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<br /> ' TOQE7HER WITH nil tho Improvcmcnta Rov� or hercaflcr crcctcd on tl�o propcRy, nnd all c�ncmcnt�, oppurtcnancc�.and I
<br /> ' f�xturc� now on c�ranitcT a pnA oi tho praperty.All rcpinccmcnto nnd addlilono ahall atso bo covcrcd by thln Sccurity Insirumcnt. ��; I
<br /> All 01 tha forcpolnp Is rcfcrred to In tlils 9ccudiy Inotn�mcnt ao iho 'Propr.riy.'
<br /> 90AR0`NE�i COVkNANTB thnt Bortowcr Is la�v(ully nctzcd oi tha catato hcrcby convcycd nnd hao tho �I4ht to flraM Qnd.�' .,__
<br /> . convoy tho Properly und ihat tha Property ls unencumbered, oxecpt tor encum6rnncos o} record. Borc�wcr wnrtnnto and vAll ��J • �`_��
<br /> � defend penerAly the tiUe to the�roperty npelnot nll clalms nnd demnnde, aub�oct ta any oncumbrancas o1 record. � •� ,�' -
<br /> THI9 SEGURITY IN9THUMENT combinos unil�rrn covenento for nnUannl uoo and non•unBortn covertnnto with Ilmlted � +��-�
<br /> vadatlone by Jurfadictlon to conntituto a unlTortn oocudty Inntn:mont covcrinp rcal property. � 2�
<br /> - UNIFQAM COVENANT9. Borrower end Lende►covenent and Rgree ae totlowa: �"'�"
<br /> 1. Payment of P�incipel and Intereat; Propsyment �nd Late Charpae. 8oerower ehnli promptly pay when � �_
<br /> �� due tho ptinclpal ot and Interori on tho debt evldanced by tiie Note end eny prcfNay+nsnt und lut� ch�rgo:� duo und�r tho Noto. ',"
<br /> �� 2. Fund� iar Tnx�s �nd InsurAno�. SubJect to Qppllcsble Inw or to e wdlten walver by Lender,Borrower aheli pay l.r� .x�
<br /> to Lender on the day monthly peyments nre due under the Note, untll the Note Is pald In tull,a sum ('Funds°) tor: (a) yearty ;�'�"
<br /> ' teucos snd neaesaments which may arialn prlo�ity over ihls 9ecurity Inatrument ao a Ilon on lhe Properry; (b) yeerty leasehold �
<br /> Paymente or ground rentt� un lhe Property, 8 any; (n) yesrty hezard or property Inaurence premluma; (� ye�rty flood insurenco „
<br /> premlums, I}eny; (o) yenity mortgape fnsurence premlums, It any; end (Q any sumn pnyable by BoROwer to Lender In accordanca , `�
<br /> with tho provlslona of paragrepli 0, In Ileu of the payment o} mortpage Inaurance premiume. Theso Itoms ure called 'Escrow ;
<br /> ftems.' lender may, at any tlme, coilcct and hoid Funds In nn nmount not to exceed the maxlmum amount n lender lor e �
<br /> federally related mortgage loan may requlre for Borrower's escrow account under 4ho federal Heal Estate Serilement Prviceduras .
<br /> Act ot 1874 ea nmendnd 4rom tlme tu time, 12 U.S.C. �2601 et seq. ("RESPA'), unlese another law thnt appiles to the Fundo
<br /> ' seta a lossar amount. If so, Lender may, at any time, collect ond hold Funds in an amount not to excead tha lesser amount.
<br /> Lender mny eatlmato She nmount of Funds duo on the basis of current date and reasoncsblo ostimates of expenditures of future
<br /> Cacrow Itema or otherwise In eccordance with appllcable Inw.
<br /> The Funda ahell be hetd in an InaUtutlon whose deposits are Inaured by a federal ugency. InsWmentalfry,or entity (Inciuding (
<br /> Lender, I( Lender 1� such nn Institutlnn) or In any federal Home Loan Bank. Lender ahnll epply the Funds to pay the Escrow , „
<br /> Iterna. Lender msy not charQe Dortawer tor holding ar.d applying the Funds, ennually enalyz(np ihv escrow aocount, or vadlying I .
