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<br /> I , ' TOGETHL�R WITH all the improvements now or hereafter erecced nn the property,�+ncl�U caticmeutr+, upputtenxnces,iuid .
<br /> fixtures now or hereafter a parc of the propeny. All replac:emenGS and additions rhnll iilnu he cuvrreQ hy tl�fy tiecurity �
<br /> j Instrument. All of the foregoing is referred w in this Security Instrument as the"Property." ��-:
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<br /> i BORROWGR COVENANTS that Bonower is lawfully seised of die estxte hereby a�uvcyed nnd h��:: tite dght tu gr�tat aud � ,, ;.,, _
<br /> � canvey tlie Property and that the Property is unencumhered, eacept for encumbrnns•xti af recc�rd. Borruwer wneritnta and will -;.`;�. ,
<br /> �� � defend generally the title to the Properry againsc all claims and demands, subject to tuiy encumbrxnces of record. ;,:'...;;?:,
<br /> '� TH1S SSCURIT'Y INSTRUMBNT cambines uniform caveiuuits for national use and non-unifonn covenantti with lint�ted .`:`�:',,;,:;<.:: ;
<br /> variations by,jurisdicdon to constirote a uniforni security insuument covedng real property. `�- ' ',�`` �
<br /> UNIFQRM COVBNANTS. Borrawer aad Lender covenant aud agree ns fullows: • .
<br /> ••� 1. Payment of Princip�l and Interest; Prepayment and l.ate Chnrges. Barrower shall pron�ptly pfry wlien duc: die . _ . .
<br /> principal of and interest on the debt evidenced by the Note and aay prepayment and late ci�arges due under die Nute. ;, ��_;;,;;:.;'.: .
<br /> 2. FuncL9 for Taxes and Ir�urance. Subject to applicable law or to a writt�n waiver by l.ender, Borrower sliall pay to ,•"�;{t;i` ``
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<br /> Lender on the day monthly payments are due undcr the Note,undl the Note is paid in full,a sum("Punds")for.(a)yeurly txaes r:��.;;v�.•
<br /> and assessmettts which may attain priority over this Securiry Instcumeat as a lten on the Pro ert ; (b)yetuly le�settnld aymenGr .+��y'',':y��
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<br /> or ground rents on the Property, if any;(c)yeax�ly hazard or property insurance premiums; (d)yearly flaod lnsun�nce pren�luine, � x. �: ���,;�,�
<br /> if any; (e) yearly mortgage insurance preraiums,if any; and (�any sums payable by Horrower to Lender, in accordance wldi T sA�,:
<br /> the rovisions of paragraph 8,in lieu of the paywent of mortgage insurance preiniums. These itemq are culled'Bscraw Items.' k��;`:�:�;;:'?,
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<br /> Lender may, at any time, collect and uold Funds in an amount not to exceed the maxiraum wnount A lender for a federally _:;��
<br /> related mortgage loan may require for Bonower's escrow account under tlie federal Real Bstate Setdement Prc�cedures Act of .,,,i..:;:.
<br /> 1974 as amended from time to time, 12 U.S.C. Secuon 2601 et seq. ("RSSPA"), unless another law that applies to the FunJ.g ��'•;. ,,,�4-'r'
<br /> seGs a lesser a�►ount. If so, Lxnder may, at any dme, collect and hold Fbnds in an amount ttot to exceed the lesser amount. `�;r.:;
<br /> n r ma esdmate the amoiuit uf Punds due on the basis of current data and reasonable esdmates of expenditures nf future uF`.,m`��
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<br /> :t Escrow Items or otheiwise in accordance with applicable law. ' . :. f_
<br /> The Funds shall be held in an insdtudon whose deposits are insured by a federal agency, instrumentality, or endty .F� _
<br /> �' (includin g Lender,if Lender is such an insutudon)ar in any Federal Home Loan Bank. Lender shull apply the Funds to pay the ' y. . >.
<br /> B s crow Items. Lender ma y not charge Borrower for ho l d in�an d app ly i n g t h e F u n d s,a n n u a l l y a n a l y z i n g t h e e s c r o w a c c o u n t,o r .�..,� {'.
