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<br /> �. � TO(IETHBR WITH tli the improvaneat�now or he�e�Rer eractod on Iho propeny.uid all e�ncnu,�uAen�no�s��d
<br /> -- - - fiztuoa now or Merc�tNu a put of the prupeny. All rcplocemcntc tu�d addilfona cfwll �Iso ba coverod by thir Securlty
<br /> la�trumcnt. All of the farc�oiog is�cfcrtod to in thie Security Instrumcnt as thc'Pmperty.'
<br /> BORROWER COVBNANT5 that Borrc►wer fs lawfully seised of the catate hereby conveyod wid h�w the�Ight to grant and `
<br /> .,,6^;..� ��..,, convey the Propeny And�hat the Property is unencumlx:red. except far encumb�ances of record. Borrower wanant� �nd will
<br /> � '� " deknd QeiKrnlly�he title to the Propcny wg�inac�II claima and demar�d9, xubjoct to any encumbrancea of r000rcl.
<br /> `��' � �:��,.. THIS SBCURITY INSTRUMENT combines uniPorm covenanta for national ur,e and non-uniform cove�wnte wlth limitod
<br /> ` vuialians by judsdiction�o consliwte a uniform cocurity instrument covering real property. `
<br /> . :,. . � UNIFORM COVENANTS.Barrowcr and l.ender covenent and agree as follows:
<br /> � .��� • l. Payment ot Principal wnd lnteresl� Prepnyment and I.�te Clw�ea. Barrower shell promptly pay whcn due the
<br /> ���+.�_�.�:. � pdncipal af and intercst oa the debt evidenoed by the Note and any prcpayment and latc chargcc due un�lcr the Note.
<br /> —.�w,,�;,-�;;�„�y.,� 2. Ihmdo for Taxes and lnsurana. Subject to appiicable law or to a written waiver by l.ender, Borrower shall pay to
<br /> .a::��. 5_ ..:... �.
<br />_ __ _ _ . ��..,,.,.• i� '�, Lender on the day rtwnthly puyments arc due under the Nate.until the Note is paid in full,a sum('Funds")for:(a)yearly taucs R_
<br /> ,�;.,� ,;,:: �" and usessments which may attain prfority uver thla Security Instrument as a lien on the Property;(b)yearly leasehold payments _
<br /> . �.��-��'•;-'. ' or ground tents on the Property.if eny;(c)yea�ly hpzatd or propeRy insurancc prcmiums;(d)ycady flood insurance premjums. --- -
<br />��. _�a� .�. if any:(e)yearly martgagc insurance premiums.if any: and (�any sums payable by Borrowcr to L.cnder,in occordance with -.-
<br /> �� ���'�:�• � ; the pmvisions of paragraph 8, in lieu of the peyment of mortgage iosurnnce premiuma.These items are called"Escrow Items.`
<br /> � � i,ender may. at any time, collect and hold �unds in en amount not to exceed the maximum amount a lender for a faderally
<br /> -�- —"��W�' '° � �' rclatod martgAge Iwut may require for Borrower's escrow account undcr thc federal Real Estete Settl�menl Procedur+es Act of �
<br />_"�'� ���;t`' `• 1974 as amended Gnm�imc w�ime, 12 U.S.C. Sectian 2601 er seq. ('RESPA"), unless another 18w that applies ta the Funds
<br /> . �" ° "��'; sets a lesscr amount. If so, Lender may,at any time, collect and h�ld Funds in an amount nat to exceed the lesser amount. e--
<br /> • •�`"'''t � � Lendcr rnoy estimate the wnount of Funds due on the basis of cunent daw and rea�onablc estimates of expenditu�s of tY�turo ��
<br /> �� . Escrow ltems or otherwise in accotdance with applicable law. ��
<br /> �• „ ° '�."� 7'he Funds shall be held in an inatitation whose deposits are ins�red by a fcdcrul agenry, instrumentelity, or entity --
<br /> (including L.ender,if L.ender is such an institution)or in any Federal Home Loan Bank.l.endcr shall apply the Funds to pay the
<br /> •� •?� Escrow Itema. Lender may nat charge Borrower for holding and applying the Funds,annually analyaing the escrow account,or -`
<br /> �: . _.
