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<br /> � TOQETH�A WITH al� tha lmprovesnents now or hereafter erected on the property. end ap easements, aypurtenanees. and . • v—
<br /> tbrturc� navr or hereafler a pari ot the propeAy.A!!teplacements and add:�tons shall a!so be cavered Dy thla Seturity Instrument. , ° _ =
<br /> Alt al tho taregoing Ss reterred to In this Se+¢urity InsUument os the'Properry•' , '��'�:�
<br /> - - BORROWER COVENANTS tAat Bortotiver �s tnvtfu:ty se¢ed oi tho estnte hereby convoyed artd has the nght to grant and . =•. .,�,,�_
<br /> corney t�e PropeRy and that the Property is unencumbered. 6r,cept tor mcum�rences a} record. Borrower wartants and wiii� , ,;.`,�.--
<br /> detend penem:ly tho titio to lho Property agalnst eD elalms and dem�►ds,subject to atty encumhrances ot record. ,_ .
<br />' THi9 SECUR17Y INSTRUMENT cromb:nes unitortn covenants tor national use and non�unitortn covenants wdh Iimrted� -.--,.�___
<br /> � vartaUons by J�Isdietlon to eonstitut�a uN4orm securlty instrument eavering real property. � � ':��._�`,`: �
<br /> � UNIFOAM COVENANTS. 8orr�wer and Lender covenant and aQreo as toVows: . ��
<br /> ' 1. Pmy�ent af P►inatpal and In4eres� Prepayment and 4.ato Chargos. 8orrov�ar shatt promptly pay when~ � =����
<br /> y r a ent and late char es due unQer the Note. � ���'"�'�'�"
<br /> due tho pdndpal of nnd interest on tho dabt evtdenced b the Note and any p ep ym 9 � , ;��
<br /> 2. Fu�tda tor Txxos aad Insurenee. Sub�ecl to applicabte taw or to a written waner by Lender. Bartower shaN pay �s.�.-_,�-_
<br />- to Lender on the day monthty payments aro due under the No2e, uniif the Note is paid m tutl.o sum ('Funds')for. (a) yeaAy� _ _�___�
<br /> . taxes and assessments whlch may atmin prtodty over this Securiry tnstrumeni as a tien an tho Froperty. {D) yeartY leasehotd� --_
<br /> ` � ' -��- ♦
<br /> � payments or gmund rents on the R►operty. if any: te) yearly hazard or propeRy insurance premlums. (d) yearry 11ood insuraneeiA �--�-
<br /> premiums.N any. (e)yeady mortgage insurance Dremlums.+t any:and (Q anY sums payable by 8onower to Lender in accordance .;�_..,..;;a�
<br /> with the provlslons of paragrap0 8, tn Geu of tha payment ot moRgage insumnce premlums. These items are ca1►ed 'Escrovi `�
<br /> Items.' Lender may. at any Ume. eoliect and hotd Funds in en amount not to exceed the maximum amount a lender tor a . _
<br /> ' tederai,y reLated maRgage loan may requUe tor 8orrower's escrow account under the tederal Real Estate Settlement Proeedures ,.,.,. � � +���
<br /> Act of 1974 as amended from time to time. 12 US.C.@ 26d1 et seq. ('RESPA'►, unless another taw that applies to the Funds x _ -
<br /> sets a lesser amoun� If so. Lender rtray, at any time. co�ect end hol�Funds in an emount not to exceed the lesser amouni
<br /> ` Lende►may estimate the amaunt ot Funds due on the basis of cument daia end reasonat►!u estlmates of r�enditures ot tuture
<br /> ' � Escrow ttems ar othervrise in accordance�vith appticable iaw. : ��,
<br /> The Funds shall be hetd in an instiNtion whose deposfts ere insured Dy a federal agen�y.instrumentality. or entity(nc!uding ....,,..,_-,t,��,.,,_
<br /> Lender, if LEnder is such an fnstituUan)or in any Federal Home Loan Bank Lender shail aypry the Funds to pay the Escrow �_ --�
<br /> ftems. Lender may nat ehr�rge Bortower for holding tmd apptyUig tfie Funds.annualy ansl�rdng the gscrow account or veritying i�� ,.
<br /> the Esaow Items. unless Lender pays Borrowee interest on the Funds and appGcable iaw permits Lender to make sach a �...�;�.:;�...
