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<br />- _ ,� `� � mp�ETHEp WtTFI e11 the improverrtems nov+ or hereelter erected on Me property. and a�t easements. epPuRenances.and ; ` . -. ,.
<br /> ", • t�duras now or hereaRer a past of the propeltY•AU rePiacements end addittons sha0 afso be cavered Dy thls SecurBy Insuument `_ • �„��•
<br /> � ; All ot the tore8ofng is reter�ed to in this Secur3Y tnswment as the'Property.' `' : ` .
<br /> BOfWOWHi COYENANTS that Bortower R� Iawtuny seised of the estate hereby conveyed and has the�ht to �ant end ;
<br /> .. - • eom,ey the Property end that the P:opm�lyy La unencumDered. exeept for eneumbrances of reeord. 8ortower werra�+b and w� � _ . _y
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<br /> ' Qetend gsnera�y tha taie to Me Properry agalnst aU cFahns end demands.subject to any aneumbranees of recarC. � .
<br /> THiS SE�URRY INSTRUMENT comDfnes unHortn coven�ts tor nattonai use end nart-unBarm covenaMS s++fth ttm@ad , _ -•
<br /> vartattans Cy jurtsdicdan to constaute a un�orm seeuriry inswrtcer►t cavec7ng real ProAerh�• , .. .
<br /> ° UNfPORM COVENANTS. Borrower and Lereder Cmrenent end a�ee as fofiows: � - �
<br /> � < 1.Paymen4 of Princtpal and Interest; Pr�Payment end Lete Ch&rges.eoaower shau grampuy aeY Whe�; �
<br /> dua the principffi ot and�terest on tAe debt ev(denced by the Nate and any preRaYmen!and tate charges due under the NOte.� • r�a � � A .
<br /> ' 2.Funds br Texes sn� tnsueance.Slibject to eppGeahle law or fo a wr3Gen weNer by Lender.Bortowar shall . .,,
<br /> . .� � to LenQer on the day monthiy payments are due under the Note, u�U1 the Note is peld 'u�fu0.a sum ('Funds'1 for. (a) '..�. `
<br /> � - =" te�s and essessments which may attatn Orior�Y over this SeCU�tY Instrument 6S a Iien on the Properly: (b) YeedY Ie9seho .
<br />- _---"�-.- payments or ground renls on the ProDertY.U eny; (o) YeartY hez8rd or property tnsurance premiums� (d)Y e a r N flood msuran - -c - _-
<br /> premiums.if any:(e)YesAY moRga88 insu�ance premiums.B any�end(�Hny sums PSYab4�by Borrower to LenQe►(n HCCOtdettae .
<br /> ' • wnh tAe provisions ot paragraph 8.In Geu ot the payment ot mortgaga tr�surenee p�emiums. These items are ce0ad'Escrow - .
<br /> ` Items' Lsnder may,at enY time.ca0ect a�d hotd Funds (n an ama�u►! not t� exceed the maxUnum emount a Iender Mr a ;
<br /> � � • federa0y retafed mortgage Iaen may reQu've for Bortowers escmw account under the federal Reat Estate Settfement Procedures ' .
<br /> ' ` Act af 1974 as em�Qed from time w ttme,12 US.C.�2601 et seq. ('RESPA'?. unfess another t�W that appfies to the Funds .
<br /> ' • sets e tesser amount 8 so,Lender may,at erry titne. coL'�t end hold Funds in an amount not to exeeed the lesser amounL k � `.�r,.
<br /> � I.ender may estimate the amount of Funds due on the basis of curtent d�ta and reasonabis esUmsfes of expenddures of Mure .. ,
<br /> ` Escrow Items or othemise tn aceardence w�h syplh:abia law. .� ;, <
<br /> � � The Funds shait be hetd tn en instftutton whose deposfts ere insured by a tederal agency.fistrumenffiay.or entity(inctuGing • �._•.
