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<br /> 7'OCiE1'F�R WITH all the improvemenis now or hereafter erected on the prapeRy,nnd all casemenis,appurtenances,and . �..-
<br /> Cxtures now on c�r�aftcr a part af ihc property.AU rcplacements and additions shall also be cavcrcd by this Se�urity Instrument. •
<br /> �• All of tha forcgoing is rcfcrred to in this Sccuriry Instrumcnt as thc"Praperty." I ���
<br /> BORROWER COVENANTS that Bonowcr is lawfully seised of tha cstate hcreby wnveycd and has thc right to grant and� { '�'=�
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<br /> �" convey the Propeny and that the Property is unencumbered, exeept for encumbrances of record. Bonower warrants and will� I , �.�---
<br /> defend benerally the title to the Property against all claims and demands,subject to any encumbrances of record. � '�
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<br /> THIS SECURITY INSTRUNiENT combincs uniform covcnants for naponal usc and non-uniform covenants wi�h limiud Q • •
<br /> variadonsby jurLsdiction to constitute a uniform security instrument covering real property, ���
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<br /> UNIF02M COVENANTS.Bonowcr and Lender covenant and agree as follows: •��•:=
<br /> 1.Papnent ot Prtncipal and Interest;Prepayment and Late Charges. Bonawcr shall prompdy pay when due thc ``
<br /> principal af and interest on thc debt cvidenced by thc Notc and any prcpayment and late chargcs due undcr the Notc. N '
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<br /> 2.Fu�ds for Taxes and insurance. Subject to applicablc law or to a written waiver by Lcnder, Borrowcr sheU pay to -.:.
<br /> Lender on ihc day monthly payments arc duc under thc Note,unW the Note is paid in fuU, a sum("Funds")for:(a) ycarly taxcs '�;---
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<br /> and assessmcnts which may attain pdodty over this Sccurity Instrument as a lien on the Property;(b)Yearly leaschold payments ;}�:
<br /> or ground rents on the Progerty,if any;{c)yearly ha7ard or prnperry insurance premiums;(d)yearly flood insurance premiums,if
<br /> any;(e) yearly mortgage insurnnce premiums,if any;and(�any sums payable by Borrower to Lender,in accordancc with the
<br /> provisions of paragraph 8, in lieu of the payment of mortgage insarnnce premiums. 'lhese items are called "Escrow Items."
<br /> Lcnder may. nt any time,collcct and hold Funds in an amount not w excced the maximum amount a lcnder for a fcderaUy rclatc�i ���.,:
<br /> � mortgage ban may require for Borrower's escrow account under the federal Real Estate Settlement Procedures Act af 1974 as -
<br /> � amended Gorn time to time, 12 U.S.C.Section 2601 et seq. ("RESPA"),unless another law ihat appUes to thc Funds sets a lesscr
<br /> � amount_ If so,Lender may, at any dme, wllect and hold Funds in an amount not to exceed thc lesser amounG Lendcr may -
<br /> estimutc�hc amount of Funds duc on the basis of currcnt data and reasonablc estimates of expendiwres af future Escrow Items or
<br /> `' ; otherwisein accordance with applicable law.
