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<br /> TOt38TH�R W1TH ull the impruvementx now ar hereufter erected on the prope y.nnd utl ensemente.appurtensinces.and
<br /> fixtures now or herenftec u part af tlie property. All replace��ents and ndditfonA shall ulsa be covered by thiF Security
<br /> Instrument. Atl af'thc foregoing is ret'errai ta in this Security Inatrum�rtt as the "Property."
<br /> BORROWER COVENANTS thnt Barmwcr is luwfully sclsvd af the estute hcreby conveyed und ha�thc right to grnnt anJ
<br /> ennvey the Property and tNut the Property is uncncu�nbered. except for encumbrunce� at recard. Barrower wArrunts und will
<br /> defend�enernlly the title to the Property uguinst ull cluimc und demarnis.subject to nny encumbrances af recarcl.
<br /> THIS SECURITY INSTRUMENT combines unifartn covenantR far nutionat use und non-unifarm covenunts with limite�l
<br /> variutiom by juriticiictiun ta cansdtute a ui�ifarm serurity inxtnnnent covering rcal praperey.
<br /> UNIFORM COV�NANTS. Honawcr and I.cndcr cavenant nnd ugrcc a�fallows:
<br /> l. Puyment of Prtncipul und Intere.st; Prepuyment und I.ate Churges. Borrowcr shull promptly pay when due the
<br /> pdncipal of and interest on the debt evidenrai by the Natc and Qny prepayment and late chargcw due under the Note.
<br /> 2. Fttnds for Tuxes und Insurtutce. Subject ta applicnblc luw ar to a written wuiver by I..ender. Barmwer shall pay to
<br /> I.endcr on the dny monthly pnymenGc ure due under the Note,until the Note is paid in full,u sum("Funds")for: (a)yearly texes
<br /> and asscssmcnt�which may uttnin prlorlty over this Secur�ty(nst�ument as a lten on the PropeKy; (b)yearly leusehaid payments
<br /> or grourtd rent�on the Property.if any;(c)yei+rly hazard or property insurance premiums;(d)yearly flood insurance premiurr�s.
<br /> � if any:le)yearlY mort�age insucance premiums, if uny;und(�any sums paystble by Borrower to I.ender. in accordance with
<br /> the provisions of paragrnph 8,in lieu of th�paymont uf mortgage lnsuranre premiums. TRese items ure called"Escraw Items.°
<br /> I.ender may,at any time, coilect and hald Funds in an tunount not to excced the maximum amaunt a lender for e federally
<br /> reluted mortgage loan may require for Borrower's escrow accaunt uttder the federnl Rea! Estate Sett(ement Procednres Act of
<br /> 1974 es umeivic�from time to time. 12 U.S.C. Section 2601 er seq. ("RFSPA"). unless unother law that applies to the Funds
<br /> sets a lesser emount. lf so. l.ender may. ut uny time,coitect�u►d hold Funds in an amaunt not to exceeci the lesser amount. -.
<br /> Lender may estimate the amount of Funds due on the basis of current data end masonsble estimates of expendltures of future
<br /> Escrow Items rr otherwise in accordance�vith upplicuble lnw.
<br /> The Funds shull be hsld in un institution whose depc�si�s are In+urr�l by a fixierat agency, instrumcntulity. or entity
<br /> (including Lender.if Lender is cuch an insdtution)or in w►y Federal Home Loan Bank. L.ender shall apply the Funds ta pay the
<br /> Escrow Items.i.ender may not char�e Borrower for holding and upplyin�the Funds,annually analyzing the escrow account.or
<br /> verifyin�the Escn�w Items.unless I.cnder pays Bonower interest on the Funds and appiicable law permits Lender to make such
<br /> a chnrge.However.I.ender may require Borrower to pny a one•time charge for an independent real estate u+x reporting service
<br /> used by Lender in connection wlth this loan. unless applicable law provtdes u3herwise. Unless an a�reement is made or
<br /> applicable law requires interest to be paid.Lender shall not be required to pay Borrower any i�terest or earnings en the Funds.
<br /> Borrower and Lender may agree in writing. however.that interest shall be paid on the Funds. I.cnder shall give to Borrower.
<br /> wit4�out eharge, an annuai accounting o£ttic Fu�r�i�+. sh�wing cr�dits aad drbit�to the Funds end th�pnrpose for whieh eaeh
<br /> debit to the Funds was made.The Funds are plodged as addttional sec:urity for�Il sums secured by thjs Serurlty Inatniment.
<br /> If tha Furtds held by L.ender excced the amoun�s permitted to be held by applicable law,Lender sha11 account to Bomower
<br /> for the excess Funds in accordance wlth the requirements of applicable law. [f the amount of the Ftitnds held by I.ender at any
<br /> time is aot sufticient to puy the Escrow[tems when due.L.ender may so notify Borrower in wrIting.end.in such case Borrower
<br /> aht�il pay to I.ender the amount necessary to muke up the deficIency. Borrower shall maice up the defiziency in no more than
<br /> twelve monthly payments.at Lender's sole discretlon.
<br /> Upon payment in full of all sums secured by this Security Instrument. L.ender shall promptly refund to Borrower any
<br /> Funds held by Lender. If.under parngraph 2 i.Lender shall ucquire or sell the Property.Lender.prlar to the ncquisitlon or sale
<br /> of the Propetty.shall apply any Funds held by L.ender at the tims of acquisttton or sele es a cred�t agutnst the sums securc�d by
<br /> this SecutIty Instrument.
<br /> 3.ApplicaUon of Payments.Unless applicable law provtdes otherwise,all payments received by L.ender under paragraphs
<br /> 1 and 2 shall be applied: first.to nny prepaymer+t charges due under the Note: second.to amounts payable under paragraph 2;
<br /> third,to interest due:fourth,w prtncipal due;and last,to any late charges due under the Note.
<br /> A. Charges; Liens. Borrower shall pay all taxes,assessments,charges, fines and impasitions astributable to the Property
<br /> which may attsin priority over this Secudty Instrument. and leasehold payirtents or ground rents. if ar►y. Borrower shali pay
<br /> these obligAtIons in the manner provided In paragraph 2.or if not paid in that manner,�orrower shall pay them on time directly
<br /> to the person owed payment.Borrower shall promptly fumish to Lender all notices of s�mounts to be pald under this paregraph.
<br /> if Borrower makes these payments directly,Borrower shall promptly fumish to Lender receipt�evidencing the payments.
<br /> Borcower shall pmmptly discharge any lien which has priority over this Security Instrument unless Borrowerc(a)agrees in
<br /> writ9n�to the payment of the obligatlon secured by the lien in a manner acceptable to L.ender;(b)oontests in good faith the iten
<br /> by. or defends against enforcement of the lien in. le�al proceedings which in the Lender's opinton ogerate to prevent the
<br /> enforcement of the lien;or(c)secures from the hotder of the{ien a�►ugre�ment suUsfactory to Lender subordinatin�the lien tu
<br /> this Security Insir,:ment. If I.ender determines that any part of the Property is subject to a lien which may attsiin prior�ty nver
<br /> this Security Instrument. Lender muy give Borrower a notice identitj�ing the lien. Borrower shall satiafy the lien or wke one or
<br /> more of the acttons set forth abave within 10 days of the giving of notice.
<br /> 6orm 3028 9/90
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