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<br /> . �.t:: TOGETHEA WITH all the Gnprovements now or hereafter erected on the propeRy. ' �. -
<br /> Toctures now or hereaRer a Part of the property.Aii reptacemerts er►d additions sfiaB aJso 4e covered by this Securiry instrume�t � °,.<.': •.•' °� '
<br /> .. Y�`_` . A0 of the toregoing!s referted to in this Sewrity Instrument as the 'Property.' _ . .
<br /> - -- --' BORROYVER COVENANTS that Borrower is Ia+r�iuAY se�d of the estete herehy corneyed and has the �ight to grant and
<br /> � ��`=` convey the Properry and that tAe Property is unencumbered. exeePt tor encumbranees of record. Bortower warrants and w�
<br /> . , .<•:� detend generaily the titte to the Property against a0 daLns ctnd de►i►ands.subje�to any encumbrances af record.
<br /> � � �� e .`� THiS SECURiTV INSTRUMEMT comibines unitortn covenants tor naUonal use end non�nitorm covenants with Bmit� - '�:<�.`� :
<br /> '��-`� _ ' � variatlons by judsdietlon to constitute a undorm security instrument covering real propertY• • `` ,
<br /> UNIFORM COVENANTS. Borto�ner end Lender eovenant and agree as toDows j ���. •°.` .
<br /> . .. . .t 1. Payment of P�inclp�i and IM�resx Prepayme�rt and Late C��and mce enarges due und�uPe Note� -'"<<.
<br /> due the princiAal at and interest on the debt evidenced hy the N o te an d any pr e pa y m � •- ,.' .,
<br /> ' 2. Funds for taxes and Insurance.Snblect to appacable law or to a writt.'n waive�by Lender.Bormwer shall p a y� °�.'
<br /> `• ��. ` �y�� to Lender on the day monthty paym-°Ms are dlie under the IVote, anUl the Note is Pa�d 1n tu0.a sum ('Funds') tor. (a)yea�ry , :
<br /> -.��".;_�.y c�. tnxes and assessments whlch may attain pdoriry over this Securtty Instrument as a tien on the Properry: (b) Yfloo inssuranc� � _ � �,y<`r!-
<br /> � payments or ground rents on ihe Property.if any: (c)yearlY hazar d or prop erry i n s u r a n c e p remiums: (�y e a d y► ��sr�
<br /> ; -- � pr�miums.if any,(¢}Yeariy mortgage insurance premiums.i!any, and(fl any sums payable by Bortower to Lender in accardanc�9a z ,
<br /> S,..` � with the prov i s ions a t p a r a g r a ph S, in tleu o f t he paymen t o f m o rt g a g e t n s u r a n c e p re m i ums. �'1'ese ��� � �d �E�o+v�
<br /> Items.` Lender may. at any time. eoUed aed hoid Funds in an amount not to exceed the ma�tirt►um amou r R a len der tor a �, • __
<br /> .,'S`. }2desalgr related mortgage loan may require tor Borrewers escrow accowit under the tederai Real Estate SeWement Pwcedures „ � _
<br /> Act ot 1974 es amended from time to time.12 U.S.C•�2801 et seq• ('RESPA�1• untess another law that aPP�es to the Funds
<br /> � t " "�� sets a lesser amount If so. Lender may.at any time.coQect a+�d hotd Funds in an emount not to exceed the lesser amount ---
<br /> � e Lender may esUmate the amoucrt of Funds due on the 6asis of current data and reasonabla estlmaces ot exPertd�tures of tuhue
<br /> � Escrow ltems or otherwlse in axardance with appGcable law. _
<br /> . The Funds shaU be hetd in an institutton whose deposits are insured by a federal aSen�Y•i�e Futnds�to ay►themEsaoN►
<br /> ,;` . .• J<. Lender, il Lender is such an institution) or tn arry Federal Home toan Bank Lende►shafl ePP�0��`v 8�un� or verifying ' --- --
<br /> s: ,: , Kems, Lender may not eharge 8orrower for hotding and apprying the Funds.annuallyr analyan9 _,,r `
<br /> � , `�=� the Esaow Items, unless Lender pays Borrower interest ort the Funds and applicable !aw Permits Le�der t° �e service
<br /> � '•' eharga However. Lendec may cequire 8ortower to pay a one-time charge tor an independent reat estate tex reportlng � ,r-,.
