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<br /> ` • • TOGETHER WITH af�che imPravements now or hereaftet ereded on the properry.and al!easements,appurtenances.and , . - �.
<br /> �i.�tures now or hereafter a part of the property. A11 replacements and additions shall also be co�ered by this 5acurity �
<br /> : -;�:',--.�:=.�-_'- Instnimentasthe"Propeny." - - .
<br /> � Instrument,AII of the foregoing is referred to in this SecuritY �
<br /> ' ` � BORROWER COVENANTS that Boaower is lawfiilly seised of the estate hereby wnveyed and has the right to grant and
<br /> , convey the Propeny and that the Prope.rty is unencumbered.eacept for encumbrances of*ernrd. Bon°w�warrar►u and Ncill ,,,`` _`
<br /> •� , , ` '`° defend genecal�y the dde to the Property against a11 claims and demands.subject to any encumbrances of record•
<br /> � THIS SECURITY INSTROMEN'C oombines uniform rnvenants for national use aad non�nifarm covenants wetb limited .
<br /> . variations by jwisdicdon to constitute a uniform secvrity insirument covering reaZ property. . ..'
<br /> UNIFORM COVENANTS.Bor�ower aud Lender covenant and agree as faitows: ,, ti,� , .t:
<br /> • ` I, payment ot Principal aad Interest; PreQaYmeat and Late Cha�ges- B°n°wer shalF prompUy pay when due the � ,
<br /> r�..�-�-� principal of and interzst on the debt evidenced by the Note and any prepayraent and late charges due under the Note. �4 'rM,`.;
<br /> st
<br /> .��_:, -�� 2. Fnnds for'faxes sud It�rance-Subjecx to ag�licable!aw or to a written waiver by Lender. Botrower shall pay to _ -. -
<br /> _'�i4-s u`' ...' '
<br /> `��:�� - • Lender on the day monthly payments are due under the Note,until the Plote is paid in full,a sum("Funds")for:(a)yearly taxes
<br /> and assessmenis which may attain priority over this Security Instrument as a lien on the Property:(b)yearly leasehold payments �N .,_
<br /> ha7ard or m e insurance mmiums:(d)yeariy flood insurance premiums. t:-:t . .`.�
<br /> ,�._
<br /> •� ti; ��:�.. •.•
<br /> " . � or ground reats an the Property,if any;(c)Year1Y P P rt3+ p _ _ . .`
<br /> remiums. if an ,and(fl�►Y�PaYabte hy Sorrower co Lender.in accordance witb :.J`;,4 `.
<br /> .- _ - . .��:;, if any;(e)Year1Y�rtSaSe insurance p Y' -.
<br /> _�. � --(-;-�'_--'-� the provisions of paragraph R, in lieu of the paymem o f mortgage insurance premiums.These items are called"Pscrow Items." .
<br /> � � ` Lender may. at any[ime.collect and hold Funds in an amount not to exc�ed the maximum amount a jender for a federatly �� �>:.
<br /> � `# retated mortgage loan may reyuire for Borrowei s escrow account under the federal Real Fstate Setuernent Pmcedures A�of .� t r �-_
<br /> i ;'�. .. � i9yq as ameaded from time to time, 12 U.5.C. Section 2601 et seq. ("RFSPA"), unless another law that applies to the Funds , ;-`�_
<br /> • sets a lesser amount. If so. Lender may.at any time, collect and hotd Funds in an amount nat to exceed the lesser amount. r:':�_�;.
<br /> . � ' ��p Lender may estimate the amouzrt af Funds due on the basis af current data and reasanable eswnaies af eapenditures of future __
<br /> ' Escrow Items or otherwise in accordance with aPAlicable law. �� .'�• �' �
<br /> ' 7�.'%.
<br /> � -'� �� The Funds shall be hetd in an Institution whose deposiu are insured hy a federal agency. instrumentality. or entity ,_,:`,_..,_ �.
<br /> . r. (including Lender,if Lender is such an ins�itution)or in any Federal Home i_oan Bank.Lender shall apply the Funds to pay the �, y -_
<br /> �- Fscrow Items. 1.ender may not charge Borrower for holding and appiyiag the Funds,annually analyzing the escto�+ac.count,or +.:�''_
<br /> �, veri f ying the�scrow Items,utiless Lender pays Borrower interest on the Funds and applicabie law permits Lender to make such , -� ��:',:�°���
<br /> �� � �-�;,;` . a charge.However.I.ender may require Borrower to pay a one-time charge for an independent real estate tnx reporting service ,, ���-.�.
