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<br /> F���'�L(�°��96
<br /> TOGE'I'I-�R W1TH all the improvemea�ts now ua hereafter erected on the property, azid all easements� app�utcnanc�s. and
<br /> fixwres now on c��eafter a pari af the pmperty. All repla�ements and additians shali aLso be covered by this Se�urity Instrum�nt
<br /> Atl of the fr�regoing is referred co in this Security Instrur►�ent as the"Praperty" .
<br /> SORROWER COVENANTS thac Borrawer is lawfully sens�i of the �sta�,te her�by conve�•ed and iias the right to �rant and
<br /> canvey ti�e Property and that the Pr�peRy is unencumbered. exce�pt ft�r et�cumbrances of rec�e�. Barrow,er warrants and will
<br /> defend generally the dde to the Praperty against all claims and demands,svb,ject ta any encumbrances of rer�ord.
<br /> ThIS SE�URITY INSTRUMENT cambines uniform covena�ts for national use and non-uniform �:ovenants vvith limited
<br /> variarions by j�irisdictior�to consritut�a unifc�rm security inswment cavering�reai propPrty.
<br /> UIVIFORM COVFI�IANTS.Borrower and Lende.r cov�s.nt�td agrce as foIlifwS:
<br /> 1.Payrment ot Principal and Interes�4; Prepayment aad l.a�e Cb.arg�.�. F�rnrower shall promptly pay whe�: due ihe
<br /> principat of and�nter�.st on the debt eei�enced by the Nate azxi any prepayment a.r.d late charges due under th�Note,
<br /> Z.Funds for Taxes and insurance. Subject to apglicable }aw or to a c�mtien waiver by Lender, Borrower shal.! pay to
<br /> Lender on the day monthly gay�ents are due under the Note,until the Note is paid in full,a sum ("Fnnds'7 for: (a) yearly taxes
<br /> and assessmenis which may auain priority over this Secur:ty Instrurnent as a Iien on the Property; (b)yearly leasehald paycnenis
<br /> or ground��nts on the Praperey.if any; (c)yearly hazard or property insurance Premiu�r.a; (d)Yea�rly flood insarance pren►iums,if�
<br /> ar►Y; (e) Ye�r'y mortgage insura�ce �c�erniums, if any; and (� any sums gayab4z by Borrowsr to Lender, in accordanc�with the
<br /> provision� of paragraph 8, in lieu of tl�e �rayment af mortgage insurance premitams. 'I1:es� items are calleti "Escrow It�ems."
<br /> Lender may,at any time,coller;t and hold Funds in an amouni nat to ezceed the maaimum amaunt a�ender for a federatly related
<br /> m�rtgage loan may require for Burrowe�'s escrow �cconnt under d`�e federal Real Estate Settlemeat Procedure,s Act of 1974 as
<br /> amer�d�d from timQ to time, 12 L'.S.C. Sectia�n 2601 et seq. {"RESPA"),unless anather law that applies to the Funds sets a lesser
<br /> acnoun� If so, Lender may, at any time. colle�t and hold Funds in an amonnt not to eaceed the le,sser amount Lender may
<br /> estimate:.t�e amount of Funds due on the basis of c•�urecst data and m,asonable estimates of expr�diwres of future Escrow Items or
<br /> otherwise in accordance with appiicable law.
<br /> The Funds shall be held in an institution whose deposits are ensurec� by a federal agency,instrurrientaiity,or entity�including
<br /> Lender, if Lender is such an institution; or in any Federai Home L�a,n Ba;ck. Lender shall apply the Funds �n pa,y the Escrow
<br /> Items. Lende�may not charge Bcamower fo�holding and a�plying the Funds,annually analyzing the escrow accouiot,or verifying
<br /> the Escrow it�ms, unless Lender pays Borrow�r interesi vn the Funds and applicah�e law permits Lender to make such a charge.
