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<br /> , • --..�_�..__��.��----------- . _...... 9 4-° �.:f u0'�� ,
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<br /> r TOOETFiEfi WITH all tho Improvemcnts now or h�reafter erected on the praperry, nnd all eaucmr.nt:�, nppuRencncc�, cnd , . _
<br /> fixlures now oP hcrcaftcr n pnrt ol tho praperry.Alf replaccmente nnd ndditlons ehall also bo covered hy thls Secudty IrtatrumcM. „�.�
<br /> All ol tho torcgolnp I� rolcrrcd to fn thlc Scr,urlry Instrument a3 tho 'Properly." .z'
<br /> 80RROWER COVENANI9 that Borrower Is lA�vlully nefzed o1 iho estuto hcrcby convoycd and hae tho rl�ht to flmnt and -
<br /> convoy tha Praperry and thsl the Property!� unencumbered, oxccpt tor eneumbrnnce3 ot rccord. Borco�rcr�vnrcanto nnd t��lA
<br /> doTend peneraliy tho titlo to tho Property nflelnot all clolms o�id demands, subJecl to nny encumbrances of recnrd.
<br /> THI9 SECURIiY INSTRUMENT combines unifortn covenante for nalionel use and �on•unif�rtn covennnto with Ilmited
<br /> vadnllons by Judsdlctlon to constituto n unitorm secudly Instrument covedng renl property. _
<br /> UNIFORM COVENANTS, Borrower nnd lendflr covenunt nnd apree ns followa: _
<br /> � I t,P�yment of P�Ineipal and Intereat; P�epayment and L.ata Chargea. Borrower ahell pramptty pny when } , -
<br /> due the princlpnl ot nnd Interost �n lhe debt evidonced by tho Noto nnd any prepnyment and late charges dua under the Noto.
<br /> { 2. Funda ior Taxoa and Insuranoe. Subject ta appfiwble lav� ar to n vrr[ttcn w�Ner by Lender, Bortower nhu!I pay �� 1 -_
<br /> � to Lender on the day monthty psymente are due unde►the Note,until the Note is paid In tull, a su P(�unds')egr 1�eea� ? :;,,r�,�
<br /> 1 toxas and aasassmenta whlch may uttaln pNodry over tcle S�C�`d�or�propeAy In u ance prem uma (tn ye`a►N Ao d Ineurance . _—
<br /> 1 payments or ground re�ris on tho Propet4y, if eny; (o) y rtyr
<br /> premlums. It any; (e) yearly mortqage Inaumnce premlum9,I1 any: and (� any sums payable by Borrower to Lender In acaordance x�,,.iT='
<br /> wlth tho provlslons of paragmph 8, In ileu o1 the payment of mortgago Insurence premlums. These items are called 'Escrow
<br /> Items.' Lender mny, at any tlme, collect and hotd funds in an amount not to exceed the mexlmum amount e lender for a ; �_,_
<br /> ledemlly rel¢ted mort�age loan muy requlre tor Borrower's escrow eccount under the federal Real Eatate 3erilement Procedures � = ' ,,
<br /> Act of t974 ea amended hom Ume to time,12 U.S.C.�2601 et seq. ('RE8PA';. unless another la�� that applles to the Funds ,r _:,.`:.,. _
<br /> . ... T..:y..
<br /> aets a lesaer amount. If so, Lender may,nt any timo,coltect end hold Funds in¢n amount not to exceed the lesser smount ::,-�. :
<br /> Lender may estimato the amount of Funds dua on lhe basia of current data and reasonable esUmates o1 expenditures o1 h+ture „ _. `:• rlr"'�-�
<br /> Escrow Items or othenvlse In accordance w(th applicable law. . ,�r s: ='�=-_
<br /> The Funds shall be heid In an instftu9on whose deposits are Insured by a federal agency,Instrumentelity,or enUty pncfuding 4 _�:�:�:
<br /> Lender, i} Lender Is such an InstituUon) or in any Federal Home l.oan Benk. Lender shaU appry the Funds to pey the Eecrow : ^�ym`�___
<br /> Items. Lender may not charge Borrower ior hoiding and apptying the Funds, annuaAyr analyzin4 the escrow account, or vodtying '. ,_ry��� ,�,_
<br /> P�. . •......
