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<br /> . :: � � 96- 1�7A'��, -�=������==�
<br /> ' � T00�'THER WITH �I! the lmprmvement9 now �r hereaRer erected on the property, and all casem;nta, appuRenancae, end ��
<br /> IIxture9 now or hereafter a perl oi t6�e proper.y.All reptscemente and additlons ahaN atao bo covcred hy thls 9cc;�riC�';�:^imcnt.
<br /> � hll o}tho ta�reQo!np lo rct�r��d to In 4hls Sccudry Inatrumcnt os iho 'Property.'
<br /> 60RHOWER COVENANT9 Ih�4 Bomnwer le lowtuly eaizod o1 ihe ostata hereby conveyed nnd hna Iho dnht to prant end ..
<br /> conv�y the ProRaty �tnd that the Rroperty Ia unencumbered, e�ecept for encumbrences m recoru, Borrawor warrante end wlll
<br /> dMmd ponuraky th�tiU�to th�Propwtyr apilnAt�II cl�lma and demande,subJect to eny encumbrRncea ol record, ,
<br /> " 7HI9 SECUFiITY IN87AUMENT combinea unftorm covenente tor natlonai uee end non-unifr�rm covenente wlth Iimlted ,.
<br /> vul�tione by JudedletJon to conetlluta�unHarm a�cudty Inatrument covetlng raJ property.
<br /> UNIFORM COVENJWTS. Borrowx and Lende►covenant and�grea a� toBowa;
<br /> . 1. �nyen�att 2+,�P�S�telp�l en�l inSerert; Pre�ne�ment end �ete Char�em. Bonawer ehnU prompty pay when •
<br /> '� dw th��r�,clpal ot and Int�raat on the debl avidenced by the Nute nnd�ny prep�yment snd kte aheugae due undrx Ihe Nots.
<br /> 2. Fund�tor Tax�� and In�urAna�.SubJact to eppHc,able law or to a w�itten wAkpr by LMder, BoROwer eheH psy � `
<br /> " ^ to LendK on the day monthy peyments ue due under the Note, until the Nole Ie pald In tull, u eum ('t'unde') for: (o)yearry
<br /> .,,�;:� tu�e and asa�oam�nte whlch t►Ky �d�in p�lority over thi� 3ecudty Inatrum�nt ae � Ilen on lho Property; (b) yeerfy leasehold
<br /> • ' p�ymenta or pround nnte on th�Property,II any; (o)yeadyr h�zud or praperty Ineurence premtu:�?4; (d)ye�rip tlood Inaurenca
<br /> �•� ""'"' ' promiuma, N�ny; (e) ye�ry rteortgege Ineurmce pramlums, It eny;end (Q any eums payable by BoRawa to�ender!��accordanca „
<br /> wRh the provinlone o1 pangnph 6. N Ileu o1 tha payment of morgapo lnauranco premlume. Ttte�e Itema are called "Eacrow •�
<br /> itema.' lende�rrMy, �t �ny thre, coUect and hold Funds In en amount not to exceed the muclmum emount a lender tor a ��
<br /> tedxaky rakted moRptge loen tn�y requlre tor Bortower's escrow account under the federal Raal [aWte 5ottiqnant Procedures .: „
<br /> Act o!1874 sa emended from tlme 4o Wna,12 U.3.C.@ 2601 el seq. ('RESPA'), unless enathcr law thrt appllee to the Funds .��:,°�-
<br /> sete e lesaer ama�mt. I} so, Lender may,et any tlme, collect end hoid Funds in nn amotmt nat to excoed tha laaaer emount. , •�;�.==
<br /> Lender may estlmate tha amount of Funds due on tha basis af current data end roesoneble e�Umates o}expanditures ot tuture • : � '�'
<br /> � Esaow Items or olhe�vdsa In accordanca wlth spplicable law. '�"
<br /> • 7he Funda ehdl De h�ld In m Institution whose deposks ere Inaured by�fedenl agency,{nstn�mnntRYty,or ontNy(inchcding ��''�<:'���_
<br /> � Lender,ff Lender i� euch an Instkution) or!n any Federsl Home Loan Bank Lender ahaN appl,y the Funds to pay ihe Escrow :"�.�:�=ri:
<br /> ' Itema. Lender may not chuge 8orrower tor holding and epptying the Funds,annuoly an�ly�Inp tha etcraw account,or vertty�ng '� �
<br /> the Esaow Items, unleaa Lender prya BoROwer Interest on the Fdnds and epplicabte law permif� Lender to m�ke euch s i " ��'�.+-
<br /> chupe. Howe�er, Lendx may roqufre Borrower to pay a one-Ume cherge fa an independe�it re�l eat�te tuc reporthg servlce „• ''`
<br /> '. �Y uaed by Lendu► in connecUon wfth this ioan, unless app�cable taw provides othawlso. Unless an spreement b rrude of �
<br /> ,•. k appNcabis kw requkes htxeat to be pald,Lende►eh�d not be required to p�y 9ortower any inr,�ett or e�minpa on the Funds. ", n�:�.;
