|
" . , ' ' • . t .
<br /> . , , � . • � ` � .. . . i:
<br /> � � �. , ' '�
<br /> i '
<br /> � g7�i��.'�93 � �s
<br /> 1 • TOGETHER WI'I�i all the improvements now or hereafter e�'ected on the property, and all easements. . . ' .
<br /> # appurtenances,and fiatures now or hereafter a part of the property.AII repiacements and additions shall also be covered
<br /> by this Security Insuument.dll of the Poregoing is referred to in ttus Security Instrument as the"Propercy." _
<br />� `� BOP.ROWER COVEiVA��I'i'S that Bonower is lawfullp seised of the estate hereby conveyed and has the right to ; , ,
<br /> grant and convey the Pror�erty and that the Property is unencumbered,escept far encumbrances of record. Bonower �
<br /> :� warrants and will defend geneTally the title to the Property against atl claims and demands,subject to any encumbrances
<br /> .•'y of recard. - - - :- -- .
<br /> �.
<br /> { THIS SECURITY INSTRUNIEN�I'combines usriform covenants for national use sind non-uniform covenants with �
<br /> ! limited variations by jurisdiction to constitute a uniform se�urity instrument covering real property. •• •
<br /> � UNIFORM COVENANTS.Barrower and Lender covenant and agree as follows: . , . . �
<br /> 1.Payment of Principal and Iaurest;Prepayment and Late Charges.Borrower shali promptly pay when due � . .
<br /> the principal of and interest on the debt evidenced bp the Nate and any prepayment and late charges due under the Note. ` _
<br /> 2. Funds far'I's�es and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall '.�.{� •.
<br /> pay to Lender on the day monthly payments are due under the Note,until the Note is paid in full,a sum ("Funds")for. . � -_-___
<br /> (a)yearly tases and assessments which may attain priority over this Securitq Instrument as a lien on the Property;{b) � ~� •.,,
<br /> yearly leasehold payments or ground rents on the Property,if any;(c) yearlq hazard or property insurance prem�ums; ::�,�`
<br /> (d)yearly flaod insurance premiums.if any(e)yearly mortgage insurance premiums,if any;and(f)any sums payable . .
<br /> by�urrower to Lender,in accordance with the pro�isions of paragraph 8,in lieu of the payment of mortgage insurance ; . . _
<br /> premiums.'These items are called"Escrow Items. Lender may,at anq time,collect and hold Funds in an amount aot
<br /> to eaceed the maximum amount a lender for a federally related mortgage loan may require for Barrower s escrow ,. .. �: . • �_ �
<br />• account under the federal Real Fsiate Settl�ment Procedures Act of 1974 as amended from tsme to time, 12 U.S.C. • 7'=-
<br /> --, .::, �
<br /> Section 2601 et s�.("RFSPA").unless an�ther law that agplies w th$Funds sets a lesser a.-nosnt.Jf so,Lender may, . ":.:f:;; �
<br /> n
<br /> �.�_::
<br /> r � at anp time,collect and hold Funds in an aTnount not to esceed the l�sser amount.Lendet may estimate the amount of � .�.�;�F;��4,,:
<br /> Funds due on the basis af current data and reasonable estimates of eapenditures of future Fscrow Items or otherwise in 2 � •�s �.—
<br /> �_ accordance with applicable law. '��' . '
<br /> '..;�'.:�.:.
<br /> � The Funds shall be held in an institution whose deposita are insured by a federal agency,instrumentality,or entity �
<br />. (including Lender,if Lender is such an institution)or in any Federal Home Loan Bank.Lender shall apply the Funds� :. � .. ::�"►� `-
<br /> • � pay the Escrow items.Lender may not charge Bonowec for holding and applying the Funds, annually analqz�ng � , • _ � _ .y.•`•
<br /> � escraw account,or verifying the Fscrow Items,unless Lender pays Borcower interest on the Funds and applicable law .,";x,_.� .
<br /> permits Lender to make such a charge. However, Lender may re�{uire Borrower to pay a one-time charge for an ``�`�' • �'? :�
<br /> independent real estate tax reporting service used by Lender in co�ection with this loan.unless applicable law provides � �`� �"• ..
