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<br />�' TOCETHER aVi'I'I-I all che improvemen�.s now or hereafter erecced on the propeny,and all ea�s��. �d < . . �
<br /> , .: :;�.�-
<br /> ; fixtures now or hereafter a part of the property. All replacemenu and additions shall also be covered by �his Securiry �. : , �
<br /> � Instrumen�All of We foregoing is referred to in this Security Insn'ument as the°Properry." , � -
<br /> , BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and das the right to grant and ,:
<br /> � convey the Property and that the Property is unencumbered,except for encumbrances of record. Bonower warranu and will _, . . .-
<br /> •� defend generally the titl�to the Property against all claims and detaands,subject to any encumbrances of record. 4, ""
<br /> 'TI�IS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenanu with limited � �
<br /> � variatians by jwisdiction to constitute a uniform securih• ,n�TM,^�ent covering real pro�erry. � ' : .°' }_
<br /> � iJNIFORM COVENANTS.Borrower and Lender covenan[and agree as follows: , , �T
<br /> 1. Payment of Prtncipal and lnterest; Prepaymeat aad Late Charges. Borrower shaU promptly pay when due the -
<br /> ' principal of and interest on the debt evidenced by[he Note and any prepayment and late charges due under[he Note. ;
<br />-'; 2. Funds for Taxes and lasvrance• 3ubject to applicable lav�or Fo a written waiver by Lender, Borrower sh�lj�ay�t�oS _ _ _, .. _�
<br /> i L.ender on the day monthly payments are due under the Note,until the Note is paid in full,a sum("Funds")far: (a)y y , , : :�s=_
<br /> � and assessmenu which may atrain priority ove;this Security Instmmen[as a lien on the Properry:(b)yearlY leasehold payments ; �;
<br /> e2i1 f10od incnran� teIDiuIILS. . �'
<br /> � or ground rents an the Property,if any;(c)Year1Y ha7ard or progerty insurance premiums:(d)Y Y P ..,: ,
<br /> s�ms a able b Borrower to L.ender,in acxordance with _::�:q�,;�.
<br /> „E if any; (e)Yeu1Y mortgage insurance premiums,if aay: and(� anY P Y Y _° ,.,r-. --
<br /> the provisions of paragraph 8, in lieu of the payment of mortgage uasurance preraiums.These items are called"Fscraw Items." ,:�:_
<br /> Leader may, ai any cime,collea and hold Funds in an amount not to exceed tke ma�cimum amount a lender for a federally • .�:
<br /> . . �--
<br /> ,i related mortgage loan may require for Borrower's escrow account under the federal Real Fstate Settlement Procedures Act of `.
<br /> 1974 as amended from time to time, 12 U.S.C.Seaion 2601 et seq. ('RESPA').unless anod►er law that applies to the Funds ;��}.�=�_.��-:_
<br /> sets a lesser amount. If so, Lender may, at any time, collect and hold Funds in aa amount not to exceed the lesser amount. _ ,
<br /> Lender may estimate the amotmt of Funds due on the basis of current data and reasonable estimates of expenditures of future _ �_==-_--
<br /> - . �.�r.�
<br /> Fscrow Items or otherwise in accordance with applicable law. •: -.
<br /> The Funds shall be held in an institution whose deposits are insured by a federal age�cy, instrumentalitY. or enriry -, :�__ ::-__
<br /> •• f�.,��.�;. .
<br /> .r:� (including Lender,if Lender is such an institution)or in any Federal Home Loan Bank.Leader shall apply��►eesero�w acco�t or
<br />;�r� Escrow Items.Lender may uot chazge Bnrrower for holding and apPlying the Funds, annually analyzing . _—
<br /> � o yerifying the Es�'ow Items,unless Lender pays Borrower in¢erest on the Funds and applicable law�permits Lender to make such _ " , ; �
<br /> � � '-,�.---;,
<br /> a c h a r ge.However,Lender may require Borrower to pay a one-time charge for an iadependent real estate tax reporting service .', ;..:
<br /> :�� used by Lender in co�e�bion with this laan, unless applicable law provides otherwise. U t iless an agreem e n t i s m a d s o r ' •:"�. '"i�; _
<br /> _,•� applicable law requires interest to be paid,Lender shall not be required to pay Borrower any interest or earnings on the Funds. ��_.'�►"ryxr' ��
<br /> that interest shall be paid on che Funds. L.ender shall give to Borrower, � � �''�+'.�...-
<br /> Borrower and Lender may agree in writinS.however. °'
<br /> without charge, an annual accaunting of the Funds, showing crediu and debits to the Funds and the purpose for which each ':•�, .�, '�',; ;.'�
<br /> debit to the Funds was made.The Funds are pied$ed as additional securiry for all sums secured by this Security Instrumeat. . ���. �'•` ::r.�.._.
