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<br /> ° 'P0C3ETHER WlTfi aU the improvem.ents now or hereafter erected on the property.end all casementa,appurtenances,su►d
<br /> Cutaua now or hem.atter a part of tha property.All replacements and addiflons shall elso be covared by this Securlty Instrumen� ..
<br /> All of the faregoing is referred to In this Seciutty Instsument as the"Propecty"
<br /> BORROWBR COVffiVANTS Wat Bomnwer is lawfuUy seised of tho esmte hereby convoyed and has the rlght w grant and
<br /> � convey the Aroperty aad that the Praperty i� uneneumbere�d, eae�epi for e.ncumbrances of record. Borrower warrants and wW "
<br /> . ° dcfend geuemlly the Htte to the Property against ali claLns and demands.subject to any encumbrnaces of record.
<br /> . . ' THIS SECiJR1TY INSTRIJIV�N'T cambiaes unifom�covcnents far nnflonal use and non-uaifom� covenants witb Wnited ,
<br /> ., . .. variadons by jnrisdicdon to coacdtute a unifom►securiry iastrwnent covesing real property. ,
<br /> , - .; UMFOR.�1 COVBNANTS.Bonorvcr and L.ender coveAant aad agree a4 foAows:
<br /> � � 1.Payment at Prtndpa!and Interest;Prepayment aad Late C6arges. Horrower shall prompdy pay when duc tho
<br /> pdncipal of end interest on the deht evidence�by ihe Note and any prepayment and late charges due undcr the Note.
<br /> 2,F�nds tor Tnxes t►ad Insurnace. Sub�ect to applIcable law or w a wrttten waiver by Lender. Horrower shall pay eo , '
<br /> ., Leader on the day montlily payments are due undcr the Note.un�l the Note is paId in fuU�a sum("Funda")for.(a)yesirly taxes
<br /> " and a5sessments whlch may attatn priorlty oves thLv Scxurtty Insnvme,�t a�a Uen on tha Property;(b)yc�rly leasehold pmyments .
<br /> ° or ground rents on the Property.if�any;(c)ycarly ha�.erd or property lnsurenca premiums;(d)yeariy fiood insuranca prcmiuma,if
<br /> � : any;(o) ycarly mortgagc inswnnca premiums. if any;and(��ny sums puyablc by Bonuwcr ta l.cndcr. In nccords�nca with tho
<br /> ' provlsions of paragraph 8, !n tteu of tho puyment ot mortgego insuranc� premiuma.TYteso iteme oro cullod "Bscrow items." ,,
<br /> ,. Lender cn�y,at any timo�collect and hold Furtds in un amount not to oxca��ho mnximum amount u lender for a[ederuUy rolated � •,.
<br /> °.. � mortgagcs loan may�uiro for Borrowa's cscrow account under the federal Real Bstate Seulement Proccdures Act of 1974 av ' ���-
<br /> '� emended from dme te dmo,12 U.S.C.Secdon ?.b01 et seq. ("RBSPA"),unless enothcr I�w that appUes w tho Funds ixta a lcsscr •
<br />, •• amounG If sa.I.ender may,at any tima.collect end hold Funcls in en a�nount not to exceed the lesser emo�ut�. Lendet may
<br /> , ' cst�mate the amount of Funds due on the basls of current data and reasonable es�mates of eapendiwres of fupue Bscrow Itema or �� _.
<br /> otherwlse in accordance with eppllcable law. �. . .
<br /> � The Funds shall be held in an lasdtudon whose deposits are lnsured by a federel agency.instnunentafiry�or entity(inclttding ..�-_ �
<br /> , . Lende�, if Lender is such an iasdtudon)or ia any Federal Home Loan Bank.Lender shall epply the Funds to pay tke Escmw „ • �S'.
<br /> " Iterna.Lender ma not char e Borrower for holdfn and a 1 �n the Funds.annuaU anal zin the esaow account,or v L� ���,
<br /> Y 8 8 PPYB Y Y 8 �l' 8 �,�'
<br /> ' " �� , the Bscrow Items.unless Lender pays Borrower interest on the Funds and applicable law permits L�rtder to make such a cherge. �.
<br /> '�'�' _;-.
<br /> .. However.Lender may nequice Borrower w pay a ono-dme charge for an independent mal estate tax reporting sem+Ice used by •.
