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<br /> , � ' TOGETHffi WtTH a11 the hnArovemerrts now or hereafter erected an the pmperty, and ell easemants. e9Purtenances.and `` �.�� "
<br /> � , . � foctures now or hereafter a part of the property.M replacements and additions shall aiso be cavered hy this Secur�tY t^st�ument- _
<br /> � ` • All of tha toregoing is reterred to in thls Securityr Instrumant as the Rropmty' `
<br /> � � � � BORROWER COVEiVAN'fS that 8ortawer is IawWlry seaed of the estate he►ebY convsyed and has the right to grant end� _.,r`�
<br /> � � �; convey the Property and that the ProD�Y �S unencumhered exeept tar encumbrances of�ecerd Barrower warrants aad wiU� �, ` :'�:.
<br /> QetenO generalry the t�le to the ProPeRy e9�inst e0 c�eims end demands.subjeet to any encumb►ances of tecord. " _.t:���
<br /> • � THIS SECUFIITY INSTRUMENT comDines uni[orm covenents for n8tional use and nOrwndortn COVenants with fanited � . , ,�
<br /> variations by jurts6ktion to const�ute a un�orm security insuurt►snt covering reat ProPertY• � , � `:`
<br /> �' � � UN►FORM COVENAMS. Borrovrer and Lendsr eovenant and egres as toltows: ^% � �
<br /> ` � � � t. PaymQat of PNncipal and tntereat; Pirepeyment and late Cha�Ses.aor�owe�snan ptampuy aay omer�, ,
<br /> ' � due the principai of and interest on ihe debt ev[denced by the Note and any preAe1rment and lafe charges du@ under fhe Note. � : , ,
<br /> � 2. Funds tor T�es and Insurance.Subject to apPtica4te taw or to e wr�t6n waiver by lender.8orrower shsll pay ,.
<br /> � � to isnder on tAe daY monttiy payments are due under the Nate,untl the Note is patd in(u4 a sum('Funds°)tor. (a)yearty� .
<br /> taxes and assessmentS �vhtch may atffitn P�oM1l a�er tAis Secu"�Y tnstr�ment as a Gen on the PropeRy: (b) YcertY leasehatd �
<br /> "t`' . ., payments or ground renLS On the PrODeftY� �any; (al Ye�Y ha�ard or propeRy u►surance premfums: (d)YeartY flood insurance _y `. 4. .
<br /> premums,d any;(e)yearty mnRgage insuranCe premiums.�any;end(fl enY 5ums payable by 8a►mtiver to Lender u►sccordarsce _
<br /> s ' , , wiih the provisions of para�aph 8, in tieu of the payment of moRgage insurance prem�ms. These i�ms e�e c�d ��W
<br /> Items' Lender may, at any time,coUect and hold Funds in an emount not to exceed the max�um amount a tender for a
<br /> federaty related moRgage laan may requfi'e for Borrowers escrow account under the fadera�Rea� Estate Settlement Procedures : _ ,. .
<br /> "� Act ot 1974 as emandeC from tiune to time. 12 US.C.�260t et seq• ('FiESPA"?. uniess another law that appfies to the Funds �._; _.
<br /> ' sets a tesssr amoun� If so.LenQer may,at any tune, coUect end hotd�unds in an amount not 4o exceed the Iesser emount --- ,�-
<br /> ;�: Lender may estimate the amount of Ponds Que on the basis of current data end ressonabte estbnates ot expentldu�es of(uture � . �r��.
<br /> R • - � Escrow Items or otAerwise 6�aa:ordanCe with appffcabie law. ..�,��:�;_;
<br />"° The Funds shall be held in an inst�uUon whose deposils are insu�ed by a tederai agency,instrumeet�ityr.or entny(mciud+ng ;:�. �
<br /> ' Lender, it lender is such an inst�tuUon)or tn any Fflderal Home Loan Bank. Lender shaU appty the Wnds to pay the Escrow °-��--:'-''`
<br /> _ . ,` ,� Items.Lender may not cherge Bortower for hotd'ng end apptying the Funds,annualiyr anary�9��w account, or veMying ��^�``
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<br /> tt�g Escrow ftems, un►ess Lender pays Borrower interest on the Funds end appiicahte law pertn�ts Lender to make sucfi a
<br /> ' ' � cdarge. Hovrever. Lender may requue Borrawer to pay a oneitme char8e tor an independent real estate t�c reAurtin9 service �. —
<br /> ' � " used by lender in connection w�h thts ioan, untess appficabte law provides otherwise. Un►ess an a9reerneirt Ls made o� ' .::.