<br /> ment is made or -� �'��'
<br /> � � � .. , used by Lender in connection with this loan. unless applitable law provides otfierwise. Unless an agree - �;., :•:.:,,,.
<br /> pa Borrower an interest or eamings on the Funds. - •• � T"'�•�
<br /> � applicable law requires interest to be paid,l.ender shall not be requii'ed to y Y , � ``=
<br /> = . - Borrower a n d L en d er may agree in wri t i n g.however. ttiat interese shal!be paid on the Funds. Lender shall give to Borrower.
<br /> :.;::'.:� •��'`.,
<br /> ' . without charge.an annual accounang of the Funds,showing credits and debits to the Funds and the purpose for which each _�'�_�:_�
<br /> debit to the Funds was made.The Funds are pledged as additional security for all sums secured by this Security Instrument. � ,.;��F��-
<br /> . `� ' If the Funds held by I.ender exceed the amounts pernutted to be held by applicable taw,Lender shal!account to Borrower ;�. �
<br /> for the excess Funds in acwrdance with the r�iremenis of applicable law. if the amonnt of the Funds held by I.ender at any —_
<br /> • � .� time is not sufficient to pay the Escrow Items a'.►en due.Lender may so notify Borrower in writing,and,in such case Borrower . " .�
<br /> _ . � , shall pa y to Lender the amount necessary to make up the deficien�y.Borrower shall make up the d�ciency in no more than � ' �:�;�_�.:�':?s-
<br /> : , -'�"-.
<br /> ' twelve numthly payments.at Leader's sole discretion t'"`R"""
<br /> . .• , . � �' Upon payment in full of all sums secured by this Security Instrument. I.ender shaii promotly rcfund W Bonower any :�'�' i�;
<br /> - � -� ---��� Funds held by I.endar.If.under pazagraph 21.Lender shall acquire or sell the Prope�cy.Lender.prior to the acquisiuon or sale _ '�^_�
<br /> ' af the Property.shall apply any Funds held by Lender at the ame of acquisition or sale as a credit against the sums secured by ^�`
<br /> . - - - - this Secwity Instrument. -- :�- _
<br /> ' 3.AppllcaBon of Paymenis.Unless applicable law provides otherwise,all paymen�s received by I.ender under paragraphs � _�..
<br /> '' • • 1 and 2 shall be applied:first.to any prepayment charges due under the Nate:second,to 3mounts payable under paragraph 2; . , _ _�-
<br /> � � third,to interest dne:fourth.to principal due:and last.to any late charges due undec the Note. , '� . -�F
<br /> . � � � 4.Charges;l.te�s•Barrower shall pay all taxes,assessments,charges. fines and imposirions attributable to the PropeRy .� .•.,•�. '
<br /> - which may attain priarity aver this Security lnstrument, and leasehold payments or ground renu, if any. Eorrower shall pay __ .""'�`�
<br /> :' � . these obligations in the manner provided in paragraph 2.or if not paid in that manner.Borrawer shall pay them on time dirertly ,Mi�
<br /> • - � to the person owed payment. Borrower shall pramptly furnish to Lender all notices of amounu to be paid under this paragruph. ,; ? . '
<br /> . ,�, ..,
<br /> . If Bonower makes these payments directly.Borrower shall promptly furnish to Lender receipt�evidencing the payments. =:,� :.,
<br /> � • � Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower:(a)agrees in __
<br /> ' . � : � wriqng to the payment of the obligation secured by the lien in a manner acceptable to l.ender:(b)contes�s in good faith the lien •
<br />_". � � � . by. or dcfends against enforcement of the lien in, legal proceedings which in the L�ender's opinion operate to prevent the '� . .
<br /> enforcement of the lien;or(c)secuns from the holder of the lien an agrecment satisfaxvry to Lender subardinatircg the lien to .
<br /> � � this Security lnstrument. lf I.ender determines that any part of the Property is subject t�a lien which may attain priority aver .
<br /> this Security lnstrument.Lender may givc Bnrcower a notice identifying the lien.Borrower shall satisfy the lien or take ons or
<br /> �. more of the actions set fotth above within 10 days of the�iving of notice. •
<br /> � �" I Form 3028 8�90 • ' `
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