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<br /> UNIFORhi CUVE1�fAMCS. Borro�vcr and Lendcr covctiant nnd agrcc as follows: " ' �:_
<br /> � ° 1. I'iiyitier�t of I'rlacip�l nnd Interesh �[��wyment ancA I,at�CGur�es. Borrowcr shall promptly pay when due thc ��
<br /> princi�al of and interest on the dcbt cvidcnred�►y thc Note and uny prcpayment and lntc charges due undcr thc Note. � •i:
<br /> Z. I�um�1�Por'd'nxes nnd Hb�suti�apce. tiubject to,�nnr�,a�i�law or to a written�vaiver hy I.c:nder, Borm�ver shall pay to
<br /> l.�;ndcr on thc da fi1011llll �yment�v�t1L'C l�ndr!141L'�QIC Illtlil I�:::MUIC�c�?nid!n[R�,Pf SUIYI ("Fi�nr,(�" f�r: (��yr.i�f�Y I:1%CS .
<br /> iind assessmcnts vh�cl�m•�y uttainp riorit over this Sccurity ln5trumcnt as�i licn on thc I'ro crty;(b)ycur�y leas��hofd paymcnts � -
<br />_ , ° ar ground rente on the Property,it uny;�)yearly hai,ard or roperty insuraacc:premiuras;(d)yearly tlood insurunce premi�ms, �
<br /> • if any;,(e)yeorly mart�agc rosurance-premiums,�f uny;and(�any sams payable by Botrower to Lender,in uccordance tvith tlta - . `=
<br /> ' rrov�s►�ns af purns,ruph 8, in lieu ot tl�e paymene of mortgage�nsurunce premiums. These items are called "Bscrow Itemn•." . ' 'r'
<br /> I.cn dcr m�y,u t uny timc,,co l lcct an d ho l d F un dn in uu umount not to excce d t l�e muximttra umount a len der for a fe der a l ly re late d ' -. �
<br /> ��� ': ° � mortg��ge toan a;ay rcyuire for 8orrowcr's escrow account under the Cederal Reid Estate Settlement Frocedures Act oF 1974 us � �
<br /> •., .,
<br /> - amended from Ume to timc,12 U.S.C.Scction 26Q1 ct seq.("RESPA"),unlcs.s amathee lav�that applics to the Funds scts a Icsscr �;;%
<br />_ : �� uraott�t. If so, Leudce may, ai iwy!iiuc,coUect aud Luld FwiJs in an urnuunt not tu exc�ed t�i� l�ssrr a►nuunt. L.ender muy �� � �
<br /> ,� cstimatc the iunount of Funds due on the basis uf current dpia and reaFOnuble estimates of expenditures of future Escrotv Itcros ^
<br /> . ' }I• or othenvise in accordanw tvith ap,pl�cablc law. �� �"
<br /> --�" The �nds shall be ht;ld �n an institution whose de asita asc insurcd b a federal agenc , instrumeneality, or catity �
<br /> �y u
<br /> ; :�� '"'�" �including Lender,if Lender is such an institution)or in any ederal HomG Loan ank. Lcader shal!apply the�nds to pay the ,
<br /> Escrow Items. LendGr may not charge Borrower for hoidia�and applyin the FY�nds,annualiy analyzing the escrow account,or I ,.
<br /> verifying the Escrow Items,unlcss Lender pays Aorrower interest an the�ds and apglicablc law perrmts Lender to m:ilce such �
<br /> a cha�ge, Howevcr,Lcndcr may req,u'ue Banower to pay a one-time charge for an ind�e�pendent rea7 estate tax rcporting scrvicc
<br /> � used by Lender in c�anection w�tli ttas loan,uuless applicable law provides otherwise. [Jnless an agreemcnt is made or ap plicable
<br /> � � law requires in[etcst to be paid,Lender shall not be required to pay Borrower any interest ar eatnin��s oa the Fttnds. Borrower I
<br /> • and Lender may a�ec in writing, however, that interest shall be paid on the Fttnds. Lcnder shalr�'ve to Borrower without
<br /> , ; charge,an annual accounting of fhe�nds,shotving credits and dcbits to the Funds and the pwposc For which each de�it to the -
<br /> Fl�nds was madc. Tha Fliads are plcdged as addiUonal security for all sums secured by this Security IastrumenL .
