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<br /> ----- - ----- TOORTHER WITH all the improvemente now or hereafter er+ected on the pmperty.and a1t rasements,appurtenaaces.end --
<br /> • � � ; fiaturea now or hereafter a part of the progerty. All replacetteents and addtdons shall also be covered by this Secur{Ey _
<br /> �r-�;r��.., ;, ; Instcumeut.All of the foregoing is referred to in this Sccurity Instrumcnt as thc'Property." ��-�-'
<br /> � BORROWER COVENANTS that Borrower is luwfully sefsetl of the estatc hereby convcyed and has thc right to grant and
<br /> , ,_f � oonvBy tha Pmperty and that the Proper►y ia uneneumbered.except for encumbrances af cec�rd. Barrower wnrrunis and will
<br /> ` ' r' '�" � defend generally the title ta the Property against all clnims nnd demunds.subJert to nny encumbrenr�of record.
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<br /> •��i t�, THIS 5ECURITY INSTRUMENT combines uniform covenanta for natianal use and non-uniform covenant� with limlted —
<br /> ��`�' �. �••� : variatians by jurisdfction to constitute a uniform secudty Instrument covering real prapecty• c_____.. _
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<br /> 1 r�'-j ' � UNIFORM COVBNANTS. Borrowcr and Lender covenant and agre�es follows: � �
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<br /> 1. Fayment of Princtpal end Interest; Prepayment And Late Charges. Barrawer shall promptly pay whrn due the
<br /> � � � I pdncipal c►f and intc;mst on the debt evidenced by the Note snd any prepuyment and late churges due under the Note. �^;-__
<br /> ' ° 2. F�unds for Tsxes ond Insurance. Subject to applica6le law ar ta u wRtten waiver by I.ender, Borrower shull puy to �!`'°'
<br /> t",I. • ,. Y P Y p �� y .,:_�„:-X��::•-_--- --
<br /> I.ender on the day monthl a ments are duc under the Nate.until the No[o is atd in full.a sum("Funds )for:(a) yearl taues •:�'•-. ;.;,�.;-,:`._.--
<br /> ': and assessments whtch may attain pdority aver this Security Instntment as a lien on the Property:(b)yearly lea..ehold payments �� a u
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<br /> �s;w r n or ground rents on the Praperty,if any:(c)yearly hazerd or propeRy lnsurance premiums;(d)yearly flood insurance premiums, �:=;�;;:�.;;r�;�--
<br /> if an : (c)yearl mart a e jnsurance remiums, if an and(�any sums a able b Bonower ta I.ender,in accordencc with '�'+'�"�_",."�°"°'
<br /> i� . � � "• � the rovisians af ara rash 8, !n licu of the a ment of�m�rt a e insurance remiums.These items are called "Escrow Items." R� �� •f't-��J"� r
<br /> P P S P P Y �B P ,..;.,+,;•,;�':�'4—
<br /> Lender may. at any ttme, collect and hold Funds in an amount not to exeeed the muximum amount a lender far a federnlly �• �r��±�_==_-�-
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<br /> , related mortgage laan may require for Bonawer s escrow accbunt under the ftxieral Rcal Estate Setdament Procedures Act of
<br /> t974 as emended from time to time, 12 U.S.C. Section 2601 et seq.("A�SPA"),unless another law thut applies tothe Funds ' {'���^�
<br /> ��° - sets a lesser amount. If so, Lender may, at any time, coliect flnd hold Funds in an amaunt nnt ta exceed the lesser amount. _ _ =--- _ _
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<br /> ^� ` �� " � Lender muy estimate the amount of Funds due on the basis of cunent dnta and reasonable estimates of expendnures ot tuture -�`--�-�:�.-_;=
<br /> '�� Escrow Items ar otherwise in accordance with applicable law. ���rr.r�_
<br /> � The Funds shall be hetd in an institutfon whose depasfts are insured by a federal agency, instrumentulity,or entity ,•, .-�� :.;�'��
<br /> � (includin Lxnder,if I.ender is such an institution)or in an Federal Home Loan Bank.I.ender shall apply thc Funds to pay the ti���`�°�_�-
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<br /> • Escrow items. I.ender may not char�e Horrower for holdin� and applying the Funds,annuuUy analyzing the cscraw account,ar •�;,;'"�
<br /> ' ' verifying the Escrow Items,untess Lender pays Borrower interest on the Funds and applicable law permits I.ender to make such � � j����'"m"
<br /> a charge. Ifowever, Lender may require Barrower to pay a one-time charge for an independent rcal estate utx reporting service ,. . .Ty_�ys�=_
<br /> u�etl by I.ender in connection with this loan, unless applicuble luw provldes atherwise. Unless an agreement is made ar
<br /> „ applicable law requires interest to bc paid, Lender shall not be required to puy Borcower any interest ar eumings on the Funds. , °�
<br /> s shall be id on the Fundx. Lender shall ive toBonower, 1 .'�
<br /> ' Borrower and[.ender may a�ree in wridng, hawever, that �ntcre t pa g . ,���,
<br /> - - -----____-_.---- with�»t charge, an annual nccountin€ of thc Funds, showing credits and debits to the Fund, und thc purpose for which etich . .
