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<br /> � � � 'E'OGETHER WITN atl the impmvements now or hereaRer erected on the propertY•and all easements,appurtenances,and '< • ,
<br /> ` '� fixwres now or hereafter a part of the pmpercy. All replacements and additians shall also be covered hy this Security , .-,; ,
<br /> '�,', " � . . > Instrument.AIl of the foregoing is referced to in this Serurity Insmiment as the"Pcopertp." �.,;�,.`, � -,
<br /> ' �' BORROVYER COVFNAPiTS that Burcowtr is lawfully seised of the estate hereby conveye�and bas the right to grant and � ; < ;°�
<br />-. ' � `�--.` c o nv e y the Pro pe r t y and that the Property is unencumbered.except for eacumbrances of record. Bomnwer warrants an d w i l l ,..'. ,',.;, .r°•Z�`� _�;•,
<br /> - � defend genetally the title to the Property against all claims and d e m a n d s,su bject ta any en c u m b r a n ce s o f n x o r d. .
<br /> '�s THIS SECURITY INSTRUMENT combines uniform covenants for national use:uid non-uniform covenants with limited ,
<br /> � --�sT`--;"=�- variations by jurisdiction to constitute a uniform security instnunent covering real propenY• < `�° ,, •„�`���
<br /> UNIFORM COVENANTS.Borrower and Lender covenant and agree as follows: ,�4 •:, ` � .
<br /> , ,. ' 1. Paymeni of i'rincipat and Interest; Prepayment and Late C6arges. Borrower sdall promptly pay when due the � �J� •'k��..n•'• � ,
<br /> - � . • � principal of and'enterest on the debt evideuced by the Nate and any prepayment and late charges due undzr the Note. � �
<br /> - :, . ---- :�'. '- 3. Faads for Tages and Iasurance.Sabjed to applicable law or to a written waiver by Lender.Borrower s6ali pay to �, _ _ _
<br /> � �,�;;�' Ixnder on the day monthly payments are due under the Note,until the Note is paid in fuU,a sum("Funds")for.(a)yearly taxes _ 6
<br /> •'� �,• and assessments wluch may attain priority over this Security Instrument as a lien oa the Property:(b)Year1Y leasehold payments � - __
<br /> ` `.•" haiand or ro e iasurance �emiums;(d)9early ttood insutance premiums, � -�--
<br /> • ' or ground rems on t6e Propecty.if any;(.c)yearly P P rtY P � � --• -
<br /> Y. • ` ` �, ' if any:(e)Yeariy mortgage iawrance premiums. if any<and(�aaY sums Payable by Barrower to Lender, in accordance with � -� .
<br /> � � • ��-' the provisions of paragraph 8.in lieu of the payment of mortgage insurance premiwns-These itemg are called"Esctow Items." --
<br /> ••`�J--_.
<br /> . ` �cf!;.;��. Lender may,at am time.collect and hold Funds in an amount not to excxed the maximum arnaunt a lender for a federally ;�
<br /> � � related mortgage loan may require for Borruwer's escrow account under the fe�erat Real Estate Settlement Procedures Act of
<br /> - � 1974 as:unended from time co dme, 12 U.S.0 Section 2601 et seq. ("RFSPA").untesc another law that applies w the Funds ' __-
<br /> - '`��"�' sets a lesser amount. If so, Lender may, at ar►y time, callect and hold Funds in an amo�mt aot to exceed the lesser amount. • '=_
<br /> _�__-
<br /> _. , � , , . Lender may estimate the amonnt of Funds due on the basis of c�urent data and reasonable estimates of expenditures of fut�re L::;,j_T��
<br /> - - <"",.•'.: Escrow Itesns ur atherwise in accordance with applicable taw. :...,� —
<br /> ,' {�I i�--_
<br /> .. �,;:� The Funds shall be held in an institution whose deposits are i�;ureA by a federal agency. instrumentality, or entity � , k1 '! ��
<br /> �' ;;�. `. � (including I.ender.if I.ender is such an instiwuon)or in any Federal Home I.oan Bank.Lender shal!appiy the Funds to pay tite .• .,...
