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<br /> � � TOGETHER YVITH el ths knprovementa now or hereatter erected an the prnpeRy. +�nd �Y xasemail�. �ppwtenNnca�, and
<br /> � tixtu►es now or hereafter a ptA ot the properly.AI� replucements and additiona shall also be coverad by Ihle 9ecurity Inetrumant.
<br /> AIf of the lorefloing Is referred to In th!s Security Instrument as tha'Property.'
<br /> BORROYVER COVENAN'�S lhet Bortower Is lawfully s�ized o1 the estate hereby convoyed and hae the riqht to pr�nt Mnd
<br /> convey lhe Properry and that the Propeity is unencumbered, oxcept tor encumbrances ot record. Elorrowar wnrrenta end wlll
<br /> detend generally the tftle to the PropeRy sgalnst ell cialms and demands,subJoct to any encumbrenccs ot record.
<br /> 7HIS SECIIAITY INSTRUMENT combines unitorm covenants for natlonal use end non•unllorm covensnts with Ilmllad
<br /> varfatlons by Jurisdlctlon to constitute a unitorm security Instrument covedng real propeRy.
<br /> UNIFORM COVENANTS. Bortowar and I.ender covenant and agree es toltows: �
<br /> 1. Paymsnt of Pri�aipal�nd Intsr�at; Pnpayment and L�ts Chargss.Borrower shall promptty pay whe� �
<br /> due the princlpal of nnd�nterest on ihe debt evidenced by the Note end any prepnyment end late charges due under the Note.
<br /> 2. Funds far 7�xs3 �nd 1118uYanCe.SubJeG to appllcatolo law or to a written wnhror by l.ende►. Borrower shall pay � �
<br /> to Lender on the daiy monthy payments are due under the Note,untll the Note is paid In full, a sum ('Funda') tor: (a) yearly
<br /> taxes end essesaments wh!ch may atta(n prloriry over thls Secudry Inshument as a ilen on the Property: (6) yearry leasehold Q
<br /> payments or ground renis on the Property, If any: (a) yearly hazerd or property insurance premiums: (d)yearly Oood Insurance
<br /> premiums.It any;(o) yeady mortgage insuranco premiums,if eny; and (n any sums payable by Borrowes to Lender In accordence �
<br /> wilh the provislona o1 peragraph 8,in Iieu of the payment ot mortgage insuranee premlums. 7heso ilems are called 'Escrow �
<br /> Items." Londer may, at any time,collect and hold Funds In an amount not to exceed the maximum amount a lender tor a
<br /> tederaliy related mortgage loan may requlre for Borrower's escrow account under the ted�rsl R�ai Es4atd Setilement Procedures
<br /> Act of 1874 as smended from time ta time, 12 U.3,C.�2601 et seq. ('RESPA'), unless �szo?her !aw thnt applies to the Funds
<br /> sets a lesser amount. II so.Lender may, at any ttme, collect and hold Funds In an emaunt not lo exceed the lesser emount.
<br /> Lender may ostimate ihe amount ol Funds due on tha basis of cuRent date and reasonable estimntes of expend(tures ot future
<br /> Escrow Items or otherwise !n eccordance with applictsble law.
<br /> The Funds ahall be held fn an Institutlon whose deposita are Insured by a tederal egency.Instrumentality,or entity(I�cluding
<br /> Lender, it Lender is such an Institutlon� or In any Federel Home Loan Bank. Lender sha11 appiy the Funds to pay the Escrow
<br /> Items. Lender may not charge Bortower for holding and applying the Funds. annually snalTcing the escrow account, or verilying
<br /> iha Escrow Ite�ns, unless Lender paya Borto�ver interest on /he Funds and epplicablo iaw pem�its Lender to mnke such a
<br /> charge. However, Lender may requlre BoROwer to pay a one-time charge tor an (ndependent real estato tax reporting servlce
<br /> used by Lender In connection wrih thls loan, unless appllca6le law providea otherwlse. Unless an agreement Is made or
<br /> appllcablo law requlres Interest to br�paid. Londer shall not be requlred to pay Borrower any Interest or eamings on the Funds.
