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<br /> , � � : � TOGETHER W(TH a�the improvements now ot heceaRer�ected on the p�o08rtq o be covered by this S rity Irtsbrument . `,� - ,
<br /> • ' ; fatures now or hereafter a paR ot the property.AI►reP►acements and additions shaU ats � �
<br /> , � Ail of the faregoa�g is ceterred to in M!5 SecuritY Instrument es the"Property• .,
<br /> BORROVYER COYENANTS that Borrower is tawtuUSr setaed ot the estate hereby conveyed end has the rtght to grant and � �� �
<br /> � t convey the Property and that tha Property is ime�wmbered. e�ceP1 for encumbrance.s of record Borrower warrants and w�D � - .. ` ��c ;:
<br /> � �- defend gerteralty the Gtte to the Ptaperty a8sinst aU Cleims and Qemands.subject to any encumbrenCes of record � � •� ..
<br /> �� THIS SECUFttTY INSTNUMENT combines unHortn coveaanis for nattortal use end non-un7ortn Covenarrts w�h lunded � F;;: .. �:-`=
<br /> � = variaUans bY lurisdicUan to constdute a undome securit�l instrument covertrig real propertY. •• •
<br /> � ' � UNIFORM COVENANTS. Bartower and Lend�covenent end agree fls follows: , `"Y.
<br /> ,< ! 1. Payment ot Prirecipat and Interes� Prepayment and Late CharSes eorrower snau cromPUy aar whea � , ,
<br /> � � due the pri�cipal of and mterest on the debt evldenced by the N�te and any prepayment and late cherges due under the Note.
<br /> ,. . � 2. Funds tor Taxes and Inse�rance.Subject to BpP���w or to e wtitten waivet by Lertd2t.Botrower shBU paY � �: .. .
<br /> ' to Lender on the day monthly paymants ere due uader tha Note.until the Note is pald in fu4 a sum ("Funds�for. (�8heatlY ., << ,, µ. �f
<br /> _ : �� taxes and assessments whlch may ariatn Priarny over thts Security Instrument as a Iien an the Property: (b1 �Od �surance •�� -• --
<br /> ,� - - payments or ground rents on the Property, rt anY. (a}yearry hazard or propeRY msurence premwms, (d)9e�lyr _ <
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<br /> - � premiums, ff any: (e}yearly rtoRgage rt�surance Dwrtinuns�if anY�d(��Y sums payable by Bo[rower to Lender in accordance
<br /> wRh the provistons ot paragraph 8, m lieu of the payment of mortgage insurance DrerRiums• These � ��d ��'�w ,
<br /> , � ` - Items." Lender may.at anY time.collect end hotd Funds m en amount not to�ceed the ma�amum amouni a lender far a , : � .
<br /> }��ra�ly ralafed mor�a9a taan may require tor Borrowers escrow acCOUnt under the federBl Real Estate Sett►ement Procedures
<br /> " � � Act of t974 as amendad irom time to tUne, 72 US.C.�2601 et seq. ('RESPA"), untess ano2her law that appl'ies to the Funds
<br /> � � . ,� sets a lesser amount If so.Lender may.at any time, ccUect end hold Funds �s en emaunt not to exceed the Iesser amouaL ;� ;-` '
<br /> IIS :
<br /> . , Lender may estimate the amount of Funds due on the basis of cument data and reasonabte estunates of expenditures of future - .••. .
