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<br /> ' T(�GE7HER \tNiiH all th� ktiWrovwnant� now or hwwRK w�ct�on h� p�op ,�� � wa«n�nts, �p(1URM1i�1Gi, arsd
<br /> � IGturN naw or h�rw�Nor�prr!ol th�p�op�ity. Ap nplaum�nt��nd�ddiilons e1wY aNw t�corwRd hy U�ls S.�uu:.y l�.cirum:.-�i. .
<br /> !�i oJ il�e tw:yo�ny�i:rct�;r:d ia;�th!c S�:etit�,� In�trummt as th�'Pruperty• -
<br /> BOflROWER CnVENANTS that Borrowa is 4w1uYy s�ed oi thn ectt�tu horoby conveyed and hxF thr �jhl to yrini and _
<br /> conv�y th• Prop�rt� �nd that th� Prcp�►ty Is un�ncumbKed, axc.opt fw c�auu�lu4ncos ot record EioR�ti��ir wunu�ts�nd wiW
<br /> dd�nd pensrWy tha titie to th�PropMy ag�i+►st aU cialma and dwnnnda,subJact to �ny Mcumbr�nus at rocord
<br /> TH19 SECUHIiY INSTRUMENT canbinu uoifortn covenantu 1ar natianal use �nd non•wularm e�tionanls wilh limitad
<br /> vatialion9 by�uriidkUon to conlliluto a unifom� socwity intlivmwd covotinp real propeRy. :
<br /> UN1FfKiM f:DVfIVANTS. Eiorrower�d londer cavenxnt �nd e�{roe a9 tollows:
<br /> t. Psym�nt of Prtnclpsl �nd Intsrs�i; PropaymAnt s+tid I.sto Cha1�otl.�etQ co�a�sn��u°'a'��h N i'e�� -
<br /> tlw tho princlpal oi and fnterest on th�debt evtdanc�d by lh�Nolo and eny propaymen
<br /> 2. Funds fw 7ax�a and tnsutancY.Sublae�to aPP4cAW�t�M�w or to a wrktar� walva by 4�ttcr. Rotrowe�ehaN paiy
<br /> to Lwida' nn lh• day monthy E+aym�nts ar� du�undtK Uie Nato, until!he Noto is patd in fuY. o sum ('Funds')iw: (�) yei�N _
<br /> taxes and aatessmants which may �tt�in Prlortty uvrx thl� Security I�slrumpnt os a Gw� on the Pro,pr.rty; (b) ��rh! kesehaki _.
<br /> p�Yments or yround rents on ihe Propw�ty,H any; (n) Yewfy harard or pro^erty insuranco pr«r�u+�w: (d)yna�ty flood Insurance
<br /> prerr�lums. if wny: ta)yearty mortgage insurance pranwms.H any;and (f1 o�y sums payabfe by Barrowtr 1�Lender in accordance
<br /> wiih tM provtsla+►s at paraqr�h B. in li�u ot thA pAymenl ol mortpage insurance prwniums. Thoso ituns are caAud'Esc�ow
<br /> Items.' Lander rr�y, at any tkne, coUect and haW Funds in an amouM not to axceed the mazlirwm�mauN a tender lor �
<br /> 1ede�aAy re{atod mortsaye loan may �aquu�for Barrowe►'s escrow account under ihe toder�l Raal Estato Sbtttemanl Procedurea
<br /> Act of 1974 as unmd�d kom tIn►e ta Wne,12 U.S.C. g 2601 et seq. ('RESPA'), unlsss anothK law thal ap�sl+es to the F��nds
<br /> s�ts a Isssor amount. M so, Lander may,�1 �ny timo. coltect and hold Funds in an amount nat to excacd the lesser amouot.
<br /> �pnci�r may astimata the wnount o: Funds duo an tho luslc ot cu�rent data and reasons6ie �stLrrt�a o) axpenditures of fuUua
<br /> Escrow Items or othxwtss In�cw►dancs wdh.npp{icabla I�w.
<br /> Th�Funds sAaY ba h�id in an instilution whose doposits ate insurod by a tederd�gency, i�slni+n6ntafrty. or enCdY(nGud+^9
<br /> �endr, i} L�ndar is such �n institution) ar In any Federal Homa 4aan Bank. Lender shaY�pply ths Funds to pay Ih�Esaow
<br /> Rwna. Unda may not ctiarya Borrawec tor hakiinp and aPPMn9 the Funds, annuaMyr anayiki9 ths esaaw account, or verdyinq
<br /> the Esaow ttans, unl�ss Lend�x pays Borrower interest on the Funds and app►cable aw pertnits lende► to main such �
<br /> charge. Howevar. Londor rtwy raquir�e Baaowor to pay a onallme chuge ta +�n independe�t �eal est�to tax reQortinq service
<br /> usai 6y londar in connecUon with Ihls kwn, unless appOCable law providos otherwisa. Unfess wn agreemenl is made or
<br /> applicable {aw�pukas interest to ba pakl,l.a�der shall not be requ+rod to PaY Bortower any intorest a ounln9s on the FunrF:.
