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<br /> . • TpGEfHER W1TH all the improvemeuts now or hereafter erected on the property.and all easements.apPurtenances.and _. �.�..' ,. . � ` .,
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<br /> "; � fixmres naw or he�eafter a part of the pmperty. AIl replasements and additions shall also be cavered by this Securiry I....`. .'�_�< <::, .�:
<br /> � ° �`` InsuumenL AII of the foregoirtg is referred to in this Security Instrument as the"Prapeity.• (� E ;` 6`:` . .
<br /> ` � � ` BORROWER COVENAD3TS that Borrower is lawfully seised of thz estate hereby conveyed and has the right to grant and� ��;
<br /> � " , `' . camey the Property and that the Property is unena�mbered.eaccept for encumbrances of record. Sorrower warrants and wiA � ' - .`� �t :
<br /> -�-�-�`� defend genecalty the title to the Property against all ctaims and demands,subjert to any encumbrances of record. ja� ` ;: : ,
<br /> ` - '��gECUR�1'y INS'PRUMENT oombines unifoml oovenants for national use and norruniform covenants with limited@ x . , i' _
<br /> _ - variations b y jarisdiction to oonsdtute a wuform security inswment oovering real propert}+• �' ,
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<br /> , ,� LTMgQRM COVENANTS.Borrower and I.ender coveuaut and agree as fo l lows:
<br /> � `• � 1. Pgymeat of P�inctpal aad Int�t; Prepayment and Late Charges. Borrower shall pmmptlY Pay when�ae th ,
<br /> � �. .: - principal of and interest on the debt evidenced by the l�iate and anY P�Yment and late cbarges due under the Note. _'``, � _ _ _
<br /> . . • � 2. Faads for Taxes atnd Busarance.Sabject to applicable law or to a writtea waiver by I.e n d e r.Borrower s h a l l pay t o ' V��`�`
<br /> . � `" r`.��t Lender on the day monthly payments are due under the Note.until the Note is paid in fuil.a sum("Funds")for.(a)y e a r ly taxes ;�.:� ..`.l'. ;;�,��.'--•
<br /> . "��. and assessments which may attain priority overdus Seauity lasavment'as a lien on the Praperty:N)Year1Y leasehold paymenu ( : ': .. ":•�-i:
<br /> . ., _ or ground rents on the Property.if anY;(c)Year1Y ha7ard or property insarance premiums;(d)Year1Y fload insuranc�preminms, � : � •�` '_-
<br /> , . , if any:(e)Year�Y mort8age insurance premiums.if any:and(�a�►Y sum�PaYable by Borcower w Leader.in accordauce wit6 : � ----
<br /> ` - �L' the provisioas af pa�graph 8.in lieu of the payment of mortgage insurance premiums•'I'hese items aie called"Escr°w Items." ;�; : �:^
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<br /> "����°% l.ender may,at any time, collect and hold Funds in an amonnt not to exceed the maximum amount a tender for a federaliy i.�••::��'�.r�:
<br /> -� �' . � related mortgage loan may require for Borrower's escrow account ru�der the federal Real Estate Seulement Procedares Act of ; '
<br /> - • '�,°! 1974 as amended fcom time to rime. 12 U.S.C.Section 2601 ei seq. ('RFSPA"},unless another law t6at applies to the Funds
<br /> _ _' . � ::�,;.. sets a lesser araount. If so, Lender may, at any time, collect and hold Funds in an amount not to exceed the lesser amoant. �.' r , ;.:��
<br /> �. -- Lender may escimate the amotfnt af Funds due on the basis of current data and reasonabte esdmates of expenditures of fnNre _ _.
