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<br /> ! TOGETF�R Wl'fH all the improvcments now on c�rcaftcr crected on thc propeny,and all rascmcnu,appurtcnances,and •
<br /> ' , fuWres now or hereafter a part oI the pro�terty.All replacements and additions sha11 also be covered by this Security InsuumsnG ' � , . . -
<br /> � ' All of the foregoing is refeired to in this Security Ir�strument as the"Property." �� . c'
<br /> . BORROWER COVENANY'S that Barrower is lav�fully seased of the estate hcreby canvcycd and has thc nghe tn grant and ; "•
<br /> � convey the Propesty and that ths Propeny is unencnm6ered. eacept for encumbrances of record. Horrower wa,rrants and will � • • '
<br /> � defend generally the title m the Propeny against all claims and demands,subject to any encumbrdnces of record s � �
<br /> - THIS SECUP.ITY IIVSTftIJMFNT cambu�cs uniform covenants for national usc and nan-uniform covcaants with limitcd f - . - -=�_-
<br /> variaLions by jurisdic6on w consIItute a uniform security insorument covering real property. . ; �
<br /> , UNo-ORM COVENAMf'S.Borrower and L,ercder wvenant and agree as faliows: . :�
<br /> 1.Payment o�Prindpal and Interest;Prepaymeu4 and La4e Char�es. Boirower shall prompily pay when due the k —
<br /> :� principal of and int�rest on the debi evidsnced by the Not�and any prepaymettt and late charges due uuder the Note. N • �=
<br /> , 2.Funds Por Taxes aad Insuraaoe. Subject to applicabte law or ta a written waiver by Ixader,Borrower shall pay tn j •
<br /> Lender oa t6e day maathly paymeuts are due under the Note.until the Note is paid'n�full,a sum("Funds")for.(a)yearly taxes j . . '
<br /> ..,�j and asse�smenu wfiich may attain priority over this Security Instnna►ent as a lien on the Prope.rty;(b)Yearly leasehold payments f . . ` `
<br /> � or ground rents on We Progeaty.if anY.(c)Yearly hazard or propercy insutance premiums;(d)Yearly flaod insurance premiums,if � ' . . . -
<br /> � a nY:(e)Y e a r l y m o rt g a g e i n s u r a n c e p r e m i"m�i f a n y:a n d(�a n y s u m s p a y a b l e b y B o r r o w e a t o L e n d e r.i n a c c o r d a n c e w i t h t h e i ,7:: �
<br /> provisions of paragraph 8. in lieu of the payment of mortgage insurance preeniums.'Itiese items are calted "Escmw Ite�ns." l ; .�___•��.��
<br /> Lender may,at any tuae.collect and hold Fimds in an amount not tn exceed the maaimu�amormt a lender for a federally nlated i . ' F.:
<br /> mortgage toan may requiQe for Bomower's esaow accaunt under the federal Real Estate Settlemeat Pirocedures Act of 1974 as • �� '
<br /> �� • -. ♦ ' -IS�#��-• ..
<br /> ameaded from time W time,12 U.S.C.Section 26b1 et seq. ("RESPA"),unless another law t6at applies tn the Funds sets a lesser �� . � . �.,�
<br /> .,-��_-.
<br /> ,. = amoun� If so.L.ender may.at any time,collect and hold Funds in an amount not to exceed the tesser amount Lender may < < ��_��-_
<br /> ` estimate the amount of Funds d�¢�the basis of cuaent data and reasonab2e e.�timates of expenditures of future Fscrow Items or
<br /> �—
<br /> otherwise in accordance with aFpi.cab'.�law. �. °, • ' r..�,,;;:.��
<br /> 'lhe Funds shaU be held'n���,s�uui¢n whose deposits are insured by a fedezal agency,instnunentality,or entity(u�cluding
<br /> Lender,if Lender is such an instaution a7 i�an Federal Home Loan Bank.Le�►der shall I tha F�nds w a the Escrow ,;o�S=`
<br /> ) Y aPP Y P Y ,��:a, . _
<br /> :� Items.Leader roay not charge Borrower for��"_ding and aPPjYmS the Funds,annualty analyr�ng the essa�w atcount,or veaifying . . ,.,
<br /> the E�crow Items, unless Lender pays Borrower interest on the Funds and applicable law permits Let�der to rsiake�trlx a charge. . ,.�� ' �;,, .___
<br /> ' �•^ ,
<br /> Hour��;a,L e n dea may requira�nrrowa to pay a one-time c�esrge for an in depen dent r e a l estate tax report�g �-e�u s e d by ; r; 1: : ,. �._,
<br /> I.eu�r ui connection witi�this Ilaa:s,unless applicable law provides oi6awise.Unless an agreernent is�nade or�G�able taw ',.�.;,�'�,�...,• . .