<br />�'� � . ti , ePPlicable law requiras Interest to be patd.Lender shaU not be required to pay Bartower any fnterest or eamings on Me Funds. ,
<br />:s . ' Bortower and lender may agres in writfi9. howaver, that interesl shall he paid on the Funds. Lender shall gNe m Bartower, ! __�--
<br /> � without charge, an annual accounUng of the FunCs, showmg credns and Qeb�ts to the Funds and the purpose tor which each . ��,.�,_
<br /> ;,. .. . . - dabd to the Funds was made, l?te Funds are piedged as add�tlonai securfty for sA sums secuted by the Security Instrument. �
<br /> ' If the Funds held by LenQer woceed the amourits pemidted to 6e hetd by ap��bie Faw.Lertder shall account to Bortower �..::��,;"�
<br /> for the exc�ss Funds in accardance with the requirements of appficabte taw. !f the amount of the Funds hetd by Lender at any .-' s='�
<br /> • � ��.:
<br /> .:� � time is not sufficient to pay the Escrow Items when due.Lender may so notity Borrower in wraing,and.in such case Bortower ,
<br /> �,, . : ; � shaU pay to Lender the amount necessary to meke up the deflciency. Borrower shall make up the deficiency in no more than �' �� r
<br /> � r ' tweN9 monthly payments,at Landers sole discreNOn. � �-
<br /> � -. ' ' . "� Upon payment o�bi!ot afi sums seceired by this Security InsUument,Lender shaU promptty retund to Borrower any Funds � '
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<br /> � h810 by Lender. if,under paragraph 21.Lender sha0 acquce or se0 the Property,Lertder,prior t0 the acquisitlon or saie of the � ."�-j�,=
<br /> � Property.shalF appy any Funds held by Lender at the thne of acquisition or saie as a cred'R aga6►st the sums secured by tfits ��i_;_'
<br /> `� . Secu(ity Instrument ,.��}���
<br /> ` 3. Applicatfon ot Paymenta un►ess aovucao�e �aw provides oMerw(se, atl payments teceive0 by Lender under i�
<br /> r, , , l paragraphs t and 2 shaU be appiied: flrst,to any prepayment charges due unQer the Note;sBCOnQ to emounts peyebl9 urtder ' =.�.�,
<br /> � paragreph 2;th�d,to mterest due;tourth.to prmcipai due;and 41st,to any Iate charges due under the Note.
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<br /> • 4. Charges; uena sorrower shall pay all te�ces. assessments, charges, fines and impos�ions atlnbuffibie to the .,.,�y�:..
<br /> . ' ,. � PrapeRy which may atffiin pdoriry over this SecurRy Instrument,and leasehold payrsienfs or ground rents,H any. BorrOwer shail � w� :�
<br /> � pay tAese obligatians � the manner prwided In paragraph 2, or it oot paid in tt�at mannar, 8orrower shall pay them on tfine ;.°•�",
<br /> � � directly to the petson owed paymen� 8orrower sha0 promptty fumish to Lender all noUces ot emounts to be peid under thts �:,�
<br /> � ,+`r� paragraph. 1f Horrower makes thase paymenu d'Qecthr, Borrower shail promDUyr fumish to LenQer reeeipts evtdencing the � ' .,�����_
<br /> . . � payments. ..•��.,-,
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<br /> � Bortower shall prompty discharge any lien which has priority over this Security Instrument unlass Boaower. (a)agrees fn -._y
<br /> � vnipng to the payment of the obligatian secured by the lien in a manner acceptabie to iender, (b)contests En good fa'sth the ' '-?�''.-
<br /> � � Iten by, or defends agaNst entorcement of the Gen in. legal proceedings which in the Lenders opinlon operate to prevent the ����'`�
<br /> �� enforcement of the lien;ot(c)securas from the hoidar of the lien an a�eement satistectory to Lender subordinating the Ben to • i�
<br /> this Security Instrumen�if lender determines that any part of the Properly is subject to e Iten whkh may attaln priority over this �:,r=�W_
<br /> � Security Instrument,Leader rtray give Borrower e noUce identirying tAe Iten.Borrowet shall satisty the Gen or take orFe or morB of •� � �:��-,
<br /> '� `- � the actlans set 1oRh above wRhin 10 days o}the gNing ot notiCe. . ` ""�',��
<br /> � , 5. H8Z8Td or Property Insurance.Borrower Sh811 keep the trnprovement5 now existing Or hete8ftet eteeted On the ;;"'.;--
<br /> Property Hsured against loss by fire. hazards mcNded wRhin the tertn'extended covarage" and eny other herards,includhsg , •
<br /> _:���, � • HooQS or floodtng.tor whbh Lender requaes insurance. This insurance shail be malntained in the amounts and for the perlods ••
<br /> .''° • that Lender requires. The insurenCe Carrier provitling the insurance sha0 be chosen by BortowBr subjeCt to Lenders eppravat �.''•,.
