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<br /> TOG&THHR WITH all thP improvements now or lierexfcer erected cn�th�pro(�rty,and all easemrnty, apputte�uukes, atxl � ri;�'.;`.�f
<br /> fixtures now or heteafter a part of the prc�perty. All replNCCn►euts and Hdditiony shttU alnu Fx: coveicd hy thiti Securlry i , : __
<br /> Instrument. All of the foregoing Is refened to in this Security Instrument ay d�e "Property." . - ;;.�{ --
<br /> BORROWER COVENANTS that Bonower is Iswfully seised�>f the estate hereby a�nveyrd awd has the right to grant wu� • Qa •
<br /> � convey t he P r o p e r t y a n d t h a t t h e P r o p e rt y i s u n e n c u m b er e d, exce pt for encumbn►nces of record. Borrowrr warran�+ aud will ' =i��:'=.:
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<br /> _ � defend generally the dde to the Propeny against all clauns and dewxnds,subject to any encumbrances of record. ,.,��. ,,.
<br /> THIS SECURITY INSTRUMSNT cambines uniform covenunts for nadonal us�and non-unlform cavenauts with llmitCcrii'' .,�.�:�
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<br /> ; v.�triadons by jurisdietion ro constitute a uniform securiry iastnimsnt eovering real property. .� c, __
<br /> UNIPORM COVENANTS. Borrower and Lender covenant und agree a.s follows: � �`�`''''"
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<br /> 1. Payment of PrinclPal and Interest; Prepayment und Late Charges. Bonower shall prampdy pay when due th �.:,_
<br /> principal of aud interest on the debt evidenced by the Note and any prepaymeut and late char�es due under the Note. ��_�`
<br /> 2, F�ncls for Ta�ces and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to� -_ _
<br /> � Lender on the clay monthly payments are due under tLe Note,undl the Note i�paid in full, a sum("Funds")for: (a)yearly taxes __ _
<br /> ' and assessments which may attain priority over this S�curity Instniment as a lien on the Property; (b)Yearly leasehold payments F`
<br /> � or ground rents on the Property,if any; (c)yearly harard or property insurance premiums; (d)yearly flood insurance premiums.
<br /> if any; (e) yearly mortgage insurance premiums, if any; and (�any snms payable by Borrower to Lender, ln accordance with
<br /> � the provisions of paragraph 8,in lieu of the paymentof mortgage insurance premiums.These itenis are called "Bscrow Items."
<br /> Lender may, at any dme, collect and hold Fuads in an amount not to exceed the maximum amount a lender for a feclerally
<br /> related mongage loan may require for Bonower's escrow account under the federal Real Estate Setdement Procedures Act of
<br /> ' 1974 as awended from time to time, 12 U.S.C,Secaon 2601 et seq. ("RSSPA"), unless another law that applies to the Funds _
<br /> 3 sets a lesser �uouut. If so, Lender may, at any time, collect and hold Funds in an amount not m exceed the lesser amouut. _ _
<br /> . � Lender may estimate the amount of Funds due on t6e basis of current data and reasonable estimates of expenditures of funue
<br /> Bscrow Items or otherwise in accordance with applic:able]aw.
<br /> The Funds shall be held iu an insdtutioa whose deposits are insured by a federal agency, instrumentality, or endty
<br /> ' (inclading I.ender,if Lender is such an institution) or in any Pederal Home Loan Bank.I.ender shall apply the Punds to paY the
<br /> Bscrow Items. Lender may not charge Borrower for holding and applying the Funds,annually analYzinS the escrow account, or
<br /> verifying the�scrow Items,unless Lender pays Bonawer interest on the Funds and applicable law permits Lender to make such
<br /> � _ a charge. However, Lender may require Borrower to pay a one-dme chxrge for an independent real estate tax reportin8 service
<br /> � used by I.ender in connection with this loaa, unless applicable law provides otherwise. Unless an agreement is made or
<br /> applicable law requires interest to be p�Id,Lender shall not be required to pay Borrower auy Interest or earnings on the Funds.
<br /> * Bonower and Lender may agree in writing, however, that interest shall be paid on the Funds. Lender shall �ive to Boaower,
<br /> - �� ' withoui chargc, 8R aAtlik2��CtAtlllilAg Of ttls Funcls,�hewing credits and debic� to che Funds and the purpose for which each
<br /> debit to the Funds was made.The Funds are pledged as addidonal security for all sums secured by this Security Insavwent. _
<br /> � If the Funds held by Lender exceed the amount�pemutted to be held by applicable law,Lxnder shall account to Bonower
<br /> for the excess Funds in accordance with the requirements nf applicable law. If the amount of the Funds held by Lender at any , �•_;
<br /> '` dme is not sufficient to pay the Escrow Iccuw wLeu duc. Lender may�so nodfy Borrnwer in wriune,and,in such ease Borrower .r �t"
<br /> � shall pay to Lender the aznouat necessary to make up the deficiency. Bonower shall make up the deficiency in no raore than 'E^:
<br /> � twelve monthly paynients,at Lender's sole discretian. ` f�
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<br /> tLlpon payment in full of:sll sums secured by this Securfty Iastnwient, Lender shall prompdy refund to Borrower any �=
<br /> .j Funds held by Lender. If,under paragraph 21,Lender sball acquire or sell the Property, Lender,prior to the acquisidon or sale
<br /> � of the property, sUal!apply any Funds held by l.ender at the time of acquisition or sule as a credit egainst the sums secured by �, _
<br /> , + tlils Security Iustrument. ��v
<br /> �� � 3.Appltcatton of PAyments.Unless applicable law provides otherwlse,all payments received by Lender under parugraphs ��-.
<br /> 1 and 2 shall be applied: first, to any prepayment char�es due under the Note; second, to amounts payable under paragraph 2: �
<br /> + third, to iater�est due; fourth.to principal due;and last, to any late charges due under the Note. ___
<br /> � 4.Charges; Llens. Bonower shall pay all taxes, assessments, charges, fines and impositions atuibutable to the Praperty _ _—_
<br /> ; which may attaln priority over this Security Instrnment, and leasehold payments or ground reats. if any. Bormwer shall pay �=�_��
<br /> Y these obligadons in the manner provided in p:uagrap6 2,or if not paid in that manner,Boaower shall pay them on time direcdy �qc;:��
<br /> ,� to the person owed payment.Bonower shall promptly furnish to Lender all nodces of azuount�to be paid under this paraBraph• 3�;••3;•;--
<br /> � � If Bonower makes these payments directly, Borrower shaJl promptly furnish to L,ender receipts evidencing the payments. ,�,ia�e�
<br /> Borrower shall promptly discharge any lien wLich has priority over this Security Insaument unless Bonower: (a)agrees jn a-;�;--..
<br /> : wripng ro the payment of the obligation secured by�he lieu ia a manner acceptable to Lender; (b)contests in good faith the lien "'�.;,�;�,{r`,�,�..��,:h„.---
<br /> by, or. defends a�ainst enforc:ement of the lien in,legal proceedings which in the Lender's opinion operate to prevent the . .� �
<br /> enforcement of the lien;or (c) secnres from tl�e holder of the lien an agreement satisfactory to Lender subordinaung the lien to . .
<br /> � this Security Instn�ment. If L.ender determines that any part of the Property is subject to a lien wWch may attain priority over
<br /> thi�Security lnstrument, Li:nder may give Borrower a notice identifying the lien. Bo�rower shall satisfy the lien or take one or
<br /> � more of the actions set forth above within 10 days of the giving of notice. � .
<br /> Form 3028 9/90
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