<br /> � efiarge. HaNever. Lender may requlre Borrower to pay a onaUme �eflarge for an independent real estate tax reparting service
<br /> used by L.ender In eonnecdon with this Ioen. untess eppiicabie law provides otherwise. Unless an s�eement is made ar ; _��Tt,_,�^_. �.� .
<br /> appHcable Iaw requtres interest to be paid. Lender shal{not be required to pay Bortower any interest or eamings on the Funds. T. ; . .
<br /> ' ��' Hortower and Lender may agree i� writiny, however. that fiterest shaU he paid on the Funds. Lender shell g;ve to Borrower. --5-�:. -
<br /> without charge, an annual accourrttng ot the Funds, showfng credits and debits to the Funds and tfie putpose tor whlch each � -
<br /> - debit to the Funds was mada The Funds are p�edged as add'Rional securfty for ell sums secured by the Securfty InsVUment. �
<br /> M the Funds held 6y Lender exeeed the amourtts permitted to be hetd by appiiceble law. Lender sfiai aceount to Bortower �.� . --.. .
<br /> tor the excess Funds tn accordanee with the requirements ot appticable law.It the amount of the Fuads heid by Lender at any � ��; _�
<br /> tlme ta not suftietent to pay the Eserow items when due. Lender may so notity Borrower fn writing, and, in such ca.e Borrower �;� ;;..
<br /> sha;I pay to Lender the amount necessery to make up the defidency. Bartower shali make up Lhe deftdency!n rto more than , �= _-
<br /> tw�+tie monthty payments.at Lender's sole discreUon. . , • .
<br /> Upon payment(n lull of eil sums secured by this Security Instrvment. Lc�rtder shail prompUy refund to BoROwer any Funds ; ,�.,::,• ..',� .
<br />- heid by Lender. If,under paragreph 21. lender shall acqufre or seU the Property.Lender. pdor to the acqulsiUan or sete of the '-��r=.t-�_�.__�:_�
<br /> . Properiy,shaU appy any Funds held by Lender at the Ume of acquisition or sa:�as a uedit against the sums secured hy lhis • •°r-�-�?;_.�.-,
<br /> security Instrumer►� ,-�:.�;�„
<br /> • 3. AppliC3tlOn O! PBymentS. Untess appiicahls law provides othenralse, all payments received by Lender under �_; �, , .
<br /> �� paragraphs 1 and 2 sha(I be appited first, to eny prepaymen4 charges due under the Note: second to amourrts payabte under �, _ ...-
<br /> pa.z�aph 2;third,to interest due;fourlh,to prindpal due;and las1,to eny late charges due under the Nota ��= '����: , _-�='„
<br /> �� S�� 4. ChSPg63; llfl�t9. Bottower shall pay all taxes. assessments, charges. fines c3nd tmyositlons atMhutahle to the —
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<br /> _ Property which may atte(n priorfry over thts Securtty Insbument,and teasehoid payments or ground rents,if any. Borrower shall ..��,��., `�
<br /> pay these obAg3tlons in the manner provided in paragraph 2, or iT not pald in that manner. Borrower shail pay them on tlme ,1: . �"'•
<br /> d'uectly w the parson owed payment. Borrower shali promptly fumish to Lender all noUces of amuunts to be patd under thls y , '., ; __
<br /> � pazagraph. H Bortower makes thsse payments direcUy, Bortower sha0 prompUy tumish to Lender reeelpts evidencing the ��_--
<br /> ���'•°__—
<br /> . payments.
