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<br /> 'POGF.THiilt WI'CH aU tlie iiuprovcments now or hemafeer ercctecl on the p►�operty, and �ul casements,appurtcnances, a�id �
<br /> fixtures now nn c�rcaftcr u part of thc prnperty. All replaccments and additions shall also bc rovcrcd by this Sccuriry '
<br /> " instrumcnt. All af thc foregoing is refcrrcd to in this Sccuriry Instrumcnt as thc"Property." �'u- :
<br /> t' �- IiORROWBR COVENANTS thnt Borr�wer is lawfully sei�cci of thc cstate ttereby rnnveyed and has thc right to�rant and k_., .,:,
<br /> convcy thc Properry and tliat the Property is unencumbercd, except for encumbranccs of record. Borrowcr warrants and will *'•,t��-�•
<br />- ' dcfend gcncrally the tide co thc Property agninst uil claims und dcmands,subject ta uny cncumbranccs of rcwrd. ��_�._-
<br /> 'I'HIS SI?CilRl'fY INSTRUMENT combines uniform covenunts for oational use and non•uniform cavenui�ts with limited �:-;.,,,�-.;,
<br /> wari.�tions Uy jurisdiction to constitutc u unifonn sccurity instrument covcring real propcny. �;;.�Kn�.:'
<br /> � UNIFORM COV�NANTS.Borrower und Lender covenant und agrec as follows; �.;��.
<br /> " 1. Puyment oB Princfpal and Interest; Prepayment nnd Late C6nrges. Borrower shall promptly pay when duc thc r y,;�.,�_
<br /> ��.�,.:—
<br /> � �riricipal of and interest on the dcbt cvidenced by the Note and any prcpaymcnt and latc churges duc undcr the Noic. _ ,�
<br /> 2. Fuiidti Par Taixcs and Insurance. 5ubject to applicable law or to n written wuiver by Lcnder, Rorrower shall pay to ��f'e^__
<br /> Lender on thc day manthly paymcnts nrc duc under thc Note,until thc Notc is paid in full,A sum("Funds")fur: (a)yearly taxcs _______
<br /> and usxcssmcnts which may attain priority ovcr this Security Instrument as a lien on thc Property: (b}ye,�rly lcasehold payments =__ -
<br /> or graund rents on the Property,if any;(c)ycarly hazard or property insu�ancc prerr�iums;(d)ycarly flood insurance premiums, �._ ^
<br /> if uny; (e) yearly mortgage insurance prcmiums, if any; and(�any sums payable by Borrower to Lender, in accordance with __
<br /> •� thc pravisions of parngraph 8, in lieu of the paymcnt of mor[guge insurance premiums. These items arc called "Escrow Itcros." �__
<br /> L.cndcr may, at uny time, collect and hald Funds in an amount not to excceci the maximu►n amount a Iender for a federally
<br /> � relittcd mortgagc loan may require for Borrower's cscrow account under the fedcral Real Estate Settlenient Procedures Act of
<br /> 1974 us umcndcci from tirne to timc, 12 U.S.C. Scction 2601 ct seq. ("R�SPA"), unless another law that upplies to the Funds _____
<br /> ' sets a Iesser umount. If so, f..ender may, at any time, collect and hold Funds in an amuunt not ro exceed the Iesser umount. ��_
<br /> ' Lcnder may cstimutc thc umount of Funds duc on the basis of current data and reasonable estimates of cxpenditures of future _�.
<br /> Escrow[tcnn or othcrwisc in accordancc with applicable luw. �,
<br /> d..,
<br /> Tl�c Funds shall be hcld in an institution whose deposits are insured by a federal agency, in�trumcntality, or cntity
<br /> , �• (including[.ender. if L..ender is such an institution)or in uny Federal I-���me L.o:�n Ba�ik. L.ender shall apply the Funds to pay the �-,:_,__
<br /> �� Escruw Uemti. Lender may not charge Borrower far holding und applying the Funds,annually analyzing the escrow account,or
<br /> " „ verifying thc Escrow Itcros, unless Le:nder pays Borrower intcrest on the Funds and applicnble taw permits Lcnder to make such �.�F:
<br /> n churgc. Hawcvcr, Lc:ndcr muy requirc Borrowcr co pay a onc-time charge for an independent rcal estate tax reportins service —
<br /> uscd by L,ender in connection with this loan, unless upplicable law provides othr,nvise. Unless an agreement is made or
<br /> uppliraUle luw rcyuires intcrest to be paid, Lcnder shall not be rcquired to pay Borrower uny interest ur carnings on the Funds,
<br /> � i,.�„ia� .,,:�„ :�oro��n writine. howevcr, that interest shall be paid on the Funds. L.cndcr shall �ivc to Borrowcr, _
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<br /> . • wittiout charge. an annual accaunting of tlte Funds, showing credits :md debits to the Funds and the purpose for wnich esci�
<br /> dcbit to thc Funds w:�.ti madc.The Funds urc pledgeJ as udditional security for all sums secured by this Sc;curity Instrument.
