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<br /> ' `' ' � TOQETHER WRH eIl the knprovemsnte now er heroafte�eroatsd oa the prop�Ay.md tU eaaemmts.�ppurtemnco�,end ________
<br /> ' - . ' fbR�,res now or hereatter s put of the propeRy.Ail�epk�aem�nte ind tddNbns shaU�tso be oovered by thts SoaurRy Inatrort�nl. `���"°----
<br /> � NI of ths foreQohp is raterred to h thb 8eovriry InsWrtient a�tho"Proporyr.° Ess�'",1;`".'`=_�:
<br /> • ' �� BORROWER COVENANTB that �orrower is IawNly eeired o}the oaTate hereby aonveyod�and has the ripht to prant and -�;
<br /> ° oonvsy the Property and lhat ths Properly Is unenoumberod.sxeept tor enoumbranoes ot reoord. Barower wu►nnte cnd wltl � ^''°'�'�== -
<br /> , wtir_.�,s -� ...
<br /> � � defend Qnneraly the tltta to the Property agolnst al►cielma and demands. subJeot to any enoumbrancos ot�cord. �
<br /> � ? TMIS SECURITY INSrRUMENT oombhea untform aovenanta tor nttianal uae and non�unuorm covenanta v�kh IUnked ' `"�:�`�+�?��
<br /> . vadatbna by Ju�tsdbtfon to aonstkute a unHonn ee¢urky hstmment ooverlrtp real property. ''��'�- � '-
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<br /> UNIFQRM COVENANTS. �onower snd Lender oovenant and apreE as tollows: " ' '""':�;�-=:
<br /> ... ` 1. Payment of Princtpat end tnterest; �repeymen4�t�d Lete Chep�ae.aonower snan p�om.�try voy wncn �.,-;..,,�:,_"
<br /> due the prhofpal ot and intsrest on the dobt evldenced by the Note and eny prepayment and late oharQes due under the Nate. .:.���,°;_az:;:._
<br /> • ' Z. Funde for Taxea end Inau�enca.SubJeot to app�bable lav�or to a wrkten wahrer by Lender,8arcower shYtl pay ' -���:
<br /> � ° � ,��•,,
<br /> . .- .-_' ,.:,; �. to Lender on the day monthy payments aro due under the Note,untli the Note is paid in WII,a Bum("Funds")for. (a)yearly `_ _ :. n,;�,;:;�:�
<br /> • texes and assessments whbh may atta� pHOrRy over thla Securtty Inatrument as a Iien on the Propertyp (b) y68tly iBteehOtd ;"' ,°' •:-•:"'%n_
<br /> ' . ' payments or ground renta on the Property, N any; (o) yearlY hamrd or property inswence premtums; (d) yearly tbod hsurance , -
<br /> � premiums,H any;(e)yearly mortgage Insurance premiums,tf any;and(� eny sums payabb by Borrower to Lender in acoordance
<br /> wfth the provtslons ot paragraph 8, In Iieu af the payment ot mortgago hsurance premiums. These iteme are oatlgd "Hscrow
<br /> Items' Lender rt�sy, at any Ume, colteot and hatd Funds in an amount not to exceed the meximum amount a tendor for a `'
<br /> tederaly related mortgaga toan may require for Bo�ower's Escr�w acaount undar the tederal Heal Estate Settlement Prxedures -
<br /> Act ot 1974 as amandad lrom time to tlrtes,t2 U.S.C.�260t et seQ• ("RESPdY)� unbss another law thnt a9Pt:�as to the Funels
<br /> ssts s �esser amount. N so, Lerader may,at any time,colbct�nd hold Funds In nn amount not to oxc�ad the lasser amouat. �
<br /> lender resy estimate the amount of Funds dua on tho basis o4 curcent data and reasonnsle esttmates o4 ex�anditures o4 future
<br /> E��rmw Items ot othenwise in accordance with epplicable taw. _
<br /> rn�Funds sheli be he!d h►an institutbn whose deposits uTS insured by a fedarat spency,instn+mental'dy,or entity(inc(udinp ;
<br /> ;,:.;:•�.:�•.j��; .. �enaer. N Lender ts such an inatitution) or!n eny Federal Home Lean 8ank. Lamdor shall upply the Funds to pa/ tha Escrow �. � • ,-,. .
<br /> r ti h+•��, ` � -` It�ms.Lender may not chargB BoROwer tor h�Irling and eppiying the Fwnds, annualy ana7ysing tho escrow aocount,or veriiy�ng .
<br /> , ,�- ti•.
