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<br /> .� BORROWBR COVENANTS that Borrower is lawfl►llyselsed of the estate hereby eyed aic es e t to
<br /> . � grant end convey the Propetty and that the Properry is uaencumhered, except for eacumbrances of r�ord. �orrower
<br /> o warrants and will defend generally the t[tle to the Prop�rty agefast all clalms and demaads. aubject to aay eacumbrences
<br /> of record.
<br /> � " THIS SECURITY lNSTRUMENT combines unifoan covenants for nntianal use aud noa-uniform covenc�nts with
<br /> � • s timited variationa by jurisdiction to constitute a uaiform securtty lasuumeat covering real property. �
<br /> . �
<br /> UNIFORM COVENANTS. Borrower and Leader covenaat and agree as foUows: �
<br /> ra,��� —_
<br /> �._- 1. Paymant of Pttncip�l. Intrnu and 1�te Dui$e. Bocrower shall pay whea due the prIucipal of.aad interest
<br /> .��� on�the debt evidenced by the Note aad late c�arges due uadcr the Note.
<br /> 2. MontWy Payment oY Tues.l�um�x, and 011�a (�u'Sa. $orrower sheU include in each monttily puyment.
<br /> :� , together with the prtncipal and tntereat as set forth ia the Nate and any late charges,a sum for(a) taxes and egectel _
<br /> �'� assessmcnts levied or to be levied ag�inst the Propercy,(b)leasehold paymeats or ground reats on the Pro�ssecty. and —.
<br /> �- (c) premiums for insurance required under paragaisb 4. Ia aay ye.�r ia whlch the Lender must pay a�eortgage R
<br /> � insucance premiwn to the Secretary of Housing and Utban Develupraeat ("Secretary').or in eny year ia whlch sueh
<br /> premium would have been required if Leader stiU held the Secudty Insuvment, each monUilY P$Y�t sl�aU also
<br /> ' � include either: (i)a swn for th6 annual mortgage iasuraace premium to be paid by Lender to the 5ecretary. ar(ii)a
<br /> - _ �. monttily charge instead of a mortgage lnsurance prerniva►if thie Securlty Insu�nt is held by the Secretary. 1n a
<br /> - � : reasonable amowu to be deterudned by th6 Secretary. Except for the monthly chsarge by the Secretety. these items _.
<br /> .- are called "Escrow Items" and the sams paid u► Lender mse called "Escrow Fuade."
<br /> �,endel aquy.at aay nme. coll�ct aad hold amouats for Escrow Itema in an aggregate amount iwt to ea�ceod the -
<br /> � meximum amount that may be requlred for Borrower's escrow account under the Real Estete Settlement Pracedures
<br /> • Act of 1974,12 U.S.C.§2601 et sea.and impleYnentiag regulations. 24 CFR Part 3500,as they may be ameaded fmm Y
<br />- -� ,;" time w tim$ ("RESPA").excePt that the cushion or reserve permitted by RESPA for unandclpated disbursemeats or
<br /> disburseraents befare the Borrower's payments are available In the account may not be based on amouats due for the
<br />::�:.:fi.:� �. mortgage insurance premium.
<br /> . .. `'. If the amounts held by Lender for Lsaow Items eaceed the araounts permitted to be held by RESPA, I.ectder she11
<br /> account to 8orrower for the excess t�ads as required by RFSPA. If the aznounte of fUnda held by L,ender at eny t�rae
<br /> ;�"'"'�':." � ere aot sufficient to pay the Esctow Item4 when due, I.eader may notify the Bomower and require Harrower w make
<br /> --. :.�`� up the shortage as pemiitted by RESPA. -
<br /> - ±��� The Fscrow Funds ai+e Pledged av addit€onal security for all sums secuted bytLis Secur[cy Insuumeat. If Bomower
<br /> '� "�""x tenders w Lender the fuU paymeat of aU such soms. Borrower's account snati be csedited with the bat�aiiz�aasiala8 °
<br /> �.•,ti;�;�e�� for aU instellment items (a).(b),and(a)and a�►Y mortgage insurance premium �instatia�ent that Lendet hss�t b�co�
<br />��,,:t 4bligatod w pay w the SecreuuY. and Lender shall prom�tlY refiaad any excess fhada to Bomower. Immediately p�Ior .
<br /> -- -� • ' �. .*�p f��to��� +,�te ef che Pronercv or its aoauisition bY Lendes,Honowar's account ahaU be credited wltb any balance
<br />__��cr�s� � i�eemaining 4or aU jnsrallmeats for items(a),(b).and (c). .
