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<br /> � BORROWER COVEI�TANTS th2t Borrower i�tavrfWly seised of the estate hereby conveyed and has the dght to ` ` :� ,
<br /> � '.h<�:'' gisntaad conveythe Property and�hat the Fmpeity isunenaunh�red, r�cr.�t foreacumbraaces oPrecord. Horrawer � '`; ,;��-_-
<br /> � , � ; wariants aad w,�t defend geaerally[he ade w the Property againsc all ctaims and demands,sub�ec�w aay eacmnbrances _ .
<br /> . . `" � of reoord. .
<br /> . ,' '`` THIS SECURPfY INSTRUMENT combines uaiform ooveuants for aational ase and non-uniform coveaanu with ;, ` .. �
<br /> . .' . � � limited variations by jurisdicaion to constitute a uniform securtcy instrument oovering real DmP�Y• ` .
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<br /> � � UNIFOgiM COVENANTS. Bomoaer aud I.eader covenant aad agee as follows: : . .
<br /> .. � � 1. Paym�+nt of Pri�ipal. IaL� amd 12Le Q�ge. Botrower sh2i1 pay when due the principal of,and interest _..___ __
<br /> _ �.;��--�"`' on,ttlte 6ebt evideaced by the Note and late c3�es due um�er th�Note. '�--�---='-''=
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<br /> -` �•���`?y � 2. A�hiY paym�t of Taa�s.Iasvr�e. aa�Othrr �rges- Borrower shall include in eacb monttilY PaY��• 'r ., ..
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<br /> . wgether with the principal aad intecest as set farth ia t�e Note and any late charges. a sum far fa) taxes and special i .::. :�.`',,,... '.:
<br /> �` • � •{ assessments tevied or w be leviad agaiasc the Pmperty, N)lease3iald paymeuts or graund rents on the Pmpaty,aad :�� ..�;.,:._'..�' � .
<br /> - . � , '-- � (c) Preminms for i�uaace required under paragrapb 4. in anyr yesr in wh�ch the l.eader must pay a moagage -• ,. `. �..
<br /> ; ins►uaace premium to the Sacretary of Housiag and Uiban Develap�t ("Se�etary"),or in aay ye�m which s� v�,.����:=.,
<br /> t. pr�naium would have been required if I.ead� still i�eld the Seauity �as�t, eacu montWY Payu�t s�a1� �1S° ,_
<br /> . . �-�; �.�eitfler. (i)a�sum for tfle annual utflrtgage irts� premium to be paid by I.eader to the SeQet�y.as(ii)a T�.s..�.--
<br /> . ". rs�I>y ci�arge instead of a mortgage insivance pr� if this Security I�t is he2d by the �, in a ' ;�
<br /> - � r�a�le aaa�t w be determined 6p�r Se�eta�Y• �CCePt for die monthly c�azge by the S�r�acy, t�.°it�s : ►� ,..�:,
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<br /> �Y'8�� ��67"c�'"�+?;�iS° AIIt2 t�S�S�11�1 ikBd�',�.'2 C811�."ESCIOW FrilI�S.° ,.,,. < `' _
<br /> �:ti;�`zi� t`�_�,� :. } )Ls-U�#•III2�i?��F+'� •; 8IISfl11II2 IIOL t#1`�Tf3�t�16
<br /> ���3ect and hold amnunts �Escrow Iteu� in an aggnegate ;.
<br /> ` ` ;, �'�r��'�=ecNired for Bomnwer's escrow accaunt under the Reai Fstate 5eulem�at �
<br /> v ������� ��`'��iu.t�ax:.c�i`�°�'�'�f��.§Z601�et sea.aad implem�ting regnlatiuns, 24 CFR Fart 3500,asth 8eamead�3 f�m `� _-==
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<br /> ' ' _ �`• �,���;��A"?.except that th�cs�an or reseive pe[aiittei �RFSPA for w�andcipv�.;�sbnise�nents or _
<br /> . . �:�a ° ...`�'��
<br /> : . . ��qqza.-men�.s.�fore the Borcower's pay�a�are available in tSe�f,mt may nat be based c;�..�ts due for.ths ���.