<br /> the Eecrow 14ems, un�ess Lender pays Borower interost on the Funds end applicable law permRa Lender to make such n „c-�uar��:==`—
<br /> charge. However, Lender may require Borrower to p�ey n one-time charge for an Independent real estete tax reportinp aervlce y:, ' y —
<br /> ;.;�i�xua:-:....._
<br /> used by Lender In connection with thls loan, unless epplicable law provides otherwlne. Unlass an agreeme�tt Is mnde ar __ _
<br /> eppllcnblo law requires Interest to be paid, Lender shall not be required to pay Boaower any Interest or eamings on tho Funds. �"-:�f:j,�;.
<br /> Borrower and Lender may agree in writtng, however, lhat interest shcll bo pald on the Fun�is. Lender shal glve to BoROwer, --u:,.,
<br /> without charge, an annual eccounting ct the Funds, showing credils and dehftg to the Funds and the purpose tor whlch eaCh '_�.^,-..�
<br /> debit to the Funds was made. The Funds are pledged es eddiUonel secudty tor all suma secured by tho Secudty InsUUment. x� __
<br /> fl the Funds held by Lender exceed the amounts permitted to be held by applicable law, Lender shall nccount to BoROwer '=�S?�.=-.�'•-- -
<br /> for the excess Funds In accord¢nce w►th the requlrements ot appiicable Iaw.It the amount of the Funds hNd by Lender at any �'�':��
<br /> time Is not sufflclent to pay lhe Escrow Items when due, Lender may so noliy [iortower in wddng,and,In such case Borr�wer , -____
<br /> shall pay to Lender the amount necessary to make up the deflclency. BoROwer shall make up the doticlency In no more than ,
<br /> tweNe monthty payments, at Lender's sote discretlon. •� "
<br /> Upon payment In tult of oil surns secured by this Secudty Inst►ument, Lender shall promptly retund to Borrower any Funds
<br /> neid'uy e.a���ei. 1! n^�rs,^..:'�3yro�ti ?�,i Pnder shatl ecquire or sell the Property,Lender, pdor to the acqulsfUon or sale of the
<br /> Property, shau appty any Funds held by Lender at the tlme of acquisftlon or s�le as a cretllt againsi ina aunis o�.s�� �'r���� ;` �i��`
<br /> Security Instrument. "����
<br /> 3. Application of Payments. Unless epplicable law provides othenvise, nll payments received by Lander under �� �#; +
<br /> paragraphs 1 and 2 shall be appiled: first,to any prepayment chargos due under the Note: second,to amounta payable under
<br /> paragreph 2; third, to Interost due: fourth,to pdncipal due: and last, to any Inle charges due under the Note. �r' �
<br /> 4. Charges; Llene. Borrower ahall pay all taxes, assessments, charges, fines and ImposfUons attrfhutable to the •
<br /> Properry whlch may ettain prfority over thls Security Instru hen2t,of d�not pald InBth tntmttnnerr BorrowereehellnpayBhem n Ume� ."�"n .
<br /> pay these obllgeUone in the manner provided in paragrep � ;"
<br /> directN to the peraon owed payment. Bortower shall promptly fumish to Lender all notices ot amounts to be pald under thl�
<br /> pamgraph. It Borrower makas these payments directy. Bortower shall promptty tumish ta Lender recelpts evldencing the ; "i�
<br /> payments. �
<br /> Bortower shall promptly dischnrge any tien whlch has priority over ihis Security Instrument unless Bortower. (e)agre2s In ,'�
<br /> writing to the payment ot tho obllgatlon secured by the Ifen In a menner aceeptablo to Lender, (b) contests In good fa(th 4he ,. ��
<br /> Ilen by, or dafends against eniorcement ot the lien In, legel proceedings which In the Lender's opinion opereto to prevent tho ,�,.' .,
<br /> I enforcement ot the Iien: or(c) secures from the holder of the Ilen an agreement satisfactory to Lender subordineting the Ilen to
<br /> thls Security Inswment. If Lender detertnines that any part oi the Property is subJect to a Iien whlch may atteln prfority aver this �
<br /> Security Instn�ment. Lender may givo Borrawer a notice identityfng the Ilen. Bonower shall setisty the Uen or take one or more ot �'
<br /> ithe ectlons set torth above withln 10 days oi lhe giving cf natice. I
<br /> I 5. Hazard Oi Property Insurance. Borrower shall keep the improvemenls now existing or hereafter erected on tha
<br /> � Properiy Insured agalnst loss by tire, hezards fncluded within the term 'exlended coverage" and any other hazarda, Including �'!
