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<br /> � TOGflTHER WITH ull the improvements now or hereafter erecced on the property,and all easements,appurcenances, and � ,
<br /> � fixtures now or hereafler a part of tlie propeay. All r�placements and addidans shull also be covered hy this Security _
<br /> � Instivraeut.All of the foreg�ing is referred to in this Securiry lnsuument xs the "Praperty." -
<br /> BORROWER COVP.NANTS tliat Borrower is lawfully seised of the esu►te hereby wnveyed and has the right to grant and
<br /> � canvey the Propeny and that the Property is unencumbered, exapt fur encunibranu:s of recurd. Borrower warranGS and will i
<br /> : defend generally the title to the Property against all claims and demands,subject ta any encumbrances of record. _
<br /> j THIS SECURITY INSTRUMBNT cambines uniforn�covenant,s for natlonal use and non-uniform covenants with limited _
<br /> � variations by jurisdiction to coi�stitute a uaiform security ittietnunent covering real property.
<br /> � UNIFORM COVENANTS. Bonower and Lender covenant end agree twti follnwa: ,
<br /> j1. Pnyment of Princlpal and Interesl; Prepayment and Latc Char�es. Borrower shHll promPtly ptty when due d�e �
<br /> 1 pdncipxl of and interest on tlie deSt evidenced by d�e Note nnd any prepaytne�it and iate chnrges dur,under the Note. _
<br /> � 2. F'un�for Taxes and Insurance. SuhJect to npplicahle Ixw ur to+� wrltten waiver by Ixnder, Barre�wer shall p;ry tu ���_-�=
<br /> L.�nder un ths dc►y montldy pnymeiite►�re dtte tmdr,r the N��te, undl d�c N�ite ie+p�dd in full,ii siun("FUnJy")for.(a)Yciuly utxeti =-�
<br /> and iissessa�eutx which roay ntuiin prinrity ovtr this Security I��ytnmient as n licn ou d��Pra�rty; (h)yenrly le.�.�chold paymints -
<br /> . or grou�xl renty c+n tlt�:Pruperty,if uny;(c)ye�►rly I�uz+uQ or propeny it4rurancr,prem iume; (d)yuu ly flni x l ins u r a nc t p r e m i u mti, • :_ :_
<br /> if any; (r.)yeatly mnrtg+�ge Ir�.tiurauce premlums, ff tu�y: and (t)uny nums payable by 8arrower to l.�nder,in accordance with �a`-'��_
<br /> the provislun�of��aragrxph 8, iu lieu of the paytnetit of mortgege Insurance premiunis. These items are callecl "Bscraw Item�." '_'_
<br /> l.ender mey, at any time, collect and hold Fund.v in an wuount not to exceed die miucimua� amount a lender for n fede r a l ly �
<br /> related mottgage lo�ut may requlre for Bonower's escraw account under t�e fecleral Real Sstate Setdemeat Procedures Act of F.:�.�._
<br /> 1974�.s umended from dnie to time, 12 U.S.C. Sec:don 2601 et seq. ("RESPA"), unless another law that applies to the Fuuds
<br /> � setx a lesser nmount. If so, Lender may, at any tinie, collect and hold Punds in an amount not to exceed the lesser iuttauut. �-�___
<br /> I.ender may estimate t�e awount of Funds due on the basis of current data and reasonable estimates of expenditures af future • %'. �-=
<br /> Escrow Items or otherwise in accordance with applicable law. � . '
<br /> �, The Funds shall be held in an iasdtudon whose deposits are insured by a federal agency, instzuntetttality, or entity _ �; -
<br /> (including Ixnder,if Lender Is such an insdtudon)or in any Federal Home Loan Ba�ilc. Lender shall apply the Funds to pay the " ���
<br /> '' Bscrow Icems. Lender may aot cHarge Borrower for holding and applying the Punds,unnually analyzin�the escrow account,or
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<br /> verifyius the Bscrow Icems,unless Lender puys Borrower interest on the Funds and applicable law permits Lender to ma{ce such � '�
<br /> a charae. However, Leuder may require Borrower to pay a one-time charge for.w icdependettt real estate tax repordng servlc:e , ;;
<br /> used by Lender in connecdon with this loan, unless applicable law provldes oWerwise. Uniess an agreement is mxde vr �- _;�
<br /> � applicable law mquires interest to be paid.I.ender shall not be required to pay Borrower any interest or earnings on the Funds. � n i ' �
<br /> Borrower and Lenc�er may agree in wriang,however, that intenst shall be paid on the Funds. Lender shall give to Borrower, ; i .Y,4 ,: .
