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200005070
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements,
<br />appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered
<br />by this Security Instrument. 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
<br />grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower
<br />warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances
<br />of record.
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform covenants with
<br />limited variations by jurisdiction to constitute a uniform security instrument covering real property.
<br />UNIFORM 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
<br />the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall
<br />pay to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ( "Funds ") for:
<br />(a) yearly taxes and assessments which may attain priority over this Security Instrument as a lien on the Property; (b)
<br />yearly leasehold payments or ground rents on the Property, if any; (c) yearly hazard or property insurance premiums;
<br />(d) yearly flood insurance premiums, if any; (e) yearly mortgage insurance premiums, if any; and (f) any sums payable
<br />by Borrower to Lender, in accordance with the provisions of paragraph 8, in lieu of the payment of mortgage insurance
<br />premiums. These items are called "Escrow Items." Lender may, at any time, collect and hold Funds in an amount not
<br />to exceed the maximum amount a lender for a federally related mortgage loan may require for Borrower's escrow
<br />account under the federal Real Estate Settlement Procedures Act of 1974 as amended from time to time, 12 U.S.C.
<br />Section 2601 et seq. ( "RESPA "), unless another law that applies to the Funds sets a lesser amount. If so, Lender may,
<br />at any time, collect and hold Funds in an amount not to exceed the lesser amount. Lender may estimate the amount of
<br />Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in
<br />accordance with applicable 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 Lender is such an institution) or in any Federal Home Loan Bank. Lender shall apply the Funds to
<br />pay the Escrow Items. Lender may not charge Borrower for holding and applying the Funds, annually analyzing the
<br />escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. However, Lender may require Borrower to pay a one -time charge for an
<br />independent real estate tax reporting service used by Lender in connection with this loan, unless applicable law provides
<br />otherwise. Unless an agreement is made or applicable law requires interest to be paid, Lender shall not be required to
<br />pay Borrower any interest or earnings on the Funds. Borrower and Lender may agree in writing, however, that interest
<br />shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds, showing
<br />credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as
<br />additional security for all sums secured by this Security Instrument.
<br />If the Funds held by Lender exceed the amounts permitted to be held by applicable law, Lender shall account to
<br />Borrower for the excess Funds in accordance with the requirements of applicable law. If the amount of the Funds held
<br />by Lender at any time is not sufficient to pay the Escrow Items when due, Lender may so notify Borrower in writing,
<br />and, in such case Borrower shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make
<br />up the deficiency in no more than twelve 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 Borrower
<br />any Funds held by Lender. If, under paragraph 21, Lender shall acquire or sell the Property, Lender, prior to the
<br />acquisition or sale of the Property, shall apply any Funds held by Lender at the time of acquisition or sale as a credit
<br />against the sums secured by this Security Instrument.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />paragraphs 1 and 2 shall be applied: first, to any prepayment charges due under the Note; second, to amounts payable
<br />under paragraph 2; third, to interest due; fourth, to principal due; and last, to any late charges due under the Note.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br />Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower
<br />shall pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of
<br />amounts to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish
<br />to Lender receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in
<br />good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion
<br />operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to
<br />Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject
<br />to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the
<br />lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of
<br />notice.
<br />Form 30288, /9D-,
<br />— 6HINE►(Saos).oi Page 2 of 6 Init ials:1U 0.
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