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<br /> — 1'O(i�THBR WITH ufl the im�rovements now on c�reafter erected on tha property,and all casen�enta,appunei►anccs.and '
<br /> " - fixtures now or hereafter n pari af 1he praperty. Ali replac�enunt� nnd udditic+ns shalt ulso be cavcred by tids Security
<br /> ` Instruu�cnt. Atl of the farcgofng�s roferred ta in this Security Instrument ay tho"Property." �
<br /> l BORROWER COV�NAN'TS that Burrowzr ia lawfully selsed of the cstate hereby conveyed und he.v tfle rtght to�rartt a�d
<br /> c:onvoy the Property and that tha Property is unencumbered.except far encumbriuices of ircord. Horrower wamtnts and will
<br /> � deferd generally the tide to the!*roperiy against all cla�tns and demand9,aub�ject to any encumbcattces of record.
<br /> � THIS SECURITY iNSTRUM�NT combines unifonn covenants far nutional use nnd non-unifocm covenunta wlth limitcd —
<br /> -� -- --"--`�� variations by jurisdlction to wnstttute a uniform security instniment covering rcal property. `
<br /> ! UNIFURM COVSNANTS.Borrower an�1 Lender covenant fuul agree us follows:
<br /> ; 1. Payment of Fclnclpwl and Interest; Pc+epayment nnd Late Charges. Bonower ahali pramptly pay when duc the
<br /> -- � principal af und interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
<br />_ 2. Funds for Taxes aad Ynsurnnce.Subject to applicable law or to a wdtten walver by L.ender, Horrower shall puy tc�
<br /> __ ; [.ender on the day monti�ly payments ara due under the Note.until the Note is paid in fuq,a sum("Funds")far:(a)yenrly tax�
<br /> � i aad sissesssmcnts which may ausin priodty over this Secudry Iastrument as u lien on the Property;(b)yearly leasehold paymenu
<br />�; I or ground r�nts on the Property.if any;(c>yesrly hazand or property insutance premiums;(d)yearly flood insurance pnamiumg.
<br /> if any; (o)yearly mostgage fisurunce preiniums, ff any; snd(�any sums paynble by Borrowcr to Lender. in uccordancc with
<br /> �.:' i the provisions of paragraph 8,in lieu of the payment of mortgage Insuranca premiums.These ltems rue culled"Escrow Items."
<br /> ���+ l.ender may. nt any time, collect und hold Funds in an emount not to exceed the maximum amount a lender for a federally
<br /> ,,. � related mortguge lonn may require for Borrower's escrow account under tfie federel Real Estate Settiemeat Procedures Act of
<br />�,�" � 1974 ux amended fn�m time to time.-12 U.S.C.Sectton 2601 et seq. ("RE9PA"). uNc�s.sinother law that applies to tha Funds _
<br /> 4 sets a lesser amount. If so. Lender may, at any dme, coliect and hold Funds in an r�mount not to exceed the lesser amount.
<br /> � Lender may estimate the amount of Funds due on.ihe basis of cwrent data And reasonable estimates of expendttures of future
<br /> � Fscrow Items or otherwise in uccocdance wIth applicable Isw.
<br />, E The Funds shall be held In un Insdturian whose depoait� are insuretl by a federA! agency. instrumentality. or entity
<br /> I (inctud[n�Lender.it'L,ender is such an institution)or in any Fedorel Hame i.aan Bank.Lender shalt apply the Furxis to pay the
<br /> � Escrow Items.[.ender may not oharge Borrower far holding and applying tha•Funds,annually analyzing the escrow account,or
<br /> verifying the Fsrrow Items.unless Lender pays Borrowec interest on the Funds and applicable law pern►its L.ender to muke such
<br /> a charge.Howeve�,Lender muy require Borrower to pay a ane-time charge for an independent reul estate tax reporting servlce
<br /> used by Lender in connection with this loen. unless applicable luw provtdes othenvise. Unless an agreement is made or
<br /> � $t applicuble Iaw requires interest to be paid,Lender shall not be required to pay Borrower any interest or eamings aa the Funds.
