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<br /> TOfiETHH�WITH a�the QnDmvaments now or Rereafter erectad on the 9roP8rtY. and aU easements. aDAurtanances. and �� `..�, �� , .
<br /> � • fn3ires now or hereafter a part ot the property.lW replaeements end add�ions shall atso be covered by tAis Se+�uriqr Inshvment , .` `.` '
<br /> - — - Au ot the foregoing Cs refarred to m thfs Securty insuument as tne�Property.' .� . - �.
<br /> 80RROWER COVENANTS that 8ortower is tawfutry selted of the estate hereby canveyad and has the right to grant end .� � ��
<br /> ' � � comrey the PropeRy and that the PropertY is uaencumbered.exceAt for encumbr8nc� ot recard Borrowa�warrants end will `4 t ;•
<br /> detend generauy the tdte to the Rroperty a9sinst a8 eiaims end demands,subject to any encumbrences of record. • � ; ,
<br /> '' � THIS SECURRY INSiRUMENT combmss undorm covenants tor �attonat use and r.ort�unaortn covenants with funited • -
<br />... ' variations by jurisdtctton to constitute a undortn security instmrt[e►�t covedng rea�ProPBnY• � ` ..
<br /> : � UNIFORM COVENANTS. Bortower end Lender coveneM en�fit 8Rd�LBLE Ch81g88. BortOwer shaD PromPUY Pa5►when �- ( ..� .
<br /> . . ' 1. Payment of Principal and Interest; Pre�aym �_� t ' . .�..
<br /> due the P�GP�at and interest on the debt evideneed by the Note artd any PreDayment and Iate chatges due under the Note. t c .
<br /> � �� � 2. Funds tor Taxes and tnsurance.S1ibJect to apAlxaDte laW cr ta a wrttten waivar by Lender,eortawer shau pay 6 t. . . , �:.
<br /> - to Lender on the day moMhy payments are due under the Note, until the Note is paid m full.a sum('Funds°)for. (a)yearly i � � ti,<
<br /> - _ _--- taxes and assessmenLS whiCh may attart� prior+ty over this Securdy Instrument as a i'�n on the Property: (b) yeerty Ieasehotd p
<br /> - - -_- .T - payments ur ground rents on the Property. if any: (o)yeartY hazard or property insurance premams: (d) yeary flood insuranee � � _i_:L-`�_-_:
<br /> � premiums.if any:(e)YearlY mortga9e insurance premiums.if any:end(�any sums payabte Dy 8ortower to i.ender m accordance � T �
<br /> ` witA the provisions of paragrapfi 8, m lieu of ttie payment af mortgage u►surence premiums• These ftems are caUed "Escruw � ,
<br /> . • Items.' Lender may,at any time,coQect and hotd Funds in en amount not to eYCeed the meximum amount a lender tar a � � �' �
<br /> � tederalty reiated mortgaqe toan may requua tor Barrowe r's escrow accoun t un d e r t h e t e d e r a l R e a!E s t a t e S e u t e m e n t P r a c e d u r e s �,A_ . ��
<br /> Act of 1974 as emended from tene to tQne.12 U.S.C.�2601 et seq. ('RESPA�). unisss artother law that epDlies to the Funds
<br /> ' � � ssts a iesser amount if so,l.enCer may,at any tune, coifect and hotd Funds in an amount not to mcceed the fesse�amount • 4 .�h
<br /> • • Lender may estimate the amoient of Funds due on the basis of cument Qaffi and reasonable estcnates of e�endiWres of future .
<br /> - Escrow Items or otherwise�aecordance wdh appi'�cab�e law. ,, • L��
<br /> The Funds shall be held in an rt�st7hitlnn whose deposits are insured by e federat agency.instrumentafdy.or entny(eeCtudmg ,- ' ��,;_„--,:
<br /> Lender, it Lender is such en instduttan) or In any Federal Home Loan Bank. Lender shaq apply the Funds to pay the Escrow t .� ,;� _
<br /> . `� Items.Lender may rtot charge Bortower for holding and appiymg tlie Funds,annualry anahaing the esaow account,or verifymg ':?:�__
<br /> � the Escrow Items. un�ss Lender pays Borrower interest on the Funds and app6cabte law pertnits Lender to make such a • � ,
<br /> ° . charga However, Lender may require Bocrower to pay a onaUme charge for an mdependent rea! estate tax repoRing servtce , _, '.'�-.