<br /> the Escrow Items, unless Lender Foya Bortower Interest on the Funds and applic�sblo luw permits Lender to maka such e ,
<br /> charge. However, Lendcsr may roquire BoROwer to pay a one-time cherga for en Independont real estate tex repoRing service I ' ���,'
<br /> usad by Lender In connectlon with this lonn, unless appllccble lew provldos otherwise. Unlesa en agreement Is mado or I '�+�w_
<br /> � applicabie law requlres interest to bo pald, Lender ehall not be required to pay Bortawer any Interest or eamings on tho Funds. .,_'-�
<br /> � 8ortower and Lender moy agree In wdting, however, thnt interost shall be pald on tho Funds. Lender aheil give to Borrower, I ,�'�'=.
<br /> without charpe, en annual accountinfl ot the Funds, showing credits and debito to the Funds and the purpoae for whlch cach ,
<br /> debit to the Funde was mnde. The Funds are pledged as additional aecurity for ali auma securad by the Security Inetrument. i � ''.���
<br /> If the Funda held by Lender exceed the amounts pertnitted ta be held by applicabte Inw, Lender ahull account 10 Bortower
<br /> tor the excess Funds In uccordanco with the requlrements of uppllceble law. If the emount of tho Funds held by Lender at any � " a�'.
<br /> time [s not sutf:cient to pay the Eacrow Items when due, Lender may so noUry Borrower In wdUng,a�id, in auch case Bortower ' , 'r'. '
<br /> shsll pay to Lender the amount necessary to make up the deflciency. Bonower shell make up the deticiency In no more than i '` �t
<br /> twelvo monthy payments, at Lender's eole discretlon. � � '�
<br /> unnn navme.nt In ful! of all sums aecured bv thle SecudN instrument, Lender shall promptty retund to Borrower eny funds i .•;5.��`��"—
<br /> held by Lender. If, under paragraph 21, Lender shell ncqulre or sell the Property, Lender, pdor to the acqulsltlon or saie oi 4ho � - - ;+
<br /> Property, shap apply any Funds held by Lender at tho time of acqulsitlon or salo as a credit against the sums secured by thls �
<br /> Saourfty Instrument.
<br /> 3. Applle6tlon of Payments. Untess appAcable iaw provldes otherwise, all payments received by Lender under
<br /> paregrephs 1 and 2 shall be nppliod: flret,to eny prepayment charges due under the Note; second, to amounts peyeble under
<br /> paragreph 2;third,to Interest duo;fourth,to principal due; and last, to any lato chargos due under the Noto.
<br /> 4. Ch8fge8; Lfet18. Borrower sha!I pey ali texes, essessments, cherges, flnes and Imposflfona attributnblo to tho ;
<br /> Prope�ty which mey ettain prlorfty over thls Sec�rity Inswment, and leasehold puyments or ground rents, it any. Bortower shall , ` �
<br /> pay these obligationa In the manner prnvided In paragraph 2, or If not paid fn thet manner, 9orrower shell pay thom on time '. ` �
<br /> directly to tho peraon owed payment. Borrower ahnll prompty fumisti to Lender ell notices of umounts to be paid under thls ; i � •
<br /> paragraph. II Borrawer makes these paymenls directy, Borrower shell promptty tumiah to Lender recelpts nvidenctng the ,
<br /> payments. '
<br /> Borrower shall promptty dischnrge uny Ilen whlch hus prlorlty over thls Security Instrument uniess Borrower. (a) agreos In
<br /> wdting to the puyment oi the obligatfon sacured by tho Ilan In a manner ucceptabie to Lender, (b) contesta In good taNh the � +\ w .
