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<br /> � TOGBTHER WITH all the impravemcn�s now or hereafter erected on the propeny, and all•cascments,a�purtcnanccs,:u�d �,
<br /> fixtures now or hereafter a part of the property. AU replacements and additions shall alsa be covered by this Security
<br /> Instrument.All of thc foregoing is refened to in this Security Instrument as the "Propeny." �
<br /> BORROWER COVENANTS that Bonower is lawfully seised of the estate hereby conveyed and has the right ta grant and �
<br /> convey the Proper[y and that the Property is unencumbered. except for encumbrances of record. Borrower warrants and will
<br /> 1 defend generally the title to the Property against all claims and demands, subject to any encumbrances of record.
<br /> ITHIS SECURITY INSTRLIMENT combines uniform covenants for national use and non-uniform covenants with limited _
<br /> � variations Uy jurisdiction to constitute a uniforrn security ins[rument covering real property. _
<br /> ' UNIFORM COVENANTS. Borrower and I.ender coveriant and agree as follows: _
<br /> 1. Payment of Principal and Interest; Prepayment and Late Charges.Bottower shall promptly pay when due the
<br /> - pdnclpal of and interest on the debt evidenced by the Nate and any prepayment and late charges due under the Note.
<br /> ` 2. Funds[or Taxes and Insurance.Subjecc to applicable law or to a wri[�en waiver by Lxnder, Borrower shall pay to
<br /> Lcnder on the day monthly payments are due under the Note, until thc Note is paid ir,full,a sum("Funds")for:(a)yearly caxes �'
<br /> � and assessments which may attain priority over this Security Instrument as a lien on the Property; (b)Yearly leasehold payments . ,t,��1„�3,.;.
<br /> or ground rents on the Property,if any:(c)yearly hazard or property insurance premiums;(d)yeuly flood insurance premiums, _�-�,,�,;���_
<br /> if any; (e)yeatly mortgage insurance premiums,if any; and (� any sums nayable by Borrower to Lender, in accordance with • •,...��,.
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<br /> the provisions of paza�raph 8,in lieu of the payment of mortgage insurance premiums,These items are called"Escrow Items." .;_�_
<br /> � Lender may, at any [ime, collect and hold Funds in an amount not to exceed the maximum amount a lender for a federally
<br /> S related mortgage loan may require for Borrower's escrow account under the federal Real Estate Settlement Procedures Act of �:};�Yy�`
<br /> f 1974 as amended from time [o time, 12 U.S.C.Section 2601 et seq. ("RESPA"), unless another law that applies to the Funds , ,
<br /> sets a lesser amount. If so, Lender may, a�any time, collect and hold Funds in an amount not to exceed the lesser amount. , �
<br /> � I.ender may estimace the amaunt of Funds due on the basis of current data and reasonable estimates of expenditures of future 1 .r
<br /> Escrow Items or otherwise in accordance wi�h applicable law.
<br /> , � The Funds shail be held in an instiiution whose deposits are insured by a federal agency, instrumen t a l i t y, o r e n t i t y
<br /> (including Lender.if Lender is such an insiitution) or in any Federal Home I.oan Bank. 1-ender shall apply the Funds to pay the _:.�,�R.,.
<br /> ± � Fscrow Items.L,ender may not churge Bonower for holding azid applying the;unds,annually analyxing the escrow accounc, or •
<br /> ` verifying the Escrow Items, unless Lender pays Bonower interest on the Funds and applicable law permits Lender to make such . �.,,,.;r
<br /> � a charge. However,Lender may require Borrower to pay a one-time charge fvr an independent real estate tax reporting service .;, ` ,;
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<br /> �'� used b y L.ender in connection with this loan, unless applicable law provides otherwise. Unless an agreement is made or .
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<br /> � ; a p p l i cable law re quires interest to be paid,Lendcr shall not be requ ire d to pay B o r r o w e r a n y i n t e r e s t o r e a rn i n g s o n t h e F u nds. •- �
<br /> �b � Borrower and Lender may agree in writing,however, that interest shall be paid on the Funds. L en der s h a l l g ive to B o n o w e r, �,1, :,f.
<br /> — without charge, un a�u�u�i accounting af G`c Funds,showing cre�i►s and debits to [he Funds and the purposc for which each j��_ ;1�
<br /> �I debit to the Funds was made.TUe Funds are pledged as additional security for all sums secured by this Security Instrument. ;,f, br ` 1:�-,
<br /> f, If the Funds held by I.ender exceed the amounts permitted to be held by applicable law,Lender shall account ro Borrower r� ..
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<br /> for the excess Funds in acr,ordance with tAe requirements of applicable law. If the amount of the Funds held by Lender at any �:
<br /> ' � time is not sufficient to pay the Escrow Items when due,Lender may so notify Sorrower in wdting, and, itt such case Bonower ,.
<br /> ,, shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than •��:
<br /> twelve monthly payments, at Lender's solediscretion. �r,���
<br /> " Upon payment in full of all sums secured by this Security Instrument. Lender shall promptly refund to Borrower any
<br /> , r � Funds lield by L.ender. If, under pazagraph 21,Lender shall acyutre or sell the Property,Lender,prior to[he acqv�isition or sale
<br /> `' of the Property, shall apply any Funds heW by Lendcr at the time of acquisition or sale as a credit against the sums secured by
<br /> „ chis Sccuriry Instrumenc.
<br /> �' 3. Applicetion of Paymenu.Unlessapplicable law provides otherwise, all payments received by Lender under paragraphs �_
<br /> 1 and 2 shall be applied: first, to any prepayment charges due under tl�e Note;second. to amounts payable under paragraph 2; ��
<br /> J third,to interest due; fourth,to principal due;and last.to any late charges due under the Note.
<br /> 4. Charges; Liens. Borrower shall pay all taxes,assessments, chnrgcs. fines and impositions attributable to the Property
<br /> �� which may attain priarity ovcr this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay __.
<br /> ' these obligations in the manner provided in paragraph 2,or if not paid in that manner, Bonower shall pay them on tlme directly
<br /> �, to the person owed payment.Bonower shdl promptly fumish to Lendcr all notices of amounts to be paid under this paragraph. — _�
<br /> If Borrower makes these payments directly,Bonvwer shall promptly furnish to Lender reccipts evidencing the payments.
<br /> � Borrower shall prompcly discharge any lien which has priority over this Securiry Instrument unless Bonower:(a)agrees in =-_
<br /> ' .] writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b)contests in good faith the lien " �ry
<br /> by, ar defends against enforcement of�he lien in, legal proceedings which in the L.ender's opinion operate to prevent the J.�
<br /> enforcement of the lien;or(c)secures from the holder of the lien an agreement satisfactory to I.ender subordinating the lien to :`� . . �l',�
<br /> � this Security Instrument. if I.ender determines that any part of the Property is subject to a lien which mny attain priority over . ,�
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<br /> this Security Instrument, Lender may sive Bonowcr a noticc identifying the lien. Bonower shall satisfy the lien or take one or ,�
<br /> more of the actions set forth above within 10 days of the giving of notice. ';'. '=�'�
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<br /> Form 3028 9I90 ''°".` ' , s'''
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