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TOGETHER WTH ai1 :hs improverrants now or heresfter erecleci on the property, and aB easements, apourtenances, cnd
<br /> f&tures +�ow or hereafler a part ot,he property. Ad replscertients and edd�iorts shatl aiso be covered by this Security hzstrument.
<br /> Ait ot the foregohg is refcxred to v� this Security InsWment as the 'Property'
<br /> BORROWER CO�/ENANTS that Borrrn+� is lawisr9y seiaed o( the estete hereby co�veyed and has thEr right to grant and
<br /> convey the �Prcparty end that the Property is unertcumbered, exce�t for encumbrances u4 record. BoROawx wartsnts and wiN ,
<br /> defend generaEty the tRle to ths Property egainst aA cta'ms and dem�nds,subject to any encumbrence� of reccxd. -_
<br /> THIS SECUWTY INSTP.UMEl�ffT combines unNorm co�enants for natianal use and non-uniform covEnants �ith fmitsd •
<br /> variations by jurisdiction to constituta a unfiortn secur�y icistrument cover's�g r�l property. �
<br /> UNIFORIvi COVENAt3TS. Borrower end Lend9t cavenant and agree es tollows: •
<br /> 1. Rayment of �rin�ipal and Interest; Pee�ayment and Late Charges. s«roWer snaG i�rompcy Pay wne�,
<br /> due the prncipai of and krtsrest on Yhe debt evidsnced by the Note end any.Qrepayrt�:t and late charges dw�under the Note.
<br /> 2. Funds fo� Taxes and On�urence. sub�sct �o appwcub�e �aw-or co.a wrmsn waHer by Lender, BaTOwsr shaA pay
<br /> to Lender on the day monthly paymants are due under the Note, unt8 the Note is paid in tutl, a sum ('Funds') tor. (a) yea�ty �
<br /> taxes and assessments which may attain p�ior�y over this Security Instrument as a fien on the Property; (b) yaery leasehold �
<br /> payments or ground rents on the Propetty, If any; (c) yearty hazard ar proF.rty insurance premiums; (d) yearly fbod Insuranco �
<br /> premiums, if any; (e) yeary mortqage insurance premiums, if any; and (�any sums payabie by Borrower to Lender in accordance �
<br /> with the p:ovisions of paragra�sh 8, in fieu ot the payment of mo:tgeg insurance p�iums. �'hese �ems are calied 'Escrow C
<br /> Items." Landcx may, at any time, collect and hold Funds in an amount not to sxceec� the meximum nmount a ienJer for a �
<br /> tederatly related mortgage Soan may require tor BeROwers escrow accaunt under the fedaal Real Estate Settlemen: Procedures
<br /> Act ot 1974 as amendsd hom time ta time, 12 U.S.C.�2601 et seq. ("RESRA'), unl�ass another law that applies to ths FunGs ,
<br /> sets s lesser amount. If so, Lender may, af any time, coll�ect and hold Funds In an amou�i not to exCeed the lesser amaunt. �
<br /> Lender may estimate the amount o( Funds due on tha basis of Curtsnt data fln� rea5on;ble estinates ot e�cpendAures of future �
<br /> Escrow Items or oiherw'�.ce in accordance with app6cable law.
<br /> The Funds shatl be held h an Institution whose deposRs are fnsured by e federai agency, instrum�tallty, or entky (including
<br /> Lender, if Lender is such an insiRutan) or in any Faderel Home Loan Bank. Lender shall apply th9 Funds to pay the Escrow
<br /> ttoms. Lender may not charge Borroxer for hold�ng and 8pplying the Fi��ds, en�ualy anayzing the escrow account, or varilying
<br /> the Escrow items, un!ess Lende► peys Bortower intsrest on the Funds end appAcable lew p�rtnks Ler+der te :nake suCh a
<br /> charge. Ho�vevt3r, Le�der may requte Borrower to pay e one-t'vne charpe tor an fndopendent reet estate tax reporting service
<br /> used by Lender in connecUon wkh thfs ban, unless applicable taw prrnfdes oth�vise. Unless an agrt3ement Is mede or
<br /> aCp:icable 1aw requires interest to be paid, Lender sha11 �ot be re.�uired to pay BoROwer any interest or eamfngs on the Funds.
