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<br />TOGETHER WITH d thfJ lmproVerr.enta now ell' h__fter ~ed on the property. .nd .. euer:'l<<1ts. appurtenances. .nd
<br />lIxtures now or hereafter a part of the property. AI r~cements lIftd adcllions shall abo be CO'I8'ed by thIS Securtty In.tNI'IW'lL.
<br />".II of the foregoing Is ref~ to In this Securtty Instrument.. the "Property."
<br />BORROWER COVENANTS that Borrow<<' Is lawIuIy. nIted of the es1ate hereby conveyed lIftd has the Itght to grPt .nd
<br />convff'/ the Property and that the Property Is unen~. exctpt for en~ l)f nrllOf'd. Bonower wanants and wtI
<br />defend generatf the tide to the Property aglllrtst .. clUM and denw\ds. subteet to ""f encumtnncea of l1lCtInS.
<br />THIS SECURITY lNSmUMENT comblnes unlform covenants for natIoNlI u.. Md non-unllorm ccwlMnts wtth hlted
<br />VlIriatIone by Jurisclctlon to consUWte a uniform ueurity Instrunleflt CO'lfIIlng reIl poperty.
<br />UNIFORM COVENANTS. Borrower and lender COVeMnt and agree as folows:
<br />1. Payment of Principal and Interest; Prepayment and Late Charge.. Borrower shall pfomptly pay when
<br />;jUe the princlpal of and Interest on the debt evldeneed by the Note and any prepayment. and late charges due under the Note.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by lender. Borrower shall pay
<br />to lender on the day monthly payments are due under the Note. un" the Note Is paid In fuI, . sum ("Funds") for. (a) yelIIfy
<br />taxes and assnsrnents which may attain . priority (Ner this SecurIty Instrument as a Ien on the Property; (b) yeerty leaaehold
<br />payments or ground rents on the Property, If any: (c) yearly ha%ard or property Insurance prenWun'ls: (d) yeerty tlood Instnnce
<br />premiums. If any: (e) yearty mortgage Insurance premiums. If any: and (I) any sums peyabIe by Bon'ower to lender In aceordllnce
<br />with the provisions of panlgraph 8, In leu of the payment of mortgage Insurance pretnlums. These Items are caIed .Escrow
<br />Items." lender may, at any time. coned and hold Funds In an amount not to exceed the maxInu'n amount a lender for a
<br />,~ related mortgage loan may require for BOlTOWer'. escrow account under the federal Rift! Estate Settlement Procedures
<br />Act of 1974 as amended from time to time, 12 U.S.C, g 2001 et seq. (.RESPA"), unless .nother law that apples to the Funds
<br />sets II lesser amount "so, lender ""'Y, pt'any tlme. coIect and hold Funds In an amount not to exceed the leaaer amount.
<br />lender may estimate the amount of Funds due on the basls of current data and l'eUONIbIe eatmates of expenclturea of future
<br />Escrow Items or otherwise In accordance wlth applicable law.
<br />The Funds shaft be hdd In an i1st1tUt1on whose deposits are Insured by a federtllageney. InstnJmentalty, or entity ,lndudk1g
<br />lender, If lender Is such an institution) or In any Fed..! Home loan Bank. lender shaD apply the Funds to pay the Escrow
<br />Items. lender may not charge Borrower for holding and ~plylng the Funds, annualy analyzing the ellcrow account. or vertfylng
<br />the Escrow Items. unless lender pays Borrower Interest Qn Ihe Funds and IIpplcabl, IlIw permits lender to make such a
<br />charge. However, lender may require Borrower to pay a one-time charge for an Independent real estate tax reporting servlce
<br />used by lender In connection with this loan, unl8l!s applcable law provides otherwise. Unless an agreement Is made or
<br />applicable law requires Interest to be paid, lender shan not be required to pay Borrower any Interest or earnings on the Funds,
<br />Borrower and lender may agree In writing. however, that Interest shan be paid on the Funds. lender shal rJve to Borrower,
<br />without charge, an annual accounting of the Funds, showing credits and debits to the Funds and the purpose for which each
<br />debit to the Funds was made. The Funds are pledged as additional aecurity for aA sums secured by the Security Inatrument.
<br />" the Funds held by lender exceed the amounts permitted to be held by applcable law, lender shan accounl to Borrower
<br />for the excess Funds In accordance with the requirements of appncable law. If the amount of the Funds held by lender at any
<br />time Is not sufficient to pay the Escrow Items when due, lender may so notify Borrower In writing, and, In such case Bon'OWUt'
<br />shan pay tu lender the amount necessary to make up the deficiency. Borrower sha. make up the deftcl8flcy In no more than
<br />twelve monthly paymenl~, at lender's sole discretion.
<br />Upon payment in fun of all sums secured by this Security Instrument, lender shan promptly refund to Borrower any Funds
<br />held by lender. If, under paragraph 21, Lender shan acquire or sell the Property, lender. prior to the acquisition or sale of tha
<br />Property, shall apply any Funds held by lender at the time of acquisition or sale as a credit against the lIums secured by this
<br />Security Instrument. .
