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<br /> '�-���� TO(3�TN6R WITH wll the irnprovements now or hereafter�rected on the propeny,and all easements,appurtenances,an �
<br /> °;,4,w�=�i fixtures now or hereaftfr a part of the property. All rewlacemants and addidons shall also be covend by this Security
<br />,;�;a;,, Instrument. All of the faregoing is roferred to in this Securlty Instniment as the"Property." .
<br /> �`=.�,�:;` BORROWBR COV'ENANTS ihat Borrowcr is lawfully sclsed of thc estate hereby conveyal and has the right ro grant and
<br />�"`�':. t convey ►hc Pcopeny and th�t the Property is unencumberexi, eacept for encumbrances of record. Borcower warrants and will
<br />-.' � � defend generally the dtle�o the Property against all daims and demands,su6jcct to any encumbrances of rewrd. �
<br />�„�r''��� THIS SECURITY INSTRUMENT combines«niform cavenams for national use and non-uniform covenants with limited
<br /> .. . variations by jurisdiction io constitwe a uniform s�curity instrument c�vering real propeny.
<br />'�"�:�='' • UNIFORM COVENANTS. Horrower and Lencler covenant and a�rce as follows: �_
<br /> 1. PAyment of Ehrincipnl �nd Interest; FrepRyment and I.�te CI►Arg�s. Borrower shall promptly pay when due thc —
<br /> � � ��-�'��� principal of and intcrest on the debtevidenced by the Notc and any prepayment and late charges due under thc Notc.
<br /> __,_�. 2, Ftincis for Twxa and Insurwnce. SubJect to applicable law or to n written waiver by I.endcr, Borrower shall pay to
<br /> .- , L,ender on the day monthly paymenu are due under the Note,until the Note is paid in full,a sum("Funds")for:(a)yearly taxes
<br /> • '�k• and assessments which may attain ptlority over this Security Instrurnent as a lien on the Property;(b)yearly leasehold payments
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<br /> ;.�:;;a�;,> or ground rents on the Propeny, if any;(c)yearly liazard or property insurance premiums; (d)yearly ilood insurance premiums,
<br /> �'�t�'� � if any; (ej yearly mortgago insurance premtums, if any; and (�any sums payable by Borrower to Lender,in accordance with
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<br /> --?�.";'f the provisions of paragraph 8,in lieu of the payment of mortgage insurance premiums. These items are called "Escrow Items."
<br />-Y--=^'�—.= l.ender may, at any tinu, collcct�nd hold Funds in an amount not to exceed the maximum amount a lcnder f�r a f�derally
<br />�•'�-�.;r�`'�,,-;�y'� relatul mongage loan may require for Borrower's escrow account under the federal Real Estate Senlement Procedures Ac[ of
<br /> __ — 1974 as amended from time ro time, 12 U.S.C. Section 2601 rr seq. ("RBSPA"), unless another law that applies ro thc Funds
<br /> "`�. sets a lesser sunount. lf so, I.endtr may, at any time, collect and hold Funds in an amount not to exceed the lesser amaunt.
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<br />- - --,-.�._ Lender may estimate the amount of Funds due on the basis of current da�a and reasonaUle estimates of expcndimres of future
<br /> Escrow Items or otherwise in accordance with applicabla law.
<br /> ��:'�---,� -'�,`� The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity
<br /> (including Lender,if l.ender is such an institution)or in any Faleral Home Loan Bank. Lender shall zpply the Funds to pay the
<br /> _.,;�;,m�s Escrow Items. I..ender may not chuge Bonower for holding and applying the Funds, annually analyzing the escrow account, or
<br /> v�rifying the Escrow Items,unlesa Lender pays Bonower interest on the Funds and applicablc law permits Lender to make such
<br /> —� a chuge. However, I.ender may r�quire Boaowcr to pay a ono-tirne charge for an independent real estate iax reponing service
<br /> _- _ usal by Lender in co�nnection with thls loan, unless applicable law provides otherwise. Unless an agreement is made or
<br /> applicable law c�equires interest to be paid, L,ender shall not be requircd to pay Bonower any intcrest or eamings on the Funds.
<br /> _ '""� Borrowcr and L.ender rnay agcee in writing, however, that inter�st shall be paid on the Funds. Lendcr shall givc to Borrower,
<br /> �-_�= - without charge, an annual accounting of the Funds, showing credits and debits to the Funds and the purpose for which each
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