.if Lender is such nn instttution)or fn any Federal Home Loan Bank. Lender shall apply the Funds to pay ;
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<br /> � �� � the Fscrow Items. Lender muy not charge Borrower for holdin�and applying the Funds,annuslly analyzIng the escrow .,:m =., _
<br /> ' account,or verifying the Escrow Items,unless Lender pays Borrower imerest on the Funds and appllcable Isw permits ����;;:_
<br /> ° � I,ender to make such a chaege. However.Lender may require Borrower ta pay a one-time charge for an irtdependent real '`" �„
<br /> • " estate tax reporting service used by Lender in connection with this ioan,unless applicable law provides otherwise. Unless nn •�; ;�;-
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<br /> . Agreement ls made or applicable luw requIres interest to bc paid,Lender shall not be required to pay Borrower any interest or . __
<br /> � eamings on the Funds. Borrower and Lender may ugree in wdting.howevcr,that interest sdall be paid on the PUnds. Lender . �:`•
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<br /> � shall give to Horrower.without char�e,an annual accountin�of the Funds,showing credtts and debits to the Ft�nds and the � :, �.
<br /> __ ' � purQose for which each debit to the Funds was made. Thc Ft�uds ure pledged as additional security for all sums secumd by :. �
<br /> this Security Instrument. �
<br /> lf the Funds held by Lender exceed the amounts permitted to be held by appllcable law. I.ender shall account to
<br /> ' Borrower for the excess Funds in eccordance with the requirements of applicable law. If the amount of the Funds held by
<br /> � � Lender at any time is not sufficIent to pay the Escrow Items when due,Lcnder may so notify Borrower in writing,and,in
<br /> ' such case Borrower shnll puy to I.ender the amount necessary to make up the deCciency. Borrower shall make up the
<br /> .- -• . �. deficlency in no more than tweive monthly payments,at I.ender�sole discretion.
<br /> � ` Upon payment in full of all sums�ecured by this Secudty Instrument,Lender shull promptiy mfund to Bonower any , . �.
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<br /> Funds heid by Lender. if,under paragraph 21.I.ender shall acquire or sell the Property, Lender,prior to the acquisition or ,�
<br /> sale of the Property,shutl apply nny �Lnds held by Lender ut the time of acquisitian or sale as a credit a�ainst the sums ,
<br /> � secuced by this Secudty Insuument. J `i.��
<br /> . ,; 3. Appitcetton of PaymenGg. Unless applicuble lnw provides otherwise.all payments received by Lender under ' K�
<br /> paragraphs 1 s�nd 2 shall be applied:first,to uny prepayment charges due under the Note; second,to amounts payablc under ��' ��
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<br /> � paragraph 2;third,ro Intcrest due;fourth,to princtpal due;and lust,to any Inte charges due under the Note. ;,���;��-
<br /> ° 4. Charges; Liena Borrower shalt pny all taxes, ussessments, chargea. Cnes nnd impositions attrfbutublc to ihe �y��,��'"",-
<br /> � Property which may nttaln priority over this Securiry In+trument,nnd leauhold payments or ground rents,if nny. Borrower T,�'',N, -'.
<br /> , � shall puy these obltgations in the mnnner provided in paragroph 2.or if not paid in thut manner,Borrower shaU pay them on „ ,
<br /> ' timo dircctly to thc person owed payment. Rormwcr sha11 promptly furnish to Lcnder ull noticcs of amounts to bc pafd under � :�� _
<br /> , � ,' this parugraph. If Borrower mttkes these puyments directly,Borrower shull pramptly furnish to Lender receipts evidencing ..
<br /> � the payments. . .. , `
<br /> Borrower shall promptly dischnrge any lien which has priority over this Security lnstrument unless Borrower:(n)ugrces
<br /> . in writin�to the puyment of the obligation secured by thc lien�n a manner acceptuble to Lender;(b)contests in good faith the , ,
<br /> „ ' lien by,or defends against enforcement of the lien in,legnl proceedin�s which in the Lender+opinion operete to prevent the �••
<br /> " ' enforcement of the lien;or(c)secures from the holder of the tien an a�mement sutixfactory to Lcndcr subordinattng the lien ,�,;:��
<br /> to thjs Sccurity Insaument. if Lender determines that uny part of the Property is subjcct to u lien which may uttain priority
<br /> over this 5ecurity Instrumeat.Lender mny give Borrower u�otice identifying the lien. Borrower xhall sutisfy the lien or take s
<br /> • one or more of the actions set fortb abovc within 10 days of the giving of noticc.
<br /> • � S. Hazard or Property Insurance. Borcower shnil keep thc improvements now existing on c�reaftcr emcted on the ,
<br /> , ; Property insured against loss by fire.hazards included within the term"extended coverage"und uny other haznrds,tncluding
<br /> - . I floods or flooding, for which L.ender requires insurance. This insurance sha�l bc maintained in the umounts and for the �
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<br /> �..I Form 302lt 9f90 (paA��2 njA�tAesl
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