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<br /> - TOGETIIER WITH all the Impmvements now ar hereafter erected an the ro e and all easements, appurtenances, and �` � �•�'�`
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<br /> fndures now or Aereafter a part of the property_AU replacgnents and eddiUons shall elso 6e cavered by this Socurity Instrument.
<br /> . , 1 Al!ot the loregaing is reterted to in this Secur[ry Instrument es the'Properry.' <
<br /> . ,, BORRONIEA COV�NAMS that Bortow� is IawtuUy seized o!the estate hereby conveyed and has the �Ight to grant and ` .
<br /> ; � 1 � comey the Properry and that tlie Properry is uneoeumbered. except far encumbrances of record. Bortower wartants and will� _ � , 4�..
<br /> , • f,,� d�end generaly ihe titla to the Property against aU daims and demands,subject to any encumbrances of record. � .
<br /> THiS SECURITY INSTRUMEfiIT eombines nnitorm covenarts for natiortat use snd norwrtitorm wvenartts with IimRed � t,
<br /> variaUons by Jurisdidion to constitute a unffortn seairity instrumerrt eover(ng real praperty. �
<br /> � UNlFORM COVENAlVT3. Bortower and Lender eovenant and agree as toUows: �
<br /> . . � ` ,� 1. P$yment M Rrincipal and Intorest; Prepayrrtent artd Late CPiargea eorrower snau Prompfty pay when � `t' � �
<br /> � '� Y , due the prindpa!ot and interest on the deDt ev[dented by the Note end any prepayment and Iste cheryes due under the Note. � •
<br /> • � '. � 2. Funds for T�s a�d tnsuranee.Subjeet to epplicable Iaw or to a wtitte�waiver by lender.Bortower sha0 pay � s° .
<br /> • to Lender on tha day monthly peymems ere due under the iVote. unU7 the IJote is paid in tult,a sum ('Funds')4or. (a)yearty � - � `�"
<br /> . � �, t� �
<br /> ` ' _ taxes and assessmerrts which may attain prioriry over thb Sewrity insbument as a Uen pn the Properiy; (b) yearty teasehold � u
<br /> - payments cr growd rents on the Properry.It any. (c) yearty harard or praperty insurance premlums: (� yearly flood insurance
<br /> ' •�`<y.`- p��• ��Y.(B) Y�N mortgage insurance premiums.if any:and(i�any sums payai�le by Bortower to Lender in aceordance _ ,
<br /> , -- -- - -- - with the pmvls�ons ot para�aph 8. in Ueu of the paymient of mortgage insuranes prerniums. These ifems are called 'Esaow -_.. -�y- :
<br /> . , • Items.' Lender may,at eny Ume, eoUect and hold Funds in an amount not to exeeed the ma�dmum amount a lende�tor a
<br /> , tederahy refated maRgage toan may requUe for Borrower's eserow aeeount un�er the tedaal Real Esffite SeFtlemeni Procedures ,
<br /> - , �, Ad of 1974 as amended from time to time,12 U.S.C.�2601 et seq. ('RESPA'), uniess another Iaw that appfies to the Funds '
<br /> = � � . seis a lesser amount It so. Lender may, at any tfine, eo�ed and hotd Funds Fn an amount not to exceed the lesser amount ' ` �,
<br /> Lender may�ffie the amount of Funds due on the basis of wrrent data and reasonabie esUmates of expendrtures of tuwre . ' .�
<br /> - ' , .. Escxow ttems or othemise in accordence writh appGcabte Iaw. �"�
<br /> •" '� The Funds shat!be held in an instiUrtion whose deposits are insured by a tederal agency, fistrumental'dy,ar entity(Induding ' • �`�+ �
<br /> ` . �, � Lender, it Lender is sueh an institution)or in any Federal Home Loan Bank Lender shali appty the Funds to payr the Escrow � �, ' `�--"�:�-
<br /> ftems.Lender may not eharge Bortower for hotdmg end apptying the Funds,annuaQy analy�ing the estxow accauM,or veritying •°.- ,` . '-� -
