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<br />, TOOE'I'HER WITH all the improvenxents naw or hereaftcr ecected on the property,und ull casements,�pNu�tsnancc9.
<br /> ; and f►r.tures now e,r hereaitcr a pan of thc pm[xrty. Ali replucements and add�dons shall also be covered by this Security
<br />'i Insi,u�i�eAit. Alt o:tli;forag�ing is rcferctd to in thic Secu!ity Instrument as the"Dtoperty." _- _
<br /> �aORROWER COVENANTS that Bamower is lawfully sclsecl of the estate hereby conveyed and has the dght tr�grnnt
<br /> � and convey the Property and that the Pcupeny is unencumbered,eacept for encumhmnces of record. Borrower warrants and
<br /> � wiU defend generally tria dtle to tha Property ugainst all cl:ums and demands,subject to any encun►brnnces of record.
<br /> � THlS SECURITY IAISTRQJMENT combines uniform covenaats for national use and non-uniform r.ovenonts with
<br /> � li►nited variations by jurisdictior�to consdtute a unifozTn s�curity instru�ttent covering real property.
<br /> UN1I��t2M COVENP�NTS. Eorrower nnd Lender covenmu and agree as foliows: __
<br /> 1, Psryment ot Frlacipof and Interesl;Prepayment and Lnte Charges. Boirower sh�ll promptly pay wheu due the
<br /> principal of and interest on the de6t evidcuced Uy the Noie and any prep:+yment and late chtuges duc under the Not�.
<br /> 2, F'unds tor'11�axes and Imsurance. Subject to applicnble la�v or to a written�v�iver by Lender.Aoaower shaU pay¢o
<br /> l.ender on the day monthly payments Are duc under the Note.until che Note is paid in full,a sum("Flsads")c�l� laeasehold -
<br /> taxes and assassments which may uttain priority over this Security Instrument as n lien on the Property; (b)Y earl fload —
<br /> payments or ground rents on the Property, if any; (cj yearly hazard or property insurance prertdums; (d)y y
<br /> insnr�nce premiums, if nny;(e) yearly mortgage insurance premiums,if any; and (� eny sums payable by Elorrawer to
<br /> Lender,in accarclanee with the provisions of pa�a�aph �,in lieu af the payment of mortga�e insur.ic�ce psemn+sns. These
<br /> iterns are called"Escrow[tems.' Lender muy,at a�ry nme,collect und hold Funds in un umount not to exceed the mnximmn _
<br /> amount u Icnder tor u icderaiiy reivaed mongage Iua►,.�ay ;�quir:,far Bc.�ro��er's ese*nw account under the f�decal Real `__-_
<br /> Estate Se�ilement Proccdures Act of 1974 as amend�d finm tirne tn time,l2 U.S.C.§2601 et seq.("RFSPA").unfess artother �
<br /> law that applies to the Funds se�s a lesser amaunt. If so,Lender may,at uny�i►ue,callect and hold Eunds in un amount not ta F-=
<br /> exceed the lesser amount. [,ender may esdmate the a�ount of Funds dae on the basis of current data and nasonable
<br /> estimutes of expenditures of future Escrow Items or otherwise in accordance with applicable law. ��;;
<br /> The l�nds shall bc held in nn institution whose deposits are insured by a fcderal agency, instrumentality,or entity _,_
<br /> (including Lender,if icnder is sucl►an instituuon)or in any 1Federal Home i.�nn Rank. Lcnder shall apply the f-unds to pay �
<br />' the Escrow Items. Lender may not churge Borrower for holding and applying die Funds,annually analyzin� the escrow —
<br /> accounc. or verifying the Escrow Items, unless Lender pays Boaawer interest on the Funds and applicable law pemuts __ `
<br /> Lender to make such a charge. However.Lender may rcyuYre Borrower to pay a one-time charge far an independent real
<br /> ���rxx.rpnrtine service used by I.ender in connecdon with this loan,unless applicable law provides othenvise. llnless un _
<br /> agrecment is mudc or appl'acuble law requires interest to be paid,�ender s�aii noc be reyui�cd io�a3 8arra�er«r,�»^.t°•rpat er
<br /> eamings on the�nds. Aoaower and Lender may agree in writing,however,that interest shall be paid on the�nds. Lendet
<br /> shall give to IDorrower,without charge,an nnnaal accountin�of the Funds,showing credits and debits ta the Funds a�d the
<br /> - purpose far which eac}�debit to the Funds was made. The Funds are pledged as additional security for all sums secured by —
<br /> this Security Instrument. —_--
<br /> - If the Funds held by Lender exceed the amounts permitted t� be held by npplicable luw,Lender shall account to ��__.
