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<br /> TOGETHER vi/i'fH all the improvements now or hereafter erected on the propert}�,anJ all ca.,rment.,appuncnu�cr,.:u�J ' ' '_s=t�
<br /> tixture; nua• ur hereafter a pan of the pn�perty. All replacement� and addition, �hall al.�� he �o�end b}• thi. Security - _
<br /> Instrument. All of the foreLe�ing i�referted tu in thiti Sctiurity Instrument:iti Ihe"Pr��pert}." ` • ' ??
<br /> ' BORROVUER COVENANTS that Barti�wes is lawfuUy��eiseJ of the c�+tate hereby conceyed and ha+the right tu gr.�nt and � . . -_ _.
<br /> ' convey the Property and that the Pr��perty i. un��neumbered. exrept for enrumbrsnce� uf rerord. Burrower warrsnt� :uid will ' . . •.`, _�_,
<br /> defend generally the tide to the Property agairot aU rlaim�and demand�.�ubjert tu any� encumhranre+uf recorei. , � �
<br /> � THIS SECliR[TY INSTRUMENT combinea uniform covenants fi�r nat�unal a,e and nun-uniti�rm r.»�enant+ uizh limiteci , '�
<br />- variations by junsdictian to cons[itute a uniform,erurity imtrument covering r..al propetty. - • �• ,
<br /> � UN[FORM COVENANTS. Bortow•er and Lender rovenant and agtee as foUc�a�s: - -; '--.;-- -'-1-
<br />, 1. Payment of Principal and Interest: Prepa��ment and Late Char'�es. Borrower tihall prumpdy pay when due the , • ;�.�,
<br /> principal of and interest on the debt evidenced by the Note and any prepayment and late charges due unJer the Note. r : .-
<br /> 2. Funds for Taxes and It�surante. Subject to applirabie law or to a written waiver by Lender. Borrow•er shall pay to , , - . ;�
<br /> Lender on the day monthly payments are dae under the Note.until the Note is paid in fuli,a sum("Funds"1 for: (a)yearly taxes , . -- � �
<br /> and assessments which may attain priority over this Security Instrument as a lien on the Property:(b)yearly leasehold payments ' .. - ., ����'�
<br /> or ground rents on the Properry.if any:(c)yearly ha7ard or property insurance premiums;(d)yearly flood insurance premiums, • : ,'3�,.,.'`__
<br /> • if any: (e)yearly mortgage insurance premiums, if any: and (t�any sums payable hy Barrower to Leresier. in accordance with - t. �`�-
<br /> -,�s+��"�;,_.�..
<br /> • the provisions of paragraph S,in lieu of the payment of mortgage insurance premiums. These items aze called "Escrow Items." `• '�-�--
<br /> elR = - -
<br /> L,ender may, at any time, collect and hold Funds in an amount not to exceed the maximum amount a lender for a federally ' "' -.�"�•�.-.A�.- _ ��
<br /> related mortgage loan may reqnire for$orrower's escrow account under the federal Real Estate Settlement Procedures Act of , ���'-
<br /> 1974 as atR�nded from time to time. 12 U.S.C. Section 2(s01 et sey. ("RFSPA").unless another law that applies to the Funds '����';`~--
<br /> sets a lesser amount_ If so, Lender may. at any time, collect and hold Eunds in an amount not to exceed the lesser amount. , � ��_
<br /> - Lender may estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future . . � r 4 �
<br /> �� � �.
<br /> Fscrow Items or otherwise in accordance with applicable law. • ---w-�� =
<br /> The Funds shall be held in an institution whose deposits am insured by a federal agency, instcumentality, or entity - • - �-��� _--
<br /> (including L.ender.if Lender is such an institution)or in any Federal Home Loan Bank_ Lender shall apply the Funds to pay the . +:-
<br /> Escrow Items. Lender may not charge Borrower for halding and applying the Funds,annually analyzing the escrow account,or � :,� ���. �'
<br /> verifying the Escrow Items,unless l.ender pays Bottawer interest on the Funds and applicabte law permits L.ender ta make such � � . �r.�f.'�,� .�,
<br /> - - a char e. However. Lender ma r uire Bonower to a a one-time char e for an inde endent real estate tax re ortin service _�"" ''�
<br /> S Y �l PY' S P P g • " �: .