<br /> , � the Escrow items. uniess Lender pays Bor►ower (nterest on ihe Funds end applieabte iaw permits Lender to make sacb a '��•
<br /> _ , charge. Ftowaver,Lender may require Borrower to pay a onefime charge for an (ndepe�dent real estate tax reporUng service � � •`��'
<br /> • ` used by Lender M connection wfth this loan, unless appGeable faw provldes othervvise. Uniess en agreem�►t is made o� �<�.�:.-
<br /> � • appGcable law requfres tnterest to be patd Lender sha0 nol be required to pay Borrower eny[nterast or eamings on the Funds. ' "'.� ��
<br /> Bnerower and Lender may agree in writfig, Pfoweve►, that tnterest shall be paid on the Funds. Lender shaU ghre to Bortower. • �':: :='�::
<br /> without charge, an annusl axounUng ot the Funds, shavMg aed'ds and de6lts to the Funds and the purposa tor which eaeh %"g-
<br /> debit to the Fands was made. The Funds are pledged as ad�donel security tor atl sums secured by the Security tnstrumertG , ',?#�
<br /> - _ If the Funds held by Lender exesed tfi�amounts permitt�d U4 be hetd by appOcabis law, Lender shaA account to Borrower . : �i-�
<br /> � . - tor tfie exeess Funds in aceordanoe with tha requfirements of appiicabie Iaw.N the amaurrt of the Funds held by Lertder at any ----�- �-:,�'��
<br /> • • :.: time is not sufident to pay the Escrow Items when due,lender may so notify Barrower in wriUng,and in such case 8orrower �;�=�-
<br />- . • shall pay to Lender the amourt neeessary to make up tfie deflciency. Borrower shail make up ffie defrdency M no more than ` `�
<br /> _ _'� ,.� tweMe monthy payments,at Lender's sole dis�xetlon. � ,.' �Y��.�y
<br /> _ [.:;���'�
<br /> :;;U Upon paymem in tull of ell sums secured by thfs Sewrity Instrument, Lender shall promptly retund to Bonower any Funds ' ,-r .�
<br /> '� ' ,`� hetd by Lender. II, under paragraph 21.tsnder shaU acqutre or seil Ne PropeRy. Lender,prtor to the acquis�lon or sate of the ' �, _
<br /> � Properry, shall appty any Funds held by Lender at the tfine ot aequisition or sate as a aedlt aga(nst the sums secured by this . k � :
<br /> Securiry Instrument �;. . -�:^-t=-;
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<br />_ 3. AppliCetlon of PBytRetlt9. Unless app(icable taw provides otherwise, a9 paymenta received by lender under .:��;;j?':•i�. :��;.
<br /> para�apAs 1 and 2 she11 be appiied: fbst,to any prepayment charges due under the Note: second,to amou�ts payrable under '•;���f•:��-
<br /> � . ' ��, para�apn 2;third to fiterest due:fouRh.to arincipal due;end last,to ar►y late charges due under the Nota ��''� �' ��''::,,-;�
<br />" � ..,; 4. Charge� Uena. eorrowe► st,an pay all taxes, assessments, charges, ftnes and tmposftions atkibutabte to the �� ����"•°-
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<br /> ��� . . Properry whid� may attain prloriry ove►this Security tnstrument,end leaseho(d paymertts ar ground�enis,if any. Bmrower shail . '.:�.t;:�'
<br /> � , • pay these obltgaUons in the menner provided in para�aph 2, or if not paid in that manner. 8orraw� sha0 pay th�n on time � . =
<br />- ! • direcdy to the person owed paymern. BoRawer shall promptry tumish to Lender ail noUces ot amounts to be paid under this � ',��
<br /> ; paragrapb. U Bortower makes these paymeats directly. Bortower sha11 promptiy tumish to Lertder receipts evtdencing the •- `;'�
<br /> payments. • `:`;-s`�
<br /> • ' � Borrower shaU prompUy discharge any lien which has prfority over this Securlty tnstrument untess Borrower. (a) agrees in ,��';�`�i'.