<br /> ����" '
<br /> ' - � . Escrow Items.Lender may not charge Borrower for holding and applying the Fnnds.annually analyzing the escrow account.or • .-•,.,�
<br /> • m _,. ,
<br /> ' '`'� verifying the Escrow items,unless Lender pays Borrower intcrest on the Funds and applicable law permiu Lender to make such `�. :�..�,..�.g
<br /> � . a c8arge.HoWever,Lender may require Borrower to pay a one-6me charge for an independent real estate taa reporting service ����
<br /> . .. ' ; _:. . • used by I.cnder in connedion with this loan. unless applicable law provides otherwise. Untess an a�reement is made or . —
<br /> � .. � -;<:''� appticable law requires intecest to be paid.Lendec shall aot bs reqomed to pay Sorroaer any interest or eamings on the Funds. • .;;--•-�
<br /> . ' � '� $orrower and Lender may agree in writing,howe��er.that interest shall be paid on the Funds. Leader shall give w Borrower. .�,:'.:�,r'.�—
<br />.�A` ... �.. ... `.,.=;` . ;
<br /> ' without charge. an annual acwunung of the Funds. showing credits and debits to the Funds and the pwpose for which each :� ., ;,_
<br /> de6it to the Funds w�s made.The Funds are pledged as additional security for aU svms secured by this Security Instiument.' ��:
<br /> � � . ' .,;. ;." If the Funds held by Lender exceed the amounts permitted to be held by applicable law,Lender shall account to Borrower ' ;s._�:
<br /> •:•:s�.:..�,_
<br /> �-�''� for the eacess Funds in accordance with the requimments of applicabte]aw.If the amount of the Funds hetd by Lender at any :,,,, � _�
<br /> . ° ,.,
<br /> , �;{ time is not sufficient to pay the Escrow Items wSien dae,Lender may so notify Borrower in writing,and.in sach cxse Borrower —=--
<br /> . shall pay to Lender the amount necessary to make up the deficiency. Borrower shall maice up the deficiency in no more than ���,�.=
<br /> � twelve monthly paymenu,at l.ender's sole discreuon. _ '��'=e:�_
<br /> . � " lJpan payment in full of all sums secured by this Security Instroment. Lender shall promptiy refund to Borrower any � �: `,�,�
<br /> � �'• ' Funds held by Lender.If,under paragraph 21,l.ender shall acquire or sell the Property.Lender,prior to ihe acquisiuon ar sale __- __
<br /> � � of the Property.sha11 apply any Funds hetd by Lender at the time of acquisition or sale as a ccedit against the sums sscured by .'_ ' .
<br /> ' '� '. lhis SP.cUrity IttstTUmrnt. •�•-.'rn �_
<br /> �.� ��:' *
<br /> � 3.Appltcatton of Payments.Un2ess applicable law provides othenvise.all payments received by Lender under paragraphs � •�. ;��;:
<br /> • 1 and 2 shall be applied:first.to asjy prepayment charges due under the Note; second,to amounts payable under pasa;,araph 2: ': �� :' __,,
<br /> • � � ' third,co interest due;fourth.to principal due;and last,to any iate charges due under the Note. =�=-
<br /> �� �:� � �:;
<br /> . 4.Charges;Llens.Borrower shall pay all taxes.assessmenu,charges,fines and impositions amibutable to the Property �
<br /> • . which may attain priority over this Security Instrument. and lea5ehotd payments or ground renu, if any. Borrower shall pay • .' " ��
<br /> • . . these obligations in��:manner pmvided in paragraph 2,or if not paid in that manner.Borcower shall pay them on time directiy - .
<br /> ' to the rerson owed payment.Borrower shall promptly fumish co Lender al!norices of amounts to be paid under thts paragaph. � ••; .
<br /> • � lf Borrower makes these payments directly.Borrower shall pro;-:ptly fumish to I.ender receipts evidencing the paymenu. .. ,
<br /> ' � Borrower shall promptly discharge any lien which has priority over this Security Instrument untess Borrower:(a)agreES in �:; ._ : • � .
<br /> writing to the paymcnt of the obligation secured by the lien in a munner acceptable to Lender:(b)contests in good faith the lien , � .
<br /> � � by. or defends agai�st enforcement of the lien in, legal praceedings which in the I.ender s opinion operate to prevent the ..
<br /> j��� "� enforcement of the lien:or(c>secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to . . .
<br /> � this 5ecurity Instrument. If Lender determines that any pan of the Property is subject to a lien which may attain pri�rity over • : . _ .
<br /> ". � this Security lnstrument,Lender may give Bonowcr a notice identifying the lien.Bonow�r shail satisfy the lien or take one or
<br /> more of the actions set forth above within 10 days of the giving of notice. .
<br /> , ' ' � Form 3028 9/90 �,.�. ..
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