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<br /> TOdETHER WITH all the Impravemr.nts now or hereafter c��octed on tho property, end all easements, appurtenanco�,and
<br /> ' � flxtures novr or hereafter n port o} 4he propert��. A!I ropincemonis end �dditlons shall also be covered by this Security Instrument.
<br /> All o} tho foreflolnr� Is rofened to In thl3 5ocudty Inutrumont as Iho 'Propedy." -
<br /> •� BORHOWER COVENAN73 thnt Borrower Is Iswiully selzed o1 Iho eslete hereby convnyed and hns lho right to granl nnd
<br /> convey tha Property and thet the Proporty Is unoncumbered, oxcept 1or encumLrencos of record. Borrower warranis and will
<br /> • delend flenerally iho titlo to tho Proporty ngnlnst all cinlms and domands,subJect to any oncumbrencos o1 record. •
<br /> THIS SECURITY INSTRUMENT combines unliorm c�vensnts for nntionel uso and non•uniform covenents wllh liml�ed
<br /> varintlons by jurisdictlon to conatltuto e unlform socurity inetrument covering real property.
<br /> UNIFOflM COVENANTS. Borrower nnd Lendor covonnnt end egrao es fo�ows: ,
<br />� 1. Payment of Principal and Interest; Pr9payment and l.ate Charges. Borrower shell promptly pay when
<br /> ' I due the princlpal of end Interast on the debt pvidencod by tho Note end eny prepayment end Iato choryos due under mo Noto. ,
<br /> � 2. Funda tor Taxes and Insuranoe.SubJect to eppllcable lew or to a written waiver by Lender, Borrower shall poy -� •
<br /> to Lender on the dsy monthly psym�nts ure due under the Note, untfl !he Note le pald In full, e sum ('Funds")for (a) yearty . . ___. _.._�t.
<br /> � taxes and assessments which may atlaln prlorlty over thls Securiry InstNment as a Ilon on tho Property; (b) yearly leasehold ,
<br /> .�°""t` payments or ground rents on the Properly, it any; (c) yeatiy hnznrd or property Insurence premlums; (d) yearly Oood nsurence ,
<br /> � �'�'" premiums. II any: (e)yeady moRgage Insurence promiums,if any; and (�uny sums peyable by Bon•ower to Lender in accordance �
<br /> � wlih the pruvlslons of paregreph B. In Ileu o1 the pay.nent oi morigage insurenee premlums. These Items aro called'Escrow . . ."
<br /> Items.° Lender may, at any time, collect and hold Funds in an amount not to nxceed tho maximum amount a lender lor e . ' '::":�
<br /> federalty re!eted moftgage loan may roqulre for Borrower's escrow nccount under the tederal Real Estete Settlement Procedures ;'. .y;;,..:1t,c
<br /> Act oi 1974 as amended from tlme to time, 12 U.9.C. �2601 et seq. ("RESPA'), unless enother law that app8es to Ihe Funds "• :;d.? s�
<br /> seta a le3ser amount. If so, Lender may, at any time, collect and hold Funds in en amount not to exceed the lesser amount. " �_ t"','f�_ :';'.`
<br /> � Lender may estlmate the emount oi Funds due on the basis of cunent data nnd reasoneblo astimates of expenditures of future !:+,+•r.:��
<br /> ' ;�'� Escrow Items or otherwlse In eccordance with appllcable law. �� .-�'`-
<br /> The Funds shall be held In an instltution whose deposits aro Insured by e federal agency,Instrumentality, or entity(including '-'•�?�;�---
<br /> Lender, If Lender (s such an Instltutlon) or In any Federal Home Loan Bank. Lender shull apply the Funds to pay the Escrow ';-',�j.•-_,-----
<br /> s Items. Lender may not charge Borrower for holding end applying the Funds, ennually analyzing lhe e�crow account, or verilying �I%��f?v'`�
<br /> j the Escrow Items, unless Lender pays Bortower interest on the Funds and appllceble law permlts Lender to make such a .;,;,_=
<br /> charge. However, Lender may requlre Borrower to pay a onetime cherge for an lidependent real estete tax repoHing service ;ti��;',.,_-
<br /> used by Lender in connoctlon with this loan, unless applicable law provides otherwlse. Unless an agruoment (s mada or __
<br /> �, applicable lew requires Interest to be pald. Lender shull not be requlrQd to pny Borrower any interest or eamings on ihe Funds. __---
<br /> Borrower end Lender may agree in wdting, however, that fntereat shall be pald on the Funds. Lender shall give to 9ortowec � sz-�,
<br /> � wfthout charge, an ennual accounting of the Funds, showing credits and de6lis to the Funds and the purpose for whlch each ��'_+•'
<br /> debit to the Funds was made. The Funds are pledged es additionel secudty lor all sums secured by the Socurity Instrument.
