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<br /> ' . TOGETHER WRH a0 the anprovements now or hereafter erected an the propeRy, anC atl easements. apPurtenences, and - • ,
<br /> � � fatisres naw ar hereaRer a part of the property.All replace�T�ems and addittons shall fliso be coverad by Mis Seeurdy Inswment. • ,
<br /> . ` Au ot the'.oregoirtg ts r'rfarted to m th�Security�nstrument as the'PropeRy.' . " � .
<br /> • - BOfIROW�i COVENANTS that Bortower Ls Iaw(u�ly seimd of the estate hereby Conveyed end has the rignt to gwnt and� ; , _ .
<br /> ° ' comrey the Property and that tAe PropeRy Ls uneneumbered, sxcept tor encumDrances of recorQ Bortowet warrents end wiil� �
<br /> . . .' defend generaDy the t�te to the Property agah►st aU em�ns end demer►els,subject to any enCUmbrancss of record. '� �
<br /> • `� THlS SECURITY tNSiRUMENf cambines unHOrtn cov6nants tor n�tlonal us9 and norrr�nitorm covertants wEih funited �
<br /> � variaUons b jurisd'�etion to canstdute a unRorm secur(ty instrument covering cea!property. �i•. �, . .' -`._, i`.;(. ;�'
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<br /> � ` � • UNIFOHM COVENAMS. Borrower and Lender covenant and a�eB as toDOws:
<br /> � � 1. Payment ot Prinaipal and Interesd; Prepayment and Late Charges.eorrower snau promACN vay ween�
<br /> . • due the principal o!and interest on the debt evidenced by the Note and any DreAayment and Iate charges due under the Note. � � � " " . i`
<br /> ` ' 2. Funda tor Taxes an d Insurance.S l t b jeCt t o Spp(t C e b t e l a w o r t o e w r�t e n w e l v e r D y L e�t d e r.B o r r o w e r S h d U p e y� • f .
<br /> ro Lender on the day montAty payments are dus under the Note,unt�the Note ts paid in futl, a sum(°Funds") for. (a)yearry �" <<,.
<br /> =�.�,-T--- ' taxes and assessments whtch maY a� P�ority over th(s SecuMY tnstrument as a lisn on the Property; (b) yearN teasehofd� • �
<br /> ' 1�� payments or ground rents on the Property, if any: (C)yearty hazard or propert7t insuranCe premiums;(d)yearty ttood insurance - �
<br /> - - - Pramn�ms.d any:(el Ye�Y mortgage insurance premiums.�7 enY;and(�eny sums payabt0 by Bortower to Lender in eccordance - T:_,.__:: :� �,,.
<br /> ` with ths provisions o! paregraph 8, in Peu of the payment of mo�age ir►surance premfiims. These 3ems are cetled 'Escrow - . �--!`:-
<br /> `� � Itertis." Lender may, at any Cvne, coUect and hotd Funds tn en emous�t not to�cceed the ma�irtnum amount 8 Iender tor a y � �. .
<br /> . ` � federaity re�ated martgage loan may requir�e for Borrowe�s escrow account under the taderai Rsal Es#ate SetUsment Pracedures r�4� . �'`'
<br /> � Act of 1974 as amended irom tune to time, 12 U.S_C.�2fi07 et saq. ('FiFSPA°1. unfess ar�other faw thai epRGes to the Funds , �,�
<br /> sets a lesser amoun� If so, lsnder may.at anY time.coliect end hold Funds in en e�s�ouot not to exceed the lesser amount �,� ,�,;�_ �
<br /> � `. • Lender may estimate the amount of Funds due on the basis ot curtent date and reasonahle esthnates of expend'dures of future ' • _
<br /> :� " ' Escrow Itams or othe�wise in accordance w�Th applicabte taw. . :`�;r;" .'
