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<br />� �: :. �.<<, , . � (,e��,j_�o�t�s � �: . � .���_
<br />-�;� � � ` TUGETHER WTTH all the imprnvements now or hereafter erected on the progerty.and alreasemenu.appnrtznances.and �., .���'
<br /> � 4 .c( • _,�_:.
<br /> -� � . • fistures now or hereafter a part of the prope�ty. All replacemQnts and additions shall also be covered by this Sect�riry �`;. c. . ,,�_. #�.
<br /> f ` ` Instrument All of the foregoing is referred to in this Security Instrument as the"Property." . � �+���
<br /> �t ' . • � .�=��� .
<br /> ��= -��"_- �= - -�= - _`�- BORROWER CO��EiVANFS that Borrower is lawfully seised of the estate hereby conveyed artd has the right to grant and _ _
<br /> ' - • . - - - --�,` convey the Froperty and that the Froperly is unencumbered.�cepi fer encum@rances of reeord. Borrawer warrants and arill -, --_ --=�`�•� `'
<br /> . . P Y .�
<br />- ' '. - defend generally the title to the Property against al!ctaims and demands,subject to any encumbrances of record.. . ,,,�,� .
<br /> -- • . THIS SECURITY INSTRUMENT combines utriforan covenams for national use and non-uniform covenants with limited . . . __
<br /> �"'`�`� '�r. �-, : .. .. ' variations by jurisdiction to constitute a uniform security inmeiment covering real property. � --, . � ��;��
<br /> '� -��' '`�-�� ,,,`` -�� UMFORM COVENANTS.Borrower and Lender covenant and agree as follows: -. - •.-. :-..d F .-
<br /> " __ . ''�°� .� l. Payment of Prindpal and Interest; Psepayment and Late Cha�ges. Bonower shall promptly pay when d�e the • . ; .�:,�.
<br /> �� 4; ` , principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. : ,
<br /> • 2. Fands for Tases amd lasuiance.Subject to applicable law or to a written waiver by Lender. Borrower shall pay fo ': ''� '�
<br /> � , t�. ..t.
<br /> _ *�' ' ' � � Lender on the day mnnthly paytnents are due under the Note,uinil the Note is paid in full,a stcm("Funds")for:(a)yearly taxes , .
<br /> � � � and assessments which may attain griority over this Security Instrument as a Gen on the Property;(b)yeariy leasehoid pa}rments . ��'', �. - �'� -
<br /> - or gcound renu on the Property,if any;(c)yearly hazard or pmperty insuranc�premiums;(d)yearly flood insurance premiums, - � :
<br />- • . if any: (e)Yearly mortgage insurance premiums. if any:and f�anY���-yable by Borrower to �.eader. in accordance with . ����;:' �. ' �
<br /> "t. •, : • � the pmvisions of paragraph 8,in lieu of the payment of mortgage insuraz�cz premiams.These items a>e ralle�"Escrow Items." .• �:.
<br /> , • � Lender may, at any time,collect and hold Funds in an amount not to es„-eed the maximum amoum a lender for a federally . ��, .°'� '�'�ij
<br />�-; • � . reiated mortgage loan may require for Sorrower s escrow account under the federa!Real Estate Settlement Pcncedares A�t of "_ . ' " ��
<br /> , . . .. .
<br /> , �.. . : .._....,.
<br /> - �---� . . . .
<br /> ... . ..�--;,. � .._ . .
<br /> .1174 as aineiid�ed-f'rom�dme to time.1Z U S:C.Section 2601 ersezy. (°RESP�A"j;anless anotheriaw that applies to e un s. . . - ---„----
<br /> sets a lessec amount. If so. Lender may,at any time, collect apd.hold Funds in an aznount not to.exceed the lesser am�ount. . . �Y
<br /> .� � " , . ' Lender may estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future ` s�� _
<br />� ' " Escrow Items or otherwise in accordance with applicable law. . '• a�
<br /> � ` � The Ft�nds.shall be held in an insatution whose deposits are insured by a federal agency. instrumentality, ar e[itity - '�°"���
<br /> ��r�
<br /> � . , , (including Lender,if Lender is such an instituuon)or in any Federal Home Loan Bank.Lender shall apply the Funds to pay the ,�----
<br /> • � Escrow Items.Le��r may not charge Borrow•er far holding and applying the Funds,annually analydng the es�row acxount,or • '.��—
<br /> � ` ver3fying the Escean•Items,unless Lender pa}•s Borrower interest on the Funds and applicable law pemvts T..er�der to malce such ''��� • ''`s�
<br /> . •_-,;- .,{. ��..
