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<br /> TOGETH6R Wi1'H:�ll the improvements nou•or hereafcer ereL'cgA on the property,xnJ sll ea.,ement:.,appurtenances,and ' : ' ` F =
<br />� �`r. f ixtures now or herea fter a p a rt o f t h e p r o p e rt y. A l l re p l a c e m e n t s a n d a d d i t i o n s s h a ll 3ISl) be covereci b y this Securi ty _
<br />� In�[rument. Ali nf the foregoing is referred to in thi,Security Instrument as the"Prope�ty." r , ,o- ,=_
<br /> � BORROWER COVENANTS that Borrower i�lawfully sei,ed of Yhe estate hen:by cunvcyed xnd ha,the right to grant and ,_ _ . ._,.__.
<br /> ' convey the P�•operty and that the Properry is unencumbered. except for encumbrances of record_ Borrower warrants and will �� ..
<br />-.--_ defend generally the title to the Property against all claims and demands,subject to any encumbrsnces of record. � . • . . .Y
<br /> � THIS SECURITY INSTRUMENT combin�s unifornt covenants for national use and non-uniform covenants with timiteci -`-'---- —
<br /> variations by jurisdiction to constitute a uniform securiry instrument cuvering real property. � . ' ' _
<br /> UNIFORM COVENANTS.Borrower and Lender covenant and agree as foUows: ' _-
<br /> . 1. Payment of Principal and Interest; Prepayment and Late C6urges. Borrower shall promp[ly pay when due the :- `� � ' ,
<br />' principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. _:, ,�.:,.,,�.r�,y:�,'��°_�
<br /> 2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by I.ender. Borrower shall pay to , , ,.v�_� -
<br />, Lenter on the day monttily payments are due undec the Not�,�ntil the Note is paid in fuli,a sum("Funds")for:(a)yearly taxes . � � .--.•
<br /> av�ass�smenu ahich may attain prioriry aver this Sec�r+n S^suument as a lien on the Properry:(b)yearly leasehold payments � � �=
<br /> .`..� ��=f`',�;::d.a�.�`,`.�:_, .
<br /> ,,y or gr�and rents o;�the Property.if any;(c)ye�rty hazard or property insura.nce premiums:(d)yearly flood insurance premiums, ' _ :-� T ::
<br /> ; ,,;; if an�; (e)}�ea�ty�rr.ortgage insurance prer-�L*:�:s. if any; and t� �y sums payable by Borrower to Lender, in accordance with � ` :� __
<br /> the p��'isions of paragraph S, in lieu of t�:�^.}r*►ent of mortgage insurance premiums. These items are called"Escrow [tems." '.'``.;�,,.`.:.,�,�� �=•.
<br /> L�nder ma , at an dme, coltect and heF�+ F::z3s in an�ount not to exceed the maximum amount a lender for a federally .:;�-;'•�=='•�+_���"•�-
<br /> relat� mort I 3n ma r uire for Eo*ro:.er's escrow�arcount under the federal Real Estate Settlement Procedures Act of '�-�"�`'� � `'- r��:
<br /> ��� Y e9 --�+•.s�,r;���-.
