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<br /> � • TO�ETNER WITH all lhe Improvements now or hereafler erected on the property, end all easaments,appurlenances. and ��:.._��
<br /> ���-=� ,
<br /> � 1lxturoa now or hereeller a part ol tho property.Atl replecomenta end addillons shell elso be covered by thls Ser,urlty Instrument. � � ���.._._
<br /> r.:`,_�._�_
<br /> All ol tho loropolnfl Is ralotred to In thls Security Instrumont ao Ihe'Properly." � +.•_:�;�
<br /> BORHOWER COVENANTS thnt Borrower Is lawfully selzed ol lhe oslalo heroby convoyod and hns Ihe rlgl�t to grant end ";�;.�,',�:':�'
<br /> c:anvoy lhu Propr.ity and lhnl lho Property Is u7encumberod, oxcapi lor encumbrancos of rocord. Borrower warrnnls and wlll
<br /> deic�nd��encrnlly Iho tillo lo tha F'rope�ty n��n�nsl nll r.lalms nnd demunds, su�Ject lo uny encumbrnnces ol record.
<br /> THIS SECURITY INS�RUMENT r.ombEnes unllorm covonnnls for nollonnl use and non unitorm covenents with limited y .`. _
<br /> vedqtlons by�urisdictlon to constllulo n uniform necudry Inatrumenl covoring real pruperty. ;:r;�•
<br /> UNIFOFiM COVENANTS. Botrowor and Lendor covonant and egreo ns lollows: I .�_•'-
<br /> •� _ 1. Payment of Principal end h�tereet; Prepayment and Late Cha►ges. eorrowr.r�hell prompHy pey when .;''':
<br /> dua ll�a princlpnl al and Intereat on lho debt �vldenced by the No�e and nny prepsyment ond Into chnrqos dua w�dor Ifie Note. � , .p
<br /> Z. Funcfa tor 7axea and Ineurance. SubJecl to epp��cnble law or to a wrltton wah��r by Londer. Harrawer shell pay � • '`�:-'0 r"
<br /> to Lundtn on lhu d�y monlhly puymenls ate due und�r Iho Notr.. unlll Iho Nole Is pnid In lull. n sum("Funds') lor: (o) yomly � •.. .. '""
<br /> Inxns and nssossm�nla whlch may nilnln p�lodly ovcr lhls Secudty InsUumont as o Ilen on lho Proporty; (b) ycarly leasehold ,. ?!='?=�
<br /> ��� peymenls or ground ronts on the Proporty. U nny; (a) yearly hoxerd or propeny ineurance promfurns; (d)yeady Ilood Insuranco O ,�'„,�-p=,
<br /> •' �*'.� premlums, II any.(o) yendy mortgaflo Insuranco premlums,II any; and (Q any sums payable by Borrawer lo Lender In accardance W • ':-w�=_
<br /> wllli tho provislons ol paragraph 8, In Ileu ol the payment ol mortgage Insurance premlums. These itoms are called "Escrow �
<br /> Ilems.' Lender mny, at uny dma, collocl and hold Funds In en amount not to exceed the maxlmum emount a lender 1or e .�
<br /> ��•�
<br /> faderelly relatod monqa�o loan mpy raqulre {or Borrower's ascrow account under tho (ederal Real �smlo Sattlemenl Procedures , .,��.�_
<br /> � Act ol 1874 es emended(rom time to tlme, 12 U.S.C.�2601 el aeq. ('RESPA'), unless enother law that epplles to Ihe Funds ,'�;_
<br /> sots ❑ �asaer nmounl. II so, Lendor moy, et any Ilme, colloot and hold Funds In en amount not to oxceed Ihe lesser amount. ��� --
<br /> Lender may ostlmote iha aroount ol Funds due on the basls ol current data and reas�neble esQmatos of expendltures oi future T.i�,
<br /> Escrow Itoms or olherw�so In eccordence with applicnble law. ,��°
<br /> � The Funds shall be held In en Instltutlon whose deposits are Insurad by a lederal agency,InstrumentaGly, or enllly(fncluding - .
<br /> � Lender, II Lender Is such an Institullon) or in eny federal Home Loan Bank. Lender shell appty tho Funds to pay lhe Escrow �'�
<br /> �. �—��.''.
