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<br /> - - �, ' TQCIETHBR WITH ai!thG impmvements now or her¢aRer erectod on the pro�erty�afM'�ail�a.Semlfi�;'��J,��i�s�and
<br /> - ��^��� tixtures naw ar hereutter a p�ut of the propeny. All mplacemenas and addicions sh�ll also be covercd by thia Secudty
<br /> � � � Instrumsnt.All af the foregoing ia referred ta in this Security InstNment aq the"Praperty."
<br /> -,;a���n��■ BORROWER COVBPVANTS thnt Borrower is lawfully seised of the estate hereby conveyod and ha�tha rlgbt ro grar:t and
<br /> -= — — convey tho Prceperty and that the Pmperty ia uneneumbered, exapt for encumbrances of recocd. 8onower warrants and will
<br /> .t� defend genemlly the titlo to tho Property against all ctaims and demands.subJect to any encumbrances of record.
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<br /> THIS S�CURITY TNS'i'i�UMENT rambines unifortn��� •nants for national use and non•uniform covennntx with Hmited
<br /> �� ' vtulntlons by jurlsdlctton ta constitute a unifotm secudty instrvment�averin�real property. F --- - --
<br /> �t UN[FdRM COVBNANTS.Bormwer and l,ender covenant and agree as foqawe:
<br /> �.; . 1. Paytnent of IMncipal end Inte�st; Prepaymeat and Lato Ch�es. Borrower shnll pramptly pny when due tho -
<br /> ;;{?��� , pdncipal af und Interest on the deb!evfdenced by the Note and any prcpayment and Ista charges due under the Note.
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<br /> ,��.�•� 2.Fund9 for Taxes and Ittsurance.Subject to appllcablc Isw or to a wrltten wa�ver by L.ender, Bonower shall pay to
<br /> � �`�' �' �"'j' [.ender an thc day monthiy paymenta are due under the Note.until the Note i�paid in full.a sum("Funds")for:(a)ycurly taxes
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<br /> ����;��,��`�'��� end essessments whtch may attsin priority over thiA Security Tnstrument as a lien on the Properry:(b)yearly leasehald paymente �________ _ _ _
<br /> �:;?`�,',�``;`�:�: `;,,�r or ground renta on the Property.lf any;(c)yearly hazard ar property insurance premtums:(d) yearly flood insurnnce premlums,
<br /> • :•�y+; if eny;(e)yearly mortgage insurance premiuma, if any:and(�any sums payable by Borrawer to I.ender, in accordance wlth
<br /> / ��.•-•� � � � � the pmvieions of pumsraph 8,in lleu of the payment of mortgage insurancc premiums.These ltems arc celted"Escrow It�ms."
<br /> ''� �� � '�` Lender may. at any time, collect and hald Funds in an amount not to exceed the maximum amount a lender for a federally --__.
<br /> •, • , -,: �:� relsted mortgege toan mey require far Borrower's escrow account under the federal Real Estate Setdement Procedures Act of '_—=
<br /> �� , `F¢ 1974 as amended from tlme to timo. 12 U.S.C.Section 2601 et seq.("RE�SPA"),unlc.ss another Isw that applies to thc Funde -�---
<br /> setx a lesser amount. if�c►. i.endcr mxy. a�eny Ume. coilect and hold FundF in ar� amount not tc� exceed the learer emount. -°--
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<br /> L.ender may estimate the amount of Funds due on the basis of current data and rea.sonable estimates of expenditures of futurc �:;�'
<br /> Escrow Items or othcrwise in accordance wlth applicable Iaw. �'��,°
<br /> � • The Funds shall be held in an institutton whose deposits are insured by a federul agency. instrumentality, or entity � =
<br /> (including L.ender,if L.ender is such an insdtutton)ar in any Federol Home Loan Bank.I.ender shnll apply the Funds to pay the •ti��''��,',_
<br /> Escrow Items. Lender may not char�e Barrower far hotding and applying the Funds,unnually unalyzing the escrow account,or �" •*: `_
<br /> verifying the Escmw Items.unless L.ender pays Bonower interest on the Funds and applicable law permits I.ender to meke such "''•" •+��'=
<br /> , �� a charge. However,Lender may require Horrower to pay a one-time charge far an independcnt real estate tax reporting service ;,�"�.;--`
<br /> ' , used by L,ender in connection with this loan, unless applicable law provides otherwise. Unless an agreement is made or �"
<br /> � applicable law requires interest to be paid,Lender shall not be required to pay Borrower any intemst or eamings on the Funds. `Y �r�',,
<br /> Barrower and I.endcr may agme in wtiting,however, that interest shell be patd on the Funds,I.ender shall �Ive to Borrower, �=�
<br /> — •—_=- wiihoui chargc,an annual accanating of thc Funds. sho�:�istg ctedits usd debIts to thc Fttnds and thr�ia�nc�fc►�which eaclt
<br /> debit to the FundF was made.Thc Funds are pledged as additional securlty for all sums sexured by this Secur�ty Instrument.