<br /> However, Lender ;,�ay require Br,�rrower to pay a one-time c�arge for an independent real est2te ta�c reporting �erviice used by
<br /> icnder in conr.ection with this Iflan, unless applicable law provides otherwise. Unless an agreeruent is made o!r a�plicable law
<br /> requires inta�est w be paid, I.ender sf�all not be required to pay B6rrower any interest or ea�mings on th� Funds. Bomower and
<br /> Lender may agree in writing, t�awever, that interest shalt be paid on*�e.Funds.Len�der sha11 give to Borrower,w�itho�it charge,an �
<br /> annual acc�unting of the�unds, showing �redits and debits to the Fun�s and the pur�ose for which each debit to the Funds was
<br /> made.The Funds are pledged as additiaaal securiry¢or aIl sums secured by this Security Instrumen�
<br /> If the Funds held by Lender ezceed tlze amounts permitYed to be hel�by applicabie law,Lender shal4 aceco�ant to Bornc:wer f�r
<br /> the eACess Funds in accordance with t3ie requirzments of applic�l5le law. If the amaant of the Funds held by L.ender at any time is
<br /> net sufficient to pay the Es�crow Items when dae,Lender may s�notify Borrower in wri�ng,and,in such case Borrower shali pay
<br /> to Lender the amount necessary to make ug the deficiency. Bonrowea shall make ap tne e�eficiency in r�o more than twelve
<br /> monthty�,aym�nts,ai Lender's sole discretion.
<br /> Upan payment in full of all sums secured by thi� Secusity Instrument, Lender sha�.a promptly refund ta Borrower any Funds
<br /> held by Ler►der. If, under paragraph 21, Lender stiall acquire or sell the Property, Lerzder, prior to the ac,��uisition or sale of the
<br /> Propercy, shall apply any Funds held by Lender az the time of acquisition or sale as a cred�t agaiu�st th� sums sec�reci by this
<br /> Securiry Instrumer.G
<br /> ?.Applic�t;on ot Payments. Unless applicable la�pro�ides othezwise,all pa}nnents received by Lender under paragraphs
<br /> 1 and 2 shall t�e applied: first, to any grepayment charges due under the Note; second, to amoi�r►ts payable under paragraph 2;
<br /> third,w intsrest due; fourth,to principal due;and last,w any late charges due under the Note.
<br /> 4.Charges;Liens. Borrower shall pay all taxes, assessments, charges, fines and irnposiaons amr�ibutabla to ��e Propesty
<br /> which may aaain priority over this Se�urity Instrument,and leasehold payments or ground ren�c,if any. Borrower shall pay these
<br /> obligations in the ma.�ner provided in paragraph 2,or if not paid in that'manner, Botrov�rer shall pay them on fime direcdy to the
<br /> person awed paymenG Borrower shall prompdy furr�ish w Lender all nadces of amAUnts to be paid under this paragrag�h. If
<br /> Eorrower makes these payments direcdy�pr�nawer shall prompEly fumish to Lender receipts evidencing the payments.
<br /> Bo�rower shall prompdy dischargs any L`=Ln wh:ich has priurit} over this Security Insorument anless Borrower: (aj agroes in
<br /> writing to the payment of tl�e obiig�on securecl by the l�en in a man�er ac:ceptable to Lender; (b)contesis in good fmith the lien
<br /> by, or defends against enforcement of the lien in, legal proceedings which �in the L.ender's opinioe� operate to prevent che
<br /> e�forcement of the li�en; or (c) �cures from the holder �f the lien an agreernent satisfactory to Lender subordinafing the lien to
<br /> this Secuc�ty Instrum�nt If Lender determines that any part of¢he Praperty is subject to a lien which may attain priority over this •
<br /> Security Inswmenc, Lender may give Borrower a notice identifying the lien. Borrower shall sasisfy the lien or take one or more
<br /> of thc�tions se[fort.h above within 10 days of the givi,ng of notice. .
<br /> Form 3028 9/90
<br /> (�Q-6R(NE)(92t2) Paps 2 ot e Initlab: ___
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