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<br /> � TO�ETHEA WITH all Iho Improvemant� naw or horenfter crocted on tlio property. �d all o1�r7ronfa ajipuitennncos, nnd -
<br /> tixturos now on c�reafror n pnrt ot tha property.All ropincemento c�nd addlllono ohall ulao bo coverod by thlo BocuWty Inatn�ment .
<br /> All ol tho lore4olnq la ro}crtod to In thl� Socurity Inolrumcnt aa tho 'Property" „
<br /> BORROWER COVENANTS thnt 5orrowar lo luwtully aciZOd o1 Iho oatato hQrchy convoyod nnd hns lho rlpht to prnnt ond
<br /> convoy the Property and that tho Properry Is unencumberod, oxccpt tor encumbrancoa ot record. Oorrowor warrnnts nnd will
<br /> defend genoraly tho tltlo to tho PropeRy agal�st nll clalms and de!nnnds, sub�ect to any oncumbrnncos ol rocord.
<br /> " THIS S�CURITY INSTRUMEN7 combines unifortn covonanta lor nallonal usn nnd non•unitorm covonants wilh Ilmited
<br /> variatlons by Judsdlctlon to constitute a unllortn security lnstrument covering real propnrty.
<br /> UNIFORM COVENANTS. Bortower and Lender covenant end agree ea tollows:
<br /> � 1, Pavcnent ofi PrinciPol and Interoat; Prepaymont and L.ate Char�ea. Borrower shnll promptly pay when ,
<br /> due the princlpal ot and Interest on the debt evldonced by the Note and eny prepayment end late chnryes due under lhe Noto.
<br /> � 2. Fue�da for Taxes and Insuranee. SubJect to appllcable law or to a wrllten waiver by Lender, Borrawer shall pay , . ._.
<br /> to Lender on the day monthly payments nre due under the Note, untll the Note Is pald In tull, e sum ("Funds') for: (a) yearly
<br /> �'+`� texes and assessmen�s whlch may attaln prlority over thls SecuMty Instrument as a Ilen on the Property; (b) yearly leusehold
<br /> � ',�, •+� paymenls or ground re�ts on the Property, If any; (c) yearly hazard or property Insurnnce premiums; (d) yearly flood Insurenco
<br /> premlums,If any; (o) yeariy mortgage Insurance premlumo, If any; and (�eny sums payable by Bortower to Lender In accordenco
<br /> wfth the provislons of paragraph 8, In Ileu o1 the payment ot mortgage Insurance premlums. These Items are called 'Escrow _
<br /> �; , ,� Items." Lendo►me at an tlme, collect and hold Funds In an amount not to exceed the maxfmum amount e len�ler tor e
<br /> ,.•: y, Y ,, .-
<br /> federelly related mortgage loan mey require tor Bortower's escrow account under the lederal Real Estate Settlement Procedures y,: ,.`` ,.,.,,,'
<br /> Act of 1874 as amended trom time to time, 12 U.3.C. @ 2801 et seq. ("RESPA"), unless another law thot applies to the Funds � ;,;,,_u_;:
<br /> •: ...- -
<br /> sets a Issaer amount. If so, LendQr may, at eny time, collect and hold Funds in an amount not to exceed tho lesser amount. '.� �'�.,,t{�,;{�-�,_
<br /> Lender may ostlmate the amount oT Funda due on the basls of current date and reasoneble estimates ut expendftures of future ,.,,ih:.�-
<br /> ! Escrow Items or otherrvlso In accordance with applicable luw. � �X•: '-
<br /> � � Tho Funds shall be held In en Instltutlon whose deposfts are Insured by e federal agency,Instrumentelity, or ontlty (Including ,�,.jftii,� : "
<br /> Lender, li Lender Is such an Institution) or in sny Federal Home Loan Bank. Lender shail apply the Funds to pey the Escrow .,:�,, ��_.--
<br /> :`� Items. Lender may not chflrge Borrower tor hol d ing an d app lying l iie Fu n d s, a n n u a l i y a n a l y z t n g t h o o s c r o�v a c c o u n t,o r v ed ryin q �• �,� 1i-_
<br /> • the Escrow Items, unless Lender pays Bonower Interest on the Funds and epplicable law permits Lender to make such e ::
<br /> ' � charpe. However, Lender may roqulre Bonower to pay a one•time chargo for an Independent real estate tex reporting service ' .�• •-�-
<br /> `^ `; used by Lender In connection wlth thls Ioan, unless applicable law provldos othenvise. Unless nn agreement Is made or
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<br /> .. f. •. appllcable law requlres Interest to be pafd, Lender shall not be requlred to pay Borco�ver any Interest or eamings an the Funds.
