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<br /> ` ' • TODETHER WITH all the Improvements now or hereaRer erected on the property, and all easements. appurtenances, and ,'
<br /> � ' flxtures now or heroalter a part oi the property.AA replacemente und eddltlons shaii also becovered by thls Securfty InstrumenS. ,
<br /> All ot the foregoing is referred to In thls 3ecurity Instrument as ihe 'Property.° •
<br /> • BORROWER COVENANT3 that Borrower Is Iawlully seizod of the estale hereby conveyed and has the rlght to grant and i
<br /> � convey the PropeRy end Ihat the Property Is uneneumbered, except for encumbrunces of rec:ord- Borrower v�enents and will
<br /> detend generally ihu tYlo to tho Property flgalnst aY clalms and demands. subJact to eny encumb�ances o1 record. �� � _
<br /> THIS SECURITY INSTRUMENT combines unitortn covenanta for natlonel uso und non-unifotm covenanta with Ilmlted C�O
<br /> variatlona by Jurtsdictlon to conatltute a unifortn securlty Instrument cavering real property. �
<br /> UNIFORM COVENANTS. Bonower end Lender covanent end agree as followa: ',}a
<br /> 1. Peyment of �rineipsl and Interast; Prepayment and Late Chargee.Bartower shall promply pay when .•� -�
<br /> due lhe principal of and interest on tho debt evldenced by the Note and any prepayment and late charges due under the Note. � ��°=
<br /> 7. Funds for Tax�s and Ineurana�.SubJect to eppllcable law o►to a written weNet by Lender, Bortower ehall pay �
<br /> to Lender on ihe day monthly payments aro duc under the Nota, untll tho Noto Is pald In hdl, a sum ("Funda') for. (n) yearty ��
<br /> texes and assessmenta whlah may arialn prlority over thla Sacurity Instrument as s Ilen on the Property: (b) yearly leasehold � __-
<br /> � paymants or ground rents on the Properly. If any; (c) yearly hezard or property Insurance prernlums; (d) yearly tlood Inaurance -__
<br /> �, premiums,if any;(e)yearly mortgaga lnsurance premlums,B any; and (1� any suma peyable by Bortower to Lender In accordance __—
<br /> wlth the provislons ot paragreph 8, in Neu of the payment of mortgage Inaurance premlums. These Items are called 'Escrow ---
<br /> Items.' Lender may, at any tlme. coNect and hold Funds In an amount not to exceed Ihe meximum amount a lender for a _
<br /> federelly related mortgage ben may requlre for Borrower's escrow account under the tederel Real Eatete Settlement Procedures
<br /> Act of 1874 ns amended hom time to time, 12 U.S.C.�2801 et seq. ("RESPA'), unless andher law that applles to the Funds
<br /> sets a lesser amount. If so, Lender may, at any tlme, collect and hold Funds In an amouM not to exceed the lesaer amount.
<br /> Lendor may estimate the amount o1 Funds due on the basis of current date and reasanabb estYnates of expenditures of tuture
<br /> � Escrow Items or othervvise In accordance with appllcable law.
<br /> The Funds shall be held In an Instttution whose depostts are Insured by a federal agenq, inswmentalfly, or ent!ty (Including ,-
<br /> l.ender. If Lender Is such an InstltuUon) or In any Federal Home Loan Bank. Lender shallappy the Funds to pay the Escrow '-*
<br /> Items. Lender may not cherge Bortower tor holding and epptying the Funds, ennualy analy�ng the escrow account, or verllying
<br /> the Escrow Items, unless Lender pays Borrower interest on the Funds and appNcable kw permits Lender to make such a
<br /> chargo. However, Lender may requlre Borrower to pay e ono-time charge for a� indepe�dmt real eatate tax reporting service
<br /> ' used by Lender in eonnection wfth thls loan, unless applicable law provides othe►wlse. Unleas en agreement Is made or _
<br /> �: applicable law requlres interest to be peid, Lender shall not be requlred to pay Bortower mry interest or eaminga on the Funda.
