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<br /> The Funds shall ba hsid in an institutian �vhase deposits aro inaured by u federal a�ency. instrumen�ality, or entity '
<br /> (including Lender,if Gender iti such un institution>or in any Pederul Hume i.oun Bank. Lender shatl apply the Funds ta puy the
<br /> Escrow Items.I.ender may nat charge Harrawer for halding und applying the Funds,annunlly analyr.ing the escrow uccaunt,or
<br /> vesifyEn�the Sscrow Items,unlesF I.ender pt►ys Rc►rmwer interer;t�n thc Funds and npplicnbla luw permits Lender ta mako suclt�
<br /> u chwge. However, Lender moy require Borrower to pay u one-time cluuge fur un independent reul eswte tux reporting Fervice
<br /> used by I.ende� in cannecttan with this loun, unlesa Applicuble luw pruvides otherwise. Unless an ugrcement is mudo u�
<br /> applicable law requires intorest ta be�aid. Lender shnll not he requirecl to puy Borrower uny intcrest or eamings an the Funds
<br /> Horroti�rer and I.ettder may ugree in���riting.however,that interrst shall bc paid nn the Fund.v. Leseder slwll give to Borro�erp�
<br /> without churge, un unnuiil accounting of the Funds, shnwing cn�iitw and debits to the Funds and thc purpotie fi�r which et�cl�
<br /> dcbit to the Punds�vus mude.'fhe Funds un:plexlgc�l u.r udJitiunul,e�urity iur uli r�mnh sccurut by U�ih S�:�urfty tn5trwnent.
<br /> If thc Fundti hcld by l.ender oxceaf the umount+pern�ittal to bc held by npplicublc Inw,I.encler nhall�u:couut W I��rruwe
<br /> Car thc cxccss Funds in uccordimcc with thc rcquiremcnts of iiprlicublc Imv. If tl�e umoum uf thc F�undq hcld hy l.��ndcr a�i�n
<br /> timc ix nur,ruf8cient to puy the f�scmw Itemx when due,l.enJer mi�y no m�tify Burr��wer 1n writing.unJ. in�ucl�ra+e 8i�ra►wer
<br /> sl�ull puy t�i I.cnder tlk umi�unt ncrctiwry cn muke up the deticlency. 8or►uwer xhnll make up tl�c deficicncy in no mnre thnn
<br /> hvclvc m�►nthly ptrymentw.ut I.cndcr's rule discrction.
<br /> U{xm puymcnt in full nl'cdl snmti u�und hy thiti Sccurity Enstrument. l.cndcr whull promptly rc!'un�! tu Horn�wcr uny
<br /> FuRdx hcld by L.ender.If. under puru�ruph 21.txnder+I►uil ucquire ur 4c11 the Pmperty, Lcnder,pric�r to the uryulsition or gule
<br /> ��f the Pmperty. shutl upply uny Funds heid by l.ender ut the time uP ucquinitian or yule as u credit ugaimt the+umx secured by
<br /> thiti Serurity Instrument.
<br /> 3.Applloatlon of Pt�ymcnte.U�less upplicable law ptavtdes othcrwlse,nll puymenta recelved by L.ender undcr pan►graphs
<br /> 1 und 2 shuU be applied: first. ta any prepayment charges due under tha Note: second,ta nmounts payuble undcr parugmph 2;
<br /> third,to interest dua;fourth,to pri�cipul duo;and last,to uny late churges due under the Nute.
<br /> 4.Charq�i I.lenr. Borrower shaq pay aq taxes,nssessments.charges, fines und impositions attributuble to the Property
<br /> which may attain priority over this Security Instrumont. und lea.cehold paymenu or ground rents, if any.Borrower tihall puy
<br /> thesa obligutions in the manner provided inparagrnph 2,or if�nt paid in that manner.Borruwcr�huil pay the�u un time directiy
<br /> to the persan owed payment.BorrAwer shall promptly furnish to L.ender ull rtatices of umounts to be paid under tbis para�ruph.
