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<br /> - 97- 9.o�Si � -_
<br /> i 'POGETEiER VY1TH all tAe impravements now ot hereafter crected on t6e property,and a!1 easements.appunenances,and • w .
<br /> � fixuues naw or hereafter a part of the property.All re�lacements and additions shall also be covered by this Security Instrument • �`�,;�;;
<br /> { All of the fongoing is referred tn in ihis Security Instrument as Ne"Property.' . "--'
<br /> i BORItOWER COVFNANTS thai Borrower is Iawfully seued of the estate hcreby conveyed and has the right to gant and ._ .
<br /> convey tf�e Property and that the Property is unencumbered, cacept far encumbrences of record. Borrower warrancs and will i : , .
<br />, defend genecally the title tn the Property against all claims and demands,subjocc to any encumbrances of record. � � —
<br /> THIS SECLJRITY INSTRUIV�NT combines nniform covenanb for nadonal use and non-uniform covenants with limitr.d •
<br />- variations by jurisdiction to constiwte a unifom�security insuument covering real pmperty. . - - - -.--. ---_
<br /> UIVIFORM COVENANT'S.Borr�wer and Lender wvenant and agree as foltows � .
<br /> 1.Payment of Prencipal and Interest;Prepayment and Lale Charges. Borrower shall prompdy pay when due the . " •
<br /> principal of and interest on the debt evidenced by the PIote and any prepayment and late charges due under the Note. � . . -.
<br /> 2.Fands for Taxeg and Insaraate. Subject to applicable law or to a wriuea waiver by Lendea, Bonower shall pay to � .` .. _ „ .
<br /> Lendr.r on the day montbly payments are due under the Nate,until the Note is paid in full,a sum("Funds")for.(a)yearly taxes i � . • • ' _ '
<br /> , and assessmenLs which auay auain priority over this Securiiy InsGrument as a lien on the Progerty;(b)yearly leasehold gaymenu i,. � ;_.. ._ __
<br /> or ground rentc on the Propeaty,if any;(c)Yearty 6azard or property iasurance premiums:(d)Yearly flood insurance premiums,if ; • . -______
<br /> a any;(e)Yearly moitgage insurance premiums,if any;and(�any sums payabte by Borrower to Lender,in accordance with the � • . � `
<br /> i provisinns of paragraph 8,in lieu of the payrnent of mortgage insurdnce premiums. 7hese items are called "Fscrow Items." _=-__
<br /> . LQndes may,ai any time,collert and hold Funds in an amount not to exceed the maximum arnount a leudes for a fedeially celated � -°a=`- -_-- -_
<br /> =, .��,�_ _,.
<br /> • martgage loan may require for Borrower's escrow account under ihe federal Real Esrate Senlement Procedures Act of 1974 as � . . �� :$��,_
<br /> • amended from wue to ume,12 U.S.C.Secoion 2601 et seq. ("RESPA").unless another law that applies to the Funds sets a lesser i. � ,'��;":
<br /> . amount If so,Lender may, at any Bme,collect and hold Funds in an amaiunt not to exceed the lesser amount I.ende�r may � •, }.. __ .,':�'
<br /> � esti�mate tt�e amount of Funds due on the basis of current data and reasnnable estimstes of e�cpendiwres of fuwre Escxow Items or � .s;�_�=`
<br /> otherwise in acaordance with applicabls law. . �'==�'-
<br /> The Funds shall be he2d in an instiwaon whose deposits are ins�ued by a federal agency,instrumentality,or entiry(including , • � '��"' _k=;;�'F��
<br /> .�G� L.euder,if I.ender is such an institution)or in any Fedeaal Home Loan Bank. Lendea shall apply the Funds to pay ihe Fscrow F
<br /> ' Items.Lea�s may not c6arge Botrower for holding and applying the Funds,annually analyzing the e�crow account,or verifying ! "p.�• _
<br /> CT
<br />• the Escmw Itans,imless I.ender pays Borrower interest on the Fu�ds and applicable law permits Lend�to make such a charge. -
<br /> . However,Lender ma r uire Borrowea w a a an�tirne char e for an iad endent mal estate tax ortin seavice used b �' A_
<br /> Y �I P Y 8 eP �P 8 Y � �. . .`��.
