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<br /> • � • T(KiETH�R WITH ull Ihe improvements now or hereafie�crec�ed nn Ihe pmperty,imd ull casemenls,uppurtenances, � *•"' "
<br /> " .�: � , � and fialure9 now or hercafter n pah of the pmpeAy. All repincements and nddiU�ns ahwll al�o be covered hy Ihi�Securi�y � . ,:. r;n�,T;.
<br /> Instrumenl. A l l oi the Poregaing is refernd lo in this Secu�iry Inatrumen�as the"Property." �a ,
<br /> � � . BORROWBR COV�NANTS that Barrawe�is luwfully aeised of the ealute het+eby conveyed and haK�he righ�tu gmnt ;
<br /> . I end rnnvey the Property und thnt�he Prupeny i�.unencumbcrcd,except for enrumb�unce9 of rcc�+rd. Normwer warranto ai�d �
<br /> will Jefend generally 1he ti11e to Ihe PrapeRy against al l cleim�ond JemAnde,�ubjecl!o w�y encuml+rnnces of rec�xd.
<br /> THIS SECURITY INSTRUMENT combineq unliorm cavenums for nationul uRe und non•uniform cavenuMa with
<br /> limiled vodolione by ju�isdicUon to conaUtul¢e uniiortn securily inalrument cove�{ng rewl property. ,. _ . ,
<br /> _�• UNIfORM CQVENANTS. Hort�wer and I.cndercavenent and ogrce uc fullows:
<br /> 1. I'ayment of Princlpnl wnd Inleresti Prep�yipenl aad l.pte ChArges. BorTOwer shall pmmptly pay when due�he
<br /> princiPal oi and interest c►n the debt evidenced by the Note and any prepayment�nd late cha�ge9 due under the Na1e.
<br /> � � 2. Funds for'Ibxes and Inxuronce. SubJecl lo applicublc law�r Io n wrjtlen wuiver by l.ender,Borrower sholl puy u� , •
<br /> Lender on the day manthly payme�ts are due under the Note,until Ihe Note is paid in full,a cum 1"Fundq'1 for: (+il yeurly •
<br /> . tnxeK and wssessmenis which may attain prioriw avcr this Security In�trument as a lien an thc Propeny:lb1 yearly Icaschold �
<br /> pnymenta or ground tenls on Ihe Propeny, itt nny; (c)yearly hazarA ar propeny insurance premiumg: (d) yearly flood
<br /> inauronce premiums, if any; (e) yearly mongnge inssurance premiums, if any; and (Q eny suma payeblc hy Bonower�o �
<br /> Lender,in accordance with the pmvisiona oi pamgruph B. in lieu of�he pnyment uf mortgage insurunce premiuma. These
<br /> � ' � items arc called"Escrow Items." I.ender moy,at uny tfine,collect and hold FLnds in an amaunt not to exceed !he maximum �
<br /> � �� amounl n lender for n fedcrally rcla�ed mangage loan may requi�e for Borrower's excrow accaunt under the fedeml Rcal ,
<br /> •��� � Est�te Senlement Pracedurea Act of 1974 as amended from time ta dme,12 U.S.C.�2601 er seq.("RBSPA"),unless another ( .
<br /> ( law that s►pplies to the Funds rets a lesser amount. If so,Lender moy,at any time,collect and hold Funds in on amount not to i .
<br /> � exceed Ihe lesser amount. Lender may estimate the amount of Funds due on thc bpsis af cuRent dwta and reawnable ±
<br /> e�dmates of expendilures of future Escrow Items or otiurwise in accordance wfth applicable lew. �
<br /> -� � The FuRds shall be held in an institulia► whose de�sl�s nre insured by a Pederni ngency,ins�rumcntalUy. cx eMUy '�
<br /> •�� (iacluding Lender,iP Lender is such an institu�ion)or in any Federal Hame l.oun Bunk. Lender shull apply�he Punds�o pay • .
