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9$-iG3040
<br /> TOGETHI;R �VITII all the impro��ements now or hereafter erected on the property, and all easements,
<br /> appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered
<br /> by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the"Property."
<br /> DORROWI�R COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to
<br /> grant and convey the 1'roperty and that the I'roperty is unencumbered, except for encumbrances of record. Borrower
<br /> warrants and will defend generally the title to the Property against all claims and demands,subject to any encumbrances
<br /> of record.
<br /> THIS SECtIRI'I'Y INS'I'RUI�-[I;N'I' combines uniform covenants for national use and non-uniform covenants with
<br /> limited variations b3�jurisdiction tc�constitute a uniform security instrument covering real property.
<br /> UNIFORI�9 CC)VI;NAN'1'S. l3c�rrc��-ver and I,ender eovenant and agree as follows:
<br /> 1. Payment of Principa(and Interest; Prepayment and Late Charges. IIorrower shall promptly pay when due
<br /> the 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 "I'axes and Insurance. Sub,ject to applicable law or to a written waiver by Lender, Borrower shall
<br /> pay to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ("Funds") for:
<br /> (a) yearly taxes and assessments which may attain priority over this Security Instrument as a lien on the Property; (b)
<br /> yearly leasehold payments or ground rents on the Property, if any; (c) yearly hazard or property insurance premiums;
<br /> (d) yearly flood insurance premiums, if any; (e) yearly mortgage insurance premiums, if any; and (f) any sums payable
<br /> by Borrower to 1,ender, in accordance with the provisions of paragraph 8, in lieu of the payment of mortgage insurance
<br /> premiums. These items are called "I;scro�v Items." Lender may, at any time, collect and hold Funds in an amount not
<br /> to exceed the maximum amount a lender for a federally related mortgage loan may require for IIorrower's escrow
<br /> account under the federal Real I;state Settlement Procedures Act of 1974 as amended from time to time, 12 U.S.C.
<br /> Section 2601 et seq. ("RESPA"), unless anc�ttler law that applies to the Punds sets a lesser amount. If so, Lender may,
<br /> at any time, collect and hold I�unds in an amount not to exceed the tesser amc�unt. Lender may estimate the amount of
<br /> Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in
<br /> accordance with applicable law.
<br /> "I'he Funds shall be held in an institution �vhose deposits are insured by a federal agency, instrumentality,or entity
<br /> (including Lender, if I.,ender is such an institution)or in any Federal I iome I,oan �3ank. Lender shall apply the Funds to
<br /> pay the Escrow Items. Lender may not charge 13orrower for holding and applying the Funds, annually analyzing the
<br /> escrow account, or verifying the l;scrow Items, unless Lender pays 13orrower interest on the Funds and applicable law
<br /> permits Lender to make such a charge. Ilowever, Lender may reyuire Rc�rrower to pay a one-time charge for an
<br /> independent real estate tax reporting service used by Lender in connection with this loan, unless applicable law provides
<br /> otherwise. Unless an agreement is made or applicable law requires interest to be paid, Lender shall not be required to
<br /> pay l�orrower any interest or earnings on the I�unds. Borrower and Lender may agree in writing, however, thatinterest
<br /> shall be paid on the I�unds. I,ender shall gi��e to Rorrower, without charge, an annual accounting of the Funds, showing
<br /> credits and debits to the I�unds and the pur�c�se for which each debit co the I�unds was made. The I�unds are pledged as
<br /> additional securit} for all sums secured b�� tliis Security Instrument.
<br /> If the Funds held b�� I,ender e�ceed the amoUnts permitted to he held by applicable law, I,ender shall account to
<br /> Borrower for the escess l�unds in acce�rdancc ��-ith the requirements c�f applicable law. If the amount of the Funds held
<br /> by Lender at an�- time is not sufficient to pa� the Escrow Items when due, I,ender may so notify Rorrower in writing,
<br /> and, in such case }3orro���er shall �ay to Lender the amount necessar} to make up the deficiency. l3orrower shall make
<br /> up the deficiency in no more than t�velve monthly payments,at Lender's sole discretion.
<br /> Upon payment in full of all sums secured by this Security Instrument, l,ender shall promptly refund to Borrower
<br /> any I�unds held by Lender. If, under paragraph 21, Lender shall acyuire or sell the Property, Lender, prior to the
<br /> acquisition or sale of the I'roPert3�, shall appl�- any Funds held by Lender at the time of acquisition or sale as a credit
<br /> against the sums secured by this Security Instrument.
<br /> 3. Application of Yayments. �'nless applicable law provides otherwise, all payments received by Lender under
<br /> paragraphs 1 and 2 shall be a��lied: first, r.c� �n�� prepayment charges due under the Note; second, to amounts payable
<br /> under paragraph 2; third, to interest.due; f��urth, to principal due; and last,to�n�� late charges due under the Note.
<br /> 4. Charges; Liens. 33c>rro���er shal] ��a� all taxes, assessments, charges, Fines and impositions attributable to the
<br /> Property which may attain Priorit� ��ver this Security InstrUment, and leasehold payments or ground rents, if any.
<br /> Borrower shall pa}� these obligatic�ns in the manner provided in paragraph 2, or if not paid in that manner, Borrower
<br /> shall pay them <�n time directl}� tc� the person o��•ed payment. I3orrower shall promptly furnish to I,ender all notices of
<br /> amounts to be paid under this paragraph. IF 13orrower makes these payments directly, Borrower shall promptly furnish
<br /> to Lender receipts evidencing the payments.
<br /> Borrower shall promptly discharge an} lien which has priority over this Security Instrument unless Borrower: (a)
<br /> agrees in writing to the payment of the obli�ation secured by the lien in a manner acceptable to Lender; (b) contests in
<br /> good faith the lien b}�, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion
<br /> operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to
<br /> Lender subordinating the lien to this Securit.�� Instrument.If Lender determines that any part of the Property is subject
<br /> to a lien which ma} attain rric�rir,�� c��er this Security Instrument, I.ender may give Borrower a notice identifying the
<br /> lien. Rorrower shall satisf}� the lien c�r take r�ne or more of the actions set fc�rth above within ]0 days of the giving of
<br /> notice.
<br /> �-6R(NE)�9z iz�.o� Form 3028 9/�0
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