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<br /> ' � and all easements, appurtenencas, and' �`
<br /> TOQETHEH WITH ell the Improvemente now or horeefler ere�ted on the praperty,
<br /> tlxtures now or hereatter e part o1 the property.NI replacements and edditlons ahali elso be covered by thls Securlty Instrument. � e`;;,:
<br /> WI o1 the icregoing Is referred to In this Secudty Instrument as the "Property." ��`
<br /> BORROWER COVENANTS that Borrower is 16wfully selzed of tho estate hereby conveyed and has tiie ric�ht to grant and y ,�
<br /> convey the Property and that tha Property Is unencumbored, except lor encumbranec�s oi record. Borrower warrents end witl �
<br /> detend generelty the title to the Pr�perty agelnst e0 clakns end demnnds, subJect to nny encumbrencos of rocord.
<br /> THIS SECUflITY INSTRUMENT combines unlform covenents for natlonal use and nan•unilorm covenants with limfted � �.
<br /> • varlailons by Judsdlctlon to aonstitute e unilarm ser,uriry insirument covering real prope�ty. r� ,�
<br /> UNIFORM COVENANT3. 9orrower e�nd Lender covenant and agree as follows:
<br /> 1. P�ymant of Princip�l end Int�rost; Prepayment pnd Lete Chargea. eorrower sf�all prompty puy when � «
<br /> duo ihe pdnclpnl 01 and Interest on the deb�evldeneed I�y lho Note end any prepaymertt and lato cherges duo under the Note. �;;'
<br /> 2. Funds for Taxes end Ineurenee.Sub�ect to eppllcable law or to a wrltten welvor by Lender. Borrower shell pey � M
<br /> to Lender on the dey monthly peyments are due under tha Note, until the Notn Is puld In hill, n sum ("Funds") for: (a) yeurlY G '-
<br /> taxes and assessments whlch may ettaln priority over thls Security Instr�ment es a Ilen on the Property; (b) yearly leasehold �
<br /> M,�,„,,:r� payments or ground rents on the Property,If any; (c) yearly haZSrd or property Inauranco premlums; (d) yeariy(lood Insurance �
<br /> „._,,wµ premlums,if any; (e) yearly mortgage Insurence premlums,ii any: and (� any sums payable by Borrower to Lender in accordance
<br /> with the provlslons of paragreph 6, In Ileu of ihe payment of mortgage Insurunce premlums. These Ilems nre called 'Escrow
<br /> Ilems.' Lendar may, at any tlme, collecl end hold Funds In a� emount not to exceed the maximum amount a lender for e
<br /> federelly related mort�ege loan moy requlre for Borrower's escrow uccount under the federal Roel Estate Sorillf se to the Funrda
<br /> Act ot 1874 as amended trom time to tlme.12 U.S.C.� 2601 et seq. ("R�SPA"), unless another law that epp
<br /> sets e lesser amount. II so, Lender may,at any tlme, collect and hold Funds in an amount not to exceed the iesser amount.
<br /> Lendor may estimate the amount of Funds due on the basis o1 currant data and reasonable est�mates of expenditures of future
<br /> Escrow Items or othervvlse In acoordence wfth epplicable law.
<br /> The Funds shall be held In an Institutlon whose deposits are Insured by a federal agency, Instrumentallty, or entfty (Including
<br /> Lender, It Lender Is such an Institution) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow
<br /> � Items. Lender may not charge Borrower for halding end epplying the Funds, annualiy analy[Ing tho escrow eccount, or veritying
<br /> the Eacrow Items, unlass Lender pays Borcower Interest on the Funds and appllcable law permits Londer to meke auch a
<br /> ' charge. However, Lender may requlre Oorrower to pny a one•llme charge for an independent real estate tux reporting service
<br /> � used by Lender In connection with thls loan, unless epplicable law provides otherwise. Unless an agreement Is made or
<br /> appucable Iaw requlres Interest to be pald,Lender shall not be reqwred to pay Borrower any Interest or eamings on the Funds.
<br /> •' Bortower and l.ender may agree In writing, however, that Interest shell be pald on the Funds. Lender shell glve to Borrower,
<br /> � without charge, an nnnual accounting of ihe Funds,showing credits and deblts to the Funds and the purpose for which each
<br /> debil to the Funds was made. The Funds are pledged as additlonel security for all sums secured by the Security Instrument.
<br /> � If the Funds held by Lender exceed Ihe amounts permitted to be held 6y appllcahle law, Lender shall account to Borrower
<br /> for ihe excesa Funds In accordance wlth Iho requiremenls of applicable law. If the amount of the Funds held by Lender at eny
<br /> �_ tlme Is not sufticlent to pay the F_saow Items when due.Lender may so noti(y Bonower In writing,and, In such case Borrower
<br /> aha�pay to Lender the amount necessary to make up the de(iclency. Borrower shall make up the deflclency In no more than
<br /> tweNe monthly payments,at Lender's sole dlscretlon.
<br /> •.� Upon payment In full of all sums secured by thls Securiry Instrument, Lender shall promptly reFund to Borrower any Funds
<br /> , ;, pe^d�LQ�pnrnpplyuenyrFundgrhed by Lender at ihe timeruf acqul.lUonPorPsAle asna credit�agalnstetheQsums�s cured by thls
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<br /> � Secudty Instrument.
