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<br />' � TOGEfHF�i WI7H a11 the imyrovemeMs naw or he��rea�ter erected on the property. end all easements. appurtenances. und
<br /> Sutures naw or hereatter a pari of tha property M�H�lacements and additius�S shall also be eevered by th�s Security Instrument. ; , • ,,;.4`..'S' _
<br /> ' AII oi the toregoing is referred to in this Security tnstrument as the'PropeAy." � �-_
<br /> � BOAROWER C�VENANTS that Borrow�t is tawfu�l seaed at the est�te hereby canveyed and has the nght to grant and � :
<br /> � convey the PropeAy and tha! ihe Property is unencumbered. except for enambrantes o1 record. Bonovrer r�arrants and nill •�'�. • �.;., . �
<br /> �, defend generalty the titte to tho Property agamst alf da�ms and demands.sub#ect to any enwmbrances of record. _
<br /> TfilS SECURtTY INSTRUMENT comC�ees unitcrtn covertants tor nationai use and non-unilartn covenants with 6mRed �� ,
<br /> ' ' .h.• . ,F_
<br /> vatrations by�urisdiction to constitute a uniform security mstrument covering real property •• � v
<br /> UNIFORM COYENANTS. �nnower and Lender covertant and agrea as foUows: _�'',�, � "
<br /> .`•�� 1. Payment o9 Prin�fpa� artd Interest: Prepaymeat and t.ate Charges. Bortower shaU promptty pay when ':..•���.� v--
<br /> dus the prinapal ot and interest on the debl evldenced by the Note and any prepayment and late charges due under th�Note, , . ' �,
<br /> t 2. Funds fof Taxes ana! tnsurance.Sub�ect to appGCabte law ur to a written waiver by Lender. BoROVrer shaU pay � '..� .._� '
<br /> to Lendes on the day monthty payments are due under the Note. untd the Note is paid m fu0.a sum ('Funds') for (a) yeary . • , � _
<br /> _- taxes arsd asses�,ments wh�ch may attam priacily over this Securiry !nsVUmert as a Iien on the Property: (b) Year�Y teasehold _ ,�t'� _
<br /> • . payments or ground rents on the Property. ii any: (c) yearly hazatd or propeRy msurance premmms: fd) Y�N ftood insurance , .
<br /> , premiums. if any. (e) yearfy mortgage insurance pmmiums.�t any:and (�any sums payabie Dy Borcower to Lender m accord�nce � _, <_.Y
<br /> wRh Ihe provisians oi paragraph 8. in tieu of the payment of mortgage insurance premiums. These rtems are cailed 'Esaow � � _�w x....�._,.; ,_
<br />� Items." Lender may. at ;u�y time. coliect arsd hold Funds �n en amount noi to excxed the maxunum amount a Iender tor a ,�-�.;�;
<br /> �- � tedera7y related moRgage tosin may requQe for 8orrower's escrow accaunt under the federal Rea! Estate Setttement Procedures i :�_.-_ .- Y�:-?;_-'-
<br /> � �
<br /> Act of 1974 as amended from time to tlme. 12 U S.C..r3 2601 et seq. ('HESPA'). unl2ss another law that app�es to the Funds r �'g' �.:
<br /> sets a lessflr amourtt fl so. Lender may.at any time, co(tect and hotd Funds in an amaunt not to exceed the lesser amou�t. �fpy ���;;�,
<br /> he amount o1 Funds due on the basis of current data and reasonable esUmates ot expenddures of tuwre `t•_���`f----��-----
<br /> Lender may estimate t tCi:��°-�+r'"'��^ ,,--
<br /> Escraw Items or othanrrisa in accordance with appl'u:able taw.
<br /> The Funds sha0 be hetd'm an insGhition vrhose deposits are insured by a federal agency.instrumentalityr. or entity(ndudin9 �:��;��,_-
<br /> Lender. 'rf Lender is such an instihdion) or in atry Federal Hame Loan Bank Lender shall appty the fuads to pay the Escrow .,:�_:-__�=_�;.,:
<br /> � Items. Lende[may not charge Borrower for holding and apptying the Funds.annusf[y analym�g tha escrow account or veritying T-.-- _
<br /> �..x---__
<br /> the Escro�v ftems, u�less Lender pays Borrower (nterest on the F�tndg and appticable law perm�ls lender to make such a r�-:�?g�• .:-•�'-`-
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<br /> charge. However. lender may require Bortower to pay e one-time chsrge for an indpendr�t real estafe tax reporting serv6ce ; .�;_
<br /> �..�, �s-� by Lender 'v► cannedion with this tos. untese ?�+necahtP Iaw gravides othenrrise. Unless an agreement is made or � ��.';
<br /> app6cabie law requ'ves interest to he paid.Lender shatl not be required to pay Borrower arry rtRe�st a►c�ings on the�unds. --- __
<br /> Borrower and Lendpr may apee in writing. hov�eve►, that interest shall he paid on the Funds. lendg �h�!give to Bnrrower. •. ''�'
<br /> -- - v�tthout charge. an annua!accoust:,�g ot the Funds. showmg credts and debits to the F�and th.e!aartx-�e for whEch each ,� �" �., . :,��... .
