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<br /> ' �� '� • TOQETHER WITH all the Improvements now or hereatter ereated on the properry, and all eusements, eppurtenances, and ---
<br /> � flxlures now or here�fter� part o1 the propaly. 1!!I replecements and idditlona shell also be covered by this Secudty Instrument. __-
<br /> NI of lhe forepolnq Is roferred to In ihta Secudry Inetrument sa the "Property.' �y
<br /> BQRROYVER COVENANTB that Bortower Ia law(ully aelzed of the estele hereby conveyed and has the dght to grant and �s
<br /> convey the PropeRy and that the Properry Is unencumbered. except lor encumbrances of record. Bortower wamnts and wiA � ..
<br /> deiend generally the tille to the Property agelnst ail clalms and demando, sub�ect to any encumbrences ot record.
<br /> THI9 SECURITY INSTRUMEN7 combines unllorm covenants lor �etlonal uee and non•unllorm covenanta with Ilmited
<br /> varlatlona by Judsdiction to conatitute a unitorm aeeudry{natrument coverinp reai properly.
<br /> UNIFORM COVENANTS. Bortowor and Lmder covenant end aqree aa toliows:
<br /> 1. P�yment of Prinelpd �nd Int�r�st; Pr�psym�nt�nd l.�t� Ch�rg�s. Bortower ehall promptiy pey when
<br /> . y� due the �inclpal 01�nd Interest on the debt evldenced by the Note �nd any prepayment end lete cherges due under the Nota.
<br /> � 2. �unds for T�x�a and Insurance.SubJect to epplleable law or to a wrttten waNer by Lender, Borrowe►ahell pay .;
<br /> " to Lender on lho day manthly pnyments aro due under the Note. un11 the Note Is pald In full,a sum ('Funds') for: (a) yeariy
<br />''�!'�7�� texes rnd wsseasmenta whlch msy attaln pdodty over this 3ecurity Inst►ument as a Ilen on the Properry: (b) yea►ty leasehold y �_--
<br /> e< :
<br /> p�yments or ground rente on the Properry, fl any, (a) yeartyr hazard or properly insurence premlums; (d) yearlyr Ilood Insurenco 1 4�
<br /> , , pramlum�,Ii any; (e)yeerly mortpage Ineurence premlums, If any;and(� any sums payablo by Bortower to Lender In accordence
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<br /> - � '�� with the provlsiona o1 paixgraph 8, in Ileu of the payment of mortgege Insurnnce premlums. Thase Items are called "Escrow �
<br /> � Items.' Lender mey, at nny time, collect end hold Funds in en amount not to exoeed the maxlmum amount a lender tor a � _
<br /> tedaelly related mortgage loan may requlre for Bortower's eserow account under the federnl Real Eotate Serilement Procedures O
<br /> � Act of 1874 ea amended irom time to time, 12 U�.C.@ 2801 et seq.�'RESPA"), untess enother law that applies to the Funds OQ
<br /> �.... aets a lesser emount. Ii ao, Lender may, at any tlme, collect and hold Funds in an amount not to exceed the lessa amount. � -
<br /> :�.��..� Lender may estimate the amount of Funds due on the basis of curtent deta and reasoneble eslimeteu of expenditures of tuture
<br /> ° ' • Escmw Itema ar othenvlse In accordance wfth appNcable law. a "
<br /> .� � Tho Funds shall b�held In an institution whose deposita are i�sured by a federal agency.Instrumentaliry,or entity(including T��,
<br /> Lenda, It Lender!s such an Instftutlon) or In any Federe� Home Loen Bank. Lender shall apply the Funds to pny the Escrow
<br /> Y ` Items. Lender may not charqe Borrower for holding and applying the Funds, annually anayzing the esctow account, or vertMeg
<br /> `~ �,'"k iha Eacrow items, unlesa Lender paya Bortower intaest on the Funds end appliable law pem�its Lender to make auoh e
<br /> �t"f`+�' aherge. However, Lender mey require Bortower to pay a ono-Ume charge for nn Independent real estate tax reporting service i
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<br />=1'f`�'� •�• used by Lender In connectlon wfth thia loan, unlesa appiicable liw provides otherwise. Untess an agreemenl is made or
<br /> �,: ����, appNcable law roqukes Interest to be peid, Lender ahail not be requtred to pay BoROwer any interest or esmings on the Fanda.