<br /> �. Items. Lender may not charge Borrower tor holding and applying the Funds, enmially anelyzing the escrow accounL or verifying �
<br /> �� the Escrow Items, unless Lender pays Borrower Interest on the Funds and appucable law permils Lender to make such e �'
<br /> �- char�e However, Lender may requlre Borrower to pny a one•tlme charge for an Independent real estate tax roporting servlce �_
<br /> � used by Lender in connecllon with this loan, unleas appllcabie law provldes otherwiae. Unleas an egraement is made or
<br /> �., appllcable law requires Inlerest lo be pald, Lender shell not be requlred lo pay Barrower any Interosl or earnings on Ihe Funds.
<br /> Borrower And Lender muy egree In wrilli�g, howover, that Interesl shall be pald an the Funds. Lender shall give to Bor►ower,
<br /> wilhoul chargo, an annual accounling ot the Funds, showing credits and deblls to Ihe Funds and the purpose for whlcfi each
<br /> �.� debit to lhe Funds was mede. The Funds are pledged as eddfllonnl seairlty tor all sums secured by Ihe Sacurily Instrument.
<br /> II the Funds held by Lender exceed the amounts permitted to ba held by eppllceble law, Lender sha!account to Borrower
<br /> lor the excess Funds In eccordance wlth the requlrements o1 applicable lew. N Ihu emoun! ol the Funds held by Lender at any
<br /> time Is not su(ficient to pay the Escrow Items when due, Lender mey so notify Borrower In writing, and, h such case Borrower
<br /> shali pay to Lender the emount neca�sary to make up the de0clency. Borrower shall make up lhe defldency in no more then
<br /> lwelve monihly payments,at Lender's sole discretion.
<br /> Upon payment In full of all sums secured by lhls 3ecurity Instrument, Lender shall promptly retund lo Bonower any Funds
<br /> � �I held by Lender. II, under paragraph 21, Lender shell acqulre ar seii the Property, Lender,prior to the acquislllon or sale o(the
<br /> Property. shell apply any Funds held by Lender at lhe tlme oi acqulsitlon or sele as a credit egainsi the sums secured by thls _
<br /> - - Security Insirument.
<br /> 3. Application of Payment8. Unless appliceble law provldea otherwlse, ell payments receFred by Lender under
<br /> ' paruprephs 1 end 2 ahnll be applied: Ilrst, to any prepayment charges due under the Note; second,to emounta payable under
<br /> peragraph 2; thlyd, lo interest due; fourth,to principal due;and last, to any late charges due under the Mote.
<br /> �3. Charges; LIet18. Borrower shall pay all lexas, assessments, chargea, tines and Impositlons atlributeble to Ihe
<br /> f'roperty which may etteln prlority over this Socurity Inslniment, end Ieasehold payments or ground rents.H any. Borrower shall
<br /> pay these obllyetlons In the manner provided In peragreph Z, or If not peld In that menner, Borrower shali pay them on tlme
<br /> directly to the person owed peyment. Borrower shall promptly lumist� to Lender all noticos ol emounts to ba pald under thls
<br /> � peragroph. If Borrower makes these payments directly, Borrower shall promptly turnlsh to Lender receipts evldencing the
<br /> payments.
<br /> Borrower shall promptly discherge eny Ilen which hes prlorlly over lhis Security Instrument unlosa Borrower: (e) agrees In
<br /> writing to the payment of tha oblfgatlon secured by the Ilen In e manner ecceptable to Lender; (b)contests In good telth ihe
<br /> Iien by, or defends ngalnst enfarcement ot the Ilen In, legal proceedings whlch in Ihe Lender's opinlon operate to prevent ihe
<br /> `� ` enforcement of Ihe Ilen; or(c) secures from the holder oi tfie Ilen en ngreement aelistactory to Lender subordlnaling the Ilen ta
<br /> � this Security Insirument. It Lender determines that eny part ot the Properly is subject to e Ilen which may attaln priarity over ihis
<br /> Secudty Instrument. Lender may grve norrower a notice Ideniiryinc� the Ilen. eo�rowe� shatl salla(y the Ilen ar ta�s ons cr���cts at
<br /> ihe ectlons set lorth ebove wilhin 10 days of the glving ol notice.