<br /> If the Funds held by l.ender exceed the amounts permitted to be held by applicable law,Lender shall account to Borrower �. � �� ° ._� ;�,;����
<br /> for the excess Funds in ar,cordance with d►e requiremeats of applicable law. If the amowit of the Funds held 6y Lender at any _�'-��,.,,�i'�•
<br /> time is not sufficient to pay the Escrow Iteuss when due.Lender may so notify Borrower in writing,and.in such case Borrower � � � �
<br /> shall a to l.endet the amount necessary to make up[he defieiency. Bocrower shaU make up the deficieaey isi no more than � . .�`: '�.''r
<br /> P Y °i� � .�
<br /> twelve montiily payments,at L.ender's sole discretion. -
<br /> Upoa paymeat in full of all sums secured by �his Security lnsuument. Leuder shall pmmptiy r�fund eo Bonower aay :,� . . �y��-•
<br />-- Funds held by 4ender. !t,under paragraph 21. Lender sh�ll ncquire os sell the Properry,l.euder,prior to thc acquisition or sale ' �#�'.:
<br /> of the Property, shall apply any Bunds held by Lendet at[he time ot acquisition or sale as a credit against the sums secured by :,.•::.",
<br /> �`.T��
<br /> this Security lastrument. -�`-• ,
<br /> 3.Applicallon of Yayments.Unless applicable law provides otherwise,all payments recsived by Lender under paragraphs : •�.•_._;;,;._;;,
<br /> 1 aad 2 stlall be applied:fust,to any prepayment chazges due uader the Note;second,to amounu payable under paragraph 2: � —
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<br /> tbird.to interest due;fourth,to principal due;and last,[o any late charges due under the Note. ' �
<br /> 4.Charges;Llens.Borrower shall pay all taxes,assessments,charges. fines and impositions attributable to the Properry � ����
<br /> whIch may attain priority over this Sec�uiry Instrument. and leasehold payments or ground reuts. if any. Borrower shall pay ��`:`�:�Q��-
<br /> �t P Y y ��=-�.
<br /> tfiese obligat�ons in tha manner provided in paragraph 2.or if not paid in that manaer.Borrower shall a them on time directi ��.�__ �
<br /> •� � to the person owed payment.Borrower shall prompdy fumish to Lender aU notices of amounu to be pald under[his paragraph. h �
<br /> If Borrower makes these payments directly,Borrower shall promptly fumish to Lender receipts evidencing che payments. _ � ._. �_J_
<br /> Eorrower shall promptly discharge any lien wluch has priorlty over this Security Instn�ment unless Borrower: (a)agrees ln -��H���Y
<br /> "�...� -.�..�.;
<br /> wsiting co the payment of the obligation secured by the lien in a manner acceptable to Leuder;(b)contests in good faith the lien �,-
<br /> by, or defends against enforcemgnt of the lien in, legal proceedings which in the Lender's opiaion operate to prevent the , �
<br /> enfonxment of the lien;or(c)secures from the holder of the lien an agreement satisfactory to Lender subord'uv�tin�the lien to ��`___
<br /> M.,,.,...�
<br /> this Securiry Instrun►ent. If Lender determines that any part of the Property is subject to a lien which may attain priorlry over �� �"`°'"_�t •
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<br /> this Security Instnunent,Lender may give Borrower a notice identifying the lien.Borrower shall satisfy the lien or take one or � t �°_�-` •
<br /> more of the actions set forth above within 10 days of the givirwg of notice. "-wry�•-_, ..;,..T:�"� —
<br /> Form 3028 9I90 ��
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