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<br /> j 'tU�L"1'tik.K �VI'TH all the improvements now or hereafter erected on the property, and all easements, y_
<br /> i appurtenances,and tixtures now or hereafter a part of the property. All replacements and additions Rhall alsc�be covered
<br /> I by this Security InAtrument.All of the foregoing is referred to in thieSecurity Instrument as the"Prap�rty." � `,.
<br /> I BOELROWER COWENANTS that Borrower ia law4ully seised of the estate hereby conveyed and hae the right to
<br /> grant and convey the Property and that the Property is unencumbered. except for encumbrances of record. Borrower(p "
<br /> I warrants and will defend generaUy the title to the Property agninat ail clai ma and demands,subject to any encumbrancesQp . �4_
<br /> r�f recotd.
<br /> "TKIS S�CURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with � _
<br /> limited variations by jurisdiction to constitute a unifarm security instrument covering real property. r —
<br /> � UNIFORM COVENANTS.Borrower and Lender covenantandagreeas follows: .
<br /> 1.Paymeat of Principal and Interest;Prepayment and Lato Ch�rges. Borrower shall promptly pay when due � `
<br /> the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. �' ��,y� .; ,.;
<br /> 2. Funds for Taxes and Iasurance. Subject to applicable law or to a written waiver by Lendet, Borrower shall � ::{'�:r
<br /> pay to Lender on the day monthly payments are due under the Note,until the Note is paid in full,a sum ("Funds")4or. :,.r,���'�,_
<br /> (a)yearly taxes and assessments ahich may attain priority over this Security Instrument as a lien on the Property; (b) , :Q;'—'�� -
<br /> yearly leasehold payments or ground rents on the Property, if any;(c) yearly haxard or property insurance premiums; ,
<br /> (d)yearly tlood insurance premiums,it any; (e)yearly mortgage ineurance premiums, if any; and (f) any sums payable
<br /> by Borrower to Lender,in accordance with the proviaions of paragraph 8,in lieu of the payment of mortgage inaurance ?'��'''
<br /> premiums.These items are called"Escrow Items."L,ender may,at any time,collr,ct and hold Funds in an amount not
<br /> to exceed the maximum amount a lender for a tederally related mortgago loan may require for Bonower's escrow �f
<br /> account under the federal Real Fstate Settlement Procedures Act ot 1974 as amended itom time to time, 12 U.S.G � —
<br /> Section 2601 et seq. ("RESPA"),unless another law that applies to the Punds sets a lesser amount.If so,Lender may,
<br /> at any time,collect and hold Funds in an amount not to exceed the lesser amount.I.ender may estimate the am�unt of ,
<br /> Funds due on the basis of cunent data and reasonable estimates of expenditures of future Escrow Items or otherwise in
<br /> ` accordance with applicable law. t:
<br /> The Funds shall be held in an institution whose deposits are i nsured by a federal agency, instrumentality,or entity
<br /> � (including L.ender,if I.ender is such an institution)or in any Federal Home Loan Bank.Lenderahall apply the Funds to „ .��
<br /> �• pay the Escrow Items. I.ender may not charge Sorrower for holding and applying the Funds, annually analyzing the --
<br /> escrow account,or verifyin�the Fscrow Items,unless I.ender pays Bonower inurest on the Funds and applicable law �-,
<br /> x permits Lender to make such a charge. However, Lender may require Borrower to pay a one-time charge for an , .,�:. ;µ�_�
<br /> independent real estate tax reporting service used by Lender i n connection with this loan,unle.ss applicable law provid� ;,' .� ,';�,,;,,
<br /> otherwise.Unless an agreement is made or applicable law requires interest to be paid,Lender shall not be required to `�" .,�".,
<br /> _-; pay Borrowcr auy iCitciuii Oi�dit11i3go 8A 2}1C Fi3ilt�.;.BOftOSY�t 9R�LCS1�Ef!Tlfly flgf?+' in wT!tin�, however, that interest =.. '_��� ;•�-�
<br /> ; shall be paid on the Funds. Lender shall give to Bortower,withoutcharge,an annual accounting of the Punds,ahowing , ��
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<br /> credita and debits to the Funds and the purpose for which exch debit to the Funds was made. The Funds are pledged as ��., ,.�,Y�,
<br /> ' additional security for all sums secured by this Security Instrument. =• '�'
<br /> If the Funds held by Lender exceed the amounts permitted to be held by applicable law,I.ender shall account to • •�',• ��}, �
<br /> " Borrower for the excess Funds in accordance with the requirementa of applicable law. If the amount of the Funds held , %, '�; ;.
<br /> by Lender at any time ia not aufficient to pay the Escrow Itema when due, Lender may so notify Borrower in writing, ,, �"•:.
<br /> • and� in such case Borrower shall pay to Lender the amount naessery to make up th�deficiency. Borrower ahall make .
<br /> up the deficiency in no mora than twelve monthly paym�nts,at I.ender's sole discretion. _ _�
<br /> Upon payment in full of all sums secured by this SecurityInstrument,Lender shall promptly refund to Borrowec —�---
<br /> any Funds held by Lender. If, under paragraph 21, Lender shall acquire or sell the Property. Lender, prior to the "`��`-
<br /> . acquisition or sale of the Property, shall apply any Funds held by Lender at the time of acquisition or eale as a ccedit .�.t�"Y
<br /> against the sums secured by this Security Instrument.
<br /> 3. Applicstton of Payments. Unless applicable law provides otherw'sso, all payments received by Lender under _=�
<br /> . paragraphs 1 and 2 shall be applied: first,to any prepayment charges due under the Note;se.�;ond,to amounts payable -,A,�,,_ �
<br /> - under paragrap h 2;t hir d,to interest due;four t h,to principa l d u e;a n d l a st,to an y late char ges duo under the Note. ______ _
<br /> ' 4. Charges; Liens. Borrower shall pay all taxes, asse�ssments,charges,fines and impositions attributable to the -__—.
<br /> 'q. Property which may attain priority over this Security Instrument,and leasehold payments or ground rents, if any. ____ __ -
<br /> ' Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower � ;r�T�_�—�°__
<br /> shall pay them on time directly to the person owed payment.Borrower shall promptly furnis. to Lender all notices of •�:�;;:�
<br /> amounts to t+o paid under this paragraph.If Borrower makes these payments directly, Borrower shall promptly furnieh •�i�� �- -,,;�
<br /> to Lender receipts evidenci ng the payments. .
<br /> Borrower shall promptly discharge any lien which has priori ty over this Security Instrurnent unless Borrower: (a) ��==`�'��'�"
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<br /> agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b)conte.gts in , ``�•^�,_�;.;
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<br /> good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion .r• -��� � ���
<br /> operate to prevent the enforcement of the lien;or (c) secures from the holder of the lien an agreement satisfactory to ;s: �
<br /> Lender subordinating the lien to this Security Instrument.If Lender determines that any part of the Property is subject „ .
<br /> to a lien which may attain priority over this Security Instrument,Lender may give Borrower a notice identifying the
<br /> , lien.Borrower shall satisfy the lien or take one or more of the actions set forth ubove within 10 days of the giving of
<br /> notice. �
<br /> � � � , Form 3026 9/90
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<br /> ��6RINEl�o:+s�.o+ P.o. x a�e Imtle�s:
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