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<br /> • • � TOOETHER WITfi aW lhe Nnprovemente now or hereafter arected on the property, and oA e+isements, appurtenAnaes, and
<br /> - . fuctures now or here�Aer�paA of the proporty.AM ropkcementa and �dditlone sh�N el�o be covered by thls Secudty Inatrummt. -
<br /> All b1 the toregohg la reterted to In Ihla Securiry Inetrummt es the'Property.' _
<br /> � BORROWER COIfENANTS that Bortower Is lawfully selzed oi ihe estate hereby convoyod and has tlie ifght to grant end
<br /> convey the F'roperty end Ihat the Properly Is unencumberod, except lor encumbrunces o1 rocord. Borrower werrnnts and will
<br /> �� defend generally tha tl�e to the Property egelnat ni1 claims and dem�nde,subJect to any ensumbrnncea �f record.
<br /> THIS SECURITY IN9TRUMENT combines unitorm covenante for n�tlonal use and non•unilorm covonants with limlled,�
<br />�� vulatlons by Judsdictlon to conatitute� uni}orm securlty Instrument covering re�l property �
<br /> UNIFORM COVENANTS. Borrowa► entl Lender covonAnt end rgree es tollows:
<br /> 1. Paym�nt of Principnl md Int�r�st; Pnpaymwnt �nd Lat� Char�s�. Borrower shaU promptly pay when �
<br /> � due the princip�l of and int�nest on Ihe debt evldenced by lhe Note and eny prepaymmt end leta charges due under the Note. Q
<br /> 2. Funds for Taxo3 ahcl Insuranco. 3uhJect to appEic�lbte law ar to n writton waiver by l.ender, Borrowr.r she�l pny
<br /> ,��;`�',N�,�. to Lender un thn dwy monthy paymenta are due under the Note,until the Note Is paid In fuY, e aum ('Funda') tor: (a) ye�rty�
<br /> taxes and a.�essmenta whlch may ettaln priority over this 3ecuMry Inatrument as e Ilen on ihe Property: (6) yearty leasehold��
<br /> paymentr or grnund ��ntm on ihe Property. II any: (c) yearly haz+rd or properry Insurance premWma: (d) yearly flood Insumnce� �•
<br /> ,:,,
<br /> premlumg.It eny;(a)yoarly morlgage Insurence premWma, If any; and (Q any sums payable by BoROwer to Lender In accordance�
<br /> wfth tha prnv"t:�ont� 01 pumpre�ph 6,in Ileu ot the payrnant oi mortgape insurence premluma. These Items ara called `Esciow
<br /> Itams.' Londer rn+�y.a1 any time. collect and hold Funds In on amount not to exceed the m�xlmum amount a lender for a
<br /> % fodcxt�ly rq!att�d ma�tpwpo IaAn may requlre for Bortower's escrow nccount under the federal Reel Eotnte Settlement Procedures .
<br /> � � I' Aof oi 1A74 n�ame�ncicd hom time to lime, 12 U.3.C. �2601 et seq. ('RESPA"), unless another law that applles to the Funds fi
<br /> sots a Ifasser amaunt. If so, Lender may, at eny time. coilect end hold Funds In nn emount not to exceed the lesser amount. _
<br /> �i L�ndar may eatinw.tc�ihe amount oi Funds duo on the basis ot current data and reasonable estim�tes of expenditures oi future �
<br /> �� �� Escrow ftams or oth�mviso In accordanae with applicabte taw. ;,�
<br /> . Thp Funds sht�ii be held In sn Institution whose depoaRs ere Insured by a fede►al age�toy,InstrumenU►Iity, or ent(ty(Induding it.
<br />_ � Lxndar, (f Lendnr Is such nn Inatitutbn) or In any Federel Hame Loan Bank. Lender sheN appy tho Funds to pey the Escrow i3
<br /> ' . It�ms. Lendnt may not cherga Borrower for hoiding end applying the Funds,annuaity enelyiing the escrow account, or verilyk�g r`
<br />- . . the Eacrow itens. uNess Lender pays Bonnwer Interest on lhe Funds and eppUcable law permits Lender to m�ke suah e -
<br /> chprge. Haw�ver, Lender may requke Bonower to pay e ono-time cherge for an Independent real estate tex reportinfl service "`
<br />. , � used by Lender in connectian with this loan, unless appNc�ble law provides othe�wise. Unless an agreement Is made or `'.
<br /> appiicable law requires tnterest to be pald, LendBr shall not be required to pny Borrower any interest or eamings on the Funds. u
<br /> 4• Bortower and Lmder may agree in wriUnp, however, thet interest shall be peld on the Funds. Lender ahall gNe to Borrower, _-
<br />- 4�� without chuge,�n annuai accounting of the Funds, ahowing credila and debits to the Funds and the purpose for which each �
<br /> dabit to the Funds was mede. The Funds are pledged es addAional secu�ity tor eH sums secured by tho Security Instrument. -
<br />� . •=! It the Funds held by Lender exceed ihe amounts permitted ta be held by epplicabie law, Lender shaY accaunt to BoROwer
<br />�' for the excess Funda In accordence with the requirementa ot appl�abie law. If the amount ot the Funda held by Lende►at any -
<br />;?�'-� ' � ilme Is not suffldent to pay the Escrow Items when duo, Lender may so notily Bonower In writing,and, In suoh ctise Borrower
<br /> ' sfiali pay ta Lender the amount necessary to make up tho doflciency. Bonower shall make up the deflclenny In no more than
<br />-+t�"," ': tweive monlhy paymenis,at Londer's aole discretlon.