<br /> • ..:j used by Lender in cannection wfth this loan, unless appGCab►e Iaw provides otherwise. Unless an 8greement is made or ,..� � ; .� �_
<br /> ,� _, appGCabte taw�equhes �nte�est to ba paid,Len�r shali not be requlred to pay Bortower eny interest Ot eamings on the Funds. �. `_,i.__.yi,�_
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<br /> ^'• Borrower and Lender may agres in wrftin9. however, that inierest shaU be pald on Me Funds.Lender sha0 give to Borrower. . —
<br /> ; mrithout charge,en annual accounting ot the Funds, showing cred�s and debits to tt►e Wnds end the purpose tor whicfi each � ';._:_"
<br /> ,. i debft to the Funds was made• The Funds ere pled98d as add�ionsl SeCUrdy fOr 811 sums secured by the SeCUrity Instrumen� _ � � _•;,�}.
<br /> � � G�:`.� It the Funds held by Lender exceed ffie amounts permitted to be held by appiicabte law.Lender shaA account to Bortower ' ��
<br /> for the m�ess Wnds in accordance with the requUements of appticabie law.it the arriount of the Funds held by LenQer flt eny ;..�'��'._�
<br /> � ';� time is not sufticient to pay the Escrow Items when due,Lendar may so notifyr Borrower in writtng,and. in such case 8ortower ?/� �
<br /> . � shatl pay to Lender the amount necessary to make up the deRcfency. Bortower sha0 meke up the defic(ency m no more then ' °, 1;�-,�-`+:°`
<br /> .� '!: tweNe mnnthty paymerrts,at Lendels sote discreUon. -- �'�"�
<br /> , • Upon payment fi fu0 of all sums secured by this Securdy Instrument,Lender sha8 promptiy refund to Bormwer any Wnds ��_
<br /> • • . hetd by Lender. lt,under peragraph 21,Lender shall acqui�e or sell the Property,Lender,prior to the acquisftfon or sate of the . .' �__--
<br />"i . PropeRy,shali appty any Funds hetd by Lender at the time ot acqu(sRion or safe as a cred'R against the sums secured by this . , ��-=:
<br /> . . Security Instrument , +f{�
<br /> � . , " 3. Applicat�on of Payments. untess apa��aoie taw provides otRerwise. eD peyments reCeived by Lendet unQer _ •'r. � ,;:__
<br /> :.,;-i-- —
<br /> ' paragraphs 1 and 2 shall 6e appited: flrst, to any prepaymant charges due under ttie Note; second,to amounts payabie under , ,; __
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<br /> • paragraph 2:thkd,to interest due;fauRh,to principal due;and last,to any Iate charges due under the Note. ._ �G_,�
<br /> �. • I 4. Charges; Li@D9. Bortawer shati pay all texes. assessments, charges, ftnes and imposi�ons attr�bulabie to the
<br /> r•.:�g,.:_.
<br /> _ � PropeRy whiCh may attau►psiority over thts SeCUrity InsCumen�and teasehotd p8yments or ground rents,if eny. BoROwer shall . =:,,;�,.
<br /> �. � pay these obQgaUans � the manner prwided in paragrayh 2, or H not patd in that manner, Borrower shaA pay them an time
<br /> � -- directy to the person owed payment. BoROwer shaU promptfy fumish to LenQer all noUces of amounts to be paid under thts _,
<br /> � paragraph. If Bortower makes these payments dtrectly, Borrower shali prompty fumtsh to Lender receipts evtdencing the =u`,:.
<br /> . , payments. , . �,��.;;'
<br /> . • � �. . Borrower shall promptry discharge any I�en whlch has priority over thts Security Instrument unless Bortower. (a)ag2es in • , �.
<br /> � writuig to the payment of the obl'igation secureA by the lien in a manner&cceptable to Lender, (b)Contasts in good taftt►the �'��'.
<br /> k` ' ' lien by, or defends against enforcement of the lion in, legat proceedings which in the Lenders opinion operate to prevent the ; s�.
<br /> � enfOrCement of the lien; or(c) secures irom the holder ot the lien an agceement satistactory to Lertder SubordinaUng the lien to . . , _
<br /> � this Security Instrument.tf Lender detertnines that any part of the Property is subject to e lien wh�h may attain priorRy over this .. ..
