|
. .. .,;Fr , . .... - .
<br /> •� " ..'i -t..iwP'--M�+.w e.,�r....� . . . _.. _. .
<br /> ,i�
<br /> . . ..�, ... •,=� �n,A ''���.rc.,
<br /> ' C�rt`�� � i �1'+�; ' ' i _._�� --�
<br /> �4H1i'- iS '*. .. , r .' � Y,l•�w��r�;�� 4_7 :�[I( —o�__;wtan ��� �{�7T'...
<br /> .V --_ �f��� . . .�1:� —.
<br /> /'7� �..i'fA —
<br /> ��� �,u4u�� -
<br /> ���C �'NI1C��• ��IiSi� �M' �IC��3 �Ii eiii :�'..•:�°�:•••' °•hncn dnrvuile nr.. inc��avl hv n &v1rr�J nucmv. iusirumc�t1i11itY, or enUty
<br /> (including Lcixlcr,if Lendcr i,tiuch an institutinn)or in any Fc�lcral Homc L�r,ui Dimk. l.rndcr sh:ill apply thc Funds to p��y tH�: —
<br /> Gtirruw Itcm,.l.cndcr niay n�n chargc Dorrowcr ti�n c��IJin};�m�,�pplying thr t'und�,. unnuidly �inulyring thr�srro�,�.irr�nint, ��r
<br /> vcrifying thr G,cro�v Itcm., unlc�s L.cndcr payti Horrowcr intcrcst on thc F�unds�md uppliri�blc liiw{x�rmits l.cndcr tu makc�urh
<br /> a chargc. Hi�acvcr. l,rndcr may requiro E3urru�vcr to p:iy u onc-limc ch.irgc liir an indc�xndcnt rc:d��+tntc tnx rc{xirtin�; ,�r��i4c
<br /> u�cd by IAndcr in runncction with this loan. unlcss appliruhlc lu�v pruvidcti uthcrwi�c. Unlcss �n .�grccmcnl iti m»dc ur
<br /> upplicuNlc luw r�yuireti intcrest tu hc paid. Lcndcr shull nut hc rcyuircd tu puy Hiirruwcr iuty inlcresl ur carnings un lPic I�unds.
<br /> Ck�rrnwer nnd l.endcr nnry agrcc in writing.huwevcr, thnt intcrest �hall b�puid�m thc Fuads. L.eixtrr stsall give ta Rnrrowcr,
<br /> witliuut rharbc, nn,+nnua! arcuunting uf thc Funds. shrnving rrcdits und dchits tn thc I'unds nnd thc pu��x�x: f��r �vhich ci�ch
<br /> dcblt to thc t'unds wus m,ide. Thc f'��nJs.irc plydgcd a,aJditiunad,�cutity for all tiuros sc�ur�.i hp tliiti Sccurity Insuum�nt. �
<br /> If thc Fwxls hcld by Lendrr cxcecd th�:unounts permittcd �o bc hcld by upplicuhlc law. Lendcr shull accuunt t��&►rrnwcr
<br /> f��r th� ex�r�:s FunJti in ucrcirdancc with thc rcquiromcnts of applicublc luw. If'thc umount of thc FuriJs hcld by IAnScr nt uny
<br /> timc is nut.r•ufticicnt to pay thc Escrow Items whcn duc.L�:ndrr nu�y so ni�tify fiurruwcr in writing,and, in,uch rasc l�c►rniwrr
<br /> shall pny to Lender the umount necessury to make up the de�cicncy. Borrower shall m;ike up the dr(icicnry in no morc than
<br /> nvcl�•c monthly paymcnts,at I.cnder's,ole Jisrretion.
<br /> U�wn paynunt in full uf ull sums +ccurcd by this Sccurity Instrununt. Lcndrr shall prompUy rcl'und tu Borr�nvcrr nny
<br /> t�unJs helJ by l.e.nJer. If, under paragraph 21, Lender�I�all ucyuire ur sell thc Pcoperty. Lender. pnur ti�the acyui�itian��r xulc
<br /> of the Pro�rty. �hall apply ,uiy Funds held hy Lender.0 the tim�uf acyuitiition or s.il�a�a credil a�,uin:t the�umti �ecured hy
<br /> this Sccurity Instruntcnt.
<br /> 3. AppUcution of Puvnunts. Unless applira6lc law prc�vidrs uthenvi+c, all paymcnh r.rri��rd hy l.rnJcr undcr p:u:�graph�
<br /> I ancl 2 +hall hc applicd: fir,t. tu any prcpaymcnt dicirgc,dur undcr thc Note: scrund. t�i mnuunt��r,ryablc undcr��unigraph 2:
<br /> third,tu interest duc: fuurth,to princ�pal due;and lu+t, tu any latc chairges due unarr the Note.
<br /> 4. Ctwrq�s;I.iens. Borrower shaU pay all taxes, assessments, chnrgcs, fines and impo�iti�ns uttributable ro thc Property
<br /> which may .tttain priority over this Secu��ty Instrument, and IcaseholJ payments or grounJ rents, if any. Borrower shuU puy
<br /> thesc obligations in thc manner providod in parugraph 2,or if not paad in that maun�r. Borrower,hull pay tt�cm on time dirccdy —
<br /> to thc pcnon owed pay�nent. Borrower shall promptly furnish to Lc�id�r all notices of amounts to be paid undcr this purngraph.
