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<br /> TOCiETHER WiTH all the improvemcnta now or hereafter erccted on the property.und all eacements,appurtenances, _
<br /> ----- and Rxture�now an c�reafter a part of the pmpetty. All r�eplacemcnts and additians shnll alco be coverod by this Security —
<br /> � Inrwment. All of the foregoing is referred to in this Secur�ty Inswment t�the"Properry."
<br /> �; ' BORROWER COVENANTS thet Borrower is lawfully seiced of the estate hereby conveyed and has the r�ght to gn►nt
<br /> � °'"'" =�-i�;':-,;�.•� and convey the Property nnd that the Properry is unencum6ercd,eacapt for encumbrances of re�cord. Bortower warrants and
<br /> will defend generolly the titk to the Property against all cla�ms and demands,eubject to any encumbrances af record.
<br /> THIS SECURITY INSTRUMENT combines uniform covenants ior national use ond non•uniform covenants with R
<br /> , limited varietiona by judadiction to constituto a uniform cecurity inswment cove�ing rewl propeAy.
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<br /> _ r�-��� UNIFORM COVENANTS. Barrower and l.ender covenunt and ugree us followa:
<br /> ' ,��'� l. Paymenl ot Princip�l and Interest;Prepayment And l.ate CbprQe�. Borrower shall pn�mptly puy when due the
<br /> +q>� prfncipal of,+nd intercs�on�he debt 4vidrnced by the Notc and any prepaymcnt and lute churges duc under thc Note.
<br /> ��W``—'� 2. �uads for'Itixes md Insuronce. Subjxt to applicable law or la o written waivet by l.endcr.Borrawcr shall puy to
<br /> �:� L.ender on tha day manihly payments ore due undcr thc Note.until�hc Nate is paid in full, a eurn("Funds"1 far:(a)yeuly
<br /> —_--- �.�.,�.,.�,._ taxes and assessmcnts which may altui�priarity aver this Secudiy Instrument as u lien an the Property:(b)ycarly lear,ahold
<br /> ---`�.�� p�ymenut or ground rcnts on �he Ptopeny, if any; (c) yearly hazard or propeny insurance premiuma; (d) yearly flood
<br /> �w � insurance promjums. if uny; (c)yeurly mongage inaurancc premiumx.if any; and (� pny wms payable by Borrower to
<br /> "•' L.ender,in accurdance with the provisionx of pumgrnph 8.in lieu of the payment af moRguge insurance premiums. These
<br />�•�?��'��a� � items arc called "Escrow Items." L.ender may,ut any time.collect und hold Funds in an amouM not to exceed the maximum
<br /> i�:: • ���,;tR,�,.��'" amount a lender for a federnlly related martgage lonn may requir�e for Borrower5� escrow account under the fedeml Reol
<br /> �`°'�' - EsUUe Settlement Procedures Act of 1974 as amended irom time to time,l2 U.S.C.�2601 et seq. ("RESPA"),unless another
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<br /> � }�.�{i�,��• law that applies to the Fundr sets a lesser Amount. If so,Lender may,at any time,collect and hold Wnds in an amount not to
<br /> y' • � exceed Ihe lesser emount. Lender may estimate the amount of Funds due on the basis of current Jau+ And reasonable —
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<br /> �;:�.J��:�,�:r�,,��.�; esdmates of expenditums of future Escrow items or otherwise in accordance wfth applicable law.
<br /> � � _ .: �c' The Funds shail be held in an insdtution whose deposits are insured by a federal agency.instrumentality. or entity
<br /> —.� ,. ,��,.y_�} (including Ixnder,if Lender is such an inatitution)or in a�y Federal Home Loun Bunk. l.ender shall apply the Funds to puy
<br /> the Escrow Items. l.ender may na charge Borcower for holding and epplying ihe Funds. annually unalyzing the escrow
<br /> ,� account,or verifying the Escrow Items, unless l.ender pays Borrower interest on the Funds und applicable law pertnits
<br /> "i : � +��_-, Lender�o make such a cherge. However, Lender may r+eyuire Borrower to pay a one-time charge for an independent real
<br /> -��.,,,A'�,,,;�,.,..'�.:•�, �" eslnte tax reporting service used by L.ender in connection with this lonn.unless applicable law provides otherwi�e. Unlrss an
<br /> -- . agreement is madc or applicuble luw requires interest to be pai�,Lender shall not be required to pay Borrower nny inter+est or
<br /> ' eamings on the FUnds. Borrower and Lendcr mny agree in writing.however,that interest shall be paid on the Funds. Lender
<br /> � ' shall give to Borrower,without churge.an annual accounting of the Funds,showing credits and debits to the Funds and the
<br /> ���;,,�,^�,,;,',» purpose for which each debit to 1he Funds was made. The Funds are pledged as eddiUonal securiry for nll sums secured by
<br /> °—__ =:�,L,-.,,�.�._,�.,._-�._ tNir Securily Inswment.
