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<br /> TOC)8TH8It WITH all the improvemente now or horcaftcr erectod on the prupeny. and�II easementr,appurtenancea,And
<br /> tixturca now or hereafter a part of the property. All replwxmentx und udditians shell al�o bc crovercd by this Socu�ity
<br /> — Itatrument.All of the faregaing ia rcfeRed ta in lhis Securiry Inatrument us thc"Propeny.'
<br /> - BbRROWER COVBNANTS that Barrower ie lawfully seised of the estate hereby canveyod and ha�the�ight to grant and
<br /> -,a convey the Property and �tiat the Property ia unencumbered, eacept for encumbrunces of rernrd. Borr��wer wArrant�ond wlll
<br /> _ dafend generally the tlQe to the Property ng�ioat all cldms and demar�d�.subject to uny encumbruncea of rocord.
<br /> • — - -_ _
<br /> THIS 3ECURITY INSTRUMBNT combines unlform covenants far nutional use und nan•unifami cnvennnt�wilh limited
<br /> �4` vatiations by juri�diction to constiwte a uniform security instcument covering real property,
<br /> UNIFURM COVENANTS. Bonower and l.ender covenant and agrce as i'ollows:
<br /> � 1. Paymeut of Priacipal and lnterest; Prepayment t+nd Lete Chprges. Banowe� shall pramptly puy when due tho�
<br /> --_—.___ _____ pdncipal of end intercst an the debt evidenoed by the Nate and any prepayment and lutc churges due under the Notc.
<br /> • 2. Funds for TAxes and Insumnce.Subject to applicable law or to u wrltten waiver by l.ender, Borrower shull pay to
<br /> �� l.ender on the dAy monthly payments are due under the Nate,until the Note is paid in full,a sum("Funds")fnr:(a)yen�ly taxes
<br /> ------ and assessments which may attain priorlty over this Security Instrument as a lien on Ihe Property: (b)yeurly leasehold pnyments
<br /> � or ground rents on the Property, iP nny;(c)yearly he�ard or property insurance premiums;(d)yearly flaod inaurunce premiuma,
<br /> ��-� if any;(e)yearly mortgage in�urance premiums,if any: end (�any sums payable by Borrow�r ta L.ender, in accardance with
<br /> �9.��.�,����„�, the provisians of paragraph 8, in lieu of the payment of martgage insurance premiums.These Itema ure called "Escrow Itemsti."
<br /> I.ender may, at any tfine, collect nnd hold Funds i�a�amount not to exceed the maximum amount a lender for u federnlly
<br /> related mortgage loan may require for Borrower's escrow account under the federal Real Esate Settlement Procedures Act of
<br /> - -- � 1974 us stmended from time to timc. 12 U.S,C. SecNnn 2h01 e�seq. ("RFSPA"), unless onother law that Appiies to the Funds _
<br /> �'���a► �; sets a lesser amount. If so, I.ender may, at any time, callect and hold Funds in an amount not to exceed the lasser amount.
<br /> —��!':�"�''�-•� -}'�' `�. I.ender may estimrate the umount oP Funds duc on the bacia of cunent data anJ reasonable eetimates of expenditures of future
<br /> � �' r ,
<br /> s.�x,;�:•..o,.-_:" :'. :
<br /> ae,�.,.:.,,,...;�•.rs Escrow Items ar othenvise in accordance with applicaMe law.
<br /> '�"" '�'%��"���` + The Funds shall be held in an institutian whose deposits are insured by u federel agency, inslrumentality, or entity
<br /> _���,:
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<br /> '�," � � • ' (including I.ender,if Lender is such an instiwtion)or in any Federal Home I.oan Bank. Lender shall apply the Funds to pay the
<br /> °—';�x.'� �..;�. : Escrow Items.l.ender may not charge Borrower for holding and applying the Funds,onnurlly analyzing the escrow accounl.or
<br /> • ,.��•:, '3"::.
<br /> - � ,, ri,,., „ verifying the Bscmw Items,unless Lender pays Borrower interest on the Funds end appliceble law permits L.ender to make such
<br /> '� �'`%'�"�' a charge. However, L.ender mny require Barrower ta pay a one-time charge for an independent real estsHe tax�eporting service
<br /> -_ ._ a�,tr�k��«.:,�:�:�
<br /> ` ~�— ..;���, ,, used by I.ender in connection with this Ioan. unless applicable law provides otherwire. Unless an agreement is �nsde or
<br /> �• '`'�'�''�'�'%_'�` '•:' applicable law requires interest to be paid,l.ender shdl n�t be required to pay Borrower any interest or earnings on the Funds.