<br /> � S. Hazard or Property Insurance. Borrower shall keep the Improvements now exlsting or hereaiter erectod on tho
<br /> � Property Insured agalnst loss by tlre, hezards includad withln the term 'extended coverege' and eny olher hazards, Including
<br /> Iloods or (looding, for which Lender requlres Insurance. This Insurance shall be meintelned In the emounle end tor the pedods
<br /> ,� thet Lender requlros. The Insurence cenier providing the Insurance shell be chosen by Borrower subjecl to Lender's epprovel _ _
<br /> • j which shall not be unreosonably wiihheld. It Borcower falls lo malnteln coverage doscribed ebove, lender may, at Lender's
<br /> � #• optton, obtaln coverage to protect Londer's rights In the Property In accordance with paregraph 7.
<br /> All Insurence pollcles and renewels shell be acceptable to Lender and shatl Include a stendard mortgage clause. Lender
<br /> shall havc+Ihe iight to hold the policles and renowals. I( Lender requlres, Borrower shel�prompliy glve lo Lender ell receipts ot
<br /> pald premlums ond renewal notices. In lho event ol loss, Bortower shell give prompl notico lo the Insuranca carrler and Lender.
<br /> Lender may meke proot of ioss II not made promptly by Bortower.
<br /> Unless Lender and Borrower otherwlse agree U� wrltlng. Insurance proceeds shall be applled to resloratlon or repalr of lhe —_ - _
<br /> Property damaged, It the rostoratlon or ropalr Is economlcally(easible and lendnr's sacudty Is not lessened. II the restoratton or �-_—�
<br /> rapalr Is not economically feaslble or Lender's secudry would be lessened, the Insurance procaads shall be epplled to tho sums ��„3;_� _
<br /> secured by thls Security Instrument, whether or nol then due, wilh eny excoss pald to Borrowor. If Borrower nbandons lhe -��:n�:`�<<�
<br /> Properly, or does not answer within 30 days n notice Irom Lender that the Insurence carcler has otferod to settle a cleim, then ���=' °_
<br /> ';t�
<br /> Lender mny collect the Insurance proceeds. Lender may uso Ihe proceeds lo repAir or restore the PropeHy or lo pey sums •
<br /> secured by thls Securily Instrument, wliether or riot then due. The 30-day period wip begln when the nolke fs glven.
<br /> Unlrss Lender end Borrower otherwise agroo In wrfting, any applicatlon ol proceeds to princlpal shall nol extend or
<br /> I postpone ihe due deto ol the monlhly peyments relerred to In paragtaphs 1 and 2 or chango the amount ot tho paymenis. N
<br /> under paragraph 21 the Property Is acquired by Lender. Borrower's rlght to eny Insurance pollcfes and procoeds resulting Irom
<br /> dnmage to the Proper[y prlor to iho acqulsitlon shall pess to Lender to the extent of the suma by Ifds Security Insirument •�
<br /> Immedlalely pdor to thQ ecqulslUon.
<br /> 6. Occupancy, Preservatton, Maintenance and Protectlon of the Property; Borrower's Loan
<br /> ; AppliCatlOn; LeeeehOld9. Bonowor shnll occupy, establish, and use ihe Properly ns Borrower's pdnclpel resldence within
<br /> ' sixly days ufter the executlon of thls Securily Inslrument antl snan continue to occupy inv Properiy as oorrower's principni --
<br /> I
<br /> � residencc lor nl lensl one year a(Ier Ihe dnle of occupnncy, �mless Lender olherwise agrees In wtiling, which consent shall nol
<br /> I be unrec�sonably wilhheld, or unless extenualiny clrcumslances exist whicli nre beyond Borrower's conirol. Borrower shall not �
<br /> , desiroy, damage or impalr Ihv Property, allow ihe PropeHy to deterlorele, or commli wesle on the Properiy. 9orrower shell be In I
<br /> � delaull II nny lodelture nctlon or proceeding, whether civll or crGninnl, Is begun thet In Lender's good tallli Judgment could re,ult
<br /> i in lorleiture ol Ihe Properiy or olherwise m�leduily Impc�ir the Ilen creuled by thls Securiry Instrument or Lender's secudty Interesl.
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