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<br />' � � and all easemenu,aPPurtenances.and � ,�;`,y = -
<br /> TUGETE�R WTI'H all the improvemenu now or hereaftcr c�ectsd on the propcxty. ... ..,�. -
<br /> . fvcpues now or hereafcec a Part of the propeitY.All replacemenu and addirions shall also be covcred by this Security Instrument. � :;-.
<br /> �: � � f_
<br /> All of the foregoing is referred to ia this Sesuriry Inswmcnt as the"ProPertY.�. • -
<br /> � BORROWER COVENAN'PS that Bosower is lawf�lly seised of the estate heaeby convcycd and has thc nght to grant and [ ` .•'�-'
<br /> • convey �he Pmperty and tLat t3�e Property is unencumbered��PL fos cncumbrFUices of rccord. Honowcr warrants and will ' ._ ,.
<br /> ' defend genaally the utle to the Progerty aBa�ns�a11 claims and demands,subject to any e�►cumbrances of record.
<br /> ., � THIS SECtJRTI'Y INSTRUMEN��°mb�� �o� �°venants for national usc and non-uRiform wvcnants with I�mited
<br /> _ ��riatiflns by jurisdiction tn constimts a uniform security insuument covering rcal propertY. , -�
<br /> • (INIFORM COVENAN'fS.Borrower and d.ender covenant and agree as folloe�x a whcn due the - � -
<br /> , 1.Payment of Prmcipal and Interest,Prepayment and i.ate C6arges. Borrower shaU prompilY P Y �
<br /> �, principat of and int�aest on the debt evidenced by the Note and any prepaYmeat and late charges duc under thc Note. i �
<br /> Z.Fhnds for Taxes and Insnrauce. Subject w applicable law or w a written waiver by L�nder. B�rrower shall paY to . . - -`.' . ��
<br /> ' ents are due under the Noie,until the Note is paid in full.a sum("Funds")for.(a)Yearly taaes � , ':��:�::,`..:.n
<br /> � � L.euder on the day monthlY PaYm eari lcascl�old a ments C _ �.::.. .—
<br /> '•.�` � and assessments wluch m.ay attau►PnoTUY over this Seturity Inswment as a lien on the PropertY:N)Y Y F y •,'"�:��s,�;:<...�
<br /> �f any;(c)Yeaz1Y hazard or propercy insutance premiums:(d)Year1Y tlood mxurance premiums,it ` .. i :�.�_,
<br /> :- � or ground rents on the Pr�perty, �,��y and(�anY sums PaY�le by Borrower to L.ender.in accordance with ihe f _-
<br /> anY:(e)Y�r1Y mort8age msurance premt � � ;'. .�.
<br /> � provisions af paragraph 8. in lieu of the payment of mortgage ins�uance premiums. These items are called "Escrow Items:' .. . ,..�
<br /> ,,-.. � �d��nay,ai any tune,colled and hold Funds in an a�nount not w exczed the maximum amount a lender for a federally celated i; , '- �..��=";:_�
<br /> ,, � mortgage loan Inay r e s l u i r e f o r B o r r o w a's escrow acco�nt under the federal Real Estate Sealement Procedures Act of 1974 as �;.":
<br /> ' i PA" unless anothec!ew thai aPPlies tn t he Fun d s s e t s a l c s s e r ...��,.•.:
<br /> . � amended from time to c�e,12 U.S.G Section 2601 et seq. C'� ), , ,. . , -�{,.
<br /> � amount If so, Ler►der may.at any time,collect and hotd Funds in an amoant not tn excead the lesser amount Leader may � --
<br /> : I , . . .
<br /> ' � : � estimate the amaunt of Funds due on t4�e basis of current data and reasonable estimates of expendiwres of tuuue Fsctow Items or I , --,_
<br /> ; . � licable law. � . � ,�.; �`
<br /> �• � otherwise m accordance wid►apP ; -�^'"",�-�`
<br /> `.`;� The Funds shall be held in an insti�tion whose deposits are ins�ued by a federal agency,insuumcntaliry,ar endty(inclading , � ..,.�__
<br /> ins' � ��g���pay the Escrow �.
<br /> • Federal Home Loan Bank.Lender shall app y ,,�.; :.--
<br /> ',.. j Lender.if Lender is such au u�sutuuoa)or in any tin the esccow account,or veritying �
<br /> �u
<br /> ��'��' I I�,����y not charge Borrower for holding and applying the Funds,annuallY analY B . "�
<br /> Lender a s Borrower interesc on 1he Funds and applicabte law permits Lender w make such a chacge. � j��;'� =
<br /> � ' ihe F.scmw Ite�os,unless P Y 4 �� . �.