<br /> Bortower and Lond�r may agree in writing. hawevx, that interest shall be paid on the Funris. Lender sha11 give to Borrower.
<br /> wfthout charge, on �nnual accounUng of tha Funds, shawing cred�ts and doG'�ts to the Funds and the purpc►se tor wh�h wch
<br /> dabit to tha Funds was made. Tha Funds are pbdyed as add'Riona!sacu�tY icr s'A sums secured by the Sacurity Mstrumont.
<br /> I}LAe Funds heid by Lendar excaad lho amounts permitted to t�e hei.i Dy appGcable Uw, l.ande► sh�l7 acc°unt ta Borrowar
<br /> tor the ezcess Funds In occordance wfth the roquYemonta of app�:e 1aw. if the anwunt of the Funds haki by Lender at vy
<br /> tkne ls not sutflcient to pay the Escrow ftans whon due, Lender may so noUfy Borrower in writing,and,in such case BorcoMer
<br /> sha0 pay to Lander the amo:uit necessary ta rn�ke up the d�cy. Borrowet shaN make up ihs de5cia►cy in no morQ tlh:.�
<br /> tweNe monthy payments,at lender's sola discreUon.
<br /> Upon payrnwit in tu11 ot all sums sea+red 6y this Security Instntmant, Len3eo shall promptly rc4und to Borrower any Eunds
<br /> held hy Lender. N,under paragraph 21. Lender sha11 acquir� a aeii the Propar!y. Lender,prlor to tht+atquisnian o► s+�e o1 the
<br /> RopaAy, sAall apply any Funds hekl by Undcr at the time of acquisRion or sala as � usd'A aytinst the sums secu�ed by this
<br /> S�cwiry Instrument.
<br /> 3. Applicadion of PaymentS. Untess appGcable Lw pr��ides otherwisa, a!1 payments recdved by LendK ur,at�er
<br /> paragraphs 1 and 2 sh�be appiied: fust,to any Prepayment chsuges due undec ihe Note: second. to urwunts payeWo w�du
<br /> pan9raph 2:thkd,to�m�erost dur, tourtA,to princJpal due:and last,to�ny late cSwrges dua u+►dar ttw Nota
<br /> 4. Chuyos; LLana. Borrowar ahaY pay aY wcas. assesstrwnts� charqas, tu�a and Yrposttions atttiibuuWbN to the
<br /> �---- propaty wNCA r►t�Y attan Piw�tY w�ifiir 3ewri'ry wisirum..�i:.u���:e:.:�.-.:3�:��r�� a:,,:.�r.3 s�••�,�•n;. �t+!t!�!!w►ut+rl . .- .-- -
<br /> pay thasa obYyatlons in the m�nncr provkled in puagny�h 2, or ff nW pald in that marxier, Bcxtower st� WY iham on trie
<br /> d'rcscUy to ths porson owed pa�t. 8wrower ahaY promptty tumish to Lendar nH noUces ot amounit to ba paid undu this
<br /> paragaph. a Bortower m�kaz thw PaY+�� dit�ctty. Borrower shaN P�PyY tumisn to Londer ncaipts w+dmcin9 the
<br /> �Sorrower shaY {xomPUY ���4e any Gen Ntiicte has prloritY over this SecwitY InsLument unless Barow�r (a)a9resa h
<br /> wrrting to the payrnent o1 the oWiyZati�secured by the Ben in a marufer acceptsble to Lender: (b) ca►lests in Oood fakh thr
<br /> Iwn by, or detbnds against entorc�aa►2 ot tho lien {n, bgal procReck�gs whkh in the Lend�rs oQir�ion operate ta pravant Uw
<br /> entorcoment of the lien: a(c) securas U'om tho holder of the Iie� ar+agreement sa8stattory W lender subotdinathy the Yen to
<br /> this Sacurity Instrwr�er►t.I}Lenda d�es that any part ot the Properry is suhj�ct to a Yen whlch m�y att�in prforiry ovK Ws
<br /> Securiqr Inslrument.Lcnde may pive Borrower a not3ce identiyiny the Yen. 8ort�vcx shall satisly the Gen a taks one a moro of
<br /> tlw actions set tath abow withk►10 daya ot the giviny ot noUu.
