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<br />` + • ` • now or hereafter erected on the propercy.and all easeme��aPPu�G�° .�., - Y , . .
<br /> . TOGE"FHER WffN a11 the�mProvements , � �,
<br />- fixtures now or henafter a part of the property. All repiacemenu and additions shall a lsu be rnver e d by t h i s S e c u r i ry
<br /> � " • � ` lnstrument_ Al!of the foregoing is referned to in this Security Instrument as the°Pr°PertY•� . �
<br /> � ` BORROWER COVENAI�t'i'S that Borrower is lawfully seised of the estate hereby conveyed and ha�t he right to gtant and . :<'_< _�'�;
<br /> `' "'-'�' ` rnnvey the Property and that the ProPerry �s unencumbered, except for encumbrances of record. Borrower warrants and a�iU ` � .� ._
<br /> � defend generally the title to the Property agaiiut all claims and demands,subject to any encumbrances of record. _
<br /> - .`- _� �`..� THIS SECURITY INS'I'RUMENT conibines unifomt rnvenants for national use and non-uniform covenants with limited __��',, �'';:
<br /> - ' • - variatioiu by jurisdiction to canstitute a uniform security inscnunenc covering real property. , .,
<br /> � ` UNIFORM COVENANTS.Barcower and Lender co�renant and agree as follows:
<br /> 1. Paymeat oi Priucipal and Intemst: PrepaYment aud Late Charges. Borrower shail pmmptiy pay when due the �
<br /> - � �. = principal af and interest on the debt evidenced hy tlie Note and any prepayment and tate charges due under the Note. ,.i
<br /> 2.Fundg for Taxes aud lasnr'an'ce- Subject to applicable law or to a written waiver by Lender, Borrower shall pay to
<br /> , �, � Lender on the day monthly payments ate dae under the Note,unul the Nare is paid in fiill,a sum("Fuads")for:(a)yearly taaes �,a• ' . ..;
<br /> � . ' ' �.'�' and assessments which may attain priority over this Security Inscrument as a lien on the Property;(b)yearlY leasehotd payments ' y �=�; ,.'�;
<br /> flnod insurance nmiums. ` ; . ,�`-�,��
<br /> ... ,� or ground rents on the Pro�perry.if any:(�)Ye�Y h��or property insurance premiums;ld)y�1Y p ,�:4.�;
<br /> ; , ' '�'.�,�� if any:fe)yearly mortgage insurance pr�miums.if any:and tfl�Y sums payable by Borrower to L.ender.in accordance with _
<br /> -� - the provisions of paragraph 8. in lieu of the payment of mor[gage insurance premiums•These�tems are�1�"��Ow Iteros." --
<br /> , ,' I.ender may, at any time,collect and hotd Fund� in an amount not to exceed the maximum amount a lender for a federaliy �m
<br /> � related mortgage loan may require for Borrower's escrow account under the federal Real Fstate Settlement Procedures Aa of •�s�_�
<br /> , 1974 as amended from time to time, 12 U.S.C. Section '_'601 et•seq. ("RESPA").unless another law that applies to the Fands ; ` ;s. ---
<br /> t - `` �,� sets a lesser amount.If so. L.ender may. at any Nme, coll.ct and hold Funds in an amount not to exceed the lesser amount. :» :. ,
<br /> . .(.•. _(':�_.�;��
<br /> Lender may estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of fnture � �s,s..
<br /> � Escrow Items or otherwise in accordance with applicable law. c ��`�"��
<br /> � " The Funds shall be held in an instituuon whose deposits are insured by a federal agency, instrumentality. or enuty � . �';���=.���..;:;
<br /> : .: '� �y'-• -�=
<br /> ' � ` • •.� (including Lender,if Lender is such an institution)or in any Federal Home Loan Bank.I.ender shall apply the Funds to pay the .�s:,;�--«.
<br /> ��.. .... _', . . .:.p..... , � ���'-
<br /> � � - Escrow Items.L.ender may not charge Borrower for hold'mg and applying the Funds,annnalty analYzing the escrow account,or �.