<br /> • If the Funds held by Lender exceed the amounts permitted to be held by upplicable luw, I.ender shall account to Borrower
<br /> � for the excess Funds in accordance with thc rc�quiremcnts of applicable law. If thc amaunt of the Funds held by Lendar at any � • -
<br /> � time Is not suffictent to pay the Escrow Items when due, Lender may so nottfy Borrower in writing,and, in such case Borrawer �
<br /> , shall pay to l.ender the amount necessary to make up the dc�ciency.Rorrowcr shall make up the deGciency in no morr thsts _
<br /> twelve monthly payments,at I.endcr's sole discretion. ,:
<br /> � Upon payment in full of all �ums a��cured by this Security Instrumcnt, L.ender shull promptly refund to Barrower any
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<br /> . Funds held by Lender. If,under paragruph 21, Lender shall ucquire or sell the Property.L.ender, prior to the acqujsition or sale -
<br /> of the Property,shnll apply any Funds held by Lender at thc time ot'ucquisition or�ule as a ctedit against the sums sccurcd by a�
<br /> this Security Instrumcnt. '
<br /> 3.Applieetion of Peyments.Unless applicuble law provides atherwixe.ull puyments received by l.ender under paragraphs , _
<br /> 1 and 2 shall be applicd: first, to any prepayment churgcs duc under the Note; second,to nmounts payabJc under parugrnph 2; �r'
<br /> third,to interest due;fourth,tn principal due;und lurt,to uny lute charge.r due under the Note. �
<br /> 4.Churges; Ltenc.Borrawer shaU pay all tuxe�, .+sse��meni�, churges, fincs und impenitions uttributable to the Property „•�
<br /> which may attnin priority ovcr this Security intitrwtxnt, und Iru+chold puymcnts or grciund mntti. if any. Borrowcr shall pay ',
<br /> these obligutions In the munner provided in purugruph 2,or if not paid in thut munncr. Borro�ver xhall pay them on time directly �; ;
<br /> to the person owed puyment. Bnrruwcr shull promptly 1'urnitih tu IAnJer ull nntircx of umuunt.[u be paid undcr this pnragraph.
<br /> If Borrowcr mAkcs thrsc puymcnt.dimctly,&�rrowrr shall pri�mplly furni.h tu Lendcr rcrciptti cvidcnring thc puymcnts.
<br /> &irrowcr shall prompUy Jiuhurgc uny licn which hu+pricttity�c�vcr thi,Srcuriry In.trumcnt unlc.s 8arrowcr. (a)agncx in '
<br /> writing to the puyment of the abligution�ecured hy the lien in u nunner urceptahle ta Lrnder: Ib>rante�tti m go�id fuith the licn
<br /> by, or defends uguinst cnforcement of thc lirn in. Ic�nl prorceJing� whirt� in thc LenJer'>��piniun operute tu prevent the
<br /> enforccment of the Iien;nr(c)�ccurc�frum thr��otdcr uf thc lirn an agrrctncnt.uti>furtor�•tci I.rndcr+utxirdinating thr licn to �'�
<br /> this Sccuriry Inytrumm�t. If IAndcr�fetcrniinc� that any part uf th�Pruprrty i�.ubjcct tu .i licn �vh�rh nmy.utain priurity uvcr �
<br /> this Scruriry Inurumcnt. [.cnJcr mny givc Burn�wcr a nalirr identilying thr lirn. Burri���rr�haU �ati.fy thc licn ar tatir onc or �
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<br /> more of the uctiom set forth uhove�viUiin 10 duy�c�t'thr gi��in�uf ix�ticc. I
<br /> ' Form 3028 9�80
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