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<br /> — TOGETHER WITfi ali the improvements now or hereafter erected on the property,and all easements.appwtenances.and � . . ` :'_,��_
<br /> - ' � � fixtur2s now or hereafter a part of the property• A11 cePlacements and addinons shall also be covered by this Security _• •. �r�____.
<br />�:�:� . . - In����nt.AII of the f�regoing is referred to in this Seairity Instrument as the"Property-" � �`` �� ��
<br /> BORROWER COVENANTS tbat Borrower is Iawfiilly seised of the estate hereby c�nveyed and has the right to grant aad
<br />��� " ._._�-• .��_;, convey the Property. and-th.�et tt�e Pcoperty is wzencumbered. except for encumbrances of record: Borrower warrants and w�l � . .�-'�
<br />-� � -- . defend�geaerally the title to the Property against alt c!aims and demands.subject to any encumbrances of�ecurd. . . :.�
<br /> ,�.��y �_. .
<br /> .,� , ' � TFiLS SECURITY INSTRUMENT cambines tsniform covenants for national use and non-uniform caveaanis with timited -- .4 �•.
<br />� f .• . . variations by jurisdiction to consdtute a uniform secutity instrument covering rea!property. _ �,� �
<br />_ --�• -�� � UMFORM COVENAN7'S.Borrower and Lender cov�ant an�i agree as follows: � , " '��
<br />�� '.� ` - � 1. Payment of Principal and Iuterest;Pregayment and Late C6aiges. Boaawes shall promptiy pay when due the � • �°
<br />` • ` . � . . principal of and interest on the debt evidenced by the Note and any prepayment and late charges dqe undcr the Note. �•� `�° 4
<br />� ' ' � • • � Z. Funds for Taxes and lasurance.Subject ta applica6ie law or to a written waiver by Lender, Borrower shall pay to '�:. •='� •`
<br />� � � � Lender on the day mogtlily payments are due ua3er the Note.undl the Note is paid�n full,a sum("Funtfs")for:(a)yeariy taxes ��-'-+�� ��
<br /> early teasehold ments ''�::�'�'+� �
<br />`� � , �� � and assessments which may attain priority over this Security Instnuueat as a lien on the I'roperry:(b)y PaY A�MY��. ;
<br /> s= � � • ,- � or gound reats on the Property.if any:�c)YeadY ha7art3 or property insurance premiums:(d)YearlY tlaod insuTance premiums, �' . ��
<br /> -� able b Borrower to I.ender, in aceorQance wi@► � ��
<br /> _ - - if any;(e)Year1Y m�rtgaSe insurance premiums, if any;and(�anY sums PaY Y - -- -
<br />'i_ �`" ,`.°, ' ,' �, the provisions of paragraph 8.in lieu of the payrTtent of mortgage insurutce premiums.These items are dled"Escmw Items."
<br /> �� .Lender may, at any rime, collett aad hold Funds in an arnount not to exceed the maximum a�ount a lender for a fe�erally' __
<br />= � - related mo r t g a ge loan may require for Borrower's escrow account under the federal Real Estate Settlement�Procednres Act of =__-
<br /> -L,.� : ` ' • ' . 1974 as atnended from time to time, 12 U.S.C. Section. 26U1 et seq.("F.ESFA'),unless anoth�r law that app lies tn t he Fn n ds _
<br /> :_�
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<br />_'.;-,,-:=--------.,.r,,- . .. ---- - sets a�esser-�amaunt.If.so..Lendecmay,$c.auy_--time, c.�ll.ect,and hold Funds in an amount not to exceed the amouat. '�`
<br /> -----��--------�--�-�---
<br />- � � I,ender may esamate the amount of Funds due on the basis of current data and reasonable esnmates o�espenaifdies of ture-"�� � __
<br /> - • Escrow Items or otherwise in accordance with applicable law. �
<br />- � The Funds shall be held in an.insdtuUon whose deposits aze insured by a federal agency. instreimentality. or entity
<br /> - .� - (including Lender,if Lender is such an instituuon)or ue any Federa!Home Loan�ank.I.ender shall.appiy tlae Fonds to pay the
<br />-- . � ' Escrow Items.Lender may not charge Bonower far holding and applying the Funds;annaalty analyzing the escrow account.br
<br /> . .:.. ... _ . .