<br /> B�rower and Lendet may agree in wr�ting, howaver, that tnterest shau be paid o� the Funds. Lertider shall give to Sorrower,
<br /> without charge, an annual accounting ot the Funds, showin� crsdits arsd debRs to the Funds and lhe purpose tor which each
<br /> debit to the Funds was made. The Funds are pledged as add'Rional security tor atl sums secured by the Security Instrument.
<br /> If the Funds held by Lender axceed the emounts pertnitted to be held by appiicable faw, Lender shatl eccount to BoROwer
<br /> for the excess Funds in accordance with the requFemenC oF appiicabfe 1aw. If the amou�t of ihe Funds held by Le�der at any
<br /> time is not svN'�:ient to pay the Escrow !tems whe� due, Le�der may so notify Borroyver tn writine, and, ln such case Borrower
<br /> shall pay to Lender the amount necessary to ma.te up the deficiency. BortoM� shap mafce up the de!iciency ln no mare than
<br /> twelve monthy payments, at Lendsr's sofe dfscretbn.
<br /> Upon payrtient in iv6 oi aN sums secured by thEs SacurRy lnstrument, Lender sheR prompty refund to Borcower any Funds
<br /> he�d by Lander. If, under paragraph 21, Lender shatl acquv�e or se8 ;7�e Property, Lender, prtor 2o the acqukkbn or sale of the
<br /> Property, shall apply any Furtds hetd by Lender at the tirtw of acquisRion or sale as a credk aganst the sums Secured by this
<br /> Security Instrument.
<br /> 3. Application of Payrt�ents. Unless appfiCable law prcvides otherwise, ap payrne�ts received by Lender under
<br /> paragraahs / and 2 shali be appfied: fist, to any prepsym�t charges due under�the Note; seeond, to amaunts payabls under
<br /> paragraph 2; thcd, to Interest due; fourth, to principal due;•and isst, to any lete charyes due under the Note.
<br /> 4. Ch8fg83; LI�n8. Bcrrower shaU pay eq taxes, assessments, charges, fnes and impositions attrbutabla to the
<br /> Property wh�h may attain prbrity over this Security Instrument, and IeaSehold payments or ground rents, d any. Borrower shatl
<br /> pay thesa obligatbns in the manner providad 'n parag►aph 2, or i( not paid in lha2 manner, Borrower shell pay th�n on time
<br /> dkecty to the person owed payrtsent. Borrower shap promptly fumish to Lender aA not�es o/amounts to be pald under this
<br /> paragraph. If Borrower makes these payments drecty, Bor,ower shaq prompty tumfsh to Lender recelpts evldencing the
<br /> payments.
<br /> Bortower shall promptly discherge any C�en which has priorRy over this Security InsUument unless Borrower: (a) egreea in
<br /> writing ta the paymerzt of the obl'igation secured by the lien in e manner acceptable to Len�; (b) contests h good feRh the
<br /> I':sn by, or datends against entoresment ot the I'ien in, tegal prxeod'nqs which in th0 Lender's opfnion opernte to prevent the
<br /> enir>rcement of the lien; or (c) secures from the hok'..er of the lien nn egreement safisfactory to Lender subnrdinethg the lien to
<br /> this Security Instrument. If Lender detertnines that any part ot the Property Ls subject to a 1'e� which may attain priority over this
<br /> Security Instrumertt, Lender may give BoROwef a notice identiying the Nen. Elorrower shap satisly the lien or tnke one or more of
<br /> the actans set torth above within 10 days of the giving of notice.
