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<br /> 't'p(iBTi-IBR WITH nll tha improvements rt�w on c�re�tter erected on tho pmperty��nd�tll eusemen ,ap enni[ s,and �
<br /> fixturc.g na�w ar hetaitter a p�t of the pn�perty. AII replacsments nnd addidons sh�li �lsp be covered by this Secudry �
<br /> In;,trumcni.AIlI of t�e forc�oinII is referred to in this Sccurity Insuument ua thc"Property" �
<br /> BORRUW�R COVBNAN'C8 thnt Barn�wer Is Inwt�lly seised of the estate hereby wnveysd nnd h�a the right to grant and
<br /> convey th�Proporty nnd thut the Property is unGrxunnbemd�axcept for encumbrIIncea of Kcord. Borrower warrnnts ssnd wiU
<br /> defend geueraliy d�e tttlo to the!'roperty agninst aU clraims and demanda,subject to any encumbratta�of record.
<br /> THIS SECURITY INSTRUMBNT combirtes uniform covenan�s for nnt�oa�al use und non-uniform covenunts wlth Umitod
<br /> i...........ts...r.�r:tu i��atnimP.nt(`nVC!!AR 1C3I PTOUCItY. �
<br /> VAlIQLtQ119 Or)U[ttWt�ttuu iv wi�o�aMw.w.......» -•� '
<br /> UNYFORM COVENANTS.Barrower emi L.ender covennnt und agree as follows:
<br /> 1.p'ayment of Qdncfpat and G►tensti Prepayme.nt and L�te Charges. Borrower shali promptly pay when due tiie �
<br /> principal of end inteoest on the debt evidtaged by the Note und any prepaymenl m►�i iat�charges duc under she Nots. —
<br /> 2.Etindl�for Taxes ond Iusuriutce.Subject to applicable law or to a wtttten waiver by I.ender,Borrower ehal!pay to
<br /> Lender on the day monthly payments are due nnder the Note,unul the Note ls puid in full.a sum("Funds")fur.(a)yearly tuxcs
<br /> and�sessments which may uttain pr�odty over thia Security inst�ument as a 1 ien on the Property;(b)Yearly leasehold paytasnts
<br /> or ground anta an the Property.if any;(c)yearly luzard or prap:rty insurance premiums:(d)yearly Aood iasurana premiums,
<br /> If any:(e)YeartY morigage Insurance premiums. if any;and{�any eur�s paYebte by Horrower w•Lender.in acoordsnoo with
<br /> the provisions of p�ragraph 8, in IIeu of the payment of mortsage insurance premIums.These ite�ns�ue called�Escrow Items."
<br /> Lender may. at any time. coltect and hold Puads in an amount noi w ezosed the mnximum amount a lender for a federel{y
<br /> reiated azortgage loan may tequire for 8omower's escmw a000ur�t under the federal Rea! Estate SEttlement Prooedareg Act of
<br /> 1974 as umended from dme w tIme. I2 U.S.C. Sectinn 2601 et seq.("RESPA").unless another law thaat applies w the Fuada
<br /> sets a Icsser anwunt. If so. I.e�der may.at any dme,colie�t ond hold Purtds ln an aatount not to eacceed the iesser amount.
<br /> Lender may estimate the amount of Funda due on the basia of current data aad reasonable estimates of expendfltures of future
<br /> Escrow Items or otherwise In acc�rdance witb applicable law.
<br /> 11te Fusilda shall be held in an insdtudon whose deposits are insured by a foderal agency. instrtuaentality, or endty
<br /> (including Lender.if Lender is such cu►instiwdon)or in any Federal Home Iroan Baak.Lender shall appSy the Funda to pay thn
<br /> Escmw Icems.L.ender may not chsrge Borrower for holding and applying the Funds,aanuaqy aralYzinB tt►o escaow account,or
<br /> veri£yl��tt� 6�a iu�.us3l�I�su3es psys BOttistvlr intr_.�est oa the Fund.g aod e�plic8blC 18w QCrt�lts Lel�der to[I183t0 suCh
<br /> a at►arge. Aowever,L.ender may requlc+e Borrower w pay a one-timo charge for an independent real estate tax r�potdng servict
<br /> used by Lender in connection wlth this loan, unle�ss appUcable luw pmvides otheratse. tJnless an agreement is made or
<br /> apDlicablcs law ret�u(ces interest to be paid,L.endcr shall not be requtrat to pay Bomower any interest or eamings on the Funds.