<br /> ' � Borrower and Lender may agree In writing, however, that Interest shall be pald on the Funds. Lender shall fllve to Bortower,
<br /> ; »�(-` without ohsrge, nn ennual accounting ot the Funds, showing crodits and debits to the Funds and the purpose for whlch eACh �u •-
<br /> debit to thE Fundo was made. 1'he Funds are pledged as additionel security for all sums secured by the Securlty Instn�ment. -�
<br /> ... � If the Funds hEld by Lender exceed the amounts pertnitted to be held by applloablo Isw, Lender shall account to Borrower �;.��,-
<br /> • for the exceas Funds In accordanca wlth the requlrements of appllcable law. If the amount oi the Funds held by Lender et any �,----
<br /> . � ,�' . tlm�Is not sutticlent to pay tho Escrow items when due, Lender mey so notlly Borrower In wrlting,and, In such case 8orrower �
<br /> �U'�` , shall pay to Lender the arnount necessary to rnnke up the deflclency. Bortower shall make up the deficlency In no more than
<br /> :� iweNe monthy payments,at Lender's sole dlacretlon.
<br /> . _.__' '_ i ' ' a"� a � etiio a.����w !r,at��mant: Lender shall promathr ra(und to Borrower any Funds `!�
<br /> . I.Jpon (J6ymvna m U�I �� ^n 'uii� S^.r:s�.. ..; ...... _.
<br /> � hald by Londer. H, under paragreph 21, Londer shall scquire or sell the Property. Lender, prfor to the acquisftion or sale o1 tho
<br /> . Property,shall apply eny Funde held by Lender at the tlme ot acqulsftlon or sale as a credit against the sums oecurad by thls ��
<br /> . Securfty Instrument. -
<br /> 3. Applieatlon of Payments. Uniess appilcabto la�v provides othenvlso, all payments received by Lender under
<br /> , paragraphs 1 and 2 ahall be applled: ilrst, to any prepayment charges due under tho Note; second,to amounts payable under
<br /> , peregraph 2:ihlyd, to Interest due; touRh,to princlpal due; and last,to any late charges due under the Note.
<br /> ' 4. Cherges; LIOt18. Bonewer shall pny all teuces, assessments, charges, flnes end impositlone attrtbuteble to the
<br /> , • Property whlch may attaln prloriiy over thls 3ecurity Instn�ment, end leasehold payments or ground rents, Ii any. Bonower shall
<br /> '^' � ' pay thoso obllgatlons In the manner provlded In peragraph 2. or II not pald In thet manner, Borrower ehall pny them on tfine
<br /> - --_-- ���a�y to !h:pe��^ ^wed prymp�t. Borrower ahull promptly tumish to Lender all notices of emounts to bo pald under thls _
<br /> ; •� parapraph. If Borrower makes these paymente dlrectty, Borrower shall promptly turnlsh ta Lentler recelpts eviaencing ii�n
<br /> � � paymente. —
<br />'''"°°=� =�'� Borruwcr shall promptiy dischargo any Ilen which has pdoHry ovor this Securlty Instrument untess Borrawer. (a) sgreeu In
<br />_;.,��u=_�t": , wdting ta the payment of the obligstlon secured by the Ilen in a menner accoptsble to Lender, (b) contests in good lafth the ���
<br /> .,;��_i�_��� Ilen by, or detenda egalnst entorcement ot the Ilen m, legal proceedlnps whlch In tho Lender's opinlon oparate to prevent 4he
<br /> _-=�7�� enforcemont o1 the Iien; or(o) securea from ihe holder o}the lien an agroement satistactory to Lender subordlnnting Ehe Ilen to
<br /> � =_-.;.�,,,,�,�, thls Secudty Instrument.It Lender determines that any part ol tho Properry Is subJect to e ilen vrhicit may wtteln pdodty over thls
<br /> ---rJ'�n 8ecurty Instmmant, Lender rnay give Borrower e notice Idontitying the Ilen. Borrower shall satisty the Ilen or tako ono or moro of
<br /> '''-;'Si . the ectlons set forth a6ove wkhin 10 days of the glving o1 notice.
