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<br />= BORROWER COVBNANTS that Horrower ie InwtWly seis.d of the estr�te hereby convcyed aad bus the dght to
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<br /> . � grnnt and convey the I�gsrty und that the Pmgerty ia unencumbamd, exccpt for encumbrances of tecord. Barrower
<br /> - warrcun»aad wlil d�f�ud�eueFSslty the titte to the Aroperty agninst eU cleimn und demaada, subject to any encumbrnnces
<br /> of tecord.
<br /> � THIS SECURITY iNSTRUMENT corabfnes uniform cavonanw for nation�l use nnd aan*unlform covenante wtth
<br /> .� � timlted v:ulotiora; by,�urisdlctioa to conedtute a uniform s�ccuurity lnatruraent cavering �eal property. �
<br /> ,;�....;,,�� UNIFORM COVENANTS. Borrower and i.ender coveanut aad agc�c as fQftowa: �-V
<br /> `' ' 1. Paymmt of Princ}�1. Int,�est snd I�te CbarBe• Borrower shaU pay when due the princtps� of,uad interest `"
<br /> ::��k on,the debt evidenced by the Note end late cliargea due uadet the Note. F�
<br />-„'�w�'»'�'� 2. Mcatbly P�,yiaomt afTax�a.I�urauce. agd Other Qiugea. Borrower ahall include ineach monthly paymeat.
<br /> together wtth the prinaipal and iaterest as sst farth in the Note aad any late charges.a susa for(a) ta�ces arcd special
<br /> .: 4 assessraeata levted or to be levied against ths Froperty. (b) leasehald paymeuts or grouad rents on the Prapeny. aud
<br />-;' ',. '� ' (c) Prewiums for insurance t+equired under ParagcaAi� 4. Ia aay year in which the I.eader must pay a mortgage -
<br />-<�'<�'�'``�� inaurance remiwn to the Sec of Houain and Urban Develo ment ("5ecretary").or in anY year in whict►such
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<br />:;�r:;,�r.+�;�tY���.,s prea�ium wauld have been requfred if Lender stlll bsld the Sccudty Inst:ument. each montlilY PaY�t � also
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<br /> •,,,,'�: .•,,;;,;;:�� inciude either: (i) a s�un for the annual mortgega insuurance premiwt► to be pald by Le�er to the Secretary.or( ) a
<br />:}�� ' montLly charge imstead of a mortgage insurance premium if this Securtty lnstniment is held by thQ Secretary. ia a _
<br /> reasonable azuouat to be deteimIned by the Seccetary. Except for the monthly ct�arge by the Secretazy. thrse items
<br /> � .. are called "Escrow Items" and the sua�s paid to Leader are called "F.scrow Fuads."
<br /> � L�endsr may,at any time, coll�ct and hold ataounts for Escrow Itetas in an aggregaie amount aot to exceed the `
<br /> . ���;. . maxiraum emuunt that tnay be requined for Bormwer's escrow account under the Real Estate Seulement Procedures
<br /> � • Act of 1974,12 U.S.C.§2Q01 et seo.and implsmenting regulations. 24 CFR Part 3500,as they may he aa�ended from
<br />. , :,:°� timB to t3me ("R�SP�!°)a except thai the cushIan or cesetve permitted by RESPA for uaanticIpated disbursemeats or
<br /> , dfebuesements before � Bonvwer's payments ars avalieble in the accouat Yaay not be based on a�wunts due for the
<br />�:i;'`.... :: ..� � mort,�a� insurauce p�nium.
<br />;�i•;� ':.�r II��.''v�sAwunts held by Lender �er�sct�N Ieems exceed tlae amounts pennitted to be heId by RESPA. L,ender shalt -
<br /> .. , ,;.";%,,� account tr�Borrower for the excess fimds as cequirzd by RFSPA. If the amounts of funds held by Ixader at aay dme
<br />;�;t�;`.��;rw' are not suffclent to pay the Escrow Items wltae dre.Lender may notify tho �omower aad require Bflrrower to make
<br />_�t}.',�:����� . up the shortage as peimitted by RESPA.
<br />����z��tli,?,.:,c;. The Esemw Funds ane pledged as additional seeurity for aU sums seeured by this Securlty lnstrumeat. If Bormw�
<br /> `'�`�'�,ew�_' tendera w Leader the tuU pay:aens of ail such sums.Borrower's �xount shali be crediced wiih the iraiam� c�i� _
<br /> ��,Yt�s�4y. for all installmeat itgaos Ca?.(b).�<�)�auy raortgage insurauce premlum {as A���++t that Lender tras,not become
<br />�:1r,r::tti�' obligated w pay w tlt�:S�cretary. and Leadsr shall promptly refund any sxcess tlmds w Borrower. ItnmEdiately prtor
<br />=""e=`�"�`�'�- � . to a foreclosnre sale df.th��Ftopetty at its acquisidon by Lender, Borroaer's actouat shaU be credited witt►aay balance
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<br /> �asc�,.?. . . for all iaStaUments for items(a).(b).and (C�• .