<br /> , ; a Bortower and Lender may egree In writing, however, that Interest shall be pald on the Funds. Lender shell yive to Bortower,
<br /> :• ,�� without charge, an annual accounting of the Funds, showing credits and debfts to the Funda and the purpose for which each
<br /> �`f.��°?' debft to the Funds waa made. The Funda ue pledged as addfGonei eecurfry for all sums secured by the 3ecurflyr Instrument.
<br /> ''�' ••/ • If the Funds held by Lender exceed the amounts pertnitted to be held by applicable law,Lender shell account to Borrower
<br /> :�!,r�,," � tor the exceas Funda In accordance with the mqulrements ot eppflcabla law. If the amount ot the Funda held by Lender nt any
<br />- • time Is not aufflcient to pay the Escrow Items when due, Lender may so notity Borrower In writtng,and,in such cese Bortower
<br />�`"�='r"' sh+�ll pey to Lender the amount necessary to make up the deflciency. Borrower shall mnke up the deflctency in no more than
<br />-- "••�r.-> tweive monthy payments, et Lender's sole discretion.
<br />"'���`'� ' Upon payment In tull of all sums seeured by this Securiiy InsWment,Lender ahali promptly retund to Borrower nny Funda
<br /> ��� held by Lender. Ii,under peragraph 21, Lender ahall acquire or se�ihe Property. Lender, priar to the acqulslGon or sdle o}the
<br />�,��,�•�l•� .
<br />_-- Property,shall apply any Funds held by Lender at the time of acqulsftion or sale as a uedtt Agelnst the sums secured by thls
<br /> '_;���� secu�ity instrummt.
<br /> �:�,.s� 3. AppliC�tlon of Paymsnts. Unless appifcable law prov(des otherwisa, aN payments received by Lender under
<br /> - �"�'�'� parngraphs 1 and 2 ahali be epplied: ftrst,to any prepayment charges due under the Note;second, to amounts payable under
<br /> �� paregroph 2;third,to intereat due;fourth, to principai due;and last,to eny late charges due under the Note.
<br /> --=___�� 4. Cha�gYS; Llotts. BoROwer shell pay nll taxes, assessments, charges, flnes and ImposRions ettributable to tha
<br /> �ti.-��...� Property whlch mny attain prlority over this Securily Instrument, and leasehotd pnyments o� ground renls, M any. Bortowet shell
<br /> -�--°-- pay these obYpetions In the manner provided fi paragrepN 2, or if not paid in that mnnner,Bortower shaY pay them on time
<br /> °�"'— directly to the person owed paymen� Borrower shall promptly fumish to Lender all noUcea oi amounts to be paid under thls
<br /> = -- peregraph. it Bortower makes these paymmts directiy, Bortower ahali prompUy tumiah to Lender receipts evidenc(ng the
<br /> _---�= payments.
<br /> ---^��= Borrower shad promptty discharge any tlen which has pdorfty over thla Securily Instrument uniesa Bortower: (a)agrees in
<br /> --- w►Idng to the payment of the obllgaUon eecured by the Ilen in s mnnntr ncceptnbte to Lender, (b) conteste In good taflh the
<br /> — Ilen by,or detends againat eniorcement of the Ilen in, legal proceedings whlch in tha Lender's opinlon operato to prevent the
<br /> eniorcement of the Hen; or(o) secures from the holder of the Ilen an agreement eaUsiactory to Lender subordin�Ung the Ilen to
<br /> this Security Instrument. Ii Lender determ(nea thet eny pnrt of the Property is subJect to a Ilen which may atttln prio►tly over this
<br /> Securily Instrummt, Lender may give Bortower a noUce Identitying the lien.8onower ah�N aatisty the Ilen or take one or more oi
<br /> _ the actions set torlh above wfthin 10 days o}the glving of notice.