<br /> • , ; Escrow Items or othernise in accordance w�th aPplicabte taw. , . -,,`p. ,
<br /> . j The FunQs shaU be held in an instilutian whose deposits 8[e insured by a federal sgency.instrumentatcY' �or ent�ly (moludin9
<br /> ' Lender, d Lender is such an tnStduGOn)or in eny Federal Home Loan Bantc. Lendet shatl apply the Funds to pay the Escrow .;.:,: . :;
<br /> ' ' Items. Lender may not charge Bortower for hold�g and applying the Funds,annua►hr ana�yz�9 thB escrow account,ot ver3yfig ,< ____
<br /> � �� j the Escrow Items, un,Isss Lender pays Bortower fnterest on the Funds end appGcable law Permits LenQer to make such a :.� , `` [�� ��
<br /> � � .� � charge. However, Lender may require 8ortower to pay a one-Urno charge for an rt�dependent real esffite tex teDcrtln9 s�e
<br /> ` . •` � used by Lender In connectlon w�2h this Ioan. unless appGcab�e taw provides othernvlse. Untess an a9reement is made or _.,.�- '-
<br /> applicabte taw requires intecest to be paid,t8nder shall not be requued to pay Bortower ar�y interest or eama�gs on the Funds. ����
<br /> Barrower and Lender may agree in writm9. however, that mterest shall tre paid on the Funds. Lender sha�give ta Bortower. ` �;�:
<br /> without charge. an ennua►accoundng of ths Funds,shawing cted�ts aed debRs to the Funds and the purpose tor whtch eacl :;,_,_i,
<br /> �• � de6it to the Funds was made. The Funds are pledged as addd►onal security for aU sums secured by the SeCUr�f Msdument -_-_-lf;;�,�
<br /> � If the Funds held by Lender exceed the amounts Dermitted to be held by app�'cabls law,Lender shan account to Borrower , , �`.,.:,
<br /> • •/ 'S for the excess Funds In aCCOrdance with the requirements of appC�Cable law.1i the emOUnt ot Me Funds held by Lender at any . ,, ' _
<br /> Yune is not sutftctent to pay the Escrow Items when due.Lender may so notify Bomower in wr�lh�9.and�In such case 8arrower �;.,�
<br /> sha11 pay to Lender ffie amount necessary to make up the deflciency. Borrower shafl make up the deticiency rt►no more than _ �_'t'��'�:.h�_�
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<br /> • � twelve monthly paymerns, at Lenders sole di5cretion. �
<br /> . Upon payment rt�tutl of all sums secured by this SecuritY�nstrument,Lender shatl promptiy returtd to 8ortower any Wnds ��;�'�_
<br /> � � .. held by Lender. lf,under paraSreDh 21,Lender snafl acqufre or sett the Property.Lender,pdor to the acqulsR�On or sa[s af the ��'+�,��-
<br /> property, shap apply any Funds held by Lender at the time of acqufs�ion or sate as a cred�against the sums secuted by thi5 ^ ,��='�`�`';-
<br /> •� • Secur�ty Insuumen� .,� 4�°s"�''.
<br /> • ,� � 3. Appl[cation of Payments. un�ess avaiicac�e �aW provtdes oiherwlse, all payments receNed by Leader under . � �._
<br /> .I � paragraphs 1 and 2 shalt be appGed: first,to any prepayment charges due unQer the Note;second,to amounts payabla under ,,,. ." � ___
<br /> paracgaph 2;thUd,to interest due;fourth,to principal due;and last,to any late c�ar8es due under the Note. ,` ��,��
<br /> � � i 4. Charges; Uens. eorrower snan oay a11 taues, assessments, charges. fines end imposiqons attnbutabla to the _ _��.<<
<br /> � � .; � PropeRy which may atiain priorily over this Security Instrument,8nd leasehotd payments or ground cents,H any. BoROwer shall .`_��..
<br /> pay these obtigaUons In the manner provtded In para�aph 2, or d not patd tn that manner, 8orrower sha0 pay them on time �
<br /> � � � directy to the person owed paymen� Borrower s�aU prompty tumish to Les�der atl naUces of amounts to be pald under this `-. �•�:•c�
<br /> � ' ' pgrggt3ph. If 8orrower makes these payments dtreclty. Boaower shall promptty fumtsh to Lender recetpts eviQencing the ; . `:;��_,�:;
<br /> � . . • PaYmenis. = � ... ':,.`��;:
<br /> ' Borrower shatl promptty discharge any I'�en which has priority over this Security Instrument unless Borrowar. (a)egrees in , .
<br /> " ` writing to tne payment ot the obl'�gation secured by the tlan In a manner acceptabte to Lender, (b)contests in Bood faRh the :�-:�.;�;
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<br /> � I'�en by, ar defends against enforcement of t he l ien i n, lega l P r o c e e d i n g s wh3ch in the LenQers opinlan operete to prevent the T�,
<br /> entorcement of the lien; or(c)secures from the holder ot the Iten an agceement satlsfactory to Lender subordinating the lien to . ; -�__
<br /> • � . +" thls Secur'ity tnstrumen� tf Lender determ(nes that any paR ot the Property 1s subJect to a lien wA�h may attetn P�iority aver th� �:i�_4,
<br /> Securily tnsuument,Lender may gtve Bortower a noNce Identirying the lien.Borrower shall satlsty the Iien or take one or more ot
<br /> � the aCtions set forth above withN 10 days of the glving Of nottee. •� �T
<br /> -. 5. Mazard or Property Insauance.BorrOwet ShHO keBD the improvements nOw ex1511ng ot h8t88ft0�ereCted On the ' ',':• ��
<br /> : � ,; � Property tnsured against loss by(tre, he�ards tnCluded w�hin the term °extended covera9e"end eny other hazar�,incNding .
