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<br />. � � � . ` ' � � TOGETHER WITH afl the improvemenu aow or'hercafter erected on the praperty.and a11 easements.aPPurtenances.and • .° . `� �: .
<br /> :..� . ``�'.r : fixtures now or he�eafter a part of the properry. All replac�ents and additions shall also be mvered by this Securiry ' � �•
<br /> _,`.. <<. _ __
<br /> ' Instru�nt.All of the faregoin�is referred to in this Sccurity instnunent as the"PropertY•" �; � ,�
<br /> , ��°,� = BORROA►ER COYENA1VTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to gant and � .4:. � �•
<br /> �. •. F:=�,.
<br /> ' . . convey the Property and that the Property is unencumbered.except for encumbranoes of ieooid. Bor�ower warrants and will , . �,
<br />° r � . defemd gec►eratly t6e title to the Property against a11 claims and demands.subject to any encumbrances of mord. �� �.•�
<br /> - - -- Ti-IIS SECURITY INSTRQMFNT rnmbines uniform covenants for national use and non-uniform c�venants�vith limited --- '•.,:;
<br /> _ � � ' variations by jurisdictioa to constirute a uniform security instrument covering�eal property • R �°•i:
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<br /> UNIFORM COVENANTS. Bom�wer and l.ender coveoant and agree as foUows: _ ; :f�� '
<br /> _ . :_ . 1. Y�ymeat of P�3udpal and Interest; Prepaymeat and Late Charge9. Borrower shall Pro�PUY PaY when dae the ` ' ,: . ��'.
<br /> . ,,• --
<br /> � principai of and interest oa the debt evidencod by the Note and�ry prepayment and late c6arges due under tke Note. . `�= _
<br /> . � •� �� 2.Funds for Taxes and Insn�aace.Subject to applicable law or to a written waiver by,Lender,Borrower si�all pay to � � ,
<br /> '` � �`' 4'." '�-.,., Lendee on the day monttily payments are due under the Note.until the Note is paid in full,a sum("Funds")for.(a)yearly taxes _�
<br /> • ' and assessmenis which may attain priority over this Securiry Inserument as a lien on the Pcaperty:(b)YeartY leasehold paymenis ' • • �_--�-
<br /> .•� `' � . or grouad rents on the Property,if any:{c)yeariy hazard or piugerty insurance premiums:(d)Year1Y flood insu:ance premiums, . • • ,c"�?;Y--
<br /> _ . , . ,,.._• if any:(e)Y�Y��Se insurance premiums.if any;and(�any s�ms payable by Borrower w Leuder,in asoordance with '" . _ ---_
<br /> . � ��° ' •� the provisions of paragiaph S.in tieu of the payment of mortgage inswance premiums.These itea�s are called°Escnaw Items.° ''.� ° �
<br /> � Lender may.at any time. callect and hold Funds in an amount not to exceed the maximum amount a lender for a fedetally ' . �.
<br /> � `. related mortgage loan may require for Bomnwer's escrow aocount under the federal Real�state Settlement Pracedures Act of __
<br /> ` . ` T974 as amended from time to time. 12 IJ.S.C. Section Z601 et seq. ("RESPA"),untess another!aw that applies tQ the Fnnds • _
<br /> ' sets a lesser amount. If so. Lender may. at any time.collect and hold Funds in an amount not to exceed the lesser amouat. , _____
<br /> --.------- - Lender may estimate the amount of Funds dae on the basis of curcent data and re�sonable esamates of expenditures of future ' -° `�•��.:
<br /> , .'.�. Escrow Items or otherwise in accordance with applicable law. • .'- :a�_
<br /> '�''�•� The Funds sha0 be held in an inrtitution whose deposits are insumd by a federal agency. insbvmeatality. or endty -,��__ _
<br /> � ;.��� ,. (inciuding Lender,if Lender is such aa institudon)or in any Federal Hame Loan Bank.Lender shall a 1 the Funds to the �•���'f``-�
<br /> PPY PaY „ z�<<k_
<br /> ... . .- . l�scrow ttems.Lender may not charge Borrower for holding and applying the Funds.annnally analyztag the escrow acoount,or ,.. ;�;��
<br /> , ' ,' • ' verifying the Escrow items.unless Lender pays Borrower interest on the Funds and applicable law perm'sts Lender W make sucis _• '�'��
<br />- ` a charge.However,Lender may require Borrower to pay a one-time charge for an independent real estate tax reporting servIee ___
