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<br /> . .` TOtiETHER WRN a0 the improvements row or hereafter erected on the ptoperry. and a11 easeirtents. appurtenances. and � .
<br /> ' � fu�res now or hereafter a part of the propeRy. AU rePtacement3 a�d addiGons shail aiso be covered by this Secunty instrumertt
<br /> ` S AO of tAe toregoing ks referted to in this Secw'Ly tnstrument as tfie'Property' � ,
<br /> BORRQYYER COVEMANTS that Bortowee is �awtulty se¢ed ol the estate hereby conveyed and has the nght to grant and '
<br />-- � convey the PropeAy anC that the Property is unencumbered, except tor encumbrartces of �ecord. Borrower warrants and wiii� : • �
<br /> � , � defend generalry the title to the Properry agair.st all ckvms and demands. subject to any encumbrances of record. �' �
<br />, ; j THIS SECUR[TV INSTRUMENT combinea unifortn covenants tor natiortat use and non-unitorm covenants with limited� ;
<br /> variations by junsdittion to constitute a uni(ortrr seatriry instrument covering real properly. � ' ,
<br />� UNIFORM COYEIVANTS. 8orrower end Lender covenant and agree as tollows. � '
<br /> :: j 1. Psyment of Principal and Interes� Pvepayment and Late Charges.sorrower shau prompuy Pay wnen � ' . .
<br /> - ; due the prinapal ot and interest on the debt evi�eneed by the�tote ana arry prepayment and Iate charges due under the Note.
<br /> . � 2. Fua�ds for Taxes and tnsuranae.3ubJect to applicable Iaw or to a written .vaiver by Lender. Bortower shall pay
<br /> � ' � to Lender on the day monthty payments are due under the Note.until the Note is paid in fuit. a sum �'Funds') for. (a) yearty �
<br /> � ' taxes and assessments which may attain pr,ority over this Security Instrument as a 6en on the Property. (b) yearly teasehold �
<br />_ • payments or ground rents on the Property, it any. (c) yearry hazard or propeQy insurance premiums: (d) yeariy flood insurance : .
<br />- • � premiums.if any. (e) y�riy mortgage insurance preiruums.'rf any,and(�any sums payable by Borrower to L�d�in accordance �
<br /> > with the provisions of paragraph 8. in tieu ot the payment of mortgage insurance premiums. These items are called 'Escrow
<br /> � � ` Items.' Lender may, at any time, collec[ a.d hotd Funds m an amaunt not to exceed the maximum amount a lender tar a � �
<br /> federally related mortgage laan may reqwre f�r Bortower's escrow account under the federal Real Estate Settlement Procedures �. . `'
<br /> - Ad of 1974 as amended�m time to time. t2 tI.S.C.�2601 ei seq. ('RESPA'). untess another law that appiies ca °^e Funds i , ;�
<br /> • � y sets a lesser amount i` s�. Lender may, at any time, coj(ec[ and hold Funds in an amount not to exceed the�e�.�3'naunt. ��� "`
<br /> _` � Lender may esL.^�aie ±he amautii of Funds due on !he Fas's c!cur�:t ^ata and reasonable estimates of exper�t;r��`'.w..��e yr' "•���'
<br />"- . � Escraw I:�..ras or o��e c�accordance wit'�appGcable tav�. }.`���" f • •
<br /> `% � : ; The Funds s'-3.'i 4e he3W in an i�stiWiian wF.ose depas::s a2 a�,-e.d ir�a federai agency.instrurt-�JaEf�r. a-znti� ,r.�u�:g �,r.,;. .: .�'r�'
<br /> - . � i�:d�-. �F Lender rs sac�; a� instiwtiony or i.^z:-� Federa:ii3::-4�a.�t 6a-;ti I.�:de�shail aPPiy the^.:nds':` aay��e Escrow f -;��t 1 :-
<br /> : �� r�.s. Lender nay no:charge Bor.e�v��Sr hr:1�':r.y an�2�?.�usn'�;e Fs�s� ��y a-r3:{ting the esaew acc:.i� or veritying .i���� ,r+ .'
