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<br /> - `. � . • TOCaETHER W(TH aU the (mprovemerrts now or heeafter erected on the praperty, and ait easemarts. eppuRenances. and ` ``„ 4� .
<br />� ' ftxhttes now or h2reaRer a paR oi ffie properly.AO reptat�naRs snd add�ions shalt atsa be eovered by this Security Inshument. � • �
<br /> - . � AO ot tAe forego(ng is teterted to!n this Sgcurity Instrum�rt as the 'Pmpety.' � . '` `.
<br />-_- :r--a--- BOAROWER COYENANTS tha! Borrowv is fawfuUy setzed a! the eslate hereby com+eyed end has the dgM to grant and ,`� ��-�-,y-� ,,--
<br /> ,-1 .. camrey the Properry and that the Propeny is unenwmbered. except for enwmbrances ot record Bortower warrants and w�71 � -. .. '"-- --
<br /> _' . . tfeTend gen�aQy th@ ttt10 to th0 ProP@rty BgaNst ell ctaim3 and demands.subject t0 arry encumbrances Of reeord. � 4�:�, <<_ ,'..
<br /> :�'� • : . THIS SECURIiY INSTRUMEM' comhfies unitorm cwenarts tor naUona{ use and nomunitortn covenants with Om(ted a ` . , ,
<br /> � • varisiions by jurlad'ietlon to cansUUrte e unitortn securfty instrument covering real property.
<br /> . • UNIFORM COVENAMS. Borrower and Lend�covenant and acyee as foUaws: . - ,
<br /> ' 1. Paymertt of PrUcips! Snt! IntereS'� Prepsymet94 and L2te Ch2tges.eorrower shall promPtry Pay when �
<br /> r: ;� ` . . due the prtnelpai of and Ufterest on tt�e drbt ev(da.nced Dy the Note and anyr Prepayment and!ffie eAarges due under the Rote. � . .. . ,�
<br /> ' '-' • - 2. �attds for T�xes anfs [tlstts8tlCe.SubJeet to appUcabte(aw or to a xrtitten wahrer by lenaer, eoaawer shail pay `� _
<br /> :�. , , �°--�:+ to Lender on the day monthly payments are due under the Not� u�1 the Note is paid In tuU,e sum�'Funds') for. (a)yearty � � ` ' � ' `5'. ";
<br />. `="� taxes and assessments whteh may attain pdorfly over thts 3eatrit�l Instrtsm�t as a lien on the PropeAy: (b)yeariy leaseho(d � '
<br /> �'f�: ° paymenfs or ground rents on the Property,it eny; (e)yearly h�rd or property insuranee premiums: (�yearty ftood insurance � ,
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<br /> '��;- -�: ` premtums,it anY• (e)YeartY mortgage Insurance prertdums.M ar►y,and i4�Y sums payabte by Borrower to Lender In aa;ordartee -- -' � ---
<br /> _ . <
<br /> . wftt�the provislons af paragrapb 8. tn fieu of the paymerK of mortgage (nsurance premiums. These items ara caQed 'Escrow • - '-
<br /> . , tiems.' Lender may,at any time, coUect end hoid Ponds in an amount not to exceed the maxtmum amount a tertder tor e �� � �:- �."
<br /> " � tedera6y related mortgage loan may require tor Bortower's estxqw account under the fed�al Real Estate Settlement Rrocedures '- .
