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<br /> -y�`. .� �� • TOG�3'HER W[TH alI the improvements now or hereafter erected on the groperty.and�li—e�ne u.aPPurtenaaces.and '� ` -
<br /> ` 's� '� fixtu�s now or hereafter a part of the property. All replacements and additivas shall also Ee covered by this �ecurity �
<br /> J� •=J= .� � Iastr�ment.All of the foregoing is referred tu in this Security Instrument as the"Property." ; , ' _
<br /> ��,w.:,. :.� .L, .� -
<br /> .,. ; gpRRpWER COVENANI'S that Borrower is lawfully seised of,the estate h:reby conveyed and has the right to grant and
<br /> , , . , convey the Property and that the Property is unencumbered.except far encumbtanves of record. Borrower�varrants and will `,
<br /> � . � defend generaily the tifle to the ProPertY against ali claims asid demands.subject to any encumbranoes of record. __ _�: : ,
<br /> _ y�„L�=�-;' TEIIg SECLIRITY Il�ISTRUMEI�T combines uniforrp onvenamts for national use and non-nniform cavenants with limited _ ` _��
<br /> - ��-�`" variations by jurisdiction m constitute a uni�'orm security instrument covering real property .
<br /> . ,���.,� ;r•..; ,� , . .
<br /> �. . _ (TNIFp?iM COVENANTS.Barrowerand Lender covenam and agree as foltows: .
<br />��P� •• �~'� �°'� ,- 1. Payment of Pr�acipal and Interest; Pre�aymeat and Late Charges. Borrower s6all prompdy pay when due the Q - •
<br />�=, - ' � principal of and interest on the debt evidenced by the Note and arry prepayment and late charges due under the Note. . , '.` , `
<br />`�°'� � ' 2.�'unds for Taxes and Insmancx.Subject to appficable law or to a written waiver by Lender. Borrower shall pay to � �
<br />�" t�. ' � � ': Lender on the da mantiil a aze due under the Note,until the Note is paid in full,a sum("Funds")for.(a)yearly taxes `• ' . L. .
<br /> - -• ,r..._ . Y Y P Yments , _
<br />�� •• ,. : � and assessments which may attain priority over tlris Security Instrument as a lien on the Pmperty:(b)Yearty leasehold pay�nts . ..' :" , _
<br />-��j__' `. .. ! or graund re�s on the Property,if any;(c)Year1Y ha7ard or p�gerty insurance premiums;(d)Yearly flood insutance premiums, . � . . •r.�•
<br /> .. J if any:(e)Yearly mortgage insurance premiums,if azry;and(�anY s�ns PaYable by Bonower to I.ender. in accoidance with , . .. .;`_ `
<br />��,' c n . ' tN''':•��"—
<br />��• . .' ,`� � the provisions of paragiaph 8.in lieu pf the payment of snortgage 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 federally � ��,''�,�x,.
<br />�� ' �•• ' related mortgage loan may requirc for Bormwer s escrow account under the federal Rea!Estat�Settlemeut Procedure�Act of • �° < �-
<br />_��_
<br /> ��' • � • 1974 as amended from t+me to time, 12 U.S.C.5ection 2601 et seq.("R�SPA").unless another!aw that applies to the Funds . , tr •ti,��•_
<br /> =� -"� ._ti,,:;_ _ seis a lesser amount. If so. Lender may,at any time,collect and hold Funds in an amount not to exceed the Lesser amuunt. :' �'i• ;�;,;�
<br />���` . ' -- - --�--- ..i,,.,��,,'�;
<br /> - --ixnder may�-estimate�the-amotmt�f�Funds�due on-the basis-of�urrent data-and.reasonable�stimates stf e�geAdit.�ues of thture_ _ �..
<br /> µ1 ,m,m. �_
<br />�; . ' �' F.scrow Items or otherwise in accordance with applicable law. • j '9�
<br /> ' " The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality. or entity -'�`
<br /> -� � . . •. ..
