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<br /> .:_��� 'COpETHER WITH el�the impravcments now or hercafter crected on the property.and�II eas�menls.appunenanccs,
<br /> and tixturc� now or hereafter a part of�he propertY• All replacements und Additiona xhall Also ba covered by tf►ir Securi�y
<br /> ,.� Insuument. All of tho foregoing is refzrred to in thia Securiry Instrument as the"Property."
<br /> �
<br /> ;� "� BORROWBR COVENANTS thAt Borrower ia lnwfully scised of the estptc hereby conveyed und has the right to grant
<br /> � " nnd convey the Property and that the Propecty is unencumbered,except for encumbruncea of record. Borrower warcams and
<br /> `_,,�'�_� .:._:_„ ! ���defend generall y Ihe dtle to the Pmpeny agAinsl all claims and dernands,subject to any encumbrances af«cord. r_
<br /> "�`' � THIS SECURITY INSTRUMENT combines uniform covenents far national use an d non-uni form c o v e�w n t�w i t h
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<br /> '=.;r;�.;,:. ', limited variadons by jurisdlction to c�natitute u uniform secu�ity insuument covering nal propeRy.
<br /> '-'��"�-�� �'' `"'�•'�',�� ; UNIFORM COVENANTS. Borrower and Lender covensuit and ngree as follows:
<br /> � -�„ "`` �' f'" Q P P Y when due�he
<br /> ' 1. Pwyment otPrlacipal and Intereat;Prepayment Aod Lote ChAr ea Horrower shall rom tl pay
<br /> —:.�.;:::-...; � ' pdncfpal of and lnterest on the debt evidenced by Ihe Note und any prepayment and late charges due under the Note.
<br /> �;�;>•�''",,�'`:; • 2. �uads for 7hxee aad Insurance. Subject to applicable law or to n written wniver by I.ender,Borrower shel!pay to
<br /> �!Y l�•'•�.
<br /> ""°��^+ �►�r Lender on the day monthly payments are due under tha Note.untll the Note is paid in full,a sum("Funds")for:(u)yeurly
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<br /> ; •� ..,;+��c. , taues and assessments which may attain priority over this Secu�fty Inswment as u lien on the Property:(b) y�'�eul�llaod
<br /> =�` �*'�^ payments or ground rents on the Praperty. if anY: (c) Year�Y haza�d or property insurnnce premiums; (d) y y
<br /> � �`�{' f+j-':+;' ' insurance premiums,if any; (e) yeorly mortgage inaurance premiuma, if su�y; nnd (� any sums payable by Borrower to
<br /> - "`'�"�'��� �:�i- Lender,in accordance wi�h the provisions of paragroph 8,in I�eu of the payment of mongage lnsuranee premiums. These
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<br /> ,��';. ,,,,a. �.. n• • items are cAlled"Escrow ltems." Londer muy.at nny tlme,collect and hold Funds in an amount not to exceed the maximum
<br /> .�;;�;4._`".a:�`�'�� "''�� amount a lender for a federally related mortgage loan ma.y requite for Borrower's escrow account under the fetterul Real
<br /> -- ---- .:=x--L;`•-:1=--�-`'��'�- Estate Seldement Pracedures Act of 1974 as amended from time to time,12 U.S.C.�2601 et seq.("RESPA"),unless unother
<br /> �'' `'' law tha[applles to the Funds sets a lesser amount. If so.Lender mey.at any time,collect and hold Funds in an amoum not to _.
<br /> �:�"°�. `° � exceed �he lesser s�mount. Lender may estimate the amount oi Funda due on the basis of cu�rent data und reasonabte
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<br /> ��� �, . ,;•;lr • esdmates otexpendiwres of future Escrow Items or otherwise in accordunce with applicable law.
