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<br /> '� TOC3ETHER WITN ttll tite improvemcnt�now or hereafter erected an the property.nnd ull casem�nts. �ppurtennnccs, nnd �.
<br /> fis.tures now or Itereafter a part of the prc►perty, AU replacements and additions shall ulso be cov�red by this �ecurity �`
<br /> "; Instrument. All of tlie fore,oing is refcrrecl to in thi5 Security Instrument ns the"Property." �
<br /> �?� BOItROWER COVENANTS thut 0orrowcr is In�vflilly scisul of tiie estntc hercby canvcycd unJ hns the right to gront and
<br />°�'=� convey the Property nnJ thut tlie Pruperty is unencumbereci, except for encumbrances of record. Borrower warrunts nnd will __
<br /> defenA gencrnlly thc title tu the Property against all cluims and dcmands, subjc:ct to nny encumbranccs of rccord. �_
<br />-;�;,� THIS SECURITY INSTRUMENT cambines uniform covenants for nationi�l use and non-uniform covenants with limltcd
<br /> v�ri��inn�hv iurisdiction to constitute n unifornt sccurity instrumcnt covcring rcul prap�rty. �
<br /> �`�� UNIFORM COVENANTS. Borrower und l.ender coven:uu and agree as fullows: -
<br /> ,'�,�.� 1. PAyment af Pr9ncipal anci Interest; Prepayment And Lute Churges. Bottowcr shall promptly pay when due the =.-
<br /> �� principal of nnd interest on die debt evidenced by the Notc and any prepayment nnd late c!�nrges due under the Note. �
<br />� 2. Funds for Tuxes and Insurance. Subject to applicable law or ta a �vritten waiver by Lender, 8orrower shull pay ta _
<br /> =�� L.ender ai the day monthly payments ure due under the Note, until the Note is puid in full,a sum("Funds") for: (u)yearly taxes
<br /> and assessments which may attain priarity over this Security Instrumr.nt as a lien on thc Aroperty; (b)yearly leasehold puyments
<br /> -�� or ground rents on the Property,if a�iy;(c)yearly hazard ar property insurance premiums;(d)yeariy flood insurnnce premiums, _-
<br />"_�;� if any; (e)ycarly mortgage insurnnce prcmiums, if any; and (�any sums paynble by Bonower to Lender, in accardance with
<br /> ��d the provisloi�s of par�graph 8, in lieu of thc payment of mortgage insurance prenuums. Tl�ese itcros are called "Escrow[tems."
<br /> ,�,� Lender m�y, at any timc. collect und hold Funds in an sunount not[o excecd the maxiuiuni amount a lcndcr for a fcderally
<br /> — related mortguge loan may require for Borrower's esemw account under the federnl Real Estate 5etdcment Proceclures Act of
<br /> - 1974 as amended from time ta time. 12 U.S.C. Section 2601 et seq. ("RESpA"), unless another law that applies to thc Funds
<br /> --- sets u lessee smount. If so, Lcn3er may, st any time, copect and hold Funds in un amount not to exceed the lesser amount.
<br /> __:`� Leqder may estimate the amount of Funds due on thc basis of cuncnt duta and reasonabie estimates of expenditures of future
<br />_.;s.�,� � Escrow Items or othenvise in accordance with applicable law.
<br /> The Funds shall be held in an institution whose deposits are insured by u federal agency, instrumentality, or entiry
<br /> - - (including L.ender,if Lender is such an institution)or in any Federal Home Loan Bank. L.ender shall appfy the Funds to pay the
<br /> -- Escrow Items. Lender may not charge Bonnwer for holding and applying thC Funds,annually snalyzing the escrow account,or
<br /> .�— verifying thc Escrow Items, unless Lender pays Borrower interest on thc:Funds nnd applicable taw permlts Lender to make such
<br /> a cliarge. However. Lender may require Honower to pay a one-time charge far an independent real estate tux reporting service
<br /> — used by l.ender in cnnnection with this loan. unless applicable law provldes otherwise. Unless un a�ree.ment is made or
<br /> — applicable law requires interest to be paid, Lender shall not be required to pay Borrower an,y interest or eurnings on the Funds.
<br />- _— Borrower and I..ender may agree in writing, however,thut interest shall be paid on the Funds. I.ender shall give to Horrower.
<br /> �;�;j���u:�;�w.��, ;�n �^n��^'!�rlRo�f the Funds. showing credits and debits to the Funds and the purpose for which each
<br /> - debit to the Funds wa�made.The Funds�tre pledged as addltional security for all sums secured by this Security Instrument.
<br /> If the Funds held by L.ender exceed the amounts pemiitted to be hcld by applicable law,I.ender shall account to Borrower
<br /> Y for the excess Funds in accordance with the rec�uirements of applicable law. If the amount of the Punds held by l.ender at uny
<br /> time is not sufficient to pay the Escrow Items when due.Lender may so notify Borrower in writing,and,in such case Borrower
<br /> _ shall pay to L.ender the wttount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than
<br /> twelve monthly payments,ut Lender's sole discretion.
<br /> - Upon payment in full of a!I sums secured by this Securiry Instrument, Lender shull pranptly refund to IIorrower any
<br /> -- Funds held by I.ender. If,under paragraph 21,Lender shall acquire or sell the Property,Lender,prior to the acquis3tion or sale
<br /> of the Pn�pe�ty,shall apply any Fu�ids held by Lender at the time of acquisition or sale ns u credit against the sums secured by
<br /> - thls Security Instrument.
<br /> 3.ApplYcsttion of Payments.Untess applicable law provides otherwise,all payments received by Lender under parngraphs
<br /> 1 and 2 shall be applied: first, to any prep�yment chArges due under the Note; second. to amounts payable under paragraph 2;
<br /> dii��l,to interest due;fourth.to principal due;and lust,to any late charges due mider the Note.
<br /> 4.Charges;Liens.Born�wcr shull pay all taxes, assessments,char�es. fines und impositions attribuWble to the Properry
<br /> -- which may attain priority over this Security Instrument, and Icasehold payments or sround rents, if any. Borrower shall pay
<br /> the�e obligations in the manncr provided in parngraph Z,or if not patd in that manner, Harrowcr shull pay them on time directly
<br /> - M the person otved puyment. Borrowcr shuil promptly furnish to Lender all notices of amaunts to be paid undcr this parugraph.
<br /> If Bonowcr makes these pnyments directly, Boreower shall promptly furnish to Lender receipts evidencing the payments.
<br /> Horrower shall promptly discharge any lien wl�ich has priority over this Security Instrument unless Borrower:(a)agrees in
<br /> writing to the payment of thc obligation secured by the lien in a manner acceptAble to Lender;(b)contests in�ood faith the lien
<br /> by, or defends against enforcement of the lien in, Iegal proceedings which in tlte Lender's opinion operate to prevent the
<br /> enforcement of the lien;or(c)secures from the holder of the lien an c+greement satisfacto�y to Lender subordinating the lien to
<br /> "- this Security instrument. If L.ender determines that any part of the Property is subject to a lien which may attain priority over
<br /> "° this Security Instrument,l.ender may give Borrowcr u notice identifying the lien. Borrower shall satisfy the lien or takc one or
<br /> ----� rnore of the actions set forth above withln 10 days of the giving af noticc.
<br /> "� —— Form 3028 9/80
<br /> —--- Pnnn t u�6
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