|
•w+�.. 1
<br /> .'y�� . . . - . _
<br /> +�wN
<br /> ,i__ . � � ' - ' ,..,.,.,, .
<br /> ��_. , .
<br /> .�, . , - . �.� •
<br /> / . r . . . '_F _
<br /> . _ . -..�.� -
<br /> � . .. �.�1yJ�.c
<br /> I -
<br /> � 98-�t%�.`�'� � , �.
<br /> TIXiE'fHER W1TN all thc improvcmcnts now on c�rcattcr crectcd on�hc praperty,and all casements,appurtenanccs. and �
<br /> � fi�tures now on c�reaitcr a part af thc pra�rerty.All replacemcnts and ndditians shsill ulso bc covcred by this Sccurity InstrumenG �
<br /> � AU of thc[urcgoing is ccfcrrcd lo in this Sccuriry Instrumcnt as thc"Prnpcirty"
<br /> � BORROWER COVENANTS thet Burrowcr is lawfully scised of thc cstau hcrcby convcycd and has thc right to grant and . ,. :;4
<br /> � convey the Property and that the Propeny is unencumbered, except for encumbrances of rccord. Boizower warrnnts and wiU ° _
<br /> � •1 defend generally Ihe aUe to the Property against all claims and demands,subjxt to any encumbrances of record. . _
<br /> THIS SECURITY INSTRLJNIENT combines uniform covenant�for nauonal use and non-uniform covenanu with limited . �:.' - __
<br /> variations by jurisdiction to consGwte a uniform sccurity instrumcnt covering real property. � ;��„::'. :�
<br /> LJNIFORM COVENANTS.Borrower and L.ender covenant and agrcc asfollows: . ,. ">�•°�..`d'j�:
<br /> 1.Payment of Priactpat aad Interest;Prepayment s►nd Late C6argea. Borrowcr shaU prompUy pay when due the -�c�`};���;;.�___
<br /> principal of and�nuerest on the debt evidenced by the Note and any prepayment and late charges due under the Note. ��?;�=%���`
<br /> 2.Funds tor Taxes aad Insurance. Subject to applicable law or co a wriuen waiver by Lender, Bonower shall pay to _
<br /> Lcndcr on the day monthly payments are duc undcr thc Note,undl the Notc is pald in fu U,a sum("Fun d s")for: (a)ycar ly t a ues • ...-��
<br /> and assessments which may attain priority over this Security Instrument as a lien on the Property;(b)Yearly Icasehold payments
<br /> or ground rents on the Property,�f any;(c)Yearly hazerd or property insurance premiums;(d)yearly flnod inswance premiums,if '
<br /> any; (e)yearly mortgage insurance prcmiums,if eny; and (�any su�ns payable by Borrowcr to I.ender,in accordance with the -
<br /> provisions of paragraph 8. in lieu of the payment of mortgege insurance premiums. These items are calleci "Escrow Items."
<br /> Lender may,at any pme.collect and hold Funds in an amount not to exceed the maximum amount a Iender for a federally related
<br /> „ mortgage loan may require for Borrower's escrow accouru under the federal Real Estate Settlement Praccdures Act of 1974 ns
<br /> amended from time to dme, 12 U.S.G Secdon 260� et seq. ("RESPA"), unless another law that applies to the Funds sets a lesser
<br /> amoun� If so, Lender may, ac any time. collect and hold Funds in an anx�ur►t not to exceed the Iesser amounG L.ender may
<br /> �;, estimate the amount of Funda due on the basis of current data and reasonable csumates of expenditures of future Escrow Items or _
<br /> otherwise in accordance with applicable law. .
