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<br /> � � � TOGETHER WITH all the impTOVemeats now or heresfter erected oa the pmperty.and all easements.appurtenances.and �� �•°�� ' ..
<br /> � ` . .° ,. fixtures aow or hereafter � part of the property. All replacements and addidons shall also be caveced by this Security `� ` .
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<br /> � �• • - ° " Instrument.A{1 of the foregoing is referred to in tkis Securitv Instrument as the'Property.' � -
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<br /> ' --`•-l`` BORKOWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grartt and� ` . , ,. '�4:
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<br /> - - convey the Propecty and that the Propeny is une�iwrn6ered. except for encumbrances of rccord. Borrower warranu and will `�
<br /> . �=;= defend generatSy the titte w[he Property against all clairas and dema�ds.subjett so any erecumbrances of record. � - __ .'�
<br /> . THIS SECURITY I1V5TRUMENT combines uniform covenants for national use and nnn-uniform covenants with limited . ._�
<br /> ,. . , vari�tiom by jurisdiction to constitute a uniform securiry insm�ment covecing real property. , �
<br /> -.�',;: � -. UNIFORM COVENANTS.Borrower and Lender covenant and agree as follows: � .
<br />�,�.. � ': _ _ 1. [�aymeat af Priaripa!and Iuterest: Prepayntent uad l.ate C6aiges. Borrawer sha[I prompdy pay whe»due the
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<br /> <•� • ' principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. .
<br />{;_ t . ;; Z. Funds tor Texes and Insuresce.Siebject to appficable law or to a written waiver by Lender,Borrower shall pay to .-_
<br /> !�` ._ .: �; Lender on the day monthly paymenu are due under the Note,unti!the Ntoie is paid in full.a swn("Funds")for:ta)yeariy taxes �;�;�•_-
<br /> � � . .• `ti• and assessments which may attain prioriry over this Security Instniment as a lien on the Property:(b)yearly leasehold payments •
<br /> �.� '• '. .' . ,+'�; or ground rents on the Propeny, if any:(c)yearly hazard or property insurance pnmiums:(d)Yearly tlood insurance premiums, ' .
<br /> ' , , if any:(e)yearly morEgage insurance premiums,if any;and(�any sums payable by Borrower to Lender, in accardance with _
<br />�'� . , �, � ' � the provisions of paragraph 8,in lieu of the payment of mortgage insura[tce premiums.'Chese items are called"Escrow Items." ,. __
<br /> �<< . � '. . .' , _ Lender may. at any ame, collect and hold Funds in an amount not to exceed the maximum amouut a lender far a federaUy
<br /> -{.,- . , • relate�moRgage loan may reqaire for Borrower's escrow accaunt under the federai Real Estrite Seitlement Procedures Act of "��� _ __
<br /> _ `�•�,` 1974 as amended fr+om time to time. 12 U.S.C. Section 2601 et se�.("RESPA"?.unless another law that appties ta the Funds �`•sT�.,`� _-
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<br /> " • • • sets a lesser amount. If so. I.ender may. at any time, collect and hold Funds in an amount not to exceed the lesser amount. '�
<br />�,: � .�` .`� ��°• Lender may esrimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future ��'�--
<br /> �'_ � Escrow Items orotherwise inaccordancc with a licable law. � �' '�=`-
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<br /> � The Funds shall be held in an institution whose depasits are insured by a federal asency. instrumentality. or entity _
<br /> �` � � � "��`1 � (including Lender,if Lender is such an institution)or in aay Federal Home Loan Bank.L�nder shall apply the Funds to pay the '� �'"'£-''
<br /> ��,.� . _�' � , -
<br /> '�°''' Escrow Items.Lender ma not char e Borrower for holdin and a I in the Funds.annuall anal z�n the escrow accaunt,or -
<br /> �; ' Y S S PP Y g Y Y S -
<br /> ��� ��.� � .' � verifyiQg the Fscrow Items. unless I.ender pays Horrower interest on the Funds and applicable law permits Lender w make such . !_—.
<br /> a charge. How�ver.Lender may require Hoaowec to pay a one-time charge for an independent real estate tax reporting service
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<br /> �;::.. :- :. -.- . - us e d by L en der in conn e c tion wi t h t his lo a n, u n l e s s a p p l i c a b t e l a w p ro v i d e s o t h e n v i s e. U n l e s s s t n a g e e m e n t i s m a d e o r
<br /> ii;' :. '� applicable law requires interest to be paid,l.ender shall not be required to pay Borrower any interest or earnings on the Funds. •� ����''
<br />'? � . Borrower and Lender may agree in writing,however.that interest shall be paid on the Funds.Lerr.ier shall give to Borrower. � .
<br /> � '- � ' � �vithout charge.an annual accounqng of the Funds, showing credits and debits to the Funds and the putQose for which each � �_�
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<br /> � ' • • '�� `� � debit to the Funcfs was made.The Funds are pledged as additional security for all sums secured by this Seturity Instrument. :. =
<br /> ��;:• ��-•�-�-- •,-;--;���, If the Funds held by Lxnder exceed the amounts pertnitted to be held by applicable law. I.ender shall account to Bonower _ .r_-�
<br /> . • for the excess Funds in accordance with the requiremenu of applicable law. If the amount of the Funds hetd by Lender at any ----
<br /> : - � . ' time is not sufficient to pay the Escrow Items when due.Lender may so notify Borrower in wrifing.and.in such case Borrower � �=°
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<br /> �: i shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than , -
<br /> �" �• � � � � tw.;lve monthly payments,at Lender's sole discretion. �;_-
<br /> Upon payment in full of all sums secured by this Security Instrument, I.ender shall promptly refund to Borrower any .
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