<br /> ,•�� �; ._ (inclading Lender,if I.ender is such an insutuGan)or in any Federal Home Loan Bank.Lender shal!apply the Funds to pay the • � y,�
<br />��1 �_:- :�.,....;..... � =
<br /> • Fscrow Items.Lender may not charge Borrower for holding and applying the Funds,annually analyzing the escrow account,or
<br />�.. • ,' � verifying the Fscrow Items.unless Lender pays Borrower interest on the Fiuids and applicable law pemiits L.�rder ta make such- ' �_�-�
<br />'� � � ' a charge.However, I.ender may require Borrower to pay a one-time charge for an independent real estate tan reQorting service
<br />�'• � . • � ' used by Lender in wnnection with this Ioan, unless applicable law provides otherwise. Unless an agreement is made or -�
<br /> �.� �_ � applicable law reyuires interest to be paid,LQnder shall not be required to pay Eorrower any interest or eamings on the Fpnds. �_ '�
<br /> •, " ' , Borrower and l.ender may agree in writing,however.that interest shall be paid on the Funds. I.ender shall give to Borrower. :��'
<br /> ,. �� without charge, an annual accounting of the Funds, showing crediu and debits to the Funds and tRe purpose for wHich each •, x,�
<br />� : . . . i..
<br /> . debit to the Funds was made.The Funds are pledged as additianal security for all sums secured by this Securicy Instrument.
<br /> ' . :C}±'�> .
<br />�� � ' ; � • If the Funds held by Lender exccec!the amounts permitted to be held by applieable law,i.ender shali accouni to Borrower _ �
<br />-��° �` for the excess Funds in accordance with the requiremenu of applicable law. If the amount of the Funds held by Lender at any � .`a�
<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 />�• tt: ,.
<br /> ��,� . � . shall pay to I.ender the amount necessary to make up the defiriency. Borrower shal!make up the deficiency in no more than
<br />-_—- ' ' . . twelve monthly payments.at Lender's sote discretion. ��"' -
<br />° '� . �� ` U on a ment in full of all sums secured b this Securi Instrument. Lender shalt promptly refisnd to Borrower any � ��'��� ,;
<br /> . • P P Y Y ty 7�:=�,".° .
<br /> � � � Funds held by Lender.If,under paragcaph 21.Lender shall acquire or scll the Property. Lender,prior to the acquisition or sale •�:+x?::�
<br />� ,:.,
<br /> of the Pro e shall a I an Funds hetd b Lender at the time of a uisition or sale as a credit against the sums secure�by ��n�
<br />�`. ' ' • . . .. P rtY• PP Y Y Y �1
<br /> .. . � .tv �,�j�yti-7.. _
<br />-=�_'_�;;�.�_?..'.;:_�.-. thisSecurityInstrument. - •� _..�:•. : �.
<br /> ,��... . '� 3,APpltcatlon oY Payments.Unless applicablc law provides otherwise,all paymenta received by Lender under paragraphs� '' ':•:• .
<br />.� ' ' ���• 1 and 2 shall be applied:first,to any prepayment charges due under the Note; second, ta amounts payable under paragraph 2: ; �' •'��• '
<br /> �..• � ....
<br /> � � � � t hir d,to in teres t due;fou rt h.t o p ri n c i p a l d u e:an d l a s t,t o a n y l a t e c h a r g e s d u e u n d e r t h e N o t e. , .:�.��� . •
<br /> - � 4.Char�es;a.iens. Horrower shall pay all taxes.assessments.chazges,fines and impositions attributable to the Property = i , '�r-,
<br /> . �. . . ��
<br /> �� which may attain prioriry over this Security Instrument, and leasehold payments or ground ren�s, if any. Honower shall pay . .
<br /> • ' these obligations in the manner provided in paragraph Z.or if not paid in.that manner.Borrower shall pay them on time directly ' ' . .
<br /> � : to the person owed payment.Borrower shall promptly fumish to Lender all notices of amounts to be paid under this paragraph. :- , � : � �
<br /> , � � . if Borrower makes these payments directly.Bonower shall promptly fnrnish to Lender receipts evidencing the payments.
<br /> :� , ; . Bonower shall promptly discharge any lien which has priotity over this Security Instrument unlcss Borrower:(a)aarees in :�
<br />'_ `` :. ' writing to the payment of the obligation secured by the lien in a manner acceptable to Lender:(b)contests in good faith the lien
<br /> .` . , by. or defendc against enforcement of the lien in, tegal proccedings which in the L.ender's opinion operate to prevent the : �
<br />_ '� . ` eafor�ement of the tien;or(c)secures from the holder of the lien an agreement satisfactory.to l.ender snbordinating the lien to ;
<br />- •� � this Security Instrument. If Lender�etermines that any part of the Property is subject to a lien which may attain priority over � . :
<br />� • �- � this Security lnstrument.Lender may give Borrower a notice identifying the lien.Borrower shall satisfy the lien or take one or
<br />�•r.�.:. ; more of the actions set forth above within 10 days of the giving of notice. • • ,
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