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<br /> . . " and all easements. appuRensnces. an4 i . .
<br /> � TOC�THER WITH all the improvem�ts now or herea8er erected on the propeAy. ,
<br /> • fixtures c�ow or hereafter e Part of the properiy.A�I replaceme�ts and additions shail also be covered by tfiis Securrty Instrument. �
<br /> � ' AII of trie toregoing is rete�red to in this Security Instrumenl as the'Propelty.' �nveyed and has the nght to grant a�d f �- .
<br /> BORROWER COVENANTS tfiat Bortower is lawfuU/ seized of the estate herebY
<br /> . . � convey the Properly artd that the PropeRY is urtencumhered. exc�Pt tor encumbrances of record Bortower warrants and wdl , '
<br /> � � defend generaRy the tiUe to the Properry against aQ*Jaims and denands.subjed to any encumbrances ot record
<br /> � `• 7HlS SECURITY tNSTRUMIEIJT combines unitortn covenants for national use artd non-unitartn covenants wdh timited F
<br /> � variaGans Dy jurisdidion to constihite a unHorm securiry mswment coverin4 rea�ProP�Y• � .
<br /> � sti t
<br /> � 7 UNIFORM COVENANTS. 8ortower and Lender covenant an e�and�e Ch�ges. Bortower shail prompt{y pay when • • . '.' '
<br /> . 1. Paymon4 M Prirtcipal and lnteres� Prepaym ��d Iate charges due under the Note � � • .
<br /> < due the principal ot and interest on the dWi e+ridenced by the Note and any pr�aYrt� . ,
<br /> ' 2. Funds for Taxes and Insurance.Subject to appticable law or to a w�itten vraiver by Lender. Bortower sha11 pay
<br /> � � to Lender on lhe day morthly paYments ere due under the Nota until the Note is paid in tutl,a sum ('Funds')for. ia�eearly � .
<br /> taxes and assessmests which may attain priority over this Securiry Insuumerrt as a 6en on tlie Properry: (bl fl��nsurance
<br /> �—-- payments or yound rents on the Properly. 'rf any. (�) Y��Y hazazd ar proper[Y ir+surance premwms: (�Y�N � ' , _ . _' _
<br /> ' . , premiums.if any. (e)YearlY mortgage insurance prertuums.if any.and (�any su"�'S payabte by Borrower to Lender in accordance 4
<br /> � with the provisions of paragraph 8, in lieu of the payment of moRgage Nsurance p�snNms. These items a:e called �C-scro"'� `.
<br /> ttems.' L.end�may. at any time. collecl and hold Funds isc a:. amount not to exceed the rt�dmum amoorr?a tendec tor a ,,
<br /> federatly related morigage loan maY require tor BoROwer's es:'�� account under tfie tederal Reat Estate SetUemeirt Pracedures
<br /> � Act of 1974 as amended from time to time.12 U.S.C.�2601 � s�. ('RESPA'). unless anothEr k3w ihat appl:r- to the Funds
<br /> � sets a lesser amount It so. Lender may. at any Lme. collect a,� hold Funds in an amount no: to�c�t��f�f�� •<` � _
<br /> , � Lender may�ate the amount ot Funds due on Lhe basis ot curtent data and reasonable estrmates ot e� • � ,:�f
<br /> ; � Escrow Itert►s or othenNlse in accordance with appfieabte Iaw. , . -
<br /> • � The Funds shall be hdd in an institution whose deposiFs are insured by a tederal agen�y.insbve��'tor a�thenEscrow ��='"'-�•��
<br /> lender. it Lender is such an institution) or in any Federal Honis the Fundsk annally analyzai5 the escrow eccourR or verii�ling ,- ~��'"�:'`�,' . _
<br /> ' • � � Rems. Lender may not charge Borrower tar holding and aPP�Ya'4 t= • r.;,+ �.: .
<br /> . � � the Escrow ltems. untess Lender pays BoROwer irisrest on t�e Funds and appGcabte law pemtits Lender to make such a
<br /> . .` ' charge. However. Lfs'der may require Borrower ta u3y a one 2me charge for an independer�t reat estate tax repoRing service �; •
<br /> '`r,`r., �� � used by Lender c� ro�ection with this loan. ���+QSS appGa�le �aw provides otherwisa Unless an agreement is made or � • ...
<br /> `�<:,?klr, ,i appG�41e law reGu'ces cr.erest ta�e paid, lertder stsal!not�e n-quired to pay Bortower any nterest or eamings on the Funds.
