|
.J� l.
<br /> i
<br /> "FdItE.
<br /> ���
<br /> i_r..
<br /> ' ' ., • ' -+.��•
<br /> , ' . .. _ f ' _ >. ` ` - ..
<br /> . �. . .._s'..
<br /> •ir.
<br /> . . . ;�,
<br /> I „ `r:
<br /> �:
<br /> 'n�:
<br /> I J•
<br /> I
<br /> TOGETI�R liVITH all thc improvemcnts now on c�rcaftcr crectcd on thc �ro�crry, and all casemems, appurtcnAnce.c, nnd 4
<br /> �xtures now or hereafter u part of the property.AQ replacements and additions shall also be covered by this Security Instrument. .�' -
<br /> '+�
<br /> All of thc forcgoing is rcfe�rcd W in this Security Instrument as the"Property." � ° , �7�
<br /> ` ,4 BORROWER COVENANTS�hat Borrower is lawfully sciscd of the estate hereby comeycd nnd has ihc nBht w grant and� , _-;___-
<br /> convey the Praperty and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will � ' `"'
<br /> defend generally the dde to the Property against all claims end demands,subject to uny encumbrances of record. ''�=
<br /> THIS SECURITY INSTRUI►�NT combines uniform covenants for nationnl use and non-uniform covenants with limited � "" �.-�__-_ _
<br /> variations by jurisdicuon to constitute a unfform sectuity instniment covering real property. �`� �_
<br /> o ��=�
<br /> � UNIFORM COVENANTS.Borrowcr and Lender covcnant and agrec as follows: --
<br /> .� 1.Payment ot Principal and Interest;Prepayment and Late Charges. Bonawcr shall prompdy pay whcn duc thc � ��.�--
<br /> principal of and interest on the debt evidenced by tho Note and any prepayment and late cha�ges due under the Note. Q � �s•
<br /> � 2.Cunds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lcndcr, Borrower sl�all pay to -_
<br /> . Lender on the day monthly payments are duc under the Note,unW the Note is paid in futl,a sum("Funds")for:(a)ye�uly ta�ces `;�;-_��::
<br /> and assessments which may uuain priority over this Securiry Instrumcnt as a ticn an thc Property;(b)ycarly lcaschold paymcnts "-
<br /> ���,,-
<br /> or graund rents on thc Property,if any;(c)yearly hAZard or property insurance prcmiums;(d)ycarly flood insurancc premiums,if >•
<br /> ._.���;.
<br /> any; (e)yearly mortgage insurance premiums,if any; and(� uny sums payable by Borrower to Lender, in accordance with the �•�"•;�
<br /> provisions of paragraph 8, in lieu of the payment of mortgage insurance premiums.The.ee items are called "Escrow Items." �
<br /> � Lender may,at any time,coUect and hold Funds in an amount not to cxcccd thc maximum amount a lender for a fedcrally related •�^�-�.'`�
<br /> mortgage loan may require for Borrower's escrow account under the federal Real Estute Setdement Procedures Act of 1974 as ���
<br /> amended from tirne to dme,12 U.S.C.Secrion 2601 er seq. ("RESPA"),unlcss another law thut applies to the Funds scts a lesser �,:ir�
<br /> emounG If so, Lender may,at eny time,collect and hold Funds in an amount not to exceed the lcsser amounG I.ender may :`''����
<br /> �� estimatc the amount of Funds due on the basis of cunent data and reasonable cstimatcs of cxpenditures of future Escrow Items or �'�n' �....
