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98-��-►�08�
<br /> 'I'OGL'1��-IER WITfI all the improvements now or hereafter erected on t e 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 Sec�rity Instrument.All of the foregoing is referred to in this Security Instrument as the "Property."
<br /> BORROWER C'OVENAN"TS that Borrower is lawf�illy seised of the estate hereby conveyed and has the right to
<br /> grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borr�wer
<br /> warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances
<br /> of record.
<br /> 'I'HIS SE('LiRI"TY INS"I�RUI��ENT combines uniform covenants for national use and non-uniform covenants �vith
<br /> limited variatirn�s by jurisdiction to constitute a uniform security instrument covering real property. �
<br /> UNIFORM COVENAN"TS. Borrower and Lender covenant and agree as follows:
<br /> l. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due
<br /> the principal of and interest c�n the debt evidenced by the Note and any Prepayment and late charges due under the Ncite.
<br /> 2. Funds for Taxes and Insurance. Subject to appiicable law or to a written waiver by Lender, Borrower �hall
<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 Lender, in accordance with the provisions of paragraph 8, in lieu of the payment of mortgage insurance
<br /> �remiums. These items are called "Escrow Items," Lender may, at any time, collect and hold Funds in an amount n��t
<br /> to exceed the maximum amount a lender for a federally related mortgage loan may require for Borrower's escrow
<br /> account under the federal Real Estate Settlement Procedures Act of 1974 as amended from time to time, 12 t1.S.('.
<br /> Section 2601 et seq. ("RESPA"), unless another law that applies to the Funds sets a lesser amount. If so, I.ender may,
<br /> at any time, collect and hold Funds in an amount not to exceed the lesser amount. Lender may estimate the amo�mt 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 /> The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality,or entity
<br /> (including Lender, if Lender is such an institution)or in any Federal I Iome Loan $ank. Lender shall apply the Iiunds to
<br /> pay the Escrow Items. Lender may not charge Borrower for holding and applying the Funds, annually analyzing the
<br /> escrow account, or verifying the Escrow Items, uniess Lender pays I3orrower interest on the Ftmds and applicable law
<br /> �ermits Lender to make such a charge. Iiowever, Lender may reyuire t3orrower to pay a cme-time charge f�,r an
<br /> independent real estate tax reporting service used by Lender in connection with this loan, unless applicable law provides
<br /> otherwise. LJnless an agreement is made or applicable law requires interest to be paid, Lender shall not be requirecl to
<br /> �ay I3orrower any interest or earnings on the Funds. I3orrower and I,ender may agree in writing, however, that interest
<br /> shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds, sho�r�ing
<br /> credits and debits to the Funds and the purPose for which each debit to the Funds was made. 'I'he I�unds are Pledged as
<br /> additional security for all sums secured by this Security Instrument.
<br /> If the I�unds held by Lender exceed the amounts permitted to be held by applicable law, I�ender shall account to
<br /> l�orrower for the excess Funds in accordance with the requirements of applicable law. If the amount of the I�unds held
<br /> hy I.ender at any time is not sufficient to pay the Escrow Items when due, Lender may so notify Rorrower in writing,
<br /> and, in such case Borrower shall pay to Lender the amount necessary to make up the deficiency. Borrower shal) make
<br /> up the deficiency in no more than twelve monthly payments,at Lender's sole discretion.
<br /> Lipon payment in full of all sums secured by this Security Instrument, Lender shall pmmptly refund t� Ii�rrc�wer
<br /> any l�unds held by Lender. If, under paragraph 21, Lender shall acyuire or sell the Property, 1,ender, prior to the
<br /> acyuisition or sale of the Property, shall apply 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 Payments. LJnless applicable law provides otherwise, all payments received by Lender under
<br /> �aragraphs 1 and 2 shall be applied: first, to any prepayment charges due under the Note; second, to amounts payable
<br /> under paragraph 2; third, to interest due; fourth,to principal due; and last, to any late charges due under the Note.
<br /> 4. Charges; I.iens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributahle tc� the
<br /> Prc�Perty which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br /> I��rr���ver shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Rorrower
<br /> shall pay them on time directly to the person owed payment. I3orrower shall promptly furnish to Lender all notices c�f
<br /> amc�unts to be paid under this paragraph. If Borrower makes these payments directly, 13orrower shall promptly furnish
<br /> tci Lender receipts evidencing the payments.
<br /> lic�rrower shall prom�tly discharge any lien which has priority over this Security Instrument unless Iiorrc�wer: (a)
<br /> agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, (b) contests in
<br /> good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opirzion
<br /> operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactc�ry to
<br /> Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the I'roperty is suhject
<br /> tc� a lien which may attain priority over this Security Instrument, Lender may give Borrower a n<�tice identifying the
<br /> lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of
<br /> notice. .
<br /> ��-6RINEI�szizi.oi P�yo z os s Form 302 9/1J
<br /> Initial
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