<br /> ��.� Barower and Lender rrwy agrea i� wrtting, however, th�t interest ehaY be pald on the Funds. Lmda ahaY gtve to Borrower, �'''": -
<br /> � �•.�!i wNhout chvye, en annwl eccounting of the Funds, showing credits end deblts to the Funda anci tha purpoae tor whtch each ,,��
<br /> debft to the Funds was mnde. The Funds are pledged�s additiond Fecurity for eW numa securtxi by the Security Inawment. ' �..�s�
<br /> If the Funda he{d by Lender exceeci the smos�rrte pertnitta!to be held by appAcabie law, Lendar eh�ll account to Borrower —
<br /> . fot the exceaa Funds (n accordu�ctt witt�tha requkernents ot appUcabie law.If thn emount �t the Ftmda held by Lender at sny �����
<br /> • tkne is not aufAdent to pay the Esaow Itana when due, Lender may so �oGy Borrnwer in w+tting. �nd, in such case Borrower =_==—
<br /> �� shdl pey to Lendar the unount necessary to make up the defldency. Bortower ehaN n�ke up lka de'ncte.-�cy!� �o moro than �'.;���
<br /> ,�, twdve monthy paymente,at Lender's soie discretbn. F::
<br /> UpCn payrtlent In fu� ofi aii auma aecureti by ihis Sat.vri'ry insin�maii. ia�ua oi�a8 pi�n�ti+u°y�Qi3��d:8 .^,wi..:�F.w:ry Fi7R v =
<br /> ' held by Lendar. H, under pvegnph 21, Lenda sh�ll acquire or seA the Properiy, Lmda. prhr to tha acqulsiUon or sale of the =
<br /> Property, shaN appy �ny Funds hetd by Lender at tho time ot ncqulsiUon or sale as e credit agtlnst the suma searod by thla
<br /> _ 3acurity Instrument. �
<br /> � 3. llppliCatlon of PaytitAntB. Untess epplicabla law provldes otherwise, ah puyinenta receNed by Lender under
<br /> , puagrapha 1 and 2 sIW be applied: ftrat,to any preEraayrtvx►t charges due under the Note�;sacond,to emounts payebb under
<br /> _� � ' persg�ph 2;thkd,to Interest due;fourth,to ptkidpel due; end kst,to eny kte charges due under thn Nots.
<br /> �,, Y �� 4. Chsrg�s; UM3. Barc►wa shnll pay eN taxee, aesesama�ts, chugen, fln�s and �asHlons attr�buUbla to the
<br /> � Property whtch mey atWn priority over thle Security Instrument,and leasehold paymenta or yXound renta, B �ny. Barowa shdl
<br /> ''. , .. .., pay theae obkgMtlons In tha mmner provlde�i i�� Nu��yi6jii� �. iri ii r�ot pslG In that r��ennbr, eorrower nheW p�y them OII INTN
<br /> "` " °�" dkecty to the peraon owed payment. Barowe►shW promptN tumish to Lenrler eH notlata ot emounts to be pald undx thia
<br />_ � puayraph. It Borrov+rer mekes theae paymenta dkectly, Borrower shR9 �romptlY fi�m�Ri� to Lendar recetpto evldandng the —
<br /> �-...=..,�>•w ��Borrowx shd promptly discharge any!'ian whfch hea priortry over thls Secudry Instn�me�►t unfe+ss Borrower. (�)ayrsoa In
<br /> ns:%"•"=•••�.�•• wdtlng to the pRyment of the obYgatbn secured by the Iten In s manner acceptable to I.e�der; (b) contsste In gaod hith the �—
<br /> _-�^"•"�� I"ron by, or defenda ag�hat entacert�r►t o1 the Iien In, legal proceedings wNch In the Lender'e opinlon opente to prevent the
<br /> �";: .�"�'"'" enforc�ner►t of tha Hen;or (o) securoe nom the holder of the ilen en a{�reement sa4sfecUsry to Le+ncle►aubordin�tinp t�he Na�to
<br />�' '�=�•'r thle Seeudty Inatrument If Lender detxrtdnea that eny paR of the Property la subJect to n Ilen whkh m�y attdn prinrNy over thla
<br />".u=q�1`:a'.' . --
<br />�:set a,:;:;�,� Security inatrument, Lender tndy qh►e Borrowa a notice Identttyinp the Um.Borrower nlwJl satisty tho Ilen or Wce one or more of
<br />- �•� �� the nctlone set forth above wtth(n 10 daye of the glving of notice. __
<br /> ''`� 5. Hazard or PropYl�ty 111it�r�nC�.Borrower sheU keep the Improvemcnts now axlsUng cx heroefter erected on the
<br /> '=',f` � � Property fnsurod agslnet loas by ttre,harerda Included within the te+m 'exlended covaraqe' and �ny other h�zarde, indudinp ---
<br />-'..:4,;-�s.�R., tboda or tlrsodk�p,for wh�h lendx requkea Inauru►ce. This Insurance ahel be mainte;ned In the smounte and for the pabda =-
