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<br /> 'POC',ETI�R WITH all the anprovcmr,�ts now or hercaftcr croctr,d an thc property. und ull casemcnt�, apparccn:uiccs.and .
<br /> fixaues now or hereaftr,r a part of the propeny.All repla�xments and a�d►ui�ns ahall alsn hc c��vcrcd by ihiv Saunry lnswmcnG ; ,
<br /> All of tke foregoing is retecred w w this Sec�uity Insuume�t��he"Propeny,.' . •
<br /> BORROWER COVENAN7'S that Bortotvcr is FawfuUy scised of tS�c csl�tc hcreby cun�cycd und h�a thc�ght w grant and . ��. �-
<br /> canvey the Pcope�ty and lhat ihe Property is unencum6ered, except for encumbrancew o( recard. [lorrower warrant�and will ,
<br /> defcnd generally the tide to the Property against all claims and demands,suhjcct to any encu�nhruncev uf record.
<br /> TEIIS SECURIT'Y 1N5'IRUI�NT combincs uniform covenanls [ar naticu�! u� nnd nnn•�ndorm cnvcnants w►th l�mitcd -
<br />' vazialions by jurisdiction ro constitute a uniform scturiry inswment covcring rcal pruperty . . �
<br /> UNIFORM COVENAN7'S.Borrower and Lender covcnant and ngroc as[ollowq: . ;
<br />� 1.Payment o?Prindpal and Iaterest;Prepayment and Late Cdarqes. Uorrawcr �h�ll prompily pay whcn dur Ihc • • . .. ,
<br />; principal of and interest on the debt evidenced by the Note as►d anY P�PaY�nt and late charger due unQer the Nate. , �
<br /> Z.Funds for Taxes aaaf Insurance. Subject to applicable law or tn a tivritten wn�vcr hy l.ender, Borrower shall pay w
<br />{ Lender on the day monthly payments are due under thc Note.until thc Nate is paid in tull,n sum("Funds") for.(a)ycarly taxes .._� :
<br />� and assessments which may auain pr'rarity over this Security Insuument as�licn an thc Propcny: (b)Ycarly Icaschald paYmcnts •
<br /> j ot•gronnd renu on the Property.if any:(c)Yearly ha�ard or propeity insurat►ce premiums:(d)Y�ariy Qoad insurartce premiums,if • _ -
<br />� any:(e)Yearly mongage insurance premiums.S a�►y:and(�any sums payahlc by 13orrowcr to Lender,in�td�rtcc with the : r',--"°--
<br /> provisions of paragraph S, in licu of Ihe payment of mortgage insurancc prcmiums. 'ihcse rtcros arc callcd "Escrow Items." � �
<br /> L,ender may.at any ame,callect and hold Funds in afl amount not to eaccccd the maximum amaunt a Icnder fior a federally relat�d ; , " ��: �--l--
<br /> mortgage loan may reqnire for�otrowu's escrow account under the federal Real Estate Sculemc�t Procedures Act of t974 as i . _ � `r��_
<br /> asn¢nded from time tn time. 12 U.S.C.Sccaon 2601 et seq. ("RESPA"),unl�ss anothcr law Ihat npplics t,o thc Funds scts a lesser �, . . .:. _
<br />� amoun�If so, Lender may.at any time,coltect and hold Funds in an amount not to eRCCCd thc Icsscr amoun� L.cndcr maY i ' • e•�.�=;.
<br />� estimate the amount of Funds due on the basis of current dsta and m,asonablc estimatcs of cxpcnditures oi[uturc Escrow items or :� �+
<br />; oiherwise in accordance with applicable law. �
<br />� 'Rie Funds shall tse held in aa instiwtian whase deposits are insured by a federa!agency,insuumcntality.or entily t�►cluding ,. ��%�:
<br /> ! Lender,if Lend�is such an institution)or in any Federal Home Loan Bank.i�d�shall apply Ihe Funds w pay the Escrow .
<br />� Itams.I.ender may not charge Borrower for holding and applyiag the Funds,annually an�lyr.ing the escrow accoun�or verifying . 4 .
