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<br /> TO�ETHER WITH all tho impravements now or herenfter erocted ofl lho properiy, ut�J nll eassmtnt�. ppurtcr.snce,. nnd �"'"���
<br /> � • fixtures now or horeafter n pun of tho property.All teplacement� nnd udditlons shnll�Iso bo covereq by this Security Instrument- �
<br /> All of tho(are�olnp fs roterred to in Ihis Secudty Inatrumenl ns lho'Praperty-"
<br /> BORROWER COV�NANTS lhat Borrower is lavrtully 3cfzed of lho ostulo hcreby cnnvoyed and hns tha rl,ryhl lo �nnt and
<br /> convoy Iho PropeRy and that Iho Property Is unencumberod. oxeept lor encumbrnncos al record. Borrower v�nrranis nnd will
<br /> defend genernliy iha iitle to [Ln Prupu�iy up3tns1 311 N3tfil9 flnd dem?!nda. Ru6)er.1 to uny e��cumbmnCOS ot record. _
<br /> THI9 SECURITV INSTAUMEN'f combines unitorm covenante lor nellonul uso nnd non•unflorm covr,nanis v�ith umnoa
<br /> � vurietlons by�urisdictlon to conntitute n uniform security Instrumant cavcring real property.
<br /> i UNIFORM COVENANTS. Borcower and Lender covenant end aqreo es tollowe: P p N „�hei�
<br /> 1.F'aymont of Principal nnd Interest; Prepayment end Lete CharAes. ecrrower snau rom t pay r
<br /> . �.,� due tho principal of and Intorest on iho debt evi�fenced by the Nole and any prcpnymcnt nnd Inte chnrgns due wider Iho Noto.
<br /> , � 2. Fuads ior T�uc�s and Insuranee.SubJect to applicable law or to a wrillen wa(ver by Lendor. Bonower shall pay�
<br /> , to Lendor on the day monthly payments ara due under the Nota, until the Note Is pald In lull, n sum ('Funds') for. (a) yesrly
<br /> ��*'�`� � taxes and assessments whlch muy atleln prlority over thfs Secudty Instrumeni ns n Iien on tho Property; (b) yoarry leasohold .
<br /> +?rt5'�" � paymenis or ground rents on ihe Property, II eny: (u) yoariy hazard or property Insuranco premlums; (d) yearly tlood Inaurance .
<br /> • premiums, II uny; (o) yeady mortgago Insurance premiums,If eny; end (� any sums payable by Bortov�er to Lender In accordanco
<br /> • ' with the provislons of pnmgreph 8, in Ileu ot tho payment ot mortgage Insurnnce premlums. Theae Items ere called "Escrow
<br /> � items.° Lender msy, at ony tima, collect nnd hold Funds In an amount not to exceed Ihe maximum amount a lender tor a
<br /> �1 I federalty related mortgage loan may require tor Borrower's escrow account under the federel Real Estata S�rilement Procoduros
<br /> Act oi 1874 es amended from time to time. 12 U.3.C. @ 2601 et seq. ('RESPA'), unless another law that applles to the Funds �,:��4�
<br /> • sets e lesser amount. II so, Lender may, at eny dme, collect nnd hold Funds In an emount not to exceed the lesser amount. __
<br /> �'�'%;•:. • Lender may estimate the amount oi Funds duo on the basf� of current data and reasona6la estimates ot expendlturos o1(uture =__
<br /> - > Eacrow Items or otherwlse In sccordance wlth applicablo law. _ _=-
<br /> The Funds ahall be held In an Inatitution whoso Jeposits aro Insured by e todcrf►I agency. Instrumentaiity, or entiry (Including _ _.
