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<br /> .�� BORROWB�d COVBNAN7'S that Bona�ver is lawfulty seised of the estate hereby couveyed aad has the dght to �:
<br />_.-- _ '.� 8rsnt and coave;t� Pro�rty aad thas tls�Ptoprrty is unencumbered. except for eacumbrnnce.s of record. Borrower '.:
<br /> .. • � v�anants and wUldeYa.RCi generally the Nd�ta th� Proy�xty against all clatms and demanda. subJect ta eny encumbrances ���•,
<br /> af recocd. �� .
<br /> 'M1; .�� THIS SECURITY 1NSTI3UMBNT combia�s u�¢eifmam wvenents for uational use and noa-uniform covenaats with -�
<br /> - limiced variaelons by Juatsdtcsiaa w conscimcc a uedPc+am security instnunent coverin� real pmperty. �
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<br /> ,�'� UNIFORM COVSIYANTS. Borrower aud Lender cava�ant and agree as follows: --_
<br /> .. � ''�� l. Poyioeat o!Pelnc,�i�al, Inttseat saad Ls.".8 t�. Borrower shaU pay when due tbe priacipal of,and interest �:_
<br /> ��� on,the debt evidenced by the Noto aud late char$ts dr,�uader the Note.
<br /> 2. MomWy Paya�ri �f Taxee,Imtu�ra.v�. s�d�O¢��a C6arges. Borrower shall include in each monthly payment, �
<br />_ . 3.� together with the pAia�cIpal and•interest a�set fotti�.in tt(e Note and any late charges.a sum for(a) taxes aad special
<br /> ' ..`!� assessmeats leviad•ar t�be levi¢d agait�st�th� Prop�rty. @) leasehold paymec►w or srouad rents on We Property. and °-
<br /> �.� , ,� (c) premiums fmz fasv�rAO req4��u�ad¢3 pa�ragra� 4. In any year in which the L.ender must pay a mortgage
<br /> �.. ' insurance premium� u►t�a S�re�r of Hors3ing•ar�3�Utban Development ("Secretary"3.or in any year in which s�ich ' _.
<br /> ;:;s�f.;-s� �`� pnmium wo�ld have tocen Qeq�sir�ed.if l.�dt�s. stiEl�h,23d the Securiey Instruntent, each monthly paymout shall also -
<br />: tt:.;�4,�;;''�••� include either: (i)a sum for the anunal moa�a��.I:�surance premium w be paid by I.ender to the Secretary, or (iip a -_
<br /> '''j`�'� maathly charge instead of a mortgagx i�.*�.ue prernium if thle Security Instnunent is held by the Secretary, ia a
<br />',l rF;�,.ril.
<br />>:;�'�`'?°''>t:';,! reasonable amauttt to be a��e��min�d bY ei�E Secretary. Except for the monthly charge by the Secretacy, these items
<br /> ''�:��c=`;.�;� are called "Escraa Items" and t�e sums gaid to Lender are callai "Escxow Funds.° �
<br />�-;4�'''�k,'.•. � Lender may.at any dme, collect and hold amounts for Escrow Items In an a�regate amount not w excsed ttte
<br /> maximum amount that may be requlred for Borrower's escrow axount under the Real Estate Settlement Pmcedures
<br /> __�::;,.���; Act of 1974,12 U.S.C.�2601 et sea.and implemeatiag regulatians, 24 CFR Part 3500,as they may be amended from
<br /> � y'. time to time ("RESPA").except that the cushion or reserve pera�itted by RESPA for uaaaticfpated dls6u�sements or -
<br />�,�:-;,� disbursements before the Borrower's paymeats are avatlable in the accouat iaay not be based on araounts due for the
<br /> ' �;���� a►ortgege iasurance premium.
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<br />'-';„;;_, Ifthe au�ounts held by Lender for Escrow Items exceed the amounte pem�itted to be held by RESPA, Lender ebalt
<br />__�=_�':� accoupt ta Bonower for the excess fliads as m.�►uired by RESPA. If We amouata of ttinds held by L.cnder at aay time
<br /> are aot sufflcteat to pay the F.sc:mw items when due.Leader may noxify the Borrower and re�uire Borrower to make
<br /> --°°""�r.��a up the shOrta$6 as pemiitted by RESPA.
<br /> -��__,;,: The F,scrow FSmds ere pledgea as 2ddldona! securttg for alt sums securect by this Securiry Instntmeat. If Bormwer
<br /> -�"�`�" tenders to I.ender the fWl payment of all such sums,Borrower's account shall be credited wtth the balaaee remaining
<br />�.-.�"��� far alY lnstallnxut items(a).N).end(c)and any mortgage insurancc premium installn�ent that Leader 6as aot become
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<br /> ____.._ . obligated w pay to the Secretazy+, and Lender shall pmmptly refiuid any eac�ess funds to Bomnwer. Immodiately prIor
<br /> --___�� to a foreclosure sale of the Property or its aoquisition by L,ender.Borrower's account shall be credited with any balance
<br /> ---- rea�ing fur all instaUments for items (s). (b).and (a)•
<br /> s _�� 3. Applkaaion of Paymeats. All payments uader peragraphs 1 and 2 shaU be applied by Leader as follows: _
<br /> -- - - PIRS,�. w tha mortgage insurance premium to be paid by Lender w the Secretary or to the zaonthly charge by the
<br /> �_�� Secretary inst�ad of the monthly mortgage insurance preminm:
<br /> --_- SE OjVD� w eny taxes�special ess�a�ts, leasehold paymeats ot grouad rents.and fire.IIood ead other ha�d
<br /> —=� ��ce ���� ���
<br /> �. w.lt�tere�c due under the Note:.
<br /> . FO .w amorti7ation of thB principat of the Note; and , ,.
<br /> ---- � �IFrf . w��ate.,charges due under We Naee. . .
<br /> -- � ----i- 4. Fme�Piaad,aM Otber Hra�d Insaranoe. Borrower shall insuce a11 improveatente on the rc�nperty. whether .
<br /> aow in extstence gr��ubsequeatlY erected� against any hazards. casualties. and contingenaies. �ecluding fire.for which ,�
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