<br /> If thc Funds hcld by Lcndcr excced thc xmounts permitted to bc lield Uy applicable law.L,endcr shall account to Borra�ver
<br /> �� li�r the excess Funds in accnrdance with the requirements of applic:ablc law. If the amount of the Funds held by Lender at any _
<br /> time i.r not suFficicnt to pay the Escrow Iu.ms when due, Lender muy so notify Borrawer in writing,and,in such case Borrower _�
<br /> ^ shzdl pa�� w I.cnder the amount necessary to make up the dcficiency. Borrowcr shall make up the deficicncy in no more than ���
<br /> twrlvc munthly payments,ut Lender's sole discretion. �`- __
<br /> . Upon paymcnt in full of all sums securcd by this Sccurity Instrument, I.cndcr shsU prompdy rcfund to Borrower uny P
<br /> rior ro thc ac uisition or sale L:,�:��
<br /> FiutJs hcld by Lcndcr. If,undcr puragraph 21. J.endcr sttall acquirc or seU thc Properry, Lendcr, p q ,.���...
<br /> of Uu f'rope!ty.�hall cipply any Funds held by I.ender at the time c�f acquisition ur sale as u credit against the sums secured by ' c, _
<br /> ' �hiti Sccurity Ins[rumcnt. •u-�-`
<br /> " 3. A��pllcutfun of Puyments. Unless upplicable law providcs othrrwise,all payments receivcd by L.endcr undcr paragraphs _ _
<br /> I a�nd 2 +h;ill hc upplicd: tirst, to any prcp:rymcnt chargcx Juc undcr thc Notc; sec:onJ, to amounts payablc undcr paragraph 2; ;;��,
<br /> tlif�•d,tu intcrest duc; fourth,tn principul duc;and lust.[o any latc churges duc undcr thc Notc. w,,�j
<br /> � 4,Chary;cw; Lleus. Burnn��cr shall pay all t:ixes,as,cssmcnts,chargcx, tincs and impocitions uttributablc to thc Property ;i;;;.,
<br /> • wliicli may uUuin priurity uvcr this S�curiry Instrument. .mJ Icascliold paymcnts or ground rents, if any. Borrower shall pay <;,fr::>
<br /> Ihc�e ahli�:utiun,in tl�c munncr pr�,vidcd in paragruph Z.or if not paid in that rnanner. Borrower shall pay chcm on timc dircctly .
<br /> �u���c persim,�wed paynunt, Burri�wcr tihall prumpdy fumish tu [.cndcr all noticc�of amnunts to hc paid undcr this paragrxph. ^
<br /> - " I IF limruwcr makr�Ihetie pciynunts directly. Bi�rrowcr shall promptly furnish to L.c:nder reeeipts evideneing the payments.
<br /> ' Ilurru�vcr yh.dl prumpUy disrhar�c any licn�vhich ha�priority��vcr this Sccurity instrument unlctis Borrowcr: (a)agrecs in � .�
<br /> •. � �vrilinER U�1he�r.ryinent��f Ihr ubliEatian�erured by the lien in a ntanner acceptable ta l.ender.(b)cuntest,in�oud faith the lien
<br /> � �iy, ,n• d�triu�� ;��tninti� ci�furcement ul'the lien in. Iegal procecdings which in the l.ender', upinion ciperate to prevent the
<br /> . • I riNurrciucnt u(Ihr licn: ur irl ucureti from thc holdcr uf thc licn an agrecm�nt satisf'actory ro Lcndcr subordinatin�thc licn to
<br /> Iliiti ti�ruruy In�u�umcnt. 11'Lcndcr dctrnnincs that :�ny part uf thc Pruperty is subjcct ta a licn which may uttain priority ovcr
<br /> .. Ihiti tir�urny In�trumrni, Lcndcr may �ivc B� ������•cr a n^ci�•:• iJ,•niil'ving thc licn. Durruwcr+hall satis(y thc licn ur takc onc or .
<br /> � - in�ar��1'ihc a.tiun�+rt IirrUi iihuvr within 10 da�. �.,��iring cit uuu,..
<br /> Form 3028 9/80
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