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<br /> . • TOOETHER WITH all the Improvemants now or hereeftor erecled on the property, and all easementa appurtenencea end � C3_
<br /> flxturos now or her�after a part ot the propeRy. All replacements and additlona ehell also be cavered by ihla Security Inetrument. .� _
<br /> ' All of the(oregoing Is referted to In thls 8ecurlty Inatrument as the 'PropeRy.'
<br /> BORROWER COVENANTS thet Borrower Is iawlully selzed of Ihe estate hereby conveyed and has Ihe ripht to qram and � ��_-
<br /> convay the Property and ihat the Property Is unencumbered, except for encumhrancos ol record. Borrower werronte nnd will �
<br /> defend generally the title to the Property agalnst all clalms end demends,au b Jact to any encum brences o f rec o r d. �
<br /> THiS SECURITY INBTRUMENT combines unllorm covenenta lo► netlonel use and non•unitorm covenents wlth IimttAd � ___ -
<br /> • vndatlane by Jurladictlon to conetitute s unllorm aecudty Instrument covering real property. � -
<br /> UNIFORM COVENANTS. Bonowor end Lenda covennnt end egreo aa follows: �;v�.
<br /> 1. P�ym�nt of Princip�l �nd Int�r�st; Pnpsym�nt �nd I.�te Chargos. Borrowor aheil promptly pay wlien Qj
<br /> ' dua the princlpel of and Interest on the debt evldenced by the Note end any prepeyment nnd lalo chargos due undEr tho Noto. �_
<br /> 2. Funde fAr Ta�xoc and Inauraroeo.Sub�acl to appllcable law or to n wdttnn weiver by Lender. Borrower sheY pay �-,
<br /> ta Lmdet on ihe dAy monthly peymenis ere due under the Note, untll tha Note Is pnld In full, a aum (`Funda') for: (a) yeerly
<br /> ,,,,,,,.� � texea end aasessmenta whlch may eltatri priorlly over this Security Insirument eo a Ilen on the Property: (b) yearly leavehold
<br /> ..y ,� pnyments or ground rents on the Property, fl any; (c) yearly hazerd or propeAy Inaurenca promluma; (d) yearly flood insurance
<br /> !j premluma, H any; (e) yearly mortgage Inaurence prnmlums, I1 any; end(n any sums payable by Borrower to Lender In eccordance
<br /> wlth the provislona of parngraph B, In Ileu ot the payment o1 mortgaga insurance premlums. These items ero called "Eacrow
<br /> Items,' Lender may, at any tlme, collect and hold Funds In an emount not to exceed the meximum amount a lender for e
<br /> � 9edersliy relatod mortgape loan may �equire (or Bortower's escrow eccount under the federal Real Eetate Suttlement Prooedures
<br /> Act of 1874 as emended irom tfine to tlme, 12 U.S.C.�2801 et seq. ("RESPA'), unlesa another law that applles to the Funds
<br /> sete a lesser amount. It so, Lender may, at any tlme, collect and hold Funda In an amount not to exceed the lesser amount.
<br /> Lender may eatimete the emount of Funds due on the basis of current date and reasonable estimates ot exponditures ot luture
<br /> Escrow Items or otherwlse In accordance with appllcable law.
<br /> ,. Th9 Funda shall be held In en Institutlon whose deposlts are insured by a tederal egency, In�trumentelity, or ontity(Inciuding
<br /> Lender, II Lender Is such an Institutlon) or In any Federal Home Loan Bank. Lender shall apply the Funds to pay iho Escrow
<br /> • Itema. Lender mey not charge Borrower for holding and apptying the Funda, annually enalyzing the escro►v accnunt,or vedfyfng
<br /> • the Escrow Items, uniess l.ender peys Borra�ver Interest on the Funds and applicable lew pertnits Lender to make such a
<br /> charge. However, Lender may requlre Bortower to pay a one-tlme charge tor an Independent real estate tax reporting servlce
<br /> . used by Lender In connectlon with thls loan, uniess eppilcable law provldes othervulse. Unless an agreement Is mada or
<br /> applicable law requlres interest to be pald, Lender ehall not be requlred to pey Bortower any Interest or eamings on the Funda.
<br /> ;, Bortower and Lender may agree In writing, however, thet interest shall be pald on the Funds. Lender shall give to Bortower,
<br /> � without charge, en annual accountlng of the Funds, showing credile and deblts to the Funds and the purpose for whiah each
<br /> debit to the Funds was made. The Funda are pledged as additlonal security for all aums secured by the Securlty Instrument.
<br /> � If the Funds held by Lender exceed the amounta pertnittod to be held by epplicable Iaw, Lender shall account to Borrower
<br /> tor the excess Funds In accordence with the requlrements of appucable law. If the amount oi the Funds held by Lender at eny
<br /> time Is not sutflclent to pay the Escrow Itemo when due, Lender may so notNy Borrower In writinp, end, In such case Bortower
<br /> ,� shell pay to Le�der the amount necessary to make up the deflcfency. Bortowesr shall make up the daflciency In no more than
<br /> tweNe monthly payments,at Lender's sole discretlon.
<br /> Upon payment In full of all sums secured by ihis Security Instrwnent, Lender shall promptly refund to Borcower any Funds
<br /> held by Lender. If, under paragreph 21, Lender shall acqulre or sell the Property. Lender, prior to the acqulsitlon or sale of the
<br /> � Property, shell apply any Funds heid by Lender et the dmo ot acqmsition or asie as a credii ngainai tnn �umy ancurau Gy it�io
<br /> � Security Instrument.
