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<br /> TOOETHER WITH �ll the Improvements now or herenftor crected on the property,msd ull cmernents,nppuaenances, und
<br /> flxtures no�v or horenRcr a pnrt of the property. Atl cepincements and addltions shull �iso be covered by thie Securiry
<br /> �� lmatrument.Alt of thcs lore�oing is refened to in thia Securlty Insteument us the"Property.'
<br /> • BORROWBR COVBNANTS that Barrotver ia lnwfully seiscd oY the estute hereby convcyed and hns thc righc to�rant and �
<br /> convey the Praperty and that the Propeny Is unencumFicrcd, except for encumbrunces of recard,Bottowee wurrunts und will
<br /> ciefend�anerally tbe tido ta tho Property opalnst alt claims and demands,subject to uny encumbranus of record.
<br /> THlS SECUAITY iNSTRl1MRNT combines wiiform covennnts far national use a�id non-unitorm coYCnants with Ilmited ,
<br /> � vacfutions by Jurisdiction to constltute n unlform security instrument covcring real proper[y.
<br /> UNIFORM COVENANTS.Boreower and[,�snder covenant and ugree as followa: •
<br /> - l;:, 1. Wyment of Princtpal nnd Intcresh Prepnyment and Lutc Charges. Bonower shull promptly pay when due the
<br /> ' ' � . principul of and iatereat on the debt evidenced by the Note and uny pmpayment and late charges due under the Note.
<br /> ' Z. �nda Por Toxes und Insurance.Subject to uppiicuble law or to a written walver by Lender, Borrower shall pay to
<br /> �• l.cnder on the dey monthly payments are duo under the Note,until We Note is pald in full,a sum ('Funda")for:(a)yearly taxes
<br /> � � and assesqmeata which may atta�n prioriry over this 5ecudty Instrument as u lten on the Pmperty;(b) yeurly leasehold payments
<br /> or ground rents on the Propertyr,if any:(c)yearly hnzard or property insurance pnmiums;(d)yearly flood insurance premlums, �__
<br /> if aay; (e)yenaly mortgage insurtwce prosniums, if any; and t��Y sums payable by Borrower to Lender, in accordaace with
<br /> • the provisions of paragraph 8,in lieu of tha payment of mongaga insurance premIuma. These items are called "Escrow Items."
<br /> I.ender may. at aay time.coliect nnd hold Funds in an amount not to exceed the mnximum arnount a Iender for a federally -
<br /> "' related mortBAge loan may requtre for Borrower's escrow account under tbe federal Real Estate Settlement Procedures Act of
<br /> • - 1974 as aracnded from tlmc to timc, 12 U.S.G Secdou 2601 et seq. {•RESPA"),unleas anocher Isw that applies to the Funds
<br /> seta a lesser amount. If so, Lender may, at any tlme, collect und hold Funds in an amount not to exceed the lesser amount. '•
<br /> I.ender may eatlmate the amount of Funds dua on the basis of current data and reasonable esticna�es of expenditures of future '.�'�':�`
<br /> Escrow Itoras or othern+ise in accordaace with applicabte law. �'�';?
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<br /> S:j}; The Funds shall be held W aa iastltucloa whoae depasits are insured by a federal agency, instrumentality, or entity ':;��.,
<br /> r,��`'�,,' (including I.cudar,if Lender is such an institution)or in any Federal Home Loan Bank. Lender slult Apply the Funds to pay the ,:
<br />'�`�'' � �'� Escrow Items. l.ender may not char�e Bo�awer for halding and applying the Funds. nnnuslly andyzing the escrow accouat.or `-,'�
<br />�{;;r . . ;,;. '•
<br /> r':r vcrifying the Escrow Itema,unless Lendar pays Borrower lnterest on the Funds aad applicable law permits Lender ta makc such _
<br /> ��� a charge.However, I.ender may requtre Borro�ver to pfly a one-time churge for an independent real estate tax reponin�servlce ,.�°r�
<br /> `��'s; used by Lender ia connection wlth this loan, unlasa applicable law provldes otherwise. lJnless an agreement ia made or
<br /> '•�'' .,.,,
<br />_��?�-�°� •• . �; applicable law rcquirea interest to bc paid.Lender shall nat be required to puy Borrower any interest or earnings on the Funda.