<br /> . � SeCUrity Instrument,Lender may gNe Barrower e notice identitytng the Iien.Borrower Shai198tisty the It�n Or take one or more of • '• �.-
<br /> • the actions set forth above wRhin 10 daya ot the gtving ot noNce. ,: -
<br /> � � 5. Hazard or Pro�erty Insurence. Bortower shatl keep the Lmprovements rtow wdsting or hereaftet 8r8Cted on the . . J.,�
<br /> ��' Property insured agah�st lass by fire, harards inc�ded withm the term "extended coverage"and aey other hazards, tncluding
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<br /> � � floods or flooding,tor whtch 1.ender requtres insur8nce. This insuranCe shall be maintained in the amourtts and Sor the perioQs • .
<br /> � . '�� � that Lender requ(res. The insurence carr�er providing the insurance shall be chosen by BoROwer subJect to Lendefs approval .
<br /> � . which shail not be unreasonably withhetd. It Borrower taits to maintain coverage descnbeA above, Lender may, at Lenders .
<br /> � option,obtain Coverage to protect Lenders rights in the Prop�rty in accardanCe wRh paragraph 7. "
<br /> � A1i insurance policies and renewals Shail be acceptable to Lender and sha0 InCiude a standard moRgage ctause. lender _ ,
<br /> i shall have the right to hold the paticles and�enewals. ft Lender requUes,Borrower shail promptly give to Lender all rece�ts ot � .
<br />� '1' paid premiums and renewal notkes. In the evant of loss,Borrower shall give prompt notice to the insurance carrier and Lender. . -
<br /> j Lender may make proof of loss H not made promptiy by Bortower. "��'� •
<br /> � s Untess Lender and Bonower otherwise agres in writing, i�surance proceeds shall 6e applied to restoratlon or repair of the . . •
<br /> � '� :� Property damaged,H the restoration or repaU is economicaly feasible and Lenders securiry is not lessened. tt tha restoration or
<br /> ' repaU is not eeonomicalty feasihte or Lenders security would be tessened,the irrurance proceeds sha0 be applied to the sums
<br /> �=� _ �� secured by this Securlry Instrument, whether or not then due, wfth any excess paid to Bortower. If Borrower abanQOns the i.
<br /> • Property, or does not answer within 30 days a notice hom lender that the insuranCe carrier has oNered to seftie a ctaim,then .
<br /> � � j Lender may col►ect the (nsurance proCeeds. Lender may use the proceeds to repa'v or re5tore the Property or to pay sums - ,
<br /> � � � secured by this Security Instrument,whether or not then due. The 3aday petiod will begin when the notke is given. '
<br /> Unless Lender and Bonower othervvise agree in writing, any applicatlon o1 proceeds to principal shall not extend or
<br /> postpane the due date of the monthy payments re}erced to in paragraphs 1 and 2 or change the amount of the payments. It ,
<br /> � � under paragraph 21 the PropeAy Is acqutred by Lender, Bonowers right to any Insurence policies and proceeds resulting hom :
<br /> damage to the Property prlor to the acquiskion sh811 pass to Lender to the extent of the sums by this 3ecurity Instrument
<br /> immediately prior to the acquisitlon. . '.
<br /> 6. Occupancy, Preservation, Maintenance and Protectton of the Property; Borrower's Loan .
<br /> � � � Application; L¢8S8h01d9. 8ortower shall accupy,establish, and use the Praperty as Bortower's Ormcipal residence withfi . • '
<br /> -, � i sixty days after the execution of this Security Inst�ument and shatl continue to occupy thA Property as Borrowers principal
<br /> � residence for et teast one year after the date o}occupanCy, un►ess Lender otherwise 8grees In writing, whlch consent Shall not •
<br /> ' ; be unreasonably withheid,or uniess extenueting cirCUmstenCes exist whiCh are beyond 8onower'S ControL Bortower Shell not �
<br /> - destray, damage ot impatr the Prop9Ry.allow the Property to deteNOrate, or Commit weste on the Property. Borcower shall be in �
<br /> ' detauit il any toAeiture action or proceeding, whether civil or criminal, is begun that in Lenders good taith Judgment could resuR T . .
<br /> � in todeRure ot the Property or otherwise materlatty impair the lien created by this Securityr Inst►ument or LendePs securRy mterest. � •
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