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<br /> ?���`" ' • • TOQETFIER WITH ali the Improvamento now or heresRer erected on the properiy,and all oaeamenta, Appurtenancoo,end �
<br /> �� ' ' • • tixtures mow or hereafter e part ot the properiy.Atl reptaasments end addltiona ehaU aieo be oovered by ihis 8ecurity Inatrument. . �'
<br /> '"� • Ati of the toregaing(e te4ened to in thla 8ocudty instrument us the'Property.' • . . .
<br /> � BORRONfER COVENANTS that SoROwer!s Iawtutly sefted ot the estate hereby conveyed and has the �l�ht to grant and
<br /> ° convey the PropeAy and that the P+�perty is unonaumbered, exeept tar encumbrances of record. 8onower wartanta and will ,
<br /> detend ge�oretfy the UUe to tha Property agninst aA c�aims und demands,aubject to any encumbrences ot record. • , -
<br /> THIS SECURITY IN3TRUMENT eombines unliorrn oovenants tor natlona� use and non•unifortn covenants �vrih Iimited ,. _
<br /> variatlona by JudadtaUon to conaUtute a unitortn security instrument covedng rea�property. W —
<br /> , UNIFORM COVENANT9. 8orrower and Lende�oovenant and agree as to�iows; � �1����, �
<br /> 1.Payment of Principat and Intereat; P�opaymont and Late Charges. Borrower shall promplly pay when ""
<br /> _ � due the pHnclpai of and intereat on the debt evidenoed by the Note end uny prepayment and late chargea due under the Note. , - _
<br /> 2.Funde for Taxes end Insuranae.Subject to applicab�e law or to a written waiver by Lender, Borrower shail pay , • -.-
<br /> ' to Lender on the day monthiy payments are due under the Note.undl the Note la pald in fuli,a sum ('Funds")tor. (a) yearty ,
<br /> r��• , _, texes end asseasments which may attaln prlortry over thts SecurUy �natniment as a Nen on the Property; (b) yearly teasehold ��
<br /> '�'`'Y��;'�: ` • payments or ground rents on the Property. M any; (a) yeady hezard or property Insurence premiums; (�yearlq flood insurer�co -�
<br /> '' ' • premluma, B any; (e)yeady mortgage Insurance premlums,ti sny:and (Q any sums payabie by 8orrower to Lender in accordance � i��-
<br /> . , wRh tha provislona o}paragtaph 8, in Ueu of the payment of mortgage insurence premiums. These kema are called 'Escrow ----•
<br /> ftems.' Lender may, at tmy Ume. calloct ond hold Funds In an amount not to �xceed tho manimum amount a lender tor a � .:�`
<br /> � � ' • tedera�y retat�d moetoaoe toae► mny �quire for Hotrower's escrow account under!ho te�lerai Reai Es9ate S�ttiement Proceduros � �. � .
<br /> . },...�,;�'• Aat of/874 as ameadet9 4rom time to tirrto, 12 U.S.C.�2SDt et seq. ('RESPA'), unt¢ss another 6aw that app'-i0s to the Funds '" ' -~`'
<br /> , sets a lesser amaunt. tf so. Lender rnay, at any time, c�aAect and hold Funds in 2.�e amount no4 to wacceed the�¢sser amount f ',;4�;f;s:::.� f y'
<br /> Lender m�,y oa'rmate M�amount ot Funds due va ihe basis oi curr¢nt data and�easona6fe esttmates of expendttures of future . . .,,��;;;: y =
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<br /> � � � � Eecrow Itcros or otherwise in accordance with appAcsble law. � ' :�`�'��'' '• o�;.,
<br /> � '���•: Th e F u n c l s s h a l i b e h e i d l n an instltulion whoae de pos0s are insured 6y a tederat agency,InsYrumEntalfry, or entity pnGuding
<br /> ��+%;•• '+;�1r` � Lender,H Lender is sucD�an InsUtutlon) or In any Federai Home Laan Bank. lender ahatl apphj the Funds to pey the Escrow ., n J .y�—
<br /> �"''�'•'`•�� +� "'��' Items.Lender may not aharge BoROwer for holding and applying the Funds, annually analyltfng the escrow account, or verHying , �� '�'
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<br /> •..,�,e•�;.;,.,.�.��•:.e the Eserow ltems, unless 4eoder pays Bortower Interest on the Punds and applicable law permits Lender to make such a �•, _
<br /> �`t�;i,�.;; . �J,�:•� Q oherge. However, Lender may require Bortower to pay a one�Ume charge for an independent real estate tex teporting aervice � ,,i, :
<br /> ''%;'�' !{ used by Lender in connectlon wkh this Ioan, unless applicable Iaw providea otherwise. Uniess an agreement is made or �, u;:�.