<br /> ''r floods or floodfn@,tor which Lendet requlres lnsurance. This insu�ance 5ha11 be mafitained In the amounts an0 tor the periods
<br /> '; 1 that Lender requtres. The Insutance carrler provtdfig the insurance shall be chosen by Borrower subject to Lender's approval . ,. _
<br /> � i which shall not be unreasonabty withheld. If Borrower fails to mafitain covetage descr�bed above,Lendet mpy, at Lender's ; . �
<br /> optlon,obtan coverage to protect tenders rights in the Property In accordance wfth paragraph 7. . . .,F
<br /> All insurance pollcies and renewals shall be acceptabte to Lender and shall include a standar d mortgage clause. Lender
<br /> ` shall have the right to hold the policles and renewals. If Lender requtres.Bortower shall promptty give to Lender all recetpts ot . :•
<br /> paid premlums and renewal notkes. In the event of toss. Borrower shaU glve Orompt nat►ce to the insurance carrtet and Lender. .
<br /> � Lender may make proot of Ioss if not made prompty by Bortower. •
<br /> Unless lender and BoROwer otherwlse agree in writing, fisurance pwceeds shall be applied to restoratlon or repaU of the
<br /> ��� PropeRy damaged,H the restoration or repair Is eeonomlcaly feas�Ie and Lendets secur;tyr is not lessened. If the restoraUon or . � ,
<br /> • repair Is not economlcalty teasible or Lender's securityr woutd 6e tessened,the lnsurance proceeds shall Oe apD��ed to the sums ._ ��
<br /> • � secured by thls Security InSbrumenl, whether or not then due, with any excess pald to Bonower. If Borcower abendons the
<br /> ,. •. ; Property, or does not answer wRhin 30 days a notke hom Lender that the Insurance carrier has oNered to settk�a clafm,then ,
<br /> �• � Lender may cattect the Insurance proceeds. Lender may use the proceeds to rapatr or restore the Praperty or to pay sums
<br /> secured by thig Security Instrument,whether or not then due. The 34day period will begtn when the notice is given.
<br /> � • 3 Untess Lender and Borrower othervvise agree in writrt�9. anY aAP�icBtlon o} procaeds to princlpal shall not exlend or
<br /> � postpone the due date of the monthry payments reTerred to in paragraphs 1 and 2 ar change the amount ot the payments. II
<br /> � � under paragraph 21 the PropeRy is acquired by Lender, Bonowers right to eny insurance poticies and proceeds resulting from
<br /> � damags to !he Property prior to the acquisiNon shall pass to Lender to the extent of the suma by this Security Instrument
<br /> , � immediatety prtor to the acquisdlan.
<br /> - ' ; 6. Occupancy, PresenraUon, Msintenance and Protection of the Property; Borrower's Loan
<br /> � ApplicaUon; L@9SE'hOldB.Borrower shall occupy.establlsh,and use the Property es BorrowePs principat residence within
<br /> sbcty days after the execution o} this Security Instrument and shall Continue to occupy the Property as Borrowers principel I
<br /> I��� 1 residence to�at least one year efter the date ot occupancy, unless lender othervulse egrees in writing,which consent snan not
<br /> be unreasonably withheld,0�unless extenuating circumstances exist which are beyond Bortower'S conhoL Borrower shall not I
<br /> �; destroy.damage or impau the Property,allow tne Property to deteriorate, or commit waste on the Property. Boaower shall be in h . _
<br /> ; detauR if any 1oAeiture aetton Or proCeed�ng, whether Civil or Ctiminal,is begun that in Lender's good taRh judgment Could result I
<br /> , ' m to�eiture of the PropeRy ot otherwise metetialty impeit the Gen Created by this Security Instrument or Lender's security interest.
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