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<br /> � f . � y TOGETHER WITH afi ihe improvements now or hereafter erected on the ` : . . ti
<br /> ��,; : `,�� :y�.{ property, artd aii easements, rights, appurtenances, rents. and fixtures hereafter a • . , -'
<br /> � � � part of the property. Aq replacements and additions shall also be coversd by this �4 .:� ��� . � ��
<br /> � ��� ": `'�'��� S�ecurity Instrument. All of the foregoing is ref�rred to in this Security tnstrument as - ,���`� •
<br /> , .. .:,,
<br /> ' °�� the"Property°. <�. �
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<br /> . � c, � . Barrowers COVENANT tiiat Borrowers are tawfuiiy se'ssed of the reat estate �- � -
<br /> ; ..,.; . .
<br /> < ' - � hereby conveyed and have the right to grant and convey the Property and that the � "�� -�'�
<br />.'�' . Property is unencumbered, except for encumbrances of record. Borrowers warrant °- r
<br /> .. ':..;t. �,..1. ,,
<br /> ;t � -- and will defend generalty the titie to the Property against all ctaims and demartds, � - ,..,�� ;
<br /> .. .. �' �� subject to any encumbrances of record. . .`� •
<br />_ . , .
<br /> �
<br /> . { . . COVENANTS. Borrowers and Lender cov�nant and agree as fotlows: .' `� ��:���,'
<br /> :�
<br /> .' ,. . � � 1. Payment of Principal and Interest; Prepayment and Late Charges. ' `� :,� �":��,��=
<br /> : � , � Borrowers shall proanptly pay when due the principal of the debt evidenced by tiTe ,
<br />� : " Note and any prepayment and late charges due under the Note. . -
<br /> . , -�-:
<br /> � -�����`:�`��-��� 2. Funds for Taxes and Insurartce. All real estate taxes and insurance shalt �� �� - ----
<br /> ,< --,-.:_;.: ,�.:�,, , -
<br /> � • be paid by Borrowers when due. � _ _
<br /> . : . . ��,
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<br /> . .- :�r � t`_,�� .�
<br /> , 3. Charges; Liens. Borrowers shail pay all taxes, assessments, charges, •` � ,;_�-_��
<br /> ��� � r� tines, and impositions attributabte to tFee Property which may attain priority over this �����.�� .,• �
<br /> • �_. Securety ln5trument, and leasehold payments or graund rents, if any. �orrovirers shali - � - __
<br /> • . . ;; �_�. �. -__
<br /> '��� :' • ' f; pay these obl[gations in the manner provided in paragraph 2, or if not paid in that _--
<br /> 4'''�:'4 r• � �: manner, Borrowers shap pay them on time directty to the person owed payment. � -
<br /> . ��-- - - —
<br /> ��` �'� Borrowers shall promptiy tumish to Lender aii notices of amounts to be paid under •� �----
<br /> � �. � .�`��� this paragraph. If Borrowers malce these payments directly, Borrowers shall promptly � � . �.':`,75"�i---
<br /> furnish to Lender receipts evidencing the payments. . . '��'��
<br /> ,.. _
<br />� �� � .. Borrowers shall promptly discharge any lien which has pr�ority over this �; ;.� �'. ..•. :�t�.?=-
<br /> � . Security Instrument (exciuding any first deed of trust) unless Borrowers: ia) agree in � "" :' "?�'��-
<br /> � � � : writing to the payment ot the obligation secured by the lien in a manner acceptable ��. ""�"_
<br /> �<.:� � ' . to Lender; (b} contest in good faith the lien by, or defend against enforcement of the . � .
<br /> . � . lien in, legai proceedings which in the Lender's opinion operate to prevent the , -__
<br /> . . � enforcement of the lien or fo�feiture of any part of the Praperty; or (c) secure from ��!�����• ��"
<br /> _ ' ' �. � the hoidar of the lien an agreement satlsfactory to Lender subordinating the lien to �� � � ��'_�
<br />� �� � � this Security tnstrument. If Lender determtnes that an �' "�'- -;=�
<br /> . y part of the Property is subject
<br /> � � to a lien which may attain priority over this Security Instrument, Lender may give . � . _--
<br /> . . � Borrowers a notice identifying the Ilen. Borrowe�s shall satisfy the lien or take one �� . � � .
<br /> ' . or mate of the acttons set forth above within ten (10) days of the giving of notice. � _
<br /> ' � � 4. Hazard Insurance. Borrowers shall keep the improvements now existing • .
<br /> ,
<br /> •- ; y � or hereafter erected on the Property insured against loss by fire, hazards included . ,.
<br /> � �. . • within the term "extended coverage" ar►d any other hazards for which tender requires � ��� �
<br /> ' insurance. This insurance shall be ma�ntained in the amaunts and for the periods that �• �. . �
<br /> . , � Lender requtres. The insurance carrler providing the inaurance shall be chosen by , �. � ,� �
<br /> - Borrawers subject to Lender's approval which shall not be unreasonably withheld. . ' �� .
<br /> ' � : � ..
<br /> �: � � Ali insurance policies and renswals sha8 be acceptable to Lender and siiall � - . : .' ;.
<br />`'� �'� include a standard mortgage clause. Lender shall have th$right to hoid the policies . _ , .
<br /> and renewais. If Lender requires, Borrowers shall promptly give to Lender all receipts . � . � �
<br /> � . of paid premiums and renewal notices. In the event of loss� Borrowers shall give � �•. � .
<br />_. . . prompt notice to the insurance carrier and Lender. Lender may make proof of loss � �
<br /> , it not made promptiy by Borrowers. � � .
<br /> � .. , � � Unless Lender and Borrowers otherwise agree in writing, insurance proceeds
<br /> �.�� shail be applied to restoration or repair of the Property damaged, if the restaration or � '
<br /> �,__� . � . �
<br /> - .� � � � :
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