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<br /> r��� . TO�EINER WfM ail the Improvements now or hereafter erected on the ro o and cii oaaomonte,�ppuKenenoaa,atd
<br /> , �, -
<br /> ��s��'' ' ibdurea now or hereafter a part ot the propariy.M replacements end additione ahaG a�oo be aavemd by thia 8eautity InMtumen4 '°.'f;:�'�"-
<br /> ...�:,;}. ,,,, --
<br /> ' ` s Ail of the toregoing to reterred to in this 8eaurlty►nsVument�the'Propeety.' --
<br /> '����-i�`�' BORROWER COYENANT3 thet Bortower la inw(ully sel�ed ot the estata hemhy comoyad nnd hnn the dflht M qrent er�� - - ��-
<br /> - •:�`�!ti�:;; convey the Prop�rty and that the Property Is uneraimbered, except tor encumbranoon of rocord, Sortower wartanta and v� � •
<br /> ?�;�,:;;r detend peneraliy the tlde to the Property ageinat all ctaims and demands,subJeat to any eFncumbraneaa oi reoord. -
<br /> n e
<br /> -� --��;��: '1'HI8 BECURRY iNSTRUMENT eomb(nes unlfom� oovenanta tor nnUonal uao and non�rtNorm covenante with Ilmlted ------
<br /> ' ''`�� variadana by JurlsdiaHon to consUtute a unttorm seai;ity instrument covertng►eat proporiy. � —
<br /> ''�`�1�:'; UNIFOHM COVENANTB. Bortower and L�der covanent and agree as toAowa: +-
<br /> r;:'.�;:;�; 1. Payment of Principal and Intereat; Prepayment and Late Chnr{�ea eorrower sdan prompuy pay wh
<br /> :•,,;. due the pdnclpai oT and Interes+t on tho dcbt cv(dcnccd by tho Noio and uny prepuymon!and late chargos duo undcr tho No2o.
<br /> '��:f� 2. Funds for Taxes and Insurance.SubJeat to applloeble law or to a written wah�er by Lender,Borrowor shuV pa "`
<br /> ;;'�`;,: to lender on the day moMhty payments are due und�r the Note,unUl tbe Note ta pafd in fu0,a sum('Funde•)for. (e)yon -
<br /> ,:�s�',:: texes and asaesamenta which may ettein pdority ov�this 8ecurily Inslrument as a �ten on tho PropeRy; (b) yeudy iaaoohal °
<br /> `:�::.3 payments ar ground rertts on the PropErty,R eny; (a)yeary hexard or property inauranoe premlums; (� yeady ilood Insuranco ° , •-� ''
<br /> �,�;:;;� prem�ums,H any;(e)yearly mortgage inswance premtums.H any;and (�any suma payablo by Borrower to Lender in eaaordanco
<br /> � � ;o-; wNh the provisions of paragraph 8, in Ileu of the paymeM ot mortgage Inaurance premiums. These ftems ere caited �satow
<br /> <�� items.' Lendw may, at any thne. coiteat and hotd Funda In en amount not to exceed the meximum emount a lender tor a .
<br /> tederaly related mortgage loan may►aquire for BoROwer's escrow account under the tederet P.eai Estate Setdement Prooedurea
<br /> Act oi 1874 as amended from time to�rne,12 U.S.C.@ 2801 et aeq. ('RESPA'), unlasa another taw that applies to the Funde �
<br /> sets e Ieaser amount. It eo, Leader may,at any tlme, coueat and hold Funds In an amount not to exceed the lesser amount.
