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<br /> BORROWBR CQVENAMt'S that Bortower is IuwfuUy rc�Zed of the e.9tute hereby convcyed nnd has thc r�ght to grar►t
<br /> and wnvey tlie Property mtd that ttte Pmpetty ta unencumbeced.except for encumbrartces of record. Born�wer wArtantx�►nd _
<br /> wlil defend genemlly the dtle w the P�operty against aU cluim9 and demanda.Rubject to ur►y encumbrunces��f reuonl. �
<br /> UNIFORM COVBNANTS.
<br /> !. Pnymcnt of Pr1e�cJpRl,Interest�nd LaW 4hACga Bomnwer Ahull pay when due the pdnctpul of.and i�terest on.
<br /> the dabt evidene�d by the Note and IaAe charg�s due under the Nou. -
<br /> Z. Monfh(y 1'�yraent oP Tazes,IRatanoe.and Other Ciwrges. Bonower ehull inclade in each monthiy puyment,
<br /> �..._ a. .�� a....t..»t A t....�... �r C.�+A iw �1�. 1►tM� �wwl uwu «e.�.;�l�wsw a a�fsn F�.s!wl Mvao ot1A a�W';D� -_
<br /> iu�cuna wiu� u� jnu����rw a:w u.w.vo. .:o.�.,.....«. .,.y o--� —
<br /> nssessmeats lavfed ar w be lavIed against the Propetty. (bj leasehold payment$ or ground nnts on the Pro�xty. a►d
<br /> (c) piemiums tor insurwice roquired under Paragcc►pT�4: In any ear in whfeh the Lender must pay a mortgage insw�aaca —
<br /> premtum w tbe Secretary of Housing aad Urban Development("�tary"), or io any year l� whicd such premium�vould
<br /> have ban Kqulr�if Lender stiU heid the Securtry Inatrument,euch mont�ly payment shall aliso Iaclude either. i)a sum for
<br /> the annusl raortp�age insurance premium W bo pald by Lsnder to tSe Sa�retary.or(ii)a monthly cherge tnstead o�a mortsage
<br /> tnsumnce premium if this Security Instrument ia held by the Secretury, in a reasonable amount to be detem�ined by tho
<br /> Secretary. Hxcegt for the raonthly chasge by the Secreutry.these items are caUed"F.scrow Items"end the sums paid to Lender
<br /> are callcd"Escrow Fands"
<br /> I.ender may.at aay dma,oolldx and bold emounta for Escrow Items in en agge+egau eraouat not to e�ccaod the raaximwa
<br /> amount that may be reyuI►�i for 8nrrower's �x�row u�uut wtder the Rea1 8stata Setttemcat P�tdures Aa of l974. 12
<br /> U.S.C.� ?.C�(11 gt xeo. and impleme:ndng regulattons. 24 CFR Part 3500. es they may be amanded from dnae to dme
<br /> (°RESPA"),axcr.�pt that the cuahIon or reserve permltted by RESPA for unanticlpated d3sbursements or disbursements befom
<br /> the Borrower's pfl}Tnents are available in the aocount�nay not be based on amoants due for ttee mortgage insurnnoe premium.
<br /> If the amvunta held by Lender for Esaow Itema excad the a�nouatsp�r�iaed to be held by R�'SPA,L�nder ahall deal
<br /> with the exass funds ss roquired by RESPA. Uthe amount�of fwids heldby Lsnder at any dmo ace noi anf�CCient w pay the
<br /> Bscrow Items whea due,Leader may notiffy tho Bocrowcr and�equ�re Boirower w make up the shortaga Ar deRclency av
<br /> permitted by RPSPA.
<br /> 7ue Escmw Pands are pledged as edditIonal secudty fer ell aums sec�red by ttils Security Ins�nt If Borrower
<br /> tenders to Lender the iLU payment of nU such sums,Harrawer's ucc�ount shaU be credited wlth t6e balenc�remaiuln6 fo�'all
<br /> installm�at iLea�a(a).(b).and(c)and any moxtgaga insurana premium instaisment t6at Lender has not bxome obligaued w
<br /> pay to the Seccttary,c+rtd Lender sheU pr4mptly mfuad any e�ccess fuads w Borrower. Imn�edlately prior to a foieelosure sale
<br /> of the Property os lts ulsiHon by Lender.Bomnwe�s exount shaU be credited with any balance remaining for all
<br /> l�+�11••��4 fnr issms ia�?.aa!(r?• .
<br /> 3. Apy�iiCatba o� ymeate. AU payments under Peragcapha 1 ead 2 shell be applied by I.ender as follows:
<br /> g�g$T,w the iaortgage ias�aanoe pnmium to be paid by Lender w the Secretuy or to the monthly charge by
<br /> tha Secretary instead of.tde montWy mortgage iasurence pnmivaa;
<br /> �g�, w any taxes, specIal assessments,teasehold payments or ground reats�and tirr, tlood end other
<br /> u►surance premiums,asreqwitrd:
<br /> y�,to iaterest due ottder the Nou;
<br /> �,to etaorti�atton of the pr3ndpal of the Note;
<br /> to late charges du�under the Nou.
