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<br /> ' T0t3E7'FiER WRH all the improvemct►ts now or hereafter erecte�on the property. and all easements. apDuRenances.and • � �=-t��y,; � .,� 4- �, _
<br /> fuctures now or h�reafier a paR ot the propeRy. ��replacements and addihons shall also be covered by this Securily�nstrument.
<br /> A�I ot the to�going is reterred to u�this Seariry►nstrument as the'Property.' • , �
<br /> BOiiROU+1�R COYENANTS that Bonower is tavr(ulry seaed ot the estate hereby conveyed and htu the nght to grant and . . :_—
<br /> convey the Rroperty and that the PropeslY is unencumbered. except ta �aimbrances of record 8orrower war►ants and w�l ,_�_
<br /> defer�d generaity the tiUe to the Property agais�st a ll d a i ms en d G e m a n d s s u b}e e t t o ert y encurnbrences ot record- � -��.
<br /> niis s=cuam IWSTRUMEIVT camDines unitortn covenants tar �aUonal use and non-unitorm covenants with [mited o�:�"�
<br />� • vflildtio�ls by j1inSIItCT1011 to COn`�itiuio i� uirnv'�"�'....w."'»1»:-°«'CL'^�'t rnva!no r2�1 oroPaM =_-_.- -_ f-_-
<br /> UNIFORM COVENANTS. Borrawer and Lender covenani and sgree as toltows: , "�,�
<br /> � 1. Paymant ot PHrtci��! ared Interes� Prepaymsnt and Late Charge�Bovower snan Prompuy Pay wnen ._
<br /> due the prineipal of and interes±on the debt evidenced by the Note and any prepayment and late charges due under the Note. . •;,ia
<br /> - 2. Funds 4ar Taases a�d Insurance. Subject fo applicable law or to a writtec� waiver by Lender. Borrower i ha��para�y . ,
<br /> to Lender on the day monthly paymenis are due under the Note,until the Nofe is paid in fuU,e sum ('Funds')tor a e • _
<br />� " taxes and assessmenis which may atta+n pdati2Y aver this Securit)1 Instrument as a lien on the Property: (b) Y�y I2asehold _-,-r•---
<br /> payments or ground rents on the Prcperty.if anY: (�) Y�N h�b or pmperty insurance premiums: (� yearly flood insurance ,
<br />• premiums,ff any. (e)yeau(y moRgage insurance premiums,it eny. and (fl anY sums payable 6y Borrower to Lender in aceordance ��
<br /> with the provisions o}paragraph 8, in lieu of the payment of moRgage insurance premiums. These items are called °Escrow ;`_-^�t'.��f�,�+
<br /> ` 4 ltems.' Lender may. at any time. collect and hold Funds in an amcunt not to exceed the ma�dmum amaunt a le�der for a � r`:�'
<br /> tederaily related mortgage laan may require tor Borrowers escxow acr.ount under the federa! Real Estate SetUement Procedures _.,�,t;,^c��•r_ _
<br /> �a �e.^'Jt:.'_"_.__
<br /> Act of 19'74 as smended from time to time.12 U.S.C.�2601 et seq_ �'RESPA'), uniess another law that appGes to the Funds =.,,. , , d� .
<br /> se[s a lesser amount. It so. Lender may.at any time. collect and hold Funds in an amount not to euceed the lesser amount r�;y��_�..,;
<br /> ' Lender may estimate the amount of Funds due on the 6asts of arrent data and reasonahie estl�mates ot expend�res oi tuture '';:,��-��--u;'g'
<br /> Eserow Items or othenvise in ea:ordance vrfth app�cable law. y.'-ry* .
<br /> The Funds shall be held in en instiwUon�vhose deposits are insured by a federal agency,instrumentallty. or entity(�ndudi�9 , .;�;�_� __
<br /> LendEr. 'rf Lender is such an institution) or in any Federdl Home Loan Bank Lender shall apply the Funds to pay the Escrow ,.. _---- -
<br /> ,.t.
<br /> � ftems. Lender mtiy not chazge Borrower for holding and applying the Wnds, annually analYi.3ng the escrow account,or verihling ;_ __
<br /> the Escrow ftems. unless Lendsr pays Borrower interest on the Fo.�rds arsd appGrabie law pertnits Lender to make such a ' . '..,,�,..a...=. ,�_
<br /> charge. However. 4enda maY recN�re Bortower to pay a one-Sime c�a.'ge for en ��dependent real estate tax reporting service °���
<br /> ' used by Lender tn �::�edlon with this loan, unless app6cable taw provides o^.`.awis� UNess an aqreemertt is made or �y:�,��T��-•--
<br /> . app�cable taw requlres interest to be Fsaid Lender shatl not be required to pay Barrower any interest or eamings on the Funds. "�, . �
<br /> sa
<br /> • • Bortower and Lender may agree in writing. however, that intecest s!�a1� be paid o�the Funds. lender shali give to Bortower. _.:=-���,."�`�`�s
<br /> - without Cnazge. ah annual accounting af the Funds, showing�edcs and debits to the Fursds end the purpose tor which each _,� -,.,,.,..
