|
.si_�_......�_�__u: -- . � _ _ . _� . - . � . . ' � . . . �. ' ' . . . . ' . . . . _---' . ; ` ' o .. --
<br /> ' . 97m `.� `� � � �
<br /> �; i�i�7�1 �' . . . ,-
<br /> � � � � . : �_
<br /> ` TOGETHER WITH a11 the iuzpmvements now or hereaP.er erected on the properry, and all easements,apputtenancxs.and , � � _
<br /> fixtures naw or h�reaf[er a part of the pmperry. All replacemenu and additions shall also be covered by this SECUrity , F ` . _
<br /> ' Insaument.All of the foregoaig is referred to in this Security Instrument as the'Progerty.' , , '. : . �; .
<br /> BORROWF.R CQVENANTS that Bonower is lawfnlly seise�of ttte estate hereby conveyed and has the right to grant aud - ..:`
<br /> convey the Properry and that t8e Pnoperry is unencumbered. except far encumbrances of record. Borrawer watrants and wil! • :�-
<br /> defznd generally the tide to the Propr.�ty against all claims and demands,subject to anY eac�mbrances of rec'°rd• E � • . . �'
<br /> THIS SECURITY INSTRl1MENT combiaes uniform covenanu for nadonal use and uon-uniform covenanu with limited
<br /> variations by jurisdiaion co c�onsUtute a uniform securiry instrumeat covering real progerty _--
<br /> UNIFORM COVENANTS.Bortower and Lender covenant and agrce as follows: . - - _
<br />-. 1. Pay�tent of Fr[nctpal and InEerest; Pretsayatent and Late C6aigc�. Boirower shall promptly pay when due the . � _
<br />, prinMpal of and interest on the debt evidsnced by the Note and any prepay�ne and late charges due under the Note. � . ,. �
<br /> 2. Funds Por Taxes aad Insurence-Snbject to applicable!aw or to a written waiver by Lender, Borroroyer shail pay co j _ - - - -,
<br /> � Lender on the day monttily payments aze due under the Note,nntil the Note is paid in full,a sum("Funds")for: (a}yearly taxes r�<` . ,_
<br /> • and assessments which may attain priority over tlris Seauity instniment as a lien on the Property;(b)Yeu1y leasehold payments ; . .�:. �, � '.
<br /> , or graand rents on the Property,if any�(c)Year1Y hazard or property insurance premiums;(d)Yearly flood insurance premiums. f�� ..�`'�'�<•`-
<br /> � a able b Borrower to Lender, in accordance aith - � '�
<br /> if any� (e)Yearly mortgage insuraacepremiums.if any:and(�anY�P Y Y . ...:�_�::
<br /> ttte pmvisions of paragraph 8, in lieu of the payment of mortgage insurance premiums. 'These items are called"Escrow Items." - - -
<br /> I,¢nder may, ai any time, collect and hold Funds in an amount not to exceed the maximum amount a lender for a fedsratly
<br /> � related mortgage loan may require for Boaower's escrow account under the federal Real Estate Settlement Procedures Aa of - �—'�'�-�—�,4
<br /> 1974 as amended from time to ume,12 U.S.C. Secaon 2601 et se�. ("RESPA°),unless another law that applies to the Funds , � _
<br /> �} sets a lesser amount. If so, L.ender may, at any time, collect and hold Funds in an amount not to exc�xd the lesser amount. : .
<br /> Lender may estimate the amount of Funds due on the basis of curcent data and r�asonable estimates of expenditur�s of fuiure .-sd°" �"''-�
<br /> • Escrow Items or otherwise in accordance with applicable law. . _� '�-r
<br /> 'the Funds shall be held in an institution whose depasiu are insured by a federal agenry, mM^'*'��"tality. or entity � _ -- __
<br /> � J (including Leader,if Leader is such an institution)or in aay Federal Home Loan Bank.Lender shalt apply the Funds to pay ths �_ _.-�
<br /> Fscrow ltems.Leader may not charge Borrower for holding and aPF1Yu►g the Funds,annually aaalyzing the escrow aa;ount,or . �.`:d' �'
<br /> verifyiag the Fscrow Items, unless I.euder pays Borrower interest on the Funds and applicable law permits Lender to make such _ -�'� �
<br /> ' . $� .
<br /> ,• a charge.However, Lender may require Borrower to pay a one-time charge for an independent real estate tax reportiag service � _'�"===
<br /> used by Lender in connection with this loan, unless applicable law prnvides otherwise. Unless aa ageement is made or " _
<br /> applicable law tequires interest to be paid,Lender shall not be required to pay Basower any interest or earnings on ths Funds.
<br /> � Borrower and Lender may agree in writing,however,that interest s6aU be paid oa the Funds. l.ender shall give to Borrower, , _ ..
<br /> ro
<br /> ' without charge.an annual accounw►g of the Funds.showing credits and debits to the Funds aad the purpase for whic6 eacb .,,�,
<br /> debit ta the Fe�nds was made.'Ihe Funds are pledged as addidonal sea�rity for all sumg secured by this Secudty ln5trument. :"_��� �-
<br /> If the Funda held by Leader eaceed the amounts permitted to be held by appltcabie law, Leader ahall accouut to Borrower .;;,,�,�;, � ;
<br /> � for the excess Funds in accordance with the requirementa of applleable law. If the amount of the Funds held by Lender at any `,,-r-= - •�
<br /> time is noc sufiticient to pay the Escmw Items when due,Leader may so notify Borrower in writing, and.la such case Bosmwer .*�:�;.: `'�i :
<br /> � shaU pay to Lender the amount necessary to make up the Qeficiency. Borrower shall make up the deRc�ency �n no more than =;�;:: '= ,�,
<br /> � twelve monthly paymeuts.at Leader's sole discredon. ''Y '�'yf .��•
<br /> '. • Ugoa payment in full of all sums secured by this Security Instrument. I.ender shall prompdy refund to Bonower azty � f
<br /> -- , Funds heid by Lender.If,under paragraph 21,Lender s�all acquire or sell the Pmperty,Lender,prior to ths acquisition or sate ' ��::.
<br /> of the Property,shall apply any Funds held by Lender at the tlme of acq�isition or sale as a credit against the sums secaued by ^ �€_�:�,-^
<br /> ., ���
<br /> � this Security Instrument. + :�,' '�.
<br /> � •. 3.Appl�ca8on of Paymeata. Unless applicable law provides otherwise,all payznents received by Lender under paragraphs '�`'4
<br /> 1 and 2 shall 6e applied: first,to any prepayment charges due under the Note; second, to amounts payable under paragtaph 2; ..- '��-"''
<br /> • third,to interest due;fourth,to principal due;and last,to any late charges due under the Note. -=,��---_��T.�
<br /> 4.Charges;Lien9. Borrower shall pay all taxes, assessments,charges, fines and 'unpositions amibutable to the Froperty :. � - _
<br /> which may attain priotlty over this Secarity Insuument,and leasehold payments or ground rents, if any. Borrower sl�ell pay _-
<br /> � �� these obligations in the manner provlded in paragcaph 2.or if not paid in that manner,Boaower shaU pay them on time directty `.�y�,��
<br /> ,+� to the pe�son owed payment. Borrower shaU promptly fumiah to Lender all notices of amounts to be paid under this paragraph. ,� . .. , .
<br />
|