<br /> _� v e r i f y i n g t h e B s c r o w I t e ra s,uuless Lender pa ys Borrower iaterest on the Pun ds an d app l ica b le law p e t m l G�l.e n d e r t o m a k e s u c h � ' �
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<br />— --- - - a charge. However, Lender muy iaja;r2 Lorrawer ta ps;s one-time r�,aroe for an independent real estate tua repo r dng serv ice
<br /> used by Lender in connecdon with this loan, unless applicable law provides othexwise. Unless an agreement ls made or �� •.
<br /> applicable law requires interest to be paid,Lender shall not be requirr.�l to pay Bonower any interest or earniuge un ths Punds. , �
<br /> Borrower and Lender may agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Aonower, ��
<br /> without cherge, an annual accoundng of the Punds,showing credits and debits ro the Funds and the purpose for v�hich each ,;� ;,
<br /> debit to the Funds was made.The Funds are pled�ed as additional security for all sums secured by tkus Securiry Instrument.
<br /> If the Funds held by Lender exceecl the amounts permitted to be held by applicable law, Lender shall secount to Borcower i .:
<br /> for the eacess Funds in accordance with tlie requirements of applicable law. If the amount of the Punds held by Lendet st any j
<br /> time is not sufficlent to pay tlie Bscro�v Items when due.Lender may so aotify Bonower in writias,and.in such case Borrower
<br /> shell pay to Lender the amount necessary to make up !he deficiency. Bonower shall make up the deficiency In no more than —
<br /> twelve montWy payments,at Lender's sale discretion. �
<br /> �• „ Upon payment in fiilt of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower nny „��'"
<br /> Funds held by Lender.If, under paragraph 21. Lender shall acquire or sell the Property,Lender,prior to the scquisidon or sale
<br /> - of the Propt:rty,shall apply any Punds held by Lender at the time of acquisldon or sale as a credit a�ainst the sums secured by -
<br /> � � , this Sec�uity Instcument. -----
<br /> - �� 3.Applteatlon of Payments.Unless applicable Iaw provides ochecwise,all payments received by Lender under paragraphs `,
<br /> 1 and 2 shall be appliecl: fixst, w any prepayment chaTges due under the Note; secand,to nmounts payable under paragraph 2;
<br /> • third,to interest due; fonrth,to principal due; and last, to any late charges dve under the Note. ._;—�_�
<br /> ' 4.Charges; Ltens. Bonower shall pay all taues, assessments,charges, fines and impositions attributable to the Property .��-
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<br /> which may attain priority over this Security Instrument, and lea.cebold payments or�round rents, if any. Borrower shalt pay _ __�_
<br />� diese obligatlons in the inanner provided in paragraPh 2.or if not patd in that mauner,Bonower shall pay them on time dlrecdy �
<br /> , ro die person owed payment.Honower sball prompdy furnish ro Lender all nodces of amounts to be paid under tk►is paragcaph. _�r�"=��-`:
<br /> % if Honower makes these payments directly,Bonower shull prompdy furnish to Lender receipts evidencing the payments. �r��;..�_—__
<br /> ' Bonower shall promptiy discharge any lien wluch has priority over this Security Instrument unless Bonower: (a)agrees in ,,;.. '�
<br /> writing to the payment of the oblisadon secured by the lieu in a manner acceptable ro Lender; (b)wntests iu good faith the lien ��� .r��,�°��i:`
<br /> - • hy, ur defends against enforcement of the lien in, leg�l proceedings wluch in the Lender's opinion operate to prevent the -��;
<br /> en€i�tcement of We lien;ur(c) secures ftom the holder of the lien an agreement satisfactory to I.snder suboniinadng the lien to .'.y,: •�_;;.�,�
<br /> tlile Security Iustrument. If Lender detemrines thxt any pan of the Propeny is subject to a lien which may attain priority over � . ..
<br /> ' diis Security Instrument, Leader may give Borrower a notice idendfying the lien. Borrower shall satisfy the lien or take one or :
<br /> niure uf the acdons set forth above within 10 days of the giving of nodce. „
<br /> " Form 3026 8/90 ��
<br /> ��ERINEI�o2i2�.oi Pay�7 ot 0 waa�.:,�,�._ ., .� .,
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