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<br /> TO(1BTHRR WITH all the improvementa now or her�+fter erecud on the property.orsd ctli eArementa,appurtenances.and
<br /> flxtures now or hereafter n part af the propecty. All replacementa and additions shall olso be wvered by this 3ecurIty —
<br /> -•. , -y..�;;; Instrument.Al1 of the foregolnB iq referred ta in this Sccurlty[nstrurncnt as the"pmperty."
<br /> _= BORROWER COVENANTS that Bnnower iR laafully sclRed of the eswte hereby convcycd und hc�s the dght to gritnt And
<br /> convey the Property and that the Property is unencumbered, excegt for encumbrnnces nf�rd. Aonawer wurrants and will
<br /> _ _— defend generaliy the title to the_Prnperty asainst aU ciaims and demanda,subject tp uny encumbrances of record.
<br /> - THIS SECURITY IMSTRUMENT combines uniform covenants for nationul use and nan-uniform covenants wtth limited
<br /> variations by judsdictian to consdtute u uniform seturlty instrument covering reut property.
<br />- - �� - - - — -- � UNlFO�M COVLNANTS.Bono�ver And l.endcr covenart und agree as follaws:
<br /> 1. Fayment oi Prirnipal and Interest; Prep�yment and I.Ate Charges. Horrower shall promptly pay when duo the
<br />. �;* pr�nclpal of aRd interest on the debt evldenced by the Note nnd any prepayment and lute chucgea due under the Note.
<br /> 2. Funds for Taxes end Insurance. SubJect to applicable law or to a written waiver by Lender. Borrower shall pay to
<br />'�'•�F>. Lendtr on the day monthly payments ure due under the Note.untit the Note is pald in full.a sum("Funds")for:(a)yearly wxes
<br /> •«l�':
<br /> und assessments whlch ma,y attain prlorttp uver this SecurIty Insuument as a lien on the Property;(b)yearly leasehold paymenta
<br />�� - or graui►d rents on thc Property.iP any;(c)yeacly huzard or propertv insursace premiums:(d)yearly flood insurnnce premiums, __-_
<br /> �,:
<br />"=-a• lf any;(e)yearly mortgage insurance premium.s. if any; s�nd(�any sums payable by Borrower to l,ender, in accordence with
<br /> f�;'_ the pmvistans of parasraph 8, in lieu of the payrteeat of mortgage insurance pmmlums.These items are called'Bscrow Items."
<br /> ' Le�tder may. at any tlme. callect and hold Funds in en amount not to exceed the mnaimum amount a lender for a federally =
<br /> related mortgage loan may require for Borrower's escrow account under the federal Real Estate Settlement Procedures Act of —
<br />- �l;j;�, 1974 us amended frnm ttme to time. 12 U.S.C. Soction 2601 et seq.("RESPA"),unless another law that appli�s to the Funds
<br /> sets a lesser amount. If so. l.ender may, at any time,collect and hold Funds in an amount not to exceed the lesser amaunt. ----
<br /> Lender may esNmate the emount of Funds due on the basis of c�irrent datu and reasonable esdmates�f expenditures of future =__
<br /> Bscruw Items or otherwise in accordance wlth appllcable luw.
<br /> The Funds shal! be held in an insutution whose deposlts are insured by a federnl a�ency, instrumentality, or enttry ;�;;-
<br /> (including Lender.if I.ender is such nn institution)or in any Federal Home Loan Bank.Lender shall apply the Funds to pay the �,.{?_
<br /> Escrow Items. Ixnder may not charge Borrower for holding nnd upplyin�the Funds,annually analyzin�the escrow account.or
<br /> ° ''`� `�'` �`� verifying the Escrow Items,unless L.ender pays Borrower interest on the Funds and applicable law permits I.ender tn make such �i��'�
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<br /> ., a charge. However,L.ender may require Borrower to pay a one-time charge for an independent reai estate tax reporting service �:::,:..
<br /> ' ;,��-E,.,,. ...�r�;,.- used by I.ender in connection with this loan, unl�s applicable law provides otherwise. Unless an agreement is made ar s4��
<br /> ���' 3, appljcable law requlres interest to be paid. Lender shall not be required to pay Borrower any interest or eamings on the Funds.
