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<br /> T�CiCT4yEFd WITH ail thc improvemcnrs no�v on c�rceftcr erectecl on tlic pro�crty, and afl ca�emcnts, anpuncisan:.cs, anJ
<br /> fixlurcti nu��� nn c�rc�dtcr u part uf 41ic prop�ny. All rcpl.icenicnts .mA additiiyny shall ul,�� lu covcrr�l by di"s, Srci�rity i
<br />, � fnstcwnent.All of thc fo�eBoing is reterred to in this Security Ins!runcent ns the"Pr<�pcny."
<br />; n` ^ Qp[tRp�VER CQV�NANTS �hat 8orn�wcr is In�vfully seiscd of'thc cst:itc hc�cNy ronvcycd.md has thc right[c�f;rant anJ �.,�__
<br /> Y•-�ir,ex�_��F;���:.gyT, Co11vCy INC Peo�Crty :Iltd [hat Il�c Propct�y is uncncumbcrcd, cxcept fne cncumbrunccs uf record. Rorrowcr �v;�rrants nncl will ��:
<br /> rvi^�:'y�• , .
<br /> defencE �enerully the tide to the Prc►perty uguinst nll claims and dem.ui:is. +ubject to .my encumbrinces+�f'record.
<br /> ' �FIIS SL:CL'R1TY lNSTRURiIIF.tdT cambincs uniform cuvcnitnts for natinnai usc nnd nun-unifi�rm covcnants v✓ith limited ,�,.,..,..;
<br /> Jr y �-'7s�• '�,,sF' vnriations by jurisdiction ta coustitutc:�unifnrm sccurity instntment covcring real property. -_
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<br /> ;:�'' ; ���" UNIFORM COVENAN'PS,Sorroevcr and l.cndcr rnvcnunt nnd.�grce as fo ows: _--.
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<br /> -:,�;;,t`�. ._ , l. Pay�nent �f Princlpnl nn� [ntcress; P�epaymcnt and Latc Charges. Borrowcr slmll promptly pay whcix duc the
<br />'- � ' principal of and intcrest on the dcbt evidcnced by the Nc,te and any prepaymcnt and lute charges duc under the Note.
<br /> � Z,F'unds for Tt►xe.v ancl Insurnnce. Subjcct to applicable law nr to a written waiver by I.ender, �orrower shall pay to
<br /> � . Lcnder on the day monthly payments ure duc uuder thc Note, until the Notc is paid in 6111,a sum(°funds")for:(a)y Prly taxes
<br /> .._,y ,. .
<br /> • and asscssments which may attain prioriry over this Security Instrument as a lien an thc Property:lb)y�:irly Iwseha�d � mcnt;
<br /> , '-' or ground rents on the Property,if any;(c)ycarly ha�ard or praperty insurancc premiums;(d) ycarly floocl insurance prcmiums.
<br /> ' if any; (e)ycady mortgage insurance premiums,if any; and (�any sums paxable hy Barro�v�r to I..enJer, in acco�dance with
<br /> . the provisions of paragraph S,in licu of the payment of mortgage insurance premiums. These itcros are callcd "@scro�v ltems."
<br /> .:•�;.,. Lender may, at any time, collcct and hold Funds in an amount not to exceed the maximmn amaunt a lender for a fcdcrally
<br /> r"'" � related mortgage loan may require for Borrowet's escrow account under the federal Real Estate Settlement Proccdures A.ct of
<br />� � � 1974 as amended from time to time, 12 U.S.C.Scction 2641 e�sey.("RFSPA"),unless aoather law that applics to tlie Funds
<br /> =�' � � ':,... scts a lesscr amount. If so. Lender may, at any time, collect and hald Funds in an nmoant nnt tu exccec� the lesser amaunt.
<br /> ;��;�`����� I.e n der mo y cstimate the amount o f Fun ds d u e o n t h c b a s i s o f c u n�e n t d a t a:u�d r e a s o n able estimatcs of cx p enditures of futu[�e
<br /> .� - ,','f� Escrow Items or otherwise in accordance�vith applicable law.