<br /> � 5. Hmrd or P►operty (nauranCr.Borrower ahell keep the Improvements now ox(sting or hereatter e►ected on the
<br /> °— Property fnaured �gainst loss by flro, hezards Included wRhtn the term 'eMended coverage' and any other hazarda, tncluding
<br /> -- "'""— tloods or flooding,tot which Lmder raquires Insurance. This Insutuice shall be mnlntNned In tha amounte and for tho petiods
<br />_�--=r-�- thet l.ender requke�. The ineurance cairtler providing the insurance shall be choaen by Borrower subJect to Lender'e approval
<br /> �� which shall not be unreasonnby wfthheld. If Borrower teiis to maintaln coverage described above, Lender may, at Lender's
<br /> optton,obtsln coverege to protect Lender's rtghts In the Property In eccordance wfth paragreph 7.
<br /> ..s������� Aa Insurence policlea and renewels shall be aceeptable to Lender and she0 InGude a standard mortgage ckuse. Lende►
<br /> n:" shaH hnve the �Ight to hold the policles and renewals, Ii Lender requlres, Bortower shell prompUy give to Lender aY recetpte oi
<br /> ���� paid promiuma snd renewel noUces. In the ovent of loss, Bortower shall give prompt notice to the ineurance cartfer and Lender.
<br /> -- _---- Lender may rtwke proot of losa R not made prompty by Bortower.
<br /> " _ ���"`� Unless Lender and Borrower othervvl�e agree fn writing, Insurence proceeds ahall be applied to restoreUon or repair of the
<br /> �,-i�� propmt�r damaged,If the restoratlon or repefr is economically teaslMe and Lender's secudty is not lessened. Ii the restorallon or
<br />_ " "� ` repair la not economically teasible or Lender's security would be lessened,the Insurance proceeds shell be eppBed to tho sums
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<br /> •.•�=�,�, aecured by thls Securfty Instniment, whether or nat then due, wNh any excess paid to Borrower. If Bortower abendons the
<br /> - Property, or does not snswer within 30 days a notice irom Lender that the Inau►ance caRier has ottered to aerile a claim, the�
<br />- .' ' Lender may collect the inaurance proceeds. Lender may use the proceeds to repalr or restore the Properly or to pay sums
<br /> ' secured by this Seeurily instrument,whethet or not then due. The 30-day period wiY begin when the notice is given.
<br />' � •�; Unless Lender nnd Borrower otherwise egree In writing, any appdcation of praceeds to prtnclpal ahall nol extend or
<br /> postpone the due date oi the monthly payments referred to in parngraphs 1 and 2 or change the amount of the paymmts. It
<br /> �� under paragraph 21 the Properly is acqulred by Lender, Bortowera right to any Insurence policles and proceeds resulting hom
<br />' . 1�� demage to the Property prtor to the acquleftlon ahell pass to Lender to the extent ot the sums by this Security Inswmecit
<br /> ,,,�"� J' immedlatery prfor to the acquisflion.
<br /> - � " 8. Occupancy� Preservation, Maintenance and Protection of the Property; Borrower's Loan
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<br /> •!••� ennlleatinn: Laaseholds. Borcower shall occupy, esteblish,md use the Properly as BoROwei s principal residence within
<br /> , _ _�_s___�a.-� -r� .
<br />_, .t• slxty days etter the execution ot this Security Instrument end shell contlnue to occupy the PropeAy as Borcower's pnnapa�
<br /> � residence for at least one year atter the date o1 occupancy,unless Lender othervvise agrees In writing,whlch consent shall not
<br /> be unreasonaby withheld.or unless extenuating circumstances exlst whlch ere beyond Bortower's control. Bortower shall not
<br /> destroy, damago or Impalr the PropeAy. anow the Property to deterbrate,or commk waste on the PropeHy. 8orcower�ha�l be In
<br />� � detault it any fotiefture actfon or proceeding, whethar civll or c�fminal, Is begun that in Lender's good laith Judgment could result
<br /> � In fortelture of the Properry or othenvise materlalN Impalr the Nen c�eated by this Secu�ity�nstrument or Lender's secudty Interest.
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