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<br /> • 'fOC�GTH[?R WI'1'Fi all d►c in�provcmcn�5 na�v on c��•eafter crectcd on dic pruperry, +n�d nll caticmcntti.liPPurtcnunccs, anci .
<br /> fixuires nuw ur {iercnftcr.n �;rt a�f thc property. All rcplacements und ndditions nhall also hc ruvcmd by this Sccuriry
<br /> Instrument. AU oF�hc fur��,om�,is rcferred to in this Sccurity lnstrtunent us the "Pr��pcny.' '
<br /> BORROW�Et CQV�NAN'fS thnt Hcirmwcr is Iuwf�Ely sciscd of'Ihc ctitutc Ifcrchy canvcycd and has thc rig0u t�� grn�t and '.
<br /> cuuvcy th� Pru�i:::�ty and that the Property i�unencumberut, except fn�eucuinbrunces uf rcrord. llorrower wnrrants anJ witl ,
<br /> . '°���'� dciend gcncrally thc dtic tu�hc pro�►crty i�gninst tdl claims and dcuiands.+ub�cct tu :my cnrwnbeuncc�of rccurd. .,�,
<br /> ��' 'CHIS SECURITY iNSTRUNIENT cumbines unifm•m covcnants for natiunal u,c and non-uniform c��vcnants�vith limitcd
<br /> ;� vnrii►tions by jurisdiction to mnstitutc n unif��nn sccurity instrumcnt a�vcring real pruperty. •,
<br /> UNIFORM COVBNAN"1'S.Borcower and l.cndcr aivcnant und ugrcc us f��U��ws: .L�.,
<br /> 'i 1. �'ayment nt P�1ncl�1 und Giterest; Prepayment and Lnte Chnr4;cw. Qorn�wer shall promptly pay whcn duc thc
<br /> ` principAl of and interest on thc dcbt cvidenced by thc Note nnd nny prcpayme�u and lute chnrgcs due under the Notc.
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<br /> 2. Funds [or Taxes end Insuronce. Subject to np[�licablc lnw or w n writtcn wuivci' by l.endcr, Barco�vcr shall p•y �;'_�
<br /> • , Lcndcr on thc dny rnonthly payme�ts circ duc under the Notc,until the Note is p�id in full,n sum("Funds")for: (a1 yeurly tnxes !
<br /> . and assessments which mny nttain pr;arity�oY�`;��huztird or propertY insurance p cniiun Pr(d)yea�ly)flood insurance prcm umss �
<br /> or gmund rents on the Property,►f a Y•( )Y Y
<br /> �!'�'�� • if any; (e)yea�lY murtgage insurance pren�iums,if any; and (�nny sum+payablc by Harro�ver to l.ender, in accordance w�th
<br /> = '� �' the provisions of pamgrsph B, in licu of thc paymcnt of mortEngc insurancc prcmiums, Thcsc itcros�rc callcd"Escrow Itcros."
<br /> �•�.'',��� Lcnder may, at any time. collat und hold Funds in ai amo�int not to excccd thc muximum amount a Iender for a fedcrally L
<br /> rir�., -
<br />�•,.,;,� ,s related mortguge loan may require fnr Horrower's escmw account under the federal Re�il Esta[e Settlement k'rocedures Act u
<br /> 1974 as amendcd from time to time, 12 U.S.C. Section 2601 et seq. ("RESPA"), unless anothcr law that npplies ta thc Funds
<br /> •'���= sets a lesser amount. if so, Lender may. ut any time,collec:t and hold Funds in an arnount not to excecd the lesser amount.
<br />.''�`'�'- I.cnder may cstimate the amount uf Funds due an the basis of current data and reasonable estimates uf cxpenditures of future —
<br />_';;,�:�x;.� Escrow Items or otherwise in accordance with applicable law.
