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TpGETHcR WI7H aA the improvements now or hereafter erecte+i o� the prCperty, and ail &'tsements, appurtenances, and
<br /> f�c;ures now or hereaRer a paR of tho property. Atl replacements end add'Rbns shaN aiso+be cove�ed by lhis Security Instrument.
<br /> AA of tro tc�egaing is referred ta in this Security Inshvment as the "Propert�'
<br /> BG9AOWER COVENAN7S that 9orrower ts lawfuuy seizEd of tha estafe hereb1 conveyed and has the right to grant and
<br /> convey the Property ana fhat ths Property is unencumbered, excapt tor encumbrances of record. 8orrower wartants and will
<br /> defend generaly the tkle to the Property againat a8 c�aims and dartwnds, sub�ect to any encumbrences af record.
<br /> THI� SECURITY INSTRUMEhT combh�s unifortn covenents tor nationel use and non-uniform crnrenants w$h fimrod
<br /> variat�r.s by jurisdician to constrtute a unNorm security inshument covering reaf propeRy. •
<br /> UNIFORM COVFNAt�fTS. Bcrcawer and t_ender covenan4 and.agr[se as folbws:
<br /> 1. Payment ot Pr�ncipa! arsd Ir,terest; Prepayment and Lat� Charg�:s. �orrower snau prompcy pay wr,e�,
<br /> due the principal of and 'ntaest on the d'abt evidencad by th� Nete and any prepaymertt arrG late cherges due under the Note.
<br /> 2. Funds for Taxes and Inaurance. Sub�ec� � •ppt�cabre �aw or to a wr�tten wawer by �ender, Borrow� shall pay
<br /> to Lsndar on the day monthty payrtr.rnts are due undef th� Nots, uniR the Note is paid in (ull, a sum ("Funds") for. (a) yeary
<br /> taxes and assassments which me� attain prior.ry over this Security instrumentaas a 1'ier� on the Property; (b) yearty leasehold
<br /> payments or ground rents on ih!t Preperty, A eny; (c) yearty hazard or propeRy insuranCe premams; (od) yearN faod insurance
<br /> premiums, if any; (e) yeary mortgage insurance premiu�ns, it any; a�d (�}any sums payabie by BoROwer to Lender r� r+r.cordance
<br /> wdh the provisions ot paraQraGh 8, � I'�eu of ?he payment of mortgags hsura��e premiums. ThEiss i�ems ars ca�3d "Escrow
<br /> Items." Lender may, at any time, coilect and hold Funds in an arnount no! to exceed the mexbnum amount a t mder for a
<br /> federal,y related mortgag� loan may requia for Sorrower's escrow account under the tederal Rpal Esiate Sattlemenl Procedures
<br /> Act of 1974 as smende.d from lime to time, 12 U.S.C.�2601 et seq. ("RESPA"), unless another law that applies to the Funds
<br /> sets a lesser amount. I} so, Lender may, at any tknfl, collect and hoid Funds in an amount not to excaetf the lesser amount.