<br /> ` �^'`+ Aorrower urtd Lender may agree in wr�ting. however,that interest shell be paid on the Funds. Lender shall give ro 1Borrowec.
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<br />. � ' I without char�e, an nnnual ar.counting of the Funds. showing crcdits und debits to the Funds and the purpose for which each
<br /> debft to the Funds was r�iadc.The Funds cue pledged as additional security far�II sums secumd by this Secudty Instrument.
<br /> [f the Eunds held by L.ender exceed the umounts permitt�-d to be held by applicable law, L.ender�hatl uccaunt to Borrower
<br /> for thz excess Funds in uccordance with the requimmenu of applicable law. [f the amount of the Funds held by Lender ut any
<br /> • . <�s, time is not sufficient to pay the Escrow Items when due.Lender muy so notify Borcower i� writing,and,in such case 8orrower
<br /> - � shatl pay to L.ender the amount necessary to mcike up the deficiency. Borrowcr shall muke up the deficienry in no more thnn =
<br /> - twelve monthly paymentr,,at Lender's sole discretion.
<br /> - Upon payment in fuli of all sums secured by this Secur�ty Instrument. Lendcr shalf promptly rcfund to Borrower any
<br /> Fund�s held by Lender.If.under paragraph 21, I.ender shall ucquire or sell the Propeny,Lender,prior to the acquisition or sale ,
<br /> �, of the Prop¢rty, shall apply any Funds hcld by Lender at the time of acquisition or sate as a credtt ugainst the sums setured by - -
<br />��y this Security Instrument. �'�"
<br /> 3.Applieation of Puyments.Unless applicuble luw pmvtdes otherwise,ull payments received by i.ender under paragraphs �'�-�
<br /> t aad 2 shall be applied: first,to any prepayment chnrges due under the Note:second.ro amounts payable under parugcaph 2: m
<br /> third,to interest due:fourth,to principai due:and last.to any late charges due under the Note. �;
<br /> i� 4��hnrges; Lfens. Borro�ver shall pay all taxes, assessments, char�es, fines and imporitions nttributnble to the Property
<br /> ' which may attain priority over this Secudty Itutrument, und leasehold payments or �round rents, if any. Borrowar shall pay '�� �
<br />_ {"� � these obligations in ihe munner provlded in paragraph 2.or if not paid in that manner. �rruwer shnll pay them on time direcdy
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<br /> �'�'';''�'i?�� to the persnn owed pnyment.Borrower shaU promptly furnish to Lender uii notices of amounts to be paid under this paragraph. �
<br /> "'�'�i�'�� If Borrower makes these puyments dircctly,Bnrrower shalt promptly furnish to Lender rcceipts evidencing the payments. `
<br /> 1,- x.'';�,�� Borrower shall pmmptly diuhurge any lien which has priority over thiti Sccurity instrument unless Barrower: (a)agrees in
<br /> .�y '� • writin to the a ment of the obli ution secured b the lien in u munner acce table to Lender:(b)contest,in ood faith the lten
<br /> - ^�•; :� ; S P Y S Y P S
<br /> �►�:�."- ''� '� by, or defends a�uinst enforeement of thc licn in, Icgul proceedin�;s which in the LenJer's opinion operate ta prevent the
<br /> �`� :�" ` enforcement of the lien;or(c)sccums from the holdcr c�f the lien an agrcement satisfactory ro Lcnder sut�ordinating the lien to
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<br /> , this Sacurity lnstrument. If I.ender determines that uny pan of the Pmperty is subject to a lien which muy attain priority over
<br /> . ��� � this Securiry Instrument. Lender may give Borrower u nrnice identifying the licn. Borrower chall �tisfy thc licn or takc nnc or
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<br /> � �R��u,��`,_i -:• nmre of she actions set fonh vbove within 10 duys of the giving of notice.
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