<br /> - Borrawer for the excess Funds in accordance with the requirements of applicable law. If the amount of the Funds held by �,
<br /> Lender�{t any time is not sufficient to pay the Escrow Items when due,Lender may so notify Borrower in writing, and,in
<br /> such case Botrower shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the k,.,�..:,
<br /> -' deficiency in no¢nore than twelve monthly payments,at I.ender's sole discretiun. �
<br /> _ Upon payment in full of all sums secured by this Securiry Inswment,Lender shall prompdy refund to Borrower any ,��_'
<br />--� Funds held by L.ender. If.under puragrsph Z1.Lender sh�ll ecs�uire or sell the Property,Lender,prior to the acquisition or
<br />.� sale of the Property. shall apply any Funds held by Lendcr at the time of acquisition or sule As u credit against the sums .,� .
<br /> - secured by this Security Instrument. '�'```
<br /> -- 3. Applfcation o[ Poyments. Unless applicable law provi des o t hcrwise, u ll p a y m e n t s r e c c i v e d b y Lender under ___
<br />= paragraphs 1 and 2 shall be applied:first,to any prepayment charges due under the Note;second,to amounts payable under ':;�_
<br />_ paragraph 2;third,to iNerest due;fowth,to principal due:and last,to any late char�es due undec thc Nnte. S,>:..
<br /> = 4. Charges; I.Iefls. Borrov�er shall pay all taxes, assessments, charges, fines nnd imposidons anributable to the ;,,;,,
<br /> - Property which may attein priority over this Security Insuument,and leasehold payments or ground rents,if nny. Bonnwer
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<br />-:; shall pay diese obligaqons in the mnnner providcd in pnragraph 2,or if not paid in that manner,Borrower shall pay chem on
<br /> = time direcdy to the person owed payment. Borrower shall promptly furnish to Lender ull notices of amounts to be paid under
<br />= this paxagraph. If Bocrower makes these payments direcdy.Borrower s�iall promptly fumish to Lender reccipts evidencing
<br />_ the payments.
<br />= Borrower shall prompdy discharge any licn which has priority over this Security Inswment unless Boaower:(a)agrecs
<br /> — in writing ta the payment of the obligarion secured by the lien in a manner acceptable to Lender;(b)contests in good faith the „
<br />- lien by,or defends against enforcement of the lien in,legal proceedings which in the Lender's opinion operate to pn:vent the
<br /> - enfoncement of the lien;or(c)secures from the holder of the lien an agrcement satisfactory to Lender subordinating thc lien
<br />=- to this Sec.uiry Instrument [f Lender determines that�+ny part�f thc Property is subject to a lien which may attain priurity
<br />_ over this Security Insuumen�Lender may give Borrowet a notice idenufying the licn. Borrower shall satisfy the lien or take �,;5
<br /> � one or morc of the actions set forth above within 10 days of the givin�of notice. .�`'r?':
<br />"'� S. Hazard or Property Insuranoe. Sonower sh�11 kcep the improvements now existing or hemafter erected on thc
<br /> i�• Propeny insured egainst loss by fire,Uazards included within the term"extended ccverage"and any other hauirds,including
<br />'� tloods or flooding, for which Lencler requires insurance. This insurance shall be maintuined in the amounts and for the
<br /> Gorm 30t8 9/90 Ipuge 1 oJ6 pages)
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