|
�,•
<br /> ----------...._.. . . . . ---•--•---- --------- -
<br /> ,� .. .�
<br /> ,�.
<br /> � 97_ lo�S�o
<br /> ; 'TOCi�:THER 1VI'TH all the improvements now or hereafter erected an the property, nnd nll ca�amentA,
<br /> appurtenancea,end tixtures now or hereufter a part of the property.All replacements and additione ahall al�o be covered ,�
<br /> i by this Security Instrurnent.All of the foregoing is referred to in this Securitylnstrument ea the "Property."
<br /> BORROWER COVENANTS that I3orrower ia lawfully seised of the estate hernUy conv�ycd and I�as thc right to
<br /> i grant and convey the Property and that the Property is unencumbered,except 4or encumbrances of record. I3arrower
<br /> , �varrants and will detend generally the title to the Property against all claims end demands,subject to any encumbrances „
<br /> J of record.
<br /> THIS SECURITY INSTRUMENT combines uniform covenants for national use and nan-uniform covenante with
<br /> I limited veriations by jurisdiction to constitute a unifarm security instrumentcovering real property.
<br /> 1 UNIPORM COVE�NANTS.Sorro�ver and Lender covenant and agree gto�lows: P a when due �
<br /> � 1.Payment otPrincipal aud Interest;Prepaymcnt and I.ate Char es_ Borrower shall prom tly p y
<br /> the principal of and interest on the debt evidenced by the Note and any prepaym ent and!ate charges due under the Note. �
<br /> 2. Funds for Ta xes and Insurance. Subject to applicable law or to a Nritten waiver by Lender, B�orrower shall .,; .;r�t:��..:_
<br /> pay to Lender on the day monthly payments are due under tha Note,until thei�Tote ia paid in full,a sum( Funde')for: ,_ -
<br /> (a)yearly taxea and xssessments which may attain priority aver thie Security Inetrument as s lien on the Property; (b) '__
<br /> yearly leasehold payments or ground rents on the Property,if any; (c)yearly hazard or property ineurance pramiume; �,jr,_
<br /> (d)yearly flaod insur�nce premiumF,if any; (e)yearly mortgaga inaurance prerniuma,if any; and (f)any sums payable ',,.;:_
<br /> by Borrower to Lender,in accordance with the provieions of paragraph 8, in lieu of the payment of mortgaga insurance ,�
<br /> premiume.These items are called"Escrow Iteme."Lender may,at any tirne,collect and hold Funds in an amount not
<br /> to exceed the maximum amount a lander for a federally related mortgage loen may require for Borrower's escrow
<br /> account under the tederal Real Estate Settlement Procedures Act of 1974 as amended from time to timo, 12 U.S.C.
<br /> � Section 2b01 et seq.���k�PA��),unless another law that appliea to the Funds sets a leaser amount.If so, Lender may, •
<br /> �� at any time, collect and hold Funds in an amount not to exceed the leaser amor�nt. Lender may estimata the amount oP �',__�
<br /> Funds due on the basi s of current data and reasonable estimates of expenditures of future Escrow Itema or otherwise in ..`�,`.�
<br /> ' accordance with applicable law. ';:==
<br /> The Funds shell be held in an institution whose deposits are insured bya federal agency, inetrumentality,or entity �..4_:
<br /> � (including Lender,it Lender is such an inatitution)or in e,iy Federal Home Losn Bank.Lender ahall apply the Punds to 7,�''' S__
<br /> ' � pay the Escrow Items.Lender may not charge Borrower for holding and epplying the Funda,annually analyzing the � , ,
<br /> - -- a;cro�s�.aunt,a•'•'er:!Ylno thP F�crow Items,unless I.,ender pays Borrower interest on the Punda and appliceble law
<br /> permite Lender to make such a charge. However, Lender may require Borrower to pay a oAe�time char�n iuC� 6i�
<br /> � independent real estate tax reporting service used by Lender in connection with this loan,unless applicable law provides '_
<br /> otherwise.Unless an agteement ie made or applicable law requires interest to be paid, Lender shall not be required to :
<br /> • pay Borrower any interest or earninga on the Funds.Borrower and I,ender me►y agree in writing, however,that interest , `'
<br /> .. � ehall be paid on the Funds.Lender shall give to Borcower,without charge,en annual accounting of tha Funda.ehowing �';j '_
<br /> credits and debits to tha Funds and the purpose for which each debit to the Aunds was made. The Funde ara pledged as •T
<br /> '�' I additional securitytor all aume secured by thie Security Instrument. �
<br />- If tha Funds held by Lender exceed the amounta permitted to be held by epplicable law,Lender ehall account ta
<br /> � - Borrower for the ezcess Funds in accordance with the requirements of applicable laN. If the amount of the Funda held
<br /> � by Lender at any time is not sufficient to pay the Escrow Items when due,Lender may so notify Borrower in writing, _
<br />- x' � and,in such cese Borrower shall pay to Lander tha amount necessary to rnek�up the deficiency. Bonower shall make
<br /> �i � up the deficiency in no more than twelve monthly paymente,at Lender's sole discretion.
