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<br /> TCX'iETNGR Nl'TH nll ihc i►nprovemcnts now or hereaftcr erected on�hadiu ns�Yh.11�u�o�«���«arhyr`Ehi,11Sccuriry —
<br /> tixturcti no�s on c�rcidtcr a p.trt nl' ihc properry. All replacements und a .• _
<br /> ,.n, � Instrwncnt. All of thc foreEuin� i�ref crrcd to in this Serurity In.trumcot u�thc "Prnperty.' �
<br /> BORROWBR COVENANTS thui B��n�nwer is IawCully seised oP the cstute hereby cun�epecl und has the right ta grant und
<br /> , convcy the Property und that the Pruperty is unencumhered, cxcept far encunthrunces ��f rcrord. Borrou•er wurruntti and will �
<br /> defend generslly the tide to the Property ugaintit ull cluims and demands,subject to uny encumbrunceti of record. �
<br />` �' � THI5 S�CURITY INSTRUh1ENT combincs uniform covcnunts for national usc and nan•uniform covenuntx �vith limited
<br /> ' variations by jurisdiction to canstiwte n uniform+ecurity instrument covering real property.
<br /> � �"� UNIFORM COV�NANTS. Borrower und l.ender covenant and agrcc as fo�lows. -�-
<br /> 1. Payment of Princlpal and Inter�st; Prepayment und Late CharRcs. Borrowcr shall promptly pay when due thc
<br /> principal nf and interest on the debt evidenced by the Note and any prepayment and lute charges due under the Note.
<br /> - , �. ` 2. Funds for 1's►xes and InsucAncc. Subjcct to applicable law or to a written waivcr by Lendcr. Borro�vcr sh:�ll puy to
<br /> � ��. �,' l.ender on[he day monthly payments nrc due undcr the Note,until the Note is paid in full,a sum("Funds")for:(a)yexrly taxes
<br /> � ' and assessments which may attain priority over this Security lnstrument as a lien on the Property; (b1 yeurly leaschold pnyments
<br /> or ground rents on the Pmnerty, if any:(c)yearly hu�.ard or property insurancu premiums;(d)yeurly flood insurance premiums. `
<br /> "' if any: (e) ye:+rly mortgage insurance premiums, if any; und(1 any sums paynble by Horruwer to Lendcr, in acwrdance with
<br /> ' the provisions of paragraph 8, in lieu of the payment af mortgage insurunce premiums. These items are called"Escro�v Items."
<br /> . Lender may, at any timc, collect and hold Funds in an amount no[ to exceed thc maximum amount a Iendcr for a federally �
<br /> �� , '�� related mortgage��an may require for Bormwer's escrow uccount under the federal Real Estate Settlement Procedures Act of
<br /> • 1974 as amcnded�iom timc to timc, I? U.S.C. Scction 2601 er seq. ("RESPA"), unless anothcr law that applics to the Funds
<br />•, . ' + sets a Iesser umount. If sa. Lender may, at any time, collect nnd hold Funds in an amount not ro exceeci the lesser amount. -
<br /> , � Lendcr may estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future —
<br /> Escrow Items or otherwise in accordance with applicable law.
<br /> The Funds shall be hcicl in an institutian whose deposits are insured by a federal agency, instrumentality, ar entity
<br /> '�:i f.:���'. (includins Lendcr, if Lender is such en institution)or in uny Federal Hornc Loan Bank. Lender shall apply the Funds to pay the
<br />-��.a y..�;, g�zi••w ssen,�. l.ender may not char�e Borrower for holcting and applying the Funds,annually analyzing the escrow account,or
<br /> t`;:����,;_: �, verifying the Escrow Itcros,unless I.ender pays Borrower interest on the Funds a�«I upNii�bl�1ak F�rmit�LPIIder m ninke sueh
<br /> ='-`^'��',-••��'�''� a chargc. However, Lender may reyuire Borrower to pay a one-time charge for an independent real estate tax reporting service
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<br />-:�;+���-��',.:;. used by L.ender in connection with this loan. unless applicable Isw provi des o t her w i s e. Unless an a greement is ma e or
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<br /> .,. applicable law requires interest to be paid, L,ender shall not be required to pay Borrower any interest or eamings on the Fun s.
