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<br /> ^ T(?GETHEEt WI'TH ull thc impruvcmcnts now or hereaRer erccted on the pruperty, i�nd nll cuscmcntti, uppurtcnanccs,and �
<br />"`'� fixtures now or hercuRer a part of the prapet�ty. All repincements und udditions tihiill ulsu be covered hy this Security
<br /> � Intitrumcnt. All of thc foregoing is rcfcrrcd tc>in this Sccurity Instrumcnt us thc"f'r��pcny."
<br />==°e� BORCtOW�R COV6NANT5 that Dorrowcr iti Inwf'ully scised of thc cstutc licrchy cunvcycd nnd hus thc right to grant�tnd
<br /> convcy the Properry and thut the Property is uacncumbered, except for encurobrances uf rec��rd. l3urruwer wii-r,uits and will -
<br /> --�-' dcfcnd gcncrally thc titic to thc Propcny agninst all rini���s und demunJs, subjcct to uny cnrumb�anccs af rccord. �
<br />=-� THIS SECURITY INSTRUMENT combincs wilform covcnants for nutionid usc iind non-unifarm a�vcnants with limited
<br /> _ vnriations by jurisdiction to constitutc u uniform sccurit,y instrumcnt cmcring rcal property.
<br /> _w,,, UNiFORM COVENAN'CS.Borrowcr und Lcndcr covenant und agrcc ns foUows:
<br /> ..�, � 1. Payment of Principal and Intfrest; PreNaynunt and I.i�te Cl�nrge�. Burrnwcr shull promptly puy whcn duc thc
<br /> principal of und interest on the dcbt evidenccd by the Note nnd any prcpayment and latc char�cs duc under tl�c Note.
<br /> 2. �nds Por Taxes and Insurance. Subject to applicable luw or w u written wuiver by Lender, Bon•ower shall pay to
<br /> �''� Lender on the day mo�thly payenents are duc under the Note,until thc Notc is paid in full,u sum("Funds")for:(a) yearly taxes
<br />_�,�.
<br />`."';:�� nnd assessments which may attaln priority over this Sccurity Instrument us a lien on Qie Property; (b) yearly Icusehold pAyments
<br />�`='-g� or ground rcnts on the Property, if any;(c)yeurly ha•rard or property insurancs premiums;(d)yeurly flood insurance premiums, _
<br />:°'��
<br /> �f any; (e)ycarly mortgn�e insurance premiums, if any;und(� any sums payuble by Borro�ver ta L.cnder, in uccordance with
<br />=� the provisions of paru�ruph 8, in lieu of the payment of mortgage insurance prcmiums. These items are called "Escrow Items."
<br />�'°� Lender may, at any time, callect and hold Funds in an amount not ro exceed the mnximum Tmoirot n Iender for �i federully
<br />-•° related mortgage loan may requim for Borrower's escrow account under the federul Real Estate SetNement Procedures Act of
<br /> "��' 1974 as amended from time to time, 12 U.S.C.Section 2601 et seg. ("RESPA"), unless another law thAt applies to the Funds
<br />:._•J�
<br /> Fr� sets a lester umount. If so, Lender may, at any time, collect and htild Funds in an umount not ro exceed the lesser �►mount. -
<br /> Lender may estimate the amount of Funds due on thc basis af currcnt duta and reasonabic�.stimatcs of expenditures��'future
<br /> r.,-�„ Escrow Items or othenvise in accordance with applicable law.
<br /> The Funds shttl! be held in an institution whose deposits are insured by a federal agency, instrumentnlity, or entity
<br /> (including Lender, if Lt:nder is such an institution) or in any Federal Home Loun Bank. L.endcr shall apply the Funds to pay the
<br /> Escrow Items. Lender may not charge Bonower fur holding und upplying the Funds,unnually unalyzing the escrow accaunt,or
<br /> verifying the Escrow Items,unless Lender pays Borrower interest on the Funds and applicabte law permits Lender to make such
<br /> a charge. However, Len�icr may require Sorrower to pay u one-time charge fot un independent real estate tax reportin� service
<br />-`-°, ��cPd by I.�nder in cannection with this loan. uniess npplicahle law providcs othenvise. Unless an aercement is made or
<br /> upplicttble law requires intcrest to be paid,Lendcr shall not be required to pav Bonower uny interest or earr►ings on thc Funds.
