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<br /> 'I'I�c i�u�idti +hull Ix� hrld in un intiUtuUon whnse �lc�x�sUs aru Intiural by u fMlcr��l ug��ncy. intiiruincntalUy. �►r cntiq�
<br /> Ilnrlusllnµ I.�ndrr. If IAndcr ly,uch n}� intithutl�mi nr in iiny I'cdcrnl Hnmc la�an Ilunk. l.encicr rhnll ap�ly thc 1'u�ulA to piry thc
<br /> 1?ticr�►w hcm�. I.��ndcr ro,�y nut rl�arE;c l�arr+�wcr Gtt holdlnft nnd iipplylnti ihc 1'und�,iionu�dly i�nnlyifn�;�hr c�urnw uccount, or �
<br /> vcrll'yh�p tl�c I:,rraw Itcnu, unlc�h I.�nucr p:iyti Rorro�vcr intcrc,t an thc Hutxlti nnd n�{lUlil�1lC IIIW Fk:l'11UIF I.I:III�Ci(U I1111I�C hUl:II y
<br /> ��chiu•gu. Iln«•rvrr,l.ender nmy �•cqidre liurr��wer to pny n une-timc dwrgr li�r�m inde�x:ndent r�:d c�tute tiiz re�xn•thi�service '
<br /> u�ed hy I.ender in c�nmec:tiun witli �hls luan, unles� appUcahle luw provide+ oU��r�vitie. Unlesx un agreemmn ix mudc or
<br /> :ippUcuhlc Inw rcyuireti intcrc�t ta hc puid,l.endcr shull not bc rcquircd to pay Hurrowcr imy intcrc+t or ali�ning�on thc Punda.�
<br /> lk�rrowcr und I�:nJcr mny ugrce in wrlting. howevor. thut intorest shall bc puid r.n thc Funds. Lcndcr shull give to Bnrrower.
<br /> witliaut chnrgc, an i�itnuul iiccnunting i�f tltc Funds, tihowing credits and dcbits to thc Funds and thc purposc for which cach
<br /> dchit to the Funds�v�is nt�de. Thc Funds nm pl�dLed i►ti ndditiomtl securiry fnr nll yum��erurcd by this Scxuriry inttrument. �_
<br /> If the Fund�s hcld by LenJer exceed the umounts permittcd ta be held by upPlirublc luw.Lcrxtcr sh�ll aaount to I3orrower
<br /> for the excess Funds in accordance with the requirements of applicuble law. If the umount of the Funds helJ by I.ender at any�
<br /> time is nut sufficient to pay the Eticrow Items when due,Lender may sn notify Borrower in writing,and,in such c�.�c Burzower
<br /> shall pay to Lender the umaunt necessury to make up thc deGci�nc�r.Borrower shall make up the de�ciency in no nwn th:�n
<br /> twclve monthly payments,ut Lendcr's sule discretiun.
<br /> Upan payment in full of all hums secur� by this Security Icestnurient, Lender shsll promptly refund to Borro�ver uriy
<br /> Funds hcld by Lender. If, undcr pan�r.�ph�I,[.�nder shall acquire cir sell the Property. Lender, �rior to the r;�;uisitinn or sale
<br /> of the Propeity, shall apply any Fw�ds held by[,ender ut the time of acyui,ition ur�ule a�a rrecht against the�ums tiecured by
<br /> this Sccurity Instrument.
<br /> 3.Applicuttan of Pay[nents.Un!�ss applicublc law provides othcrwise,all puyments received by Lcnder under puragraphc
<br /> I nnd 2 shatl bc applicd: first,to any�.rcpayment charges due under thc Note;secand,to:unounts payable under paragraph 2;
<br /> third,to interest due; fourth, to principul due;and last, to uny late charges due under the Nate.
<br /> 4.Charges; I.iens. Borrowcr shall pay all ta�ces, assessments, churges, fine.ti and impositions attributable to the Property
<br /> which may attain prlority over this Security Instrument, xnd leasehold payments or�round rents, if any. Borruwer shall pay
<br /> thcsc obligations in th�manner praridec!in purngruph 2,or if not paid in that manner.Honower shnll p:�y thcm �n time<linectiv
<br /> to the per,on owed payment. Borcower shall promptly fumish to L.cnder all notices of umounts to be pa�d under this paragraph,
<br /> If Bonower m�kes these payments directly, Borrower shall promptly (umish to Lender receipts evidencing the payments.
