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<br /> ; TOGETHER WITH a11 the improvements now or hereaf[er erected on tlie properry,and all easements,appurtenances.and _
<br /> `! fixtures nnw or hereafter a part of the property. All replaceuients and addiuons shall also be covered by this Securicy . . -_
<br /> >�.
<br /> •• i Irisuuta�nt.All of the foregoing is referred to in this Security Insuument as the'Property." . . ° _
<br /> ` ! BORROWER COVENAPITS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and , ,_ _
<br /> � � oot►vey the Property and that the Progerty is unencumbered, excepc for encumbrances of record. Borrower warranrs aad will ,�.a
<br /> � , defead�enerdl�y►he title ta the Property against all claims and demsnds,subject to any encumbrances of record. ^
<br /> THIS SECURITY INSTRUMENT combines uniform wvenants for narional use and non-uniform covenants with limited - •
<br /> ' variations by jurisdiction to constitute a uniform securi[y instrument covering real progerty. ;� • �. � -
<br /> .; UNIFORM COVENANTS.Borrower and Lender covenant and agree as follows: : , . � � —
<br /> � � 1. Peyment of Prtncipul and lnterest+ FrePaYmen4 and Late C�arges. Borrower shall promptly pay when due the i � �
<br />• �� � principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. ,
<br /> .- _ Z, ��gor'�'�x�aa�Ia�urs�aze. Subject to applicable law or to a amtten waiver by Legder. Bortower shall gay to __
<br /> l.ender on the day monthly paymenu are due under the Note,until the Note is paid in full,a sum("Funds")for:(a)yearly taxes • . ,,,� .
<br /> � and assessments which may attain priority over this Security Instrument as a lien on the Property; (b)Yearly leasehoid payments ,�_
<br /> . - or ground rents on the Property,if any;(c)Yearly hazard or property in�,ra„ce premiums:(d)Yearty flood insurance pre�iums, - , - �
<br /> , if aay; (e)yearty mortgage insurance premiwns. if any;and(� any sums payable by Borrower to Lender, in accordance with . ; _
<br /> �_�, � the provisians of paragraPh S, in lieu of the payment of mortgage in�,��nce premiums.These items are called"Fscrow Items.° . ' ' -�.�_�,',;•-..'
<br /> I nnder may, at any time. collect and hold Fimds in an am�unt noc to exceed the maximum amount a lender for a federally .�,T T�'3
<br /> t �'`�r`.
<br /> : 1 related mortgage loan may require for Boaower's escrow acxount under the federal Real Estate Settlement Procedures Act of , ; ;�,
<br /> �� `� 1974 as amended from time to time, 12 U.S.G Sec[ion 2601 et seg. ("RFSPA"),unless another law[hat applies to the Funds . . � �y_2„�_
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<br /> sets a lesser amount. If so, Lender may, ai anY time. collea and hold Funds in an amount not to exceed the lesser amount. • . ,���_ .
