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<br /> �,�. - 98- �t����� � �u� . . .
<br /> - `� -- TOGEI'�It WiTH a11 tt►e improvements now or hereafter ecected on the propsrty,and all easements.appunenances.and . ; ' . .
<br /> �.�� `� fixtuns now or hereafter a part of the pmperty. All replarements and additions shall also be covered by th'ss Secwiry .
<br /> '� fnsunaieat.All of the foregoing is refetred[o in this Security instnun�nt as the'Property.' • � �,t ..a
<br /> ` �' BORitOWER COVENANfS that Borrower is lawfully seised of the estate hereby coaveyed and has the right to grant and . .
<br /> : • convey the Propercy and that the Property is unencvmbered,except for eucumbrances of cecord. Borrower warrants and wil! .` . , :
<br /> ' , .� defend generally the ade to the Property against all claims and demands,subject to any encumbrances of record. .- ._ .' �_k.
<br /> �� THtS SECtJIt1TY INSTRIJMENf combines uaiform cavenants for national ase and non-uniform covenants with limited __ ---- ,-.-- `.-
<br /> • .:. _ variations by jurisdiction to can..ninue a uniform se�urity insuument wvering real propert}r. .- ..
<br /> � � UNffORM COVENANTS.Botrower and L.eader covenam and agme as follows:
<br /> , • 1. Payment of Ftfnc[pat and Wteres� Frey�aYment and Late CLarges. Borruwer shall pmmpdy pay whea due the ; - � ��
<br /> - principal of and interesc on the debt evidenced by the Note and ar►Y P�P�ent and late cUarges due under the Note. . _`.r��z
<br /> �� 2. Fundg for Taxes and Insarance.Subjecc to applirable law or to a written waiver by I.ender, Bornower shall pay to ,� .
<br /> � . • I.ender on the day montlilY PaYtneIIts are due under the Note,unril the Note is paid ia full,a sum(°Funds")far.(a)Yearly taxes � . �,;` ;� .
<br /> � �d assessments which may attain priority over this Securiry Instrument as a lien on the Property;(b)yearly leaschold payments � :'�'"��`
<br /> , . or ground rents on the Property,if a�r;(c)Yeu3Y hazar�d or PmPertY insurance Premivms;(d)Yearly Aood incnranrn premiums, . �.:::.•,z:_�
<br /> � - if any; (e)Yeaziy mongage insurauce premiums>if any;and(�anY sums PaYabie by Borrower to Leuder, ia aocordance arith _. �. �_-.._._�_
<br /> the provisions of paragraph 8. m lieu of the payment o f mortgage I n s u r a n c e premiums.7 7 iesc i t e m s az e c a l l e d'F s c ro w I t e m s.° '�''-_�
<br /> � � I,ender may, at any time, collect and hold Funds in aa amount not to e�d t he maaimum amo u n t a l e n d e r f o r a f e d erall y . . '`• _
<br /> • . relazed mortgage loan may:equire for Borrower's escrow account under the federai Real Fstate Setttemem Procedures Act of - ' -,-�-�
<br /> � . _ 1974 as ameaded from time to time, 12 U.S.C.Secxion 2601 et seq. ('RESPA'),unless another law that applies to the Fimds �� � , °._,,�..�':.�
<br /> - ' � sets a tes�er amomu.If so,I.�nder may,at aay time. coltect and hold Funds in an amount not w exceed the lesser amount. <. .:�,-s_-
<br /> •-�• Lender may estimate the amount of Fuads due on the basis of current data and reasonable estimates of expenditu�s of future -����--�`� `" ��.
<br /> � Fscrow Items or oth�rwise in accordance wit1�applicable laar. .���
<br /> �, �:�.—
<br /> The Funds shall be held in an institution whose depasits aze insured by a federal agency, instmmeatality. or endry • . � � -_-_
<br /> �; . ��-��
<br /> (including Lender,if l.ender is such an institution)or in any Federal Home Loaa Bank.Lender shaU apply the Funds to pay ttte � `�=�';:r;�.�,,;��
<br /> J • Escmw Items.Lender not charge Borrower for holdin and tyiag the F�mds,a�muall analyzing the escrow account,or ��=� :���'�'
<br /> . . _ may g aPP Y �.���:� �s�
<br /> . � verifying the Escrow Items,unless L�eader pays Borrower interest on the Funds and applicable law permits I.ender to malce svch • :. �
<br /> - v e r I.e n d e r ' e Borrower to a a one-time charge far an iadependent seal estate tax reporting setvice '��>--,r'''��;
<br /> a charge.Howe , maY reciuu P Y
<br /> used hy Lender in connection arith this toan. unless applicable law provides otheravise. Unless an agreement is made or `: ..`'�'`''�'�
<br /> ` • applIcable!aw requires interest to be paid,Lender shall not be requined co pay Borrower a�+interesc or eamings on t6e Funds. .�• - ' !�-'�'"�"�'`
<br /> • Borrower and Lender may agee in writing,however,that interesc shall be paid on the Funds. Lender shall gtve to Bomower. ..: � '�I:�;�;�:=.