<br /> '. _ Escrow Items or oiherwise in accordance with applicable law. . ___ _
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<br /> � � ., : � S The�Funds shall 6e held in an insritution whose deposits are insured by a federal agency, insm�mentality. or enaty ; � _ __
<br /> "', :.,''',.� • (including Lender,if Lender is such ar►institution)or in any Federal Hame Loan Bank.Lender s6a11 apply the Funds to pay the •__.. �
<br /> . � -�• Escrow Items.Lender may not charge Borrower for holding and applying the Funds,annually analyzirtg the escrow aocount,or ;�;�.,-�.-�
<br /> ` verifying ttte Fscrow Items,unless L.ender pays Borrowex interest on ihe F�nds and applicable law perauts L�ender to make such . �� !'�
<br /> �-' � � - a charge. However, L.ender may reuuire�rrower to pay a afle-time chargc for an indepeadent real estate tax seporting service -���._
<br /> . ..r � . ,!..:,� used by Lender in coimectian with th�s loaa. unless applicabie law provides otherwise. Unl�ss an agreement is made or ��.:
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<br /> , appGcable law requires icnec�t to be.paid.Lendec sball not be require.d w pay Borruwer any interzst or eamings on the Funds. ,� _rt
<br /> � Borrower and Lender may ar}ee in writing.however.that iacerest shall be paid an the Funds.Lender shall give to Borrower, ,
<br /> . without charge.an annuat accounung of the Fun d s.s howing credits and debits to the Funds and the pnrpose for wtuch each ��'',�, .��—:_
<br /> � �- . debit to We Funds was made.The Funds are pledged as a d dido n a l security for a l!sums secu r e d b y t h i s S e c u r i ty I n s t n i m e n� : '-�;�•
<br /> � . � If the F�nds held by Lesider excesd the amounts persnitted w be held by applicable law,Lender shall account to Boaower tF
<br /> � for the excess Funds in accordance with the requirements of applicable law. If the amount of the Funds held try Lender at any ^'"�
<br /> � � � ,.'� wne is not svfficient to pay the Fscrow Items when due.Leader may so notify Borrower in writing.and.in such c�se Borrower _ -�"``�__
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<br /> � � shall pay to i.ender the amount necessary to make up the deficieacy. Borrower shall make up the deficiency in no mare than „ . •:" -.�_
<br /> . � ' taretve monthly paymenu,at l.ender s sale discredon. • ;� . �:�-�
<br /> � • • UQon payment in full of all sums secured by this Securiry Inmument. Lender shall prompdy refund to $orrower any ''x:�::� ��----�
<br /> :j.. ' . , Funds held by ixnder.If.under paragraph 21.I.eader shall acquire or sell the Property.Lender,prior to the acquisirion or sale . -�----.- _
<br /> • . ' .. of the Property,shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by �'-�-''- �6�
<br /> � this Securiry Instrument. � . f�-
<br /> ; ,:•� 3.Appticatifln of Payments.Unless applicable law proviQes Etherwise.all payrnents received by Lender under paragraphs
<br /> • '",r.;" 1 and 2 shati be applied:first,ta any prepayment charges due under the Note: second,to amounts payable under pazagr�[a 2: ,�..__
<br /> � ` ` •fourth to rinci due:and last.to an Iate c harges due un der t he Note. � ' _
<br /> . third,to mtrrest due. . p pa1 Y _ �;
<br /> � .. 4.Chaiges; Ltens.Boaower shall Qay�ll taxes.assessmcnts.charges.fines and impositions attributable to the Property -__- _ -_
<br /> ` � : ;: which may attain priority over this Security lnstrument. and leasehold payments or ground rents. if any. Bonower shall pay , - . :
<br /> -�.,: � thesc abligations in the manner provided in paragraph 2.or if nat paid in that manner.Bonower shall pay them on time directly .�.•�
<br /> . ' � - • to the person owed payment.Borrawer shall promptly fumish to Lcnder all�otices of amount�to be pai d un der t his Qaragrap h.
<br /> - • If$orrower makes these payments directly,Borrower shall prompdy fumish to Lender rereipts evidencing the payments. . � ";"�
<br /> -,:,�; ' Borrower shall promptly discharge any lien which has priority over this Security lnstrument unless Borrower:(a)agrees in . � °,� • � '
<br /> . � ' `: wrian g to thc pa yment of ehe obligation secured by the lien in a manner acceptab!�to Lender;(b)contests in gaod faith the lien . �
<br /> '. � � by, or defends against enforcement of the lien in. legal proceedings which in the Lender's opinion operate to prevent t he
<br /> � . enforcement of the lien;or(c)secures from the holder of the►ien�.�agreer.ient satisfactory to Lender subordinating the lien to : � ..
<br /> `� ' ' this Securiry Ynstrument.If Lender determines that any part of the Property is subject to a lier�which may attain prioriry over � • .-
<br /> � this Securiry Instrument. Lender may give Borrower a notire identifying the lien. Borrower shall satisfy the lien or take one or '. • •
<br /> ' . , � more of the actions set forth above within]0 days of the giving of notice. ' '
<br /> • Form 3028 9/9�
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