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<br /> ! TOOEfH�i WITH a0 the improvements now or hereaRer erected on the property. and all easements. appurtenences. and ^ . . --—
<br /> � foRures now or hereafter a part ot the propeRy.Att replacements and additlons shall also be covered by this Securit}e Instrument , � -
<br /> ; M of the foregoing ia referred to in this Security Instrument as the 'Praperty.' �
<br /> ; BORROWER COVENANTS that Borrawer Is IawfuLy seizad of the estate hereby conveyed end hes the right to grant and � ' � �{._
<br /> � � convey the Properiy and that the PropeAy is uneneumbered, except for encumbrances of reccrd. Borrower wartants end w(il ' �'
<br /> i �� dsfend ganeraUy the tiUe to the Property agalnst aU daims and demands,subJact to any enambrances ot record. �`
<br />. (� THIS SECUAITY lNS'TRUMENT combtnes unitortn covenants tor national use and notwnttortn covenants with limited `
<br /> ; � vartatiana by jurfsdlcdon to wnsUhiie a unRorm securtry k�strument wverinfl reat properly. , , . , —•
<br /> � UNIFOAM COVENANTS. Borrow¢r and Lender covenent and agree as toDows:
<br /> �{•. i.Payment of Principa! and Interes� Prepaymen!and Late Chargea.Botrower shell prompUy pay when �,
<br /> ; due the prindpal ot and interest on the debi evtdenced by the Note and any prepaymen2 and late charges due under the Note. -
<br /> � � 2.Funds for T�xas and Insura�ce.Subject to appflcable law or to a wtitten waiver by Lender,Barrower shaq pay � �
<br /> � to Lersde on tha day manthy paymEnts ere due under tha Note, uN11 ti�e t�ote Is patd in fua, a sum (•Funds') for. (a) yeariy � � ,
<br /> � Lvices and assessments which may attafi priorfty over thts Securfry Instrument as a �en on tha Property; (b) yearly leaseha[d •
<br /> payments or ground rerrts on the Property, i�any, (c) yearly hezard or property tnsurattca pr�niums: (� yeary flood insurance `, � 1..._
<br /> premiums. if any; (e)yearty mort e Insurance remiums,ff en and '.b �
<br /> , 9�9 p y. (tj eny sums payable by Bortower to Lender in accordsnce i . .'__,
<br /> ` • vrfth the provlslons of paragraph 8, In Beu of the payment of mortgage insurance premiums. These ftems are celled 'Esaow �
<br /> iItems.' LenAer may, at any tlme, colled and hotd funds (n an smount not to exceed the maximum emount a lender for a
<br /> } federalry related mortgage ioan may requlre tor Bortower's escrow axount under the fed2ral Real Estate Settletnent Procedures . , ,
<br /> J Act of 1974 as amended from tlme to tlme,12 U.S.C.�2801 et seq. ('RESPA'), uNess enoth�lativ that appfies to the Funds , =
<br /> � sets a kesser amounL if so, LendrJ may,at any Ume, eopect and hold�unds in en emounl not to exceed the lesser emouM.
<br /> Lender may estimate the amourrt of Funds due on the hasts of curtent data and re,asonabte esdmates of e�endduras of firWre ` � < —
<br />' � Escrow items or offierwlse fn aca�rdance wfth cippticable law. � ,
<br /> A
<br /> •;I The Funds shall be heid in an institutlon whooe deposits ara insured by a iedetaf agency,tnstrume.ntalriy,or entity rnGuding � '
<br /> •� lender,it Lender is such an institutlon) or in any Federal Home Loan Benk Lender shall appty the Funds to pay the Escrow _
<br /> ttems. Lender may noi charge Borrower for hotding and apptyfng the Funds,annusUy anafydng the escraw accouM, or verflyAng ' •
<br /> the Esaow ttems, unless Lender pays Borrower Interest on the Funds and eppHcabls law p�mita Lender to make such a � • � ,!� •
<br /> , charge. However, Lender may require Borrower to pay a onatlme charge for an independerrt real estete tex reporUng se�vice -
<br /> used by Lender In tonnectlon wfth this loan. uniess appRcable law provides oth�wfse. Unless en agreemerrt is made or � ';�
<br /> apDncable law requUes intereat to ba pafd.Lender shall not be requGed to pay Borrower anyr fnteest or eamings on the Funds. � � ;. . -
<br />� 7 Bormwer end Lender may a�ree tn wrftlng, however, that interest sfiall be aatd on the Funds. Lender shell give to Bormwer.
