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<br /> � TOQETHER WITH all the Improvoments now or hereafte� erected on the pmperty, end all easements. eppu►tenences, and � �?
<br /> fixtures now or hereefter a pert o1 the propsrty.NI replecements end nddlUona shnll elso be covered by th13 5ecudty Instrument. ;.,. �
<br /> All of ihe foregoing Is referred to In thls 3ecudty Instrument as tho •Property.'
<br /> .,r. BORROWER COVENANTS thet Borrower Is lawlully selzed of tho ostato hereby convoyod and has the ripht to �rnnt and
<br /> , convny the propeRy ar� that tlie Property Is unencumbered, except for encumbrances ot record. Horrower wairants and wlll �
<br /> `• delend yenerelly the iftle to the Property agalnst ell clalms and demantle, subJect to any oncumbrances o1 record.
<br /> THIS SECURITY INSTRUMENT combineo unHarm covenants for natlonel use end non•unllorm covenants with Iimltod '
<br /> varlatlone by Jurlsdictlon to canstltute a unifarm securily Instrumont cover�np real proporty. •
<br /> � UNIFORM COVENANTS. Borrower and Lender covenent and egree as follows: (� ,.
<br /> 1. Payment of Princlpal and Interest; Prepayment pnd Lat� Charges, Borrower shall promptly pay when y
<br /> ' � due the principal o}end interest on tiie debt evidenced by ihe Nolo and any propayment and late ch¢rges duo under the Note `
<br /> ' � 2. Funds for T�x�s �nd Insu�aneo. SubJect to eppilcetble law or to a wriuen waiver by Lender,Borrower shall pay �` �
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<br /> ��� to Lender on the day monthy �eymente are due under the Noto, untll the Note Is pald in lull, a sum ('Funds") lor (a) yearly
<br /> j taxes and assessments which mAy ettaln pdorlty over thls 3eourlty Instrument as a Ilon on the Propetty; (b) yearly lessehold r� �'+;_°:
<br /> ....►�►`'�"' � paymente or ground ronts on the Property, fl any; (c) yeady hazard or propeRy Insurence premlums; (d) yeady tlood insurence Q �'�..`"=
<br /> ��+��-^�-""'�''� premlums, If any; (e)yearly mortgage Insurence premluma, i}any; and (�any sums peyable by Borrower lo Lender In eccordunce � ��-_
<br /> t• with the provlslons ol paragreph 8, In Ileu of the peyment of mortgage Insurenco premlums. These Items are ca8ed 'Escrow �,_r,.,-�
<br /> Items.' Londer may, at any time, collect and hold Funds In en emount not to exceed the maxlmum amount e lender for e� _ _
<br /> . federally related morcgage Ioen may requlre for BorrowQr's escrow account under the federel Real Estete Settlement Procedures =__
<br /> Act of 1874 aR smended from tlme to tlme, 12 U.S.G.�2801 et seq. ('HESPA'), unleas enother law that applle� to the Funds =
<br /> sets a Iesser amount. If so, Lender may, at eny tlme, collect and hold Funds In en amowit not to exceed the lesser emount. _--
<br /> Lender may estimate the amount o1 Funds due on the basls of cunent data and reasonable estimates of expenditures of tuture _-
<br /> Escrow Items or otherwise In eccordance with epplicable law. _
<br /> • The Funds shau be held In an Institution whose deposits are Insured by a federal agency, Instrumental(ty,or entity(Including —
<br /> Lender, If Lender Is such an Institution) or In any Federal 11ome Loan Bank. Lender shall epply the Funds to pey lhe Escrow _
<br /> � Items. Lender may not charge Borrower tor holding and a�pying the funds, annually nnalyzing the escrow account, or veritying �
<br /> '�• the Escrow Itema, unless Lender pays Borrower Interest on the Funda and appllcable law permlis Lender to make such e
<br /> �� cherge. However, Lender may require Borrower to pay a one-time charge tor an Indopendent real estate tex reporting servlce �
<br /> used by Lender fn connectlon with this loan, unlesr, eppllcable law provldes othenvise. Unless an agreement Is mado or —__
<br /> � applicable law requlros Interest to be pald, Lender shall not be requlred to pay Bonower any Interest or eamings on ihe Funds. —_
<br /> Burtower and Lenda mey agree in wdting, however, that intereat shall be pald on the Funds. Lender shall give to BoROwer,
<br /> � without charge, an ennual accounting of the Funds, showing credits and debits to the Funds and the purpose for whlch each ____
<br /> •+� debit to the Funds was made. The Funds are pledged es additional securiry for ell sums secured by the Security Instrument.
<br /> If the Funds held by Lender exceed the amounts pertnilted to be held by applicable law, Lender shall account to Borrower
<br /> � for the excess Fundo In accordance with tho requlrements o(appllct�ble law. Ii the amount ot the Funds held by Lender at any
<br /> tlme Is not suHiclent to pay the Escrow Items when due, Lender may so notfly Borrower in writing, and, in such case Bortower
<br /> t shell pay to Lender the amount necessary to make up the deflclency. Borrower shall make up the deficlency In no more than
<br /> ' tweive monthly payments,ut Lender's sole discretlon.
<br /> _� Upon payment In full of ell sums aecured by this Security Instrument, Lender shell promptly refund to Borrower any Funds
<br /> � held by Lender. I},under paragreph 21. Lender sheli ecqulre or Eeil the Property, Lender, pnor to tha acquisition or saie oi iha
<br /> �', Property, shall apply any Funds held by Lender at the time oi acqulsitlnn or sale ns a credit agalnst the sums secured by thla
<br /> Security Instrument.
