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<br /> -- `��"��! ��°�"�� . BORROWER COVENANTS ahat Borrower is�lawfully seizai of the estate hereby rnnvey�d and tws the rfgh�to gmnt �<. � �.
<br /> `,'..5 , " aud sonvey the P m peny a a d t h ai t he P r o�e rt y i s.n n�n c u m 4 s e c e d,ex c c p t for encumbrnaoes of mard. Boirower wsuraats aad� .
<br /> ,. ::'•;.�.::.:".:• ,. wi91 defend genera}Iy the t►fle w die Pro�ty againsc all claims and demands,sub,�ect to anY encumbranoes of cecord. � . `, .
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<br /> _—- ,}_4'`_ ___ _ �' ' . , lJa`/li�LYV���.�V•�G}l��IFI��Gi��L�ip LViiu�::�S••�-S�j�iSis iiLSZ:� �nni a��2.A�.� 10 11A_ ,- - __
<br /> .- ' ' .. , �7..+w..���t� � ._ ,
<br /> ;� � the debt evidenoz�by dre No�and laie charges due uader t�e Note. Bo wer snall inciude in eac6 montL2Y PaS��
<br /> - _� _ - 2. F.i�pth�y�y�ns�R aY�ese�►I�bsnra�saal�tha�r CGutges. r{o:
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<br /> -- `R' . wget�ea witb the prindpal and wtecest as set forth in the Note sn@ any lute charges.a sum for.ta) taxes ana sgec3s�i
<br /> �'��;� . . assessrneats ievied or w be ievied against the Property (b) Ieasehold pay�ent� or gcnuad zents on t�e Ptage�iy+.and
<br /> ------ ` i�j��f!*r.�n�,vance requi�d uadet P�agraF6 4. in any ye�in w�ich the t�ender must�ay a mortgage�� �_
<br /> r�-•.,f�•T.��`°_�`�-- nm ta the SeccrxarY of Honsing and U�nan Deveiopm�ni("becce�Y").or�any year ia w,uec;,suc���� ' �:�_'
<br /> .. . ;''. ave 6een required if Lender still fletd ehe Sec�iry insuument,each moathlY Payment shaU also inaIude eitfier.(i)a sum for 4:�.'..'
<br /> A ' the annaal martgage�nsurance premium to be paid by Leader m the Secretary,or(�a montlily charge ins�ead of a�origage •
<br /> �' . insuranoe piemium�f this Sec�mry Insaument�s E�cld by the Seaetary, in a reasonable amo�t Ln be detennined by the . .
<br /> ;:' �,: ,: -. • S�etary. F�ccept forthe a�ontblY ckar�e bY the Secretary,these items ac�calied°Fscm�v Items"aad t6e sums paid to Leader •�„5.'.`
<br /> � ' ac�e caIIed°Escmw Funds."
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<br /> Lender may.at any time.coIIect arcd hold amnunts for Fsc�+ew Items iu an aggcegate amonnt not to exce�d the�aaimnm
<br /> - . ��t�t ma,y be ne�uued for Borrowel°s ess�ow acea�nt under the Real Fstate S�t Pmoedares Acx of 1974, 12 '.-
<br /> ' U.S C.� 2601 et sea. �d �rip_Iementmg t+egalations.24 CFR Pjut 35U0,a� they may be amended from time to time ,
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<br /> , '�°�• ',,. • ("RESPA"),except that tbe cusluoa or resenre permitted by RESPA for unanucipai�eri disbursemeats or disbmsanentg befare
<br /> the Baaowd s paymenLs�e awa�able in the acoount may nos be base8 an aaaouncs due far tite neortgage iusucance pnemium.
<br /> , ' . if th.e amounts 6eld by Leader far Escrow Itsms exc,eed the amoun�.s getmitted to be hefd tsy RESPA.Ixnd�r sball deal . -
<br /> � . � . with�he excess funds as reqoare�by RESPA. If the amounts of funda held by L.ender ai any 4ime aze not su�c'senYto pay the .
