|
. .�. . ..
<br /> � . , : ; . , , _ � -
<br /> tl� � , :., ' -- _ - -.-
<br /> rYl.� ......,,.� . -�,.ur;=� --- . ... ...___.. 2r.�--- _
<br /> , . � ,�.. -.;„:��x
<br /> . -
<br /> . � �� � ... .._.._. .._....___.i.l__.XIk _ _
<br /> ._ .. . � . . , '' _ '�d�_..c.4L'Q,nt 1..•. ., .• _
<br /> �L`i�
<br /> .'
<br /> 1 ':'
<br /> �
<br /> ��i�''N
<br /> . ...- * '
<br /> ..--'------_.._.._._._�..._........_......... ... ... .__ . _ .. . . ..._. ... . '^ :
<br /> ___"�.
<br /> . ¢d::-
<br /> - -� 97- i02859 =_-_
<br />' �'�'r Thc Fuml. shall bc hrld in un instituticm whitsc dcpasits urc insured hy a fcdcral aecncy, instnimcntnlity, ar rnlity
<br /> .. (including l.cndcr. it'IAnJcr is,uch an iiitititution)��r in any Fcderal Homc Lc,an Dank. Lcndcr�hall upply thc Funds tu p.iy thc �_
<br /> Escrrnv Itcmr.. lr_n.Scr may nut chargc fl�irrowc�for hulding und applying thc I�undc,annually analyiin�thc r,crow arrount.ur
<br /> � vcrilyinp thc Eurnw Ilrm,. unh•,l.�ndcr pays Fl�,rrnwrr intcrc�t�,n thc Fund,:md,���,i►�:�ni�iaw p�rmit*I.endcr la makc+uch
<br /> � a chargr. Huwevcr. Lcnilcr muy rcquirc Burruwcr tu p:ry u unc-timc ch:irgr f�n an mdcpcndrnt r�:al r,tatc tux r�p�uting�rrvirr �,_
<br /> � ,.� u�cd by L�ndcr in cnnncction with lhi� loan. nnlctiti appliraMc I:nv pruvidc. ��thcnvisc. Unlc�+ an .►grccmcnt i� ur�dc ur
<br /> '+pPliuiblc law reyuirch intcrest io hc paiJ, l.cndcr+hall nul hc.rcyuir�d tu pay Borru�ti•rr xny intcrrst or carning+un thc Funds.
<br /> Borruacr.ind IAndcr may agr�c in writing. huwc�•�r. that intcre�t �linll hc p.aid an thr Fund+. l.cndcr shall givc tu F3urruwcr.
<br />. � i without rhurge. :ut annual aauuntin�ut' thc Funds, sl�iuwing credit, c�nd dcbit. w thc FunJ+ anJ thc purpu�c ti�r wl�inc �arh
<br /> � � drhit to the Fund,wa+madc.Thc fiund,:uc plcdgrd a,.��lJitiunal sc�urity fur all sunu ucurcd by this Sccurity Instrumcnt. —
<br /> . If Ihe Fund+hrld hy Lrnder erceeJ the um�wnt��+rrmitteYl t��he•held hy ❑pplirahlr I.nv. l.rncirr.hall arc��unt tu {lurrirticer
<br /> ' ,,, � tirr thc cxccss Funds in accordancc with thc rcyuinmrnt,af applicublc li►�a. If thr anu�unt of'thr Funds hcld hy Lrndcr.it any �_
<br /> ��� timc is not tiu f f icicnt to pay t hc Escri�w Itrms w hen dua L cn dcr may su nuti fy �urru�vcr in writing.an d. in suc h�a,� Ho r r u��•r r
<br /> �� shall pay to Lendcr the anwunt ncc��sary tu makc up the deficicnry. Borr��wer,hnll make up thr Jcticienry in nu more than - -
<br /> I twelve monthly payments,at L.ender's,olc di,rrctiun. —�`
<br />� Upon paymcr�t in fu l l m a l l suma :,crured hy diis Securit�� (ntitrum�nt, Lrn dcr ,ha l l prump dy re i u n d w Bu r r u�s�r a n y _ _
<br /> Fund.lield hy L,cnder.It�. unJer paragraph?I. L�ndcr,hall acyuirc or+rl)thc Proprrty. Lendrr. prior tu thr aryui�itinn ur+al� — _.