<br /> . i K9thoui charge, an annual nccounttng ot the Funda, ahowtng credits and de4its to the Funds and the purpose for whlch each � ' '-.
<br /> deDit to the Funds was mada The Funds are pladged as addAlonal security for ell sums secured by the Searity InsWmetrt. . . •�`..��� '�:
<br /> :1 Ii the Fun6s hetd by Lender ex�eed the amourds permitted to be he(d by eppticaDte law, L.ender shaD aceourri to Borrower � : —
<br /> for the excess Funds(n aceordance with the �.��°'='—"- v
<br /> requfrements of appllcable law. Ii the amount of the Funds heid by Lender at any �� '_.�
<br /> Ume Is not suftident to pay the Escrow Items when due,Lender may so notify Borrowe► in wrfting,end, in such case Borrower • r : -
<br /> shall to Lender the amount n .� ' '�• " .�
<br /> PaY ecsssary to make up the deflctency. 8orrower shall make up the dafldency in no more than t-�- —
<br /> twelve monthy paymerrts,at Lender's sole discreUon. ' 4-�'�� : —
<br /> I-., .;,�. .
<br /> . Upon payment In tull of all sums secured by this Sacuriry InsWment, Lender shaD promptiy re:u,�to Borrower eny Funds • ���_ �;' ' : �'�
<br /> . hetd by Lender. it,under paragraph 21. Lender aha8 acqutre or se8 tfie Pmperty, Lender, pdor to ttsa ac�ufsltlon or sale of the �y
<br /> Prope�ty,shaU appty any Funds held by Lcmder at the tlme oi acquisiNon or sele as a credit agafnst the sums secured by thts �` • '3
<br /> Security Inshument •. . � =: ;. ��,�
<br /> 3. Applieatton of Paynsenta Untess appUceble taw provides otherwise, a9 paymerrts received by Lender under , =; � � —
<br /> paragraphs 1 and 2 shaD be appQed: flrat,to any prepayment chargos dua under the Note;second,to amounts payable under � •
<br /> parngraph 2;third,to interest due:fourth,to prindpel due;and last,to eny Iate chargas due und�tha�ote. � �'* �
<br /> -�_ f�:.
<br /> 4. Chafge� U8it8. Bortower sha11 pay aU texes, assessments, charges, fines and imp�-;5ons atbibutable to the • ,` ;� �.:��? --
<br /> � Property wfiich may attain prforfty over th(s Searriry Instrument, and Ieasehold payments or ground re�YS, il eny. Borrower ahall : � • , ���:
<br /> pay tRese obOgations in the manner provided in paragraph 2, or M noi pald tn that �t�.ner, Borrow�sheU a them on time � ' `F �
<br /> dUecUy to the erson owed a p y .`r`•{.� t��
<br /> :�_' ... f � .
<br /> . p p ymEnL Borrower afiali promptty tuml�h to Lender aU notiaes of amourtts to be paid under thts , ��,�.��.• ��� •
<br /> ...��,,:
<br /> �: paragraph. B Borrower makes these payments dhectly, Borrower shall prompUy tumish to Len� recetpts evidendng the ry _ .. �i"; �
<br /> _ payments. � ',�"_ ,
<br /> . Borrow�shell promptty discharge a.zy lien which hes pdorfry over this Secur(ry Instrument unie�.s Borrower: (a) agrees in
<br /> wrttlng to the payment of the obOgaUon secured by the tlen in a menner acceptabla to Lender; (b) contests In good faith the • �� �'���:•'
<br /> Ben by, or detends agafnst eifircement of the Oen in, I�r,,a-f proceedinga which in Lhe Lender's opinlon operate to prevent the . 'i"�•�•' ��
<br />• .', eMorcement ot the�en; or(a) aecures from the hoider of the Ilen an agreement satls`wstory to Lender subor�natkip the Uen to , ' ���'�'�_�'
<br /> . thts Sea Instrument.I}Lender determfnes that an " '�'"�• �� —
<br /> � Y P�o!the Praperty is subject to a Ilen which may att�in prlorfty over this • s:..- —*--
<br /> ; Secur(ry Instrument, Lender may give Borrower e noUca IdentHying the I'.�. Borrower shall satlsy the fien or take one or more oi �
<br /> ' the actlons set forth ebove within 10 days oi the glving of notke. � ' ��.�
<br /> � ! S. H�ard or Pro e In:uranao.Borrower shau k ,T'�`��-
<br /> P �7i eep the improvements now extstlng or hereatter ereded on tlie •.�,,..� '
<br /> � Properry Insured against Ioss by ftre, hazards induded wkhin the term 'extended coverage' and any other hazatds, inctu�np .;;,,,�:-__�-���J-
<br /> �' tloods or tlooding,Tor whicl� Lender requires insurance. This Insutance ahal!be ma��ined in the amounta end tor the pedada L �„_.:Yy-
<br /> that Lender requires. The Insurance canter providing the in�urance shall be chosen by Botrower subJect to Lender's eppmval '="z' ' .
