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<br /> � '��'t`� ' � TOOETHER WITH aY!hs Imprpwrnenta now 0� hHMRlf lf6Cted on the pro�erty, and all easemente, Qppurtenonces, and
<br /> � . :i.. ibclures now or herqRer� part of ths property.All rep4csm�nts and addklons eh�ll alsa be coveied by this Securfty Instrument. �
<br /> AY of the forpohp le rqllrrad to fn this SacurRy Instrurtwnt as the'Property." -
<br /> � , QORROWER COV�NANT9 tnN Borrow�r Is lewluly seized af ths eststa hereby conveyed and has the ripht to prant end
<br /> � convey th• Prop�rty and lh�t th� Prop�rty Is un�ncumbK�d, �xapt for ancumbrancta of rscord. Borrow�r wnrr�nta end wfll
<br /> . WNnd pw�w�Hy th�tkb to th�Proputy�palnet�II clakne and d�m�nds,eubJaot to any encumbrances of record.
<br /> ' THIS SECURITY IN51'RUMENT combfnse unHorm covenante for natbnal use and non•unNorm covenents with Ilmited
<br /> �'� , vuintbn� 6y Jur{sd�tbn lo conatltut�� unMortn acurky h6trumsnt covsrinp re�l prop�rty.
<br /> UNIFOW�A COVENANTS. Borrowe��nd L�nder cown�nt�nd�prxe as folbws:
<br /> . 7. Payment oi Principal and IRt�rest; Prepaymcnt end Late Cherpea. Borrower shell promplty pay whon -
<br /> ' • , � dw th�princlp4l o}�nd ht�rsst on ths dWt wldsncad by the Note and any prepayment nnd late charpes due under the Nota.
<br /> Z. F1111d• for Taxes end InAUrance. SubJ�Ct to applk�bb Inw or to a wrRten wBNer by Lender, Borrower sh411 pay
<br /> - -►'�y."�• to Lender on tha day monthfy pnyments ue due under the Note,untll the Note is paid h�full, a sum ("Funds") tor: (e) yearly
<br /> �•�'� teu�s ond laaesaments whbh mey Qttaln prlorRy over this SscurRy Inatrument as u Ifen on the Property; (b) yeary leasehold
<br /> ',� - p�ymenta or pround rente on the Property, M any; (o)yeary hazard or property insurence premiums; (d)yearry flood Insurance
<br /> .� premiums, N eny; (e)yeary mortpape hsurance premfums, ff eny; end (()any sums payable by Borrower to Lender In accordance
<br /> wah the provisions of pnreflreph 8, In lieu of the payment ot mongage Insurance promiums. These items are cailed "Escrow
<br /> . Items.' Lender may, at any time, collect end hokl Funds in en amount not to exceed the maximum amount a lender for e
<br /> � ',.� Taderaly relnted mortpafle ban may requYe tor Borrowers escrow eccount under the federal Fleal Eetate Settlemenl Procedures
<br /> Acl of 1974 Qs amended lrom tYne to tkne, 12 U.S.C. �2601 et seq. ("RESF�A"), unfess another law that applks to the Funds
<br /> ,,.t,.' : sNs a lesser amount. II so, LYndar rt►ay, st �ny tlme,colbct and hold Funds h en amount not to excesd the lesser nm�unt.
<br /> - .: '� l�nder may estlmete the emount ot Funds due on the basis of current deta and reasoneble estknetes of expendkures of future
<br />__ Escrow Items or otherwise In accordance wfth epplfcabl9 law.
<br /> ' • The Funds shall be held In fln instRution whose deposks are insured by e federal agency, instrumentality, or entfty (includhg
<br /> • Lender, M Lender Is such an Instftutlon) or in eny Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow
<br /> �,` ' Items. Lender may not cherge Borrower for holding and appylnp the Funds, ennually analyzhp the escrow accounl,or verftying
<br /> �Y . • th1 EsCrow Items, unless Lender pays Borrower interest on the Funds and appl�eble law permits Lender to make such a
<br /> �� � cfurpe. Howevcx, Lender may requke Borrower to pay a one•tfine charpe for an hdependent reel o;:tate tax reportlnp serv�e
<br /> _ ,_'� �' usM by Lenden c �onnectlon wNh thls loen, unM►ss appifcable law provides othervvise. Unless on epreement is made or
<br /> appllcabl� yw requkes Interest to be pakJ, Lender shall not be raqukad to pay Bonowsr eny interest or swminpa on the Funds.
