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....\;:;tl"'. TOGETHER WITH aD Ihe Improvements now or hereafter llfected on the prop<<ty, and aD tl8serrlenls, l\(lpul1enanCK, and fixtures now or hereafier a part of Ihe prop'.lrty. AM replacements and additions s.... also be covtll'ed by this Security InstnJmenl All of Ine foregoing Is referre<l to Irl this Security Instrument as thf: . Prop.r.y.' BORRO'NER COVENANTS thal Borrower Is IawfuHy seized cf the estate hereby conveyed and hilS the right to grant and eonvey Ih~ Property and II':.t the Property Is unenC'..llnbered, except for encumbrances of record. BOITowel" W8tT8llts and wit defef1d general!y Ihe title to the Prop~ against d clUns ar:1 demands. subj;6ct to MY eneumbl'an~ of record. Tl-iIS SECURITY INSTfIUMENT combines uniform covenants for national use and non-unlfQm'l covtaants with limited vllriationS by jurtsdiction to cOilsttt:..1e a uniform security Instrument covering real ~erty. UNIFORM COVENANTS. Borrower and Lender covenant and agree a~ folows: 1. Psyment of Principal and Interest; Prepayment and Late Charges. Borrower shan pl'omptly pay when due the principal of and Inlerest on the debt evidenced by the Note and any prepa:fTY1ent and late .:-harglts due under the r~ote. 2. Funds for Taxes and Insurance. Subject to appHcable law or to a wrttten waiver by Lender, Borrower shal pay 10 lender en the day monlhly payments are due under the Note, until the Nole Is paid In tul, a sum ('Furlda') for: (a) yearty laxes snd asse5$ml!l1t" which may attdln priority over this Security Instrument as a Ilen on the Pn'perty; (b) yearly leasehold payments Of groum': rents on the Property, If any; (c) yO!l8l1y hazard or property Insurance premiums; (d) Y'!4lrty flood Insurance premiums. If any; (e) yearly rMrtgage Insurance premiums, If any; and (f) any sums payable by Borrower to Lender 11'. accorddllCl!l with the provisions of pBnlgnlph e, In Ueu of the payment of mortgage Insurance pretr.AJm3. lhese Items are caned 'Escrow Items.' lender may, at any time, collect and hold Funds In an amount not to exceed thll maximum amount n lender for a feder1lRy related mortgage loan may require lor Borrower's osa-ow account under the federal Real Estate $ettlement ProcedUres Act of 1974 as amended from time to time. 12 V.S.C. g 2601 et seq. ("RESPA"). unless another law that apples to the Funds sets a lesser amcunl If so, Lender may. at any time, conect and hold Funds In an. amount not to exceed the IesSllf amounl Lender may estimate the amount of Funds due on the basis 01 current data and reuonable estimates of t)q)endtJres of Mure Escrow Items or otherwise in accordanclt with appUcable law. The Funds shali be held In an institution whose deposits are In!urnd by a federal agene. ,:1strumentalty, or entity (including Lender, If lender Is such an institutIon) or In any Federal Home Loan Bank. lender shal apply the Funds to pay the Escrow Items. lender may not cnsrge Borrower for holding and applying the Funds, annually analyzing the esC:O'W account, or verffylng the Escrow Items, unless Lender pays Borrower Interest on the Funds and appHcable law permits Le.";!r:r to make such . charge. However, lender may require Borrower to pay a one-time charge for an Independent real estate W-': "l"portlng service us'.ld by Lender in connection wtth this loan, unless appficabl" law provides uthetW\se. Unless an Dgree;,.,':~t Is made or applicable law requires Interest .to be paid, lender shan not be required to pay Bortowllf any Interest or earnings on the Funds, Borrower and lender may agree in wrttlng, hOW8Vllf, that Interest shaft be paid on the Funds. Lllflder shaa glve t:' i:.~!)rrower. without charge. an annual ~ccounting of the I=unds. Showing credits and debits to the Funds and the purpose for wh:ch each debit 10 the Funds was made. The Funds are pledged as additional security for all sums secured by the Security Instrument. " th'.l Funds held by lender exceed the amounts permitted to be held by uppl!cable law, Lender shaH account to Borrower for the excess Funds In accordance with the requirements of appRcable law. If the amount of the Funds hold by Lender at any time Is not sufficient 10 pay the Escrow Items when due, lender may so notify Borrower In writltlg, and, In such case eorrower shan pay to lende< Ihe amount necessary to make up the deficiency. Borrower shaD make up the deficiency In no more than twelve monthly paYments, at lendl.'r's sole discretion. Upon payment In full of all sumlJ secured by this Security Instrument, lender shaH promptly refund to Borrower any Funds he:d by lender. If, under paragraph 21, Lend'.lt shan acquire or sell the Property, Letlder, prior. to the acqul~ltlon or 1I.\Ie of the Property. shall apply any Funds held by lender at tho time of acqulsltlon or sale as a credit against the sums $8CUred by 'his Security Im:trument. 