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<br /> � 70GETHHi WITli al! the improvemert4s now ot hereafter elected on the prope�ty. and all easements. appurtenances. and � .
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<br /> < � ! fiWures now or heresfter a ptut ot the property.AU repfacements at►d addidons shaD aiso be covered by this Seeurity Instrument .
<br /> � � . � � Aii ot the taregotng ts reterted to in thts Searity Instrument as the'Praperty.' ; , . .
<br /> ' . .- - r � BORROW�t COVBYANTS that 9orrowc�is tawtu�y seaed ot Ute estate hereDy conveyed and has the dght to grant and . ` ,
<br /> canvey the Prcptrty snd tha!the Properiy is uneicumbered. except for encumbrances ot record. Boaower warrants and wiU
<br /> , `. ' , j defend generaffy the hlla to the Froperry against aU daims and demands.subject to any eneumbrances of record. _ • .
<br /> � TFIIS SECURIN tNSTRUINE(dT wmbines aniform covenants for nattonal use and non-unNortn cavenants wtth limfted ,�,.
<br /> , _ � varia8ons 6y judsdiction to constdute a unitartn sear(ry instrument caveting reai proA�Y• G� �
<br /> � UNIFORM COVEfQAt�ff3. 8orrower end Lender eovenant and agree as tonows: ; . ' `
<br /> 1. PSymeM of Pri�tcip�l Snd lttte�es$ P�+epayment end LSte Eftarges.Borrower shaU prampuy Pay when �
<br /> `. � due the pri�dpal of and iMerest on the debt ev[denced by the Nofe and azry prepaymerii and iate eharges due under the Note. `��
<br /> 2. Funds for Taxes a�d ltosurettce.SubJect to appOcabte law cr to a wcitten waiver by Lender,BoROwer shaU pay �i►
<br /> • ;� { to Lends on the day monthly payments are due under the Note, orttil the Nota is patd tn fuD, a sum('Funds`) tor. (a)yearly P•
<br /> • � tazes end ass�ssmenis wfiich may attaln pdoKty over thls Sewrity InsWm�t as a lien on the Property: @) yeartyr teasehotQ �
<br /> -. payments or ground rents on the Property,if any, (c�yearly hazaM or properly insurance premiums: (� yearly ftood insurance � � .
<br /> _ _ ___ premiums.if any, (e)yearty mortgage insurance pr�niums,if eny,and(�any sums payabie by Borrower to Lender in accordance � _ � �
<br />--- -- - _ ,.� , with the provisions of paragrapb 8. in Geu ot the payment ot mortgage Insurance premiums. These items are called °Escrow � ------ _
<br /> . . Itertu.' Lender may, at any tlme, coUect end hold Funds in an amount not to exceed the maxhnum amount a Iender for a .
<br /> � tedera�y related mortgage toan may require tor Borrower's esaow accotmt under tt►e tederal R�I Estate SettlemEmt Prccedures . `-. .
<br /> . � Act of 1974 as am�ded from time to time,12 U.S.C.�2501 et seq. ('RE3PA'). untess anothe� law that appQes to the Funds _ l . .�. ...
<br /> sets a tesser amount. I}so. Lender may,at arry Um� coQect and hold Ponds in an amount rtot to exceed the lesser amourrt.
<br /> ' Lender may estimate the amount of Funds due on the 6asis ot current data and reasonabfe esttrtiates ot expendiWres of tuwre �, � � - �� " �
<br /> ' Escmw Rems or othenvise in accordance w�h apppcabte taw. � ,7� ' `
<br /> * ;, The Wnds shaU be held in&n inst�uiion whose depusfts are frlSUfed by e tederal egenCy.(nshutslentaftty.or entity(utduduig t x g>,�2�, �,
<br /> ��� Lender. N Lender is such en institutton) ar(n amr Federal Home Loan Benk Lender sba�apPtY the Funds to pay the Escrow s.:• a ��s;�it�.