<br /> „ , '. � verlfying the Escrow Items, unless Lender pays Borrower interest on the Funds and applicable lew pernuts L.ender to make such
<br /> ' a chuge. However, Lender may require Borrower to pay a one-time charge!'or an independent real estate tax reponing servfa _
<br /> .d�.„_...., a.: -
<br /> usod by Lender in com�ection with this loan. unless upplicable luw provides otherwise. Unless an agreement is made or =__
<br /> " `'` '` � Applicable law requires intcrest to be ps�id, l.endcr shall not be reyuirad to pey Borrowcr any interest or earnings on the Funds. _�_
<br /> _ ;t.�,.r '_ '�:_ Borrowcr and I.cndcr may agree in writing, howcver,that intcrest shall be paid on the Funds. Ler.der shall give to BoROwer. ['.;�
<br /> wlthout charge. an annuul accounting of the Funds, showing c�edits and debits to the Funds and the purpose for which euch �'
<br /> debit to the Funds wa�moda The Funds are pledged as udditional secur�ry for all sums secured by this Security Instrument.
<br /> • If tho Funds held by Lender exceed thc amnunts permitted to be held by applicable law, Lender shall ecrnunt to Borrower
<br /> '1j�t, ' �`- for 1he excess Funds in acrnrdunce with Ihe requirements of applicable law. If the amount of the Funds held by I.ender at any
<br /> ' � "� time is na suificient to pay the Escrow l�ems when due, I.ender may so notify Borrower ln wdting,and,in such case Borrower
<br /> , .,��' �M
<br /> . shall pay to Lender the amount necessary to mnke up the deficicncy. Borrower shall make up the defciency in no morc thon
<br /> • ��•'� twelve monthly payments,at I.ender's sole discretion.
<br /> • " Upon payment in full of all suMS serummcii by this Security Instn�ment. Lender shall promptly refund to Borrower any
<br /> � � Funds held by Lender. If,under paragraph 21, l.ender sholl acquirc or sell the Property, I.ender, prfor to the acquisition or sale --
<br /> ��u . � . of the Property, shall apply any Funds held by I.ender at the time of acquisitiun or sale as a credit ageinst the sums secured by �'-�-'
<br /> • ,;' "�• thie Security Instrument. `��:
<br /> � ��;�, ., • ° 3.Appflcation of Paymenls.Unlcss applicablc law provides othenvisc,all payments rcreivod by l.ender under parngrnphs
<br /> '� !and 2 shall be appiied: fi�st, to any prepnymem chnrges due under the Note; �erond, to amounts payuble under paragroph 2; �.a.
<br /> '�" '' '�a�i�,,; third,to interest due; fourth,to principal due;and last, to any late churges due under the Note.
<br /> i �. . �`-
<br /> � � 4. Clw�ges;l.iens. BoROwcr shall puy ull tnxes,assessments,chargcs, fines and impositions attributable to thc Property
<br /> " �.r ; � "a�� which me attain nori� over thi4 Securit Ins�rument, nnd Icasehold a mcnts�r round rents, if an Borrower shall a �M
<br /> a. � Y P � Y Y P Y 6 Y• PY ° -_.
<br /> " these obligations in thc manncr provided in poragruph 2,or if not puid in thut manner,Borrower shnll pAy them on time directly '�`;'_
<br /> � � . to the person owed paymcnt. Borrowc�shall pmmptly fumish�o Lender ull notices of wnounts to bc paid under this paragraph. ��`-°
<br /> � r- If Burrower makes thesc payments direc0y. Borrower shall promptly fumish to l.ender receipts evidencing the payments. ��•=-•-
<br /> • ".'u,":_� . , �3r Borrower shall promptly discharge ony licn which has priority over this Security Instn�mcnt unless Borrower: (a)agrc�s in
<br /> , ` wr�dng to Ihe payment of the obligation serunxi by the lien in a manner ucceptaMle w l.ender:(b)contests in good faith the lien �.,:1_.
<br /> . �A;�u by. or defends against enforcement of the lien in, legul proceodings which in the L.c�nier's opinion operate to prevent the `
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<br /> • enforcement of the lien;or(c)sa:urcs fn►m the holder of�he licn an �grcement wti�factory t��Lender subordinating the lien to
<br /> ' ' this Security Insrrumcnt. If Lender determincs thut uny pan of thc Pr��perty is subjut tu u licn which mny attain p�iurity over �
<br /> ; �,,,� this Security Instrument, Lendcr may givc &irrowcr a noticc identi(ying the lien.Bormwer shall sutisfy the lien or tuke one or �
<br /> , .more of the actions set furth abovc within 10 duys of the giving of nolicc. !
<br /> �.' Form 3028 �IYO
<br /> „ Pp�J al B 1
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<br /> , MC,901�-NE/2 �
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