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<br /> . ' '�pGETHER WITH a11 the improvements now or hereafter erected on the Qroperty.and al�easemcnts,appurtenances.and �� ' _
<br /> • '` fixnues now or hereafter a part of the pmperty. A1l replacemeats and additions shall alsa be �rovered by this Security , ' �• �
<br /> `�` c � . - ]nstnunent. Aq af the foregoing is referred to in this Security Instrument as the'Pmperiy." � ::�.;,,,_�,.',_:ti, .' -
<br /> -;��° BORROWER CbVENANTS tha�Borrower is IawfuUy seised of the estate hereby c4nveyed and has the right to grant and ,,�.� , _
<br /> .. ���:,. .
<br /> _ ,�-.�
<br /> • • oonvey the Property and that the Property is unencumbered. except far encumbrances of record. Bocrower warmnts and wiil
<br /> _ - - defcnd geaerally the title to the PropertY against all claims and demands.subject to any encumbrances of rewrd. _ -
<br /> THiS SECURITY MSTRUMENT combines uniform rnvenants for national use and nan-uniform covenan�i with timited �,
<br /> ' variations 6y jurisdiction to amstitute a uniform security ins�rum�m rnvering real property. ' �� �:�°�
<br /> � ; UN�ORM WVENANTS.Barrower and Ixnder covenant and agree as follows: `. <� :
<br /> -- ... ... t �:'' 1. Payment of Prittcipal and Interest: PcePayment and Late Ctiarges. Borrower shall promptly pay when due the :t. t ��n._
<br /> ' ` principal of and interest on the debt evidenced by tAe Note and any prepayment and late charges due under the Note. _ __
<br /> �r ..� � ' 2. Funds for Taxes and lasurauce.Suhject to applicable law or to a written waiver by I..ender. Borrower shalt pay to : ` i -
<br />. � : ,; Lender on the day monthly payments aze due under the Note,until the Note is paid in fuli,a sum("Funds")for:(a)year�y taxes .� •.`: '•:,-�` _
<br /> � and assessments which may attain priority over this Security I�sttument as a tien on the Property:(b)Year1Y leasehold payments : ' Y�4_
<br /> hazard or ro msurance remiums:fd)YeaT1Y flaod insurance premiums. � ,..•..
<br /> ; .'� or ground renu on the Property.if any:(c)Yearly P PertY� P � `a" �
<br /> . �. ` - if any: (e)yearly mortgage insuiance premiums. if any:and(tl any snms paYable by Borrower to I.ender, in accardance witl► -
<br /> ;;; ' ,:<; ,
<br /> ,;. . . . . the provisions of paragcaph 8, in lieu of the payment of mortgage insurance premiums.'fhese items ar�calted"Escrow Ttems." :�•
<br /> - • ' � . Lender may, at any time, collect and hold Funds in an amount not to exceed the asaximum amount a lendei for a federatty .' '�� (•
<br /> � ' - related mortgage loan may tequire for Borrower's escrow accaunt under the federal Real Estace Settlement Procedunes AcR of ; .�
<br />.��=�.` �._ ' , ` 1974 as amended from time ta rime. 12 U.S.C. Section 2601 et seq. ("RESPA"), unless another law that applies to[he Funds ; -- �._�
<br /> � � ,.,'t�, s e ts a l e s s er amouat. If so. Lender may,at any time. collect and hold Funds in an amount not to ezceed the lesser amount. =
<br /> .. •�,�.—
<br /> , �;�': Lender may estimate the amount of Fuads due on the basis of current data and reasonable estimates of expenditures o f fi rt ure : '� �
<br /> � _ i Bscrow Items or otherwise in accordance with aPpiicable Iaw. ' .;�:��;�,'.;'_=
<br /> '' � The Funds shall bz held in an institution whose deposits are insured by a federal agency. insmimentality. or entity , .�s,.. {"•y;__
<br />_;,,t - � i..-21'!.�-,
<br /> ' - • � (includ"mg Lender,if Lender is such an institution)or in any Federal Home Loan Bank.Lender shall apply the Funds to pay the i .f , _ __
<br /> , • •,� Escrow Items.Lender may not chazge Bomnwer for holding and applying the Funds.annually analYzing the escrow account.or ;��
<br /> ��f verifying the Escrow Items.unless Lender pays Borrower interest on t he Fun c i s an d a p plicable law pemiiu Lender to make such � `� r�
<br /> �•. � • . .,s-----
<br />.�.' • � ` a chargc. However.L.ender may require Borrowec to pay a ane-time charge for asi independent real estate tax reporting service � ,:' .�,_,r�
<br /> >�,-'...::_•. ; '. ' . used by Lender in connection with this loan. unless applicable law provides otherwise. IInless an agreement is made or �' :i �
<br /> . �. � . applicable law requires interest to be paid.I.ender shall not 6e rcquired to pay Borrower any interest or earnings on the Funds. i�.`.� ': i__�
<br /> � Borrower and Lender may agrec in writing.however.that interest shall be paid on the Funds. Lender shall give to Borrower. i .;�;•__
<br /> ' � without charge,an annual accounting of the Funds, showing credits and debiu to the Funds and the purpose for which eacb ��s_
<br /> � � � debit to the�unds was made.The Funds are pledged as additional security for all sums secured by this Security Instnrment. i,. . '_�"'
<br /> ` � =---�� ��-� -- If the Funds held by l.ender eaceed the amounts permitte�to be held by applicable law,Lendzr shall account to Bonower i ��_,
<br /> for the excess Funds in accordance with the rec{uirements of applicabte taw.If the amount of the�unds heid by Lender at a»y {�• �.• _
<br /> _ � . . ��-'-
<br /> ' time is not sufficient to pay the Escrow Items when due.Lender may so notify Borrower in writing,and.in such case Botrower ;r �� ���
<br /> � � shali pay to Lender the amount necessary to inake up the deficiency. Bonower shall make up the deficiency in no more than , :��• ,{�.
<br /> '''� ' ' twelve monthly payments.at L.ender s sole discretion. � :y a
<br /> . � .� Upon payment in full of all sums secwec!by this Security lnstrument. Lender shall promptly refund to Boaower any , I,.._.�_
<br /> = Funds held by Lender.If.under paragraph 2l.Lender shall acquire or sell the Property,Ler►der.prior to the acquisition or sate ° .. :: .,.: __
<br /> .F..'' . .. � , '_
<br /> �:••. .` : of the Property,shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by � -
<br /> ' ' this Security Inswment. . . . ____
<br />- ' . 3,Application oi Payments.Unless applicabte la�v provides otherwise,ali payments received by Lender under paragraphs ,,. :..
<br /> , �• � . ': 1 and 2 shali be applied: first.to any prepayment charges due under the IVote:secand.to amounts payable under paragraph Z;
<br /> '''�• � third.to imerest due:faurth.to principal due:and last,to any late efiarges due under the Note. . .
<br /> . � � . 4.Charges; Liens. Borrower�hall Qay aU taxes,assessments.charges. 6nes and impositions attributable to the Property �,, .,
<br /> � ,�.. �; � which may attain priority over this Security Inurument, and leasehald payments or ground rents, if any. Banower shall pay 11 �. .
<br /> . � � these obligations in the manner provided in paragraph 2,or if not paid in that manner,Borrower shall pay them on time directly
<br /> . ' to the person owed payment. Bonowcr shall promptly fumish ta Lendcr all notices of amounts to be paid under this paragraph.
<br /> � � if Borrower makes these paymenta directly.Borrower shatt prompNy fumish to l.ender receipts evidencing the payments. , ,�; ._ _.
<br /> � � i Borrower shall promptly discharge any lien which has prioriry over this Security Tnstrument unless Borrower:(a)agrees in •
<br /> .�.�;' writing to the payment of the obligation secured by the lien in a manner acceptable to I.ender;(b)contests in good failh the lien ,
<br /> , . . . ; by, or defends against enforcement of the lien in, legal praceedings which in the L.ender's opinion operate to prevent the .
<br /> • enforcement of the lien;ar(c)secures fr��m the holdcr of the lien an agreement satisiactory ta Lender subordinating the lien to .,
<br /> ' ' ; this Security instrument. If Lender determines that any part of the Property i�subject to a lien which may attain priority over
<br /> `i�� �i this Security Instrument. Lender may give Borrower a notice identifying the lien. Borrowcr shall satisfy the lien ar take one or .
<br /> � mare of the actions�et fonh above within 10 days of the giving of notice. _
<br /> Form 3028 9/8Q
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