<br /> �. 3. Appltaation ofi Payments. Unless appllcable law provldes otherwise, all payments recelved by Lender under
<br /> paragraphs 1 end 2 shsll be epplled: flrst, to eny prepayment charges due under the Noto; second, to amounts payable under
<br />• paraqraph 2;third,to Interest due;tourth,to pdncipel due: and last,to any lato charges due under the Note.
<br /> 4. Che�ges; L18118. Borrower shQll pay all taxes, assessments, charges, tines and Impositlons attrlbutable to the
<br /> Property whlch may attaln prlorlty over thls Security Instrument, and leasehold payments ar ground rents, If any. Borrower shall
<br /> pay these obllgatlons In the manner provided in paragraph 2, or if not pald in that manner, Bartower shall pay them on time
<br /> directiy to the person owed payment. Borrower shall promptly furnlsh to Lender ali notices of amounts to be pald under thls
<br /> „ paragraph. II Borcower makes these peymenis directly, Borrower shall promptly fumish to Lender receipts evldencing ihe
<br /> ;� Payments.
<br /> Bortower shall promptly discherge eny Ilen which has priority over thls Security Instrument unless Bonower: (A) agrees In
<br /> �, writing to the payment of the obllgatlon socured by the Ilen In a manner acceptable to Lender; (b) contests In good falth the
<br /> Ilen by, or de}ends agalnst entorcement of the lien in, legal proceedings which in the l.ender's opinlon operate to prevent the
<br /> �` enforcement of the Ilen; or (c) secures (rom the holder of the Iien en agreement satisfactory to Lender subordinating the Ilen to
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<br /> ;. thls SecuHty Instrument. Ii Lender determNes ihat any part of the Property Is subJect to a Ilen whlch may attaln prlority over th s _
<br /> f Socurity Instrument, Lendor may give Borrower a notice Identilying the Ilen. Borrower shall setlsiy the Ilen �r take one or more ot
<br /> • the actlons set forth above within 10 days u1 ihe gtving of notice. F�;
<br /> � 5. Hazerd or Property Insurance. Borrower shali keep ihe Improvements now exlsting or hereatter erected on the �_
<br /> �� Property insured agalnst loss by fire, hazards Included wlthln the term "extended caverage° and any other hazards, Including
<br /> floods or ilooding, for whlch Lender requlres Insurence. This insurance shall be malntalned In the amounts and for the pedods _
<br /> '`` �� that Lender requlres. The Insurance ca�ler provldng tho Insurance shall be choaen by Bortower sub�ect to Lender's epproval _
<br /> which ehall not be unreasonably withheld. Ii Borrower fells to malntein coverage descrfbed above, Lender mey, at Lender's _
<br /> g oplion,obteln coverage to protect Lender's rights In the Property In accordance with psragraph 7. -
<br /> . � All Insurance policles and renewals st�all be acceptable to Lender end shall Include a stendard mortgage clause. Lender
<br /> shall heve the right to hold the policfes nnd renerrals. If Lender requires, Bortower shell promptly glve to Lender all recelpts of
<br /> � pald premlums and renewel noticns. In the event oi Ioss, Borrower shall glve prompt notice to the Insurance carrier and Lender.
<br /> Lender may make proof of loss if not tnade promptly by Borrower.
<br /> Unless Lender and Borrower othenvise egree in wtlling, insurence proceeds shall be epplled to res+oratlon or repair of the
<br /> Property demaged, if the restoratlon or repalr is economically feusibla and Lender's security is not lessened. H the rostoratlon or
<br /> repalr is not economfcally feasiblo or Lender's security would bo lessened, the Insurance proceeds shall be epplled to Ihe sums
<br /> secured by thls Security Inslrument, wheltier or not lhen due, with eny excess pold to Borrower. II Barrower abandons the
<br />. Property, or does not answer withln 30 dpys a nolice Irom Lender thet the insurance carrier hes oftered to serile a clnlm,then
<br /> Lender may collect tho Insurance proceeds. Lender mey use the proceods to repair or restore the Property or to puy sums i
<br /> secured by this Security Instrumenl,whelher or not then duo. The 30-day period wlll begin when the notice Is glven.
<br /> Unless Lender end Borrower otheiwise agree In wriling, any appllcatlon of proceeds to princlpal shall not extend or
<br /> postpone the due date of the monthly payments referted to in parographs 1 and 2 or change the amount ot the payments. If
<br /> - under paregreph 21 the Property is acquired by Lender, Borrower's right to any Insurance policfes end proceeds resulting trom
<br /> damage to lhe Property prior to Ihe acquisilion shall pass to Lender to the extont o1 tho sums by this Security Instrument
<br /> Immedlately pr�or to the acquisltlon.
<br /> 6. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan
<br /> �__��__.e_... �_......a..�.�.. o..�..W,,. otien ., „ oatahlfch and ��se the Proaertv as Borrower's princlpal residence within
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<br /> � I sixly days nker the execution�ol this Securiry Instrument and shall continue to occupy the Property as Borrower's principai
<br /> ; residence for ut least one year aiter the dnte of occupancy, unless Lender otherwise agrees in writing, which consent shall not i
<br /> _ � be unreasonably withheld, or unless extenuating circumstances oxist whlch are beyond Borrower's controL Bonower shall nol
<br /> � destroy, dameg2 or impalr the Property,ullow the Propeity to deteriorate, or commit waste on ihe Property. Borrower shall be in '
<br /> default if any forfeituro action or proceeding. whether civfl or criminal, i; begun that in Lender's good(nith judgment could result I
<br /> -, fn forteilure oi the Property ur otherwise maleually Impair the lien created by this Security Instrument or Ler�der'a security interest.
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