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<br /> . 97°' 11����'5 ` ` . � ` . -.=
<br /> TOGETHER WITH all the improvemenu now or hereafter erected on the property,and all easemenu,appunenances,and , ,�t:.
<br /> fixtures aow or hereafter a part of the properry. All replacements and additions shall also be covered by this Secutity �t , ` .
<br /> Insuument. All of the foregoing is referred to in this Securiry Instrument as the "Properry." � -
<br />•. BORROVi/ER�OVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and .
<br /> convey th� Property and that the Progerry is unencumbered, except for encumbrances of record. Borrower warrants and will
<br /> � � defend generally the title to the Property against all claims and demands,subject to any esicumbrances of record. I ,
<br /> _ THIS SECURITY INSTRUMENT combines uniform covenants for aational use and non-uniform covenants with limited � , • . , .
<br />--- variations by jurisdiction to constimte a uuiform securiry inscrument covering rea!property. .-� -- -- =
<br /> UNIFORM COVENANTS.Borrower and Lender covenant and agree as follows: ' �'• � �•.
<br /> � .
<br /> � 1. Payment af Prtncipal and Interest; Prepayment and Late Charges. Boaower shall 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 /> i 2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to f ' � `• •� :
<br /> 1 Lender on the day monthly payments aze due under the Note,unti!the Note is paid in full,a sum('Funds')for:(a)yearly taxes • ' � -
<br /> I� and assessmenu which may attain priority over[his Securiry Insuument as a lien on the Propzrty; (b)yearly leasehold payments � ^
<br /> or ground rents on the Property, if any;(c)yearly hazard or property insurance premiums;(d)yearly flood insurance premiums, ; . . •.. .-=--°--
<br /> if any; (e)yearly mortgage insurance premiums, if any; and(�any sums payable by Borrower to Lender. in accordance with � . , . �'��`�" =�
<br /> the provisions of paragraph 8,in lieu of the payment of mongage insuranse premiums.These items are cxlled"Escinw Items." • � ''�`"'
<br /> � . r ;�. ::.. -
<br /> Lender may,at any time, collect and hold Funds in an aznount not to excxed the maximum affiount a lender for a federally . ?a
<br /> • relazed mortgage loan may require for Borrower's escrow account under the federal Real Estate Settlement Proadures Act of � ,:�,r ��-_
<br /> 1974 as amended from 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, I.ender tnay, at any time, collect and hoid Funds in as�amount not to exceed the lesser amount. ' • .
<br /> Lender may estimate the amount of Funds due on the basis of current data and rea�onable es6mates of expenditures of fuwre :.. � ` �b " —
<br /> j Fscrow Items or otherwise in accordance with applicable law. - -- -
<br /> The Funds shall be held in an institution whose deposits are insured by a federal agenry, instrumentality, or entity � � .. . � ��� �-
<br /> (including Lender,if Lender is such an institutioa)or in any Federal Hame Lcan Bank.I.ender shall apply the Funds to pay the �� s''
<br /> . ,�:
<br /> Escrow Items. L,ender may not charge Borrower for holding and applying the Funds,annually analyzing the escrow account,or � �•
<br /> verifying the Fscrow Items, unless Lender pays Borrower interest on the Funds and applicable law permiu Lender to make such � ` �. _._:`'`�,�' `
<br /> �
<br /> a charge.However,I.ender may require Borro�ver to pay a one-time charge for an independent real estate tax reporting service
<br /> used by Lender in connec[ion with this loan. unless applicable law provides otherwise. Unless an agreement is made or � ��.•�r'� ,''.
<br /> applicable law requires intcrest to be paid,Lender shall not be required to pay Borrower any interest or earnings on the Funds. ;�; , �
<br /> Borrower and Lender may agree in writing, however, that incerest shall be paid on the Funds. Lender shall give to Borrower. " �;:. ..� �� �-
<br /> cvithout charge, an annual accounting of the Funds, showing credits and debits to the Funds and the purpose for w6ich each ,°�T• � �� `
<br /> debit to the Funds was made.The Funds are pledged as additional securiry for all sums secured by this Security Instrument. '���� •��'�;�. � �
<br /> If the Funds held by L.ender exceed the amounts permitted to be held by applicable law,Lender shall account to Bonower � `�'�"� ' 9°
<br /> for the ezcess Funds in accordance with the requirements of applicable law. If the amount of the Fuuds held by Lender at any , �� �. '
<br /> . -�e�: '-f,. '�. -
<br /> rime is not sufficient to pay the Escrow Items when due,Lender may so notify Bonower in wtiting,and.in such case Borrower �s �.T
<br /> • shall pay to Lender the amoun[necessary to make up the deficiency. Borrower shall make up the deficiency in ao more than �� �
<br /> twelve ruonttily payments,at Lender's sole discretion. � ��r ;���^
<br /> Upon payment in fuU of all sums secured by this Securiry Instrument, Lender shall promptly refund to Borrower aay ,•�±. �,�1�%' L'�`�
<br /> � Funds held by I.ender.If.under paragraph 21.I.cnder s►�all acquire or sell the Property.Lender.prior to the acquisition or sale '��°,�;�==�� ' '
<br /> of the Properry,s h a l l app ly any Funds held by I.ender at the time of acquisition or sale as a cmdit agains[the sums secured by -- �--
<br /> this Security Instrument. '��'.g�a-
<br /> 3.Appltcatton of Payments.Unless applicable law provides osherwise,all ppymenu received by Lender under paragraphs . - � '
<br /> 1 and 2 shall be applied: first,to any grepayment charges due under the Nose; second,to amounts payable under puragraph 2; � _.:.,,;��'^ �_
<br /> third,to interest due;founh,to principal due;and last,to any late charges due under the Note. .u_i����.'
<br /> • 4.Charges;Lteas.Borrower shall pay all taxes, assessmencs, charges, fines and imposidons attributable to the Property "�""°"���-� �-�°
<br />_ rRa,4;'�- .,
<br /> which may attain priority over this Serurity.Insuument, and leasehold paymenu or ground rents, if any. Borrower shall pay "��,
<br /> these obligations in the manner provided in paragraph 2,or if not paid in that manner,Boaower shal!pay them on time directly _,.;�.,�.�, r. �
<br /> to the person owed payment. Borro�ver shall prompdy fumish to Lender ull notices of amounts to be paid tmder this paragraph. . - : '�..
<br /> If Borrower makes these payments direcdy.Boaower shall promptly furnish to Lender receipts evidencing the payments. �,-�'�-=,;; •: ;•�:.;..•
<br /> Borrower shall promptly dischazge any lien which has priority over this Securiry Instrument unless Boaower:(a)agrees in � .
<br /> writing to[he payment of the obligation secured by the lien in a manner acceptable to Lender.(b)contesu in gaod faith the lien � _ • '` '
<br /> by, or defends against enforcement of ihe lien in, legal roceedin s which in the Lender's o inion ernte to revent the ` � '"'�"""""
<br /> P 8 P �P P . „�-.,
<br /> enforcement of the lien;or(c)secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to � � '
<br /> this Secvrity Instnunent. If L.ender determines that any part of the Property is subject to a lien which may attain priority over � � = ,".�.
<br /> this 5ecurity Instrument.Lender may give Borrower a notice identifying the lien.Borrawer shall satis,y the lien or take one or . . •• ' � .
<br /> more of the actions set fortti above within 10 days of the giving of notice. � ; • . .
<br /> , Form 302�
<br /> ' ��6RlNE)�9z�2i.o� v�z a e ��,na�s � . .
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