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<br /> TOGETHER WITH all the improvements now or hereafter erected on the property, and atl easements, appurtenances, and '::'-
<br /> fixhues now ar hereafter a pare of We property.AU replacemeiits end additians shall also be covcrcd by this Securiry Instrument. � ^�__ _
<br /> �,,. All of tlte foregoing is referred to in this Securiry Iiutrument as We"Property" -
<br /> ��� . ..,,� BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the risht to grant and �
<br /> convey the Property snd that the Property is uneacumbered, except far eacumbrances of record. Borrower warrants and w� �
<br /> defend generally the tide to the Properry againsc all claims and demauds,subject to any encumbrances of record. _
<br /> THIS SECURITY INSTRUMENT combines uniform covenants for naaonal use and non-uniform covenants with limited� _
<br /> var�atioas by jttrlsdiction to constitute a uniform aecurity insmiment covering real property. �
<br /> UNIPORM COVENANTS.Bonower and l.ende ent andLa�Charges.follo��ower shall promptly pay when due the�
<br /> 1.Payment of Princlpal and lnterest;Prepaym —_-
<br /> principal of and iaterest on the debt evidenced by the Note and any prepayment and late charges due under the Note. _
<br /> 2.Fundg for Taxes and In9urance. Subject to applicable law or to a wsiaen waiver by I.ender, Aonower s�1 pay�e _
<br /> I.eader oa the day monthlY PaYments aTe due under We Notc,until the Note is paid in fiiU,a sum("Fuads")for: (a)y y
<br /> and assessments which may attain prt�riry over this Security Insaun►ent as a lien oa the Praperty;(b)Year1Y lea.gehold payments `
<br /> � or ground rents on the Properry,if anyc (�)Y�ly h�d or property insurance premiwns:(d)Yearly flood insurance preiulwns.if
<br /> � any; (e)yeazly mortgage insuraace premiums�if a°Y�and�� anY s�Payable by Bonower to Lender, in accordance with the
<br /> provisions of paragraph 8, in lieu of the payment of mortgage insurance premiums. These items are called "Escrow Items." �w.
<br /> �;', I.endsr may,at any time.collect and hold Funda in an az►zount not to exceed the maximum amount u leader for a federnlly related �__.
<br /> �� i�
<br /> ' mortgage loan may require for Bocrower's escrow account under the 4'ederal Real Estate Settlement Procedures Aet of 1974 as
<br /> amended from time to time, 12 U.S.C. 5ecuon 2601 et seq. ( RESPA"),unless another law that applies to the Funds sets a lesser �-<
<br /> amount. If so, I.eader may, at anY time, coAect and hold Funds in an amount not W exceed the lesser amount. Lender may �;
<br /> � .� estimate the amount of Funds du.on the basis of current data and reasonable estimates of expendinues of future Bscrow Items or
<br /> �.� otherwise in accordance with applicable law. �,y�eQ�; or enti (inclu ��.
<br /> , T h e F u n d s s h a ll be held in an insatudon whosc deposits are iusured by a federal agency, �Y• ty �
<br /> - — Leraler, if La�er ia ouch an insticution)or in any Federal Home Loan Baak. L e n der s h a 1 1 app ly t h e F u a d a t o p a y t h e E s c r o w �,__
<br /> � . Items. Lender may not chargc Bonower for holding and applying the Funds.annuaUy aoalyziug ihc cscivtv du.GUIIt,ar vcrlfj;inS �
<br /> `� the Escrow Items,unless 1-ender pays Bonower lnterest an the Funds and applicable law permits Lender to make such a charge.
<br /> � Ho�vever. Lender may require Borrower to pay a one•time charge for an independent real estate tax reporting service used by
<br /> s• L,ender In connection with this loan, unless applicuble law provides otherwise. Ualess an agreement is made ar applicable law
<br /> i,. requires iuterest to be paid,Lender shall not bc required to pay Bonower any interest or eumings on the Funds. Bnnawer and ��
<br /> 1 l.ender may agrec in writing,however. that interest slusll be paid on the Funds. Lxnder sball give to Borrower, without charge.an
<br /> � aanual accounting of the Funds,shawing credits and deblta to the Funds and the purpose for which each debit to the Fundq was
<br /> �, enade.The Funds are pledged us additlonal securiry for all sums secured by Ihla Secur3ty Instrument.
<br /> � �;� If the Funds held by Lender exceed the amounts permttted to be held by epplicable law.Lei�der shall account to Borrower for
<br /> � the excess Funds in accordence with the requirements of upplicuble law.If the amount of the Fuads held by l.ender at any tlme is
<br /> i'x'! aot sufticient to pay tlie Escrow ltems when due.I.ender may so nodfy Bonower in writing,and,in such case Borrower shall pay
<br /> k to I.ender the amount aecessary to make up the deficieucy. Bonower shall make up the deficiency in no more than twelve
<br /> monthly payments,at L.ender's sole dfscretion.
<br /> Upon payment in flill of aU sums secured by this Security Instrument,L.ender shall prompdy retLnd to Bonower any Funds i
<br /> � held by L,ender. If. under paraffraph zl,Lender shall acquire or seU the Pruperty, I.ender,prior to the acquisitioa or sale of the
<br /> ° Property, shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sucns secured by this _
<br /> � �' Security Insm�ment. �` __-
<br /> 3.AppHcatton of Payments. Unless applicable law provides otheiwise, all payments received by Lender under paragraphs �-
<br /> ,� 1 and 2 shall be applied: first, to any prepayment charges due under t1�e Note;second, to amounts payable ucder garA�aph 2, �_.__
<br /> third,to interest due;fourth,to principal due;and last,to any late charges due under the Note. `_
<br /> 4.Chargcs;Lienv. Bono�vcr shall pay all taxes, assessments, charges, fines and impositions attributable to the Property ,-.,,;,y,�,:.
<br /> ,•n�_4
<br /> which may attain priority over this Security Instnunent, aml leasehold payments or sround rents,if any. Borrower shaU pay ese
<br /> �_ti-_-."_
<br /> � obligatlons in the manner provided in para�raph 2, or if not paid in that manner,Bonower shaU pay them on time direcdy to the .�_._
<br /> person owed payment. Borrower shall promptly furnish to Lendcr all notices of amounts to be paid under this paragtaph. If �"-,,;
<br /> Borrower makes these payments Juectly,Borrowcr shall ptompdy furnish to Lender receipts evidencing the payments. :�,�
<br /> Borrower shall prompdy discharge any Ifen which has priority over this Security Insuvment unless Bortower: (a) agrees in � -.- ,
<br /> � writing to the payment of the obligation secured by the lien in a manner acceptabie to Lender;(b)contests in�ood faith the lien
<br /> by, or defends against enforcement of the ll�:n in. Iegal proceedings which in the Lender's opinion operate to prevent the
<br /> enforcement of the lien: or(c) secures from the holder of the lien an agreement satisfactory to L�:nder subordinating the lien to
<br /> this S��curity Instrument. if Lender determines that any pan of We Property�is subject to a lien which may attain priority over thts
<br /> Securiry Instrument, Lender may give Borrower a noticc:idenafying the licn. Borrower shall satisfy the lien or take one or more
<br /> ' of the actions set forth above within 10 days of the giving of notice. Form 302/�[l9�90 //�
<br /> /� P+ae 2 of 6 Iniudt: /�h /\C.J
<br /> l.R(N�il �v}Ih01 __—.
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