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<br /> 1 OGETHER W'ITH ali che improvcments now or h�reafter erected on the pro;�erty, anid all easements, appurten.inces, ano
<br /> fixtures n�w or herrzf,er a part of the property. All srplacements and addit:ons shall also be covered by this, Security :
<br /> - Instrument. All of the foregoing is referred to in this Security lnstrument as the "PrcpeRy."
<br /> " BORROWER COVENAN7'S that Borrower is lawfully seised of the estate hereby conveyed and has che right to grant and
<br /> c�nvey the Propeny and that the Property is unencumbered, except for eneumbrat:ces of record. Borrower warranrs and will
<br /> defend generatiy the ticle to the Property against all claims and demands, subject to any encumbrances of record. •
<br /> THIS SECURITY INSTRLrMENT cdmbines unifonn covenants for nation�l use and non-uniform covenants urith limited
<br /> variations by iucisdiction ro�onstitute a uniform security iiutrument covcring real pmperty. ' :
<br /> UNIFOR:�i COVENANTS. Bormwer and Len�er covenant and agree as follows:
<br /> 1. Payr�ient of Principal and Intecest; Prepayment and Late Charges. Burrower shall promptly pay wl,un due the
<br /> principal of and interesc;�n the debt evidenced by the Note arad any prepayment and late cha;ges due under the Note.
<br /> 2. Fund� for?aa.�es an.d xnsurance. �ubject to applicable ]aw or to a wrilten waiver by Lendef, Borrower� shall pay to
<br /> Lenrier an the�1ay m�ntilly E>aymerits are due under the Note, until the Note is paid in full, a sum("Funds") for: (a)yearly tazes
<br /> and assessment�which rnay attain priorit,ry over this Sccurity Instrument a�a lien on the Property; (b)yearly leasehold payments -, :
<br /> or ground reats on the� P'raperty, if any; (c)yearly hazard or property insurance premiums; (d)yeuly flond insurance prenuums, i
<br /> if any; (e) yeariy mor;gage ir.surance premiums, if any; and (� any sums payable by Borrower to I.ender, in accordance with
<br /> che provisions of parag±.eph 8, in Iieu of the payment o;mortgage insurance premiums. These items are called "Escrow items."
<br /> Lender may, at any time, col�ect and hold Funds in an amount not to ezceed the mazimum unount a lender for a federally ` '- :
<br /> relate:i mortgage loan may require for Borrower's escrow account under the federal Real Fstate Settiement ProcedLres Act of
<br /> 1974 as amended from time to time, 12 U.S.C. Section 260I et seq. ('RESPA"), unless another law that appiies to the Funds
<br /> sets a iesser amaunc. If so, Lender may, at any time, collect and hold Funds in an atnount not to exceed the lesser amovnt. .� ' :
<br /> Lender may estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future `
<br /> Escrow Iterns or otherwise in accordanca:with applicabie law. �
<br /> The Funds shall be held in an institution whose deposits are insured by a fedcral agency, instrumentaliry, or entity
<br /> (inctuding I,ender, if Lender is such an institutron)or in any Federa( Home L.oan Bank. l.ender shal( apply the Funds to pay the �
<br /> Escrow ltems. Lerzder may not charge Borrower for holding and applying the Funds, an�ually analyzing the escrow account, or �
<br /> verifying the Escrow Items, unless Lender pays Borrower intzrest on the Funds and applicable law permits L.ender to make such �
<br /> a charge. However, I.ender may require Borrower to pay a one-time chzrg� for an i!:dependent real estate tax reporting service �
<br /> use�i by Lender in connection wich this loan,�unless applicable law provides othenvise. Unless an agreement is rnade or �
<br /> app�icabie law requires interest to Ue paid, l.ender shall not be required to pay Bonower any interest or earnings on the Funds.
<br /> BorrowPr and Lender may agree in writing, however, that interest shall be paid on the Funds. Lender shall give ro Borrower,
<br /> without charge, an annual accounting of the Funds, sliowing credits and debits to the Funds and the pu�ose for which each
<br /> debit ta the Funds was made. The Funds are pledged as additional security for all sums secured by this Security Instrument.
<br /> If the Funds held by Lender ezceed the amounts permitted ro be held by applicable law, Lender shall account to Borrower
<br /> for the ezcess E'unds in accordance with the requirements of apglicable law. If the amount of the �runds held by Lender at any :
<br /> time is not sufficient to pay the Escrow Items when due, Lender may so no[ify�3orrower in writing, and, in such case Bonower
<br /> shall pay to Lender the amount necessasy to make up the deficiency. Berrower shall make up the dc.`;ciency in no more than
<br /> twclv�monthly payments, at Lender's sole discretion.
<br /> Upon payment in full of �il sums secured by this Security Instrument, Lender shall prompdy refund to Borrower any
<br /> runds held by i�nder. If, under paragraph 21, Lender shall acquire or seil the Property, Lender, prior to the acquisition or sale
<br /> of the Property, shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by
<br /> this Security Ir.strument.
<br /> 3. Application of Payments. Unless applicable law provides otherwise, all payments received by i.ender under paragraphs
<br /> I and ? shali be appliec?: 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. B�rrc:ver shall pay ali taxes, assessments, charges, fi^.es and impositions attributable ro the Property :
<br /> which may attain prioriry over this Security Instrument, and leasehold payrr,eius or ground rent;;, if any. Bunower shall pay
<br /> the5e obligataons in the manner provided in�aragraph 2, or if not paid in that manner, Borrowes shall pay them on time directly
<br /> to the person owed payment. Bonower 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 L.ender receipts evid�ncing the payments.
<br /> 6orrower 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 ta Lender; (b)contests in g�od faith the lien
<br /> by, or defends against enfor��ement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the
<br /> enforcement of the lien; or (c) secur�s from the holder of the lien an agreement satisfactory to Lender subordinadng the lien ro
<br /> this Security Instrument. I,` Lender determines that any part of the Property is subject�to a lien a�hiclt may atiain priority ovec
<br /> this Security Instrument, L,ender may give Bonower a notice identifying the iien. Borrower shall satis�y the lien or take one or
<br /> more of the actions set forth above within 10 days of the giving of notice.
<br /> Form 3028 9190 '
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