|
.� "... .,. �t�?;i�(� ,
<br /> •� ,:�S4'- � ii ' ,� � . r:.�_._
<br /> �� St�it '
<br /> . u• ,.� .. ... . ... .,,...,.,,,,........� ._.. .. .......... .. .. _. .. ... .. ..._�.. .- ....:►.,
<br /> ., . . .�... ._ __,..__... ... �
<br /> h•
<br /> • .NOQ�_'� au.._.:��,.... . . ....._.. . . . .. . . .... _ _ �1 �.�� -_
<br /> � ��L.._.l.
<br /> �� � � TOOETHER WITN all tho Improvements notv �r horaaller erocted on the properry, and ell easemenls, eppurtnnances, nnd ���_��
<br /> tixlur�9 now or herenfter a part o1 the proparty. All replaaements nnd ndditlons ahall nlso bo covered by thls Security Instrument. �;f_;�i_
<br /> NI of lhv lorogoing Is relcrvad to m this Securily I�isirume:�t as thP 'Pro�Prty.` � �'"i`
<br /> �� pORROW�R COVFNANTfi 4h.91 Borrpwer Is Inwtully seized ot tho estato hereby conreyed and hae iho rlght to grant and � .
<br /> convey tha Properry n�d thnt Iha Pruperty is unencumqered, excepl for encumhrnnce� ol record. Borrower�vnrrnnts and wlll
<br /> dolend generalty the lttin la lho Property nyalnst uil rinims nnd demnnds, suUJect to any F�ncurnbrancos ot rocord.
<br /> THIS SECl1R1T�' INSTflUMENT combines unilorm covo�nnis lor nntlont�l uoo and non-unllorm covent+nts with Hmitc�
<br /> ' vntlatlons by Jud..datlan�o constitut� n unNorm aocurity InsWment coverinc�renl propeity. ' „
<br /> UMIFORM COVENANTS. Borcower and lender cov�nent end agrea ns lollows:
<br /> 1. Payment of Pranr.l�el and Interest; Prepayment and Late Cha�gon.Barrower shall promplly pny wlir.n
<br /> due tha principal al t�nd intereot nn lNo debt evldenced by Ihv Noicabla Inw orrto n writtee walver by Lender,�Bonowehshal�ItPaY�
<br /> 2.. Fun�1c+ f�e 'T�xes and Ineurnacw.sunleci�o aap
<br /> to Lendet on thu d�y monllity payments or�du9 under Ilie Note, unlil lho Note Is paid!n lu��, n sum ('Funds') for (0) yenrty �
<br /> � taxes and assoasments whlch may attain pnority over thls Security Instrument es a ifen on tho Properry; (b) yeady leasohold� 5;
<br /> �`�'�=� � payments or ground ronts on tha Property, il any: (c� ye�rly hnzard or property InsurAnce premiums: (d)yearly tlood Insuranco
<br /> , -•-�''� premh�ms,II �ny;(o) yearty mortgngu Insurance prumiums,il any: nnd (� any sums peyable by Borrower lo l.ender In uccordance
<br /> . with th�3 provlolans ot paragraph 8, In Iiou of tho pt�yment o1 monpago InsurAnce premlums. These Ilems oro c+illed 'Escrow�
<br /> Items.' Lend�:r mAy. et ony time. collect and hold Funds In an amount nat ta oxceed the maximum amount o lender for a
<br /> federally relatEd m�rtgnge loan rr.ny roqulro lor Bortovrer's escrow eccount undar tho federal Real Estate 3elilemenl Proceduros
<br /> Act o1 197q c►s omanded from time to lime. 12 U.S.C.�J 2601 ot seq. ('RFSPA'). unless another law that applles to tho Funds
<br /> snts a lucser amqunt If so, Lender may. et nny tlme. collecl and hold Funds in an amount not to exceed the lesser nmount. i:,!___
<br /> - Lnndsr mry esUmnte the amount ol Funds duo on the basfs ot current data and reasoneble estim3tes ol expendilures o1 tuture ' �_
<br /> Escro�u Itemn or othervr�so in accordance wilh epp�ica6le law.
