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<br /> � � TOGETFiEN WITH all the improvements now or hereafter erected on 4he property, and aii easements. appurtenances, end `"�:``�~_=�T�
<br />. fixtures now or hereafter a part of the property.ASI replat�ments and additions shaSt also be cove:ed by this Securiry InsVUment . `� �r ,��
<br /> , • NI of the toregoing is refeaed to in this Seeurtty Instrument as the 'Property.' (� '' ��_
<br /> BORROWER C011E�WNTS that Bonoever is law(ulty seized ot the estate herehy conveyed and has the right to grant and y �=�
<br />` convey the PropeRy and that the Properry is unencumbere�. except tor encumbrances of recatd. Bortower warrants and wdi � . � ,°, �_-
<br /> defesd geneta6y the ti:le to Ue PropeRy against ai1 daims and demands. subject to eny encumbrances of record -; • � ���-
<br /> THIS SECURITY INSTRUMEIYT combirtes unitortn eo�enants for national use and rton-undartn covenants with timded � .. ;•j,
<br /> _ ', variatlnns by jurisdicUon to constitute a unitorm security instrument covering real property. � � -.-
<br /> UN�F�RM COVENANTS. Bortower and Lender covenant and agree as fodov+s: F `. , •-
<br />� � t.Paymfln4 of Principai and lnteresfi Prepaymen4 and I.ate Charges.Bono�+er shail prompt(y pay m0en ; �
<br /> , d ue t ha p ri n a p a i o f a n d m t e r e s t o n t h e d e b t e�:i d e n c e d b y t h e N o t e a n d a n y p re p a y ment artd late char ges due under the Note � � _ `��' ` �.�`�
<br /> 2 Funds far Taxes and Insurance.Subjact to spplitable Iaw or to a written warver by Lender. 8arrower shall pay � � � . .
<br /> � tc Lender on the day monthty payments are due und2r the Note, until the Note is paid in fuil. a sum ('Funds')for. (a)yearly � . - _
<br /> � taxes and assessments which may attain priordy over this Security Instrument as a Gen on the Property: (b) yearty �easehoid • , � - , _
<br /> _ � payments or qround rents on the Property. rf any. (c) yearty Aa�td or property msurance premiums. t�} yex�l�od ir�surance _'-"�-�s;.-�- - ,.:: .- ` _
<br />, ��� i premivms.if any: (e) yearty mortgage insurance premiums.iT ciny: and (�any sums payabte by Borrower to Lender�� acqrdance ' � . '� '.;._
<br /> w?h ;�e provisions ot paragraph 8. in lieu of the payment of moRgage insurance premiums. Tl�ese items are caited 'Escxaw -�`"�f�^=`==�'-�--,
<br /> ?'�r.^.s.' Lender may, at any time. collect and hotd Funds in an arnount not to exceed lhe maximum amount a lender tor a „ :_ =���'�:�
<br /> , � federalty related mortgage lann may require tot Bormwer s esaow aceount under the teEeral Real Esta:e Settlement Procedures � • � -
<br /> Act ot 1974 ris amended from time to time. 12 ll.3.C.�2601 et seq. ('RESPA'). unless another law that aypties to the Funds u=�` '".�'�- ' '
<br /> .[ .M1a�PSei�Yy�La_�-__-_.
<br /> ' sets a lesser amount ii so. Lender may, et any trme. cotIect and hotd Funds in an amount not to exceed tDe lesser aanount „ _;,n'_��+'����r-°
<br /> Lender may esitmate the amau►R ot Funds due on the basis ot curtent data and reasonabie estimates oi expen��res ot tuture �
<br /> Escrow Items or otherw!se in aaaar[tunce with appficahle lav�. �-�'.
