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<br /> � ' TOQETHEA WITH eH the Improvemenls now or hereatter erocted on the property, end all easements, appurtenancos, nnd 1 -=
<br /> Ilxtures now or hereeller e part ot the propeRy.All repucements end addltlona shall also be covered by thl5 Security Instrument. _
<br /> All ol the loregoing is relerred to In this Security Instrument�a the'Property.' ��:
<br /> BORROWER CQVENANT9 thet Borrower is law(uly selted o1 the estate hereby eonveyed and has tho dght to grant and ti<<:.
<br /> convoy the Property end ihat ihe Prope►ry Is unencumbered, except lor encumbrances of record. Borrower werranis and will
<br /> defend peneralty Iho tiile to Ihe Property agaNSt all claims and demunds, subJect to nny encumbrances ot record.
<br /> THI� SECUHITY INSTRUMENT combNes untlorm covenanis for natlonnl use and non•unllarm covenanls with limited�
<br /> vanations by Jurisdictlon to constitute e unllortn security Instrument covering real property 1
<br /> UNIFURM COVENANTS. Bonower and Lender covenant and agrea as Ioliows , '
<br /> 1. Payment of Princlpal and Intereat; Prepaym�nt and La4e Cherges.Borrower shall promptiy pay when �
<br /> duo the principol 01 end interest on ihe debl evidenced by iho Note and any prepayment and IQte charges due under Iha Note. ;���,
<br /> 2. Funda far Taxes end Inaur�nes. Sub�ect to nppucable law or to a writtan waiver by Lender. Borrower shall pay :
<br /> � to Lender on the day monthly payments ara due under the Note,unlJ lho Notc Is pnld in tull. a sum ('Funds") for (a) yeariy .�,
<br /> taxes �nd as�essments whlch may ariain prioriry over thfs Securlty Instrument as a lien an the Property: (b) yearly loasehold ,
<br /> ea ilood Insuranco
<br /> peyments or ground rents on the Propertq.If any; (c)yeady hazard or propeRy insurance premiums: (d) y rty
<br /> ""�� � eart moK c Insure.^.ce rpmlums. il an and ID an sums aavable by Bortower to Lender in accordsncn `; T
<br /> � premiums,it any,(e} y �r g�g P Y Y -
<br /> with Ihe provfslons ol paragraph 8, In tiou of ihe payment o1 mortgage Insurance premlums. These Items ar9 called 'tscrow •� .:r-�--
<br /> � Items." Lender may,at eny Ume. collect and hold Funds in an amount not to exceed the meximum amount a lender for a ����-R
<br /> I Iederaily related mo�tgege loan may requlre for Bcrrower's escrow account under the tederal Real Estate Setticment Procedures _
<br /> Act of 1974 as amended hom tima to time.l2 U.S.C. �2601 et seq. ('RE3PA"). unless enolher law ihat applies to the Funds
<br /> 'i sets a lesser amount. If so. Lender may,at any time,collect and hold Funds in an amount not to exceed the lesser amount. �
<br /> � Lender may estimate the emount ol Funds due on the basls o1 current dat� and reasonable estimates of expendltures of future + ��-_
<br /> Escrow Items or otherwlas In accordance wilh eppllcaMe Iaw. _
<br /> The funda shall be held h an InstituUon whose deposits are insured by a federal agency, Instrumentallty, or entiry(including =_
<br /> Lender, it Lender fs such en InstituUon) or fn any Federal Home Loan Bank. Lender shail apply the Funds to pay the Eacrow � ; _
<br /> � Items. Lender may not charge Borrower for holding and applying the Funds, annually analytmg the escrow account, or veritying ;�•
<br /> the Escrow Items, unless Lender pays Bonower Interost on ihe Funds end appliceble law pertnits Londer to meke such a _�:;�_—
<br /> charge. Fiowever, Lender may require Bovower to (J8y A on�time charge tor en independent real estate tax reporting service