<br /> The Funds shall be held in an institution whose deposits are insuretl by a federal agency,instrumentality,or endty(including ,.,���
<br /> Lender,if Lender is such an instiwtion)or in eny Federal Homc Loan Bank.Lendcr shall apply thc Funds to pay the Escrow ___
<br /> Items.L.ender may not charge Borrower for holding and applying the Funds,annually analyzing the escrow account,or vertfying -_—_
<br /> - the Escrow Items, un�ess Lender pays Borrowcr uitc.i�t on thc Furstl�:.nd apglicable ls::�pcnniis Lendcr to rr�?kP cuch a charge. • '
<br /> Howevcr,Lender may requirc Borrower to pay a onapme charge for an independent real cstate tax reporting service used by E;�:;__ _
<br /> Lender in connection with this loan, unless appGcable law provides otherwise.Unless an agreement is made or applicable law g=,
<br /> r�quites interest to be paid,Lender shall not bc requircd w pay Borrower any interest or camings on the Funds. Borrower and -
<br /> Lender may agrce in writinn8,howevcr,that interest shaU be paid on the Funds.Lcnder shell give to Borrower,without chargc,nn �,; —
<br /> annual accounting of the Funds,showing credits and debits to the Funds and the purpose for which each debit to the�unds was --
<br /> �:
<br /> made.The Funds are pledged as addidanel security for all sums secured by ihis Securiry InsuumenG �
<br /> � If the Funds held by Lender exceed the amounts permitted w be held by applirable law,I.ender shali account to Borrower for ;. ,
<br /> thc c
<br /> xcess Funds in eccordance with the requirements of applicable law. If�he amount of the Funds held by Lender at any time is �,� -
<br /> ' , not sufficient to pay ihe Escrow Items when duc,Lender may so notify Bortowcr in writing,and,in such case Borrower shall pay —__
<br /> ' { to Lender thc amount necessary to make up the deCciency. Borrower shall make up the dcficicncy in no more than twcive __
<br /> ' • monthly payments,atLendePs sole discretion. :_.
<br /> Upon payment in full of all sums secured by this Securiry Instrumcnt,Lender shall promptly refund to Boirowcr any Funds F• _
<br /> � held by Lender.If,under paragraph 21,Lender shall acquire or seU the Properry,Lender,prior to the acqulsidon or sale of the -- _
<br /> Property,shall apply any Funds held by Lender at the time of acquisidon or sale as a credit against the sums secured by this „___
<br /> `• Security InstrumenG `�:--_--_
<br /> �. 3.Applicatton at Payments. Unless applicable law provides otherwise. all payments received by Lender under paragraphs ' r�l_� _
<br /> 1 and 2 shall 6e applied: first,to a�ry prepaymcnt charges due under the Note;second,to amounu payable undcr paragraph 2; _a-r _�-___
<br /> third,to interest due;fourth,to principal duc;and last,w any late charges due under the Note.
<br /> R 4.Charges;Liens. Borrower shall pay ali taxcs,assc.ssments,chargcs. C�nes and imposidons aaributablc to the Property - —_.
<br /> which may auain priority over this Security Instrument,and leasehold payments�r ground rents,if any.Borrower shall pay these �`,_.,., �`�s�*
<br /> obligations in the manner providcd in paragraph 2, or if not paid in that manner,Borrower shall pay them on rime direcdy to the .."�;t�� . .."'
<br /> person owed paymcnG Borrowcr shall promptly furnish to Lcndcr all naricrs of amounts to bc paid undcr this paragraph. If ��'' � � ' ' �,L
<br /> Borrower makes these payments direcdy.Borrawer shall prompdy fumish to Lender receipts evidencing the payments. .Fa . ..."` -�:.=�•
<br /> Borrower shall prompdy discharge any lien which has priority over Ihis Secwity Instrument unlcss Borrower: (a) agrees in -•,�,r,• •
<br /> writing to the payment of the obligadon secured by the lien in a manner ecceptable tn Lender;(b)contests in good faith the lien �'��;��".
<br /> by, or defends against enforcement of the lien in. �gal proccedings 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 a�rcement satisfactory to Lender subordinadng ihe lien to
<br /> this Security Insarumcnt If Lender determines that any part of thc Property is subject to a licn which may attain priurity over this I
<br /> Security Instrument,Lendcr may give Bonower a notice identifying Ihe licn. Bonowcr shall saasfy thc licn or takc onc or morc
<br /> of thc actions sct forlh abovc within 10 days of thc�iving ot noticc.
<br /> Form 3028 9�90 �
<br /> (�j •8R(NE)lsz�z).o� raqe2ote i�waie: i
<br /> 0
<br /> t _
<br /> . . � -.---. ._—__--.-_
<br /> '
<br /> _ __ _ _.
<br />
|