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<br /> TOCIETHBR WITH NI the improvemeats now or hemafter erected on the praperty,and all easements,appurtenances,end
<br /> fixturcs now or hemufter a part of the property. A!I replecements and additions shall also be covered by this Secur�ty
<br /> Instrument.All of the forcIIoing is referred ta in this Secudty Instn►ment as the"Property."
<br /> BORROWER COVENANTS that Honower ie lawfully seised of the estate hemby conveyed and hes the right to grant and
<br /> convcy the Property and that the Property ia unencumbered. except for encumbrnnces of record. Borrower warrar!te and will
<br /> det'end genemily the title to the Property ag�inst all clairtu and demnnds.subject to eny encumbrances of record.
<br /> 'fHIS SECURITY 1NSTRIJMENT combines uniform covennnts for national use and non-un�form wvenants w3th limited _
<br /> vuriadons by jurlsdIction to constitute a uniform securiry Instrument coverin�real property. _
<br /> UMFORM COVENANTS.Borrower and Lender covenant artd agree ns follows:
<br /> i. Puyment of Pr[ncipal and Interest;Prepuyment s+ad Lnte Churges. Borrower shall promptly pay when due the
<br /> princips�l of and interest on the debt evidenced by the Note and eny prepayment and late cherges due nnder the Note. _
<br /> 2. Funds for Tuxes and Insurance.Subject to applicable law or w a wrltten waiver by Lender. Borrower shall pay w
<br /> Lender on the day monthly payments are due under die Note.until the Note is paid jn fuU,a sum("Funds")for:(a)yearly taxes
<br /> end assessments which may uttnin priority aver thls Security Instrument as a tlen on the Property;(b)yearly leasehold payraents -�
<br /> or ground reats on the Property.if any:(c)yea�ly hazard or prnperty insurance preu�iums:(d)yeariy flood iasurance premiums, _
<br /> if any: (e)yearly mortgage insurance premlums, if any:and(�any sums payable by Borrower to Lender.Ia accordaace with
<br /> the provisions of pare�raph 8.in Iteu of the payment of mortgage�nsurance premiums.Thes�items are celled"Escmw Items."
<br /> Lender may. at any cime. collect and hold Funds in an emount not to exoeed the maxlmum amount a lender for a federally
<br /> relatecl mortgage loan may require for Borrov�er's escrow account under the federal Real Estate Settlement Pnncedures Act of
<br /> 1974 as amerute,ci fmm tfine w Nme.12 U.S.C.Section 26411 et seq. ("RESPA"),unless another law that applies to the Funds
<br /> sets a tesser amount. If so. Lender may.at any time, collect and hold Funds in an amount not to exceed the lesser amount. �
<br /> Lender may estimate the amount of Funds due on the basts of current data aad reasonable esamates of expenditures of future
<br /> Escrow Items or otheruvlse in accordaace with applicable law.
<br /> The Funds shall be held in an lnstitutIoa whose deposits are Insumd by a federal agency. iasuumentality,or entity
<br /> (incinding Lender.if Lender ts such un insUtution)or in any Federal Home Loan Bank.Lender shall apply the Funds w pay the
<br /> Escrow Items.Lender may not charge Barrower for holdiag and applying the Funds.annually analyzing the escrow account.or
<br /> verifying th�Escrow Items.unless Lender pays Borrower in�t on the Funds and appltcable law permits Lender to make such
<br />_ a char�e.However.Lender may require Borrc►wer to pay a oae-time charge for an independent real estate tax reporting service l
<br /> used by Lender in connectIon with this loan, unless applicable law provldes otherwise. Untess an agreement ls�ade or
<br /> apppcable Iaw reyuires interest to be paid.Lender shall not be c+aquirad to pay Borrower any iaterest or eamin$s on the Funds.
<br /> Borrower and Ixnder mav gttr�ee in writing, however, Wat interest shaq be paid on the Funds. Lender shall give to Bonower.
<br /> without charge, an annual axountiag of the Funds, showtng c�+edits and debits to the Funds and the purpose tor which eazh
<br /> debit to the Funds was made.Ths Funds are pledged as addirional security for al!suaos secured by this Securlty Instmment.
<br /> If the Funds held by T.ender exoeed the amounts pen. ..ed to be held by applicable law.Lender shall acoount w Borrower
<br /> for the excess Furtds in accordance with the requirements of applicable law. If the amount of the Funds held by Lender at any
<br /> time is not sufficient to pay the Escrow Items when due,Lender may so notlfy Borrower in writiag,and.ia such c�se Bomnwer
<br /> shall pay to Lender the amount neccssary to malce up the def ciency. Borrower shall make up the deficiency in no�nore than
<br /> twelve monthly payments,at Lender's sole discretion.
<br /> Upoa paymem in fiill of all sums secured by thia Secur�ty Insuument. Lender shall prompdy refund to Borrower any
<br /> Fuads held by L.endec.If. under paragraph 21,Lender shall soquire or selt the A+operty.L.ender.prIor w the acquisi8on or sale
<br /> af t�e Property.shall apply any Funds held by Lender at the dme of acquisidon or sale as a credlt against the sums secured by
<br /> thisSecurity Insnvment.
<br /> 3.Appticatton of Payments.Unles.s app6cable law provides otherwiss.all paymeenss received by I.cnder under pa:agraphs
<br /> 1 and 2 shall be applied: first,to any prepaymeat charges due under the Note;second.w amounts payable ander paragraph 2;
<br /> thind,to tnterest duc;fourth.to prinapal due:aad last.to any late chatges due under the Note.
<br /> 4.Chstrges; Liens. Borrower shall pay a11 taxes.assessments,chacges.fines and lmposidons aztributsble to the Ptoperty
<br /> which m3y attain priority over this Security fnsuument. and leasehold payments or g�nund rents, if any.Barrower sball pay
<br /> these afiligations in the maaner pruvided in pazagraph 2,or if aot paid ia.tlu�t manner.Borrower shall pay them on time direcdy
<br /> to t6e person owed payment.Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragcaplt.
<br /> Ig Horroxer makes these payments dIrectly,Bomower shall prompdy fumish to Lender receipt�evtdencing the pnymeats.
<br /> - Bomower shali pmmpUy discharge a�►y lien which hes priority over this Sera�rity insu'ument untess Borrower:(a)agrees in
<br /> wrldng to the paymem of the obligation secumd by the iien in a manner acceptabie W Lender;(b)wntests in Sood fdth the llen
<br /> by,or defends against enforcement of the lien in, legal pmoeediags which in the Lender's opinion operate ro prevent the
<br /> enforcement of the Gen;ar(c)sec�res from the holder of the lien an agreement satisfactory ta Ixnder subordina6ng ttte lien to
<br /> this Security instrnment. If Lendar determines that any part of the Property is subject to a lien whlch may attain priodry over
<br /> this�urity Instrument,I.ender may give Boaower a norice identifying the lien.Borrower shall satisfy the lien or teke oae or
<br /> more of ttte acrions set forth above within 10 days of the giviag of aotice.
<br /> Form SDZB 8/80
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