<br /> '� - . � a charae. Howe�•er. Lertder may require Borrower to pay a one-time charge for an independent real estate tax reporting service
<br />-� . � � used by Lender in connection with this loan, unless applicable law provides othenvise. Unless an agrcecnent is made or
<br /> �. • . � � applicable law requires interest to be paid.Lender shall not be required to pay Borrower any interest or eamings on the Funds. � . �+�tt�
<br />__ �:4,: : . , Borrower and Lender may asree in writing.huwever, that interest shall be paid on the Funds. Lender shall give to Borcower, .
<br /> r��• without charge. an aunual accounting of the Fands, showing credits and debits to the Funds and tf:�purpose for which"each -`�
<br /> - ��° -��'�-� -�--� � - debit to thc Funds was made.The Funds are 1 ed as addiuonal securi for all sums secured b this Securi Ir�sunment. .. �'�"��
<br /> . . . . P� tY 3' n' . --.r'-.�
<br />_ � � � � If the Funds held by Lender exceed the amounts pemutted to be held by applicable law.Lender shall aocount to Borrower ��
<br /> - • for�the eacess Funds in accordance with the requirements of applirable law. If the amount of the Funds hetd by Lender at any � • .. �;;�;�
<br />-t... � • tiine is not sufficient to pay the Escrow Items when dae.Lender may so notify Borrower in wriring,and,in such case Borrower ��,-
<br />� .. . _ , �, �
<br />- _ ,. . shall pay to Lender the umount necessary to make up the deficicncy. Borrower shaU make up the Cafsciency in no�more than �. ,.2,�,,
<br /> ;� , �. ' . twelve monthly payments.at Lender's sole discretion. -- , �_.:�:,_
<br /> ::�� • . ' Upon payment in full of all soms secured by this 5ecurity Instrument, Lender shall promply refund to Borrower any �ii�i2,:"�"`
<br />-�_ .� . � - Funds he�d by Lender.If,under paragraph 21,l.ender shall acquire or sell the Property.�.ender,prior to the acquisition or saie j..-••
<br />_'_ � ._ ... .t ,. of the Property, shal!apply any Funds held by Lender ai the time of acquisition or sate as a credit x�ainst the sums secured by P�a
<br /> _ ' this Suurity lnstntment. ��. -�
<br />-•` � � � 3.Appltcation of Payments.Unless applicable law provides otherwise.all payments received by Lender under para�aphs �;�
<br /> .� � 1 and 2 shall be applied: first,to any prepayment charges due under the Note: sccond, to amounts payable under paragraph 2: ,��=—�=
<br />°i.f,� � � � third,ta interest due;fourth,w principal due:and last,to any late charges due under the Note. � ~^'� _ _
<br /> - � - - � . - 4.Charges:L4ens. Borrower shall pay all taxes,assess�nenu.charges.fines and impositions attributablc to the Property —=`�
<br />,,;���� ' . 'which may attain priority ovcr this Security Lnstrument. and leasehold payments nr ground rents, if any. Borrower shalt pay ��yi4i�,�
<br />'`��E, � ' ' these obligations in the manner provided in pa�;raph 2.or if not paid in.that manner.Barrower sha11 pay them on time directly � � ��.
<br /> - to the person owed payment. Borrower shall promptly fumish to Lender ull notices of amounts to be paid under this paragraph. .' .:.. `
<br /> .T� : °��::�:
<br /> � If Borcower makes these payments directly.Borrower shall promptly fumish to Lender receipts evidencing the payments. . •
<br /> V;' • � � �. --� Bortower shall prampdy discharge any lien which has priority over this Security Instrument unless Borrower:(a)agrees in
<br />�� t : � � . - writin�to the payment of the abligation secured by the lien in a manner acceptable to Lender;(b)contests in good faith the lien �
<br />-_��� ' . , . by,or defends against enforcement af the lien in, legal proceedings which in the Lendci s opinion aperate 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 to .,
<br /> t�� �_ this Security Instrument. 1f Lender determines that any part of the Property is subject to a lien which may attain priority over ,
<br />_�: . '. � . . . this Security instrument. I.ender may give Borrower n notice identifying thc lien. Borrower shall satisfy the lien or talce ane or ,
<br />_� '_ � , more of the actions set forth above within 10 days of the giving of notice. �
<br />_,.1,. . .
<br /> • • form 3028 9/90
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