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<br /> 'POGETI-�R Wl'I'H ail the improvemeAts now or hereafter erected on the property,and all easeisients,aPPnrtenauces.and ;� . :;�--
<br /> � fucwres aow or hereafter a part of the property.All replacements and additions shall also be covered by this Seciuity Instivmen�. ' �: . �
<br /> .� All of the foregoing is referred w in this Secmcity Instrument as the..Property.. -. .`� �
<br /> . B�RROWEIZ COVENAId'I'S that Botrower is lawfully seised of the estate hereby conveyed and has the right w grant and ' � : • __
<br /> convey the Froperty and tbat the P�nperty is uaencumbeaed,eaccept for encumbrances of record. Borrower waaants and will . —
<br />. defend geneaally the titZe ro the Property against all claims and demands,svbjea to any encumbrances of record. �. . . ` �`�
<br /> -.� TEIIS SECiJR1TY INSTRUMENT combines uniform cova�uets for national use and non-uniform wvenants with limited ' - -" ` —
<br /> m +
<br /> . variations by jurisdic�on w constitute a uniform security insuument covering real property. . . . � . -
<br /> UNIFORM COVENANTS.Bormwea and Lender covenant aad agree as follows: � ; __.�
<br /> 1.Puyment at Prindpnl and Inter�Prepuyment aad Late Ciiarges. Boirower shall P�mPUY PaY wheu dae the � . .
<br /> printipal of and'nuQrest on the debt evidenced by the 1�Iote and any prepaynunt zad late charges d�e undea the Note. • ', " �•� ._
<br /> 2.Funds tor Te�ces aud tnsmanoe. 5ubject to applic�ble law or�o a timtien waiver by L.emder, Bonower shall pay to '' . � , � "'��_`
<br /> I.euder on the day monihly pa}anents are due nnde,r the Note,until the Note is paid in full,a sum("Funds'�for.(a)yearly taxes ,•3•�s°-��
<br /> and assessments which may auaum priority over this Secauity Iasnumer►t as a lien on tha Propaty;(b)Year1Y leas�hold payments f •, --�:- =_ :;
<br /> � or ground rents on the ProP�Y,��Y.(�)Yearly hazard or gmperty u�s�uance premium�(d)Year1Y flood ins�uance premiumv,if •• ' .�`.=,_-
<br /> , a n Y'(e)Y e a r ty mo rt g a ge i n s�ce premi u m s,i f a nY;a a d(�anY s u u u P aY a b l e by B o r r ow e x t o L e u d e a,i n a s x o r d a nce w i t h t he � . `':•�::�-::?.
<br /> provisions of paragraph 8, in lieu of the payment of mortgage msurance premiums. T]iese items are calted "Fscrow Items." ,. . ���
<br /> ' Lender may.ai any mne,collect and hold Funds in an zmae��not ro exceed the maxim�n amouni a lender for a fede�ally related ' , '
<br /> mQrtgage loan may requffe for Bomnwer's escrow acca�:ender the fede�al Real Fstate Seuleanen2 Proced�es Act of 1974 as � � .� � � " #._
<br /> ��;! amended from time to t�e,12 U.S.G Section 2601 et seq. ("RFSPA'�,anless aicothea 1aw that applies to the F�nds sets a lessear ` #`-�."
<br /> -�•�-•;
<br />;;;� amount If so,I�d�may.at any time,oe�ect and hold Fands in ��noant not to exceed dte less�r amouat Leade.�may . . ;�,::, -_.�_ "
<br /> estimate ihe a��act of Funds due an the basis of aurent dara and reasona3le esumates of enpendinaes of fuuue Fscrow Items or '��'
<br /> �,�: .-f�..
<br /> ..��; OtI1CiWLSC iD 2CCOT$2I1CC VIl1tL 2�liC8b10 Z3W. ., . � '`'�p:•-,.�v
<br /> 'Ihe Fnnds shall be 6eld in an institution whose deposits are insiue4 by a federal�cy,iasorunaentality.or entity(includmg '
<br />,. �' Lendea,if L.ender is sucb an instimtion)or in any Fedeaal Hame Loan Bank L.end��all apply the Funds to pay the F.scmw ; '�
<br /> Items.L.ender,�-not char e Horrower for hold'ui and a I ' the Funds.annaalI anat the escrow account,or v ��i �-�� �
<br /> � 8 8 PP Ym� Y Y�g �p►S - r , •,.