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<br /> • Lender,if Lender Is such an Instltutlon) or in nny Federel Home Loan Dank. Lende�shap eppty lhe Funds to pay the Escruw _
<br /> kems. Lender ruQy not charQe Borrowcr tor holding and applylnfl the Fu�ds, unnuaity anaiyting tha escrotiv account,or veritying
<br /> the Escrow items, unless Lerider pays Oorrowor interest on the Funds and applicable law perm(ts Lender to make such e s=�
<br /> � .•�� charge. However, Lender may require Donower to pay a one-time charge Tor en Independent real ostete tax reporting service --
<br /> used by lender In connoctlon with this loan, untess appllcabla luw provldoa other.:�lse. Unless en eg►eement is made or �
<br /> '!:�,A ' eppltcable law requlres interast to be pald, Lender shail nat be requlrad to pay Bortower any Interest ar eamings on the Funds. �,;��`
<br /> ��:45 BoROwer and Lender may agree in wdting, however, lhat Uterest shall be pald on the Funds. Lender shall glve to Borrower,
<br /> �' ;s withoul chargo, an ennual accounting o1 the Funds, showing credits nnd deblts to the Funds and the purpose for which each r
<br /> �•�;?� � ` �; debit to the Funds was made. The Funds �re pledged es additionai secudty for all sums secured by the Securriyr Instrument. _
<br /> �:;;;r� It the Funds held by l.onder oxcoed the amounts permfKed to be held by applicable law, Lender shall ctccount to Borrower ,__
<br /> �<•.i•,�;� lor the oxcess Funds in accordance with the requirements of applicable law. II tho amount of the Funds held by Lendor at en;
<br /> �,�;;`i,�°-� . tlmA Is not sufticlent to pay the Escrow Items when due, Lender may so nottty Bortower In wdtlng, And, In such case Dorcower _
<br /> '• ��a� shal! pay to l.ender the amount necessary to make up the deticiency. Borrower shail make up the deflcfency in no more than _
<br />'�ti,;�;;:;�; twelve monihly payments,at Lender's sote disuetlon.
<br /> iinnn nsiymAnt In tun ot eli sums secured by thls Secudry InstrumcnL Lender shall promptly refund to Borrower eny Funds
<br /> _-~:�`Y "' held by Lender, If, under paragreph 21, l.ender shall acqulre or se11 the Property, Lentler,pnor to cne acquisiiiun u+ oa�e�4 tte
<br />'�=���' �� Rro o shaU e an Funds held b Lender at the timo of acqulsition or sale as e credit agalnst tho sums secured by this
<br /> .r.r;"�. P �71. PPN Y Y
<br />^ � Secudry Instrument.
<br /> �;�.;i��?;;+� . 3. Appllcatlon o4 Paymen�s. Unloss npplloable law provides otherwlso, ali payments reeoived by Lender under
<br />-,�;;;.�„v}.'. paragraphs 1 and 2 sha11 be applled: 4re¢, to any prepayment charges due under the Noto; second,to amounts payahle under
<br /> ..,�.:y.,�;�'� paragreph 2; third, to Interest due;tourth,to pdnclpal due: and last,to uny late chergos due under the Note.
<br /> ;�7r��:4�j 4. Ch�rgOS; Liena. Bartower shell pay ell texes, assessments, charges, fine9 end ImposNlons ariri6utable to the
<br /> • Propeity wh�eh may ntta�n pdodry over this Socuriry Instrument, end leasehold peyments or ground ronis, fi any. BuTOwer shall
<br /> ,:�%� pay these obligatlons in the manner provided In paragreph 2, or If not pald In that manner, Borrower shall pay them on tima
<br /> ""'• "�� dlrectly to the person owed payment. Bortower ahall promptly tumish to Lender all notices of amounts to be pald under thia
<br /> -_-�'"�� paragreph. If Borrower makes these payments directly, Borrower sha� promptty Nmish to Lender rece(pts evidencing the —.
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<br /> =-= psymmts.
<br />- --=:�_� 8orrower shall promptly discharge eny Ilen which has priodty over thls Secudty instrument unt�ss Borrower. (a) agrees In
<br /> - wrfting to the payment of tho obllgatlon secured by the Ilen In a menner aeceptebte to Lender; (b) contesta In flood teith the
<br /> °- `���� Ilon by, or datenda against entorcement ot the llen In, lagai proceedings which in the Lender's opinlon operate to provent the
<br /> "'•�� enforcerr+ent of the Uen;cr(c) secures irom the holder of tho Ilun nn egreement satislactory to Lender subordinatfng the Ilan to
<br /> -- - - — this Secutlry Inslrument.If Lender deiermines thet any part o} the Property Is subjact to a pen which may atteln pdodty over this
<br /> — Security Instrument, Lender may glve Borrower a notice Identitying the Ilen. Bortower shall satisty the ilen or take ono or more ot
<br /> "� ihe acllona set torth above wlthin 10 dnys ot the giving o1 notice.
