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<br />; 1'OGE'THER WITH a!I che�mpruve�nent�now or hereafter erected on the propert}+,and aEl easements, appurtenances.and ' �
<br /> . fizture� nau �u heresfter a pan uf the ptopeny. All replacemenu and additions sha11 also be covered by this Security j �,. '� }� '-
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<br /> ln.vtrument. All of the fureZ*,oin�i+rcfemxt ta in this Security Instrument as the"Froperty." ,t -
<br /> . , BORROWER CDVENANTS that Borrower is law•fully seised of the estate hereby conveyed and has the right to grant and ` '`�;";F'� .,�
<br /> cunvey [he Property and that the Property i.unencumbered, exrept for encumbrances of re�rord. Boreower warrants and wil! ,. :� . -
<br /> ` defend genernlly the title to the Prupeny again�t:�U rl:iim�:uid demands.�ubjuK to any encumbrances of record. .. ��
<br />` �,� THiS SECURITY INSTRUMENT comhines uniform covenants for nauvnal use and non-uniform covenants wi.h limited -
<br /> variatiun+hy juriaJictiun to ron,titace a unitorm secunry instrument covering real properry. s```�--- - -- _
<br />_.t� UNIF�RM COVENANTS.Borrower and l.ender covenant and agree as follows: '; ��I��',•-:
<br />- d. Payment of PHnclpal and Intetesi; Prepayment and Late Chaeges. Borrower shall prortsptly pay when due t�e �� . " -
<br /> ,—_•. __,_..._ ,:;.�.•-.
<br /> --- principal uf end interest on th�debt evidenced by the Note and any prepayment and late charges due under the Note. .. '
<br /> 2.Furttts for Tuxe.and Insurauee. Subject to applicable law or[o a wriuen wairer by Lender, Borrower shall pay ro �`� -
<br /> , Lender on the da monthl a ments are due wtder the Note.until the Note is d in full,a sum 1"Funds"3 for.(a) earl taues ` `�..���" �r����
<br /> Y Y P'Y P� Y Y . ,..�_?�=�'_
<br /> and assessments which mn} at[ain priority over this Security Instrument ati a lien an the Property;(b)yearly(easehakl payments � �_�„�y; �.
<br /> or grnund rents an the Propeny. if any:tc)ye:uly hazard or propQtty insurance premeums:id)yearty tlood insurance premiums. _ . ._. •-==;_`_-•�=`":
<br /> � • if any; (el yrarly mort�e insurance premiums. if any;and(f►any sums payable by Borrower to Lender, in accordan�with • '�--+ � � � • '
<br /> `�;`����
<br /> . the provisions of paragraph 8, in lieu of the payment of mortgage insurance premiums. These items aze calted "Escrow Items." _ - -
<br /> Lender may, at any time, cuilect and hold Funds in an amount not to ezceed the maximum amount a lender fot a federally �,��,,.,, �
<br /> � �t related mortgage loan may require for Borrower's escmw account under the federal Real Estate Settlement Procedures Act of ��:-ti�E;. .
<br /> - � 1974 as amendeii from time to time. 12 U.S.C. Section 2601 et seg. ("RESPA"), unless another law that applies to the Funds ;..•.? ' "
<br /> ` sees r fes.ser amount. if so, Lender may, at any time, coltect and hold Funds in an amount nat to exceed the lesser amount. �;.�''��' - �
<br /> ,:-
<br /> Lender may estimate the amouni of Funds due on the basis of current data and reasonable estimates of expenditures of future _ �i
<br />•� ' Escrow Items or othenvise in accordance with applica6le law. ;;r; �' _���,:
<br /> � � The Funds shall be held in an institution whnse deposiu are insured by a federal agency, instrumentality, or enaty �•�"`�
<br /> __.�.�.,'•..
<br /> (including Lender,it Lender is such an insutution)or in any Federal Home Loan Bank. Lender shall apply the Fnnds to pay the ,k„`�,_
<br />• .. Escrow ltems.Lender may not charge Borrower for holding and applying the Funds,annually analyzing the escrow account,or '_r- � . '''
<br /> verifying the Facrow Items,unless Lender pays Borrower interest on the Funds and appticable law permits Lender to make such �� �-=..:�.--
<br /> � a charge.However.Lender may require Borrower to pay a one-time charge for an independent real estate tax reporting service ..� � �
<br /> - used by Lender in rnnnection with this loan, unless applicable law provides otherwise. Unless an agreement is made or -, ` ';;;`. :�
<br /> applicable law requires interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. • ��� ' :
<br /> Borro�ver and Lender may agree in wriung, ho�vever, that interest shalf be paid an the Funds. [.ender shall give to Borrower, _
<br /> ... ,� �
<br /> � without charge, an annual accounting of the Funds, showing credits and debits to[he Funds and the purpose for which each }�,`'.�:.
