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<br /> TOGETHER WITH all the improvements now or hereafter erected on the property.and all easements, appnnenances.and • , : ..-
<br /> fixtures now or hen�after a part uf the pru pert}�. All replacements and additions �hall also he rovered by thi� Security ,
<br />� Imtrument. AU of the foreguing i,referred to in thi+Security la,trument as the"Propert}'•" t -_
<br /> - BORROWER COVE*IANTS that Borrower i.lawfully seis�d of the e�tate hereby� ronveyed and has the nght to grant and ; ,`_
<br /> convey� t h e P r o p e r t y a n d t h a t t h e Pro pert y i. unencumbered. except for encumbrance� ��f record- B�iT�`�'er warrants and will , `
<br /> � defend generaUy the titie to the Prc�perty xgain�t:ili claim�and demandti..ul?ject to any encum brance+o f reco r d. � � _
<br />-s i"H[S SECURITY INSTRUMENT combine.uniform covenant5 for national u,r and non-uniform covenants with limited ,.�`
<br /> variations by juri�diction w cemtititute a uniform security instntment rurering real property. . , , ..�,
<br /> UNIFORM rOVENANTS. Borcower and Le�ider covenant and seree a�follow.: _,_ .___._._ -�
<br /> 1, payment of Principal and Interest: Prepayment and Late Cttarges. Barrower shall promptiy pay when due the . �
<br /> principal of and interest on the debt e�•idenced by the Note and any prepayment and late charges due under the Note. _�:
<br /> Z. Funds for Taxes and Insurance• Subject to applicable taw or to a written waiver by L.ender. Borrower shall pay to : ..
<br /> Lender on the day monthly payments are due under the Note,until the Note is paid in full,a sum l"Funds") for: (a?y�'�y�� :,. _ ;'� - �'•
<br /> ' and assessments which may attain priority over this Security instrument as a lien on the Property:Ib>yearly leasehold paymettts " �A, -_y �,,,��.,��� .--
<br /> ,�=�-°=,
<br /> or ground rents on the Property. if any:ic)yearly hazard or property insurance premiums:(d)yearly flood insurance premiums. _
<br /> if any: le)yearly mortgage insurance premiums, if any; and Itl any sums payable by Borrower to Lender, in accordance with -,.,,��-v'=
<br /> h 8,in lieu of the a ment of mortgage insurar►ce premiums. These items are ca1led"Escrow Items." ��:.—
<br /> the provisions of paragrap P Y � "
<br /> Lender may. at any time. collec,K and hold Funds in an amount not co exceed the maximum amount a lender far a federally _.���`����_�_-�
<br /> uire for Borrower's escrow account under the federal Real Estate Settle.ment Procedures Act of .� �;�,"''r"
<br /> relate�i mortgage loan may req • . �
<br /> 1974 as amended from time to time. 12 U.S.C. Section 2601 et seg. ("RFSPA").unless another law thnt applies to the Funds ��i -
<br /> �,....�
<br /> sets a lesser amount. If so. Lender may. at any time, collect and hold Funds in an amount not to exceed the lesser amount. � •�.Y�
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<br />' Lender may esd►nate the amount of Funds due on the basis of current data ar.d rea+onable estimates of expendi[ures of furure �. fi
<br /> Escrow[tems ar otherwise in accordance with applicable law. ..._ � '�� '' •�'��.--
<br /> The Funds shall be held in an institution whose deposiu are in�ured by a federal agency, instrumentality, or entity , �
<br /> � (including I.ender,if L.ender is such an institutionl or in any Federal Home Loan Bank.[.ender shall apply the Funds to pay the , • . c �'.� �
<br /> Escrow Items. I-ender may not charge Borrower for holding and applying the Funds,annually analyzing tTrte escrow account.or .�� , �-�`
<br /> verifying the Escrow Items, unless Lender pays Borrower interes[on the Funds and applicable law permits Lender to make such :[M1,. ; � �:� :
<br /> a charge. However. Lender may require Borrower to pay a one-time charge for an independent real estate tax reporting service � e
<br /> , �; .
<br /> used by L,ender in connection with this loan. unless applicable law provides otherwise• Unless an agreement is made or _ �y.,,i .
<br /> applicabte taw requires interest to be paid, Lender shall not be requireci to pay Borrower any interest or earnings on the Funds. � � _,, • ...
<br /> Borrower and l.ender may agree in writing. however,that interest shall be paid on the Funds. Lender stsall give to Borrower, . ;•.
<br /> without charge, an annual accoun[ing of the Funds, showing credits and debits to the Funds and the purpose for which each -;#.j,,
<br /> debit to the Funds was made.The Funds are pledged as additional security for all sums secured by this Security Inswment. �
<br /> If the Funds held by L.ender exceed the amounts permitted to be held by applicable law.Lender shall account to Borrower ��; : -
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<br /> � for the excess Funds in accordance with ehe requirements of applicable law. If the amount of the Funds held by Lender at any f
<br /> time is notoui.endertthe amountFnecessary to make upetheedeficiencyS Borr weBr shall make up t e deficiencyc n o�mare har►
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<br /> shall pay t • �
<br /> twelve monthly payments.at Lender's sole discretion. ���- •
<br /> Upon payment in full of all sums secured by this Security Instrument. Lender shall promptly refund to Borrower any •� '.y�- �
<br /> Funds held by Lender.IF, under paragraph 21.Lender shall acquire or sell the Properry.Lender,prior to the acquisition or sale ��.-_=
<br /> of the Praperty.shall apply any Eunds held by Lender at the time of acquisition or sale as a credit against the sums secured by .__"'�°'�""°'�""
<br /> this Security Instrument. �''E��°�--
<br /> 3.Applieatton of Payments.Unless applictible law provides otherwise,atl payments received by Lender under paragraphs �';�F_;:�
<br /> 1 and 2 shall be applied: first. to any prepayment charges due under the Note: second,to amounts payable under paragraph 2; �. _y�,
<br />� third,to interest due:fourth,to principal due:and last.to any late charges due under the Note. � �-�--...��,�
<br /> 4.Churges;Liens. Botrower shall pay all taxes.assessments, charges, fines and impositions 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 paragraph 2,or if not paid in that manner,Borro�ver shall pay them on time directiy '-:��.�T�� `��^�
<br />�. • to the person owed payment. Borrowcr shall promptly furnish to l.ender all notices of amounts to be paid under this paragraph. .�:��: , .
<br /> If Borrower makes these paymenGs directly.Borrower shall promptly fumish ta I.ender receipts evidencing the paymenu. �� ,j` '
<br /> Borrower shall promptly discharge any lien w6ieh has prioriry over this Security Instrument unless Borrower.(a)agrees in =��A'"��'^"'^`"" --
<br /> . writing to the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)contests in good faith the lien .;�' ''= � ..�'� , , ,_..
<br /> by, or defends against enforcement of the lien in. legal proccedings which in the l.ender's apinion operate to prevent the 7,.��;�,�_„
<br /> enforcement of the lien: or(c)secures from the holder of the lien an agreement satisfactory ta Lender subordinating the lien to _ .�, . :
<br /> this Security Instrument. If Lender derermines that any part of the Propercy is subject to a lien which may attain prioriry over ,�.. .,�-,.;�,n,; -- -
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<br /> � this Security Instrument, Lender may give Borrower a notice identifying the lien.Borrower shall�atisfy the lien or take one or . ., �.:.
<br /> more of the actions set fonh above within 10 day�of the giving of notice. • '`=�i�u e.
<br /> Form 3028 9/90 . � .���� '���`.
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