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<br /> � TOQETHER WITH all th• ImprovernM�tn npw or hArOAflnr orocted on the prop�rty, �nd �R Nt�rtHnls, �ppurt�nanc�s, �nd . ���%h,°�`i.•`+��;:r
<br /> � fbctures now ar hereaRer e ptR of the prpq�rq�. Ail ir�pkcements Ind edditbns shall also be coverad by this Sacurity Instrument. • �
<br /> Ail of the forepainp Is referred to in thi5 8cr�urtlP ���tihument aa the'PropeRy."
<br /> i BORFiOWER COVENANTS thal Barrqwur it� lawfuly sel:ed of the estate hereby conveyed end hae th�ripht to pr�nl �nd ,
<br /> � convey Ihe Praperty and thxt tha Pmpart�+ t0 unenCUmberYd, except lor encumbnnCes of ncord. BorrowM wsmnts and will - -
<br /> � delend yenenity the title to the r'roperty opalnst all claims and demanda, subJsct to�ny enqumbnnces al rocord.
<br /> I THIS SECURITY INSTRUM[NT combines unHorm covenams Por natbnal usa rnd non•unilorm covenents wRh IknRod -
<br /> 1 vwrktbne by Jurlsd�tbn to conatituts�unfform security h�strumsnt cowriny nal prop�rty. ' �
<br /> I UNIFORAA COVENANTS. Bortower and Lender covenant and�pree as folbws:
<br /> 1. Paym�nt of PrincipAl mnd Interost; Frepoymon4 snd l.ate Charpea.8orrotivor shnll promptty pAy vlhnn
<br /> due the prksclp�l of and Intsnst on the d�bt evldenced by the Nol� �nd�ny prap�yment and I�t�ch�rq�s du�under th� Not�. - _
<br /> � 2. Funds for Taxes and InwriflCH.SlibJeCt t0 appllCabb I�w Or to It wrflten wafwr by LendN,BortOwer 6htM pay . . '+ .
<br /> ,,,, to Lender on the day monthy paymente ar� due under the Note,unt�the Note is pald h full, a sum ('Funds") for: (a) yellrly ` '
<br /> " � � taxes �nd assessmenta whtch may attaln prbrky over thfa Security Instrument as � lien on the Proporty: @) yeary Is�s�hold � � ��"' .� •:
<br /> payments or Qround rents on the Prop�rty, N eny; (c)yo�ry h�wrd or property hsunncs pramlums; (d)ysuy fbod haunnco �•��+h�.�k�r�'�e .+�::Y -
<br /> premiums, N�ny;(e) ya�ry mortyape tnsursnce pr6mluma, it�ny;�nd (f)any s��ms payabb by Borrower to Lender h acCOrdanc� �,,. ;..,_;��„�;,�;,�;;;:
<br /> wRh the provlsions of parepraph 8, h lieu of thq pdymant of mort�dpe Insurence premlums. These Rems ue called "Escrpw - =��"�:.��
<br /> Itams." Lender may, at ony tkne, Colqct onq hald Funds h en amount not to exceed ths maxknum amount a lend�r tor e , � ���"��
<br /> federaly related mortflaye ban may rQquke lor Borrowe�s esc►aw account under the lederal Real Estate SeulB�nent Pracodurss '�'+.�. �°
<br /> Act of 1974 as amended kom timA to tkna, 12 U.S.C. �2601 et seq. ('F�SPA'), unlass another Inw thtt applies to the Funda +�-
<br /> sats e bsser�maunt. If so, Londer mny, at any tirnp,colloct and hald Funds in �n amount not to exaed the Iesser amount. ;�!!�``
<br /> ' � Lender m�y esttmato the amount ot Funds duo on the basb of current data and renson�bie eatYnates of expenditures of tuturo -��;,r�
<br /> �.��
<br /> � � Escraw Roms or othon�lse!n accordanca wilh appl�cbblaw, ir_-=
<br /> The Funds shall be held h an Institutlon whose deposits are hsured by a federel a nCy, hstrumontU' or entity (includin t.'�c�"'r
<br /> Londor, M Londot fs such an hstflution)or In sny Fede�I !'�rtee Loar Bank. l end�r shell eppy the Funds to pay the Escrow �'��_
<br /> • Items. Lender mey not charge Borrower tor holdiny and app�ymp the��nds, an�..,all, analyz�. � the escrow eccount, or verHylnfl '
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<br /> tha Eacrow Itt►ms, uniess Lender pays Borrowet htenst on the Funds and eppilcable taw permits Lender to maka suah a
<br /> � charpe. However, Lender may requke Borrcwer to pay a onB-tkne charpe tor an Independent real estete tex reportfng ssrv�e ��;'-_
<br /> � used by Lenden c �onnectbn wkh this loan, unless appNCabb Iaw provides otherwfse. Unless nn egreernent Is made or �=�
<br /> f applicabie Iaw requkes fnterest to be pAld, Lender ehal not bs requked to pay Bortower any Interest or eamhps on the Funda.
