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<br /> � �'' ' �•• TOOBTHBR WITH all tha improvemcntc3 now or hareafter ereated�n tha pmperty, and eU easements� -��- - - -
<br /> - :, � - eppuctenances,and tixtures naw or her�4ter a part at thn praperty.AU replacementa and additlons ehotl nlso bo covered �:.= u T-:-s..-•=�-=--
<br /> • � by thie Security In�trument.All oi tha foregoing iA�etarred to In this Seaurlty Inatrument as tha"Proparty." �:--
<br /> :;;,�,_, ,�,, �-, ,,:,;� AORROWBR COVL�NAN1'S ths�t Borrawer ie lawtully seised of tho estato heraby conveyed and hes the dght to _____ ---
<br /> - �,�:.. ,�` . ;,;;� grent and convay tha Property and that tha P�operty is unenoumbared.except tor encumbrances of record. Bonower `"u-"�'-
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<br /> warrants and wii{deiend generally the tttle to the Property agafnat all claims and demande.subject to any encumbrances �"`�"""���
<br /> .:,, ot record. �`�r _
<br /> gc "�"�:, � THIS SF:GURITY INSTRUMENT combtaes uniform covenants for nnttonal use and aon-unitorm covenante;with •�.�.+� �"�'-- _
<br /> ` limited vuriattons by jurfedtotlan w consdtuta a uniform secudty instrument covering reei praperty. :"�.�;;i;`�;��'=�
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<br /> UIJIFORM COVENAN'I'S.Horrower and Lender covenant and agtee es tollowa: ����`��"�'""'
<br /> '. � 1.Payment oi'Principal�ad Intorest;Prepayment�nd Late Ch�rges. Borrower shall promptly pay ahen due -��������'%'=
<br /> . ,,.,,; .
<br /> . ., � '�• the princtpal oi and tnterest on the debt evidencod by the Note end any prepayment and lats charges due under the Nota. -:` .
<br /> ' . " Z. Puads tor T�xes and Insuraace. Subject to appl�ceble Iaw or to a writtea waiver by Lender. Borrower ahall
<br /> • �y to Lender on the day monthly paymenta are due under the Note�untll the Note is paid in tult,a sum ("Funds")tor. • . . . � __
<br /> a)yearly taxes and easessments which may attain prtority over thia Security Instrument ea a lien on the Property;(b)
<br /> yearly leasehold payments or ground renta on the Property,it any; (c) yearly hezard or proparty insurenca premiums;
<br /> � � • (d)yearly tlood inaurance premiuma,if any;(e)yearly mortgege insurance premtums,ii any;and(f)any sums payable , A
<br /> j� • „ by Bortoaer to Lender,tn accordanca with tha provieions of paragraph 8,in lieu of the payment of mortgage insurance . • R
<br /> , premlums.These items are called"Escrow Itama."Lendar may,at any time,collect and hold Funda in an amount not �
<br /> � � w exceed the maximum amount a lender tor a federally related martg►ge loan may requIre for Borcower's escrow
<br /> ' account under the federal Real Fstate Settlement Procedures Act ot 1974 es amended frort time to t�me, 12 U.S.C. " ��
<br /> � -•------.-.=-.....----.-__....-: Section 260! ei�eq. {"RRSPA"), iint�ss anothec law tt►at appHes to the Funds sets a lcssec amaunt.If so,Lender may. - _ -
<br /> � ' -, at an�time.c,�lect an� ho�d Func'4 in an amount not to exceed the lesser amount.I.ender may estimate the amoum of � _��_ ; _
<br /> ° Funds due on the basie of current ctdta and reasonable estimates of expenditures of tuture Escrow Items or otherwise in , � . "':,�
<br /> � � accordance with applicable law. �.. ..., ,
<br /> � " The Fun,is ehall be held in an institution whosa deposita are insured by a federal agency,inetrumantality�or entity r .
<br /> (including Lender,i4 Lender ia auch an institution)or in any Pederal Home Loan Bank.Lender shall apply the Funds to
<br /> pay ihe Escrow Itema.Lender may not charge Botrower ior holding and applying the Funda, annually analyzing the ',..� , ,
<br /> escrow account,or verifying the Escrocv Itema,unless Lender pays Borrawer interest on the Funds and applicable law .'
