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<br /> t � T0t3@THBR WITH all thc improvementa now or het+eafter erected on the prupeny,und a�l eus°ertT�mta, p i�ine�5 d
<br /> � .� flaturea naw or horeafter u pazt of the pmperty. All replacements and uddiNons ahall ulso be covered by thia Secudry
<br /> � � Instrument.All of the foregoing is referred to in chis Secudty Inatrumentas the"Property."
<br /> � . .t BORROWER COVBNANTS that Borrower la IawtWly selsed of tho estate hereby wnveycd and has the rlght to grant and
<br /> convey the Property and thut the Property ia unencumbered. except for encumbrunces of record. Borrower wnrrants�u►d will _
<br /> ' , defend generatly the Ude to the Propeny tiguinst�l!cinlms and Aemonds,subject to uny encumbrances of reconi.
<br /> � THIS SECURITY INSTRUMBN7'combinea uniform covenanta for nuttonnl use and non-uniform covonants with limited
<br /> ..' t.� variations by judsdictton to oonstitute a uniform securlty inscrument covedng real property.
<br /> UNIFORM COVENAN'E'S.Borrower and Lender covenant and agrce as follows:
<br /> � ��4.•�? "� 1. Payment of Pr[nc(pal nnd InteeeSt; Prepayment artd Late Charges. Borrower shnll promptly pay whan dua the
<br />' "``.'`�` � principal of nnd interest on the debt evidenced by the Note and sny prepayiteent�td late churges due under the Note. -.
<br /> - 2. FLnds tor Tpxes and Insur�nee. Subject to applicable law or to a written w�iver by I.ender. Borrowar shnll pay to
<br /> ae� . Lender on the day�nonthiy puyments arc due uader�he Note,unUl the Note is paid in full.a sum("F+�ads")for:(a)yearly tnxea
<br /> • .t and assessments wbich rtiay attala priority over this Securlry Instnunent as a lien on the Property;(b)yearly leusehold paymants -
<br /> • �, ' or ground reats on ttte Property,if any; (c)yearly hazard or praperty insurance premiums;(d)yeariy flood tnsurance premiume,
<br /> if eay;(e)yearly mongage iasurance premiumg. if any; and(�any suma payable by Borrower to I.ender, in Accordance with
<br /> the provisIons of paragrapb 8. !n lieu of the paymeat of mortgage insurance premiums.These items s¢e called'Fscrow Items."
<br /> � Lender may. at any dme, collect and hold Funds in an amount not to eacced the maximum amouat a lender for a federally
<br />- . . • related mortgage loan may require for Horrower's escrow account under the federal Real Estate Settlement Procedures Act of
<br /> ='�� 1974 as amended from time to dme, 12 U.S.C. Sectloa 2601 et seq. ('RESPA'),ualess another law that applios to thQ Funds
<br />.�:.�
<br />�}"i�:,��_: ` sets a lesser amount. If so,Lender may.at any ttme. coUect and hold Funds in an amount aot to exceed the lesser amount.
<br />- , ,_ l.ender may estimate the amouat of Funds dae on the basis of currcnt data and masflnables eatimatcs of ex�endiwr�ea af futune
<br />° &crow Items or otherwise in aaordaace with applicable law.
<br />-=, . .� �.� � The Fnnds shall be held in an insdtutlon whose depos3ts are imured by a federal ageacy, inssrumentality, or entlty
<br />__ (including Ixnder.if I.ender is such an iastitudon)or in any Federal Home Loan Bank.Lender shell apply the Funds to pay tha
<br /> - -`�•-�=� Escrow Items. Lender may not charge Borrower for holding and applying tLe Funds,annually analyziag tbe escrow accaunt,or
<br /> �.t., ,
<br /> ��� � ,,�: verlfying the Fscrow Items.unless Leader pays Borrower interest on the Fuuds and applicablB law permits Lender to make sueh
<br />�:�:':��,�°:;,;° '� a cherge.However. Leuder ozay require Borrower to pay a one-time eJ�arge for aa independeat mel estate ta�c reporting service
<br /> ��^•�',. ' used by LEnder in connec�ion with this loan, unless applicable law prov[des atherwise. Unless an agreemeat Is made or
<br /> F"�:`�`•' � �" appllcable law requires intcrest to be paid,Lender shall not be required w pay Borrower any interest or earinIngs on the Funds.