<br /> BoROwer end Lender may agree iz +;e-:tw�, howsver, lhat i�'.A:est shall be pald on the �Funds. Lender shall give to @orrower,
<br /> wKhout charge, an annual acco►�niing of the Funds, showin?x:�dfts and debita to the Funds and the purpose tor whiah each
<br /> debit to the Funds was made. The Funds a:e G�ledged as add'riianal securiry tor all sums secured by the Security Instrument.
<br /> If the Funds held by lender exceed tho Fimaunts pertnmed to be held by applicable law. Lender shall account to BoROwer
<br /> tor the excess Funds In accordanco with tha r�quirements of applicable law. I}tho amount af the Funds held by Lender et any
<br /> time is not sufflclent to pay the Eecrow Items when due, 4mder may so notity BoROwer in writing,a�c6 in such case Borrower
<br /> sheA pay to Lender the amount necessary to mek9 up the deilclency. Borrower shall mnke up ihe deOciEncy in no more than
<br /> � :,�dve monthy peyments, at lertders soie diacretion.
<br /> Upon paym►nt in NII oi aN sums secured by this Security Instrument,Lender shap prampUy retund to 9orrower any funds
<br /> ti�r1 hy I onder. It. under pereareah 21, Lender shall ecquire or sell the Property, lender, pdor to the acqufslHon or sale of the
<br /> �operty, sheB epply eny Funds hdd by Lender at the tkne o4 acquisiUan or sale as e credit againui ine sums nvi:�iiefi uy:t��s
<br /> Securiry Instrument.
<br /> 3. Applicatlqn of Psyments. Unless appNcable IAw provides otherwiso, aii payments received by Lender under
<br /> paraptaphs 1 and 2 shell be�ppNed: first,to nny prepeyment charges due unde►the Nota;aecond, to amounts payabte undet
<br /> p�ragraph 2;thkd,to Interest due;tourth,to principal due: end last,to any late charges due under the Note,
<br /> 4. CharQ�s; LI�11s. Bortower shalt pay all tuces, esseusments, chargea, flnes and Impositlons attributable to the
<br /> Property whlah tn�y �tpk+ priortty over thla Sauriry Instrument, and leasehoid psyments or ground rents, lf any. 8ortower ah�U
<br /> p�y these obWp�tiona In the manner provided In p�ngraph 2, or H not peld In that manner. Borcower shaq pay them on time
<br /> dkectly to the psraon owed payment. Bortower shall promptty fumish to Lender all notices ot amounts to be paid under thia
<br /> para9raph. If BoROwer rtukes these p�ymenis directly, Borrowe� shell prcmptly fumlah to Lmder recolpts evldencinp ths
<br /> P+�Y^�ants.
<br /> Borrower oh�q prompty dischtrge any Wen whtch hss prlority over thls Secur(ty Instrummt unlesa Bonower. (e) agreea In
<br /> wrNinp to tho payment o1 the obYqatlon secured by tNe Ilen in n manner accepteble to Lender: (bj contests in good iakh ths
<br /> Ben by, or detends �p�inst entorcemmt of the Nen In, legd proaeedN►gs which In the Lander's opinbn operata to prevent the
<br /> entorcement of the Nen; or(c) secm�es hom the holder o1 the Ben an agreemmt eatisfactory to Lmder subordfn�ting the Ren to
<br /> this Securily Instrument. If Lender determines thet any part of the Property Is subJect to a Iien wl�ich may attain pdority over this
<br /> , 5ecurity Instrument, lender may give BoROwer s notice Idmtitying the ilen.Borrower shell seUsiy the Iien or teke one or moro of
<br /> the actlon�aet torth�6ove wkhin 10 d�ys of the gNing of noUce.