<br /> `:f�: : + ortin stxvice uscd by ' _ -
<br /> 1 However,Lender may re9uire Borrower to pay a on�time charge for an independent real estate tax rep g .` '` .�,..
<br /> i h c a b le l aw m v i d e s o t h e r w i s e.U n l e s s a n a g r e e m ent is made or a ppGcable law �;,.�' . � ._-
<br /> • , �d�in counection with this loan,u n less aPP� p Bosrower any interest or eamings on the Funds.Botcuwer and #.c• .-
<br /> . � �� requires interest to he pa:d.Lender shall not be required m paY
<br /> ' ���y ag����ng,however,that interest shall be paid on the Funds.l.ender shall give to Borrower.withoui char�e,an .� . � �` .
<br /> ' ,, j annual acconntiung of the Funds,showmg credits and debits to the Funtls and the purpose for which each debit to the Funds was . ...�`i .�
<br /> � �
<br /> ' � � madc.The Funds are p l e dg e d as a d�tional securi ry for all sums secured by this s�cab e law,�l.ender shall account to Borrower for ... . ;.er •��':` .=
<br /> If ihe Funds held by I.ender exceed the amounts pemutted to be held by app'
<br /> • � the excess Fuads in accordance with the requaements of applicable law.on we,�r u�nwn�geand.in sucfi c�se Ba ower shall pay ,.° ���' �,
<br /> __._, � not su�cient to pay the Escrow Items when due,Lender may so noufy � �
<br /> co I.endea the amount necessary to malce up the deficie,ncy. Borrower shall make up the deficiency in no more than taeive ;.y,. � ,.
<br /> .�.;..w.._��
<br /> . mon t h l Y P a Y m e n t s.ai l.ender's sole discretion. •. '�'�': ��;
<br /> • UpoA payment in fu11 of all sums secured by this SecuricY Insuument,Lender shall promp t ly re fnn d t o B o r r o w e r a n y Funda �T . �
<br /> "��� h 21,L.ender sha11 ac9uire or sell the Property,I.ender,prior w the acquisition or sale of the
<br /> � held by L en d e r.I f,un d e r p a r a 8 r a p , �`��~._-;�
<br /> propemy, sha11 apply any Funds held by L.ender at the time of acquisifion or sale as a credit aSainst the Sum$sectu�d bY�� ; "�
<br /> � Security InsuumenL �paymenu received by Lender under paragraQhs ��. ��'s�` ___ _
<br /> • � 3.Appltcadon of Peyments. Unless applicable law provides othera+ise, h 2: � .: � �- �
<br /> "' i and 2 stiall be aPPlied:first,t°�;�pr�Ym�t c�a rges due u n d e r t h e N o t e:s e c o n d,t o amounis pa yable under ParagrnP .:.�.z,��_�
<br /> rhird,w interest due:fourth,to prnicipal due;and last,to anY late charBes due under the Notc. : -�
<br /> , 4.Charges,Llens. Borrawer shall pay all taxes,assessments,charges,fines and imposidons attributable to Ihe Proqerty �:.L:�' �,�•,---
<br /> ori over this Securicy lnsuument,and leasehold payments or ground rent9.if any.Boaower shall pay these ...-'`'�-':a�••-- ■
<br /> ' which may attain pn �Y ' �
<br /> � � obligations in the manner pro�►ded in FaraS�Ph 2,or if not paid in that mann�r.Boaower shall pay them on dme direcdy w the -
<br /> , pecson owed payment Boaower sS:� prompdy fumish to Lender all notices of amounts tn be paid under this paragraph. If `'.`�,�,`�
<br /> Borrower malces these payments directly,Borrower shall prompdy fumish to Lendea receipts evidencing the payments. � �
<br /> Borrower shall pr�mPdY disch��e�Y lien which has priority over this Socurity Insuument unless Borrower:(a)agrees in , . � '?iA.,;
<br /> writing tn the payment of the obligation secured by the lien in a manr►er acceptable to I.ender.(b)contests in gaad faith the lien . ,
<br /> by. or d�fends against enforcement of the lien in, legal proceedinBs which in the Lender's opinion operate to prevent the , ��'
<br /> ' enforcerzent of the lien;or(c)serures from the holder of the lien an agreement satisfactory to Lender su6ordinating the lien to • : , �
<br /> • ��g�urity Insuurnea►t If Lender detemunes[hat anY P�of the Property is sub;ect to a lien which may attain priority over Ihis � . , �
<br /> • : Secnriry Insuumens.lx�►der may givc Bonower a nodce identifying the lien.Borrower shall satisfy the lien or take one or morc . . �:
<br />� � of the actions set foish alsove within 10 days of the giving of nouce. Form so2a oroo '. . _ --
<br /> vapo z o,o inn!.u: . �-
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