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<br /> ITOaETHER WITH ell the improvements now or hereafter erected on the property, nnd all easements, appuRenances, and ,
<br /> � fixtures now or hereafter a pert of the property. All replaaaments and addltlons sheN also be covered by thls Securlty Instrument.
<br /> I AII ol the loregoing is referred to fn ihls Security Instrument as the 'Property.'
<br /> BORA()WER COVENANTS that Borrower Is lawhilly selted of the estate hereby conveyed and has the right to grant and
<br /> convey Iho Property and that the Property Is unoncumbered, except lor encumbrnncos of record Borrowor warrants and wll� , __
<br /> defend generalty the tftle to the Property agafnst all clams end demands, subject to nny encumbrances of racord. � � � �
<br /> '� THIS SECURIIY INSTRUMENT combines unlfam covenants for natlonal uae end non•uniform covenants with lim�ted�
<br /> � varlatlo�a by Jurisdictlon to constitute a unllorm securNy fnstrument covering real properry. �
<br /> c UNIfORM COVENANTS. Bonower and Lender covenent and agreo as follows:
<br /> 1 1. Payment of Princlpal and Interest;Prepayment and Late Cherges.Borrower shall promptly pey when�
<br /> due tha princlpni of end Interest on the debt evidenced by the Note and any prepayment and late cherges due under the Note. '�
<br /> � 2. Funds for Taxes and Insuranee. SubJect to appllcable law or to e wriqen waiver by Lender. Bonower shall pay O
<br /> to Lender on Ihe day monthty paymenls are due under tho Nolo, unlll the Note is pnid In tull, e sum ('Funds') for (a) yearlyA
<br /> taxes and assessments which may uttaln prioriry over this Security Instrument as a Ilen on the Property; (b) yearly leaseholdl�
<br /> , � � paymenis or ground rEnts on the PropeRy. ii any: (c) yeariy hezard or property insurance premluma; (d) yearly Ilood Insurance
<br /> premiurns,ff eny; (e) yearly mortgege Insurance premlums.II any; and (� any sums payabie by Borrower to Lender In accordanco
<br /> with ihe provislons of paragraph 8, in Ileu oi thu peyment of mortgage insurence premlums. 7hese items are called 'Escrow _.
<br /> IItems." Lender may, at any time, collecl and hold Funds In an amount not to exceed ihe mexlmum amount a lender for a �„
<br /> 1 federally related mortgage loan may requlre tor Borrower's escrow account under the(ederel Real Estete Settlement Procedures " .�, .:
<br /> A c t o f t 9 7 A a s a mended lrom timn to tlme,12 U.S.C.� 2801 et seq. ('RESPA°), unless another law that appUes to the Funds ,. Tt� ,
<br /> I sets a lesser amount. It so. Lender may,at any time, collect and hold Funds in an amounl not to exaee d t he lesaer amo u n t. ,,._,,��;��,_
<br /> Lender may estimate the amount oi Funds due on the besis of curcent data and reasonable estimates of expenditures of future � �,;;�„Y�
<br /> ' , 1 Escrow Nems or othetwise In accordance wlth appllceMe law. .
<br /> I The Funds shall be held in en Institutbn whose deposlts nre insured by a federal egency, inatrumentality, or entity (Including
<br /> Lender.H Lender is such an Institutlon) or in any Federal Home Laan Bank. Lender shall epply the Funds to pay ihe Escrow �.-,_;,
<br /> ; � Items. Lender may not charge Borrower for holding end applying the Funds, annuaily analyzing the escrow account,or veri(ying
<br /> the csuow Items, unless Lender peys Bonower Interest on the Funds and appliceble law permits Lender to make such a
<br /> F charge.However, Lender mny require Borrower to pay a one•time charge for an fndependent real estate tax reporting service
<br /> � used by Lender in connection with thla loan, unless appllcabie law provldes othenvise. Unless an agreement Is made or
<br /> , spplicabte law requires Interest to be pald, Lender ahell not be requlred to pay Borrower any Intareat or eamings on the Funds.