<br /> ' appllceble law requlres Interest to be pald, Lender ahail not be requlred to pay Borrower any Interest or eamings on the Funda. „ � :`��?+ •.�'-
<br /> ' � Bortower end Lender msy agree in wridng, however, that intereat shaY be peld on the Funda. Lender sheli gNe to Bortower, �����'�" --
<br /> � wfthout cherge,an annua�accounUng of the Funds, showing credks and debks to the Funds and the purpose for whioh each ! , �
<br /> ,J.?:��1.'-� � debft to the Funds was made. The Funds are ptedge�as addiUonat security for aA sums secured by tfie Securfly InsWment, +•r`:'•� , ,�
<br /> `";°' � If the Funds heid by Lender excead the amounts pem�itted to be hetd by applicable Iaw.Lender shall account to Bortower ,':::::.
<br /> tor the excess Funds in aecordenee wtth tfie requirements of appliaable law. If the amount of the Funds heid by Lender at any �:�...J�`• •+�%
<br /> � ' Ume is not suifldent to pay the Escxow�tems when due, Lender ma so not Borrower in w�ting,and,In such case Bortower ' ' . •""= —
<br /> Y ttY �:.:;
<br /> ' shali pay to Lender the amount necessery to meke up the defidency. Borrower shali make up the deflclency in no more than ���,
<br /> twetve monthiy payments,at Lender's soie dlscreUon. : '
<br /> � Upon payment In full ot aIi sums aecured by this 3ecuriry InsWment. Lender sfiaN promptiy reTund to Borrower any Funds ��'',��''�,. :. . ",;_''` .' .
<br /> heid by Landar, ii.under paragraph 21. Lcndsx sh�!! scquire or sell the Progerty. LwK1Pr,fl�ior to the acquisftion or saie of the ���,':.�� _�� _
<br /> ` ., • .,;�.,_'. • :
<br /> � Propeny, ehati appy any Funda held by Lender at the Ume of acqulsiUon or saie as a ctedft agalnst the sums secured by thls �'-,�••r�" � .:! ,;.
<br /> • . - Secudry Inatrument. ,,•:;..t}, �
<br /> . l r,'f:�,�� � �
<br /> � ' �`���•�% 3. �l q p alteation of P a yments. Uniess appYcable Iaw provides otherwise, atl payments receNed by Lender urtder � .. �-<r,r,�.;:,�a
<br /> ai;;:;,.:- ,
<br /> +,,:.!f paragrephs 1 end 2 sfiall be applied: flrst,to any prepayment charges due under the Note: second,to smounts pa y a b ie un der � .,>,:,.;.� �-
<br /> � paragraph 2; third,to interest due:tourth,to princlpei due; and Iast,to any late charges due under the Note. � �.� ,7,;_;
<br /> .�,�':. l • 4. Chgrg@s; Liens. 8ortower shatl pay all texes, assesements, charges, fines and imposiUons ariributable to the ' +;'' '
<br /> � . Property whioh mey attain pflority over this 3ecurily Instrument, end Ieasehoid payments or ground rents,if any. Borrower sheli � � ����� •''�`
<br /> pay these ob9gations In the manner provided In paragraph 2, u ff not pald in that manner. Bortower shall pay them on Ume . . � �
<br /> , directly to the person owed peyment. Bortower shaii prompty lumish to lender atl ootices of amounts to be paid under thls � '�� , ,
<br /> � paragraph. tf BoROwer makes these payments dhectly, BoROwer shall promptly fumish to Lender receipts evidenGng the t .�
<br /> paymenta. 1 . �.
<br /> •'.�� � Borrower shall promptly dlscharge any Ilen whlah has pdorily over this Security instrument uniess Borrower. (a)agrees N �����:
<br /> �' wdtlng to the payment of the obilgaUon secured by the lien U a manner accepteble to l.ender; (b) contests In good faflh the ��• �`'%. ��1f
<br /> `s�'.� . � Ilen b, or defends a inst enforcement of ihe Ilen in, legal proceedings which in the Lenders opinion operate to prevent the '.;.!,""
<br /> � enforcement of the IlenB or(o) secures hom the holder of the Ile� an agreement satlstactory to Lender subordinating the Yen to �';,.•,,�- ��3
<br /> thls Seaurily Instrument.If Lender detertnines that any part ot the Property Is subject to a Gen which may attain pdorily over thls ;':;;;:� �'3-,.