<br />___ �.; � that Lender roquk�as. The insuruice csrtler prov{dk►p tho Inaurence ehell be chosen by Bortowix subject to lenda's approvai
<br /> �-'_�'' whieh ehaN not be unreasonaby wRhhdd. It BOROWK�lIIO�O malntaln covereffe dnecrfbed nbove, Lender r►�y,�t Lender'e =-
<br /> =�''�'y;;�;`'" opUon,obteln coverega to protect Lender'e dghts ln the Property In accordance wilh pa�wrgraph 7. �,
<br /> ��,,;��.r --•�• AM In�uronee poHclea and renewds ah�l be eeeepteble to Lender and shaq Indude a etandnrd mortpepe eteuee. Lender c'-'
<br />�;�.ti:="'�. ahW have the dpht to haW the poHdes and renewels. If Lender requlres,Borrower sl•,rL prompty flNe to Lender el recdpts of a:,,
<br /> � '+*�^=-- ptld promluma end renewai notkes. In the avent of loss, Burrower ehell gNe prompt nolfce to the Insurence cnnle►ertd Lendar. --
<br /> i. ° • LPnder msy make proof ot losa il not made promptly by Bortower. �',�`�.-
<br /> Unleaa Lenda and Borrower othervvlso agree In writing, inaurnnce proceeda ehell be eppliad to rostoratlon or repelr of the ----
<br />� . � Rcporty d�maged,M the restoraUon or rep�r ia economically teeaibte and Lender'e aecuriry le not lesaened. if the restoraUon or —
<br /> � ropatr la not ecanomlcaVy teaaibb or Lende►'s secudty would be lessenod,ihe Inourance proceeda ahsll be applied to 4he sume '----
<br /> � secured by this Securily In�trument,whether or not then due, with any excess peJd to Borrowe►. If Borrower ebendone the '------
<br /> Property, or does not anewor wilhin 30 deya n notice irom Lender that the Insuranc+i carrfer haa oflered to settle e clsim, then �, `.�`d:°.•'?`��___-
<br /> �.�''�' Lender may coNect the insurance proceeda. Lender may une tho proceeda to repair or reatore the Property or to pay sumo ' �t:i�5'��`,= _
<br /> �. ;1 _.,x�e�:-.
<br /> eecured by this 3ecurfry Inetrument. whether or not then due. Tho 30�y pertod will begin when the noUce la 8lven, ' �"��'��tir�;:.
<br /> ��,n!T`�
<br />= Unleas Lender and Borrower othamisa agrea in wtiting, any appiicatlon o} proceeda to princ�vel eheil not extend or �:.�,i• .}te::
<br /> postpone the �uo date oi the monthy pnyments reterred to In paragrapha t and 2 or chsngo the amount ot the paymente. It .,,.�,.��;�;•„� ..
<br />- � under panproph 21 the Property ta ncqulred by Lender, Bortower's dght to any Inaurnnce palicias and proceeds resulting from '�;"�?.�-;.
<br />� d�rttsge to ihe PropeAy prlor to th�ucqulsitlon shell pass to Lender to the eMent o1 the sum� 6y this SecuHry Instrument �_ _;� __
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<br /> 'T immcc9atelyr prior to the acquis�ton. -
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<br /> 6. Occtapancy, Pr��rvatlon, Matntanenoe and Protection of the Property; Borrowcr's Laan
<br /> Applieatlon; I.�as�holds.Bortower ahall occupy, establlnh, nnd u�e the Property as Bortower's pdncipal resldmce wiihin
<br /> .. 81)ft�/ dsy6 9R8f tlt6 executlon of this Sacurity Instrument and ahall continue to occupy tho Property aa Borrowa's princlpal .
<br /> _ • • reeldence for at least one yeer efter ihe date of occupancy, untosa Lender othanvise agrees In wdting,which conomt ehall not
<br /> . be unrcas�nebty withheld, or unless oxtenueting circumstences exlat whieh ero beyond Bnrtower's control. Borrowtt ahall not . ,.
<br /> • destroy,damage or fmpalr the Property, allow the Property to detcrforete, or commit wnste on tho Property. Borrower shall 6e In
<br /> defauR If any forfeituro nct[on or proceeding, whether civll or alminal,Is bepun that In l.ender's good fafth Judgment could resuft � �
<br /> In fotit�'ture of the Property or otherwise meterially impalr the Iir.n created by thla Security InsWmc�it or Lender'e securiry Interest �
<br /> F1318.LM0(3�B8) Puflo 2 of S
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