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<br />TOGETHER WITH all the improvements now or hereafter erected en the property, and all easements, appurterances, and
<br />fixtures now or hereafter 2: part of the property. All replacements and additions shall also be covered by this Security
<br />Instrument. All of the foregoing is referred to in this Security Instrument as the "Property."
<br />BORROWER COVENANTS that Borrower is lawfully seisc,i of the estate hereby conveyed and has the right to grant and
<br />convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will
<br />defend generally the title to the Property against all claims and demands, subject to any encumbrances of record.
<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 shah promptly Fay when due the
<br />principal of and :�nterest art th%: debt evidenced by the Note and anti prepayment and late charges due under the Note.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to
<br />Lender oa the day monthly payments are due under the Note, until the Note is paid in full, a sum ( "Funds ") for: (a) yearly taxes
<br />and assessments E;'.iich may attain priority over this Security Instrument as a lien on the Property; (b) yearly leasehold payments
<br />or ground rents on the Property, if arty; (c) yearly hazard or property insurance premiums; (d) yearly flood insurance premiums,
<br />if any; (61 yearly - no�;gaf.v insurance premiums, if any; and (f) any sums payable by Borrower to Lender, in accordance with
<br />the previsions ck! .taragraph S, in lieu of the payment of mortgage insurance premiums. These items are called "Escrow Items."
<br />Lender n;ay, at any time. ;r: =Ile t r.-A hold Funds in an amount not to exceed the maximum atlaount a lender for a federally
<br />related mortgage loan rrrry :tquire for Borrower's escrow account under the federal Rem Estate Settlement Procedures Act of
<br />1474 as amended from :crrc to titr. -, i2 U.S.C. Section 2601 et seq. ( "RESPA "), unless another law that applies to the Funds
<br />seto a lesser amount. If so. Lender mm.,, at any time, collect and hold Funds in an amount not to exceed the lesser amount.
<br />Lender may estimate the anilUnt of Funds due on the basis of current data and reasonable estimates of expenditures of future
<br />Escrow Iterns or otherwise in accordance with applicable law.
<br />The Funds shall be held in at, ii,stitutioa 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. Lender shall apply the Funds to pay the
<br />Escrow Items. 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 hay a one -time charge for an independent real estate tax reporting service
<br />used by Leader in connection with this loan, unless applicable law provides otherwise. Unless an agreement is made 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 cn the Funds. tender shall give to Borrower,
<br />without charge, an annual 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 additional security for all sums secured by this Security Instrument.
<br />If the funds held by Lender exceed the am6unts permitted to be held by applicable law, Lender shall account 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 />time is not :sufficient tc pay the Escrow Items when due, Lender may so notify Borrower in writing. and, in such case Borrower
<br />shall pay to Lender the amount necessary to make up the deficiency. Borrower 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, Lender shall acquire or sell the Property, Lender, prior to the acquisition or tale
<br />of the Prolx--rty, 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 instrument.
<br />3. Application of Payments. 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; second, to arnounts'payable under parag.,tpti 2;
<br />third, to interest due; fourth, to principrl due; and last, to any late charges due under the Not-..
<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 />th ^se obligations in the manner provided in paragraph 2. or if not paid in that manner, Borrower shall pay them on time directly
<br />to cite 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 />rnrrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in
<br />writi,ig 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 &.ends against enforcement of the lien in. legal proceedings which in the Lender's opinion operate to prevent the
<br />enforcement of the !ien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to
<br />this Security instrument, if Lender determines that any part of the Property is subject to a lien 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 />more of the actions set forth above within 10 days of the giving of notice.
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<br />Farm 3028 9190
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