<br />_ •• Barower and Lender may apree In wrkhp, howover, that Inter9st shall be pald on the Funds. Lendar shall pNs to Borrower,
<br /> - %< f' wlhout charp�, an �nnuU accountinp of thu Funds, showing credRS and debRs to the Funds and Ihe purpase for wh�h e�ch
<br /> -,;,, :,�, . debR to the Funds was mado. The Funds sre pledqed es addkionel securky for ell sums secursd by the Security Instrument.
<br /> •• • If ihe Funds held by Lender exceed the smounts permitted to be held by applfcable law, Lender sh�M account to Borcower
<br /> tor the excess Funds fn occordence wRh the requlrements of appl�able lew. It the emount of the Funds held by Under at eny
<br />- tYne is not suHblent to p4y the Escrow Items when due, Lender mny so notiy Horrawer In wrRlnp,end, In such c�se Borrower
<br /> , ehcll p�y to Lender the emount necessary to make up the daf�fency. Borrower shall make up the daf�lency h no more than
<br /> � twehre monthy payrrNnts,at Lenders sole discretbn.
<br /> . < �. ,x' - Upon p�ymsnt h tuN ot e1 sums ascured py tnis 3scurity insirurtwni, Lender anaii promptiy reiund tu 8onuww d�iy Fwius
<br /> -'� ' '� hNd by Lend�r. If, under psraQreph 21,Lender shall �cquke or soll the Proparty, Lender, prbr to ths acyulakbn or s�b of the
<br />- � Property, sh�N appiy any Funds held by Lender at the tMe of acqulsRbn �r sele as s credk ayainst the sums secured by this
<br /> ---��'-f,+',,,'. S�curky Inntrument.
<br />:_�' ' 3. Appllaation of PeymenU. Unless eppliceble law provides otherwlse, aM payment6 receNed by Lender under
<br /> Y t;Yy'"�t, . puagrephs 1 and 2 shal be epplled: fkst, to eny prepAyment cherpes due under the Note; second, to amounts payable under
<br /> �ti;r"j�,6".
<br /> pvapreph 2;lhird,to i�terest due; fourth,to pnc��pal due; end last,to eny late cherpes due under the Note.
<br /> �`�•Sr�,,,L,• 4. ChAI'��i; Ltens. Bonower shall pay all texes, assessme��ts, Chsrpes, fines and knposRbns ettributeb{e to the
<br />_�.�ft':• PropeAy whiCh may attain priority ovor thls Securky instrument, and leasehcld payments or ground rents, H any. Borrower shall
<br />___ .,�. p�y these ohlipatbns in the menner provided in pflrap�aph 2, or k not pald h that menner, Borrower shall pay Ihwn on tims
<br /> - ��"w dtectly to the persnn owed p�ymenG Borcowx shall prompty fumish ro Lender all not�ea of smounte ro b� pald und�r thh
<br /> '_�.t"'. ,.
<br />---�; . ,-, .., puapnph. If Borrower makes these payments dfrectty, Borrower shell prompty fumish to Lender recefpts evidencinp the
<br /> =�i.,''�t�'c��l p�yments.
<br />- ��-,�� BorrowK shall promptly discharpe eny Iien whbh h4s prbrity over this SecurRy Instrument unless Borcower (i) aprees in
<br /> Y_�;�_��:�• writhp to the payment al the oblfpstbn securod by the Iien h a manner acceptabb to Le�ider; (b) contests h Qood f�Rh the
<br /> -.--`����;� I4n by, or defends apainst enlorcement ot the Ifen fn,lepal proceedinps whbh in ths Lender's ophlon qperete to prevent the
<br /> •� enlorc�nent of the Ilen; or(c)sacures hom the holder of tha Ilen nn ayreernent 6atlstaCtory to Lender subordin4tk�Q tha Ilen to
<br /> - =��°=,�,�,-,��� thb Securky Instrument.If Lender detsrmhes that eny pirt ol the Property Is subject to a Iien whlCh may attaln prbrky ovor fhis
<br />—=j�r°--� S�curNy Instrument, Lender may pHe Bortowar a notice klentMyfnp the Iien. Bortower shall satlsfy the Ifen or teke one or more of
<br />__.��Nir•. the aclbns set forth above wKhln 10 days of tha qNinp of natbe.
