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<br /> • ' TO(iEThIER WI7H all the Improvemente now or hereailer erected on the proFcrty, and aIi easement�, eppurtaiances. and E;�;� _
<br /> fixturea now or herenhcr a pert o1 the property. NI raplacements snd addltlons shall also be covered by this Secudry Inatniment, �• •��'�,',—_—_
<br /> All of the foreqoing Ia referred to In Ihln 8ecurity Instrumant as the "Property.' �i �i'-=���`"�"'
<br /> BORROVYER COVENANTS thet Borrower Is lew(ulty sdzed ot the estate hereby conveyed and hAS the right to grant and , :,,Y`,��-___.
<br /> convey the Praperty and that the Property Is unencumbered, except for encumbrencos o1 record. Borrcawer warrnnta and wlll � , �l,',,,,�.,;. .,,+;y.�,
<br /> defend generally the tille to the PropeRy egnlnst ell clalms end demands, subJect to any encumbrances of record. ... _
<br /> THI9 SECURITY INSTRUMENT combines unflortn covenents 1or nailonal use and non�unitorm covenants wlth Iimited �; �r+: : ;_
<br /> verlatlons by Jurisdictlon to constlWte e unito�m secudry Insirument covedng real property `,; :_,�: Y.,�
<br /> UNIFORM COVENANTS. Bortower end Lender covenent and agree as follows: ; �..,:..
<br /> 1. Payment of P�inolpal and Intsrest; Prepaymenf and Lat� Cherges. Borrower sF�all prompliy pay when y ; ,��.
<br /> �• due the phnGpal ot and Interest on the debt evidonced by the Note and any prepaymmt and late charges due under the Note. ' i, . ::/.ry .; , �,'�
<br /> � � 2. FursdII for Texes end Insuranee. SubJect to applicable law or to a written walver by Lender.Borrower shall pay : . ' , µ,
<br /> . �, to Lender on the day monthly payments are due under the Note, until the Note Is paid in tull, e sum('runds") lor. (a) ycarly � 'I,rl=A i.,fi_ ,,:_�r
<br /> • � texes an d assessmen ts w h i c h m a y e tt a l n p r iori t y over this Security Instrument as a Ilen on the Property; (b) yearly leasehold � g J, �� y-
<br /> ��,r,; , payments or graund rents on the Property, If any; (c) yearly hezard or property insurance promiums: (d) yeady flood insuranco ;;:p�t � '-;�__-
<br /> ,,�,,�, premiums, it any: (e) yearly mortgage Insurance premlums, il any;and (�any sums pay4ble by Borcower to LendRr In accardanco SI ,;;'' ';�i'.sc.'-+-�G- �
<br /> with tha provlsions ot paragraph 8, In Ileu o1 tho payment of mortgage Insurence premiums. These Iterns ere calied 'Escrow I
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<br /> Items.' 4endor may, et any time, collect and hold Funds in an amount not to exceed the maximum amount a lender for a r r ��,u-
<br /> federally related mortgAge toan may raquire for Borrower's escrow account under tha federai Real Estata Serilement Procadures �'c?':_uz _-`
<br /> • j Act of 1974 as amended from time to time, 12 U.S.C.�2601 et seq. ('RESPA'), unleas anather iaw that epplles to the Funds , �;Y.____
<br /> � ` I sets a lesser amount. If so, Lender may, at any tlme, co9ect and hold Funds in an nmount nat to exceed the lesser emount. :i:,��: -
<br /> � Lender may oatimate tho amount ot Funds due on the basls ol curre�it data and rea�onable estimates of expenditurea of future '''?::�
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<br /> � Escrow Items or otherwise In accordance with epplicable law. �p r.,'-
<br /> The Funds shall be held In en InstRution whose deposKs are Insured by a fede��al sgency, Instrumentality.or entity(Inciuding
<br /> Lender. If Lender is such en Institutlon) or In eny Federal Home Loan Bank. Lender sh�ll apply the Funds lo pey tho Escrow �s��,=
<br /> �� Items. Lenda may not charge Borrower for holding and epptying the Funds, annualty Analyzing the escrow eccount, or verlfying
<br /> the Eecrow Items, unleae Lender paye Bortower Interest on the Funds end xppNoubte law permita Lender to make such o '.j;��.;_
<br /> cherge. However, Lendar may requlre Borrower to p�y a onedime �Nerge tor ao Indapond7ri resl eetaSe troc +eportln{� servi�e z�---
