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20110279�
<br />BORROWER COVENAN7
<br />has the right to grant and conve,
<br />encumbrances of record. Borrower ,
<br />claims and demands, subject to any e
<br />THIS SECURITY INSTRU
<br />covenants with limited variations b�
<br />property.
<br />Borrower and Lender coven
<br />LTNIFORM COVENANTS.
<br />1. Payment of Principal, I�
<br />and interest on, the debt evidenced b
<br />2. Monthly Payment of T;
<br />monthly payment, together with the �
<br />for (a) taxes and special assessment
<br />ground rents on the Property, and (
<br />which the Lender must pay a mc
<br />Development ("Secretary"), or in an
<br />held the Security Instrument, each
<br />mortgage insurance premium to be
<br />mortgage insurance premium if this
<br />be deterxnined by the Secretary. Ea
<br />"Escrow Items" and the sums paid t<
<br />Lender may, at any time, ci
<br />exceed the maximum amount that
<br />Settlement Procedures Act of 1974,
<br />3500, as they may be amended from
<br />RESPA for unanticipated disbursen
<br />the account may not be based on am
<br />If the amounts held by L
<br />RESPA, Lender shall account to B
<br />funds held by Lender at any time arf
<br />Borrower and require Borrower to �r
<br />The Escrow Funds are p
<br />Instrument. If Borrower tenders to
<br />credited with the balance remainin�
<br />premium installment that Lender ha
<br />refund any excess funds to Borrc
<br />acquisition by Lender, Borrower's a
<br />for items (a), (b), and (c).
<br />3. Application of Paymen�
<br />follows:
<br />First, to the mortgage insi
<br />charge by the Secretary instead of th
<br />Second, to any taxes, speci
<br />other hazard insurance premiums, a
<br />Third, to interest due unde
<br />Fourth, to amortization of
<br />Fifth, to late charges due i
<br />4. Fire, Flood and Othe�
<br />Property, whether now in existe
<br />contingencies, including fire, for wt
<br />amounts and for the periods that
<br />Property, whether now in existence
<br />the Secretary. All insurance shall be
<br />any renewals shall be held by Ler
<br />acceptable to, Lender.
<br />In the event of loss, Borro�
<br />of loss if not made promptly by B
<br />directed to make payment for such
<br />or any part of the insurance proceed
<br />indebtedness under the Note and thi
<br />in Paragraph 3, and then to prepa
<br />Property. Any application of the pr
<br />monthly payments which are referrE
<br />insurance proceeds over an amoun
<br />Security Instrument shall be paid to
<br />In the event of foreclosure
<br />extinguishes the indebtedness, all r
<br />shall pass to the purchaser.
<br />5. Occupancy, Preservai
<br />Application; Leaseholds. Borrow
<br />residence within sixty days after the
<br />or transfer of the Property) and sha]
<br />least one year after the date of oc
<br />hardship for Borrower, or unless
<br />Borrower shall notify Lender of an�
<br />damage or substantially change th<
<br />excepted. Lender may inspect the ]
<br />Lender may take reasonable actior
<br />shall also be in default if Borrower
<br />information or statements to Len
<br />connection with the loan evidence�
<br />Borrower's occupancy of the Prope
<br />16256.CV (11/07) 905159
<br />S that Borrower is lawfix]
<br />the Property and that
<br />iarrants and will defend �
<br />icumbrances of record.
<br />v1ENT combines uniform
<br />jurisdiction to constitute
<br />and agree as follows:
<br />terest and Late Charge. ]
<br />the Note and late charge�
<br />xes, Insurance, and Oth�
<br />rincipal and interest as set
<br />levied or to be levied ag�
<br />) premiums for insurance
<br />•tgage insurance premiu�
<br />year in which such prem
<br />nonthly payment shall a
<br />�aid by Lender to the Sec
<br />3ecurity Instrument is hel�
<br />;ept for the monthly cha
<br />Lender are called "Escrov
<br />llect and hold amounts fo�
<br />nay be required for Borrc
<br />12 U.S.C. § 2601 et seq•
<br />ime to time ("RESPA"), e
<br />;nts or disbursements bef
<br />unts due for the mortgage
<br />nder for Escrow Items e
<br />rrower for the excess fun
<br />not sufficient to pay the E
<br />ike up the shortage as per,
<br />�dged as additional secu
<br />,ender the full payment o
<br />for all installment items
<br />not become obligated to p
<br />ver. Immediately prior t
<br />count shall be credited wi
<br />All payments under
<br />�ance premium to be paid
<br />: monthly mortgage insur�
<br />1 assessments, leasehold �
<br />required;
<br />the Note;
<br />he principal of the Note; �
<br />ider the Note.