<br /> lender may estimata the amount of Funds due on the bnsis o( current date a�id reasonable esti+rsates ot e�enditutes of tuture
<br /> Escrow Itsms or otherwise in accordance wiih applicabfe law. �, • �
<br /> The Funds shall be hefd in an institution whosd deposiis are insur�d by a federat agency, hstrumentalfty, or entRy (�icluding � -
<br /> Lender, if lender is such an institution) or in any �Federal Home Loan Bank. Lender shali appiy the Funds to pay tne £scrow
<br /> I;ems. Lender may not charge Bortower tor holtJing and appiying the Funds, annuaily analyzing tne escrow account, or veMying
<br /> the Escrow ltems, unioss Lender pays Borrower i�1!&95t on the Funds and applicabb law pormRs Lender lo meke such a
<br /> charge. However, Lender may requke Borrower to �ay ;3 one�time ch�rge for an independent real estete tex reporting sarvice
<br /> used by Lender in conne�,tion wfth this loan, unle,s eppficable ttw provides otherwise. Unless an agreement is made ar �
<br /> app��cable law requires intorest to be paid, Lmder sheiti nvt be requEed to pay Borrower any interest or eamk�gs on the Funds. —�
<br /> Borrower and lender may agree in writing, however, that rterest sh8t� ba paid on tha Funds. Lender shail give to Borrower,
<br /> without charge, an ann�al accaunting ot the Fund�, showing credAs a�d deh�s to the Funds and the pu�ose for which each �
<br /> debit to the Funds was made. The Funds ara pledged as ��dditional sa;urity for all sums secured by the Security Instrument. �
<br /> If the Funds hefd by Lender exceed the amounts psrm�ittod to be held by applicable la�, Lender shall accou�t to Rorrower p
<br /> (or the excess Funds in accordance with the requkements ��f appi'icabG� iaw. it the amrunt of the Funcis held by Lender at any �
<br /> trcne is not suH'�ciont to pay the Escrow Iiems'when due, l.ender may ss� notily Borcower in wrking, and, in such case Borrower �
<br /> shall pay to Lsnder tha emount necsssary to make up the def'�ciency. �orrower shail make up the deficiency v� no more than �+
<br /> twelve monthly payments, at Lenders sole discrctt6on. r��,�
<br /> Upon payment n Pull of ail sums secured by this Securi�y Inslrun�ent, Lender shall prompth,� relund to BoROwer any Funds �� �
<br /> hekS by Lender. If, undar paragraph 21, Lender shall acquire or sell 1he Property, lender, pr'pr to the acqrAsAion or sale of the
<br /> Property, shal appFy any Funds held by Lender a; tne tme ot acqi:�,kion or sale as a credit agafr�st the s�vms secured by thK
<br /> SeCUrity instrument.
<br /> 3. Application of Payments. �n�ess app:icable law p°ovides otherwise, ail payme�ts receivec� by Lender under
<br /> paragraphs 1 and 2 shatl be appl'�ed: fast, fo eny prepayrr�nt r_ha-ges due under the Note; second, to amounts payable under
<br /> paagraph 2; third, to interest due; fourth, to princi�al due; and 4�st, to any Vate chargas d�e under the Note. �
<br /> C. Charges; Lien3. 8orrawer shall pay atl taxes, essessmont:;, charges, fnes aa3 impositfons attrbutsbl� to the
<br /> Property which may attain priorRy over thfs Srjcurihj Inshument, and leasetiold payrttsnts or ground rents, i! any. Borcorrer shall
<br /> pay thesa obli�aticns in the manner provided in paragraph 2, or if not paid in that manner, Bortower sh211 pa�� them on timg
<br /> directy to the person owed payment. Borrower shsq promptly fum�•h to Le�der all notices of amounts to be pgid under this
<br /> paregrr,�h. It Borrower makes 4Tsese paymsnts diectly, BorrowEV sh,�il prarnptty fumish to Lendbr rxe�ts evidenCing the
<br /> ,:ayment5.
<br /> Borrower shall promptly discharg2 any Iien whxh has priority ��ver thc; Security Instrument unless Borr�wer. (a} agrees in
<br /> writ�p to the paymertt of the obfgatbn secur�d by the i+en in a manner accEptable to Lender; (b) contests in go��d faRh the
<br /> lien by, or detends against entorcernent ot the lien in, iegal procead�gs which in the Lenchx's op�bn operate to prevent the
<br /> enforcement oi the !'ien; or (c) secures from the holder ot the.lien a�n flgreexs�ent satisfector}• !o Lender subordinating !he Iien t�
<br /> this Security lnstrument. It Lender determines that any part of !!�e Proi�erty �: subj�*.t to a lien wh�h may attnin priorRy over this
<br /> Secur'cty Insirument, Lender may give Borower a notiee ?dentifying the llen. Ftonower shall Satisfy ths lien or take one or more of
<br /> the actions set forth above within 10 days ol the giving ot nptice.