<br /> The Funds shall be held in un insGrtutlon whose deposits are insured by a tedeiai agency,inswmentality. ar entity(including ' -'"�°`�"`'''`'"-'�
<br /> .•_..--..�
<br /> . - Lender,if Lertde►is sucii an institution) or in any Federal Home Loan Bank. Lender shail apply the Funds to pay the Escrow �` ;%�--;:
<br /> Items_ Lender may not charge Bortovrer for holding and apptying the Funds.annualiy analyang the escrow account. or Yeritying •�"�r�;,' �:_-
<br /> '��, the Esaow items. uNess lender pays BoROwer interest on the Funds and applicabte law permits Lender to make such a .•.:,�, .- ----���.�:-
<br />' charge. Hawever. Lender may require Bartower to pay a onetime chatge for an independent real estate tax repoRing senrice
<br /> �� •.•.sed by Lender in conngctian with this toan, untess appGcabte Iaw prsvides othervrise. Unless an agreement is made or '�"�' ____
<br /> (. { �.t.lieable law requires intere=t t�be paid Lender shali rtot be required ts pay Borrower any interest or eamings an the Funds. � u
<br /> ��`� �crrower and Lender may amee 6� writing. however, thst ir.terest shall be paid on the Funds. Lender shaU give to 8orrower, •`�};,'��� •+
<br /> _-c `y "` . '-
<br /> S 7, without cttisrge. an annual accrsnting af th�Fvnds. :.l:�:»y we...� �:3 �'^y...."^ •�LRe F.»�tds �cred tt•e get,,••sn+n.Y,ti��. ��!, _
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<br /> •� debit to the Funds was rr�ade. The Funds r�pledged as addRional securi'�`nr all sums secured 6y the Securiry InsUument. 1..=�.'�iah
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<br /> If the Furtds hetd by Lender exceed the amounts pertnitted to be h�,;.�y applira6le law. Lendsr s`�41 account ta Borrovre� , ��..d,`::-_
<br /> �' � tor the exce�s Funds in accordance with the requirements of applicable�ar.. If the amasrt of the Furds he4d by Lender at any - -=--_
<br /> � time is not suffident to pay the Escxow Items wfien due. Lender may so rtotify Boacwer in writing,and �n such case Borrower �t+- � - � � '•
<br />: �,� , shail pay to Lende�ffie amount necess�ry to make up the defiaency. Borrower sliadt mx?�x up the defidency in na more than _
<br /> twelve monthl��ayments,at Lender's sole discretion. � ���•;
<br /> Upon payc^rsent in tull of ail sums secured by this Secvriry Instrume+�t. l�der shall prompUy refund to Bortower any Funds '�
<br /> •�%�,i: hetd by Lender. If, under paragraph 21. Lender shall acquire or seii the Fc:r,�riy, lender, prior to the acquisition ar saie of the ,,.��;y�"`,��,,,
<br /> �``� Propetty.shall apply any Funds held by Lendet at the time of acquisition or sale as a sizdit against the sams sso:�r..+try this ��, '- '~
<br /> ..; Security Instrume�t. •.•., `.:'�
<br /> •� 3. Applicedlon of Paymeflt5. uniess app►.ca�ta�aw provides otherwise. a:t payments receivR� by LeTdar a*�der ,�'.'�`
<br /> ' ,,;,� paragraphs 1 and 2 shatl be applied: first.to any prepa;m�t charges due under the hote:second m amos:nts Ray�e�ander ,
<br /> :� �' -
<br /> •: 'sr, paragraph 2:third,to(nterest due;tourth,to pfincipal due: and last,to 2s►y late charges due under tRQ Mte. . ' ��,'�'� �°•
<br /> 4. Charges; L3ens. �ormwer shall pay aii ta;ces. assessrrt�Es, charges. fines and (mpositfons attributa�z to the �'� ,'<;��`
<br /> m - _Ei';f,�:�-
<br /> ' .- Property which may attain pri:�rtty aver ihis Securily Insdumerd, and lec;�hotd payments or ground rents.if any. Borrovrer shali #1?;_'
<br /> , pay Mese obOgattons (n the munnar provided tn paragraph 2. or if nnt pa!d in that manner. 8orrower shall pay them on Ume ;" � '' ' �-
<br /> ^ ri�c.
<br /> . directiy to 4he person owed payment. Bortower shall promptly tumtsh to Lender all notEces of amounts to be paid under tAis • ., y. '
<br /> paragraph. I! Borrower makes these payments directty. Barrower shel prompUy tumish to Lender receipts evidencing the ��'�����,�� ,-
<br /> .�°=':�'.. .
<br /> PaYments. ..--
<br /> Bortower shall promptly d�scharge any fien wlnch has pdority over th[s Security Instrument unless Borrower. (a)agrees in �:i-_
<br /> wrfting to the payment of the obiigation secured by the Uen in a manner acceptable to Lender, @) contests fi good faith the ;5.�'
<br /> ' ' lien by, or detends aga[tist enforcement of the lien in, Iegal proceedings which in tfie Lende►'s opinion operate to prevent the �=___. .._�_
<br /> � enforcement ot the�ien: or(c)secures from the holder c;t4r>fien an agreement saUsfactory to Lender subordfiaUng the lien to ��;- ��r, '.-:':_.--
<br /> . thts Securfty Instrument It Lender detertnines that any p2r^``Cae Properry is subject to a lien which may attain pdority over this ��',_.' . ,,
<br /> �:_..