<br /> �-�'�'c',� b. Haxard or P�op�rty Insurance. Borrower shall keep the improvements now existing or hereatter erac4ed on tho = ___
<br /> .` °`"'" Property insured Agelnst loss by tire, Nezards Included withln the term "extended coverage' and eny other hazards, Including
<br /> _.=M;=q.
<br /> n--�="'� tloods or floodinp, tor whlch Lender requlres Insurence. Thls Insurence shall be malntained In tno amounta and tor tho periods
<br /> :-L._:,.�_
<br /> -;�:;�_�_. thet Lender requlres. The Insurance carrler provlding tho insuranco ahall be chosen by Boaower subJoat to Lender's epproval
<br /> ---����'� which ehall not be unreasonably wlthhotd. ii Bortowor fuNs to malntaln covemflo doscrihad above, Londer may, at Lender's
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<br /> .�...���- opUon,obtaln coverege to protect Lenders righta In the Property In accordance wlth paregmph 7.
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<br /> �-`'••' All In�uranco polloles and renowt►Is shnll be accepts4le to Lerder and shall Include e standerd mortgaga clause. Lendor
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<br /> :��r.___�- shall havo the dght to hold the policlos and renowais. If Lender raqulros, BoROwer shall promptty glve to Lender ell recelpts ot
<br /> =�f<�• .�x pald premiums and renevral notices. In tho event ot loss, Borrov�er ehsll give prompt notice to tho insurance curtler and Lender, _
<br /> ' . Lender may make proof of losa It not made promptly by Bortower. __M�__._
<br /> • ' Unloss Lender and Borrower otherwlse agraa In writing, insurunce proceeds shall bo epplied to restoratlon or repnir of tho ---.,�-
<br /> . . Property damagod, il the restoratlon or repalr Is economlcully feasible and Lender's secudty (s not lossenod. If the rontoretlon or �';=�=""
<br /> repalr Is not economically teasiblo or Lenders socurity wouid be los�oned,tho Insurance proceads shall be eppilod to tho sums ■---- -- -
<br /> F-_� ----
<br /> secured by ihls Socurlry Instrument, whether or not then duo, with nny excess pald to Bortower. If Borrower abandons the �-_
<br /> � ��•_'__'=��.:
<br /> � • Property, or does not enswer withln 30 days a notice hom Lender thnt tha Insurence cartler has oftered to sottlo a clalm, then - -_____
<br /> + Lender may colloct the Insurnnco proceeds. Lender may uso the proceeds to ropalr or restore the Property or to pay suens ��,;;.;,;_,-
<br /> ' � • socurcd by thls Securtry Instniment,whether or not then due. The 30•dny perlod will begln when tho notice Is given. ���"'-_ -
<br /> : i, t Unless Lender and Bortower othervvlse agree In wdtlng, eny npplicatlan ot procaeds to pdndpul shall not extend or �'���'';;-
<br /> . # postpone the due date of the monthly payments reterred to In paregraphs 1 end Z or chango tho nmount of tho payments. If ;_r;;�.;,rj_
<br /> . , under paragmph 21 tho Properry is acqulrad by Lender, Bortower's rlght to any Insurence pollcles and proceeds rasulting from _ __
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<br /> ' �- dnmage to ihe Property prfor ta the acqulsltlon shell pass to Lender to the extent of tha sums by thls Sacuriiy Instrument ' .-
<br /> � ' Immedlatety prior to the acquismon. �-�-�
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<br /> 6. Accupency, Pres�rvatlon, Mafntonanco a,nd Protvction of the Property; Borrower's Loan .
<br /> A�lpllCatlOn; I�SSehOlde. Bortower shall occupy, establish, end use the Property as Dorrower's princlpal resldanco within
<br /> � 81)d)/ dAy3 after the executlon ot thls Secu�ity Instrument and shell continuo to occupy the Property ns Borrower's principnl �
<br /> rosldence for at least ono year ofter tho duto ot occupancy, unlsss Lender othenviso agroes In writing, which consent shell not
<br /> � ,_ be unreasonably withheld, or unless oxtenuating circumstancos oxist wlilch aro beyond Borrower's control. Bonower shall nnt
<br /> � . • destroy, damage or Impeir tho Property, ellow tho Property to deterioretu, or commit waste on the Property. 9oROwer shall be in
<br /> � , default B any forfeiture uctlon or proceeding, whether clvll or criminAl,Is begun that in Lender's good tafth Judgment could reault
<br /> � �� ' In forfaiturm of ihe Property or otherwiso materlolly Impefr tho Ilen creatod by this Security Instrument or Lender's security Interest.
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