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<br /> '['ODETHpR WiTH aU the improvtments sx►w or here�Rer arated on the property���1.e+��ar��. uu�e���d ,
<br /> _ flxturcw nnw �n c�rcaftcr n paR of thc prn�,►crty. AII !�'J1�liCC111C�1I8 RIllI Qd(I�IIAiIY fiI18II AI6O If0 COVtiCd I1Y (IIIB Serurlty
<br /> Instrumcni.AI!of tl�o furegaing is referred to in this Sexurity Instrumcnt as tPte"Prapeny."
<br /> BQRROWER�QY�NANTS that 13orrowcr la Iswfuily se[sed of the estutc hercby conveye�and hns die eight to grant end
<br /> � �� convey the Property a��d tl�su the Property Is unencumberod.except for encumbraatces af cecarel. Burruwer warrants arni witt
<br /> defend generwlly the Htle to the Propeity against a!I clajn�s and dems�nds.subjxt to any encumbranoes of�ecord.
<br /> � THIS SECU4ITY INSTRUIMBNT cambines uniform coven�nts for national usa ard non•uniform covanants with limited
<br /> -�-- --- variauans by jurlsdlctton to constisute a un3Fortn secnrity inatrument covering real praperty.
<br /> UM�ORM COVENANTS.Horrower and Lender covenant at�d agra as foliaws: L
<br /> 1. Payment of IMncipal an�Inter�� PrePayment ond �te Clwrges. Rorrower elu►11 prompdy p�y when dur tho '
<br /> principal of end interest on tl�e debt evidence�by We Note and any prapayment und late churges due unde.r the Nate.
<br /> 2.Ftiads for Tarces end Wsur�ace. Subject to uppNcable law or to a wdtten waiver by L.endcr. Honower shall pay to
<br />-- Lender on the day monthly payments are due under the Nots,until the Note is paid in full,a sum("Fund.g")for:(o)yeurly taxes
<br /> �-��-��-� aad n�sessments�vhich may attaln pdority over thi9 Se.cudty Inatn�ment as a Ilen on the Property:(b)yauly leosehald payments _
<br />`— — or ground rents an the Property,if any:(c)yeurly hazard or property l�unranca prcn�fums:(d)Ye�iy tlond insunanco premiams. —_-
<br /> if any;(e)yearly martgage insurance premiums,if eny;and(�any sums payable by Barirower W Lender. in uccordcu►ce with
<br />- - - — tho pmvisions of paragraph 8,In lieu of the payment vf mortgage Insun+nce premi��m�. These items are cntled"Sscrow Items." .
<br />=- — Lender may. at any tlme, coUect and hold Funds in an amount not to excee�i the maxfmum amount a lender for a fedemlly
<br />- — . cclated mortgage loan may requira for Borrower's escrow account under the federal Real Estate Settlement Procedutes Act of
<br /> 1974 as amended from time to time. 12 U.S.C.Sectton 2601 et.seq. ("RPSPA"). unless another law that appllas to the Funds
<br /> - - seta a(esser amount. If so, Lender may. at any t�ue.cbitect and hoid I+unds in aa amaunt not to exceed the lesser amouat. .
<br /> L.endet�raay estimate the aznount of Funds due on the basis af current data and reasonable esdmates of expenditures of thture
<br /> F.scrow Items or otherwIse in accordance with applicable law.
<br /> The Funds shall be held in an institutton whose deposits ar�e insured by a federal a$ency. instmmentality, ar entity
<br /> '� (including Lender. [f L.ender is such an institut�an)or in any Federal Homc Laan Baak. I.ender shall appfy the Funds W pay the
<br /> �,�� Escrow Items. Lender may not char�e Borrower for holding and applying the E�unds,annually anafyzing the escrow account,or �
<br /> ` �--�,"�s vedfying the Escrow Items,unless I.erxler paya Borrower interest on the Funds and applicable law permits Lender to mnka such
<br />'Y��'"� a char�e. However.i�ender may requlre Borrower to pay a one-tlme charge for an independent real estate tax reportir�g service
<br /> �iRYn.
