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<br /> Tt)GfiTHER WITH all ihe uoprovements now or hereafter erecced on the property. and a1� easen►ents- , '�'
<br /> a apPurtenanas. and Fixtures now or hereafter a part af the propercY. A11 rePlacements and additions shail also be rnvered � . ,". •:r;_.
<br /> by this Security Instruuten t. A l l o f t l t e f o r e g o i n g i s r e f e r r e d t o i n this S�s�ri t Y Instru-"�ent ac the"PrcpertY." �
<br /> &�xxow�s Cov��.��rs that Borrower is lawfully seised of the estate hereby conveyed and has th2 right to grant an d
<br /> j cc�nvey the Propeny and tdat the Prapercy is aneacwmbcred. exoept far encumbrances of record. Borrower wananu and •
<br /> �. 1 witl defend generally the titte to the Prop�ty ag.a'snst a11 cfa�n►s az►d de�nds•subject to any encumbr�mces of recard. �.� ., , �� �_
<br /> .� Tf►ts Secrwn I�s�xi:�texr combines uniform rnvenants for national use and non-uniform covenants with Iimieed , � <.
<br /> . � varialians by jurisdiction w rnnsriNte a uniform security insmiment covering real PTaPertY• ., _ , • -
<br />_� � U�"[FOR�t COVEti.�.vrs. Borrower and Lender covenant andagree as follows: p Y p y
<br />- - 1, P a y[u r.s�t o f P r i n s t p a! F+n d l n t w'�s t+ P r e Pa y ment and Late Charges. Borrower shall prom d a when due —
<br /> the principal of and interest an Phe debt evideuoed by the Note and anY P�Yment and lat.e ci�arges due under t he Note. , ��
<br /> Z. Fimds for Taxes and Insuranee-Subject t,o applicable law or to a wnuen waiver by Lender,Borrower shall Pay : z:`'
<br /> to I,ender on the day monthty payments are due under the Nose, nntil the Note is paid in full, a sum("Funds")for: (a) , _ .
<br /> yearly taxes and assessments whi c h may aitain priori ty o v e r t h i s S e c a v r a ty I n s t r u m e a�t a s a l i e n oa the Pro p e r t y:(b)yearly . - . , '�;.
<br /> msurance premiu�:!d)YeaT1Y �',_ ,�
<br /> ' leasehold payments or ground rents on the Froperty, if az►y;(c)YearlY harard or praperty' we b Hoirowes - - �-` `�-
<br /> tlood insurance premiums, if any;(e)Yearly�ortgage insurance premiums,if any;and lfl any sams PaYahi� y
<br /> b g, in l�eu af the a ent of mort e insw�nce emiums• � � .
<br /> • to L.ender. in accordance with ttie provisians of ParagraP P Ym 8�S Pr • ��
<br /> These items are ratted"Escronr It�s."Leuder may, at any time,collect and hold Funds in tm ar�ouQt noi to exceed the ';�'�,,,(`:,--,� r.., _
<br /> ma�cimum amount a lender for a federaily related mortgage loan may require for �virower's escrow acocl�.�ander t6e �:���,. ;,:
<br /> ��:�.,,.;� . . .
<br /> federal [teal Fstate Settlement Procedures Act of 19�4 as annended from tima to time, 12 U.S.C. § �5fl1 et seq. •_,•.�,... . • ,._;� :.•. ,�.
<br /> ;:<<k�;�':;, .- �-
<br /> � �< ("RFSPA").unl�ss another law d�atappHes to We F�d�s.,ts a tesser amo�mt If so,Le.nder may,at aay�,asileci and , , ..,�� ,-i�,.; .
<br /> n Le ���:�. �.,`:
<br /> �.�< hold Funds in an amount not w exo�d the tes.rer a�.��t L.encler m3y emmate t�e amount of Fands c��Q�L�:e basis uf ` ,:�;,��,.
<br /> current data an3 reasonable estinnates of eacpea'�i:�.-�of future Escrow Tte�s or ot6�swise in a�ordanc�a-iCa appiicable ' :. ;{ �:�.
<br /> er � ,'�<< r -
<br /> law. '��'"��`
<br /> mcmm+�y31i OI Ciltl
<br /> 'I'he Fands shall be held in an insatutaaa�'L��deposits are insured by a fe�aral agency,� i3', �3' • �» ��,;�,,f•-'`.
<br /> ' (including I.ender.if Lender is suc6 an msri�ition)ar in a�y Federal Home Loan Ban�k. Lendea shall apply the Fimds to '���P��r:•-=• -
<br /> pay We Escrow Items. Ixnder may nat ctu�ge Borrower for holding and aPP1F�8 the Funds, annually analyiing the '',;.�t, � ' :T.r
<br />-- escrow account. or verifying the Escrow Hc�ns, �mtess Lender psys Hoaower mtaest an the F�ds and applicabte law _T .>•.._-��'a�r: : �
<br />� permits Lender to make suc6 a charge. Hlowever, Lender may require Borrowea to pay a �sae-time charSe for an , `�`��`�' _��+
<br /> independent real estate tax reportimB service ased by Lender in connecuon with this loan,�mless spplicxble law provides � .�.