<br /> Lender,it Lender is such an instBuHon)or in any Federal Ftome Loan Benk. I.ender shaU aPph the Funds to pay the Escrow � ..•
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<br /> ' Items.Lendet may not charge Borrower for hoidtng and epptymg the Funds,annuaity enatysfig th9 escrow eccount, or vefdyUg ,
<br /> � the Escrow [te�ns. untess Lender pays 8orrower mterest on tAe Funds and appOCebfe law perm�s tsnder to make `such a `' �h
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<br /> ` � charge. However. Lender may teQulre Borrower to pay e onetime charge (or en independent real estate ta�c reportmg service � .,' ;,
<br /> � , used by Lender in connectfon wftA this [oan. uniess appitcabte faw provtdes othervvise. Unless an aSreement fs made or �. ��-
<br /> � eApttcabte law�equtres intBrest to be pa1d.Lender shal!not be required to psY Barrower sny t�terest or eamings on the Funds. ;-. F::::
<br /> ' Bocrower end Lender may agree in wrt1fi9, howeve, that mterest ShaU be pafd on the �unds. Lertde►sha0 ghre to Borrower. �"�''-�
<br /> . `. ..,:•::�_:
<br /> wfthout eherge,an annuat eecounUng of Mo Ponds.showing credks and debds to ffie Fvnds and the purposa Por wAfch each _ ;---�--
<br /> l � debit to the Funds was made. The Funds are pfedged as aQd�fonaf securfty tot atl sums secureQ by the Securdy tnstrumant . ��,���=�°_:
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<br /> ' � If the Funds hetd by Lender exceed the amounts pertnilted to be hetd by appUcabfe law,Lendet shall accaunt to Bortower -- ` ��••. -,�
<br /> ��` tar the ezcess Funds tn accordance wah fhe requUemenb o1 eppticabie taw.If the amount of t4ie Funds hetd by Lendsr at eny • �-�-
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<br /> � � " Ume is not suHlcient to pey the Escrow ltems when due.lender may so notdy 8orrower in+�r�in9�end,in such case Bortower •,� • .��; r�.�,:
<br /> }' � � shaU pay to Lender the emount necessary to make up the defieiency. Borrower sheit make up the deflcfency m no more than t.:., ':.�, _
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<br /> •��" twetve moMhy payments�at I.enders sol�discreUon. - : -- �
<br /> Upon payment in futl of sil sums secured by tfiis Security MsUUment,LenQer ehafl promptfy tefund to Borrovrer eny Funds , �.(�:�;�•�_
<br /> held by Lender. If.under para�aph 21.Lender shall acqulre or seU the Property.Lender,pdor to the acquisftlon or sat�of the � =a ._
<br /> ?t � � ptGpeRy�sha11 ap91y any Funds held by Lender at the tima of acquisftion cr sala as a credt against the sums secured by this • `;'iL��
<br /> • SeCUr4y Insbrumen� � -�—
<br /> 3. Appllt�tton of Raymenta v��ess appitcat,� �w provides otherwise, eD payments recelved by Lender under �• � ' " -
<br /> . paragraphs 1 artd 2 sha0 be appfied: flrst,to eny prepaymast cfiarges due under the Not�secon0,to amounts payab�under
<br /> � ' • paragrap0�thtrd,to interest due;fourth,to prtr�ctpal due;an�tast.to any fate charges dua under th0 Note. �, ;:�p�
<br /> �+ � 4. Ch8fg88; Li8ft8. Bortower sha6 pay a0 taxes. essessments, charges, ftnes and imyosiNons attrmutable to the �•�.,.,
<br /> Property which may attein priort'ty over this Seeurfty Insuument,end teaset+old payrpents or g�und renta,if any. Borrower shatl � '^'�
<br /> , � pay these obiigation9 in the manner provided in paragraph 2,or ff not�id in that manner, Borrower shail pay them on tU�ne • ---
<br /> dUecty to tha person owed paymenL Bortawer shalt prompty tumish to LenQer sU noUces ot amounts to be p9id under thls ����-=-�
<br /> _. • �! paragraph. I} Borrower makes these payments directhr, Borcower shall promptry fumtsh to Lender receipts evtdencing tDe - `�
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<br /> Borrower shall prompty discharge any Ilen whkh hes prlariry over this Securiry Instrument unless Borrowec (e)egtees in �'-�;�;,,f�,
<br /> � writing to the payment of the obligation securod by the Gen in a manner acceA�►e W Lender, (b) confests tn good fatth the ��~�••
<br /> �.� lien by. or defenQs agah�st enforcement ot the tlen rt�, legal proceedings whkh in the LenQers opinton operate to prevent the • ����
<br /> �"- — - --- enforcament of the Cen;or(c}secures itam the holder of the Uen an agn.ement satisfactory tn Lender su6ordfiating the liet►to __ _ -_y_r.