<br />3. Application of Payments. Unless appncable law provides otherwise, all payments received by Lender under
<br />paragraphs 1 and 2 shan be applied: first, to any prepayment charges due under the Note: second, to amounts payable under
<br />paragraph 2: third, to Interest due; fourth, to principal due; and last. to any late charges due unde:- the Nole.
<br />4. Charges; Uens. Borrower shall pay an taxes. assessments, charges. fines and Impositions attributable to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, If any. BorrOWer shaD
<br />pay these obligations In the manner provided In paragraph 2, or If not paid In that manner, Borrower shaD pay them on time
<br />directty to the person owed payment. Borrower shan promptly furnish to lender a8 noUces of amounts to be paid under this
<br />paragraph. If Borrower makes these payments direetly. Borrower shaR promptly furnlah to lender receipts l!!YIdencing the
<br />payments.
<br />Borrower shan promptly discharge any Hen whlr.h hes priority over this Security InstnJment unle!::! Borrower: (8) agrees In
<br />wr.t~'1g to tM paytnenl 01 the obligation secured by the Hen In a manner acceptable to lender: (b) contests In good faith the
<br />Hen by. or de/ends against enforcement of the lien In, legal proceedings which In the lender's opinion operate to prevent the
<br />enforcement 01 the Den: or (c) secures from the holder of the 8en an agreement satisfactory to lender subordlnallng the Men 10
<br />this Security Instrument. If Lender d€Aermlnes that any part 01 the Property Is subject to a Pen which may attain priority ler this
<br />Security Instrument. lender may give Borrower a noUce Identifying the Den, Borrower sha. utlsfo, the len or take one or more of
<br />the actions set forth above within 10 days of the giving of notice.
<br />5. Hazard or Property InBurance. Borrower shal keep the Improvements now exlsllng or hereafter erected on the
<br />Propelty Insured rlil8inst loss by fire, hazards included within the term .extended coverage. and any other hazards, including
<br />floods or flooding, for which Lender requires insurance. This Insurance shan be maintained In tha amounts and for the periods
<br />that lender requires. The Insurance carrier providing the InsuranCfJ shan be chosen by Borrower subJect to lender's approval
<br />which shall not be unreasonably withheld. If Borrower lalls to maintain coverage described above, Lender may, at lender's
<br />option, obtain coverage to protect lender's rights In the Property In accordance with paragraph 7.
<br />All Insurance policies and renewals shan be acceptable to lender and shan Include a standard mortgage clause. Lender
<br />shall have the right to hold the policies and renewals, If Lender requires. Borrower shal promptly give to lender a8 receipts of
<br />paid premiums and renewal nollce!. In the event of loss, Borrower shan give prompt notice to the Insurance carrier and lender.
<br />Lender may mal"e proof of loss If not made promptly by Borrower.
<br />Unless lender and Borrower otherwise agree In writing, Innurance proceeds shan be applied to restoration or repair 01 lhe
<br />Property damaged, If the restorat'on or repair Is economlCi'~Y reaslble and lender's security Is not lessened, If the restoration or
<br />repair Is not economically feasible or Lender's security WO~\I be lessened, the Insurance proceeds shan be applied to the sumo
<br />secured by this Security Instrument. whether or not then due, with any exceaa paid to Borrowfit'. If BOlTower abandons the
<br />Property, or does not answer withIn 30 days a notice Irom lender that the Insurance carrier has offered to settl" a claim, then
<br />Lender may collect the Insurance proceeds. Lender may use the proceeds to repair or res lore the Property or 10 pay sums
<br />secured by thl~ Security Instrument. whether or not then due. The 30.day period will b.gln when Ihe nollo. Is glv.n.
<br />Unless Lender and Borrower otherwise agree in writing, any .ppllcatlon of prooeeds to principal .ha" not extent! or
<br />postpOnfl the due date 01 the monthly payments relerred 10 In paragraphs 1 and 2 or change the amount 01 the payments. If
<br />under paragraph 21 the Property Is acquired by lender, Borrower's right to any Insurance pollele" and proceeds reSUlting from
<br />damage to the Property prior to the acqUisition shall pass to lender to the extent 01 thl sums by this Seourlty. Instrument
<br />Immediately prior to the acquisition.
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<br />6. Occupancy, Preservation, Maintenance and Protectll:m of the Property; Borrower's loan
<br />Application; Leaseholds. Borrower shall or.cupy, establish, and use the Property as Borrower's principal residence within
<br />~Ixly days olter the exocutlon 01 this Security Instrument and shall continue to or-cupy the Property as Borrower'!'; principal
<br />residence for at least one year after the date 01 occupancy, unless lender otherwise agrees In writing, which consent shall not
<br />be unrea~onably wlthhe!d. or unless exhmuat1ng circumstances !7xlsl which lire beyond Borrower's control. Borrower shllll nut
<br />destroy, damage or Impair the Property. Allow the PrQperty to deteriorate, or commit waste on the Property Borrower shall be In
<br />default II any rorfelturp action or proceeding, whether civil or criminal, Is begun that In Lender', !lood faith Judgment could rf!sull
<br />in lorleiture or the Property or other.:--Ise materially Impair the lien created by this Security Instrument or Lender's security Interest.
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<br />9.1 ~':j' .LM
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