<br /> i,f'the Properiy.shall appl��uny FunJ,hcld hy [Andcr at the timc of aryui.itiun ar�alr a, :i rreJit a�ain.t thc,ums,crurcd h�• �:
<br /> �;' this Security Instrurnent.
<br /> • �,i 3. A�plicuNon otPu,rmeaits.Unlesb applica6le law provides uthenv�+r, ull paym�nts r«ri�•rd hp (.cnJrr under paragr.iph+ —
<br /> 1 ana 2 xhall be applied: fint, to any prepayment charges du.e under the Note; ,econd. [o amounts payable under parugraph�:
<br /> ' �•' third, to interest due:founh,to princ�pal due:unJ last, to un} late chargcs due under the Note.
<br /> ,. �'� J. Ch:trges; I.Iens. Borruwer shall pay ull t:ixes, assessments, chan�es, fines anJ impu�itic�ns atoributahle tu thc Pruperty �;'.
<br />_• �';i which roay xtta�h iP�rioriry over this Sccuriry Instrumcnt, and Icasehold E�ayments ur ground rent�, if any. Borrow�er <hall pay �
<br /> ,�.' thesc uhligatium in thc manner provideJ in par,�graph 2,or if not paiJ in ihat manner, Borrower�hafl pay them on tim�Jirectly -
<br /> to[he crson n���etl a�ment. Qarro�ver shall rom tl � furnitih to[.,e:nder aU notices of ar.Y�unts tu he �i� midcr this �ra�ra h. "�
<br /> . F P'1 P P > P' P� t P
<br /> ;� � If 6��nower makes these pn�•ments Jirectly,Borrower shall promptly furnish to l.endcr rereipts evidcnring the paymcnts. �;':
<br />-` � �urro�ver,lix`1 prompdv�lischarge uny lien�vhich hax priority rner thi,�ecurity In�trument unless Burnnver. �u)ugrces in
<br /> n•riting to the pa�mznt of the obligation sccured hy the licn in a munner ucreptable to l.endcr: (b►r�mtc�t� in gon� f'aith the lirn �`"
<br /> � by, or defends against enforcement ��f the lien in. Iegal proceeding� �ti�hich in the Lender's upmiim uperate to prevent thr �::
<br /> ' �' enforcement of the lien: �u(cl �ecure�frum the holder utthc lien an agrecment+utisfactory to Lender,uborJinating the licn[u -
<br /> . , this Security Instruntent. If I..c�ndcr dcrermincs that any pari a�f the Propeny is tiubjert to a licn wh�rh may attain pnurity over �=m=
<br />" t1ti+Security Instrumcnt, Lcnder may givc Borrowr.r a nutire identifying the licn. E3orrowcr shall satisty thc lien or takc unc or �
<br />• • mnrc of the actions sct fonh abuvc within i0 day�uf thc gi�•ing of noticc. ___
<br />_ 5. Hsuard or Property Insuruncc. Borrowcr shall kcep thc improvementti nuw cxi�ting nn c�rcaftcr rrectcJ an the e=
<br /> Propeny insured a�uin�t loss by fire, har:�rds inrluJed within the term "extended cuvcrage" and an� othrr h:varcls, in�luding
<br />' floads or tlooding, for which Lcndcr rcyuires insur.mcc.'I'his insw•sncc shflll bc maintuinul in the amuu�n,und fl�r thc periods
<br /> �, .�� '- that l.ender rcquires.The insur�nce carrier providing the insurance shall be chosen by $ottow�cr�ubjcct to L�nder's approval _
<br />�.,-. �;�rt� °ha!! r.ut b..^ s:^:cs:-�^a�l� .•�;!:::.l�l. !�S:: ..scr :::s ... ::air.tais: ...,.-;:b. �!;:�c::";.+ ah^��e. L�r.,+e* n,sy, �r �,�nilrr'c ==
<br /> _ .. ap[ion.�abtain�roveruge to prutect i.enJer's rif:hts�in the Pmpeny in urrurdancc�vith paragraph 7. __-
<br /> ��° , ,,.. All insursnce policies and renewals shall be acceptable ta Lender and shull include a +tandard murtgugc rluuxe. l�nder --
<br />;,��.:;. .•�,� „ shall huve the right to hold the policie�and renewals. If I.ender rcyuires, Burrower shall promptly�ive w Lender ull receipts of
<br /> T^��•• ',��'�;; `' paid premiums and n:newul nati:es. In the evem uf lotis,Borruwcr yhall give prompt m�tice ai the in�urancr rarriar and l.c:ndcr.
