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<br /> `� �., ': �, •{� TOG£TH�t WlTH all the 6nprovements now ar hece2fter erected an ttte P�P�Y.and e!I easements. ePPuRenances, and � - . �<: '
<br /> _ fudures now ar hereafter a part of the property.Ail replacements and adddtans shaD also be coveriad by this Securdy InsGumen�,
<br /> - An of the►oregomg is reterred to in this Seair�yr Insuument as the"Proparry.' • , • �
<br /> � BOAROW�i COVENANTS thst Bortower 15 Iawfuly seixed of th9 eslate hereby camreyed 9nd has MB right to grent and '
<br /> ` < � � convey the Property and that the Property is unencumbered, excapt iw encumbrances of recard. Borrower wanants and wiR � . i� •c,
<br /> . � , < detend generalty the fiUe to Me PropeRy against su elatrns and demartds,subJsct to any encumbranees ot reeord. •. ,_•
<br /> - - . THIS SECURi71f 111ISfRtJMENT combines uniform covenants tor nationsi use and non-ur►Jorm covenants wiih lun�ed � <
<br /> , . . var'rations by i�uisdictian to const�te a uc�om►security msVumarn cov�rh�g rea!properiy. � , - � <
<br /> .. UNIFORM COVENAMS. Bortower end Lender Covenant and 8 �'
<br /> g�ee ss foUows:
<br /> - .. 1. Payment ot Ririncipai and Interest; Prepayment and Late Chargea eorrawer snan vromvUr par wne�� ��- �.: � .
<br /> due the principai of and interest on the debt e�ridenced by the Rlate and eny pwpayment and tate cherges due under the Note. - " `
<br /> . �• � 2. �unds tor Taxes and Insur�nce.Slibj9Ct to 8pp6Cebte Iaw or t0 8 written ws.irer by lender,Borrower shell psy ,` ' ���.
<br /> -_ . ____-= to lender on tAe day monthty payments are due under the Nate, untii tha Note is pald in tnU,a sum ('Funds")for. {a)yrearty� =��•�,:, `•
<br /> �;.-�--*k' • ta�ces and assessments which may atta5i priw8y aver this Security Inshument as a iten on the Property; @) yearty ►easehotd(� ` _ • ,
<br /> ,.. _,- . payments or grourtd rents on the Property, if any; (c)y�ary hazerd or property insurance premiums; (�yearry ftood msurance
<br /> _� �� ` . • ? � premiums,if any;(e)yearty mongage tnsurence premvms, it any;and(�any sums payab►e by 8orrow8r ro Lertder in accordance � --' `
<br /> � _ .._.. _ . wRh the p��D P Ym .. __ �,,.._.::•.::.
<br /> . - � ; pmvisicns of t� 8, � lieu af the a snt ot mortgage insurance premvms. These � are catled 'Escrow �<`T� �� • �
<br /> � , .-�.� items.' Lendar may, at any tune, col(ect as�d ho�d Wnds in an emaunt not to wcceed the maxtmum emourtt a lender far a ' � ';�•��:
<br /> '. fedara�y cetated mortgage lasn may requica far Bocrowets escrow accaunt under the federai Reat Esffite Sattfement Procedures
<br /> t.� Act pf t97o as amended finm time to tbne, 12 US.C.�2601 et seq. ('HESPA'), unless another faw that appGes to the Funds - ". �
<br /> . sets a[esser amouni If s0.�der may,et any Ume.col@ct and hold Ponds in an amount not to exceed trte lesser amounG ��:
<br /> � � Lender may sstimate the amount ot Wrtds due on the basis of curtent data and reasonable esdmates of expend8ures of future `�'���`� ����
<br /> -`, Escraw ftems or otherw�se in accordanw wfth app�abte law. t , .
<br /> , ' The Funds shaU be Aeld rt�en mst�lut(on whose depos�ls are a�suced by a faderal agency,instrumentai�ty,or enUry(mctud�g "-r��.,�_��
<br /> � �t Lender, if Lender is such an inst�uUon)or u�arty Pederal Home Loan Bank. Lender sha9 appy tlie Funds to pay the Escrov� �:'"
<br /> t p:,-.�--
<br /> - Poems.Lender may not charge Bortower for holdb�g and appytng the Furtds,annua(ty enatyz(ng the escrow account,or verifytng -�?�.��• �-.
