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<br /> � TOGE"THER WITH all the improvements now or hereafter erected on the property, and all casements, i ���
<br /> � f appurtenanc�s,and fixtures now or hereafter a part of the property.All replacements and additiona shell also be covered �.
<br /> �� by thie Security Inatrument.All of the foregoing is referred to in thie Security Instrument as the "Property." � �I��
<br /> BORROWER COVFNANTS that Borrower is lawfully se;ised of the estate hereUy conveyed nnd has the right to ,�
<br /> grant and convey the Yraperty and that the Property ie unencumbered, except for encumbrances ot record. Banou�er '� �,+�
<br /> warrants and will defend generally the title to the Property against all claims and demands,subject to any encumbrances ,
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<br /> �� THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with
<br /> limited variationa by jurisdiction to constitute a uniform security instrument covering real property. . .
<br /> " 'UNIFORM COVENANTS.Borrower and Lender covenant and agree ns follows: I •��` '=
<br /> 1.Payment of Principal and Intcrest;Prepayment and Lata Charges. Borrower sheU promptly pay when due f � , •} __�
<br /> �.ti� � the principal of and interest on the debt evidenced by the Note and any prepayment and late churges due under the Note. ! ___
<br /> � 2. Funds tor Texes and Inaurance. Subject to applicable law or to a written waiver by Lender,Borrower shall _
<br /> ,�, pay to Lender on the day monthly psymenta are due under the Note,until the Note ia paid in full,a aurn("Funds°�for:
<br /> � „::�:.�,�', (a) yearly taxes and assessments which may attain priority over this Security Instrument as a lien on the Ptoperty; (b) �
<br />- ' yearly leasch�ld paymenis ur gruund;cnts on the Propert}�,if any; (c) yearly haznrd or property ineurance premiums; ,,��:
<br />- ' • (d) yearly flood insurance premiums,if any; (e)yearly mortgt�gc insurance premiums, if any;and (t1 any sums payuble : ..,�A _
<br /> ' by Horrower to Lender,in accordance with the provisions of paragraph 8,in lieu of th�payment of mortgage insurance ;,;,;�.,�y,�„_
<br /> premiums.These items are called"Fscrow Items."I.ender may,at any time,collect nnd hold Funds in an amount not ',`,.��.� �„�._
<br /> to exceed the maximum amount a lender for a federally related mortgage loan may require tor Borcower's escrow .,;'srk�;:+�t' _ _
<br /> " accaunt under the fecieral Real &tate Sottlement Procedures Act of 1974 as amended from time tm time, 12 iJ.S.C. `,;..^.�`.y�.__---�
<br /> ° Section 2601 ef seq. ("RESPA"),unless another law that applies to the Funds sets a lesser amount.Ift so, Lender may, = : _ ,:
<br /> ' —�_..�-_ at anv time,collect and hold Punds in an amount not to exceed the lesser amount.Lender may estimate the amount of ''' ' :
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<br /> _ —_ . �•..._......r r�;�;�F,.,�,Y.,m ifemaor otherwise in ' :.'• �"
<br /> � Funds due on the busis of current data and reasonAbie escimaie�u�Gri��i�;������• :_-�;;; ;
<br /> � accordance with applicable law. �"_"•'
<br /> The Funds shall be held in an institution whose depasits pre insured by n federal agency, instrumentality,or entity
<br /> � (including Lender,if Lender is such an institution}or in Any�ederal fiome Loon Bank. Lender shall apply the Funds to Y f`
<br /> p a y t h e P s c roa Item�. Lender may not charge Borrower for holding and applying the Funds,annually analyzing the •
<br /> escrow account,or verifying the Escrow Items,un less I.en der pay� Aorr o�v e r i n t e r e s t o n t h e F u n d s a n d a p p l i c a b l e Inw ,:`�L ,`
<br /> permits I.ender to make such a charge. Iio�vever, I.ender may require Borrower to pay a one�tirna chnrge for en
<br /> " ?ndependent real estate tnx reporting�ervice used by Lender in connectien with this loan,unless applicable la�v provides �
<br /> . other�vise. Unless nn agrcement is made or epplicable law reyuires intere.9t to be paid. Lender shall not be required to ' . ��:`
<br /> pay Borrower any interest or cnrnings on the Funds. Borrower nnd I.onder may agree in writing, however,thntinterest , ,,,,.�
<br /> ° shall Ue paid on the Funds.Lender shall give to Borcower,without chnrge, an nnnual accounting oi the Funds,showing �,, ^
<br />' credits and debits to the Punds and the purpnse for which each debit to the I unds�vas mnde, Tl�e Punds nre pled6ed ns s�;;. `
<br />. " edditional security for all sums secured by this Security Instrument. . �.
