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<br /> 1 TO(1ETHER WI1'H uU the improvcments now on c�rcaftcr crcctcd on thc property,and sU casements,appurtenances, and =
<br /> Cixuues now or hereafter a part of the properry.All replacements and additions shall also bc covered by this Security Instrumen� '`..
<br /> All of the foregoing is referred to in this Security Instrument as thc"Properry." Cf, • °
<br /> BORROWER COVENAIV'TS that Borrowcr is lawfully seised af the estate hcreby conveyed and has the right to grant and� ' ,�-•
<br /> „ � convey the Propetty and that the Paoperty is unencumbered, except for encumbrances of record. Borrower warranis and will � .� ��•
<br /> defend genecaUy the dtle to the Property against all elaims and demands,subject to any encumbrancrs of record. N � ``��•��
<br /> ' � TfIIS SECURITY INSTRUIV�NT combines uniform covenants for national use and non•uniform covenants with limited C � _
<br /> 1 veriadons by jurisdlcdon w consdwt�a uniform socurity insuument covering real properry. .; ;,`-�;.��=-'
<br /> UMFORM COVBNAIVTS.Borrower and L.endcr covennnt and agree as follows: � ° ,«,�,,�y�n..
<br /> � 1.Pa ment of Princi al And Interest; Pre a ment and LAte Char es. Borrowcr shall rom d ` '����-
<br /> Y P P Y g P P Y Pay when due the w "-„+���,,,n„_•
<br /> principal of and interest on the debt evidcnccd by the Note and any prepaymcnt and late charges duc undcr the Notc. �-.-�-
<br /> 2.Fuuds for Taxes and InsurAaca Subject w applicable law or to a wriuen waiver by Lender, IIorrower shail pay to r���="_�--
<br /> Lender on thc day monthly payments are due under thc Note,unW the Notc is paid in full,a sum("Funds")far:(a)yearly taxes � ,�
<br /> and asse,�.sments which may suain pdoriry over this Secnriry Instrument as a lien on the Property;(b)yearly leasehold paymenis --
<br /> or ground rents on the Property,If any;(c) Yearly hazard or property insurancc premIums;(d)Yearly flood insurance prcmiums.if ' :.s�;'..�"'
<br /> � any; (e)yearly mortgege insuranccs premiums,if any;and (� any sums payable by Borrower to Lender.in accordance with the . :� �
<br /> provisions of paregraph 8, in lieu of Ihe payment of mongage insurance premiums.These items are called "Escrow Items." �" �`
<br /> Lender may,at any time,coUest and hold Funds in an amount not to exceed the maximum amount a lender for a federally relaud �
<br /> mortgage loan may require for BorrowePs escrow account under the federal Real Estate Settlement Procedures Act of 1974 as ' ''�<
<br /> amended from time w time, 12 U.S.G.Secdan 2601 et seq. ("ItE5PA"),unless another law that applies w thc Funds sets a Icsser � ��''�
<br /> amounG If so, I.ender mey, at any time, collect and hold Funds in an amount not to exceed the lesser amounG Lender may •,��.�,�4
<br /> esdmate the amount of Funds due on thc basis of current data and reasonable estiunates of expenditures of fuwrc Escrow Items or �` `:
<br /> otherwlse in accordence with appllcable law. ..:;.-,�
<br /> � . The Funds shall be held in an lnstiwdon whose deposiu are insured by a federal agency.instrwnentality,or entity(including " • -°—
<br /> Lender,if I.ender is such an insdtudon or in an Federal Home Loan Bank. I.ender shall 1 the Funds w a the Escrow `��'�"� �
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<br /> Items.Lender may not charge Borrower f�r holding and applying the Funds,annually analyzir►g the escrow account,or verifying �" �� •�'
<br /> � tho Fscrow Itema,unless I.ender pays Borrower interest on the Funds end applicable law permits Lender w make such a charge. , ���"�
<br /> However, Lender may requ�re Borrower to pay a one-time charge for an independent rcal estate tax reporting service used by �`A'
<br />- Lender In connecdon with this loan,unless applicable law provides otherwlse.Unless an agreement is made or applicable law :r�e:��`�
