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<br /> 97�• �0499�
<br /> Thc Funds shull hc hcld in un institution whosa d�pusits arc insurcd by n Fnicral ugency, inhinim�ntulitv, ur entiry
<br /> (iocluding I.endcr.!P l.endcr is tiurh im in�titu�iun)or in uny Fcdcral Nomc l.�►an flank. Lcndcr sliull upply thu(���nd�c��nuy�r«,
<br /> f?�rmw Items. l.cndcr muy n��t churgc Burn►wc�liir holdin�und upplying tl�c 1'unds.+imiuully unulyiinF;th�+cx:ruw��cc��imt,��r
<br /> vcrifying thc f?scruw Ucros,�mlcss l.cndcr p:cyc Iiurruwcr intcresl un ihc Fundti and;ipplicablc la►w{xrmit�. I.cndur tu mukr�:ua1i
<br /> u chargc. Huwcvcr, lAiKlcr nury rcyuiru t3orruwcr ti� pny iA nnc-ti►nc chur�c for un independcnt rc�d cspitn�ux rcpi,r�ing+c�rvii;r
<br /> us�vl by i.�ixler in connccliun widi thly lu:w. ��„i�.� +�ni�i+��nic Inv� pruv�des othcrwisc. Unless llll i1�;P�ti111�'lll If+ mutic+ ��r
<br /> uppllc�iNic iu�v requlreti intcrc�t tu tk paid, l.cixlcr shuU nut tx:rcyuircd tu pay [i�►rruwcr uny intcrctit ur carnin{+.�m Ih��I�undr„
<br /> I��rruwcr:uHl l�:iKlcr may ugr�c in wri�fn�;. hnw�vcr. Ilmt inlerc.rl�+lu�ll tx�(�aid�in thc FunAc Lcndcr shull g���o tu ii�►rr�����tr.
<br /> withuut chargc. an;�eu�uul uccuu+ninL��t'�hc I�und�. �Iu�winE! crr�li�ti ruid dcUi�s w tl�c F�u �i �i�4 nam�,5� fur �+d�lah c�k�h �
<br /> drbit t,�Ihc fuixis wus mirlc.'1'hc I'unJy n�r pl��l�crl uti+�Idilional kcurity far ull sums sc� his Sc.cur�ry In�trumant.
<br /> If ti�c Fu�Kf�hcld hy 1��x1cr cxcced d�c umounts pcmiittcd tu Ix hcld Uy upplicablc ��r shull n��a�unt to Horr��wrr
<br /> fur Ihe excesti 1'wxls in urc��rdunrc with the reyuirementfi uf applicuble L•�w. If tt►c amount , rund�,hald by Lendar nl un}�
<br /> time is rn�t sufliclent ta puy the Cscrow Itcn�s wl�en duc,l�e��der nuiy s�i noiify Borrower in w�rting,and.in such c���H�irr�a���4r
<br /> �hzdl pay to I.ci�lcr thc umc�unt neccss�►ry to mnke up thc deficiency. &�rruwer shall makc up thc dc;fic�ency in no nmm tht+n
<br /> �wclve monthly payincnts,ut l.ender's sole discretion.
<br /> Upon puyment in full 01'i�ll sums securcd by this Security lnstrument. L.ender shull promptly refund tc► Bot•mwer any
<br /> Funds hcld by Lcndcr.lf,ur�icr paragraph 21,I.c��dcr shall acquirc or scll thc P�pcny. I.cixlcr, prior tu tho n�:yui�iti�n��r saln
<br /> of thc Pruperty, shal!apply any�unds hcld by Lcndcr ut thc time af acquisition��r sale as a crociit aguinst tha sums sccumd by
<br /> this S��curity Inst�umcnt.
<br /> 3.ApplteaUnn ot Psiyments.Unless upplieuble Inw provides otherwise, ull paynxnt5 received by Leucic�r undor purn�;r.iphe.
<br /> I und 2 shull be wpplied: first, to uny prep:�yn�ent char�cs duc under tlie Notc; second, to umaunts payablc�undcir pamgr►ph d'.:
<br /> third,to interest due• fourth,to principal due;und last,to any late cht�rges due undcc the Notc.