<br /> � � Borrower arid Lender may a�ree h wrkhg, however, that interest &htll be pald on the Funds. Lender sh�ll phrs ro Bortower, �,,�
<br /> "f wkhout charpe, an annual accounthg of the Fund9, showinp credits md debks to the Funds and the purpose tor whiah e�ch �v+.:
<br /> � debk to the Funds w�s made. The Funds are pledped�s addkiout securky tor ell sums securod by the Security Ins.tmment. �v�:°
<br /> If the Funds hetd by Lender exceed the amounts permined to be hald by applicable law, Lender shall ec�ount to 8ortower ��• '4..,
<br /> �� ! for the exaess Funds h accordance wkh the requrernents of appl'�¢able iaw. If the amount of the Funds heW by lender at any ';�:.;'
<br /> + � tkne Is not suHblent to pay the Escrow Items when due, Lender may 6o notHy Bartower h wrkiny, and,In such case 6caower
<br /> �; shnll pny to Lender the amount necess�ry to make up the detiolency. Bonower shall rrNke up the deflciency in �a mn�than
<br /> _ __ _ i twaMe monthM payments.at Lentlers sole dlscretbn. — _ —
<br /> ^ � Upon pnyment tn tull of all sums 6ecured by thls Securiqr In6trument, Lender shall promptly retu�d to Borrower any Funds
<br /> ;� hefd by Lender. It, under parepraph 21,Lender shall eCqulre or seil the Propertyr, Lender, prbr to the acquisRbn or safe of the
<br /> �. ' Praperty, shnll apply tny Fund6 held by Lender at the Ifine of acquiskion or snle as a credR apainst the Sums secured by this - -
<br /> • Securky Instrurn6nt. — °--�
<br /> t. 3. Applicatlon of PaymenU. Uniess epplicabte law provides otnarw�se, all payrt�ents receNed by Lender under —�
<br /> � ' � parayraphs 1 8nd T. shall be applied: tirst,to any prepeyment char�es due under the Noto; second, to emounts payabb under ,- �
<br /> �;: f. � parepreph 2;thKd,to hterest due;fourth,to prheqel due; and laet to any lete cherpes due under tha Note. --e.--
<br /> • 4. Ci�i�4&; Li6ii5. Bw�uwei shaA p.:y at! 6;�:��, assas��r�nts, chara^s, !inee ertd Empoei!k�ns ethk+oteble to the __- __- ___
<br /> Property wh�:h may ettain prbrfty over this Securlly inslrument, and Ieasehold paymenta or pround rente,if eny. Borrowar sh�ll i�-=
<br /> pey these obli8atbn5 in the manner provided h puaynph 2, or M not pald In that manntir, Bortower ahal pay them on tkna � �
<br /> dkocty to the person owed payment. Borrower ahall promply lumish to Lentier all not�es o}amounte to be pald under thk
<br /> paraQraph. If 8orrower makes these payments directy. Bomower shall prompty (umish to Lender recelpts evidanchp tha
<br /> , paymente.
