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<br /> TOGETHER WITH all the improvemenu now or hereafter erected on the�r���e°nci�a���asemenGS.:�purterwnces.:u►d �
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<br /> fixwres now ar hereafter a pan of the property. All �eplacements and additions xh:ill al.a be covered by this Seruriry
<br /> ' Instrument. All of the foregaing is refetred to in this Security Instrument as the"Property." ' . -
<br /> BORROWEI2 COVENANTS that Borrower is lawfully sei�ed of the estate hereby conveycxi and has the right to grant and ..__
<br /> rom�ey the Property and that the Property is unencumbered, except for encumbr�nce� af reconi. Borrow•er u•arrants and will . _
<br /> defend generally the title to the Property a�ainst all claims and demanda.�ubject to any emumbrance,of record. • • : .
<br /> - 1'HIS SECUR[1'Y INSTRUMENT cambin�uniform covenants for national use and nomunifc�rtn covenants with limited • . _
<br />``' variduons by jurisdiction to ronstitute a uniform se�vrity instrument crn•ering m:►!property. - -------,
<br /> UNiFORM CO�ENANTS.Borrower and Lender covenant and agree as follows: .� •
<br /> 1. Payment of Principal artd lnterest: Prepayment and I.ate Chac�es.�orrow•er ,hali 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 /> _..T.:�
<br /> 2. Funds for Taxes and Uisusance. 5ubject to applicable law ar to a written waiver hy Lender. Borrower shall pay to ,_ .,, . _ _
<br /> Lender on thc day monthly payments are ciue under the Note.until the Note is paid in ftill,a sum("Funds")for.(a)yearly taxes :�.."� ,`'��__. _
<br /> and assessmenu which may attain prioriry over this Security Instrument as a lien on the Praperty:(b)yearly leasehold payments
<br /> or ground rents on the Property.if any:(c)yearly hazard ot pruperty insurance premiums;Idi yearly flood insuranes premiums. • ��`_
<br /> �.-�s.�•'`: .:;
<br /> ' if any: (e) yearly mortgage insurance premiur►u, if any:and(t�any sums payable by Borrower to Lender. in accordance with ,:_s„••�.
<br /> the provisions of paragraph S, in lieu af the payment of mortgage insurance premiums. Th�e items are called "Escmw Items-" • _ ---
<br /> Lender may, at any time, coUect and hold Funds in an amount not to exceed the maximum amount a lender for a feclerally •u, ''��—
<br /> ' related mortgage loan may require for Bonower's escrow account under the federal Real Estate Settlement Procedures Act of r,���_
<br /> 1974 as amended Prom time to time. 12 U.S.C. Section 2601 et seq. ("RESPA"),unless another law that applies to the Funds -_ ' �--
<br /> sets a lesser amount. If so, Lender may. at any tir,�e, collect and hoW FunJs in an amount not to exceed the lesser amount. � �: �-°``"`'
<br /> •�}:�',,' :r�- _—
<br /> � Lender may estimate the amoun[of Funds due on the basis of current data and reasonable estimates of expenditures of future �
<br /> Fscrow ttems or otherwise in accordance with applicable law. i�--' - �_�
<br /> The Funds shall be held in an institution whose deposits are insured by a federal agency. instrumentality. or entity ,'-j
<br /> (including I.ender,if Lender is such an institution)or in any Federal Home Loan Bank. L.ender shall apply the Funds to pay the � ;;;� -_
<br /> Escrow Items. L.ettder may not charge Borrower for holding and applying the Funds,annually analyzing the escrow acconnt,or "'•}� ��:
<br /> . ,.. �:�}�.
<br /> verifying the Fscrot.ItPms, unless Lender pays Bonowe�interest on the Funds and applicable law permits l.ender to make such � '''�
<br /> a charge. Howe�er.L.ender may require Borrower ta pay a one-time charge for an independent real estate[ax reporting service � • %,;(! r:
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<br /> used by Lender in connection tLith this loan, unless applicable law provides otherwise. Unle�s an agreement is made ot' 'R, • �, i� ..
