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<br /> � �!• TOG�THER WlTH aU the improvements now or hereafter erec:ted on the propercy,and all ease:rtxnts, appuhenances, and �'
<br /> � ;1� fixturrs now or hereafter a part of the propeny. All replacements and additions sli�ll also be covereci by this Sc�c:urity `J
<br /> Instrument.f►11 of the foregoing is referred to in this Security Instn�ment as the"Property,'
<br /> � BORROWER COVENANTS that Borrower(s IawfuUy seisecl of the estute hereby conveyed and has the dght to grant and ■`�:=
<br /> � '-� c;onvey the Property and that the Property is unencumbered, except for encumbrances of r��cord. Bc�rrower warrants and will -
<br /> � i defend generally �he title ro the Property against all claims and demands,subject to any encumbrances of record. ��_
<br /> THIS SECURITY [NS'fRUMENT combines uniform covenants for national use and non-uniforni cavenuus with limited =
<br /> - , -���� variations by jurisdictlon to constitute a uniforrn sxurity instcument covering real�ruperty. • _
<br /> � UNIFORM COVENANTS. F3onower and Lender covena�t and agree ss follows: _
<br />_� � 1,PAyment o[ Principal and Interest; Prepayment end Lute Chargcs. Boaower sb�ll,;pry�►�tly p�y when dur, the _
<br /> *. principal�f and interest on the debt evidenced by the Note and any prepayment and lete ahi�ge�duevnd�r the Note.
<br /> . ��� 2,F'unds [or Taxrs and Insurance. 5ubject to applicable law or to a written waiver by L.cnder, Borrower shall pay to `
<br /> � '�' ' Lenderon the day monthly payments aze due under the I1ote, until the Note is paid in full,a sum("Funds")for:(a)yearly taxes
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<br /> and assessments which may attaln priority over this Security Instrument as a lien on�he Propeny; (b)yearly l�asehold pa�ments
<br /> or grouad rents on the Property,if any; (c)yeazly hazard or property insurance premiums;(d)yearly tlood insurui�e pre�m�a�?
<br /> if any;(e)yearly mortgage insurance premiums,if any; and (� any sums payable by Borcower [o Gender, in accordanec��itlb��4
<br /> . the pmvisions of paragraph 8, in lieu of the payment of rnortgege insurance premiums. 7hese items ue called"�3cioMi�k�s}f
<br />=' � Lender may, at any time, collect and hold Funds in an amount not to exceed the maximum aznount a lender fbr f�'�fllly
<br /> � related mongage loan may require for Borrower's escrow account under the fetiera!Real Eatate 5ettletxx����ineeduiresl,p{at16D!;t 1 �
<br /> 1974 as amended from time t�time, 12 U.S.C.Section 2601 et seq. ("RESPA"). unless ano[her law that applies to the Funds
<br />' sets a lesser amount. lf so, L.ender may, at any time, collect and hold I'unds in an arnount not to exceed the lesser amount.
<br /> Lender r_iay estimate the azrAUnt of Funds due on the basis of cuaent data and reasonable estimates of expenditures of future
<br />=- �`•1� Fscrowitems or o�herwise in accordance with applicable law.
<br />� The Funds shall be held in an institution whose deposiGZ are insurer.i by a federal agency, in�tn�mentality, or entity
<br /> "�°�f���' (includins Lendcr,if I.endcr is such an institution) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the
<br /> 1'�.••' : � Escrow Items. L.ender may not charge Borrower for holding and applying the Funds,ar�nually analyzing the escrow account,or
<br /> -'" " verifyfng the Escrow lter►u,unless Lender pays Borrower interest un the Funds and opplicable law pemuts L,ender to make such
<br />— '� a charge. However, Lender may require Bonower to pay a one-time charge for an indcpendent real estate tau reporting service
<br /> , used by I.ender in connection with this loan, unless applicable law provides otherwise. Unless an agreement is made or
<br /> --- �• _ :.��!ir�,hle!»:u r��ims ir.tPrest te re gA�d,1 r_.nAer �hall nei be required to Qay Borrower any interest or eaminRs on the Funds.