<br /> Bortower and Lender may agrea In writing, howevrx. thel Interest shall be pald on lhe Funds. Lender shall gbe to Borrowcsr,
<br /> • , without charge, an annual accounting of the funds,sl�owing credits and debits to the Funds and the purpoae for whlch each
<br /> • •'j' debil to the Funds was made. 1he Funds are pledged as additlonal securily tor all sums secured by the Security Inslrument.
<br /> If Ihe Funds held by Lender exceed the amouMs permitted to be held by applicable iaw, Lender shall account to Borrower �� __
<br /> � ! for Ihe excesa Funds In accardance wlth the requirements of applicable lew. If the amount of the Funds held by Lender at any ,t. .:�-
<br /> :•� time Is not su�iclent to pey the Escrow Items when due,Lender mey so notNy Borrower in writing, and, In such case Borrowar
<br /> shal pey to Lender the amount necessary to make up the deticiency. Borrower sheN make up the deflclency In no more than
<br /> t twelve monthy payments, at Lender'o sole dlscretlon. •
<br /> s S Upon peyment In full of all sums secured by ihls Security Instrument, Lender shall promptly retund to Borrower ary Funds u ��'
<br /> { held bylender. If, under peragraph 21, Lender shell ecqulre or sell the Property, Lendor,prlor to the acquisitlon or sele of the
<br /> _ iL P{n�,1Pf1V RI78Y 8�1PIV any Funds held by Lender at Ihe tlme of acquisRlon or sale as a credit agalnst the sums secured by thla _
<br /> Securiry Instmment. .
<br /> 3.Applicatfon of Payments. Unless eppliceble law provides othenvise, all peyments received by Lender under �` ���:
<br /> paragraphs 1 and 2 shell be applled: Orst, to any prepayment charges due under the Note; second,to amounts payable under �,i
<br /> paregraph 2;third,to Interest due;fourth,to principal due;and last,to any lete cherges due under the Note.
<br /> �' 4. Chat'ge8; LIenB. Borrower shall pay eN texes, assessments, charges, flnos and Impositlons attributabla to the :''
<br /> � Properry whlch rnay attaln priority over this Security Instrument, and leasehold peyments ar ground rents.H any. Borrower shaY �.
<br /> � pey these obllgatlons In the manner provided In peragraph 2, or It not pald In that manner, Bortower ahell pay them on tlme �.
<br /> „ dkectiy lo the person owed payment. Borrower sheY promptly fumish to Lender al notices of amounts to be paid under this ; ,
<br /> , paragreph. If Borrower mekes these peyments directly, Borrower shall promptly fumish to Lender receipts evidencing the !�
<br /> payrnenls. .�.:�. -
<br /> , BoROwer shaN promptly discherge any Iien wMch has pdority over this Security InstNment uniesa Bor►ower. (a) agrees in �,��_.