<br /> � without chnrge, an annual accoundng of the Punds, showing credits nnd debits to the Funds and the puipose for whlch each
<br /> debit to the Fnnds was made.The Funds are pledged as additionnl secucity for all sums secured by this Security Instiument. 4
<br />� If the Funds held by Lender exceecl the amounts�ermlYted to be held by applicable law, Lender shall account to Borrower , �r
<br />' for the eacess Funcls in accordance with the requirements of applicable law. If the amount of the Punds held by Lender at any }
<br /> time is not sufficient to pay the Bscrow Items when due, Lender may so norify Borrower in wridng,and. in such case Borrower
<br /> shall pay to Lender the amount necessary to make up the deficiency. Bonower shall miake up the deficiency in no more tban =
<br /> twelve motuWy payments.at Lender's sole discredun. ,
<br /> Upon payment iu full of all sums secured by this Secwiry Instrument, Lender shall promptly refund ro �orrower any i ��
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<br /> Funds held by I.ender.If, under paragraph 21,Lender shall acquire or sell the Property,I.ender,prlor to the acquisidon or sale --____
<br />- of the Property, sl�all apply any Punds held by Ixnder at the time of acquisition or sale as a credit against the sums secured by _ -__
<br />` thes Securlty Instnunent. -
<br /> ' 3.Applicatlon of Payments.Unless applicable law provides otherwise, all payments received by Lender under paragrapLs ` -----
<br /> • , 1 and 2 shall be applied: first, to any prepayment charges due under the Note;second,to nmounts payable under paragcaph 2;
<br /> .s• third,to interest due;fourth,w principxl due;aud last, to any late charges due under the Note. '""�'�"=-�--°
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<br /> - 4.CharIIesi Liens. Bonower shall nay all taxes, assessment�, cha:ges, fir,es and impc»itiou,attri�utable ta the Pro�rty __--_--_---___
<br />- which may attain priorIey over tlus Security Instrument,and leasehold payments or ground rents, if any. Horrower shall pay -`-�______
<br />-a�'' • these obligations iu ahe manner provideci in paragraph 2�or if not paid in that manner, Boaower shall pay them on time direcdy _ � ���T
<br /> to tl�e person owed payuient. Bormwer shall prompdy fumish to Lender all notices of amounts to be paid under this paragraph. �__�K�.���-„_:�,�
<br /> • If Borcower�akes tLese payments directly,Bonower shall prompdy fiunish to Lender receipts evidanciug the payments. '
<br /> Borrower sliall pmmptly disc�arge any lien which has priority over dris Security Instmment unless Borrower: (a)agrees iw .��'tr': =
<br /> writing to the payment of the obligadon securecl by the lien in a manner acce table to Lender;(b)contests in good faith the lisn '�'°''*'n y •-`
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<br /> by, or defends against enforeement of the lien in, legal proceedings which in the I.ender's opinion opetxte to prevent the `�: :: �"�t`��..
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<br /> enforcement of the lien;or(c)secures from the holder of the lien an a ment sadsPacto to Lender subordinating the liea to ��: 't ' '"��- �
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<br /> - this Secwity Instcument. If Lender determines that any part of t�e Property is subject to a lien which may attain priority over . ��.• :
<br /> ttus Security Insnument, Lender may give Borrower a nodce ident.ifying the lien. Borrower shall sadsfy the lien or take one or
<br /> � more of the actioas set forth above within 10 days of ehe�iving of noace. �
<br /> _ Form 3028 9/90
<br /> _ �m 6RlNE)ie2t2i.o� a.s.t oe o innw�G/1 f�"`'' ,,
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