<br /> If the Funds held by Lender exceed the amounts pertnftted to be held by appllcabie IAw, Lender shali account 4o Bortower
<br /> for the excess Funds in accnrdance with the requirements ot eppllcable law.It the amount ot tho Funds held by Lender at any _
<br /> time Is not sufficlent to pey tha Escrow Items when due, Lender may so notity Bortowor In writing, and, In such case Borrower -'-
<br /> �.�; shall pey to Lender the amount necessary to make up the deflclency. Borrower shall make up the deflcfency In no more than
<br /> . twelve monthly payments,at Lender's sole discretlon. �
<br /> . . .,�"' I,Jnnrt nn�rmant In Slll nf nll ess�na canlrar� �v!h!o Car=rlN Inctn�mant lQ�r�Pf chall nmrrM,�v ra}�nrl tn Rn(rnyyw�anY F�in�1A '-- ..
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<br /> held by Lender. If, under paregraph 21, Lender shail ecqulre or sell the Property, Lender, p►ior to the acqulsltion or sele of the
<br /> Property, shell eppty any Funds held by Lender at thcr time ot acquisitlon or sele es a credit against the sums secured by this �
<br /> �',.� 8ecuriry Instrument. '" � ;;
<br /> ��,'��f 3. Applieatlon of Payments. Unless applicable law provldes otherwise, all payments recelved by Lender under
<br />-. � , peragraphs 1 and 2 shall be epplied: flrst, to any prepayment cherges due under the Note; second, to amounts payable undor "' •'-.
<br /> pemgraph 2;third, to Interest due; fourth, to princlpal due; and last,to eny late cherges due under the Note. ,�'
<br /> , , 4. Chat'g08; LI8118. Bortower shall pay all texes, assessments, charges, tines and Imposltlons ctttributable to the
<br /> - . . - •- Property whloh mey attaln prlodty over this Secudty Inswment, end leasehold payments or ground rents, if any. Bortower shall ~
<br />_..•, .~ - pay these obligatlons In the menner provlded In paragroph 2, or I( not paid in that manner, Borcower shall pay them on time --
<br />. . ....,.:.,� • dlrectly to the person owed peyment. Bortower shall promptly fumish to Lender all notices of umounts to be paid under thls
<br /> - �: -� ,: peragraph. It BoROwer mekes these payments directy, Borcower shell promptly fumish to Lender recelpts evidencing tho =
<br />_ ' � ° payments. ,.
<br /> �s';' Borrower shalt promptiy discherge any Iien which has priority over ihis Secutity Instrument unless Bortower. (a)ng�ees in !
<br /> _"s;=!:�j,.�,��,. �� wdting to the payment of the obligatlon secured by the Ilen In a manner acceptable to Lender, (b) contests In good faith the -
<br />�.:,.,F. Ilen by, or detends against enlorcement ot the Iien in, legal proceedings whlch In the Lender's opin3on opernte ta prevent the ��
<br /> - -- enforoement of tho Ilen; or (c) seeures}rom the holder of the Ilon en egreement �atlsfactory to Lender subordinating ihe Ilen to
<br /> = �' � � this 3ecu�i Instrument. If Lender detertnlnes that an
<br /> ly y pnrt ot the Property is subJect to e Ilen which may altain prlorily over this
<br /> _'rZ'�'� ��:� Secu�iry Insirument, Lender may give Borrower n notice Identifying iho Ilen. Borrower shall setlsSy tho Ilen or taka one or moro of
<br /> . '`�'•t�', � the actlons sot torth above wlthin 10 days of the giving of notice.