<br /> $ecurity Instrument.Lender may gtve Bortower a notice identifying the lien.BoROwer shall satisy the lien or ta ke one or more o f �,r; :
<br /> ,. the actlons set forth above wfthin 10 deys of the gNi�g of notice. j. � '
<br /> 5. Hazard or Property insurance. Bor►ower shail keep the improvements now ex(sting or hereafter erected on the , , �`,._
<br /> Property Nsured against loss by fire. hezards Included wilhin the tertn 'extended coverege' and any other hazards. inGuding . �`"Ar'
<br /> , floods or flooding,for which Lender requlres insurance. This insurance shall be maintained in the amounts and tor the pertods �'�:
<br /> that Lender �equires. The tnsurnnce cartier providing the insurence shatl be chosen by Borrower subject to Lender's approvai ' ��
<br /> which shep �ot be unreasonably wfthheid. If Bortower fails to maintain coverage described above. Lendar may. at Lender's ?�`�
<br /> optfon, obtain coverage to protect Lender's dghts in the Property in accordance wfth peragraph 7. , +�'r
<br /> � •• � NI insurance policles and renewals shaii be acceptabie to Lender and sheli include a standard mortgage clause. Lender •�-_
<br /> � shall have the tight to hold the polides and renewels. Ii Lender requlres, Bortower shall promptiy give to Lender all recHpts ot `��4,�
<br /> - � ��...�� pald premiurns and renewai notices. In the event of Ioss. Borrower shell gNe prompt notice to the insurance carrier and Lender. ' ��
<br /> � Lender may meke proot of Ioss if not made prompty by BoROwec ' 'Ih
<br /> Unless 4ender and Borrower otherwise agree in writing. insurance proceeds shal� be apm�ed to restoration or repair of the
<br /> Property darrtaged,iT the restoration or repeir is economically feasibte a�d Lender s securiry is not lessened. If the restoration or 1 �%*
<br /> • repair is not economicalry feasible or Lender s security wouid be lessened,the ins�rance proceeds shall be appiied to the sums
<br /> secured by this Security Insuument, whether or aot ihen due, with any excess pa�d to Borrower. It Borrower abandons the ;
<br /> Property,or does not answer within 30 days a notice(rom Le�der that the insurance�.arrier has offered to settle e claim, then 7
<br /> Lender may coliect the insurance procaeds. Lender may use the proceeds to repair or restore the Property or to pay sums _
<br /> - secured by this Security Instrument,whether or nol then due. The 3Gday period wili begin when the notice is given. �:;'.,`
<br /> Unless Le�der and Bortower otherwise agree in writing. any applicatian of o�oceeds to principal shal� no; extend or ,;,,;.�
<br /> postpone the due date oi lne monthty payments re9e«ed to In paragraphs 1 and 2 or change the amount o4 ihe payments. tt ;•.,�1
<br /> � under paragraph 21 lhe Property is acauired by Ler.der. Borrowers right to any �n�urance poilcies and proceeds tesuRing bom "; "�.�;
<br /> damage� to the Propehy prior to the �cquisition shai• t�ass to Lender to the extent of the sums by this Security Instrument
<br /> ' immediateh/ pnor to the acqulslUon.
<br /> _.a n_�t���f�.. �t �A.. 0�.......i... C�...r.�mn•'o 1�tim -
<br /> b. uccupancqr� t'f686fVgilOfl� tY1iA�t�tCd�dt�4o auV r�vaso�.uv�� �. • .vpv.y� .� -
<br /> AppUeation; I.epSe'�oltls. BoROwer shall occupy. establish, and use the Properry�as Bonower's prineipal residence within
<br /> .,,,;, . � sixty days after the execuUon oi this Security Instrument and shall continue to occupy the PropeAy as Bonower's principal '
<br /> ' ` residence tor at Ieast one year after the date of occupancy. unless Lender otherwise agrees in writing, which consent shall not f
<br /> � be unreaaonabty withheld,or untess ext?nuating circumstances exist which are beyond Borrower's co�trol. 8orrower shail no*.
<br /> destroy,damege or impair the Property. allow the Property to dete�orate. or commit waste on the Property. Borrower shau be�n
<br /> t'��' '! default M eny fottefture actlon or proceeding. whether�vil or criminal,is begun that in Lenders good faith judgment could res�tt
<br /> I in farfeiture ot the Property or otherwise materlally ir�Peir the lien created by this Security Insttument or Lender's securrty mterest.
<br /> . � �,.
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