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<br /> , E ` ` ` � � Ut�o�t Cov�xaxrs. Bormwer and Leader o�venant and a as foIIaws: m �� ..
<br /> � ��d°���d y .
<br /> . 1. Ya y i a e nt of Priadpal and Intemse�PecPalmeat ead I,ete C�seges. $orro ro a when due •.: ' ..
<br /> - � -•• ,�. .�" ; the prin�ai of aad interest on the debt e►+idenccG Dy tise�1ote and any Prepaymeac and late charges due under the Note. �,; � ��^r, �
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<br /> . _ � . ., :. F•�rtds for Ta�ces a�ad Insurunc� Subjecs ta applicab2e law or to a wtittea waiver by 1.eader.Borrower ahail ... . . ,
<br /> ` , pny to Ixacct oa thc day montt�Iy Payntenis aze dae uader the NotG untd the Ptote is paid m full.a sum("Funds'�for. � , , .'.
<br /> , < �� t; .; (s�yeaziy taxes aad aasesgmenta which may auain priority aver t�is Security Iasuument as a lien on We Pcopert5�:N) � ` . .
<br /> . ycarly�easehoTd gaymenis ar�ouad rents on cise Propert5►.if anY:(c)Yeasiy hamrd or progetty iasurance premiums:(d) - •: �: � ••..
<br /> •. ` . mort e insu:aac�e remiums.i f aay;a a d(fl aaY sum: pa y a b 2 e b y . .
<br /> yearty load iaguraaae premiums.if anY+ �e)YearZS► 888 P r `
<br /> , . '� gozmc,er to Leader.ia aocardanoe with ttte ptavisiot�of Fata�aPh 8.in lieu of the payiaeac of aiortgage insusanoe � ,� :..`;,
<br /> . `-� Premiwns.These item4 ase calted'Fscrow Item�.°LEnder may�at a�►tim�w1le�t aad tw2d Fuadg m an amouat itot ta � .
<br /> e�ooeed the msmmum amount a teadcr for a federalIy related mortgage loan may require for Borrower's escma►aocouat
<br /> � � t uaster the federal Real Fstate Setttement Praaedur�s Acc of 1974 as amended fmm time co time. 12 U.S.G§2601 er _ -���;"` � ,.
<br /> --=--- --;:� �q, (�RFSpp°�. ualess another Iaw tHat appfies w thc Fuad4 sets a Iesser�,�++**_ If s0. l.ende:maR at aa3►ti�s+ �"._: ,-�-;--�-_.-
<br /> � colIect acd hotd Funds in an amount not w eameed the ksser amnunt. Lender may estimate the amount of Fnads due
<br /> `. on the basis of cumat data aad reaso�able estimates of expendituses of future Esaow Items or otheiwise ia accordance � � �
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<br /> � with appli�b2e Iaw , . , x•`�..
<br />.. � . � The Ftmds sball be heId'm aa iastitution whase depasna are ms�ued by a federai agency,mstru�eatality,or earity►
<br /> � : � , (includmg Lender,if Leader is such aa institution)or ia atry Federal Home Loaa Bank. I�eader sI�aD aPP�3+the F�mds . -
<br /> - to pay the Escaaw Items. Leader maq not cbaxge Boaower for hol�'utg aad aPPIying t�e Funds,annuall9'anaty�g the -- __--='_.`___y':..
<br /> ' �caaw acmu�.or verifying the Fsiaow Item�►uAleu Lender pays Boaawer inter�t on tke FundS and appkssb2e!aw �--
<br /> . , •�,� � aow s -'-
<br /> • permirs Lender w make suc� a c2�a$�. Hawever,L.eader maY require Eoaower w paq a one ti,me cdrarge for an - ,.-
<br /> _ '..�; � indEPendeIIt resl estate tas reparting setvice trsed hy I.ertdes ia mnttectioa with this loaa,unlass applicable Iaw prm+ides ,',..�.:,:.�=i
<br /> > . 4� .;. ! othe�e. Unless aa agreement is made or appru-able law requires int�erest to be paid,Lender shalt aat te required co
<br /> , pay BoAaWer anp intcrest ar eam'vag�oa the Fands. Bormwer aad Ixnder may agree in�g,hawever,tbat mtere,si _
<br /> < - shall be paid Qa tl�Fimds. I�ender shall give w BormRer.without charge,an aanual aaoounting of the Funds.showing
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<br /> - credits and deb�to the Fuads aad the gurpase for whish each debit to the Funds aas made. The Fuads are pled�Ed
<br /> . as addiao�l sec�uity for att sums saaaed by this Seauity lasmmteat • --
<br /> �, ',';;` � .,,.`: If the Foads hetd by�I�nder exoeed the amouats petmiued to 6e held by applic;able law,Leader shaII accouat w ' .. -
<br /> --� � - - Boitowa for the exce.�,s Funds ia aveardaace wish the requuemeats of applicable faar. If the amouat of the Fuads heid _ , `-
<br /> �. - _ by Leader ai any time is not s�cient to pay the Escraw Items when d�I.ender maY so notify Borrawer us vvriting,aad, •���`°`�
<br /> , . in such case Bortower shall gay to Leader the amount neeessary to make up the defscienry. Borrawer sl�all make up '-.�-;�_ _
<br /> , N.;:; .,_ ;:g,�--
<br /> � ' the deficienc�+ia no more tl�an tweive montHl9 Paymeats.at Leader's sote ducretina ,-
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<br /> - . _- ;,:.:;_ Upon payment in full of all sums seu�red hy this Seeutiry Intunmeat.Leader shaD promptIy refuad to Bo:rawer �•�. ,.����
<br /> _ , aay Fuads held by l�ender. If�undec para�aph Zl, Lender ahaIl acqnire or sell the Propecty. Leader,mior to the �
<br />. . ..� acquisitIoa ar saIe of the ProperCq.ahan aPP�Y�Y Funds held hy I.ender at the dme of aoquisiBon or saie as a credit .-��r_.
