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<br /> TOCi&THER W1TH all thc improvcmenGS now on c�rcaftcr crccted on lhc property, and all casc:men�i,a{�purtenunces,und �;� i I' _. �
<br /> fixtures now on c�rcaftcr a part of thc property.All replacemenu and addiuons shull also bc covcred by this Sccuriry Insvumcnt. �x� I „ ;�;�i�`
<br /> AU of thc foregoing is refencd ta in Ihis Sccurity Instrumcnt aw thc"Property." �, �`�`<�
<br /> AORROWER COVENANTS that Boaower is lawfully saised of the estate hercby canveyed and has the right to grant and C :-
<br /> convcy tf�e Property and thnl lhc Property is unencumbcred, cxcept for encttmhrances o!rccord. Borrower warran�s und will p =
<br /> defend generally the title to the Property against ell clalms and demands,subject to any encumbrances o[record. � � -
<br /> THIS SECURITY INSTRUMEIv'T combines uniform covenants for nulional use and non-unilorm covenants with limited � :
<br /> variations by jurisdiction to constitute a uniform security insuument covering real property. (x
<br /> UNIFORM COVENAIV'f5.Bonowcr and I.ender covcnant and agrec as follows: -_
<br /> 1.Payment of Principal and Intereat;Prepayment and Late Chargea. Borrowcr shall promptly pay whcn duc �hc -
<br /> principal of and interest on the debt cvidenced by the Note and any prepayment and late charges due under the Note. -
<br /> 2.Funds tor Taxes and Inaurance. Subject to applicable law or to a written waiver by Lcnder, Borrower shall pay to
<br /> Lcnder on thc day monthly paymcnts are duc undcr the Note,undl thc Nate is paid in full,a sum("Funds")for:(a) ycarly taxes
<br /> and assessments which may attain priority over this Security Inswmcnt as a Gen on ihc Property; (b)ycarly lcaschold paymcnts
<br /> or ground rents on the Praperty,if any;(c)yearly hazard or propeay insurance premiums;(d)yearly flood insurancc premiums,if _
<br /> any; (e) yearly mortgage insnrance premiums,if any; and (�any sums payable by Borrower to Lender,in accordance with the
<br /> provisions af paragraph 8, in Gcu of the paymcnt of mortgagc insurance premiums. Thcse items arc called "Escrow Items." �
<br /> Lendcr may,at any ame,collect and hold Funds in an amcunt not to cxcced Ihe maximum amount a Icndcr for a federally related . ;,-
<br /> mortgage loan may require!or Borrower's escrow account under the federal Real Estate Seulement Proceclures Act of 197A as � .�
<br /> amended from timc to cime,12 U.S.C. Scction 2601 et seq. ("RESPA"),unlcss another law that appGes to the Funds scts a lesser I
<br /> amount. If so, Lender may,at any dme, collect end hold Funds in an amount not to cxceed the lesser amounG Lender may � —
<br /> estimate the amount oF Funds due on the basis of current data and reasona b le esdmates of expenditures of future Escrow Items or
<br /> , � otherwise in accordance with applicable law.
<br /> r ; The Funds shall be held in an instituuon whose deposits nre insured by a fcderal agency,insbrumentality,or entity(including �.
<br /> Lender, if Lender is such an insuwdan) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow �.�=—
<br /> Items.L.ender may nat cliarge Borrower for holding and applying the Funds,annually analyxing the escrow account,or verifying
<br /> the Escrow Items,unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. t;�_�
<br /> However,Lender may requue Borrower to pay a one-time ch,uge for an indcpendent real cstate tau reporting scrvicc used by -
<br /> Lendcr in connecuon with ihis ioan, unless applicabIc;luw piuvid� oiharwis�. L'n.�s an agcccmens is tnade or aFplira�,te taw _-. —_,_ , '
<br /> rcquues interest to be paid,Lender shall not be required to pay Borrowcr any interest or eamings on the Funds. Bonower and , '� `
<br /> I..ender may agree in writin�,howevcr,that interest shall be paid on the Funds.Lcnder shall give to Borrower,without chargc,an , , -
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<br /> annual acconnting af the Funds,showing credits and debits to the Fi�ndc and ihe purjx�se for which each debit to the Funds was .L?�,;, +
<br /> made.The Funds are plcdged as addidonal security for aU sums secured by this Security InstrumenG '�y�'' �
<br /> N.•.