<br /> ----�;�. , �:;,,:.;. � The Funds shall be held in an institulion whase deposils are insured by a federal agency, instrumentality, or entity �T
<br /> • • ,: ..- (including Lender, if Lender ia such an inRtflution)or in any Federnl Home Loan Bank. Lender shall apply Ihe Funds to pay
<br /> - �•��:�.: ` � the Escrow Items. I.ender may not charge Borrower for holding and applying the Funds.annually annlyxing �he escrow __
<br /> - �.� -.; ' ��, account,or verifying tha Escrow Items. unless Lender pays Barrower interest on the Funds und applicable Ipw permits -
<br /> • � ��� Lcnder to meke such a charge. However,Lender may requi►e Borrower to pay a one-lime charge for un independent real
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<br /> -4�' . estate tax reporting service used by i.ender in connection with this loan,unlesa applicabte law provides otherwise. n ess an --
<br /> -= • �� •''� agreement is made or appliGUble law requires interest to be paW,Lender shall not be required to pny Borrower any interest or _`_
<br /> -•�' ����i,�� earnings on�he Funds. Borrower and I.enckr may agree in wrlting,however,that interest sball be paid on the Fundv. Lender
<br /> �"� � � '' shall give to Borrower.without charge,an annual accounting of the Funds,showing credits and debits to the Funds ond the
<br /> ��'�'�'�'-"'_`�`'�'�� pu r p ose fat wl�ich eacls�bit to!ht�nds WAa mAde. 'fhe Funds are pledged as additional secudty for ell sums secured by
<br /> --"J� this 5ewrity Inswment. �=`
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<br /> _,.?Y,�, .• • � " If the Funds held by Lender exceed the umounts permitted to be held by appliceble law, Lender shull account ro ��
<br /> - i�+. Borrower for the excess Funds in accordance wi�h the requirements of appl[cable law. lf the amount of the Funds held by
<br /> --_��� � �,. . . .. .. ° Lender at any time is not sufficient to pay the Escrow Items when due,l.ender may sa notify Borrower in writing.and,in �+f ;'.
<br /> ='��y a�., ' ..�+ such case Borrower shall pay to Lender Ihe runount necessary to mnke up the deficiency. Borrower shall muke up the
<br /> . f� ... .. . �• daficiency in no morc than twelve monthly payments,at Lender's sole discretion. —
<br /> ' � Upon payment in full of nll sums secured by this Securiry Instrument.Lender shnll promptly refund to Borrower uny
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<br /> _ ;�„�.,... . _, ,�; _ Funds held by Lender. (f,under paragraph 21.Lender shall ncquire or sell the Property.Lender,prior to the acquisition ur
<br /> ,� r '�.�� sele of the Property,shall apply any Funds held by Lender a[ the time of ucquisition or sale as a credit ugainst the sums v
<br /> ` , ,,.. ,. ,� '"',����• secured by this Security Instrument.
<br /> �=i_ , � � 3. Applkatlon of Poyments. Unless applicuble Inw provides otherwise, all payments received by Lender under "`�,
<br /> � ��� � paragrnphs I and 2 shall be applied:first,to any prepayment charges due under the Note;second,to amounts payuble under
<br /> ` ` ''' ., , paragmph 2;third,ro interest due;fourth,to principal due;:uid Ivxt,to any lote charges due under Ihe Note. �'-
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<br />"��,:. ' - .• a 4. Charges;Liens. Borrower shall pay all taxes, agsessmcnts, charges, fines and impositions attribumble to thc �.
<br /> , "�,,,�,�,;,, , property which may attnin priority over this Securiry Instrument,nnd lensehold payments or ground rents. if any. Borrawer �_,_.,
<br />,��'�t' • �� shall pay these obligations in the manner provided in puragraph 2,or if not puid in that mnnner,Borrower shull pay them on _
<br />_?!t' ' �� :�e+.' time dircctly to Ihe person owed payment. Borrower shull promptly fumish to Lender all notices of amounts to be paid under ----
<br /> •� ��° ' this paragraph. If Barrower makes these payments directly.Borrower shall promptly fumish ta Lender receipts evidencing
<br /> . ., the payments.
<br /> Bonower shall promptly discharge any licn which has priority over this Security Inslrument uuless Borrower.(a)ngrees _L
<br />_ '!� °.;��•`�• " in writing to the puyment of the obligution secured by ihe lien in u manner acceptable to Lender;(b)contests in gaod faith the _
<br /> -� • ' . o� ;;; ' , lien by,or defends ugainst enforcement of the lien in.Iegal proceedings which in the Lender+opinion operntc to prevent the �_-
<br />'� ••�� : " :� enforcement of the lien;or(c)secures from the holder of the lien an agrecment sutisfactory la Lender subordinuting Ihe lien
<br /> � ��� to this Security Instrument. If Lender determines Ih�t any part of the Property ix subject to a lien which muy utlnin priority �
<br /> � ' ��g'�� � � over this Security Instrumenl.Lender muy give Borcower u nutice identifying the lien. Borrower sh�ll satisfy the lien or take
<br /> - � one or more of thc uctions set forth above within IO days of the giving of notice.
<br /> . � �, S. Haw�d or Property Insurance. Borrower shall keep�hc improvements now existing or here�fter ecected on the �
<br /> ' L�. � Properry insured ageinst loss hy fire,huzards included wi�hin the term"extcnded cover�ge"and uny other huzurds, including ,
<br /> floods or ttnodfng,for which Lender requires insurance. This in�urunce +hall lx muintaincd in the •rmounts and for the �
<br /> � . Form 302Ji 9/91 (�dr�oJn pugesl -
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