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<br /> . ,.� TOGETHEA VYfTH ali thg cnprovements nov+ ot Aeteafter erected on the ptoperty. and all easemants. appurtenenees, and '�
<br /> toRurea now ar hereafter a part ot t�e property. All replacement5 and atldRio�s s�all also Oe covered by th9 Seeurdy Instrument, M`• ,
<br /> AD o!the torega�g is reterred ro tn this Security �nstrument es tne'Property.' . - . .
<br /> � 80RRONlER COVENAN7S th8t 8ortawer is tewfuty se�d of the astate her8by comeyed and has the rigAt to grant and �
<br /> � ' convey the Propertyr and that the Property is unenwmbeted, �cept tor encumbrances ot record. Borrower warrents and w�l
<br /> . � defend g8neraQy tAe tdte to th9 Prop9Ry 8gatn5t&II CIS6n9 8nd demends.subjeCt to eny enCUmDrences Ot record. � � ,` r .
<br /> • ' THIS SECURItY INSTRUMENT combfnes un�Tartn covenanis tor naUonal use artd aon�undortn cavenants with fun�ed � ' •� �
<br /> . . � variat)ens by je,ris�ietian to canstTute a undorm seeurity u+sUument cavedng reat property. � �
<br /> � UNIFORM COVEI�ANTS. Barrower and Lender covenant end agre9 Bs tollow9: `�`' � ��.`.
<br /> `i � t. Payment ot Princtpal ane! Interes� Prepayment and Lete Cha�ges. eorrawer sAali promptry pay when Mi � ` �,
<br /> due the princ�al of end interest o�the debt ev(denced by the Note and any prepayment and tate ch$rges due smder the Note. 0 � `
<br /> ^ :� 2. Funds for Taxes attd lnsurance.Subject to 8ppfiCBble!aw or to 8 written waiver by Lender,8ortower shell Pay � . `. ' . .
<br /> to Lender on the day monthly payments 8re due under the Note,unti the Note Is paid in fu0.a sum("Funds")tor. (a)yearty
<br /> taxes and assessments xrhich may attair►► priority over this Securhy InstrumeM as a fren on the Property; (b) yearry leasehold �
<br /> tti
<br />_ -- -=-° _ °�:`-� paymettis ur ground rerits on the Property.it any: tc)YearSy harard or propeRy insurance premiums: (d?9eatty flood insurance � -=---:--_.. --
<br /> -:� p r em i u m s,e an y:(s)Y e a d y mo rt g a 8e insurance premiums.it an y;and (fy any sums payabie by Bortovrer to Lender m aecordance �` ,
<br /> with the provisions of paragraph 8, in fieu of the payment ot mortgage insurance premiums. These �ems are calied "Escrow
<br /> ' � i Items' Lender may, ffi any Ume,collect end hotd Funds in en amount not to exceed the maximum amaunt a tender for a ; • �
<br /> . � tederally retated mortgage loan may require for Borrowers escrow accouni under the tedeial Real Fstata Settlement Procedures `'
<br /> . � ; Act of 1974 as ameeded from time to time,12 US.C.�260t et seq. ('RESPA"}, un►ess enotRer taw Mat appliss to tha Funds : �•;"� -
<br /> � - sets a lesser amount If so,Lender may,at any time,cotlect and hoid Funds �an emount aM to e�eed the lesser amoun� ' � _,: '�=x
<br />_ � Lender may estimate the amount of Funds due on the basis ot current data and raasonabte esGmates of mcpendfiires ot future .'�4`
<br /> . �;'� Escrow Items or otherwise m accardartce wfth appiicable law. �``�.: '
<br />• ` The Funds shalt be hetd in an inst(Ntion whose depos"�.s are�sured by e federal agency. instrumentafrty, or ent�ly(tnCluding • ` '��'���`� .