<br /> 5. H�zard or Prop�rty In�uranc�. Borrower shaN keep the Improvemento �ow extsting or hereafter ereeted on tho
<br /> Property Insured sgainst loss by fire, hazards fncluded wilhin tho term 'extended coverage' end any other hazards, including
<br /> 1loads or iboding, for which Lender requires insurance. Thls Insurnnce shnR be maMtained In the amounts and tor the periods
<br /> that Lender requltes. The insuronce cartier providing the hsurence shaM ba chosen b� Borrower subJect to Lender's�pproval
<br /> which ahsY not be unreasonaby wfthheld. If Borrower tails to mainteln coverege deseribed ebove, Lender may, nt Lender's
<br /> optlon,obtain coverage tu protect Lender's rie�hts In the Properly in accordance with peragreph 7.
<br /> All Insurance poYcles �nd renewais shaH be aecepteible to Lender and ahall indude a standard mortgage clause. Lender
<br /> sheN have the rfght to hoid the policles and renewais. If Lender requires. Bortower sheli prompty give to Lender all receipts oi
<br /> pald premlums and renewal notices. In the event of loss.Bortower shali ghre prompt noUce to the insurance cartier and Lender.
<br /> Lender may meke proof of loss H not made prompty by Borrower.
<br /> Uniess Lender end Borrower otherwise agree fn writing, insurance proceeds shaN be eppNed to restoration or repair ot tha
<br /> properly damaged. H the restoreUon or repalr Is economicelly teasible and Lender's security Is not lessmed. fl the restaration or
<br /> repak Is not economlcally feasible or Lenders security would be lessened,the Insurance proceeds shafl be epplied to lhe sums
<br /> secured by this Security Instrument, whether or not then due. with any excess paid to BoROwer. It Borrower abandons tho
<br /> Property, or does not a�swer within 30 days e notice irom Lender that the Inswanca wrtler has oHered to settle e clalm, then
<br /> Lender mey collect the Insuranco proceeds. Lender may use the proceeds to repatr or restore the Property or to pay sums
<br /> - secured by this Security Instrumenl, whether or not then due. Tho 30•day perlod wfll begin when the notice is given.
<br /> Unless Lender and Borrower otherwise agree In writtng, any applicatlon of proceeds to princlpal shall not extend or
<br /> postpone the due date of the monthly payments reterred to In paragraphs 1 and 2 or chango ihe amount ot the payrtnents. I}
<br /> - under paregraph 21 ihe Property Is acqulred by Lender, Bortower s right to eny Insurance polides and proceeds resulting hom
<br /> damage to the Property prior to the acqulsition shall pass to Lender to the extent of the sums by thls Security Instrument
<br /> - Immediately p�ior to the acqufsftion.
<br /> -- s �__..��..... D���...dt..w L�inlann�ro antl DMnfae!fi��1 of the Pronertv: Borrower�3 Loan
<br /> v. wv�.p���v�� . o. ��....... ..
<br /> - Applieation; Leassholds.Bortower shaA occupy, establish, and use the Property as Bcrtower's princlpal residence withln
<br /> - sixly days afler the execution of this Security Instrument and shell continue to occupy the Property as Borrower's principal
<br /> residence for at least one year efter the date of occupancy, unless Lender otherv�rise egrees in writing, which consent shali not
<br /> - be unreasonabty withheld,or unless extenuating dreumstences exist whlch are beyond Borrower's control. Bortower shull not
<br />_= destroy, damage or Impair the Property, allow the Property to deleriorate,or commit wastc on the Property. BoROwer shall be in
<br /> -� default If any lorteiture acUon or proceeding, whether civ9 or cdminnl, Is begun that in Lender's good laith Judgment could result
<br />— In(odeifure of the Property or otherwise matedally impafr the Ilen created by this Security Instrument or Lender's security interest.
<br />,� Pa n 2 af 5 �.�
<br />���°+� F1316.LM6111971 9
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<br /> � 971J8
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