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<br /> • � � 'I'QUt:I"�I�:[t�VI'I'1! all thc ii�i��rc�vcntcn�s now on c�rciiftcr crccicll on thc prop�rty,and all cascmcnts, appurtenances,
<br /> �� iind Ci�:ture�;nov�or hereaf�cr a p.ict of'the propeny. All repincement4 and adclitions tihall also be cuvemd by this Security
<br /> Instsument. All uf the foreguin�is rcferrcd ta in this Sccuriry Instrunicnt as the"F'�ropeny." •.
<br /> � DORROWER COVENAI�TS ihnt Borrower is la�vfull�seiscd of the estate hercby conveyed and has thc right to grant
<br /> and convey�he Praperty and thnt the Prape�Ky is unencumbcred,except for enewnbrances oP record. Dorrower vrarrants and
<br /> � will defend generally the title w tlie Property agninst ull clnims nnd deman�ls,subject to any encumbrances of record. „
<br /> THI� S�CURITY INS'Y'RIJlL9EP+IT combincs uniform covcnun�s for national usc and non-uniforni Sovenante with
<br /> - limited varintions by jurisdiction to constitute n uniform sGCUrity instrument covering real propeny.
<br /> UNIFORM COV�NANT5. Horrowcr and Lendercovettant nnd a�ree as follows: '
<br /> 1. Paymenl af Prfnclpal und Intcrest;Prepnyment nnd Latc Churges. Borrower shall prompdy pay when due thc
<br /> • principul of nnJ intcrest on the deb2 evidertced by the Note and any prepayment�nd lute charges due under the Note. •
<br /> ,. 2. �'unds for'il�xes and Insurnnce. Subjcct to upplicable Intv or to a written wniver by Lender.Borrower shall pay ro
<br /> � � Lendcr on tli�day monthly payments ure due under the Notc,until the Note is paid in full, a sum("Funds")for:(a)ycarly ' ,
<br /> ° taxes iind ussessmcnts which muy uttain priority ovcr this Security Instn�ment as a lien on the Praper[y:(b)ycarly leaschoid � .�
<br /> paymcnts ar gtound rents on thc Propeny. if any; (c) ycurly hazard or property insurancc premiums; (d) ycarly flood _'_;_
<br /> �� insurruuc premiums, if any; (c)y�early mortguge insurnrice pre,niums. if nny: and (fj any sums payable by BoROwer to -��,-
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<br /> Lender,in accordance with the provisians of paragraph S,in lieu of ihe payment of mortgage insurance premiums. These � �
<br /> items are called"Escrow Items." Lender may,at uny time,collect and hold Funds in an amount not to exceed the maximum
<br /> n. amount a Iender for a fcderally�relatr.d mortgage I�oan may require for eorrower's cscrow account under t2�e federal Real --
<br /> -- lEstate Setticment Proccdures Act of 1974 as amendcd from time to time, 12 U.S.C.§2GQ1 et seq.("RESPA").unless another
<br /> • lavr that appl:e�.to thc Fur�ds scts a lcsser arreount. lf so,Lender may,at any titne,collect end hold�nds in an amount nat to � -
<br />_ . exceed the lesser amount. Lcnder may esdmate the nmount of Funds due on the basis of current dutu and reasonable =-
<br /> esdmates of expenditures of future Escrow ltems or otherwise in accordance with applicable law. �
<br />. Thc �unds shall be held in an institution whose deposits are insured by a fedcral asency,instrumentality,ar entity
<br /> • , . (including Lender,if Lender is such an institution)or in any Federal Home Loan Bank. Lender shall apply the FlAnds to pay �==�`
<br /> ,. the Escrow Items. Lender may not chargc Borrower for holding and applying the Funds. annually analyzing the escrow _
<br /> account, or verifying the Fscrow Items, unless Lender pays Boaower interest on the Funds and applicable law ptrmits —
<br /> �• Lender to make such a charge. However, Lender may require Borrower to pay a one•time charge for an independent seal _
<br /> � � estate tax reporting service used by Lender in connecaon with this loan.unless applicable!aw provides otherwise. U�nless an
<br /> agrecment is made or applicable law requires interest to be paid.Lender shall not be required to pay Borrower eny inserest or -
<br /> '� eamings on the Funds. Dorrower and Lender may agree in writing,however,that interest shall he puid on the Funds. Lender
<br /> " shall give to Burrower,without charge,an annual accounting of the Funds,showing credits and debits to the Funds :uid Q�c
<br /> , purposc for which each debit co the Funds was made. 7't►e Funds arc pledged as udditional security for ull sums secured by
<br /> this�ecunty enstrument.