<br /> � � reqnues int�est ttn�paid,Len3er shatl not�Tequired to pay Sorrower�ay usterest or eamings on ahe Fnnds.Borrower and ;� ;� .,.
<br /> �:; Lender may agree in writing,hoaever,that inteaest shall be paid on the Funds.I.endea shall give w Br.�nwer,wit6out charge.an • . "� . s�'
<br /> ' �'� annnal accounting of the Fu�c�s,showing credits and debits to the Funds and[he puipose for which ea��i debit to the Funds was � •�� _ ,
<br /> ma�a'Rie Funds are pledged�additional secruity for all sums sea�red by this Security Ins�ument ;�; ',
<br /> If the Fands hetd b Lend�atceed the amounts 'ued w be heId b licable law,Lender shall account to Borrowea for `�• ` ��� .
<br /> ,: � Y P� Y aPP .:� �� ,..t • _
<br /> the excess Funds in accordance with the cequirements of applicable 1aw.If ti�e amount of the Funds he�d by I.ender at any time is � d.. �-{� ,
<br /> not sufficient w ay the Fscrow Items whea due.Lender ma so no Borrower in wriun ,and,in suc3�case Bomower shall a ��. , �'�
<br /> . P Y �Y & P Y �; • •
<br /> • tn Lender the amount n to make the d�cien Borroaer shall make u the deficien i�no more than twelve -': 6
<br /> eces�rY aA c3+• P cY � y ._Q�'._:;
<br /> monthly payments,at Lender's sole discretion. '"
<br /> UPon Payment m full of all sums sec�ued by this Secuiity In s tr u ment,Len d e r sh a ll�Cr omptly r ef u n d t o B o r r o w e r a ny F u n d s �'� "�
<br /> held by Lend�.If,ander paragraph 21,Lender shaU acquire or sell the Properry,Lender,prior to th�zcquisiaon or sale of tha ��'�� -�
<br /> Progerry.shall apply any Funds held b Lenda at the ame of ��a s�y
<br /> Y aaluisitio:n ar sate as a credit against the sums secured by this �-` -,:
<br /> ' Sectuiry 1ns�um�t �`�`s.�•.-,�—�—
<br /> .. !Y}.�►rre'�'f.--- ..-:,r.._...
<br /> . 3.AppUcatlon of Payments. Unless applicable law pmvidcs aherovise,all payments received by Lender nnder paragraphs t��
<br /> a _. :�. ,:.:-
<br /> 1 and 2 shaU be applied:fus7,to any prepayment char es due ander the Note;second.to amouats paragraph 2; ':.`��'��"
<br /> 8 paYable under ��Y, --
<br /> • third,w interest due;fourth,w principal dae;and last,to any late charges due under the Note. '�`"a�=��.r
<br /> . 4.Charges?Liens. Bmrower shaU pay all taxes,assessments.charges.fincs and impositions sun'ioutable w the Property s�::�•s;;``
<br /> , ,�,y,�;.t,:.
<br /> which may atiain priority over this Security Instrument,and leasehold paymenis or ground rents,if any.Barrowea shall pay these � � `+�.; .°
<br /> : ; obligauons in the manner provided in paragraph 2,or if not paid in that manner,Horrower shall pay them on timme directly to the . . . " , � '�
<br /> person owed payment Borrower shtill promptly fumish to Lender all notices of amovnts to be paid under this�^�raph. If : .. �•.�,;��-•
<br /> Borrower makes these payments direcfly,Borrower sball promptly fumish tn Lender receipu evidencing�e payments. .�`;`�
<br /> �. Bo�rower sha1��rompdy discharge any&en which has priority over d`:�is Security Instrument un�ess 3oaower: (a)a�ecs in . . ' � `...`:;;��';. �
<br /> writing w the pay�znt of the obligation secured by the lien in a manner arceptabte tn Lender,(b)contests in good faith the lien •
<br /> , by, or defends agau�st enforce�:nt of the lien in, legal proceedings which in the Lended's opinion operate w prevent the ���:'�, � - � '
<br /> enfonzment of the lien;or(c)s�cures from the kolder of the lien an agrer,ment satisfas:my to Lender subordinating the liea to � � � r '
<br /> this Seauity Instrumen4 If Le:+flrr determines that any part of the Propeny is subject to a lian which may attain priority over this � �
<br /> Security Instrnmen�Lender may give Bortnwu a notice iden6fying the Gcn.Borrotivu shall satisfy t�s flicn or take onc or more ' �
<br /> �� � '•a::•::�.
<br /> � of the actions set fc�ri.h above within 10 days of the giving of no6ce. • �-
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