|
� =.�.� i
<br /> . ,. . .,,�
<br /> .� �a ...�
<br /> ,��1F�
<br /> ' . ''�•* •� e•. �
<br /> ,����
<br /> � �93� i�e
<br /> ToaE7NBR wrrH al�che tmprovema�t�now«bereAfur erected oa tbe prc�pecty�,ina�It wama�u.iqapuuna�wa,
<br /> artd tizau�a now or heneafter a part of the pnope�ty. All repl�xmenu and addidon:�h�lt alw ba oovaed by►dd��ari►y
<br /> la�purnen� All of the fw+e�oin�i��efenod w ia tidt Securlty In�cuma�t at tbe"Propecty."
<br /> BORROWBR COVENAIVTS thtt Bmmwer i�lawfully sei�od of tde estate hemby convayed wd h�t ibe ri�ht w prat
<br /> �nd copvay the aad th�t tGe Piropaty is unencumberod except fw encumbrmcei of ncad. Barnwer wunata�nd
<br /> wiU def�gener�l�dtte to Ihe Property aQain�t W claim�ond dem�r�dt.�ubJect W any encumbnrxxt ot rxord
<br /> THIS SECURITY INSTRUMBNT combines uniform covenAats for n�donal uza and non•uoitann,covenws wGb
<br /> linnited vadadons by jutisdlction to coasdtute a uniform etcurity in�shument cavering reul propeRy.
<br /> UNIFORM COVENANT3. Bartawer aad LRnder covenunt and�g�ee as follows:
<br /> l. PaymeM at Princlp�l�ad Ink�ati PreWYmont�ad I.ate Cbu�ea. Borrowec slull pmmplY PaY whea due tla
<br /> princip�1 of and interest on the debt evidenced by tha Note and any pnpayment and late cbatga due under the Noto.
<br /> 2. Funds tor'tluea�n�d Imruronoa SubJect to wpplicable law or to a writtca waiver by Lender.8axower�11 pay W
<br /> Lender on the day monthly paya�epts are due under the Note.untU the Notc is paid ln full,a sum("FUnds")for:(a)yeuly
<br /> taxes and assessments which mey attain prioriry ovar this Securlty Instrument as e lien on the Propetty;(b)yearly lease6old
<br /> payments or gcnund �cnts on the Property. if any: (c) ycarly hazard ar praperty insurance premiwns; (d) yearly tloal
<br /> insuranca premiums, if aay; (e)yeady moRgage insurance premiuma. if any;aad(� aay sums payabk by Bamwer W
<br /> l.ender,in accordance with the pravisions of paragraph 8,in lieu of thepaymant of mortgage insuraace pnemiwat� Thece
<br /> items a�+e called"Escraw ltems." I.ender may,at aay dme,collect and hold Funds in an amouat na to exceod tho maximum
<br /> amount a leader for a federally related mortgege loan may reguire for Borrower's escrow account uMer the fedarwl ltenl
<br /> �„ .. E.gtate Settlement Procalures Ac�af 1974 as amended from timc to time. 12 U.S.C.$2601 et uq.("R�SPA"),unksa onother
<br /> •� . - g' ��� law that applies to the Punda sets a ksser amount. If so,I.endar mey,et au}r dme,coUcet and hold Wnds in an amouat not to
<br /> - exaed the ksser amaunt. L.ender may esdmate the amount of F�nds due aa the basls of cumnt data atd ronaonabk
<br /> ��� t����� esdmetes of expendilures of future 8serow Items or otherwise in accordence with applicable law.
<br /> - The Punds ahall be held in an instituHon whase depasits are insured by a federal agency. instrumeatallty.ar eatiry
<br /> ;;.' =" � "��'�•' (including Lender,if I.ender is such an insdtudon)or in any Federal Home Goan Bank. l.ender shell apply the Fundv to pay
<br /> - ' � ��..• .
<br /> ' �.� the Escrow ltems. L.ender may nat charge Barrower for holding and applying the Fbads.annually analyzing the esc�ow
<br /> �� ,,�;��Fv;`•:�M. account,or verifying the Escmw Items, unless l.ender pays Horrower interest on the Funds and applicable law potmitv
<br /> . �
<br /> �����.�• ' �r;`" °��'^ ,�► Lender to mal�e such a chazge. Hawever,l.ender may rcquir+e Borrower to pay a one-time cherge for an independent teal
<br /> �,. �,_� �� .,�,. .