<br /> - If the Funds held by Lender exce.ed the amount, permitted ta 6e held by uppDicable law, Lender shall account to
<br /> Borrower for the excess Funds in accordance with the requirements of applicAble law. If the amot�nt af the Funds held by
<br /> ��• ' .. Lender at any time is rtot sufficient to pay the Escrow Items when due,Lender may so notify Borrower in writing. and.in
<br /> such case Borrower shaU pay to Y.ender the amount necessary to make up the deficiency. Borrower shall make up the
<br /> � � deficiency in no more than nvelve monthly payments,at Lender's sole discrerion.
<br /> ' Upon payment in full of all sums secured by this Security Instrument, I,ender shall promptly r�efund to Bonovrer any
<br /> Funds held by Lender. If,under paragrnph 21, Lender shall acquire or sell the Property,Lender,prior to the zcquisldon or
<br /> sale of the Propercy, shall apply:u�y Funds held by Lender at the time of acquisidon or sale as a crcdit agninst thc sums
<br /> ° secured by this Sccuriry lnswment.
<br /> ' 3. Applteatton of Poyments. Unless applicable law provides otherwise, all payments received by Lender under --
<br /> paragraphs I and 2 shall 6e ap�lied:first,to any prepayment charges due under the Note;second,to amounts payable under
<br /> , paragraph 2;third,to interest due;fourth,to principal due;and last,to any late charges clue under the Note.
<br /> 4. Charges; Llens. Borro�ver shall pay aU taxes, a5sessments, char�es, fines and impositions attributablc to the
<br /> „ Property which may ottain prioriry over this Security Instrument,and leasehold payments or ground rents,if any. Borrower -"-
<br /> shall pay these obligations in the manner provided in paragraph 2,or if not paid in that manner, Borrower shall pay them an =__
<br /> time dircctly to the person owed payment. Borrower shall promptly fumish to iender all nouces of amounts to be paid undcr -.-_
<br /> this paragraph. If liorrower makes these payments directly,Boaower shaU promptly furnish to Lender receipts evidcncing =---
<br /> the payments. --__
<br /> . " Bomower sh�ll promptly dischazge any lien which has priority over this Security Instrument unless Borrower:(a)a�es --
<br /> in�vriting to the payment of the obligation securcd by the licn in a man�►er acceptable to Lender,(b)contests in good faith the -_
<br /> licn by,or defends aqainst enforcement of the lien in,legal proceedings which in the Lender's opinion otserate to prevent the --_
<br /> •� enforcement of the lien;or(c)secures from the holder of the lien an agreement satisfactory to L.ender subordinating the lien �
<br /> to this Security instrument. If I.ender determines that any part of the Property is subjec:t to a lien which may attain priority �"","
<br /> ' ' over this Security[nstrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy ihe lien or take ,
<br /> . one or more uf the actions set forth above within 10 days of the giving of notice. ,
<br /> � S. Huzard or Property Insurar�ce. Borrower shall keep the improvements now existing ar hemafter erected on the �
<br /> " Property insured against loss by fire,hazards irtcluded within the term "e�ctended coverage"and:my other hazards,including
<br /> • floods or Elavding, for which Lender requims insurance. This insumnce shall be maintaincd in the amoun�s and for the •.
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<br /> „ `:z; Form 3028 9/90 iya���o>a pu8�:� `
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