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<br /> TOGETHER WITH �II tt►e improvemen�s now ar hereaftcr crectcd on the propeny, and all cas�ements,appurtcnances,and � ,
<br /> , fixtures now or hereatter a part of the property.All replacemcn��and additions shell also bc covcrcd by this Sccurity InstrumenG
<br /> All of the forcgoing is refcrted to in this Sccuriry Instrumcnt as the"Property:'
<br /> �' SORROWER COVENANTS that Borrower is lawfuAy sciscd of Ihe cs�ate hcreby conveycd and has the right to grant nnd
<br /> convey the Property and that the Properry is unencumbered, exccpt for encumhrances of record. Barower werrants and wiU
<br /> defe�td gcnerally the title to Ihe Property against all claims and demands,subjcct to any cncumbrances uf rcc;ord.
<br /> 'I`I-AS SECURIT'Y INSTRUMENT combines uniform covenants for national use and nan-uniform covenants with limited -
<br /> variadons by jurisdiction to constitute a uniform security inswment covering real property. .��:� ,,. �" _
<br /> UNIFORM COVENANTS.Borrower and Lender covenant and agrec as foUows: :. -�'
<br /> i.Payment of Principal and Interest;Prepayment and Late Charges. Borrowcr shall prompdy pay whon duc thc �_-
<br /> ; principal of and interat on the debt evidenced by the Note su►d any prepayment and late charges due under the Note. —
<br /> Z.Funds for Taxes s�nd Insuraace. Subject to applicable law or to u written waiver by I.ender, Barrower shall pay to �: ��;. -�
<br /> 1 L.cndcr on thc day monthly paymcnu arc duc undcr thc Notc,unlil thc Notc is paid 'ui fuU,a sum("Funds")for:(a)ycarly texes .
<br /> and a.�.sessments which may ausin prioriry over this Socurity Instrument as a Uen on the Property;(b)yearly leasehold paymenu
<br /> or ground rents on thc ProperCy,if any: (c)ycarly hazerd or property insarance prcmiums:(d)yearly flood insurancc premiums,if
<br /> � any; (e)yearly mortgage insurance premiums,if any;and (�any sums payable by Borrower to Lender. in accordance with the , .
<br /> provisions of paragraph 8, in lieu of the payment of mortgage insurance premiums,These items are caUed "Escrow Items."
<br /> Lender may,at any tune,coUect and hold Funds in an amount not to cxceed the maximum amount a lender for a fcderaUy related
<br /> mortgage loan may require for Borrower's escrow account under ihe federal Real Estate Settlement Procedures Act of 1974 as
<br /> amended from time w time,12 U.S.C.Section 2601 et seq. ("RESPA"),unless another law thut applies co thc Funds sets a lesscr
<br /> � amoun�If so, L.ender may, at any time,wllect and hold Funds in an amount not to exceed the lesser amounG L.ender may . n�a
<br /> es6mate the amount of Funds due on the basis of current data and reasonable estimat�s of expenditures of future Escrow Items or y
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<br /> � othcrwise in accordancc with applicable law. ;y`�:�. ;_--
<br /> � The Funds shall be held in an insdtudon whose deposits are insured by a federal agency,instrumentality,or entiry(including :�4;�: ��
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<br /> _ , Lender,if Lender is such an instiwdon)or in any Federal Home Loan Bank. Lender shaU apply the Funds to pay the fiscrow ,;�,�� �;•,
<br /> Items.Lender may not charge Borrower for holding and applying the Funds,annually analyzing the escrow account,or verifying - :•
<br /> tfie E.scrow ltems,unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. �4�t;�_
<br /> � However, Lender ma require Borrower to pay a one-time charge far an independent real estate tax reporcing service used by r °'"
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<br /> Lender in connection with this loan,unless applicable law provides otherwise. Unless an agreement is made or apphcable law
<br /> � requira interest to be paid,L.ender shall not bc mquimd to pay Borrower any interest or earnings on ihe Funds. Borrower and �'
<br /> Lcnder may agree in writin8.ho�vever.that interest shall be paid on thc Funds.Lcnder shaU give to Borrower,without charge,an .� �;�.
<br /> annual accoundng of ihe Funds,showi�ng credits and debits to ihe Funds and the purpose for which each debit to the Funds was ��" ••"
<br /> mede.7tie Funds are pledged as additional security for all swns secured by this Security InsuumenG �_
<br /> I f Ihe Funds held by Lender excecd the amounts permiued to be held by applicable Iaw,Lender shall account to Borrower for _ _ -
<br /> the excess Funds in accordance with the requirements of applicable law.If the amount of the Funds held by Lender at any time is -, --
<br /> not sufficient to pay Ihe Escrow Items when due,Lender may so notify Borrower in wripng,and,in such case Borrower shall pay
<br /> � m L.ender the amount necessary to make up the deficiency. Boaower shall make up the deficiency in no more than twelve
<br /> monthly payments.at Lender's sole discretion. _
<br /> Upon payment in full of all sums secured by this Securiry Instrument,I.ender shaU promptly refund to Bonower any Funds -
<br /> heid by L.cnder. If,under paragraph 21,Lendcr shall acquirc or sell the Property,L.cndcr,prior to the acquisirion or sale of the {=-=
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<br /> . Propeny, shall apply any Funds held by L.endcr at the time of acquisition or sale as a credit against the sums secared by this z
<br /> Sccurity Instrumen� -
<br /> 3.Applicatfon of Payments. Unless applicable law provides othcrwise,all payments received by I.ender under paragraphs _-°T° - _
<br /> 1 end 2 shall be applied:Cirst,to any prepayment charges due under the Note;second, to amounts payable under paragraph 2;
<br /> i � third.lo intemst due;fourth,to principal duc;and last,to any latc charges duc under thc Notc. "°""-"
<br /> � 4.CMarges; Liens. Borrowcr shall pay all taxes, assessments. charges, fines and imposiuons attributabic to the Property .J��• � �•���
<br />- � which may attain priority over this Sccurity Insuument,and lcasehold payments or ground rents,if any.Borrower shall pay these '±°"`' � � �;;�' . .
<br />- � obligauons in the manner providcd in paragraph 2,or if not paid in that manner,Borrower shall pay ihem on dme direcdy tn the . . .--:'��"'."
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<br /> person owed paymcnG Borrower shall prompdy fumish to I.ender all noticcs of amounis to bc paid under this paragraph. If � ��••• .
<br /> - ' Sorrower makes these payments directly,Sorrower shall prompdy furnish to Lender receipts evidencing the payments. ,;:r;�.. ��'�`
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<br /> Borrower shall prompdy discharge any lien which has priority over this Sexurily Inswment unlcss Borrower: (a)agrees in I '";`-� , r:
<br /> - writing to the payment of the obliguuon secured by thc lien in a manner acceptable to Lender;(b)contests in gooci faith the lien �
<br /> ; by, or defends a�ainst enforcement of the Uen in, le�ul proceedin�s which in the L.ender's opinion operate to prevent the I .
<br /> ` en[oncment of thc lien;or(c)secures from the holder of thc licn an agrcement satisfactory to I.ender subordinating the Gen to � • •�
<br /> �, this Saurity TnstrumenG If L.endcr dctermines that any part of the Property is subject to a lien which may attain priority over this
<br /> Secunty InstrumenG Lcnder may give Bonowcr a noticc idcntifying thc licn.Borrowcr shall satisfy thc lien or takc onc or morc i
<br /> of thcactions sct fonh abovc within 10 days of thc gi�ing of noticc. �
<br /> " Form 3028 9i90
<br /> � •8R(NE)ta��s�.oi Pape2o�s iomais:
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