<br /> the Fscrow Ite�s an�ess Lender pays Bmmwer interest on the Funds and applicable law pearnits I.end�w make suc6 a chzrge. . � .. �.•�`�' ,;��i ::L�
<br /> However,Le�c.�may require Boaowea tn pay a on�time charge for an independent real estate tax reporting savice used by •.. ��"
<br /> ,, i�;:
<br /> Leadea um connection wiih this loan,un2ess applicable law provides otherwise.Unless an agreement is made or agplicable 1aw �_;;a • '`� '�
<br /> teqt�irees inteaest to be paid,L�der shall not be requaed tn�ay BoJrower any inteaesi or evrnings an the Funds.Bonaw�and �.�r- ° :�:.',�' .--
<br /> I.e n d e a m a y 2�a e I n v a I t i�a g,&o w e v e r,t h a t i n t e r e s t s h a l l b e p a i d o n t h e P c�d s.I.e u d e r.^.h a ll g i v e ro II r.._.—n w e r.w i t h o u t c h a r g e.a n , , ` .` ' , •,.t t:: �
<br /> ;;' , 8 8 P►uPose for a-�*�.�:.h debit to ihe Funds aa� p�,.��'�
<br /> annual accounun of the Funds.showin axdias acd debits w the F��3 the � '%� , �
<br /> �:�. :, � ,..� �:
<br />,�.'�, m a d e.'i he F a n d s are p l e dg e d as a d d i t i o n a i s e r�v i t y for a ll sums secta e d t;; a�-.-'.s Secauity L�s t r u ment „; •�'- '. '; . •—
<br /> �
<br /> If the Funds held by I.endea exceed the amounts peamiued w be held bY aFP1i�L*i-a i:�;�.I.enda shall accouni to Bormwea foz „�,,: .� <.t�; -:
<br /> ��':�:.. _�..
<br /> the excess Funds�accordance witb the reqasements of applicable taw.If the amo��Y the Funds hetd by Lende�at any time is � ..;;�;,; • . ;�, �.
<br /> not suffcient to pay the Fscrow Items when due.Lendea may so no6fy Borrower in ariting,and,in such case Bmrowee shall pay ,_ , �.
<br /> w I.ea�dea the amount necessary to make up the deficiency. Barrower shall make up the def�ieacy in ao more tt�w twelve ��'°�== --
<br /> monthly payments,at I.ender's sole discretion. . ���
<br /> ^[,�,. . ."�_
<br /> Upan payment in full of all sums sec�red by thi4 Se�rity Insavmeait,I.endea shall pmmptly refund to Borrower any Fnnds .,;;.:._..;_���•-�- -� ..
<br /> ,�=�'
<br /> held b Lender.If,under paragraph 21.Lendea shall peaty.Lender,prior w the acquisition or sale of the """"'^"�
<br /> y ac��e or sell the Pro
<br /> ..:��� � ----
<br /> A�operry,sLall appty any Funds held by Lender at the tune of acquisiaan or sate ag a credic against the sums secured by thi,c '.. .;- .- .,,,: �.
<br /> `;y�-� Seaaity Iasirameat � � .,,-,-
<br /> ^:i' 3.Applkation of�yaseut9. Unless appticable tsw rovides othernise.al! a ents receive8� Lendea undea ara .,. �°
<br /> 7 D P �'n► Y P �1� ...':*a��,����
<br /> i and 2 shall be applied:fiast,to any prepayme�t charge9 due under the Note;seca�d,sn amounts paya6le unde�paragraph 2; �°-��-_=°_---" --
<br /> third.w intcaest due:fo�uth.ce�pm:eipal due:and 1as14 tn any lare charges dae under d:e tv.vte. - ��" �
<br />. 4.Chuges;Lieas. BmrroR�zr shall pay all taxes, assessnents.charges.fines and impositions amYbutab2e to the ProP�Y ::��..—
<br /> whi�b ma auaia ori ovea this Sec�ri Instrumen�and leasehold ' `` ��-
<br /> Y � LY iS pa}+ments or gronnd rents,if any.Borrower shall pay these °�';�
<br /> obligations ui the rnanner provided in paragraph 2.or if not paid a�that manner.Borrower shall pay them on time directty to the � .: -,....,�;�.�,:.. . t :.
<br /> peason owed paymea�t Bnrrower shall pmmpfly fwmish w L.ender all notices of amounts w be paid�nnder this paragraph.If -';�.;;";�.s
<br /> Bwm��er malces these paymes�d'uectly,Boimwea shall prompdy fr�ish w Lender receipis evidencing the yay�e�s. �: �:� ,.�_ —
<br /> Borrower shall prompdy discharge any li�which has priority o�;er�his Security Instrumeait un2ess Borrow�:(a)agrees�. '� .� '�
<br /> writin t0 the ��">• !_
<br /> 8 payment o f t he o b ligation secured by the lien in a m�„^�r acceptable to Lender;(b)a�.:,.:sts in good faith the G:� . .:,!•;:;i:,., �s=-'
<br /> by. or defen�s a�ainst enforcement of tha tien in, legal procecdings�:hich in the Lend�'s opinion op�ate oo prevent t�e � ' � .�.''.���"� •��=- -
<br /> enfoncement of the lien;or c)seaues from the hoider of the liea�an ,�,' ,: .''':�'#`.` ' ___
<br /> ( a,�reement sadsfactory w Lende,r subordinating the lien to .�•. . .
<br /> this Security Insuument If I.ender detrrmines that any part of the Property is subj�t w a lien which may at�priority over this . ` • , --_
<br /> ' Securi Insvument,Lender ma ve Bomaw�a noticce iden' �:�;'�; :. . . —
<br /> ty y gi e nfying the lien.Borroa+�sfiall satisfy the lien or take one or more �'� �..'
<br />•�;� of the acdons ssu fanh above within 10 days of the giving of notice. • � ,„'t.;;. . ___.
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