<br /> mann
<br /> _�~°'�'�.•°'.,� 3. Appl�On up payme�. All payaoents nacler patagrephs 1 amd 2 ahaU�be applisd by L�ender as foUows:
<br />�� � �.to the mortga�e insuraace preanium to 6e pa'sd by I.ender w the Secretary or w the monthly cDnaga by the
<br />��`.°�°� instead of�the montbly :noctgage insuranoe premiuumt
<br />�.=_�!?ir.t:� ��Y
<br />�:-.:-°� SF OND, to aay taxes�special assasments, leasehold payments or grouad reate,aad fire�Aood aud other hazard
<br />����`3� insutaace premiums, as required:
<br /> "`-g�``-�� �'HiitD� w int�rest�due under the Note;
<br /> _--�" pUR , to a�roortizetton of the prlacipal of the Note; and
<br />��;��� �IFI�,I' , to late'char�es due under the Note.
<br /> w--�-- 4. �ine.Plood 4ad atlrs H�acd I�ut�ooe. Botr4wer shaU iasurts all improveameata oa the Propetty.whethet
<br />_�„s� — now ia emstence or�subsequeatly erected, against any ha�acds.casualdea, and contingeacies. �lacluding fire, for which
<br /> :;. �� LEnder requi�s insuraace. 1Uis insureuce sbaU be maintained in the etnounts and for the periods that L.ender
<br /> `_.z:,�' � � requires. Bortowes shait�also iasure all improv�ta on the Ptoperty. ahether now in eaisteace or eubsoquently
<br />�?i,_4 . �, .. erecxed. a8ainst loss by�loods w the exteat required by the Secretary. All insurance shaii be c�rried with oompantes
<br />�."`�;-��i�` $PP�ved by I.ender. The insucance pollcies and any renewals shall be held by T:eader and shall include loss payable
<br /> --��'� ciauses in favor of.and in a form acceptable to,I.eader.
<br /> -_�,s:.�i■
<br /> " In the event of loss,�orrower ahall8ive I.ender im�� gO�Oe by�. � �y� I�OO�of lass if aot
<br />��_^��::� made pmmptly by Boirower. Eacb insurana compaay com:emed ie heteby suthorized and directed w.spalce PaY��
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<br />_;wr;�"' for such loss directly to Leader, iustead of to Bormwer aad to Lendea jointiy. A11 or,any part of the iasuraace
<br /> __`. �- �: P�a �►Y�aPPlied by Lender, st ics option,either (a) to the redncxion of the�ndebte�ess under the Nose and
<br />-. �.,.�.�t and thea to PrepaYment
<br /> ..� ;._.. -. ���ty lnsawiaent, 8rst to aay delinquent amounts applied �►We order in pacagraph 3�
<br /> ;:: " '. of prlacipal. or(b) to the reswradoa or repair of tLe damaged�Property. AnY apPlication of the paoce�ds to the
<br />_ � priacipai shall not extend or pastgoae t6e due date of the m�nthlY PaY�ts which are refetxed to in�ruegraph 2.or
<br />�� � chaqge the amount of such payments. Any eaoesa insutaace prooeeds over mn am.�unt requirod ta pay all ovtatanding
<br />'' � �� indebtedness under the Note aad this Secudty lnsttumeat shall be paid to We entiry legally�titled t$ereto.
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<br />_�� �• In the event of foreclosure of this Security Instrument or other uansfer of dtle W the �raperey that e�ttnguis�►es
<br /> � the iadebtedaess. all right. tide and Interesc of Boirower in and to tnsvrance policiea ia foroe shaU pass to the
<br />- �:. � Purchaser.
<br />- � -- S. p�y, p�avadon, Mdatmmoc gnd Pcot�ia� of the �tq; Bqaowde Lom Applic�oton+ _
<br /> =T--------- Laeeblda. Bomower shall occupy.establish. and use the Paoperty as Borrowa's pdacipal restdeace within sixtydays
<br /> -•-- -e.L_ .�....t et.ei�
<br /> ., � aRer the execudoa of tbis Se�.�uriey Instn�ent (or wiwn a�xcy aays of a iaier saic or�.,:n .,,� s�.�..�.:,,---...._.
<br /> � continue to axupy the Property as Botrower's princlpal resideace for at least one year after the date of occupaacy, -
<br /> .� unleas I.eader detemiinea that requirement will cause uadue hardship for Borrower, or unless extenuat�
<br /> -, . circumstances exist wmich ate be3►ond Boarower'e oontrol. Borrower shall notif�► Leader of amy �xtenuadng
<br /> � �A�IMFHA D�D OF 71tUSf �
<br /> „.. uo�,�e,r syueoo,u�.�eom au1�t Pa$e 2 of 6
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