<br /> used by Lender fn connection with this loan, unless applicable law provides olherwise. Unless an agreement is made or
<br /> '' applicable law requires Interest to be paid,L�nder shan not be required to pay Borrower any interest or eamfngs on thv Funds. �'''�
<br /> Bortower end Lender may egree in writin9, however,ihat interest shall be paid on the Funds. Lender shaU give to 8ortower, _.._—
<br /> without cherge,en annual accounUng of Ihe Funds, showing credits and debits to the Funds and the purpose tor which each ��'-
<br /> �� debit to tha Funds was made. The Funds ara pledged as addttlonal aecudry 1or ell sums sea,red by the Secudty Instrument. - -- _
<br /> If the Funds held by Lender exceed the amounts permitted to be held by applica6le law, Lender shall account to Bonower �_
<br /> • tor the excess Funds In eccordance with ihe requirements of epplicable lew. If the nmount of the Funds held by Lender at any i"
<br /> tlme fs not sutficlent to pay lhe Esc�ow Items when due. Lender may so notify Borrower in wrfting, and, in such case Bortower �^�Y
<br /> shall pay to Lender the amount necessary to make up the deflciency. Bortower shall mako up the deflclency In no more than
<br /> ,� twelve monthty payments,at Lender's sole dlscretlon.
<br /> Upon payment In full oi all sums secured by this Security Instrument, I.ender shall promptly refund to Bonower any Funds _
<br /> � held b�r Lender. It, under paragraph 21,Lender shall acqulre or sell the Property, Lender, pdor to the acqulsition or sale of the --
<br />__ Property. shall aaply any Funds held by Lender at the tlme of ecqulsidon or sale as a credit agalnst the sums secured by this
<br /> Security Instrummt.
<br /> 3. AppIlC�tiOn of Payments. Unless applicablo law provides othervvise, all payments recelveci by Lender under
<br /> ' ��r paragrapha 1 and 2 shall be eppiled: first, to any prepayme�t charges due under the Noto; second,to amounts payable under
<br /> ' paragreph 2; third, to Interest due;lourth,to pdncipal due;and lest, to any late charges due under the Note.
<br /> 4. Chal'gs9; Lians. Borrower shaU pay au taxes, essessments, charges, fines end Imposftions ariributable to the
<br /> Property which may eftain prlority over this Secu�ity Instrument.end Ieasehoid payments or ground rents, f(any, Bortower shall
<br /> pay these ob�getions In the manner prorlded In paregraph 2, or if not paid in that manner, Bortower ahall pay them on tfine
<br /> ' ditectty to the person owed payment. Borrower shaq promptN�umish to Lender all notices o1 amounts to be pAld under this �
<br /> paragraph. If Borrower makes these payments direstiy. Bortower shall promptly tumish to Lender recefpls evidencing the
<br /> payments. -
<br /> Borrower shall promptty discherge eny lien which hes prloiily over this Security Instrument unte3s Bonower: (a) agrees In
<br /> wdting to the payment of the obllgatlon secured by the Aen In a manner accoptable to Lender. (b) contests In good falth the
<br /> Ilen by, or delends agalnst enforcement of the Ilen In, legal proceedings whlch In ths Lender's opinlon operete to prevent tha
<br /> entorcement o1 the Ilen; or (c) secures from the holder of the Ilen en agreement satistactory to Lender subordinating the Ilen to
<br /> � ' this Secudry Instrument. It Lender detertnines that any part of the Property fs subJect to a Aen whlch mey etteln prlorfry ovet thls
<br /> _ 9ecu�ity Instniment, Lender may glve Bortower a notice Identitying the Ilen. Borrower shall setisfy the Iien or take one or more of
<br /> the ectlons set forth ebove withfn 10 days of the glvNg of notice.
