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<br /> I TOOETHER WITH all the Improvements now or horr•A}t�y e�ected on the property. and ell easoments, eppurtenences, nnd ' �
<br /> ' tlxtures now or hereefter e pert oi the property. All replacemenis and additlons shell elso be covered by thls Securlry Instrument.
<br /> � All of the iorepoing Is relerred to in thls Security Inatrument es 1he'Property.'
<br /> , BOP.ROWER COVENANT9 ihet Dorrower Is lewtully seiteA ol the ostato hereby r,onveyod nnd has the rlflht to grent and
<br /> i convey Ihe Property and that the Properly Is unencumbered.except lor oncumbrences of record. Borrower warrents and wlll
<br /> delend generally the lltle to the Property egalnsl ell clalms and demands,subJect to any encumbrences of rncord. �;�
<br /> 7HIS SECURITY INSTAUMENT cambines unlform covmants for netlanal use end non•unifonn covenants with Iimiterl
<br /> varlutlons by jurisdlction to constitute a unilorm aecunty Inatrument coverinq real property. � _
<br /> UNIFORM COVENANTS. Borrower end Lenda covenanl�nd egree es tollows: e when
<br /> 1. Paymant of Principal and Interest; Prsp�yment end Late Cherges. Borrower shatl promptry p Y I �
<br /> due the princlpal of and interest on the debt ewdenced by the Note anJ any prepayrnont and loto charges duc uncler tl�e Note �
<br /> i 2. Funds for Taxos and Insur�nc�.SubJect to eppAcable lew or to e wrltten waiver by Lende►,Borrower shsll pay
<br /> to Lender on the day monthly paymenta ere due under ihe Note,untll the Note Is pald In tull, a sum ('Funds`� for: (a) yearly
<br /> �• � texea and assessmenta whlch may attafn priority over lhls Secudry Instrument as e Ilen on tho Property: @) yeaify leesehold
<br /> paymenta or ground renta on the Propert/, If any; (c)yearry ha2ard or property Insurence premlums: (d) yenrly tlaod Insurance
<br /> premiums, If any: (e) yearly mortgege Insurance premlums, it eny; end (� any aums peyeble by Bortower to Lender in accordance _ _
<br /> with tho provlslons of paragreph 8, In Ileu of the payment ot mortgaqo Inaurance premlums. These ilems ara called 'Escrow -
<br /> Items." Lender may, at any llmo, collecl and hold Funds in en amount not to exceed the meximum amount a lender for a �
<br /> tederelly related r��ortgaga Ioan may requke for 8orrower's esuow account under the federal Real Estate Seltlement Pracedures .�`
<br /> Act ot 1974 as eme�ided from tlme to time,12 U.S.C. g 2601 et seq. ('RESPA"), unless another Inw that applles to the Funds �,
<br /> sets a losset amount. II so.Lender may, at any time, co{lecl and hold Funds In an amount not to exceed the lesser amount. . s:}�
<br /> Lcwider may estimate the amount ot Funds due on the basls of curcent data and reasonable estimates o( expendltures of tuture ��
<br /> Escrow Items or otherwise in nccordance wlth appticable law.
<br /> The Funds shall be held In an fnsNtution whose deposfls a�e Insured by a federal egency, instrumentality,or entity Qncluding . ,•,
<br /> Lender, if Le�der Is such an Instltutlon) or in any Federal Homo Loan Bank. Lender shall apply the Funds to pey the Escrow ',, �•`y„`;,• �_ --
<br /> Items. Lender may not charge Borrower for holding and appyfng the Funds, annuelly analyzing lhe esuow account, or verfiying ;�.:,• _
<br /> the Escrow Items, unless Lender pays BoROwer Interest on the Funds and appilcable law permits Lender to make sucfi e
<br /> cherge. However. Lender may requlre Bortower to pay a one-time charge tor an Independent real estate tax reporting service
<br /> used by Lender In connectlon with thls loan, unless epp�able law provldas othenvlso. Unless an agreement Is made or • •
<br /> applicsble law requlres IntQrest to be pald, Lender shaU not be requlred to pay Borrower any fnterest or eamings on the Funds. ,;_
<br /> BoROwer and Lender may agree In writing, however, thnt Interest shall be pald on the Funds. Lender sh�l give lo Bortawer.