<br /> . � debit to the Funds was made.The Funds are ptedsed as additianal security f�r ull sums secured by this Security Instrument. .. �
<br /> ' If the Funds held by I.ender exceed the umounts permittai to be heid by s�pplicuble luw,Lender shal l account to Rorrower �;�
<br /> for the excess Funds in accordance with the requirements of upplicabie law. If the amount af the Funds held b� L.ender at any
<br /> time is not sufficient to pay the Escrow items when due.Lender may so notify $orrower in writing,and, in such ca:ce Bonower � ,
<br /> � shall pay to Lender the amaunt nece�sary to make up the deficienry. Bnrrower shall make up the deficfency in no more than . �
<br /> twelve monthly payments,at I.ender's sole discretion. •�
<br /> Upon payment in full of all sum. secured by thi,Security Instrume�u, Lencier shalt promptly refund to Bonower any ,�'
<br /> Funds held by Lender,Tf,under puru�ruph 21, L.endcr tihall acyuire or sell the Property.i.cnder,prior tn the arquitiition ur sale �;
<br /> , af the Praperty, shull apply any Fundti held hy l.cndcr ut the timc of ucquisition or tialc as a credit uguinst the sums secured by �
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<br /> this Security Instrument. . n�.���
<br /> , 3.Applieation of Payments.Unlc�s applirablc law prcwidez othcrwise,ull payments reccived by I..ender underprragruphs �-.,;�;'#.
<br /> I and 2 shull be upplicd: first,to uny prepayment rhargcy duc undcr thc Notr:scc�md,to umuunts puyable under parugraph 2: yo��. ,��
<br /> third,to intcrest due; fourth,to principal duc:and lust. to uny lute char�e+duc under the Note. �
<br /> 4.Charp��:I.tens. Bormwc�thall puy ull tuxc�, us�es,ments,churgc,, tinc,und impositiom attributahlc tn thc Property '° ;�
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<br /> • � � which mu attain rinrit ovcr this Scrurit instrumcn[. und Ica�rh��tci a mcntti ur �round rrm., if uu Horruwer.l�all a ' �°"�`� � �
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<br /> � these obligations in thc munner prcwided in puragruph 2,ur if not paid in thut nwnncr. &�rrower tihull puy thcm on timc directly � � 9
<br /> to the pcnon owcrl payment. Bnrrowcr shull promptly Turni,h tc�[.ender all n�xicc.��f am��unt, to Nr puid unJer thi�parugraph. � •^�_
<br /> If Borrowcr mukcs thesc payincnt.dircrdy, Borrower.rhall protnptly furniyh tci[.rnder�•crcipt�cviJenrin�thc puynunts. j �:�-
<br /> Borcowcr shall promptly di,churgc any licn which hi►�priority nvcrthis Sccurity In�trumrnt unlc�.Bunowcr: (ala�±recx in , • _
<br /> writing ro the puymem o1'thc��Mliguti�m serurcd My thc licn in a manncr�ccpt•rblc tc�LcnJcr:ib1 runtc.ts in����xi faiih thc lien ;
<br /> by, or dcfcnds again.rt cntiirccmcm uf thc licn in. Icgal pr�xrcdinE, ��•hirli in thr l.cndcr'� opini�m ��peratc to pmvent thc
<br /> enforcemcnt uf thc licn: or tr),ecurc�Trum thr haWcr af thc lirn ,ui agncmrnt,ati.t;irtury tu l.cndcr.ubordinating thr licn to � s
<br /> thiti Sccuriry Instrununt. !f Lcndrr Jrtcrminc�that any pun uf thc Prc��xrty iti wh.jcrt ti� a lirn �ehich muy attain prM�rity uvcr �
<br /> this Sccurity lnstrument. Lcndcr may givc Ek�rruacr a nuti�r idrnti(}•ing thc lien.13arru���rr.hall tiati�t'�•thc licn ur lakc onc or � ;
<br /> ' morc of thc actions set ti�rth uhovc within tU day,��I'thr givin�ul'nuticr. ; ,
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<br /> Form 3028 9/80
<br /> Pago 1 of�
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