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<br /> -. .- .�;.,; a�t ths su�s s�cur�d by tbis Se,writy Iastrument --- _ _ _
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<br /> ;, ' . � Agpticatloa oi Payments. Unl�s appli�able 1aw pravidcs oWernvisE,aII payments reaived by Lender und� , --
<br /> . ; , paragraphg 1 aa�2 shai!I'�applied:6rat.to ai►Y P�P���TSes due aad�r the Not�second,w ama�mu payab2+e , -
<br /> ��P��Ph Z:t�,as interest du�fourth.w PriadPal du�and 1ast,to aay late charges due under the NOte. 4,,`iz; '���w
<br /> ' 0. t7�aege�Idens. Botrawer shaII pay all ta�es,assc�ments.charBes.5aes aad napositions attn�utable to the '<F��"'•' .:.,�.,�
<br />. - . _� '- �F�9 W� �Y a� Priority aver this Seciuity IaStrumens, aad Iease Bo l d payments or �ro u a d reats. i f aaY : . ,�
<br /> .. ' �,.�:fi Bairflwer sbaIl pap these obligations in the manaer pravided ia paragtaph 2,or�f not gaid in that manner.BoFmwer :',`����'
<br /> � - shali pay them on time d�eeth►to the peisoa awed payment Bon�awer sha�pmmptty fiun"sh to Leada aIl not�a�s of r : _
<br /> - _ � amo�to be aW undQr tI�'s paragraph. If Borrower makes these payments d'uectty,Bo�w�ahail Pro�2.`19�� �����.�`�� r=_--
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<br /> to I�ender re�eipts evi�g the paqments. `�. aA
<br /> . ' Borsaa�r shaII PmmPUY��6e anY lien which has prlority over th�s Secuiiry lastrument unlcss Scr.a�er.(��. �.: ��._�-'
<br /> . � � �' 8gcees in wri�to tt�e�ayment of the obligation seaued lsy the T�m a maaner ameptable to I,endel;(b)watesu i�. `� ;,��;'' °_ -
<br /> � �: ��, ;'�, gaod faith ti�tfen by:ar d e f e n d�a g a t a s t e n f o r o e m t e n t o f t h e li e a u�I�g a l F r e o e e d i n g s w h i c h i n t h e L E a d e i'a e P i�o� __;�.-.:.�:
<br /> ' . � � , ope:su w prevent the e�!'useement of the lien:ar(c)secures f r om t i z e h o I d e r o f t h e l i e a an a g r e e m e n t aa t l�f a c wiY t o : _=.;�,._._.
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<br /> - � ' ' Lender subermnating the�a to thig Secuzity Iestrument If Leader dete�es that aay part of the Pro�erty is subject ��?"`�„'
<br /> � .. to a lien whieh maq atram prioriry over tl�is SeauitY Inst�umeat,Lender may give Boimwes a notiae idenci�ing the lie� � ,�,�. ;
<br /> gmrower al�aU satiafq the liea or take one or more of the acdons set forth a6ove within IO days of the givmg of nodce. • -
<br /> _ S. Haz�tl or Pmperey I�. Bon+awer shaII keep the impravementa naw eadatiag or herca&ei erected on ���
<br /> :. � ,: . . the Ym faauted a�t Iass by fite.1�a�arQs inctuded witbia the tesm'eateaded ooverage'and a�r ather hazatds, � �.= � -. �__.