<br /> otherwise.Unless su agreement is made or applicable law requirea interest to be paid,Lender shall not be required to � r� :�;;:.�.'�:
<br /> pay Borrower any interest or eamings on the Funds.Honower and Lender may agree in writing,however,that interest ., : �:; �
<br /> shall be paid on the Funds.Lender shall give to Bonower, without charge.an annual accounting o f t he Fun d s,s howin g :�•:., ,
<br /> credits and debits to the Funds and the purpose for which each debit to the Funds was made."The Funds are pledged as :Y� � �i` ' __
<br /> additional security for all sums secured by this Security Instsumen�
<br /> sceEd t he amoun t s mi t t e d t o b e h e l d b y a p p l i c a b l e i a w,L e n d e r s h a l l a c c o u n t to :� ; ��j � `
<br /> I f t h e F u n d s h e l d b y L e n d e r e P�
<br /> Borrower�or the excess Funds in acwrdance wiffi the requirements oP applica b le law.I f t he amoun t o f t he Fu n d s h e l d �--;�-�--•= ��� :
<br /> by L e n det at any time is not suf4icient to pa y the Fscrow Items when due. Lendet may so notify Botcower in writing, 'i'�,_, � �,��
<br /> and,in auch case Bonower ehall pay to Lender the amount necessary to make up the deficiency.Horrower shall make ;"�.,�� �•°
<br /> f��_
<br /> ' up the deiiciency in no more than twelve monthly payments,at Lender's sole discretion. ;�� ,;,:`;:.��: _"
<br /> Upon payment in foll of all sums secured by this Security Instrument,Lender ahall promptly refund w Borrower :�..��_v ]t,�,L'�'
<br /> any Funds held by I.ender. If, under paragraph 21, Lender shall acquire or sell the Propertp, Lender, prior w the �,_,--
<br /> � :-��.-�
<br /> acquisition or sale of the Property,shall apply any Funds held by Lender at the time of acqaisition or sale as a credit • :�� ,r�_.:
<br /> againat the sums secured by this Security Instrumen� '°
<br /> 3. Applicetioa oi Paymeats. Unless applicable law ptovidea otherarise,all payments received by Lender under • ,, �___=„Y
<br /> paragraphs 1 and 2 shall be applied: firet,to any prepayment chargea due under the Note;second,to amounts payable ...,��,��� _�
<br /> under pazagraph 2;third,to interest due;fourth,to principal due;and last,to any late charges due nnder the Note. , ,r, ,.,,�!�'�`_
<br /> 4. Charges; Liens. Bortower ahall pay all tases,essessments.charges,tines and impositions attributable to the �,,__=---� __ .
<br /> � Property which may attain prioritq over this Security Instrument,and leasehold payments or gtound renta, if any. LL._,�, . ��
<br /> � Honower st�all pay these obligations in the masu�er provided in paragraph 2,or if not paid in that manner,Borrower �:;�
<br /> shall pay them on time directly to the person owed payment.Borrower shall promptly furnish to Lender all noticea of .. . .. ,�__ _
<br /> amounta to be paid under this paragraph.I�Bonower makea these paymenta directly,Borrower sha11 promptly furnish , : .
<br /> to Lender receipts evidencing the payments. � ' �"°`: ,
<br /> Bonower shall promptll�discharge any lien which has priority over this Security Instrument unless Borrower: (a) ._ _
<br /> ageee in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)contests in • _. �� _
<br /> good faith the lien by,or defends against enforcement of the lien in.legal proceedings which in the Lender's opinion .
<br /> operate to prevent the enforcement of the lien;or (c)secures from the holder of the lien an agreement eatisfacwry to , � ""�"�" �
<br /> Lender sobord�nating the lien to this 5ecvrity Instrument.It Lender determines that any part of the Property is subject .
<br /> to a lien which may attain priority over this Security Instrument,Lcnder may give Bonower a notice identifying the . .
<br /> lien.Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of •.
<br /> , notice. ' � �
<br /> � F�rm 30Ya 9/90 . � • •
<br /> j �-6R�IE�t471210� o.a.7 oe e Initlats!�� f _ . . �
<br /> � . .
<br /> � � �� � �-. . . =-
<br /> + __._..._ .
<br /> � . . . . - �-�-'----- '.. — ., - .
<br /> ._r.. .,.. . . .. --..... .._ ,, '; � .. . „ r .. - . . . .
<br /> � . . . ` . . .. . . +-- . . . . . � , .
<br /> � . • ` :.� - _ _ -----'<•� j'.
<br /> . ' � .. .�, �.' '• ' . � , ' . . .. .�• . . . ..� . � . ' � `�r• � ,� . •� j r � ' ..
<br />- ' .F. ,. . � . _• . . - � . - � � , � '
<br /> .. , . , ... 5' � " . . • - ' ' � . . . . � ' � , t. .. . . , .r , . . • f:_- � ., - . .. � . . . .
<br />
|