<br /> 'i used by Ixnder in cunnection wlth this laan, unless appficable law provides otherwise. Unless an agr:ement ia mzde or
<br /> applicable law requlres interest to be paid.L.ender shall not be required to puy Honower any interest or earnings on the Funds. �
<br /> �.;�� Borrower and Lender may agree t�wdting, however. that interest sh�ll be patd on the Funds. Lender shall�ive to Borrower. _
<br /> I. bi, `�-,�c� withoui charge.an,uu�w�l a��usitiag of tiie i''wids, shuw3rg �its and s3ctsis�to she Funds ss�d tlie �nrgosp fc+r which each ,
<br /> debit to the Funds wns mAde.The Funds are pledged ag additional securiry for all sums secured by this Securtty Instrtiment.
<br /> If the Funds held by L.ender exceed the amounts permitted to be held by applicable law. Lemder shall accaunt to Borrower
<br /> for the excess Funds in accordance with the requirements af applicable law. If the amount of the Funds held by Lender at any
<br /> '' o n the Escrow Items when due,Lender ma so noti Borrower in writing.and.in such case Borrower
<br />_ time is not sufficient t p y Y fY
<br /> � shall pay to Lender the amaunt necessary to make up the deticiency. Borrower shall make up the deficiency in no more than
<br /> twelve monthly payments,at I.crtder's sole discretion. �
<br /> Upon payment in full of all sums secured by this Security Instrument. Lender shull promptly refund tn Borrower any _
<br /> Funds held by l.ender.If.under paragruph 2t.L.ender�hati acquire or setl the Property.l.ender.prior to che acquisition ar sale ��..
<br /> • of the Froperty,shall upply uny Funds hetd by l.ei�der at the timc of ucquisltfon ar satc as a credit ugainst the sums secured by P�
<br /> r..;.
<br />_ thia Secueiry Instrument. �''
<br /> �-_-.
<br /> 3.Applicatton of Paymepts.Unless applicabte law provides otherwise,all payments reccived by Lender under parasraphs �=�•
<br /> _.�_
<br /> - 1 and 2 shall be applied:first,to any prepayment charges due under the Note; ucond. to amounts payable urtder pnrasraph 2; �:_,:
<br /> _ third.to interest due:fourth.to pr�ncipal due:and last,to any late charges due under the Note. � :
<br /> 4.Charges: Liens.Borrower shall pay all taxes,asscssments,charges, fines und imposition.s attributable to the Property �;;,,
<br /> which may attain prlority over thts Security Instrument. und leasehold paymenu or�round rents. if any. Borrowee shall pay ;���
<br /> '>'�. these obligations in the munn�r provlded in paragraph 2,or if not paid in that manner,Borrower shall pay them an time directly ,,-,:
<br /> �;r�.�,; � to�ne persc►n owed pnyment.Borrower shatl promptiy furnlsh to Lender all notices af Amounts to be paid under this paragraph. ;-
<br /> If Borrower makes these payments directly. Borrower shall promptly furnish to i.ender receipts evidenci�g the payments. �;,,:
<br /> ' .;,�`'`� Bonower shnll promptly dischurge any lien wh3ch hus priority over this Secudry Instrument untess Borrower:(a)agrees in
<br /> .'�• s:',y::, :�r� writtng tu the payment of the obligation secared by the lien M u munner acceptcible to Lender;tb)contests in good faith the lien '� �'
<br /> ' ,,,:.;K., by. or defe:tds aguinst enforcement of the lien in, legal proceedin�s which in the Lend�r's opinion opernte to prevent the
<br /> �`�.� enforcement of the llen;or(c)secures from the holder of the lien an agreement satisfactory to Lender subordinating the licn to ���
<br /> . ;�.`' this Securlry Instrument. If Lender determines that any part of the Property is subject to n lien which may attain priority aver
<br /> ��r this 5ecurity Instrument,L.ender may�ive Bnrrower a notice identifyin�the Iten. Borcower shall satisfy the lien or tuke one or
<br /> "•,;°�; ;�;;,� more of the acHons set forth above wtthin 10 dnys of the�iving of notice.
<br /> `'"�"'� � Form 3028 8/80
<br /> Pepe 2 of 8
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