<br /> • - the Escrow I�ms, untess Lend�r pays Borrower fiterest on the Funtts and appik�b� Iaw pertnds Lender to maito sucb a =
<br /> charga Howeve, Lender may requtre Bortawer to pay a one-tune char{;e for an independem reat�tate tax tepottutg sendce � '
<br /> � � � used by Lender in connection wfth thts loan. untass eppfi�abte Iaw provides otherwise. Unless an agreement ts maQa or ,
<br /> . appl'�cabfe law requues mterest to be paid.Lendar shaU not be requ�ed to pay Bortawer any interest or eamings on the Funds.
<br />-, , - ���'-'� Borrovrer and Lend� may agree in wr�ing, hovrever, tbat interest shap be patd on tha Wrtds. Lender sha0 give to Bortower,
<br /> • � ` without charge,an annuat accountmg of the Funds, showing cred�s and Qebils to the Funds artd tAe purpose far which each __—
<br /> � � debit to the�unds was mada The Funds are p(edged as addfional securdy for atl sums secured by the Secur�y InsWment --__
<br /> .` . � `� �� = M the Funds hetd by Lender mcceed the amaunts Dertn�ted to be hetd by applfcabte taw,Lender shaii account to Borrower "" - -
<br /> • , �� `��:��� for the excess Ponds in BCCOrdBnce with the requirements of eppiicsble law.It the amount ot the Wnds h8id by Lender at any '� '��,-��.
<br /> time is rtot sufficiem to pay the Escrow Items when due, Lender may so notiry Borrower in wr�fng,and,tn such case Borrower � `• '�-'�
<br /> :4;�:;�';:�i
<br /> �:� •• � sha0 pay to Lender ihe amount necessary to make up the deftciency. Borrower shaii make up the deflc�ency (n no more than �` .;.;,;s.�f°�•.
<br /> � tweWe monthly payments,at Lenders sole discretlon. ; .r-: r`%� ���
<br /> t` S,
<br />-" _ . . _ .�. Upon payment in fuU of aU sums secuted by this Secur3y tns![ument,Lender sha�Qrompty wfund to 8orrower any Funds -.-.,,:��
<br /> � hetd by Lendar. N,under paragrapfi 21,Lender sha(1 acqutre or se0 the Property.Lander,pdor to the acqu(siUon or salB of the �� „ �',�
<br /> . � Property, shall 8ppy any FunQs hgid by Lender at the time of acquisiUon or sele as a credit agefist the sums secured by this �R�
<br /> • � Securdy InsWment. ' :.,'`����:�!�
<br /> - � ,' 3. Apptication Ot Psym@rtts. Unless appGcab�e iaw provtdes otherwtse, ail payments cecelved by Lender under � , �y;��
<br /> ' - para�aphs 1 and 2 sh811 be 8ppiied: fUsL to any prepayment charges Que under the Note;secand,to amounts payabte under � ••i,:Y�.�--
<br /> �' '�" `•� Dazayaph 2:thErd,to fiterest due;taurth,to rtnc' al due: end tast,to an late oh
<br /> p �p y srges due unda�the Note. �• �,�:;G-�S
<br /> ,•".� ��. 4. Ch�g28; Lie[t8. Borrawer shatl pay s0 tezes, assessments, charges, ftnes a�s imposiUons attnbumbte to the .� , : -{.�,��:;��
<br /> ' Praperty which may attain priorRyr over this Securftyr Inspument,and teasehotd payments or ground rents,if any. 8orrawer shall "'�'':
<br /> _ pay these obt'igations m the manner provtded fn paragraph 2, or rt not pa10 in tt�at manner, Borrower shsll pay fhem on Ume ;�;��`•
<br /> - � Qffeatly to the persc, owed payment. Borrower shall promptry fumish to Lender a0 notices ot amounts to be paid un0er tAis -__
<br /> _ ,. . _ paragraph. If Bocrower makes these paymenis directlyr, Borrowet shall prompty fumisn to Lender rece�ts evMenCing the .��.�._
<br /> . � . paymants. ,��`4: '
<br /> Borrower shall promptry disch �' !•'�'"``
<br /> arge any Ren whlCh has prtorlty over this Security InsVument uniess BorcoWer. (a)agrees in . � ,._.t
<br /> , writing to the payment of the obitgation secured by the I'�en in a manner accepteb(e to Lender, (b)contests in good fa8h the �;�':°':
<br /> '• '•f lien by, or defenQs egainst entorcement of the lien m, (egai proceedings which in the LenQefs opfnion operate to prevent the . . �`�'���
<br /> , enfarcement of the lien; or(c)seCUres from the hotdet of the lien en agreement s8ti5(actory to Lender subordmatfig the Gen to �F"�
<br /> , • ' this Security tnsbUmen� If LgnEer detertnines that any paR of the ProyeRy Is subject to a li�n wh�h may attefn prior:� aver thi3 -` ��
<br /> � , :. , 5ecurity tnstrument,Lender may give Borrower a notice idenMying the Qen.Bocrowar shali setisty t�e lien or talce one or maa o} ���
<br /> • the actions set foRh above withfi 10 days of the givh�g of notice. •�"�-�"
<br /> , , 5. H8Z8fd or Property Insurance.Barrower shall keep the improvements now exLstfng ot hereafter ereCted on the . " �
<br /> ; Properly tnsured against loss by tlre, harards fnctuded within the tertn 'extended coverage"and eny other harards, Including � � • ..