<br /> Borrower and Lender may agree in wdting. howover, thet interest shall bo paid on the Funda.Lender shell glve to Borrower,
<br /> wlthuut charga,an ennuel accounting of the Funds, showing credfts and debtta to the Fuads and the purpose for whlch each
<br /> � debit to the Funds was mede. The Funds are pledged as addltional security for all sums secured by the 3ecuriry Instrument. -
<br /> if the Funda held by Lender exceed the amounts permltted to be held by applicable len, Lender shall account to Bonower _
<br /> for the excass Funda in accardance with the requirements of appliceble law. If the amou�t of the Funds held by Lender at any __
<br /> �• time is not su�icient to pay the Eecrow Items when due, Leader may so notify Borrower In wNUng, and, in suah cese Bortowet ,.
<br /> shall pay to Lender the emount necessary to make up the deflclency. Borrower ohatl make up the deHciency in no more than
<br /> � tweNe monthly payments,at Lender's sale discretton. °
<br /> Upon payment In fu�of ell surna secured by this Securiry Inatrument, Lender shaG prompty relund to Bortower any Funda
<br /> held by Lender. If.under paregraph 21, Lender ahall acquire or sell the Properry. Lender,prlor to the acquisidon or sale of the
<br /> Proaerty, shail appty any Funds held by Lender at the time ot ecquisition or sale as a credit againat the sums secured by thie
<br /> Security Inatrument.
<br /> 3. Appllea:ion of Pa�meltte. Unless appAcablo law nrovides otherwlae, all paymente receNed by Lender under
<br /> paragraphs 1 and 2 shall be appiled: flrst, to any prepayment charges due under the Nole; second,to amounts payable under - —
<br /> paregreph 2; thkd, to Interest due;fourth, to ptincipei due; and last,to any late cherges due u�der the Note.
<br /> 4. Ch6�rge8; LIYnB. Borrower shall pay ail taxes, assessments, chargea, flnes and Impos(tlons attributable to the
<br /> PropeAy which may attaln prfority over thls Security Instrument, and leasehold peyments or ground renta,it any. Borrower ahalf
<br /> pay these obllgations (n the manner provided h peragraph 2, or Ii not paid In that marwer. Borrower ahall pay them on time
<br /> •H directry to the person owed payment. BoROwer shail prompty tumlah to Lender all notices d amounta to be pald under thla �ii�-.
<br /> ,� paragraph. If Bortower makes these payments directly, Borrower shaM prompty fumish to Lendar roceipts evldencing tha
<br /> � payments. -
<br /> � Bortower ahatl promptly discharge any Iien whbh hes priorily over this Security Instnment unlesa Bortower. (�)agreea In �
<br /> :. wr(ting to the payment of the obligatlon secured by the II9n In a manner acceptable to Lmder; (b) contesta In good faRh the �
<br /> � Ilen by, or defends agalnst eniorcement ot the Ilen in, legel proceedings which (n the Lender'e opinion operate to prevent the --
<br /> ' eniorcement of the�en;or (n) secures trom the holder of the Ilen an agreement satisfactary to Lender subordinating the ifen to -�-_
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<br /> this Security Instrument.If Lender determines that any part of the PropeAy is subJect to a kn whlch may attein prbrtty over this �:,,
<br /> 8ecudty Instrument,Lender may give Borrower a notice Identifying the Ifen. Bortower shall aetisy the Ilen or take one or moro of - _
<br /> . the actions set fotth above wRhin 10 days of the giving of notice. ___
<br /> . f' 6. Hezard or Property Ineuranes. Borrower ahail keep the Improvements now edsting or hereafter erooted on the -_----
<br /> . � Property Insured agelnst losa by fire, hazards Included withln the term 'extended �overage" end any other hezards, Including �,v_
<br /> floods or ilooding, (or whleh Lender requlres Insurance. This insurance sheN be msintainM in Ihe amounts Qnd tor the periods !'rT�._
<br /> thet Lender requires. The fnsurance cartier providing the Insurance sheN be chosen by Bwrawer subJect to Lenders approval -- .__.