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<br /> tY.s Escruvr items, untess Le.�der pays c:+^1,�� ertere� a- '_He �rmds �.3 �D9ca3n Iaw perr�::*s Lender ta �zke such a � � jt,s�l'`,,
<br /> t � •��.�;- ' p�-;
<br />:;;,:` •`,;: :,<,• � :i;.: charge. Mowev�. Lendes m3-r requae 8u�-�vse� to pa¢a ons-ame �2�,ye for� i�:�.-endent reat estate tax rePar6ng seryice ,
<br /> ' `'��':'�" � '� used by Lender in connec^an with this toa�. uNess e�pGcahle Iaw provides othe:wise. Unless an agreemertt is made or ��- _,,
<br /> �`s � "%� � applicable Iaw requires irrte�st to be paid. Lender sha8 noi be required to pay Bortower any interest or eamings on the Funds. '..,.' •�c-.
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<br /> .;; ! Borrower and Lender may agree in wriGng. �,owever. Mat irrtexest sha0 be paid on the Eunds. Lender shaD gtve to Bortower.
<br /> �; , _ . ,� without eharge. an annual accounting of the Funds. showing credRs and debits to tfie Funds and the purpose for which each � . ,
<br />���^ debit to the Funds was made. The Funds are ptedged as additional sewrity for n0 sums secured by the Security inshumeni. - �'.
<br /> "" i If the Funds hetd by Lender exceed the amounts pertnitted to be hetd by app�cabfe law. Lender shail account to Borrower .
<br /> iF � for tfie excess Funds in accordance wrth the requirements of appiicable Iaw. Ii the amount ot the Funds field by Lender at any • ..
<br /> '� � time is not sutflclent to pay the Escrow Items wt�en due. Lender may so notity 8orrower irt writing.and. in such case 8or►ower
<br />;:r . 1 shall pay to Lender the amount necessary Io make up the deflciency. Borrower shail make up the defiaen�y in no more than .•1..F_,
<br /> 'd� . � riveNe monthly payments,at Lender's sote disctetton. , � �"'
<br /> ' � � Upon payment in luli oi ali sums securzd by this Securlry Insbument. Lender shaii promptly re?urtd to Bonower any Funds � ", � .
<br /> Y � � - hetd by Lender. If, under paragraph 21. LenQer shall acquire or sell the RropErty. Lender, pdor to the acquisRion or sate of the l .
<br />.�;; . Property, shall appry any Fands held by Lender at the Ume ot acquisition or sale as a cred"A against the sums secured by this I '•. t . 4
<br />-�•e • ; SecurttY tnstrument '�
<br /> �r , . 3. Npplieation of Paymenia ur.ress applicable law provldes otherwtse, all payments received by Lender under . " ,'",
<br /> `? paragraphs 1 and 2 shali be applied: firsi.t�any prepayment charges Aue unQer the Note:second.to amounts payabie under ,,-•; '
<br />`':'� . x J paragraph 2:third,to interest due:touRh, to principal due;and last.to any late charges due under the Note. �• .��
<br /> :"' � 4. Charges: Ll@fts. Bortower shatl pay all taxes. assessments, charges. fines and imposiGons attributable to the l� `
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<br /> � . Property which may attain priority ove►this Securily Instrument. and leasehold payments or ground reots. it any. Borrower shall ,
<br /> " . . ' pay these obligations in the manner provided in peragraph 2. or il na!paid in that ma�ner Borrower shall pay them on time . '�
<br />�•'? , directty to the person owed payment. Borrower shall Qromptry fumisb to Lender aIt notices of amounts to be paid under this ;���
<br /> �� - paragraph. If Borrower makes these pay�r.ents dired'.g. 8arrower sha0 promptty tumish to Lender receipts evrdendng the -
<br /> . � . payments.
<br /> ;, Boaower shall prompUy discharqe any IiEn which has pdoriry over this Securtty Instrument unless 8orrower. (a) agrees in
<br /> '`�'}� `�:•'.� wrfting to the payment ot the obligaUon �ep;red by the Iien in a manner acceptable to Lender, (b) contests in good faith the ;
<br /> ; � , '�• '! Gen by, or defends against enforcemerst cf L`.e 6en m, legal procee�ngs which in the Lender's opinion operate to prevent tha `� � •:`>•. `'
<br /> :;�� ::. entorcement of the lien:or(c) secures bom t'�e he1�of the Ilen an agreement sa'isiactory to Lender subordmat�g the lien to ({ r��•,• ,
<br /> ,; ��.:.���. , t h l s S e c u r i t y In s t r ument 1�Lender determinea that en y Cz:01 the Pro perry is subiet:to a lien whlch may attain pnority over this f;%?;};.�
<br />'=�.� '•• .. :� Securiry Instrument. Lender may give BoROwer a noUCe r_entifying the lien.8orrow�shall saUsty the lien or take one or more ct ��5`:'.' ,
<br /> �; • , .. � the adions set toRh above wlthln 10 days ot the givir�of notice.