<br /> � ' ' Lender, ft Lender is such an inst�Tution)or in any Federal Home Loan Bank. Lender shall appy the Funds to pay the Escrow ' �.�-.,;�;
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<br /> � Items.Lender rr�y not cnarge Bortawer for AoJding end apptying the Funds.annuaQy anary�7rtg the escmw account,or verifying � � .�:�='
<br /> � • � the Escrow Items, untess LenGsr pays Borrower fnterest on the Funds and appi�able taw pertnits Lender to make such a .�h.-
<br /> _ . � charga However, LenQer may require Borrower to pay a one-tune charge tor an independeni real estate tax reporBng senrice � � _
<br />- used by Lender in connectlon w,th ths toan, untess epplicabte Iaw provides otherwise. Unfess an agreement is made or . � -
<br /> - applica6te Iav�requires mterest to be paid,lender shatl�ot be required to pay Bortpwer eny interest or qmmgs on the Funds. ° ��
<br />" � Borrower and Lender may agree in wrdimg, however, that interest sha0 be paid on the Funds. Lender sha� giva to Bortower, �•�.'��'_
<br /> without charge,an ennaal accounttng of the Funds, showing credits and debits to the Funds and the pu�pose tor whfch each - -� >••;;;=--
<br /> � � debft to the FurtQs was made. The Funds are pledged as addiUonal securityr tot all sums secured by the Securityr toswment =- `� I `
<br /> :.¢,�
<br /> � �.-• -. It the Funds hetd by Lender exCeed the amaunts permitted to be hetd by appGcBble Iaw,Lender sfiall account to 8orrower : ,�:a., .
<br /> • ':; for ttse eoccess FunQs in accordance w�A the requirements af appMable law.R the amount of the Ponds heid by Lender at any ��,�g;'�,...y _
<br /> �� time is not wfficiant to pay the Escrow Items when due. Lender may so notity Bortower in writing,and �►such case Borrower .. i:,,;r==-
<br /> shatl pay to Lender the amount nacessary to make up the deflciency. Borrowet shall make up the deficiancy in no more than ' .-
<br />- ` _ tweive monthty payments,at lsnder's sole discreUon. " ,�;.���
<br /> " Upon payment in full of atl sums secured by this Security instrumen� Lender shatl prompty reiund to Bortower any Funds • a�
<br />" • • held by LenOer. If,under paragraph 21,Lender shall acquhe or seli t6e Property,Lender,prior to the acquis�ton or sate of the �;;L:�•._�-
<br /> Property, shall appry any Funds held by Lender at the time of acquisitbn or sale as a credit ageinst the sums secured by this _- _.
<br /> ' ° SeCUrity lnstrumen� .. �
<br /> 3. Application of Paymenta unress appticable law provld0s omerw�sa eA Payments received by Lender under
<br /> paragraphs 1 and 2 sha0 be applied: flrst,to any prepayment charges due under the Note; second,to 8mounts payable under ��°
<br /> . paragraph 2;th'vd,t�interest due;fouRh,to principal due;and fast,to eny late charges due unQer the Nate. <r ���'��4
<br /> ° 4. ChBfgES; LiC118. BoROwer shall p8y 811 tex65,'a5595sm0nt3, chefge3, fit18S ertd irttposfllons BtUibutBbte to the •
<br />- .' . Property which may attafn priarnyr over this Security Instrument,and teasehold payments or ground rents,tt any. BoROwer shaU ��-
<br /> � � pay these obligations in the manner provided in parnr�raph 2, or A not paid in that manner. 8orrawer shall pay them on t�n0 �� � ��>.,�,�•_
<br /> - . .- directty to the person owed payment 6orrower shatl prompUy fumish ro tsnder all notices of amounts to be paid un6er this •--��;;:-,
<br /> paragraph. If Bonower makes thase payments directry. 8orrower shall promptty fumish to Lender receipts evidencing the • `��r--•
<br /> , � payments. , .. .,:;''�•;��:
<br /> � 8orrower shall promptry discharga any lien whlCh has prioriry over th(s Securnp Instrument unless Borrower. (a)agrees In ' ��` -'�:;�;r-=
<br /> � writing to tAe payment of the obligation secured by the lien in a manner acceptable to Len�er, (b)Contests tn good tafth the 1„ �;��;=,
<br /> 6en by, or defends against enforcement of the lien tn, tegal proceed�ngs wh�h (n the Lendefa opinion operete to prevent the �-
<br />- � • entorCement of the lien;Or(c)secures from the holder of the lien an agreement satisfactory to Lendet SuDOrtllnating the lien to _ : "�x��
<br /> this Security Instrumen4 If Lender determines that any part of the PropeRy Is sub;ect to a Iten whlCh may 8tteln pdorRy over this � _ --
<br /> _ _ Securilyr Instrument,LenQer may give Boaower a notice identHying the lien.Bortower shall satistyr the lien or take one or more Ot __
<br /> +�.. � � the aCtiOng set foRh ebOVe withbl 10 deys of the giving of notiCe. _
<br /> . � S. Hazard O! PfOp8t�1 IQSUfBtiC@.Borrower shatl keep the improvements now existfng ot hereaftet ereCted On the • ,-_'f':,;
<br /> �+ ' ' Property insured against loss by fue, hamrds inctuded within the term "extended coverage" and any other hazards, tncNdfig ' • '
<br /> ' ' ' ftoods or flooding,tor wh�h Lender�equUes insurance. This insurance 5hatl be matr►tained tn the amounts and for the peHOds
<br /> that lender requires. The insutance carrler prOVidfng the in5urenCe sh811 be CfiOSen by Borrower SubjeCt to Lenders approval • ' .