<br /> � used by Lender in connection with this loan. unless applicable law provides othenvise. Unless an agreement is made or • -��' �,�.;��: . �
<br /> applicable law ret�uires interest[o be paid. Lender shall noc be required to pay Borrower any interest or eamings on the Funds. �� ;�h•� �
<br /> � �..y'. .�i.',
<br /> � Borrower and Lender may agree in writing, however. that interest shall be paid on the Funds. Lender shall give to Borrower, :-ir+,• �r , �:; �-
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<br /> without charge, an annual accounting of the Funds, showing credits and debits to the Funds and the p�lrpose for which each :� � _
<br /> � debit to the Funds was made.T6e Funds are pledged as additional security for all sums secured by this Security Instrument. �.i ; -
<br /> : ' !f the Funds held by Lender exceed the amounts permitted to be held by applicable law. Lender shall account to Borrower ,;; ',. ,
<br /> for the excess Funds in accordance with the requirements of applicable law. If ihe amount of the Funds held by L.ender at any �*�� �� .�t .:' '
<br /> time is not sufficient to pay the Escrow Items when due.Lender may so natify Borrower in writing.and, in such case Bonower �
<br /> . shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the defcicncy in ao more than �-f .'��t � �
<br /> twelve monthly paymenu,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 �"'-`'-�'�`'�
<br /> Funds held b L.endec[f, under ara ra h 21. Lender shall ac uire or seU the Pro ert Lender, rior to the ac uisition or sale ' +��'''� _
<br /> Y P � P 9 P Y• P q .+��.;:-� �:`� .
<br /> of the Property,shall apply any Funds held by L.ender ac the time of acquisition or sale as a credit against the sums secured by • •�`� �- -_
<br /> ��` this Security instrument. � � '�' �: _:__
<br /> ' 3.Applicatton of Payments.Unless applicable law provides otherwise.all payments received by Lender under paragraphs �_�..:_....;._�.y..,�__'� _�
<br /> • 1 and 2 shall be applied: first. to any prepayment charges due under the Nate; second.to amaunts payable under paragraph 2: —- - - - _
<br /> third,to interesY due;fourth.[o principal due:and last,to any late charges due under the Note. � -
<br /> 4.Charges; LIens. Borrower shall a all taxcs, a+sessments,char es, fines and im ositions attributable to the Pro e �'����
<br /> PY S P PriY ����:'
<br /> which may attain priority over this Security instrument, and lcasehold payments or ground rents, if any. Borrower shall pay -- _f,.•.�'�+—•- "`
<br /> _ , .�:��_
<br /> these obligations in the manner provided in paragraph 2.ar if not paid in that manner. Borrower shaU pay ihem an time directly •'; ,: __ _
<br /> ta the person owed payment.Borrower shall prompdy furnish to Lender all no[ices of amount�s ta be paid under this paragrsph. : -�T'`�:•�'•�:'�t�"Y —'
<br /> � �.� If Borrower makes thesc payments dircctly,Borrawcr shall promptly fumish to Lender rercipts evidencing the payments. �*�r: `'`..��
<br /> ' Borrower sha11 promptly discharge any licn which has priority over this Security Instn►ment unless Borrower: (a)agrees in , :
<br /> '`� writing to the payment of the obligation secured by the lien in a manner acceptable to Lender:(b>contetits in good faith the lien :-.�;�;*.:.:�.•.�=:�-� �—
<br /> �t b . or defends a ainst enforcement of the lien in. le a! roceedin s which in the Lender's o inion o erate to revent the ' �
<br /> Y S S P g P P P '�' S�:s;�at�.;�•,..
<br /> enforcement of the lien:or(c)secures irom the holder of the lien an agreement satisfactory to Lender subordinating the lien to � �'^"•� F�' '
<br /> this Security Instrument. If Lender determines that any part of the Propeny is subject to a lien which may attain prioriry over � j� `��^ ' -
<br /> r i�'MYY6��.�S7i��.+ �
<br /> [his Securiry lnstrument, L.ender may give Borrower a notice identifying the lien. Borrower shall 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 �_:.
<br /> • oepo 7 0�F � �
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