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<br /> - _— TppETNER WITH�II the improvemenw aow or hercaRer erccted on the propeny,and all eacementa,appurtenvxx+. ond
<br /> flaturca now or here�Rer � put of the property• All replwcementn ond udditions shall �Iro be coverod by' thi� SecurftY
<br /> -_ Lutrument. All of the foregain�is nfemxl to in thia 3ecu�ity Inatrumcnt u�the"Property."
<br /> BORROWER COVENANTS that Borrawer is Iowfully ceised af the esuate hereby conveyed and haa the right to Qrant and
<br /> — convey the Properry and tlwt �he Property is unencumberod.except far eneumbrances of recard. liorrower wur�s aad will
<br /> defead�enerally the titlo ta the Property againsl all cloima w�d dertwndc.subject ta any encumbrwtces of ra;ord.
<br /> TH15 SECURITY INSTRUMENT combines uniform covenAnts for nAtional use and non•uniform oovenwnts with limited
<br /> � viriationa by Jurisdiction to constitute a uniform security instrument covering real property.
<br /> UNIFORM COVBNANTS.Borrower und Lender covenunt and eg�ee as followa:
<br /> 1. Poymeot uf Prit�ipAl and Interest; PrepoYment aad late 4hArges. Burrower sh�ll prumptlY p:►Y when duc the� -
<br /> principal of und interest on the debt evidenced by the Note and a�y prepayment und Iste charges due under the Note.
<br /> ---�-- 2. �unde tor Tazes ond Insurance. Subject t��applicable law or ta a wrltten wniver by Lender. Borrower shall pay to
<br /> Lcixler an the day monthiy payments are due under the Note,until the Note iR puid in full,u sum("Funds')for:(a)yearly taues
<br /> - - and a,4sessments which may attein prio�lty over this Security Instrument as a lien on the Prapeny;(b)yearly leacehold payments
<br /> ___� ___� or gmund nentR on the Prnperty,if any:(c►yearly hazard or property insursu�ce premiums;(d)yesrly fload insurance premjums.
<br /> � if any:(e)yau'�y mortgage inwrunce premiums. if uny;and (� any sums payabie by &►rruwer to I.ender, in uccordanc� with
<br /> the provisians of parugraph 8,In lieu of the payment of mortgage insurunce premiums.7'hese items are called'Escrow Items."
<br /> ------- ---— l.ender may,ut any tfine, collect and hold Funds in an amount not to exceed the maximum amount a lender for a federally
<br /> .�.,�,..�..,.�� related mortgage loun may require for Borrower's escraw account under the foderal Real Estate Settlement Procedures Act of
<br /> --a=�----- 1974 as a�nendcd from time to time, 12 U.S.C. Section 2601 et seq. ("RFSPA").unless another law that applies to the Funds
<br /> --------- sets a lesscr arnounl. If sn, Lender may, at any time, collect and hold Funds in un amaunt not to exceed the lesser arnount.
<br /> ------ -- - � - Lender may estin�ate the um�wm �f Fund�due on the basis of current date and reasoneble estimates of expendiWres of future
<br /> y��rr�6.�.,..rr�::�r.:y Escrow Items ar otherwise in eccordance with applicnble luw.
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<br /> -= + The Funds shall be held in un institution whose deposits are insured by a federal agency, instrumeMality, or entity
<br /> � � r -�" -�� (including I.cnder, if l.ender is such an institution)or in nny Pederal Homc Loan Bank.Lender shnll apply the Funds to pay the
<br /> ��`��'q�"� Escrow Items. Lender may not charge Borrower for holding and applying the Funds.annually analyzing the escrow account,or
<br /> -�'°``�''�`Y'��� verifying thc Eu;row Irems, unless Lender pays Borrower interest on the Funds and applicable law permits L.ender ro moke wch
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<br />-:=:�=;�'�j.t� a chargc. Howcver, I.�:nder may require Bonowcr to pay a one-time charge for an independent real estate tax reporting service
<br /> '"' �'��r;..i.,��=,:�#� used by l.ender in connection with this laan, unless npplicabie law provides athernise. Unless an agreement is made or
<br /> e i��`t.` ' � applicuble luw requires inreres�to be paid, I.ender shall not be required ta pay Borrowcr any interesl or eamings on thc Funds.