<br /> 5. Haz�rd or Propsrty I�surence. Borrower shan keep the(mprovements now existing or heroafter erected on the
<br /> Property Insured aflelnst loss by fire, hazards Included wKhin the term 'extended coverage" and any other hazerds, Including
<br /> , floods or Aoodng, tor whlch Lender requlres Insurance. This insurance shall be malntelned in the amounts and tor the perlods
<br /> that Lender �equlres. The Insurance car�er provlding the Insurance shell be chosen by Borrawer subJect to Lender's approval
<br /> whlch shali not be unreasonably withhdd. If Bortower fails to ma�ntain coverage desaibed above, Lender may, at Lenders
<br /> � - opUon,obtain coverege to protect Lendera rights In ihe Property In accordance with paragraph 7. _—
<br /> • All insurance poBcies and renewels shap be accep4able to Lender and shall Include a standard mortgage clause. Lender
<br /> sheli have the dQht to hold the policfes and renewels. N Lender requires. Bortower shell promptly give to Lender ell recelpts of _
<br /> pald premfums end renewal notices. In the eve�t of loss,Bortower shall give prompt notfce to the Insurance catrier and Lender. —�_
<br /> Lender may meke praof of lass if not made promptty by BoROwer. ��`':
<br /> Unless Lender end Bortower othenvise agree in writing, insurance proceeds shall be epplled to restoretlon or repair o1 the ��:-.�..,
<br /> Property dameged, B the restoration or repair is economically leasibl3 and Lender's security Is not lessened. If the restomtion or .r.__--
<br /> repalr fs not economloaily teasible or Lender's se�urity would be lessened, lhe fnsurance proceeds shali be epplied to the sums �'���"
<br /> . secured by thls Security Instrument, whelher or not then due, with any excess �ald to Bortower. It 9orrower abandons the '�1-
<br /> _ ' Property, or does not answer within 30 days a notico irom Lender that ihe Insurence cartier has oftered to settle a clalm, then ,,;,-:
<br /> Lender mey collect the Insuranco procceds. Lendar mny use tha proceeds to repalr or restoro the Property or to pay sums ��:.;.(.
<br /> � secured by thls Security Insimmont, whether or not thon dau. The 30�day psdod wtll begln wh�n the notice Is given. +✓.;,
<br /> Unless Lender and Bonower othenrlse agrre In writing, any applicalion ot prOCeeds to prindpal sh�ll not extend or .
<br /> postpone the due date of the monthty paymentu relerced to In paragrapls t and 2 or change the ert:ou��t ot the payments. If
<br /> under paragreph 21 tho Property is ecqured by Lender. Bortower's right to any insurance policies end proceeds resufting from .
<br /> damago to the Property pdor to the ecquisflion shali pass to I_ender to tAQ exteat of the sums 6y thls Security Instrument
<br /> immediatey pdor to the acqulsftlon.
<br /> 6. OccupanGy, Prosonration, Maintenance and Protoction ot the Properiy; Borrower'e Laa�
<br /> ... A.�rJ{wd��n� � a�eahnldn. R�nnwa�ha11 nccunv. estabush. end use th¢ Pronertv as Bortower's prinGpal residence within
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<br /> sixty days ailer tha execution of thls Secuilry in3tmment and shall continue to occupy the Property as BoROwer's principal
<br /> residence tor et least one year efler the datu of occupancy. unless Lender otherwise agrees in writing, which consent shall nol
<br /> � be unreasonebly wilhheld, or unless extenuating cirCUmstances exist which ure beyond 8orcower's control. Bonower shell not
<br /> i destroy,damage or impair ihe Property.allow the Praperry to deteriorate. or commit waste on Ihe Properly. Borrower shall be in
<br /> detault it eny lorteiture ection or proceeding, whether civil or aiminal. �s begun that in Lender's good feith judgment r,ould result
<br /> � in foAeilure ol lhe Property or otherwise matedally impair ihe lien ereated by Ihis Security Instrument or Lender's ser,urity interest
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