<br /> • floods or ilooding,for which Lender requaes fisurance. This Insurance shan bc3 mamtained in the amounts and for the perlods . '
<br /> _, that Lertder requhes. The insurance cartier providing the insuranCe shatl be chosen by Borrower subject to Lenders approval � ,:,;:;�
<br /> � ' . ,. whtch sAatl not Oe unreasonabty withheld. If 8orrower tails to malntain coverage described above, Lertder may,8t Lendefs � •
<br /> � optlon,obtain coverage to protect Lenders rlghts in the Property tn accordance w(th peragreph 7. , . � ��`
<br /> �. M insurance poi�ies and renewais shall be acceptable to lender and shail incNde a standard moRgage ciausa Lender .. �r,U • •
<br /> � ' �, shafl have the rlght to holC the poilcies and renewats. If Lender requUes,8orrower shall promptly give to Lender a0 recetpts pt � ••
<br />. � paid premiums and renewal not�Ces. In the event of loss, Bonower shatl gNe prompt notice to the Insutance Canier and Lender. : � � . �
<br /> � Lender may make proof of toss if not made prompty by Bcnower. � .
<br /> � Untess Lender end Borrower otherwise agree m wrRing,insurance proceeds shatl be applted to restoration or repab of the � . � '. ' '
<br />` •± . Pro�erry damaged,H the restorapon or repab is eCOnomically feasbis and Lender's 5ecurity s r�t (essened.It the restoratlon or ' •
<br /> repair IS not economicalry feasble or LenQers security would be Iessened,the insurance prccaeds shall be applied to the sums � � �
<br /> . . � Secured by thls SeCUriry Instrument, whether or not then due, with any excess p8id to Borrowar. If Bortower abandons the '� '
<br /> ' Property, or does not enswer withln 30 days a not�e from lender that the insurance carrier has ottered to settte a ctalm,then � �
<br /> �. Lender may colleCt the insurance proceeds. Lender may use the proceeds to rapau or restore the Property or to pay sums � � �
<br /> ' . secured by this Security Instrument,whether ar not then due. The 30�day pedod will begin when the notice fs given. �• .. �.
<br /> . � Unless Lender and 8onower otherwise flgres in writing, any eppficatlon ot proceeds to principal shaii not extend or
<br /> • � postpone ihe due date of the monthry payments refertsd to in paragraphs 7 and 2 or chenge the emaunt o}the payments. II �
<br />_ . � .: under paragraph 21 the Property is aCquired by Lender. Borrowers right to any insuranCe policles artd proceeds resuiting hom � • .
<br /> damage to the Property pAOr to the ecquisRion Shail pass to Lender to the extent o} the sums by this Securiry tnsWrt:ent '•
<br /> _ , . imm9dletely prlor to the aCqulSAlon. . , '..
<br /> . 6. Occupancy, PreservaUon, Maintenance and Protectton of the PropeKy; Bonower's Loan . , , .
<br /> • � Appiication; L@8Se'h01d8.Bortower shall occupy,establish, &nd use the Property as Bortower's ptinCipal re5idenc0 within
<br /> ! sbcty days after ths execution of this Secur'dy Instrument and shall continue to occupy the Property as Bonowets principal •
<br /> residenCe tor e! leest one yeet eiter the date o}oCCUpBncy,uniess Lender otheruvls9 egree5 in writing, whiCh Consent Shell not � .
<br /> • � be unreasonably withheld.or unless e�Renuating cUCUmstences exist wh�Ch ere beyond 8ortower's control. BonowBr ShSn not
<br /> desuoy, damage or trnpa�r the Property, el;ow the Property to daterlorete, or commit waste on the Property. Borrawer shall be in
<br /> � defautt iF any toAeiture action or proceeding, whether cNil or criminel, is begun that in Lender's good faith Judgment could reSUR
<br /> ! in fortedure ot the Vroperty or otharwtse materialty impav the lie� created by this Securdy InsUument or Lender'S seCUrity interest. ' �.
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