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<br />' TOGETHER WITH all the improvements now�or hereafter etected an the prapeny.�ad:�I casement..appu e�. d , � •: �° '
<br /> fixtures now or hereafter a part of the pmperty. Ali replacements and additions ,hall 31tio he cu�•eRYi by chis Security � . • , •��
<br />. Instrument.All of the foref;oing is referred to in this Seruriry Instrument as the"ProPert�.' � . �
<br />� 60RROWER COVENANTS that Borrower is lawfully�eised of the estate hemby rom eyed:uid has the ri�t to grsnt:tnd . ` � . �
<br /> convey the Property and that the Property is unencumbered. except for encumbrances uf rerord. Borrower warranu and wiU , -
<br /> defend generaliy the tide[o the Property aga'snst:ill claims and demands,subject to:u�y encumbrance+of recnrd. • , � � ¢,
<br /> 1'HIS SECURITY INSTRUMENT combines uniform coeenants for nationai use and rti�n-unifittm covenants with limitc� � _ _
<br /> j . ��x,_.,.,-. -
<br />__� variations by jurisdiction to constitute a uniform securiry instrument covering real�tropeny. , •. ;y:�`'== —
<br /> UNiFORM COVENANTS. Borrower and Lender covenant and agree as follows: r � �
<br />�..� 1. Paymeat of Principal and iaterest; Prepay�ment and Late Charges. Borro��er ,hali promptiy pay when due t!►e -,�,--°--� � _--_
<br /> : � principal of and interest on the debi evidenced by the Note and an}•prepayment and late charges due under the Note. .
<br /> ;� 2. Fuads for Taxes and Iasnra�ce. Subject to applicabte law or[o a written waiver by Lender. Borrawer shall pay to . : . '. 4. � .��
<br /> i,ender on the day monthly payments are due under the P[ote.until the Note is paid in fuU,a sum("Funds"1 for:(al yeariy ta�tes :;.F� . •' - ':�
<br /> } and assessir=enu which may attain prinrity over this Secvrity Instrument as a lien on the Property: (b1 yearly leasehold payments �� . ��;"'�`'�''`--.�•••
<br /> `� or ground rertu on the Prop�rty,if aciy;(c>yearly hazard or property insurance premiums;(d)yrarly Roud insurance premiums, l=�.o.,x:���_--�'—
<br /> ,�Q3�s�a f
<br /> -^z if any: (e)}-eariy mortgage insurance pmmiums. if any; and(t�any sums payable by Borrower to Lender. in accardance With _
<br /> "' ' the provisic:�of paragraph 8,in lieu of the payment of mortgage insurance premiums.These items are called"Bscrow Items.° •��""==�''�-_�".°'s�;
<br /> � .� Lender may, at any time, collecc and hold Funds in aa amount not to excced the manimun►amount a lender for a federally _ , �.
<br /> .; related mongage loan may require for Borrower's escmw acrnunt under the federal Real Estate Settlement Proeedures Act of `�'• .
<br /> } a974 as amended from time to time, 12 U.S.C. Section 260t et seq. ("RESPA"), uriless another law that applies to the Funds ��`T''�"'J`�`."`__
<br /> , sets a lesser amount. [f so, Lender may, at any time. rnllect and hold Funds in an amount nat ta exceed the lesser amount. • ��• �,���
<br /> � Lender mav �timate the amount of Funds dne on tAe 6asis of current data and reasonable estimates of expenditures of future � � _ � --"��-�-
<br /> :i Escrow[te:r�r*otherwise in accordance with applicable law. ` ;. ��-
<br />' •_� The L-'��cs shall be held in an institurion whose deposiu are irtsured by a fedeial agency, instmmentality, or entity :.�� w.�:�,:a.�.`;.'.
<br /> • `�° --;-,�.,r.•;"-
<br /> �•.< (includinD L�ier.if Len�c-r is such an institudon)or in any Federal Home Loan Bank. Lender shall apply[he Funds to pay the `+��y:rr_# . .,�.-•
<br /> ,�,� Escrow Itea-�. txnder ma��nflt charge Borrower for holding and applying the Funds,annually analyzing the escrow account,ar , .' ��` •.
