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<br /> ` TOGETHER WiTH 311 the improvements now or hereafier erected on the propen}•,and sll ea+ement..appurtenanre..snd . , . ,
<br />� •�:i tixwreti now or hereaftet a part uf the propert}•. AU replacements and additions shull a:so be �uvercYi b}• thiti Security +• „ •
<br /> � � Iatitrument.A!I ��f the foregoing is referted to in this Security Instrument a,the"f'mpeny." `'
<br /> �k BORRQWER COVENA[VTS that Bor�auer is ta«�fully sei,ed oF the ctitatc hembq �ron+•e}•ed and ha,the right t�z grant and . ' � • °� •
<br /> ~' rum•ey the Property and thac ehe Pmpeay i� unencumbered, except fi�r encumbrances of rt.�ord. Borrou•er warrant�and will _ •�
<br /> � defend generally the title tu the Property against all claims and demands,subject to any encumbrances of rerurd. . � ., -
<br /> `'-� THIS SECURITY [NSTItUMENT combines unifortn covenams for national u+e and non-uniform covenants with limited -- --- -r---- - �
<br /> � variations by jurisdiction ro constitute a unifarm security in�trument covering real property. •• � . `.
<br /> � UNIFORM COVENANTS. Barxuwer and Lender cuvenant and agree as fo►lows: , .�
<br /> ' 1. Payment of Principal and Interest; Pcepayment and Late Charges. Borrower shall promptly pay when due the � - -- -
<br /> � principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. , ^- --_� � _ :
<br /> , � 2. Funds for Taxes and dnsurante. Subject to applicable !aw or to a written waiver by Lender. Borrower shall pay to - __ -
<br /> ` Lender on the day monthly payments are due under the Note.unul the Note is paid in full,a sum("Funds")for:(a)yearly saxes . ' -- ` �`
<br /> F �
<br />• ,: and assessments which may attain priority over this Security Insuutnent as a lien on the Property:(b)yearly leasehold payments � '
<br /> or ground rents on the Propem. if any:(c)yearly hazard or properry insurarice premiums;(d)yearly flood insurance premiums. �'Y�
<br /> if any: (e)yearly mortgage insurance premiums, if any:and(�any sums payable by $orrower to l.ender. in accordance with � �-
<br /> . the provisions of paragraph 8, in lieu of the payment of mortgage insurance premiums. 7hese items are called"Escrow Items." �, ',_, 'f-'�" �-
<br /> Lender may, at asyy time, coliect and hold Funds in an amount not to exceed the maximum amount a lender for a federally . , � -- �
<br /> related mortgage loan may require for Borrower's escrow� account under the federal Real Fatate Settlement Procedures Act of � • � "'
<br /> �r= -
<br /> 19'�as amended from time to time. 12 U.S.C. Section _'S01 et sry. ("RESPA"). unless another law that appli�to the Fuads ,i;,=''.� , :_ �"p,,��
<br /> seu a lesser amount. If so, l.ender may, at any time, collect and hold Funds in an amount not to exceed the tesser amount. �;;;�,,�:r,'�;�•�:��;�
<br /> j:4 Lender may estimate the amount of Funds due on the basis of current data and re�asonabte estimates of expenditures of futum ��-`�`' .
<br /> ,"�� Escrow[tems or otherwise in acwrdance with applicable law. ,'. ; -
<br /> The Funds shall be held in an instiwtion whose deposits are insured by a federal agency, instn►mentality, or entiry ::•:��.'�? �' � •
<br /> (including L.ender,if Lender is such an institution)or in any Federal Home Loan Bank. Lender shall apply[he Eunds to pay the ��',.�';-;� ��� � .�;;: -
<br /> � Escrow Items. Lender ma not char e Borrower for holdin and a 1 ro the Fuads,annuall anal zin the escrow account,or ``.`':'2�'` ;.
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<br /> � verifying the Escrow Items,unless Lender 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 reponing service �^ � ., �• ` ,
<br /> used by Lender in connection with this loan, unless applicable law provides otherwise. Unless an agreement is made or ��•`•��°
<br /> applicable law requires interest to be paid, I.ender shall not be required to pay Bonower any interest or eamings on the Funds. .:,:,�a ���;} .
