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<br /> BURROWER COVENANTS thut Boxrower i�lewfuUy ueized of the estate hereby conveyed and hos the dght to g►�ant
<br /> and convey the Propetty nnd that t�e Property is unencumbered,ea�cept for encumbu►nc�of necard. Borrower wurn►nts and
<br /> wW dsfend generally the tide w the Property agatnst all claims and demands.s�abjest to uny encurabraaces of record.
<br /> LTNff+DRM COVBNMITS. �
<br /> i. PAywent ot 1Maci�1,Inkreet w�d L�te C6ar�a Bomower shaU pay when due the pr�ncipal of,and iaurest on,
<br /> the debt ovldenced by the Note c;nd latc chargas due under the�tou.
<br /> Z. Month�y Puymatt oi Tue�,Insurana.and Other Charges. Barrower ahnll include�eac.h monthly pnyment,
<br /> tng�ther wtth tho princlpal and iatsrest as set fortb In the Not� end any lute charges, a swn for(a) tax�end special
<br /> assessmenoa levted or to be levicd againat the Property,(b) leasebold payaaents or gmund rents on the Property. and
<br /> (c)Premiwns for insurance raluind undar Paragap6 4. In any year in which the I.enda must pay a mo�tgnge Insuranca
<br /> premium tn rhe Secietary of Haus�q end Ucban Development('Seaetary").or ln uny year 1�►which such premlum would
<br /> have been requlnd if I�ender still beTd the Scaurity Instrument,eacb montblY PaYment shail also incIude eiti�cr:tf)a sum far �
<br /> the annual moxtgage inaurance p�+emium w be paid by Lender t�the Se�tery.or(ii)a monthly chorge instead of a mortgage
<br /> insurano�premium tf thia SecurIty Inst�ument is held by the Sxretary,in a reasonable amount w be deternilned by the
<br /> Sece+etiuy. Except for the monthly charge by the 5acretary,these iterns are caUad"Escrow Iiemc"and the sums paid to Leader
<br /> ate called"Escc+uw Funr�s"
<br /> LeAda�nay.e►t eay tirr�,oollxt aad bold amouats for Escmw Iteras W an aggcegate amouat aot w excxed the•maxi�num
<br /> amoynt that may be roqui�d foT guisowar's escrow account uader the Real Hamte Seulement Proceduns Act of 1974.22
<br /> US.C.� 2641 � fieo. end unplemendng ngWedons. 24 CPR I�t 3500. Qs theY may !�e emended from time t° HUar.
<br /> ("RESPA")�eaapt that the cusldon or reserve pennittefl by RBSPA for unauticIpated disbursemeats or disbursemeuts bs�'orz -
<br /> We gotroWe�s payments are avaUable in the e�ocount may not be based on amounta due for the mortga e insurance premium.
<br /> if the Amounrs held by Lender for Escrow Itema e�coeed the amounts Permitted to i�e held by�PA,L�nder shap deal
<br /> with the ox�funds as rcqvired by RESPA. If the amounts of fl�nda held by Lender at eny tisne arc aot auffictent w gay dte
<br /> F.scruw itarnv when due.Lendtr m�►Y nottfy the Boirower aad n�yuire aomnwer to mnke up tuo shortage or deficlency es
<br /> •.pemnitted by RPSPA.
<br /> � '!rie F.scr�ow Fwids ere pledged a��ddidonal accurity for all sums secured by this Secudty Iastivmen� If Bonower
<br /> tenders w Leada the thU payment of all such sums.�d�rtowcr's acwumt shaU bc credIced with the balance rematni�B for all
<br /> installment items(a)�(b��end(c)aad any mottgage inslarance premium instalttucnt ihat Lender 6aa aot be�me o6ligatai w
<br /> pay to tha Se�cctuy,and Leader shaU promptly ni�nd any excess foads w Bomower. Irmaedit�taly prtar co a foreclosure sale
<br /> � of tke Pcoperty or its ulsition by Lender. Bormwer's accoant shall be ecrdited with �nY balance remaining for al!
<br /> . instaUmenta for itemg(Q)�).end(c).
<br /> 3. Applkatlon of yments. AU paymeats uc�dor Paraglaphs 1 and 2 shut�be appllcd by LenQer as followa:
<br /> g�$�,w We mortg�ge inaurence p:sradum w be pa�di by Lc,id�to t�e.°�crr�sy ar sa ske moastslY rh2r�bY _
<br /> the Saretery iastead of the moathly mortgage insuranoe premiwn;
<br /> d�to aay texes. spatal assessmenm. leaseh�ld paya�eats or grnund rents,and fi�.Aood and otha
<br /> surance premiums.av rtqair.ed;
<br /> �p,to interast due under Ihe Note;
<br /> �Q��,to amort�ton of the prir.c�p�of thc Note;
<br /> to late charges due uader tht l�fote. ,wheti�er aow
<br /> 4. � �aad pttxr Ba�N I�xnee. $omawer shall insure all improvementa on the Pr�erty
<br /> in existenca or sub�quendy trated,against any ha�arda. casaeddea. and condageacies, including Cu+ei far which I.ender
<br /> requines insur�u►ce. 'I�is Wsurance shall be maintaiacd in tl�e amounta and for the perials that Leader requires. Bornowcr •
<br /> Ahall also Insurc all imprcvements oa the .whether now in existenae or subsequently�nccud,aSe�t loss by Apods
<br /> w the.extent required`y the Secntary. Ali�nsurance shall be cartled wlth companies uppi+oved by I.�nder. 1he iasurance
<br /> polic;es and any reaewals shaU be he:ld by Lender und shell iaclude loss payable clauses in favor of.and in a fomi aoceptable ,
<br /> ' tu,I�ei►der.