<br /> ' • � • verifying the Esccow Items,uniess I.ender pays Bormwer interest on the Funds and applicable!aw pernau I.ender to make such ' �����—
<br />'_ �.. . _ . . ' : a charge.However, I.ender may require Borrower to pay a one-time charge for an independent mal estate tax reporting service �.
<br />- , , used by Lender in connecaon with this loan, unless applicable law provides otherwise. Unless an agreement is made or
<br /> ' . �. �� � • '" applicable law reqoires interest to be paid,Lea¢er.shall not be requireA to pay Borrower any interest or eamings on the Fuuds.
<br /> ��� � � Bonawer and Lender may agree in writing. however,that intcrest shall be paid on the Funds. Lender shalt give to Bonower. ��-
<br />�; . � withaut charge. an anmial acwunting of Ihe�ands, showing crediu and debiu to the Funds and the parpose for which each �;�-•—_
<br /> " ' � debit to the Funds was made.The Funds are pledged as addirionat security far all sums secvred by this$ecurity Insmut►en� . ��=
<br /> �•__
<br />_ � - � __ If the Funds held by Lender exceed the a►nounts permitted to be held by applicable law.Lender shall account to Borrower .��;
<br />-t� .� ., . . : for the excess Funds in accordance with the requiremenu of appticable law. It the amowt of the Fands held by Lender at any ��
<br />�-* • ' � . time is not sufficient to pay the Escraw Items when due.Lencler may so notify Borrawer in writing.and.in such case$orrower �.�.
<br />- � " • shall pay to Lender the amount necessary co make up the deficiency.Borrower shall make up the deficien�,y in no mare than �,-__-=—
<br />__ ` � • ' " twelve monthiy payments.at i.ender'ssole discretion. ' '' �'f�
<br />-?�, ' . � Upon payment in full of all sums secured by this Security Insuument, Lender shall promptly refund to Borrower�y ��
<br /> - • . • h 21 Lender shall ac uire or sell the Property.Lender.prios to the acquisition ar sale �'+ ���
<br /> =_;, . . Funds held by Lender.If,under paragrap , 4 ;�
<br />— ` � , . � .of the Property, shall appiy any Funds held by Lender at the time of acquisiuon or sale as a credit against the sums secur�by _
<br /> - � �. this Security Instrtiment.
<br />= �� - � 3.Applicatton ot Payments.Unless applicabte law provides otherv�ise.all payments re�:eived by I.ender under paragaphs
<br /> . 1 and 2 shaQ 6e applied: first,to any prepayment charges due under the Note:second,to amount��ayable under paragraph 2: �_ _
<br /> 3:, � • third.to interest due;founh.to principal due:and tast.to any late charges due under the Note. —
<br />�_� . , � ' 4.Charges;Ltens.Borrower shall pay a!!taaes, assessments.charges. fines and impositions attributable to the Property
<br /> . ,. „ " which may attain priority over this 5ecuriry Instrument, and leasehold payments or ground rents, if any. Borrowet shall pay �---
<br />- - • � � - , these obligations in the manner provided in para�ph 2,or if not paid in.that manner,Borrower shall pay them on time dlrectly �"T''�--
<br />_�::�� `• � ' . to the person owed pa}rment.Bortower shall pramptly fumish to Lender all noGces of amounts to be paid under this paragraph.
<br /> .^1`:,.
<br />� ; `. _ „ I4 Borrower makes these paymenu d'uoctiy.Borrower shall promptly furnish to Lender receipts evidencing the payments. �,�
<br />_ � . . . Borrower shall prompUy discharge any lien which has prioriry over this Security Instrument unless Borrower.(a)agrees in ,y_
<br />- •� .' _. _�. _ writing to thc payment af the obligation secured by the lien in a manner acceptable to Lender;(b)contests in good faith the lien ��'•;.�,. �
<br />�`� . �J� . . � by. or.defends a�ainst enforcement of d:e lien in, legal praceedings which in the Lender's opinion opemte to prevent the ; .: �
<br /> ' � � enforcement of the lien;or(c)secutes from the hotder of the lien an agreement satisfactory to I.ender subordinating the lien to �,�� . ,
<br />=;a* . . . ' .
<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 Jnstwnent.Lender may give Borcower a notice identifying the lien. Bomower shall satisfy the lien or taEce one or � . . . .
<br /> � � ,' , more of the actions set forth above within 10 days nf the giving of notice. �
<br />�� . - � .. Form 3028.9I8� ' _
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