<br /> " lf the Funds held b Lender exceed the amounta ermitfed ta be held by ap licable law Lender shall account to Borrower '
<br /> — for the excess F�nds in a�ordance with the requ�iremen�5 of applicable law. If the amount o�'the Fbndc held by l,ender at uny • '
<br /> :�� ' . timc is not sniHcient to pay the Escro�v Items when due I.ender may so notify Borrower in writing,an m such casc Bonowcr � �� .F
<br /> '- shall pay to Lender We amouat necessary to make up t}�e deficicncy. Bonower shall make up the de�ciency in no more than �
<br /> ;� lwelve montWy payments,at L,ender's soIc discretion. � � ' . -
<br /> ., . Upon payment in full of all sums secured by this Security instrtunent,Lender shall promQdy rc;fund t� Borrower any '
<br /> �mds 6eld by Lender. If under aragraph 21,Lender shall acquire or sell the Property,Lender,pnor to the acquisidon or sale
<br /> �� of the Pro�erty� shall appYy any�nds held by Lender xt the time of acquisition or sale as a credit against the swns secured by , '.
<br /> . � thia Secunry Instrumeai. ( •
<br /> • 3. AppNcaQlon of Paymentv.Unless applicable la�v provides othenvise,all paymenes reccived by Lender under paragraphs � •
<br />'—�.---.�-�__. � and��tiwllliP annl�P.i: fir�t.to anv nrr.naVment rharaeS�IUB Und�r thG NniP;crrnn.l to amotmtc navNhle nnder naraerapk 2: �,..-- -_.:--_--_.__:...:
<br /> , � ,.. third,to interest due•fourth fo principal dde; and last;to any late chargcs due ttnder Ihe Note. ' ' ` ' '� '��°
<br /> 4. Charges��Uene. �Borrower shall pay all taxes,assessments,chazges,fines and impositions attributable to thc Prope,rty �
<br /> �:� ' which may attain pnority over this Security Insfrtunent,and leasehold payments or gound rents if any. Bonower shaU pay f�ese f ' �
<br /> obli6ations in the manner provided in paragaph 2 or if not paid in that manner,Borruwcr shal�pay fhem on time di�ectly to the .'•!�-
<br /> , .. � person owed payment. Borrower shall promptly�'urnish to Lcnder aU notices of amounts to be paid under tWs paragraph. If
<br /> B o r r o w e r m a k e s t h e s e p a y mCn t s d i rc c i l y,3ur r o w e r s u a ll p r om p U y f u rnis h to L en der receip Gs evi dencing t he paymen t s. I ���
<br /> , Borrower ahall promptly discharge 3ny lien which bas priority over this Security Instrumcnt unless Bonower: (a)ag ees � ;"
<br /> � in writing to the payment of fhe obUgation,secured by the licn in a manner acceptable to Lendcr, (b} contests in eood faith the L_.__..—��
<br /> ,; - �� • - lien by, or defends against enforcement oi the lien ia, legal proceedings which m the Lender's opinion operate fo prevent the �-�� —
<br /> "��� ' enforcement of the lien; or(c)secures from the holder of the Gen an agrcement satisfactory w Lcnder subordinating the Gen to �
<br /> . this Security Instru�uent. If Lender deterraiaes that any part of the Property is sub'ect to a lien which may attain priority over
<br /> iu
<br /> this Security Instrument Lender may gv,e Borrowcr a notice idcntifying the lien. �orrower sball satisfy the lien or takc one or � .,. �
<br />, �, more of the actions set�'orth above�tiun 10 days of the gving of nohce. I .
