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<br /> TOCiE'('ElER Wl7'H all the improvements now a hcreafter erocted on the property,nnd ull easements,appurtenancea.
<br /> and tixtures now or heteafler A part of thc propcny. All replacements and Additlons shall also bc covered by this Secutity
<br /> N�n�ment. All of the forcgoing is referred to in this 3ecurity Insaument as the"Property."
<br /> - BORROWSR COVENANTS that Bormwer is lewfully selsed of the estutc hercby conveyed end has thc rfght to grunt
<br /> and convey the Property and that the Property ia unencumbered.except for encumbrances of record. Horrower warr�nts and
<br /> will dePend generolly the title to the Property agninat all clalms and demunds,subject to any encumbrances af record. r
<br /> - TH1S SECUFtITY INSTRUMENT combinea unifom� covennnts for rtatianal use and non•unlfam cavenrnta with
<br /> - ."'''� — limited varlations by ju�isdiction to constitute a uniform xecudty insirument covering mal praperty. - �-
<br /> ;_' UNIFORM COVENAIV'fS. Borrower end I,.ender covenant and agree as folbws:
<br /> l. Fi�yment ot Principal and Intereat;Pre{wyment and Late Ch�ea Borcower shall promptly puy when due Ihe
<br /> prinaipal of and lnterest on thc debt evidenced by 1he Note and eny prepayment and late charges due under the Note.
<br /> 2. Fuuda tor 7bxes and IosurAnce. Subject to appiicable law or to a wriaen wufver by l..ender,Borrower shal!pay to
<br /> -- - -- - --- Lender an the day monthly payments nrc duc under the Note,until the Note is pald i�full,a sum("Funds")for. (A)yeauly
<br /> taues and assessmenta which may attain prlodty over this Secu�iry Inatrument as e lien on the Property;(b)yearly leasehold
<br /> _-_ poyments or ground rents on the Property. if any; (c) yearly hazard or property insurancc premiums: ld) yearly flood
<br />_ insurence premiums, lf any; (e) yearly mortgage insurance premiums,if eny; and(�any sums payable by Borrower to
<br /> - - - - -� Lcndcr,in accordnnce wtth the provisions of puragraph 8,in lieu of the payment of mortgage inaurnnca premiums. These _
<br /> "' items iue called"Escrow Itema." Lender may,s►t any time,coliect and hold Punds in an amount not to exceed the maximum
<br /> --_--�_�� -------, emount a lender for a federally related mortgege loan may mquire for BorrowerSs escrow account under the federal Real
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<br /> ___---�— Estate Settlement Procedures Act of 1974 as amended from time ro time,l2 U.S.C. $2601 er seq.('RESPA"),unless another
<br /> � I I •- � • law that applies to the Funds seta a lasser amount. If so,Lender may.at any time,collect and hold Fbnds in an amount not[o `
<br /> - exceed the lesser amount. Lender may estimate the amaunt of Funds due on tha basis of current date and reasonwble
<br /> ���� , I,�;{,�,.;. asdmates of expenditures of future Escrow ltems or otherwise in accordance with app8cable law.
<br /> The Funds shall be held in an institution whase depoaits are insured by a federal agency,instrumentality.or entity �'-.
