|
i��;:"••F' {•' "`' �_ .. �
<br /> '�r,�.�h+l:. �•, , ,! , .,,,.
<br /> ,`5; , ... .... � ._.. _ ,.._:_l"....»..
<br /> :"4 • *_�({>., ��
<br /> - ��G'i"k:lar=—
<br /> +�.�yJ .., . . t� li,_
<br /> 'i_' ... � - .,..�........�...i�- -'�'�+ '� ` -ty�1e... .:Li.p,,A� :7:. _-- --�
<br /> - �i�4Y4�%�s'�.�. ��� __:Y'..:�SP":y��� _
<br /> . Y _ut . .. -- ---- -'- - � , ____—- . . --
<br /> r' VI��v�
<br /> Ti�c Funds shull Ne held in un institutfun whusc deposits urc insurcd hy a Fedcral +igency, intitrumentality, or cntity
<br /> (including I.�ndcr, if Lrndcr is,ucl�un inst6tuti��n)��r in uny Fcdcrul Homc L��an Bank. I.cndcr tihidl apply ihe Funds tc�puy thc
<br /> Eticrcnv Urms. I.�ndcr may nuc rhni•ge Burruwcr ti�r h�ilding unJ upplying thc Fun�3s,uanui►Ily unulyiing tlic cncrow urrount. �+r
<br /> vcrifyin�;Urc E:yrruw Itcm.r,unic,s l..cndcr pays Burruwcr iutcrest un thc Funilti�m�i applicublc i�nv�x;rmits l.�ndcr ai makc such
<br /> .i churgr. Huwevcr. [AUdcr muy rcyulre Hnr�Y�wcr to puy a onc-timc charge ti�r an indepeixlent reid cytatc tnx rc�x�rting scrvice
<br /> use�l by l.cndcr in ronncction with tl�is luan, unlcss upplicublc Inw providcy �ithcrwisr. Uni�wv un ugrccmcnt is madc ar
<br /> applir;iblc luw rcyuirr�intcrest tu hc puid,[.�ixicr sh.dl nat lx:rcquircd to pay Burrnw�r any intcr�st ur curnings un thc Funds.
<br /> B��rnnvcr und L,cndcr may ugrce in writing, Ix�wcver, that inten�st shall bc paid on ihc Funds. l.cncicr shall give ���Iii�rrowcr,
<br /> with��ut rhargc. un annuul �irr�nintin�uf Ihc Fundc, showing creJitr und dct�i�s ti�Ihc Fuiids und lhc putp�►sc fnr�vhich carh �
<br /> debit to the�unds wus mada Tl�e Funds are pledged us udditiunal security for all sunu�ecured by this Security Instrunient.
<br /> If the Funds held by l.ender exceed the umounts permitted tu be held by upPIicuUle Inw,Lender shc�U account tn Iic�rrcnver
<br /> for the exccs, Funds in uccorJuncc with the rcquircinents of applicuble I,iw. If�he �im��unt of the Fun�ls hcld by[.cnder nt any
<br /> time is not suffieient to puy thc Escrow Items when due.I.ender muy so notify Borrower in writing,und, in+uch cuse Borrower
<br /> shall pay to Lender the umount necessary to make up the deficiency. Horrower shull iti�ake up the deficienry in no mare than
<br /> t�velve munthly paymcnts,at L.ender's sole discretion.
<br /> Upan p3yment in full uf idl sums s�curcd by tliis Security Instrument, [.cnder shull promptly refund ta Bnrro�ver any
<br /> Funds held by I.ender.If, under paragraph 2 I,Lender shall acquire or sell the Propeny.Lender, priar tc� the ucyui�ition ur sale
<br /> of the Pruperty,shall apply any Funds hrld try Le�xirr at the tinu��f arqui,itiun ur wle a+u crcJit agaimt ther�unu hecured by
<br /> this Security In+trument.
<br /> 3, Applicutlon of Pnyment�s. Unless upplicuble luw provides ntherwise, all puynients rcceived by L.endcr under puragraphs
<br /> I and 2 shall be appliui: tint. to any prepxynxnt churgcs duc under the Note;second, to umounts payable undcr paragraph 2:
<br /> ihird.��� intcrest due:f'ourth,tu principal duc:snd last,to any late chargcs due underthe Note.
