|
� t S ''}��• _ t�-%i',T_ _ — - � �� .. _r r >`e'='..r�,- `. � � ; j 5 y_�}Y�` '4'F - 'y--���'� �' _
<br /> cw ✓< �A � .� �. F q 5 �.t`� � .yt`n''L�j3-• r .Z rN
<br /> cr,,... ' -Y- � o:a• 5�� ':i� f.:. =�<.. r �1� 6
<br /> _ _ _ '(' h - '�' ' - • -
<br />-. a � , . .CY� .�_
<br /> . ;�:,`'.,,: `c", ` . • TAt�fhiEN WITFt all the.improvenerts now or he�eaft� e�ected on the prope�ty. and ell easemerrts. aPPurtenances. end f' `.4..- ^� :�° �:
<br /> `..•'..• ; Y. .. .._:,�. . .�,`':.'.�
<br /> � fi�ues now or herea�r a part at the P�A�!►.AD replacemer�is at�add3lens shaU slso 6e cavered by thIs Seauity Instrument. ,,'� ...::,4�;r
<br /> . �� .. _ 'AD of the toregoing fs referte9 t9 In thfs 8ean[ry tr�swmenY as the'ProAerry.� _..
<br /> eferte9 �' �.. .,�e..�.„�..,
<br /> , : ,`•.i' , .. � ... .
<br /> ' BORROWER COVENAI�iTS that Bortower Is IawPulty sehed ot the estate herehy comeyed end has the dght to grartt and - ,-.,.' .
<br /> ' �; eartvey the i�mperty and that tAs P[operty is unenwmDece4 exc�t tor enaumbtances ot record. Bocrow�warrants and vnU •�.°°.:4, � 'Y:;s�:�`� "
<br /> defend gen�aRy the titlelo the Property agatnst a0 daims artd demands.subject to any encumtiranees at�ecord. ,�;'t
<br /> ._,' THIS SECURf71f INSTRtlMENT comhin� unitortn covenants tar natfonal use and non-unHorm eovenarrts with limited � :-
<br /> .�A�.
<br /> - � . �arlatians try Inrtstfi��Ion to eonsL'tute�unHarm seatcHy lnsbument co�redng real propertY. '�•:s`:,�' ::�°<
<br /> c UNtFOAM COVEtVANTS. Bortower end I.�der covenant and agrea as toilows: ,:�:� .. `
<br /> . . o
<br /> . `. 1.Fayn'tBlIZ O'f PrinCi��l 8ttd Ii140�� ���etit ettd L.et� C�181ge9.Bortower sha11 promAUY paY when - _
<br /> F '� 4.c
<br /> 't� ' �� due the prtndpal of and U�terest on the deht evideneed by the Note and enyt p�Aayrt►er�t end late charges due under tha Note.
<br /> e
<br /> `�' 2. Funda to�Taxes an� Insur+anea.Subjeet to appQcabte IaN►or to a EvriKKen walver by Lender.Bortower shaU pay ` ` �
<br /> , < ��.: ':: �� �
<br /> •, ' � `• � to Lendfa on the day moMhly paymer►is are due undar the Note.emtit the Note ts paId"m futi. a sum('Funds')tor (a)yearly �$
<br /> .. i�� � `�`e.�_�.y-:.°-r:�«.
