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<br /> 97�- i��3s� � : . .
<br /> TOGETi�R WITH all the improvemenLS now or hereafter erected on ihe property,and�11 easements,appurtenances,and � -
<br /> fixnues now or hereafter a part of the property.All replasemenu and additions shall alsa be covered by this Security Instrument . ^
<br /> All of the foregoing is refeaed tn in this Security Instnunent as the"Propeacy." • �,
<br /> BORROWER COVEAiANTS that Bonower is laarfully seised of the esrate heretfy conveyed and has the right to�ant and • _
<br /> convey ihe Property and that the Property is unencumbered,except for encumbrances of record. Borrower warrants and will • '
<br /> defend generally the dde w the Property against a11 claims and decnands,subject to any encumbrances of record . , .
<br /> { TI-IIS SECURITY INSTRUNIENT combines uniform covenanu for nalional use and non-uniform covenants with limitEd . ,
<br /> variations by jurisciiction w constiwte a�miform securiry insrtument wvering real property. �
<br /> UNIFORM COVEI�iiANTS.Borrower and Lender coveaant and agree as follows: ,
<br /> 1.Payment ot Principal and Interest;Prepayment and LaYe Charges. Borroaver shall prompdy 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 /> 2.Funds for Taxes and Insurance. Subject to applicable law ar to a writien waiver by Lender, Bonower shall pay tn F . , �
<br /> Lender on the day mont6ly payments ve due under the Note,until ihe Note is paid in full,a sum("Funds")for. (a)yearly taxes , ,�
<br /> and assessments wluch may auain priority over this Security Instniment as a lien on the Property;(b)yearly leaseho?d payments ! .
<br /> or ground renu on the Property,if anY:(e)Ye2$y heTSrd or property�nc�ranCe pletAiums;(d)YearlY flood insurance premiums,if `:: �
<br /> anY:(e)Yearly mortgage insurance premiwns,if any;and(�any sums payable by Borrower to Lender,in accordance with[he � ; �";• '. .
<br /> � provisions of paia�aph 8, in lieu of the payment of mongage insurance premiums. These items are called "Escrow Items." . ; .
<br /> � L.eAder may,at any time,collect and hold Funds in an amaunt not to exceed the maximum amonnt a lender for a federally related . . '`
<br /> � , .
<br /> ; martgage Ioan may c�equire for Borrower's escrow account under the fed$ral Real Estate SeWement Procedures Act of 1974 as , . •
<br /> amended from rime ro rime.12 U.S.C.Secdon 2601 et seq. ("RFSPA°),unless another law thai applies to ihe Funds sets a lesser �' .
<br /> � amonnt If so,Lender may,at any time,coIIect and hotd Funds in an amount noi to eaceed the lessea amount I.ender may � . ` �, .. •-•.
<br /> ',�.,..
<br /> es[imatB the amount of Funds due on the basis of curreni data and masonable estimates of expendiwres of future Escrow Items or � '++��- _
<br /> • otherwise in accordance with applicable law. � ` , .�.
<br /> � T1ie Fnnds shaII be held in an institurion whose deposits are insured by a federal agency,instrumentality,or entity(inctuding .�', ,
<br /> I.endra.if Lenda is such an institu�on)or in any fiederal Home Loan Bank.Lender shall apply the Funds to pay ihe E.gcrow ( •• t-, �
<br /> � . �:tT,_t,..:l.�� .
<br /> � Items.Lende,r may not charge Borrower for holding and applying the Funds,annually analy�g the escrow aceount,or verifying � _
<br /> � the Fscrow Items,unless Lendex pays Borrower interest on the Funds and applicable law permits I.endea to make such a charge. ; •' ��£•
<br /> ; ,. �� .
<br /> However,I.ea�d�may require Bonower to pay a one-time c6arge for an independeat real estate tax reporting seavice used by i � ; . �, �
<br /> ; Lendea in wnnection with this loan,unless applicable law provides ott►erwise.Unless an agreement is made or applicable law i • . � �i . "` .
