|
, . � ,
<br /> ,t _ , _ ,.,.�.,�.:,.r.y . .. . � ,. ,.�:,-� �...,�'_`�.�-:
<br /> .:. . _._. ......... _ . _ _
<br /> _ ....-_ .._�_ _. �_. ;_..�. __ ..��._
<br /> .,... -
<br /> ° _.__ :� ...._.-..,=,.a:.t.,,lrr:a�Fca3�ai� � rr::t.i�a�--�- ..�....__.
<br />. __�. . ---- �_. . �'+r'•ww!".��L:2:�k�b'���.__ --_—---- -- —.
<br /> ...__.__ ... ____._ .. .
<br /> .__-__.'_ ..._'_'...__ ....... ...__._�'____._. _....—._._...._'. _ . _ _ ._...____._.
<br /> _ .._...
<br /> _. __ . . __ ..
<br /> _ __ ..
<br /> 8- �1294i
<br /> BWrowa'� ��crow aCCOUnt undu th� fidual R�al Est�t�SNtNrtient ProC�dur��Act of 197A u �m�nd�d hom tim� to tfrtN, 12 U.9,C.
<br /> 2601�t sp. ("RESPA"),unl�af�noth�r�w th�t applMif to th� Fund���ta�I���w �mount. If to, L�ndM rn�y, �t any fYr�,oollot�nd
<br /> . hold fund� In en �mounl not lo�xcNd th� Mes�r�mount. L�nd�r rru�y �tlimwu tho�mount ol fundt�du�on th�bata of cumnt d�fa
<br /> ��d rNSOnabM�rilmata�al �xp�ndNures of futun Escrow Ibm�or olhs�wk� in�ccord�nc� wRh�ppNcabN I�w.
<br /> Th• funda eh�ll b� hsld h an inttNutbn whot� Wpo�k� ar� fnsurld by � f�d�ral �p�nCy, fn�irum�nu�lky, or �ntKy (InoludYp
<br /> Lender, N Lender la suCh an fnstkutbn)or In any Fsdwal Hortw l.o�n B�nk, Under ahAN apply th• Funds to piy th� Etcrow INmt. _
<br /> Le�d�r may not cherpe Borrower for holdinp end ■pplyfnQ Iha Funde, ■nnu�lly �n�ly:inp Ih� �6crow �cCOUnI, or wrNyhy th�E�Crow
<br /> Iloms,unless Lender pays Borrower Interest on the Funde�nd rppliC�bl� Yw purmRs Lander lo m�k� euch �charp�. How�v�r,LMId�r
<br /> may royufre Borrowx to pay �ono•llm�chup� for an Incl�pantNnt rwl ssut� tuc nportinp s�rvfCO ut�d by LMd1r h Conn�otbn wkh
<br /> this ban, unleeb appl{cabM law provldxa otherwise. Unkn��n agr�nt h n�ad�or�pplfc�bM kw rnquY�s Int�r��t to b�pald,L.�nd�r �
<br /> sh�ll not bs r�uk�d to p�y BorcowK eny fntKeet or wmhpa on th�Funda, BorrowK end L�nd�r rrMy aprN In wrkinp, howrwr,th�lt
<br /> nt�n�t sh�A b� p�ld on Ihe Fund�. UncNr ah�ll pN� to BorrowK, wMhout ch�rp�, �n annwl accountinp of th� Fundt, �howYp
<br /> cradit� a�d d�bks to th�Fundf and th�purpo��for whbh Nch dabh to th� Fund�wRS rruid�. Th� Funds�r�pl�dp�d �s �ddkbrud
<br /> securky for pll aume sscured by thb Securfcy Instrument.
<br /> If the Funds hald by Lend�r excead the�maunts parrnNtad to bo held by �pplicAba I�w, Undsr shall account to BortowK for th�
<br /> excess Funds In accordance wkh the requkemente of applbebM law. If th� amount of tha Funda held by Lande at any timl Is not
<br /> sufifcfent to pey lhe Escrow Items whan due,Lendor may so no�My Borrower In wrkfnp,and, In auch cesa Hortower ah�N p�y to I.�nder
<br /> the amount nece�sary to make up the deficiency. Borrower shall make up Iha defic(ency in no more thsn tw�No monthy p�yrtwits,�t
<br /> Lendar's sole discretbn.
