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<br /> -=-= = . 99-����s� � �i�
<br /> �, � • OWER COVENAN'I'S th�t Borrower is lawfully selsed of the estate hereby conveyed nnd h�s the riBht to ��"h:.
<br /> BORR
<br /> grant und convey the Peoperty uad tla�c the Property is uaencumbere�. except for encumbra�xcea of record. Borrower ,��:
<br /> wurrunut�utd�villdefead geaeraily the tide to the Property aBaiast dl claftas and demaads. subje�t to eny encumbrances __
<br /> . � of record. _.�:''�
<br /> .. THIS SLCURITY 1NSTRUMENT combinea uniforra coveaama for nattonal use and aon-uniform wvenancs with _
<br /> limited veriadons by)uRsdictloa to constitute a uaiform securley fasuument covedaII renl property. �I �
<br /> E-=-:
<br /> °' � UNIFORM COVENANTS. Borrower aad L.ender covenaat aad o�ree as followa: _..__
<br /> �-,_, I. pay�t of pr�cIpal��� e�d Ia4e �arge, Borrower shtll pny when due the principal of,und interest �.�-_
<br />" �""'�"r'�� on,the debt evldeaced by the Note aad late charges due uader the Note. ~
<br /> o4Ta�►.Insutaaoe. and Other C�� Borrower shall iaclude in each monthly paYment,
<br /> �-��.•"••`'�� 2. Momhly Faynnent =-
<br /> � ° � 4 to�ether wlth the prIneipal aad interest as set forth in the Note and any late charges. a sum for (a) taaes and agecial _ _
<br /> h
<br /> : � assess�meats levied or w be levied against the Property. tb) lqsedmld payaiente or ground rents on t�e PropertY. and .
<br /> � (c) Premiums for insuraace required under paragraph 4. ln. �aY year in which the L.ender must pay a mortgage --
<br /> ry' � ��ce pruniwn to the Scccetary of Housing and Urban Development ("Serretary").or ia any yeax in which such
<br /> ¢ premiwn would have he�n required if Lender still.held the 3ecurity Insuvtaent. each mflntlily payment shaU also
<br /> includc either: (i)a sum for the annnal cnortgage insuraace prernfum to be paid by L.ender w the Se�reu�ry+,or(ii)a
<br /> _ '.' � . monthly chatge lnstead of a mortgage ineurance premium if this Securlty Instnuaent is held by the SecxectnrY, ia a
<br /> reasoraabie am�unt to be detens�ined by the Secretary. Except for the monthly charge by the Sec�etary. these items
<br /> m
<br /> ere called "Fscrow Items"aad the s�ums paid to ixndcr are called"&crow Funds." ate amount nat to exce�d the
<br /> � Lender may,at any time�c:QUect aad hold a�nounts for Esccow Items iu an ag�reg
<br /> maaimum an►ount that may be required for Eorrower's escrow aaount under che Real Estate Settlement Procedures m�_�_
<br />-'`� '�''���" Act of 19'T4,12 U.S.C.§2601�t sea.sad implementing re�,ntlaSfom, 24 CFR Paxt 3500,as they may be aaaended from
<br />:4�::_,,..e- • ;� tiaae to time("RESPA").excePt thxt We cushion or reservs�itted by RESPA for unanticipated disburse�nents or -
<br /> �^� disbursem[ents before the Borrower's pt4yrnents are available in thc s�cwunt u�aY not be based on amounts due for the -
<br /> �,;�.�_,_ r
<br /> -U�� mortgage insurance Premiwn.
<br />��"`- ' . If ihe amouats held by I.eader for Escrow Itefas exceed the amounte Permitced w be held by RESPA,Y.ender shall
<br />=�:'��r,�� • accouat to Borrower for the raccess fuads as re�iuired bY R�SPA. If ihe amounts of ti�nds held by L�eader at any tlme
<br />- , •�'::'a�' tY?; are aot eufflcient to pay the Escrow �tems when due�I.eader azay aodfy the Borrower and require Borrower to make
<br /> ` zj �'n'� � nfxl h RESPA.
<br /> ug iht �2tusisg� ss pP�ni--- Y
<br /> -,°,,�,�4, � . The Escrow Fe�nds aie pledged as additional ser�uity for alg sums secured by tt�is�ecurity tnsa�ument. u&�rea�cr ..._
<br />-.Y�'.-h.�� —.
<br /> tenders to Leader the fuU paymeat of all such sums,Borcower'�account sh�ll be credited wIth the balance retnaining .K_,,:
<br /> �e for all installaieat items(a).(b),aad(c)and any mortgage iasasance premimn i�stallment that Leuder has not beoome -
<br /> ---�_�:,�ry obligated to pay to the SecretarY.and Leader shaU pmmptly r�4wd any excess funds to Barrower. Iam�ediately pr�9r
<br /> ---°"�'-r�r�'� w a foreclosure sale of the Property vr its acquisidon by Lende�,Borrower's account shalI be a�edited with any balance .
