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<br /> I TUO��YFiFR WITH �II th� wr�pro�wrnnt�now or h�raflu K�ctod o� Ih�prop�rty. �nd ill e�aem�nt�. appurtenancos. and —
<br /> � fxtur�s now or A�r�aftw�put of the propKty.AJI rey�IacemMts�nd addiUOna shW�Iso be cuvried by tt�la S�wnty Instrum�nt �
<br /> 1W a}th� foreflo�ny h re(�rr�f la In lhls S�auity kisUUm�nt 11s th�"PropNty' •---
<br /> ' BORROWER COVtNANi� ihal E3orrawK is Irwtu;�y swt:J of lh� �slats hlr�hy canveyad any h�s ih• rlflNt to grrni w��) �_
<br /> ; conv�yr th� Hrop�rty and Ih�l th� Propwty Is unencu�ihand. �xcept loc �ncumbnnc�s ot r�cord Borrow�r wartu►la �nd wiY � c _
<br /> ( dtt�nd qrMrldty IM UUa to th• Prop�rty�qainsl a71 tlalma�nd dwnand�, auUJect to sny�ncumb+ari�e�ot ncord. �
<br /> I THIS SECiJRITV IN5IAUMENT combin�s uni(orm cov�nants lor nallonal ut� Rnd non unllorm co�enr�nts wdh limitad
<br /> � variations by Jurit�dlctlon to constitute r unif�rm so:.unty instrum+►nt covriny re�l propeHy. �---
<br /> UNlFdRM COY[NANTS Porrower and Leader covonant and WgrN�s tollowa: .—
<br /> � 1. Psym�nt of Princlpd and Inl�r�sl; P�op�yn�ant aiid Lat� Ctu�rp�y.8ortower shau pramP�N WY Wp� � �-
<br /> duo tha princ�paf ot�nd Intcreat on fhe debl evklw�cpd by iM Nat� and anY PtepaYry►x't snd I�t� chu9�s c1u� undar tha Nolo �"=
<br /> 2. Furida for Tax�s and IIt3L�u1C�. Subloc!to applicabl�law or to �wrilton waivor by Landw.Bortower shaU paY �_�._
<br /> tc+ l.endK on lhe day monlh�Y WYmwits an uua undw ih• ivoi�, unw i��: .cta !s p:l� h h:". a num (•F�Mds•� la: (�1 ya�rN � _
<br /> taces and �ssassments wldch may ottaln prloritY ov�r thla S�curiry �ncuunwnt a+ a G�n ori lhp Pr�pa�ty, (b) y�arty lea=ehald �e� �--_
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<br /> pa,yments or ground ie�ts on the Proparty,N any: (c) yMrly hazud or prop�tty fnsuranc�pterr�tums: (d)yaariy {tood insurance �
<br /> premlums, H any; (�) yearN mortya9e Insunuics prwniums.Ii any; �nd (Q any sums payabla by Borrower to Le�dar In accordance � ��
<br /> wtth tho provlsbas af pu�yroph e,h Ileu ot the paymmt ul mortqage Insuranco prwnlums. These items zre caAed 'Esuaw �'
<br /> Items.' lendK may. A1 any Ume. coYact�nd hdd Funds in an anwunt not to ucceod th� max{mum amount a lander lor a �_
<br /> tedanly relatad mort9�pe loan may roquk�tor Bortower's escrav account unde�th� 14ckral Real Estate SatUement Procedures ��-�
<br /> Act ot 1974 ac am�nd�d kom iinw to tkne.tl U.S.G. �2fi01 et seq. ('RESPA'), unlass anothac law that appl�es to th� Funds
<br /> seYs � kssK �mount. t1 so, Lender may.ot any Uma. coaect and hoSd Funds in an amounl not to excwd the lessw amount.
<br /> Lender may osWnate the amount of Funds dus on the basls o1 cunent daU�nd reasanable estinu�tes ot txpandiWres ot tutuce --
<br /> Esctow Items w otherwise In accord�nce wRli applicaWs yw•
<br /> Tha Funds s1uJ! be hatd in an InsGtution whose deposits are insurad by a tederal agency.i�strumentaGty, or enUtY (Includin9
<br /> Lender, if Lender Is such an insGtuUan) or h any F�deral Home Loan Bank. Lendar shall apply the Funda to pay tho Escrow r
<br /> �tems. Lenci�r may not charge Bortower tor holdi�y �nd applying the Fund.,annually anayziny the escrow acceunt. w vorityln9 _
<br /> the Escrow Items, unless Lender pays Barow� interest on the Funds and appGable taw permils Lmder to make auch a _
<br /> charge. However. Lender may requke Borrower to pay a one�tkne clwrge tor an independent rea! astate tax rerpwUny servk:e
<br />- used hy Lender in connectio� wlth this loan, unless appGcable I�w provldes olherwlse. Unless an ogreement is mqde ar
<br />- applicab{e I�w requkes interest to ba paid.Lender shaU not be requlred to pay Bwrower any Intarest or amings on the Funds.