<br /> Borrower shoA prompty dlscherpe tny Ilen wh�h has prlorky over this Security Instrument unlass BoROwer: (a) aqross In
<br /> � wrRhp ta tAe puyment of the oblipatbn secured by the lien h a mannar ecceptable to Lender; (b) contests fn qood fakh the
<br /> Ifen by,or �efends a9ainst enforcement of the lien I�,leAel proceedinps which In the Lenders ophbn operate to pre�vent the
<br /> }; enforcement of the lien; or{c)secures Nom the holdar of the Iien an agreement satistactory to Lender subordinating the Nen to
<br /> , this SeCUrky InsWment. If lender determines that any pert of the Proporty Is subJect to a Ben wh�h may atttin priorky ovir this
<br /> � ��� SeCUrity Instrument, Lender may qNe Borrower a notice Identltyinq the Ifen.Borrower shall setisty the ibn or t�ke one or moro of
<br /> � .`��1 the aotbns cet forth above wRhin 10 days of the pNinp of not�e. -
<br /> _ 6. Hazard or Property Insurance. Borrorrer lh411 ket►p the improverrient6 now exlstlnp Or herelfter ereCted On the —
<br /> - � � Property Insured eyafnst bss by IYe, h�rd& hCUded withh the term 'oxtended coveraye' and any other harards, inCludhy
<br /> ibods or fbodinp,for whfch lender requkes Insurance. Tn�Insurance shall be malntalned h the amounts and tor the perbds
<br /> ' th�t Lender requkes. The Insurance carcfer providing the haurAnCe shall be chosen by Borcower subJect to Lenders npproval ��_
<br />:^• ��" whfch shall not be unroasonflbly wlthheld. It Bonower lalls to mahtaln coveraqe described above, Lender may, et Londer'a ��__=-
<br /> . optlan,obtoh covernge to protect Lender's riyhts In the Property h acco�danCe wRh pare�raph 7. `-
<br /> � �_ All hsurance polbles and renewats shell be acceptabie to Lender and sha11 Include a standard mortpege clause. Lendar --
<br />• �- ahall htve tAe �Ipht to hold the polfcies and renewtis. If Lender requfres, Borrower shell promptly gLe to Lender ali recepts o} '�tl;:�_�
<br /> pakl premfums and renewal not�es. In the event o1 loss, Borrower shell pHe prompt noY�ce to the hsurence carrler and Lander. •`. , ���'
<br /> ,�•,, � Lender may make proof of bss H not made promptty by Bortower, ��'' �;_. ��
<br /> Unqss L6ndBr and Borrow6r oth6rwlse aqree n rvrrting,hsurYnce proc66ds shail tte appN6d to resloratbn or repak of th� '�,.-'
<br /> , � Property damaqed, if the restoratbn or repa�i is economl�aly teasibte end Lender's securky Is not tess¢ned.If the restontbn or �•;•:r�
<br />- ' repak Is not economfcaly feasWfe or Lender's security would be lessened,the Insu►ance proceeda shail be �pplled to the sums ;.,;
<br /> , . secured by thls Securfty Instrument, whetAar or not then due, wkh eny excess pald to Borrower. If Borrower abandons the :�:1�� " '
<br />_ , Proporty, or does not 8nswer withh 30 days a no6Ce hom Lender thet the InsuranCe cartfer has of}ered to settle a clakn, then y ,�,�,�
<br /> : Lender may colleCt the Insurance proceeds. LenCer mev use the proceetls to repalr or restore the Property or to pay sums , �,
<br /> seCUred by this SeCUrity InstNment,whether or not then due. The 30�day perbd wlll begin when the notiCe Is gNen. -!����`
<br /> Unless Lender and Borrower otherwise agree in w�Rine, eny eppl�atbn ot proceeds to principel shall not extend or ��'s��•�
<br /> , postpone tho due date of the monthty payments relerred to In peraqraphs 1 and 2 or change the amount of the payma�ts. If '
<br />-. uncler paragrnph 21 the Property is acquk+ed by Lender, Borrowers right to any tnsurunce polbies and praceeds resuRinp from
<br /> a��w�� 1� IAn Orn�nA� nrinr �w IMa e •�MMIn� �Msll n • �� I�ilee �n �hn nMM� �f �An • i��.IML Cwn..�Yu In�M��wN
<br /> . .—_ _ ' . _ v�•.�0� v ...� ..�r�..� Y..�. .v ...� �.;rtin�v.. �.+��Y�r� �v rw.v�n .� ...� �....w.• �. �..v v�...�r r� �•.w� vw�.�� ...r�.�..��n.� —_—. - - ._..
<br /> knmeAtately prbr to the acqulsRlon.
<br /> 6. Occupancy, Prea�rvetton. Malntenence and Protection of the Property; Borrower'a Loan
<br /> - Appllastlon; Leaseholds. Borrower shall occupy,es4eblish,and use the Propc�rty as Borrower's pnc�ipal resldence wkhh
<br /> sbcty days after the executlan of thls Security Instrument end shall contfnue to occupy the Property es Borrowers pnc�fpal
<br /> j rosldence for at least one yeer efter the date of ocCUpenCy,untess Lender otherwiso ngroaa fn tirriting,whlch concent ahell not
<br /> ; he unrensonsbry wkhheld,or unless eatenuating c�curnslances exht wh�h ere beyond Bortower's convol. Borrower shali not •
<br /> i ( destroy,damage or knp8k the Property,allow the Property to deterlerate, or commk waste on tho Property. Borrower shaN be in
<br /> delauR A any forfeRure ection or proceediny, whether cNf� or crknhal,Is bepun that In Lender's good fa�h Judyment could resuft
<br /> ! In toAeNure of the Property or otherwise materially ImpaP the lien created by this Security Instrument or Lenders security interest. I
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