<br />` debit to the Funds was made. 'T're Funds are pledged as add;ronal security ta ali sur_ss s�.�sL-d by the��ry �nstrument �. ,� r�,�-:,. .:; a�_-
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<br /> B the Funds held by Lender exaeed the art:ounts pert�to be held by applieab'e���-•�der ss.�f.aceount to Borrower „ � �:,1,'.._
<br /> �f` � for 4ha excess Funds in accordance with th���.:irements ct applicable law.If the amour!:�c6':he Fur.as k.��d by Lender at arry �`�:�
<br /> time is not suft3dent to pay the Escrow items ��:'sen due. Ler.der may so rte:dy Bortoww in writing, an� •rr saeh case Borto+ver . . •'-;;�-_
<br /> " ' shalt pay to Lender the amaurrt neeessary to make up tfie�.,�tciency. 6ccrcnyel shall make up the deficiency in no more than `���.�
<br /> tr�ve morrthly payments.at Lender's sole disaetion. ,�1• . ' .,r''' .
<br /> Upon p�yment (n fu�of ail sums seated dy this Szc:,-ia hastrumen� lender shall prompUy ►etund to BoROwer any Fu�ds
<br /> hetd by Lendar. 14, under paragraph 21. Lertdet shaU acqui� rr seif the Properiy. Lender.p�inr to the acquisition or sale ot the }F
<br /> � PrepeRy, she3�M anY Funds held by Len�rt�the Ume of acquisition •;,sale as a credit agafist the sums secaired,6y this -�;���
<br /> Securiry lnstrurr�ra� t
<br /> ' 3. AppiicaYlon of Paymerats. l:nlx�s applicable Iaw provides othenrrise, all paymenfn r�o=n,a� by Lender under ��:�,�T,_:��_
<br /> paragraphs t end 2 shall be�7ied: flrs� �a:�f prepaymont charges due under the M1lote: second,te antunts payable under `� `=
<br /> paragrapfi�thGd,to interest d.u±fouRh,t9 �1Ti:y72I dUB;and last,to an late charges dua c:r.'�.'a'the lux�.
<br /> 4. Charges; Liens. tn�:rower sha�4 r�y all taxes. assessments. charges, fines ��d impositions atbibutablo to the '�y���." ��` �j '
<br /> Froperty which may ettaln dori over this �au lnstrumen�and teasehol�paymerrts or ound re�`.� ii any. 8oaawer shaN ,� � • ;dr;
<br /> P tY � � ' ��f��. �',
<br /> pay these obfigaUons in the manner provided�n paragraph 2, or if not pald in that manner, Bormwer srr�!pay them on Ume ��##�;..
<br /> .eac•. '�.c�..
<br /> d'uectly ta the person owed payment. Borrower shall promptiy fumish to Lender all notices of amounts to be pald under this �•.
<br /> � ��graph. if Borrower makes these payments direclly. Bortowor sfiail pcompUyr fumish to Lender receipts evidencing the ; , . ';.� ;.
<br /> . ^��_
<br /> 3�-ients. �'. p'm� a..�«T-
<br /> . � Bortower shaU promptlyr dlscAarge any lien whtch has p-�b:fty over this Securily Instrument uniess Borrower. (a) �;:s3s in �._
<br /> ' wtiUng to the paymont of the o611gation secured by the Ilen in a manner a,-.septable to Lender, (b) corrtasts In good faith the '��r•^✓`�_�`
<br /> • fien by, or detands agafnst entorcement of the It�m in, legal proceedings v�!i�h in the Lender's opinlon operate to prevent ihe T^.
<br /> eniorcement of tha lien; or(o� sewres from the holder of tha lien an agteemeni saUsfadory to Lendel su�or�natitig the ilen to �_,s,��,�.._._.