<br /> . ;i;"..:;.'s._:> E�^ran,er and Len� �'aY a„-"'�= ir,w-iling, however. that ir:� shalt be paid on the Far�. Le.nder shall give to Bortnwel. � , '., ;'', •-j
<br /> � :yf;r�:;;< } „��,,.;�arqe.yn �;;,uaf ast�urRir.g of the Funds. sho•xin� credi�-s and debits to the Funtis and the purpose tor whicfi eG:.h s4 �
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<br /> debit to the Funds was made• Tha Funds are plzdyed as ad..-'i*.iw.�t securiry tor all sums seaure3 by the Securt'ty(nstrumeR i�:., .
<br /> • : � If the Funds fiei�by Lendet exceed the a%Twnv'�'s Permitt--°d ta be held by applicable Iaw. �ender sfiall account to Bortower �:"��=��Si,,, .
<br /> `, � � tor the excess Fun� in accordanoe with the«a1u�''�°�of applicable law.M the amount of the Funds heid by lender at any ,',`�,i,c.�yT_
<br /> ��` time is not suffident to pay the Esaow ftems ti++h'� �+Q, LendPr may so notity 8orrower h+ writinS•and-Q' su�h aase Borrower ,�,,,;,, ,
<br /> �- � � ` s;`vill pay . . .a.n�.��.,;�t
<br /> ' � �:.�. to Lender the amourrt r.e�essarY to make up the defic?ency. Bortower shall make w"�the defic�ancy Cl il0 TIIOf2 tS18I1 ' .'rFn1J:>::�>.-
<br /> , "xi•' a�;;•,f
<br /> ' -� tw�e monthy payments.at Lenders sole discretion. ..`•..y�;r`j:`4
<br /> ;,.','� • � ;. � . "=.
<br />-;,. Upon payme�ri in Tull of a7 s:rs secured by this Secu.. �strumen� Lender shaN p:ompCSl retund to Bo:rower any Furtds .•:;`y..,;, 1,,�;; '�
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<br /> �� � held by Lender. 1�.�der pataqraa:�21. Lender shalt acquire cr sell the Propesly. L.ender. prio:to the ac�tsitian or sale of the . f . -
<br /> - � .'�'•,� ' property, shall aPP�Y any Funds he�3 by Lender at the time ot aaquisibort or sah as a cs��i:against tt+e sur,s secured by th�s �f` ` � • -
<br /> : ✓, �, , f .�
<br /> � . (:':`'t:.; . Security Instrument �s'�` " -��
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<br /> • • .. � 3. ApplieatNon Of Pay�gitt9. Unless applicable t�w provides othemise, all paymartts receivzJ bY tend,Q under "... ,,'�4� :..,,
<br />. ' ,; paragrapfis 1 and 2 shall be appGed: first,to any prepayment charges due under the Note; se°.and.to amounts payab
<br /> � paragraph 2:third.to interest due:fouAh.to princfpal due:and last.to any Iate charges due under the M1fote. .;•;.:_
<br /> � ( 4. Ch8�g8s: U0t1S. Borrower shall pay alt texes. assessments, charges. flnes and impositions atpibutable to the ; •
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<br /> PropeRy whlch may attaln pdority over this Securiry Instrumen�and leasehotd payments or ground rents, it any. Bortower shall .:�a�2:
<br /> . .,, pay these obligations in the manner provided in paragraph 2. or it not paid in that manner. Bortower sha8 pay them on time ` ;'..,`;,�='
<br /> diredly to the person owed payment. 8ortower shall promptlyr fumfsb to Lender a0 ooUces of amounts to be paid unda►thls _ �..���.�•�
<br /> � paragreph. N Bortower makes these paymeats dtrectly. Bortower shall promptly tumish to Lender reaefpts evidencing the � � � �:,
<br /> � , payments. � � -
<br /> . � >; i Borrower shall prampity discharge any lien which has prioriry over this Security Instrument unless Borrower. (a)agrees in '
<br /> - "' wrf6ng to the payment o1 the obligaUOn secured by the lien in e manner acceptable to Lender. (b) contests in good taith the c-� ' f;.:::�?�
<br /> ' . „ � lien by, or Qetends egainsl entorcement o1 ihe Fen in, Iegul proceedings whlch In the Lender's oplNon operate to prevent the , : .,
<br /> - � entorcement o1 the lien:or(c) secures hom the holder o1 the Iien an ageement satisfactory to Lender subord'maUng the lien to � .fr,::
<br /> this 3ecuriry Insttument 8 Lender determines that any paR of the PropeRy is subjed to a Iien which may atteln pdodty ever thts
<br /> � ' ". gepirily Instrument, LenAer rnay give Bortower a noUce identitying the Gen. 8orrower shall setlsty the lien or take one or more o1 . :.