<br /> applicable law requires interest to ne paid.Lender shall not be required ta pay Sorrower any interest or earnings on the Funds. , :_`�'.'
<br /> - Borrower and Lender may agree in writing.however, that interest shall be paid on the Funds. Lender shall give to Borrower, '_� '� �, - .:-�r'<,.
<br /> � without charge, an annual accounting of the Funds, showing credits and debiu to the Funds and the purpose for which each •'¢ '';
<br /> �, debit to the Funds was made.The Fund+are pt�dged as additional security for�II sums secured by this Security lnstrument. ,,,�„�. �.i��
<br /> ' If the Funds held by Lender exceecl the amounts permitted to be held by applicable law.Lender shaU account to Borrower ` "
<br /> for the excess Funds in accordance with the requiremenu of applicable law. If the amount of the Funds held by Ler.der at any " ''
<br /> �
<br /> time is not sufficient to pay che Escrow Items�tihen due.Lender may so notify Borcower in writing,and,in such case Bonower - �
<br /> � shall pay tu Lender the amount necessary to r,:ake up the deficiency. Borrower shall make up the deficiency in no more than . � ;- �
<br /> . '. '��!y'+�"'^.��
<br /> twelve monthly payments,at Lender's sole discretion. ��r•�-t-� '�
<br /> Upon payment in full of all sums secured by this Security Instrument. Lender shall promptly refund to Horrower any ::�
<br /> Funds held by Len6er. If,under paragrdph 21. Lender shall acquire or sell the Yroperty.Lender,prior to the acquisition or sale ry;�,,.:.�
<br /> of the Praperty, shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by �
<br /> this Security Instrument. ' R `'*�=`-�''"
<br /> 3.Appllcallou of Payments. Unless applicable la�v provides otherwisc,all payments reteived by Lender undcr paragraphs ;.,,.,�z,:�--._
<br /> 1 z.rs.."2 shall be applied: first.to any prepayment charges due under the Note: second,to amoun�s puyable under paragraph 2; � `
<br /> t1:ir�,to interest due:fourth,to principal due:and last.to any late charges due under thc Note. - ---r-•_:
<br /> • 4.Charges; Liens. Borrower shall pay all taxes,assessmcnts,charges, fines and impositians attributable to the Property -� � �_•
<br /> which may attain priority over this Security instrument, and leasehold payments or ground rents, if any. Borrower shall pay =_ �
<br /> �:. •
<br /> these obligations ia the manner provided in paragraph 2,or if not paid in:hat manaer. Barrower shall pay them an time directly �,t___�.��-y
<br /> � to the person owed payment. Borrower shall promptly furnish to Lender all natices of amounts to be paid under this paragraph. ��'""'
<br /> � If Borrower makes these payments directly.Bonower shall promptly fumish to[.ender receipts evidencing the payments. ��- �
<br /> Borrower shall pramptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)agrees in ; _w,�,�,�'ti ,.'"`�
<br /> ' writing to the payment of the obligation secuc�by the lien in a manner acceptable to Lender,(b)contests in good faith the lien �-1"�'k'-� -
<br /> "r by. or defends against enforcement of the y:=a in, legal proceedings which in the Lender's opir.ie� operate tu prevent the , �
<br /> enforcement of the lien:or(c)secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to : L* �
<br /> �� � this Security Instrument. ff Lender determines that any part of the Propeny is subject to a lien which may attain priority over -, . � � '�
<br /> '<,:} ::r�:v
<br />. this Security Instrument. Lender may give 8orrower a notice identifying the lien. Borrower shall satisfy the lien or take one or � �
<br /> more of the actiols set forth above within 10 days of the giving of natice. . , . _
<br /> Form 3028 9190 •.'��r'' •
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