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<br /> n�;�4 , •E Borrowcr and I.ender may agree in writin�.however,that interest shull be paid on the F'unds. L.ender shall give to Bonower, �,���
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<br /> ; �;.,,c,�; ;��:.;,;��. without chnrge,un az�nual acxaunting of the Funds, showing credits and debits to the Funds und the purpose for which each � :��_
<br /> — �t�y�,y ' debtt to the Nunds was made.The Funcis are piedged as additianat security for aii�ucr�.+�uraI by ti�i��urity Iusiiw��c�d. � v--�
<br /> � � �� i�r t If the Funds held by Lender exceed the amaunts permitteJ to be hetd by applicable law. Lender shell account to Bottower �•;•'.�
<br /> .���1�rfiy��n r,.
<br /> � for the excess Funds in accordance with the requimments of appitcable law. If the amount of the Funds held by L.ender at siny ���
<br /> y'' Lsrtr;
<br /> ; �;'� :;'+• time is not sufticlent to pay the Escrow Items when due, I.ender may so notify Borrower in writin�.and,in such cuse Borrower
<br /> ' '`'�i,•�d� �� shall a to L.ender the amount necesga to make u the deficienc Sorrower shall make u the deficienc �n no more thun
<br /> : , ; =�''� _ �"`' P Y rY P Y• P Y � ..
<br /> "^R'°.°,'. ,�= ,°.- twelve monthly payments.at Lender's solc discretian.
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<br /> ' { " '�'' . � U n ment in fuil of all sums secured b this Securiry Instrument, L.ender sh�ll rom tl refund to Borrower tu►
<br /> - , �,�.�:�� po PaY Y P P Y Y .
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<br /> �`' ' ;;�.� Funds hefd by l.ender.If.under paragraph 21, [.ender shall acquire nr sell the f'roperty, I.ender,prior to the ucquisition or sale
<br />- - '�„��r of the Property,shnll apply any Funds held by Lender nt the time of acquisttion or sale us a credit against the sums serured by
<br />-�n . �j�r, thls Security Instrument. �
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<br />.�'•' `•'�`�.•,.°'��'°�"'''� 3.A licallon of Pa ents. Unless a ltcuble law rovides otherwise, aQ a ments received b L.ender under ara ra hs •
<br /> � • ;•4�. PP 3� PP P P Y Y P S P
<br />-' r �' " I und 2 shalt be applied: first. to any prepayment charges due under the Note; second,to amounts payable under paragraph 2;
<br />_ � :�,�..`. ' third,to interest due: fourth,to principal due;and last,to any late cherges due undcr thc Nate. •��
<br />= :..��,++�• 4. Charges; Liens. Borrower shull pay alt taxes,assessments.chnrges. fines and impositions attributahle to the Property
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<br /> �� ,;�-,�:�`••:�:��•,:�• which may attain prioriry over this Security lnstrument. and leasehold payments or ground rents, if any. Borrower sha!! pxy
<br /> �'r�'f�•�'�•�•`jr these obii ations in the manner rovided in ara ra h 2, or if not aid in that manner,Horrower shall a them on time directl
<br /> � ��;r,•;,; �,y�,;,. � P P � P A P Y Y
<br /> •'" "� ' '� � '"i� to the rson owed a ment.Borrower shall rom tl Furnish to Lentler all notices of:unounts to bc aid under this ara ra h
<br /> r,c�".. _'.";,y Pe P Y P P Y P'� P S P •
<br /> - If Horrower makes these payments directly,Borrower shall promptly fumish to Lender receipts evidencing the payments. '
<br /> :,�,�: :;�•�;'��:�:�- Borrower shall promptly dischar�e any lien which has prlority over this Security lnstrument unless Bormwer: (u)ugrees in
<br /> ��,='^'�� ��`• wrtting to the payment of the obligation serural by the lien in a roanner acceptable to I.ender;(b)cantests in goai faith the lien "
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<br /> �y;:� .;�;�' by. or defends u�ainst enforcement of thc licn in, Icgal proccedings whfrh in the I.ender's opinion operate to prevent the
<br /> enfomement of the lien:or(c) secures from the holder of the lien an a�reement satisfactory to Lender subordinating the lien to
<br />` .��" �w'�� • • this Security Instrument. Tf Lender determines that any purt of the Property is subject ta a lien which mny uttain priority over �
<br /> I '"�'�`�'��' • `_..• this Security Instrument. L.ender may give Bormwer a notice identifying thc lien. Borrower shall satisfy thc licn or tuke one or
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<br /> _ „ ,r„, more of the actlons set forth above within i0 days af the giving of notice.
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<br /> . �`��,i,_,. °`��;•'"w Form 3028 8/80 �
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