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<br /> . 'POGETFffR WITH all the improvemeutc now or hereafter erected on the �ty,an easements,appurtenances,and �..
<br /> � `< fuwres now or hereaftrs a part of the propcny.Atl ceplacements and additions sl�tl also be coveied by this Secuaity Instnunent ` '__ '
<br /> All of the fongoing is refeircd w ia this Senuity Instrument ac the"Property." � . . •
<br /> . BORROWER COVENANI'S that Bosower is tawfulty seised of the estate hereby canveyed and has the right to grant and ,.• - • -`
<br /> - .---�—� wnvey the Prope:ty and that the pcoperty is unenenmbeaed.excepi for eacumbrances of record Bormwer warrants and will - , • �. - '
<br /> ' defend generally the tiQe to the Property against all claims and deanands,subject w any encumbrances of record. � ,
<br /> � t TMS SECLJRITY IIVSTRUIV�NT wmbines uniforai covenants for aational use and non-uniform covenants with limited ��. ,, -'L `' �'`.'`'
<br /> - � ' variauaas by jnrisdiaion tn consrimte a uniform security msuurnent coverinS�P�P�I+• ::..,`-.--`::�,: °
<br /> . � � UMFORM COVENAN7'S.Bmrower and Leuder covea�ant aad agme as follows. � ,. � '` .
<br /> � 1.P a y m e n t o!P r i a c c p a l a n d I n t e r e s t;P r e Q a y m e n t a n d L a t e C h a r g e s. B a i ro w e r s h a ll p m m p t l y p a y w h e n d u e t h e ; �
<br /> �;� principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. � • � � • '
<br /> . i 2.Funds for Taxes and Insvrance. Subject to applicable 1aw or w a wriuen waiver by Lcmdcx, Borrower shall pay ro 5 - - •,,L`
<br /> � Lendcr oa the day raonthty payments are due under the Note,unt7 the Note is paid in full,a sum("Funds")for:(a)yearly taues ; . . � . 'W'�<:':<,
<br /> ' and assessments whicb ma auain rio over this Sec Instrumeat as a lien on the Pro sarl leasehold ents � � ' ��'�~
<br /> , � Y P mY �Y P�Y:�)Y Y Pal+m � .. ..
<br /> • or ground ients on the Pcoperty,if any,(c)Yearly har�rd or propext}r insurance premiums:(d)Yearly f�ood ins�uartce piea�,if . 'I.�:^.
<br /> • , anY;(e)Yearly mortgage inswance premiums,if any;and (�any sums payabte by Borrower to L.ender,in accordance witt►ihe , � '�,�;�''�'
<br /> • provisiong of parag�aph �. in lieu of the payme�t of mortgage ins�uance premiums.'Ihese items are cal2ed "Escmw Items." ' _ � :..
<br /> •� Lender may,at any time,colleci and hold Funds in an amount not w eaceed the ma�cimum amount a lender far a federally reiated .� : ;`�,?3%�°:
<br /> mortgage loan may require for Bosrower's esccow account under the federal Real E.state Seulement Pmcedures Act of 1974 as `��t`4��°°-
<br /> .,:):��,�,��:1
<br /> amended fram time to pme, 12 U.S.C.Se�.�tion 2601 et seq. ("RFSPA'�,unIess another law that applies to the Fands sets a lesse�r '. : '":"`, .��
<br /> t amount If so, Lender may,at any time,collect aad hotd Funds in an amount aot to exceed the lesser amoua� Leader may :{_�+�' � '. ;:.`�?°���
<br /> ' � . estimate the amoant of Funds due on the basis of current data and reasonable estimates of ea endiWres of fupue Escraw Items or � �'T
<br /> P 'r.,- .�--
<br /> � ! otheiwise in accordance with applica6le taw. ` ,:`+.,�.:,r;�`.__-
<br /> • , . � The Funds shall be hetd in an instiwtion whose deposiu are insured by a fede�al aB��Y•��Y•��5+(���g � :_ ��.`•"�""'•,`
<br /> I.ender,if l.ender is such an instiwtion}or in any Federal Home Loan Bank Lender shall apply ihe Funds to pay the Esaow �� ,'� —
<br /> ! Items.Leader may not charge Borrower for holding and applying the Funds,annusilly analyzing the escrow accouat,or verifying --
<br /> . i the Escrow Items,unless Lendc:r pays Borrower interest oa ihe Fuads and applicable 1aw permits I.endea w maIce sucd a charge. � �.. �K:�:`
<br /> ' � , i However.l.a�der may require Borrower to pay a one-tune cdarge for an independeat real estate tax reporung seavice used by � �: _�, •��`-?��=-
<br /> J Lender in connection with this loan,unless applirdble law provides otheawise.Unless an agreemeat is ma+de or appHcable Iaw . %,���;�<�..-�;_
<br /> �.;. .�.:;_
<br /> � requires interest w be paid,L.ender shall nat be required ta pay Horrower any inuxest or eamings on the Funds.Borrowea and � . y,,,,,�.