<br />;�_:��:a;;;;' Upon payment In full of aN suma secured by this Socurfty Instrument. Lender shall promptly refund to 8orrower any Funds
<br />-_- .`';� ~ held by Lendor. It, under paregraph 21, Lender shall ecqulre or seM tha PropeRy, Lender,prior to tha acquiskion or sale of the
<br />�,� :{.f• �:� Property, sluifl �ppy eny Funde heltl by Lencler wt tha ume ot acqutsinon or sato es a credit agatnst the aums securetl by tnls
<br />_,.�.•.�. . . security Inatrurnent.
<br />'�'�^ ' ' " 3. Appliettton oi PAym�nts� Unless nppiicable law provldes othervrise, eN payments recelved by Lender under
<br />�.;.:,. . �; . �_
<br /> ��,;4r�.L;�s paragnpha 1 and 2 shall be appHed: tirst, to any pre>payment cherges due under the Note; seeond,to emountn payeble under
<br /> Yr��..;�;;.,.� paregraph 2; thtd,to Intereat due; tourth,to pdnGpal due; end last,to eny late charges duo under the Note.
<br /> �°�`.'f-.-°' 4. Chirges; Uees. Borrower shali pay ell taxos, assessments, charges, fines and (mposfllons attributable to tho
<br />-°'_��= �'�" Pwp�ty wAi�t�r��ay etGiii�►+�luuty ovrr tiiis aercurity insdurnan6 unJ itlaouhuld paymwd8 or ground rents,It atiy. 8or��wer ahaii °
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<br />����,�!� pay these obilpations In the matiner provided In peregreph 2, or B not pnid In that manner. Borrowe► shall pay them on tkne
<br />__��,�� directly to the person owed payment. Bonowe► shall prompty fumish to Lender ell notiaos of amounts to be paid under this
<br />-=�;�y�.;=:.-�,,•� pareyreph. If Borrower makea these payments directly, Borrower sheM promptiy fumish to Le�der recelpts evldonoing the
<br />�o.=���,-i^_T�7 . Paymenta.
<br /> ---�_N����� Borrower shaN prompfy discharge any Ilen whlch has prfortty over thts 8ecurity Instrument unless Borrower. (a) agrees in
<br /> __-°�°���� wrtting to lhe payment of ihe obligatlon secured by the Ilen In a manner eccepteble to Lender; (b) contests In qood infth the
<br />�_ _= Nen by, or detends apeinst enforcenxnt ot the Ilen In, lepal proceedtngs whlch In tha Lender's opinlon operate to prevent the
<br /> - ��-�a enforcement of the Ilen; or(G) aecura irom the holder ot the Ilen nn agreement aatistectory to Lender subordinetMg the Ilen to
<br /> W_�'�'� thls Securfly InaWment If Lender determines that any pert oi the Property is subject to a Ilen which may sttaln prlorily over thls
<br /> _ ,__��, Security Instrummt, Lmder may ghre Bortower a notice IdenlHying the Nen. Bonower shaB saUsty the Ilen or take one or more of
<br /> ---=- the actions set lorth above within 10 days ot the gYing o1 notice.
<br /> --�--'x!. b. H�sard or Prop�rty Insura�a�. Borrower shall keep the improvementa now existing or hereafter erected on the
<br /> �u: ;�`� ' Property inaured agalnst loss by fire,hezerds Inciuded wilhin the term 'extended coverege" end eny other hazards, including =
<br /> ����� Iloods or flooding, for whlch Lender requkes insurance. This Insurance shau be malntelned in the emounts and for the perloda
<br /> _,:;�:�;:r,� thet Lender requlres. Tha insurance cartier providing the Insurance shap be chosen by Borrower subject to Lender'a approval
<br /> —_-= whlch ahaq not be unreasonaby wilhheld. If Borrower falls to mainteln coverege descdbod ebove, Lender may, at Lender's
<br /> option, obteln coverage to protect Lender's rtghts tn the Property in accordance wilh pareqraph 7.
<br />--�—'�,� NI insuranee poYdea end renewals shall be acceptable ro Lender and shall (nclude a stnndard mortgege clause. Lender
<br /> -�-�--�� shaN have the dght to hold the poildes and renewals. If Lender requlros, Borrower shall prompty gNe to Lender ell recdpta of
<br /> :...�,�:.:� pdd premiums end renewal notices. In the event of loss, Bortower�han give prompt notice to the insurence cartier and Lender. -
<br /> Lender may make proof ot losa d not made promptly by Bortower. -
<br />--"::����::js+• Unless Lender and 8orrowa otherwise agree In wdtlng, insurance proceeds shall be applled to restoration or repalr ot the -
<br /> + �
<br /> •,�=`c, Property damaged, if ihe restoraGon or rcpalr is economically feaslble and Lender's secudty Is not lessened. If the restoraUon or W-�
<br /> � repalr Is not economlcally feasible or lender's securily would be lessened, the insurance proceeds shall be appUed to the sums �.,
<br />�;�' �� . secured by this 3ecurity Instrument,whether or not then due, with any excess pald to Bonower. It BoROwer abandons the -
<br /> � Property, or does not an3wer wRhin 30 days a notice Pom Lender that lhe Insurance csrtier has ottered to settle a claim, then �
<br /> � lender may coNect the insurance proceeds. Lender may uae the proceeds to repeir or restore the Proptriy or to pey sums
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