<br /> � ' • used by Lender in connechon with thts loan, untesa appficabie faw provides otheK+ise- Un�ess an a9reem�tt is made ot �,�'r�r;:..
<br /> • applicable law requires interest to be paid, Lender shail not be required to pay Borrower atry interest ar eamings on the Funds.
<br /> �� � ' ` BoROwer snd Lendet may agree in writtng. however.that irtterest sha0 be paid an the Funds_ Lender shail give to Borrower. . = �._,_
<br /> . •'i.�• � wfthout charge.en annua!accourdin�ot the Funds. showing credns end debits to the Funds and the purpose tor whtch each �-f- --
<br /> - debit to the Funds was made. The Funds are pledged as additlonal security for all sums secured by the Securiry Insdument .��r-.-
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<br /> .f---� - 11 the Funds held by Lender exceed the amounts pertnRted to be hetd by appRcebte taw.t�nder sfiaa aceaunt to Borrower �.�-=---- --
<br /> ` ' for the exeess Funds(n,accordanee wRh the requirements ot appticable law.If the emount o1 the Funds hetd by Lender at any �.,�`_`_:
<br /> time is not sufficiertt to pay the Escrow Items wheo due. Lender may so noti(y 8ortower in writirtg,an4 In such case Boerower t,�;,_
<br /> • . shali pay to Lender the amount neeessary to make up the defidency. Borrower shall make up ths deficfency in no more ffian x�—
<br /> twelve monthry payments,at Lender's sote dfscreUon. °�_ _
<br /> _ . � � . _ Upan payment in tull of all sums sec�red by thfs Securiry InstcumeRt. Lender shaii prompt[y refund to Bortower any Funds �,_ y�,�
<br /> � , held by Lender. if,under paragreph 21, Lender shail acquire or seU the Properly. Lender, pdor to the acqutsition or sale ot Ute - -- _
<br /> . �� � . Property,ahall apply enY Funds held by Lender af the time of acquisition or sate as a credd against the sums secured by this - - -
<br /> . _L � Security InsWment errts rece[ved by Lend� under ---� ,-
<br /> 3. Application Of P3yt11811ts. Unless applicable law provides otherwise. all paYm
<br /> _—_-__--—__— patagraphs 1 and 2 shaD be appTied first,to any p�epayment charges due und�the Not�second to amounts payabie under �T--
<br /> ': ,�,.' � � paragaph 2:third,to hiterest due:fouRh,W prinGpal due;and ia+sf,tu a�sy tata charSes due under tne Note. -�_
<br /> ,,..:�:��'� 4. Ch8fg9s; Uen9. Bor[ower shali pay all taxes, asse�ments. charges. ifnes end ImPesiUons athibutable to the _� -
<br /> � • � ���.% � '� PropeRy which may attaU�pdoriry over this Security InsUument, and teasehoid paymeots or�ound rents,fl eny. BoROwer shall . �:� .
<br /> � �`��"T :;. pay these obligations tn the manner provided in paragrePb 2. or H not paid h► that manner. Bortower shaU pay them on Ume �.�.. : _ �
<br /> � � • � !!.;' � directly to the person owed payment Borrower sha�promplN tumisn to Lender aU noticffs of amounts to 6e paid under this ; —
<br /> ;.�<<� '�- �:-. - � - paragraph. If 8orrower makes these payments diredly. Borrawer shall promptty tumish to Lender receipts evldencing the _ �{• .�._�-
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<br /> _,�;� � ;,; ": payments. Instrument untess Borrower. (a)acgees in :. A"'-�-`-
<br /> ;., ; gorrovrer shall prompty discharge any lien which has pdoriry over th[s Security y z ^
<br /> ';:�, �.` writfig to the payment of the obligation secured by the Ifen in a manner aceeptable to Lender. (b) contests tn good ia(th the ;�_
<br /> Qen by. or defends against en forcemen t o 1 t h e f i e n I n. t e g a l procee�n gs whtch in the Lender's opinion operate to prevent the _
<br />-''<��•: � enforcement oi the flen; or(c) secures irom the hotder o1 the lien an 89feis subject to a Ifentwh ch may a�ttaln p orlty ove�this -
<br /> .�, . : . . . r•.� �. .. .