<br /> requires interest w be paid,I.ender shall not be required w pay Borrower any interest or eamings on the Funds.Bonower and "�'��"'�
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<br /> Lender may agree In wridng,howevcr,that intcrest shall be paid on the Funds.Lcndcr shall give to Bonower,without charge,an 'LL'�=
<br /> annual accounting of Ihe Funds,showing credits and debits to the Funds and thc purpose for which each debIt to the Funds was ��
<br /> made.'tlie Ft�nds are pledged as eddidonel securiry for all sums secured by this Security Instrument '!t�`;-
<br /> If the Funds held by Le,�der excced the amounts permitted to be held by appGcab181aw,I.ender shall account to Borrower for :r i -;�
<br /> the excess Funds in accordence with the requirements of appGcable law.If the amount of the Fnnds held by L.ender at any dme is r' •
<br /> not sufficient to pay the Escrow Items when due,Lender mny so notify Borrowcr in writing,and,in such case Sorrower shall pay ; -•
<br /> to Lender the amount necr,ssary to make up the deficiency. Bonower shall make up the deficiency in no more than twelve
<br /> monthly payments,at Lender's sole discretion. �
<br /> . Upon payment in fuU of sU sums secnred by this Security Instrument,Lender shall prompdy refund to Borrower any Funds
<br /> held by Lender. If, under paragraph 21,Lender shall acquire or sell the Property,Lender,prior to the acquisidon or sale of tha
<br /> Property, shal! apply any Funds h�ld by Lender at the time of acquisition or sale as a credit ageinst the sums secumd by this
<br /> Secnrity Instnunent �� �
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<br /> 3.Applkation of Payments. 1Jnless applicablc law providcs othcrwise,all payments reccived by Lcndcr under paragraphs
<br /> � 1 and 2 shall be applied: fust,to any prepayment charges due under thc Note;second,to sunounts payable under para�raph 2;
<br /> • third,w interest due;fourth,to principal due;and lest,to any late chazges due under the Note. �n�...�—
<br /> 4.Charges;Liene. Borrower shall pay aU taxcs,assessments, charges, fines and impositions auributable to the Property � �
<br /> which may attein pri�ty over this Seciuiry Instrument,and leasehold paymcnts o�ground rents,if any,Borrower shall pay these -,�,-_=- _-_" -
<br /> - obligaLions in thc manner providecl in paragraph 2,or if not paid in that manner,Borrowcr shall pay them on dme direcAy to thc ,`�,�3 i � ��:�.
<br /> ' person owed paymenG Borrower shall prornpdy fumish to Lcnder all nodccs of amounts to be paid under this paragraph. If N��
<br />' "I Borrowcr makcs these paymcnu directly,Borower shall prompdy fumish to Lcnder reccipts cvidcncing the payments. � '�>'�"�
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<br /> Borrowcr shell prompdy discharge any 'en which has priority over this Security Insuument unless Borrower: (a)agees in "'"�'"'"7`'����`��
<br />_ � writing to the payment of the obligahon socure,ci by the lien in a manner aceeptable to Lender,(b)contests in good faith the lien `.w�::
<br /> _ � by, or defends against enforcement of the licn in, legal proceed'uigs which in the Lender's opinion operate to prevent th� ��• - �
<br /> , enforc�ment of the lien; or(c)secures from the holder of the licn an agreement satisfactory to Lender sulwrdinating the lien to '
<br /> _ � this Security InstrumenG If Lender determines that any part of the Property is subject to a lien which may attain priority aver this � �
<br /> Securiry Instrumcnt, Lcndcr may givc Borrowcr a noticc idcntifying the licn.Borrower shall satisfy thc lien or takc one or morc
<br /> . of thc actions sct forth above within 10 days of thc giving of nodce.
<br /> IForm 3028 O/90
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