<br />`� Bortower and Lender maY a9ree in writing, however, that intweat shall be paid on the Funds. Lender shall give to Bortower,
<br />-- v:ithout chuge, an annuai accounw�y w ina .'u�ds, shawing credils snd deblts to!he Fond. and the numose tor wt�Ich aach �
<br />-� ciablf to the Funds was marfe. The Funds ue ptedged as additbnsl secutity to► all su��L�a�s�WnS t Borrower
<br /> Fi th!Funds hetd by Lender exceed tt�e art►ou�ts pm�Wted to be hdd by applicab
<br /> ' tor the e�:eess Funds in accordance w�li the reGulranwrds of appUcaWe law.If the amaunt of the Funds hNd by Le�da at any
<br /> tiwne is nct suflk.lenl to pay the Esaow ke.ms w�en dua Lender may so noti(y Bortowar in writing,and,in wch casQ Borrower
<br />;� shaY pay to Lend�the amount necessary to make up the daficiency. Borrower shall make up the deflciec�cy in no more than
<br /> = twahe monthly pa1me�ts,at Lender's sote discretion.
<br /> = Upon payrtwnt in tuU of nY sums secwed by thls Sewrity Instrument, Lender shaA promptty reNnd to BoROwer any Funds
<br />_-� held by Lender. 11, under paragraph 21. lander shall acquire w sell the 1'iropeity, lendw, prior to the acqulsition or sa�e ot the
<br /> Property, shaU apply any Fu�ds held by Lender at the tUne o1 acquisitlo� or szle as a c�4di1 ayainst the sums socurad by thls
<br /> Security Instrument.
<br /> �; 3. Appltcatlon of Payments. Unless appUcable law provldes oth�wlse. aA payments recehred by Lender under
<br />—� ps►rnynphs 1 and 2 shall be appGed: fi►st,to any prepayment charges due under the Note;seco�d,to unounts paYaWe u�d�
<br />_= parapraph 2: thkd,to interest due;tourth,to princlpal due:and tast,to any I�te charges due unclr the Note.
<br /> — 4. Clt�g�s; UYn9. Barower sha{I pay all taxes. assessments. ch�rqes. tines u�d impositbns atqibutabte to ths
<br /> proQwty whleA rray�ttaln p�iwity ovar thb Sewrity Instrurtwnt.and Iwsahold paymar►ts u yround nnta,H any. Bortuw�shali
<br /> � wv thesa oblipations fn ths mu+nK provided in panyraph 2, or N noi pald in that rtwui�r, 6orrowa chall paY th�m an tlmo
<br />_ � diredy to th� pKSan ow�d payrnwit. Bortow�►snat prompUy iamisn io La�osr aii �w�a c,:���::�:.:;, w;.:� �...-''". t�'!'
<br />_ p+uagapl�. H Borroww rtKkes these payments directy. gortower shall promptly tumish to lendar rec�ipts �vid«►cing the
<br /> payments.
<br /> Borrower sMB promptly discharge any lien which has prtotihr over this Securi.y Instrument ut�loss 8ortow�r: (a) �yrsss In
<br /> writiny to the paymant o1 the obligation securad by tho Gen in a manner�cceplaWe to Lender (b) contes:� In 9ood tadh the
<br /> lieo by. or def�ds ayalnst antorcert►a�t o(tho Gen h, k�gal proce�dings whlch In the Lendrr's opinlo� operat�to prevent lhe
<br /> entorcement of the lien; a(c) secures from tha hokler of the lien an agreement utistactory to Lendr wbordina�k►9 the Yen to
<br /> thls Security Ir�sUument. It Lende►detam�ines that any put ot the Proparty is subject to a lien which may atWn prloriry over this
<br /> Sewrity Insirument, Lender may give Borrower a noUce!dentityin9 the lim. 8o►rowa shad satisty the lien or talw one or more o1
<br /> the actlons set forth above wiihin 10 days of the giving of notice.