<br /> `=`��� "�� Bo:ro:�er sns� Lend�r mny�cc�+ in w�iting,hawever, tliat interest ahall be paid on the Funda. 3.euder shall give to Bortower,
<br /> �� without churge, an annuul accounting of the Fuads, showing credits end debits to the Funda and tde purpose for wb+.ch euch �
<br /> nn
<br /> - '� debit to the Funds was made.The Funds aro pledged as addidonal security for all sums aecured by ihis Securtty Instrument. �.-�
<br /> ' �, If tha FwuIx heId by J.ender cRCCr.d thc atnounts permitted to be held by applicable law,Lender ehall acconnt to Bonawer `
<br /> } for the excess Fuuda in uccordnnce wt�h tho requiroments of npplicable law. If tbe amount at the Funds held by Le�ler at nay _
<br /> ��� � �. time is not aufticient to puy the Escrow Itoma when due, Lender mny so notify Borrower in writing, s�ad, in such caso Bonower �
<br /> sball puy to Lender the nmount necessnry to mnka up the deflciency. Borrower shntt mnke up tha defleiency !n no rnoro thaa
<br /> � " " �''� twelve monthly payments,at Lender's sola dlscretton. �
<br /> - '� Upon pnymeat in thll of all suma secured by this Security Inatrument. Lender ahnli promptly retLnd to Borrower any E•^
<br /> r
<br /> � � 'r`.�. Funda held by Lender.If,under puragrnph 21.Londer shall ucqulre or sell the Pmperty,Lender.prior to the ucquiaitton or aWe �.
<br /> - , � of We Ptaperty,ehNl npply any Funds held by Lender nt the time of acquisit[on or salo as a credlt againat the sums secured by .:.•
<br />- �• , this Securiry Insttumant. �'.
<br /> ' 3.Applicstlon of Payments.Unloss applicable law provides otherwtse.all paymenta reccived by Lender uader para�rapds c
<br /> � `� " .` 1 ead 2 shall ba npplted: first,to uny prepnyment charges due under the Note;second.to amouais payable under paragcuph 2; ==_
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<br /> third,t�Interest due;fourth.to princip�t due;and lest.to any late chargea due under the Note.
<br /> . • 4.Chec�csi Licns.Borrower shall pay �11 tnxes.assessments,charges. fines und imposttions auributable to the Property � -
<br /> which may attain priodty over this Secudry Instcument, and leasehold puyraeata or ground reAta, if eny. Bormwer shell pay -
<br /> �,• ' '�``':r�i�,��. these obligntions In We mannet providod in purngrnph 2,or if not patd in that manner.Borrower shaYl pay them on Nme direcdy
<br /> t � .. �i�;�y;��i., to the porson owed payment.Borrower sbntl promptly ftunish to Lender all notices of amounts to be paid under thia paragraph.
<br /> � r� '�+��' If 3orrower malces theee payments directly,Borrower shall pmmptly ftirnish to Lender receipts evidencing the paymeats.
<br />_�;�;�• � , � Borrowcr aLali promptly discharge:wy liea which ha.g prlorIty over this Secudty Instcument uNess Borrower:(a)agrees ln -
<br />�:�;``'�:' , ' wtldng to the pnymeat of the obligatinn sr�us�l by the Uen!n a manner ucceptabte to Lender;(b)contests In good faith the lien
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<br /> � by. or dofends aguinst enforcement of tho lion in, legal proceedings which in the I.euder's opinion operate to prevent the -�
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<br /> � �` ? enforcement of the licn; or(c:)secures from the holder of the]ten an•s►greement satisfactory to Leader subordiaating the lien ro �
<br /> � „�'R' � thfa Security Iasuument. lf Leader detortaines chat ony part of the Property+ !s subject to a lien which may anaitt prFority over `=
<br /> . .,' � ' ihis Security Insuument.Lender may give Borrower a notice identifytng the lten.Borrower shall satiafy the lien or take one or "_
<br /> ' more of the ctctions set forth ubove withln 10 dnys of the giving of notice.
<br /> �� ; Fmm 3020 9l8Q
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