<br /> • without charge, an annual accounting oi lhe Funds, shawing credits and debits to the Funds and the puryose ta whlch each .
<br /> deblt to ihe Funds was made. The Funds are piedged aE additional security for all sums secured by the Sewdty Instrument :.y t_�
<br /> � If the Funds held by Lender exceed the amounts perndtted to be held by eppiicable law, Lender shall eccount to Bonower
<br /> for the excess Funds In accordance wHh the requirements d epplicable law. If the amount of the Funds held by Lender at any
<br /> tlme Is not sumcient to pay ihe Escrow Items when due, Lender may so nottiy Borrower in writing, end, in such case Bonower ���;,�•_
<br /> , shell pay to Lender the emount necessary to make up tF�e defldency. Borrower shall make up the de0ciency in no more thnn �'✓j� ;�i—
<br /> � twelve monthly payments,at Lender's sole discretlon. r _:�
<br /> ��fl;; F���t �� fiall nt ail aums secured by this Securily Instrument, Lender shall promptty retund to Borrower any Funds �, :�
<br /> ,.,�1�'.: held by Lender. If, under paragraph 21,Lender shall acquire or sell the Property, Lender, prlor to the acquisicion or suin vi ii�a �..�.-
<br /> 'r'�' Property, shall appy any Funds held by Lender et the time of acquisftion or sale as a aredit agalnst the sums secured by this E�'
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<br /> �; Securily Instrument. �'�#i
<br /> 3. App1lCYtlOn Of PeylYlet�ts. Unless appAcable I�w provldes otherwise, all paymenta received by Lender under � _
<br /> : � paragrephs 7 and 2 shali be applled: flrst, to eny prepayment charges due under the Note; second,to amounts pnyable under �—"° -
<br /> paregraph 2; third,to Interest due; tourth,to principal due: end lest, to an�•late charges due unda the Note. _
<br /> :i:'r 4. Cha1'ges; Uet18. Borrower shail pay all taxes, assessments, cherges, flnes nnd ImposRlone sttributable to tha �. -- —
<br /> �'' Property whlch may attaln priority over thls Securky Instrument, and leauehold payments or ground rents, if�ny. Bortower ehnH �
<br /> � pay these obligatlons In the manner provided In pnragraph 2, or if not pald In thet manner, Borrower shetl pay th�n on tkna �
<br /> direotly to the person owed payment. Bortower shatl pramptly Iumish to Lender ail notices ot amounts to be peld under thia
<br /> pnragreph. It Bortower makes theae payments directy. Borrower shall pramptly tumish to Lender recelpta evldmdng the
<br /> payments. —
<br /> �� BoROwer shall promptly discharge eny Ilen which has priodty over this Secu�ity Instrument uniess Bortowe►: (a)egrees In
<br /> �`•i�.�' writing to the payment ot the obilgatlon secured by the Iim in e manner accepteblo to Lender; (b) cantmts In good faith the
<br /> I'��'� Ilen by, or defends agelnst enforcement ot the Ilen In, legd proceedings whlch in the Lender's apinlon operate to prevent tha
<br /> � enforcement of the lien; or (c) secures 7om the holder of Ihe Ilen en agreement saUstactory to Lender subordineting the Ilen to
<br /> ' this Securily Instrument.It Lender deterndnes that eny part of the Property Is subject to a lien which mty attetn pdoriry over this __
<br /> • � 3ecurlty Instrument, Lendor may glve BoROwer e notice identifying the Ilen. BorrcrNer shail satisly the Ilen or take one or more of
<br /> ,�r:.'�•� � the ections set torth above wNhin 10 days of the giving.:f notice. �a
<br /> =�' �q � ItCe.Borrower shail keep the Improvements now existlng or hereefter etected on the
<br /> ? :,;. 5. Hazsrd or Property Ir�_u a
<br /> � �•�•.+•�`�' Property insured agalnst loss 6y ilre, hu.ards induded w�hln the term 'extended coverage' and any other hazerds,Including _
