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<br /> - ,.; � Bp1�RQV�t CO�i�VAN'i'S that Bortower is[awfuUy se'ved of th�estate hereby conveyed ond has the right w�raat .
<br /> - � :�:•�';�` _ � and caavey the Progetty aad that the PcogeRy is uneiecvm�ere�.esoept far cncum6rnnces of ceQOrd. Bunowcr watrsnts und �' ,�"�.
<br /> � ." .�� _ will defend generally the dt�e to th�Prope�ty o,gmaxt ull claims attd demurtds.subject to any encumbmnces of record:
<br /> '� ` ` , ' , "`p
<br /> - ' ' UNIEOFtM CQVEi�iAN't'S. �
<br /> - . .���f, `;`'.:.;� l. II85rmEat of PtQit�g�4.�ntesest a�.I.mte C6ar�� Batrowet sh�l!Qny when due the prirtcipai of.sad inte�est on. ,
<br />�� the debt evidenoed b tae Nete and t�te chauges du:under ti�e Note.
<br /> - `_r < _ ' 2, Aio�thRy�ymteut ef'�nac�,tteas+su�aa�c�d�ther Q�a�� Borrocver s6siq�nc[ude in eacfi monthiy payt�teat,
<br /> -- .� toget�er wi�i the prinsipa4 and Inf�.ct a4 set fattfn in �tse Not� �0 �y late cdiargrs.s su� far(o?tu�aaQ spesi�l
<br /> ,; . a��,ssments t�.wi� m to be [evied ugaimst t�e Propeny. (b) teas+ehotd pa�ments or grouad ceafs on the Ptoperty. end
<br /> ..',�f- � t' (c)Pr'emiums fior iasusauce erquim�uader Pt�agrapl�4. In any y�►r in which the Leader must pay s►mongage insurance , .
<br /> ,, ��. p�auutn ta ttt�e Sec�etnry af Housing and Urbaa�evelopment�Sec�4acy).or in any yetu i�vlhich suc�premium would ,_
<br /> e . '
<br /> � . ' � have been required if L�der still hel!the Secunty Instrumen�eaeb moatlsly payment shFill aL�o iaeAcde either:(i)u sum for •:; ,�
<br />- . ;_3 , eh�annnal mort�age insurance pYemium to be paid by L�er m th�Sernetary.or(u)a moathty churge instead of o mortgage ,,.-:.:
<br /> +, �. insur�nse premmm�f t3�is 3�urity iast�mc.nt�s keid by the Secmmry.ia m ceasonabie atnount m be Qetemified by the ; ,
<br /> _ �� `.' •f`-:�` gesretary. Except far the�aonthly charge 6y the Serretury.these items are called"Fsc�aw ttrcrtis"ana the syms Qaid ta I.ender ;„;r:,
<br /> � ;. :;, aret�tfed"FsciowF�ds." ��-
<br /> . . Lender may,at any 6me,oollect an�hold�ount�for Fsc,raw Items w an agBregate amouat not w exoeed ths maximum
<br /> - amount that may 6e�u�ed for Hot�owds esecow r.coount umder the RG�1 Estate 5euleenent Procxdures Aet of 1974. IZ .' r:
<br /> _ � . U.S.C.§ 3601 et r�. and imp2emenbag ceguL�tions, 24 CFR Part 35U0. as they m�y Qe am�d�d fmm tane to tim�e �'��x.
<br /> m �f��::.
<br />- _ (°p•ESPA"1��xcept t i t a t t�e c u s 6 i aa ar t e�v e g e r m i i a e d b y R�S P A f e r u n a a t i c i p a t e d d i s b u r s e m r nts or disbutsemcnts�efore %l�r.
<br /> ` ' the Borcower's payments sre ava�able in ahe atioaimt ma aot he 6ased on amounts due far the anortgage insuranoe premium. .-
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<br /> ;`� �, ' :'�: . � If the emowtts hetd by Leader fot Fscmw Itcros txceed the amounts�Ued tn.be held by RESPA.Lendet shall de�al �`'Y�=`
<br /> aritb d�e exces�fonds as reqaued by RFSY�A. �f the amounts af fuads�etd by tendec rit any 6me a�e�ot s�d�cieat w pay the
<br />_.� ' • ' • , gsccow items when dne.L.eadea may notify the Borro�and requine Borrormr to make up the sAortsge ar,deficieacy as ' •• _.._
<br /> ,�:,;.:.:_ _
<br /> :., '' .:<.-}�. _ . . .-�- - - - - - - - - - -$ • c-If� .. �:�
<br /> . ., ... ,',..r per�nittec�.bp_ItESPA.... .