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<br /> uaed by l.ender in connecQon wllh thle lo�n, unless applicabla law provldes otherwloo. Unly�sa m agreement Is rru�de or '�'�,
<br /> appliceble law req�dre� Intereat lo be pdd, lender ahdl not be reqWred to pay Elmrower eny intereat or eaminps on lhn Funds. _,
<br /> Borrawer and Lender may agree In wrfUng, however, thal interost ahall be pald on tht Funda. Lmder shell gtve lo Borrower. ��,,:�--
<br /> without charqe, en �nnud �ccouminq o1 the Funds, ahowing credits md debits to the Funde and lhe purpose tor whlch each =_
<br /> .� dehn lo th�»Funds w�e made. The Funds�re pledged t+s additlonal secwity lar nll aums necured by Ihe Security Inetrument. -__
<br /> It Ihe Funda he�d by Lender exceed ihe amounte permlttod to be held by nppitanble I�w, Lmder ahall xccount to Bortower -.^�:_
<br /> lor the excesa Funds In eccordRnce wlth tho requlrementa oi epplicable law. If the amount ot the Funds held by Lender et any =:u-V.^
<br /> time Is not sutflclent to pay the Escrow Item� when due, Lender mey so notily 8ortower In wrlUng. end. In auch case BoROwer _____
<br /> � shdll psy to Lender the smount necessery to make up the deficiency. Bottawer shell mske up the deflalency In no moro than ��:,���__
<br /> twelve monthry payments,et Lender's sole discretlon. _--- —
<br /> Upon payment In full of ail eums secured by thls 3ecurlty Instrur.ient. Lender sh�ll promptly refund to BoROwer any Funds �;::..�
<br /> held by Lender. if, under peragraph 21, Lender ahall acqulre or sell lhe Property. Lender, prior to the acqulsition or sale of the e�--�
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<br /> " en �unus Y��id t� Lsndst s::':e L!^'•° ^!pc4"'n�!�On er sale as a credit apalnst the eums secured by thls _.---
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<br /> Security InsWment. `•
<br /> 3. Applie�tion of PAymsnts. Uniess epplicable law provldes otherwiso, al1 payments received by Lender under _
<br /> paragraphs 1 and 2 shall be applied: ftrst.to any prepayment charges due under the Note; second,to amounts payabie under .
<br /> paragraph 2; third,to interest due; fourth,to principal due;and last,to any late charges due under the Note. _
<br /> 4. Chtl�gAS; Uet18. Borrawer shali pay ell texes, assessments, charges. flnes and Impositions ettributable to the v
<br /> � , Property which may attafn priorfty over thls Security Instrument,and Ieasehold payments or ground rents, If eny. Borrower shall
<br /> pav these obligatfons in the manner provided In peragreph 2, or if nol pald In that manner, Bonower shall pay them on tima
<br /> ' '"`' directiy to the person owed payment. Borrower shall promptty tum�sh to Le�der sfi uut{�es ot amourtt� to tre pald undw this _
<br /> peragraph. If Bortower makes these paymenls directly, Borrower shall prompUy fumish to Lender recelpts evldencing the `��
<br />_,• payments. �
<br /> "` Barrower shall promptly discharge eny Ilen which hes priority over this Security instrument unless Bortower: (a) agrees In ■
<br />`• ' ''6' wrfting to the peyment o} the obligatlan secured by the Men in a manner acceptable to Lender; (b) contests In good faith the
<br />�i�+�r�,:N�, Ilen by, or detends agaln�t enforcement ot the Ilen in, legal proceedings which In the Lender's opinlon operate to prevent the
<br />=���+; entarcement of the Uen; or (c) secures(rom the holder ol the Ilen an agreement satisiaotory to Lender oubordinsting the Ilen to
<br /> "'"'s;'''�' this 3ecurity Instrument. fl Lender determines that any pad of the Property Is suhJect to a Ilen whlch may eriain priorily over this
<br />' ��Y""•�" Secutity Insirument, Lender may glve Borrower a notice Identitying the Ilen. Borrower shall satisfy the Ilen or take one or more of
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<br /> ' 'J: , • the actlons aet forth ebove witldn 10 days of the giving ol notice.
