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<br /> T(K+ETHER WiTH ail thc improvcments now or herc.�ftcr crectcd on thc property,und ull cu,emcn��,appuncnwia:s,und � -_
<br /> fixwres now or herc,�ftcr a part of thc psoperty.All rcplaccmenis nrtd edditians shail also bc covcrcd by this Scc:urity Inyuumcn� �
<br /> All of the forcgoing is refeacd to in this Security Instrumcnt as thc"Property." _
<br /> � BORROWER COVENAIVTS thet Borrowcr is Iswfully sciscd of the c.4tttta hcreby convcycd and huc thc right to gr�nt and � _
<br /> convcy thc Property and that thc Property is unencumbcred, except for encumbmnceti of recard. Bonawcr warron�s and will ,I �
<br /> I defend generally the tiQe to the Property against all claims and demands,subject to any encumbrances of rec:ord. _
<br /> THIS SECURII'Y INSTRUMENT combines uniform covenants fur nadanal use end nan-uniform cavenants wiU� limited I `
<br /> variations by jurisdicaon to consdtutca uniform sccurity insuument cavcring rcal property. ' �,�,.�
<br /> UNIFORM COVENANTS.Borrowcr and I.cndcr covcnant and pgrec as follows: '�L'°"=�--
<br /> 1.Payment of Principal and Interest;Prepayment and Late Charges. Bonowcr shall prompdy pay when duc thc
<br /> principal of and intemst on the debt evidenced by the Note and any prepayment and late charges due under the Nou:.
<br /> 2.Funds for Taxes and Insurance. Subject w applicable law or to a wriuen waiver by L.ender, Bonowa shall pay to �`,',;�,-_•�
<br /> L,cnder on the day monthly paymenis arc duc undcr the Note,until thc Note is paid in FuU,a sum("Funds'7 for. (e)yearly tnxes
<br /> and assessments which may at4vn priority over this Security Instrumcnt as a ticn on thc Propecty;(b)yearly lcaschold paymcnts
<br /> or ground rents on ihe Property,if any: (c)yearly hazard or property insarance prcmiums;(d)yearly flood insuranceprcmiums,if I
<br /> any; (e) ycarly mortgage insurance prcmiums,if any;and (�any sums payable by Borrower to Lendcr,in accordance with thc
<br /> provisions of parugraph 8, in lieu of the payment of mortgage insurance premiums. These items tue caUed "Fscrow Items."
<br /> Lender may,at any time,coUect and hold Funds in an amount not w exceed the maximum amount a lender for a federally related „
<br /> mortga�e loan may require for Borrower's escrow nccount under the federal Real Estate Setilement Procedures Act of 1974 as
<br /> amended from time to time, 12 U.S.C. Sccdon 2601 d seq. ("RESPA"),unless anothcr law that appGes to ihe Funds scts a lcsscr ,
<br /> �` amoun�. If so,Lender may, at any time,coUect and hold Funds in an amount not to exceed the lesser amoun4 I..et►der may :�:�-
<br /> estimate the amount of Funds duc on the basis of c�rrent data and reasonablc cstimates of expenditures of fuuuc Escrow Items or
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<br /> � otherwisc in accordance with applicable law. '�
<br /> The Funds shall be held in an institudon whose deposits are insured by a federal agency,instrumentality,or enuty(including ���'�
<br /> = Lcndcr, if Lender is such en inst�iution)or in eny Federal Home Loan Bank. Lender shall apply ihe Funds to pay the Escrow _..�'�,�_ . ;
<br /> Items.Lender may not charge Borrower for holding and applying the Funds,annually analyzing the escrow accowW.or verifying ��. � .-s��
<br /> the Fscrow Items,unless Lender pays Borrower interest on the Funds and applicable Iaw pemiits Lender to make such a charge. • . �t�;
<br /> However,L.ender may require Borrower to pay a one-timc charge for an indepcndent real estate tax rcporting service uscd by ; ^�.
