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<br /> , . ` TOGETHER WiTH atl the impmvemeats now or hereafter erected an the property.and all easements.appurteaances.and .4�; �•
<br /> � ' • � fuctures now or hereaftcr a part of the pmperty. All replacements and additions shaU also be covered by this Securiry ` 4`� ''
<br /> ��'- • �` Instrument.Ail of the foregoing is referred to in this Security Ins�ument as the"Property.' . .: `�
<br />- ` ••���'�:�`� BORROWER COVENANT5 that Borrower is lawful{y seised of the estate hereby conveyed and iu�s the right to grant and • _
<br /> ' � .�._.•-�-=' � convey th�Praperty ai►d that the Property is unencumbered, eacept for encumbrances of rec�rd. Borrower warrants and will ��.' � �. ` .
<br /> , �•-����t. . �" �
<br /> . . defend generally the title to the Property against all claims and demands,subject to any encuatbrances of record.
<br /> —. --~-_�- THIS SECURI't'Y INSTRUMENT cambines unifornt wvenanu for aat'sonal use and non-uniform covenants vrith limited _ _ ___
<br /> variations by jurisdiction to wnstitute a uniform security instnunent covering real p�operty. ' , '
<br /> - ` s UNIFURM COVENANTS. Borrower and Lender cove�ant and agree as foltaws: ; y ;.� � -_
<br /> ; . � , l. Payment o!Princlpat aad Interest; Prepayment and Late C6a�ges. Bomower shall pmmptly pay when dae the
<br /> ; - , � prindpaf of and interest on the deb!evidenced by the Note and any prepayment and late charges due under the Note. . `
<br /> � • . 2. E�mds for Taxes and insnrance. Subject to applicable taw ar to a wriuen waiver By i.ender, Borrower shall pay to ` �
<br /> �;,'; ' Lender on the day monthly payments are due�utder the Note,umi!the Note is paid in fiill,a surn("Funds")for:(a)yearly taxes � �-._
<br /> � � and assessmenu which may attain priority over this Security Instmment as a tien on the Property;(b)yearly teasehold payments ,,� °-�
<br /> , � � � or ground rents on the Property.if any:(c)Yearly hazard or property insurance premiums;(d)yeasly flood insurance premiums. ` "
<br /> ` °" � if any: (e)yearly mortgage insurance premiums. if any:and(fl any swns payable by Borro�rer to Lender, in accordance wiih ��� N�,.:�� .�W.
<br /> ,;� �.: -��'�` . tfze provisions of paragraph 8,in lieu of the payment of mortgage insutance premiums.These items are c�tled"Escrow Items." �..;�
<br /> � � Lender may. at any time, collect and hold Funds in an amount rtot to exceed the mauimum amount a lender for a federal[y `,.,4::��°
<br /> ° - related mortgage loan may require for Borrower's escrow account under the federai Real Fstate Settlement Procedures Act of ' ���;, _
<br /> ` 1974 as am�ded from qme to time. 12 U.S.G Section 2b01 et seq. ("RFSPA"),unless another law that applies to the Fuactc . �__
<br /> y;_ .:�, � "���:�.;,•,.,� seis a lesser amount. If so. Lender may,ai any time,callect and�old Funds in an amount Qot to exceed the lesser amount. �."'-__"
<br /> �.-.�' ,�.;>� ' Lender may estimate the amount of Funds due on the basis of cuc�nt data and reasonable estimates of expenditures of future �:",'�' ;�y,--
<br /> ;;" Escrow Items or otherwise in accordance with appGcabte law. r' r���
<br /> . '`��!�� The Funds shall be held in an institution whose deposits are insured by a federal agency. insnumentality, or eatity �. `e� -��;Y'
<br /> ':r�'; �. : .} ,.