<br /> ' •� .- ' .� used by Lender in cotutection with this toan, unless applicable law ptovides otherwise. Ualess an agreement is made or s=�
<br /> � . � :r'.�'•� �'': applicable taw requires interest to be paid.Lender shall not be requir�c!to pay Borrower any interest or earnings on the Funds. �� '_ _
<br />=�� � . Borrower and Lender may agree in wridng, however,that interest shall be paid on the Funds. Lender shaU give to Borrower, - _—_
<br /> without charge. an annuat accounting of the Funds. showing credits and debits to the Funds and the purpose for wiuch each , �. ..�:�—
<br /> ' �� debit to the Funds was made.The Funds are pledged as additionai securiry for all sums secured by this Security Instrument. . .'�_�,
<br /> ' - ' '- '� �'" ' If the Fun�s hetd by I.ender exceed the amounts pertnitted to be held by applicable law. Lender shall account to Borrower `�'--
<br /> --� ' far the excess Funds in�ccordance with the requirements of applicable law. If the amount of the Funds hel�by i.eader at aay `�--
<br /> '•'.,• '�'
<br /> . � ° time is not�uff cient to pay the Escrow Items when due.Lender may so notify Borrower in writing.and,in such case Borrower ' : .: _
<br /> ���:.�'r`
<br /> � ' shaU pay eo Lender the amount necessary to make up the deficiency. Borcawer shall make up the defieiency in no more than ��=
<br /> �` • , twelve monthly payments.at Lender's sote discretian. � . • �_�
<br /> � . Upon payment in full of all swns secured by this Security Instrument. Lender shall promptly refund to Borrower any _ -�
<br /> �. � '-,-_._�,,. .
<br /> �� � Funds held by Lender.If.under paragraph 2l,I.ender shal!acquire or sell the Property,Lender,prior to the acquisition or sa le � . • ' .
<br /> . �., • of the Praperty.shall apply any Funds held by Lender at the time of acquisition ar sale as a credit against the sums secured by �:-�=° �
<br /> . this Security lnstrument. -
<br /> ' 3.Applicatton of Payments.Unless applicable law pravides othecwise.all payments received by Lender under paragraphs _ _
<br /> .. � • � � . l and 2 shall be applidd: first.to any prepayment charges due under the Note;second,to amounu payabls under par a�raph 2; � . :�
<br /> � ' • third.to interest due:four�h,to principal due:and last,to any late charges dae undcr the Note. � �•i - �_'-��
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<br /> '". • � � 4.Cbarges;Ltens. Barrower shall pay all taxes,assessments,charges. fines and impositions attributable to the Property .. - . -
<br /> • � • which may attain priority over this Security lnstrument, and leasehold paymenu or 6round rents, if any. Borrower shall pay � .
<br /> � . these obligations in the manner provIded in paragraph 2,or if not paid in that manner.Borrower shall pay shem on time directly . " ' ': ';'
<br /> ' � • � to the person owed payment.Borrower shall promptly fumish to l.ender all notices of amounts to be paid under this para�raph. �
<br /> � � If Borrower makes these payments directly.Bonower shall promptly fumish to Lendcr receipts evidencing the payments. _ ,�
<br /> '� ' Barrower shall promptly discharge any lien which ha4 priority aver this Securiry Instrument unless Borrower:(a)agrees in ' . . . .
<br /> • � • . writi»g to the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)contests in good faitb the lien '
<br /> . � �,•• by, or defends against enforcement of thc licn in, tegal proccedings which in the L.ender's opinion opernte to prevent the . • • . .
<br /> �� . � enforcement of the lien:or(c)secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to • • �
<br /> �� . ' ' this 5ecurity lnsuument. If Lender determincs that any part of the Property is subject ta a lien which may attain prioriry over , .
<br /> • ' ' this Security Instrument. Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or � •, .
<br /> ' morc of'the actions set.forth abovc within 10 days of the giving of notice.
<br /> . � " • � Form 3028 9/80 �
<br /> � �eflo 2 of 8 , • �
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