<br /> , ,! ,, (including Lender,if I.ender is sucb an institution)or in any Federal Home Loan Bank. l.ender shall apply the F�nds to pay
<br />`;s �-��. 1he Escrow Items. Lender mny not charge Borrower for holding and applying the Funds,annunlly analyzing the escrow �_
<br /> «'r'�4 account,or veri(ying the Escrow Items, unless Lender pnys Borrower interest on the Funds und applicable law permits
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<br /> - Lender w muke such a charge. However. Lender may requl�e Borrawer to pay a one-time charge for an independent real
<br />_-:�p}_: estate tax reporting service used by Lender in connection with this loan,unleas applicable law provides otherwise. Unless an
<br /> -• 'R:�•���'=�°-��'•�•�'� agreement ia made or applicable law requires interesc w bc paid.Lender shall not be required to pay Borrower any interest or
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<br /> r •.,:�^,;,:�.,,� :.�}•-, eamings on Ihe F�nds. Borrower end C.ender muy agrec in w�lting,however,that interest shall be paid an the Funds. Lender
<br /> - _ shall give to Borrower,without charge,an�nnual accounting of the Funds,showing credits a�d debits to the 6Lnds and thc
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<br /> °= purpasc far which each debii to the!'�nds was made. T!x Hinds nrP pM�lgP�a�additione)security for all aums secured b_y
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<br /> � •. ,` this 3ecudty Inattument. _
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<br /> . . if the Funds 6eld by Lender exceed the amounts permitted to be held by applicable law, Lender shall account ta
<br />:����• Borrower for the excess Funds in accordance with the�equirements of applicable law. If�he amount of the Flmds held by
<br />,'• �= � `�� �r;�,,„ �-. Lender at any time is not sufficient to puy the Escrow Items when due,Lender may so notify Bo�rower in wdting,and,in --
<br /> ° ,• �� such case Borrower shall pay to Lender the umount necessary to muke up the deficienc,y. Bortower shall 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 Securiry Instrument,Lender shall promptly refund to Borrower eny ___
<br /> � • '` ` ' FLnds held by Lender. If,under paragrnph 21,Lender shall acquire or sell the Property,Lender,prior to the acquisition or
<br /> 1�':S " sele of the Pruperty, shall npply uny Funds held by I.ender at the dme of acqufsition or sale as a credit against the sums �"' �
<br /> �7 " �� " secuced by this Security Instrument.
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<br /> ��o � � ' 3. Appltcatlon of Payments. Unless applic9ble luw provides otherwisc. all payments received by L,ender under
<br /> ��ic' " � paragraphs I and 2 shnll be applied:first,to any prepayment charges due under the Note;second,to amounts puyable undet
<br /> ` " peragraph 2;third,to interest due;fourth,to principal due;und last,to any late charges due under the Note. �
<br /> �`��'' ' ° , � " 4. Chpr�es; Llens. Borrower shalf pay nll �nxes, assessments, charges, fines and impositions attributable to the _
<br /> �� Property which muy attain priority over�his 5ecurity Instrument,and leasehold payments or ground rents,if Any. Borrower �
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<br /> �: �,, o ,� ahall pay these obligations in the msmner provided in parngraph 2,or if not paid in that mnnner,Borrower shall pay them on __^
<br /> �,: �.: . �` time directly to the person owed pnyment. Borrower shall promptly furnish to Lender All notices of amounts to be peid under __
<br /> � `�'%'�. ,• this paragraph. If Borrower makes these payments dlrectly,Borrower shall prompUy fum ish to Lendcr receipts evidencing �'°
<br /> ;�n „ ' ' the payments. — -
<br /> " � Borrower shall promptly discharge uny lien which hus priority over this Security Instrument unless Borrower:(a)agrees
<br /> ,� _ _, in writing to the payment of the obligation sewred by ihe lien in o manner ncceptable to Lender.(b)contests in good faith the
<br /> � ,u, �:p lien by,or defends ugainst enforcement of the lien in,le�al proc:eedings which in the Lender's opinion operate to prevent the
<br /> " � ,, �. " enforcement of the lien;or(c)secures from the holder of Ihe lien un ugreement satisfactory to Lender subordinating the lien ���
<br /> �2-� " ro this Securiry Inswment. If Lender determines that any purt of the Property is subject to a lien which may Attain priority !�
<br /> �:;,. • �,ti;,. �� over this Security Instrument,Lender may give Borrower n notice identifying the lien, Borrower shall satisfy the lien or leke
<br /> , one or more of the actiuns set forth above within 10 duys of the giving of notice.
<br /> . . � . 5. Haza�d or Property insurance. Borrower shall kcep Ihe impravcments now existing or hereaiter erccred on the --•-
<br /> � . ' Property insured against loss by�re,hazurds included within�he term"extended coverage"und any other hnzarcls,including
<br /> ° �.. • floods or flooding. for which Lender requires insuronce. 'I'his insurnnce shall be maintained in the amounts and for the �l-`
<br /> �� Mbrm 302tl 9/90 I puRt 2 oj6 pagesl �.'
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