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<br /> ... TOGETHER W1TH all the improvements aow or dereaRer ere�ed on the property.and all easements.aPP�rtenances.and
<br /> w fixtures now or hereafter a part of the property. All reptacements and additions shall atso be covered by this Stcurity `•' �� `� '
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<br /> : � � .� s,,`,° Iastrument.All of the foregoing is r�ferred to in this Security Instrurnent as tE�e"Property." � j ,� .',, t:��:`:�.��
<br /> .' � BORROWER COVENANTS that Sormwer is lawfully seised of the estate hereby conveyed and has the right to grant and� , � ;, '. �,.�uM.
<br /> , . � convey the Property and that the Propetay is unencumbeted. eacept for encumbtances of record. Borrower warrants and wili ' ' 1 : :':.. -, -
<br /> � �.,:�-�.``. defend generalty the titte to the Properry against all claims and demands,subject to any encvmbrances of record. ,
<br />: ,_ _ .�--�;r.'"`": -: THIS gF.Ci1RITY INS1TiUMENf combines uniform cavenanu for national use and non-uniform rnveaants with limited� � �
<br /> �` '= variations by jurisdiction to coasdtate a uniform security instrument covering rea!property. � -- - - . ,�
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<br /> ° � � � UMFORM COVENANTS.Borrower and L.eader covenant and agree as follows: � .
<br /> . . , .-:;.; 1. Payment of Prindpal and Inter�si: FcePayment and Late Cbaiges. Borrower shall promptly PaY when due t6e� � `. ��.
<br /> principal of and interest on tiie debt evidenced by the Note and any prepayment and tate c h a rg�s d ue u n der t h e Note. � .�
<br /> - 2.Fnnds for Tax�aud IaSarance. Subject to applica6le law or to a written waiver by Lender,Borrower shalt pay W ' � .
<br /> ` '` ' ' L�eader on tiie day mor�tWy payments are due under the Note.until the Note is paid in fuJl,a sum("Funds")for.(a)yearly ta�ces � `� : �r
<br /> • . - - and assessments wirich may aitain priority over this Security Instnunent as a lien oa the Property;(b)Yearly leasehold payments •..;�,_' �._--_
<br /> :��,�,< n�. �. or ground rents on the Property.if anY;(c)Yearly hazard os praperty insurance premiums:(d)Year1Y fiood insurance premiums, r;`�nf „�- .
<br /> '�.4 .:;" if a�r:(e)Yearty mortgage insurance premiums.if any:and (�any sums payable by Borrower to Lender,in acc.ordance with -
<br /> . . _'� ,�::�` the provisions of patagzaph 8,in lieu of the payoaent of mortgage insurance premiums.These items are c�fle�"Escrow Items." �,' » :v
<br /> ' � . I.eader may, at any time. colted and hold Fund4 in an amount not to exceed the maximum amount a tendes for a fedeially � `� '•� `°
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<br /> • � - reiated mortgage loan may require for Boaower's escrow account under the federal Real Estate Seulement Procedures Act of ; , -
<br /> � • - _ 1974 as,amended from tune w time, 12 U.S.C. 5ec,tiion 2601 et seq.("RESPA"),unless anothes law that applies to the l�unds � .�:'•`�s=:;::—
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<br /> ' ' seis a lesser amoun�If so. Lender may. at any time, collect and hald Funds in an amount not to exceed the tesser amannt. ---�``' _
<br /> __ �.. � . I.ender may estimate the amonnt of Funds due an the basis af current data and reasonabte estimaxes of expenditures of future _*�:::_
<br /> ----'..---. - ';. Fscrow Items or otheTwise in acwrdance with appiicable taw. --.-__
<br /> ~ The Funds shap be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity � =
<br /> � ��'f (inciuding L.ender.if Lender is such an institudon)or in any Federal Home Loan Bank.Lender shall apply the Funds to pay the '�-
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<br /> .� '`'` �' - Escrow Items.Lender may not charge Borrower for holding and applying the Funds,annaally analyzing the escrow acooun�or __ _
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<br /> �` ..:'-- --'_ ' verifying the Esccow ltems.nntess I.ender pays Borrower iaterest on the Fuads and applicable!aw pern»ts l.ender to make such •�-.�"? ��,
<br /> r�.. � .' a charge.However, Lender may require Boaower to pay a one-time charge for an independent real estate tax re�orting service : � -.__
<br />- - r ��`. �` used by Lender in connection with this loan, unless applicabte law provides otherwise. Unless an agreement is made or ��.
<br /> ' - applicable la�v requires interest to be paId,l.ender shall noi be require�to pay Borrower any interest or eamings on the Femds. --
<br /> :�y.:: ' ;..?';t_.:. � � Borrower and Lender may agree in writing.how�wer.that inserest shall be paid on the Fands. Lender sGall give to Borrower, • :.�,.%�:,';°:�v-
<br /> `"� •• ��::'�- � �` without charge, an annua!accounting of the Funds, showing credits and debiu to the Funds and the purpose for which each ____
<br /> . . � debit to the Funds was made.The Funds are pledged as addirional security for all sums secured by this Security Instrument. � •�i=�
<br /> _' _.__ - If the Funds held by L.ender eaceed the amounts permitted to be held by applicabte law.Lender shall account to Borrower ' ��
<br /> � - for the excess Funds in accordance with the requiremenu of appticable law. If the amflnnt of the Funds hetd by I.ender at any -;,-�
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