<br /> ���'� , Security tnstrament, Lender may give Boaower a noUce iCr��:tying the 11er. Borrower shatl satlsty the iien or take one or mare of t�,_=--::'=�
<br /> � the actlons s2:tnrth above within 10 days o!*,he givfig of notice. �� � ,`„
<br /> • 5.Haz�df or Piroperty Itesur�s��e.Borrower shall keep�*a �provements naw existinr�cr tereafter erected on the ,. � :__
<br /> '� `�.� Pro ins��rlu a alnst.ew b fire, har��s inGuded wtthin the te�^: °extended cov�2•3e' and a. other hamrds, inWuQn �E�^�'�'�" _-
<br /> P�Y � Y `�`� 9 �' �:��:�:'=_�i
<br /> Ooods or ftood�:�.for wh[<;I.eider requires insurance. This insurance shall be malr�i-ad In the amounts end for the pedods .�_����+
<br /> � �`�' that Lender re�i.�es. Tt:e:rs�rrence carder providing ihe insurance shall be chosen by 8orrower subJect to Lender's approval ,+�"`�;�,>`'';�'� :�_
<br /> which shall r.�,�a unreasc��.y withhetd. If Bortower fafls to mafnta:n coverage described above. Lender may. at Lenders r-' _ ,
<br /> � � option,obtain cave►age to protect Lenders�Ights In lhe Property in accordance with paragraph 7. -�*:•-
<br /> All insurance pollcies and renewals shall be acceptabte to Lender and shall indude a standard moRgage clause. Lender • '
<br /> shall have the dght to hold�° pollcies ar.d renewals. lf Cender requires. 8orrower shell promptly glve to Lender ail recelpts oi "'�""""''-'
<br /> ' .: .r _..,..
<br /> �id premiums and renewal noUces. In the event of lo:,s. Bcrtower shall give prompt notice to the insurance cartier a�a Lender.
<br /> , Lender may make proof o1 loss H not made promptty by BonoHer. ` . `.~' ' ' ��'�
<br /> � ."a.
<br /> Unless Lsnder and Bortower otherwisa agree in wri�ng,insurance proceeds shall 6e applied to restoraUon or ���.r o1 the """`��''
<br /> �` Properly da�nAflsd. if the restoraUon or rE,alr ls economicalty feasible and Lender s security is not lessated. If U9e tis'oraUon or -_
<br /> � .q repair is nct vaonomicalty fQasible ar Len�crr's secudty would be tessened, the Insurance proceads sho.t he applied to the sums � �"
<br /> �.�.•.;�[;.
<br /> ., ' sewred by ths 9ecudty Instrument. whether or not then due, wfth any excess paid to 8ortower. ii Bcrrovrer ah�rdons the ����
<br /> Properry, or Qoes not an�rczt within 30 days a noUce from Lender that the insurance cartler has oitered to settle a ci�im,tAen '��`-`�'"�" ,�
<br /> , Lertder may cottect the irsvrence proceeds. Lender may use the proceeds to repair or restore the Properry or to Fay sums ='��"'�-."��°=
<br /> secured by this Securiy la3trument whether or not then due. The 30�day pedod will CeSin when the roL'ce is given. ° '���'���!;
<br /> � Unl� Lender ond Bortower othenaiso ttgree in w►1Ung, any appftc�ttlon ot proceeds to pdndpeJ shall not extend or �F�'��'�"�.
<br /> postpar.o+'�c� Uua dute of the month(y payments reterted to(n paragrapbs 1 and 2 or change the amcunt o}the payments. I1 '''a,'��"�M`�!+?�'��.
<br /> under pn.��uph 21 ihe Property is acqr�ired by Lender. 8orrower's dght to any inaurance policies and proceeds resuftc�g from • ..,.:�;�...��;�_...
<br />' _ damage to the Praperty pdw to the acquisition sha(I pass lo Lender to the extent of the sums by this Secsrity tn.7ument ' ',.. .: .. :.. _
<br /> � immediatery prior to the a�ay!sitton. . ';°'"`�;'�°`_ �- -�•
<br /> . 6. Qccupancy. PceservaUon. Maintenance e�d Protection of the Property; Bonower's Loan � , — �'a
<br /> . AppUeation: Lee30hOld9. Borrower shall occupy. establish.and use the Property as Bonower's pdncipal residence wAhin . . -
<br />� sixty days after the execution ot this Secunry Inshument end shall continue to occupy the Property as Borrower s principal , � -
<br /> �' residence for at Ieast one year after the date ot occupancy.untess Lender otherwise agrees in writing. which cansent shall not '
<br />' be unreasonabiy withheld. or unless extenuating circumstantes exist which are beyond Bortower's control. Bortower shall not . �
<br /> destroy,damage or impair the Property,aliow the Property to detertorate, or commA waste on the Properry. Borrower shali 6e m • : _ _ •
<br /> ' . detautt A any lorfeiture action or proceeding, whether civil or criminat, is begun that in Lender's good taith judgment could resutt , - �-
<br /> , in forfeiture o1 the Property or otheewise materialty impair ihe fien aeated by this Security I�sirumenl or Lender's security interest.
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