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<br /> _ ' TOCrETHEK'W[TH all the improvemeai.s aow or hereafter erected oa the 1uoPertf'•and all��ents.appwtenances.and i C•. � : ..�^'`
<br /> ,. • .. . �'` fixtarex naw or hereafter a part oF the property. All replacements and addi6ons shall also be oovered by this Security •= ,f <<; ,� ::�..
<br /> ` L,r..` . Insuument.All of the foregoing is cefemed to in this Security Inst�uineut as the"Property" • '... ` ' �.
<br />- � - `. '� SORROWER COVENANTS that Borrower is lawfWly seised of the estate hereby rnnveyed and has the right to grant and .>:���. `',:;�.�. .
<br /> . convey the Praperty and t1�at the Property is unencumbered.except far encumbra�ices of record. Borrower warrannts and arill ,�;'�''u';
<br /> �� ' . : _ defend generaDy the tttte to the Property against all claiubs and demands.sabject to any enwmbrances of secord. ` ��,;..'.,,,�
<br /> - ` " ,.:`�" THIS 3ECURITY IIVSTRUMENT combines uniform cavenants for nationaf nse and non-uniform covenanu with limited .,,� _:�° ;
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<br /> . '`;'�.r.---°:: v a r iations b y jurisdiction to constitute a uniform securiry instrument covering real property. : .� 'e.
<br /> ''` UAIIFURM COVENANTS.Borrower and Lender rnvenant and agree as fopows: "' � �.
<br /> - v.:_x -
<br /> ` ent and Late Charges. Bonower shail promP�1Y PaY when due the ,- `-r°
<br /> 1. Payment of Fiincipal and [nte►�st; PrePa3'�
<br /> •c�.�. principal of and inurest on the debt evidenced by the Note and any prepayment and late charges due under the Note. ,�_��� y
<br /> ._ • Z,Fpnds for Taxes and���n�'p-Subject eo applicable law or to a written waiver by I.ender.Borrower shall pay to ,�~
<br /> - . ,`' LeTtder on the day monthly payments are due undet the Piote.until the Note is paid in fuU.a sum("Funds")for.(a)yearly taxes :�,. _
<br /> `.. and assessmenu which may attain priority over dris Secvrity Instrument as a 6en on tiie Property;(b)Year1Y leaschotd paymenis .. __-_-
<br /> . or ground rents on she Property.if any:(c)Year1Y har�rd or pmperty insuraace preuuoms:(d)Year1Y flaod inswance premiums. . `. 4 . ..
<br /> ,�. .
<br /> � `. • if any:(e)Y�ar1Y mortgage insuranoe premiums.if any:and(�anY sums Payable by Borrower to Lender. in axordance with �:;,:--�--.
<br />� . � .:.�4, the pravisions of pazagraph S.in lieu of the payment of raortgage insurance premiu�.These items atc called"Esc�row Items." �f'„': '?�..,:
<br />= L�ensler may, at any vme.cotlect and hold Funds in an amount not to exceed the maximum amount a lender for a federally �`,.•_S',�.''----
<br /> ' '` `` teiated mortgage loan may require for Borrower s escrow account under the federal Real Estate Seitlement Procedures Act of °� -::r_
<br /> ` � 1974 as amended ftom time to time. 12 II.S.C.Sectian 2601 et seg.("ItFSPA"),unless another law that appties w the Funds ;„�}:,�
<br />.�;,, -- ;: sets a lesser amount• If so. I.ender may.at any time.coflect and hotd Funds in an amount not to excexd the lesser amoun�
<br /> ' ',��' Lender may estimate the amount of Funds due on the basis of curreat data and reasonable estimates of expenditures of fatiu� _
<br /> Fscrow Items or otherwise in accordance with applicabfe law. :.-:::':�
<br /> ` -- - The Funds shall be held in an insdtution whose deposits ane iasured by a federal agencY. instrumentality, or eatity .�. .