<br /> Lender in connection with Uus loan,unless applicable law provides olherwise.Unless an agreement is made or epplicable law - • :`
<br /> requires interest to be paid.Lender shall not be required ta pay Borrowcr any interest or camings on ihe Funds.Borrowcr and � ;'. `t�
<br /> Lender may agrec in writing,howevcr,that interest shaU be paid on the Funds.Lender shall give to Borrower,without chargc,an `' �. {.,:
<br /> annual aceounting of the Funds,showing credits and debits to the Funds and the purpose for which each debit to�he Funds was �:� ^
<br /> made.The Funds are pledged as addiHonal security for all sums secured by this Security InstrumenL T=^
<br /> If the Funds hcld by L.ender cxcecd thc amounts permiued to be held by applicable law,Lcnder shall account w Bocrower for ,�,„Y—_
<br /> the excess Funds in accordance with ehe requirements of applicable law.If the amount of the Funds held by Lender at eny time is ';;��,-
<br /> ' not sufficient w pay the Escmw Items whcn due,Lender may so notify Boaower in writing,and,in such case Borrower shall pay ;��
<br /> to Lender the amount necessary to make up the def7ciency. Borrower shall make up the de6ciency in no more then cwclve ���
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<br /> monthly payments,at L.cndcr's solc discrcdon. _�;_�
<br /> Upon payment in full of aU sums secured by this Security Instrumen�I.ender shall prompdy refund to Borrower any Funds �_.
<br /> . hcld by I.endcr. If,under paragraph 21,Lcnder shall acquirc or sell thc Praperty.Lendcr,prior to thc acquisition or sale of thc ��'����-�`�`
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<br /> Property,shall apply any Funds hcld by Lender at the timc of acquisidon or sale as a credit against the sums sccwed by this �"�':
<br /> �" Security Instr�menG -f����
<br /> 3.Application of Payments. Unless applicable law provides otherwise,all paymcnts received by Lender under para�raphs '��—=_--
<br /> h 2: '`,��
<br /> 1 and 2 shall be applied: first,to any prepayment charges due under the Note;second,to amounts payable under paragrap - ---
<br /> third,to interest due;fourth.to principal due;and 1ast,to any late charges due under the Note. �'�
<br /> 4.Charges;Ltens. Borrowcr shall pay all taxcs,assessmcnts, chargcs, fines and imposiaons aaributablc ro thc Property "`������. �.�,,,
<br /> which may aqain paority over this Security Instrument,and leasehold payments or ground rents,if any.Borrowershall pay these ��M1• •"•``•e• �
<br /> obligations in the manncr provided in paragraph 2,or if not paid in that manner,Bonowcr shall pay thcm on timc dimctly to thc �'���-,y �
<br /> person owed paymcnt. Borrowcr shall prompdy furnish to Lcndcr all notices of amounts to bc paid undcr this paragreph. If � � _
<br /> - Borrower makcs these paymcnts dircctly,Borrower shall promptly fumish to Lendcr rcceipts evidencing the paymcnts.
<br /> - Borrower shal[prompdy dischu�e any lien which has priority over this Security Instrument unless Borrowcr, (a)agrees in i ••
<br />- wripn�to the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)concests in good faith the lien �
<br /> � by, or defends against enforcement of the lien in, Iegal proceeclings which in the Lender's opinion operate w prevent the I
<br />_ i cnforcement of the lien;or(c) sccures from thc holdcr of thc lien an agrccmcnt satisfuctory w L.ender subordinating ihc lien to i
<br /> � this Securiry InstrumenG If Lender determines that any part of the Propeny is subject to a lien which muy attain priority over this
<br /> � Security Instrument, Lender may give $orrower a notice identifying the lien. Borrower shall sutisfy ihe lien or take one or more �
<br /> � of ihc actions set forth abovc within 10 days of thc giving of noticc.
<br /> ! Form 3028 9/90
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