<br /> � - Aet of 1974 es emended from Ume to Um�12 U.S.C.�26D1 ei seq.('RESPA7, untess another law that applies to the Funds ' � •" -`� G
<br />- � . : sets a Iesser amount If so. Lender may, at any ttm� coQect and hold Funds in an emourtt not ta exceed the lesser amouat � ��`~
<br /> Lender may estimate the acrtount o1 Funds due on the hasls of current data and reasonabie estimates ot expenditures of future _:.-.:
<br />,�x;. � ` Escrow(tems or othe�wlse in accordance with appfirabie law. . . --.--
<br />_ • _ The Fimds ahaQ be held tn en Inst�fan whose deposits are msured by a federal ag�ey,instrnm�firy,or enb'ty{metudutg • • x^_ __
<br /> • �`.t Lender. i}Lende►is such en tnsGhitlon) or in arry Federa!Home Loan Bank Lender shaA apPN the Funds.to pay tf:e Eserow c,�` �`r.;�.•-,�-,
<br />- - . ;:•� tiems. lender may not charge Bortawer for hatding and spplyfng the Funds,annually enalyzing the esaow accouM,ot veriSying . ; -_ -
<br /> � the Estxow (tems, �mias Lend� pays Barrower inte�est on ihe Funds and appl'�cahte Iaw perm�s Letder to make such e '
<br /> " �• charg� Hawaver, Lender may requhe Borrower to pay a one�l6tte change for an Ind�endent reat esfate fax reporting servlce _
<br />- , � , used by Lender in connedlon wIlh thts toan, unless appQmble Iaw pmvides othenx[se. Unless an agreEmerrt is mada or
<br /> - , • applicabte law requUes tnierest to be patd Lender shaU not be requfred to pay Borrower arry 6rterest or e�mtngs on the Funds. - ----
<br /> • Borrower end Lende►may agee in nfiUrtg, however,that Grterest shail be pald on the Femds.Lender shall ghre to Borrow�, � ,�•• -
<br /> - • -+:'. w3thaut charge,an annual accourttfng of the Furtds,showing cred'rts and debitss to the Funds and the purpase tor which each :�. � _
<br /> • "``• debft to the Funds was made The Funds are pledged as additlorta!secvriry for ell sums sec�red by the 3e�auhy inswmen. '�.''. . .-
<br /> � . . If the Funds heid by Lender exceed the amourrts permitted to 6e hdd by applicable favr,Lender shall accouni to Borrower
<br /> • • tor the excess Funds tn axardance with the requirements of appliceble taw_8 the amourrt of the Funds hetd 6y Lend�a!erry �
<br />� • � tlme is not sufficiertt to pay the Escrow ftems when due.Lender raay so natity Barrower in writlng, and,tn such case Bortower —
<br />_' . ,�,'.� shall pay to Lender the amount necessary to make up the deftdenoy. Borrower shall make up the defldency in no more than - 'r `
<br />•�' , twetve monthry Payma�ts.at Lenders sote cflsaeNon. - ----
<br /> -- ` Upon paymwrt in fitti of all sums secured by this Securily Instrum�t,Lssder sfia0 pmmptiyy rei�md to Borrower arry Funds - .-.----
<br /> . . ' held by Lender. If. unde►parayaph 21. Lender shall acquire or sell the Property, Lender,pdor to the acquis�lon or sala of the , :�;�'� ._
<br /> � � - �A�7/• ehe�aADh/enY Funds held by Lender at the Ume o!acquisition or sate as a credh against the sums secured by this . , ----
<br /> , . : ' SecurRy Instrument. . -
<br /> • . 3. Appliea4ton of Payments. Unless app(icable (aw provides othervvtse, sU payments recetved by Len��under .
<br /> ;.�;� �. � � patagtaphs 1 and 2 shall be applied: ftrst,to any prepayment charges due urtder the Note;second,to amou►rts payabie unQer _
<br /> . • � paragreph�thhd.to interest du�tourth.to principal du�and IasK.to any late cfiarges due under the Note. � '��^.�a';.'
<br /> , � 4. ChaPg�.S; U0n3. Borrower shall pay all taxes, assessments, charges, ftnes and impasi�ons attributable to the ,• �
<br /> - �-- .- - _.-_._ Properly which may aGain prlorRy aver this Security Inshument,and leasehoid paymenta or ground rents,it asry. Bortower sh80 - "-�'T�
<br /> .� pay these ohligaUons in tha manner provided Irt paragrapb 2,or it not paid in that manner, Borrower shaU pay them on Ume �� H
<br /> f{i ": : � - � duectiy to the person owed payment Borrower ahall prompty fumish to Lender all noUces of amounts to be paid under this �, :�°�•
<br />.. � . ' , ; Paragraph. I} BoROwer makes these payments directlyr. Borrawe:r shail prompHy fumfsh to Lender receipta evtderscing the -°- �,:_�,
<br /> � . payments. � .'�!..
<br /> � Borrower shaU rom disch e an �en which has do over this Secu Instrument unless Borrower. ..� ' ' � ��
<br />- P PtN aB Y D �Y �Y (e) �9��� �•-7?:�-
<br /> , rvriting to the payment of the obligaUon secured by the Iien in a manner acceptahte to Lender, (b) contesGs in good teith the
<br /> � `� . • ' lien by, or defends against entorcement of the Ilen in, Iegai procee�ings which in the Lender's opinion operete to preve.nt the � �� ��-�
<br /> � enforoement ot the Oen; or(a) secures from the hotder of the tlert an agreement satisiactory to Lender subord(nating the Ilen to • ' "_—
<br /> ' ' this Security tnsirument H Lender detertnfies that an ot the Piro Is sub ect to a Gen whtch . • �� :-"�=-f
<br /> �� Y p� I��Y 1 may attain pdority over ffiIs
<br /> 2,,. •: � Security tnstrumerd. Lender may give Bomower a noUce identifying the Ben.8orrower sha0 satlsfy the Iten or take one or more ot • . ;..��.