<br /> ,• .';• the 6scrow Itema. l.ender mny not cha�ge Barrawer for hofdiog and applying Ihe Funds,unnuully nnulyxing�he escrow � �� ���`w=��
<br /> � accoun�, or verifying the Escrow Items, unkxg Lender pays Honow•er interes�an the Fundg nnd upplicoble Inw permi�s �'`':
<br /> -- � � � ' Lender to mnke such a charge. However,Lendrr may require Bormwe�to ps+y a one•time churge for un independent reul 1•�-
<br /> • � ' eRwte lax repoqing service used by Lende�im m�nection with this loan,unle�s�pplicuble luw provides othenvise. Unlexs nn ' ��,�
<br /> . ;i agreement is rnade or applicnble law requires interest ta be paid,Lender vhull not be reyuired lo pay Borcower nny interex�ur ; x=
<br /> � ' � ' eamings on the Funds. Borrower und l.ender muy agree in wri�ing,howcver,Ihu�interest shall be paid on�he Funds, l.cnder ' �;
<br /> � ''' shall give to Bortc�wer,wi�hout charge,nn unnunl accounting of Ihe Fundc,tihowing crcdits und debils to�he Fundx und Ihe � � '. �,� �,
<br /> ��. purpose for which each deblt lo Ihe Funds wes made. The Funds are pledged as addiiianol securiry for all sums xecured by ,�
<br /> ::`� this Securi�y Ins�rument. ' -
<br /> If the Funds held by Lender ezceed Ihe umountc permitted to be held by npplicuble luw, L.ender shull uccount io �:' --.
<br /> Bormwer far the cacess Funds in uccordance with ihe reyuirements oi applicuhle law. If �he amouni oi'�he Funds held by � '
<br /> — - -..;,,,, i.eades at an.•sime is aot suffsrient�o pay�he EscmeY ltems es�ls:n due,l.enckt msy Qi�n�l+ly Rnrrc,wer in writine.and.in . �
<br /> such cuse Bortawer sh�ll pay ro Lender �he amount neces�ary �o mnke up �he deficiency. Borrower shali muke up the ��
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<br /> � ;•i•�� dePtciency in no more Ihnn twelve monthly poyrnenls, nt Lender�sole discre�inn.
<br /> Upan payment in full of ull sums securcd by�his Securi�y lnsttumenl,l_cnder shall prnmp�ly rciund to Bnrrowcr nny
<br /> Funds held by Lender. If,under paragrnph 21,Lendcr shull acyuirc or sell�hc F'ra�xny.Lcndcr,prii�r ai ihc ucyuirition�ir
<br /> '. . I snle of the Property,shell opply any Fur.ds held by Lender et the�ime of acquisi�ion or yale ns a crr.dit ag�inxt �he sums ; ,
<br /> securcd by lhis Security Ins�rument. .,.. '%''
<br /> �� ". ; 3. Appltcatbn of Paymenta Unless s�ppllcs�ble luw providec otherwise,ull payment� recelved by Lender under
<br /> • purngtaphs I ond 2 shall be npplied:fi�t,to any prcpuyment churges due under�he No�e; �econd,ta amuums payaMe under , . -
<br /> � paragmph 2;third,lo interest due;fourth,to principal duc;nnd last,to uny lute chnrges due undcr thc Note. ' • -
<br /> � 4. CbwrQes; Uene. Borrower shnll puy ull taaea, nssessments, charges,fines and impnsitions allributahle to the � ..
<br /> Propeny which mny nttuin priority over thls Security Ins�rument,nnd leasehold payments or ground rcnts,if uny. Borrower , . .
<br /> shnll pny these obligations in the mam�er provided in pamsroph 2,cx if not pnid in�hnt munner,Borrowcr shnll pny�hem on
<br /> , �� , time direclly to Ihe person owed payment. Borrower sholl promp�ly fumir.h lo Lender all notices of amounts to be paiJ under
<br /> ti, • this paragraph. If Borrower makes these payments directly.Bortower shall promptly fumish to l.ender receipts evidencing
<br /> the payments.
<br /> . 8orrower shall promplly dischorge ony Ifen which ha4 priority over�his Security In�trument unless Borrower:(u)agrees
<br /> in wrfling to the payment of the obligation secured by Ihe lien in a manner acceptable to Lender,(b)contesls in good faith the
<br /> , lien by,or defends against enforcement of the lien In.kgal proccedings which in the Lender�s opinion operete to prcvcnt the
<br /> •.,' enforcement �f the lien;ar(c)secures from�he holder of the lien un agreement sMisfactory lo Lender subordinnting the lien . �
<br /> �•��::..�. i to this Security Instrument. If Lender detertnines�hat any part of the Property is subject to a lien which may attuin prioriry
<br /> ��-;�;:,,�,' � over lhis Security lnstrument,Lender muy give Bortower a notice identifying t6e lien. Borrower shall satisfy the lien or lake
<br /> ' � •� one or more of the actions set forth above wilhin IQdays of the giving of notice.
<br /> S. HAZwrd or Prope�ly lnsumnce. Borrower shall keep the improvements•now existing or hereaf�er crected on�he
<br /> Property insured against losa by fire,hazards included within the�erm"extended covemge"and any ather haza�ds,including
<br /> floods or floading,far which Lender requires insurance. 'll�is insurance shall be muintained in the amounts and for Ihe
<br /> Form 30lY 9/90 (/wRe 2��J6 pagrsl
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