<br /> � : „ 5 ;�� tha Escrow It�ma, unEess 4ender payS Borrower Intereat on the Funds and appl�able law permtts Lender to meke such a t;:'� `
<br /> �.'r� ';;.:::' �.,� 9 TS il,,::'. .r`t� ,`rl F1:i:,�..
<br /> � � char e. �owevar, Lender may requUe Bartower to pay a one-tYne cha e tor an hdependent real estate tax reporthg serv�ce }� �f s'•' J4 `
<br /> ,. '����- used by len dar i n eonn e c t bn with this 1oan, unless a pP�ab�e �aw provkies otherw�a. Untess an agreement is made or , >•��•,';�:�.:� ��f,��.� ,\�;ti•::"
<br /> ti,:%;`,',�:`t;{�=...:�•.. -
<br /> � r,: .���,t,'�"� appllcabie law requkes inferest lo te pald,lender shall npt be required to pay Bortower any ntarest or eamings on ihe Funds. ���;!,ri�i;,4;,..;ti?!�`•�,?;:��,.\::_-
<br /> Borrower and Lender may agree In wtitin9, howaver, t'hat interesl ahall be petd on t�e �unds. Lender shall gHe to Bortower, , ;''���'-"'•']'2�'�1�,•i:(;?�:•.�-;--
<br /> without oharge,an annual accounting of !he Funds, showing Ctedits and debi�s to the Funds&nd the purpose fo� whlch eBCh ,•`?si::� `?�yj,<1�`,;-
<br /> debft to the Funda wes made. The Funds are ptedged as addiNonal security for xll sums socured by the Securfty tnetrument. • �-�'` ' �;`''
<br /> ,:=.i:
<br /> If the Funds hetd by Lender exceed the smounts permitted ta be held by appACabta law,Lender shall account to Borcower • "'"�• � �.
<br /> for the excess Funds in accordance wtth the requirements of appi�ab�e Iaw. if the amount of the Funds hetd by Lender at any . ' '"�
<br /> r..
<br /> t4ne Is not suffictent to pay the Esarow Items when due,lender may so notliy Bortower in wdting,and, in such case Bortower ' � �;,�=
<br /> shall pay to Lender the amount neceseary to make up the deficlency. Borcower shail make up the de8cfenoy in no more than .�•��'�;.
<br /> trreke monthiy pflYrt+enta,at Landers sote discretbn. : _= i° ���.��'.'i'�:;.
<br /> Upon payment in fu11 of all sums secured by this Seourity Instrument, Lender shail prompty refund to Bonower any Funtls . -
<br /> hetd by Lender. 1},�nder paragraph 21, Lender shall eaqufre or se�l th�Property.Lender. prbr to the aoqulsftion or sale of the �
<br /> Property,Shall appry any Funds held by Lender at the tlme ot ecqulsttlon or sale es a credk agaMSt the sums aecured by thls ,
<br /> SeouAty Instnement. ..• !
<br /> 3. Applicetion ot Payments. Untess appibabte Iaw provtdes otherwise, nM payments received by Lender unde► ,
<br /> pareprepha t and 2 aha�t be apptled: ttrat,to any prepayment charpes due under the Note;second, to amounts payabie under <, � �
<br /> par8praph 2;thlyd,to interest due;fourth,to princlpet due;and lest,to any late oh8rgos due under the Note. ; �
<br /> 4. Charges; LI@Itd. Bonowor shalt pay atl taxes, aesessments, charges, fYres and impositlons attributable to the �" ,
<br /> � • .r,� i °��
<br /> Property whbh me�y attaln priority over thls SeCUrity Uetrument, and Ieasehoid payments or ground rents, if any. Borrower shali •'"jr,'
<br /> p8y these oblipatbns in the menner provided h per8graph 2, or M not paid In that menner,Bortower ahall p8y them on time I ,4,� +� S
<br /> � direoty to the person owed payment. Bortower shati prompty fumish to Lendet all notFaes of amounte to be pafd under this 4 � �'I
<br /> p8ragrsph. �f Borrower makes these payments direCtly, Borrower shaB prompty fumfsh to Lender receipts evidenCing the I
<br /> peyments. � ��.'��
<br /> • Borrower shail promptly dlscharge any �ian whiCh has priorty over this Security Instrument un�ess Bortower. (a)agrees in � •v°;F
<br /> writing to the payment of the obligatbn secured by the Iien in a manner acaeptabte to Lender; (b) contests h good falth the I , '
<br /> Ilen by. or detends against enlorcement of the lien fn, tegal praceedhgs wh�h In the Lender's opinion operate to prevent the �'� ,;�,�;�'�
<br /> entorcement of the Iien; or(c)secures from the hatder ot the Iien an agreement satisiactory to Lender subordlnating the Iien to : . �
<br /> this Securiry Instrument. If Lender determines that any part ot the Property is subject to a tlen wh�h may atlain priorky over this ; "
<br /> Securfty Instrument,Lender may give Borrower a notbe IdentHying the lien. Borrower shall s8tisty the Iien or take one or more ot , �
<br /> the aCtions set forth abovb within 10 days of the giving of notfce.