<br /> , ' wrtting to the paymenl ot the obligatlon Secured by the lien in a manner aaeptabie to Lender, (b) contests in good faith the ;` � ;�•;;
<br /> � fien by, or detends against enforcement of the fien tn, tegat proceedings which ln the lender's opinion operate to prevent ti�e . �•�:,�=
<br /> ' ' • r' entorcement of the Ilen; or(c) secures from the hoider oi the Gen an agreement satlsfactory to Lender subardinating tha Iten to
<br /> . this Secu Instrument.If Lender determines that en art of the Pro e is sub ect to a Ilen which ma attaln da • '��"
<br /> �Y Y P P � 1 Y P rlty over this : ,:�
<br />: . Securfly Instrument, Lender may gtve Bocrower a notice identirying the lien.Borrower shall satisty tha tien or take one or more of � �°
<br /> _ � the actlons set foAh ebove within 10 days of the g(ving of notice. • . �,.�. `'.?'
<br /> 5. HezBrd o�P►Opeit�InsurenCO.Borrower shall keep the improvements now exlsting or herea8er erected on the
<br /> . Property insured against loss by fire, hazards fnciuded wAhin the term •extended coverage' and any other hazards, including •
<br /> •: � . •..� floods or flood'mg,for which Lender re�hes insurence. This insurance shatl be mainteined In ihe amounts and fa►the periods � �
<br /> that Lender requlres. The insurance cartier providing the insurartce sfiall be chosen by Borrower subject to LertAer's approval
<br />- ; which sha(I not be unreasonably withheld. H Bortower faits to mairraln coverage described above. Lender may, at Lender's .. '
<br /> �) optlon,obfain coverage to protect Lenders rights in the Property in accordance with paragreph 7. . `
<br /> %'�'. �� • All lnsurance polides and renewats shall bo accepia6le to Lender and shall Inciude a standard mortgage Gause. lender • � '.. •
<br /> shall have the rlght to hotd the policies and renewals. Ii Lender requires, 8onower shali pror�pty give to Lender ell recelpts o} •
<br /> , pald premiums and renewal noUces. In the event oi loss,Borrower shall ghre prompt notice to the insurance qriier and Lender. � . •�• ,
<br /> �• Lender may make prool of loss N not made promptly by Bortower. • ' ,•
<br /> ' Untess Lender and Bortower atherwise agree in writing, insurance proceeds shall be apptied to restoratlon or repalr of the ' .
<br /> ' Property damaged,H the restoration or repair is economically feasibie an� Lender's secudty is not lessened. I1 the restoratlon or �
<br /> '. j • � repair Is not economical(y teastbte or Lender's secudty would be lessened.the insurance proeeeds shail be appUed to the suma
<br /> secured by this Security tnsVUment, whether or not then due, wfth any excess paid to Bortower. If Boaower abandons the � , ' .
<br /> � PropeAy, or does no!answer within 30 days a noUee from tender that the insurance carrier has oNered to settle a clalm, then � ��
<br /> � _ � Lender may wllect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums ,
<br /> • � . • secured by this Securriy Instrument,whether or not then due. The 30-day pedod will begin when the noNce Is glven. � .
<br /> Unless Lender and Borrower ofhenr4se agree in wming, any appilcation of proceeds to pdncipal shall not extend or _
<br /> . � " postpone the due date of the monthty payments retened to in paragraphs 1 and 2 or change the amouni ot the payments. ff � •
<br /> � under paracyaph 21 the Property is ecquired by Lender, Borrower's rtght to any insurance potlGes and proceeds resulBng from �
<br /> ( damage to the Property prier to the acquisition shail pass to Lender to the extent of the sums by this Security Instrument � � � .
<br /> i immediatety pdor to the acquisitlon. . ,
<br /> 8. Occupancy, Proservation. Maintenance and Protection of the Property; BorrowePa Loan (p
<br /> � • � Appilea4ion; L8as8hOld8. 8orcower shall occupy, eslabiish, and use the Property as Bonower's principa!residence within f� • �, .
<br /> � . sixty days after the execution of this Security Instrument a�d shall continue to occupy lhe Property as Borrower's princlpal � •
<br /> residence for at least one year after the date ot occupanGy, unless Lender othenvise agrees in writing, which consent shail not •
<br /> � ' be unreasonably withheld, or un►ess extenuating circumstances exist whtch are beyond Bonower s controt. Bortower shal�not
<br /> � destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on the Property. 8ottower shall be in .
<br /> detault H any}orfe�ure action or proceeding, whether civil or criminal, is begun ihat in Lender's good faith Judgment could resulf
<br /> ' in toAeiture of the Property or otherwlse materialty impair the lien created by ihls SocuHty Instrument or Lender's security interest. � �
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