<br /> Upon payment Yt full of ae sums secured by this SeCUrily In6trument, Lmder shaN prompty refund to BnrcowK�ny Fund�hsld by
<br /> Londer. If, under pprepreph 21,Lender shall acqufre or sell the Prop�rty, Under, prbr to ths�CqulaRbn or�h of th�Proputy, ah�M
<br /> eppy�ny Funds hald by Lender at tha tkns of ecquiskbn or sak�a�credR apUnst ths aums sacursd by tha S�eurRy Inehum�nt.
<br /> 3. Applicetlon of Payments� Unless flpplfcnbb I�w providea oiherwlse, �II peyments rar,�N�d by I.�nder under pupr�phs
<br /> 1 and 2 ahall be �pplied:tirst,lo any prepayment chupes dua under the Note;second, to amounta p�yabw under puapnph 2; thMd
<br /> to inlKest dus;fouAh, to princip�l dus; �nd kat,to�ny N�te ch�rpes due under ths Note.
<br /> 4. ChafpEB; Liena. Borrower shall pay all faxes, assessments, charpes, iines end fmposRbns adrbutWM to tho Propwty
<br /> whbh may ettain prbrity over lhis Security Instrument, �nd {easshokl payments ar pround rentc, M any. Bortow�r �haN pay th�
<br /> obllpetions in the manner provWed h peragraph 2,or M not peid h that menne�,B�rrower shnll pey them on tN'�directy to tFi�psnon
<br /> owed payme�t. Borrower shaU promptly turnish to Lender all notfces af amounts to be peid unCer thfs p�r�yraph. If Borrow�r m�ka
<br /> these payments directly, Bor�ower shall promptly Iurnish to Lender receipts evidenche the payments.
<br />= Borrower shall prompGy discherge any I{en wh�h has prbrity over this Securrty Instrument unless Borrower: (a)aprees b wrRhp to
<br /> the payment of the obligatbn secured by the Iien fn e manner ecceptable to Lender; (b) contests in pood taNh the Ikn by,or d�fenda
<br /> aqahst enlorcernant of the lien in, lepal procaedhfls whfch h the Lender'5 opinion operate to prevent th�sntoresmmt ol th� IMn; or(o)
<br /> secures irom the holder of the Ifa�en �prdement sntlsfactory to Lender subordinatinp the Ilen to thla Sscurky Instrum�nt. I}Und�r
<br /> determines that eny part of the Property fs subJect to a Ifen wh�h mpy �tl�in prbrRy owr thls Sscurity InsWm�nt, Und�r nNy pHY
<br /> Borrowar a notba IdsntNyhp th�Ifen. Borrowx sh�ll satisry ths Ilen or tak�on�or mora of th�actbns a�t fodh�bow wkhin 10 day�
<br /> of the yivhp of notics.
<br /> b. Hezard or Property lnwrence. eorrower ehall keep the impravements now .,cht�nfl or i,.a�n.r �ncad on M�.
<br /> Property tnsurod apatnst bss by fire, haurde hck,ded wkhin the term "extended cov�rap�" and �ny oth�r huardt, hc4dinp fbods or
<br /> Ibodiny, for which Lender requres hsur�nCe. This Gi6unnCa 6hsN be rtuhtalned h th� �mounts and for th�p�rkids th�t I.�nd�r
<br /> requlres. The hsurence carrier providinQ the hsurance shall be chosen by Borrowar subJxct to LentNr'e �pprovd whlCh �h�M not b�
<br /> unrwsonabiy wRhhold. II Borrawer fails to msintsh coverepe dsscribed �bove, Lendsr may, �t L�ndu's optbn, obNh covlrp�to
<br /> probct Lend�r'6 riphta fn Ihe Property in�ccordance wRh parapr�ph 7.
<br /> AN insuranCe poliCies ond ronewtls shall be accept�blu to Lender ind 6ha11 inClude a et�ndard mortpap�ckuN. UnWr ih11 h�v�
<br /> ths rqht to hold the poNCbs Nd ranaw�ls. If Lendsr requFaa,Bortower shaA prompty piw to LsndK aN nc�ipts of p�ld prMnium�
<br /> �nd renewel notfces. �n the evMt of bss, Borcower shell pive prompt nulro to the Insurancs cartbr �nd L1nd1r. UndK rtf�y m�k�
<br /> proof of loss M not made prompty by E3urcowor.