<br /> 4. Chur�es; Liens. Barrrnvcr shull puy all taucs,ussessnunts, churges, tines and impositions attributuble to thc Prnpeny
<br /> ��-I,�ch niay ntta�n priorin� over this Security Instn�ment, and Ieasehnld payments or ground rents, if any. BoROwer shall pay
<br /> thc•�o, :igation 'n the n, nrn�provi, �d in paragraph 2,or if not paid in that mnnner,Borrower shall pay thern on time directly
<br /> to the persnn owcd payment. liorro�vcr�hall promptly furnish to Lender all notices of amounts to be puid under this pnrugraph.
<br /> If Borrower m�kes these puyments direcdy,Borro�ver shall promptly furnish to Lender receipts evidencing the puyments.
<br /> Horrower shall promptly ditict�arge any lien which has priority over this Secu�ity Instrument unless Borrower: (u)ugrees in
<br /> writing to the payment of the obligation secured by the lien in a manner acceptv�ble to Lender:(b)contests in�cxxi faitli the lien
<br /> by, or defends against enforcement of the lien in, legal proceedingti which in the Lender's opinion uperxte to prevent the
<br /> enforccment of the lien; or(c) secures from the holder of the licn un agrcement satisfactory to Lcnder subordinating thc lien to
<br /> this Securiry Instrument. (f Lender determines that any pan of the Property is subject to a lien which may uttain priority over
<br /> this Security Instrument, Lender may give Borrower a notice identifying the lien. Barmwer shall satisfy the lien or tuke one ar
<br /> moce of thcactions set fonh above within l0 day�of the giving of notice.
<br /> 5. Haaard or Property Insurnnce. 8urrower shall kcep the improvements now existing or hercatter erccted on the
<br /> Property insured against toss by fire, hazards included within the term "extended coverage"und any other hazurds, including
<br /> f'.:c:��ez�!M�ing, fcr�vlsirh L�^�n**e;�!irL��ns�!�ern'r. 'I'h�c inc��ranrP chnll he maintained in the amounts and for the t�ericxls
<br /> that Lender reyuires. The insurance carrier providing the insurance shall be chosen by Barrower subject ta L.cnder's approval
<br /> which shall not be unreasonubly withheld. If Borrower failc to maintain covera�e Jescribed above, [.ender may, at I.encler's
<br /> option,obtain coverage to protect Lender's rights in the Property in accord�ncc with paragraph 7.
<br /> All insur:uico polieies and renewals shall be acceptable to [..ender and shall include a standard mongage clause. Lender
<br /> shall have�he right ta hold the Policicc and renewuls. If Lcnder reyuires,Borrawcr shall promptly give to l.ender all reccipts of
<br /> paid premiums and mnewul not�ces. In the event of loss,Borruwer shall give prompt notice to the insurance carrier and I.ender.
<br /> • Lender m�y make pronf of'loss if not made promptly by Borrower.
<br /> Unless Lender and Borrower otherwise agrce in writing, insurance proceeJs shall be appUed to restor�tion or repair of the
<br /> Property damaged, if the rcctoration or repair is economical(y feasible and I.ender's security is not Iessened.If the restoration or
<br /> repair is not economicully feasible or Lender's�ecurity would be lessened,the inaurance proceeds shall be applied to the sums
<br /> � secured by this Security Instcument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the
<br /> Property, or dces not answer within 30 duys a noticc from Lender that thc insuranm carrier has offered to settle u claim, then
<br /> l.ender may collec:t the insurance proceeds. Lender may usc the procceds ta repair or restor� the Praperty or to pay sums
<br /> securcd by this Security Instrument, whether or not then due.The 30-day period will begin when the notice is given.
<br /> Unless Lender and Borrower otherwise acree in writing, any application of proceeds to principal shall not extend or
<br /> po�tpone the due date of the monthly payments refened to in paragraphs 1 xnd 2 nr change the amount of the puyments. [f
<br /> under paragraph 21 the Properiy is acquired by Lender, Borcower's right to uny insurance policies and praceeds resulting from
<br /> � da►nage to the Property prior to the acquisitian shall pa+s to Lender to the extent af the sums secured by this Security Instrument
<br /> immediately prio�to thc acquisition.
<br /> 6.Occupancy. Preservation, Matntens�nce und Protection oP the Pro�rty; Aorrower's Loan Appltcatlon;Leaseholds.