<br /> In tt►e event of loss,Borrowa shnl!give Lender immediau notioe by mail. l.ender a�ay meke pro�A�t for uch loss
<br /> ptompdy by Bomnwer. EacH insu�anea company oonarned is h�reby authorizod and dic�ected w rc�kb
<br /> dicawly to Lender,inatead of W Bomoaa and to Lender joindy.All or eay pa�t of tha i�naurauce pr000ecis may be applied hy
<br /> Lcnder.at ia option,either ta)W th�e nductlon of the inde6axinass nnder the Note and this Securiry Iashumaa�fust to ea�r
<br /> deW�quent amarau applied in theonda in Paragaph 3.and then ta P�PaYment of p�nc�pai,or N)to the resttoratton or nepe�r
<br /> of the dwnaged propertY• AnYepp4cadon of the prooceds to the priarlPal shuT!aot extend or postpone tbe due date of the
<br /> �nthiy p�yments which ere rGfemed tc, in Fazagraph 2,or change the amannt of such payments. Any exass tnsuranec
<br /> pmcads over an amountcequi�md to pay all outstandiag indebtedncss under the Note and this Security Ins�at shaU be
<br /> peW to the entity legaUy entiflad therem.
<br /> In the cvent of for�closun of this Security Inat�ument or otha� ttaasfer of diYe to the Propaty that exdng�ishes the
<br /> indebtedness�aU right,titla end intaest of Borrower ia and w insureno�pollcles in fora shaU pass to the purchsser.
<br /> s. OocuWa9. Pnes�rvatbn,Maintenanoe e»d Protectton oi tLe Pe+opety: Bon»wer'a Lo�n APpiieatbn;
<br /> I.ea�e6otd+. Borrower shall occupy.estamlls6,and use the Property es Borrowe�'s prIncipai�esIdena wtthin sixty days afta
<br /> the exceutlon of this Savrity Iasuumatt aad shaU continue to occupy the P�»ptrcy as Bonowd s princIpal nsidatce for at
<br /> kast one year�fcer the dau of occupancy.unless the Sxretary deur�mines thia roqui�+ement will catrse undue hardship for
<br /> Botruwer.or ualcss eatenuat�g circumsmnas exfst which are beyond Boaowes's oon�ol. Bomn�ver shall notify Lendas of
<br /> eny extenuating circumstances. Borrower shatl aat oommit waste ar destroy��lamage or substanfielly change the Prnpesty or
<br /> allow the!'cr�paty w detertorate,reasonable wear end tear exaeptod. Lettder may inspect the Pro�if the 1�+opertY is
<br /> vacant or abandonod or the loan is in default Lcnder may take reasonable acdoa to protect and preserve sucD vacaat ar
<br /> abandoned Pruperly. Borrower�shell also be in default if Bon+ower,durtng the loan epglicatton pc+ooess.8ave mataially feLse
<br />- or inaccurato info�tion or stetanenta to Lender(or failed to provide I.ender wtth any maurial inforn�alion)in oannecdon ,
<br /> with the loan a►ideaoed b�the Note,Including,but not Wnitod to.regres�ntat[ona concenung Boaower's accupancy of the
<br /> p�p��ty as a princlpal res�dena.If this Sxtidty Iasuument is on a leasehold,Bmmwer shall oomply with the provisions ot
<br />,� the lease. If Bomower uoquires fce title co the Prope�tY•the leasehold and fee title sha11 nat be merged unless I.enda agc+ees w
<br /> the merger In wrlting.
<br /> 6. C6arges ta Bormwer and Pnotectton oi I.ender's Rights tn t1�e Finoperty. Boirower shall pay all govemmsntal
<br />= or muaiciasl cbsraes, fines aud imDositiona that are not included in Par$graph 2. Boirower shaU pay these ob]igarions on
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<br /> dme dlrectiy ro the�ntity which is owed the payment If t'aiture topay wouid udve�sery��.endcr'a�,� �� u�
<br />= P�operty.upon I.ender's[equest Beamwer shull pmmptly fumish to Lender roceipts Evldenciag these payments.
<br />_ - If Sorcower faila to muke these payments or the p�ymerita reqnirod by Paregreph 2,or fails to perfarm uny other
<br /> wvenants andag�ments oonteinod iu tbis Security Instrument,or there is a legal prooeeding that may algniticandy affect
<br />- Lender's dghta in the Properiy(such as n pmoading ln bnnlwpicy. for�ondemnadan or to enforce laws or regnladons),
<br /> then Lender ma do and ywhatever is noces.gary wprotert the value of the Property and Lender's rights tn the propaty,
<br />' including payment of taae,s�hazatd insurance and ather items menfloned in Paragca��2.
<br /> - My announts dlsbursed by Leader under thIa Paragraph ehall bec�ome an addidonW debt of�ortower and be secu�+ed by
<br />° th;s Security lnstrumenG Tltese einounts shali bear tutemst from the date of dlsbursemen� at the Note mte.and at the opSoa
<br />= of Lxndtr.shall be immcdiately dues and payayle.
<br /> — f Puge 2 oJt pagssl
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