<br /> ° I.ender in conriecdon a+ith this loan,unless appUcable law provIdes othetwlse.Unless en ag�ement is made or applicabls law . , '-�:_�}
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<br /> reqwces interest�be paid.Lender shait not be requned to pay Bormwa any inte�ce,st or eamings on the Funds.Barrower and ` �"`
<br /> , I.ender may agrecs in writjng,hoaever.that interest shaU be paid on the F1u�ds.Lender shail give w Borrower.without charge.an :';1;.
<br /> � annual aocounang of the Funds,showing credits ead debita w tho Funds and the pnrpose for which each debit to the Funds was �',�;:
<br /> ,. " mado.ltie Funds am pledged as sddidona!securIry fo:all sums secured by this Secu�rlty InstrumenL •�.;;� :�� .
<br /> If the Fnnds h�ld by Lender exceed the amaunts permitt�d w be held by applleable law.Leader shall account ro Borrower for `'.;• . -��_
<br /> � „ the exoess Funds in accordauce with the mquirements of applicabls law.If the amount of the Funds held by Lender at eny dme is �� �:�•.� "` __
<br /> �, not s�icient to pay Wo Bscrow Items when due,Lender raay so notlfy Horrower in wrtting,and.in such case Bnrrower shall pay � � ;�'�'
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<br /> � � . W L,eAder ihe amouat neces.cary w make up the deficiency. Bo:rowes ahall make up the defidency in no more than hvelve ,�
<br /> a monthlY PaYments�at Lender's sole discreflan. ,;�, �
<br /> Upon payment in full of all suias socured by this Securily Inst�ument,I.ender shatl promptly refund to Borrower any Funds �•`�c.,� -m-
<br /> held by Leader.If.under paragrepb 21,Lender shnll acquire or seU the Property,I.ender,pilor w the acquisition or sale of the �°--
<br /> � ��.�r Prope�ty, shall apply any Funds hold by Lender at tha time of acquisidon or sale as a credit ageinst the stuns secured by this ��
<br /> � .,. Securlry Enstniment �::' �-y
<br /> ;.�: ., 3.AppIIcatiun ot Paymenta. Unless applicable law provides otheiwlse.all payments received by Lender under puragraphs ,. � � _
<br /> 1 and 2 shall be appIIed fust,to anY prepayment cherges due under the Noie;second,w acnouats payabie uuder paragraph 2: ';.'��`,y�-. � = —--
<br /> ' � :�: ._, fhlyd to interest due�foucth.to principal due:and last,w any late charges due under the Note. ' u
<br /> �� 4.Claargest Liens, Bonower shall pay all t�es,assessments. charges.tines and impositions attrlbutable to the Property ��' -
<br /> wiuch may atlain prIorIty over this Securlty Instrument,and leasel►old payments or gcound rents.ff eny.Borrower shall pay these " °}�__,
<br /> ,: �,, obllgedona in the manner pmvided in paragrapb 2,or If not paid in that marmer.Borrower shall pay them on time direcdy to the , •{,':=�µ
<br /> .° _ . �-.::, � persun owed payment Bonower shaii prompdy fnrnish to Lender ati notices of amounts w be paid under thia par�graph.If ` - -°
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<br /> _ ` Borrower makes these payments diresdy,Bomawer shall prompdy fumish to Lender receipts evidenctng the payments. �-,.�
<br /> . ` " Homower shall pmmptly discharge any lien which has priority over this Security InsOrument untess Horrower. (a)agrces in ° " �
<br /> . � writing bo the payment of the obligation secus�ed by We lien in a mannex ecceptable W Lender.(b}contests In good faith the llen � .: .t
<br />- � , by. or defends against enforcement of the licn in, logal proceedings Nhich in the I.ender's opinion operate to pmvent the .. .,
<br /> , enforcement of tha 1ien;or(c)se�ures from the holder of the llen an agree�nent sadsfacwry to Lender subordinatinng the flen w �
<br />- this Secnriry Instrument If Lender determines that eny part of the Propertyr ia subject to a lien which may atmin priorIty over N�S „
<br /> " Securlty Instrument,I,ender may give Borrower a noflce identifying the llen.Borrower shall satisfy the lie�►or talce one or more
<br /> . of the actlons set forth above wlthin 10 days of the glving of nodce. ,
<br /> „ • Fo�m SoZB 9/eo -
<br /> �. �j •BR(NE�(02ta) Pag�t ot 9 �n�twr..—- - -
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