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<br /> TOGETHER WITH all the i,nlw cements now ta' hereafter greeted on the property, ar•d 119MAurtcnam",
<br /> and flstum-, now or hereafte; a part of rite nrr1!t:rty, All replacements and additions s.'tall u.1so be covered by this Security
<br /> Instrument. All of the foregoing is refemx' °.1 fin this security i:tst;ument as th, "Property."
<br /> BORROWER COV ENANTS that Bc~-rwr sr is lawfully seised of the estate hereby conveyed and has the right to grant
<br /> and convey the Property and that the Property : i u vencumbcrcd, except for encumbrances of record. Borrower warrants and
<br /> will defend generally the tine to the Property agAtm all clairns and demands, subject to any encumbrances of record.
<br /> TH1 i SECURTIY INSTRUMENT combines uniform covenants for national use ant;. non-uniform covenants with
<br /> limited variations by jurisdiction to constitute a uniform security instrument coveting real Frol+ctty.
<br /> UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows-
<br /> 1. Payment of Principal and Interest: Prepayrntnt and Late Charges, Borrower shall promptly pay when due. the
<br /> principal ,)f and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br /> 2. Funds for nxes and Imiurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pav to
<br /> Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ("Funds") for. (a) yearly
<br /> taxes and assessments which may attain priority over this Security lnstrumer,', as a lien on the Property; (b) yearly leasehold
<br /> payments or ground rents on the Property, if any. (c) yearly hazard or property insurance premiums; (d) yearly flood
<br /> insurance premiums, if any: (c) yearly mortgage imurance premiums, if any; and (f) any surns payable by Borrower to
<br /> Lender, in accordance with the provisions of paragraph 8., in lieu of the payment of mortgage insuratce premiums. These
<br /> items are tailed "Escrow Items." Lee ter may, at any time, collect and hold Funds in ten amount not to exceed the irLutitnum
<br /> amount a lender for a federally related mortgage loan may require for Borrower's escrow account under the federal Real
<br /> Estate Settlement P_,!eclums Act of 1974 as amencind from time to time, 13 U.S.C. $ 2601 et seq. RPA"), unless another
<br /> law that a-)plies to the ; unds sets a lesser amount. If so, Lender may, at any time, collect and hold Funds in an amount not to
<br /> exceed th; lesser amount. Lender may estimate the amount of Funds dre on the basis of current data and reasonable
<br /> estimates of expenditures of future E-zrow Items or otherwise in accordance with applicable law.
<br /> The f=unds shalt be held in an irstitutlon whnsa d";asits are insured by a federal agency, instnimentality. or entity
<br /> tincluding Lender. if Lender is such an institution) or in anv fi~deral Home Loan Bank. Lender shall apply the Funt(s to pay
<br /> the Escrow ]tents. Lender may not charge Borrower fnr holding and applying the Funds, annually analyzing the escrow
<br /> account, or verifying the Escrow Items, unless Lende. pays Borrower interest on the Funds and applicable law t~_rmits
<br /> lender to -take such a charge. However. Lender may require Borrower to pay a one-time charge for an independent real
<br /> estate tax reporting service used by Lender in connection with this loan, unless applicable, law provides otherwise. Unless an
<br /> grt:ment rmadc or appficabie law requires interest to be paid. Lender shall not be required to pay Borrower any interest or
<br /> c:,, min-s on the Funds. Borrower and lender may agree in writing, however, that interest shall be paid on the. Funds. Lender
<br /> shall wive to Borrower, without charge, an annual accounting of the Founds, chowing crrdits and debits to the F=unds and the
<br /> purpose for which each debit to the Funds was made. The Funds ace pledged as additional security for all sums sccurod by
<br /> this Security Instrument.
<br /> If the Funds held by Lender exceed the amounts permitted to be held by applicable law•. Lender shall account, to
<br /> Borrower for the excess Funds in accordance with the requirements of applicable law. If the amount of the Funds held 'y
<br /> Lender at any time is not sufficient to pay the Escrow items when due, Lender may :o notify Borrower in writing, and, in
<br /> such case Borrower shat! pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the
<br /> deficiency in no more than twelve :monthly payments, at Lender's soie discre(ion.
<br /> Urx)n payment in full of all sums secured by this Security Instrument, Lender shall promptly refund tv Borrower any
<br /> Funds held by Lender. If, under paragraph 21. Lender shall acquire or sell the Property. Lrndcr, prior to the acquisition or
<br /> sale of the property, shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums
<br /> secured by this Securay Instrument.
<br /> 3. Applicatiou of Parmen(s. Unless applicable law provides otherwise, all payments received by Lender under
<br /> paragraphs I and 2 shall he applied. first. to any prepayment charges due under the Note; second, to amounts payable under
<br /> paragraph 2: third, to interest due; fourth, to principal doe; and last, to any late charges due under the Note.
<br /> 3. Charges; Lien& Borrower shall pay all taxes, assessments, charges, fines and impositions attriNnable to the
<br /> Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower
<br /> shalt pay these obligations in the manner provided in paragraph 2, or if not paid in that manrwr, Borrower shall pay them on
<br /> time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under
<br /> this paragraph. If Borrower makes these payr. ents directly. Borrower shall promptly furnish to Lender receipts evidencing
<br /> the payments,
<br /> Borrower shall promptly discharge any lint which has priority over this Security Instrument unless Borrower. (a) agrees
<br /> in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, (b) contests in good faith the
<br /> lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the
<br /> enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien
<br /> to this Security Instrument. If Lw~der determines that any part of the Property is subject to a lien which may attain priority
<br /> over this Security Instrument, Lende - na; Borrower a notice identifying the lien. Borrower 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 /> 5. Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the
<br /> Property insured against loss by fire, hazards included within the term -extended coverage" and any other hazards, includine
<br /> floods or flooding, for which Lender requires insurance. This insurance shall be maintained in the amounts and for the
<br /> Form 3029 9190 (page 2 g`6 rages)
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