<br /> �''r�i'.: ftems. Lender may not charge Borrower tor hatdmg and aPPh�9 the Funds.annuallyy enal�rdng the es�row accoun�or veri(ying . ` �-
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<br /> •�_ � the Escrow ltems, untess Lender pays Borrower interest on the Funds and applirabte law petmifs Lender to make such a
<br /> VI charge. ltawever. Lender may require Bortower to pay a on�time chazge tor an irtdependent reat estate tax reporlfig s�vice . ''"' `
<br /> , , used by Lender In connecdon with thfs loan. unless appGcable taw provides otheiwise. Untess an agreement is made or ,` ,.� �f��"�-
<br /> ' :� appticable taw requires interest to be paid lender shail not be required to pay Bomower any tnterest or eamings on the Funds. `'•.;�,rR_
<br /> 8orrawer and Lender may agee in writing, hawever, that interest shall bs paid on the Funds. Lender shalt give to Bortower. L "
<br /> . without eharge,an annuai accowrting of the Funds, shcwing aedrts and debits to the Funds and the puryose tor whtch each ;��`��:�;�r
<br /> � debit to the Funds was made. The Funds are ptedged as addNonal secur(ty for afl suma secured by the Security InsWment ,tu��
<br /> � - � (t the Funds heid by Lender exceed the amounts permitted to be hetd by appfcabte taw.Lender sfiail account W Bortower � �-.-
<br /> tar the excess Funds in accordance wfth the requiremertts of appflcable law. H the emount of the Funds hetd by Lender al any • • �-.;j
<br /> � time is not suffldent to pay the Escraw Items when due. Lender may so noUfy Borrower in writing,and.(n uuch case Barrower `,.�,�:�.�
<br /> ' shall pay to Lender the amaunt necessary ta make up the detidertcy. Bortower shall make up the deflctency in no more than . ��� �" --
<br /> ' tweWe monthty payments,at Lender's sote diseretlon. � �' '� ���'•�
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<br /> �� Upon payment i�tuU af aU sums aecured 6y thts Secur(ty tnstrument.Lender shali promptty refund to 8artower any funds ,; .�_�.;__
<br /> � � held by Lendec i},under paragrapfi 21. Lender shefl acquire or seli the Property.Lender, pdat to the acquisi�on or sate o!tha --•-� -•,`;°;�..��;:�,�
<br /> . ' PropeRy.sha11 eppy any Funds held by Lender at the Ume ot acqu(stdan ar sete as a aedit against the sums secured by this . -.v��
<br /> Seadty inshument. :r �'-:�"';:•.
<br /> 3. Application of Payments. Untesa eppGeabie Iaw prav(des othervvise, aU payments recetved by Lender under I � . '?�.+i�;s
<br /> paragrapha 1 end 2 shall be appiied: tirrst,to any prepayment charges due under the Note: second,to amounts payable under . _,�t;4�3,_'
<br /> ' � paragaph 2;ih6d,to Interest Que;fourth,to pdndpa!due:and fast,to any late charges due under the Note. � , --.r .-
<br /> 4. Ch8tg88; U8n9. 8orrower shad pay all taxea, assessments, cherges, fines end impositlons atdibutabie to the �}�;,�;;"i:.:
<br /> Property which may attain prloriry over this Securlry Instrumen�and leasehold payments or ground rents. H any. BoROwer shell '' '.,-s`f�.
<br /> , pay thesa ohftgaUons (n the manner provided in paragtaph 2. or H not paid in that manne►, Borrower ahall pay them on Ume :,,_�.
<br /> dtrectly to the person owed payment Bortower shali promptty tumish to Lender s0 notices oi amounts to be paid unde►this ,
<br /> . . � para�aph. It 9orrower malces these paymerrts dUeclly. BoROwer shall promptly tum(sh to Lender recelpts evidenc(ng the _ _ -: '��
<br /> � payments. . . ., ��;��;.
<br /> �.. � Borrower shall promptly disoharge any lien whieh has prior(ty over this Security Instrument untess Bonower. (a)agrees in • � '�'`•`
<br /> writing to the payment of the obflgation secured by the tlen in a manner acceptebte to Lender. (b) corrteste �^ �eod tafth the � .=t�"'-°
<br /> flen by, or defends against ertforcement of the Iten in, legal proceed(ngs which in the Lender's opinion operate to prevent the � ;:�:� `
<br /> �`•' entorcemerrt of the Ilen;or(c)sewres trom the holder of the lien an agreement satisiactory to Lender subordlnaUng the Ilen to • �:iF
<br /> this Sewrity Mstrumen�H Lender determines that any part of tfie Property is subject to a Uen which may attain priorily over this � --
<br /> • 8ecurfty Instrument, Lender may give Borrower a noUce identiryAng the Ilen.8ortower shall satish/the flen or take one or more o! • ';;���•
<br /> ' �� the actions set fortb ahove wfthin 10 days of the giving ot noUce. � � �"
<br /> � ' S. tiazard or Property I�surance.8orrower shall keep the improvements now extsting or hereafter erected on the �'`'
<br /> � ' • � � Properry insured against losa by Are, hazards inciuded wflhln the term 'e�¢ended coverage' end any other hazards. (nciuding : .•. `� � '.