<br /> 5. Hazard or P�op�rty In�urinco.Bortower shaY keep the improve�nents now exktin9 or hereafter erected on the
<br /> — Property inwred apainst bss by fve, harards included with;n the tertn 'extanded caveraqe' and any othbr haza:ds. including
<br /> t{oods w Aooding,tor whtch Lender requ4es inswance. Th1s insurance shaY be mnint+fned in th�amounts and tor the pe�iods
<br /> that Londer requkes. The insurance cartix providing the insurance shall Ix chosen by Bortower subject to Lender's approval
<br /> J wFAch shatl not be unraasonably withhheld. If Borrower tai(s to m�ntain coverage describec3 above, Lender may, a► i.enax's
<br /> optlon, obtain coverage to proteci Lender's rights in the RopeAy in accadance wfth para9raph 7.
<br /> _ �i inwr�nce patues �nd ran�;v«a shr'I ba �x:,�::E�. !o L�dr end �h�N �,���w � ttand.rd mataaae ctause. Le�der
<br />� shall have the right to ho{d the po0cles end renewals. If Lender requires. Borrowx shall promptly qhre to lender yl receipts o1
<br /> = pald Premlums and renewa!noUces. In the event of bsa. Burower sh�11 yiw prompt notice to the Insuranca cartler and Lender.
<br /> (.endar may rnake proot of bss it not rt�da prompUy by Borrower.
<br />—� Unless Lender and BoROwer otherwlse ag�ee in wriGng, Insurance proceeds shali be applied to restoraUon or �aw of 1he
<br />—� property damaged. if the restoraYlon or repalr is ecunorNcaUy feasible and Lender's seeurity Is not lessened. It tho restor�tlon a
<br /> = repalr is not economlcally teasible or Lender's security would ba lessened,the Inwr�nce proceads stwll be apptied to the wms
<br />-- secured by ths Security InsLvment, whNher or not fhen due, with any excess paid to Borrower. N Borrower abandons the
<br /> PropeKy,or does not answer withln 30 days a notica from Lender th�t the insur�nce carrier has offered to settle a ctairt►. then
<br />'='' Lender may colkct the insuranee proceeds. Lender may use the proceeds to repaK a restore the PropeRy or to pay sums
<br />.�� sawred by thls Socurity Instrument,whether or nat then due. The 30-da�period wi{t b�gln whon the noUce is ghran.
<br />-- Unless Lender and Bortower othonvlse ayree in writin9. any appllcation ot proceeds to principal shall not extend or
<br />-=� postpona th� dua date o1 the monthty p�yments referrod to in parapraohs t end 2 or ct►anga ihe amount o1 the paymcnts. H
<br />�� under paraynph 21 the Roperty is acqu'reii by Lender, Borrowor's right to any in3urance policies a�d proceeds resuiiing frwn �
<br /> darnaQe to the Property prior to th� acquisition shall pass to Lender to the extant of the surna by thfs Sscurity Instrument
<br />,`� inmediately prior to the acquisition.
<br />-- 6. Occupa�cy, Presetvation, MaiMenance and Protoction of tho Proporty; Borrower's Loan
<br />, ,�; ApplieaHon; Laa�holds. eorrower shall occupy, estaWish, and use the Propeiiy as Borrower's prinGp�l residence wRhin
<br /> , stxty days �fter the execuUon ot thts Security Instrument and shall contirwe to occupy the PropeAyr as Bortower's prin�pat
<br />; �r �esldence tor at least one year after the d�te o1 occupancy. unles� lender otherwtse ayrees iri writing.wfi�ch conse�t shall not
<br />:„� be unreasonabty withheld, or unless extenuating circumsmnces exist whlch are beyond Borrower's conVol. Bortower shall not
<br /> destray, darr�ge or imptir the Properry, at:ow the Property to deteriorate. or eommit waste on the Property. Bonowar shalt be In
<br /> detautt if any toAeiture action or proceeding, whether av'd w criminal, is begun tha*.in Lendei s good faith judgn�erK could resuft
<br /> in torieiturQ of the PropeAy or otherwise materiaYyr irtpair the lien created by thls Security Inslrument or Lender's securily Intwest.
<br />.. F1316.LM0(3/96) Paye 2 0}5 ��
<br /> 9607�J
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