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<br />.� 97-� ���1'��9 -_t� .� -_ �. - �
<br /> TOGETHER WiTH all the improvemenu ttow or hereafter erected on the property.and ali w.,rmrnt,,appurtenance,,and �- . �
<br />� fixtures now or her�fter a part of the pmperty. All replacements and addition� shall al,o he ro�rred b}• thi� Security • . :-..Q
<br /> , Instrumeni. All of the foreguing i,referred tn in thi,Security[nstrument a,the"Pmperty." . �.� , . .�°"�
<br /> BORROWER COVENANTS that Borrower is lawfutly scised��f the estate hereby comeycY!and ha,the right tu grant and . =-
<br /> comey the Pmpeny and that the Property i, unencumbered, except fi�r enrumbrances of rrcorJ. Burruwer u•arrant,and will ' _
<br /> defend generally the tit[e ta the Pmperty a�ain,t all claims and demands,subject to any enrumbr.uire+ut recurd. • : __
<br /> THIS SECURITY INSTRUMENT combines uniform covenants for natiunal u.e and non-uniform rovenantti w•ith limlted ' . .
<br />- variations by juri,diction tn constimte a unifi�rm secunty in�trument covering real propeny. � '" " . • _ ---
<br /> " UNIFORM COVENANTS. Borrower and Lender covenant and agree as foUows: - - - - --- -
<br /> 1. Paymer9t of Principa) and Interest; Prepayment and Late Charges. Borrower�hall pmmptly pay when due the '. ; -_ � � _
<br /> principal of and interest on the debt evidenced by the Note and any prepayment and late charge�;due under the Note. , � � :�
<br /> 2. Funds for Taxes and Insurance. Subject to applicabte law or to a written a•aiver by Lender, Borrower shall pay to . _' -- �' _.
<br /> L.ender on the day monthly payments are due under the Note.until the Note is paid in full,a sum("Funds")for:la)yearly taxes �- �� -
<br /> • and assessments which may attain priority over this Security Instrument as a lien on the Property:(b}yearly leasehold payments -.-__�"—---_—
<br /> s or ground rents on the Property,if any;(c)yearly hazard or pmperty insurance premiums:(d)yearly ftaod insurance premiums, ' " • '�'���� - —
<br /> if any: (e) yearly mortgage insurance premiums. if any: and t�any sums payable by Horrower to C.ender, in accordance with ':�+�;_:
<br /> : . ...«-:•.� ,
<br /> , the provisions of paragraph 8. in lieu of the payment of mortgage insurance premiums. These items are called "Fscrow[tems." , _ _.,.,.,�:� ---
<br /> Lender may, at any time, collect and hold Funds in an amount not to exceed the maximum amount a lender for a federally ` ' � r',,,�
<br /> related mongage loan may requice for Bamow�er's escrow account under the federal Real Estate Settlement Procedures Act of , -, r"
<br /> L ��: .
<br /> 1974 as amended from time to time. 12 U.S.C. 5ection Z601 et seq. ("RESPA"),unless anoiher law that applies to the Funds " ��.aY I-
<br />' " sets a lesser amount. If so. Lender may, at any time, co]lect and hold Funds in an amount not to exceed the lesser amount. " -� ' � �
<br /> � �� �'--
<br /> ��.�
<br /> , Ler.der may estimate the amaunt of Funds due on the bacis of current d ata an d reasona b le estimates o f expenditures of future
<br /> Escrow hems or otfierwise in accordance with applicable law. --��� �
<br /> The Funds shall be held in an institution whose deposits aze insured by a federal agency, iastrumentality, or endty --���-- '¢`� "
<br /> (including Lender,if Lender is such an institution)or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the t'. ', . �`" '��°�
<br />•f` Escrow Items.Lender may not charge Borrower for holding and applying the Funds,annually analyzing the escrow account.or :•�'� �T.°
<br /> veri �n the Fscrow Items, unle.cs Lender a s Borrower interest on the Funds and a licable law ermits Lender to make such `°r�*` s# ' ._�
<br /> fY� g P Y PP P �• •
<br /> a chazge. However. L.ender may require Borrower to pay a one-time charge for an independent real estate tax reponing service r,_,�- _ .