<br /> � � this Security�nstrument If Lender determines that any part of the Property -°=- __
<br />- •"I" . �• � `�•c` • Security IasIIumen�Lender may glve Borrower a noUce identitying the Ilen.Bortower shall saUsty the lien or take one or mare ot :�..y:. _ �_
<br /> _ � ,,:...'. �:, the actlons set torth above wfthin 10 days ot the giving of notice. ; .
<br /> • 5. liatard or Property insura�ce.Borrower shatl keep the improvementa navi exisdng or hereafter erected on the '�'�'
<br /> '' propeAy insured against toss tsy fira, hezerds inGuded within the term 'extended coverage° zr.d any other harards,inctuding .i1 _.�_
<br /> �� ,^"'• " 400d8 0►i100d'111g,for which Lender requires insurance. This tnsu�ance shall be mairrtained in C�e amounts and for the pedods =
<br /> ' � that Lender requires. The insurance carrler providtng the(nsurance shall be ehosen by Borrower subjecl to Lende�s apyroval . � .
<br /> � � • whicb shall not be unreasonabty wtthhHd. H Bonower tails to maintain coverage desa(bed above, Lender may, at Lender's :, , .
<br /> .:.�. ' �� option,obtein coverage to protec►Lender's dghts in the Property in acwrdanee wttb P�9►�Ph�• . ti
<br /> ;.,. AII insurance pollcies and renewats shail be acceptabte to Lender and ahall include a standarde t Lender al ecepts of � � �
<br /> � � shaD have the tigM to hold the poiicies end renewals. It Lender requires.Borrower shail aa^�:ly giv , .
<br /> paid premiums and renewal notices. In the evertt of loss.Borrowet shall give prompt noUee�^.tie insurance certfer and Lender. ., .• .
<br />' } t!� Lender may make proof o1 loss H not made promptiy by Bortower.
<br /> Unless Lertder and Bortower atherwise acge= in w�idn9, insurance proceeQs shall be applled to restoration or repair o1 the
<br /> � • Property damaged.H the restoretion or repair is eeonomically feasible and LendePs security Is not fessened. If the restoraUon or
<br /> � � repair is not economically feasibte or Lender's security woutd be lessened,the Insurance proeeeds shall be applied to the sums
<br /> • � , secured by this Securriy (nstrum�.t. whether or not then due, witb any excess pald to Sc.rrcwer. H Borrower abandons the ,4
<br /> Property. or does not answer w"hin 30 doys a notice trom Lendet that the insurance ca.Ter fas oHered to settte a claim,then , ..
<br /> � Lender may collect the insurance proceeds. Lender may use the proceeds ta repalr or restore the Piroperty or to pay suma •
<br /> • • ' �• secured by this Security Instrument,whether or not then due. The 30�day pefa3 will begin when ihe noUce is given.
<br /> • Unless Lender and Bortower othervvise agree In writing, any applica�a-+ ot proceeds to pdnapal shall not extend or
<br /> ' postpone the due date of the monthly payments referred to in paragrephs 1 and 2 or change tha amount oi the payments. H
<br /> , • under paragraph 21 the Property is acquired by Lende�. Borrower's rlght to any insurance Ralicies and proceeds resulUng irom
<br /> damage to the Property prlor to the acqulsiqon shall pass to Lender to the extent o1"e sums by this Security Instrument
<br /> immediateiy p8or to the acquisition.
<br /> • 6. Occupancy, Presen►ation, Maentenance and Protection of the PropeRy; 8orrower's Loan
<br /> � , � Applicatlon; l.@BSehOlds. Bortower shall accupy. establish. and use the Property as Bortower's principal residence within
<br /> . . � sixty days after the execution ol this Security Instrument and shail conUnue to occupy the PropeAy as Barrower's principal
<br /> residence ior at teast one year after the dato 01 occupancy. untess Lender otherwise agrees in writing, whlch consent shail not
<br /> � " be unreasonabiy withhetd.or unless extenuating circumstances exist which are beyond Bonower s controt. $orrower shalf not ,
<br /> � � � � � destroy. damage or impair the Property,allow the Properly to deteriorate, or commit waste on the PropeRy. 8ortower shall be in
<br />_ � � . nelodeaure�ottt e'Pr perty or�othervdse matedalty impair therllen created by9his Securityln trume t�ortLende s�securityruint rerestl�
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