<br /> �:.�:-. 5. Haz'drd o�Property Insuran�e. Bartcv�er shat)keep the improvements now exisUng or hereafter erected o�tie
<br /> ', � � Properly insured against loas by flre. hazards inctuCed with3n the tertn 'extended cove►age' and any other hazards. induCir.g '
<br /> , ' floods or flooding, tor w:°sich Lender requlres insuraa�e This insurance shatl be maintained in the amounts and to-��e pedods •
<br />- ��•`��` � � that Lender requires. The insurence cartier providm;*ie insurance sha11 be chosen by Borrower subject to Le�,:,�s epproval
<br /> �� ':' . whtcA sha�l not be unreasonabry withheld. H Bc^awer taits to maintaln coverage descrlbed above. Lender r„3y aS Lenders . �
<br />' '.•e; , ' . •� ' opUon,obtaln coverage to protect Lender's r.ghts in the Property(n acoordance wrh paragrapb 7. ,
<br /> - � AII Insurance polides and renewals shall be acceptable to Lender and shall include a sta�::a1 r.sor.gage clause. LenC�r ' '���
<br /> ` � shall have the rfght to hotd the polides and renewals. N Lender requires. Borrower shall promp�'y �e to !e��er alI receipts ot � '
<br /> �,`;.� � pald premlums and renewal noUces. In the event o}loss, 8ortower shall give prompt nottce to the insurance c�r�r and Lender. . �
<br /> ��r: ' �` Lender may make proof o1 loss il no1 made ptomptly by 8ortower.
<br /> 'I ; � Untess Lender and Borrower otherwise agree in writing, lnsurance proceeds shall be applied to restoratic�s cr repair ot the
<br /> � ` Rroperty damaged. if the restoration or repeir 1s economiqlly teasibte and Lender s security is not lessened. It the restorai�on cr
<br /> ;:�:.; .. � repair is noi economicelly feasible or Lenders security woutd be lessened.the insurance proceeds shall be applled to the sur..s .� �
<br /> secured Dy this Securiry Instrument. whether or not then due, wAh any excess paid to Bonower. If Borrower abandons the
<br />� �`.�'' �• • Property. or does not answer wfthin 30 days a noflce lrom Lender thel the insurance carrier has oflered to settte a clalm. then .'
<br /> Lender may collect the insurance proceeds. Lender may use the proceeds to repalr or restore the Property or to pay sums
<br /> � secuted by thls Secuiity InsUument,whether or not then due. The 30-day perfod will begin when the noUce is giyen. : �
<br /> �,t' . � Untess Lender and Borrower othervdse agree in writlng. eny applicaJon of proceeds to princlpal shall not extend or � .
<br />".'�r . '. postpone the due date of the monthly payments refened to in paragraphs 1 and 2 or change ihe amount ot the payments. If �
<br /> � undet paragtaph Zt the Property 1s aequired by Lender. Bonower's rlght to any insurance policles and proeeeds resulting from
<br /> ' damage to the Properry prior to the acquisiNon shall pass to Lender to the extent of the sums by thls Security Instrument
<br /> . . . immediatety pdor to the acqWsitlon.
<br /> 6. Occupancy� Presen�ation. Maintenance and Protectton ot tfi�e Properly; Borrower's Loan .
<br />''�:r � ' qpp�ieatbn; L0aS8ho1d9. Bortower shall occupy. estebtish, and use the Property as Bor►ower's pdncipaf residence within
<br />- , , i slxty days after the execution of this 9ecurity InsWment and shall conUnue to occupy the Property as Borrower's pdndpal
<br /> ' I residence tor et least one year after the date of occupency. unless Lender otherwise agrees in writing, which consent shall not
<br />`',+ ` ,,. • � be unreasonably withheld.or unless extenuating Grcumstances exist whlch are beyond Bonower's control. Bonower shall not
<br /> `- .;.'�,' � . � destroy. damage or impair the Property. altow the P:�:eRy to detedorate. or commit waste on the Property. EoTCwer shatl be in •
<br /> ' �'' ' detault H any torteiture aetlon or proceeding, wbett�e� crvd or cdminaL is begun that in Lender s good fa�th;s3�-e-t coutd result l . �
<br />`�`{����. . , ' in torteiture of the Property or otherwise materialty�r:pan the Iien created by this Security Instn:mer; o�Len�e+s s�curity interest t :
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