<br />-�"'"""'`�%' S. Heizerd or Property Insurance. Borrower shall keep the knprovements now exlstiny or hereafter erected on the
<br /> r -3��_:.
<br /> ���-;.•�•: Property Insured aflehst loss by fire, hazerds hch,ded wRhin the term "extended coverafle" and eny other hazerds, Includhp
<br />-� 7_ y°' fbods or fbodfnp, for wh�h Lender requkes hsurance. Thls InsuranCe shall be makttainod fn the emounts and for the perbds
<br /> �•�`�� thlt Lender requlres. The insurance carrler providhp the insurance shall be chosen by Bortower subJect to Lender's approvel
<br /> .,_ .,•.�-,.
<br /> � �„- -' whiCh shall not be unroasonaby wkhhokl. II Borrower fells to mnlntah coverape descrbed above, Lender may,at Lenders
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<br /> ,,�, . .. aptbn,obtain coverape to prolect Lenders rfphts In the Property in accordar+ce wNh parapraph 7.
<br /> _;-r,ir � � , qll fnsuronce pollcke and renewals shall be accoptabk to Lander �nd shall hclude o 6tondard mortpepe cmuse. Lender
<br />-����""", .' � shdf h�ve the rpht to hold the polbles and renewals, It Lender requkes, dorrower ShaM promptly pNe to Lender oll recefpts of
<br />- "" ;';� �• p�VJ premlums and renewa! notfces. In the avent of loss, Borcower shell qive prompt notfco to the insurance carrler nnd Lendsr.
<br /> ' Lender may make proof of lass M not msde promptly by Bonower.
<br /> � Unless Lender end Borrower otherwise aqree in wrdinp, insurance proceeds shell be appibd to restoration or repak of the
<br /> ' � Property demaged, if the restoratlon or repak is econombelry teaslbl� end Lender's securRy Is not lessened. If the restoratian or
<br /> • } repair is not econom�alh feasible or Lender's security would be lessened, the Insurance proceeds shall be applied to the sums
<br /> . 4� seCUred by lhis Securfty Instrument, whether or not then due, wRh eny excess pald to Borrower. If Borrower abandons the =
<br /> • Property, or does not ancwor withfn 30 days a notbe�rom Lender that the ineurence carrinr has oHered to settle e claMn, then
<br /> • Lender may collect the hsurance proceeds. Lender may use the proceeds to repaP or restore the Property or to pay sums �
<br /> ` � secured by thls Security Instrument,whether or not then due. The 30-dey perlod will begh when the notke is pHen. -
<br /> Unless Lender and BoROwer otherwise eyree in writhg, eny epplfcatlon of proceeds to pnc�fpal shall not extend or
<br /> _ 5 postpone the due date o1 the monthly payments referted to fn paregraphs 1 and 2 or change the amount of the payments. If
<br /> . under paraflraph 21 the Property Is ecquked by Lender, Burrowors ripht to any Insurance pol�fes and proceeds resuRhg from
<br /> -
<br /> � dunage to the Property prior ro the ecqulsRlon shall pnss to Londer to the extent of the sums by this SecurAy Instrument _
<br /> -" -- imned�atery pnor to tna ecquisrtron. _
<br /> 6. Occupency, Preservetfon, Meintenance and Protection of the Property; Borrower'a Loan -
<br /> ApPIICet1011; Leeaeholda, Borrower shall occupy,estnblish,and use the Property as Borrower's prinCipal residence withln _
<br /> ', shty days eker the executlon of this SeCUrity Instrument end shall contlnue to occupy the Property as Borrower's principal
<br /> res�dence lor at least one year eker the dste ot occupflncy,unless Lender otherwise agrpes fn writhg, which r,onsent shall not -
<br /> be unroasonebly withheld,or unless extenuating circumstances exist which are beyond Borrower'�control. Borrower shall not .-
<br /> destroy, demage or knpaP the Property, allow the Property to detedorate, or commR wasl9 on the Property. Borrower shell be in E
<br /> delault M any forteiture ection or proceed'ng, whether cNfl or crimhnl, is bogun thflt in Lender'S goud feith�udgment could result �
<br /> ' in lo►teiture ot the Property or othonvise materially knpeir the Iien created by this Securky Instrument or Lender's security interest.
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