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<br /> TOt;ETi-IER WITH al! the improvements now ar hereafter erectt�on the pmperty, and all easemenrs, appurtenances, and
<br /> �ixwres naw or h�reafter a part of the property, qli reF�acements and additions shall aiso be covered by this Security
<br /> Instrument. A!I of the foregoing is referred to in this Jecurity 3nstrumenr.�,s�e "ptroperty."
<br /> GORROWER COVENANTS that Sormwer is iawfvlly seised of tne estate hef�eby conveyed and has the right to grant and
<br /> convey thr. Pzrpercy and that the Property is anencumbered, ezccpt for encumbrances of reoortii. Borrower warrants and will
<br /> defend generaliy the titie to the Pmperty a�ainst all claims ac,d.demands, sublect to any encumbrances of record. '
<br /> THiS SEC�JRtTY INSTRUMENT combines uniform covenant's for r�ationaI use �nd non-uniforen covenants with 1�mited
<br /> �•ariations by jurisdiction to cor�stitute a uniform security instrsment covering real propercy,
<br /> UNIFORM COVE�IANTS. Borrower and I.ender covenant a:�d agree a,�,follows: �
<br /> 1. Paymer,t of °rincipal and Interest; Pregaymeot xn� �ee Charges.-Borrow,er shall promptly pay when due the .S�
<br /> principal of and interest or�the debt evidenceti by tha I�Iote ar,d any r„�pa�•ment and late charges due und�r the Note. 1
<br /> 2. Funds for Taxes ar,d Insara�ice, Subject ro applirable law or to a. writte,� waiver b}� Lender, Borrower shall pay to �'"�'
<br /> Lender on the day monthly payrnents are due u�der the Note,until the Note is paid in full,a sum("Funds" for: a �
<br /> zn�d assessments which may attam priority o��er this Security Ir�strumenY as a lien on the Pro rc b � � �Y�rly taxes
<br /> o� grourtd rents on the Property, if an P� y� � )Y�r�Y leasehold payments �
<br /> y; (c)yeariy ha:ar�or property ir.surance premiums; (d)yearly flc�d insurance premiums,
<br /> if a;iy; (e) ye.arly mortgage insurnnce pre:niums, if any; and (� any sums payable by Borrower to Lender, in accordance with �
<br /> the piovisions of Qaragraph g, in lieu of ihe payment of mortgage insurance premiums. These items are called "Estrow Items." �
<br /> Lenuer may, at any time, coliect and hold Fur.ds in an amount not to exceed the maximum amount a lender for a federally
<br /> relaterl r.iortgage loan may reGuire for Borrower's escraw account under ;he federal Real Fstate Settlement Procedures Act of
<br /> 1974 as ainended from time to time, l2 U.S.C. Section ,2601 et seq. ("RESPA"), unless another law that appl�es to the Funds,
<br /> sets a tesser amount. If so, L,ender may, at any time, collect and ho�d Funds in an amount not eo ezceed the"�e�sser amount. �°--
<br /> Lender may cstimate the amount of Funds due on the basis of current data and reasonable estimates of expendit'ures of future
<br /> Escrow Items or othenvise 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 L,ender is such an institution)or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the
<br /> Escrow (tems. Lender may not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or
<br /> verifying the �scroa Items, unleas 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 inclependent real estate tax reporting service
<br /> us�d by Lender in connection with this loan, unless applicable law provides othenvise. Unless an agreement is made or
<br /> applicable law requires interest ro be paid, L,ender shall not be required to pay Borrower any interest or earnings on the Fund�.
<br /> Borrower anci Lender may agree in writin�, however, that intPrest shall be paid on the Funds. Lender shal( give to Borrower,
<br /> without ch2rge, an annuai accounting of the Funds, showing credits and debits to the Funds and the purpose for which each
<br /> debit to the Funds was made. The Funds are pledged as additio��aCsecurty for all sums secured by this Security Instrument.
<br /> If the Funds held by Lender�xceed the amounts permitted to be held by applicable law, Lender shall accourt to Borrower '
<br /> �'. for the excess Funds in accordance with the requirements of applicable law. IF the amount of the Funds held by Lender at any
<br /> f time is nnt sufficient to pay ihe Escrow Items when due, Lender may so notify Borrower in writing, and, in such case Borrower
<br /> shall pa� to Lender the amount necessary to make up the deficiency. Bonower shall make up the deficiency in no more than
<br /> ta-eive monthly payments, at Lender's sole discretion.
<br /> Upon payment in fall of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any
<br /> i. Funds held by Lender. If, under paragraph 21, L,ender shali acquire or sell the Prope�y, I„ender, prior to the acquisition or sale
<br /> of the Property, sllall apply any Funds held by Lender at the time ef acquisition or sale as a credit against the sums secureci by
<br /> this Security Instrument.
<br /> 3. Application of Payments. Unless applicable law provides otherwise, all paymcnts received by Lender under paragraphs
<br /> 1 and 2 shall be spplied: first, ro any prepayment charges due under the Note; second, to amounts payable under paragraph 2;
<br /> third, to in;erest due; fourth, to principal due; and last, to any late charges due under the Note.
<br /> 4. Charges; Liens. Eorcower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property
<br /> which may attain priority over this Security Instrument, and le��ehold payments or ground rents, if any, Borrower shall pay
<br /> these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on time direcdy
<br /> to the person awed payment. Borrower shafl promptty furnish to Lender all notices of amounts to be paid under this paragraph.
<br /> If Borrower makes the.se p2yments directly, Borrower shall prompNy furnish,o Lender receipts evidencing the payments,
<br /> Borrower shall promptly discharge any lien which has priority over this Securit,y Instrumen,�nless Borrower: (a)agrees in
<br /> writing to d�e payment of the obligation secured by the lien in a manner acceptabEe to Lender, (b)contests in goocl faith the lien
<br /> by, or defends against enforcement of the lien in, legal proceedings which in theFLende�'s opinion operate f�� prevent the
<br /> , enforcement of the lien; or(c) secures frcm the holder of the lie�a an agreement satisfactory ro Lender subordinating the lien to
<br /> this Security Instrument. If LeroJer determines that any part of the Property is su�ject to a fien whicn may attain priority over
<br /> this Sccurity Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or
<br /> more of the actions set forth abrne within 10 days of the giving of notice.
<br /> Peoe 2 0�e Form 3028 9/90
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