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<br /> '•-� TpGETIi�I WiTFI aU the improvemerns now or here9fter erected cn the property, and a1t easements. aPP
<br /> urtenances, end £�
<br /> � • f Coctures now or hereaftar a part of the proPe�h'.�����d add�i►s shall also 6e covered by this SeauritY InstrumenL . . , •� ' -
<br /> •AI►ot the foregomg ls referted to in this Securd�!tnsuument as!he'PropeRY� . '�- ..
<br /> ' '`� BORROW�t COVENANTS thet Borrowef is IawtuRll seixed of Ne estate hereby conveyed 8nd has the rlgh;to grant and � . ,. , ,. .
<br /> �� •. - eomrey the Property end thet tRe Prop�ty 1s urtencumbe�ed. e�ccept tor encumbrant�s ot record. Bortower wartents and w11 � r Y ,;
<br /> deftand ganerauy tRe tit�to tAe PropertY a�t a11 cia�ns end Qemands.subjeet to anY encumbrances ot recor0. ( ' .
<br /> .� , 7H1S SECUi�iY INSiRUMENT comhtnes un�orm covenants for national use and non-unaortn covenants with �imRed � l
<br /> ' variations by jurisdiction to eonstidte a undortn secur�y insVament covertn9�eal P�D�Y• , �
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<br /> . : � UNIFORM COVENAM3. 8orrower and Lender covenant end agree as fo�Ows. � .
<br /> ,, , 1. P�yment of�►lncipal end Interest;P�epayme�t and date Chargea eorrower sna��vromocN vay vunen �'`
<br /> due tha pru�ctpal af and(nterest on the debt evtdenced by tRe Note and any OfePBYment and late charges due unQer the Nots. �
<br /> � 2. Funda tor Texes end ta�surence.suniec�co avvr,cac�a taw or eo v wrKCen watver ny�enaer.BoROwer sh811 pay � •
<br /> �_ ,� to Lender on the day monthry payments are due under the Note,unt�the Note ts Da�d in/u��� a sum('Funda')for. (a)Ye�Y � . -`.- - - .
<br /> ' � taxes and assassments wbich may attain priority over t�is 3ec�d�nstn+men��u�ce prema�ms;A(dj�yearh�IO d insurance
<br /> _ _ ai � `
<br /> -- payments or grourtd rents on the ProPertY.8 8ctiy: ta3 Y�Y
<br /> ' ' • premiums. if any:tef Ye�1l mort�gaU��unot the P yment ot mortga$a inssurance premiums.87heserftems nare t8�ledc Esero�w ' . . `.
<br /> ' with the pravistons ot paregrap 8.
<br /> ' Items.' Lender may, at anY time,colleCt and hotd Funds rt� an amount not to�a;eed ihe cnexlmum amount a[ender br a
<br /> � tederaRy related martgage loan maY�►ire for Borrowera escrow account unQer the tederal Rea1 Estete SeGfement Proceduras ". .� c.,.. ,
<br /> Act o! 1974 as amended trom Bcne to time.12 US.C.�2601 et seq. ('RESPA`l. lmisss e�other taw thet BppC�s to the Funds •
<br /> ' f sets a lesser amaunt If so,tender maY,at enY tane• cot�ct e^d hold Funds m en emount not to exceed the tesser amount :�.,�.
<br /> • • ' ; Lender maY estanate the amount Of Funds due on the besis of curtent dafa end reasonabte estlmates of e�and'dures of future ( _�`�:";;" .
<br /> • � j Escrow items or otherwise In asxotdance wit►►ePpQcab(e Faw.
<br /> The Funds shall be held in en inst�tion whose dsposits ere(nsured by a tederal agency.mstramentat'dy,or entity(inch�ding �.,y„r_e`>'•°;
<br /> Lender,iF Lender is Such en instituUon)or in any Federel Hame Losn Bank. Le�der shaU aPpb the Funds to p8y the Escrow , !'.,,,',�,:
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<br /> Items. Lender may not Charge Barrower tor hotding and ePPPjtng ine FunOs,ennuelry ei►arysln9 ths esc�°w eccount, or veritying .;�__ _
<br /> the Esacw ltems, untass Lender pays Bortower Interest on tha Funds eed eAA�eb1e law perm�s Le�der to make sutA a < 1 ' :��,:.