<br /> ° 5. Hazard or Property Insuraace. Bonower shall kecp We improvemcnts now existing or hereufter ercctcd on thc j , � 4;:, .
<br /> •� Prop erty instucd agaiast loss by 6re,,hazards included within thc term"extcndcd cover�se"�nd any other f�a7.ards,including floods � `� : ; i
<br /> " •. or t�oocGng,for wli"ic.h Lender requucs insurance. This insurance shall be maintained in thc amounts and for the periuds that � • ; ��
<br /> Lender requires. The insurs�ttce carrier providing the insurance shall be chosen by Borrower subject to l.ender's ap roval wliich ! ,'!�i..-.•
<br /> • s 6 a ll n o t b e u a r e a s o nab ly withheld. If Boreower faiLs to maintain covera�e described above, Lcnder may,at Len�er's option, i ,
<br />_ obtain coverage to protect Lender's ri6hts in the Property in accordance wUh paraQraph 7. � �
<br /> � All insurance policies aad renewals shall be acceptable to Lender and chall include a standard mortgage clausc. Lender "'
<br />, shall have the right to hold the policics and renewals. If Lender requires Borrower shaU promptly give to Lcnder all receipts r `�.,.�
<br /> of paid premiums and renewal noticcs. In the cvcnt of loss Bonower s�all gi�•c prompt nodce to the inswance carricr and �
<br /> Lender. l.ender map make proof of loss if not made promQt�y by,Bonower.
<br /> Ualess Leuder and Borrower othenvise agee in wn ,wsurance procecds shadl be applied to restaration or tepair of � - .
<br /> . � .. the Property damased,if the restoration or rep air�s economi�y feasible and Lender's security�s not lessened. If the restoration �
<br /> ;� ot repau is ttot economically feasible or Lender's sccurity would be lcsscned,the insurance procceds shall be applied to the sums � '
<br /> sccurcd by this Secnrity Ynstrument,wheiher or not then duc, with any excess paid to Borrower. If Borrowcr abandons the ;
<br /> Property,or does not anawcr within 30 days a nutice from Lender that the insurance carrier has offered to settle a claim,thcn •
<br /> .� Lender may collect the insurance proceeds. Lender may use the proceeds to rep:ur or re;store the Property or to pay sums secureJ �••' .
<br /> . by Wis Security instrument,whet6er or not then duc. Thc 30•day period will be:gin whcn thc notice is pven. "
<br /> . Unless I.ender and Borrower otherwise agree in writing, any application of proceeds to princapal shall not e�end or �
<br /> .F postpone�he due date of the raonthly payments referred to in paragaphs 1 and 2 or chan�e,the amount of the puyments. [! • �'°�
<br /> � • under paragraph 21 the Property is ncquired by lendcr, Borrowcr's n�ht to any insurancc poLcics and proceeds resulting from
<br /> •� . damage to thepraperty prior to,the acquisition shall pass to Lender to the extent of the sums secured by this Security instrument
<br /> „ immediately prior iu the acquisition.
<br /> 6. Occupancy, Preservntlon Mnlntenunce and Protecdun uf the �ropetrty�Boreawer's Loan Applics►Ur►n;Leuseholds.
