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<br /> .. . . `" � BORROWER COVENANTS Wat Bortawcr is lawtully s�eised of We estate herehy oomrey�and has the n t w " ' ,.
<br /> � ° �: � grant and ooavey the Pcagerty and Wat the Propercy Is nneacumDere�.essept for eacuinbisuoes of reaord. Bflrrower �, •��.
<br /> ` ; wamants aad vrW dcfend generally the tltle to the Property a�;ainst all c�aims and demands,subject to any en�vmbranoes i`� . � ,' �
<br /> . of reaord �_ .
<br /> � . , 'I7�LS SECLJRTfY INSTRUMENT wmbiaes�niform mveaants for natfonal use aad noa-uniform c�awenants with _ ;
<br /> � � ` limited vadations by jurisdiction to oonstitute a e�niform security instrum�t oovering reai propesty►• k. , . • ..
<br /> . �
<br /> � [j LfNIFORM COVENAN'i'S. Borrower aad Lender aovenant and agtee as follaws: �.� � � ,
<br /> . � .. ,± 1, p a y m�n t o i P r i�p a).I n t c a c st aad iate� Boimwer sl�all pay when due the principal o�and interest •
<br /> �_' ' on,the debt evideaced by the Note and iatc charges due under ihe Nete. � � � .
<br /> ' ` �.. ; Z Monthty�aymc�t of'I'�es.taguian�.aad Othe�($arge� Borrower shaU inclnde in eacb montWY P�n� � :
<br /> -.-.-�- - -`�` ta gether with the princl pal and iaterest as set forth in�he Note and any tate charges,a sum for(a)taaes and specFal �
<br /> � ---�-'= ,,', ,�._�
<br />- � � .; a�sments tevied or to be levied against the Propercy,(b)Ieasehotd payments or ground rents oa t he P r operry,an d � —
<br /> . , � ' (c)premiums for insuranae required under paragraph 4. In any year ia which the Lender must pay a mortgage .;
<br /> . insurance premium to the Secretary�of Housing and Urban Devetopment('Secretary').or in any yeat in which such � �
<br /> .. * preminm woutd have been reqalred if Leader st3ll held the Securlty Iastrnment,each monthly payment.shatl also . , �. �
<br /> iaciade eiWer.(i)a sum for the annual mongage lnsarance preminm to be paid by Lender to the 5ecretary,or(i�7 a f � - . ,
<br /> ;' � montflly charge iasiead of a mortgage insivaaae premium if this Secarlty Iasuumeat is hetd try the Secxetary.in a �.... . .
<br /> . ` ; reasonable amount to 6e determined by the S�retary. Eacept for the month[y charge by the 5ecretary,these�tems ;�,�,- :
<br /> ' . are calie�°Escrow Items°aad ths Sams paid to LeIIder ate c�lled'Fscrow Fwtds.° ` _,. :,�=_:•:
<br /> � Lender may,at any tlme,rollect and ho2d amonnts for Fssrow ltems in an aggregate amount not w exceed the : .;�s�.._.
<br /> � m�mnm amount t6at may be reqnired fnr Borrower's escraw account under the Real Fstate Settlement Fiooednres � �""�`
<br /> . . • ' Act of 1974,12 US.G§2601 et sen•and implementing regutat�ons,24 CFR Yart 3500,as they ntay be amcntted itom :�� �,_:
<br /> , • time w time(`ZtFSPA7,except t6at the a�sh�an or reserve permitted tsy RFSPA for unanticIpated disbursemenis or ,."�
<br /> . :,�_,
<br /> . disbursements befote tfle Borrower's paymeats are availab2e Ia the accaunt may not be based on amounts due for the �;-s-
<br /> �, � mortgage insnrance premium. +'�ir'_
<br /> _ � _ If the amonnts held by LtKtder Wr Fscraw Items egcced the amounts permitted w be hetd by RESPA,Lender shali c T�-
<br />_- accoant to Borrawer far the escess fonds as required bl+ItFSPA If the amonnts of fnnds held by Leader at aay time �---,�'��.;:
<br /> ..F;_.r
<br /> are noi suffident to pay the Fssr�w Items a h c n du�L e n d er may n o t l f y t h e B o r m w e r a n d r e q n i r e B o r r o w e r t o m a k c ` ��
<br /> �- . . - up the shortage as permitted by RESPA �� �--
<br /> I �
<br /> � !'r'--. -�,.-:
<br /> a: ' . . ;. 'Phe Fszraw Fnnds are p2edged as additional securIry f o r a D s u m s s e c.u r e d by t h i s S e c u r Ity I n s s r u men t I f Bo r r o w e r :�_.
<br /> tenders to Lender the fall payment of all such sums,Borrower's aaaunt shall be credited wdth the balance remaining _ . _:�sr.�`.
<br /> .�_�.
