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<br /> �� and all easements. apAuRenances. and ' ' '_ ` ' •
<br /> TOQETHER WffH e1� the improvements now w hereatter erected on the property. t, , . „ �, -.
<br /> ' fixtures now or hereafter e Rart ot the property. All repl�cemonts and addiUons shall also be corered by this Securiry�nstrument , ; � �
<br /> Al!01 the toregomg Is reterred to �n ihis 3ecu r ri y I�sttument as the 'Froperty' , _
<br /> BORRQ1McR COVENANTS that BoRO�ver is t3wfwly se�zed of the estate he►sby conveyed and has the nght to g�ant and(g � �_
<br /> - c�nvay tho Property and that the Ptope+�ty � unencumbared. exc�pt Rar encumbrances o1 recnrd Bortower warranu �nd wdl� ;:
<br /> detend generally the tiUe to the Praperty ngainst nU ctnims and demands, subject to any encumhrances of record � ' �s�—_
<br /> THIS SECUfi1TY INSTRUMENT cambines uniform covenQnts far rtatians! use and aomunAorm covenams wdh hmrted �as`_
<br /> variatians by Juqsdfction to eonstitut�n undorm security insWment covering rea!properry � • ` . .�
<br /> U�1IFORM COVENANTS. Bosower and Lander covertant and egree as follows . • . , °
<br /> when �
<br /> 1. Payttaent of Priwcip�! an� Inteves�; Prog�aymant and Lato Charges. Borrower shall prompt�y pay �
<br /> due tho prinupal at and mtcresl on the debi mtdenced Dy the Note and any prepayment and iate charges due under tho Note. i �
<br /> 2. Fvnds foT Texes eitd In�urattCe. Sub�ect to appficaDle �aw or to a wrAten waiver by Lender.Borrower shall pay , � �'
<br /> ' to Lender on the day monthty payments nre due under tho Note. unLl the Note �s pa e^�on��`he SProperty n(b) Ye�y �easeha d� [� . _ _ t• .� r.
<br /> -- taxes and assessments which may arimn pnority over thts Securityr !��lrumeni as a , _ _ . _
<br />, • payments or ground rents on ine Properiy. d anY: (cl YeadY hnzard or propeAy �a�surance premfurrts. (d) yearty nood msurance '
<br /> premfums. d any: (e) yearly martgage�nsurance premmms, d any:and(fl eny wms payable by Bortower to lender m accordance
<br /> �� wilh Ihe proyisions nf parag�aph 8. in lieu o( the payment at mortgage msurance premwms These dems are called 'Esanw
<br /> Items-' Lender may. ut any Ume. colleU and hold Funds in en emount not to exceed the maximum amount a lender �or a �
<br /> }e�y{�y related mortqage loan may require tor Bartowei s esaow acwunt under the lederal Real Estate Selttement Procedures ':x _
<br /> Act of 1974 as amended from time to lrrce. 12 U S C. �2fi01 et seq ("RESPA'�. unless another law that appiies to lhe Funds � �-_�-��:_..
<br /> sets a�esser emount. H so.Lendar may. at any Ume. collect and hold Funds m an amount not to excee4 the lesser amount. '. a�+;G��
<br /> Lender may estimate the amount oi Funds due on the basis of current data and �easonable estimates o! e�sc-nditureis of(uture •. .^
<br /> Escrow�tems or othenr+�se in accordance with appGcable�aw. � �'-""'° _" �-'�"s`�'--
<br /> ..+ ..�--
<br /> The Fuads shall be hHd in an inslitution vrfinse deposi[s are insured by a federal agenc.y.instrumen�aldll• or��Y e E aow �' -- --'-=�
<br /> � Lender, il I.ertder is such an instituflon) or in any Federal Home Laan Bank Lender shaU appty the Funds to pay •. ... �'==-=-�
<br /> Items. Lender may noi charge Borrower for holding and appiying the Funds,annualry analydn9 the escrow account. or veritying `.��.;,•�,
<br /> � ihe Esaow Items. unless Lender pays Bortower interest on the Furtds and appticable law permits Lender ta make such a �����,;�_
<br /> charge. However. Lender may require Borrower to pay a onetime charge tor an independent real esfate tax repoRing service �r���;
<br /> used by Lender in conneetion with th�s loan. unless applicab►e law Provides othenvise. Unless an a�yeement is made or �a�=—
<br /> � appGcabte l�w reqwres interest Eo be paid. Lender shall not 6e required to pay Borrovrer any interest or eamings on the Funds. ,. ,, =�a.-,
<br /> 8orrower and Lender may a�ee In writm9. however. that mterest shall D>paid on the Funds. Lende► shall give to Borrower. , " •�.;�_4-��,
<br /> :�. ��.�
<br /> without charge. an annual accounting of the Funds. showing aedits and debits to the Punds and the purpose tor v�hiet► each C. :,�.�.;_--
<br /> deDR to the Funds was made. The Funds are pled9ed as additional securiry tor aft sums secured by the Security Instrumenf. " •^�__
<br /> It the F u n d s h e►d by L e n d e r e x c e e d t h e a m ounts pertnitted to be hetd by apptieable Iaw. Lender shall account to Borrower �• .:,��u^ _
<br /> for the excess Funds in accardance w(th the requGements of apptica6te taw. If the amount ot the Funds held by Lender a t a ny �—
<br /> v�?�f7�r' ..