<br /> wriling lo the payment ot the oblig¢tlon secured by the Ilen In e menner accepteble to Lender, (b) contesta in good falth the —=_�;_— --
<br /> Ilen by,or defends agalnst enforcement of the Ilen In, legal proceedings whlch In the Lender's opinion operete to prevent the �
<br /> enlorcement of the Ilen; or(c) secures from the holder of the Ilen an agreement satlafactory to Lender subordinaling the Ilen ta _ -_
<br /> this Security Instrument. Ii Lender determines that any pert of the Property Is subJoct to a Yen whlch may atteln prforlty over this �_� _
<br /> 5ecurily Insirument, Londer may give BoROwer a notice Identflying the Iien. Bortower shall satisly the Ilen or take one or more of �_j V�_
<br /> •- the acibns set forth above withln 10 days of the giving o(notice. —
<br /> ,� 5.Hazard or Property Insurance. Borrower sha{I keep the improvements now existing or hereafter erected on the ��,.:;y�
<br /> . Prap�rty insured againat loss by flre, hezards Included within the tertn `extended coverage" end any other hazards, Including �-_,gT___
<br /> � tioods or ilooding, for whlch Lender requlres Insurence. This Insurence shall be meintained fn the emounts and tor the pe�lods �■"I!�� __ �-
<br /> thet Lender requkes. The Insurance cartler provldng the insurance shall be chosen by Borrower subJect to Lender's approval �Yrla�++�e�---
<br /> which sliall nat be unreasonebly withheld. If Borrower tafls to meiMaln caverage desulbed above, Lender may, at Lender's ��y,_=:
<br /> •J ` optlon,obtaln coverage to protect Lender's rights in the Property in accordance with paragraph 7. m -_-
<br /> A1 insurance poAcles and renewais shall be eccepteble to Lender und shall Include a standard mortgage clause. Lender ���'h�..�
<br /> shail heve the right to hold the policles and renewals. If Lender requlres, Bortower shall promptly give to Lender all recelpts oi 'h ��y,.
<br /> peld aemlums and renewal notices. In the event ol loss, Borrower shall give prompt notice to the Insurance carrler and Lender. t'•. ���`.:;,.. . .
<br /> Lender may make prooi of loss If not made promplly by Bonower. ���`'��
<br /> Unless Lender and Borrower otherwise agree In wdting. insurence proceeds shall tre appued to restoratlon or repair oi the '`"'� _
<br /> PropeAy demaged, it ihe restoration or repair is economically feaslble and Lender's security is not lessened. I(the restoratlon a • ' •
<br /> repair is not economically leasible or Lender's secwity would be Iessened, the Insurence proceeds shall be applled to the sums
<br /> secured by this Security Instrument, whether or not then due, with any excess pald to Borrower. If Borcower ebandons the
<br /> � Propeity. or does not answer within 30 days a noNce from Lender that the Insurance cartiQr has offered to settie a cla;m, then
<br /> � Lender may collect ihe insurance proceeds. Lender may use the proceeds to repalr or reslore the Property or to pay sums
<br /> Isecured by ihls Securlly Instrument,whether or nd then due. Tho 30•day period wdl begin when the notice Is glven.
<br /> I Unless Lender and Borrower othervviso agree in writing, any applicatlon of proceeds to princlpal shali not extend or
<br /> postpone the due date of the monthly payments reterred to in pnragrephs 1 and 2 or chenge tho amount of the payments. If I
<br /> � under paragruph 21 ihe Property is acqu±red by Lender. Bonov�er's right to any Insurance policies and proceeds resulting irom
<br /> � damage to lhe Property prior to the ocquisition shall pass to Lender to the extent oi the sums by thls Secudty Insirument
<br /> �nmediatery prfor to the acquisilfon.
<br /> I 6. Occupancy, Presorvation, Maintenance and Protection of the Property; Borrower's Loan
<br /> e..�u....��....• �osoeh.,lrle Rnrrnwar chall nr.r.unv nstablish. and use the PropertV es Borrower's pnnclpal resldence within _,
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<br /> s�xty days eftei the executlon of this Security Insirument and shell continue to occupy the Property as Borrower s princfpel
<br /> ; residence lor at lenst one year aRer the date ot occtipancy. unless Lender otherw�se agrees m writing. which consent shall not
<br />- be umeasoonbly withheld.or unless exlenuating crcumstances exist which are beyond Borrower's conirol. Borrower shall not
<br /> _ clestroy. damage or�mp�ir ihr Properly. nllow the Property lo detedorate. or commit wasle on ihe Propc:ty. Borrower shnll be in
<br /> defc�ull if any torteftum nction or proceeding. whelher crvil or cnminal, is begun thal In Lender's good fafth �udgment could result
<br /> m lodedure of lhe Property or otherwise matenalty�mpair the hen created by thfs Security Instrumant or Lender's secuNly mterest
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