<br /> 1.. �
<br /> ,� �,. f.' . 'lhe Esscaw Funds aie pfedge��aR a"Qdidoaal seciiiity for�all sui�ts secu�sed by this ewrtry is�snvmen �ortower -
<br /> ;. � �`� �,"''^` oeaders to Lenda'the full paymeat of aU sach sums.Barrower's aroount shall be credioed aith the bal�nce remaining for s�U
<br /> .+J`.�"
<br /> ,_ ` . instaII3aent io�ms(a�.tb),and(c)and anY mnrtgaSe insw~aace premium insmilmeat that Iender has aot beoome obt�gatrd ta �__,-
<br /> •' pay to the Secretary.aad Le�der stiaD Pm�DUY refiued any eaoes�fuaQs to Bormwer. Prnmediately prior w a fom�tosute saie --
<br /> ��A�;•'� of ttie Property or tts . .. n by Leader. Borrowe��s axoutst shall 6e c�d.ited �vith any balauoe m�aiaing fog ell . �%,�=-_.
<br /> , • „ •, ' instaIIinmts for irems(a), ).ead(c)• �.`i,N,
<br />- .�'.:. . • � �. APF�►t�n ad All paymsnts nnder t�ag=aptas 1 and 2 shall be applied 6y Lender as foliows: �----
<br />_ � . `;"�' ='--
<br /> ` - �3,�to dce mortgage_insmanre gzeauum ro 6e Qaid bY Lender t+o the Saxetazy►or w th$monthly charge by
<br /> �:�: • .� t�°.Sec�etary instead of the montNy mor�age insuraaoe p�miwn; . ��
<br />_ •';,:. , �to�y taxes.sp�ial assessme�t�. Ieazehold payments or group�cents.and f�te.k�ood anc4 o�her � _-
<br /> - . . ., , • haaBrd insurance p�miWms.agre�uued. � _:-
<br /> ,, . � •"• 'I'HIRD•co int�est d�se tmder the Note; � ��
<br /> � FpURTH,to amurt�adon of the primcipal of the Note; �_,,-�.
<br /> ':';:'';:':`,,:3;;�'�. s' �.,to tate charges due undes the No�.
<br /> ' QI. �YY+r,.Fiood and Other Ha�Iasarriac� Barmwer shaU insute all improveiuzats an the pi�aperty.whe�her now --
<br /> .:,r:;;,:; � asar a =_
<br /> .3�e�°:�5,,.`;"�'� �s` ' in eusrence or sabsequentty ere�,agaiost any ha7ard.�,ca.svatf�s,and oontingencies.including fi�for cvt�ic� II,�sdea =-
<br /> �`"";: � '` requires insumnce. 7tiis insuraace sf�n1l be maintained'm the amounts and fot the periods that Lender reqnu�.s. Ba�wea --
<br />_ � ':'°:' ' ,.' sl�all also msnre aD improvements on the P�up�ajr,whether now in e�astence or subsequently erected,against toss by ttoods .� �
<br />:�.�';,�,-'_,�.,�,.,,.,�.�� � w the extent nequired by the Sesretary. All in�uuz+��e shall be caieied with companies approved by Leuder. The insuianoe �_
<br />- .;= . �:, �, policies and any renewats shati be he2d hy I.eader and shall incdude Ioss payabte cla�ses in favor o�and"m a form aecegtable _-
<br /> -. ' f.°'� '• �;t �Os�.L.Lr' t�l.
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<br />_� , .;+�.:.�. , ,,,,._.. �' � , �s the event of loss.Bomower sball give Ixuder immediate aodce by ma�. Lenda may makc psoof of Ioss if�eot utsude
<br /> ..`-�-�� -• dy b Bmrower. Each insivaace company conoemed is hereby authorized aad din�Cted to�ake paymeat f.or such loss
<br /> •;-+�..-...�
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<br /> y to .'sstead of to Borrawer aad ta Leada jointty. All or any part of the insvrauce pmceeds m�Y��PP�bY
<br /> 3��� � ' Lender.at its op�a�either(a)to tLe nductfoa of the in�Ebted�ess under the Note aad this Securiry Instruaaw►s.t'ust w aey
<br /> _ delinquentamountn�gplied in the order in P ph 3,�d t�en to p�epaymentof principal.or(b)t�'the�esoo�oa oz repair
<br /> �_�_�•. of the damaged P�P�Y• �Y aAPlicatimn of e proceeds to the lmnc�pal shall not exteuJ or postpane the dae date af t�e �
<br /> - -- - -' monthly payments whish ate c�'r�ed to in Paragrapb Z,,ar�ange the amowt of sucp�ay�a�. Any exoess iasr�y:.se —
<br />_l�`""°``=`;�'=' proceeds over an�nunt t�ui�to pay all ontstanding indrbtedness undgr the Note and ttds Seauiry Instrarnent sL�.�be
<br /> i ,���'F��!>� paid w the eatity L�y en6 ed the�w. '� � �
<br /> ."`�'':.•r :'" , . In the event ef forecIosare of this Seca�g Insuumeat or other trr,���r of dtle tn the Prugaty that eati�guis)�es die ; =_