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<br /> ::�,;�?`,1»:,,:; ,::,: : . '�� �: �pplk�t of Paymwiq. Alt payn�ents tmder P�S�,P� 1 aad 2 shatl be applied by Lender as folltiare:
<br />°�'-'�•°���'-y�i�`;� . . P�tlT3T,to the mortgage insut�anae precnium to be paid�byLeader to the Sectetaiy ar to the monttily charge byttte
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<br />_ ;,, ,:..,' , . Secretecy instead of ttce monthly mortgage insurauce pr�iuu►;
<br />='`'�, � SECpI�p, to eny taxes�spe�ial assessrr�ents. leasehold payabents or�round rents,and fire.flood aad other hazaid
<br />°�,��1��,,�;5� insurance premiums. as require4; ..
<br /> a...=:���.�¢� T�iTRA. to interest due under the Note:
<br /> — FAiI TH, w amortizadon of the pr�ucIpal of the Note;and _
<br /> i��� �, w late chu8es due uader the Note. _-
<br /> 4. I�re,Flood aod OtLee Hmrd fn�mae. Bonower shall insure ali impravementa on the�copezty. ahether -
<br />__��_--_—_ now in existeace or subsequently erected. a8sinst anY ha�ards. casualaes. ant4 eoatingemcIea. iacluding fn+e.for whir�
<br /> ---``-�$r.''�°� I,eaQer•ci�quires insucaace. This ins�uaace shall be maintaiueG in the amonnts an� Sor the perlods t�at L�aads�
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<br /> -_-:e�a4V�„i'v�t� rc4uires.� Bomower shall also iaswe all improvements on thc Property, whether now.in e�dstence or subscqueipWy��
<br />�-•,,,.��� erected. a8ainst loss by Aoods w the extent required by the Secretary. RU instuaaoe sha11 be c�rried arIth oompaates
<br /> -'�_= , apPmved by Lender. '�e insucance policies and eay renewals shall be held by Lender and shall inciude loss payable
<br /> ���^�,..� ctauses in favor of,and in a foraa aaxptable to.Leader.
<br /> a�_�.v,5 Ia the event of loss.Bomower shaU give Lender immediat$ nottoe by n�a31. Lender may make proof of loss if not
<br /> -°.,..: �*- .�, made promptly by Borrowet. Bach insurance oompany ooaceraed is hemby suthorized and d�c�d to make payme�nt
<br />=i--_- for sach loss dimctly to Leader, instead of w Borrower and to Lender joiatty. All or any part of'the insurancc
<br /> f - P�S �Y�aPP�� 'bY��• �it�opdaa, either (a) to the reduaian of the indebtsdness und�r the Note and
<br /> -"=''=" F tbis SecurIty Instiumeat, '&tst to any delinquent amouats applied in th�order in patagcaph 3�and tleen to PrePaYment
<br />�'`i»�-�:»«.� of principal, oi (b) to the restaraiion or regair of the danaaged Pe�perty. Any applic�tion of the pmceads xo tbe
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<br />�w�;'• ' ' ° P��PaI ahall aot eatead or�oat�vite the due date of the moathly payments whtch are mf+e�red w ia paragraph 2,a�s
<br />,��.:.� '��-� . � cbange the amouat of suc�payr�ents. Any exoess in.4urance pmceeds over an amount required to pay ell outstandiing
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<br /> „"".... ,. . iudebtedness uader tt�e Note and:¢his SecFUity Instrumeat shall be paid to the entity legally eatitiod tber�o.
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<br /> :� . • , Ia the event of fom�closure of ttds Securiry lnsmiment or other tr�msfer of title to the Ptopaty tt�st extingaishes
<br />=T:...' . � the ladebtedness. a11 ri�t, Qitle aad interest of Borrower ia and w insuraace paliciea in foroe stiail pass w the -
<br />� ���•.�- �OoaWao�9. P�v�ation. Mamteaanoe and RoY� of tb�e Prepeciy: Bomawa's Loon Applidion: _
<br />,;,. s':,_1, �-_ I�old=. Bomower shall occupy,establish. aad use the Pcoperty as Borcower's prIucipal resldenee within sixtydays
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<br />- ' ' • after ttce eaocution of tIIis Socurity insuumenc (OT wiIDiII Sixtyaays oi a iaicr ea�c iri a8uacw vi auc raa,�waa» a.n.o+m+.
<br /> . oonnmie to oavpy the Pmperty as Borrower's prIncipal residenoe for at least oae year after the date of occupanay� _
<br />� � ` v: � � unless Lender determines that requIrement will c�use urtdue hardship for Borc�owe�r. or unless extenuating _.
<br /> .� � ' circu�tances exist which are beyoad Borrower's oontrol. Borroaer shall aottfy L�der of anY exteauai�ng -
<br /> a. ' N�AS7CA-EHA Dffi OY�11tUST � _
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<br /> ' , oo�,.�sy�.me.eann asai�u Yage 2 of 6 C l`�r _
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