<br /> Iien by, or defends ngutnst enforcement ot tho Ilen In, legal pracoedfngs whlch In the Lender's opinlan operate to prevant the . • ��i,ir
<br /> enlorcemsnt of tho Ilen; or (c) secures from the holder of the Ilen an ngreement setisfactory to Lender subordinatinp tho Aen to
<br /> thls Security Inatrument. M Lender dotermines that any pert ot the Property is subJect to u Ilen which may nttaln pdority over this
<br /> Securiiy InsWmant, Lender may give BoROwer a notice Identifying the Ilen. Borrower shall satisty the Ilen or take one or more ot
<br /> the ncllons set torth above wMhin 10 days of the glving o1 noUce. 1 � ,
<br /> 5. Htlza�d or Property Ineur��ce. Borrower shall keep ihe Improvements now existing or hereafter crected on the �
<br /> Property Insurod agalnst lose by flre, htuards Includod within the term 'extended coverage' and nny other hazards, Including , ;
<br /> fioods or tloading,tor whlch Lender requlrea insurance. Thls Insurance ahall ba maintalned in the emounts and lor tho pedods , , �
<br /> that Lender requlres. 7he Insurance carrler providing tho Insurance shall be chosen by BoROwer subJect to Lender's npprovel .' �
<br /> •�• which shall not bo unreasonnbly withheld. II Borrower falls to malntaln coverago descrtbad nbove, Lender mey, ctt Lenders �k,, �
<br /> optlon,obtA(n coverape to protect Lender's righta In the Property In accordance with peragraph 7. �
<br /> All Insurance pollc:es nnd renewals shnll be acceptable to l.ender �nd shall inctude a atandurd mortgage clnuse. Lender `,
<br /> shnll have tho rlght to hold tho pollcles and renewals. Ii Lender roquires, Bonower shall promptly give to Lender all recelpts of
<br /> � pnld premfums end renewsl nottcos. In tho ovent ot loso, Borrower shall glve prompl notice to tho In3uranca currier nnd Lender. .
<br /> Lender may mako proot o}loss If not mudo prompty by Borrower. '
<br /> Unlosa Lender and 8orrower othenvlso ogroe In wdting, Insuranco proceeds shall bo epplied to restoratlon or repnir of the �+
<br /> ' Property dumaged,(f tho rastorntlon or repnir is economicalty feaslhle and Lender's security Is not lessened. If tho rastorution or
<br /> , repalr Is not aconomically teasfbio or Lender's security would be lessenod, tha Insuranco proceads shall be applied to tha sums •
<br /> sacured by this Seeurity Instrument, whother or not then duo, wtth eny excess paid to Borrower. It Borrower abandons the
<br /> Proporty, or does not enswex within 30 days n notice lrom Lender thut tho Insurunco cartler hns ottored to settlo a claim,then
<br /> Lender may col!ect the inaurence proceeds. Lender mny use� tho proceads to repnir or restoro the Property or to pay sums
<br /> aocured by thls Securtry Instrument, whether or not then dua. Tho 30•day period wlll begin when the notice Is given. •
<br /> Unless Lender nnd Bortower othenvlso agreo In writing, any applicatlon of proceeds to principal shall not exten� or -
<br /> postpono tho duo dnto of tho monthly payments refertad to In pnmgmphs 7 and 2 or chanye the amount of the payments. It
<br /> under parac�raph 21 tho Property Is acqulred by Lender, Borrower's right to any insurance policies end proceeds resutting trom •
<br /> doma4o to the Property prior to tho scqulsiflon shall pass to Lender to tho extent ot tho sums by thls Security Instrument s
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<br /> —...—.--. - inu7�aannimj N,ivi iv u�v o..y..w�uv.�. '.' -�
<br /> � 6. Accupai�cy, Preservatlon, Malnte�ance and Protectlon of the Property; Borrowor'a Loan
<br /> Applleatlon; L883eholde. Borrower shnll occupy, establtsh, and u3a tho Property as Borrower's princlpul resldence wlthln •
<br /> slxly days nRor tho oxocutlon o} thls Security Instrument und shall contlnuo to occupy the PropeAy os 8ortower's pr[nclpnl
<br /> � rosldenco tor ut Ieast ono year niter tho dato 01 occupancy, unless Lender othenvlso ue�roes In wiiling, whftfi consent shatl not
<br /> � bo unreasonabty wtthheid, or unlo33 oxtcnuaang ctrcumstunces oxfat whlch nro boyond Borrower's conVOl. Bortower shall not
<br /> • i destroy, damago or Impulr tho Froperty, allow the PropcAy to date�iomta, or commlt wasto on tho Property. B�rtower shall bo In
<br /> � defaul►II nny forfeituro actlon or procaoding, whother cNll or crlminal, Is begun that In Lender's good falth {udgment could result
<br /> I In torfelluro ol tho Prope►ry or otherwlso mnterlaly ImpuU tho Ilen crcatod by thls Securlty Instrument or Lender's securiry Intcrest. �
<br /> � F131G.1M0(10/94) Faqu 2 ot 5 v . �
<br /> 9410)
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