<br /> , • • ' faxxess and assessmelrts whtch may atffiir� prioriiy over thts Seau[t�l Instrumerrt as a Qen on the ProPerty. (b)Year1Y teasehofd � ��
<br /> :. t;,.Y-_
<br /> � ` �""`"� PeYments ar ground rents an the Property. H any, (e)Ye�l hamrd or property insurdnce premfuma (�Y�N ftood insurance 1 :,.::;'
<br /> ,��,` �.�� � ,;:.c=�-:
<br /> �,:_ premfums.if any.(e)YeartY mortgage tnsurance premtums.it any:end(n any sums payabie by Borrawer to Lender in accordance r✓�
<br /> :, �'��. wrth the prwLsions of para�apfi 8. in i�eu ot ttre payment a!martgage k�s�mece Pi�s. 'these ftems are called 'Es�row � " _
<br /> � C . �te�• Lender may,at any tkn� eppect end hotd Fwds in art emnurrt not to exeeed the ma�dmum amourrt a Iender tor e � ` "
<br /> tederattyy retated matt9age(oan maY�equhe tor Borrawer's escrow aeeount under the tederal Real Estate Sattlement Proeedures � `'"�
<br /> er
<br /> Ad at 1874 as em�ded Trom Ume to time.12 US.C.�2601 et seq. ('RE3PA'). untess enother taw tl�at app4es m the F�^ds �
<br /> • sets a lessc�emount IT sa.Lender may.at any Nme. coUect aad hald Funds in an emourtt not tu exceed tRe tesser amourrt. _
<br /> lender may estonate th0 amouM of Funds due on the 6asis of airrenl data end reasaneOle estlmates ot expendrtures aT future � ,_ -_
<br /> .� Escqow ttems or othemise in accordanee wftA appHcable law. < -. �
<br /> The Funds shalf be hetd In a��tnst�uttan whosa deposits are insured 6y a tederal agency.insbumentaLtY.or entity(meh�ding , � __ _
<br /> . � L e rt der. H L e n d e r i s s u c h e n m s 0't u U o n)o r I n a n y Federat tlome Loan Bank Lender shaU apPty the Funds to pay tha Escrow �:: � .
<br /> a
<br /> ' ' Items.Lender may not charge Bortower tor hot�IIng end epF�h11�►9 the Funds.anaually e�ayrin9 the escrow accoun�or ve�d�ing ;�:-�
<br /> • the Esarow ILerns. uniess I.ender pays Barrower iMerest on the Funds and appiicabla taw pertnita Lender to make such a • --
<br /> . . •'',.".,; charya Hawever, lendef maY requine Bonawer to pay a one-time eherge for an (ndependerrt real estate tax repmting servlee
<br /> used by Lender fn connectlon w� U�is toan. unless appticable law provldes atherwise. Untess en a�eemertt ts made or ._- -
<br /> • • ��'<< appticabte taw requires tnterest to be paid Lender shell not be requfred to pay Bocrower eny interest or eamings on the Funds. .µ
<br /> - Boirower end Lender may agree (n m(Ung, however, that interest shaA De patd on the Funds. Lender shaU gNe to Borrower. .:�.�,,,
<br /> ' • without charge,en ennuat accourtlfig at the Funds.showh►g cre�ts end debits to the Funds and the pucpose tor whTch eacfi .; ..•
<br /> � " debft to the Funds was made. The Funds are pledged as addiUonat se�rfty for a0 sums secured by the Securfly Instrumetrt. : ; _
<br /> ' • • If the Ftmds hetd by lender mcceed the amounts permiCed to be held by ayp�cabls law. Lender shaD sccount to'Borrower �` _
<br /> ` •' V for the excess Funds in accordance with tha requiremerrts ot ePPScabte faw.If the amount of ths Funds heid by L�der at arry - --
<br /> � ''�- i..•' , . .. _
<br />'f?_` , time[s not suflident to pay the Esexow Items wAen due. Lender may so notify 8arrawer in'writmg,end, tn such case Bortower •��u. .�,i�
<br /> sha0 pay to Lender the amourrt necessary to make uA the deftdency. Borrower shall make up the deftdency in no more than • �_.��.�
<br /> ,� �;,;:;.v
<br /> . . � •• twetve morrthiy payments.a4 Lender's sote dis�retlon. � • •, �;_�f._��_
<br /> �., „ Upon payme►t in fail of all sums seaued by this Securfty Instrumen� Lender shaA promptty retund to 8orrower any Funds * _ �
