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<br /> l ` t. .�{� - • • n ar heresfter ereded an the ro e and aD Pasements.ePAwtenanca9.and �, 't � s`�°
<br /> � TOQE7HH9 WITH a�the improvemerts ow P P nY•
<br /> • . � fixques rtow or hereafter a paR oi the property.AU reptacemenfs end addftions shall atso be eovered by this SecuAfy trtsbumer►L . �.� -`, . .
<br /> red
<br /> � All of the toregaing ts referted to in thts Seeu�y tns�ume�!as the'Property.' � . �r , E•. .`'
<br /> . BORAOYVHi COVENANTS that Borrow�is lawfutly►sezed of the eatate h�eby conveycd and t�as the dgM to �ar►t ar.d� E� < �.
<br /> � convey the Rropery and that the Properry is unencumb�ed, excePt tor enwmbrance.a of record. Borrower wartants and wiD ' k` ��� ._ , .
<br /> � . � ` ddend genera�y the titte to tt�e Froperry egainst all daJms and demands.subje�to arry encum6ranees oi record. � . . �,� `�. .
<br /> , 1H[S SECURI*Y INSTRUMENT combines nnUorm covena�►ts tor na41ona1 use and non-unNorm eovenants wtth 8m(te$'� - �..
<br /> • � " r vari�ions by judsd►dion to constiWte a undatm security tnsVum�t cover(ng real ProP�Y• O ` .
<br /> � UNlFORM COVENlWTS. Bortower and Lender e�renant and egee as fo�ows: '. �
<br /> , e
<br /> : . , � 1. Payme�of P�incipaf anel Irtteres� PrelPaymeM and Late Chargea eomow�sheu p�omptN pay wnen . ' +<-. ..
<br /> ; � ' due the pdndpal ot ettd irterest un the deb2 evid�tced tsy ihe Note end erry prepaymerrt and late charges due under the Not� �
<br /> .. 2. Ftinds for Taxes�nd (nsurance.Subject to appGrabte law or to a wriuen wahra by lender, Bortower shaU pay `
<br /> . � �` , to Lender on the day monthy paymerrts are due under the Note,until the Note ts paid in full,a sum ('Funds')tor. (a) yearty� �� ` ..
<br /> taxes artd assessmmrts whfich may atfain Prioriry over this Securtty Insrtument as a Qen on the Properry: (b) Yea►h/teasehotd
<br /> � - ---°... Payments or ground re.nts on the Praperty. ii any: (e)YeartY hazard or property fnsurance premium� (�YeariY 400d insurance
<br /> - -- - : premfums.if any,(e)Yearty muRgaSe insurance premhlms. H any:and(ij erry sums payabte by Bor►owe►to Lertder fi accar�tn� _ ,
<br /> � . wRh the pmvistons ot paragraph e. in 6eu of the paymerst of martgage insurance preadums. These nems are calted 'Escraw �; ��` . .. . - �
<br /> � items.' LendeJ may, at arry t6ne, co9ect end hoid Funds in an amourrt not to exceed the maximum amount a tender for a ,� t - _
<br /> ". fed�aUy related mortgage loan may requtre for Borrowe�s escrow account unde�the tederal Real Estate Settlement Procedure.s . . �' `�
<br /> � � Act of 18T4 es amended from tlme to tima. 12 U.S.C..�2601 et seq. ('RESPA'). untess aaother law that appQes to the Funds �
<br /> - sets a tesser amount If so. Lender may. at any ttm�coDed ai►d hold Funds in an amount not to exceed the tesser amoun� ��� � �
<br />- ' . - I.ender may�e the amount of Funds due on the basis of curtern data and reasanable esUmedes of e�endihues of tuhire �� `�'° '° _�
<br /> ` � � Escrow ttm�s or othernise in accordance with sppii�caa6le taw. , � ;
<br /> ' " The Wrtds sha0 be heid in an tnstitutton whose d�asits are insured by a fedeal agertcy,instrumerrtal�y►.or er�y(inctudGeg ; > ,�`:
<br /> �; � � � Lender, if Lender Is sact►�inst�tion)ar tn any Federal Hame Loan 8ank. Lender sheQ apPN the Funds to pay the Escmw . .•,-�p,
<br /> � items. Lender may not charge Bortow�for hotd'mg and apptyfng the Funds,ennualy analyling the e.scraw accau►ft, or veritying �`:'-�_.,
<br /> ' , the Escrow ttetns, ttntess lender pays Borrow� interest on the Funds and applimble Iaw permits Lender to make such a .; f: °•�
<br /> � ,. charga However. Lender may requtre Borrower to pay a onetime charge tor an independent real estate tax repordng s�vi� —
<br /> , used by l.�der in connectlon wiih thts toan, unlc�ss appQcxbte law pmvides otherwise. Unless an agreem�t is made or • .