<br /> "� � ' L,cndcr may make prouf of loss it not madc promptly by Biirro�vcr.
<br />�Iw'r��;•',i:.,�.
<br /> Unless I.ender and Borrower otherwise agree in �criting, intiurance prureeds,hull be upplieJ w restorati<m or repair uf the
<br /> -::�.''��".'',-` Pro R dama ed, if the rest�ttution c�r re air is economically feasible and IAnder's securit is not Iess�ned. If the restoration or
<br /> �..�zs_ .. R ,Y S P' Y
<br />�;,,r:Y�_rt repair is not econon�ically fe.�.r•ible ur Lender's �ecurity wuuld bc lesscned, thc insurunce proceeds shull bc applicxl ti�the sums
<br />-+-��=����•,' sccured by this 3ec:urity Instrumcnt. �vhcther or n�it thcn due, with any exress paid to Bc�rrawer. lf Borrower abandons the
<br />'__�r�Y.
<br /> - Property, or docs not antia�cr within :�0 dayti a ncnice from Lendcr tha�ehc insumncc carrier has offered to.etde u cluim, thcn
<br />"-°''''"""4'• Lender may collect the insurance prac��ds. L,ender may use the proceeds to repair i�� reste�re the Property or eo pay sums
<br />-_w:�.�..
<br />�,a:;:��;� secured by this Security Instrununt, whether or not then Juc. The 30-day periud�vill hegin when the nutice�s given. __
<br /> -`""t=''� Unless I.ender and B��rcu�ver cxherwisc ugree in «•riting, any npplication .�t'pr�eedw w principal shall nut extend ur
<br />��' ost one the due date uf thc monthl avmcntti refcrrcd tu in nra�ri hs 1 anJ 2 or chan�c the umount of thr a ments. If
<br /> 3=��'.'�','�_. P • P Y P'. P b_�P b P'Y
<br />_; y�'`�:��, under paragraph 2 I thc Property iy acyuired by Lendcr, Borrowcr's nght to any insuruncc policies und pri�cecds rctiulting from . _
<br /> ___����?;�; ; damage to the Property prior w the acquisition shall patis tc�l.ender tu the extent uf the�ums seeured by this Security In�ttument
<br /> �`���_' ' immediately prior to thc ucyuisition.
<br />',v;;�� 6.Occupancy, Preservation.RfnlnQenance und Protectlon nf the Property; Rorrue�er's Loan AppHcation;i.cuseholds.
<br /> _.�� .Bormwer shall oc�upy,establish,nnd usc the Propeny ati Bono�ver'�principul residence within sixry days after the execution of
<br />=,�N.y�;� , this Security Instrument and shal!cuntinuc ro occupy the Property as Bottowcr's principal rctiidence ti�r at Icast one year u(ter -
<br /> =�-.r� th�date of uccupancy,unles� Lender otherwitie u�ree� in writing, which consent shall niu be unre�+sonubly «�ithheld, �u unless —
<br />°�r��
<br /> --__�o;:�,t� extenuating circumstanccs exist which an beyond Borrower's contral. Bormwer shall not destroy�, damage or itnpair the
<br /> y_�� Property, allow the Property tn deterinrate, or ronunit wa�te ��n thc Praperty. Borrower shall bc in def:�ult if any forfeiture
<br /> action or procceding.whether civil or rriminal, is begun thut in Lender'��o��d fuith judgment could rexult in I'orfeiturr of the
<br />—�-��Si�.„d, –-
<br />_.---.�- - � Propeny or othcrwise materially impair thc lien crc3tcd by thi,Securi[y Intitrumcnt ur L.cnder3 securiry intcrest. Borrowcr may __
<br />-_;�;�-��„ cure surh s dcFsult and�einstatc,as pruvidcd in para�raph l8,by rausinE thc acti��n�ir procrcding to bc ditimis���ci with a rulin� __-
<br /> ��r:;,;`: �;�,i � that, in L.cndcr'ti goucl faith dctcnnination, prerludcs forfciture uf thc Borruwcr's intcrc�c in thc Property or i�thcr matcrial _
