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200006887
<br />70GETHER 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 additions shall also be covered by this Security
<br />histiunient. All of the fuiegoing is icferred to in Lhis Security Instrument as the "Property."
<br />BORROWER COVENANTS that Borrower is Iawfully seised of the estate hereby conveyed and has the right to grant and
<br />convey the Propprty and that the Property is nnPncumhered, exr.pt fnr enrurnhranrec of rrr_nrri. Rnrmurt,r warranrc and tvi.11
<br />defend generally the title to the Property against all claims and demands, subject to any encumbranoos of reoord.
<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 />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />I. 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 />2. Funds for 'faxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to
<br />Lender on ilia 1.l4y inviltllly payments are due under the Note, until the Note is paid in full, a sum ( "Funds ") fur: (a) yearly laxcs
<br />and assessments which may attain priority over this Security Instrument as a lien on the Property; (b) yearly leasehold payments
<br />or around rents on the Properly, if any, (c) yearly ha.xard or property insurance premiums; (d) yearly flood 'insurance premiums,
<br />if airy; (e) yearly mortgage insurance prctniuris, if any; and (f) any sums payable by Borrower to Lcndcr, in accordance witli
<br />the provisions of paragraph 8, in lieu of the payment of mortgage insurance premiums. These items are called "Escrow Items."
<br />Lender may, at any tiXne, collect and hold Funds in an amount not to exceed the maximum amount a lender for a federally
<br />related mortgage loan may require for Borrower's escrow account under the federal Real Estate Settlement Procedures Act of
<br />1974 as amended from time to time, 12 U.S.C. Section 2601 er seq. ( "RESPA "), unless another law that applies to the Funds
<br />set& a lesser amount. If so, Lender may, at any time, collect and hold Funds in at.. amount not to exceed the les,er amount_
<br />Lcndcr may estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future
<br />Escrow items or otherwise in 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. Derider shall apply the Funds to pay the
<br />Escrow IICMS. Lender may not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or
<br />verifying the .Escrow Items, unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such
<br />a charge. However, Lender may require Borrower to pay a one -time charge for an independent real estate tax reporting service
<br />used by Lmdcr in c:Uni1CLLiv1i with this lush, uniess applicable Iaw provides otherwisc, Unicss an agrccmcnl is rtlad4 or
<br />applicable law requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds.
<br />Borrower and Lender may agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower,
<br />without uhargC, Nn dunual accounting of the Funds, showing credits and debits to the funds and the purpose fof which each
<br />debit to the Funds was made. The f=unds arc pledged as 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, I ender shall. account to Borrower
<br />for the excess Funds in accordance with the rcquircmonts of applicable law. If the amount of the Funds held by Lender at any
<br />time is not sufficient to pay the Escrow items when due, Lender may so notify Borrower in writing, and, in such case borrower
<br />shall pay to Lender the amotint necessary to make lip the deficiency. Rorrower shall make up the deficiency in no more than
<br />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 any
<br />Funds held by Lender. If, under paragraph 21, i,.ender shall acquire or cell the property, Tender, prior to the acquisition or sale
<br />of the Property, shall apply any Funds hold by Lender at the time of acquisition or sale as a credit against the sums secured by
<br />tills Security Instrument.
<br />3_ Application of Paymentq. Unless applicable law provides otherwise, all payments received by Lender under paragraphs
<br />1 and 2 shall be applied: first, to any prepayment charges due under the Note; seoond, to amounts payable uiadox 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. Borrower 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
<br />these obligations in the manner provided in paragraph Z, or if not paid in that manner, Borrnwcr shall pay sham un ti.mt; directly
<br />to the 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, Borrower shall promptly furnish to Lender receipts evidencing the payments.
<br />Borrower shall promptly 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 defonds against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the
<br />cnforcement of the lien; or (c) secures from the holder of the lien an agrix:murit satisfactory to Lundur subordinating the lien to
<br />this Security Instrument. If Lender determines that any part of the Property is subject to a Iien which may attain priority over
<br />this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or
<br />inoie of the actions set forth above within 10 days of the giving of notice.
<br />Form 3028 9180
<br />- 6R(NE) 1921 M.ea page 2 of 6
<br />90 /v0 'd scnee£80£I 'ON Xd3 SONIAVS IVN3033 3WOH V0:80 f1H1 00 -H -DAV
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