<br /> ' 1974 as amended from ume to time. 12 C_S:C. Section 2601 et seq. ("R�SPA"), unless another law that applies to the Funds �i�� �,•
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<br /> sets a lesser a�nount. If so, l.ender may, a:aLy time, collect and hotd Funds in an amount not to excePd the tesser amount_ •
<br /> l�_ Lender may estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future � ' �- -°:t:-i`' _,
<br /> • Escrow Items or otherwise in acwrdance with a licable law. � J �• �
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<br /> The Funds shall be held in an institution whose deposits are insured by a federul agency, instntmentality, or en[ity � 1:.'f� . '�'J�,;.`'�
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<br /> ,,' (includ'sng Lender,if Lender rs such an institution)or in any Federal Home Loan Bank.Lender shall apply the Funds[o pay the ', •,•�'::;;��i;,,,,°-;'. ;��
<br />' � Escrow Items. Lender may not charge Borrower for holding and applying the Funds,annually analyzing the escrow account,or %�`���
<br /> � verifying the Escrow Items,unless Lender pays Borrower interest on the Funds and applicabte law permits Lender to make such � �'�?t fi' _
<br /> . �, ,,;^�#;'� •' -'
<br />� a charge. Hourever. L.ender may require Barrower to pay a one-time charge for an inde�pendent rea!estate tax reporting service ;; • r,F:�: � - .��.:;,:;:.-�$`;
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<br /> ' w�ci by Lender in connection with this loan, unless applicable law provides other�vise. Unless an agreement is made or � .����'.� � ,. .,�..,, �;
<br /> •� applicable law requires interest to be paid, Lender shall not be r uired to a Borrower an interest or eamin s on the Funds. ��'��'�•`��
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<br /> ,f; Borrower and Lender may agree in writing,however, that interest shall be paid on the Funds. Lender shall give to Borrower. '����''�; ''
<br /> �. without char e, an annual accountin of thz Funds, showing crediu and debits to the Funds and the purpose for which eaeh :.•n��: �-
<br /> s $
<br /> debit to the Funds was made.The Funds are ptedged as additional security for all sums secured by this Security Instrument. ,e�;'„
<br /> ' If the Fuctds hetd by Lender exceed the amaunts permitted to be held by applicable law.Leader shall accaun[to Borrower �"`��`�:"�
<br /> for the excess Funds in accordance witfi the requirements of applicable law.If the amount of the Funds held by Lender at any .�:�� _-.-
<br /> � time is not sufficient to pay the Escrow items when due.L.ender may so notify Borrower in writing,and,in such case Borrower - ;,,;`�__
<br /> '. "� shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no mare than ,-�����;�,_�
<br /> . " :j twelve monthly payments,at Lender's sole diccretion. ..__
<br /> • ; Upon payment in full of all sums secured by this Security Instrument. Lender shall promptly refund to Borrower any ___ _ ��`.i'�'G'�
<br /> , Funds hetd by Lender.If,under paragraph 21, Le�der shall acquire or setl the Property.Lender,prior to the acquisition or sale _ _ ffi�
<br /> ��,r�,: of the Property.sha11 apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by ,.,_ ;�,•
<br /> '�k`'- this Security Instrument. �"'�'�`
<br /> 3.Application of Papments. Unless applicable law provides othenvise.all payments received by Lender under paragrap4�s ---=-
<br /> ° ' 1 and 2 shall be applied: first.to any prepayment charges due under the Note; second,to amounts payable under paragraph 2: - - -��.�,—: "`
<br /> "' third,to interest due;fourth,to principal due:and last.to any iate charges due under the Note. ;;.,n�, . �
<br /> �s�. 4.Cha�es;Llens. Horrower shall pay all taxes, assessmenu, charges, fines and impositions attributable to the Property , ' .�;� ^
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<br /> ,','� which may attain priority over this Security Instrument, and leasehold payments or�round rents, if any. Borrower shall pay '��'}��;�
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<br /> •;•! these obligations in the manner provided in paragraph 2,or if not paid in that manner. Borrower shall pay them on time direc t ly . •
<br /> • � to the person owed payment. Bonower shall prompdy fumish to Lender ali notices of amounts to be paid under this paragraph. _ �"''�'�'='�"'
<br /> ' �t If Borrawer makes these payments directty.Horrower shall promptly fumish to Lender receipts evidencing the payments. -���''x`�`�"��r
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<br /> ) Borrower shall promptly discharge any lien which has priority over this Security Instcument unless Bonower:(a)agrees in �., •
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<br /> � writing to the payment of the obligatian secured by the lien in a manner acceptable to Lender:(b)contests in good faith the lien �+ �+7`�tir�7-��� :
<br /> � by, or defends a�ainst enforcement of the lien in. legal proceedings which in the Lender's opinion operate to prevent the �� •� � ''• ••' !`
<br /> enforcement of the lien:or(c)secures from the holder of the lien an agreement satisfzctory to Lender subordinating the lien to '�.°'���'�`i`� _
<br /> this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over ''�%����0�°""�'�'`
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<br /> ;;�' this Security Instrument, Lender may give Borrower a notice identifying tBe lien. Bonower shall satisfy the lien or take one or 4 �
<br /> ::-,� �� �����`;�
<br /> ,,:{� more of the actions set forth above within 10 days of the giving of notice_ '' ' � •
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