<br /> � ` 'Ihe Funds shall be held in an instiwdon whose deposits are insurcd by a fedcral agency,instrumcntallry,or enuty(including
<br /> � Lertder. if Lender is such an institudon)or in any Federal Home Loan Bank.I.ender shall apply thc Funds w pay the Escrow t:
<br /> • = It�ms.Le.�er m8y not zherg�B^rrmwcr f�r holding and applying the Funds,annually anelyzing thc escrow account,or verifying _
<br /> ;� � the Escrow Items.unless Lcnder pays Bonowcr interest on the Funds and applicable law permits Lendcr to make such a charge. _
<br /> '��� However,Lender may mquire Bonower to pay a one-time charge for an independent real estate tax reporting service usod by =
<br /> Lender in connecdon with this loan,unless applicable law provides otherwise.Unless an agreement is made or applicable lt►a —
<br /> : requires interest to be pald.Lcnder sh�li not be required to pay Boaower any intcrest or eamings on the Funds.Sorrower and -=;
<br /> Lender may agree in writing,however,that interest shall be paid on the Funds.Lender shall give to Borrower.without charge.an �=
<br /> annual aaoundn$of the Funds,showing credits and debits to the Funds and the purpose for which each debit to the Funds was ;;
<br /> made.Thc Funds are pledged as addiBonal security for all sums sccuced by this Sccurity Instrumen� �
<br /> �� If the Funds held by Lender excecd the amaunts permitteci to be held by applicuble law.Lender shalt account to Borrower for �"v`
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<br /> �" the ezcess Funds in accordance with the requirements of applicable law.If the amount of the Funds held by Lender at any dme is �
<br /> not suffiacnt w pay the Es�row Itcros when duc,Lender may so notify Bonower in writing,and.in such cesc Bonower shall pay ■f
<br /> �' to Lenda the amuunt necessary to maka up the deficicncy. Borrower shall make up Ihe de�ciency in no more then twelve
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<br /> � ' monthly payments,at Lender's sole discrcdon.
<br /> � Upon payment in full of all suins secured by this Security Inswment,Lender shnll prompdy refund to Sorrower any Funds
<br /> '. �. held by LeRdcr. If,undcr paragraph 21,E..cndcr shall acquuc or scll the Froperty,L.endcr, prior to the acquisiuon or sale of thc _ �
<br /> Property,shall apply any Funds held by L.ender at the time of acquisidon or sale as a credit against the sums secured by this
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<br /> �t 3. Applic�tion of Payments. Unless applicuble law provides otherwise,all payments received by L.ender under paragraphs
<br /> „ 1 and 2 shall bc applicd: Cus� to any prcpaymcnt charges duc undcr thc Notc;scxond,to amounts payablc undcr paragraph 2;
<br /> �� third,to interest due;iour�h,w principai due;and las�to any Iate charges due under the Note. '�_m^;—
<br /> � 4. Clwrges; Ltens. Borrowcr shall pay all taxcs, a�sessmcnts, charges, fincs und impositions attributablc to thc Property �;;;�_---
<br /> i which may attein priority ovcr this Security Insirumant,and Icasehold paymcnts or ground rents.if any.Borrowcr shall pay thesc ��`�`�°'=_:_��---•
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<br /> obligatioas in Ihe manner providcd in paragraph 2,or if not paid in that manner,Bonower shall pay thcm on Ume dircctly to the �-�„
<br /> person owed paymenG Borrowcr shall prompdy fumish to L.cndcr all noticcs of amounts to bc paid undcr this paragraph. If ���^°�
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<br /> � Bvrrowern�akes these payments direcdy,Borrower shall prompUy furnish to Lender receipts evidencing the payments. •� �^'��"�"
<br /> . Borrowcr shall prompdy discharge any lien which has prioriry over this Security Instrument unless Borrower. (a)agrees in �Y°.-'�- : ' �"_
<br /> I wdting b the payment of the obligation sccured by the lien in a manner acccptabie to Lender; (b)contests in good faith the lien A.�
<br /> i by, or defends against enforcement of the lien in, legal proccxdings which in the Lender's op�nion operate to prevent the
<br /> ienforeement of the lien;or(c) secures from the holder of the lien an agmement satisfactory to Lender subordinating the lien to
<br /> � this Secaity Instrumen�If Lender dctermines that any part of thc Property is subjcct co a lien which muy attain priority over thls I
<br /> ' Sccurity Instrument,Lendcr may givc Borrowcr a noticc identifying the licn. Barrower shall satisfy thc licn or take nnc or morc
<br /> of thc aclions set forth abovc within 10 duys of thc giving of noticc.
<br /> Fo�m3028 9I90
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