<br /> If Barrawer makes these payments directly.Borrower shall prom�tty fumish to Lender receipts evidencing the payments.
<br /> Borrower shull promptly discharge any lien which has pnanty over this Security Instrument unless Borrowcr: (a)asree�in
<br /> wrtting to the payme�t of the obligatIon secured by the lien in a manner acceptable to I.ender;(b)contests in goai faith the lien
<br /> by, or defends against enforcement af the lien in, legal proceedings which in the L.ender's opic►ion operate to prevent the
<br /> enforcement of the lien;or(c)secures from tho holder of the lien an agreement satisfactory to Lender subordinating the lien to
<br /> thfs Security Instrument. If Lendar deterntines that any pan of the Property is subject to a lien which muy anain pdor�ty over
<br /> this Security Instn►medt. I.ender may give Borrower u notice identifying the lien.Borrawer shall sutisfy the lien or take one or
<br /> more of the actions set forth abave w�thin 10 days of the givin�of notice.
<br /> S. HazaM or Property Insurence. Borrower shall keep the improvaments now existing or hereafter erccted on the
<br /> Property insuced aguinst loss 6y fire, hazards included wtthin the term "extended coverage" and any other hazants, includin�
<br /> floods or floadi�g,far whIch I.ender requires insurance. This insurance shall be maintained iu the amounu and for the periods
<br /> that Lendgr mquires.'rne msurnnce eamer providing rhe insucance shaii be ci�o�cn i,y Bu;io�cr subja�t to i.e�r�'a�p;cr:w
<br /> which shall not 6e unreasonably withheld. If Borrower fails to maintain coverage described above, l.ender may,a� 1..¢nder's
<br /> optian,obtain wVerage tu protect l,ender's rt�hts in the Property in eccordance with paragraph 7.
<br /> All 3nsurance policies and renewals shall 6e acceptable to I.ender and shall include a standard mortgage clau.s�,-Lentter
<br /> � shall have the right t�hold the policies and renewals.If Lender requires.Borrower shap promptly give to Lender all c+eceipts oE,
<br /> pa�d premiums and re�wal notices.In the event of loss, Borrower shall give prompt notice to the insurxnce carrier and I.ender. ,
<br /> I,ender may make proaf of lass if not made prnmptly by Borrower.
<br /> Unless Lender and Borrower othenvis,.agree in writin�,insurancc proceeds shall be applled to restoration or repair�f the
<br /> Pmpercy damaged.if•ihe restoratinn or repair is ea►nomically fea.sible and i.ender's securlty�s noi lessened.If the restorntion or
<br /> repair is not economicelly feasible ar Lender's security would be lessened,the insurance procesds shall be applied to the sums ,
<br /> secared by this Security Instrument, whether nr not then due, with any excess paid to Borrower. If Bomower abandons ehe
<br /> p�,opetty,or dces not answer within 30 days a notice from I.ender that the insurance carrier has offered to settle a claim,there
<br /> Lender may mlleti`the insurance proceeds. I.ender muy use the proceeds to repair or restore the Ptnperty or to pay sums '.
<br /> sacumd by this Security Insnument.whether or not then due.The 30-day period will begin when the nouc:e is give�q..• � '.�.
<br /> Unless Lender end Borrower otherwise ugree in wridng,�any application of proceeds to principal shai! n�t exlend Qc .
<br /> gostpone the due.date of the monthly payments referred to in parngrapbs 1 and 2 oy char�ge the �mdunt of the paYments. If . ' ,
<br /> under paragraph 2l t6e Property is ucqnircd by I.ender, Bonower s nght to any insurance policles�+proceeds resuitins from
<br /> damage to the Properry prlor to the acquisition shali pass to I.ender to the.extent of the sums secur�P b�y�t11is Security Insttumene '
<br /> immediately prior ta the acquisition.
<br /> 6.Occupancy, Preservation,Meintenance and Protecttort of the Property;BortMS�ver's Loun AppltcaHon;Leaseholds.