<br /> � ,� �:��� the ectlons set toRA above witbfi 10 days ot the ghdng o1 notice. . - --
<br /> " ' 1 5. H�2P$ or Property Insurance.Borrawer sha0 keep!he rtrprovements now exisUng ar hz:eafter erected on the ��
<br /> .' � � �' � Property insured against ioss by flre, hezards Incioded within the tertn 'extended coverage' and arry o:.`.�hazards. Including � �•�f`-
<br /> . .-� ftavds or flooding.tor whicb Lender requGes tosurance. Thts insurance ehali be maintained in the amou�ts and for the pedods . ----
<br /> . that Lender requires. Tha insurance cartte► providing the inslrartce shall be chosen by Bortower subject to Lender's approval . � -
<br /> , � wh�n shaU not be unreasonably wkhhetd. If Borrower�s to malnlaln coverage descrfbed above, lender may, et LendeYe �
<br /> . . � . opUon,obmin coverage to protect Lender's dghts in the ProreRy in accordance with paragrapb 7. , ,
<br /> All insurance polides end renewa�s shall be acceptable to Lender and shall Include a standard rt:oRgage clause. lender �•, ''`� .
<br /> ;� �� • sha0 have the dght to hoid the poDcles and renewats. H Lender requtres.Borrower ahaU promptty► give to Lender ali receipts ot � . .
<br /> � � paid premiums end renewal naUces. In the evertt of loss,Borrower aha0 gh�e pmmpt noUce to the insurance carrier and Lender. • ,
<br /> � Lender may make praof of loss H not made prompUy by Borrower. ". ;t-.��.:
<br />- �� . Untess Lender and BoROwer otherwise egree in wdUng, insurance proceeds shail be�plied to restoratlon or repalr of the � . ::�'�•_'��;
<br /> • Property damaged, it the restoration or�epair Is economicaly feasible and Lender's se�rity is not tessened. ii ihe restoraUon or � . , �
<br /> � • repalr Is aot economicaity feasibls or Lenders securriy would be Iessened.the insurance proceede shall be applied to the sums
<br /> ` secured by thls Securily Instrument, whether or not ihen due, with any excass pald to 8orrower. H Eonower ebandons the • ' �
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<br /> � Property, or does not answer wtthtn 30 days a notice irom lender thet the Insurance carrter ha9 aHered To settle a clatm,thc� • •
<br /> .. • Lender may coltect ihe insurance proceeds. Lender may use the proeeeds to repah or restore the Properiy or to pay sums ��.. � �
<br /> � � . secured by this 3ecudty Instrument,whether or not then due. The 36day perlod w01 begfn when the noUce is given. . '
<br /> � Uniess Lender and Borrower otherwise agree in writing, any applicaUon of proceeds to pdncipal shall not e�Rend or . •
<br />� postpone the due date of the monthty payments reterred to In paragraphs 1 and 2 or change ihe emount o1 the payments. It • .7�
<br /> - under peragraph 2f the P►operty Is aequlred by Lender, Bortower's dgM to any insu►anee polides end pixeeds�esnfting irom •-... .__ _ �:�=
<br /> � ' damage to the Property pdor to the acqulsiUOn shail pasa to lender to the extent of the svms by this Secudty Instiument ,
<br /> ' � immediatety pdor to the acqulsiUon. .
<br /> v 8. Occupancy, Paosenration. Maintenance and Pratection of the Property; Borrower's Loan
<br /> . �� AppUCBtIOn; E.AaSAhOfdS.Bortower shall aceupy, establish. and use the P►operty as Bortawer's pdncipal residence within �
<br />- �''. sixty days atter the executlon of this Secudly lastrument and shall conUnue to occupy the Propetty as Borto►ver's pdncipal � ��
<br /> � residence for at least orte year after the date of occupancy,unless Lertder otherwise agrees in writing.which canseM shal! no! : �.
<br /> be unreasonably withheld,or unless extenuaUng cireumstances ex)st which are beyond Bortower's control. Bonower shall not
<br /> destroy, damage or impalr the Properry. aliow the Property to detedarate, or commit waste on the Properly. Bortower shall be in �. �
<br /> ����•,. detault H any torteiture actlan or proa�eding, whether cNi!or aimirtal,Is begun that in Lender's good taith jadgment coutd resuR t '
<br /> in}orteiture o}the PropeRy or othervvise rretedal im air the lien created ` �
<br />�.,_ - • ty p by this Securiry Instrument or Lender's seeurity interest. ,
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