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<br /> � . , Borrower and I.ender may agree in writing,however,that interest shall be pafd on�he Funds. Lender shall give to Borrower,
<br />�.51,` 1;.;:, without charge, an annual accounting of t�e Funds,showing credits and debits to the Funds and the purpose for which euch
<br /> - � debit to the Funds was made.The Funds aze pledged as additional security for all su�secured by thts Security Instniment.
<br /> 1�.•�-�:;��`'.„ , If the Funds held by I.ender rxceed the amounts perniltted to be held by applicable IQw,Lender shall account to Bonower
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<br /> `� ' for the excess Funds in accordance with the reqairements of applicable law. If the emqunt of the Funds held by I.ender at any
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<br /> s•. , • time i�not sufficieat to pay the Escmw Items when ctue, Lender may so notify Bormwer in writing, snd.in such case Borrower
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<br />-- �_� .. . shall p�y ro Lender the amount necessary to rndce up the deficiency. Borrower sh�ll rneke up the deficlency ln no morc than
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<br />-,,:.,: .- twelvemonthly payments,at Lender's sole discretion,
<br /> =t_�`� Upon paymrnt in full of all swns secured by this Security Instrument,L.ender shall prompdy refund to Borrower any
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<br />�a='ti��;.�� ` Funds deld by[.rnder.!f,under pazagraph 21,Lender shall acquire or sell the Projxny,Lender,prior to the acquisition or sale
<br />+"'��`��=� of the Property. shall apply any Funds held by Lender at�he time of acquisition or sale�s a credit against the swns secured by
<br />�,J����.'� this Sauriry Instrument.
<br /> -�'"�_,:;�,.�� 3,ApplIcatioa ot Payments.Unless applicable law provides otherwise, all payments received by I_endetunder paragraphs
<br />�:« '�� 1 a�d 2 sball bc opplied: first,to any prepayrnent chazges due under the Note;serond.to uttwunts payable under puagraph 2;
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<br />"�yz�- ,� third,to interest due;fourth,to principal due; and las�,to any late charges due under ihe Note.
<br />"�5�: `f: q,�harges;Liens. Borrower shall pay all taxes, assessments, charges, fines md impositions attributable to the Propenty
<br />'����" �= l which may attain priority over this Securiry Instrument, and leasehold paymrnts or ground rents, if any. Borrower shall pr�y
<br /> w���.�.- these obligations in the manner provided in pazagraph 2. or if not paid in that manner, Borrower shali pay them on time direcdy ¢
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<br />--. :_.,_,:+,.,.�;..; ro tL�e person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph.
<br /> If Borrower makes these payments directly,Bottower shall pmmptly fumish to L.ender receipts evidencing the paymmts.
<br />`���� Borrower shall promptly discharge any 1 ien which hu priority over this Securiry Instrument unless Borrower:(a)agrees in
<br />_;`�`�im* •�� writing to the payment of the obligation secured by the lien in a mahner acceptable to Lender;(b)contests in good faith the lirn
<br /> __-'-'7"�`--� by. or defends against enforcement of the lien in, legal proceeclings which in tbe Lender's opinion operata to prevent the -
<br /> �� � enforalnent of the lien; or(c)secures from the holder of the lien an agreement sadsfactory ro Lender subordinating the lien to _
<br />_ • � this Sxuriry insttument. If i.ender determines that any part of the Propeny is subjxt to a lirn which may attain priority over =
<br />- this Stcuriry Iustnzment, Lender may give Borrower a notice identiP�ing the lien. Borr�wer shall satisfy the lien ur take one or �
<br />' ' ►mre of the actions set forth above within l0 days of the giving of notice. �`
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<br /> �'. Form 302� �.
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