<br /> j"� Upon payment in full of all sums secured by this Security Instrument,I.pnder shall promptly refund to Borrower � ��%
<br />�• '� �`'� any Funds held by Lender. If, under paragreph 21, Lendar shall acquire ar sell the Property. Lender. prior to the �__ —
<br />— � , �-� ���.
<br />_-.,
<br /> y. acquieition or sale of the Property,shall apply any Funds held by Lender et tha tima of acquisltion or salo cse a credit
<br /> against the aums secured by this Security Inetrument. �� --- -
<br /> .,,.,'�� 3. AQp1lc�tion oi Peyments.Unless applicable law provides otherwise,all payments received by Lender under � — _
<br /> �:-' puragraphs 1 and 2 chall be applied: tirst,to any prepaymcsn�chargcs d�c eade:the�?ote;��^.^.�,t^emqimta nayable � _ �
<br /> under patagraph 2;ttaird,to interest due;fourth,to principal due;and last. toany lata charges due under the Nats. � � _
<br /> ` ,'� 4. Chargos;Liens. Borrower shall pay all taxes,assessmente, charges, fines and impositiona attributable to the 1 -
<br />_ P r o p e rt y w h i c h ms y ettain priority over this Security Inetrument, end leasehold payments or ground rente, if any. �.���__
<br /> .:.., � � .,;_.v
<br /> ' Borrower shall pay these obligations in the manner provided in puragraph 2. or if not pai d in t h a t m a n n e r, B o r r o w e r ,; __
<br /> - - '� ehnll pay them on tirne directly to the person owed puyment.Borrower shell promptly furniah to Lender all notices of ,'_,` I -4,
<br /> ' amounts to be paid under this paragraph.If Borrower makes these payments directly, Borrower shall prnmptly furnish _ _ _ ..
<br /> ta Lender receiptaevidencing the paymenta. ••
<br /> '� Bonower shall promptly dischRrge any lien which has priority over this Security Instrument unles.s Borrower: (a) µ.�;:��
<br /> ` ' agrees in writing to tha payment of the obligation secured by the lien in a manner acceptabls to Lender; (b) contests in . •.�_,�..�
<br /> .� ,.
<br /> ' good faith the lien by,or defenda against enforcement of the lien in,legel proceeclings which in the Lender'e opinion '�;'=�;�;;���;�=�-•
<br /> ' operata to prevent tha enforcement of the lien;or(c)secures from the holder of the lion an agreement eatisfactory to -.�.�f; .
<br /> Lender subordineting the lien to this Security Instrument.If Lender determines that any part of the Property is aubject f•,
<br /> - to a lien which may attain priority over this Security Instrument,Lender m ay give Borrower a notice identi4ying the ,
<br /> lien. Borrower shell satiefy the lien or take one or more of the actions set torth above within 10 days of the giving of ,
<br /> notice. �
<br /> Form 30Zi 9/90 �
<br /> �-6AINE1�9�+�xo� n.o.:or a innlaie��� �
<br /> - :— � - • -
<br /> _ _ � -. •� -�---------:._�-..-. ....:. .. .. . : . ....--••---,-, . _
<br />— . .. . . „ ... - .. „ � „ • �-.� : , �
<br /> _ ,�
<br /> __ ,
<br /> " __.1
<br /> � _ _ - - -
<br />
|