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<br /> , `� • � TOGEfHER WRH aU tha improvemertts now or heteaRer ereded cn the propecty. and all easements. aPPurtenances. and , �. ;: ,f.' ._
<br /> ` ' fodures now or hereafter a part of the prapeRy AO��P�����d addNons shaD also be covered by this Security tnstrumertt. _
<br /> " � All of the toregoing is reterred to fn this Security Instrument es the "PropertY•' • •
<br /> , • 80RROWffi COVENANTS that Bortow is unencumbersed�except to►entam6ranees o�ecordtl Bo ower wartants and wiU� � ° ' , . � . '.
<br /> � - convay the PropertY and that tt►e Properiy f) �
<br /> __ . __�.�_ detend generaly the title to the PrupeAy a8ainst all daims and demands.subjed to any enwmbrances of cecord.
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<br /> , •. 7HIS SECUR(TY II�STFiUMENT comb�su�ortn����f.overdng�eaanl property. d non-uniform wvenants with lim�ed� � '..•( ,.
<br /> variations by jutisd1cUon to consU'tute a wdto �Y � �
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<br /> UNIFORiN COVENANTS• Borrower and Lender covenant and agree as toilows: a when e • �
<br /> �,paytnefl!of Pdncipaf and Interes� Prepayment and Late Cltarges.earrower shaU prompUy p y .
<br /> due the prindpal ot and interest on the debt evidencad by the Note and any prepayment and late cdarges due under the Note. � t � ,
<br /> , . 2. Funds for Taxes and insurance.Subject to apPftcable law or to a written wai+rer by Lender.Botrower shall PSY(�'j , ,< . ��.
<br /> � � to Lender on the day monthly paymerEts are d�+e und�t1�e Note,unW lhe Note is patd in full,a sum ('Funds')tor. jeaseho d� ,.��{- '� '_ �. �
<br /> . . ,� - taxes and assessments whtch may atlain prioriry over this Security InsUument as a Uen on �e ProPerry: (b)Y�h insuranee '
<br /> • payments or ground rents on the PropeAy. if eny. (a)YeahY ha�d or property insurance premiums: (�Y�Y �
<br /> - - - premiums.iJ anY. (e)Year1Y mortgage insurance premiums.if any: end(�eny sums payabte by Bartower ta Lender in eccorda�� _ - -----`
<br /> witfi the provisions ot paragrsph 8. in Geu of the paymeM oi moRgage insuranae premituns. These items ere ca�ed 'Escrow —
<br /> � `� ° ltems.' Lender may. at any time. co��ect and hafd Funds in an amount not to exceed the maximum amount a lender tor a i.i _ '
<br /> ' federally related mortgage loan may raquire tor Borrowet's esrdow account under the tederal Real Estate Setdement Procedures
<br /> " • °.��; Act ot 7974 as emended from time to time.12 U.S.LC.m�2�U��d hold Funds�in an amount�ot o exceed thelesser amount .�.'^.,`�., ��r::
<br /> .. y� sets a lesser emount if so. Lender may.et any ° .-..
<br /> ` � Lender may esUmate tfie amount ot Funds due an the basis of curtent data ar�d rnasonable estimates of exPen�iL�res of tuture ,`:��.,�,•_� _4;
<br /> �..., .
<br /> � ,j Escrow Items or otherwise in aceordance with appGcable taw. � " :_�:_
<br /> _{ The Funds shall be hdd in an institution whose deposits are insured by a federal agency.in�e F�1l.to��e"�em��w . . . '--
<br /> I Lender,if Lender is such an Institution) or in atry Federa!Home Loan Bank. Lendel sha11 appty .F`.r�,:,���•�
<br /> �.I ltems. Lender may not charge Borrower tor hotding and apprying the Funds,annually analyzing the escraw account,or ve r i t y i ng ;�
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<br /> • ,� the Esaow Items. uniess Lender pays Borrower interest on the Funds and applicable taw permits l.ender to make such a ,. ;.�-__..