<br /> ` hetd by Lender. N.under paragrapb 21. Lende►sha0 acquire or se0 the PropeRy,Lender.prtor to tfie acquisitlon or sale of the _
<br /> ` Property.sha0 appty any Funds hetd by Lender at the U me o 1 acqu is i t ion or s a te a s a c r e d'd a g a i n s t t he sums secured b y this �
<br /> � . gecurdy Instrument
<br /> i � • 8. App111�liOn of Paytnetlts. Untess appQm6te taw provides othervvise. ait payments received by Lender under s .`
<br /> `� � � - pffiagnaphs t and 2 shail be appQed: B►st,to any prepayment charges due under!he Note:secand tn emourrts payabie�ender —_
<br /> -- � pa�agrapp�tti¢d.to(nterest du�touRh,to pdncipal due;artd(ast,to any fate charges due under the Note. �
<br /> 4. Ch�ges; Ltens. Bortower shall pay aU taxes, assessmertts. chai9es. ftnes and Impost�ons etCi6�fa6te W the _
<br /> � � Property wMch may attaln pdorfty over this 3ecurity tnstrument,and(easehold payme�s or ground rents,if any►. Borrower shaD .�r:
<br /> pay these obqgaflans fn the manner provtded tn paragraph 2, or il not paid in that manner. Borrower sha0 pay them on dme P `'_p,�,�--
<br /> - � duecUyr to the person owed payment Borrower sha8 prompUy tumish to Lender all noUces of emourts to be paid 4r.�er thts ':���:�;;��
<br /> ?,,:� .` : ^, paragraph. If Borrower makes these paymer►ts direc8y. Borrower shall pmmptty fumish to Lender recelpts evtdencu�g the .�.,...=--°'
<br /> s �. . • : Pgytnents. ti� .
<br /> . 8orrower shall prompi(y discharge any Qen which has pdortty over this SecurKy Instrument untess Borrower. (a)egrees tn —
<br /> � ' �a . wriUng to the paymerd of the obligaUon secured by the lien in a manner acceptable to Lender, (b)contesta in good tafth the , ;'�--
<br /> Ilen by, or detends against entorcemertt of the ften in, legal proceedings which in the Lender's opinion operate to prevent the ��.;.�'_--
<br />• entorcement o1 the lien: or(a)secures irom the hotdar of the Aen an agreement saUstactory to Lender subordinaUng the Ilen to ,:
<br /> '�.•� � � ,� tt�is Sec�riry tnstrument Ii Lender detertntnes that any part of the Property is subject to a lien whtcb may attaln pdority over this ';'R
<br /> . - � Securiry Instru:nent, lender may gtve Bonower a notice fdentityfig the lien.Borrower sha0 satisfy the Qen or take one or more of __
<br /> � , � the'actlons set tortb above wfthtn 10 days of the giving of notice. ----
<br /> •'� �� 5. H�ard or Psoperty Insurattee.BoROwer shall keep the tmprovements now existing or hereafter erected on the - - _
<br /> �l_ � Prcperiy insure0 against Ioss by fi�e, hazards inGuded wRhln the tertn 'extended �ovetage' and eny other hezards, inctumng ~�, �. .;
<br /> ' - ��� E'aods or ftoomng,for whtah Lender requires fisurance. This insurance shall be m a i r tt a Me d in t h e amau r rt s en d t or the pedods
<br /> �-} • that Lender requlres. The insurance carrler previding the insurance shall be chosen by 9orrower subject to Lenders approval _ _—
<br /> t ; ' . � which shaii not be unreasonably withheld. 8 BoROwer faits to malntain coverage descdbed ebove, Lender may, at Lender's • _
<br /> �•. ' �f optlon,obtain coverage to protect Lenders rt�rs in the P►operty In accorEance wttfi paragraph 7. - . ..=
<br /> ' • M insurance polides and renewals shaB be acceptable to Lender and aha11 include a standard moRgage clsuse. Lender . _
<br /> � shall have the dght to hotd the policles end renewats. li Lender requires.Bortower shz9 promptly give to Lender all receipts of
<br /> �.. .�^ � � pald premfums artd renewaf n�tices. In the event ot loss.Bnrrower shall give prompt n�ace to the U�surance carrier a^.d Lender.
