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<br /> TOGETHER WITH all the improvements now or hereafter es'ectcd on thc nrc!percy, a�aTl �semc��h'��s. anc�
<br /> fixtures now or hereafter a parc of the property. All replacernents and additions shail also be cav�red by this Security
<br /> Irutrutnent. �Il of the torcgo'sng is referrcd to in this Security Instrument as the"Property."
<br /> BOftROWER COVENANTS that $orrower is lawfully seised of the estate heteby conveyed and has the right to grant and
<br /> convcy the Prapeny and rhac the Prnperty is unencumberecl, except for encumbrances of record. Borrower warrants and wi11
<br /> dcfcnci gcnerally the title to the Praperty against all claims and demands, subject ta any encumbrances of record.
<br /> 'i'HIS $ECURITY INSTRUMENT comhines uniform �ovenants for national ust and non-uniforrn covenants with limited
<br /> variations by jurisdiction to constitute a unifornt security instrument covering real property.
<br /> U�IIFQRM COVENANTS. Borrower and Lender cnvenant and agree as follows: •
<br /> 1. �'ar-ment of Frinripal and lnter�t; Prepayment and I.ate Charges. Borrower shall promptly pay when due the
<br /> principal of and incerest on the debt evidenced by the Note and any prepayment and Iate charges due under the Nnte.
<br /> z. �unds fnr Taxes and Ineurance. Subject to a�plicable law or to a K�ritten waiver by L,ender, $orrower shall pay to
<br /> Lcndcr on thc day monthly payments are due under the Note, until the Note is paid in full, a sum("Funds") for: (a)yearly taxes
<br /> and assessments which may a+tain priority cver this Security Instrument as a lien on the Property: (b)yearly leasehold paymentS
<br /> • vr grnund rents on thc•Praperty, if any: fc)yearly hazard or property insurance premiums: (d)ycarly flood insurancc premiums,
<br /> if any: (e) yearly rnartgage insurancc prcmiums, if any; and (fl any sums payable by Borrowcr tu I.en�er, in accordance with
<br /> the provisions of paragraph 8, in lieti of thc paymcnt of morcgage insurance premiums. These items are called "Escrow items."
<br /> L,ender may, at any time, collect and frold Funds in an amnunt nat to ex�cut the maximum arnount a Irnder for $ ftderally
<br /> rclatccl mortgagc Ioan may require far Barrower's tscrow account undcr the fcderal Real �statc Settlement Procedures Act of
<br /> I974 as amcndcd from time to time, 12 U.S.C. Scction 2601 et seq. ("RESPA"), unless another law that applies to the Funds
<br /> sets a leeser amount. If so, I.cnder rnay, at any time, collect and hald Funds in an anriount nat to excecd the Icsser amount.
<br /> Lcnd�r may cstimatc the amaunt of Funds duc on thc basis af�unent data and reasone6tc estimates of expcnditures af luturc
<br /> Escraw Itcros ar otherwise in accordan�c with applicable law.
<br /> 'fhe F�unds sl�all be held in an insti�ution who�e deposits are insured by a fedcrnl agcncy, instvumcntality, nr entiry
<br /> (includin� L.ender, if Lender is such an institutlon)ar in any Fcdcral Home C.oar Bank. Lcndcr shnll apply the Funds to pay the
<br /> Escrnw Item�. L,tncler may not charge Bnrrpwer for holding a�d applying the Funds, annuAlly analyzing the escmw account, nr
<br /> verifying the Escrow Items, unless I.endet pays Barrower interest on the Funds and npplicahle law permits Lender to make such
<br /> a chargc. However, Lender may rcquire florrowcr to pay a nnc-timc charse for an independcnt regl estate tAx repotting servirc
<br /> used by L.ender in connectinn wi�h this Inan, unless applicable law provides otherwis�. Unless an agreement is made or
<br /> appticable law requires ineeresc to be paid, Lender shull not be required to pay Borrower any interest nr earnings on the Funds.
<br /> Bnrrower ar,d L.cnder may agree in writing, however, that interest sh�ll be paid on the Funds. Lcnder shall give to Borrpwcr,
<br /> withvut charge, an annual accountir.� �f the Funds, showing credits and debits to the Funds and thc pur�se for whi�h ench
<br /> debit tn the Furxfs was made. The�und�arc plcdged us additional security for all sums secure�by this Security Instrument.
