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<br /> ` � ' < .r T'OGE1'HER W1TH all ttte im�mvement�ru�w or hereafter erected on the property.and aIl easemenu.appurtenances.and _`.;__:.--
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<br /> fuwres uow or hereafter a part of tfie propzrty_ All replacemenis and add'►tions shall aiso be covered by this Security ' :`- =
<br /> Instrusnen�At!of the foregoing is refened to in this Sewrity tn�e„���nt as the"Property." .. _.. �.:.
<br /> ' • BORROWER COVENAr1'f5 that Borrower is lawfiiliy seised of the estate hereby conveyed and has the right to grant and � <<.:,�:4•�`�,
<br /> � , • � _ oomey ttte Property and that the Property is unencumbered,except for encumbrances of record. Borrower warranu and will . .
<br /> �� defend generally the atle to the Property agalnst al1 claims and dcmands.subject to any eacumbrances of record. • � �;
<br /> ' � ' �. THIS SECURITY INSTRUMENT combine�wniform covenants far national use and non-uniform covenants witt►Gmited �: :c � `° c(�
<br /> . .� • � variations by jurisdiction to constiwte a uniform security instrument covering real pmpertY. �. ,
<br /> - UNIFORM COVENMI'fS.Barrower and Lender covenant and agtee as follaws: ' � ,:,.:; .` -
<br /> �. � . � •' l. Payment of�incipal and Interest; Pre�aYm�t and Late Chatges. Borrower shail pmmP�Y PaY when due the • ;,•.. ` .
<br /> -- ` '����-�: principal of and iaterest on the debt evidenced by the Note and any prepayment and late chatges due under the Kote. ''�{ • =
<br /> ^�--`=� = � - 2. �unds for Taxes end Iusar�e.St�b,ject to applicable!aw or to a written waiver by I.ender, Borrower shall pay to _ _
<br /> • . � � Lender on the day monthly payments are due under the Note,until the Note is paid in fiill.a sum�"Funds")for:(a)yearly taxes Y y���:•,.� �;.`��.,
<br /> F . � • � and assessments which may aifain priority over this Security Inmument as a lien on the Property; (b)Year1Y leaseli°!d payments .-�� �
<br /> . � or ground rents on thc Property.if any:i�)Y�ly harerd or property insurance premiums;(d)Year1Y flood insurance premiams.
<br /> ��. �.. ,,:
<br /> -- � if any:(e)Yearly mortgage insurance premiums.if any; and(fl anY sums payable by Borrower to Lender,in accordance with - -
<br /> - � • the pmvisions of paragraph S.in lieu of the payment of mortgage insuiance premiums.'Fhese items are ralled"Fscmw Items-" .;�_:°:;�, . . "'-��
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<br /> � ' L.ender may, at any time,colIect and hotd Funds in an amount not to exceed the maximum amouc►t a lender for a fedetaIly � :f-� �:-':`.;�•;.°�?-
<br /> .. � � � �. refated mortgage loan may require for Borrower s escrow account under the fedetai Real Estate Settlement Procedures Act of : s;•��_,r�._
<br /> ' ' '" � 1974 as amended from time to time. 12 U.S.C.Section 2601 et seq_ ("RESPA"), nnless another law that applies to the Funds ;�'"•''�'..':f-
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<br /> . - _�. sets a lesser amoum. If so. Lender may,at any time,vollect and hold Funds in an amount aot to exoeed the lesser amount. : ,,�:.
<br /> � Lcnder may estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future _,_ .
<br /> : . Escrow Items or otherwise in accordance�vith aPPlicable law. .. _
<br /> ',` The Fnnds shall be held in an institution whose deposits are insured by a federal agency. inswmentality. or eatity -
<br /> . , ',� - - (including Lender,if Lender is such an instituiion)or in any Federal Home Loan Bank.l.ender shall apply the Funds to pay the ;�•;��,�_
<br /> - ,,(• .��:?,: Escrow Items.Lender may not charge Barrower for holding and applying the Funds.annually analyzing the escrow accoun�or ... _ ;�-�—
<br /> ---�-- �� �� • verifying the Escrow Items,unless I.ertder pays Borrower interest on the Funds and applicable law permits Lender to maEce such . �. _�-��-
<br /> � a ct�arge.However,Lender may require Borcower to pay a one-time charge for an independent real estate taic reporting senrice ' � ��_
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<br /> �, � . . � ' used by Lender in connection with this loan. uniess applicable law provides otherwise. Unless an agreement is made or �,: -
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<br /> • ';•.i applicabie law requires interest to be paid.Lender shall not be required to pay Borrower any interest or eamings on the Funds. . .��.,.:.--
<br /> '. -' Borrower and Lender may agree in writing. however,tlmt interest shall be paid an the Funds.Lender shall give to Barrower. �� :-
<br /> without charge. an annual accounting of the Funds,showing credits and debiu to the Funds and the pur�ose for which each
<br /> "�'� ��.:
<br /> • �� � ` debit to the Funds was made.The Funds aze pledged as additional security for all sums secured by this Secunty Insttument. __
<br /> - .��� If the Funds held by Lender excced the amounts pertnitted to be held by applicable law.I.ender shall acconnt to Borrower -
<br /> ��-���-�- -. ' �` for the excess Funds in accordance with tlie re9uicemenu of applica6le iaw.If the amount of the Funds held by Lendes at amy _ --
<br /> ,. � 6me is not sufficient to pay the Escrow Items when due. Lender may so nodfy Borrower in writing:and,in sach case Boaower "^� . ___,
<br /> • . shall pay to L.ender the amount necessary to muke up the deficiency.Borrower shall make up the deficiency in no more than . °;:�,-�:
<br /> - .= _� nvelve montlily payments.at Lender's sote d.iscretion. ,��
<br />- �: `..''� l7pon payment in full of all sums seciued by this 5ecurity Instrument, Lender shail promptly refund•to Borrower any . __
<br /> -• � •� Funds held by I.ender.If.under paragcaph 21.Lender shall acquire or sell the Property,Lender,prior to the acquisition or sale :�;�
<br /> � of the Property.shall appty any Funds held by Lender at the time of acquisition or sale as a cmdit against the sams secured by � --�-�`A
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<br /> - --.,— - this Security instrument. _- .�._
<br /> ' ..' 3.ApplicatIon of Payments.Unless applicable law provides otherwise.all payments received by Lender under paragraphs • �;;;;�;'
<br /> � _ 1 and 2 shalf be applied:first,to any prepayment charges due under the Note: second.to amounu payable under paragraph 2; . =_
<br /> - � third.to interest due:fourth.to principal due;and last,to any tate charges due under the Note. � � ,
<br /> . 4.Charges;Liens.Borrower shall pay all tanes. assessmenu, charg�.s,fines and impositions attribntabte to the Property
<br /> � � • which may attain priority over this Security Instrument. and leasehold payments or ground rents,if any. Borrower shall pay __
<br /> = ' .� these obligations in the manner provided in paragraph 2,or if not paid in that manner,Borrower shall pay them on time directly �,: :.�, T-�
<br /> '- .-� to the person owed payment.Borrower shall prompdy fumish to l.ender all notices of amounts to be paid under this p�.uag�ph. ±�t : . _'•�r',.;.;
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