<br /> -`=''��==`-•---�� g4�nw?r nrui lender may agree in writing. however,thut interest shell bc paid on the Funds. [.ender shall give to Borrower,
<br />--'�y''� ����"��_..�' ` "'� '�' without charge, an annual accaunting of�he Funds,showing rreditc and dcbits to the Funds and the purpose for which each
<br /> , . " � debit to the Funds wos made.The Funds are pledged as additional security for all sums cecured by this Security Instrument.
<br /> . � If the Funds held by I..ender exceed the amounts permitted to be held by applicable law.l.ender shaU account to Borrower
<br /> � . .,
<br /> . :� . for the excess Funds in uccordence with the requirements of upplicable law. If the amaunt of the Funds held by l.ender at any
<br /> :,;� time is not sufficient to puy the Eurow Items when due. l.ender muy so natify Borrower in writing,und, in sucl�case Borrower
<br />�,; .' a �b*^ shull pay to Lender the arnount neceswry to make up the deficicncy. Bormwer shall make up the deficiency in no more than
<br />= �' twelve monthly puyments,at Lender's solc discretion,
<br /> ;:�.' � � ' • Upon puyment in full of all sums secured by�his Securiry Instrument, l.ender shall prompdy refund to Borrower uny
<br /> :,� w•
<br /> _, ._ Funds held by I.ender. If,under p•rrugraph 21, l.ender shall ucquire or sell the Property, l.ender,prior to the acquisition or�ak
<br />.'� , c y*y.;, "' of the Praperty, shall npply any Funds h�ld by Lender ut thc time of ucquisitiun ar sale ua a credit aguinst the sums secured by
<br /> ��� ..�.s•..,, this Securiry instrument.
<br /> s•t . w-- •- ~ 3.Application of Pvymentq.Unless uppli�vble law pnwidcr othenvise,ull paymrnts received by Lender under paragraphs
<br /> ' ' 1 and 2 shnll be applied:first, to any prepayment chargc�due under the Nnte; second, to amounts payable under paragraph 2;
<br /> .'�" , 'S�, R third,to interest due;fourth,to principnl duc:und lu.u, �o any lutc churgc�due undcr�he Notc.
<br />' � �� 4. Charges; I.lens.&xrower shull pny ull tuxes, assc.smcnts, churges, fines urni impositions attributnble to the Propeny
<br />�`..� � • V � y; •� which may attuin priority aver this Security Instrument,und leuschald puyments or ground rents, if ony. Borrower sh�ll pay
<br /> �.. _ ' . � • , ' these obligutians in the munner provided in puragruph 2.ar if not puid in�hut mum�er,B�irn�wer shull puy them on time direcHy
<br /> , _, . to the peru►n owed paymcnt. &�rrower shnll prompdy fumish to I.ender all noticeti of umounls to be puiJ under this paregraph.
<br /> 4i.., .• ."s:�.. If Borrower mukes thcse paymcnts direcUy,Borrowcr shull promptly furnish to l.endrr rcceipt+eviJencing the payments.
<br /> . . .�� ` Borrower shnll prompdy discharge uny lien which hn�priarity ovcr this Securiiy In,trument unlcsx&�rrower:(nl ugrees in
<br /> ' ..4•. ' writing to the paymcnt of�hc ohligutiun s�rurcd by Ihe lien in u maoner acrepwhlc t��Lender:(b►contctitx in gcwd fuith thc licn
<br /> ' ¢ � by, ar defends against enPorcement of tlk lico in, Ic�al prixeedings which in thr Lrndrr's cipinion operute tu prevent the
<br /> • ��'µ'r�'= V� enforcement af thc lictr, iir(cl�ecure+frum the h�►Idcr al'Ihr licn un ugrecment+ati�fartory• to LAixler.utx►rdinating the lien ta
<br /> �;,�.�:• � this S��urity instrument. lf I.enJcr Jeterminc. Il�at any part of thc Prupcny i,�uhj�rt tu a licn which may uttain priority ovcr
<br /> , { � . this Sccurily Inxtruimnt.Lendcr may givc Hnrru���rr a n��tirr iJrntil'yiog thr lirn. R��rruH•cr �hall�atisfp thc licn nr tuke nnc or
<br /> : � �, � more of[he actions set forth above within 10 Juy�uf ih�giving af nutirr.
<br /> Fam 3028 9/80
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