<br /> � . without charge. an annual accounting of the Funds,showing credits and debits to the Funds and the purpose for which eactr �'�="'�:,��
<br /> . ;�.�..:::��:..
<br /> :� debis to the Funds was made.The F�mds are pledged as additional security for all sums secured by this Serurity Insm�ment. . �_
<br /> � ` ,'i If the�unds held by Lander exceed the amounu permitted to be held by applicable law,Lander shall acoouat to Borrower � . "
<br /> � in aceo r d a n c e wi t h t he iremen u o f l i c a b 2 e t a w. I f t h e a m p u n t o f t h e F u n d s h e l d b y I�e n d e r a t a n y �.: . : ���'���
<br /> . for the exsess Funds �N aPP � .:�f �
<br /> , time is not sufficient to pay the Escrow Items when due.Lender may so notify Borrower in arriting,and,in such case Borrovuer � • .±�-�1�`.;
<br /> •� � � ��% shall pay w l.ender the amouat necessary to maice the deficien Bosrower shall make the defccI in no more than
<br /> W �Y• uP �Y .,., '.�;`.�_,
<br /> twe1-•e monthly payments.at Lender's sote discrerion. ','.,. • :';�,=�P
<br /> .:,�.,.
<br /> � � Upon paymeut in full of all sums serured by this Security Instnunent, Lender shall pmmptly refund ro Boaower any . � �,�,�,__
<br /> � � Funds held by Leader.lf,under paragrapb 21.Lender shall acquire or sell the Property,Lender.prior to the acc�uisirion or sale --_
<br /> of the Property,sha11 a 1 any Fuads held b l.ender at the time of a �sition or sale as a credit ainst the sums seeured b -_:. ���-
<br /> . , . PP Y Y �N aB Y `.,.<:�,nr:
<br /> ' � ' this Secutiry Insaument. , �:=�`<:
<br /> � 3.Appltcadon oY Payments.Unless applicable law provides othera+ise,all paymenu received by Leader under paragraphs � � •r� •_ :
<br /> 1 and 2 shall be applied:fust,to any prepayment chazges due under the Note;second,to amounu payable under paragraph 2; '� .
<br /> � •�:� third,to interest due;founh,to principal due;and last.to any late charges dne under the Note. - . _. •:
<br /> ' 4.Charges;Liea9.Boaower shall pay a11 taxes,assessments,charges,fines and impositions anributable to the Properry . .
<br /> , , which may attaln priority over this Sec�rity Instrument, and leasehold paymenu or ground rents.if any. Borrower shall pay .
<br /> • ' ��.j these obligations in the manner provided in paragraph 2,or if not paid in that manner,Bonower shall pay them on time directly �� ,
<br /> !: � ' to the person owed payment.Boaower shall promptly fumish to Lender all notices of amounts to be paid under this paragraph.
<br /> �� lf Borrowez makes these payments d'uectly.Borrower sha11 prompdy fumish to Lender receipu evidencing[he payments. � '
<br /> • � Borr�o��er shall promptly dischazge any lien which has priority over this Securiry Instrument uNess Borrower:(a)agrees in . � , • ,
<br /> ' � '�� wridng to the payment of the obligation secured by the lien in a mam►er acceptable to Lender;(b)contests in gaod faitb the tien �
<br /> � " by, or defends against enforcement of the lien in, legal proceedings which in the Leader's opinion operate to prevent the .. '
<br /> enforcement of the lien:or(c)secnres from the holder of the lien an agreement satisfactory to Lender subordinating the lien to
<br /> this Sec�:ity [nstrument. lf Lender detern�ines that any part of the Property is subject to a lien which may attain prioriry over � .
<br /> ' this Security Instrument.Lender may give Borrower a notice identifying the lien.Bonower shall satisfy the lien or take one or _
<br /> " �s more of Ihe actions set fonh above witl:in 10 days of the giving of notice. � � � .
<br /> Form 3 0 � , .
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