<br /> If the Funds held by Lender exceed the amounts permittecl to bc held by epplicable law,Lender shall account W Bonower for ; �,.;.
<br /> the excess Funds in accordance with the requiremenu of appGcablc law.If the amount of the Funds hcld by I.ender at any time is �"�'•
<br /> . not sufficient to pay the Escrow Items when due,Lcnder may so notify Borrower in wridng,and,in such case Bonower shaU pay ' '�
<br /> to L.ender the amount necessary to make up the deficiency. Bonower shall make up the de6ciency in no more than twelve �'�'
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<br /> • , monthly puyments,at Lender's sole discretion. ;�,;, _
<br /> , Upon payment in full of all sums sccurcd by this Securiry Instrumcnt,Lendcr shall prompdy refund to Bonowcr any Funds �; :. .
<br /> hcld by Lender.If, undes paragraph 21,L.ender shall acquue or sell the Property,I.ender,prior to the acquisiuon or sale o(the "`�':�`:�-=_
<br /> y Property,shall apply any Funds held by Lender at the ti.me of acquisition or sale as a credit against the sums sccured by this '•�"--
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<br /> �� Security Instrumen� �
<br /> ° 3.Application of Payments. Unlcss applicable law providcs othcrwisc,all paymcnts receivcd by Lcndcr under paragrapt�s ��°°''�
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<br /> 1 and 2 shall bc appGcd: fust,to any prepayment charges due under the Note;second, to amounts payablc under paragraph 2; r. �., . -
<br /> �Q third,to interest due;fourth,tn principal duc;and last,to any lace charges due under d�c Notc. "���:�++��-
<br /> � 4.Charges;L iens. Borrower s h a l l pay a l l t a xes,assess m e n t s. c h a r g e s, c�n e s an d i m p o s i u o n s a u r i b u t a b l e t o t h e Pro p en y ='`'�� -�_
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<br /> � j which may atiain prioriry over this 5er,urity Instr�ment,and leasehold paymcnts or ground rents,if any.Borrower shall pay these .,-°=1;;,..��:-
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<br /> ' obligations in the manner provided in paragraph 2,or if not paid in that manncr,Borrowcr shall pay thcm on amc direcdy to tt►e ••=���••4,�,, �
<br /> person owed payment. Borrowcr shall promptly furnish to Lcnder aU nouces of amouncs to be paid undcr this paragraph. It i •��'`'.�j�,
<br /> Borrower makes these payments d'uccdy,Borrower shall promptly furnish to Lc:nder receipts evidencing the payments. ` - •
<br /> Borrowcr shall prompdy discharge any lien which has priority over this Sccurity Instrument unless Borrowcr: (a)a�rces in
<br /> � ' writing to the payment of the obligation secured by ihe lien in a manner acceptable to Lender,(b)contests in good faith the lien
<br />= by, or defends against cnforcement of thc lien in, Icgal proccedings which in the L.endcr's opinion operatc to prcvcnt thc
<br /> ' cnforcement of the licn; or(c) sccures from thc holder of the lien an agreement satisfactory to[�cnder subordinating the lien to
<br /> � this Sccuriry Inswmcn[. If Lcnder dctcmiincs�hat any pan of thc Property is subject to a licn which may attain priority ovcr this ,
<br /> Sccurity Instrumcnt,Lcndcr may givc Bonowcr a noticc idcntifying thc licn. Borcowcr shull satisfy thc licn or takc onc or morc .
<br /> ' of thc acuons set forth abovc within 10 days of thc giving of noticc.
<br /> ' ; Form 3028 9�90 �
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