<br />Hazard Insurance. Bo�
<br />ce or subsequently ere�
<br />ch Lender requires insura
<br />,ender requires. Borrowe
<br />�r subsequently erected, a
<br />carried with companies a�
<br />ier and shall include los
<br />er shall give Lender imm
<br />rrower. Each insurance
<br />>ss directly to Lender, in�
<br />may be applied by Lende�
<br />Security Instrument, first
<br />ment of principal, or (b
<br />ceeds to the principal sh
<br />t to in Paragraph 2, or ch�
<br />required to pay all outsl
<br />he entity legally entitled
<br />�f this Securiry Instrumer
<br />aht. title and interest of ]
<br />of the estate hereby conveyed and
<br />erty is unencumbered, except for
<br />the title to the Property against all
<br />for national use and non-uniform
<br />security instrument covering real
<br />�orr wer shall pay when due the principal of,
<br />due nder the Note.
<br />r C arges. Borrower shall include in each
<br />fort in the Note and any late charges, a sum
<br />inst he Property, (b) leasehold payrnents or
<br />req ired under Paragraph 4. In any year in
<br />i to the Secretary of Housing and Urban
<br />um ould have been required if Lender still
<br />>o i clude either: (i) a sum for the annual
<br />eta , or (ii) a monthly charge instead of a
<br />by he Secretary, in a reasonable amount to
<br />ge y the Secretary, these items are called
<br />n___�_ n
<br />a), I
<br />v to
<br />�w Items in an aggregate amount not to
<br />escrow account under the Real Estate
<br />mplementing regulations, 24 CFR Part
<br />that the cushion or reserve permitted by
<br />e Borrower's payments are available in
<br />ance premium.
<br />the amounts permitted to be held by
<br />required by RESPA. If the amounts of
<br />Items when due, Lender may notify the
<br />l by RESPA.
<br />or all sums secured by this Security
<br />,uch sums, Borrower's account shall be
<br />�), and (c) and any mortgage insurance
<br />he Secretary, and Lender shall promptly
<br />oreclosure sale of the Property or its
<br />� balance remaining for all installments
<br />1 and 2 shall be applied by Lender as
<br />to the Secretary or to the monthly
<br />or ground rents, and fire, flood and
<br />shall insure all improvements on the
<br />►gainst any hazards, casualties, and
<br />iis insurance shall be maintained in the
<br />also insure all improvements on the
<br />loss by floods to the extent required by
<br />i by Lender. The insurance policies and
<br />ble clauses in favor of, and in a form
<br />3iat notice by mail. Lender may make proof
<br />�mp ny concerned is hereby authorized and
<br />;ad i to Borrower and to Lender jointly. Ail
<br />at i s option, either (a) to the reduction of the
<br />� an delinquent amounts applied in the order
<br />to t e restoration or repair of the damaged
<br />1 n t extend or postpone the due date of the
<br />ige he amount of such payments. Any excess
<br />ndi � indebtedness under the Note and this
<br />or
<br />on, Maintenance and P otec
<br />r shall occupy, establish, and
<br />execution of this Security nst�
<br />continue to occupy the Pr per
<br />,unancv, unless Lender d terr
<br />extenuating circumstancf
<br />Property or allow the Pr
<br />'roperty if the Property is
<br />to protect and preserve
<br />during the loan applicati
<br />3er (or failed to provid�
<br />l by the Note, including,
<br />ty as a principal residenc
<br />Page 2 of 5
<br />If
<br />• transfer of title to the Property that
<br />in and to insurance policies in force
<br />on of the Property; Borrower's Loan
<br />�se the Property as Borrower's principal
<br />ment (or within sixty days of a later sale
<br />� as Borrower's principal residence for at
<br />nes that requirement will cause undue
<br />which are beyond Borrower's control.
<br />-ower shall not commit waste or destroy,
<br />to deteriorate, reasonable wear and tear
<br />t or abandoned or the loan is in default.
<br />acant or abandoned Properry. Borrower
<br />�cess, gave materially false or inaccurate
<br />ler with any material information) in
<br />t limited to, representations concernmg
<br />is Security Instrument is on a leasehold,
<br />GOTO(OO15c689)
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