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<br /> ' '' , TOGETHNR WI'TH all thc improvemcnts now or her�;ufter cre�:ted on the propeny. nnd all easements,appurtenances,
<br />:�;p��,- ;_��'� and fixtures now or herenfter a part of the property. All repincements und additions shall also be covered by this Security •�.�
<br /> Instrument. All of thc foxegoing is referrcci to in this Sccurity Instrumcnt as the"Property." �2
<br />..;n �� BORROWER COVENANTS that Bonowcr is IawfuUy seised of the estste hereby conveyed and hus nhe ri�ht w graut �,;�,�
<br />"�'' nnd convey the Property�utd diat the Property is unencumbered,except for encumbrances of record. Bonower warrants and �^-
<br />- � wiU defend generally the tide to the Property against all claims and demands,subject to any encumbrances of recard. �
<br /> TH[S SECURITY INSTRUMENT combines uniform covenants for nadonal use und non-uniform covenants with �'';`
<br />- ' • limited variations b urisdiction ro constitute a uniform securit instrument coverin real ro ert . "'r""
<br /> yj Y S P P Y s+�_`
<br /> • UNIFORM COVENANTS. Boaower artd Lender covenant and agree as follows: �"
<br /> r: . ° 1. L�ayment of Psfncipal nnd Interest;Prepayment and I.ate Ciiar�cv. Borrower shall promptly pay tivhen due the t�=s=�
<br /> - ' principal of and interest on the dcbt evidenced by the Note and any prepayment and late charges due under the Note. __
<br />, � 2. ILnds for'l�xes and Insueance. Subject to applicable ln�v or to a wdtten waiver by I.ender,Borrower shall pay to
<br /> � Lender on thc day monthly payments are due under the Notc,until the Note is paid in full,a sum ("Funds")for:(a)yenriy __:
<br /> ' taxes and assessments which may attain priority over this Security[nstrument as u lien on the I'roperty: (b)yearly lcasehold _
<br /> '� paymcnu or ground rents un the Property, if any; (c)yearly hnzard or property insurnnce premiums; (d) yearly floud
<br /> � • • insurance premiums, if nny; (e) yearly mortgage insunnce premiums, if any; and (� ruiy sums payable by Borrowcr to _
<br /> Lender,i�accordance with the provisions of paragraph 8, in lieu of the payment of mortgage insurance premiums. These
<br /> � • items are enlled"Escmw Items." Lender may,ut any time, collect and hold Funds in an amount not to exceed the ma�ci►num
<br /> � amount a lender for a feder;illy related mortgage loan may tequire for Borrower's escrow account under the federal Real
<br /> Estate Settlement Procedures Act uf 1974 as amended from time to time. 12 U.S,C.§2601 et seq.("RESPA"),unless another �_
<br /> law that applies ro the Funds sets a lesscr amount. If so,I.�nder may,at any time,collect and hold Funds in an amaunt not to --
<br />� � exceed the lesser nmount. Lender may estimate the amount of Funds due on the basis of current data nnd reusonable --:
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<br /> estimates of expenditures of future Escrow Items or othenvise in accordance with applicable law. MJ:
<br /> • The Funds shall be held in an institution whose deposits arc insured by a federnl agency, inswmentulity, ar entity
<br /> , (including Lender.if 1 ender is such an institution)or in any Federal Home Loan Bnnk. Lend�r shaU apply the Funds to pay
<br /> ' ' the Escrow Items. Lender may not charge Borrower for holding und applying the FUnds, annually analyzing the escrow
<br /> accoun¢, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds und npplicable law pe►mits
<br /> Lender to►nake such a chnrge. Howcvcr, Lendcr m�y reyuire Borrower to pay u onc-time charge for an independent real
<br /> estate tax reporting service used by Lender in connection with this loan,unless applicaBle law provides othetwise. Unless an
<br />-• �:°°'-,_I . . "° °:.a..L�•d�:s::s!1 r.c:�r�;�;*?�!t•,pay Rnrrnwer any interest or �
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<br /> earnin�s on.he Funds. Borrower and Lender may agree in writing,however,that interest shaDl be paid on thc Fands. Lender �'
<br /> , `•.�.� shall Eive to Barrower,without charge,an annual accounting of the Funds,showing credits and debits to the.Funds and the
<br /> purpose for which each debit to the Funds wns made. The Funds are pledged as additional securiry for aU sums secured by �—
<br /> this Securiry Instrument. �`
<br /> . � If the Funds held by Lender exceed the amounts permitted to be held by applicable law, Lender shall account to =
<br /> ., ` Borrower for the excess Funds in accordance with the requircments of applicable law. If the amount of the Funds held by =-
<br /> Lender at any time is not sufficient to pay the Escrow Items when due, I.ender may so notify Borrower in wriYing,and,in `
<br /> � such case Boaower shall pay to Lender the amount necessnry to make up the deficiency. Borrower shall make up the C�',-
<br /> deficiency in no morc than twelve monthly payments,at Lcnder'.s sole discretion. '•`� -
<br /> Upon payment in full of all sums secured by this Security insuument, 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 scquisition or
<br /> , , sale of the Properry, shall apply any Funds held by Lender at the time of ucquisition or sale 1s a crcdit against the sums
<br /> , " �: :; secured by diis Security Instrument.
<br /> 3. Appllcndon of Payments. Unless applicablc law provides othenvise, all payments received by l.ender uncfer
<br /> . � paragraphs 1 and 2 shall be applied:first,to any prepayment charges due undcr thc Note;second,to amounts payable under
<br /> " paragraph 2;third,to interest due;fourth,to ptincipal due;and last,to any late chargcs due under!he Note.
<br /> 4. Charges; Lieas. Borrowcr shall pay all taxes. assessments, charges, fines and impositions atuibutuble to the
<br /> Property which may attain priority over this Securiry Instrument,and leasehold payments or gmund rents,if any. Borro�ver �
<br /> •• shall pay these obligntions in the mancicr provided in paragraph 2,or if not paid in that manner,Borrower sh�ill pay them on
<br /> � . � time direc:dy ro the person owcd payntent. Jiorrower shall pmmptly fumish to Lendcr all notices of amounts to be paid under °
<br /> � •. , this paragraph. If Borrower makes these payments directly,Borrower shall promptly furnish to Lender mceipts evidencing
<br />_� the payments.
<br /> � " Borrower shall promptly discharge any lien which has priority over this Security instrument unless Borrower:(a)ugrecs
<br /> , , . in writing to the payment of the obligation secumd by the licn in a manner acceptable to Lender;(b)contests in good faith the ,
<br /> � lien by,or defends against enforcement of the lien in,legal proceedings which in the Lender's opinion operate to provent the
<br /> �� enforcement of the lien;or(c)secures from the holder of the lien an agreement satisfactory to Lender suNordinating the lien
<br /> � to this Securiry Instrument. If L,ender determines that any part of the Praperty is subject to a lien which may attain priority
<br /> r over this Security lnstrument,Lender may give Borrower a notice identifying the lien. Bonower sh:ill satisfy the lien or take
<br /> ' �� one or more of thc nctions set forth ubove within I O duys of the giving of notice.
<br /> 5. ��wrd or Property Insurartce. Borrower shall keep the improvements now existing or hereafter erected on the
<br /> Propecty insured aguinst loss by fim,hazards included within the term"extended coverage"and any other hazards,including
<br /> . floods or flooding, for which Lender requircs insurance. This insurance shall be maintained in the amounts und for thc `
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