<br /> . Leader may estimate the aznowtt of�unds due on the basis of current data and reasonable estimates of expenditures of future ;:�:�--_
<br /> Fscrow Items or otherwise in accordaace with aPPlicable law. ' ��,�w%��
<br /> 'I�e Funds shall be held in an institution whose deposiu are iasured by a federal agency, instrnmentality, or entity . " .�;�_-._�
<br /> . (including Lender,if Lender is such an institution)or in auy Federal Home Loan Bank•L,ender shall apply the Funds to pay the • �
<br /> ..�. Fscrow Items.Lender may not charge Borrower for holding and applyinS the Funds,annually analYzing the escmw account,or , r:.- ,�_
<br /> • veri�ey.��'"�p the Escrow Items,uniess 1-ender pays Borrower interest on the Funds and applicable law permits Lender to make such _� �� � '- ,,,;
<br /> �J_D R
<br /> ��, . , a charge.However, l.ender may re4uire Borrower to pay a one-rime c harge for an in depen d e n t r e a l e s t a t e t a x r e p o r t i n g s e rv i c e y�=-:
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<br /> . used by Ixnder in connedion with this loan, unless applicable law provid� otherwise. Unless an agrzemeen't is made or ' �- �����
<br />, ' � appticable law requires interest to be paid,I.ender shall not be required to pay�urrower any inteiest or earaings on the Funds. . �� ��
<br /> , Borrower and I.ender may agree in writin8. however,that interast shall be paid on the Funds. Lende�shall give to Borrower, � � _-�;�'
<br /> � • without charge, an annual accounting of the Funds, showing credits and debits ta the Funds and the purpose for which each ;:,,..:..f.,.- ::,,_
<br /> • �• debit to the Funds was made.The Funds are pledged as additional security for all sums secured by this Securiry Iustmment. �r;z�.`� �.',:��
<br /> T:' �
<br /> • :�;. If the Funds held�Lender exceed ihe amounts permitted to be held by a��icable law,Lender shall account to Borrower . ��;; _ �
<br /> � for the excess Funds in zscordance with the re4uirements of applicable law.If the amount of the Funds held by Lender at any '��' � '����
<br /> , time is not sufficient to pay the Fscrow Items when due,Lender may so notify Borrower in writing,and,in sach case Borrower ;.;' , ?� .� �
<br /> .•� . shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the deflciency in no more than ��:*:•��. "�' '.�
<br /> twelve mantbly payments,at Lender's sole discretion. ' - �'� :, °°
<br /> ° ppon paymeat in fiill of all sums secured by this Security Instrument, L�ender shall prompfly refiutd to Borrower aay .,�,J..` - - �. •�
<br /> - - Funds held by Lender.If,u�der paragraph 21,Lender shall acquue or sell the Property,Leader,prior to the acquisition or sate y�. _
<br /> of the Property. shall apply any Funds held by Lender at the time of acqnisidoa or sale as a credit against the sums secured by �p�` _.
<br /> . tl�iis Secauiry Instrument. � f ' '_; :;i�:
<br /> s �',
<br /> � 3.Appftcailoa of Faymeats.Unless applicable la�v provides otherwise,all payments received by Lender uader paragraphs +�-'. °�`-
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<br /> : � 1 and 2 shaU be applied:first,[o any prepayment charges due under the Note: second.to amounts payable uader paragraph 2: ..�• �'
<br /> third,to interest due;fourth,to principal due;and last,to any late charges due under the Note. _ ,� •_'---
<br /> • 4.Chargcg.Lteas.Boaower shall pay all taxes,assessments.charges,fines and impositions amibutable to the Propenl+ _ . ��-.^�--_-.-
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<br /> which may attain priority ovec this Securlty Instiumeat, and leasehold payments or ground rents, if any. Borrower shall pay _ _
<br /> these obligarions in the manner provtded in paraSrdPh 2,or if not paid in that manner,Boaower shall pay them on time directly �._.����_
<br /> to the person owed payment.Borrower shall promptly furnish to l,ender all notices of amounts to be paid under this paragraph. 9 -_
<br /> If Borrower makes these payments direaly,Boaower shall prompdy fureish to L�euder receipts e�►idencing the paymenta. '-;:��;=:�
<br /> � Bonower sball pmmptly discharge aay lien which has priority over this Security Insmunent unless Borrower:(a)agree.s in --.��'=s�-_
<br /> • writing w the payment of the obligation sec�ued by the lien in a manner acceptabls to Lender;(b)contests in good faith the lien .�'''�;?.�;:_
<br /> _ . by, or defends against enfanement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the ••�,��- '' • �-
<br /> . enforcement of the lie�;or(c)sec�ues fram the�older of the lien an agreement satisfactory to Lender subordinating the lien to � - ' ' .:�' �_ „
<br /> thls Security Insuument. If Lender determines that any part of the Property is subject to a lien which may attain priority over �.:� ,
<br /> . :: this Security Instrument,Lender may give Borrower a notice identif}ring the lien.Borrower sha11 sarisfy the lien or take one or � .
<br /> more of the actions set forth above within 10 days of the giving of notice. � . . . __
<br /> Form 3�20 9180 . �
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