<br /> which shall not be unreasonabry wfthheld. IT Borrovrer fails to melnte{n coverege descr(bed above. Lender may,st tender'a � ..:�,,;,��'�-_ _�- -
<br /> opUon, obtain covemga to protect Lenders dghta in the Property in accordance with paragraph 7. • °'�-
<br /> AO insuranee polides and renewals ahatl be aceeptabfe to Lender and shall inefude a stendard mortgage ciause. Lender • : �
<br /> shell have the dght to hold the poddea and renewals. H Lender requires, Bot�ower ahsll prompHyr ghie to Lender ail receipts of .. , � �,,;�. _
<br /> paid premiums and renewal noUces. In the event o}loss,Borrowe►sha0 ghre prompt noUce to tha insurance carrfer and Lender. � • •
<br />, Lender may make proof o}toss tt not made prompUy by Borrower. , •� �.
<br /> Uniess Lender and Borrower otherwls9 agree in wrtUng. Insurance proceeds ahall be appiled to restoraUon or repeir ot the • •� •
<br /> Proper4y da..,�ged, H the restoraUon or r�.�z is economicely teasfbie and Lender's securfty 19 not lessened. If the restoraUon or � •
<br /> repatr ia no1 eeonomicalty feas(bte or Lsnder's security would be lessened,the Insurartce proceeds ahs11 be app�ed to the sums ' �
<br /> secured by this Security tnstrumerrt, whether or not ther► Que, wlth any excess peid to 8ortower. If Bonower ab�ndons the � � � �
<br /> Property,or does not enswer withln 30 deys e noUce irom Lender that the insurance cerrter has oftered to settte a clelm,then
<br /> Lender may copect the insu:ance proceeda. Lender rray use the proceeds to �epalr or �estore the Property or t� pay suma � —
<br /> secured by t�is Security insuumen�whether or not then d��a. The 90-day period wiil begin when the n��ce is ghren. . . . ••��
<br /> Uniess Zender and Barrower atherwise agree In writlng, eny applicatlon of proceeds to pr'n��l shall not extend or �
<br /> postpone the due date of the monthy payments referred to in paragr�ls 1 and 2 or change the e-�^ount o}the paymenta. H �
<br /> under psragraph 21 the ProAerty is acquired by Lender. Borrower's right to any tnsurance polides a.^.tl proceeds resuttlng hom = -
<br /> damege to the Property prior to the aequlsition shail pass to Lender to the extent of the sums by this Securityr Instrument •
<br /> immediatey pdor to the acquls�lon.
<br /> 6. Occupancy, Pr�servation, Maintenance and Protectlon o? the Proper4y; Borrower's Loan
<br /> I Applieatlon; LeasohOldB. Borrower shaii occupy, estebiish, and use the Property as Bortower's pdrtcipal resldence withln i
<br /> 1 sixty days after the execution oi thla Securfty Ins6ument and shell conUnue to occupy the Property as Bortower's pdndpal i
<br /> , residence for at least one yeer atter the dete of occupancy, unless Lender otherwiso agrees in wri0ng,which consent shell not � ' �
<br /> � be unreasonaby wfthhetd,or uniess extenuetUeg dreumsfances exist which ere beyand Borrower's control. Borrower shall not ; � � � —
<br /> , dostroy,damage or Impalr the Properry, allow tho Property to deter[orate,or commit waste on the Property. 8orrower shall be in
<br /> defautt ii nny toAeitura action or proceeding, whether civil or criminal,is begun that in Lender's good fefth Judgment couid result !
<br /> in fodQiture of the Properry or otherwise materialty impa(r the tim created by this Sawrity Instrument or Lender's securityr interest. • • � �
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