<br />, , whtch shall not be unreasonabry withhe►d. If Bortower tails to mahntaln coverage descnbed above, Lender may,at Lende�s � • �
<br /> option,obtain eove►age to protect lenders rights tn the Property in accordance with paragraph 7. . '. �
<br /> �. . All insurance poticies and renawals shail be accepteble to Lender and shall Inciude a standard mortgage clause. Lender
<br /> shall have!he right to hold the polkies end renewals. If Lender requtres. Borrower shall promptiy give to Lender ail receipts ot . ,
<br /> - •• � patd premiums and renewal notices. in the event of toss. Borrov�ar shell give prompt notbe to the insufanCe carrier and Lender. �
<br /> � Lender may make proof of toss M not made promptly by Bortower. , � .
<br /> '� t Uniess Lender and 8orrower otherwise agree tn writing, insurance proceeds shail be applied to restoration or repab ot the • .
<br /> ' PropeAy damaged,H the resioration or repatr is economicalty feasibte and Lenders securriy is not lessened. If the restoration or �
<br /> repab is not economicaity teasible o� Lenders security would be tessened,the tnsurance proceeds shali be applied to the sums
<br /> .", . secored by this SecurRy Instrument, whether or not then due, with any excess paid to Bortower. If Borrowet abandons the ,
<br /> Property, or does not answer within 30 days a rtotice tram Lender thet the InsuranCe cartier hes oNered to settte a ctaim,then . . .
<br /> � Lender may collect the insuranCe proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums •
<br /> ' � seCUred by this SeCUriry InsWment,whether ot not then due. The 34day perlod will begin when the natke is given. .
<br /> Untess Lender and Bortower othervvlse agres In writ�ng. any application of proceeds to princtpai shail not extend or , �
<br /> , postpone the due date of the monthty payments referced to In paragraphs t end 2 or change the amount of the payments. �t � . .
<br /> � under paragrgph 21 the Property is aCquUed by Lender, Bonowers right to any insurance policles and proceeds resuRing hom
<br /> ' � damage to the Property prlor to the acquisition shall pass to Lender to the extent of the sums by this Security InsWment �
<br /> ' immediately prior t0 the aCquisRion. �
<br /> 6. Occupancy, Preservatlon, Malntenartce and Protectton oi the Property; Borrower's Loan .
<br />,_ , , Applic�Uon; LeSSBhOldB. Boaower shalt occupy, estabtish,artd use the Property as 9orcowers princ(pal resldence within • �
<br /> , � . sbcty deys after the execution ot this SeCUrity InstNment and shal) Cont(nue to oCCUpy the Property as Bortower's prmCipei
<br /> ' • r�sidence for at least one year after the date of occupancy,unless Lender otherwise agrees in wrRing, whiCh consent shall not y �
<br /> � be unreasonably wRhheid, or uniess extenuating CirCUmstanCes exist which are Ceyond Borrower's ConVol. Bonower shail not {
<br /> • � destroy, damage or impair the Property,allow the Property to deteriwata. �t commit waste on the PropeRy. 8orrovrer shall be in � .
<br /> ' default A any foAe�ture action or proceeding, whether c'Nil Or criminal,is begun that in LendePs good fa:'1 Judgment could resull .
<br /> � • . in fGdeiture oi the Property or othe►wise meterlally impair the Iten created by this Securitp Instrument or LenCer's Security Interes4 .
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