<br /> '� Ttir,Fu�ds shail be held In an Institution whose de�osits era (nsurod by n fedeml ageney.Instmmematity.or entiry pncluding ��A:_�
<br /> �'. Lender, if Lc�ndnr is such an institutlon) or In any Fedvral Ho ne ih� Fn ds. unnualy anallyzing Itlhehesc ow acc unt.`or Prifying �'��
<br /> _v`., ��r��. �endor mny not charge Bortower tor hotding und epptyi fl -"`_
<br /> t' q�it Escrow Items, unless Lender pays Bottower inieresl u�i tha Funds and spp!!cebla !aw pemiits lender to make such a W
<br /> d, cl:arge. However, Lender may require F3orrower to pay a onrtime cherge for an independent real eslete tex reporting servlce �__
<br /> ', ta �_�r.d by lender in connectlon with this loan, unles� eppltceble law provides otherwise. Unless an agreement is msde or �`_
<br /> " Q�Ilcable luvr requtres interest to be pafd, Lender shall not be reQulred to pny Bortower any Interest or eamings on tha Funds. --
<br /> Bonower rnd Lender may agree In writing, however, thet Interest shall be pald on the Funds. Lander shall givo to Bortower, _
<br /> withou4 chor�. 2n annual eccounting oi lhe funds,showing credit� and debits to lhe funds end the purpose for which each —_
<br /> - `� de61t to the Funds was mado. Tho Funds ere pledgod es eddidonal security for e11 licable law,rLendee shall accountsto Bonower ___
<br /> If the Funds held by Lender exceed tho amounts pertnitted to ho held by epp _ _
<br /> •�''r � tor th�e excess Funds In acaordence with the requirements ol app!icable luw. Ii the amant ol the Funds held by Lender et eny __
<br /> �'{�� � timn is not sutflclent to pay the Escrow Items when due,Lender may so notify Bortorver I�writfng, and, in such case Borrower __
<br /> �t,� shaU ptty to Lender ihe umounl necessory to make up the deticiency. Borrower shall mnke up the delic(ency in no more than -
<br /> lweNe rnonthly payments, at Lender s sole dscrotlon.
<br /> , Upon payment In lull of ali sums secures! by thfs Secudty Instrument. Lender shall promptly refund to Borrower any Funds
<br /> ' � held by Le�der. HA under�pa�a9�P1hi1 bv Lender et thc im�of acqu'Isiton orPs� nsne credt�ogelnstetheQsusms�s cured by this
<br /> , r�operiy,ai,nL' opp�y a^; .....__ .. ,
<br />`, `' Security Instrument. —
<br /> ' � 3. Appl3satlOn of Payments. Unless applicahle law provides othorwiso, ell peyments recelved by Lender under
<br />; : 1' paragraphs 1 �nd 2 shall bo applied: first,to any prepavment charges dut�under the Note:secand,to amounts payable und�•
<br /> � paragraph ?;third, ta interest duo: tourth,to principal due; and Iast, to any late charges due under the Note.
<br /> }f;i,,;s, .: + 4. Chargen; Li6118. 8onower shall pay ell texos, assossments, charges. fnes and Imposftions attributeblo to the
<br />�=r,.,:�:,�;,,;;,.�. PropoAy whlch may eflafn prtority over this Security InsiNment, and leasehold payments ar ground renls, if any. Bortower shz!I
<br />_ ;�.•:w-• pay these obligatlons In tho roanner provided In paragreph 2, or I} not paid In that manner. Borrower shall pay them on Ume
<br /> ' ''°'�"'-�•' directiy to the pe�on owed payment. Bortower shatl prompily fumish to Lender all noUCes of emounts to ba paid undor this
<br />-�_ �'"'�,, paragraph. If Borrower makes these payments directy, Bortawer shell promptly fumish to Lender receipts evidencing the
<br /> '-;�.., ..,: p8��ts.
<br /> ''"' �' '�'�'• 6ortov+er shall promptly discharge any Ilen which hes prtoriry over thfs Securiry Instrument unleas Bortower. (a) egrees In
<br />�''" ;t " wdting to the payment ot the ohltgatlon secured by the Ii�n in e manner acceptabte to Lender; (b)contests In good fa(th the
<br /> i.'}�'Y,�,:
<br /> ��%�-� lien by, or defends against antorcement ot the Ilen i�,logal proceedings which in the Lender's opinbn operate to prevent the
<br />-�,.�:�. .
<br /> w:^':.M ..
<br /> y,..,��t,,,.,,, en t o r c e m e n t o t t h e I l e n; or(o) secures irom the holder of ihe Ilen an agreement eatislactury to Lender subordinating tho en o
<br /> ;;c K".,';.±t!t�� this Securiry Instrument. !t Lender dotermines that any part o1 the Proparty is subject to a I len w h lc h m a y a ft a l n p r t o r i t y o v e r t h 1 3
<br />:�.:=,��`•;;�. Secudty Instrument, Lender may glve Boaower a notice Identifytng the Ilon. Bortower shall setisty the�en or take one or more of
<br /> ^'�;,7��:;;y`� the actlons sel torth above withln 10 days o4 the gNing ot notice.
<br /> ��`�• �=`'' 6.Hasard or Property Insurance. Borrower shatl keep tho Improvements now exisling or hereaRer erected on the
<br />•'�'`, ^.�•.