<br />';w.j^;� Thc Funds shall be held in nn institution whose deposits are insurcd by u federal agency, instrumenwliry, o p�uty
<br /> ;`>;� .; (including L.cnder,if Lender is such an institution)or in any Feder.d Home Loan Bank. Lender shall upply the Funds to � thc
<br />'`��''�''`�'�'� Escrow Items. L.ender may not charge eorrower fox holding and applying the Funds,:umunlly analyzing the escrow uccount,ar
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<br />`___:,r'x�;." verifying the Escro�v[tems,unless Lender pays Bonower interest on the Funds and appticable law perniits L.ender to make suc
<br /> '"`�`."- a charge. However, l.ender may require Bonower to pay a one-time charge for nn independent real estate tax reporting service
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<br />---��,,�;,,= used by Lender in com►ra:t�c,��:�::.h 2l:is !�sn. Lnlrcc anolieable law provides otherwise. Unless an agreement is ma e or
<br /> `;�;y�� applicable law requires interest to be paid, Lender shall nat be requireJ to pay Aorrower;tny interest or eamings on inc Fu��us.
<br /> - -,_:_�, Bormwcr and Lender m�ty a�ree in wricing,however,that interest shall be paid an the Funds. Lender shall givc to Borrower.
<br /> ==� without charge, an annuul accounting of the Funds,sho�ving credits and debits to the Funds and the purpose for which cach
<br /> ---°�"'"�Y°`� �'ebit to the Funds was made. The Funds are pledged as additional security for all sums sccu�red by this 5ecurity Instrument.
<br /> --=T�m�a If the Funds held by L.ender exeeed the amounts permittect to be held by applicable law. Lender shall account to Bortower
<br /> for the excess Funds in aaordance with the requiremen�s of applicablc law. If the amount of thc Funds hetd by Lender at any
<br /> - - time is not sufficient to pay thc Escrow Items when due. Lender may so notify Barrower in writing,and,in such case Borrower
<br /> , '�� shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than
<br /> twelve monthly payments,at I.ender's sole discretion.
<br /> Upon payment �n full af all sums secured by this Se.curity Instrument, Lender shall promptly refund ta Borrower any
<br /> of the Prod b yLshA1��If,Iu aneC�unds h Id b� Le der at�the t4me of aceaisitiouror�sale as a credt a�ainst the�suumstsecured be
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<br /> this Secarity Instrument.
<br /> 3.Appltcatlon of Payritcnts.Unless applic�able la�v provides otherwise,al[ paymcnts received by Lendcr under paragrap s
<br /> 1 and 2 shall be applied:first,to any prepayment charges due under the Note; sc;cond,to umaunts payable under paragraph 2;
<br /> -- third,to intcrest due;fourth,to principal due; Tnd last, to any late charges due under the Note.
<br /> --- -- - 4.Charges:Ltens.Rorrower shall pay all taxes. assessments, charges,fines and irnpositions attribut��blc to the Property
<br /> - r:hich may attain priority over this Security Instrument, and ieaschold payments or ground rents, if uny. Bon•ower shall pay
<br /> —� these obli�ations in thc manner�rovided in paragraph 2,or if not paid in that manncr.Borrower shall pay thcm on time directly
<br /> ' - to the person owed paYment.Bonower shull promptly furnish to Lender all notices of amounts to be paid under this parngraph.
<br /> - If Borrower makes these payments dircctly,Borrowcr shall promptly furnist�to L.ender receipts evidencing the payments.
<br /> _ - ° �3orrower shall promptly discharge any lien which has priority over this Security Instrument unless 13orcower: (a)agrces in
<br /> writing to tlie payment af the obligation sccured by the lien in a manner acceptablc to Lendcr;(b)contests in good'fnith the lien
<br /> -_�����_V_�� by. or defcnds against enf�rcement of the licn in, legal prxecd�nSs which in thc Lender's opinion operace tv prevent the
<br /> � �� enforcement of thc licn;or (c)secures from the holder of the licn an agreemcnt satisfactpry to L.ender subordinating the lien to
<br /> Y=�."'���'� this Securiry Instrument.(f Lender determines that any part of the Prop�rty is subject to a lien which may attain priority over
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<br /> -'?!'�H;4:,`'�.�i ., this Securiry Instrument.Lcoder mny give Borrower a notice idcntifying the licn.Bonower shall satisfy thc licn or take one or
<br /> �'�^:""'=�� � more of thc uctions set forth ab�ve within 10 days oFthc givin�of noticc.
<br /> Forrn 802i1 9f90
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