<br /> Leader in connecaon wid►this loan.nnless applicable law provides otherwi5e. Unless an ageenaent is made or applicable law •• �'
<br /> requires interest w be paid,Leader shall not be required tn pay Borrowes auy interest or earnings on dze Funds. Boirowea and . `
<br /> Lender m�y agree in writing,however,that interest shall be paid on the Funds.Lender shall give tn Borrower,without charge,an . •�":"_
<br /> : annual aco;,::nting of the Funds,showing credits and debits to the�unds and dee purpose for which each debit to the Funds was . •�_;��:;_ .i
<br /> made.'Ihe F�ds are pledged as additional security for all sums secn�:�by tbis Security Instrument
<br /> If the Funds held by L.ender exceed ihe amounts pemiitted to be held by applacable law,Lender shall account to Boaowe.r for ' � ;�:'� �
<br /> the eacess Funds in acc�rdance with the requsrements of applicable law.If t�e amount of the Funds held by Lender ai any wne is , ';� � ���
<br /> _ not safficient to pay the Fscrow Items when due,Lender may so notify Borrower in writing,and,in such case Boirower sh?�l pay :-..;,� ' j .�'
<br /> to Lender the amount necessary w make up the deficiency. Boraawer sha� make up the deficiency in no more than tR��ive '' '-�> ; ;��
<br /> monthly payments,at Lender's sole discredou. � � `'-`.���
<br /> U n ent iu f u t l o f a ll sums s e c u r e d b t h i s Securi I n smiment,L e rt der s l�a a l l rom re fun d to Borrower an Fua d s .-� •�-_
<br /> W PaYm Y �Y »P P�Y Y :�::�� _
<br /> held by L.ender.If,und�paragraph 21.I.ender shall acquire or sell the Properiy,Lertder,prior w the acquisirion or sale of the �„��,�„' %`'�--''�"
<br /> Property+,shall appiy any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by this "���-��
<br /> Seanrity Insmuaent � :�:�' -::—:.�`
<br /> :,�,:t.
<br /> 3.AppHcation of Pxymenta. Unless applicable law pmvides o�heawise,all payments received by Lend�under paragraphs :.�s1.;;�.-
<br /> 1 and 2 st�aall be applied: 6rst,tn any prepayment charges due under the Note; second,to amounts payable under paragraph 2; .. , '
<br /> � third,w interest due;fomth,to principal due;and last,w any late charges due under the Note. ...;;,;.r�.--�=� -
<br /> ; �?
<br /> 4.Charges;Liens. Borrower shall pay all taazs,assessments,charges,i=�es and 'un}rosiuons ataibatable to the Property { ��.R
<br /> which may aitain prioriry over this Securiry Instrument,and leasehald payments or ground r�:s,if any.Horcower shalt pay these , "'M��s'�'.—=��—y�
<br /> obli ons ui the mazmer rovided in h 2,or if not aid'ci that manaer,Borrower shall r":- - -
<br /> B� F P�P P PaY ihem on time directly m the �.�:,y��-_
<br /> peason owed payment Borrower shall prompdy fumish to Lender all norices of amounts to be paid unda this paragraph. If � • ,.:,�:;:?_• •�. _
<br /> Borrower makes these payments direcdy,Borrower shall prompdy fumish to Lender receipts evidencing the payments. �� � _ �
<br /> Borrower shaU prompdy discharge any lien which has priority over this Securiry Insuument unlcss Borrower: (a)a�gees in ' . , �
<br /> writing to the payment of the obligation secured by the lien in a manaer acceptable to Lende3:(b)contests in gaod faith the lien �• . �..�.�-
<br /> n
<br /> by. or defends against enforcement of the lien in, legal proceedings wtuch in the Lendea's opinion operate to prevent the � --= =�.�_
<br /> enfozcemea:t of the lien;or(c)secures trom ihe holder of the lien an ageement sadsfactory to Lenda subordinaring the lien to .: . —
<br /> this Security Inswme;it F€Lender determines that any part of the Property u subject to a Gen which may attain priority over this � .'
<br /> Secarity Insuument,Lendea may give Borrower a notice identifying ihe lien.Boaower shall satisfy the lien or talce one or more ' '
<br /> of the actons set forth above within 10 days of the giving of notice. � . �
<br /> Form SOaB 9/80 � ,' ' _
<br /> �-6R(N�192721.ot vage2ote imtiais: . . � � �
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