|
T(3GETf3F.�t W."TH all tbe;mprovements now or hereafter ea�ected on the pro�serry, arn-i a?�easements, appurtenances, and
<br /> f'vctures nca� or her�eafter a part of the property. A;I tpplacements and additions saa'tt aiso be covered by this Security :
<br /> Inscrument.AII of the faregoing is referrecl to in t;wis S�uriry Instrument as ehe 'Property."
<br /> SORROW£R COVENANTS that Barrower is lawfully�eised of the estate herer,y coiiveyed aad has the right to grant and :
<br /> convey the Properry and that the Property is unsncambered, �xcept for encua�branc,� of recorcl. Banower warranrs and wi;l � '
<br /> defend generally the tide to the Property againsi all cl2ims and demands,subject to any eneumbcances Qf rewrd. 3J
<br /> TH1S SECURITY INSTRU�tENT combines u�i€orm covenants for nationa3 use 2nd non•�uniform�covenants with limited �
<br /> vaz3ations by jurisdiction to constitute a uniform security u�st�ument covering real prc�pesty, b.l
<br /> UI�IIFORM COVENANTS. Borrower and Lendez cavenai►t and agree as follows: O
<br /> 1. Payment vf Priacipai and Interesf; Prepayment and I.Ate Ctrarges. Borrower sl�all promntly pay when due the �
<br /> principal of and interest on the debt evidenrxd by the Notc and any prepayment and lafe chazges due undei the Note.
<br /> 2. F�nais tur Taxes and Insurance. Sabjeci to applicable law or to a writte.n waiver by I.ender, Borrower shall nay to ��+
<br /> Lender on the day m�nthly payments aze due uader tht Note,until the Idote is paid in fu11, a sum("Funds")fos: (a)yearly tazes `�'
<br /> and assessments which may attain priority aver tJiis Securiry Instnament as a lien on the Properiy; (b)yearly ltasehold payments �
<br /> or ground rents on the Property, if any;(c)yeaziy hazard or property insuranae prewiums;(d)yearly flooci insriranix premiums,
<br /> if any; (e) yearly moztgage insurznce premiums, if any; and (� any sums payable by Bcsrrower to Lender, iu aFcordance with
<br /> tise pn�visions of paragraph 8, in lieu af the pa�.:.�.,,of mortgagc insurance premiams. 'Y'hese items are calleri "E,crow Items." � --
<br /> Ltnd�r may, at an,v time, colle:t and hold Funds in an a�ount not t� cxceai the mazimuzn amount a lender fo�a federally
<br /> relatod mortgage Ioa�y may rt;�?±*� for Borro�ver's es�row accevat under ehe federal Real Fsiatc Stttlement Proced�res Act of
<br /> 1974 as a�ended from timr,to tir.:c, i`l U.S.C. Section 2601 et.;eq. ("ItFSPA`), unless another!aw that applies ta thc Funds
<br /> sets a lesscr amount. If so, Lender may, at �.�y time, collect and hold Punds in an amount not to zxcced the Icsser amount.
<br /> icnder may estimate tt�s amount of Funds due on the basis ai current ctata and reasonable estiinates of expenditurts of future
<br /> F.s,:row Items os otherwise i,n accordance with appticable law. ,
<br /> The �unJs shalt be held in an instite�tion whose deposits are insured by a federat agency, instrumentaliry, or entity
<br /> (including L.ender, if Lender is such an institution)or in any Federal Home Loan Bank. I,ender shall apply the Punds to pay the :
<br /> Escrow Items. Lender may not charge Bortower for holding and applying i}:e Funtts, annualty analyzing Ehe escrow account, or
<br /> verifying the Fs�*ow Items, unless Lender pays Bnrrower interest on th�Funds and applicable law permits?ender to make such
<br /> a chaz�e. However, I.ender ma�*equire Eorrower te pay a one-tizne ct�arge for an indegeadent real estate taz reporting scrv#ce
<br /> used by I.ender in canraection wlth this loan, uc�lr,ss applicable law provides otherwise. Unless an agreen,:.nt is made �r
<br /> appiicabie law rec�uires interest to be paid, Lender shall not be require3 to pay Bormwer any interest or earnings on the Funds,
<br /> Bormwcr and I,ender may agree in writing, howzver, that interest shall br paid on the Funds. I.ender shall giv�.to Borrower,
<br /> with�ut chazge, an annual accouating of the Funds, showing credits and �dabits to the Funds and the purpose for which each
<br /> debie to the Funds was made.The Funcis are pl�lged�arlditional security for all sums secured by this Security Instrument.
<br /> If the Funds held by i.ender ezceed the amounts permitt�d to be heId by appli�able law, Lender shall account to Borro�ver
<br /> For the ezcess Funds in a�cordauce with the requ:�rments of applir.�ble law�. If the amount of the Funds he?d by Lender at any
<br /> time is not sufficient to pay the Escrow Ttems��hen due, t,ender may so notify Borxower in writing, and, in such case�3ortower
<br /> sF,atl pay to Ixnder the amouni n�:essary to make up the deficiency. Borrower shall make up the deficiency in no more than
<br /> hvelve monthly payments, at I.�nder's snle discretion.
<br /> Upon payment in fuIl of all sums securet� by this Security Instrument, Lender shall promptly refund ta Borrower any
<br /> Funds held by Lender. If, under paragtaph 21, I.ender shatl acquire or sell the Property,I,ender, prior to the acquisition or sale
<br /> of the Property, shall appfy any Punas held hy L,�nder at the time of ar.quisition or sale as a credit against the sums sxured by
<br /> this Securi'y It�strument.
<br /> 3. Appl3cation of Payments. Unless xpplicable law provides otherwise, all payments received by Lender under paragraphs
<br /> I and Z shall be applied: first, tQ any prepaymeni chazges aue under the l�ote; secoad, to amounts payable under paragraph 2;
<br /> third, to i.zterest due; fourth, to principal due; and last,to any late charges due under the Note.
<br /> 4. Charges; Lia�s. Borrower shall puy a:1 tane�, assessments, charges, fines and impositions attributable to the Pro�xrty
<br /> which may attain priority over this Secnrity Instrusnent, and leaseholci payments or ground rents, if any. Bo:rower shall pay
<br /> these obligations in tt:e mannez provided in paragra�h 2,o�if r.;= ;�aid in that mamlez, Borrower shall pay chem on time directly
<br /> to the person owed payment. Borrower shall pmmptly furnish to r�nder all notices of amounts to be paid under this pazagraph.
<br /> If Borrower makes these payments direcfly,Borrower shall prom��dR�fumish to Lender receipts evidencing the payments.
<br /> Borr:wzr shall pruinptly discl:uge any liea whictt has priority oWer tt►is Securiry r.�strument unIess Borrower: (a)agrees in
<br /> writing to the payme.nt of the obligation secured by the lien in a manner acceptable to I.ender; (b)contests in good faith the lien '
<br /> by, or defends against enforcement of ;he 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 Lender subordinating the lien to
<br /> !his Security tnstrumen!. If Lender deterznines that any past of the Property is subject to a lien which may attain priority over
<br /> this Security Instrucnent, Lender n�ay give Borrower a aotice identifying the lien. Borrower shall satisfy the lien or take one or
<br /> more of the actions sct forth above within 10 days of the�iving of notice.
<br /> ;'
<br /> Form 30�/g0
<br /> ��6RfMEl i�zi�i.oi r,o.2 0�e �
<br /> �� L
<br /> \ ,
<br /> , . � �
<br /> �
<br /> � _
<br /> `�
<br /> �if:s.. ,J_.,,,,,,',,,.
<br />
|