<br /> 5. Hazard or Property Insurance. eorrowe� shan keep tne improvemen►s now ex�st�ng or ne�eatter erec�ed on the
<br /> Property insured egaRSt bss by fire, hazards inctuded within tha term "extended coverape" and any other hazards, fnclud'ng
<br /> floods or floodi�g, for which L�nder requires insurance. Thts hsurance shall be mahtehed In the amounts and tor the perbds
<br /> that l.ender requires. 7he Insurance carrfer providing the Insurance sheq be chosen by 8ortower subJect to Lender's epproval
<br /> whkh shall not be unreasonaby wkhhetd. If Bortower falls to malnteh coverago descrbed ebove, Lender may, at Lender's
<br /> option, obtain coverage to p!ntect!ender's rghts in the PropartY r accordance wRh paregranh 7. ,
<br /> AA insuranca po!'�ies and rsnewels shaN be acceQtable to Lender and shaB hclude a standard martgage cause. Lender .
<br /> shall have the r'ght to hold ths polfcies an�renewais. If Lender requ'res, Borrower shatl promptly give to Lender,aA receipts of
<br /> Faid premiums and renewal noC�ces. In the event of loss, Borrower shep gi+re prompt notice to the hsurance cartier and Lender. �
<br /> Lsrder may make pfaof of bss d�ot made promptly by Borrovrer.
<br /> Unless Lender a�d 8orrower othe�wise ag� in wr��g, insurance proceeds shaA Ue spplied to resroratan or repair oi the
<br /> - Property damaged, if the resroretan or repaY is economicaHy feasible and Lenders security fs not lessened. Ii the restoretion or
<br /> repair is not eeconomicafly feas�ble or Lenders securi�ty would be lessened, the insurance proceeds sha0 be applied to the sums
<br /> secured by this Secur�y Instrument, wheth� or not then due, wRh any excess pald to Borrower. It Borrower abandons the
<br /> Property, or doss not answer within 30 days a noYce i�om Lender 2hai the hsurance Carrfer has oHered to settb a clakn, then
<br /> Lende� m�y col�ct the insurance pro�eeds. �snder may use the proc�ds to repair or restore the Froperty or to pay sums
<br /> secured by thfs Secur'ity Instrument,whether or not then due. The 30-day perfod wip begin when the notae is gimn.
<br /> llnless Lender and Borrower otherwise agree fn wrking, any application ot proceeds to principal shaA not extend or
<br /> postpone the due date of the mo�thly payments referred to in paragraFhs ! and 2 or change the amount ot 1he payments. If
<br /> vnder paragraph 21 the Property is acquked by Lender, Borrowe�s right to any tnsurance pol'icfes snd proceeds resufting hnm
<br /> damage to the Property prbr to the acqs!isition shaA pass 4o Lender to the extent of the sums by thts Security Instrument
<br /> immed'+atefy pri�r to tNe 3tqutskion.
<br /> 6. Occupancy, Preservatia�, ►�1aEntena���e and Protsction of the Property; Borrower's Loan
<br /> Appilcation; Leaseholds. eonowe� snan xcupy, est�b�ish, and use the Property as Borrower's prfncipal residence within
<br /> saty days after the execu;ion of this Securily Instrument and shaU conthue to occupy the ProQerty as Borrowers princlpal
<br /> resi�erce for at feast one yeer nfter the date of occupancy, unless Lender otherwise aprees h wrkhg, which cons�t shan not
<br /> be unregsonably w�hhekl, or unless extenuating ckcumstances axtst whkh are beyand Borrower's conhol. 9orrower shaA not
<br /> deahoy, damage or impalr the Property, eAow the Property to deterarete, or commlt waste on the Property. Bonower shBN be In
<br /> 3 delauk H any IoAeR�re ectbn or procegdhg, whelher clvN pr crlminal, fs bepun that tn Lender's good fakh judgment could resuR
<br /> h for'efture ol the Property or otherwise materiepy tnpat t�`e lien Created by thfs SecurAy Instrument nr Lendei's socur!ty hterest.
<br /> I?.� �' F1916.LMQ(10/9E) Piq� Y ol 5 �J`y� ���-{J
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