<br />�i�, ;'` ;h� 5. Hazard or P�operty Insur�nce. Borrower shall keep the Improvements now existinc�or hereafter erected on tho
<br />�•: .. . Property Insured agalnst loss by flre. hezerds Included wkhin the term "extended coverage' and any other hezerds, Including
<br />"�'''`'y"%� floods or floading, for whlch Lender requlres Insurance. 7his Insurence shall be malntalned In the amounts and tor the porlods
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<br />-- «•�= that Lender requlres. Tlie Insurence certler providing the lnsurance shall be chosen by Borrower subJect to Lender's approva
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<br />�„�,,,_.,� .-. which shall not be unreasonebly withheld. If Bortower talis to malntaln coverage descdbed above, Lender may, at Lender's
<br />� Y-=��� option, obtaln coverage to protect Lender's dghts In the Propeity In accordance with paregraph 7.
<br />�'-^ NI Insurance pollcies and renewals shail be acceptablo to Lender and shall Include a standard rnoAgage clause. Lender
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<br />:=,au���„ . shell have the dght to hold the policles end renewals. If Lender requires, Borrower ahali promptly give to Lender a I recHpts o -
<br />-:;,;�;�-�• pald premlums end renowal notices. In the event ot Ioss,Borrower shali give prompt notice to the insurance carrier and Lender.
<br />- '°�" ' Lender may make prooi of loss B not made promptly by Borrower. b..� —
<br />�, Unless Lender and Borrower otherwlse agree In wdtlng, Insurance proceeds shali be applled to restoratlon or repalr ot lhe �,:__
<br /> Property damaged, If the restoratlon or repalr Is economically teaslblo and Lender's aecurity Is not lesaened. If the restoration or __
<br />_ repalr Is not economlcally feasible or Lender's securiry would be lessened, the insurance proceeds shail be applled to the sums - - -- _
<br /> . secured by thls Securiry Instrument, whether or not then due, wfth any excess pald to Bortower. If Borrower abandons Ehe = '�-
<br /> � i� Property, or does not enswer withln 30 days a notice hom Lender that the fnsurance carrler has oflered to 3ettle a claim, thon �,���
<br /> ; Lender may collect the insuranco proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums L__j
<br /> ��_ --^---- -
<br />-� = secured by thie Security Instrument,whether or not then due. The 30•day period wlli begin when the notice Is given. �R;j-----�_
<br /> � Unlesa Lender and Borrower otherwise agree In wrlting, any appllcatlon of proceeds to principal shall not extend or �•:���-.�r-
<br /> t postpone the due date oi the monthly peyments reterred to In peragraphs 7 and 2 or chenge the emaunt of the payments. It •:;�;v
<br /> under paragraph 21 the Property Is acqulred by Lender. Bortower's right to any Insurance pollcios end proceeds resulting from .
<br /> damage to the Property prlor to the acqulsltion shell pass to Lender to the extent of the sums by this Securfty Instrument • ��d
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<br /> .,,_ � fmmedlately pdor to the Acqulsltion. -��,�=..�`a:
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<br /> ''� 6. Occupancy, Preesrvetlon, Maintenance and Protection of the Property; Borrower's Loan '"`" ""`
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<br /> AppllCatlo�; Lei�seholde. eorrowar snen ocoupy, estaoiisn, nnd uso�i,� ���v�+�r a� ���•�^�� r.�.���..��.��..�� ..•••��.. -- ,- -v -_
<br /> slxty days after the execution of thls Security Instrument and shell contlnue to occupy the Property es Bortower's principnl
<br /> rosldence for et least one year after the date of occupancy, unless Lender othenrriso agreas In w�iting, which consent shall not
<br /> be unreasonably wlthheld, or unless extenuating clrcumstences exist whlah ere beyond Bartower's control. Borrower shall not ,
<br /> destroy, damago or Impalr the Property. allow the Property to deteHorate, or commit waste on the PropErty. Bortower shall be in
<br /> default If any fortelture actton or procueding, whether clvu or criminal, is begun that In Londer's good falth�udgment oould result
<br /> In forfeiture of the Property or otherwlsc mate�tally impair the Ilen created by thia Security Instrumant or Lend�r's security Interest.
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