<br /> Botsower and Lender ma a ee in writin� however, that intetest shall be aid on the Funds. L.ender shall rve to Borrower, �`'�� ;`
<br /> Y 8r b• P 8 ,,. �� �
<br /> without charge, an annual accounting of the Funds, showing credits and debits to the Funds and the purpose for which each '���`�"'. , ';;.�`�� -
<br /> • �� debit to the Funds was made.7'he Funds are pledged as additional security for all sums secured by this Security Instrument. " '` "� ��•'• �
<br /> .,�; _ ,,
<br /> If the Funds he[d by Lender exceed the amounts permitted to be held by applicable law, Lender shall account to Borrower !�t' � ` °
<br /> for the excess Funds in accordance with the requirements af applicable law. If the amount of the Funds heid by Lender at any `.-:;�: " �� �;. �-4�",;'..
<br /> � time is not suf6cient to pay the Escraw Items when due.Lender may so notify Bonower in writing,and,in such case Borrower '� -�"'"`'
<br /> shall pay to Lender the amaunt necessary to make up the deficiency. Borrower shaU make up the deficiency in no more than . y �� �%,;�_
<br /> twelve monthly payments,at Lender's sole discretion. � �..s:�-�.
<br /> - Upon payment in full of all sums secured by this Security Instrumen[, Lender shall promptty refund to Borrower any � J���
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<br /> Funds held by Lender.if,under para�raph 21, l.ender shall acquire or sell the Properry. Lender,prior to the acquisition ar sale .�.v�:•=
<br /> • -�-_-:...--..-.... .
<br /> of the Property,shaU apply any Funds held by l.ender at the time of acquisition or sale as a creidit against the sums secured by .,='•`.;;�E:+r�i� - •:
<br />' this Security Instrument. - -
<br /> 3.Applieation of Payments.Unless applicable law pmvides otherwise.all payments received by l.ender under paragraphs '
<br /> , 1 and 2 shall be applied: first, to any prepayment charges due under the Note: second, to amounts payable under paragraph 2: =��' _ �.
<br /> �:x:-��-__
<br /> . third,to interest due:fourth,to principal due:and last,to any late charges due under the Note. �°"`�-�=•:
<br />. 4.Charges;Liens. Borrower shall pay all taxes,assessments, charges, fines and impositions attributablc to th:Propeny : .,,,,_ ' -
<br /> which may attain priority over this Security Instrument, and leasehold paymen�s or ground rents, if any. Borrower shall pay ���
<br /> these obligations in the manner provided in paragraph 2,or if not paid in that manner. Borrower shall pay them on time directly '� _
<br /> � to the person owed payment.Borrowcr shali promptly fumish to Lender all notices of amounts to be paid under this paragraph. .3 �� • m�.
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<br /> If Borrower makes these payments directly.Borrower shall promptly furnish to Lxnder receipts evidencing the paymenu. ;`::. •:^Y�
<br /> H o r r o w e r s h a l l p r o m p t l y d i s c h a r g e a n y l i e n w h i c h h a s p ri o ri t y o v e r t h i s S e c u r i t y I n s t r u m e n t u n l e s s B o r r o w e r: (a)a g r e e s i n � "'� ,R �������''
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<br /> writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b)contests in good faith the lien ��;�""'�'�`- " ��
<br />� . by, or defends against enforcement of the lien in, legal proceedings which in the i..ender's opinion operate to prevent the '"��'�''`-=`�
<br /> enforcement of the lien:or(c)seeures from the holder of the lien an agrcement satisfactory to Lender subordinating the lien to ``""� � �`�t�.r'""�
<br /> _.•:r.}'X'r�Slat`*�'`^
<br /> this Security Instrument. lf Lender determines that any part of the Property is subject to a lien which may attain priority over � •• -��.
<br /> . this Security Instrument,L.cnder 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 giving of notice. ; . - .
<br /> Form 3028 9l90 '
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