<br /> used by Lender in connection with this loan, unless applicable law provides athenvise. Unless an agreement is made or
<br /> �" 1 :: �::.._
<br /> app[icable law requires interest tu be paid. L,en3er shall not be rcquired to pay Borrower any interest or earnings on the Funds. T: " ��. _; -'.,i
<br /> Borrower and Lender may agree in writing. howcver,that interest shall be paid on the Funds. Lender shaJl give to Barrower. .��; '� ! �.
<br /> -� without char e, an annual accountin of the Funds, tiho�cir.R crediu and debiu to the Funds and the u ose for which each .��''�,'
<br /> 8 g � P rP :� %s.,i:". �
<br /> debit to the Funds was made.The Fund,are piuige4i as addiuonal security for all sums secured by this Security Insu�:nent. '•` ;!�_�•
<br /> If the Funds held by Lender exceed the amounts pernuc:ed to be held by applicable law, Lender shall accouns:�Borrower _ ;��;
<br /> for the excess Funds in accordance with the reqairements of applicable law. If the amaunt of the Funds held by Lender at any . ��;;?:_� i� •
<br /> time is not suKcient to pay the Escrow Items when due,l.ender may so notify Borrower in writing,and, in such case Borrower ~"# '",.� '°�� __
<br /> .s •}� _.-
<br />• - shall pay ta Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than a�. '. � `-
<br /> twelve monthly paymenu,at Lender's sole discretion. "
<br /> Upon payment in full of all sums secured by this Securiry Instrument. Lender shall promptly refund to Borrower any "" "��'
<br /> =�':',��-
<br /> Funds held by Lender. if,under paragraph 21,Lender shall acquire or sell the Property.Lend�r,prior[o the acquisition or sale ., _: • -.��:rr��
<br /> �� of the Pro shall a 1 an Funds held b Lender at the time of a uisition or sale as a credit ainst the sums sesured b ��-- "
<br /> '�" PenY• PP Y Y Y �I a8 Y
<br /> ., this Security Inswment. _ �� �.-'� __ -
<br /> � 3.Appl[cation of Payments.Unless applicable law provides otherwise,all payments received try Lende�under paragraphs ��•�.*� ``
<br />, ,�, �.•.,;�,.
<br /> ' 1 and 2 shall be applied: first.to any prepayment charges due under the Note: second,to amounts payable under paragraph 2: ' ` " ---=r�_
<br /> third,to interest due:fourth,to principal due:and last,to any late charges due under the Note. � - - '—r
<br /> 4.Chasges;LIenS.Borrower shal!pay all taxes,assessments,charges,fines and impositions attributable to the Property ,. �.,
<br /> which may attain priority over this Securiry Instrument, and leasehold�ayments or ground rents, if any. Borrower shall pay � ,,:�_�w;
<br /> " <; these obligations in the manner provaded in paragra�ph 2,or if not paid in that manner,Bonower shall pay them on time direttly ��.
<br /> •.,� to the person owed payment. &�rrower shaU promptly furnish to Lender all notices of amounts ta be paid under this paragraph. �.�, � "_-=_
<br /> If Borrower makes these a ments directl Barrower shall rom tl P.�r^;�h to Lender rerei ts evidertcin the a ments. ���
<br /> PY Y• P PY P S PY
<br /> . �2 . .c;Y�7��.
<br /> Borrower shall promptly discharge any lien wl�ich has priority o�e;:�.�is Security Instrument unle�s Borrower: (a)agreee in =.,� •. �.
<br /> 'E writing to the payment of the obligation secured by the lien in a manner acceptable to I.ender: (b)contests in gaad faith the lien , : '
<br /> ° by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinian operate to pnvent the �� '° ' ,
<br /> r� enforcement of the lien:or(c)secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to "�'��'
<br /> -��°:^-#:
<br /> this Security Instrument. If Lender determines that any part of the Propeny is subjert to a lien which may attain priority over ..'�.-��•.•_-•
<br /> this Security instrument. Lender may give Bortower a notice identifying the lien. Borrower shall satisfy the lien or take one mr ����
<br /> more of the actions set forth above within 10 days of the giving of notice. . �``�'�'- "''"�
<br /> Form 3028 9/90 . � " •
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<br /> Page 2 of B -. � � ..
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