<br /> z..,,` ' . � . (including Lender,if Lender is suc6 an insdtution)or in any Federal Home Loan Bank.I.ender shail apply tlse Funds to pay the , _ _—
<br /> � Escrow Items.Lender may not charge Borrower far holding and applying the Funds,annuaily analyzing the escrow account,oi •%�,� �` _
<br /> ° rf•`., verifying the Escrow Items,unless Lender pays Borrower interest on ttie Funds and applicable Eaw permits L en der to�n a ke sz�b .;: ',`��=
<br />-- • ; , a charge.However.Lendec may require Boreower to Qay a on�dme charge for an independent real estate tax repotting service �._;,��r __,. __
<br /> , � ased by Lender in coruiectian with this loan. unless applicable law provides v�erwise. Unless an agreement is made or __._
<br /> • • • � applicable law requires interest to be paid.Lender shall not be required to paY Borr�wer any interest or eamings on the Funds. � _ �
<br /> ' • .• '°� $orrower and Lender may agree in writing, however.that interest st�all be paid on the Funds. Lender shall give to Borrower. , _
<br /> '� without charge, an annual accounting of the Funds,showing credits and debits to the Funds and the purpose for wtdc h ea�e h .��.`.�_
<br /> � - -���` debit to the Funds was made.The Funds are pledged as additiona!seaerity for all sums secured by this Security Insuument. _ _�_ ___.
<br /> • ' • . � If the Funds held by Lender exceed the amounu permitted to be held by applicable law,Lender shall arcount to Boaower ,� y�_
<br /> • for the excess Funds io accordance with the requirements of apPlicable law. If the amount of the Funds heid by Lender at any • ;�
<br />� ���., • ' , time is not sofficient to pay the E�ccow•Icems when due. Leader may so noafy Borrower in writing.and.in such case Horrawer ,�„_,-.
<br /> _ ` ` � shall pay to Lender the amount necessary to make up the deficiency. Borrower sltall make up the deficiency in no more than —
<br /> � twelve monthly payments,at I.ender's sole discrerion. • �—
<br /> �. � tJpon payment in full of all sums secured fsy this Secvrity [nswment. Lender shall promptly refund to Borrowet any ,• aear�
<br /> � �'` '� Funds held by Lender.If,under paragraph 21.Lender shall acquire or sell the Pcoperty.I.ender,prior to the acqnisition or sale � . � :=�-.-
<br /> . of the Property. shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sutns secured by •. �- -�_
<br /> . this Sect►rity Instntment. ..� . , _..
<br /> ._..�._.�
<br /> � 3.Appllcation of Payments.Unless applicable law provides otherwise,all payments received by Lender under paragraphs �,�,,,,�,,a�_
<br /> � . � 1 and 2 shall be applied:first,to any prepayment charges due under the Note:second.to amounts payable under paragraph 2; _
<br />�'', . . third,to interest due:fourth,to principal due:and last,to any late charges due under the Note. 4
<br /> t � 4.Cha�ges;Liens.Borrower shasl pay all tanes,assessments,charges. fines and impositions attributable to the Property ; _
<br /> . :..s " which may attain priority over this Security ]nstrument. and leasehold paymenu or ground renu, i[any. Borrower shall pay i _ ��
<br /> F,: . , : these obligations in the manner provided in parngraph 2.or if not pai d in t hat manner.Borrower s h a l l p a y t h e m o n t i m e d i r e c t l y
<br />-'-�• . • � ro the person owed pay�r.�rt.Bonower shall promptly fumish to Lender al!notices of amounu to be paid under this paragraph. ��� .'
<br />'""'`��` ' � ' If Borrower makes these payments directly.Bormwer shall promptly fumish to l.ender receipts evidencing the payments. . ; _• . • ,
<br /> c:,.;• c '.
<br /> .. ' Borrower shail promptly discharge any lien which has priority over this Secusity Instrument onless Borrower: (a)agrees in . •
<br /> � ' writing to the payment of the ohligatie2 secured by the lien in a manner acceptable to l.ender:(b)contests in good faith ihe lien • '`' .
<br /> by. or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the � , ''� �
<br />,.�. • - enforcement of the lien:ar Ic)secures from the he[der af the lien an agreement satisfactory to Lender subordinating the lien to :�,
<br /> "' this Security Instrument. If Lender determines that zny part of the Property is subject to a licn whtch may attain priority over , .
<br /> •� . this Security lnstrument.Lender may give Horrnwer a natice identifying the lien. Borrower shall satisfy the lien or take one or .
<br /> • � more of the actians set forth above within 10 days of the giving of notice. . . ; •
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