<br /> v-- 5. Hazard or Proporty InsUrance.Bertower shuli keep 4he Improvements now exlsting or hereafter eracted on the
<br />;;f� Property Insured against loss by fircr, hazards Inciuded vfithln the lomi'e:ctended coverege" end any other hazards, Incfuding �
<br />=-�� floods or Aooding, for which Lender requlres Insurance. This Insuranca shell be mafntalned in the amounts and 1or the perinds
<br /> that Lender requlres. The insurence cartler provldin4 the Insurnnca shall be chosen by Borrower subJect to Lender's approval
<br /> which shall not bo unreasonabty withlield. If Borrower fails to maintaln coverage desaibed e�ove, Lender may, at Lender's
<br /> ����'�°''= optlon,ablaln coverage to protact Lender's dghts in the Property in accordance with paragrsph 7.
<br /> - All Insurance policles and renewals shall be acceptable to Lender and shall tnclude a standard mortgage clauso. Lender
<br /> _:-,��,;,-,�' ahall have the d�ht to hold the poilcles and renewais. If Lender requlres. Borcower ahall promptly ghre to Lender all recelpts of
<br />-_'-,��,, pald preMums and renewal notices. In the event ot loss, Borrower shall gtve prompt notice to tho fnsurance cartier and Lender.
<br /> 'rai';;:�.�"r Lender mey make proof of loss If not made promptry by Bortower.
<br /> .:;:,;:;�:�,_; , Unless Lender and Bortower othenvise agree in wdqng, Insuronca pro�eeds shau ho aRplied to restoration or repalr ot the
<br /> �==F�'� Prapetty damaged, If the restoratlon or rEpnir Is aconnmically feasible and Lender's security is not iassened. If the rostomtfon or
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<br />.�.�,�,:':��_.�. repalr Is not econamically teasibto ur Lender's secudry would bo tessened, the Insurence proceeda shall be epplied to the sums
<br />�;�,, secured by thls Security InsWment, whether or not then due, wfth any excess pald to Borrower. If Borrower ebandons the
<br /> � '. Property,or does not nnswer wlthin 30 days e notice from Lender that the Insuranco c:ertfer has oNered to sottte n cialm, then Os.:
<br />-.�;�,~. , Lender mey collect the Insurenco proceeds, Lender moy uso tho proceeds to repair or rostore the Propeity or to pey sums ���`,_
<br /> �` . ., secured by thls Security Instmment,whather or not then due. The 30-day period wUl begin when the eotice Is gNen. _,_�
<br /> •-~°� Unlacs Lander and Horrower otherwlae agree In writing, any appticatlon of proceeds to princlp�l shell not extend or Ei��,.
<br />_ postpone tho due date ot the monthiy paymenis reterted to tn paragrephs 1 end 2 or chanpe the amount of the payments. II (����`.
<br /> ���� under paragraph 21 the Property Is acquired by Lender, Borrower's �ight to nny insurance policles end proceeds resulting trom d=.;_
<br />,i��', dt�mage to the Property prfor to the ocqulsitlan shall pnsa to Lender to thn extent oi the sums by this Secudty Instrument
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<br /> �� •��`�' ����� 6�,O�cup+ancy,�Preservation. Maintenance and Protection of thx Prop�rty; Borrower's Loan
<br /> '� Applieat�on; Leasoholda. Borrower �hnll occupy, estebiish, nnd use the Property as Borrower's prfnclpel rasldence within ��.
<br /> - sfxty days aiter tho execution ot thls 3ecudty Instrument And shAll conti�ue to occupy the Properry ns Bo►rower's princlpal
<br /> • rasideneo for at least ono year aiter the date of occupancy, unless Lender othervviso agrees In writinp, which cansenl ahell not
<br /> � be unreasonabty withNeld, or unless extenuetlng dreumstancos oxfsl whlch are boyond Borrower's control. Bortower shnll not
<br />� destroy, damaga or impalr the Property, allow the Property to doteriorato,or commit�vi�ste on the Property. Borcowor shell be in
<br /> de}nult il any forfefture actfon or procaeding, whether civil or criminul, is begun that In Lender's good taith Judgment could rasult
<br /> In fodelturo 01 thv Property or otherwiso materially Impalr tho ilen created by this Secudty Instrument or Lender's security Interest.
<br /> �' F't3tG.LMO�ll961 Pno�•2 cl, �'�• ,
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