<br /> ' floods or tloodtng, tor which Lender requires insurance. This inswnnce shell be mulntnined in the amounta end tor the periods ' . �r
<br /> that Lender requlres. The insurance cartie�• provlding the Insurence shell be chosen by 8orrower subJect to Lender's approva! i ' r:
<br /> whlch shall not be unreasonabiy withheld. If Borrower fatls to malntaln coverage described ebove. Lendar may, at Lender's i �.; '
<br /> option, obtaln coverego to protect Lender's dghts In the Property in accordance with paragraph 7.
<br /> All insumnce policies and renewals shall be accepteble to Lender and shall Include a stt+ndard mortgage clause. Lender
<br /> shail have the dght to hold the policles and renewals. ii Lender requires, Bortower shall promptly give to Lender ell recefpts o1
<br /> pnid premlums and renewal notices. In the event of loss,Borcower shall gire prompt noUce to the Insurance cartier and Lender.
<br /> Lender may make proof ol loss it not made promptly by Borrower.
<br /> Unless Lender and Bortower othenvise agree in writing, insurance proceeds shall be applied to restoratioo or repair of the
<br /> Property damaged, i1 the restoration or repair is economicalty teasfble and Lender's security is not lessened. If the restoretion or
<br /> repalr Is not oconomicalty fensible or Lenders security would be lessened,Ihe Insurnnce proceeds shail be applled to the sums
<br /> secured by this Security Instrument, whether or not then due, with any excess pnid to Borrower. It Borrower abandons the
<br /> Property, or daes not answer within 30 days u notice fram Lender that tho insuranco carrter hes oNered to settle a clalm, the�
<br /> � Lender may collect the Insurnnce proceeds. Lender may use the proceeds to repair or restore the Property or to pny sums
<br /> � secured by thls Securiry Instrument,whether or not then due. The 30tiay peHod will begin when the notice is given.
<br /> I Unless Lender snd Bortower othenvise ngree in writing, any appfication ot proceeds to principal shall not extend or
<br /> postpona the due date o1 tlie monihly payments refcrred to in paregrephs 1 end 2 or chengo the amount o1 the peyments. It
<br /> under parngraph 21 the Property is ecqulred by Le�der. Borrovrer's right to eny insuranco policles and proceeds resulting from
<br /> damuge to the Property prior to the acqulsitlon shell pass to Lender to the extent of the sums by ihis Security Instrument
<br /> ' Immedfately prior to the ncquisition.
<br /> __� �Y,_�:.... ..s •tio Drnnorlv� Bnrrower's Loan
<br /> s. Occupancy, Pveserv�tion, mainienans6 t��ta� rtv�vo�..... ... «•- - •-r---�•
<br /> Appliaation; L885eho1dS. Bortower shall occupy, estahlish. and uso the Properry as Borrower's principai residence withfn
<br /> slxly days atter the execution of this Security Instrument and shall continue to occupy the PropeAy as Borrower's principal
<br /> residenco tor at least one year atter the date ot occupancy. unless Lender otherwise agrees in writinc�, which consent shall not
<br /> bo unreasoneby withheld, or unless extenua8ng circumstances exist which ara beyond Borcower's control. Bortower shali not
<br /> � destroy. damage or Impalr the Property, allow the Property to detcriorole, or commit waste on the Property. Bortower shall t�e in
<br /> ' dotault if any lorfeiture action or proceeding, whether civil or criminal.Is begun that fn Lender's good falth�udgment could result
<br /> In tortelturo ot the Property or otherwise materially impair the lien created by thts Seai�ity�nstrument or Lender's secumy Interest.
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