<br /> Lender may eatimate the amaunt of Funds due on the basis oi current data and reaso�abte eatlmates of expendftures ot tuture
<br /> Escrow ftems or otherwise in accordanae wfth appiicable Iaw. ,.H
<br /> The funda shall be heid in an inetitutlon wfiose deposRs are Insured by a federal agency,instrumentality,or enUty pnciuding . ' � .,
<br /> Lender, B Lender la such an InsUGrtlon) or in eny Federel Home Loan Bank. Lender shali appy the Funda to pey the Escrow ,
<br /> ltems. lender mpy not cherge Borrower ta holdinQ and appytng the Funds, nnnually snalytkig the escrow account, or veritying
<br /> the Escrow Items, unless Lender pays Borrower interest on the Funds and appAcabie law permfts Lender to make suoh e
<br /> charge. However, Lender may requke Borrower to pay a oneUme charge tor en independent real estate tex reportfng aervice -
<br /> usett by Lender tn connecdon wHh thls loan, uniesa appliceb�e �aw provides otheiwise, UMess an agreement is made or �. -
<br /> applicable law requires interest to be pakl,Lender shaN not be required to pay Borrower any inte�eat or eamings on the Funds. �
<br /> 8orrower and Lendet may agree in writhg, however, that interest ahall be psid on the Funds. Lender sheM gHe to Bortower, � �
<br /> • w8hout charge,an annuai accoundng of the Funda, ahowing aedfts and debits to the Funds snd the purpose tor whioh each �
<br /> debR to the Funds was made. The Funds sre pledged as addlGonal security tor atl sums aecured by the 3ecurtty InsWment.
<br /> If!he Funds held by Lender exceed the amounts permitted to be fieid by appAcable law,Lender shell account to Bortower � '
<br /> for the wcceas Funds in accordence with the requirements ot appllcabie law. If the amount of the Funds hetd by Lender at any � _
<br /> Ume Is nol sutflclent to pay the Escraw Items when due, Lender may ao notly Borrower in writlng,and, in such case Bortower -
<br /> ahali pey to Lender the amount neceasary to make up the defictency. Borrower shail make up the defldency in no more than r�::_�-
<br /> tweNe nwnthy paymenls,at Lender's eole discreUon. � � � =,-,-'�
<br /> Upon payment in fuil ot all sums seoured by thie Searity Inotrument, Lender sheti prompUy retund to Bor►ower eny Funds o,. ,, '
<br /> heid by Lender. B,.under paragraph 21,Lender shell acquke or sell the Properry, Lender,pdor to the acqulattlon or sete ot the �--�
<br /> Property, shall appiy eny Funds he�d by Lender at the tlme oi acquisiUon or sate as a cxedft agstnat the sums secured by this �'.;�•�!_�. . �'
<br /> � Secu�ity insirument. '�`' : . •
<br /> 3. Applicatlon Ofi Paymente. Unless appilcable law provides athetwise, eA payments received by Lender under ( � { ��i
<br /> paragrnphs t and 2 ahall be appNed: flrat,to any prepayment chargea due under the Note; second,to amounts payebie under �4'
<br /> pe�agreph 2;third,to Interest due;tourth,to prindpai due;end Isst,to any late chsrges due under the Note. �',.`,.��;'�``•.�1'��•'•�'�';'��t'
<br /> �l. Char e8; Uens. Bortower shall ail texes, asaessments, charges, flnes and !m osidona attrlbutabie to the ��'������'��
<br /> ,,,„..
<br /> 9 Pa9 P .;,:,r,' �j``.� �
<br /> PrcpQrrj which mey atteh� prlority over this Security Instrument, end teasenold payments or ground rents, if any. Horrower shall �. �}"�!";', t',
<br /> ,.;,�s ��
<br /> pay these obllgetiona in the manner provlded in paragraph 2, or it not paid in that menner, BoROwer shali pay them on time ' ..���i, �
<br /> tlirectty to the person owed payment. Bortower shall prompUy tumish to Lender atl noticea ot amounts to be pald under this ' "'.;;;;�,
<br /> paragraph. If Bonower makes these payments directly. Borrower shall prompUy tumiah to Lender recelpts evidencing the ��I'�t���.•%�3%
<br /> payments. ' ':'i'�� ;;�a?