<br /> ` "=""'�� Properry insured egelnst loss by tire, hazards Included with'n the term °extended .:overage" and any other hezards, Including
<br /> `�`'�`'`� tloods or tloading, tor whlch Lender requires Insurence. This Insurance shall be maintal�ed In ihe amounts end for tho pedods
<br /> �:.��z;�r•,.�
<br /> that I.ender requ(res. The irtsurance carrier providing Ihe insurance shall ba chossn by 9orrower subJect to LendFr's approval
<br /> �� '��"'"' which shall not be unreasonably wiihn�ld. If Borrower fufls to maintain coverapa describ�td abova, Lender may, at Lender's
<br /> �'�`��� opUon,obtaln coverege to protect Len��s•'s rights In the Property In accordance wi1A pamgrepfi 7.
<br />=;��°1.'�. Ali Insurance policles end renewals shall be acceptablo to Lender and sha� indude a standard mortgage clause. Lender
<br /> `''�` ��• shall heve the dght to hold the poliofes end renewals. If Lender requtres. Bonower shall promptly gNe to Lender oll recelpts ot
<br /> •'-r,�,�. . ... ..
<br />= �`�vr-•�• pald prerr►lums and rer+ewal notic�s. In the event ot loss, 9oROwer shall pNa prompt notice to the Insurance carrler nnd Len er.
<br /> � � � • Lender may meke prooi of loss H not mudo prompty by Bortower.
<br />;�; �� Unlesa Lender end Bortower otherwise agreo In wdting, insurance proeeeds shad be epplled to restoration or repalr of the
<br /> Propeity damaged. If the restoratlon or repulr Is economically teasibto and Lenders secu�Ity Is not tessened. If tha restoratlon or —
<br />-' � � repair Is not economlcaly teasible or Lender's securiry would be lessened, the insu�ance proceeds shall be applled to the sums
<br />�..�• •� secured by this Security Instrument, whether or no2 then due, with any axcess puld to Borrower. If Borrower ubandons the —
<br /> Property, or does not answer within 30 deys a notica from Lender that the insuranee car�er has olfered to settlo a cialm,thQn
<br /> �? • Lender may Callect lha insurnnce procee8s. Lender may use the procoods to repaY or restore the Property or to pay sums _
<br /> � � secured by thlu Security InstrumenL whether or not then due. The 30-d�y period wilt begin when the notice is given. _
<br /> ' ' i: Unlc3ss Lender and Borcower othenvise agree in writing, eny applicatlon of proceeds to principa� shall not extend or
<br /> , postpone lhe due dato of the monthly payments reienod lo In parngrflphs 1 and 2 or chenge the emount ot the payments. If }
<br /> under p3ragraPh 21 the Property Is acqulrQd by Londer, Borrovrer's dght to any Insurancu policles and procoeds rosutUng trom �-�.`,
<br /> � � damago to the Property pdor to the ecquisftlon shall paso to Lender to the extent ot the sums by this Security Instrument �
<br /> •• immediatety pdor to the Acqulsition. �-,�
<br /> .. ,
<br /> .
<br />__ ____- __-___ 8. Occupancy,_Preservatlon, Maintenance andal�rotochioprnofmthe e Rowa�s�adBpal�esde ce wfth n F�
<br /> _.,.��zeti
<br /> - _ -- --- ,- � -�-�� ------• —
<br />- App11C8�1o11; Leasenolae. oonawc� ana,� ���.�pr �» - �.
<br /> sixty days after tha oxecutbn of thls Securily Instrument nnd shall continue to oaupy tho Proptrty es Bortower's pdncipal �
<br /> • rosldence tar at least onQ yenr after tho dato of occupancy, unless Lender othenvise agrees in wdting, which consent shall not !
<br /> y be unreas�nabiy wilhhald, or unloss extenuatfig circumstancos exist whlch are beyond Bortowe�'s control. Borrower shuli not �
<br /> •• destroy, damago or Impair the Properry.allow tha Property to deteriorate, or commit waste on ihe Properry. Borrower shail be in R
<br /> detault if nny to�{eiluro nction or proceeding. whether civil or criminid, is begun thgt In i.ender's good taith judgme t could result �
<br /> - fn fodefture o1 the PropeNy or othorwise Materiaily impeir the lien creatad by this Secunty Instrument or Lendei s urity iMerest. �
<br /> 6 .
<br />� -� .. R�qr 2 ot 3 — �r—� �
<br /> . Ft]tG�hiG Ity7�
<br /> 9 7040
<br /> I .. ."'"_" " " : ' _ ' . .. . .' '_ '_" ..."_ _ '�'.�..._...-. _ _.___.._- ""._. .
<br />
|