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<br /> _ - � r��r^�s$e insuiance premium. . ;;:'� , .�` . . � =.
<br /> ' ..`::�.�she aatouats hetd by l.endter for Fscca�x tiems exoer�:ps amo�nts�Permiued to 6e held by ItESPA. I.eu3f��tall. .�`, �sj
<br /> .• .en
<br /> � as�sivat w Bairower far the excess funds•��luiie3 x'r�A. If the amouats of funds he2d�+��der a��uQte .,P - _
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<br /> - are uot suffici�t�to pay the Escrnw Ite�s m,�'...t�s�:�3�may notify the Bomuwer and r��amnwei to make . . m��`_.�.
<br /> • ,Y� , up the sflo�:�as permiue3 by R�SP4�: .: '•'` . . . - -
<br /> �. ;. � ..,:�}�`se Fscmw Funds are ples�ed as a�P,r���s�'t i�r all s�s,setumd by this Secicrrity� f,€;L314tower r. < •�,�--
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<br /> tCQdCiS t0 LeIIdCI ihe fllll'p8}�AR�itt Of 811 SSl��SUII14.irlu,�'�7wC�S BCCOUIIt Sh311 62 ClCdit�d'tPiLtt�,4�1,`',��', :.�$ r '' -
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<br /> J . for aU iastallm�r,:items(a),(b),and(c)aatl au�murtgaSe msatance premium installmeat tbat'�im��'a't�s�'tfiecame J •.
<br /> ' > � obligazed w�tm:the Secretary,and I.ea�sha11 PmmptlY r e f i md aay eace�s f i m�s to Boiro�rar::�n m e d i�e l Y P r t a�r � t
<br /> - ` �`��:'" t o a foreclos�,•'s�:�e of the Pro p e r t y or its�;aay�^uisitIon by I.ender. Borrower's accouat shall be��3 with anY balaace
<br /> <, .: . ..<:.: , �snaipin& for aU install �+tR for iteu�s (al�,.�'S).aad(a)• ..�;.. • . ; ti:; —
<br /> ', �.: ppgHption of Papments: AU payr�eats uada paragraphs 1 aad 2 shall be applied by3uecder as follows. �
<br />, ----- �tSi',to the mortgage iasutance g� w be paid by i,ender w the Secretary or w the ntontlily chsr�e bY the � `
<br /> : . �'i s
<br /> � . Secretary instead of the m�nthly a��r�� insuiaase pratdum: ': .,�_
<br /> • � S O to any ta�ces.sPecia��, Iea5eho2d payments or grouad renss,and 6re,tir��and o t h�h a 7 a r d �=
<br /> Insatance ptemium4. as reqvi�edt '�� '_ , . ."�;`-
<br /> -. -`� :�,p. THIRD. to interest due.�'Ser the ��'t'�ti.","' �. . ;,�'�.�'•�
<br /> - ' -; FOURTH. to amarti7atioa of the grq��t� of the� Note; and ',: � - : _ °
<br /> ' `:s .i ��tu$ate charges due under tTi��3�'i� � � : �: , ' . •`.