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<br /> debit ta 4he Funds was mada The Fur,ds are ptedged as ad�tian�securitY for all sums secured by the Security Inswment. .,���.:��.� -
<br /> it the Funds held by Lender exceed the amourts permitted tc be held by applicabte law,Lender shall account to BoROwer ;�,_,�_ ,
<br /> tor the excess Funds in aceordance wfth the requ'uements o4 appticable taw. If the amount of the Funds held by Lender at eny ,� � `' ,^"""¢�"
<br /> ,���•: ;;i,-.
<br /> Ume[s not suNicle�t to pay the Escrow items when due. Lender may so noUfy Bortower in writinng.end in such case 8orrower � .`+. ,i•.-_
<br /> shail pay to Lender lhe amount necessary to make up the defidency. Bortower sh�ll malce up the defidency in no more than _ -
<br /> twehre monthy payments,at Lender's sote discreUon. , _ , `'
<br /> ` Upon payment in tufl of all sums secured by this Security Instrument. Lender shait prompUy 2fund to Bortower any Funds ,��'-:,�� ;' . '
<br /> ,,.,��, hetd by Lender. If,under pasagraph 21. Lender sh31 acquire or seU the Property,Lender, pdor tc:be ecqulsiilon or safe ot the �. y. . " ii�'. ::
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<br /> property, sfiall appty any Funds heid by Lender at`t.a time cf acquls(tlon or sate as a credit a�-�:^:st the sums secured by this ,' �'�`•=
<br /> � �J<'�,.y-
<br /> . Security Insisument •�:.?,:; �` `.._
<br /> 3. App11C�On of Payttlents. Unless a,allcable law provides othenvise, eil paymen's received by Lender under ::1'•'_ , �"'''��E �i:�•�;��,.
<br /> paragraphs t and 2 shall be apphe� first, to any prepayment charqas due under the Note;se��d,to amounts payabie unde► � r ^
<br /> ��. ' `
<br /> � • parag�aph 2:1hErd,to interest due;touRh,to prfncipal due; and t3s*_ `:a enY late charges due under the Note.
<br /> � 4. Charge� Liens. eorrower shall pay all taxes, asszssments. charges. flnes and imposi�ons a.."^Satebte to the • �)i�.,_ ._
<br /> Property whicA may attetr►ptioritY over this 8ecu::y%nstrumen�and leasehoid paymertts or ground rerrts. "rf�.m•. 6ortower shall
<br /> � , pay these obngattons in the manaer provlded in p�agaph 2, or if not pald In that manner.Bonower sha0 Gsy�them on time ' :�•�' `��
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<br /> � direetly to the person owed payment Borrower shall promptiy tumish to Lender ait notices of amounts to be paid under thls i. •
<br /> �•:. , para�aph. tf Borrowe� makes these payments directty. Borrower shall prompUy fumtsh to Lender recelpts evidencing the �`�'• � ��.'�:
<br /> • payments. �!�. ;-; _=--
<br /> Borrower shall prompUy dischar;,a�.�y(fen whlch has pdority over this Secudty Instrume:��..r,'ess CioROwer. (a) agrees in r•'•" __
<br /> � miUng to the payment of the ob�gatton secured by the Uen in a manner acceptable to Lender, tb) contesta In good taith the � ��� _,
<br />, . Iten by, or defends agalnst enfoscement of the Hen in, Iegal proceedngs which (n the Lende�s opin(on operaie to prevent ihe �.,,r ^
<br /> c�ntorcement of the Ifen; or(c)secures irom the holder of the�en an agreement satisfactory tc lender subordfnaUng the lien to _ .�.�-?�., �•�;,�_
<br /> . ... ����;�� �
<br /> thts Security lnstrumenL It Lender determines that any part ot the PropeRy is subjecl to a (iee a::hlch may atffitn Prioriiy over this _
<br /> � Secur�4y fnstrument.Lender may glve Borrower a noUce Identitying tha Uen.Horrower sha0 saUsty the lien or take one or ma-a�: -�,w-�:�-_ ,
<br /> " � the aC:ans set fortt►above within 10 days of the glving oi noUce. �--4 . __
<br /> ' S. H a z u d o r P r o p o r Q y I n suranco. Bortower shall keep the improvements now exlsUng or hereafter erected on the �
<br /> PropeBy (nsured aga(nat loss by ftre, ha�ards inciuded withln the term 'extended cweraga' an d any a t her hazaz d s. in c t u d i n g _ __