<br /> _ :,�
<br /> -=�%�=���' r Borrower aad Lender may agrec ia wrlting. however.that interest shall be paid on the Funds. Lender sball give to Borm�ver,
<br />-�'•_`��;;,,`:., without ctiarge. an annual accouating of the Fands,showing credits and debits to the Funds and the pwpQSe for which each
<br />-=��:��:�'*�� debit to the Funds was made.'I'he Funds are pleflged as additional securiry for all suma secured by thie Secari.tpr fnsuumens.
<br />"�_-�':;;�=�s:���� If the Funds held by Leader exceed the amoums pemtitted to be held hy appficable law,I,�eader shql!'�o¢a+nt to Bomo�ver
<br /> _���.�T;��� for the exa:ss Fundc in acr,�r+dance with the reqalremeats of apg�'sc�ble la�.t�.If!he awount�o£���unds 6c��fiy Lcadar�t�y
<br /> ----- ame is aot suffccient to pay the Escrow items whea due.Leader mt�r so aoNfy Horroaer in�w�tmg, and. ln suc�case Barrower
<br /> -=`°'°_�Y�� shalt pay to I.ender ihe amount nec�ssary to make up the deRclency. Bomower.shaU malce up tDe dcficeeuay in no m�re tliau
<br />�:��� twelve monthty payments,at Lender's sole discret�on. .
<br /> . ������ Upon PayaQent in ftiU af al! sums secured by this Secudry instrument. Ex�nder shall pr+omptiy tsfund ta Bornower a�y
<br /> lNnds held by Lcader.If. under paragraph 21,Leader shall acquire or sell the Property.Lender,pROr tm the acquisition or s�Se
<br />--- -�-- of the Ptaperty,shall apply any Funds 6eld by Lender at the time of acquisidon or sate as a cradIt�ageinst the sums secuned by
<br /> ___.._.,,.� th3s Securlry Iasuument.
<br /> --�-�- 3.ApplIcation of Payments. Unless applicable law pmvtdes otherwise,all payments rtceived by Lender uader paragraghs
<br /> — 1 and 2 shall be applied: fust, to any prepaymeat charges due under the Note; seoond,to au�o p�y,_ je xupder paragraph 2;
<br /> thtid,to interest due;founh,to principal due;and last,to any late charga due under the Note.� 1��:���
<br /> -- 4.Cbau��;Lieas. Bomower shall pay a11 taxes,assessments.charges.fines and impositlons atdributable to the Property
<br /> -�-�= whlch may ettain prlosity over this S�urity lnsuument. and leasehold pa�rments or ground tents. if aay. Bon�ower shaU pay
<br /> - l--_� tttese obligadons in the manuer provIded in paragtaph 2,or if not paid in that mrnner,Borrower shall pay tbem on[ime diroctly
<br /> ----_-= to the person owed payment,Bon+ower shall pmmpdy fiunish to Ltnderall notic�s of amouats to be paid�under this paragcaph. �
<br /> - -- _ If�orrower makes these payments directly.Bo:rower shall promptly fvrnish w L�Atter receipu evldencin�the payarentg. '
<br /> _��=.�_= Borrower ahall pmmptly discharge any Iten which has prIority overthis 5ecurIty Insaument ualess Bormwer:(a)agmes in
<br /> writiag to tpe paytnent of the obllgatIoa secured by the lien in a manaer aoceptable to Leader;(b)cantests ia good faith the Itea
<br /> _:,�,�� by, or defentls against enforcement of the (ien la. legal proccedings which in the Lender's opLuon operate to prevent the
<br /> -- enforcement of the lien;or(c)secures from the holder of We llen an a�greement s�,�tisfaaory to Lender sulwr�dinating the lien to
<br /> , _ — this Security Instmment. If Lender determines that any part of thc Property is subject to a lien which may attaUt priority over
<br /> -- �z,.:.` � this Security Instiument.Lender may give Borrower a notice identify'r�g tlte lien.Borrower sD�atl satisfy the lien or take on8 or
<br /> _---j��-'�,�� more of the acttons set forth above wichnn 10 days of the giving of notice.
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