<br /> . :� eharge. However. Lender may require Bortower to pay a one-Ume charge tor an independent real estate tax reporUng servtce : �
<br /> used b y Lender in eonnecHon with this laan, untess apptica6te law provides athe►wise. Untess an a�eement is made or ,h .
<br /> �, appGcabie Iaw requlres interest to be paid Lender shaU not be required to pay Borrower enY interest or eamings on the Funds. . . � `
<br /> , - ' Borrawer and Lender may agree in wri�ng however,that�nterest aha0 be patd an the Funds. L�tde►shaU give to Bortower. : �r_
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<br /> �o�t charye, an annual accaurting ot tfie Funds, showing credds and dehits to t he Fun d s and the pu r pose for which each , .'� �'_r
<br /> debit to the Wnds was mada The Funds are R�ed9ed as additlonal security for a0 sums secured by the Security instrument. . . ; �,
<br /> ff the Funds held by Lender exceed the a�:atmts Permitted to be held by appAcable taw•Lender shall accoutrt to Borrower � • ;rJ TM.,,
<br /> for the excess Funds in accordance wRh ffie requirements of appGeable taw.H the amount of the Funds heid by Lender at any _____;
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<br /> � time is not suificient to pay the Escrow items when due, Lender may so noti(y Borrower in writing,and,in such case Borrower ?��
<br /> � � shall pay to Lender the amount necessary to make up the defldency. Borrower shan maice up the deflctency tn no more than ._,4,�,_
<br /> twelve moathly payments.at Lender's sole discretton. � �� �'"°"'��
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<br /> • • � Upon payment in futl of all sums sewred by this 3ecurity I�strument,Lender shall prompUy refund to Bomower any Funds � ;,`
<br /> , hetd by Leader. If,under paragraph 21.Ler►der shell acquire or seil the Prope►ty. Lender,prtor to the acquisitlon or sate ai tfie ��
<br /> � Property, shaU appty anY Funds held by Lender at the Ume ot acquisrtion or sale as a credt against the sums secured by this �.yy��
<br /> • � Security Instrument
<br /> • • .� 3. AppUcatlon Of Peymetlts. Unless apDlicabte taw provides othervvtse, aIf paYments received by Lender under ,;:..��;;"';�,,��.-
<br /> ' ' �` paragraphs 1 and 2 shail be applied: fust.to enY P�PaYm�t ��9�due under the Not�second,to amourtts Payabte under r_.:.a-��:
<br /> . paragraph 2;th(rd to(nterest due;fou►th.to principal due;and last,to any late charges due imde►the Note.
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<br /> ' - - 4. CilBfge� LiBnS. 8ortower shat{ pay al! taxes. assessments. charges. fines and imPosi�ons atUibutable to the _ ,��,`
<br /> :<•��.
<br /> ' Properly which may attain p�lority over this Security Instrument, and leasehoid payments or graund rents.'rf any. Borrower shafi . �..,�*,��;i
<br /> • pay these obliqaUons in the manner provided in paragraph 2, or if not paid in that manner, Borrower shaD pay them on Ume �y �F..
<br /> direcUy to the person owed paymeM. Borrower shaU promptty fumish to Lender a0 noUces of amounts to be paid under this ; s-.'.T_,_
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<br /> �. , - para�aph. B Botrower makes these payments directty. Borrower shell promptly fumish to Lender receipta evidencing ffie `;,��_,;,`
<br /> . : payments. �_�
<br /> Bortower shall promptly discharge any lien which has priorfry over this Securfly Insbument untess 8orrowe� (a)agrees in �': �: .
<br /> � - wrWng to the payment ot the obegaUan secured by the lien in a manner acceptable to Lender. (b) contests in good faith the �:a;
<br /> � Ilen by, or defends againsl entorcement of the (ien In, tegal proceedfigs which in the Lender's opinlon operate to prevent the ._r +
<br /> � entorcement o1 the Ilen; or(c) secures from the holder ot the Ilen an agreement satisfactory to Let�der subordinating the Iten to • ':;,��,;
<br /> this Security InsWment It Lender determines that any paR of the Property is subject to e flen which may atteln pdofily over this ; . �•<t,:��„
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<br /> � Searily tnstrument.Lender may g�ve Borrower a noUce identifying the tlen.Borrower shall satisty the Ilen or take one or more ot , r.;�:.