<br /> -- =�` __-.,; Escraw it�s whea d�Lender may notiffy the Boaower aud.reqnae Boim�ier to make vp,the shonage or ddciency as -
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<br /> � ".�..:. -._.......... permittedby;ItESPA:-. _.... _ .-�---.._. . .._._..--�- �---._. .._ ..--- --------
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<br /> . .. �e Essmw Funds are pledged as additionat se�ity for aIl s�s secared by�is Security�n ,ment �Boiioviier�� , :
<br />- •.. �_��. tenders to Lender the fiill pagment of all sucb,swas.Bomawe�s account si�all 6e creditEd witb t6e balance remaininS far all u_
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<br />- ��`.�,jr;��.'.,;�� i�ent items(a),(b�,su�(c)and anY rnortgaSe ins►uance premiiun instalhnent r�Lender has not b�me obli to F L
<br />- :;,', '�`';,, t. r� PaJ+tQ the Sec�tar�,and ls�der s6all pavmP$Y refimd any.excess funds w Boqrowet Immedi�ly prior ro a for�clos�sale ��,
<br /> � . �1si.'� , ��- ' 'tionall Ia�ider, Bonuwe�s ascouat s5a11 be ccedited with any 6alance remaining�for sU �;:�,�
<br /> ' s�,.., .`�`. af-tEie Fmpeity..,ur its. bY.. • - - - .. -
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<br />_ : . ',`":�,r`�,s�`-�` <'; � .ittstallments for items(a) ),and(c).All a ts nader Faragrdqshs 1 ead 2 shall be applied by Leader as fottows: ' . �"�.
<br />_:� �?�."�;::;- '�;� ' 3. ApgUastion o���� P Y�to be�paid by Irender to tbe Seqetar�►or tn the monthly ohar8e bY. , �
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<br /> „�,- g��w the mmt�ag P� $ �;��,
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<br /> ;�:.�:.�. . � the Secretary instead of the monthly mortgage insuranoe premi�ttn; . ---
<br /> : . � .� �EiCOND.w any taxes.special assessments.leasehotd paymebta or groaad rems,and fu� ftood and other . �
<br /> r ` ' ha�rd insuraace piemiums.as required. �_--
<br /> J'� . � �to intenest due under the Note; • � � • • �
<br /> . .� �g3 T,�I,to amostizafion of the priucipal of the Nate; :. .. ¢}-�.:::,
<br /> : ,' _ � . �,to iate charges dice under the Note. ' .
<br /> z_„�.`', .: 0. �re,�Ioo�e�Eb`�2r Hazsrd Ias�ra�ace. Bomower sball ins�c aU img�+mti-ements on the Propeaty.wh�iter now . _-_- .
<br /> = � } . in exLstence or subseque��?�ereMed,agaiast any bazards.casualties,aad contit��cies.inctuding fue. for w��Y.ender --
<br /> . � requires insuraace. 'IYiis insurance shaD be maintaiaed in the amounts and for the periods that Lender requins.'Borcoa�er • �.�
<br /> ',��,`. . . . ,' shaU also in.svre aU improvements on the Ptoperty.whether now in existence vr subsequenUy erected.against lass by floads ��
<br /> ,r,�r': .� �° � .F �� to the extent tequired by the Secc+etiv'y. A ll insuraace s h a ll b e c a t r i e d v ri t h o o m p a n i e s a p g r o v e d b y L e a d e s. 7lie insuranr� __ _
<br /> _�. ,�•�; : ��"�. policies and any renewals sha11 be hetd by Lender and shall incIude loss payabls c2auses in favos of.aad i»a form aoqeptabl�. ; ` -_
<br /> "�,�,� to�Lender. •
<br />�`� �;.��:,`��'�„� tn the event of loss,Borrower shall give Lend�immediate notice by�. Lender may makepraof of lass if nut made _
<br />����,�...>„ .::�,.a�. . pro tly by Barrower. FBCb insuraitce comparly concemed is�ereby authorized and direcoed to make payment for sucD 4oss ` {_
<br /> ''"� � ,�:.�� y to I.eud��nstead of bo Horrower aad to LendeT3ointly. AH or any part of tkc ussurance prvoeeds may be applied'bY .: ..' .
<br /> _-=-:;r- -- � Instrumetit,fiist to er1
<br /> �°---°� �r�.; l.ender,at its o�an,either,(a)to the redaction of the indebtedness und�the Note and this Secvnty.. �► . �
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<br /> �r, delinqnent ampams applied i�a the order in Pmag�aph 3.and then to pi+epayment of p�incipaF.or(b)w the restoration or tepau '
<br /> '-�'`������ °.• �� �uv_ Hcation of tice proceeds w the principat sha11 not eactead or postpone the dne date of the —
<br />_ :••�.Jn�,.. :,, .{. of the damaged ptnperty.' app .
<br /> ,,, monthly paymentv which ar!e Teferred w m Parngraph 2.or change @�e amount��xach ay�nents. My exoe�insursace
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<br />_ +'"'.:�.r.� , ,:� Proceeds over an amount required W pay aD outstauduig indebtedaess uader the ric�z an this Security Instius�t shall be � . ._
<br /> - ;'.;;``;':•,;Y�_i paW Yo the e�^:ty legallY en6tled theceto. • -.