<br /> If the Punds held by I.ender exceed the amounts permitted to be held by npplicable luw,Lender shall account to � . �
<br /> Bonocver for the excess I�unds in accordance�vith the requirements of applicnble law. If the amount of the Funds held ��.>:'%'�.:°,-.-�
<br /> ' • by I.ender at any time is nat sufficient to p�y the Escro�v Items when due, I,ender may so notify Aorrawer in writing, � ;:;f�'� -r�
<br /> and,in such case IIorrower shal! pay to L,ender the amount nec�sary to mnke up the deficiency. I�orrower shall muke s .' ' .�;�
<br />� . up the deficiency in no more thnn twelve monthly payments,nt L.ender's sole discretion. � , ..�,.
<br /> ' Upon payment in full of uU sums secured by this Security Instrument,Lender shnll promptly refund to Borrower •;,',: . �_1
<br /> � ; any Funds held by Lender. It', under paragraph 21, Ixnder shall acquire or sell the Property. Ixnder, prior w the I "' =�,�;
<br />_ ... acquisition or sale of the Property,shell apply a�iy Funds held by Lcnder at the time of acquisition ��r r,nle as a aedit i , .,R �.
<br /> , �• against the aums secured by this Security Instrument. i ��. __
<br />- 3. Application of Peyments. Unless applicnble law pro�•ides otherwise,all payments received by Lender under i
<br />� purngraphs 1 and 2 shall be applied: first,to any prepayment charges due under the Note;second,co amounta payable ; �
<br /> under parngraph 2;third,to interest due;fourth,to principal due;nnd last,to any late charges due und�r the Note. j .�
<br /> 4. ChargGS; Liens. Donower shall puy nll taxes, assessments,charges, fines and impositi�ns attributable to the i
<br /> Property which mey attuin priority over this Security Instrument,and leasehold payments or grcaund rents, if uny. .
<br /> Borro�ver shall pay these obligations in the manner provided in paragraph 2, or if not paid in that rnanner, Borrotiver i
<br />- shall pay them on time directly to the person owed payment.Aono�ver shall promptly furnish to Lender all notices of ;
<br />-- ` amounts to be paid under this pura�raph.If Borrower makes these payments directly, Borrower sha�l promptly furnish
<br /> � to Lender receipts evidencing the payments.
<br /> 1 ' Borrorier shull promptly discharge any lien which has priority over this Security Instrument unless Borrower. (n)
<br /> = ugrees in writing to the payment of the obligation secured by the lien in a manner ncceptable to Lender; (b) contes�s in
<br /> good faith the lien by, or defends against enforcement of the lien in, legal proceedings�vhich in the Lender's opinion ,
<br /> , uperate to prevent the enforcement of the lien;or (c) secures from the holder of the lien an agreement satisfactory to
<br /> ILender subordinuting the lien to thie Security Instrument.If Lender determines that any part of the Y�operty is subject
<br /> --�--_! r�a lien which mav attain priotity over this Security Instrument,Lender may give Bonower a notice identifying the �
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<br /> lien. Borrower shell satisfy the lien or take une or more oi tnc acnons sec iorin�w�ti ��•�•��� -
<br />:�t notice. -
<br /> �:',': � Form 9028 9/90
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