<br /> The Funds shall be hcld in an institution whosc de�osits ure insured by a fcderal agency, instntmcntalSty, or entity
<br /> t ' ' (including I..endcr,if Lender is such an institution)or in any Federal Home L.oan Bank. Gender shall apply the Funds ta pay the
<br /> ` Escrow Itcros.Lender may not charge Bonower for holding and applying the Fands, annually unalyzing the escrow ac;count,or
<br /> verifyin�the Escrow[tems, unlcss I.ender pays Borrowcr interest on the Funds and applicable luw perniits I.ender t�mal:e such
<br /> a charge.Huwever, Lender may rcquire Borro�ver to pay a one-time charge for an independcnt real estatc tax reponing servicc
<br /> �� used by Lender in connection with this loan, unless applicable law provides otherwise. Unless an agreement is made or
<br /> ' applicablc law requires interest to be paid.Lender shal t�not'61'�qu`Fedltb pp�a ant herFu dsn[Lendcr shall'grv t`dlotr wer,
<br /> _ Borcower and l..en�er may agrcc ia w��arg. l:a::�:ee.. ..._. -----.- •
<br /> ' without charge, an annual accountins of the Funds, showing credits and debits to the Funds and the purpose for which eacp _
<br /> debit to the Funds vias made.The Funds are pledged as addition�l security for all sums secured by this Security Instrumcnt.
<br /> If the �unds held by Y..ender excecd the amaunts permitted to be held by applicable Intiv, L.ender shall accaunt to Bonower
<br /> � �•' for the excess Funds in accordnnce w►th the requirements of applicable law. If the amount of the Funds held by L�e�uler at any
<br /> � tirne is not sufficient to pay the Escrow Items when due.I.ender may sa notify Bono�ver in writing, and, in such case Bnrrower
<br /> shall pay to l.ender the amount necessary to make up the deficiency. Borrower shsll make up the defi�iency in no more than
<br /> twelve monthly payments,at Lender's sol,,discretion. �.
<br />-. ,. Upon payment in full of all sums secured by this Security Instmment, Lender shnll promptly refund ta Borro�ver any `�,
<br /> Funds hcld by Lendcr. If,under paragraph 21•Lender shall acquirc or scll thc ProNerty,l.endcr, prior to the acquisition or sale E
<br /> � „ . of the Property. shall apply any Funds held by C.ender at the time of acquisition or sale as a crcdit against the sums secured by �Y_
<br />- ��� this Sccurity[nstrument.
<br /> � 3.Appllcatlon of Puyments.Unless applicable law provides othervvise,aU payments received by L.ender under para�raphs �-=.+T_,
<br /> • l and Z shall be applied: first,to any prepayment charges due under the Note: second, to amounts payable under paragraph 2: �__., .
<br /> third,to interest due; fourtti,to principal due;and last, to any late charges due under the Note.
<br /> 4. Char�es; Llcns• B�rrowcr shall pay all taxes, assessments.cl�urges, fines and impositions attributublc to the Property _
<br />" w+hich may attain priority over [his Security Instrument. and Ieasehold payments or ground rents, if arry. Borrower shall pay
<br /> thcse obligations in thc manner providcd in pFUagraph 2.ur if not paid in th�t mc�nner, Borrowcr shall pay them on time dircctly
<br />_ • to the person owcd payment.Bonowcr shall promptly fum�sh to Lcnder all noticcs of amounts to bc paid under this parsgraph.
<br /> ;:�,,, If Borrower makes these payments direcQy. Borrower shall promptly thrnish to Lender receipts evidencin�the paynunts.
<br /> Borrower shall prompNy discl�arge any lien which has prioriry over this Securiry Ins[rument unless Borrower:lA)agrees in
<br /> _ �. writing to the payment of thc obligation secured by the lien in a manner acceptablc to L.cndcr,(b)contests in g��od faith the lien ,
<br /> _ r, by. ur dcfends against enforcement of thc licn in, Icgal procecclin};ti which in the Lender's opinion operatc ta prevent the
<br /> � �nfurcemert of the licn:or(c) secures from the halder of the lien an agrecment satirfactory to Lender subordinating the lien to
<br /> � �. ` this Security Instrument. If Lender determines that any puct of the Property is subjcct to a lien which may attain priuril.y over
<br /> � , chis Securiry[nstrumcnt, Lender may give Borro�ver a notice identifying the licn. Borrower shall aatitil'y the lien or take one or
<br /> � , rnorc of thc actions sct forth ubovc within 10 Ja��s of thc giving uf iwticc.
<br /> Form 3028 9/90
<br /> : vapn�ot 8 `.
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