<br /> Borrower shall promptly discharge any lien whi�h has priority over this Security Instrument unless Br►rrower: (a)agrees in
<br /> a�dting to the payment of the obligetion secured by ofic lien ►n a manncr acceptable to Ixnder;(b)contests in goal faith the lien
<br /> by, or defends against enfarcement of the lien in, legai proceedings which in the Lender's opinion operate to prevent the
<br /> enfbrcement of the lien;ur(c1 secure. frnm the holder of the lien an egreement satisfactory to Lender subordinating the lien to
<br /> this Security Instrument. If L.ender determines that any part of the Property is subject to u Iten �vhich mav attain priority over
<br /> this Security Instrument,L.cndcr may givc Horrower a notice identifying the lien. Borrower slau?1 satisfy�he lien or tuke one or
<br /> more of the actions set forth nbove within IQ days of the giving of notice.
<br /> 5. Hazard or Prope�riy Insurnnce. Horrower shnll keep the improvements now existing or tnercaf�er erected un che
<br /> Pro{aerry insured against loss by fire, huards include�l within the term "extendec3 coveragc" and any uth:r isiuerdn, imcluding
<br /> 41c�ocls or flaoding, for which Lender requires insurnnce.This insuranc��hall be maintalned in the amount�:ant3 for a6��paraixis
<br /> '' a• Th� i:i58i'.itt::.^�f'i'1CC ln••'�tR^ «h� :.^.�..tti".r^..:: 5.�! �."..'C�lncv�hv �tn�rnu,ar«hePrt t�(amder'c a;ti�r,nval
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<br /> which shall not be unreasonably withheld. If Horrower fails to maintain coverage described above, Lendrr may, ut I.�nder's
<br /> option,obtain coverage to pracct Lender's rights in the Propeny in accordance with paragrnph 7.
<br /> All insurance policies ai�d renewals shall be acceptable to Lrnder and shull include a standard mortgage clause. Lender
<br /> shull have the right ta hold the policies and rencwuls. [f I.ender rcyuims, Borrower shall promptly give to C.endcr all receipts of
<br /> paid premiums and renewal notices.In the event of loss,Borrower shall�ive prompt notice to the insurance carrier and[.ender.
<br /> I.cndcr may makc prcx�f of loss if not madc pn�mptly by Borrower.
<br /> Unless L.ender and&rrrower cuhenvi�e agree in writing,insurunce prcxeeds shull be applied to r�storation or rcpair of the,
<br /> Propeny damaged,if the rctiwration or repair is economicully feasible and I.cnder's sccurity is not Iessenal. If the rcstorutlun or
<br /> repair is nc�t ecanomically fcasible ur Lci�der's+ccurity would be Iessened,the insurance procee�Js.rhal l he applied u�the:+ums
<br /> secural hy this Security ln,trumcnt, whcther ar nat thcn duc. with any eare�s paid u� Born�wer. If Burmwer abmxlons the
<br /> Property, i�r daes nat answer witttie 30 Jays u n�itice from Lender that the insurance carrier hus offered to seule a rlaim, thcn
<br /> Lender n�y collect the insurance prace�ris. Lei�der may use the pr�cecls to rcpair or re.r•tore the Pmpeny ar to pay �;ums
<br /> Secur�a,l by this Sccurity Instnm�nt,whether nr nat then due.The 3U-day Exri�xl will begin when the notice is givcn.
<br /> Unless l.endcr :►nd Borrower othcrwise :►brce in writing, any application of pmccedti to principal shull not extend ar
<br /> pustpnne the due date of the monthly payments rcferrcd to in paragnphs 1 and 2 or chunge the umount of the payments. If
<br /> u�xier paragtuph 21 thc Praperty is acquircd by Lender,Bormwcr's right to uny tnsurance policies and proceods resulting frum
<br /> . danwge to the Property prioc ro tt�e acyuisition shall pa�s to Lender to the extent of the sums xecured by this Security Instrument
<br /> immediutcly prior to thc acquisition.
<br /> 6.Occups�ncy,Preservetbn,Afainten�nce and ProtecNon of the Property;Borrower's LoAn Application;Iw�seholds.