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<br /> i.��ar:�y_k��� Honower and Lender may agree in writing, however, that interest shall be paid on the Funds. I.ender shall give to orrower,
<br /> ,___�{„� without charge.an annual accounting of the Funds, shawing credits and debits to the Funds und the purpose for which each
<br /> - - debit to the Funds was made. The Funds are pledged as additianal securiry for all sums secured by this Securiry Instrument.
<br /> �:,F;� lf the�unds held by Lcnder exceed the amounts permitted to be held by applicable law,Lender shall account to Bonawer
<br />-- '-'•�� for the excess Funds in accordunce with the requirements of applicable law. If the amount of the Funds held by Lender at any
<br /> -R;� time is not sufficient ta pay the Escrow Items when due, L.ender may so notify Borrower in writing,and,in such case Borrower
<br /> - - shall pay to Lender the amount necessary to make up the deficiency. Borcower shall make up the deficiency in no more than
<br /> twelve monthly payments,at Lender's sole discretiun.
<br /> �� Upon payment in full of all sums secureci by this Security Instrument. Lender shall promptly refund to Bonower any
<br /> -- _--- Funds held by [.ender.If,under paragraph 2l, L.ender shall acquire or sell the Property,Lender, prior ro the acquisition or sale
<br /> -_- of the Property,shall apply any Funds hcld by L.ender at the time of acquisition or sale as a credit against the sums securcd by
<br /> _��,;;,� this Security Instrument.
<br /> --- �_,;,� 3. AppNcation of Payments. Unless applicablc law provides otherwise,ull payments reccived by l.ender under parugraphs
<br /> _ `����¢� 1 and 2 shall Fx applied: fitst.to any prepayment charges due under the Note; �r,�ond,ta a�uounts payable under paragraph 2;
<br /> �--- - third,to interest due;fourth, to principul duc:and last,to any late charges due under thc Note.
<br /> w�TT� 4. Charges; Liens. Borrower shall pay all taxcs, ussessments,charges, fines and impositions attributable ro the Pr�peny
<br /> �....;>""� which may attain priority over this Security Instrumcnt, and leasehold payments or ground rents, if any. Borrower shall pay
<br /> .-�r,'.�� these obligations in thc manner provided in puragraph 2,or if not paid in that manner,Borrower shall pay thcm on time dircctly
<br /> '�'�`�'�-� to the person owed payment. Borrower shull promptly furnish to Lender all notices of amounts to be paid under this paragrnph.
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<br /> .��.�::�,. If Borrower makes thcse payments directly.Borrowcr shall prompdy furnish to Lender receipts evidencing thc paymcnts.
<br /> -•^,8:, . . Borrower shall promptly discharge any licn which has priority over this Security Instrument unless Borrower: (u)agrees in
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<br /> - = ';� � writing to the payment of the obli ga;ion secureJ by the lien in a manner acceptable to Lender: (b)contests in good faith the ien
<br /> �• �'��+��P� by, or defends a�;ainst enforcement of the lien in, legal proccedings which in the Lendcr's opinion aperatc to prevent the
<br /> �•ti enforcement o(thc licn; or(c)secures from thc holdcr of the lien an agreemcnt satisfactory to Lendcr subnrJinating the licn to
<br /> � „ ."; this Security Instrumcnt. IF L,cndcr determincs that :+ny pan of the Propeny is subject t�� u licn which may uttain priarity over
<br /> -• this Security Instrument, Lendcr rnay givc Borrower a noticc identifying thc licn.Borrower shall satisfy the licn or take one or
<br /> � more of the 3ctions set forth above�vithin 10 days of the giving of notice.
<br /> ' Form 3028 8l80
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