<br /> which shall not be unreasonaby wlthheld. If Borrower felis to mainteln coverage desmbed above. Lender may, at Lender's �_
<br />_ � optfon, obtaln coverage to protect Lender's rights In the F'roperty In accordance with paragraph 7. .,��,o�
<br />} All Inaurence policlea and renewals ahall be acceptable to Lender and shail Indudea etanderd mortgage clauae. Lender :^�� ",�..
<br /> • � shall have the right to hold the policles end renewals. It Lender requlres, Bortower ahaM promptly gNe to Lender all receipts of , .
<br /> i pald premlums and renewal notices. In tho event ot loss, Borrower shall gtve prompt notke to the Insurance carrier and Lender. �"'�`��:
<br /> Lender may meke proof of Ioss It not made prompty by Borrower. • _, ;,..��;?
<br /> Unless Lander and Borcower otherwlse agree In wdting, Insurance proceeds shall be applled to rostoratlon or repalr of the ' '�
<br /> Property dameged,M the restoratlon or repalr Is economlcally teaslble and Lender's securily is not Iesaened. If the restorr�Uon or ��"r•: •�:
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<br /> - repalr Is not economiceYy feeslble or Lender's securfty would bo Iossened, the Insurence proceeds shall be applled to the auma , :r.,.
<br />� 1 secured by thls Securlry Instrument, whether or not then due, wlth any excess pald to 8ortowec If BoROwer sbandons the •.
<br /> - I property, or does not answer wlthln 30 deys e notice(rom Lender that lhe Insurance canler has ottered to settle a clalm, then
<br /> Lender may cdlect the Insurance proceeds. Lender may use the proceeds to repelr or restore the Propetly or to pay suma I
<br /> secured by thfs Secu�ity Instrument, whetlier or not then due. The 30-day perlod wlll begln w hen the notice Is glven.
<br /> � � Unless Lender and Borrower othervrlse agree In wrlting, any appllcatlon oi proceeds lo princlpal shall not extend or
<br /> postpone the due date oi the monthly payments referted to fn paragraphs 1 and 2 or cha�ge the amount of the payments. If
<br />- ' under paragreph 2t the Property Is acqulred by Lender, Borrower's rfght to any Insurance polcles and proceeds resuRing from .
<br />-. � damage to the Properry prior to the acqulslqon shall pess to Lender to the extent ol Iha sums by thls 3ecudty Instrument
<br /> Immedfately pdor to the ecqulsltlon.
<br /> - 6. Occupancy, Presenratlon, Matntenance and Protectlon of the Property; Borrower's Loan
<br /> � - . A....Il....�t..n. �nnonh�lrle Rnnnwar ahal nr.r.�inv wC�Ah11Rh 8tld USD the PronerN as BOROW@f'S qt111C1p81 �@Sid@nCe wlthlfl _.
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<br />_ slxty deys after the executlon ot thls Securlty Instrument and shall contlnue to occupy the Property as Borrower's princlpal � � �
<br /> resldence for at Ieast on� yesr efter the date of occupancy. unless Lender otherwlse agees In wdting,whlch consent shell not '
<br /> be unreasonably w�thheld. or unless extenuating clrcumstances exist whlch ere beyond Borrower's control. Bortower shell not I
<br /> . destroy, damage or fmpeir the Property, allow the Property to detenorate, or commft wasle on the Property Bortower shaY be In �
<br /> defeuR if any forfeiture ection or proceeding, whether clvll or criminul, Is bogun thnt in Lmd�rs good falth judgment could resull �
<br /> - In forfelture of the Property or otherwlse material{y Impelr the Ilen created by thls 8ecudty instrument or Lender's securlty Interest. i
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