<br /> •_ f Lender may agree in writing,however,that interest shall be paid on the Funds.Lender shall give to Boaower,without charge.an . '��'-::;�
<br /> � annual accounting of the Fusids,showing credits and debits to the Funds and the purpose for which each debit to the Funds was ,_ �:'•"�-
<br /> . made.The Funds are pledged as addi6onal secarity for all sums sec�ued by this Security Inswmeat . ':�,.:-�.,�,.�:
<br /> � If the Funds hetd by I.ender eaceed the amaunts permiucd to be held by applicabte law,Lende,r shaU account to Borrower for � � � �'��a
<br /> :�.'�.;:F._
<br /> ; • the excess Funds in accordance with the requirements of applicable law.If the amount of the Funds held by Lender at any time is . • � :� +;.::��
<br /> . not sufficient to pay the Escrow Items ahen due,Lender may so notiffy Borrawer in writing,and.in such case Borrower shall pay . , :;.-�'��%
<br /> .. � , to Lcnder the amount ncxessary tn make up the deficiency. Borrower shall make up the deficiency in no more�haz� tarelve . ; � � � �r�
<br /> . • monihly payments.at Lender's sole discretion. ,.. .:�;�:
<br /> � Upon paymcnt in full of aU svms sec�tted by[his Sc�uriry Insuument,Lendcr shall prompdy refund to Boaawer any Funds � • . . � • : �'a .
<br /> held by Lendcx. If.under paragraph 21,Lendcr shall acquire or scll thc Property,Lcnder,prior to fhe acquisition or sale of thc ;_ : � �,:."'��, `
<br /> ' property,shall apply any Funds held by Lcnder at the time af acquisi6on or sale as a credit against the sums secured by this ' _ ° •
<br /> . Sccurity InstrumenL " .
<br />'.+: j 3.App6catian of Paymeata Unless applicable taw provides otherwise.all payments received by Lender under paragraphs . � •
<br /> • �- f l and 2 shall be applied: first,to any prepayment chargcs due undcr the Note;svcond,to amounts payable under Daragraph 2; ` '
<br /> ' ,) third,to interest dne:fourth,to principal due;and last,to any late charges due under thc Note. ' ,
<br /> , , 4.Charges;LIens. Borrowcr shall pay all taxes,assessmcnts,charges, fines and impositions aun'butable to thc Property : � -.
<br /> � whicb may attain priority over ihis Serurity Instrumenl.and leasehold payments or groand rents.if any.Borrower shall pay these • .
<br /> � obligaaons in the manncr provided in paragraph 2.or if not paid in that manner.Boaower shall pay thcm en time d'uectly to thc �
<br /> • ` � person owed paymem. Borrowcr shalt prompdy fumish to Lendcr all notices oi amounts to be paid nnder ihis paragraph. If � ` . � •
<br /> '' Borrowcr makcs thcsc payments d'uccdy,Borrawcr shall prompfly fumish to Lender rcccipts evidcncing thc payments. ' '
<br /> ' ' Boaowcr shall prompily discharge any Gcn which has priority ovcr this Security Inswmcnt tmIcss Borrowcr. (a)agrces in •
<br /> � writing to thc paymcnt of thc obligation sccurcd by thc licn in a manncr acccptablc to Lcndcr;(6)wntcsts in gaod faith thc licn >� . . �� �
<br /> i by. or defends against enforcement of lhe lien in, legal praceedings which in the Lender's opinion operate to prevent the . . ,
<br /> � • i enforcement of the lien;or(c)secures from the hotder of�he lien an agreemem satisfactory to Lender subordinaung the lien to �
<br /> this Sccurity Instrumcnt If Lcnder dctermincs that any part of thc Property is subject to a Gcn which may attain priorlty ovcr this
<br /> " � Sccurity lnstrumcnt,Lender may give Borrower a notice idcntifying the licn.Borrower shall satisfy thc lien or takc one or marc ,
<br /> � of the actions sct forth abovc within 10 days of thc giving of noticc. . _� '
<br /> ' . „ Form 3028 9190 , :
<br /> • �-8R(NE�i9z�2�.o� aapoaoie i�inais: f . .
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