<br /> debit to the Funds was made.The Funds are pledged as additional security for all sums secured by this Security Instrument. _ `• ^,:��,.;:,;,,
<br /> V� If the Funds heid by Lender eaceed the amounts pemtitted to be held by applicable law.Lender shall account to Borrower � �
<br /> for the excess Funs�s in accordance with the requirements of applipble lavi. If the amount of the Funds held by Lender at any .��';�:.•=���=,
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<br /> cime is not suffici�u�to pay the Escrow Items when due.Lender may so rt.�tify Borrower in writing,and,in such case 9�rrower !•',.i�r,,� r
<br /> - shall�.y to Ler.�e:tc;,amount necessary to make up the deficieacy. Borrower shall make up the deficiency in ao�ore than -
<br /> . twelce m�nthly payr,-.2nts,at I.ender's sole discretion.
<br /> - �•
<br /> Upon paymen_ in full of all sums secured by this 5ecuriry Instrumertt. Lender shall promptly refind to Borrower any � .`
<br /> .� ���
<br /> . Funds held by Lender. If,under paragraph 21.Lender shall acquire or sell the Properry.Lender,prior to tue acquisition or sale =-
<br /> �''%i.i-
<br /> . of the Property,shall apply any Funds held by L,ender at the time of acquisirion or sale as a credit against the sums secure�by �:;'R`;,�=�;
<br /> , this Ser�urity Instrument. ., ;a „ ;;;.�;;�..•<- •
<br /> 3.Appltcat�on of Paymen4s.Unless applicable law provides otherwise,all payments received by Lender under paragraphS �'�"fi'� J
<br /> :`; 1 and�shaU be applied: first, to any prepaymertt charges due under the Note: second, to amounts pay��!e under paragraph 2; - : z.:,;�r.��
<br /> third,co intemst due;founh,to principal due:ar.d[ast,to any late charges da�::�er the Not�. ' :'�ti��;
<br /> '� •i �,.Charges; I.i�. Borrower shall pay all trixes. assessments, chazges. �-es and itntsesitions attribusable to the Property � ,__' '
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<br /> • ; w h i c S� :�s y a u a i n p r i o r i ty o v e r t h i s S e c u r i ty Ins t r umen t, a n d I�ti.;�o l d payments or grauna t rents. i f any. Borrower shall pay ���;,��_;�:-�''� ,
<br />_ . .,� these a•b1i_rauons in the manner pmvided in paragraph 2,or if reac r�aid in that manner,Borrower shall pay them on time directiy
<br /> t,��yrs:t::�:w_��r: .
<br /> to th� �iln owed a ���'�`°��-"`.- _
<br /> , p.. p yment.Borrower shall promptly fumish to Lender all notices of amounts to be paid under this paragraph. �-�.:: '_
<br /> , If Borrower makes these payments directly. Borrower shall prompdy fumish to Lender receipts evidencing the payments. ---;-�
<br /> . • Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower:(a)agrees in .• • •"'"�"�
<br /> . , .
<br /> wriricg w the payment of the obligation securetl by the lien in a manner acceptable to Lertd�e:(b)contests in good faith the lien " '
<br /> ` by, or defends against enforcement of the lien in, legtil p,rac�3ings which in the Ler�n°'s opinion operate to prevent the �{+�►'�
<br /> enforcement of the lien:or(c)secures from the lieider of the t:��an agreement satisfactary to Lender subordinating the lien to
<br /> �: this Security Instrument. if I.ender determines tha���y part of tt:e Propeny ss subject to a lien which rr•�y attain priority over • 'g�
<br /> '�` this Security Instrucr.�nt, Lender may give Borrov.er a aotice i�nti4'}+ing t'�w'.ir.n.Bortower shall satisfy c:�lien or take one or ` ' ''vr;,,', : ;.• '``>'
<br /> � � mare o:the actions set forth above within ]0 da s of the�ivir� ,° �, '9�`�T'�'
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