<br /> If thc Funds hcld by L.endcr ex::ccd the amc�unts permittcd to be hcld by applicable law, l.ender shall uecount to t3orrower
<br /> for the cx�css Funds in accordance with thc reyuirements pf applicable IAw. IC thc nrtxaunt of the �undv held by Lencter At nny
<br /> timc is not�ufFcient to pay thc Egcrow Itcros when Jue, I.ender may so notify $ormwer in writing, und, in such rase Borrower
<br /> shall pay to Lcnder thc amaunt nccessury tn makc up thc deficicncy. Borrowcr shall ntake up thc deficieney in no morc than
<br /> twclvc manthly payments, at L.cndcr's solc discrction.
<br /> Upm paymcnt in full nf all sums sccured by this Sccuriry in�trument, I.tncicr shall promptly rcfund to �rmwer any
<br /> Fund� hcld by I.endcr. If, uncicr pArugraph 21, [.cndcr�hatl acyulrc ar scll thc Property, Lendcr, prior to the scquisitinn or salc
<br /> vf ihc Property, shall Apply nny Funds hcld by Lcrxlcr at the time of acquiaition ar sale as a credit againat the auma sceurcci by
<br /> thi!�5ccuriry instrument.
<br /> 3. .1pplicAtlnn af f'ayment�. Unlesa pp�licuble Inw pravides athcrwiu, nll payments reeeived by Lencicr uncler purngraph�
<br /> t anci ? shall t�c�ppl'scd: first, tn any prcpaymtnt chnrgcs due under the Notc; scconJ, to amounts Naysblc undcr paragraph 2;
<br /> third, tn intcres�due; fourth, to principal duc: and Inst, to any late chargu duc uncicr thc Note,
<br /> 4. CMar�cw; I.lens. E3c�rrower shall pay all tnxc�, as_cessments, chargcs, fincs and impo+itions nttributublc to thc Prnprrty
<br /> which may anain priority nver this Sccuriry Instrument, and leaschold puyments or graund rents, if any. Bc�rmwer sh�ll pay
<br /> thcse obli$Ation+ in the manner providcd fn paragraph 2, or if not paid in that manner, Horrower shall pay thcm pn Hme dlreetly
<br /> w the per�<�n crwcd pnyment. E3arrawcr shall prnmptly furniah ta Lcnder all notices oP emaunt�to bc paid under thl� pnragraph,
<br /> If Borrawer mekcs the��payment�dlrectly, Eiorrower ahall promptly fumi�h to I..cnder reccipt�evldencing thc payment+.
<br /> Llnrrower Rhell promptly di�chUrge eny 1(en whlch h�.�priarity over thls Sccurity In+trurtxnt unlcsr Bnrrr�wcr: (a)agrcc+ in
<br /> writing t�>the paymrnt of thc nhligntinn Rccurcd by the lien In a mnnner acaptable to [,ender: (b)contcxt, in gi�caci Calth the licn
<br /> hy, nr defcn�la a�+.�iin�t cnf��rcemcnt of thc ticn in, Ic�,ul procecding� which in thr I.cndcr'r opinion operauc ro prrvnnt the
<br /> enfnrccmcnt <�f thr, lien; c�r (c) �ecurr� trnm Iht hnldcr oC lhc lirn an ngrecmr.nt antl�facfury to L.rnder.ruborcllnuting thc licn to
<br /> thi� Srcuriry Inalnimcn�. (f l,cndcr drtrrmincr thnt iany part c�C tl�e Prnperry ir wubjrct t�� u lien whlch mny pttnln prii�rity ovrr
<br /> tlri.c Sr_�:urity Intitriarr�cnl, L.cn�lcr mr�y F�ive Florrowrr n n��lirc Idcntil"ylnK thc licn. Uurrowcr ahnll en�i»1'y thc Ifrn or tukc onc c�r
<br /> mnrc al'tl�r acticrnw act forth ritxwc wlthln 10 dpyn af 1he glvin�of n��ticc.
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