|
,��� : . ,•;:�:"; 1
<br /> �
<br /> �; _
<br /> 98-�«�93� . � � _.
<br /> TOGETHER WITH all thc improvcments now on c�rcaftcr crccted on ihc property,and all casemen , appurtenances,and ,
<br /> fixtures now or hereafter a pan of thc property.All replacements and additions shall also be covercd by this Security Instrumcnl. r
<br /> ' Ap of thc foregoing is referted to in this Security Inswment as the"Property." ; _
<br /> BORROWER COVBNANTS that Bonower is lawfuUy scised of thc estatc hcreby convcycd and has ihc right to grant and � �
<br /> � convey the Prapc:rty and that the Froperty is unencumbered,except for encumbrances of�ecord. Bonower warranis and will r
<br /> ' defend generally the title to the Praperty against all clsums and demands,subject w any eneumbranees of record. �
<br /> THIS SECURITY INSTRUMENT cambines uniform covenants far naaonal use and non-uniform covcnan4K with limited .
<br /> variapons by jurisdicuon ta consututc a unifarm sccuriry instrument covcring rcFttl property. �
<br /> UNIFURM COV&NANTS.}3arrawcr and Lcndcr covcnantanda�rcc as follows:
<br /> � 1.Payment af Principal and Inter�.wt;PrepAyment and l.ate Churgcw. Bonowcr shull prompUy puy when duc the f
<br /> � principal of and intcrest an U►c dcbt cvidcnccd by thc Notc nnd any prcpaymcnt tu►d latc chnrges duc undcr thc hlotc. I
<br /> ,. 1 2.Funda for Taxes and InAUr�nce. Subjcct to applicublc law or tci a writtcn wuivcr by l.cndcr. Borrowcr shall pay to
<br /> L.cndcr on thc day manthly puymcn4K urc duc undcr thc Natc,unul thc Natc is ptud in full,c►xum("Funds") Cor (a)ycurly wxcs ,-
<br /> � und u,�.cc.csmen�v which may uttuin pric�riry ovcr�his Sccurity ]nswmcnt as a licn on thc Protixrty;(b)yc:arly Icaschold paymcn�ti
<br /> or ground renls on d►c Property,if Any;(c)ycurly har.urQ or properly insurancc prcmiumx;(d)ycsuly flood insursu►cc prcmiums,i f . ��_
<br /> Any;(c) yearly mortguge insuronce prcmiums, if nny;und (�nny sums payable by Barrower to Lendcr,in a�:cordnncc with the . ;:�.y�,,`��.
<br /> provisions of paragraph S, in lieu af the pnyment of mortgage insurance premiums. These items Are cnlled "Lscrow Items." �
<br /> I L.ender may,at any time,collect nnd hald F'unds in an umount not w exceed the maximum sunount a lender for n federatly related
<br /> j mortgage laan may require for Borrower's escrow account under the federal Real Estate Setdement Procedure.4 Act of 197A as �,�
<br /> : � amcndcd from dme to time, 12 U.S.C.Sccpon 2601 et seq. ("RESPA"),unlcss anothcr law that applies to U�c Funds scu a lesser � -
<br /> amount. 1f so, Lendcr may, at any time, collect and hold Funds in an amount not to cxcecd the Ics.scr amounG L.ender may
<br /> ] estimaue�he amount of Funds due on the basis of current data end reasonable atitim�tes of expenditures of future Escrow Items or
<br /> � othcnviscin accordancc with applicablc law.
<br /> 'Ihe Funds shall be held in bn institution whose d�posits are insurcd by a fcdcral agency,instrumentaliry, or enlity(including
<br /> i Lendcr, it Lendcr is such an instiwtion) or in any Fcderal Home Loan Bank. Lender shail apply the Funds to pay the Fscrow
<br /> Items.L,�►der may not charge Borrower for holding and applying the Funds,annually analyzing the escrow account,or verifying
<br /> ' the F.scrow Items,unlcss Lender pays Bonower intcrest on the Funds and applicable law permits Lcndcr w make such a charge.
<br /> � 1 Howcvcr,Lendcr may require Borrower to pay a onc-timc chargc for an indepcndent rcal cstatc tax reportin� service uscd by
<br /> � L.ender in connectl�n with this loan, unless applicable law provides otherwise.Unless an agreement is made or appUcable law ,
<br /> ., requires interest to be paid,L.endcr shall not bc required to pay Borrower any interest or carnings on thc Funds. Bonower and ;
<br /> � .� Lendcr may agree in writing,howcver,Ihat intcrest shall bc paid on thc Funds.Lcndcr shall givc to Borrower,without chargc,an
<br /> annual axoundng of the Funds,showing credits and debits to the Funds and thc purpose for which each debit to the Funds was
<br /> � made.Thc Funds arc pledgc;d as additionai security for ull�u�ns�cx:uieil by this�r.curity Insirumcni. ',;.;� ;—,,
<br /> �; If the Funds held by Lender exceed the amounts permitted to be held by applicable law,Lender shall eccount to Borrower for 4q��, t�
<br /> the excess Funds in accordance with the requirements of applicablc law.If ihe amount of the Funds hcld by Lender at any dme is `��,�
<br /> not sufficient to pay the Escrow Iterns when due,Lender may so notify Borrower in wridng,and.in such case Borrower shall pay ` �_-
<br /> �I to I.ender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than twelve '��:�.
<br /> $ monihly payments,at Lcnder's sole discretion. .
<br /> Ugon payment in full of all sums secured by this Security Instrument,Lender shall prompdy refund to Bonower any Funds .
<br /> � hcld by Lender. If,under paragraph 21, I.cndcr sh�ll acquirc or scll the Praperty,I.cnder,prior to thc acquisidon or sale of thc
<br /> • Property,shall apply any Funds held by Lender at the qme of ncquisition or sale as a credit against the sums secured by this �� `��,
<br /> Security InstrumenG �'���
<br />
|