<br /> ��5 charga Hawever, lender may requQe 8orrawet to pay e one-time charge for an independent real estate tax reportfig setv(ce - :. �-�
<br /> .. .. used by tender in ConnecUon wBt► this toan. untess ePPikabte law providesBorrower�any inte�or eemin9s on the Funds. . �_..�.`,-.
<br /> , . app�ir.aple law requues interest to be paid.Lender shati not be requued to DaY . . —_
<br /> BoRawer and LenQer maY agree in wr�in9� however. that interest stre0 be paid on the Funds. Lender shall gtve to Borrowar,
<br /> ` `.." without charge, &n annuai secou�tin9 af the Funds, showing ered�5 and debits to the Funds end the purpose for which each �:'( �'µi�..�"-
<br />� � debii to the Wnds was made. ?he Funds are ptedge�as additional secu�?y for all sums secured by the Securny�nstrument _ . ^
<br /> ' , If the Funds heid by Lender exceed the amounts permftted to 6e hetd by appiiceb►e 1aw.Lender shall flccaunt to BoROwer � ''�i;�;r-;'
<br /> � tor the excess Funds tn accordance wdh t►�e requuements of agpUcahte taw•ff the amourri o}the Funtts heid by Lender at any ;_,#�.�
<br /> � time is npt sufficient to pay the Escrow ftems when due,Lender may so notify Bartowar in writln9.and, in such case Borrower ���}��
<br /> � • . : . � shaU pay to Lender the amount necessary to make up 1he defictency. Bortower shaU make up the Qeficiency in no more than � .i, , ,_-
<br /> ' ` twelve monthly paymsnts,at Lertdefs sote discretion. • _
<br /> '�•,.: Upon payment tn full of ad sums secured by this Securt'ty Inswment,Lender shail prompty retund to Borrower any Funds �„��+�*�-�
<br /> ' ,, r: �: hetd by Lender. If,unda�paragraPh Zt.Lender shai!acqutre or sell the PropeRy,Lendsr,pri0r to the acquisR�on or sale of the -
<br /> .` '� � ; '�'':, Property, shall appN an9 Funds hetd by Lender at the tlme of acquisUton or saie as a cred� agatnst the sums secured by this __-_
<br /> . •r> ' Securiry Instrument . '��.
<br /> , ' 't;;1.,� 3. Appltcatfon of Payments. untess apa�1e �aw providss othanaise, aU payments received by Lender under '. '�,�.
<br /> paragrephs t and 2 shell be applisd_ fust,to any prepayment charges due under the Note; secand,to amounts payable andel , �s��,
<br /> ' �';� paragreph 2,thud,to interest due;fourth,to principal due; and tast,to ar►Y late Charges due unQer the Note. „�.-
<br /> �' • • ;,,�.'• 4. ChBtgES; LIBtiS. Boaower Shall pay atl mxes. assessments. Charges. fines and 6npasftions attnbutabte tn the -.�'"'.Y,;
<br /> Properry wh(ch may ettain Dricr+tY over Mis BecuMfl InSWment, and teasebold payments or ground rents. H&ny. �orrower shatl : y�..;_
<br /> pay these obligaUons (n the manner provided in para�ePh 2. or U not paid in that manner, 8orrower shall pay them on t5ne
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<br /> � dhecty to the person owea payment Borrower sha11 Dromptry tumish to Lender s0�oUces of amounts to be paid unQer this :��_,
<br /> � paragraph. If 8orrower makes these payments dUecty, Borrower sha0 promptry (umish to Lender receipts eviEenoin9 the . ..�;�, ..>,;
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<br /> . ,:.':•i,: i payments.
<br /> '' . • •�: � Borrower shall prompty discharge any Ben which has pdorityr over this Security InsUument uniass Borrower. (a)agrees In ,`,;�;-��.V
<br /> � • wrRfig to the payment of the oblfgation secured by the Iten in a manner acceptabie to Lender, (b)contests tn good taSh the �
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<br /> ' • ilen by, ar defends agatr►st enforcement o1 the �en �*.Ie9ai proceedings whicfi in the LendePs opinion opera.'9 to prevent the �,;��
<br /> ' enforcement of the Iien;or(c)seCUres from the hc:�er of the Iien en agreement s�tactory t0 1.ender su6oromating tha Uen w �,.:.