<br />_ g floods or flooding,for which Lender requires �naurence. This insurence shall be malntelned in the emounts and 1or lhe perlods
<br /> � that Lender requlres. The insurence car�er providing the insurance shall be chosen by Bortower subJect to Lender's approval - _
<br /> �`' . �.•-•.,,� which shell not be unreasonably withhetd. If Bortower lails to mafntnin coverage descdbed above, Lender mey, et Lender's "�
<br /> optfon, obtaln coverage to protect Lender's dghts In the Property In accordance with paragraph 7. .�''���R,
<br /> � � ��,,;:,,'_�, NI Insurance policles and renewals shall be acceptade to Lender and shall Include a standard modgage dause. Lender 4,y�;;,�:
<br /> • shell have tne right to hold the policies and renewals. It Lender requfres, Borrower shell promptly give to Lendtt all receipts o1 fr•,:�w..'-
<br /> � pa�d premlums and renewal noticos. In the event of loss,Bonower shell gf�e prompt notice to the insurance car�er and Lender. .'y:k,�G� .
<br /> Lerrder may meke proot of loss N not made promotly by Borrower. y��• '':"��`��
<br /> Unless Lender and 8ortower othenvlse agree In writing, insurence proceeds shall be nppAed to restoretlon or repair of the �?�,���. ,
<br /> NropeRy demaged. if the restoretlon or repalr is economicaYy feasible and Lender's security Is not tessened. It the restoratton or ;v'.:i ;,..i d•�o �
<br /> repalr Is not economically feasibie or lender's security woukf he lessenttd,the Insurance proceeds sheH be app�ed to the sums ...,..:'".
<br /> secured by this Securiry Instrument, whether or not then due, with any excess pald to BoROwer. 11 Barower abandons the ,
<br /> Property, or daes not answer within 30 days a notice fran Lender that the fnsurence cartier hes ottered to seme a clalm, then
<br /> Lender may collect the ineurence proceads. Lender may use the proceeds to repalr or restore the Property or to pay sums
<br /> seeured by this Secutity InsWment,whether or not thon due. The 30-day pori�d wfll begin when the notice is gHen. �
<br /> Untess Lender and Borrower oth�rwlse egree In writing, any applicaUon of proceeds to principal shaN not extend or ,
<br /> postpone the due date ot thct monthly paymenls relerred to in parugraphs 1 end Z or change the amount of lhe payments. It
<br /> under paregreph 21 the Propehy Is acquired by Lender, Bortower's right to any insurance policies and proceeds resufting hom
<br /> damage to the Property prior to the acquisttlon shali pass to Lender to the extent of the sums by this Security Instrument
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<br /> 6. Occupancy, Preservation. Maintenance and Protectian of tho Property; Borrower's Loan � �
<br /> Applieatlon; L9i188hOlds. Borrower shail occupy, eslablish, and use tho Property as Borrower's principal r2sidence withfn I
<br /> sixty days aiter the executfon ot this Security Instrumenl and shall continuo to occupy the Properly os Bortower's principal
<br /> residence tor at Ieast one year after tne date ol occupanry. unle::s Lender othenvfse agrees fn writing, which consent shnll not
<br /> � be unreasonably withheld,or unless extenuatmg circumstances exiat which are beyond Borrower's coniral. Borrower shall not �
<br /> de4lroy, damage or Impalr the Property, allow the Propc�rly to deteriorate, or commit waste on ihP Property. Bortower shall be in
<br /> 1� defauit it any torleiture action or proeeeding, whether civi or criminal. fs begun that in Lender's good laith judgment could resuR
<br /> in torfeiture ot the Property or otherwise ma'erially impair the lien created b�-this Security Ir.stnrment or Lender's security Interest.
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