3. Application of Payments. Unless applicable law provides othl!fWl~e, aH paymllflts received "y Lender under paragraphs i and 2 shall be applied: first. to any picpa~ment charges due under the Note; second, to amounts payable under paragraph 2; third. to interest due; lourth, to principal due; and last, to any late charges due under the Nole, 4. Charges; liens. Borrowp.!" shall pay all taxes, assessments, charges, fine, and impositions attributable to the Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, If any. Borrower shan pay these obligallcns In the manner provided In paragraph 2, or If not paid In that manner, Borrower 3han pay Ihem on time uirect~1 to the- person owed payment. Bor,ower shan promptly furnish to lender an nollce! 01 amounts to be paid under this paragraph. II Borrower makp.s these paYments directly, Borrower sht'.n promptly furnIsh to lend3l' recelpls evidencing the payments. Borrower shan promptly disc.hllrge any lien whlc~. "as priority over this Security Instrument unless Borrower: (a) agrees In writIng to the payment 01 the obligation secured by the lien In a manner acceptable to lender; (b) conlests In good lallh tho lien by. or defends ag:lInst enlorcement of thli ncn In, legal procHdlngs which In iho le:'der's opinion operate to prevent the enlorcement of the lien; or (c) secure:'! from the holder of the Hen an agretimenl satIslactory 10 lender subordinating the Hen to thl:'! Security Instrument. II lender determines that any p,rt 01 the Property Is subject to a lien which may attain priority over this Security Instrument. lender may give Borrower a notice !dentlfylng the lien, Borrower shaD satisfy the Hen or take one or more 01 the actIons set lorth above wllhln 10 days ollhe giving of notice, 5. Hazard or Property Insurance. Borrower shan keep the Improvements now existing or hereafter erected 01'1 the Property Insu..ed against loss by nre, hazards Included within Ihe lerm 'extended coverage' and any olher hazards, ,"cludlng :Iood'! or flooding, lor which lender requires Insurance. This Insurance shan be maintained In the amounts and for thr. period:'! that lender requires. Th~ Insurance carrier providing the Insurance shall be chosen by Borrower subject 10 lender's apprOVAl which s~all not be unreasonably wtthhffld. If Borrower falls to maintain coverage described above, lender may, at Len~\!lr's option, obtain coverage to protect lli!nder's rights In Ihe Property In accordance with paragrap" 7. All f;,surance pollcle'! and renewals shall be acceptable to len"erund shall Include a standard mortgage clause. Lenrler shall have the right to hold the policies and renewals. If lender requires, Borrower shall promptly give to lender flU recelpts of paid premiums and renewal ",.,tice,. In Ihe event 01 1058. Borrower sh4R give prompt notice to the Insurance carrltll' snd Lendtw. Lender may make proof of loss If root made promptly by Borrower. IJnle3s Lender and Borrower otherwise agree In writing, Insurlnc", proceeds shall be applied 10 restoration or repair 01 Ihe Property damaged. tf Ihe restoration or repair Is llconomlcally feaslblfl llnd Lender's security Is not I~ssened. If tho restof1lllon or repair Is not economically feasible or lender', security would be lessened, the Insurunce proceeds shaD be applied I~ the sums secured by thl3 Security Inslrument, whelher or not then due, with any "\Ccess paid to Borrower, If Borrower ubatldons Ihe Property. or does not answer wllhln 30 days a notice Irom lender thulli'll If.surance carrier has oNered 10 allltle a claim, then lender may c':lgect the Insurance proceeds. lender may use tile procee<1'J 10 repair or res lore the Proplll1y or 10 pay sums secured by this Security Insin.ment, whethflt or nollhen due. The 30.day ptlliod wID begin when Ihe notlcl"! Is given, Unless Lender Ilnd BOflower otherwise agrfle In writing, any appl:caUcm 01 proceeds 10 princlpnl shan nol extend I,)r postpone the due date of 1!1~ monthly pnyments relerred to In puragruphs 1 and 2 or change Ihe amount 01 the pr..,"::l~~~"', 1'1 under paragraph 21 the Proper1\' Is acquired by Lender. Borrower's right to any Inaurance pollcleu anti prot;el.o'v" 'tt'l;Jtlinll Irom damage 10 Ihe Prop"rty prior te. the acquisition ahall paas 10 lender to the extent 01 Ihe tums by Ihla Sel:U111\' lnslrumllnl Immediately prlnr t" t~e Illcqulslllon. C. Occt:pancy, Presorvatlon, Malntor Ince and Protection ot the Prnplllr1Yi f:I/)"r~~wer'! Lt!l!!n Application; L...8hold8. I:jorrower shall occupy, e:'!tllblleh, Ind usn the PrOpetty II BorroW\!Jr's rrinc!p,,1 residence wllhln 51xly days aller Il'll execution of this Securlly ln~lrument ft'1d :'!hall conl/nue 10 occupy the Property as Borrower':,! princlplIl rl)~ld{'ncc for lit lea5t 0"'" )lilt" niter tho dllto 01 occupllncy, unl(lsS Lrmder otherwise Ilc;rees In wrltln". which c,)nsenl shftlf not t)f! unre1l50rHlt>ly wlthhelfl. or unle5~ oxtenuatlng cl.cumstanees exist which /u" beyond Borrow"r's conlrol_ Borrawer shalf not (je5troy. domll(JI.! (Ir impo" the P"'pt:'rty, 11110.... thl} Properly to deteriorate. or commll wllste on the Prop~rty. Bonnwer shall be In default if any for1eillJro action or proceed:ng, whether civil or criminal. I~ begun thlll in Lender'~, gooo lailh Judgment could rest/II In forfeituro or the Propt'lty or otherwise materially Impair the lien created by Ii'll:'! Sflcuri'y Instrument or lllnder'l\ lI11CUrlty Interest. F' 1."1 ifJ.!. /...~:-) (~7,''''J",\\ Pll9~ ~': ('If ~ rf et u------ --- . ".---."' ..... ~ j ~ ~'~. I ) c.t:> c,:) .., ~ 00 Z -J