<br /> .r� this Secufity tnstrumen�If Lender detertnines that any Dert of the Property b subject to a Gen which may attain prtorily avet this -,�=
<br /> Secufity InsWmen�Lender may give Borrower a notice identi.`ytng the Iten. Borrower shall satisty the(tert or tafce one or more of ' ��r�'�•
<br /> ' the acttons set torth above wfth� t0 days of the ghrtng of�a:a�. •- - �`
<br />, � b. H8Z8fl9 or Property insurartce. Bonower shall kesD the Improvements now existing or hereafter erected on the ..�
<br /> `: PropeAy tnsured agatr�st foss by fue, harards Included within the tertn "e�aended coverage" and eny other hamrds, inch�d(ng ,,
<br /> � '. iloods or tlooding,1or which Lertder requUes u+surance. This insurance sl+all be maintafied in the amounts end for the pertoda : . ,
<br /> � that lender requUes. The tnsurance cart�er provld(ng the insurance shall be chosen by Borrower subject to Lenders aDprovel . -
<br /> �� ' • which shail not be unreasonab.y withheid. If Borrower fafls to maintaln coverage descr�bed above,Lender may. at Lendera .
<br /> option, obtatn coverage to proteat LenQOra rights In the Property in accordance wrth par�gaph 7. • . .
<br /> ,'r�. • All tnsurance pnlicies end renewals sha11 be acceptab(e to lender and shall include a standard moRgage Ctause. Lender � • .
<br /> shall have t�e right to hold the poAcies and rsnewais. M Lender requEres. Bortower shatl promptty ghre to Lender aIi reeeipts of _
<br /> �` � paid premiums and renewal notbes. M the event of toss, Borrower shal!give prompt nottce to tha Insurance cartter and Lender. � . . ,
<br /> � Lender may make proof of loss M not made prompty by Borrower. • .
<br /> �: Untess Lender end Borrower otherwise agree in wr�ln8� msurance Droceeds shail be applied to restotation or repa'u of the •
<br /> ` PropeRy damaged.H the restoratlon or repaU is economlcalty feasmle end Lenaers securRy is not fessened.tf the �estoraUon or . � �
<br /> � repaY is not economically feasd�te or Lendefs securiry woutd be lessened,the insurance proceeCs shall be applted to tne Sums
<br /> secured by thts SeCUrity Instrument, whether o► not then due, wiih eny eucess pald to BoROwer. I}Bortower abandons the ;
<br /> PropeRy,or does not answer within 30 days a not�e lrom lender that the insurance cartier has oftered to sattt9 a cialm,then , .
<br /> � LenQer may collect the insurance proceeds. Lender may use the proceeds to repab or restore the Property or to pay sums ,
<br /> . secured by this Security Inatrument,whether or not then due. The 30�daY Period will begin when ing noUce Is glvan. '
<br /> � � Untess Lender and Borrower othenvise agree in writfig, any applicaUon of proceeQs to pMCipal shall not extend or • .
<br /> postpone the Que Qate ot the monthly payments reterred to in paragraphs t and 2 or change the amount o}the payments. II
<br /> . • under peragrapb 21 the Propety is aCqulred by Lender, 8ortowePs rlgh! to any Insurance polictes and proCeeQs �esuiNng fram .•
<br /> . • ' demege to the PropeAy prior to the acqutsitlon shall pass to Lender to the eMent o}the sums by thls Secur%cy Instrument .
<br /> • Immedlatety pdar to the acquisition. � �
<br /> j 6. Oceupancy, Preservation, M�lntenance and ProtecUon o4 tha Property; Borrower'a Loan
<br /> ' � ApplicaUon; L@BSBhOld9. Bortower shall ocCUpy,es2ablish, and use ths Property a9 Bortowets prinCipat residenCe within ,
<br /> • ' SbRy deys after the executton ot ihis Security instrument and shail continue to ocCUpy the Property as Borrower's prfiCipai ,
<br /> residence tor at leas! one year after the date of accupency,unless Lender oth6nxise agrees In wriNng,whieh consent sAatl nol
<br /> � be unreasonably wrthhetd,or untess extenuating circumstences exist which ere beyond Borrower's control. Bortower shall not �
<br /> ' destiroy,damage or impafr the Property, allow the Property to deteriorate, or cammd waste on the Property.8ortower shall be �n �
<br /> ��� detault i1 any IoAeilure actian or proceeding, wheth9r c�il or crimtnal,is begun that�n Lenders good tailh juQgment coutd resutt �
<br /> • ir1 f0lfAitur6 of th9 PfOpBfty Ot 0lhBfwi59 mBteNHI1y imp87 th8��0n CM1?atBA by thiS$6CUrity InSNUtT18nt Ot L0nd9fS SBCUtdy ir1I9t8St.
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