<br /> • otherw�se. Untess an ageement u made or applicxble law requires interest to be paid,1..ender shall not be reqnired to pay .-
<br /> t ° '
<br /> in writing,however,tbat interest shall be .. �
<br /> Bonower any interest or eamings oa the Fands.Borrower and Lender may a8ree�
<br /> - patd o
<br /> n the Fands.Lender shell give to Borrower.withont charge,an annnal accot�ndn of tbe Funds,showing credits and �.. �,4 . : '°"�•.,'~a-.
<br /> debits to tLie Funds and the purpase for�avhic6 each detrit to the Funds was made. e Funds are pledged as additional ":;. . � • '"�,
<br /> security for all sums secured by this Securtit��Instrument �}_ :ti : .
<br /> I f t h e F a n d s h e l d b y Lendes excee�°�e amounts permiued to be held by appllcable law, Lendcx sf�aU a000unt to '•�5��:;. �<s f' �
<br /> B orrower for the excess Fands en accord�:e witL 'the re4nire�°ents o€applicable law.If the amount of the Fun d s he l d by . n; ., �.; �
<br /> . Lender at any time is not sofficient do pa}�e Essrorv It�rns when dnz,I.ender may so notify Borrower in v.riing,an d,i n ; _
<br /> � �,. such case Borrower shall pay to I.ead� €h� amoumt nuessary to make up the def�ciency. BoaoRer sy2:1�ake up We �:.�a�d;.•�'• '.:,.i :. �
<br /> � °%� def ciency in no more than ewetve mant!;5y p�yme,nts.at Leader's sole d�scxetion. •
<br /> .<t � Upon PaYmenc in fuil of all s^r'�.:.s seraued by this Security InsVument, Lend�shall prompSy refimd to Borrower "`" �,i,,e;,'. —
<br /> ,�_ I.ender, prlor to the '�"."`• .r �,'>
<br /> • any Fands held by Lender. If. c�.:a �a^�raph 21. Lender shall acqaire or sell the Prvp�ty,. ,
<br /> �• acquinuon or sale of We Fra��Y. s�ll aPP1Y�Y Funds held by Lender at the time of acqws�uon or sale as a cxedit �"'= � ;.. ' �=
<br /> � � against the sums secured[sy�S�arity Instnm�ent. - ,',��•' `:-.
<br /> 3.A�DdcaB�na of Fap�eats. L"�less applicable law provides otherwise, all Payments received by Lender un� t f -- -
<br /> • Paragrapbs 1 and 2 shali be appliec�: fi:�t, to anY prepay�eat charges due unde�the Note: seoond, w amounts payab e ��=
<br /> �� `.�; under ParaBra�►�2:tl�iird.to interest��e:fourth,to princ�pal due:and last,to any late charges a8ue ander the Note. —�'". _
<br /> r
<br /> ''' 4.C[ta�*�s; Lieas. Bonower�all Pay all taxes,assessments. charges,fines and i�positions ariribntable W the ,�'�"`�-
<br /> as .�
<br /> property wiucY� may a*t��iflri�Y.o1er e h is Secamry I n s u u m e n t, a n d t e a s e h o l d p a y m e n t s o r g ro u n d r e n t s. i f a n y. ��:.=.--=---
<br /> Bonower shall pay t�ese c"_���..�ons m t�ee nanner yrrova�d in ParagraPh 2,or if not paid in tbat manner, Barrower shall _ __ __ _
<br /> pay them on tiaue cE�reccly e��^e per^�c�vwed payment. Sorrower shall prompfly fruuish to Lender�no��O Lender ' ' �� �"
<br /> w i�e pa�d uuder this paragr�p�. If Bc�-�w�makes these payments direcdy, Borrower shzli Gr�P Y 'y i..,...,
<br /> �•,- recel ts evcdencing the paymenas. � ,- =r�`���;. -�
<br /> p Borrower sball promptLy diss�iasge.�..y lien wiuch has prionry over this Securlty�..rrr�zut unless Bonower: (a) ,",:c,_ _
<br /> agees in writing to the gay�n..�t of the ab�gadon secured by the li�in a manner aoceptabte to Lenda; (b)contests in �•°'P-
<br /> good faith the lien by. or dcfends against eaforcement of the lien in, leP,al procYZdings which in the Lender's cspinion �? `�
<br /> operate to prevent the enf'orcement of the lien; or (c) secures from the bold�cf the lien aa ageEment satisfaetory to �.,��� '`
<br /> Lender subordinating the liea to t�is Security Insuument. If Len�r d:termines t�t any part of the Property is subject to a r ,�,
<br /> .. lien which may attain prlority over this Secvrity Instroment, Le�d��ay give Borrower a notice identifying We lten.
<br /> .�'•-
<br /> Borrower sl�aall sa6sfy 1he lien or ta'�e one or more of the aarons set for�h above within 10 days of tl�e giving of nodce. -F,�pqpg���?;•A�;
<br /> S.gia�rd or Yraperty Ir►SUSance. Borrower s�il keEp the improveme�ts noa existing or hereafter erected on the ���-
<br /> Property insured agr�ast loss by fue. bazards included within t�e term "Eat:nde4 coverage" and any oth�r 6azards, �-,;,,..,,.. �.. •—
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<br /> • fc�nn 3028 9/90(page 2 f 1 �:�.i��i��-'`�l��i^""s
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