<br /> Bormwer shall occupy,establish.and use che Property es Borrower's prittcipal residence withi�sjxty days after the execution o�
<br /> this Security Instiument and shall continue to occupy the Properry as Bqrrower's principai residence for ut least one year afCc-s �.
<br /> the dnte of oocupancy,unless Lender otherwise agnx�i��writtng. which consent shall not be unmasonably withheld.or urt[ess
<br /> extenuating circumstences exist which are beyond Borrower's rnntroL 8orrower shall not destroy. damage or impair tite
<br /> Property.allow tha Property co deteriorate. or wmmit waste un the Property. Borrower shall'b�in default if any forfeiture •
<br /> action or proceedin�,whether civd or crimina(.is begun that in Lender's good faith judgment could result in fodetture of the
<br /> Properry or otherw�se materially impair the lien created by this Security Insuument or L.ender's securiry interest.Borrower may
<br /> cure such a defautt�nd reinstate,as provided in paragraph 18.by ca�sF�she action or prcu�d�n�oa be dismissad with a ruling
<br /> that, in I.ender's good faith detemilnation, precludes forfeiture of c�_e Sorrower's int�t irr d�:. Propecty or other muterIal
<br /> Impaimient of the•tien created by this Securiry Instrurteent or I.e�dr3`s security ini�n.=sr. �3naYOwer shall also be in default if
<br /> Borrower.during the loun application process.$ave mnterially false ar iaaaurate inturmation or statements to Lender(or failed
<br /> to providc i.ender with any material informution)in oonnectioa with the loart evidenced by the Note,including,but not limited
<br /> to,representations ooncem►ng Borrower's occupanry of the Propeny as a principal restdence. If this Security Instrument is on u
<br /> leasehold, Borro�ver shali compiy with all the provisions of the te.ase. 1f Borrower acquires fee title to the Property, the
<br /> leasehold and th�fee title shail not merge unless Lender agrees to the�rterger in writing.
<br /> 7.Protection o!Lender's Rights In the Piroperty.If Borrower feils to perform the rnvenanis and�agreements oontained in
<br /> this Security insuument. or there is a legal proceeding that may significantly uffect Lender's dghts in the Pioperty(such as u
<br /> pmceeding in bankruptcy.probate, for mndemnation or forfetture or to enforce lu�vs o:regulutions).then I.ender may do artd
<br /> pay for whatever is necesssry to protect the value of the Property and Ixnder's rights in tt�e Property. I.ender's ac�ttons may
<br /> includc Daying any sums secured by u tien which has prionty over this Security Inst�ument, appearing in rnun. paying
<br /> _�
<br /> reason�ble attomeys'fees and entering on the Nroperty[o maice cepairs. Aimougn i.enuer may iuic�usii�t�u�icici ini;�,a�cy�ay,�.
<br /> 7,L.ender dces not havc to do so.
<br />- Ariy amounts disbur�d by txnder under this parugraph 7 shall becume udditional debt of Borruwer securcxi by this
<br />- Secs�rity Instrument.Unless Bottower artd Ixnder agree to other terms of payment.thesc amounts shall bear intetest from the
<br />° date of disbursement at the Note rnte and shall bc payable, with interest, upan notice from I.ender to Eiorrower reyuestin�
<br />- payment.
<br /> 8.Mortgage insurance.If Lender required mortgage insurance as a condition of making the toan xcurc�by this Szcurity
<br />° Instrument. 8otrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for aey reason, the
<br />= mortgage insurance coverage required by Lender lapses or ceases to be in effect,Borrower shall pay the premiums requircd to
<br />- obtain wvera�e substaruially equivalent to the mortbage insurance previously in effect,at a cost substuntiully equivuleut tu the
<br />- cost to Borrower of the mortgage insurance previously in effi�t, from an ultemnt$moRga�te insurer appr+oved by Lender. Ct'
<br /> • Fesm 30?A AlRO
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