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99-1�4�3�
<br /> TOGETHER WITH all the improvements now or hereafter erected on the property, and all easemencs, appurtenances, and
<br /> fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Securit�
<br /> Instrument. All of the foregoing is referred to in this Securitv Instrument as the "Property."
<br /> BORROWER COVENANTS that Borrower is lawfull� seised of the estate hereb�� conveved and has the right to grant and
<br /> convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warranis and �ill
<br /> defend generally the title to the Property against ali claims and demands, subject to any encumbrances of record.
<br /> THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limi[ed
<br /> variations by jurisdiction to constitute a uniform security instrument covering real properry.
<br /> UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br /> 1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due the
<br /> principal of and interest on the debt evidenced by the Note and any 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 pa� [o
<br /> Lender on 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 which may attain priority over this Security Instrument as a lien on the Propert��: (b) yearly leasehold paymen[s
<br /> or ground rents on the Property, if any; (c) yearly hazard or property insurance premiums; (d) yearly flood insurance premiums.
<br /> if any; (e) yearly mortgage insurance premiums, if an}; and (fl any sums payable by Borrower to Lender, in accordance �ith
<br /> the provisions of paragraph 8, in lieu of the payment of mortgage insurance premiums. These items are called "Escrow Items."
<br /> Lender may, at any time, collect and hold Funds in an amount not to exceed the maximum amount a lender for a federall�
<br /> related mortgage loan may require for Borrower's escrow account under the federal Real Estate Settlement Procedures Act oi
<br /> 1974 as amended from time to time, 12 U.S.C. Section 2601 et seq. ("RESPA"), unless another law that applies to the Funds
<br /> sets a lesser amount. If so, Lender may, at any time, collect and hold Funds in an amount not to exceed the lesser amounc.
<br /> Lender may estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future
<br /> Escrow Items or otherwise in accordance with applicable law.
<br /> The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality�, or enti��
<br /> (including Lender, if Lender is such an institution) or in any Federal Home Loan Banl:. Lender shall apply the Funds to pay tlie
<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 co make such
<br /> a charge. However, Lender may require Borrower to pay a one-time charge for an independent real estate tax reporting ser��ice
<br /> used by Lender 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 on the Funds. Lender shall give [o 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 securit}� for all sums secured by this Security Instrument.
<br /> If the Funds held by Lender exceed the amounts permitted to be held by applicable law, Lender shall account to Borrower
<br /> for the excess Funds in accordance with the requirements of applicable lau�. If the amount of the Funds held b�� Lender at an�
<br /> time is not sufficient to 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 promptl� refund to Borrower am
<br /> Funds held by Lender. If, under paragraph 21, Lender shall acquire or sell the Propert�, Lender, prior to the acyuisition or salr
<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 b�
<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 amouAts payable�under paragraph ?:
<br /> third, to interest due; fourth, to principal due; and last, to any late charges due under the Note.
<br /> 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attribu[able to [he P;opert�
<br /> which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pa�
<br /> these obligations in the manner provided in pazagraph 2, or if not paid in that manner, Borrower shal] pay them on time direc[l�
<br /> to the 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 shal] promptly furnish to Lender receipts evidencing the paymen[s.
<br /> Borrower 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 accepcable to Lender; (bj contests in good faith [he lien
<br /> by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion opera[e to preveni the
<br /> enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien [o
<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 [al:e one or
<br /> more of the actions set forth above within 10 days of the giving of notice.
<br /> Form 3028 9I90
<br /> �-6R(NE1 ie2iz�.oa � Page z or s
<br /> � � Inrtials�.
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