<br /> ; the Escrow Items,unless Lenda pays Borrower int�est on the Funds and applicable law permits Lender to meke such a charge. . :1
<br /> However,Lender may req�ire Borrower to pay a one�time char�e for an indcpendcnt real cst�ce tax ecporting ser�rtcc uscd by �,
<br />.' I.ender in coruiecdan with tl�iis loan.unless applicable law provides otherwise. UNess an egrc�eracnt is made nr applicahle I�w � .r�, -
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<br /> � req�ires interest to be paid.Lender shall not be required w pay Borrower any interesi or camings on thc Funds. Borrower und . . .• _;. �:
<br /> Lenda may agtee in writing,however.that inuaest shall be paid on the Funds.L.cnder shall give to Borrowcr.without charge,an •,� .
<br /> i annual aceouniing of the Funds,showing credits and debiu to the Fun d s an d�he purpose for w hic h c a c h d c b i t t o t h c F u n ds wo.v _. � ;
<br /> � made.lt�e Funds are pledged as addiuonal securiry for all sums secured by this Security Inst�umen� ;V'�,
<br /> � If the Funds held by Lender eaceed the amounts permiaed to be held by applicabte law.Lender shal!account w Borrower for :",�:� �
<br /> the eacess Fwtds in accordance with the requiremQnts of applicabie law.If the amount of the Funds held by l.e n der at any time is �:,.�_,.: .
<br /> ., �� a
<br /> � not sufficient to pay the Escrow Items when dae,Lender may so notify Borrower in writing,and.in such c,ase Borrower shall pay , . i'; .. �
<br /> to Lender the amount necessary to make up the defcciency. Borrower shall make up the deficiency in no more than twelve ��;,�.;,�•. :�' -'�
<br /> � monthly PaYments,at Lender's sfl!e discretion. ", �`� �. '�-�
<br /> Upon payment in full of all sums secured by this Sccurity Instrumcnt,Lender shall prompdy refund to Barrower any Funds � ��•
<br /> � � held by Lender.If,under pFUagiaph 21,Lender sha11 acquire or setl the Property.t.cnder.prior to the acquisition or snle of tho r ''��� _�-
<br /> u� _:.�
<br /> pmgeary,shall apply any Funds held by Lender at the time of ar,quisition or sale as a credit against the sums secured by Ihis � » .:,•
<br /> � SCCUfity IASflUIItCI1L ��. �T� =
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<br /> 3.Appllcatba of Paymenta Unless appGcable law provides otherwise,all payments rcccivcd by Lendcr undcr paragmphs . , �_
<br /> 1 and 2 shaU be applied: first, to any prepaymeat charges due under the Note:second.to amounts paynble under pamgmph 2: _ � � '
<br /> third,to interest due:fourth.to principal due:and last,to any late chargcs due under the Notc. � • : �"��'�
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<br /> 4.C6arges:Liens. Boaower shall pay all taaes, assessments,charges,fincs and impositIons amibutablc w the Property . _„„�,� _: ::
<br /> which may ausin priority over this Security Instrument,and leasehold payments or ground rents.if any.Horrower shall pay thes� �..;�, ��-_�
<br /> obligations in the manner provided in paragraph 2.or if not paid in that manaer,Borrower shall pay them on dme d'uccUy w lhe . �..:
<br /> person owed paymsn� Boirower shall prompdy fumish co l.ender all norices of amounts to be paid undar lhis parugraph. If';'��'"'�'` �� -
<br /> Horrower makes these payments direcdy,Borrower shall prompUy f�unish w Lender rcceipts evidencing the payments. �`: �•i
<br /> Borrower shall promptly discharge any lien which has prioriry over this 5ecurity Instrument unless Horrower. (a)ngcces in . .
<br /> writing w the payment of the obligation secured by the lien in a manner acceptable tn Lender,(b)contests in�ood fui1D�the lien �. . . �- �
<br /> by, or defends against enforccment of the lien in. tegal proceedings which in the Lendcr's opinion opcmte to prcvcnt thc , : : , ..
<br /> enforcement of the lien;or(c) secures from the holder of the lien an�greement satisfactory to l.ender subordinaung the I�cn u► � ,�,�;�,r..
<br /> this Socurity Insuument If I.ender determines that any part of the Property is subjcxt to a lien which may ntLVn priorlty ovcr this . :
<br /> Securiry Instrument,Lendcr may give Bonower a notice identifying�he lien.Borrowcr shall sausfy thc I�en or tnicc onc or mnrc . �
<br /> of the acdons set forth above within 10 days of thc giving of notice. " .
<br /> Forn�so��o�ao
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