<br /> �. Ha�zard Of Property lnsurance. BorroM�er shall keep t,hd improe0ments i�aw existing or hereaker arected on the
<br /> Property �sured agahst loss by firs, hazsrds included w':thin the tenn "ex�e�ded coe�xa�e" and any othar hazards, including
<br /> fbods or fbading, tor which Lender requires insurance. This nsurance shal'I be maintalned in the amounts and fer the periods
<br /> that Lander requ'res. The insurance carcier providing the insurance shall be chosen by Bo:rower subject to Lender's approval
<br /> which shatl not be unrtiasonably withheld. N Borrower fails to maintetin coverage descr�.�ed above, Lender may, at Londars
<br /> optian, obtein coverage to protect Lende.'s rights in the Property in accordanc� wiEh paragrapt� 7.
<br /> Ali insurance pol'�cies and renewats shall be acceptabls to Lender s�nd shatf inc�de a siandard mortgage clausa. Lender �
<br />,_ shaU have the right to hold the poficies and renewals. If Lender reGuiras, Bo,rrower shsA promp;ly give to Lcnder aH receipts of
<br /> paid premlums and rgnewal notices. In the event ot kss, Borrower shail g4e �rompt notice io the �surance catrier and Lender.
<br /> Lender may make proof of loss ff not made prom�tly by Borrower.
<br /> Uniess Lender and Borrow�r otherwise agree :i writng, insurance pra;eecis shali be spplied to restoratio� or repak o4 the
<br /> Property damaged, if the restoretbn or repai is econ�micaify teasible flnd Lc:mdars security is not I�ssened. !f the restoration or
<br /> repair k not economicaly feas�le ar Lenders security woutd be IeSSenec:, the insursnce prxeeds shaG be applied to the sums
<br /> secured by this Securky Ins�ument, whether or not thz� due, wkh any exc:�ss pak� to Borrower. If BoROwer abandons the
<br /> Property, or does not answer within 30 days a r,ot;ce trom lender that the in�surance cartier hes OHBfBC l0 56KI8 8 C181R1, then
<br /> Lender may coilect the insurance proceeds. Le�aar may use the proceeds l'o repa'r or resiore the Property or to pay sums
<br /> secured by this Security Instrument, whethor�r not then due. The 30-day period wiH begln when the not�e is gMen.
<br /> Unless Lender and Borrower otherwtse agree in writing, any appl'�cation ot proceeds tu principal shall not entend oi
<br /> postpone the due date ot the monthy payments referred to tr� pnragraphs 1 and 2 or change the amount of the payments. If
<br /> unoer paragraph 2S the Property is acquired by Lender, Borrowe�s right to any insurance policies and procseds resuking from
<br /> damage ta the °ro-,ry prior to the acquisitbn �hali pass to Lender to the a.��ent of the sums by this Security Instrument
<br /> immediately prlor to the acquiskion.
<br /> 6. Occupancy, Preservation, Maintenance and Protection of �he �roperty; Borroaver's Loan
<br />� ARplication; Leas�halds. eo��ower shali occupy, establ�sh, end use the Property as Barrowers principal resk�ence wRhin
<br /> saty days eRar the executlon of this Security Insfi�ument and shatt continue to accupy the Property e� Boreowe?5;,pnc�ipal -
<br /> residence tor at ►east one year after the 3ate of occupancy, unless lender othenv�;e agraes in wrdng, which cc�sent �shell not
<br /> be unreefsonabiy wRhheid, or unless extenuathg cicumstAnces e�ctst whbh are beynnd Bo,�owers conhol. Borrower shaq not
<br /> desVoy, dametge or fmpair th� PropeRy, aCow the Property to deterbrate, or commR wasEe ai !he Property. 8orrower sheM be in
<br /> , de(ault if any Porleiture action or proceeding, whether civil or crimhal, is begun that in Lender's flood faRh Judyman� could resuh
<br />� h foAekure ot the Property or otherwise rnaterfatly impair the iien created by thi� Securky InsWrnent or LendePa securtty interest.
<br /> F�aie.�Mo�io!ae� Pay.z oi s
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