<br /> - � ' � appliceble Iaw requires interest to 6e paid Lender sha7 nat be required to pay Borrawer arry 6rtErest or eamings on the Funds. ,:'�_�
<br /> � Borrower and Lender may agee In writing, however, that tnterest shaA be paid on the Funda.Lender sbaU gtve to Borrawer, __
<br /> ' without charge,an annual accounttng ot the Funds, shawisg raedifs end debits to the Funds and the purpose for which each • ' �;�,_:
<br /> - . de6ft to the Funds was mada The Funds are,p►edged es add'Nonal seamry tor aU sums seaired Dy the 8ecurity Instnunettt. _. _ �=,,�;,
<br /> � � • If the Funds heid by Lender exceed the amounts perm(tted to be held by eppiicable faw.Lender sfiali account to Borrower •— .
<br /> � � � br the excess Funds in ac�ordance with the requirements of appQcabte Naw.If the amount of the Funds held by Lender at srry . 't
<br /> suflicient to the Escrow Items when dua Lender may so notHy Barrower tn wr(ting. end. Tn sucb case Borrower , . . .•�`��-�
<br /> . ; ttme is not Aaf/ � •,;',,
<br /> .�:� shad pay to Lertder the amaunt necessary to make up the deftdency. Borrower shail make up the deftdency fn no more than . : �� _s
<br /> - • -• . ` tweive monthly Payments.at L,aider's sote discretion. �:��.':'�`-
<br /> Upon payment in fuN of aU sums secured by this Security tnstrument, Lend�shall promptly refund to Borrower any Funds _ ""�``' ` �.-;.�
<br /> .r.:��
<br /> • • hetd by Lender. If,under paragrapb 21, Lender sha0 acqutre or sell the Property.Lender,pdor to the acqu:sftion or sata ot the � ✓",y,�_
<br /> � • Property,shall appty any Funds hetd by Lender at the Ume of acquisttion or sale as a uedrt a¢[nst the sums secured by this ; �,��;
<br /> . Secur(ry Instrumern. � .;�`�,�v
<br /> . 3. AppQt�ttlon of PSymer�ts. un►ess applicabte law pmvides otherwise. all payments received by Lender under . -_
<br /> � � para�aphs 1 and 2 shatl be applted: first.to arty prepayment charges due under the Note; second to amaunts payable under : ',-•-�
<br /> � paragaph 2:thlyd,to interest due;t ou r t h,to p dn dp a l due; end last.to any�ate eh az g e s due under the Note. � • �•;-�—�
<br /> � 4. Ch�rgB� Li9ns. Borrower shall pay all taxes, assessmeats, charges, fines and imposttfons aitributabte to the ,
<br /> � Property whicfi may atta(n pdority over thts Security Instrument and leasehotd payrt:ents or�ound reMs,if arry. Bortower shail �"
<br /> � pay these obi(gatfons in the manrter provtded in paragraph 2. or H nat paid in that manner.Borrower shall pay them an Uma . t���
<br /> . d(rectly to the person awed paymeM. Borrowe►shaU promptly tumish to Lende►ail notices ot amounts to be paid under this � _• �� ::;;rl.
<br /> � , . . pazagraph. If Borrower makes these payments directhl. Bortower shall prompiiy fumish to Lender receipts evldendng the -_"_
<br /> paymertts. . �s?•'
<br /> � � BoROwer shall pmmpUy discharge any Oen which has priority over this Security Instrument unless Borrower: (a)agrees tn � " -
<br /> ' , � ' ' writing to the paymc�nt of the obligaUon secured by the Iten in e manner acceptable to Lender, (b)contests In good faith the ! -�-
<br /> .,...