<br /> verifying the Escrow Items.unless Lender pays Borrower interest on the Funds and applicable!aw permits Lender to make such : �-,,,.�,.,�:�•
<br /> � � a charge. However,Lender may require Borrower to pay a one time charge for an independent real estate tax reporting service , i�'"�"�'�±
<br /> - used by l.ender in connection with this 1oan. unless applicable law provides otherwise. Unless an agreement is made or �-:�
<br /> „' '{`�f_
<br /> , applica6le law requires interest to be paicl.Lender shall not be required to pay Borrower any interest or eamings on the Funds. � _—_
<br /> � ^ �w^:;
<br /> Borrower and I.ender may agree in writing, however,that interest shall be paid on the Funds. Lender shall give to Borrower, �,� , ���.
<br /> . ' without charge. an annual accounting of the Funds, showing credits and debits to the Funds and the purpose for whith each , �
<br /> debit to the Funds was made.The Funds are pledged as additional security for aU sums secured by this Security Instrument. ,,. �:',-'��
<br /> � � If the Funds heid by Lertder exceed the amounts permitted to be held by applicable law.Lender shall account to Borrower .,.i,�s;
<br /> � � -- for the excess Funds in accordance witb the requirements of applicable law. If the amount of the Funds held by Lender at any {��,,,T.
<br /> time is not sufficient to pay the Esccow Items when due.Lender may sa notify Bonower in writing,and.in such case Borrower 4;,�.v'
<br /> y . .
<br /> shall pay to I.ender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than . . �,,_,_,
<br /> ' � twelve monihly payments,at Lender's sole discretion. �'�.
<br /> Upan payment in full of all sums secured by this Securiry Instrument. Lender shall pramptly refund ta Borrower any , �{__�-
<br /> `' � •• Funds held by Lender. If.under paragraph 21. Lender shall acc;uire or sell the Property,Lender,prior to the acquisition or sale .�_
<br /> � o f t he Property. s h a ll ap pl y an y Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by � : �
<br /> .�� � this Security Instrument. •
<br /> . . 3.Appt�cation of Payments.Unless applicable law provides othenvise,all payments received by Lender under paragraphs .__ __
<br /> `.'. , 1 and 2 shall be applied: first, to any prepayment charges due under the Note: secand,to amounu payable under paragraph 2;
<br /> ` ' ' third,to intere.st due:fourth,to princiQal due:and last,to any late charges due under the Note. ; _ ,
<br /> . ' 4.Charges;Liens.Borrower shall pay all taxes,assessments,chnrges. fines and impositions attributable to the Property . -.-
<br /> - � which m�y attain priority over this Security Instrument, :u�d l�asehold payments or ground rents, if any. Bortawer shal!pay
<br /> • these obligations in the manner provided in paragraph 2.or if not Qaid in that manner,Borrowcr shafl p�y them on timc directly .
<br /> � to the person owed payment. Barrower shall promptly furni,h to Lcnder all notices of amounts to be paid under this para�raph. ,
<br /> � � If Bonower makes these paymentti directly.Borrower shatl pramptly fumish to Lender receipts evidencing the payments.
<br /> � Barrower shall promptly discharge any lien which has priority over this Security Instrument unless Banower:(a)agrees in
<br /> _•+,� � . writing to the payment of the obligation.ecured by the lien in a manner acceptable to L,ender:(b)cantests in good faith the lien . _
<br /> by. or defends against enforcement af thc licn in. Iegal proccedings which in the Lender'� opinion operate to prevent the ,
<br /> � enfarcement of the licn:ar(c)sceures from the hnlder of the lien an agreement satisfactory to Lender subordinating the lien to
<br /> this Security Instrument. If Lender determines that any part of�he Property is subject to a lien which may attain priority over , •
<br /> this Security Instrument.Lender may give Borrower a notice identifying the lien. Barrower shall satisfy the lien or take one or
<br /> • more of the actionti tiet forth above within 10 dayti��f the giving i�f nutice. � �
<br /> ,. . Fo�m 3028 9190 •
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