<br /> Borrower shall occupy,establish,und use the Property as Borrower's principal residence within sixty days after the execution of
<br /> this Securiry Instrument und shall continue to occupy the Property us Bormwer's principal residence for at Ic:ast one year after
<br /> the date o(occupancy, unless Lxnder otherwi+e agrees in writing, which consent shall not be unreasanubly withheld, or unless
<br /> extenuating c:ircumstunces exist which are beyand Bonower's control, Bc►rrower shall not destroy, damage or impair the
<br /> Property, allow the Pmperry to deteriorate,or commit wustc on the Property. Borcuwer shall be in defuult if any forfeiwre
<br /> action or prnceedin�, �vhether civil or criminal, is begun thut in Lender's good faith judgment could result in forfeiture of the
<br /> Property or othenviae matcrially impair thc licn crcated by this Security liistrument or Lender's security interest.Honowcr may
<br /> cure such a default and reinstate,us provided in p:�ragraph I8, by causing the �ction or proceeding tu bc dismisseei with a ruling
<br /> that, in Lcnder's good faith determinution, prerludes forfciwre of die Borrower's interest in thc Propeny nr othcr material
<br /> impairment of the licn crexted by this Secunty [nstrument or Lendcr's secunty ituerest. Borrower shall ulso be in default if
<br /> Borrower,during the loan applicution prucess.�ave materially false or inaccur.ne information or statements to Lender(or faileci
<br /> to provide l.endcr with any material information)in ronnection with the laan e�idenced by t6e Note,including,but not limited
<br /> to, repmsentations concernmg B��rrower's occupancy of the Property as a principal residence.[f this Security Instrument is on a
<br /> Iwsehold. [iorrower shall contply with all the provisions of the Ie:ise. If Borravcr acyuires (ec title to tlie Property, thc
<br /> lc:uehold and the fee tide shall not mcrge unlcss Lcnder:�gmcs to thc merger in writing.
<br /> 7. I'rotection of L.ender's Ri};hts in the Propertv. If Bc�rmwer f'uils to perli�rm thc ruvenunt.und agrccrncnt.cuntaineJ in
<br /> this Security Inctn►ment, or there is a Iegal procceJing thut mery ,igniticuntly afCect L,endcr'>rights in the Pruperty� (tiuch as a
<br /> proceeciing in bankruptry.probutr, tiir condemnation or furfciturr ur tu enforce lan� or regulatiuns). then I�cnJer may do and
<br /> Pay for whatevcr is necess.�ry to protcrt thc�•aluc uf thc Property and Lendcr's rights in thc Property. l.cnder's artionx may
<br /> ' � -- ---.. ....__, �.. .. c-- ...�.:..�. u.... ....:...:�.. ........ .1.:. c.......:�., io.�....n.�.,� ..n.v.urinu m r,�uct navinv
<br /> m��uuc paytttg auy wu�� ac�uiw v. u nui �.n�. .�.,., N......y ...... .... .... .....� ............,..... _rr--....o ... ---•-• �-'� _
<br /> reasunablc attomeys'fc�x and entering an thc Pr��Fcrty to makc n�pair,.Althuugh Le►Zd�r may take action widcr thi.r par��r�ph
<br /> 7, Lendrrdor.nut havc t��Jo.o.
<br /> Any ainounts Jitibunal by Lender u�xlcr thi, paragraph 7 shall hcrumc aJditional debt ot' Bi�rro�v�r +crurcci by tl�is _
<br /> Security Instrument. Unlcss Barruwer and Lcndrr agr�ti to othcr tcrnis��F puyment,thc�c amuunts shall hcar intcrest fram thc _
<br /> Jatc oF di+burscment at thc Note ratc and �hall hr payablc, a�ith intcrcat, up��n noticc from I.endcr tu B.�rrower rcyursting -
<br /> payrrnnt. —
<br /> 8. llturt�H}�e In�urancc. lf l.rndrr myuirc�f mungagc in.uranrc.��a runditiun ut'making thc luan��tiured by this Sccurity _
<br /> D»trumenl. Borrowcr .hull pay thc pmmiumti rcyuircJ tu maintain thc murtga��intiuruncc in �tfrrt. IF, ti�r xny rruwn, thc =
<br /> murtgagr intiursnrr covrraec nyuir��l hy Lrud�r lap>r�ur ccaxti tu hc in ct'f�tit. Bnrru«rr,hall pay thr prcmium.rcyuirrd to -
<br /> obt:tin ciiverage.ub,tuntially eyuiv.dent to thc �i�ong:��r ui.uranrr prrviuu�ly in clTcrt.at a co�t�ub.ttuttiaUy eyui�•alcnt tu the
<br /> ri�tit tu Aun�ua•rr ul thc murt�a�tc in,utancc prc�wu+ly in rl'fcct. frum an .tlhmatc tnurtgagc in.urcr appruv�d by Lcnder. !f _.
<br />_ . r,�o�„�a Form 3028 9190
<br />
|