<br /> . • Iien by, or defends against enforeement of the Iten m, legal proceedings which in the Lenders opinian operate to prevent the "•.'����:
<br /> � entorcement ot the Iten;or(cy secures from the hoider of ihe Ilan an agreement saUstactory to Lender subordinaUng the(len to . ^ __
<br /> ' ' � this Secudly InsWment It Leeder detertnines that eny part o1 the Properry is subject to e Ilen whtch may at[ain ptlorily aver this -_
<br /> `� Secur(ry tnstrumenL Lender may give 8orrower a noUce identity(ng the lien.8orrawer sha0 saUsty the Ilen or take one or more of , .--_-
<br /> , . j tfie actlons set faRA above w(thin 10 days o1 the ghring of noUce. . � , .
<br /> 5. Hazatd or Property insurance.Bosrower shall keep the improvemenis now exisUng or hereafter erected on the • .
<br /> �� Properly insured against Ioss by ftre, hazards inciuded within the term'e�dended coverage'and any other hatarda, includ(ng .
<br /> . , --_ -. -��.� floods or tlooding,tor whl�h Lender requires Insurance. This insurance sha0 be maintelned In the emounts end for the periods
<br /> . that Lender requires. The insurance carrier providing the insurance shell be chosen by BoROwer subJect to lender's approval .
<br /> ' ' ' . which shall not be unreasonabiy withheid. N Borrower fails to matnteln coverage descdbed above. Lender may, at Lender'e , � . ..
<br /> " � �� opUon, oblsin coverage to protect Lender's dghts in the Property In accordance wKh paragaph 7. •
<br /> Atl insurance pollcies end renewals shaU be acceptabte to Lender end shall inctude a standerd mortgage ciause. Lender
<br /> . ahall har•e the dght to hatd the pollcies and renewats. If Lender requtres, Borrower shall promptty give to LenCer all receipts o1 . � • �
<br /> , � .' pald prem(ums end renewal noUces. In the event of loss. Bortower shaA give prompt neUce to the Msurance cartier end Lendec • . •
<br /> � � � Lender may make proot o1 toss if not made promptty by Borrower. ,
<br /> � Unlesa lender and Bortower otherwlse agree in writing,insuranee proceeds shall be apptled to restoration or repair of the . . .
<br /> .'-, PropeRy damaged. H the restoration or repalr is economicalty teasible and Lender's securfty is not lessened. If the restoration or � '
<br /> . repair is not econom�caity teasibta or Lender's securriy woutd be lessened.the insurance proceeds shall 6o applled to the sums . __ "_ ,
<br /> � � secured by this Security instrument. whether or not then due, with eny excess paid to Bortower. I} Bortower abartdons the
<br /> , Property,or does not answer within 3D days a noUce irom Lender that the Insurance carrier has oHered to settte a c(aim,then � �
<br /> '. • Lender may coilect the insurance proceeds. Lender may use the proceeds to repalr or restore the Property or to pay sums . .
<br /> sewred by thla Secudty tnstrument,whether or not then due. The 30�day pedod will begin when the noUce ta given. '
<br /> � Untess Lender end Borrower othervulse agree in wriUng, eny appticaUon o1 proceeds to pdncipal shaU not extend or . •
<br /> � postpone the due date of the monthly payments referted to in paragraphs 1 and 2 or change the amount of the payments. H .
<br /> undcr paragraph 21 the Rroperty Is ecquired by Lender. 8orrowePs right to any Insurence policles and proceeds resulUng from
<br /> damage to the Property prior to the acquisWon sheil pass to Lender to the extent ot the sums by this Secudty Instrument
<br /> 1 immediatety prlor to the acquisiUon. . .
<br /> �{ 6. Qccupanay, Preservation, Maintenance and Protection o4 the Property; Borrower's I.oan
<br /> i Appiication; Le8Seh01d9. Borrower shall occupy. esteblish, and use the Property as Bortower's principa!residenas within . �
<br /> . •�� sixty days aRer the execuUon o1 tnis Security Instrument and shall contlnue to oecupy the PrapeRy as 8orrowers principal •
<br /> �, residence tor at least one year after the date ot occupancy. untess Lender othervvise agrees in wtiting, which consent shall not
<br /> .��� be unreasonebly withhetd, or untess extenuaUng circumstances exist whleh are beyond Bortower's conVOl. BoROwer shall not
<br /> ��,� • I destroy, damage or impalr the Praperty.allow the Property to deteriorate,or commit waste on the Property. Borrov�ar shall be ln
<br /> _� � delauft it any toAeiture action or proceeding. whether dvit or crlminel. Is hegun that in Lender's good tafth Judgment could resuR
<br /> . � i in toRelture of the Property or otherv�ise materialy impair the lien created by this Security Mstrument or Lender's security interest.
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