<br /> �%x '; � (including Lender.if Lender is such an ins[itution)or in any Federal Home Loan Bank.Lender shall apply the Funds to pay the �a� '*--
<br /> __ .. . ,....�1��.,;_ -.,
<br /> � .. Escrow Items.i.Ender may aot charge Borrower for hald'mg and appiying the Funds.annually analyzing the escrow account,or �__5�__
<br /> - � ; verifying the Escrow Items,unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such ,- -----
<br /> s'i�y:. . ��
<br /> :i��,, a charge.However.Lender may require Borrower to pay a onc-time charge for an independeni real estate tax teporting service •
<br /> � <.i �-" `" � used by I.cnder in connection with this loan, unless applicabte law provides otheswise. Unless an agreement is made or .��:''""'J`-':
<br /> "� . . � applicable law requires interest to be paid, Lender shall not be required to pay Boaower any interest or eamings on the Funds. � • ., ,�:,
<br /> ��:'• �` • . � Borrower and l.ender may agree in writing,however,that interest shall be paid on the Funds. Lender shall give to Borrower. , - .
<br />- � . ' without charge. an annual accounting of the Funds, showing credits and debits to the Funds and the purpose for whicb each . ' . _ _`�
<br /> � � � debit to the Funds was made.The Funds are pledged as additional securinr for all sums secured by this Security Instrument. --_=
<br /> ,;`�•• � . If the Funds hetd hy i.ender exceed the amounts permitted to be hetd by applicable law, Lencler shall accoant to Borrower '� `
<br /> �� -� �- - - far the excess Funds in accordance with the requiremen�g of applicuble law. If the amount of the Punds hcld by i.ender at any `•°�; ���
<br /> ..�._
<br /> � . time is not suffccient ta pay the Escrow Items when due,Lender may so nutify Barrower in writing.and.in such ease Borcower �.�*�.._
<br /> � ' shaU pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in na more than , . =_'��
<br /> � • � twelve monthly paymenu,at Lcnder's sole discretion. • • �"
<br /> '': � ' • Upon payment in full of all sums secured by this Security Inslrument. Lender shall promptly refund to Borrower any . _-
<br /> r•' � ' Funds held by Lender.If.under paragraph 21. Lender shall acquire or sell the Property.Lender,prior to the acquisition or sale •.-
<br /> ` � . , of the Property, shall apply any Funds held by I.ender at the time of acquisition or sale as a credit against the sums secured by : _
<br /> '- ,. � ' '� this Security lnsirument. ; � --
<br /> ; �.;:; $ 3.Application of Payments.Unless applicable law provides othenvise.all paymenu rereived by Lender under paragraphs �
<br /> .r� .' �: 1 and 2 shall be applied: fi�st,ta any prepayment charges due under the Note: second.to amounts payable under paragraph 2; ���� , ' -
<br /> � . ��� • � third.to interest due:founh,to principa!due:and last,to any late charges due un der the Note. � _
<br /> ' , 4.Charges; I.iens. Borrower shall pay all ta�ces,assessmen�s. charges, fines and impasitions attributable to the Property • � . , •
<br /> which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay • -
<br /> '� . , - , these obligations in the manner provided in Qaragraph 2,or if nat paid in that manner,$orrower shall pay them on time directly � �
<br /> �• , to the person owed payment.Borrowcr shall prvmptly fumish to Lender all notices of amounts to bc paid under this paragraph. . �
<br /> ` � � If Borrower makes these payments directly.Borrower shall promptly fumish to l.ender receipts evidencing the payments. • - �
<br /> "' � ' Bonower shall promptly discharge any lien which has priority over this Security Irutrumcnt unless Borrower:(a)agrees in
<br /> : � � " writing to the payment of the obligation secured by the lien in a manncr acceptable to Lender:(b)wntesu in good faitb thc licn
<br /> .;s; '; �' by,or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the
<br /> -. enforcement of the lien: or(c)secures fram the holder of the lien an agreement satisfactory to Lender subordinating the lien to .
<br /> - � this Security lnsirument. If Lender determines that any part of the Property is subject ta a lien which may attain priority over
<br /> ; this Security lnstrument. Lender may give Banower a notice identifying the lien.Borrower shall satisfy the lien or take one or
<br /> . S more of the actions set farth above within 10 days of the giving of notice.
<br /> �' • Form 3028 9/90 � •
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