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<br /> TOGETHER WITH aIl the improvemertts now or hereafter erscted�n�the property, and all � � _
<br /> easements,ri�fits, appurtenances, rents,and fixtures hereafter a paR of the property. Ail replacemems .
<br /> and additions shall also be covered by this Security Instrument. AII of the foregoing is referred to in this ,
<br />� Sacurity Instrumsni as tha'Property°. =-
<br /> BORROUVER COVEMAIVTS that Borrower is lawfulty seised of the estate hereby conveyed and has . � - ; -_
<br /> - the right tu grar►t and convey the Property and that the Property is unencumbered, except for i _ __ , .s
<br /> encumbrances of record. Bonower warrar�4s and will defend generally the title to the Property against aU -< -
<br /> claims and demands,subject to any encumbrances of record. ' , �
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<br /> �:� COVENAPISS. Borcower and Lender covenant and agree as follows: �t''
<br /> �,�. .. " • ' • 3
<br /> ' i 1. Paymerrt of Prir.cipal and IrtLerest:Prepayment and Late Charges. Borrower shall promptly pay • „ � �'-.
<br /> :} when due the principat of the debt evidenced by the Note and any prepayment and lata chargas due under ; � .. ' =�ri---��-�-�`'``LL�4
<br /> �
<br /> � tfie Note. . . . '"�.
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<br /> 2 Funds for Taxes and Insurance. All real estate taxes and insurance shall be paid by BaROwer . �„�„�� s. •
<br /> � when due. � : � �'��_'_";.
<br /> 3. Charges; Lisns• Borrower shall pay all taxes. assessments,charges,fines,and impositions _ ��``s�" --
<br /> attributable to the Property which may atr'�-.r'.�iority over this Security Insirumertt, and leasehald paymer�ts .. ,''�`:��.
<br /> or ground�ertts,if any. Boa^�+•�r sts�?��.'�ese obtigatio�s in the manner provi�ed in paragraph 2,or if -___ - -�---�"�
<br /> not paid in that maru�er,B¢rt�men�sr s�t�.'?�:1�ein on time directly to the perso���x�d payment. Borrower -- ----�,`::��`"
<br />� sh-dl promptly fumish to Ler,���L;n��s��:amounts to lse paid und�'ihis para�-�fi. 1f Borrower makes -;:;'�.' ,'��'��
<br /> � ? these paymerns directly,Bor.o►ver sha`��r�ro�nptty fumish to Lender�aipts evidencing tha paymerns. `.'�*. r�'"'
<br /> ,t .,�'. �:�
<br /> - Borrowrer shall promptly discharge any I�an which has priority over this Security inswmertt �'`~_ ^ � �` -
<br /> :�•:l (e�xdr,r�ing any fi�st deed of uust)unless 9orrower.(a)agrees in writing to the paymeM of the obligation � ��' i
<br /> •, � sa�::;ed by the lien in a mannsr acceptabta to Lender; (b)contests in good faith the tien by,or defends �' � '.� �
<br /> ��' against enforcemar�t of the lien in,legal proceadings which in the Lender's opinion operate to prevent the e�" �`' ,;� -
<br /> ','�'��"' ..,�; •` __
<br /> � � ertforcemert of tha lien or forfeiture of arrti�art of the Property;or Qc?secures from the hotder of ths lien -�-;� ._.��,
<br /> an agreement satisfactoTy to Londer �e�rdinating the lien to �J�-s Security Instrument. If Lender )�.;�',•.;��s;:.
