|
't:�i
<br /> 'r!
<br /> 'i�=6 .
<br /> �.'�'
<br /> _:=.�
<br /> � �5_, 1���'7'.7
<br /> TOGETHFR VVfi'H all the improvements now or hereafter erected on thP property, and ali easements,apFurten.�nces,
<br /> �.� ��d firt�.�res now or herrafter a part of the pmFerty. Ali replacements and additions shall aiso be covcred by this Security
<br /> •Y': ?nstrument. A'1 of thc foregoing i�referred to in this Security lnswment as the"Pro}xrty."
<br /> �� 30RRO�VcR COVE'VF.NTS th�;3onower is lawfulfy seised of the estate hereby conveyed and tias the right to grant
<br /> `�:� and c emev the F'ropnrty a�d that�he Property is unencumbered,except for encumbrances of record. Borrower warrants and
<br /> ;';Y� aili deiend generall}•tne title to tSze PropeiYy against afl claims aad demands.�ubjcct to any encumbracues of record.
<br /> T'HIS �FCURi'�'Y ;t1STRU"v1ENT combinPs uniform covenants fer national use and non-uniform covenants with
<br /> �,��� !ir-uteu variations by jurisdietion tr�coastitute a uniform securit}instnment co��ering real pro�erty.
<br /> �:�. UN1FC�t'v1 COVENANTS. Borrower and Ler,der covenant and agree as folfows:
<br /> ;� l. Pai�ment of Principal and Intecest; Prepayment and L�te Charg�s. Borrower shail prompfty pa��when due the
<br /> ; pnncipa]of and interest on the debt evidenced by tne Note and n�ry pregayment and ta[P charges due under the N�te.
<br /> �'� 2. Fi:f:ds for Taxes and Insurance. Subjeci to aoplicable law or ta a writt�n waiver by Lender,Borrower shall pay to
<br /> '�� f_ender on the day monthly payments are due �mcier tne Note, �ntil the Note is paid in full, a sum ("Funds") for. (a) yearly
<br /> T�.� .axes ar,d assessments�.vhich may attain priority ove.r this Security Instnnnent as a lien on the Property;(b)year'y leasehold
<br /> ,+,� paymcnts or ground mnts on Ihe Property, if 1ny: (c) yearly hazard o: property insurance premiums; (d) yearly flood
<br /> _,� in�urance premiums, if any; (el yearjy mortgage ir.surance premiums, if any; and (� any sums payable by Borrower to
<br /> T`- '_ender, in accerdance .�ith [he provisions of parag.-aph F, in lieu of the payment of mortgage insurance premiums. 'These
<br /> �;'� items are calleci "rscrow Items." Lender may,at any time,collect and hold Funds in an amoun:not to excee�the maximum
<br /> j� amc��nt a !en3er for a fed�rally related mortgage loan may requ;re for Borrower's escrow account under the federal Real
<br /> �'state Setdrment Procedures Act of 1S74 as amended irom time to time, 12 U.S.C. §2601 et seq. ("RESPA"),unless anothcr
<br /> "'� aw that applies Ya the Fundt setc a!esser amoant. If so,Lender rz:ay,at any time,callec[a��d hold Fands in an amount not to
<br /> _ f.� �xcecrj ?he lcsser amot�nt. Lender may e;timate thz znrount of Furds due on the basis of current �ata and reasonable
<br />�`�`�= estima,es ci ex;�endit�res of iutu*e Escrow Items or otherwise in accordance wich applicab'.e law.
<br /> "'�" ine Funds shall be h�ld in an ins[itution whose deposits are insured by a federa! agency, instrumentaliry, or e•.r.ity
<br /> iinciudin� Len�ier, if Lender is such an institution)or in any Federal Home 1_oan Bank. Lender shal! appiy the Fund.tc�pay
<br /> t',•� Esro�v I!ems. Lcr.der rr�ay not charg.e Borr��ver for ho!ding and applyisig the Funds, annually :inalyzing the es,crow
<br /> uccuurt, c�r verifying the Escro�v Item�. unless Lender pays Borrower interest un the Fucds and applicable law �crmits
<br /> '�? L.ender to mt�ke sucl; a charge. Howe��er, Lender may require Bo;-rower to ¢ay a one-time charge for an independesit real
<br /> ;:�� e�[.�,e tax reporting s;r,ice used by L.ender in connection with this loan,unless applicable law provides other�vise. Uniess an
<br /> `:_�� a�reemcnt is :nade or applic.able law requires interest?o be paid.Lender shall not t+e required to pay Bcrrower any in[erest o;
<br /> "¢'°' earnings�n:he Funds. I3orrower anci Lender,nay a�,ree in writing,howevcr,that interest sha�l be paic on the Funds. Leniler
<br />�rn.:' �hai! aive to Bonower, without charge, an annual accotsnting of the Funds,showing credits and debits to the Funds and the
<br /> }� pur;�ose for�tihich each debi!to the I-unas was riad�. :Fe Funcis a:e pledged as additional security for all sums secured by
<br /> tt�is Security Instn�meni.
