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<br /> TO(3ETHSR WITH all the impsovement�naw or hereafter erected on the property,and all easements, appurtenances,fu�d �
<br /> � fiatures now or hereafter a part of the praperty. All replacements and addidons shall also be covered by this 5ecurity �''•"_
<br /> Instniment.All af the foreguiug iy referred ro in tuis Security lnstrument as the"Property." . .
<br /> . l BORROWSR COVSNANTS that Borrower ia lawfully seised of We estate ltereby conveyed and hes the right to grant�u�d . ,-�'j:,�:,
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<br /> - convey the Property aud that the Property is unencwnberc;d,except for encumbrances of record. Bonower watrants and will ` �; t:
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<br /> �•• defend generally the dde to the Property against all claims and demauds,subject to any ensuwbrances of record. ��-
<br /> � THIS SBCURITY INSTRUMBNT cambines un[fatm covenants for nadons►11 use and non-uniform covenants with llniitecl -.�.�.
<br /> varladons by jurisdicdon to consdtute a uuiform security insmiment covering real property. . ���`-
<br /> UIVIFORM COVENANTS.Borrower and Lender covenwt and agree as follows: �"_'�
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<br /> ' �� 1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall prompdy pay when due the ' -_- �
<br /> princ:Ipal of and interest on the debt evtdenced by the Note and any prepayment and late charges due under the Note.
<br /> �. ,� 2. Fund9 for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to
<br /> • Lender on the day monthly paycnents aze due under the Note,undl the Note is paid in full,a sum("Punds")for: (a)yearly taues —
<br /> � and assessments which may attain priority over this Security Insaument as a lien oa the Proparty;(b)Yeatly leasehold pa}rments , --
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<br /> j or g r ound mnts on the Properry. ' Y; Y Y P PertY� �`
<br /> tf an (c) earl hazard or ro in5urance premiums:(d)Yearly flood insurance preuuums.
<br /> if any; (e)yearly mortgage insurauce premiums, if any; and(� any sums paya b le by Borrower to L e n d c r, i n a r..c o r d a n*x v ri t h `.��_;_"'
<br /> : ; the provislons of paxagraph 8,in lieu of the paymeat of mortga�e ins�rance premlums.1'hese icems are called"Escrow Items." .,�^'�
<br /> � I.ender may, at any dme, collect and hold Funds in an amount not to eaceed the maximum an►ount a lender for a federally ' .'.,�
<br /> .. � related mortgage loan may require for Bonower's rscrow accaunt uxider the federal Real Sstate Settlemsnt Procedures Act of
<br /> ,.�a�� 1974 as amended&om rime to time� 12 U.S.C. Secdon 2601 et seq. ('RESPA"),unless another law that applies to the Funds
<br /> '^�?� sets a lesser amount. If so. Lender may, at auy dme, collezt and hold Punds in an amount not to exceed the lesser amount. :=� '
<br /> Lender may estimate ehe amount of Funds due on the basis of cunent data and reasonable estimntes of expemditures of future ��„m�
<br /> . Bscrow Items or otherwise in accardance wttli applicable law. — _
<br /> The Funds sball be held ln an insdcndon whose deposits ure insured by a federal agency, instrumentality, or entiCy __
<br /> ' (including L.ender,if Lender is such an institudon)or in any Pedetal Home Loan Bank.Lender shall apply the Fuads to pay the -
<br /> � BsGrow Items.Lender may not charge Bonower for holding and applyiag the Funds,annually analYaing tbe escrow accounc,or
<br /> _ verlfying the Bscrow Items. unless 1-ender pays�sorrower inceresi ou ii�e F:;�is auu applicahle L^.•��1mlt°L=�t rn g►ake�uch � �
<br /> a charge.However,Lender may require Borrower to pay a oae-time charge for an independent real estate tax repordng seivice ��� �,
<br /> used by Lender in connecdon wlth this loan, unless applicable law provides otherwise. Unless an agreement is made or �� _
<br /> applicable law cequires interest to be paid,Lender slutll not be required to pay Borrower any intertst ar eamings on the Funds. �,
<br /> ' Borrower and Lender may agc�e in writing,however, that interest shall be paid on the Funds. Lender shall give to Borrower.