<br /> 4. Chargesi Lienv. Barrower shall pay all taxeti,assessmenta, charges. fines and impositions uttributnbla to thci Prop�rry
<br /> which may attuin p��iority over this Sccurity Instru�ent, und leuseliuld payinents or ground rents, if any. Bormw�r shi�tl pmy
<br /> these obligations in the manner provided in paragraph 2,or if not paid in thut manner,Borrower shall pay tl�nm on timo di[xctly
<br /> to the asrson owcd payment.Borrower shall prompcly fur�ish to L.ender all noticcs of amounts ta be paid undc�r thle�pamgr,ipli�
<br />. a"_'...:_..-....:.1..« ' �hu t�n��Ota�T1a
<br /> !f Borrower mukes thcse payments directly. Borrower shalt prompiiy iun�i,i�►.,;.�����. .......r�-•.........�:^b �•��r.-��•-•••
<br /> Borrower shull prompdy discharge any lien which has pnonty ovcr this Security instrument unluss Hatro�vr.r:(c�)ugreys in
<br /> �vriting to th�pnyment of the obligation securod by the lien in a mam�er acceptable to Lender;(b)cantostt;in gocxl fc►itt�.thW lian
<br /> by, or defends against enfoncment of the lien in, legal proccedings which in the Lencier's opinion apernta n� prev�nt.tita
<br /> enforcemcnt of the lien; or(c)secures from tl�e holder of thc lien an agreemcnt satisfactory to Lendc�r sabordinating titn lirn�to
<br /> tliis Security Instrument. If I..endcr determine.s thnt any part of thc Property is subjcr.t to a lien whicf�mA��nttnin prinrity over
<br /> this Security Instrument. l..ender may give Barcs,we�a notice identifying the lien. Borrower shall satiFfy tt�n If�n ar►tikn one or
<br /> more of thc actions sct f�rth abovc wilhin 10 days of the giving of noticc.
<br /> 5. Hwzard or P�+aperty Incurnnce. Borrower shall keep the improvc►nents now existing ar hflresRar en:rcvd on the
<br /> Property insured against loss by fire, hazanls�ncluded within the terni "extended cavernge" and any otlaar h�xonfE, including
<br /> tZoods or fiaxiing, iu�wiiict,f..er�ci i�t�U1i"'..;ir.s;;�.sze.Th9°.i^�»;».^.:=�h�u t,�m�nrainMi in the amnunte and fur tha periods
<br /> that I.ender requires.The insurance carner providing the insurnnce shull be chosen by Borm�ver subject tn Lendor's approval
<br /> which shall not be unreasonably withheld. If Borcower ft�ils to maintain covernge descrit�ed abovr�. Lendur iray, at Lender's
<br /> option.obtain coverage to protect Lender's rights in the Property in Accordance with pamgrnplt 7.
<br /> All insurancc policies and renervals shull be acceptable to Len�er and shall includa n stnndcmd murtgage clause. L,en3er
<br /> ; shall have thu right to hold tbe policies and renewals. If i.ender reqwires.Barrower shull promptl�i gi���to L.ender all rectiptc of
<br /> paid premiums und renewal notices.In the event of loss,Borrower shall give prompt notioe to thr ins��mnce carrier and Lender.
<br /> I.ender may make proof of loss if not made promptly by Bonower.
<br /> Unless Lcndcr and Barrower otherwise ngree in writing, insurancc procoods shall be applial�to restoration or mpair of the
<br /> Propeny damaged,if the restorution or repair is economically feasiblc and Lender's security�s not lussenai.If the restoration or
<br /> � repair is not economically feasible or I.crtder's security would bc lessencd, the insuttuwe prooeaic shall bc applial to the sums
<br /> secured by thia Security Instrument, whether or not then due. with any excess paid to Bonn�ivrr. If Borrower abandons the
<br /> P�nperty,or does nat answer within 30 days a notice from I.ender that the insurance carricr h�rs offered to senle a c�sim.then
<br /> l.ender may mllect the insurance procceds. l.ender m1y use the proceeds to repair or restnn� the Propetty or to pay sums
<br /> sccured by this Security IInstrumcnt,whether or not then due.The 30-day period will begin whtm thc notice is given.
<br /> Unless I.ender and Bonower otharwise a�ree in writing, any application of proceeds tn principal shall not extend or
<br /> postpone the due date af thc monthly �payments referred to in paragraphs l and 2 or chang�the amount of the paymes�ts. If
<br /> under paragraph 21 Ihe Property is ac�uired by Lender,Borcowes's riglit to any insurance policfes and proceeds resultin�,from
<br /> damag�to the Properry prior to the acquisition shali pass to Lender to t�e extent of the sums scearod by this Securiry Inst�ument
<br /> immediately prior to the ucquisition.
