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<br /> �•x.` TO(3ETHER WITH a11 the improvem.nta now or hereaher erected on the praperry, and all easements,nppurtenances,and
<br /> � , Bxtures now on c�rcafter a part of the praporry. All replacements And additions shall also be covcred by this Security
<br /> � Instrument.All of the foregofng is rcfened to in this Sccurity Instrumrnt as the"Property." --_
<br /> BORROWER COVENANTS that Bonower is lawfuUy scised of the estate hereby canv�yed and has thc right ta grant and
<br /> ;;� convcy the Property and that the Propcny ia unepcumbered,except for encumbrances of record. Bonower warrants and will�
<br /> defend genernlly the title to the Property agAinst ell claims and demands,subJect to uny encumbranas nf recor6.
<br /> e� u. • THIS SECUItITY INSTRUMSNT combines�uiiform covenants for national use and nan•unifortn covenants with limi�ed�
<br />� ; ;� vuriations by jurisdtction[o constitute a uniform s�curity instrumcnt covering real property. �
<br /> _�,�� UNIFORM COV6NANT5.Bonower and l.ender covcnant and agree as follows: �
<br /> :��„ 1. Payment of Prlmiptl And Intere.st; Preps�yment and Late Gharges. Borrower shall promptly pay when duc Ilt�
<br /> principal of and intercst on the debt evidenced by tde Note and any prepayment and late charges due under the Note.
<br /> ••:�� 2. Ftiods for Tsuces and IngurAnce. Subject to applicable law or to a written waiver by I.eader, Borrower shall pay to�
<br />_ L.ender on the day monthly paymeats arc due under the Note,until the Note is paid in full.a sum("Funds")for:(a)yearly ta�ces
<br /> • and assessments which may attain pnoriry over this Se�urtty Instnuaent as a lien on the Property; (b)yearly lcasehold payments
<br /> ' or ground reats on the Property,if aay;(c)yearly hazard or propecry f�uurance premiums;(d) yearly flood insurance premiums,
<br /> �'' � if any; (e)yeazly mortgage insurance premiums,if any; and(�any sums payable by Borrower to Lender, in accordence with
<br /> .�•`.,:`: ' the provisions of paragraph 8, in lieu of the payment of mortgage insurance premiums.These items are called"Esarow Itcros.'
<br /> `�`: ��` Leader may. at any time,collect and hold Funds in aa aznount not to exceed the maximum amount a lcnder for a federally
<br /> �,.:,;_�`•: relatcd mortgage loan may require for Bottower's escrow account under the federal Real Estate Settlement Prooedurac Act of
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<br /> �� 1974 as amended from time ro time. 12 U.S.C.Sectioa 2601 et seq. ("RESPA'),unl�,ss another law that applics ro the Eun
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<br /> rns. • sets a lesser amount. If so, l,ender may, a[any time, collxc and hold Funds In an amount not w excad the esser aunounc.
<br /> °::j;�f. Lender may estimau We amount of Funds due on the basis of cwrent data and reasonable estimates of expendimres of future °
<br /> w�`� Escrow Items or oWerwise In accordana with applicable law. -
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<br /> ����{.."� The Funds shall be held in an institudon whose deposiu are insured by a federal ageacy, instiumentaliry, or entity
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<br /> --— (including Lender, if Lend�r is such an institution)or in any Federal Home I.oan Bank.l.ender shall apply the Funds to pay the
<br />;;� Escrow Iteau. Lender may not charge Borrower for holding an d app ly i ng the Funds.annuslly anal y�ng tt►e escrow account, or
<br /> �-�'�� verlfylag the Bscrow Items,unless Lender pays Hotrower interest on the Funds and applicable law permiu Lender to make such
<br />°� a charge.However,L.eader may require Borrower to pay a one•time charge for an iadependent real estate tax reporting service
<br />-==�s� used by Lender in connectlon with this loan, unless appllcable law pmvides otherwise. Unles� an agroeinent is made or
<br /> � --�� applicable law requires interest to be paid,Lender shaU not be reqt►ired ta pay Bonower any intenst or earaings on the Funda.
<br /> Borrower and Leader may agree in writing,however,that intenst shall be paid on the Funds.Lender shall give to Borrowez.
<br /> without charRe,aa annual accnunting of the Funds. showing credits and debits to the Fuads end the purpose for wbich each
<br /> debit to the Fuads was made.The Fuads aze pledged as addidonal security for aU sumis secured by chis Sxiuiry Iusirumcut.
<br /> If the Funds held by Lender excad the amouats permittod to be held by applicable law, Lender shall account to Boaower
<br /> for the excess Funds in accordaace with the requirements of applicable law. lf the amount of the Funds held by Lender at any
<br /> time is aot sufticlent to pay the Escrow Items when due. Lender may so nodfy Borrower in writing,and,in such case Bormwer
<br /> sh�ll pay to Lender the amount neassary to make up ttie deficIency. Borrower shall make up the deficiency in no more thaa
<br /> twelve monthly payments,at Lender's sole discntion.
<br /> _ Upon payment in full of all sums soeurod by tdis Security Iastcument. L,ender shall pmm�tly refund to Borcower any
<br /> Funds held by Lendar.If,under paragraph 21. Leader shall xquire or sell the Property,Lender. prior to the acquisldon or salo
<br /> of tbe Property,shall apply any Funds held by Lender at tbe cime of acquisition or sale as a credit against the sums socund by
<br /> thia Securiry lnstrument.
<br /> 3.Applkatfon ot P�yments.Unless a�►plicable law provides otherwise.all payments t�xeived by Lender under paragraphs
<br /> 1 and 2 shall be applted:first. to any prepaymeut ctiuges duc uader the Nou;second, to amounta payable under pangraph 2;
<br /> thiM.to interest due;fourth.to principal due; and last,to any late charges due under the Note.
<br /> 4.Ch�r�es; Ltaos.Borrower shall pay all taxes,assessments. charges. �ines and imposidom�attributable to the Pruperty
<br /> which may attafa pr[ority over�his Security Instrument. and leasehold payments or ground reata,if any. Borrower shi11 pry
<br /> these obligu[ons in tt►e m�nner providal in paragcaph 2,or if not paid in that muwcr.Soaower s1W1 pay them on Nme dir�xtly
<br /> to the peraon owal paymeat.Borrower ahall pmmptly furnish m L.ender all noNces of euaunts to be p�id under this paragraph.
<br /> Tf Borrowcr mnkes these paymenta directly.Borrower shall promptly famish to Lender reteipts�videncing the paymeats.
<br /> - Sorrower shall prompdy discharge any lien which has priority over th9s Sxurlty Insuument unless Borrower:(a)a�rxs in
<br /> wridag to the payment of the obllgation secured by the lien in a manner a�xepuble to L.endsr;(b)oontats in good faith the lioa
<br /> by, or defends against enforcement of We llen ia. legal procadings which in the L.eader's oplaion operate to preveat the
<br /> enforcement of the lieq;or(c)secuns from the holder�f the 1[en an agrament satlsfxtory to Lender subordlnattng the lien to
<br /> this Securlty Iastrument.If Lender determines tbat any part of the Property is subject to a iiea which may attain prlo[ity over
<br /> this 5ecutiry In3trumeat.Lendar may g9ve Borrower a notice identifying the lien.Borrow�r shall�tisty the 1[en or take one or
<br /> more of the acdons set forth above within 10 daya of the giviag of notice.
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