<br /> • 5. Haz,i�rd or Prop�rty Insuranco.Bortower shaJl iceep the improvertwnts now axlstlny or heroaAe►xedad oa the
<br /> Propaty insured againsi bss by firo. hatuds Induded wRhin tRe term 'extendad coverays' and�ny ott►ar haurds,including
<br /> Aoods or flood'ng,tor whlch Lenda ra{utes inwrance. This insurnnce shall be maintained in the�rnoar�ts and 1or ihe paioda
<br /> that Lender requiras. The insurance cartkr prnriding the insurance shaY be chosen by BoROwer wbjecl to Lendor's approval
<br /> which shaN not ba urueasonabiy withhrid. 8 Bwrower taAs W m�intaki coveraye desuibed abova La►d�t m�y. u Lender's
<br /> optton,obtah covaage to protect Lendw•s riqhts In tne Property in accordanc�witn para9raph 7.
<br /> A1 insuranca PoYclas and renewalt shaY be acceptable to Lender and shaU include a standard naK�ge clauca. Lender
<br /> stu11 have ths rlyht to hoid the poides end renewats. It Lendtx requiros, Borrower shall pransptty yive to Lender aY rocelpts of
<br />,� paid premiums and renewal noticss. In the event of lou, Borrower shaN piva prompt noUce ta U.sa�ce cutier �nd LendK.
<br /> Lander may make prooi ot bss if not made prompUy by Borrower.
<br /> Unloss Lender and Borrower othorwise agree in writing, inwranca proceeds �BaY be aPPlied to rest�ation a repair of tha
<br /> prope�ty damayed.�t She restonUon or reQaL� Is econamkaYy tatsible and Lertd�mc'x security is not lesse�ed. N the restoratbn or
<br /> f�13 f101 CCOi1WYi11"�1��ETE�IW2 Of LCfldB►'s sewrRy woutd be Iessened, the inwnnee procPads st►at�be aPPlied to the sums • �
<br /> seaued by thls Secuisc,+ �strumsnt.whe�h�r or not then due, wiRh any excess pald to Iiartss�.wr. H Borrawer sbmdons the
<br /> Propety, or does not z�swor►►rhin 30 days a notico irom Lend,er that the insurance cartier ris otlered to sattle a c{�inti the�
<br /> Lender may coliect the ina+uancs proceeds. Lendlt may use tF�a procs�ds to repair or res�re t!►e Ptops�ry or to pay sums
<br /> sacurcd by thts Seexr!�y instrumen�whethcr o�nai ih&n dua. Thn SO-day paiod wiY be�in when the naLSCe Gs g�wn-
<br /> Uniou Landar :nd Bortower otherwtso a�ee m wriuny, any sppricaiion oi qoce�s :o p.-is:lN:t cl�alt:�!t.:d.,.^s� os
<br /> paatpwre the due drte of the morthly payTnmtt reterted to ln parayraphs 1 and 2 or changs tt» an+aust ct th� piyrna►�i.tf
<br /> undar puragraph 21 tha Propatty is acquted by lender, Borrowar's dgM to any insuranca poiicks and proaeds r�g i�an
<br /> darrw� n:tlie PropeRy prior to the acquisiWn�st�aB Qass to Lender to the extent of th� sums G/tfiis SeauiRy k�sUturwnf
<br /> itmwdWtk�r�prior to the ncquir.�lon.
<br /> = 6. Occupancy, Pr�sarvation, �19�intenancQ and Protoctton of Uw P�operty: Borrowar's Lwn
<br /> � Applicatlon; Lsa�Itolds. Bortower shaY occupy. estabish. and use the Property�s Butower's prir►aipal rosidance nirthin
<br /> si�csy days after the executlon ot thls Securiry Instrumtnt and shall contlnue to occupy the Property as 8arowePs prinGpal
<br /> resldence for at kast one yev�fta the date o1 occupancy, untess Lender othenrise �groes in wrdinQ.w1►ech ca'iseni shaN not
<br /> be unreasonably withhetd. or uniess extenwting circumsSances exist whkh are bcyond Borrower't con�ot. Bo+rowa shaN not
<br /> - desVoy, dart►age or in�the Property.�Ilow the Prop¢ry to dvteriorate.or commit waste on the Properif. Borrower shal be in
<br /> detaull if any toAci[ure a^tion or proceed'ny. wheiher ckril or crirnhal,is begun lhat in Lender's good tad.�judy�rwnt toutd resuti
<br /> in(ortaiuue oi the PropeRy or othenvise materialy imp�ir the fien created hy this Security Instrument or tesr�tr's secu+iy interest.
<br /> - F1316.1.M0(3/96) Paqt 2 W S
<br />_- 96139
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