<br /> 6.Occu�ncy, Preservatfon,l�laintenance wnd ProtecHon of the Property;Borroe•er's I.uan App�licattlon;Leasef�olds.
<br /> : Bormwer shall occupy, estaMish,and use the Property us Borcower's principal residcnce within sixly days after the executioh of
<br /> this Security Instn►ment an�i shaU rnn�inue to occupy the Property as Bonower's principul r+x;idrnce fur at least one year after
<br /> the date of occupancy, unless Lender otherwise agrees in writing,which consent shall not bc unrcasonably withheld,or unless
<br /> extenuating circumstances exist which are beyond Borcower's control. Borrower shall iiot destroy, damage or impair the
<br /> Property, allow the Property to detcriorate,or commit waste on thc Property. Borrowcr sleall be in defnult if any forfeitune
<br /> : actton or proceoding,whether civil or criminal, is begun that in Lender's goad faith judgm:nt could result in facfeiture of the
<br /> Property or otherwisc materially impair the lien created by tlils Security Instrument or Lendor's security intcrest.Borro�ver may
<br /> . cure such u default anJ reinstnte,us provided in paragraph I8,by causing the action or proreeding to be dismissed with a�ling
<br /> ' thnt, in G;ndcr's goad fuith dctern�inition,preclucles forfeituse of the Bonower's interest in the Propeny or other material
<br /> impairment of the lien cn:ated by this Security Instrument or l.ender's security interest. Borrower shall also ix: in default if
<br /> Bonower,during the loun applicntion process,gave materially false or inaccurate informa:ton or statemerets to i.ender(or failed
<br /> to provide L�:nder with any mnterial information)in connection with the loan evidenced Uy thc Note,including,but not limited
<br /> to,reprcsentutions concernmg Borrower's occupancy of the Pmperty us a principal residenee. If this Security instrument is on a
<br /> leasehold, Borrower shall comply with all the provisions of the Ie:ise. If Borrower acquires fec «tle to thc Property, the
<br /> leauhold and thc fec title shall not mergc unless Ixnder agrees to the mcrger in writing.
<br /> 7. Protectlun of Lender's Righte in the Property.if Bnnower fails tu perform ttte covenants and ugrcements containal in
<br /> this Security Instrument, or therc is a Icgal procceding thut may signifcantly affect Lxnder's rights in the Property (such as a
<br /> proccoding in bank�uptcy, probate, for coi�dcmnntiun or forfciturc or to enforcc laws or regulations), then I.euder may do snd
<br /> aav for whntever is�xcess:►ry to protect thc value of the Property and[.cnder's rights in thc Property. Lcndcr'� actions may
<br /> �_
<br /> include paying uuy sums �cured by a I�en wh�eh hns prion[y over tnis �ecuriry insm�meni, appcariug in wuu, pajwg
<br /> rcasunablc uttunxys'fces a�xi cnccring on thc Propc:ny to makc rcpairs.Althoubh L.cnder may takc:ictiun unJcr this paragmph
<br /> 7,Lcndcr docs not havc to do sa.
<br /> Any amomits disbursal by Lcnder undcr this par3graph 7 slinll bccumc adJitional debt of Borrowcr sccurcd by this
<br /> Sccurity Instrumerit.Unless Borrower and Lcndcr ngree to other tcrnis uF payment, thcse amounts shnll txar intercst from the
<br /> date of disbursem�nt ut the Notc rate und shull be pnyable, with interest, upnn notice from Lender to Borrower rcyuesting
<br />— payment.
<br />— 8. Mortgyge Insurance. If Lc:ndcr required mongage insuranue us u condition of making the loan secureci by this Security
<br />_ Instrument. Borrower shall pay the pn:miums ��equired to maintuin the mortguge insurance m effect. If, for any rcason, the
<br /> ¢nortgage insurance coverage req�i►+ed by i.ender lapses or ceuses to be in effect, Borrower shall Pay the premiums required to
<br /> obtain covcrage substuntinlly c�uuivalcnt to the mortgage insurance previously in effcx:t,at a cost subswntially equiv�lent to thc
<br /> cost to Borrowcr vf the mortgage ii�surance previously in effect, from an altcrnate mortgage insurcr approved by Lc�xlcr. If
<br /> — Poge 2 0�4 Form 3028 9l90
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