<br /> � The Funds shall 6e heid in an tnst�ution whose deposits are msured by a federel aBenCY,insfi+m��Y.o�entdy (mcludrt�g _ :
<br /> � � �� Lender, 'rf Lender is such en mst�ution)or in any Federai Home Loan Bank. Lender sha0 appty tNe Funds to pay the Escrow ° . �'�- �
<br /> • Items.Lender may not charge Borrower for holdmg and apply3ng the Funds,annualy analyzin9 the escrow account,or veritying . ;�`�-
<br /> � .� . , t�e Escrow Items. untesa Lender pays Borcower interest on the Funds and appl�abte Iaw permfts LenQer to make such a • ', :� .:z=-_
<br /> charge. However, Lender may require Bortower to pay a one-t�rfe charge tor an independent real estate tax reporting service ` `�'�_
<br /> used by Lender in connection with this :aan, unless appticable (aw Pravides oihervrise. Unless en a9reement is mads or ' - :::.,�.:.:;
<br /> ' applicable�aw re�icas interest to be paid,Lender shail nat he requUed to pay Bortower any tnterest or eamings on the Funds. �� t•��
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<br /> ' " Borrower and Lender may agree � writ�9� however, that interest shall be paid on the Funds.Lender sha0 give to Borcower, � • •�`,'.
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<br /> without charga an annua�accounting of the Funds,showing ccedds and dab�s to tha Funds and the purpose tor whkh each 4� .�;:t"
<br /> • � de6it to the Funds was made. The Funds are piedged as aQd�ione!security for sU sums secured by the Securiht Instrument • � =,<�",, ;
<br /> ' � ` If the Funds hetd by Lender exceed the amounts pertnitted to be hetd by appllcebb law.Lender shail account to Borrowar ��`''�-" �`
<br /> � for the ex�ess Funds in accordance with the requirements ot appGcebte iavi.If the amount of the Funds hetd by lender at eny - ° �-- ':..',��'�_�
<br /> tune is not suHic�nt to pay the Escrow Items when due, Lender may so notHy 8ortower (n writfig.and, fi such case Boaower '�.-.��
<br /> � � � shall pay to Lender the emount necessery to make up the defictenay. Borrower st�a11 make up the deftctency in no more then � �: .s •.,,,.r. ,
<br /> � � . ` tweNe monthly payments,at Lende�s sole discredan. � �':'���.�� -
<br /> • ° - • Upon payment in full of ail sums secured by this S�urt[y lnsGument,Lsnder shall promptty refund to Borrower any Funds �:��;_
<br /> •• hetd by Lender. If,under paragraph 21,Lender shaff acqufre or seU the Properly,4ender,pdor to the acquis�ion or saie of ffie , --
<br /> � � Property,shail8ppty any Funds heid by Lender at the tfine of acquis�ion or sata as e cred�t agair►st the sums secured by this
<br /> SecuritY Insuument .. :'•�•a� ���
<br /> � - $. ApplicaUo� Of PByriltnt8. Uniess appltcahl8 Iaw provides otherwise, s0 payments receNed by lender under . . ���r���
<br /> � paragraphs 1 and 2 sha0 be eppiied: ttrst,to eny prepayment Charges due under the Note;second,to amounts payabg under .. °�°--
<br /> � � . ' � p�4pCharges; Uens. eo owarhshalprpaYaaitlutexes� assesstments�herges, fineseand Imposto s arinbutabie to the '� . �""�`��-
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<br /> . Property which may attafi priority over thts Security Instrument,and teasehold payments or ground rents,N 8I1}/. BOROWBf Sh811 ; , r,_.
<br /> ' pay these obfigaUons in the manner provided in paragraph 2. or N not paid in that maneer, Borrower shatl pay them on time , ; �'?��.
<br /> � � � • d"vectiy to the person owed paymen� Bormwer sfiatl promptly fumish to Lender a0 notices of amounts to be paid under thts -`r.i.' •� "��:.
<br /> - '. . - paragraph. If Bortower makes these payments d'uectly. Borrower sha0 prompty tumish to Lender receipts evidencirtg the . .. '�-u_�>
<br /> � ` • 'i payments. � "�`;
<br /> � ' Barrower shall pfomptry diSChBrge anY�ien whfch has pdority over this Secun'ty instrument untass BorrOwer. (a)egrees in .,;-.
<br /> � wr�ting to the payment of ths obligaUon secured by the Iien in a msnne�acCeptable to Lender, (b)contests in goo�taith the , �• _���';.�
<br /> lien by, ar defends against enforcement of the Iten m, tegal proceedings which in the Lenders opinion operate to prevent the • .�,��?
<br /> :.�,•.