<br /> Borruwer shall�xcupy,establish, and use the PropeKy as Borro�ver's principal residence within sixty d:.ays ufler the execution of
<br /> this Security Instntment und shul l continue to occupy the Property as Borrower's principal r��sidence fi�r ut le:ist one year atter
<br /> the date of occupancy,unle.�Lcnder othenviae agrees in writing, which consent shall not be unreawnubly withheld.or unless
<br /> extenuating circumstances exist which are beyond Bonower'ti cuntrol. Iiorrower shall not destroy. dama�e or impair the
<br /> Pn�perty, allow the Pcoperty to dctcriuratc.or commit waste on the Pmperty. Borrowcr shall be in default if any forfeiturc
<br /> action or proa�eding, whether civil o� criminal. is begun that in C.ender's good faith judgment rould re�sult in forfeiture of the
<br /> Propeny or utherwise materially impai r the lien crcated by this Security [nstrument or l.ender'�security intercst.Rorrower may
<br /> cure such a default and rcinstate, as provid��1 in paragraph 18,by causinF the action or procee�iing to be dismissed with a ruling
<br /> that. in [.cncicr's gooci faith deterniination. pmcludes forteiture of the Borcowcr's intcrest in the Property or othcr matcrial
<br /> impairment of the lien creatqi by this Security Instrument or Lender's security interest. Borrower shall also be in default if
<br /> Bonower,during the loan applicatwn process,gave materially false or inaccurate mformation or staterrtents to Lender(or failed
<br /> to provide Lender with un}� material information)in rnnnrction �vith tlie loan evidenced by the Note, including,but not limited
<br /> to, repretient�ti�ms conrtrning Bc�mnver',occupancy of the Property us a principal residence. If this Securiry Instcument is on a
<br /> Icaschold. Borrow•cr shall �romply with all the pmvlsiuns uf the Icase. If Bmrower acquircs fee title to thc Propeny, the
<br /> Icaschold und thc fce title shall nc�t mergc unless Lendcr agrees to the merger in writin�.
<br /> 7.ArntecHon of I.ender's l2tgh��tn the Ptti►perty.If Rum���•er lail�to perforni th�cuvcnant.anJ agrccmrnt,cuntain�i in
<br /> thi. Scrurity In�trumrnt, or thcrc is a Icgal prurcaiing that may�ignificandy aCfcct Lcnder'�right� in thc Pn�perty (.uch as a
<br /> pnx�Yling iu banktuptcy, probutc.for mndemn:�tion or furteitum or to cnfi�rcc la�vs ur regulation�l. thcn Lrndcr may do and
<br /> �ay for���hatevrr i. necc":iry tc�protrct the value of the Property anJ Lender'� rightti in the Property. Lender'�actiims may -
<br /> mdudc paying any �ums ��YUrrd hy a licn whidi ha, pnurity u�•cr this Sccu�ity [nstrument, appwring in ruurt. paying
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<br /> reasonaote acm S� ICCti'l(lU Ct�fCt1I1• Uq lnC rto Ii•iv iiiii�2 ic iiiia. nwnru•a a.�nu�� ���u'iun�u�:::.: .•"•••"•
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<br /> 7, Len�ier docs not havc to Jo x�.
<br /> Any anwunts �i+bun��1 by LcnJcr undcr this paragrsph 7 shall bca�mc addition�l debt of Bom��vcr sccurcd by this
<br /> Securiry Instrument. Unlcss BornnvFr and Lender agree to uther ternis of payment, these amountti,h�ll bear interc�t fmm thc
<br /> datc uf disbunemcnt at thc Note ntte and shall be payable, with interctit, upon n�uicc front Lcndcr to Durnnvcr reyuesting
<br /> paymcnt. -
<br /> 8.\tort�age Insurance.lt'l.eitdcr ntyuined mortgagr in�ur.uire as.�amditiun uf making thc loan scrurcd by this Security -
<br /> tnstrument, Borniw�r�hall pay the pmmiums r��quin�i tu maintain thc nturtg;��c insuranrc in effect. If, fur any re;�on, the
<br /> mortga�;r insur.uice ruvcragr rcyuin�l b}� Lcndcr lapscti or cca�es to Ik in cff��ct, Borrv�vcr tihall pay thc premiums rcyuir��1 to
<br /> - ubtain mver.�ge wb.tantiall}•�yuivalent tu th� mimgage in�urance prc�•iuusly in effect, ac a��nt,ubtitantially eyuivalent w the
<br /> ro�t to &inr�vcr uf thc munga�*c in�.uran��proviautily in c(F�tit, fmm :ui �Itrmatc murigagc insurer approv��1 hy l.ender. If
<br /> • � Naqo 7 0�4 Form 3028 9l90
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