<br /> . ' . �g�IIoads or tIood"mg,f or a t�i c h I.e n d e r requirea i a s u r a n c� 'I h i s�m u r a n c e a h a D b e m a�e d'm t h e a m e u n t s a a d =;�;_ _
<br /> .. � for the pesiads that Leader req�s. 'ihe iasuraace carrter pmvidtag the insuranx aha11 be c�osen by Bamaover subject -=` '.F,_-
<br />_ . . w I�eader's appraval wbich sha0 aot be unreasonabtg withheld. If Bosrawer fa�s to mamtain aovarage desvn'bed abav� - -===-w:-
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<br /> . � . • . I,eadet ma9�at I.eadmr�a optina`obmmoav�a�e to pmtecc I�da's r�ghfs m the BcopeKy in soco:danoe wah para�aph Z . .,.":=''`a'' "�.
<br /> I�e der _._.�.�.�j..�,..�� �"�,
<br /> . . __ AD msuranoe poHdes and renea�ats s1�aD be aoeeptable w I�eader aad shaII include a steadard martgage c�aus� °_ . - _
<br /> . . Lend�ahall 1�ave the ti�ht to hoW the poliaes aad�aecvaLa.lf Lendet requir�s.Borrawer shall P�P�9���� .,
<br /> ' � : aII retseipts of paid premiums and renewal nottc�+. Ia the event of I�.Hoimwer sbal! givo prampt aatfae to the .
<br /> - � . � iasuraaoe cairter aad Leader. Leader may maYe proof ef Ioss if not�ade promPUY�B Bfl��; � .
<br /> •;. �,.: . � UnIess Leader and Bormwer oWeiwise a�ee m amti�ag,ia�uianae prooceds sbaII be ay�lied to restoratioa or _ ,
<br /> , . repafr of the Property damaged,if the rstoration or repa�r i�eaonomicaIl�l feas�3le aad I.eader'�aesueiry is not iessened. .. �
<br />-.; , If tha r�sW�n or repair is not eaoaomicaIIy feasible or Lea�er'a serurIry aroutd be Ieueaed the iaguranae prooeeds
<br /> � shall De applied to the sums serured by t�s Seeudty Imtrumen�wHethar ar not then du�aritt►anY esar.s paid w , � � ._. -
<br />_ . • 8ormwer. If Borr6wer a3random the Property►.or daes not aaswer withia 30 days a aeti�fram Leader that t�e iaSwaace .
<br /> j'� ' ranier hag offezed to settle a ctaim.then Leader may aoliect the iasuraaae psaaeeds. Lender may use tlse pmoeeds to - � ' �
<br />_ � � repair or reswre tho Propeny or to pay aumti seeured isy t9is�eauity I�trumen4 ahet�er or nflt then du� 1he 30- � .� .
<br /> - dal►Petiod wU begfin aflen the aotiae is givea .
<br /> '_•:. : Uat�s Irender aad Sorrawer otiterai�e agree in writln8+�Y$PPlic�tion of pmoeeds to priadpal shaI!nut e:tead '
<br /> _ �. or gostpoae�lte due date of the montt�2S►Paymeats refeaed t�in Pazag�aPh4 1 attd 2 or c6ange the ataouat of tltc :
<br /> _. . paymeata, 1P uader para�rapL 21 tha Prog�ny i4 aaquired by Lender.Borrowet'a right co any��+�•A�poli�es aad . .. ,
<br /> �'� � pmooeds re,sulting fmm damage to the Property prior to tho aoquisition shall pau to I�euder to the eateat of the sums .�'� .
<br />"�� -. � , seaued hy this Seauiry latuument imatedfiately�rior to the aaquisitioa • . •
<br /> - : �. •:� 6. baca�nc9. Yrservattma.Mainteaaase nad Pmt�taa o!the Propeety;Bare+nRee's La�AppllcaHon; • .
<br /> L�sehotd�. 8orrower ahall aavpy.establ�aad use thc P�operty as Boaaauer's pria�pal residentoe withia ai�Y days
<br />-= � aRsr the aeivtion of ttvs Security Iasuumtnt aad nh�ill aaatinue w oawpy the IIrogerty as Barraseer's priadpal r�sidemoe ... ,
<br /> ° for at Ieasi oae year aRer the Qate of oaaigansq.unIesg I�cnder mhe�adse a�in writiug,w�h comeat abalf not be . .
<br /> - uuseasoaabty arithheld.or ualc�eatenuating dr�vmstaao��st ahic6 are beyoad Bortawer's aontmL 8armmrer shall .
<br /> - ' aot desuoy,damage or impair the Property,alIaar the Property to deceriorate,or commit cvaste oa the Property. �
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<br /> .. . 4l98 lPaSa 2 a!8 PBges) ,
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