<br /> If Borro�ver makes these payments direcdy.Dorrower shull pmmpdy furnish to l.ender receiptti evidencing�he paymen►s.
<br /> Horrower shall prcnnptly discharge any lien which has priority ovcr this Security In,truntcnt unless Borru���r: (a)agrees in
<br /> writing to the payn�ent af the obligation�ec:ured by the lien in u munner acceptublc te�I.ender; (b)a�nte.ts in gc�ud faith the lie.n
<br /> by, ur dc(cnds against enforcemcnt of the lien in, legal prorecdings whirh in thc la•ndcr's opinion opctatc ta pr�vcnt tlie
<br /> enfarcement of the lien; or(c)secure�from the holder of the lieii an a�recment tiatisfact��ry tu Lendcr subordinating the lien to
<br /> this Security Instrument. If Lender determines that uny p�irt of the P��perty is suhject to a lien�vhich may attain pric�rity over
<br /> thes Sccuritv Instrument, Lcnder may give Barrowcr a noticc identifyin� the licn. k�orrowcr shall satisfy the licn ur tukc cmc or
<br /> niorc of thc actions tiet forth abc�vc within 10 days uf[hc giving of nuticc.
<br /> S. Haiard or Property lusurnnce. Borrower tihall kcep the improvemen�s n��w cxisting on c�rwRer crccted on thc
<br /> Property in:�ured ugainst luss hy firc, h.�ards included within thr. tcrni "extended covcrage" .uid any other h:uard5, including
<br /> tic�ods ur Fluoding, for�vhich L.ender requires insur�mrc. This insur:.mcc shaU be maintxined in the.unounts and for the p�riacl�
<br /> �.�... ._ , .�.,_
<br /> [�lat l.ender requires. The insurunee earrier praviding the insurancr >ll:iii be enwen oy Suuuwe� �uu�c« i� �.cuu�P�;:if,}�::.L'::
<br /> which shall not be unre:.sonably withhrld. If Borrotver fails u� m�inrain coverage desrribed above. LenJer ��uy, at L.ender's
<br /> uption, ubtain covcragc to protcct[xnder's rights In the Prcipeny in uceordance wie.i paragraph 7.
<br /> All insurunce policies nnJ renewals shall he urceptable tu l.�:nder und shaEl include� titandai�d mortguge clause. l.ender
<br /> shall havc thc right to huld the policies and rencwals. If L.cnder rcyuires, Horrower shall prm�iptly givc to I.endcr aU reccipts af
<br /> paid premiums and rencwul nrniccs. In the event of loss,Borruwrr tiludl give prompt noticc to thc in.uruncc carricr and[.cndcr.
<br /> L,ei�dcr may makc proof aF loss if not made promptly by Bonawcr.
<br /> Unlc,s Lcnder and Surn�wcr utherwisc agrcc in writing. instu ancc procccds.h;�ll bc applicd to rcytoration ur repuir of the
<br /> Property damaged,if'the restoration or repair is economir,illy fcasible und L�:nder's securuy is not Iessened. If the restor.Uion or
<br /> repair is not economically feasible ur Lcnder'ti security�vuuld be Iwssencd, the insurance proceeds shall be appllcd to the sums
<br /> securcti by ¢his Security Instrutncnt, a�hcthcr or not thcn due, with any cxress paid to Borrowcr. If Aorrower abandons the
<br /> Property,or dnes not answer within 30 days:�notice from I.ender thut the insurance cxrrier has ofl'ered ro settle u claim,then
<br /> Lender may callect the insurance procecJs. Leuder may use the prncecds to repair or restore thc Prupeny or to pay sums
<br /> sccurcd by this Security instrumcnt,whethcr or not theu duc.The 3fl•diry period will begin�vhen thc notice�s givcn.
<br /> Unless Lender and 8arrower othenvise agree in writinz, un� npplicutiim of pnxceds to principal shaU not extend or
<br /> pc�stponc thc due date of the monthl�� p:���ments rcfcrrcci co in par.agraphs 1 and 2 or changc thc amount of the payments. If
<br /> undcr parugraph 21 thc Propcny is acquired by Lcnd�:r, Borrowcr's nght to uny insurancc policics and procecds rcsultin� Gom
<br /> dumagc ro thc Property priur ta the acyi�i�ition shall p:us to L.ender to thc cxtent of the sums secural by this Security lnstrumcnt
<br /> immcdiaiely prior to thc scyuisition.
<br /> 6. Occupancy, �'reservntlon. R1Hintenance and Prote�tion of the Froperty; Borrower's I.oun Applicutlmr LeASeholds.