<br /> � -� ' this Security tnstrumenl.It Lender detertnines that any pert ot the Property is subjeet to a Iten which may attain prtority ovef this �t�.; � ;',s�
<br /> . Securty tnstrumenL Lender may Q1+re Boaower a notke tdentitytng i:.e lien.Borrower shail Sat�stY;.ha 11en or teke one or mora c¢ ;:_�.
<br /> � the acNons set toRh above withln 10 days of the givin8 oi nottce. '��•,';.?
<br /> 5. Hazard or Property Insurance.BorrOwet Shell kee�tAe improvem9nts now wci5:�9 or heresftel ereCted on the . -
<br /> - Property insured against toss by flre,hazards inciuded within tho term 'exce�ded coverage"and any other haTards,tnctuding . ,
<br /> floods or tlooding,for whkA lender requtres inaurance. Thls insurance sha0 be maintained in the amounts 2n�`or the periods
<br /> • ��� that Lender requtres• The insurance carrier proviamg the insuranCe shatl he chosen by Bortower subject ta�enders Bpproval
<br /> whkh Sha11 not be unreasonably wRhhefd. It Borrower tails to maintatn coverage descr�ed 8bove, LBnQer may. at Lenders . `�j,
<br /> option,obtain coverage to protect Lenders rigfits in the Property In accordence wfth patagraph 7. '
<br /> ' Ail insurance policres and renewats shatl be acceptable to Lender end shail inctude a standard martgage ciause. Lender . ,�
<br /> � shall have the right to hotA the polieias and renewats. H Lender requires�8orrower shell promptty gNe to Lender a0 recetpis of
<br /> ` � �� pald premlums end renowal nottces. (n the event of loss, Bonower shali gNe prompt noUce to the insurance carriet an0 Lender. e ,�
<br /> � Lender may make proof ot toss tt not made promptry by Borrovier. ��d to restoration or repalr of the � ' .
<br /> � Untess lender end Bortower oiherwlse agree in writin9� insurance praceeds shall be app • •
<br /> :.i � � Property damaged,H the restoratton or repaU Is economtcalry feasd�te a�d�ender's securRy is not lessened. If the restaration or
<br /> repalr is not economlcat►y teas�te or Lender's security r+outd be tessened,the insuranCe proceeds shetl be applied to the sums
<br /> � � secured by this Security instrument, whether or�ot tAen due, with any e�cCess 0� to 8arrowet. If BoROwer abendons the
<br /> ProOartY,o� does not answer within 30 days a noliCe hom Lender that the insurance carrler has oftered to settte 8 clalm,then
<br /> , � Lender may coltect the insurance proceeds. Lender may use the proceeds to repait or restore tAe Property or to pay sums .
<br /> secured by this SeCUtity Instrument.whether or n0!then due. The 3o-day perlod wiil begin wAen the notiCe ls gNen.
<br /> Untess LenQer end Bartower othenvise agreB m wripng, any applicatton of proceeds to principal shall nat extend or
<br /> � postpone the due date of the monthly payments reterrsd to in parag�aphs 1 and 2 or change ihe amaunt ot the payments. Ii
<br /> • • � damagaato9t ehP opertyPproe ofthecacquisiNon s eur�passrct v�Lend ehtothe exteMr o}the�sums by hlscSecurityr Inst►umont . .
<br /> , . j immediateh�prior to the acquisttlon. �
<br /> �:,', � � 6. Occupency, PreservaUon, MalnQenance and Protectlon of the Property; Borrower's Loan
<br /> . � AppUcation; L@888hOlde.eorcower shall occupy. estabGsh, and use the Property es Bonower'S principal resid5nee within
<br /> � saty days after the exeeution of this Securdy inslrument artd shall continue to occupy t�e Property as Borcowers principal
<br /> • res�dence tor at least one Yeer after t�e date ol occupanCy, unless Lender otherwise agrees in vrritin9. which consent shntl not I.
<br /> be unreasonaO�y wdhhold,or unless extenuat�ng circumste�ces exist which are beyond 8onovre�'s control. Bonower shall not
<br /> ' deSttOy.damag0 Or impeir the PropeRy,eltOw the Property to Qeteri0tate,or commit wa5te on the Property Borcawer shall be in .
<br /> default A any foAerture action or praceeding. whether civil or crim�nal. is begun that in Lenders good taith Judgment coutd reSUlt
<br /> ' ' m IoAorture o}the Property or otherwise meterialty impau the lien created by this Securdy InSUument or Lender's Seeurity mterest. . �
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