<br /> Ume is not suffi�ent to pay the Esaow Items when due. LeaQer maY so noti(y 8orrower in writing. and, in suCh case BoROwer .a;��` Q ��. _
<br /> shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the defiaency in no more than ` ---�,�,..:;•. ��
<br /> "' lwetve monthty payments.at Lender s sole disuetion. ';'•� �
<br /> Upon payment in tu0 of all sums secured by this Security Insdvmen� Lender shall promptty reiwd to Borrower eny Funds
<br /> ' held by Lender. If, under paragraph 21. Lender shall acquire or sell the Property. Len der, pdar to tha a c quisition or sale of the
<br /> + �� Property, shall apply any Funds�efd by Lende►at the time of acquisi�on or sale as a ctedit against the sums secure�by this >..:��:_
<br /> Securiry InsbumeM• ents receired by Lender under .� • �':
<br />• " 3. R�n�iir.a4ifln O� Payi�6mZS. Unless applicabte law provid� othe�wise. all paym
<br /> �.-a.�:,:i;•. S and 2 shall 6e applied: Frst. to any prepayment charges due under the Note: second.to amounts payable under ���
<br /> p�,�_Tu:l, 2;thfrd,to interest due:taurth,to pdnciFal due;and last,to any late charges due under the Note. ;�.,-,,; �
<br /> ., �. C4tazge� L.I0�9S. Borrower shall pay aU taxes. assessmeMs. cfiarges. fm_s and impositions athitiutaD!e to the �s��;. ;�
<br /> _ . Frcperry i.hich may attain priotily over this Security Instrumen�and leasehold paymfln� or ground rents. it any 8ottower shall -��
<br /> l• � pay these ehBgations in the manner provided in paragraph 2. or 'rf not paid in fhat manner. Borrower she0 pay them on tima . •E�;'.�
<br /> directly to ths person owed payment. BoROwer sha(I promptty fumish to Lender all noUces o1 amaunts to be pald under thls .�,,
<br /> `�' paragraph. If BoROwer makes these payments directly. Bortower shall promptly fumtsh to Lender reCeipts evldeocing the � ,i,�
<br /> �;r�-
<br /> � payments.
<br /> Borrovier shall promptty discharge any Iien which has pdoriry over this Security Instrument unless Bonov�er. (a)agrees in ,�
<br /> � � writing to the payment of the obligaUon sewred by tfie lien in a manner acceptable to Lender: @)coniests in qcod faith the ;:�L
<br /> lien by, or defends agalnst enforcement ot the Gen in, legal proceedlr►gs which in the Lenders opinlon operate to prevent ihe ��� �
<br /> e�forcQment of the lien: or(c) secures hom the holder of the Iien an agreement satisfactory to LenCer suberdinating the Iien ta ��, '�
<br /> this c,,eqiriry 1nsWmenl.If Lender dete�es that any part of the Property Is subject to a Ueo which ray attain pr(ority over thts _ _.