<br /> "�..[ ,
<br />_ .��.�;; impairmem of thc licn rreatcd by this Srruriry Instrumrnt ur l.ender'� .ecurity inter�st. Borrower shall al�o bc in Jefuult if —
<br /> li�_ -�. ..r.,
<br />- - Barruwer. Juring thc lo:�n appliration pruccs,,gavc matcrially f.dsc ur inaccur,rtc infonnaticm ur statcmcnts ta l.cndcr(ur failcd _
<br /> ,"�� � to provide I.endcr with any muterial inf'irrrnativnl in ronnection with the loan evidenced by the Nate, including, but not limitcd °-
<br /> ;'�;� . � � ` to, repmsentations concerning Burrower'ti nccupancy��f the Property as a principal residenrc. If'this Security lnstnunent is on a _-
<br /> �' ' 1 le,�tiehold. BorrowC[sh311 Comply widl :tU lh� provislons uf lhc lui�e. (I' [iorruwer ac��uirc. fec tittc li► Ih� Prc�pCrty. the
<br />-_ . . •;��:�` leasehold and the fc�tide shall nut mcr�:c unle,r lcnJrr agrce.to the mergcr in writin��. ��=
<br /> f�' . �;�i;�� 7.Prntectlon of Lender's Rl�hts in tlm Yroperty.If Bi�rro�ver f�ils tu perti�rm thc cu��enant.an�l agrccmcnt�runtaincd in ��°
<br />*�. thi.r Sec:ariry Instrument, or lhere i, a Iegal prucecding ihat may� ,ignificanUy affert Lendrr'.r�ght, in the Pmperty (�uch as u
<br /> ' ` procecding in bankruptr}.pmbatc, titt condcmnatiun c�r f��rfciturc ur tu cnti�rcr la��, or rc�ulutiun�i, thrn [.cnd<r muy do and �,
<br /> '''� pay fnr a•hate�•er is nc�:estiary tn prutcrt �he�ulue��t' tbe Nrupen� and Len�Jer'� ri�ht� �n tlu Pruper[y. L�t1JG•'y artii�nti may
<br />_ «;a"`' includc p:tying an�• wm� �crured b�• a� li�n �shirh ha� prionty uvcr th�� Scruritv Imtrumr»t. appcaring in cnurt, p:�ying
<br /> "°'� rcasonable atturnry�'Ir�s and entering un tlu Pruprrty lo makc repair,. Altl�ough L.cndrr may take artinn under this parugrciph
<br />: `-�_� 7,i..cncicr acxs noi na��r�u do xo. . -
<br /> An�• amuuntti Jirbuncd b�� Lcndcr undcr thi. paragrapli 7 ,hall hcrumr :�Jdrtianal drM of Hurrua•cr .crurcJ hy thiti
<br /> Sccurity In+trument. Unlr+s Burrowcr:uiJ l,cndcr ci�,rrr ta uthrr tcrim �,I paymrnt. thr•r :nnrnnuti �hall hrar int�rr�t I'rum thc
<br /> " date uf Ji�hur+emcnt at thc Nutr rate and tihall hr payahlc. ��i�h intrr���, upuu nu�irr liuin l,rnJc� t�� Bunuwci �eyu�y[itl�
<br /> - payment.
<br /> - S.1lort�a�c In,urnncc. If Lend�r nyuind murt�aEc in.urcuuc ati a runditiun��i mahing thr locm tirrw���J hy this ti�curit}
<br /> � Imtruutcnt. B„rni�ti•cr.hall pay thr prrmiumti rcyuirrd a, m;nntain thr mungage in�ur;uirc in clfcct. II'. fur any rr:uun. th�
<br /> - mort�agc iiitiurancc cnvcragc rcyuircd hy Lcndcr lap�eti„r cc:i.r.r t�i hc in rt'trrt. H��rn,wrr �hall p:iy Ihr prcmiu�m rcyuircd t�,
<br /> Y ohtain ru�•cragc.uhtit,uuially cyui��alcnt tu thr mungagc in,ur,mrr prr�inu�ly in rffcrt. cu a a,�t �uN�tantialh ryw��al�nt to thc
<br /> _ cosi tu Burraacr ��tthr murtgagr in,urancc pruai�,u.ly m rlfcrt. Irum :m al�crn:uc murtga�:� in,urrr apprinr.t hy LrnJ�c If
<br /> ,> �.,,,,�l.,�a Form 3028 9/90
<br /> .
<br /> , _
<br /> ... ..____....._ _. .._ ._-- - -. ._-- --. ._-- . . .. . .. __ . .. . _..__ - -�- �-�--... ........ ...._--- —•--�--- - ..r
<br /> .� _
<br /> f . . .. .. _ . .�. . •...�.; �. . _.
<br />
|