<br /> , Bortower shall prompUy discharge any lien whtch has pdoriry aver thls Securfry instrumenl u�less 8orrower. (a)agrees in _.."�_
<br /> • mfting to the payment ot the obUgaUon secured by the Iien in a manner axeptabie to Lender: (b) corrtests in good tarih the - -----�
<br /> Uen by, or detends against enforcement ot the lien In, legal proceedings whi�h in tha Lenders opinion operate to prevent the �_
<br /> en}orcement of the Qen;or(c)secures from the holder o1 the Iien an agreement satlstactory to Lender subordlnatlng the Ilen to � �'�%y'
<br /> '' . thl.s Security(nstrument fl Lende►determines that any part of the Prep�ty is subject to a(len which may attain priortry over thLs -'�` ��—
<br /> ' Secudry Instrument. Lender may glve Borrower a noUce identifying the U�n.Borrower shell saUsty the tlen or talce one or more of �" .--_
<br /> ��, 4hs aations set tort4i above wfthin 10 days of the gtving o1 naRica ___-
<br /> . 5. H�erd or Property Inswance. Borrower shall keep the improvements now e�dsttng or hereafter erected on the -
<br /> Peoperty Insus�agains!toss by fire, hezsrds IneNded within the tertn '�ctended coverage'and eny other hazards,induding �' �"� �__�� -----
<br /> ftoods or(IooG'iTa,for which Lender requires tnsurance. This insurance shall De rnalntalned tn the amourds and tor the pedods M=-
<br /> that Lender re�:as. The insurance certier prov(ding the insurance sha0 be chosen by Borrower subject to Lende�a approval ��`I�_
<br /> which shall net be unreasona4+y withheid. If BoROwer fails to malntaln coverage descrfbed above, Lender may, at Lenda�'s �� _`._
<br /> � . opUon,obtaln coverags to proto�iendeYs rights in the Properly in aacordance with paragraph 7. � `�--r--
<br /> All insura..rxa polides and renewals shall be acceptabte to Lender and shall InGuQe a stendard mortgage dause. Lender _ _ *- �,;•r�=;
<br /> sha0 have the r���C to hold the palicies and reneweis. fl Lender requhes.Borrower shall promptiy give to Lender aU receipts of s..,�.:,.,.:. �__.
<br /> . � pald premiums a,r�i tenewal noUces. In tt►e ev�t of loss,Borrovrer shall give prompt noUce to the insurance carrier and Lender. ..�;�.#};�.,, .
<br /> � Ler.de►may mesa proof oi loss H not made promPtty by Borrower. _ •���'��".- _...
<br /> • Uniess LenBer and Bortower otherwise agee in wdNng, insurance proceeds shall be applied to restoraUon or repair o1 the '��"�t '-.� .
<br /> P,�perty damaged,H ihe restoraUon or repalr Is economicalty teasibfe end Lender's security is not lessened. It the restoraUon ar ;.;� �
<br /> '� repair Is aot economically feasible or LendePs security woutd be lessened,the insurance proceeds shall be aaplied to the sums ';_#,. �
<br /> secured �y this Sacudty Instrument, whether or not then due, with any excess pald to Borrower. If Bonawer abendons the _
<br /> Property. or G�es not answer within 30 days a noUce irom Lender that the insurance c�rtier has ofterofl 4�settle a claim,then 4 •• ;�;�=�
<br /> Lender may col:ed the insurance proceeds. Lender may use the proceeds to repalr or restore the Froperry or to pay sums _ _.
<br /> . secured by this Securiry Instrument,whether or not then due. The 34day period wiii begln when the notice is given. .�;�-'.'•'�"�"`��'
<br /> Unless Lender and Bortovrer otherwlse agree in wdi�ng. any applicaUon o} proceeds to pdncipal shall not e:.T:.^,d or t��
<br /> postpone the due date o1 the monthy payments referted to In paragraphs 1 and 2 or c*�or.�s the emount o}the payments. fl ��; _
<br /> under paragraph 21 the Properry Is acquired by Lander. Bortower s dght to any Insuranrie palicies and proceeds resulting irom •:• � . . •.��.
<br /> damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums by lh�s Security instrument �, . .. __:
<br /> • immediately pdor to the acquisfUon. . .�. _� _:
<br /> 6. Occupancy, Preservation, (sPlaiMenance and Protection of t�,� Propeityr Borrower'� Loan , . _
<br /> AppliCBtlOf1; Leasaholda. Borrower shall oeoupy, estabOsh, and use the Properly.^..a 8orrower's pdncipal resido�sxe wfthin -
<br /> . sixty days after the executlon of this Security Instrument and sh�ll conUnue to oecupy iye Property as Bortower's principal � •��,
<br /> residence for at least one year after the date ot occupaney, unless Lender otherwise agrees in writing. vrhich consent shall not �
<br /> be unreasonabl3r v+Rhheld,or untess extenuating circumstances exist which are beyrond Bortower's conVOl. Borrower shall not , -- __ ��-
<br /> destroy,dama�s or impair tfie Properly, allow the Property to deteriorate. or commd waste on the Property. Bortower shail be in • �
<br /> � detault it any fof.eture action or proceeding. whelher c&il or crlminal.Is begun that in L_-.ers good faith judgment couid result . , � —
<br /> • , in tarfeiture oi tne PropeRy or otherwise matedaily impair the lien created by this Secur.y �-_±roment or Lender's secudty i�terest • , � .
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