<br /> Unfesa Lender and Borrower otherwise apree In wrRinp,hsunnce proCends ehall be applbd to rottor�tbn or np�fr of th�PropKty
<br /> dameped, H the restoratbn o�repaP la econom�Caly IeaSWb and Lendar's 6ecurlty is not wssenW. If th� nitonUon or np�t Is not
<br /> aconombauy fsesible or Lenders securily wouid be lessened, the insuranca prxeeds shatl ba applled to th� aums a�CUnd by thb
<br /> Security Instrument, whether or not then due, wkh any axcess pald to Dorrower. If Borrower ebendons th� Prop�rty, a dOM not
<br /> enswer within 30 deys e notke from Lender that the insurence c�rcier hos ottered to settb a clakn, then Lendsr rru�y colMct tM
<br /> nsurance proceeds. Lendcsr may use the proceeds to repak or restore the Property or to p8y sums socurad by thfs S�curky
<br /> Ins4rumen6 whether or not then due.The 30-day period will bepin when the notice is �Nen.
<br /> Unless Lender end Borrower olnerwise agree fn writing, any appl�ation of proceeds to principal shall not extend or postpOne the
<br /> due date ot the monthly payments referred to in parepraphs 1 end 2 or ctanqe the amuunt of the payments, II w�der puaprlph 21
<br /> lhe Property Is ecqutred by Lender, Borrowers rfpht to eny insurence policies and proceeds resukinp hom d�rtuy�to th�Prop�ty prbr
<br /> to the acquisRbn shall pass to Lender to the extent ot the sums secured by thls SeCUrity Instrument immedktely prbr to tho
<br /> acquisit'bn.
<br /> 6. Occupancy, Preeervetion, Melntenence end Protection of the Property; 8orrower's Lo�n
<br /> Applicetion; Leeseholda, Bortower shell occupy, esteblish, and use the Property as Borrowers prinClp91 resldance wkhh abdy
<br /> days flfter the executbn ot thls Security Instrument and shall continue to cecupy tho property as BorrowePs princlpAl residenC�}or�t
<br />- least one year aker the date ot occupency, unless Lender otherwlse eyreas In wrilfnfl, whbh c6nsent ahall not ba umnaionobly
<br /> withheld, or unless extenuating clrcumstances exfst wh�h ere beyond Bortower's control. Borrower shell not destroy, da�naps Or knpp4
<br /> Iho Property, ellow t►ie Praperty to deteriorato, or commit waste nn the Property. 8orrower shell be In defauk B eny forkkure �etbn or
<br /> proceodfng, whether cn�il or criminal,Is bepun thet in Londer's good feRh Judgment could resuR h forfekure o}the Property or otharwfs�
<br />= materlally inpak the lien created by this SeCUrity Instrument or LendePs sea:urity Interest. Borrower may cure such a defeuk end
<br /> rninemta. as orovidnd in oaraarooh 18. hv causfna the actlnn or nrncaad{no to be dismissed with a rulin0 thl1, irl Leildb's OoOd hkh
<br /> determinfltion, precludes forfsilure ol the Borrowers fnterest In the Properly or other materlal impekment of ths Ilen crwted by thK
<br /> _ Securdy Instrument or Lnnde:'s security fnterest. Borrower shall also be h defauR M Borrower, durinp the bnn appllCe.tbn process,
<br /> = pave materially lalse or heccureto tnformatlon or statements to Lender (or failed to provlde Lendor wkh a�y r�uterl9l kt}omutbn) h
<br /> � connectlon wRh the loan evldenced by the Note, hcluding, bul not IMRed lo, representetlons ConCf+mfng Bortowers occup�ncy of th�
<br /> Propeny as e prMCgal resldence. il thls Sec;urity Instrument fs on a leasehold, Borrower shell comply wkh ell the provlsbns of the
<br /> lease. H �orrower ocqufres fee Gtte lo the Propnrty, the leasehold end the fee titfe shall not merpe unless lhe Lender eprees to the
<br /> merger in writ�ng.
<br /> Form 9020 Y/YO
<br /> F70TB.lM�(t0/B7) Pag�2 0l 5
<br /> 90T
<br /> '� . . _ _. -- .. ___ _. . .
<br />
|