<br /> �r:� if thc ru�tds ��eld by I_c°nder excced tE�e amount; permitied to be held by applicat�le law, Lender shall account to
<br /> -h.� Bo�ower fnr the exccss Funds in accordance with Lhe requirements of app:icable law. If the amount of the Fund� held bv
<br /> � Lender at any :ime ie not sufficient te pa�� ihe Eurow Items wh�n due, Lender ma; s� netify Borro�;�cr in wri!ing;, and, ir.
<br />`4=� such case I3orro���er ,hall pay to Lend�r the ama�lat necessary to make up the deficiency. Borrower shall make up the
<br /> �9;�� deficiercy in no more L?a��twelve monthly payments,at Lender's sole discretion.
<br /> ��`;� lioo�t pay�ment in ful! of all sums secured by lhis Securit5� Instr�ment, Lender shall promptly mfund to Borrow�r any
<br /> -�_ Fur.ds held by Lender. If, ur.der garagranh 21, i.end�r shall ac�uire or sell the Property, Lender, prior to the acquisition oP
<br /> s.ilc of die Property, shc�li apply any Fur.ds held by Lender at the time of acquisition or sale as a credit against rhe sums
<br /> '�� secured bv this Security Instrumeni.
<br /> J_� 3. �'�ppt:cstion �f Pa�ments. Unless appl±cab!e law Fr�;,vid.°s o[herwise, al! payments received by Lendcr under
<br /> f'`` pa:agraphs 1 and 2 shall be applied: first, to��iy prepayment c�zarges d!ie under the�`ote;second,to amounts payabie under
<br /> x`:
<br /> �' ,r,aragraph 2;third,to interest dne; (ourth,to principal duc;and last,t�any late charges�ue under the Note.
<br /> :_,.
<br /> b�;� �. C)iar�es; I,iens. �3orrower shall pay all taxes, :issessments, chargcs, fines a.id impo.itions attributab!c to thc
<br /> ��'°; -�_��y w!�;ch may attain p:�ority o�-er this Secur;t}• Instr�ment, and leasehotd payments or ground renu, if any. Bo�rower
<br /> .�;,:
<br /> ��� �;iia:i � !h2se obliga:ions in the manncr provided in uaragraph 2,or if not paici in diat manner, Borrower shall pery them on
<br /> � ' tim�c�ir�_ctly to thc person owed paym.:nL Borcower shall promptly fumish to Len:ler all notices of amounts ro be paid under
<br /> chis para:;ranli. If Borrawer makes these p�yments directly, Borrower sh�iii promptly fumish to Lender recei�ts eviden=ing
<br /> �`,�,� the paymeni;. �
<br /> 3crro�m-er shall promptly discharge any lien which has priority over this Security Instrument unless Borrower. (a)agr�es
<br /> �� ir, wri?inc�to the payment of the obligation secured by tne lien in a manner acceptabie to Lender;(b)contesis in gaod faith the
<br /> `'" lien by,or defends a�ninst enforcement of the lien in, iegal proceedings which in the L�nder's opint��operate ro prevent U�e
<br /> erfarcement of th:lien; or(c) secures from the holdzr ef the �ien an agreement satisfactory to Lender subordina[ir.�;the lie7
<br /> � to rhis Securit}• InstrumenL If Lender detern�ir.ec that any part of the Property is subject to a lien which may attain priorit}'
<br /> �� <n'er i}�is Security Instrument,Lender may give Borrawer a notice ideniifying the!ien. Bocrower shalt satisfy the lien or take
<br /> one or morc of[hr;actions�et forth ab�ve within 10 days of the giving of notice.
<br /> S. 3-4a�arri or Property Insurancc. Borro�r��er shall keep the improvemer.ts now existing or hereafter crected on thc
<br /> ?sop�rty insure<a againsi loss by fire, hazards included within the tenn "extended coverage" and any other hazards, including
<br /> fl�v�.:s or flc�o�ing, for which Lender requires insurance. This insura�ce shall be mainiained in the amounts and for t�e
<br /> Form.1028 9/90 (paRe 2 nf 6 pag,ss)
<br /> `�
<br /> �=:��
<br /> f�'; _ .
<br /> ::�.:�F4� .
<br /> X i�
<br /> YT
<br /> ��
<br /> ,xl,t
<br /> �.^��;
<br /> ���
<br /> �`~�a
<br /> �e.��f�
<br /> 4n;t�
<br /> �4F.
<br /> ::F�.
<br /> �.`.7�;
<br /> �.
<br /> '''���
<br /> ;Y;i,y
<br /> 'r
<br /> -tY.y a
<br /> ¢ ,
<br /> 4 r.T;�
<br /> '�� �
<br /> (��
<br />
|