<br /> ; requses mterest to be paid,Lender shall not be required to pay Borrowea any inteaest or earnings on the Fw►ds.Borrower and � � -
<br /> .,:�� .��
<br /> � I.enda may agree in wriang,however,that interest shall be paid on the Funds.Lender shall give to Borrower,without charge.an j � ? ,. .•
<br /> ; annual accounting of the Funds,showing credits and debits to the Funds and the purpose for which each debit w the Funds was ! • `.��'" � � _
<br /> ! made.'IT�e Funds aze pledged as additional security for all sums secured by this Security Instrument i . � j'`��;�`
<br /> � If ihe Funds held by Lender eaceed ihe amounts peanuaed to be held by applicable law,Lender shal)account to Borrower for ; . ����t
<br /> .j ihe eacess Funds in accordance witb the requirements of applicable law.If the amount of the Funds held by Lender at any tirne is - - �f .
<br /> ! not sufficient to pay ihe Escrow Items when due.Lender may so notify Boaower in writing,and,in such cxse Borrower shall pay � • ; ,..
<br /> ' to Lender the amount necessary to make up the deficienry. Borrower shall make up the deficiency in no more than twelve ��--i�'—
<br /> � monthl y pa y ments,ai Lendea's sole discretion. . `'�!
<br /> , � , '�'�,- -• -
<br /> Upon payment in full of all sums secured by this Security Instrument,Lender shall prompdy refund to Borrower any Funds �
<br /> held by L�ander.If,under para�aph 21,Lender shall acquire or seU the Prop�ty.Lender,prior tn ihe acquisirion or sale of the ., -�
<br /> propeaty,shall apply any Funds held by Lender at the time of acquisidon or sale as a credit against the sums secured by this • , ��; � �=-°--=
<br /> Securiry Instr�unent ' � , Y� 4>..
<br /> 3.AppHcation of Paymenta Unless applicable faw provides otherwise,all payments received by I.ender under paragraphs '�
<br /> 1 and 2 shall be applied:firs�t,w any prepayment charges due unda the Note;second,w amounts payable under paragraph 2; ! :� \ ,i;�;,,1:p
<br /> third,w interest due;four�h,to principal due;and last,to any lats charges due under the Note. -
<br /> 4.Charges;Ltens. Borrower shall pay all taxes,assess�nents,charges, fines and impositions attributablc to the Propeny _���,�:y
<br /> which may attain priority ovea this Seciuity Instrument,and Ir�ehold payments or ground rents.if any.Borrower shall pay these �
<br /> obligations in the manner provided in paragraph 2.or if not paid in that manner.Borrower shaU pay them on pme d'uectly to the .- , ; :
<br /> pason owed paymen� Barrowea shall promptly fumish to Lender all notices of amounts to be paid under this paragraph. If -+v
<br /> � Borrower makes these payments direcdy,Borrowea shall prompily fumish to Lender re�eipts evidencing the payments. � � ' : —
<br /> Borrower sl�all prompUy discharge any lien which has priority over this Security Insuument unless Horrower.(a)agrecs in � �. —
<br /> writu�g to the payment of the obligation secured by the lien in a manner acceptable to Lender.(b)contrsts in good faith the lien f '
<br /> by, or defends against enforcement of the lien in, legal proceedings which in the Lca�der's opinion operate to prevent the ! .
<br /> enforcement of the liear;or(c)secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to �
<br /> i this Seanrity Instnunent If Lender dete�mines that any part of the Property is subject to a licn which may attain priority over this i � .
<br /> • Seciuiry Instrument,Lender may give Borrower a no6ce identifying the lien.Borrower shall satisfy the lien or take one or mare ' . � _
<br /> ! of the ac�ons se►forth above within 10 days of the giving of notice. � � �
<br /> Form 3028 9i80 �
<br /> � �-88(NE)�gz,z�.o, Pape4ot8 imnaie: � � •
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