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<br /> -'�' ' If the i�nds held by Lender exceed the emounts permitted to be held by applicable lew,Lender shall uccount to
<br /> `=r.• " , Horrower for the excess Funds in accordance with the requirements of applicuble law. If the arnount of the Funds held by
<br /> '�`-' Lender at any time is not sufficient to pay the Escrow Items when due,Lender may so notify Bortower In writing,nnd. in
<br /> -P=r � ^� " ' such case Borrower shall pay to l.ender the amount necessary to mAke up the deficiency. Borrower shull make up the
<br /> °-�- ']�;: '�: deficiency in no more than twelve monthly payments,at Lender�s sole discretion.
<br /> �,�� � -:,�.._ . � :�' Upon payment in full of all sums secured by this Security Instrument,Lender shall promptly refund to Bortower uny —
<br /> =; •��. ' � Funds held by L.ender. If,under paragrnph 21,Lender shall ncquire or sell the Property,Lender, �xior�o the acquisition or
<br /> ,; • • sale of the Property, shall apply any Funds held by l.ender at the time of acquisition or sale as a credit ugainst the sums �
<br /> - • • secured by thia Security Inswment.
<br /> 3. Applieation oP Payments� Unless upplicable law provides atherwise,all puyments received by L.ender under -�-
<br />�" • � parngrnphs I nnd 2 shall be applied:first,to any prepuyment char�es due under the Note;second.to amounts payable under -
<br /> F'� � ' � paragraph 2;third,to interest due;fourth,to principal due;s�nd last,to uny IAte charges due under the Note.
<br /> Y,�� •� � 4. Chwrges; Liens. Borrower shull pay all �axes, assessments,chnrges,fines and impositions attributuble to the
<br /> -•�t �?` •• Pruperty which muy nttnin priority over this Securiry Instrument,and leasehold payments or ground rents,if any. Borrower v_
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<br /> • ''k shall pay these obligutions in the mnnner provided in parugraph 2,or if not paid in that manner,Borrower shall pay them on
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<br /> �. : time directly lo the person owed payment. Borrowcr shnll promptly furnish to Lender all notices of amounts to be paid under `
<br /> w`�� � '. �;...' ,,�. this patagraph. If Borrower makes Ihese payments directly,Borrower shull promptly furnish to Lender receipts evidencing �
<br /> _ -- • the payments.
<br /> ; ,,�- . ' Borrower shall prompdy discharge uny lien which has priority over this Security Instrument unless Borrower:(u)ugrees d .
<br /> ; ,; in writing to the payment of the obligution secured by the lien in a mnnner ucceptnble to Lender,(b)contests in gaad faith the --
<br /> -�.,, . V,�, . lien by,or defends uganst enforcement of the lien in,legal proceedings which in the Lender's opinion uperate to prevent the
<br /> � enforcement of the lien;or(c)secures from thc holder of the lien un ngreement satisfactory to Lender subordinating the lien .
<br /> � ���� ` • to this Security Instrument. If Lender determines that uny pnrt of the Property is subject to u lien which n�ay at[uin priority `-
<br /> ` �;� ' over this Security Inswment.Lender may give Borrower n notice identifying the I�en. Borrower shaU satisfy the lien or wke
<br /> � ��Ed.',,�'�as `�- one or more of the actions�et fonh above within 10 duys of the giving of notice. _
<br /> 5. Hazard or Property lnsu�ance. Borrowcr shs►If keep the improvements now eaisting or hereafter erccted on the
<br /> Propeny insured ugainst loss by fire,h:�zurds included wi�hin the tcrm "extrnded coverage"and any other hazards,including
<br /> �� ' • �, floods or flooding, for whkh Lender requires insurance. This insurance shull be maintained in�he amounts and for the �
<br /> �;,' Florml128 9/90 IpaRe2nJ0/keReal �,
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