<br /> enforcement of the lien;or(c)secures from the holCer of tfie Ren an agreement satistaetory to Lender subordinat�g the tien to , . . .�.�.:
<br /> - � this Securityr Instrument.1t LwnAer determtnes that any paR ot the Property Is subJect to a lien whkh may attain prlority Over thla ��3t'
<br /> � . . SeCUrRy Instrument,Lender may give 8oaower e notice identdy�g the lien.Bortower 5hai1 setisfy Me tlen or take one ot mofe of . • °�'•_
<br /> • the actlons set forth above wdhin 10 Eays of the glving of notice. ' �•�.'.fi°�
<br /> � 5. Hazard or Property Insurance.Bortower shail keep the hnprovements now exlsting or hereafter erected on the •
<br /> • � -'• PropeRy Insured agalnst loss by f(re, harards inc►uded within the tertn "extended coverage" and any other hamrds,Inciuding ,- •
<br /> , �, . tloods or floodfig,for wtt�ch Lender requtres insurance. This insurance shaii ba mart�ta�ned In the amounts and tor tne periods
<br /> that Lender requUes. The insuranCe carrier providing the insurance shall 69 chosen by Bortower subJect to Lender's approval • -
<br /> ' �� which shall not be unreasonabry wRhhetd. If Barrower faiis to maintao�coverage descr�bed ebove, Lender may. at Lenders . .
<br /> �;� option,obtain coverage to protect Lenders rights in the Property in accordance wAb paragraph 7. . „ .
<br /> � All Insurance palicies and renewais shaD be acceptable to tsnder and shall include a stsndard mortgage clause. LenQer
<br /> � shall have the rigfit to hold the policies and renewais. If Lender requQes,Boaower shall promptly giva to Lender all receipts of � •
<br /> . paid premiums and renewal notices. In the even!of loss, 8orrower shail give prompt notice to the Insurance camer and Lendar. �
<br /> � � Lender may make proof of toss if not made promptty by Bortower. , � .
<br /> Unless Lender and Bortower othervvlse agree in wricing, insurance proceeds shall be apptled to re5toration or repaU of the
<br /> � Property damaged if the restoretion or repatr is economicaly teasibte and Lenders securitq IS no!lessened.If ths restor8tion or � � ,
<br /> • repair Is not economlcally teasibte or Lenders security would be lessened,the insurance proceeds shall be app0ad to the sums � . . .
<br /> . secured by ihis Secutfty InsUument, whether or not then due, with eny exCess paid to Bortower. If BortOwet ebandon9 the .
<br /> Pcoperty, or does na�enswer within 30 days a notice from Lender that tAe insurance Carrler has oNered to 5etti8 a clatm,then •� j .� .
<br /> Lender may collect the insurance proceeds. Lender may use the proCeeds to repab or restore the PropeRy or to pay sums '
<br /> � . seeured by this SeCUrity Instrument,whether or not then due. The 36day period will begin when tAe notice is given. . :
<br /> ;: Unless Lender and Bortower otherwise agree in writing, any appUcation ot proceeds to pnr.clpal shail not extend or
<br /> post0one the due date o} the monthy payments referted to in paragr�aPhs 1 and 2 or change the amount o!the payments. Ii
<br /> • under paragraph 21 the Property is acquired by Lender, Borrowers right to any insurance policies and proceeds resulting hom
<br /> damage to tAe Property pHor to the aCquisRion shall pass to Lender to the extent ot the sums by this Security Instrument
<br /> � immediatety prior to the eequisAlon. •
<br /> � 6. Occupancy, Preservation, Maintenance and Protection of the Property; eorrowe�'s Loan
<br /> AppUcation; Le8S8hOld8. 8onower sha11 occupy,estabush,and use the Property as Bortower's principat residence within .
<br /> sbcty days after the execution of this Security Instrument and shall continue to occupy the Property as Bonower's principal • • .
<br /> resldence tor at teast one year after the date of ocCUpancy,uniess Lender otAervvlse agrees in writing, whlch consent shall not '
<br /> � • � be unreasonabty withhe�d, or un{ess extenuating cUCUmstences exist which ate beyond BorrowePs controt. Bonower shall not � •
<br /> destroy, damege or impa'v the Property, allow the Property to deterloreta,or cammit waste on the Property. Bonower shali bo in
<br /> . � default if any torfedure sction or proceeding, whether c�vil or crimina�. is begun that in Lende�'s good failh judgment couid result ,
<br /> ` ' in foReiture of the Property Or otherwiss meterlally impalr th8 li8n cre8tetl by t1��s SecurAy Instrument or Lender's SeCUrily Interest.
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