<br /> the acflons set torlb above wlthin 10 days of the glving of notice. � . '�" ..,�� '
<br /> • a, iriazaro vr Rrop8lty Insui8ltCe.Borrower sball keep the improvements now exlsUng or hereafter erected on the , �,;
<br /> � property insured agalnst toss by fire, harards Included withtn the tertn "extended coverage' and any other hazards. Includtng , ;i�. '
<br /> ftaads or ftooding,tor wh1cA Lender�eqWres insurance. This Insurance sheA be maintalned In 1he amounts and for the pedods , .
<br /> � � , that Lender requires. The lnsurance cartler provlding the insurance shall be chosen by Borrower subject to Lende�s approval , • �
<br /> . which shall nol be unreasanably witfiheld. It Borrower fails to maintaln coverage described above. Lender may. at Lender's � �
<br /> ` . opUon,obtain coverage to protect Lender s dghts in the Properry in accordance with paragraph 7.
<br /> . All insurance polides and renevrals shall be acceptabte to Lender and sha0 tnc(ude a standarde t L�ender all eceiets ot ' .
<br /> � shatl have the dgAt to hold the poliGes and renewals. II Lender requlres.Bortower shall promptty glv A .
<br /> 'ti� pad premiums and renewal notices. In the event oi loss. Bortower shall give prompt noUce to the insur�nce cerrier and Lender.
<br /> Ler:der may make prool ot toss A not made promptly by Bortower. �
<br /> Unless Lender and Borrower othervvlse agree in wdUng, lnsurence proeeeds shall be applied to resto�ation or repalr ot the
<br /> ;' Property damaged, i}the testoraUon or repair is economlcally feasible and Lender s secudry is not lesserted. N the restoraUon or
<br />;;��;,:, ' . repair is not ewnomlcatly teasible or Lenders security would be lessened,the insurance proceeds sha9�e appfied to the sums � - -
<br />_:,�•j" � secured by thls Securily IasWment, whe:her or not then due, with any excess paid to Bortower. It E�rowe► abandons the
<br /> PropeAy. or does not answer within 30 days a notice lrom Lender that the insurance carrler has ottered to settle a claim,lhen
<br /> Lender may collect the msurence proceeds. Le�der may use the proceeds to repair ar restore the Property or to pay sums
<br /> :�,. .� , se�ured by this Security Instrument,whether or nof then due. The 30�day period will be�when the notice is given. .
<br /> ; Untess Lender and Bortower othervvlse agree in wriUng, any aPPtication ot proceeC� to pdnclpal shall not e�end or
<br /> � postpone the due date ot the monthly payments reterted to in paragraphs 1 and 2 or change the amount of the payment�. 11 ,.
<br /> � - under paragrapfi 21 the ��P�o+thecauCquisilbion`shallr p as to Lenderhto the extent�ol the�sums by t is Security Instrument ,� �
<br /> � • ' damage to the Property p
<br /> � imrnedatey pdor to the acquisNon. '
<br /> � 6. Occupancy, P►eservation. Maintenance artd P►otectton of the Property; Borrower's Loan
<br /> � A��lieatian: l.oaseholds. Borrower shall occupy. establish. and use the Properry as 8onowe►'s pdncipal residence within
<br /> sixty days aF[Fr the execuUon of this Secur.ty Instrument and shalt contlnue to ocapy the Properry as Bortower's prindPal
<br /> residence 1or at teast one year after the d2t,e ct occupancy. untess Lender othervvlse agrees in wripng. �nrich cansent shali not
<br /> � �� be unreasonatsly wdhhetd, or un�ess extenua�r•g�rcumstances exist whlch are beyonA Bortowers co:.tra�. Bartower shall not �
<br /> ��: I 4estroy. damage or impalr the PropertY.a::c�r :''e Propert�to detedorate. or commA waste on the Proper.y. 8onower shall be in I
<br /> ;�. . . Cefault it any}oAeiture action or r•oceedir.q. n*etter d:•.1 cr criminal.is begun ihat in I.enCers good taith judgment coutd result
<br /> � in toAeiture cf�-e Property or c^^.erwise m2s.c�a?y:r^;�.-�ire�ien created by this Sewr.r� !r.�tr�ment or Lender's security interest. 4
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