<br /> LenQer may make proof o1 la�s H not made prompity by BS�awer.
<br />,: ` � `, � Unless:ertder end Bortower otherwise egree in writing, insurance proceeds shaU be applied to restoraUon or repair of the . ••
<br /> � • Property d�:-w3ed. H the restaraUon or repair is economically teasible a�1 Lendet's security is not lessened.It the restoration or . ,
<br /> ��!.�� � � • repair is not econamlcaly feasibte or Lender's security woutd be tessened,the insurance proceeds sha(1 be applied W the sums • .
<br /> •� � • secured by this Secudty InsUument. whether or not then due, with eny excess paid to Borrower. If Bortower abandons the . „��. .
<br /> . �� . Propedy, or daes not answer within 90 days e noUce iror.s Lender that the insurence cerder has oftered to setUe a c'slm,then �
<br /> j • LenQer may coilect the Insurance proceeds. Lender may use the praceeds to repair or restore the i�topeRy or to pay sums ,
<br /> " . seeured by this SecuMy instrument,whether or not then due. The 30-day pedad wili begin when the noilce is ghren. : .
<br /> Unless Lender and 8onower otherwtse agree in writing, any appliceUon of proceeds to pdncipal shall not extend or •
<br /> postpone the due date of the monthry Q2yments re(erred to in paragraphs 1 and 2 or change the amount o/the payments. If
<br /> - . • under paragraph 21 the Properly is acquired by Lender. Bortower's dght to any insurance po0cies und proceeds resutUng irom �
<br /> damage to the Property pdor to the acquisftlon shatl psss to Lender to the e�ent of the sums by thia Securityr tnsWment � .
<br /> � . • hnmediatey pdor to the acquisftion. . .
<br /> • . � 6. Occu�ancy, Preservatton, Maintenance and PraiecNon of the Property; Bonower's Loan • '
<br /> �, ' :. A�plteaUon; Lee►se{totds. eortov�er shall occupy, esfabflsh, and �se the Property as 8ortower's pdncipaf resiCence wtthin , ;
<br /> � sixty days after the executlon of this Secudry Instrument and shall contlnue to occupy the Property as Borrower's prirteipal
<br /> • ' residence Tor at least one year after the date ot occupancy. unless Lender othenWse agrees in w�iUng, which consent shafl not .
<br /> � be unreasonably wflhhe�d.or uniess extenuating circumstances exist which are beyond Borrower s conVol. Bortower shall not _ .
<br /> i••J ' • . � desVoy,damage or Impair the PropeRy, allow the Property to detedorate, or commit waste on the Property. Bonower shall be in �
<br /> default if any torfeiture acUon or proceeding, whether cait or criminal, is begun that In Lendei s good tafth�udgmenf coutd result •
<br /> - . in fadeiture of the Property or otherwfse matedally impalr the Uen created by this Security ln.atrument or Lender's security interest. _ .. .
<br /> e,? . . .
<br /> #'.' ' . • , .
<br />- . � .� Ft3t6 LMO 11971 Fagc 2 of 5 �4�y��""`�-�J � ' .
<br /> .. .
<br /> , , ,
<br /> � .. .,
<br /> - _ ..«_. _.. ....._..
<br /> `'__-�':.�-_`�—
<br />--. � ---_- --'--i 91223 {� � .
<br /> � �--t"" . . � r�" � - - -
<br />. .-.�. .� i _.....__..._ ...._... ,_ ..._ -- ^-' . .
<br /> ' ----_ _......... -.--_... . .. . . •�-
<br /> � . • . -. , _ ... ,_ , . . -.._ .. .-. . . .. . ,�....i,.�-�- _�..� - .__...�i .. ,:
<br /> , . t. . '...`..ti".'_^7'�-""sCTr;.. . . �. .'� ;j:. __�.'�Y
<br /> . . . . . . . . . .. .,. . _. . . -- .. .��.. . . � ...... .,... - _' ' . . . . ..... . . .. . . ._,._ _ . . . _.. _ ... s. � - ._, . . �d __
<br />
|