<br /> ' ' whkh Shail not Ce unreasonabry wRhheld. If Bonawer fa1s to malntaEn coverage descrbed above,LenQer may. at Lenders . :� 7.
<br /> - aption,obtain coverage to protect Lenders rlghts in the Property in accordance with paragrepb 7• r
<br /> � • ' Ail fisurance policles and renewats shall be acceptabfe to Lender an� shati inctude a standard mortgage ctausa Lender _
<br /> � � � shatl have the right to hotd the poik�es and renewals. If Lender requires,Bonower shatl promptly ghre to Lender all receipts of _ •,': .
<br />�`,_�'t � `. peid premiums and renew8l nofices. In the event Of toss,Bortower shall ghle prompt notice to the Insurance cetrler end I.Hnde�.
<br /> Lender may make proof of Ioss if not made promptty by Bonower. .
<br /> ::..� . UNess Lender and Bortower otherwise acgee in wrRing, insurance proceeds she11 be applied to restoratian or repa6'of the ;
<br /> ' Property damaged, H the restoratlon or repair �s economkaliy teasibte and Lenders security is nat Iessened.it the restoration or
<br />- repair is not econom�alry feasibte ot Lender's securityr would be lsssened,the insurance proceeds shail be applied to the sums ,
<br />, ., I secured by this Security Instrument, whether or not then due, with any eucess pafd to Bortowar. If BoROwer abandons the , ,
<br /> Property.or does not answer withm 30 days e notiCe hom Lender that the insuranCe csrtier has oNered to settle a Ciatrn. then
<br /> • � Lender may coliect the insurance proceeds. Lender may use the procee6s to repatr or restore the PropeRy or to pay 5ums
<br /> , � seCUretl by this Security InsWment,whether or not then Que. The 34day perioC witl begln when the notice Is given. •�
<br /> � � � Untess Lender and Bonower otherwise agsea in writfig, any application of proceeds to prinCipal sh811 not extend or
<br /> _�',; � postpone the due date of the monthly payments referred to In paragraphs t and 2 or change the amount o}the peyments. if
<br /> under paragraph 21 the Property is aequired by Lender, Bortower's rignt to any insurance policles and proceeds resulting from
<br /> '��' � dSmage to the Property prior to the acquisftion Shall pass to Lender to the extent o}the sums by this SeCUrity fnstrument
<br /> immed3atety prior to ihe acquisiiton.
<br /> � 6. Occupancy, PreservaUon, Maintenance and Protection of the Property; Barrower's Loan
<br /> , � . j Appiicetiotl; Leaseholds.Borrower sna�occupy,estabnsn, and use the Property as Bortower's principal residence wfthin
<br /> • sbRy days atter the execution of this Security Instrument and shatl continue to accupy the PropeAy as Borrower's principal .
<br /> • • reSide�ce}or 8t leeSt One y08r 8fter the date ot oCCUpBnCy.unles9 Len09► otherwise 8gr80s in wriqng, whiCh ConSBnt Shail not .
<br /> � ' � be unreasonably withhald,or unless eMenuating c'ucumstances exist wh�h are beyond Bonowars conVOl. 8onower shatl not
<br /> destroy,damage or impair the Property, allow thA Property to deteriarate,or commit v�asta on the Property. Bortower shall be in
<br /> � � de(auft i�any torteiture actlon or proceed�nfl• whether civit or cnminal. is begun thet in Lender's good{eith Judgment could result
<br /> in forteiture ot the Property or othanvise ma2ermlly impair the lien created by thls SecurAy Instrument or Lender's security interest.
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