<br /> without charge, an annual accowitin8 of the Funds, showing credIts and debits to the Punds and the purpose for which e2ch _
<br /> � debit to the Funds was made.'I�e Funds are pledged as addidonal securiry for all sums secured by this Securlty Instrument. ,;_
<br /> If the Funds held by L.ender exceed the am.ounts permitted w be held by applicable law.Lender stiall account to Bonower '�.-,
<br /> � for rhe excess Funds in accordance with the requirements of applicable law.If the amount of the Fuuds held by Lender at any
<br /> " tlme is not sufficient to pay the Bscrow Items when due,I.ender may so nodfy Borrower in wridng,and,in such case Donower -
<br />� shall pay to Lender the amount necessary to make up the deftcie�y. Boaower shall make up the defcciency in no more than ��
<br />- � • ,• � twelve monthly payments,at Lender's sole discredon.
<br />�- . �,.x*:�Y Upon payment in full of all sums secured by this Security Insmunent, Lender shall gmmptly refund w Borrower any
<br />::=r! ' Funds held by Lender.If,under paragcaph Zl,Lender shall acquire or sell the Property,I.ender,prlor to the ucquisidon or sale �
<br />�`'�' � `°`';� o,`f=,t�he PropetTry�.,.�s1�a11 apply any Funds held by Lender at the time of acquisition or sale as a credit against the sum9 sectued by
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<br /> � 3.Applicatton oF Payments.Unless applicable law provides othernise,all payments received by Lendsr under paragraphs -
<br /> - �. ,,:, �� 1 and Z shall be appli.ed: first, to any prepayment charges due under the Note;second,w amounts payable under paragraph 2; - ___ _—_-
<br />=='�`', •�'°" tbird,to inurest due;fourth,to principal due;and last,to any lace charges due under the Note.
<br />-- :.;,�.:;;:.�'�: ' 4.Chac�esi U�•Botrower shall pay all taxes,assessments, ci�arges. fines and imposidons ataibutable to the Properiy
<br /> ="�'�'���=�-' wlrich may attain priority over this Security Insuument. and leasehold payments or ground rents, if any. Borrower shall pay = _
<br />_:,r�` tliese obligadons in the marmer provtded in paragraph 2,or ii not paid iu tbac manner,Borrower sBall pay them on time directly
<br /> '�.=. ^� to the person owed payment.Bonower shall promptly furnish eo I.ender all nodces of amounis to be paid under this paragrapl�. _
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<br /> �� If Bortower makes these payments directly,Borrower shsll promptly fiutnsh to Lender receipts evidencing e payments. __ �
<br /> :' .� � Borrower shall pmmpdy discharge any lien wluch has priority over ttris Security Ia�strument unless Borrower:(a)agrees in _- -- _0�a
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<br />_, j writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b)contests in good faith tlie llea � -_��—_ .,
<br />_� by, or defends against euforcement o�F the lien in, legal proceedings which in the Lender's opiuion operate to prevent the '°;__�i����r.
<br /> � enforcement of the lien;or(c�seciues from tbe holder of the lien an agreement satisfacwry to Lea.ier subordlnating the lien to - ------_
<br />" ehis Security Insuument. If Lender detemunes that any pxn o�tine Property is subject w a lien wluch may attain priority over -���=:��:
<br /> � this Security Insuument, Lender may give Borrower a norice idendi'ying tha lien. Borcower shall satisfy the lien or take one or �'`,�i:������^
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<br /> ` more o�the acdons set fortli above within 10 days of the giving of natice. ;����;, ,
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