<br /> 3. Appllcatlon of Payments. Unless applicablo Iaw provides utherwise, all paymenta recelved by Lender under
<br /> • paregrephs 1 end 2 shall be applled: flrst,to any prepeyment cherges due under the Note; second, to emounts payable under
<br /> • paragraph 2;thlyd,to Interest due; fourth,to prir.cipal due; and last,lo eny late charges due under the Note.
<br /> 4. Cha�gAB; Llens. Borrower shall pay all taxes, assessments, charpes, tines and Imposltlons attributable to the
<br /> Property whlch may attaln prlodry over thls Secudty Instrument, and leasehold payments or ground rents, (f any. Bortower shall __ _
<br /> ' pay these obllgations In the manner provided In paragraph 2, or If not pald In that mannor, Borrower shall pay them on time
<br /> �_- directly to the person owed payment. Bortower shall promptly tumish to Lender ail notices of amounte to be pald under this
<br />, �• peragraph. If Borrower mekes these payments directly, Borrower shall promptiy fumish to Lender recelpts evldencing the
<br /> payments.
<br />' ��� Bortower shall promptly dlscharge any Ilen which has prfority over thls Security Instrument uniesa Borrowr�r: (a) agrees In _
<br /> � wdting to the payment of the obligatlon secured by the Ilen In a manner acceptabie to Lender; (b) contests In good tellh the _
<br /> � Ilen by, or defends agelnst enforcement of the Ilen In, legal proceedings whlch In ihe Lender's opinlon operate to prevent the '
<br /> enforcement o1 the Ilen; or (c) secures from the holder of the Ilen an egreement satlstactory to Lender aubordlnating the�en to
<br />_ r� thls Sacurity Inotrument. If Lander detortnines that eny part of the Property Is subJect to e Ilen whlch mey etteln priorlty over thls __
<br /> _ � Security Inatrument, Lender may give Bortower a notice Identllying the Ilen. Borrower shall sstisty the Ilon or take one or more of '
<br /> � the aotlons set torth above wlthln 10 days of the gfving oi notice.
<br /> '�' 5. Hazard or Property Insurance.Borrower shall keep the Improvements now existing or hereafter erected on the � _
<br /> Property Insured agalnst loss by iire, hazards Induded within the term 'extended coverage" and any other hazards, Including
<br /> floods or flooding,tor whlch Lender requlres insurence. Thls Insurence shall be malntalned In the emounts end tor the periods -_
<br /> -�� that Lender requlres. The Insurence carrter providing the Insurance shall be chosen by Borrower subJect to Lender's epproval
<br /> � ^�•� whlch shell not be unreasonably withheld. Ii Borrower falls to malntaln covorege doscribed above, Lender may, at Lender's
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<br /> option, obtaln coverage to prolect lender's rights In the Property N accordance with paragreph 7.
<br /> All Insurance policles and renewals shall be acceptable to Lender and shall Include e standard mortgage clause. Lender -_
<br /> � shall have the dght to hold the policies and renewals. If Lender requlres, Borrower shell promptly givo to Lender all recelpts of '+:;
<br /> � peld premlums and renewal notices. In the event of loss, Bortower sheli glve prompt notice to the Insurance carrier and Lender.
<br /> I Lender may make proot of ioss If not made promptly by Borrower.
<br />- 1 Unless Lender and 8orrower otherwlse agree In wdting, Insurence proceeds shall be npplled to restoratlon or repalr of the
<br /> � Proporry damaged, ff the restoratfon or repair Is economlcnlly feasible end Lender's security Is not lessened. It the restoratlon or ,
<br /> I. repair is not economically feasl'oie or Lender's security would be lessened,the Insurance proceeds shall be applled to the sums
<br /> � secured by this Security Instrumenl whether or not then due, with any excoss pald to Borrower. N Borrower abandons the
<br /> ' Property, or does not answer within 30 days a notice trom Lender that the insurance carrier hns oHared to settle a claim, then
<br /> Lender may collect the insurance proceeds. Lender mny use the proceeds to repuir or restore the Property or to puy sums
<br /> � securod by thls Securfty Instrument,whether or not then due. The 30-day perlod will begin when the notico Is given.
<br /> � Unless Lender and Bortower otherwise agree in writinp, any appllcation of proceeds to principal shall not exlend or
<br /> - 1 postpone the due dato of the monthly payments reterred to In paragrephs 1 and 2 or chengo tho emount ol the payments. If
<br /> ' under paragraph 21 the Property is acqufred by Lender, Borrower's right to any insurance policlos ond proce�ds resulting from
<br /> damage to the Property prior lo the acqulsftlon shall pass to Lender to ihe extent ot the sums by this Security Inslrument
<br /> Immedietely prior to the acqulslllon. I
<br /> . a []�nun�nr.v. P�aaarvatien. Malntpnancp and Protoction of the Pronertv: Borrower's LOalt l. ..
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<br /> Applieation; L88SehOlds. Barrower shall occupy. estahlish,ond use the Property es Horrower's principal residence within
<br /> sixry days aflar the executlon of lhts Security Instrument ond shail continue to occupy the Property us Borrower's principal
<br /> _ resldence lor nt least one year aiter the date ot occupancy, unless Lender othenvlse egrees in writing, whfcli consent shell not �
<br /> be unreasonnbly withheld. or unless extenuating clrCUmstances exisl which nre beyond Borrower's conirol. Borrower shall not
<br /> destroy, demage or Impnlr the Property. allow tho Property to datenorale, or commit wasto on tho Properly. B�rrower shaA be In
<br /> default ff eny forlellure acllon or procaeding, whother clvil or criminal,Is begun that In Lender's good talth jud�ment could result
<br /> = in lorleitura of th�t Property or otherwise materialiy Impalr the lien created by this Security Instrument or Lender's security fnleresl. I
<br /> _ F1AG.Lh1G (1N7) �'.�U�• 7.•� :� �� ,��� i
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