<br /> this Secuciry In�trument If lend¢r detertnlnes that any parl of the Property is subject to a Uen whtch may s:fain pdorfty wer this ���-'�_-
<br /> • 3earity(nstrument, Lender may�dvo 8orrower a notice identifying the lien.Borrovrer shall satisty the tien�ar take one or more oi =_�
<br /> • t1tr�actions set torth above vrtlYir t) days of the giVinp of noUce. _ _____
<br /> • 5. HBZetd or Prop�aLy Insurarae. Borrower shall keep the improvements�ow exisUng or t+ereatter erected on the ,
<br /> Propeaty insured agalnst loss by f.re, hazares Inctuded within the term 'extended coverape'artd any a Ter hazards. inctuding '±
<br /> •... 11ooCs or tiaedr.g. for which Lender requlres Insuranee. This Insurance shall be maintained(n the amGU^°.s end for the peflods
<br /> �.`.at Lender requlres. The insurance cartier providing tfie insurance sha0 be c�osen by 8orrower subject to Lender's approvat -
<br /> ' • • sr.vri� shali not be unreasonabry vrithheld. H Borrower fails to malntain coverage Cesaibed above. Lende�may. at Lender's `�t� .
<br /> u�trcn,oMaln coverage to protect Lender's rights In the Preparty In accordance with paragraph 7. Ji' _
<br /> Ali lnsurance poficles and renewa�s sha0 be accept�3le to Lender and shalf fnclude o standazd moRgage cia�".�. Lender -
<br /> � shafl have the�.i.;,tit to hotd!he polieies rind nznewats. 8 Lender requfres, Sorrower shall prompUy gNe': bender ali receipts oi �� f`
<br /> ' pald p�emiums�+�renewal notices. In th��e�•a�t of loss.Bortower shall gria prompt noUce to tho ins�.a;��e carriar and Lender. ��,_�.�._
<br /> �,� .' Lender may make proof ot loss H not m26¢rD'�mPtty by BoROwer. ___-�'�___
<br /> � � Unless Lender and Borraiver othenvisa agree in wriUng, insurance proceeds shall be applled to restoration or rn�air of the �;�;��,-
<br /> ��aperty damagad,i1 the rr�Yrr.-,,�'n� or re�air ls economipily teasibte and Lenders secudty is not lessened. 11 the rc�c�alion or _ ,,, , __
<br /> . ', ;�,;,Fiir Is oot eeanomtcally ir�A:+i�,:er L,ertCr r's security woutd be lessened,the insurance procoeds shall 6e epplled ta tfio sums —=y���-
<br /> secured Dy thls Security ins:•:��r.t. whafl�:c ar not then due. with any excess paId to Bortower. II Boaower ebendons the ���:��-
<br /> � Property, or daes not answer within 30 dc;�� noUce tram Lender that tke�nsuranee wrtler has oNered to settle a claim,then --
<br /> Londer may coitecl the Insur�nco proeeeGa :.vnder may use the proora:F•s to repalr or restore the Properiy or to pay sums _- -- -__
<br /> •se.�ured by this Security Ins�,ment,whether or not then due. The 30•da�perlod will begin v�hen the noUce is given. c,�,,�.� -
<br /> UNess Lender and Barrs�,.;sr othenvise agree in w�r,:r.3, any appliceUon ot proceeds to pdnci�ul shntl not e•.�;c:.d or , -_
<br /> �ss�one the due date ot 4he 7onthly payments retene�':� �� paregraPhs 1 er.d 2 or chanpe the amount ot the�:.rrisuhs Ii� '�+' .
<br /> under paragraph 21 the Property is acquireC�y Lender. Bortower's do'.�t.to any insurance policies and proceeds re:uff:i��g"tC"►
<br /> damage to the Property p�lor to the acr,:i:sjt�o� sh�il pass to Lender ;s�tho extent of the sums by this Security Instrument =-
<br /> a.��
<br /> immediatety pdor to the acqulsiUon. — —
<br /> 6. O�ccup�ncy, Proservation, Main4enance and Protection o� tho Proporty; Borrowor's Loan �^__
<br /> Applleation; LeSSBhol�3. Borrowet shall accupy, establish, and use the Property as Borrou�er's pdndpal residence within `�`°""""'��^
<br /> �:��ntira,.�_�_- .
<br /> � sixly days after the executien ot this Security Insbument and shall continue to oca:fi�+y :he Property as Bortowef=� :rincipat • .,;� ,
<br /> � • residence tor at least one year after the date o1 occupancy, unless Lender othervBse a�•a2s�n writlr.g, which conser.0 siail not A� ��''�";;;:�"',
<br /> . be unreasonably withhefd.or unless extenuatlng circumstances exist wh!ch sre bayor.d Bortower's control. Bonov�er shall nat • •
<br /> _ destroy.damage or impair the Property,altow the P►opeRy to deteriorate. :c•:ommR +�aste on the Properiy. Bonower shall be in ;`".''3 T''"-'�'�� _
<br /> � default H any fodeiture acUon or proceeding, whether clvii or cdminal.is begun that ia Lender's good taith judgment could result �-�=-��=�-r�-_
<br /> � � �.n toAeiture of the Properry or othervvise matenaity impair the fien ueated by this Secur•:��••�nstrument or Lenders secuc!ti�interesL ��,�+; .;,:r.�.:
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