<br /> 3. Application of Payments. Unlese epplicable law provides othe�wlse, all payments received by Lender under
<br /> �• peragraphs 1 and 2 shell be epplied: tirst, to any prepayment charges due under the Note; second, to amounts payeble under
<br /> � paragraph 2;thlyd,to Interest due;fourth,to principel due; and last, to any Iate cherges due under the Note.
<br />_ 4. Cher�68; L1911S. Borrower shall pay all taxes, assessments, charges, fines and Imposltlons sttributable to the
<br /> Property which may attaln priotity over thls Security Instrument, and leasehold payments or ground rents, (f eny. Bortower ahail
<br /> � pay these obligatlona In the manner provided In paragreph 2, or If not pald In that manner. Borrower shail pay them on tlme
<br /> directiy to the person owed payment. Bonower shall promptly fumish to Lender all notices of emounts to be peid under this
<br /> ' s paragraph. If Borrower mekes these payments dlroctly, Borrower shnll promptly fumish ta Lender recelpts e�ridencing the
<br /> payments.
<br /> Borrower shall promptly discherge any Ilen whlch has prioriry over thls Securlty Instrument unless Borrower: (a)agrees In
<br />' writing to the peyment of tho obllgation secured by the Ilen In a manner acceptable to Lender; (b) contesis in good taith the
<br /> � ilen by, or defends egalnst enforcement of the Ifen In, legal proceedings whlch In the Lender's opinlon operate to prevent the
<br /> enforcement of the Ilen; or (c) secures from the holder of the Ilen an egreement satisfaatory to Lender subordineting the Ilen to
<br /> thls Security Instrument.If Lender determines that any part of the Property Is subJect to a Ilen whlch may adaln ptlority over this
<br /> Security Instrument,Lender may glve Borrower a notice Identltying the Ilen. Bortower shall setisly the Ilen or take one or more of
<br /> ' �� the actlons set forth abovo withln 10 days of the gfving of notice.
<br /> 5. Hazard or Property InRUrance. Borrower shall keep the Improvements now existing or hereafter erecled on the
<br /> Proporty Insured against loss by fire, hezerds Included within the term "extended coverage" end any other hezards, Including
<br /> fioods or flooding,for whlch lender requlres Insurence. Thls Insurance shall be malntalned In the amounts and tor the pedods -
<br /> that Lender requlros. The Insurence carrler providing the Insurance shall be chosen by Borrower sub�ect to Lender's approval
<br /> = � whlch shall not be unreasonably withheid. H Borrower lalls to malntaln coverege desctlbcsd ebove, Lender mey, at Lender's _
<br /> optlon, obteln coverage to protect Lender's righte In the Property in accordance wlth paragreph 7.
<br /> AII insuranco policles and renewais shell be accaptable to Lender and shall Indude a standerd mortgage dause. Lender ��''—
<br /> .' shall have the dght to hold the pollcles and renewals. II Lender requlros, Borrower shall promptly give to Lender all recelpte of
<br /> � pald premlums and renewal notices. In the event of loss, Borrower shall give prompt notico to the Insurance car�er and Lender.
<br /> i Lender may make prooi of loss If not mado promptly by F3ortower.
<br /> Unless Lender nnd Borrower othenviso agree In wrlting, Insurnnce proceeda shall be epplled to restoration or repalr o1 the _
<br /> Property damaged,if the restoretlon or repair Is economically feasible and Lendor's security Is not lossened.If the restoretlon or
<br /> repalr Is not economlcally feasible or Lender's security would be lessened, the Insurence proceeds shell be epplled to the sums _
<br /> 3ecured by thls Securl!y Instrument, whether or not then duo, with any axcess pald to Borrower. If Borrower abandons the
<br /> Property, or does not answer within 30 duys a notice(rom Lender that tho Insuranco cartler has oNered to settle a claim,then
<br /> Lender may collect the Insurance proceeds. Lender may use the proceeds to repelr qr restore the Property or to pay sums
<br /> secured by thls Security Instrument, whether or not then due. The 30•day period wlll begfn when the notic?is gHen.
<br /> , UflICSS LCtldCr flnd Bo�mwr� nthrrwi.r aqr�n in ,,,,�a��,�a .�„y :,�ru�:����,�, nl p�ocord+; Iu pnnrip:q :hnll nn� nxtrnd nr �
<br /> posipone tho due date ot tho monthly payments referred to In pnregrnphs 1 and 2 or chenge tho amaunt of ihe payments. If
<br /> under perugraph 21 the Property is ecquired by Lender, Borrower's right to any Insurence policles end proceeds resulting (rom
<br /> damago to thc Property prior to the acquisition shail pass to Lender to the extent oi ihe sums by this Security Instrument
<br /> _ Immedlately prior ta tha acquisltlon.
<br /> 6. Occupancy, Praservation, Maintenance and Protection of the Property; Borrower's Loan
<br /> Applicatlon; Lea�saholds. Borrower shall occupy, establlsh, and use the Property as Borrower's princlpal resldence within
<br /> sixty days after the execution ot thls Security Instrument and shall continue to occupy the Property es Borrowers principal
<br /> rosidence (or at least one year aiter the date of occupancy, unless Lender otherwise egrees In writing, which consent shall not
<br /> be unreASOnably wilhheld, or unless extenuating circumstances exist whfch are beyond Borrower's control F3orrower shall not
<br /> desiroy, damage or impafr the Property, allow ihe Property lo deteriorale, or commit waste on the Property.8orrower shall be in
<br /> default if any forleiture actlon or proceeding, whether civil or eriminnl, is begun lhat In Lender', good (nith�udgment could result
<br /> in toriefture ot the Property or otherwise muteriully Impair the lien creuted by this Secunty Instrument or Lender's securiry interest.
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