<br /> • _. Borrowcr shall ouupy,cstablish,anc�usc the Property as Borrower's principal res�dcnce within sixty days aftcr the exccution of
<br /> _ •� this Security Insirument and shall continue to occupy the Property as,Borrower's principal resideuce for at least one year after
<br /> , „ the date of occupancy,unless Lender otherwise a��rees in wriiin�, �vh�eh eonsent shall not be unreasonably.withheld,or unless � �
<br /> ., extcnuatin�circumstances exist which are bey,ond Borro�ver's wntrol. Borrower shall aot destroy,damage or impair the Property,
<br /> , allow the Property to detettioratet or commit waste on the Property. Borro�ver shall Ue in dcfault if any forfciturc action or �
<br /> proccedings,whether civil or crimin�l,is bcgun that in Le.nder's good faith judgnent could result in forfciture of the Property or
<br />_ � otherwi.se msterially impair the lien created by this Secnrity lnstrument or L.ender's security interest. Bonower may cure such ' •
<br />-- • a defau3t and reinst•ate as providcd in paragap h 18,by causing the action or proceedir��to bc dismisscd with a ruling thxt,in
<br /> , Lcndcr's good faith dctermination prccludcs Forfeiturc of tlie Bonawer's interest in the Property�ir othcr matcrial impairmcnt •�
<br /> - of the lien created by this Security�nstrwnent or Lcnder's security interc:st. Borrower shall also be ui dcfault if Borro�ver,during
<br />- tl�e loau applicaticm process, �avc materially false or inaccurate information or statements to lcnder(or failed to provide Lc:nder
<br />_ �viW any,material information�in connection with the loan evidenced by[he Note,includin�,but not Gmited to,representations
<br /> concernm�Bonower's occupaucy of tl�e Property as a principal residence. If this Security Instrument is on a leasehold,Borrower
<br />-. sUa11 comply with all thc provisions of thc lcase. If Borrower acquires fee tide to the Property,thc leasehold and thc fce title shall
<br /> "� not merae� unless Lender agrces to the mergcr in writing.
<br /> 7. ProtecNun of LendeNs Rlghts ia the Property. If Borrower fails to petf�rru the covenunts and ageements contained
<br /> in this SecurityLln�trument, or the;rc is a legul proceeding that may significantly affect L.ender's ri�Itts in the Propertv(such:is a
<br />_ _ ------- pivwca�i�u• �n unun�uMtcy��nuvatc� iur cvndes,naiion or iorieicure or to enioree taws or re�flhODS�� UICIl L{:IIaCC 111�1�'(IO 41q(�
<br /> .. pay fur w�iatever is necessasy to protcct thc value of thc_Property�and Le:ndcr's ribhts in tTic Property. Lcnder's act�ons may
<br />_ �nclude paying any sums secured by a lien wliich has prionty over this Security Instrument,appearing in cot�rt,paying nssonsblc
<br />_ ,. , attorncys'tecs and cntering on thc Property to mukc repairs. Although Lendcr may takc act�ou undcr this paragruph 7,LcnJcr
<br />-- • docs not havc to do so.
<br />- . Auy umounts disbursed by Lender under this�arag aph 7�hall become xdciitional debt of Borrowcr secured by tlus 5ecur-
<br />= itp Instrumr.nt. lJnless Borrowcr and L,endcr agrcc to othcr terms of paymcnt,thesc amounGs sh:�ll bcar intcrest from the datc
<br />_ � of Jisburscmcnt ut thc Notc r:�tc and shall bc pay:�blc,with intcrest,upon noticc From Lcndcr to Borrowcr requc.ting aymcnt.
<br />_ „ 8. Mort�tt�e Ineurnnce. If L.endcr rcquired mor�6aae nnsurancc as a condition of making thc loan sccurc� by this
<br /> ` � Sccurity Instrumcnt.Borrower shall pay the premiums requircd to maint�in thc mortgage insurancc in cfFect. If,for any rcason
<br /> tlic mort�agc insurancc covera�c rc qu�rcd b y Lendcr(c�pscs,or ccascs to b e i n c f f c c t B o rc o w c r s h a l lp a y t h cp r e m i u m::r ey u i r c c�
<br /> _ ., to abtain covcra�e substantially equivalcnt to thc mortga�c rosurnnce prcviously in c�`fect, at u c�st su6stantially c uivalent fu the
<br /> - , cost to Borrowcr of thc mo:t�a gc rosurancc prcviously m �f Ecct, from an a ltcrnatc mortga�c rosurer approvcd�y Lcndcr. If
<br />._ substssntially cqui��alcat mortga�;c insurancc covcragc is not�vailuble, Borrowcr shull pay Co�ndcr c:ech month;�sum cyual to
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