<br /> � ,f Security Instrument, Lender may giva Bartower a noUce lden6tying the Iien.Borrower shall satisty the Er.�or take one ar mare a� - � ��
<br /> the actions set tarth above withln 10 days o1 the glving of noUce. � ' .•*;l���+�:"�
<br /> ��" 5. Hazard or Properly Insurance.Bormwer shall keep the lmprovements now exlsting or he�eafter Erc-cczd on the _ __
<br /> L:__._x,�_
<br /> PropeRy insured against loss by fire. hazards included withln the tertn 'extended coverage' and any other ha7ar¢� �dud�g ---- _
<br /> _ .•. � floods or tlooding,for whtch Lender requires insurance. This insurance shall be malntained in the amounts and tar ihe periads �_,.. ,-
<br /> that Ler.der requlres. The Insurance earder provid'mg the insurance st�.�be chosen by Bortowe•r subJect to Lender's eppmv-��C ��_�:.^�
<br />� whlch sha7 not be unreasonably withhe:d. If Borrower tails to ma:T�n coverago described above. Lender may.at Lender's =-�—�—_;:_J_�t
<br /> � � opUon, obialn coverage to protect Lenders rights fn tF.e F9�operty in accordance with paragraph 7. ., ! _
<br /> ' All insurance po8cles end renewals shall ba accepiatle to Lender end sha7 resude a standarde o��9���lreceipts ot l""�'
<br /> � !.{: shall have the dght to hofd the policies er.d renewals. tt Lender re�.'�es.Bortowv sha0 promptty g1v .� - �
<br />" i;;ki pald premlums and renewal noUces. In ire event ot losa. Bortower sr�4 give prompt noUce to the:surance carrc-�and Lende�. � �� • _
<br />. �;'�.�1 Lender may make prool of Ioss if not m�c�promptly by Bortcwer. �'��d:
<br /> Untess Len der an d Bo rt o w e r o t h e n v i s e a g r e e i n w z i t i n g,insurance proceeds <_I:�'1 be applied to restoration or repair of the _�:y �;,;s�,;��7;�,
<br /> property damaged.H the restoratlon or repair is econo-r.�.,afly leasible and LenCer 3 srycvrlty Is not lessened. If Y`te restoration or ;., ' ,'. ''�;'. _
<br /> � • •i repalr Is not economlcaJy teasible or Lenders secun.y ��•culd be Iessened,the ::+s�•r•��oa proceeds shall be appli�t r� the sums i�,, ,
<br /> ' secured by this Securfty InsVUmen t. w he t her o r not �hen due. with any excess G��3 to Bonower. If Borrower :i:andons the ��.r�� �.`�+.' i�e°y, ,
<br /> PropeRy. or does not answer within 30 days a notice from Lender tr.at Ihe insurance carrier has oHe►ed to settle a claim,then �,���,r��- `?�#�f;
<br /> • Lendet may co��eet the tnsurance proceeds. Lender may use the =ciceeds to repalr or restore the Property or to pa}t suzr.s ,��_�!:r,"`��t`�$„4;,
<br /> . • sewred by this Securiry Instrument,wAether or not then due. The 3:,-day pedod will begin when the noUce is ghren. - •• F.,a:}i;f� �
<br /> Unless Lender and Bortowe� oiherwlse agree in wriUng, any applicatlon ot proceeds to pdncipal shall not extend C7 _ —
<br /> postpone the due date o1 the monthry payments retcc�d to in paragraphs 1 and 2 or change the amount of the payments. H . :•-
<br /> � •
<br /> � under paragraph 21 the Property Is acquired by Le�der. Bortowers right to any irtsurance popcies and proceeds re��lUng hom �;;, ,
<br /> damage ta the Properly pdor to the acqulsi�on shatl pass to Lender to the exlent oi the su�ns by thls Sec�T.y Instrument �}.`
<br /> � immediately pdor to the acquisition. ��`4����
<br /> ` •..>4;. .
<br /> 6. Occupartc�, Presenration. (lflaintenance and Pratection of the Property; Borrower's Loa� • —
<br /> Appltcatton; LeasehOlde. Bonower shall occupy. eslab�ish, and use the Property as Borrower's pdncipal residence within
<br /> sixty days atter the executlon of thts Security Instrument and shall continue to occupy the Property as Bortower's pnncipal �
<br /> resldence tor at least one year after the date ot occupancy.unless Lender othervvise agrees in writing.which consent shall not --.
<br /> be unreasonabty wfthheld,or untess extenuating circumstances exisl which are beyond Bortower's control. Bortower shali not ;��
<br /> destroy. damage or impalr the Property. atlov+ the PropeRy to deteriorate.or commit waste on the Properly 9ortower shall be in ,
<br /> � default il any foAeiture aclion or proceeding, whether civil or criminal. is begun that i� Lender's good faith judgment could result .
<br /> � . in toAeiture ot the PropeAy or otherwise materially impair the lien created by this Security Instrument or Lender's security interest. ,
<br /> E
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