<br /> � floods or ftooding,tor which Lender requtres insurance. Thls Insurance shall be maintained In the amourds and tor the periads _ - -
<br /> thet Lender requires. The insurznce carrier providing the Insutance shall be chosen by Borrower subJect to Lender's approval _ �-
<br /> • which shall not be unreasonabiy ����yhetd. li Borrower talts to matrAain coverage described ebove, Lender may. a1 lender's —
<br /> �• ' opUon,obtein coverage to protect!r�'dar's rights In the Property fn accerdance w(th Para9raDh 7•
<br /> NI insurance paai.as and �enewa�s shall bs acceptable to Lender and s!ss!I InGuda a standard mortga3e clause.Lender � i�
<br /> � � sha�havo the dght to hold the policies and rertc+�afy. Ii Lender requires, Bo�auer shatl promptty give to to-r�er ali receipta of -
<br />. pald prem[ums and renewal noUoes. In the ever.:ct'��ss,Borrower shall gtve G':r.ipt noUce to the insurance carrieT and Lender. ���_IFY.,--
<br /> Lender may meke proof ot loss fl not made prompLy fly 8ortowu. ' ' °
<br /> Untess Lender and Borrower otherwise agree in wr'tting, ir.*��:�nce proceeds shall be applied to restoraUon or repar of the � ^�:.:::'+ �� —
<br /> � Property damaged,tt tfie restoraUon or repalr is eccnortil�y ta�s1G'e end Lender's securfity Is not lessened.If the restore�u�,or °.,,
<br /> repair is not eeonomlcaty teasibte or Lender's secti:-.y would be tessened,the insurance proceeds shall be ttpplted ta the s�s - _
<br /> . secured by this Secudry Instrument, vfiether or n:,^ then due, wfth any excess pald to Borrower. It Be.:c�+er abandons the . •-_�.=:Y'�..
<br /> ' Property, or does not answer withln 30 days a no�ce irom Lender that the irsnace canier has oftered t� sattie a claim, then � • ��-.:,.
<br /> Lender may coUect the Insurance proceeds. Lende► may use the proceeds ta repair or restore the Property or to pay s.:s ^r,,. ��^���;�
<br /> • secured by this Secudty InsVument,v�hether or not then du�. The 30�day perlod will begin v.ten the noUce Is glven. �r.����k1 T.����
<br /> Untess Lender and Bortower c:hervvise agree in wriUng, any epplicatlon ot ptoceebs to pdncipal shail not exte-ia ar .�,.x,..,i�,�t,�y�af,,, . -_
<br /> postpane the due date o}the mor.°!�y payments reterted to in patagraphs 1 and 2 or change the amount of the paymEr:'S. if :�� y ;�R� _
<br /> � under paragrap b 21 t he P rope r t y is a c quired b y Lender, Borrower's dght to any insurance polictes and pro�eds resulUng kom � • �:.
<br /> � damage to the Properry priar to the acquisiQon shall pass to Lender to the extent of the sums by th:s Security Instrument _
<br /> � '. imnediately pdor to the acqulsitian. � � _
<br /> 6. Occupancy, Prese��aftion, Main4enance and Protoction of the Property; Borrowe�'s a.oan ;•
<br /> , �"�cation; L98S9holds. E��rower shaU occupy. establish. and use the Property as Bortower's principal residence wilhin „
<br /> sixty days after the execuUon o} this Security Instrument and shall conUnue to occupy the Property as Borrower's principal �:. ,.. ..
<br /> � residence for at leas! one year efte►the date o1 occupancy, unless Lender othervvise agrees in writing, which consenl shall noi ' .. .
<br /> • be unreasonably wr.-Seld.or uniess extenuating circumstances e�cist which are be�rond Borrower's control. Borrovrer shall not � _
<br /> . destroy. damage or r.npalr the Property. eltow the Properry to dete�orate,or cammit waste on the PtopeAy. 8orrov�er shall be in : . _
<br />� delault it any forteiture action ar p:oceeding, whether civil or criminel,is begun that In Lenders good faith iudgment could resutl . -
<br /> in foAeiture of the Property or o:-�rwise materfally impair the hen created by this Security InsWment or Lender's security interest. .
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