<br /> 4. Ftre,Flood aad Other Ha�nrd In4uraac� Borrower shall insure all Lnpmvemeats oa the Property,wdsthet now
<br /> in existence or subsoquently ere�cd. ag ainst eny hazards.casuaities, aad condngenctes. including furo,for which I.eader,
<br /> raqulres insureuce. 'I1�ie insurance shall be maintained in We amounts and for the perlods that Lender req�ires. Sorrow�r
<br /> shaU also insure allimpmvements on the Pro�erty.whettter now in existenoe or subaoquently e�cted.against tosa by floods
<br /> w tho exoeat requinei by the Socretary. All insurauce shall ba c�rrtrd with campanies appmved by Lender. 7Le Insuraua
<br /> poticies and w►y nnewais shaU be held by Lender and shtiill include loss payable ctauses iq favor of.and in a form aoaMabk
<br /> W.Lender:
<br /> In th�event of loss.Homnwer shali�ive Lender immediate notice by mail. Lender may make proof of loss if not mad�
<br /> pro y by Bamower. Eech insuranco company concemat is hereby authortzed and di�ccted to make payatent For such loss
<br /> y W Lender.insusd of to Bomower end W I.ender jointly. All or any part of the inauranra proc�s may be ePPlled by
<br /> Lender�at its option.either(a)to tha reduction of the indebtednesa under ti�e Note and thfs Security Inswment,&st w aaY
<br /> dGHnquent amouats appHed in the order in h 3.and then w prepayment ot princlpal.or(b)to the asooratton orre�air
<br /> of the dnmagal property: Aay applic�t�on of a proceeds to the principul shall not extend or poaq�one die due data oY tbe
<br /> �nondily payments whicD ere nfeme�•to ia Peragaph 2.or changa the amount of such paymems. Any exoes�insurac►ce
<br /> proaeds over an amonnt requind to pay aU outstanding indebtedness under the Note and this Sccurlty Insuument shalt be
<br /> paid to the e�dty tegally endded theiew. �
<br /> Ia @k event of foreclosure of thla Security IRStrument or other uansfer of tide ta the Prapesry that exdnS�ish�s d�
<br /> indebtrdaess�all rlght,Hde and iataest of Borrower in and w insurance poitctes in force shall pass w the purchoser.
<br /> S. Oaupancy. Yi�eservation. Matuteaanoe and ProtectMn of the PropHrty; Borrowcr's I.oan Applkxttoni
<br /> Laxholds. Bomower shall occupy,establlsh,and use tbe Propemy ss Bonrowets principal residenco wtddn aixty days after
<br /> the executinn of this Socurity Instrume.nt and shall oondnue w acxupy tbe Property as Bomower's piincipal residence for at -
<br /> least one year aRcr the date of occs�pancy,unless thc Secretary deter�nes thls requirement will ca�se undue herdshSp for
<br /> Botrower.or unless extenuattng ctccumstances exist which are bayond Borrowet's coatrol. Borrower shaU notify Lenders of
<br /> asiy extenuadag circumstances. Borrower shall aot commit waste or destroy.damage or aubstandnfly change the Propaty or
<br /> nllow the Property to dexeriorau.reasonnble wear and bear excxpted Lender may inspect the Property tf the P�operty ia
<br /> vacant or ebandonod or the Ioan is in defeult Ixnder may take reasuaable acdon to pmuct and presave such vacant or
<br /> abandonc+ci�roperty. Borrower shall also be in defaWt if Borrower,during the loan appLcation pmcess,gave ma�ecially false -
<br /> or iqaccunnte infom�ut[an or smtements W Lender(or fi��illed toptovide Lender with eny materisl infom►adon)in wnnecdon
<br /> with the loan evidenoed by the Note.including,but e�ot limited to.c�epresenmdoes concxming Borrawer's oocupaacy of We
<br /> Properiy as a prine3pal residence. If this Securtry Instrument Is on a leasehold,Ho:rower shall comply wit6 the pmvlsIons of
<br /> the lease. If Horrower acq�ires fee Hda w the Property,tl�leasehold and fee title ehell not he merged unless L.ender agcces to
<br /> the merger ia wndag.
<br /> s t9is.�.n...unrwn.vn.n..a vwnf�.einn../r�...Ins�c IItnbta t.�►l.n pwn..n.�v. stnrnntsrnr clfntl n9v alt aovernmen�81
<br /> ��w�w��..w �i��� w �.er�.������ �.r� �����""�"__��"y _
<br /> or mnnicipal cS�arges.fines and imposidons t6at are eot inclndal in Paregraph�l. Borrower shall pay these o�illgations on
<br /> dme dtrectly to the entity which ia owed the payment If failure w psy would adver�cly affect I.ender's interest in the
<br /> Froperty.upon•I,et�s�uest Borrower ehall pmmpdy fumish to Leader receipts evtdencing these payments.
<br /> If Borrower w make these payrteents or the paymenta �equired by Pare�raph 2, ur fails to perfoem any ather
<br /> covena►t�and a g�e e��containad in this S o c u n y't n Insdument,or thsre is a legel proa�ding that mn y signifccandy affect _
<br /> L e n d e r'a r l g h t s i n p e rt y(s u c h n s a p r fl o e e d i g i n b a�l C r u p t a y. f o r c o n d e a r m a t I o n o r W e a f o r c�e l aws or r e g uladona).
<br />- then Lender may do end pay whatever is ne�essary toprotoct the value of the Property and I.ender's d�hts in the Property.
<br /> includiag payment of taxes.dazard insurauoe and ather items mentioned tn Parng�a ph 2.
<br /> Any amounts disbursed by Lender under this Paragraph ahall become an edditional debt of Bormwer and be secu�+ect by
<br /> thia Security InstrumenG 'lt�ese amounts shall bear ir►terest from the date of disbursemen�at the Note rate.and at the optlon
<br /> uf Lender,shall be immediaoely due and payable. -
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<br /> ' (Paga I aj4 pogcrl —
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