<br />�; _. ,.; ' iud�3aess.all rigt►L tiUe aud intesest of Bosnv�er an aad to insurance policies in foroe shaU pass to the purchase�. . _
<br /> �;: '". , n =
<br /> - .� ,�'� • g„� pocupanc9, Pr¢serva�oa, M91n�e aa� Fi�"r.ct2on o!the P�+a9eNy: Bo�wei°s Loan Apptica�nn; ---
<br /> -r'''�'�' establish,ane use the Pt�v�i as Borrawer's princ+pal r�esidence arithin sixty d�s aRer � -
<br /> �;fi� � I.eas�hoids. Botrower shaD occepy, -
<br /> `"'� � the eaecudon of tl�is Security lasxument aad�1 continne to dccupy the Pnaperty as Borrower's principal residen�for at
<br />"�����,�:;�4� n aar aftr�.C3r�date of an ,c�1t�a the Setretary determiar�s'c�s t�girirement w�l crsnse undue haids�ip far =
<br />-1t���, - teast o e y �F �Y �;_:
<br /> ,y�,�';`�� Bormwer,or unt�s astenuating ciranmstm�ce��sis't wluch are!►eyond Haaisrtaet s control. Basrawer shaU notify Leaders of
<br />., w�.�,,_��::�:�� ' any e��tenuating cirtn�sfaact�s. Bartower�cot comimt waste ar desau�+���ama$o or substantialiy change Q�e Prapeny or . . �:�
<br />':., "r:,:_•,,::�`�...� allow the Propert3r to deteriora��,c�asam.�fi,e�-ear and tetv excepteA Leader may uispact the Pc�nperty if the Property is
<br /> '• �4`'�' � '��-�' vacsnt or abandoned os the laa�is in d��i. Lend�may take reasnnabfe adion toprote;ct and pres�i+e such vacant or '�
<br /> °;,,•.';'`'"�"x' a eppltt�tion pmcess.$e -
<br />_�r . s�.�Y:,� :v�-,���; , abattdoned Praperiy. Borrawer shai!also be i�.default if Borrower.daria„the loan ve materially false
<br /> ; ,. _ - F• or inac�,v�ai�infas��ation or statements to Le�d'�(or failed to pmvide L�r with any material information)in connecttan -`-
<br /> ' •�'j� J� . : ; with the loan evr�d b�the Note,inclu 'dcr�ar(nat aot limited to,.mps�c�flons concRt�iag Hmrowei's oaupancy of We , �'�`�=_
<br /> ' . . •� Fsoperty es a priaciDal res�deace. ff this S�'�'�+Ins�um�nt is on a k�se�o'rd.Borrower shall camply with the pmvisions of
<br />'�� " the i�ease.If Botrower aoquires fee tide w the Ptoperty.the Ieasehold and fee title shall not be merge.�1 anless Lender agees to _ _
<br />- ':� � :. the n�rget in�vritittg. � �,�:';
<br /> t 6. Charges to Borrower eatl Plrotecdnn of d.ander's Aights tn the Froperty. �orrower shall pay all gov�r:�tal ;;t•.;.
<br /> T�... ...�_.,.=��` �,. or municlpal charges,fines�d,imposidons tLat are not included in Fsragxaph 2. Borrower shal}pay these o�ligatia�an �
<br /> ��,,;,r � � time di�+ectly to the entity whioh is owed the payment V failure to p�y�ould advetsely affed Len�er's iaterest ia ttie
<br /> .. ., er'
<br />-�`��.. . � �� Prope�y,upan Lende�s request Homoiver shall prompdy fumish to Leades c�eipts evidencing these pa}rmeitt�. . • :
<br /> �..4 ."y".° - If Bormwer faiLs to m�Ice these paymtints os the puy�tceats required by Paragrsph 2.or faiIs to per[orm any e:her :• .:..
<br /> ='�= '� ;,• ;�. � : �• oovenants and a�reements oontaiaed ia this Sectuit�Insttumeny or thEre ls a legal proceeAin�that may significant�gr�ifect
<br />° ' - Lende�s rights m ths Properry(sucb as a proceedmg in bankruptey,for condemnation or to enforce laws or ngWatcons),
<br /> t
<br /> - ' tHen I,ender tnay do add p�y whar�ever is nece.�to protect the.vtilue of tiie Property ena Lender's rights ln the Prop.-rty, , .
<br /> - , ` • . incIwling paycaent of taxes.h�vurd insnrance aad other item9 rnendonedin Paregraph 2. • �
<br /> `�� �� � • ' Any amounts dis6ursed by Iender under ttils Pamgraph s�all besome an eddidonal debt of Borrower and be secured by
<br /> '` this Sec�mty.InsWmsnt 'l7iese amounts shall bear intere.st from the date of disbursemen�at the Ptote rate.aad at the oprion . �.
<br /> , . , of ieader,shall heimmediately due and payable. '
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