<br /> otherwisc in accordancc with applicablc law. ��; '^���.`
<br /> The Funcis shall be held in an institudon whose deposits are insured by a federat agency,instrumentality,or entity(including '`�'•` '�"
<br /> � �.���. _
<br /> i�n�rr,jf T en�lrr iu cii_r.F� � jnc�i(���innl �T ��1 etly Fedrr3l HomC L4R[1 B3nk. L�ndC!SlsRll 8j?j!!y lhe FuAd° tQ p3� !he F.�io::� . 61�,.,�!'�,�,`�-
<br /> ?tems.Lender may not charge Borrowcr for holding and applying the Funds,annually analyzing the escrow account,or verifying " ��.,�
<br /> . the Escrow Items, unlcss Lcnder pays Borrowcr interest an thc Funds and applicablc law permits Lcnder to make such a chazge. •'����:
<br /> However,Lendcr may require Bonower w pay a one-timc chargc for an independent real estate tax reporring scrvice used by ��=
<br /> Lender in connection with this loan,unless applicable law provides otherwise. Unless an agrecment is mede or applicable law ; '`�'�
<br /> requires interest to be paid,Lender shaU not bc requued to pay Bonower any interest or eamings on the Funds. Borrower and '��
<br /> L.ender may agree in wridng,however,that interest shall be paid on tha Funds.I.endcr shell give to Bonower,without chargc,an -�
<br /> , annual eccounting of the Funds,showing credits and debits to thc Funds nnd the purposc for which cach debit to the Funds was '`�''
<br /> madc.The Funds are pledged as addiaonal sccurity for all sums secured by this Secudry Instrumen�
<br /> ' If the Funds held by L.ender cxcced the amounts permiued to be hcld by applicable Iaw,Lcnder shall acwunt to Borrowe,r far
<br /> the excess Funds in accordance with the requirements of applicable law.If the amount of the Funds held by Lender at any time is – �
<br /> not sufficfent to pay the Escrow Items when due,Lender may so notify Borrower in writtng,and,in such case Borrower shall pay
<br /> to I.ender the amount necessary w make up the de�ciency. Borrower shall make up the deficicncy in no more than twelve
<br /> " monthly payments.at I.cnder's solc discretion. -
<br /> Upon payment in full of all sums secured by this Security Instrument,Lender shall prompdy refund to Bonower any Funds -
<br /> held by I..ender.If, undcr paragraph 21,Lender shall acquue or sell the Property,Lender, prior to thc acquisiuon or salc of thc -
<br /> Property,shall apply any Funds held by Lcnder at thc time of acquisiuon or salc as a credit against the sums sccured by this -��—
<br /> Sccurity Instrument� .�_ - _.
<br /> � 3.Application ot Payments. Unless applicablc law provides othcrwise,all paymcnts received by L.endcr under paragraphs =
<br /> 1 1 and 2 shall be applicd: first, to any prepayment charges due under the Note; sccond,to amounts payable under paragraph 2; - ._..,...�,.
<br /> third,to interest due;fourth,to principal due;and last,to any late charges due under the Note. ���,�.�.
<br /> i 4.Charges;Liens. Bonower shall pay all taxes, asscssments,cl�azgcs, fincs and impositions auributablc to the Property `�
<br /> ' I which may ausin priority ovcr this Securiry Instrumen6 and lcaschold paymenis or ground rents,if any.Borrowcr shatl pay thesc �*r��
<br /> i obligations in thc manner providcd in paragraph 2,or if not paid in that manner,Borrower shall pay dicm on timc d'ucctly to thc ��:•�r '��'� �
<br /> � person o�vcd payment. Borrower shall promptly furnish to L.endcr all nouces of amounts to bc paid undcr this paragraph. If ''�^` t, :'�.'.
<br /> 1 Borrowcr makes these payments d'vectly,Borrower shsill prompdy furnish to L.ender receipts evidencing the payments. '';`,�;:
<br /> Boaowcr shall prompily dischazge any lien which has priority over this Sccurity Insnvment unless Borrower: (a)agrces in
<br /> I writing tn the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)contests in gooei faith the lien � '
<br /> by, or dcfends against cnforcement of thc lien in, (cgal procccdings which in thc Lcnder's opinion operatc to prcvcnt the � �.
<br /> enforcement of the lien;or(c) secures from the holder of the lien an agreement sausfactory to Lender subordinaan�the lien to i
<br /> this Security Instrument.If Lender determines that any pan of the Property is subject to a lien which may attain prioriry over U�is
<br /> ! Security Instrmncnt,Lcnder may givc Borrower a noticc idcntifying ihc lien. Bonower shall sadsfy thc licn or take one or more � •
<br /> � of the acaons set forth above within 70 days of the giving of notice. i ,
<br /> f
<br /> Form 3028 9/90 �
<br /> J 1��•BR(NEI�o�i��n� ca...�.,ia ___
<br /> i � . . � _- _ ..,.�.e.:. i .---—_.—._---..
<br /> . �
<br /> - _ __ _ _
<br /> �_ __
<br />
|