<br /> f� Fr�`+�.!:Y�}�R�l;.;��Rh, estate taa reporting service used by Lender in cannectian with lhis loen,unless applicable law pravldea otherwlsa Unlosa m
<br /> �;�r�r,�;��1}.,. ;::,,�� " agreement is made or epplicable law requires interest to ba pald,I.endar shall not be required to pay Bortower any inter+est or
<br /> . ����.;� `.. eamings on the Funds. Bortower and l.ender may agme in wridng,however�that interest shall be paid on the Fliads� Lender
<br /> �:�:,'-, .'`%:� � �' �"; shall give to Borrower,wi�hout charge,an annual accaunting of the Funds,showing cred3ts and dabits to the PWndv ond the
<br /> '"' : pufpose for which each debit to�he Fl�nds was mada. Tha Fund�are pledged as additioaal securiry for all suma cecure�by
<br /> `�;�t;.:. ,.: � thjs Secu�ity InsqumenG
<br /> _ , It'ihc Funds hcld by Lcnder exceed the smount� permitted to be 4seld by applicable lew,L,ender she!! acc��nt to
<br /> • . Borrower for the excess Funds in accordance with the requiremants of applicable law. if tho amount of the Flutds held by
<br /> Lender at any time is nat sufftcient to pay ihe Escrow ItemF whan due,l.ender may so notify Borrower in wrldng.and,in
<br /> �•. such case Borrower shull pay to l.ender the umount necessary to make up the deficiency. Borrower shall make up�he
<br /> ' '���,'� deficiency in no more ihan twelvc monthly paymenis,p1 Lendcr's solc discretion.
<br /> ' Upon payment in full of all sums secured by this Security Insuument,Lender shall promptiy refund W Bomower eny
<br /> Funds held by Lender. If,under paragrnph 21,Lendcr shall acquire or scll tha Propeny,L.ender.prior to ttie acquisition or
<br /> � sale of the Propeity, shull npply any Funds held by l.�:ndor at the time of acquisition or sale as a credit egainst the sums
<br /> � � secured by this Security lnsuument.
<br /> � 3. Application ot Payments. Unle,s nppiicaBle luw provides othorwise, all payinents received by Lender under
<br /> ,�w � paragrnphs I und 2 shull bc s�pplied:firs�,to any prepuyment charges due undar the Note;second.to amounta payable under
<br /> �� paregrnph 2;third,to intercsl due;faurth,to principal due:and lu�t,to uny lute charges due under the Note.
<br /> . 4. Chwrges; Liens. Borrowcr shnll pay all tuacs, uzsessmentx, chiuges, fines and impositions atWbutnble to thc
<br /> � Prop�rty which may attain priority over this Serurity Instrumem,und Ieasehold payments or ground rents.if any. Borrower
<br /> { . shall pay thesc obligations in the monner provided in puraFraph?,or if not paid in thut manner,Burrower shall pny them on
<br /> � � � time directly to the pcnon owed p�yment. Borcower shall promptly fumish ta l.ender all notices of wnounts to be paid under
<br /> this psuagraph. If Borrawer mukes thrse payment�directly, Borrower whall pramptly furnish�a Lender receipts eviden�fng
<br /> �`�` the paymcnts.
<br /> , Borrower sholl pmmptly disrharge any lien whirh hus priority over this Security Instrument unless Borrower:(a)agrees
<br /> s, in writing�o the payment of the abliFution�rcured My thc lian in u munncr urcep�able to Lender;(b)contexts in gaod faith the
<br /> lien by,or defendx against enfcxcement of thc lien in,Icgal p�exeedings which in the Lender's opinion open+te to prevent 1he
<br /> . enforcement of the lien;ar(c)secures from the hulder of ihc licn un ugrecment tiutisfurrory to l.ender subordinuting thc lien
<br /> ' to this Securiry Instrumr.nt. 1 f Lender determines thnt uny part oi'thc Propeny ia subj�ct ta a lien which may atwin priodty
<br /> , • over this Sccurity Instrument, Lender may give Bom►acr u noticc identifying the lien. Barrower shall satisty the lien or take
<br /> � � ' ' one or more of�he uctiims set torth uhovc within 10 duyc of thc�iving of noticc. �,.•
<br /> , 5. H�rd or Property Inaurance. Bormw•cr shAll kecp the improvements now exis�in�or hemafter erected on the
<br /> . Property insured aguinst loss by ferc,huzurd+inrludcJ a•iihin thc trrm"rx�endrd covcraFe"und uny othcr hazurds,including
<br /> � , flaods or floading, for which Lender require+ imurunrr. Thi+insurance shull l� muintuineJ in the umount4 and for�h� ;,�
<br /> � � 4
<br /> . Fornt 3D28 9/90 IpuRt 1 uJ6 pug�rl
<br /> � +. , I
<br /> ' �
<br /> � ' r
<br /> a I
<br /> `.' . �y•1 _'. _.' _ . :'1' • � . ' � - . .. . ' .. . '7..,;����_. ..� ,I. �;�„ .
<br /> i � ,
<br /> .
<br /> 1 ,�— "' � . �� '
<br /> � • .
<br /> .� . "� � � � _ •
<br /> .1 L~ � I ' ' ,1 _ e�'' � .
<br /> T �I�:
<br /> . ' \.�' '
<br /> ! ' . , 1
<br /> 1
<br /> ' � ; , ,�
<br /> � f
<br /> ,
<br /> i ' �
<br />
|