<br /> &�rmwcr shall cxcupy,a�tublish,m�d usc thc Pmperty uti Borrower's principul residencc within sixty days uRer thc exccutinn of
<br /> this Security[nstrument and ahall continue ti�occupy the Property ��s Borrower's principal residenee for at Ieast one year after
<br /> the date:of�xtiupancy, unlc�:.Lcnder�nhcrwise agrccs in writing, which conscnt shnU nut be unreasonably withhcld,or unl�:ss
<br /> extenuating circumstnnees exist wl»ch .u•e beyonJ Borrowe�'s c�.ontrol. Florrower shutl nc,t destroy, damage or impair the
<br /> Prop�rty, allow tlie Property to deteriorate, or commit wast� on ehc Propc��ty. 13orrower shull bc in default if any furteiturc
<br /> action or prixeeding, whcther civil or rriminal, is beguu thAt in L.ender's gnal fuith judgment could result in forfeiwre of the
<br /> Property or othcrwisc materinlly fmpair thc licn crc�itec�by thir Sccvriry Jnstivment or Lendcr's sccurity interest. Borrower may
<br /> cure such a dcfault und reinst:itc,as providcd in paragnipF: 1R, by causing thc action or prcxc�vling tu bc dismisscd with a niling
<br /> that, in Lendcr's gaxi faith deter►nination, precludes forfciwn: of the Aorrotver's intcrest in the Property or othcr matcrial
<br /> impainncnt uf thc (icn crc:ucd by this Sctiurity Instrumcnt or lsndcr's �ccuriry intcrest. Iic+rro�vcr shall also lx in dcfitult if
<br /> l3orrower, during thc loan applicetion process,gave materiully f'alse or inaccurate inforniatic►ra a�r stutcments to Lender(or fniled _
<br /> to provide Lender�vith any materi�d inti�rniltion)in connectiun with the Ivan evidencui by the Nate,including,hut not limited
<br /> to,representations conceimng Bvrrowcr's occupancy of Ihe Property as a principal residencc. If this S��:uriry Instrument is on u
<br /> lenschold. Borrower shall comply �vith ull the prm•isions of thc Ic:isc. lf Honoa•cr acyuires fce tidc tu the Pro{rcrty. the
<br /> Icaschvld a�d thc fee title shall not rttergc u:ilcss Lcnder agr�es to thc mcrgcr in writing.
<br /> 7.Prntcetion of Leuder's Riqhts iu the Property.[f&irrowcr fails to perform thc�rovenanu and agr�cments rnntuiued in
<br /> this Security Instromcnt, or there is� Icbal pr��cding that may xignificandy affcct Lendcr's rights in thc Property(such ;�t a
<br /> proceeclin� in bankruptcy, probate, for cundcmnatian or forfciturc or to enforce laws ur regulations),then l.endcr may do und
<br /> �•ry tor whatevcr is neccssary to rotect the valuc of the {'ropc�ty and l.cndcr's rights in thc k'ropeny. Lendcr's �rtinns may
<br /> ..vdu�ln n:avinu :�nv cumc �c�UT�hY S �ICtI W�11Ch �l:lS prioritY 11VCC Ihlti $CCU�IIy' 111til�Illlll'lll, appraring in rnurt, (1:1Y!(lb'
<br /> __ r_�...o _. .
<br /> rcasonablc anc�rncy�' I'ccs and cnterin�. �,n thr Pru}xrty tc� makc rcpain. Alth�,uEh Lcndcr may takc acti�,n undcr t t+par;i�rap i
<br /> 7,I.cndcr�1�x� not have ti�du w.
<br /> Any :uu�sunt� Ji.burscd by LenJcr undcr thi. parugraph 7 shall hcrumc adJit�anal dcbt uf liurru��rr .crurcd hy this
<br />— Sccurity Iri�wmcnt. Unlr�+ Borro�vcr anJ L�ndrr;�groc a,oNur tennti ol'paymcnt, thr,c amuunt. .hall hcar intcrc�t frum thc
<br /> - dat� uf dixbur�cmcnt .0 dtc Notc r,dc anJ .hall hr pan•:►hla ��•ith intcrcst, upoti nuticc fn�ui I.rndcr ti� H��rruwrr rcyuc�ting
<br />— payment.
<br />° 8.�11orl�a�;c Insaruncc. It Lcndrr rcyuired mnnga�c insur,u�c�a�a condiUim uf making thc li�an ,ccurrd hy thi�Scrurity
<br />— Intitrumcnt. f3urruwct .h:dl pay thc prcmiums rcyuirccl to maintain thc nwnga�;c in.ur.incc in cl�icrt. 1f, for auy rca�un. thc
<br />= nu,rtg:iNc in,urancc ruvcrugc rcyuired by Lrndcr lap�cs or rrasc� tu bc in clfcct. E3orm��•rr ,hall p:�y thc pr�mium�rcyuirc�tu
<br />° obtai7 ru���ri�;r,ub.tantially cyuivalcnt tu thr murtgag� in�urancr prcviausly in eticrt, at a co�t�ub,uinti;dly ryttiv�dcnt t�� tlic
<br /> co�t tu Norn,�vcr af Ihc mu�i�a�� in�uranrc prc�•iuu�ly in cffctt. In�[n un altcmatc murt�ugr irounr appruvrd hy I.�nJrr. If
<br /> • � P,,;o J„�,� Form 3028 9i90
<br />
|