<br /> ; verifying ti>_-��scrow Items,unless Lender pays Boaower interest on the Funds and applicable law pernvu Lender to make such -�
<br /> _ ' a charge. t-Fewever. I.ender may require Borrower to pay a one-time charge for an independen[real estate tax reporting service '' _._
<br />`"'y �sed bv i.ender in connection with this loan, unless applicable law provides otherwise. Ualess an agreement is made or "''T=�-
<br /> _ :r.pplicable law requires interest to be paid,Lender s�all not be required to pay Borrower any interest or earnings on the Funds. _ .; "� �
<br /> • ?orrower and Lender may agree in writing,howe��.t6at interest shall be paid on the Funds. Lender shall�re to Borrower, *. f'_•
<br /> ` without ci�.3e, an annuaE accounting of the Fun�s. showing credits and debits to the Funds and the purpo�'or which each .: ��. '�
<br /> debit to the i�.;�nds was made.The Funds 2.-�e pledged as additional security for all sums secured by this 5ecuriry Instrurrtent_ :"�1�;,_-. r:�
<br /> If the�F;mds held by I,ender excerd the amounts permitted to 6e held by appficable law,Lender shall account to Bon�awer
<br /> '��-±. ..��.
<br /> � for the excess Funds in accordance with[he requiremenu of applica 6 le law. I f t he amount o f t he Fun d s he l d by L e n d e r a t a n y �•� : i - '�'•
<br /> ' qme is not sufticient to pay the Escrow Items when due.I.ender ma�so notify Bormwer in writing,and,in such case Borrower 3+��+�i'J�� .____
<br /> � •�'���;F :� ..." _
<br /> -- shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than i;��:���:�. -�•=
<br /> 4 twelve monthly paymenu,at Lercder's sole discretioa - =�i`�� i° ���. '=�%�
<br /> " U p on p a yment in full of all sums secured b y this Securi ty Instrument. Lender shall prompdy refund to Borrower any � �'y''`':"1�•�'��
<br /> ' f __ eLC'£=y.'
<br /> • { Funds held by Lender.If.under paragraph 21,Lender shall acquire or sell the Propeny.Lender,prior to the zoqieisition or sale _ �
<br /> � � '" of the Property. shall apply any Funds hetd by Lender at the time of acquisition or sale as a cre�it against u���sms seaued by � ='�' �
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<br /> ti�is Security Instrument. ..,,�""�`'95�`�'�,,',r'",
<br />`•.,:; 3.A firation of Pa tnenis.Unless a licable law rovides otherwise,all a ments retei�•ed b Lender under hs �° � -T--�-
<br /> PP Y PP P P Y Y P�P .,"`�'=� --"_�";�
<br /> 1 and 2 sr.=:1 be appGed: first,to any prepayment charges due ur,i�.the Note; seconcl.to ana�u payable under parage�fz 2: '��'� �r?%���f�':
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<br /> third,to interest due:fourth.�.o principal due:and last.to any lata d��Des due u�:'ar the Note. .� , '�" --_-
<br /> ���-;: d,Charges;I.iens.Borrower shall pay all taxes, assessments,charges,fi���nd impositions attributable to the Property <,;.. _;;,:�:�
<br /> . � which may attain priority over this Security Inswment,and lcasehold paymer:s or ground reu;s_ if any. Borrawer shall pay �`'. �. ' � �� ^��'
<br /> �. .,, ..: ._ �,- �
<br /> � t: thcse obligations in the manner provided in paragraph 2.or if not paid in that manner.Borrouer�;ltall pay them on time directly �, � F:`:'•
<br /> to the on owed a ment.Borrower shaU rom tl fumish to Lender all notices of amount�.ru be paid under this paragraph. � �
<br /> P� P Y P P Y �:,,.;:.�.�...�_..�i'i'
<br /> ' If Bonower makes these paymenu directly.Borrower shall prompdy fumish to Lender receipu��idencing the payments. "�'"""'r��°�::�
<br /> Borrower shall promptly discharge any lien which has priority over this Security Insttument unless Boms�ver:(a)agrees in - -•:.�-=�
<br /> � writing to the payment of the obligation secured by�r:tien in a manner acceptable to Lender;(b)contasts in goad faith the lien � � �:----
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<br /> by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the - - +�:s� _
<br /> enforsement of the lien;or(c)secwes from the holder of the lic�an agreement satisfactory to Lender subordinating the lien to =
<br /> this Security (nstrument. If Lender detemunes that any patt of th:Property is subject to a lien which may attain priority over �
<br /> this Security instrument.Lender may give Borrower a notice identifying the lien. Borrower shal! satisfy the lien or take one or � ��-.
<br /> —�„r _ ,
<br /> more of the actions set forth above within 10 days of the giving of notice. _--
<br /> . ��,.,' .. . .. � .
<br /> Form 3028 9/90 .r°-•-� ,�"i. .�°,___ '—
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