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<br /> . _ � , '°"-. 4_ Ffce..�tec+�{and OQ� Rar�+d �. Borrower strall ins�ue all impmvements va t3np'L?topect�;;a�f�.� ` ' ,
<br /> � :. � i� aow in existet�r�d'r sabseqaently ecestsd,':,�sa�t aaY ha7ards, casuaities. and cuntingencies, �u1J�.fr��'qr.at�� � � i °r =-
<br /> 1 I� re4uires insvrance. Tbis insivance..��.,�all bs r�mtained ia the smo�mts and foT tfr�,�'�t: �nder �
<br /> � " ,+ �` ! req�ires. Borrower shaU also insure aU ia�rov�,,c�tt�e Property. whether now in eu:ia��'r.�r �l�ently. . .. �_
<br /> . - " .,•� ';:• erected. against ioss b y t lo o d s to t he e x a e�t���a���t i}t$e S e c r e t a ry. A l l i a s�u a n ce s h a U b e c�r3`�witb`o c�i Panies ; _
<br />- � :: `;, approved by Leader. 'Ihe insuraace poliafas,;�ul a�4y�� sha11 be held by Lender and stTai�'s;l�:inde loss payable ..�`:��_
<br />- .. . clauses in favar of,and ia a form accept�i�:���U9.l.euder. ` � '.�. .
<br />- -. . In the event of loss.Bom4wes shaU give I.ender igu�,ediate nodce by mail. Lender may make prnof of loss if not ; •,. ��,
<br /> . . . made pmmptly by Bdmower��ach insurance oompauy d;r�aceraed is hereby antharized aa�di�cted co make�aayment �_,�:.t�°�f:,. �.
<br /> ° ' ;:' ' . fos such Ioss�direcdy w I�tader. fnstead of w Borrower aqd to Lendec jointly. All or any part of ttse.iesurance : ,r•. . .<
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<br /> .� '`` ". p r ncee8s a�Y�a P P1�ed by LRader, at its optton. either (a)ta the redaction of the indebtedness � ihe Note�d . .
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<br /> _i � : ..,o-.� . ti�is gecurig,:irats��, first to any delinquent araounta a�plied ln the order in yaragrap b 3.a n d t heu to PrePa Y�� �� . -
<br /> , ;�'.. tl�is
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<br /> = - ,� ef gt�ncipai. or.{6) w the reswration or repair of the darnaged Pmpem+• AnY aPPlication of the p�r.eeds to the ..
<br /> � - . ,.'; � :; �.�al shall not extend or postQone the due date of the tnontiily payraeats whicb a�e refemed w in parag�aph 2.or . ; ..
<br /> �� ��° ,� � t:, : ch�age the am�unt of such paymeuts. Aay eacess ins�rauce pmcads over�amnuat required w pay all wtatanding
<br />_ - � iadebtodaoss under the Note aad rlris.Sca�.•sity tasuua�em shall be paid to the entiry IegaUy ea�ed thento.
<br />_ . . �'�:,i �� ta the event af fore,c2os�ue of tlris:secsirity Iastrum�t or other transfer of dde to the Prapezty that extinguishes �
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<br /> .. .: . ��.;. tLe la�ebtedness. aU rig,h� atle aud�interest of Bomuwer ia and to Ias�raIIce policies.in fo�e shall gasa to the ..
<br /> _ .` ''• ' purcbaser. .
<br /> _ �. S. Oo�►. Pc�v�tm. �t�e �sf Ptofec�ian of � �[opetiy: Bonawa's l�a l�pglis�ion;
<br /> _ " .: �� � I�o2lt�. Borra�ver shaU oavpy.establlsb.and ase the Property as Borrawer's principal cesideuce arithin si�nydaps _ ,
<br /> after ttte exec.�utIon of this Securlty lnstru�ttt (or witLin sury days oi a later sa2e or ttansfer o!the Pcoperty) aad shall ' .
<br /> . : p, oondmie to oaupy[he Pmyerty av Barmwer's priasipa} residence for at leasi one year after the date of oocupaney. : , -
<br /> � � natess I.eader deter�miaes that ceq�inemem wiU cause uudue hardghip far Hrnmwer, or unlegs exteauatiag ,
<br /> - � � ciraunstaaces exist whic� �e beyoad Bmmwer's control. Borrower shaU notify Ixnder of any eutemuating . '
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<br />_. ' . � �.i aa.�s�.ns.m�w bwixa Page 2 of 6 .
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