<br /> �� � S. Hazard or Property I�surance. Borrower shall keep the Improvements now existing ar hereafter erected on the
<br /> �__��:�.�;^ : Property tnsured agalnst loss by flre, hazards Includad with(n the tenn"extended coverage' and any other h�tzards,Including
<br /> i' :v ;Yy,.:' floods ar flooding, for whlch Lender requlres Inaurence. This Insurence shap bo maintalned In the amounts and for the pedods
<br /> -'�°`-'�� `�� that Lender re ulres. The insumnce carrfer rovldin the Insurence sheU be chosen b Borrower sub ect to Lender's a
<br /> i •� 9 P 9 Y 1 PProvai
<br /> -�s'5�;��� which shell not be unreasonabfy withheld. I( Bortower fails to maintaln coverage descHbed above. Lender may, at Lender's
<br /> --`-�=_=- o tton,obteln covera e to rotect Lender's d hts In the Pro e In accordance with ara ra h 7.
<br /> �.�:,,.,,,.,,„ P 9 P 9 P nY P S P _ �
<br /> ,..ti�{��•�,�. ..:,' ,, All Insurance policles and renewals shall bo acceptable to Lender and shall Inciude a standard mortgage clause. Lender
<br /> .,;�;!R�?��➢��j ahall havc:the right to hold the policles and renewals. If Lender requires, Borrower shall promptly give to Lender all recetpta o1 — _
<br /> '�'�:.m.+r• pald premlums and renewal notices. In the event o4 loas, Bortower sha�give prompt notico to the insurance cartier and Lender. ---
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<br /> - ��:;�;'' Lender may make provf o(loss if not made promptiy by Don�ower. —_-_--_-__
<br /> ' Unless Lender end Borrower otherwise agree In wdting, Insurence proceeds shail be applied to restoration or repalr of the — o---
<br /> Property damAged, il the restoration or repelr is economicalty ieasible and Lender's secudty Is not lessened.Ii the restoratlon or ���,;,y;��
<br /> repalr Is not economlcally feaslble or Lender's secudry would be lessoned, the Insurance proceeds shall be appued to ihe sums ��"=�
<br /> ' secured by this Securlty instrument, whethr. or not then due, with any excass pald to Borrower. If Bortower abandons tho ` `
<br /> � Properly, or doss not enswer vilthln 30 days a notice from Lender that ihe Insurance cerrier hass of(ered to settle a clalm,then � ��
<br /> � Lender may collect the Insurence proceeds. Lender may use the proceeds to repalr or reatore tho Property or to pay sums "" ,�t.;
<br /> • ti secured by thls Secur(ty Instrumont, whether or not then due. The 30-day pedod will begin when the notice fs given. �,� t� ' X✓
<br /> � Unless Lender and Borrower otherwlse agree in wrfting, any appllcc�tion oi proceeds to princlpal shall not extend or ::`':` ;,�•
<br /> "• postpone tho due date of the monthiy pAymonts reterred to In pareyraphs t end 2 or change the emount ot the paymenis. If ""}'r`-���. '
<br /> under peragraph 21 the Property Is acyuired by Lender, Borrower's right to nny Insurance poIlclQS and proceeds resulUng(rom ;"�?;�.,`;°-
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<br /> damago to the Property prlor to the ecqulsitlon shall pass to Lender ta tho extent of tho sums by this Security Instrument • -�-�• '�
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<br /> .__c-9- .____ .uuuov�a c.�ruvi av u�a a�yu�amvn. . ..
<br /> 6.�Occupancy, Preservation, Maintenancd and Protection of the Property; Bor�ower's Loan "
<br /> AppllCatI0P1; Le�SehOld9. Borrower shall occupy.establish, and use the Property as Borrower's principal residence within �
<br /> , sixry deys nfter the axecutio� of this Security Instrument and shali continue to occupy the Properly as Bonower's pHncipal • '
<br /> re�tdenae for at least one year after the date of occupancy, unless Lender otherwise agrees In writtng,which consent shell not
<br /> be unreasonably withheld,or unless extenuath�g circumstances exist whkh are beyond Borrower's control. Bortower shall not • �
<br /> destroy, damnga or Mpalr tho Property, allow the Property to deteriorate,or commit weste on the Pruperty. 8ortower shall be in
<br /> , defeult il any todefture actlon or proceeding, whethur civil or crimmul, is begun that in Lender's good faith judgment could result 't� „
<br /> (n lorieitura ot tho Property or otherwise materialiy impair the lien created by thls SecuAty Instrument or Lender's security interest. •
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