<br />- for ati i�tallment items(a),(b),and(c)and any mortgage insuiance preminm instailmeat that Leader has not beoome ;�,�,:,4
<br /> r ' obligated to paq to the Secretary,and Lender shall promptly refiznd any egcess funds to Borrower. Immediately prIor , .��:�;
<br /> � to a foreclasare sate of she Praperty or its aoquisition by Leader,Borrawer's acconnt shall be caedited with any balance a,•�.�.�
<br /> ,..-
<br /> ? � remainirsg for all installments for items(a),(b),and(c). ?�
<br /> : 3 pppli�ation af paqm�ts All payments uader paragaphs 1 and 2 shall be applied by Lender as follows: ���,�-�.�.''
<br /> i . , �''�'.��
<br /> � � F,�S ,to the mortp�ge inswauce premium to be patd by Lender to the Secretary or to the;nonthly charge by ttie • t ;
<br /> . ' Secretary inscesd of the monthty mortgage insuraace premium; '. �.� .u'�:��'�
<br /> . SECOND.to any taxes.special assessments.leasehold paymenis or ground reuts,aud Sre,flood attd other hardrd �,'._�.
<br /> insnrance premiums,as required; -a. �;,
<br /> :� � • . THIRD.to interest due wWer the Not� .. �__
<br /> ` FOUR to amorti�atIon of the princIpal of the Not�and - . •,�°_�:,:�
<br /> FIFTH.to late charges due under ttte Note. ' . .. '.;;,,
<br /> -" .�..,.
<br /> � 0. F'�Flood and Other Ha�rd Insmanc� Borrower shall insure a11 improvements on the Properry,whether � . „
<br /> � • , now in eaistenoe or subseguently erected,ag,ainst airy ha�rds,casualtIes.and contia„encIes,including ffire,for whkh � :�"';�
<br /> Lender requires inswance. 'Ibls inswauce sLaU be maintaItted in the amounts and for the gedad5 Wat Lender "�-'z'
<br /> .� ��.,
<br /> requires. Borrower shall atso Insure aU Impravements on the Property,whether naw in existence ar sabsequentiy �° �=
<br /> . .. � . erected,against loss by floods to the estent required by the Secretary. All insurance shall be carrie4 arith companies . f•.,.��
<br /> - approved by Lender. The insurance pollcles and any renewals shall be held by Lender and shall include loss payable •
<br /> � clauses in favor o�and in a form acceptable to,Lender. • ��
<br /> • � . In the event of loss,Borrower shaU gtve I.ender immediate notice by mail. Lender may make proof of loss if not .
<br /> � � made promptly by Boaawer. Each insurance wmpauy wncerned Ls hereby suthortzed and dtrected to make payment � � ,
<br /> � � . for such loss dicealy to Lender,instead of w Borrower and to Lender jointly. AU or any part of the iasuranoe ,. .
<br /> . proceeds may be applIed by Lender,at�ts option,either(a)to the reductioa of the indebtedness under tite Note and
<br /> � ' thls Securlty Instrument,i7rst to any delinquent amounts appHed in the order in paragraph 3,and then to prepayment � '�. � . .
<br /> . '': of principal,or(b)to the cestoration or repalr of the damaged Property. A�r applIcation of the proceeds to the ' � �'
<br /> �� i princlpal shall aot extead or pastpone the due date of the monthly payments which are refeaed*_o In paragraph 2.or • ' •
<br /> change the amount of such payments. Any excess insuraace prace.eds aver an amount requued to pay all outstanding � � : �
<br /> ! . lndebtedness under the Note aad thls Secudty Instrnment shall be paid to the endty legally entitlyd thereto. . • �•
<br /> � � In the event oP Poreclosure of thls Secvrlty Insuument or oWer transfer of htte to the Property tirat extingulshes •• .
<br /> We indebtedness, all rlght, tide and lnterest of Boaower ln and to insurance policies in force sha11 pass to the
<br /> " � parchaser. . . �
<br /> g, p�sy, Pr�nration, �� and Protection of We Property; Borrowet's Loan Applisation;
<br /> � Leaseho2ds Borrower shall oaa�py,establish,and use the Property a5 BorrowePs principal residence within s9xty days
<br /> � � after the execution of ti�3s Securlry Inswment(or withln slaty days of a later sate or uansfer of the Properry)and shall ' �
<br /> :+ continue to occupy the Propeny as Borrawer's princlpal residence for at teast one year after tlte date of occnpanry,
<br /> � unless Lender determines that requirement wlll cause undue hatdshlp for Borrower. or untess extenuating .
<br /> • i circumstances adst which aze beyond Bonowet's control. Bonower shall notify I.ender ot any extenuating � � .
<br /> . � NFBRA4K/4-i�}lA DSBD OFIRU3P -- � .
<br /> n«„mem s�«�.u��soo�asviwx Page 2 of 6 .
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