<br />_-:�;���i remainiag for all iastallmenta for items (a). @).and(c).
<br />----_ �. E►pplL�tion of Paymeata. A11 PaYments wider paragrap6s i and 2 shall be applied by Leader as follows:
<br />-�.,�'��
<br />--. . �r �,to the mortgage insurance Prem�wn t°be paid by I.ender to the Secretary or to the monthly charge by the
<br /> "� �;�:�`��'�. Sep'etaiY instead of ttae�aont6ly mortgage insurance premivai.
<br /> -.�-,. r:,, SECOND, w any taxes,epeci�l ase�eats, leasehold pay�nents or ground reats,aad fire.tlood and o�er ha�ard
<br /> --...�....�;:��:,t
<br /> �__� , insurance premiums. �s reQ�ir�: -
<br /> -.--_- 7'�iI�D. to interest due under the Note: .'.
<br /> _—�--- FQURTH, to amot�zation of We principal of the Note; and :°`-
<br /> s,, 1�F1'I�,to late charges d�ae undsr the Note.
<br /> ---- - --�";� 4. Fh�Piood sod� H� Lflsunmoe. Bomuwet �luil insure all impmve�►enta on the Pmpexty. whether
<br /> -- now ia existence or subsequeasly erected, against anY hazacds. asualdes� and coatingenoies� includiag fire.for whfch
<br /> --- �d�, �� ��. .� ��ce s4��11 be aisintained in the amounts and for the periods that Lender
<br /> � requices. Borrower shall also insur+e all imProveinents on the Property, whether aow ia existeua� or subsequendy -
<br /> - _s.�� ecected, esai+►bt Iu�by flc-od� to tha�xt?nt r�u�rn�! hy t?+e cerretp_ry Att in,��r:�naP sha11 be car�ie�v�ith eompanies
<br /> -� _-�'�;�:;�� approved by Leader. 1lie lnsuraac$ poucies anu any�ewats a6a3I�uciu uy L�d"��ha2?�'lne1� trr.za neyebiw �
<br /> —= clauses ia favor of�and ia a form acceptable W.Lender.
<br /> ------ In the event of loss.�oirower aball give Le.�der immedfate not�ce by mail. I.eader may make pxoof of loss if aot
<br /> -- - — - made promptly by Borrower. Each insurance go�any ooacerned is hereby authorIzed and directed to malce payment
<br /> _�-—�'N;�` for such loss directly w I,eader. iastead of to Bomower and ro Leader joindy. All or aay part of the insurance
<br /> - _;;�:�zi;;tiry�� Proc�s maY be aPPlied by L.ender, at its option, either (a)to il�e reduction of the indebtedness under the Note aad
<br /> _�-"�_'�a this SecurltY Instrument, first w any delinqueat a�ounte applied in the order ia pare�h 3.aad then to PnePaYmeat
<br />-- '--- -,-:��� of pr�ncipai. or (b) ta the restorstion or repuir of the damaged ProPertY. Any apPl�catfon of the proceeds to the _
<br /> _ _��� princtpal sLall aot extend or postpoae the dua l�ate of the momhly paymente which are refemed w in paragruph 2.or
<br /> -i �.`d'w F S � -
<br /> `:-;.-�r..: . - chaage !hc�CttIIt of�,e-.h�y��ts. Any excess insurenoe ptooeeds ovet an amouut t+equhed t0 pay all ou & _
<br /> '•��-�-.�' :. i�Webtedaess under the Note and t�is Secudty Insuumeat sball be paid w the eatity legally emitled ttter�o. _
<br /> -_:',:�x''s�ti��,- —
<br /> _ • Ia the event of foreclasure of tbis Security Inst�ument or other transfer of dtle to the Property tLat exdn8uishes
<br /> i
<br /> -� .= the iadebtedaess, all right, tide and interest of Borrower in aad to insurance policies in force shNl pass w the _.
<br /> � -.._�:� pwcchaser. � � � � p�y; Bo�c�aw�et's Imaa Appl�On; -
<br /> c n�m�a�v_ P�mta�iun. 1NaiaL�mooe _,�,�
<br /> _ .° ----s--._ as Borrower`s rin ai iesiacac�wi.ui�,a,,..�.��o
<br /> '```:'" '=:�"' Le�seholds. Bosower shall oocupY,establish. aad use the Propecty P �P _
<br /> • �'`���� after the execudon of this Securlty Insm�ment (or within sixaydaYs of a later sale or uausfer of the P[aperty) and s6aU _
<br /> . � ..j wntiaue to oxupy the Eroperty as Borcower's prtacipal residence far�t least one year after the date of oxupancy. �
<br /> � unless Lendec deteimiaes thai '-�equir�nt wUl cause undue hatdship for Bocrower, or ualess extenuating .
<br /> ' ' _ � exlst which are beyond Borro�ver's oontrol. &otrower shaU notify Leader of any ea�tenuatlag F
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