<br /> permits Lender to make such a charge. However, I.ender may require Borrower to pay a one-time charge for an .�`'�r .• ��'•,
<br /> jndependent real estate tax rep�rNng service��by I.ender in connection with this loan,unless applicable law provides � , :�;,.'
<br /> otherwise.Unless an egreement is made or applicaMe lew requires interest to be paid,I.ender shall not be required to >.-
<br /> , " pay Borrower any interest or earnings on the Punds.Borrower and Lender may agree in writing,ho�vever,that interest ;��°''
<br /> -_ _ --`_'= - .- = shati bc paiJ on tt�c Funds.L.endsr shalt give to Barror.�er. nithout cherge,an ennuel a�c���ntin�of the Funds,ahowing --_ ." •-�..f'i 1 _
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<br /> credits and debita to the Funds and the purpose for which each debit to the Punds was made.The Funds are pledged as ' ''" , ^
<br /> additional security for all sums secured by this Security Instrument. . � � � !
<br /> lf the Punds held by I.ender exceed the amounts perrnitted to be held by applicable taw,Lender shall account to �
<br /> Borrower for the excess Funds in accordance with the requirements o4 applicable law.If the amount oi the Funds held , � ��� �
<br /> hy T Pn�ier et eny time is not sufficient to paY the EscroN Items when due, Lender may so notify Borrower in writing, � '��
<br /> and.in such case Bottower shalt pay to I.ender the amount necessary to make up the deficiency.Borrower shall maka �`�=�:
<br /> up the deticiency in no more than t�velve monthly payments,at I.ender's sole discretion. , �`'."''��
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<br /> Upon payment in full of all sums secured by this Security Instrument.Lender shall promptly refund to Borrower f:�(�
<br /> any Funds held by I.ender. It, under paragraph 21, Lender shalt acquire ar sell the Property, Lender, prior to the =%
<br /> . acquisition or sale ot the Property,shall apply any Funds held by Ixnder at the time of acquisition or sale as a credit '`
<br />, against the sums secured by thisSecurity Instrument. �
<br /> 3. Application of Paymaats, Unless applicable law provides utherwise,aU payments received by Lender under i °�,��
<br /> + ' paragraphs 1 and 2 shall be applied:first,to any prepayment charges due under the Note;second, to amounts payable � � ,
<br /> under patagreph 2;third,to interest dite;fourth,to principal due;and last,to any late charges due under the Note. � •
<br /> 4. Charges; I.iens. Borrower shall pay all taxes, assessm�nts,charges, fines and impositions attributable to the , .
<br /> . Property whieh may actain priority UVCI• this Security tnstrument,and leasehold pay�ments or ground rPntc, ii any.
<br /> Borrower sh�l p�y these obligations in the manner provided in paragraph 2, or if not paid in that manner, �orro�ver � ,
<br /> shall pay them on time directly to the person owed payment.Borrower shall promptly furnish to L.ender al( notices of •
<br /> emounts to be paid under this paragraph. If Iiorro�ver makrs these payment4 dire�;tly,B�rrower shall promptly furnish ,
<br /> to Lender receipts evidencing the paymenGs.
<br /> " Rotto�ver shall promptly Jis�:}�argc any licn which has priorit�•o�•er this Securit��Instrument unless Borro�ver. (a) •
<br /> agree,s in n riting to the payment nf the obligation secur�;d by the lien in a manner acceptable to I.endec:(b)contests in
<br /> good faith the lien by,or defends against eaforcement of the lien in, legal proceedings ��hich in the Lender's opinion
<br /> operete to prevent the enforcement of the tien;<�r (c) seci�res from the holder of the lien an agreement satisfactory to
<br /> : Lender subordinating the lien to this Sec;urity Instrument.If I.ender determines that an�•part of the Property is subject
<br /> to a lien tvhich may attain priority o��er this Security [nstrument, Ixnder may gi�•e }iorro�►er a notice identitying the
<br /> lien.Borrower shall satisEy the lien or take one�r more ot the actions set forth abo�•r a•ithin 10 days of the giving of
<br /> ' notice.
<br /> ' Porm 30YE 9/90
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