<br /> determines that any paR of th,e Property is subject to a lien which may attain priority ove�this Security �� , ,n�
<br /> Ir�swmertL Lender may give�wer a notice idemifying the lien. Borrower st�a4 satisfy the lien or take _ �%•� ��' ,-��� ;f��-
<br /> ' one or more of the actions set forth abave within ten(10)days flf the iv�n of noUCe. - � �� �� �'� �`�
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<br /> 4. Hazard lnsurance. Borrower shaU keep the improvements now existing or hereaRer erected on � y� ;;:-':�,�'"
<br /> tha'Property insured against loss by fire,hazards included within the term'extended coverago"and any � ''`� �
<br /> o�hazards for which Lender requires insurance. This insurance shall be maintainad in the amounts and -
<br /> fo�the periods that Lender requires. The in�urance carrier providing the insurance shall be chosen by ••�`�'!°•-
<br /> Bonower subje;c ts Lender's approval whfich shall nat be unreasonabty withheld. - � '' _
<br /> =:,_�ry=--:=.
<br /> At! insaranco poticies and renewats shall be acceptable to Lender artd shall include a standard _ - �,._
<br /> mortgage clause. Lender shall have the right to hold the policies and rene�n;.��s. If Lender requires. - —__ - _
<br />'�.� � Borrower shall pramptty give to Lender all receipts of paid premiums and ren��.�rotices. In the event of -
<br /> '�^""�.'.i�`_1'..:3�_
<br /> , loss,Borrower shall give prompt notice to tfie insurance prrter and Lender. ���R��s may make proof of toss '
<br /> �'�.'.1 =_-
<br />, if not made promptly by Borrower. -. _---
<br /> � �..! " �F.._� . :....�-- ��ia._��a�.'
<br /> � Untess Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to , ,.,
<br /> . ��r---���„
<br /> re,s:oration or repafr of the Property damaged, if the restoration or repair is economicalty feasible and ;;:�����r.,_
<br /> lender's security is not tessened. If the restorauon or repair is not economicalty feasible or Lender's
<br /> security wautd be tessened,the insurance proceeds shall be applied to the sums secured by this Security ������
<br /> - � ��.Ar-.y�..,_-� �
<br /> InstrumeM, whether or not then due, with any excess paid to Bonowe�. if Borrowar abandons the �"* �
<br /> ._:�.�.r;,��;
<br /> Property,or does not answer within thirty(30)days a notica from Lender that the insurance carrler has ,_ .: � -
<br /> offered to settle a claim,then Lender may coUect the insurance proceeds. Lender may usa the proceeds -�::'����;-•�_-��-����,_ _
<br />�,���!�: to repair or restore the Property or to pay sums secured by this Security Instrument,whether or not then ;_=;;T�•�:Y-
<br /> due. The thirCy l30)d�y perlod wllt begin when tha notice is givaro. °���•
<br /> . ,.r-�71, . . _ .�':r�.°,r��•�
<br /> � Untess Lender and Borrower otherwise agree in writing, any application of proceeds to principal � ' �`���- - �
<br /> s�o�ll�ot oxtond or posp�one the due date of the paymosr,4 referred to in paragraphs 1 and 2 or change ti� ���-��
<br /> �na�.mt of tfse paymorn. {f under paragraph 1�the Prmp�*yy is acqvired by Lender,Borrower's right to ar�r � • .
<br /> insurance po����s and proceeds resulting from damage to the Pea�arty prior to the acquisition shall pass � �
<br /> to Lender to the extent of the sums secured by this Secu� � • �
<br /> � ".nstrument immediately prior to the ! ` �y;:
<br /> acquisition. • � �
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<br /> 5. Preservation e�Maintenance of Prvperc�; Leasehols�s. Borrower shall not destroy,dama e � • � � ;-"�`�'`•� ���
<br /> or substantially change the?roperty,allow the Property to deterarate or corramit waste. If this Sacur'ity t� �• ���,'��:�:��� � •
<br /> � Instrument is cn a leasehold, Borrower shall compty with the pravisions of the lease, and if Borrower � • � . . - �
<br /> acquires fee z�!�±o ths Property,the leasehold and fee title shail not merge unless Lender agrees to the ; � . ' , �_,_,.
<br /> merger in wPiting. � . -�r
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