<br /> . , . floods or tlooding,fo�which Lender requires insurance. This insurance shall be malntalned In the amounts and for the perfods . • �
<br /> • that Lender requires. The Insurance carrler providing the insurance shall be chosen by Bortower subject to Lenders approval ' • .• .
<br /> which shail not be unreasonably wfthhetd. If Bonower fails to maintain coverage describ¢d above, Lender may,at Lender's � '.
<br /> � ' opUon,obtain coverage to protect LenQer's dghts In the Properry In accordance wfth paragraph 7. � '
<br /> i All insurance policies and renewals shall be acceptable to Lender and shall Inciude a standard mortgage ctause. Lender � �
<br /> shall have the dght to hoid the polides and renewais. If Lende►requires.Borrower shall prompUy give to Lender all receipts ot . .
<br /> � � paid premiums and renewal notices. In the event of loss, Bortower shall glve prompt notice to the insurance carrier and Lender. , .. ,
<br /> • ' Lender may make proot oT loss H not made prompfiy by Borrower. • , _ ,
<br /> • Unless Lender and Bortower otherwlse ag�ee in wriUng, insurance proceeds shall be appped to restoraUon or repair of ffie , �•
<br /> • Property damaged.H the restoraUon or repair is economipltyr teasibte and Lender's securiry is not lessened. If the restoraUon or - .
<br /> � repair is not economically feasibte or Lender's secudty would be lessened,the insurance proceeds shall be applied to the sums ': .
<br /> • ' � " secured by this Security InsUument, whether or not then due, wfth any excess pald to Bonower. It BoROwer abandans the . -
<br /> . : PropeRy. or does not answer wrihin 30 days a naUce from Lender that the Insurance carrier has oHered to settie a ctalm,then
<br /> � , Lender may collecl the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums �
<br /> '., secured by this 3ecurity Instrument,whether or not then due. The 3aday period will begin when the notice is glven.
<br /> ; Unless Lender and Bortower othervulse agree in wdting, any appliceUan of proceeds to principal shall not eMend or I�
<br /> ;; � poatpone the due date o1 the monthty payments reterred to in paragraphs 1 and 2 or change the amount oi the paymenta. Ii
<br /> , � i under paragraph Zt the Property ls acquired by Lender, Borrower s dght to any Insurance policies and proceeds resutUng hom �
<br /> , damage to the Property pdor to the acquisitlon shail pass to Lender to the exteM of the sums by thla Security InstrumeM � �
<br /> • immediatey prior to the acquisftlon. ; �
<br /> ,: � 6. Occupancy, Preservatioro, Mairrtenance and Protectton of the Property; Borrower's Laan � '
<br /> AppliCBtlOf1; LA889ltOld9. Borrower shatl occupy, estabtish, and use the Property as Bortower's prineipal residence within �
<br /> sixty days after the execution o1 this Security Instrument and shall conUnue to occupy the Property as Bortowers pdncipat
<br /> ` residence tor at least one year afrer the date of occupancy, unless Lender o2hervvise agrees in writing,which wnsen! shall not
<br /> be unreasonably wfthheld,or unless extenuating circumstances exlst which are beyond Bortower's control. Bonower shall not �
<br /> � destroy, damage or impair the Property. allow the Property to deteriorate,or commit waste on the PropeRy. Bortower shall be in
<br /> defauit if any foAeiture action or proceeding. whether civfl or criminal, Is begun that In Lender's good taith Judgmenf coutd resuit �
<br /> ' � in torteiture of the Properry or othenvise materlelty impalr the lien created by this Security Instrument or Lender's security interest.
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