<br /> 8ortower shall promptfy discharge any Iien which has priortty over thls Security Instrument unieas Bortower. (a) agrees In ! � ;:;�;,r��;,�!�r�..,
<br /> writing to the payment ot the obligaUon secured by the Ilen in a manner acceptable to Lender; (b) contests in good lafth ihe
<br /> Ilen by, or defenda agalnst enlorcement of the Ilen in, Iegel proceedings which in the Lender's opinion operate to prevent the ' ��•:�
<br /> ( enlorcement af the Ilen; or(c) secures irom the holder of the Ilen an agreement saUsiadory to Lender subordineUng the Ilen to , :� •
<br /> thie Security Inslrument. If Lender deterrnines that any part oi the Property is subJect to a Ilen whfch may atteir► pdority over thla � '.�
<br /> i Security�naUument, 4ender may gNe BoROwer a notice identi(ying the Ifen. BoROwer shaA saUsfy the Ilen or take one or more of •
<br /> the actlons set forth above wNhln 10 days of the giving ot notice.
<br /> 5. Hazard or Pr�periy lnsurance. BoROwer shaA keep the improvements now exiating or hereafter erected on the
<br /> Property insured against loss by fire, hezards inctuded wNhin the terrn 'extended coverage' and any other hezerda, including �
<br /> floods or flooding,tor which Lendor requlres insurance. This Insurance shall be maintained In the amounts and for the perlods .
<br /> , that Lender requiras, The Insurance cartier providing the Insurance sheli be chosen by Borrower subJect to Lender's approval
<br /> ' wh�h shaA not be unreesonably wfthheld. It Bortower falis to maintain coverage described above, Lender may, at Lender's �
<br /> , opUon,obiafn coverage to protect lender's�Ights i� the Praperty in accordance wRh paragraph 7.
<br /> • Aq insurance pollcles and renewa�s shall be acceptable to Lender and shell Inciude a stendard mortgage clause, Lender
<br /> shall have the dght to hold the policies and renewais. If Lender requires, 6ortower shal promptly glve to Lender all recelpts of
<br /> pafd premiums and renewal notices. In the event oi�oss, Borrower shall glve prompt notice to the Inaurance cartler and Lender.
<br /> Lender may maka proof of loss M not made promptty by Borrower.
<br /> � Untess Lender and Borrower otherwise agree in wrfting, Insura�ce proceeds shall be appiled to restoratbn or repair of the
<br /> Property damaged, i1 the restoratlon or repair is economlcepy teasible and Lenders security Is not lessened.It the restoraUon or
<br /> repair is not economicalty teaslble or Lender's aecurity woWd be lessened, the Insurance proceeds shall be epplied to the sums
<br /> i secured by this Securfly Instniment, whether or not then due, wllh any excess paid to Borrower. If Borrowar ebandons the
<br /> Properly, or does not anawer within 30 days a notice from Lender that the Insursnce carrier t�as oNered to settle a claim, then
<br /> � Lender may collect the Insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums
<br /> i secured by this Security Instrument,whether or not then due. The 30•day period wIA begin when the notice is given.
<br /> 1 Unless Lender and Bortower olheiwise agree In wrHing, eny appllcation of proceeds to principaf ahall not extend or
<br /> � postpone the due date ot the monthy payments reterred to m paragraphs t and 2 or change the amount of the peyments. If
<br /> under paragreph 21 the Aroperly fs acqulred by Lender, BoROwer's right to any insurance policlec and proceeds resutting hom
<br /> damage to the Property prlor to the acquisition shaN pass to Lender to the extent of th� sums by thls Security Instrument
<br /> � inwnedlately prior to the acqulsitlon.
<br /> ' 6. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan
<br /> A�3�11ICet1011; LA�88hOIdS. Bortower shall occupy, eatablish, and use tlie Property as Borrower's princlpai residence wRhin
<br /> olxly deys after the execution oi this Security Instrument and shall continue to occupy the Property as Borrower's principal
<br /> rosidonce tor at least one year atter the date of occupancy, unless Lender otherwise agrees in writing, whlch consent shall not
<br /> ba unreaeonabty wfthheid, or unless extenuating circumstances exist which are beyond Bortower's conVoi. 8ortower shaq not
<br /> dootroy.damage or impair the Property, aUow the Propetty to deteriorate, or commil waste on the Property. Borrower shall be in
<br /> dalauR if any tor(eiture actlon or proceeding, whether civil or criminat, is begun ihat In Lender's good talth Judgment couid resutt
<br /> tn toAeiluro ot the Property or otherwise materiaNy impair the Ilen creeted by this Security Instrument or Lender's security tnterest.
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