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TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and
<br /> fixtures now or hereafter a part of the property. All replacements and addipons shall also be covered by this Security Instrument.
<br /> All of the foregoing is referred to in this Security Instrument as the "Property."
<br /> BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and
<br /> convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will
<br /> defend generally the title to the Property against all claims and demands,subject to any encumbrances of record.
<br /> THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited
<br /> variations by jurisdiction to constitute a uniform security instrument covering real property.
<br /> iJNIFORM COVENANTS.Borrower and Lender covenant and agree as follows:
<br /> • 1.Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due the
<br /> � principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br /> pp 2.Funds for Taxes and Insurance. Subject to applicable law or to a written wai�er by Lendet�, Bcf�rower shall pay to
<br /> Cfj Lender on the day monthly payments are due under the Note, until the Note is paid in�'ull, a sum ("Funds") for: (a) yearly ta�ces
<br /> p and assessments which may attain priority over this Security Instrument as a lien on the Property; (b) yearly leasehold payments
<br /> O or ground rents on the Property,if any; (c) yearly hazazd or property insurance premiums; (d)yearly flood insurance premiums,if
<br /> � any; (e) yearly mortgage insurance premiums, if any; and (� any sums payable by Borrower to I,ender, in accordance with the
<br /> provisions of paragraph 8, in lieu of the payment of mortgage insurance premiums. These items are called "Escrow Items."
<br /> � Lender may, at any time, collect and hold Funds in an amount not to exceed the maximum amount a lender for a federally related
<br /> � mortgage loan may require for Borrower's escrow account under the federal Real Estate Settlement Procedures Act of 1974 as
<br /> amended from time to time, 12 U.S.C. Section 2601 er seq. ("RESPA"), unless another law that applies to the Funds sets a lesser
<br /> amount. If so, Lender may, at any time, collect and hold Funds in an amount not to exceed the lesser amount. Lender may
<br /> estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or
<br /> otherwise in accordance with applicable law.
<br /> The Funds shall be held in an institution whose deposits aze insured by a federal agency, instrumentality, or entity (including
<br /> Lender, if Lender is such an institution) or in any Federal Home Loan Bank. L.ender shall apply the Funds to pay the Escrow
<br /> Items.Lender may not charge Borrower for holding and applying the Funds, annually analyzing the escrow account,or verifying
<br /> the Escrow Items, unless Lender pays Bonower interest on the Funds and applicable law permits L,ender to make such a charge.
<br /> However, Lender may require Bonower to pay a one-time charge for an independent real estate tax reporting service used by
<br /> Lender in connection with this loan, unless applicable law provides otherwise. Unless an agreement is made or applicable law
<br /> requires interest to be paid, Lender shall not be required to pay Bonower any interest or earnings on the Funds. Borrower and
<br /> Lender may agree in writing, however, that interest shall be paid on the Funds.Lender shall give to Borrower,without charge,an
<br /> annual accounting of the Funds, showing credits and debits to the Funds and the purpose for which each debit to the Funds was
<br /> made.The Funds are pledged as additional security for all sums secured by this Security Instr�ment.
<br /> If the Funds held by Lender exceed the amounts permitted to be held by applicable law,Lender shall account to Borrower for
<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 sufficient to pay the Escrow Items when due,Lender may so notify Borrower in writing,and,in such case Bonower shall pay
<br /> to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than twelve
<br /> monthly payments,at Lender's sole discretion.
<br /> Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Bonower any Funds
<br /> held by Lender. If, under paragraph 21, Lender shall acquire or sell the Property, Lender, prior to the acquisition or sale of the
<br /> Property, shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by this
<br /> Security Instrument.
<br /> 3.Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under pazagraphs
<br /> 1 and 2 shall be applied: first, to any prepayment charges due under the Note; second, 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 /> 4.Charges;Liens. Bonower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property
<br /> which may attain priority over this Security Instrument, and leasehold payments or ground rents,if any. Borrower shall pay these
<br /> obligations in the manner provided in paragraph 2,or if not paid in that manner, Borrower shall pay them on time direcdy to the
<br /> person owed payment. Borrower shall promptly fumish to Lender all notices of amounts to be paid under this paragraph. If
<br /> Borrower makes these payments directly,Borrower shall prompdy furnish to Lender receipts evidencing the payments.
<br /> Borrower shall prompdy discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in
<br /> writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien
<br /> by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the
<br /> enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to L,ender subordinating the lien to
<br /> this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this
<br /> Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more
<br /> of the actions set forth above within 10 days of the giving of notice.
<br /> Form 30'��'�8! ^9/,9t�0
<br /> � -6R(NE)�s2i2>.oi Pa9ezots Initials:��-[_}M�
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