<br /> Hono�ver and Lender may agree in writing, however, that interest shatl be paid on the Funds. Lcnder shull give to Borrower,
<br />--- without charge, an annuai uccounting of the Funds,showing credits and debits to tlie Funds and the purpuse for whic�i each
<br /> deb{t ta the Funds was m�de,The Funds are pledged as additional sccurity for ull sums secured by this Security Instrument.
<br /> If the Funds held by Lender cxceed the amounts permitted to bc held by npplicable law, [.endcr shall account to Horrower
<br /> for the excess Punds in accordance with the requir�ments of applicable taw. lf the amount of the Funds held by i.ender ut any
<br /> time is not sufficient to pay the Escrow Items when due.Lender mny so notify Borrower in wdting,and, in such case Barrower
<br /> sh�ll pay to Lender th�umount necessary to make up the de�ciency. Borrower shatl make up the deficiency in no mare thun
<br /> ' twelvc monthly payments,at Lender's solc discretion.
<br /> Upon �ayment in full of all sums secured by this Security Instrument, I.ender shall promptly reFund to Borrower any
<br /> Funds held by Li:nder. If, under paragraph 21, Lender shall acquire or sell the Property,Lender.prior to the ucquisition or sale
<br /> _ of d�e Property, shall apply eny Funds held by l.ender at the time of acquisition or snle as a credit against the sums secured by
<br /> this Security Instniment.
<br /> 3. Applicat[on of Pevmcnts.Unless upplicable law provides otherwise, all payments rcceived by Lender under paragraphs
<br /> 1 and 2 shall be applied: first, to nny prepayment charges due under the Note;second, to amounts payable under pv�agraph 2;
<br /> third,to interest due:fourth,to principal due;a�td last, to any late charges due under the Note.
<br /> 4. Charges; L[ens. Borrowcr sh�ll pay nll taxes, assessments, chsirges, fincs and impositions attributable to thc Property -
<br /> which n��ay attain priority over this Security Instrument, und leASehold puyments or graund renYs, if au►y. Rorrower shall pay
<br /> these obligntians in thc munner provided in para�raph 2.or if not paid in that manner, Barrowcr shall pay them on time directly
<br /> to the person owcd payment.8orrower shall promptly furnish to Lender all notices of amounts to be pald under this paragraph.
<br /> If Eorrower makes thesc payments directly,Borrower shall promptly furnish to Lender receipts evidencing the payments.
<br /> - Borrower shall promptly discharge uny licn which has priority over this Security Ynstrument unless Bon•ower: (a)agrees in
<br /> i writing to the payment of thc obligation secured by the lien in�manner acceptable to Lender;(b)contests in good faith the lien
<br /> i by, or defends a�ainst enforcement of the lien in, legal proreedings which in the Lender's opinion operate to prevent the
<br />--- enforcement of the lien;or(c) secures from the holder of the lien an agreement satisfactary to Lender subordinating the lien to
<br /> ' this Security InstrumPnt. If Lendcr detcrmines thut any part of thc Prapeny is subjcct to a licn which may attain priority over
<br />�'ti�� , this Security Instrument, Lend�r may give Borrower a notice identifyin�the lien. Borrowcr shaU satisfy the lien or take one or _
<br />---- morc of thc actions set forth above within t0 duys of the givins of notice.
<br />�w� �
<br />--_= Form 3028 9/90
<br /> -=„�,� -� Papo 2 of 8
<br /> n.�-xlu� -
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<br /> = :�,�..�._.T-------_
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