<br /> Borrqwer aud Lender may agrce in wrlting. however,thut inter�st shuU be paid on the Funds. Iknatet shall give to�rrowcr;
<br /> � without charge, an ani►uol accoundng of the Funds. showIng credits and debits to the I�unds and the puipose for which each
<br /> dcbit to the Funds was macie.T3►e Funds are pledged as addldonal seatrity for aU sutias socured by tt►is Secudty Insuuraent.
<br /> If the Funda hetd by Lender excee�the amaunts permttted to be held by appllca6lt Iaw.Le:nder shall account to Bomoweg�
<br /> for the excess Funda in ucoordance wid►the requirermats of appl(cable law. If the amount of the Funda held by Lender at eny
<br /> tlme is not suff`iclent to pay the Escmw Itema whea due,Y.eader a�y so not[fy Sornnwer in wddng,snd. tn such casc Bocrower
<br /> shait pay to l.ender�the amount noaessary to make up the deficieacy.Bartower shull make np the deficieucy in ao more than
<br /> ' taelve mo�ithly�ayments, et I..rnder's sote discretion. �•'
<br /> . Upon p&}rtnent in full of ell sums secured by thls Securiry Iastrument.Lender str�ll pmmptiy�refund to 8omower at►y
<br /> Ftwda bcld by ir�nder.If. under paragcaph�l. Lender sl�ail esqutre or seU the Property.Lender.6►rlo;t�the aoquis�Hon mr stle
<br /> of the Peoperty,.,a�all upply ru�y Funds hetc�by I.eader at the time of aoquisit�on or sale as a cratit•agatnst the sums secutnd:b�
<br /> this Socu.dty Instrument.
<br /> 3.AppUtation of Awyme�As.Unless appl iCable Inw provides otherwlse.all payments reoeivcd by Lender under pivagtgphs
<br /> � 1 and 2 sl►o!1 be applicd: fi�st.to nny prepayment ct�erges due under the Note;seoontl,to amounts payuble under paragraph 2;
<br /> third,ro interest due; fourth,to pdncipal due;und last,to any late chsrgts due under the Noce.. . �
<br /> a Ch�rg�;Lleas. Borrower shall pay all te�ces,assessments,charges,fines and impositioas atuIbutable to the Pno�t}�
<br /> wfiich may attain priodty over this Securlty Inshument. epd teasshold payments or gc+ound rents, if any. Borrower aha11 paY
<br /> these obligations in the manner provided in paragraph 2.or tf not patd in,that martner.Borruwer shall pay them on time dtrocdy
<br /> to tho person awal payment.Bornower shall prompdy fumish to Yx�xl�i•atl notices of anaounts to be paid under t1►iis garagrgph.
<br /> , Yf Borcower makcs these payments direcHy, Borrower shall pmmptiy Nrnish to Lender receipts evtdencing tho pxyments.
<br /> Borrowcr shall promptly discharge any Iten which hs�s priority over thss Security Insuument uniess Bormwu:(a)a�,�+ees In
<br /> writing to the payment of the obligatton secuced by the liea in u manaer axeptable to Lender. (b)contests in good faith the litn
<br /> by, or defends against enfor�ent of the Iten in. tegal pmoeedings which in the Le�xler's opinton operate to pnvent the
<br /> enforarnent of the lien;or(c)seoures from the holdcr of the lien an agreement satasfactory to Gender subordtnaang the tien to
<br /> this 3xurity Instmment. If Lender detemtines that any part oi the Pcaperty ia subject to a tien wtdch may nttain priorlry aver
<br /> this Stcudty iasmiment. Lender m�y�ive Borcower a nottoe tdentifyiqg the iten.�urrower shaii sadsf�r the lien or q{�e oaa or
<br /> more oF tt�e act�ons set forth nbove within 10 days of the giving of nutice.
<br /> . Farm 3Q28 8/80
<br /> Pape 2 of 8
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