<br /> � ' • the adions set brth above wRhin 10 daya of the giving ot noUce. or hereafter erected on the � �"__:
<br />-.��:':, � � . 5. Hazard or Prope�iy lnsurance. Bortower shafl keep the imDroveme►rts now exisUng _
<br /> .;.:, Property insured against loss by tUe. hezards inctuded wfthin the term 'extended eoverage' and arry ether hazards, including
<br /> � iloods or ilooding.for which Ler.der requtres insurance. This insurance shail be maintained in the emouMs and(or the periods .
<br /> ihat Lender requlres. The insuranee cartie► providing the insurance shall be cfiosen by Borrower subJect to Lender's approval
<br /> which shail not be unreasonabty withheld. 11 Bonower fails to maintain coverage descr(bed above. Lender may. at Lender's '
<br /> � • • option, obtaln coverage to protect Lender's dghts in the Properly in accordance with paragraph 7. ' ��� •
<br /> - NI insurance polictea and renewats shail be acceptabte to Lender and shall include a �d�de t Lenader�ail rece pts ot � �
<br /> � shall have the right to hold the poiicies and renevrals. N Lender requlres.Bortower shall promptfy giv , .
<br /> � paid premiums and renewal notices. In the event ot loss,BoROwer ahall give prompt notice to the insurance carrler and Lender. .
<br /> � Lender may make prooi of IoSS A not made prompUy by Borrower. ' •
<br /> Unless Lender and Borrower othervvise agree in writing, insurance proceeds sha0 bs applled to restoralion or repair of the , . :
<br /> -`.� � Property damaged,H the restoration or repair is economically feasible and Lender's securityr is not [essened.N the reatoraUon or
<br /> � .� repair is nol economically teasible or Lender's security woutd be lessened,the insurance proceeds shall be applied to tha sums .
<br /> secured by this Secudty Instrument, whether or not then due. wfth any excess paid to Borrower. If 8ortower abandons the
<br /> ,;�: . property, or does not answer within 30 days a notice from Lender that the inautance cartier has otfered to setUe a claim,then
<br /> Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the PropeRy or to pay sums
<br /> secured by this Secudty InsVume�t,whether or not then due. The 3aday perlod will beg:n when the noUce is given.
<br /> • Untess Lender and BoROwer olherwise agree in writing, any applicaUon of proceeds to principal shatl not extend or .
<br /> posipone the due date o1 the monthty payments referted to in paragraphs 1 and 2 or change the amount of the payments. If
<br /> ,r . damageao9thehPropertyPprior o�thecac'quisiNonLshalrpassRt WLendeghto the extent o�fie�'su s by his S eurity In��nsWment � •
<br /> ' immediateiy prlor to the acqulsition �
<br /> � 6. Occupancy. Preservation, Maintenance and Protection of the Property; Bor�ower's Loan
<br /> jApplieation; Leaseholds. Bortower shall occupy, estabiish. end use the Properiy as Bortower's principal residence wfthin
<br /> � sixty days after the execution ot this Security Instrument and shall continue to occ�py the Property es Borrower s principal r
<br /> " residence tor at least one year after the date of occupancy. unless Lender othervvise agrees in writing, which consent shall not
<br /> � be unreasonabry withhetd. or unless extenuating circumstances exist which are beyond Bortower's conUol. Borrower shatl not . .
<br /> � destroy. damage or impair the Property. altow the Property to detedorate,or commit waste on the Properfy.Bortower shall be in .
<br /> � -t netoAei u e ol�theiPropecRy or�othervv se matedaUy impairrvtherlien created bythis Security Instrume t�or}Lenderd's securlty interest�t
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