<br />__ �.y` �� . .'.� ;`J �n t�¢��ent of foreclosure of this Sec�rity Instruffient or ottr�a a�nsfer of titfe to the Prop�ty that exting�ishes the
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<br /> �;-.�;�; .,•. r �indebtcdnes�;aIl ri�U�title and intec+est of Borrower in aad to insuraaqe.policies in force shall pass to the pucchaser. � .
<br /> ;•�,;�!�.,,p.�..;. �-- g, pecuDanc�r, Pr�serrvatioa. Maiateaance aad F.rotedton oY'the P1vPertY. Bo�rower's Laan ��iCatlon; .�
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<br /> ' ,:. .�•,,� .�:pasehoIda Borrower ahall occopy.establish.and use ttce 1�'mperty as Borrowef s principa)resid�nce within sixiy days aRer
<br /> ,'' '.°�'.', _•.;° : ._� the executiea of this Security Insuumsat and sb�ili continue to oavpy the Pim�erty as Borrowe�a principal residence for at • _ -
<br />_ _ �: .:�: ' �;�,:'�': least one ye,�aftes the.date of occupancY,unless the�ecr�aryr detemunes tivs requirem�nt will cause undue l�azdshlp for �__
<br />"�• _ . '';�: �' Hoaower,or:anIess extenuating circum�tances�aist wlsict�ar�beyond Bormwer's control. Borra�.er shall notify Lendess of . -
<br /> Ltt. .`' `: � '' 2ny extenuating circumstances. Borrower ahall not commit waste or destroy,damage or snbstan�,.,'"`�change the praperty or —__
<br /> • �' �:`;:`, �;,:r.',,� ;' �?low the Property w deteiiorate.reasonable wear and tear exoepted Lender may mspect the Pioperty if the Propeny is �_
<br /> -���° � •:� : vacac►t or a6andoned or tI�doan is in default L�►der may fake reasonable acti�m e�protect and preserve sr.cb.vacant ar _---
<br /> '' ` ��t ;._, ..... ,;:,:. abaadoned Pcoperty. Bon�ver shall also be In default if Borrower,duriag the loan applieation proeESS.gave rcu�eriaUy fatse
<br /> �"�� ""` or inac�urate inforniation or statementv to L,ender(or failed w�provide Lender with eny materiel inforniaucmD'ca1 conne�tian =__
<br />_tis,, �:.��:;; with the la�s�videnced b�r the Note.including,but not limited to.representations concera�g Bmrower's a�apancy of the ---
<br /> .�: . �. :�. .�� :i:: property as a principal residence. If this Sesurity Insttument is oa a 4�ehold.Bonower shall comply with the ptovisions of =
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<br />- � �'.+, r�e tease. Yf Barrower acquires fee tit2e to the Property.the leasehol�:a�d fee dtle shall not be merged un2ess Le��Er agrces to .''
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<br />-- . .., d:e merger in viritiang. _ .
<br /> - `'� 6. �arges to Bomower aad Pmtectinn oY I.eader's Rig��s in t�e Pmgerty. Boaower shall pay all govemirtentttll `�
<br /> • -�?t"'�:�3: or raunicig�!charges,fines aad imposi6ons that are not included ira Paragraph 2. Horrower shall pay these ob'ligations on '°_,+'
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<br /> � ���"'''•� time duecdy to the entiry which is owefl the payment. If failure ro pay�voutd advetsely zffe�Lende�'s interest m ti�e
<br />,�;;. � . • propeaty.upon Lender'�s request Borrower shaU promptly furnish to Lender receipts evidencmg�n.se payments.
<br /> � If Bosrower fails to make the�e payments or the�payments required by Pra"�eph 2; or fa�s to perForm any at��a
<br /> . . co,venants•aad a�reements contained in this Securit�r Instmmen�or there is�legaD proseeding that may significandy affect
<br /> � .-. ' . Lender s rights m the Property(such as a proceed�ng in bantwptcy,for condemnation or to enforce laws or reguluioas).
<br /> _ � � , �then I.ender may do and pay whatever is nee�ssary to,protect the value of the Praperry and Lender's rights in the Praperty.
<br /> ' , • � iacIuding payaient of taxes.hazatd insurance aad other items menaoned in Yaragrapb 2.
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<br /> �`.� ! My amounts disbursed by l.ender under this Paragrap5 shaU become en add�nonal debt of Harrower and be secdred by ,
<br /> -. '-� , � . this gecuncy Iaswme�tt 7liese amounis shall bear inter2st from the date of disbursemen�at the Note rat�,and at the option
<br /> .,•�,;�. •� of Lender,sflall be immediately due and payabloa '
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