<br /> � � ,�'" Borrower and [.ender may agrec in writing, however, that interest shall be paid on the Funds.Lender shaq give to Borcower.
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<br /> ��� ' h-,�• � without charge,an annuul accounling of the Funds, showing credits und debits to the Funds und the purpose for which exh
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<br /> _ ' _- _�,• � deb;s tn�he Funds wns made.The Funds are pledged a.g additional security for all sums sacured by this Securiry lnstrument.
<br /> '�` � If the Funds held by I,ender exceed the umounts permitted to be held by upplicable law, I.ender shall acrnunt to Borrower
<br /> � for the excess Funds in accordonce with the requirements of applicuble law. If the amoum of the Funds held by Lender at any
<br /> — y'��}.A-.L{n 1��� time is not sufficient to pay ttie Escrow Items when due,Lender may so notify Borrower in writing,and.in such case Borrower
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<br /> shnll pay to L.ender the sunount neces�ary to make up�he defioiency. Borrower shell make up the deficieney in no more
<br /> -:=� '� �` �' � twelve monthly payments,at Lendcr's sole discretion.
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<br /> 3' b���K. Upon puyment in full of all sums secured by this Se�vrity Instrument, L.endcr shall promptly refund to Borrower any
<br />- �'•� " " � �" Funds held by I.ender.If,under paragraph 21, Lender tihall ucyuire or sell the Propeny, l.ender, prior to the ncquisition or sale
<br />- ° `' -'"' of the Propeny,shnll upply any Funds held by Lender u� the timc oP Acquisition or sale as a credit ageinst the sums secured by
<br />- �a-:�n•w.°�4� this Security Instrument.
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<br /> - �• :..�..,.. : 3.Applicnlion ot Poyments.Unless applicable luw provides otherwi�, all payments received by I.ender under paragraphs
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<br /> � �• I and 2 shWl be applial: first,to uny prepaymem rhurges due under the Nute; second,to umounts payable under paragraph 2:
<br /> �� ,���� ' � third,to in�erest duc;fourth,to prinripal due;and lust,to uny lutc chargcs due under the Note.
<br /> ... 4.Charges; [.kns.BiiROwcr shall puy all taxes,assessments, churges, fines and imp�nitions uttributAble to the Property
<br /> — ,•.'��°,� � `�s which may attuin prinrity ��ver this Securiry Instrument, s►nd Icasehold paymeMs or ground rent:�. if su�y. Borrower shall pay
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<br /> these obligoiions in thc nwnner provided in pur�grsiph 2,or iinot p�iJ in that manner,Borrowcr shull pay them on titne directly
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<br /> ,� .,� to the penon owed payment.Borcawer tihall promptly furnish to Lender ull nuticcs of umounts to be paid undcr this pamgraph.
<br /> � � � ' � If Borrower makes these payments direcUy,&mower+hull promptly fumi+h to Lender rcccipts evidencing the payments.
<br /> -- --,��r'!'�` .�..x:•��. BoROwer shull pramptly discharge uny lien which h�s priority over thiti Security Intitrument unle.s Borrower: (a)agrces in
<br /> - ��`��:��� •'�• ° writing to�he p•ryment of the abli�ution secured by the lien in a manncr ucreptublc to Lcrnicr;Ib)wntcsts in goal fuith the lien
<br /> — ~ ` �►��:-. . � by, or defcnds ugAinst enforcemcnt of thc licn in, legal pr�xceding� whirh in �hc I.cnJcr's upiniun op�:rnle to prcvent the
<br /> .��,., � enforcement of thc lien: or (c1 secure+from thc holdcr ot'thc licn an ugreemcnl .ra�i.fuctury to Lrndcr sutx�rdinating the lien to
<br /> '� � .. this Securiiy lnstrument. If Lendcr determinc��ha� uny part ol'thc Property i� ,uhjr�t tu•r licn whirh may uuain priority over
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<br /> - o � thiti Security In.u�ument, l.ciuler muy give Borro��•�r u notire i�lrntitying thc lirn. Bom�wer shull +ati,fy the lien or tuke one or
<br /> =y�. .`�'&:.:n_ .. ; nwre of the aclions set 1'onh above within IU Jay+ul'the giving ul n��ticr.
<br />.i�� � Fam 3026 9/90
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