<br /> 6. Hazard or Property insurance. 8orrower Shali keep the knprOVements now existing or here8fter eteCied on the ,
<br /> PropeRy Insured agahst bss by tire, haiards InCluded within the term "eMended Coverage'and any other hezards, includhg '.
<br /> fbods or fboding,tor whiCh Lender requkes insurance. This insuraoce shall be maintahed h the amounts and tor the perlods � �� �'�� �
<br /> lhat Lender requires. The insurance carcier provfding the hsuranCe shaM be chosen by Bortower subJect to Lender's approval : �� ''
<br /> . .,r,
<br /> whiCh ahall not be unreasonaby withheld. If 8ortower fails to maintah coverage described above, Lender may,at Lender's �
<br /> � optlon, obtah coverage to protect Lender's rights in the PropeRy In accordance wfth paragraph 7. ,
<br /> ' All fnsurance poifcles and renewats shall be acceptable to lender end ehaA Inciude a standard mortgage clause. Lender
<br /> shatl have the right to hoid the policles and renewats. If lender requlres, Bortower shalt promptly give to Lender aIi recefpts of �
<br /> palQ premiums end renewai notbes. In the event ot bss, 8orcower shall ghre prompt notics to the insurance caRier and Lender. i
<br /> Lender may make proof of Ioss tf not made promptly by Borrower. ,
<br /> Unless Lender and Borcower othervvfse 8grea in writing, Insurance prxeeds shall be epplied to restOretbn or repair of the
<br /> Property damaged, H the restoration or repafr is economlCaNy feasible and Lender's security Is not lessened. If the restorfltion or
<br /> repaU is not economicaliy teas�bte or Lender's security would be Iessened, the insurance proceeds shall be applied to the sums
<br /> SeCUred by thls Security Instroment,whether or not then due,with any excess pafd to Borrower. If 8ortower abandons the
<br /> Property, or does not answer within 30 days 8 notlCe from Lender that the tnsurence car�fer h8s oHered t0 Settle 8 C�aim,then
<br /> �ender may collect the Insurance proceeds. Lender may use Ihe proceeds to repair or resto�e the Property ar to pay sums
<br /> secured by this Security Instrument,whether or not then due. The 30•day period will begin when the notbe�5 gben.
<br /> Untess Le�der and BOrrower othe�w�se egree in wriling, 8ny applicatlon ot proCeeds to p��nCip81 Sh811 not extend or
<br /> , postpone the due date of the monthy payment6 referred to in par8graphs 7 and 2 or change fhe emount of the payments. If
<br /> � under pflregraph 21 the Property is acquUed by Lender, BorcOwePS right to any insurence pollcies and proceeds resufting Nom
<br /> � damane to the Pronartv nrlor to the acaulsklon shall pass to Lender to the extent of the sums by this SeCUrity Instrument
<br /> immedlatey prior to the acquisdion.
<br /> 6. Occupency, Preservation, Meintenance and Protection ot the Property; Borrower's Loan
<br /> A�1p11C8UOt1; L@88@hO1d8. BOROwer Shall occupy, estabifsh, and use the Property fls Borcower'S prinCip&1 reSidence wRhin
<br /> sbcty days efter the exeCUtbn ot this Security Instrument and shall continue to occupy the Property as Borcower's principal
<br /> � residsnCe for at least ane year atter the date of oecupaney. un�ess Lender otherwise 8grees In wrding,which consent shaf� not
<br /> '} Le bn:�asanab�y riilhrre�d,ar uniess extenua��g circumstar,ces exist w�++cr arp beyond Borrower's contro�. k3onower sha11 not
<br /> ` efesuoy. damage or�mpa'v thm Pr�perty, ailow ine Propehy to deteriorate,or commrt waste on the Proper,y.8onower shan be�n
<br /> �� �e�auM if any 1orleitur�pctio� or preceeding. vihOthB�Criil Or Ctinin84 is begun that i� Lender's good faith judgment could resuft
<br /> . 'I m fo�teRUre af th0 Property or othervis6 materielly impe�r th8 li9n Creeted by this Security Insirument or Lender'S Security inlerest.
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<br /> F1316.1M0(12/93) Pipe?o'S �_ �1
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