|
� �
<br /> llNI�URM CiIYFNANT9 Borrower�nd L,ender covenAnt and agrce as folic►ws: vO�����s��
<br /> l. Pay�t at Prt�ti�al�i l�tt�t;PtsMyme�!�Late Cl�arees. Horrawc�shall pramptly pAy when due
<br /> the prineipe!of�nd interat on the debt cvidexiced by the Note�nd a+ny prep�yment und late chargec due under�he Note.
<br /> �. F�wih farTatea a/I��ee. Sub}e�cE to�pplicabte I�w ot to v writlen wmiver 6y Lendcr,Harrowc�shail pa�
<br /> !a Les:�f cm the dey tnonthly�wymteto�t�due untler tl�e NMt, ��nli!th=Nott is paid in!u!!,a susrs("Fur,:l:";:quvt ta
<br /> i r one-twell►h aP: (a) yearly t��as �nd assessments which msy Rtta�in priority over this Security Inst�umenl; (b)yearly
<br /> 1 la�elwld pj►ymcnts or graund rrnts un Ihe Praperty. if ai�y; (c) yearly haiard insannce premiums; and (d)yearly
<br /> mart�ate insunnce prcmi�ms. if�ny.Thae isems are caliod"esr�ow items."Le�de�may estimste thc Funds due on thc
<br /> basis ol'currcnt�ta�nd�eawnable atimala oPfutu►e esc�ow items.
<br /> The Funds al�1!be hek!it��n institulion 1he depasiis o�accaunts af which are in�ured or guarnnteed by a federal ar
<br /> uate Kency(includine t.tnder iP Ltnder is such an inxtitutian). l.ender sh�tl ap�►ly Ihe Fund�ta pay the escr�w iams.
<br /> L,et�da reay not clesr6e for hoMlnR a!id ap�lyins the Funds,�n�lxzina the account or verifyin�the esc�ow items,uoless
<br /> I.e�der p�ys 8ortowe�intetat on the Fund3�nd�ppticxbk law permits Lende� ta make such a charge Borrawer and
<br /> Lender m�y ayrra in writin�that interat ah�ll be p�id on Ihe�Funds. Unless an aareemtot ia made ar Applicabte law
<br /> requires intrresl to be pald.Lender shall not be required to pay Borroxer any interest or airni�gs an tha Fun�is.Lender
<br /> •b�l{Rive to 8orro�ret,without chtrat�an annual sccountin6 a�the Funds showins crcdits�nd debits to the Funds�►nd the
<br /> pNrpo�e far�+hich eaeh debit to the F�unds wu mada The fiunds�re pkdsed as dditionsl security far the sums securcd by
<br /> tl�a Secu�ity lnsirument.
<br /> fl'the amount d'the Funds t�dd by LetKler,toaether with the future monthly payments of Funds psyabte prior to
<br /> tl�e due data of the acrow item�,shalt eaoad 1l�e amount required to pay the escrow items when due,the excess shall he.
<br /> at BorroMer's option,either promptly rcpvid to Bocrowet or credited to Borcawer on mon�hly psyments of Funds.i6 Qi�
<br /> smuunt af'the Funds held by l.ender is not su�icient to pay the escrow items when dne,Bc�rrower shall pay to Leader s�y
<br /> amount necessary to make up the deflciency l�oee or more paymeots as required by Lender. .
<br /> Upoo payment in full of all sums securcd by this Security Instrument,Lender ihsll promp�ly rofund ta 8orrewer
<br /> any Funds held by Lender. If uader paraa�ph 19 the Property is cold o�acquired by Lender.L.ender shall apply.ecr 1�it�e�
<br /> than immediately priov ta the sale af the Propeny or its�cquisition by I.ender.any Funds hsld by Lender at�he i1�rr�vP
<br /> . appldcatiun as s credit a6sinsl the sums secured by this Security Instrument.
<br /> 3. A�Ua�tio�ot Psy�b. Unla�applicable Isw provides atherw-ise, all paymen�s receive�d b�• 4ender under ,
<br /> pataanphs 1 and 2 shsp be applied:flrst.to late chargcs due unde�the Nate;ce�:ond,ta prepaymenl charges duc under the ,
<br /> Notr.third�to amaunts psyable uuder para�trsph 2;fourth,ta intersst due;and lagt.to principal due. � . �
<br /> 4. Cl�ar�e�Lkes. Borrower shail pay a0 taxes.acsessmenta,charges,finec and impositions at��ibulable t���he
<br /> Properry whicb msy R1taiR priority a��er this Security Ins�rument, and leaschald paymenlc or ground rents,if any.
<br /> Barrower shall psy these obligs�tians in the manncr�+�vided in paragraph 2,or i�not�+aid in tha� manner.Bar�oMCr shall
<br /> pay them an time directly to the perscm owed payment. Borrowcr shall pramplty furnish to Lendcr all notices of amE?unts •
<br /> to be paid under this paragraph. If Bonawer makea thest paymeMs dircctly. Harrawer shall promptly furnish t�Lender .
<br /> receipta evidencing the payments. ; � `��
<br /> Borrower shall promp�ly discharge any lien which ha�prinrity over thic Security l�s�rument unle�.c&�r�a�wer:(a) �
<br /> sa�ees i�writing to the psymrnt aithe abligation secured by the lien in a man�er acceptable to I.ender;lb)con�ests in gcx�d S` ��
<br /> Paith the lien bY.or defends aR�inst enforcemtnt af ehe lier in,IeRal pttxccdittR�wh'ich i�thc Lendet'c nninion upera�e u� --
<br /> provent�Me rnforcemen�of the li�n or farfei�urc of any part of the P�aperty;i�r(c)cecures from the hnlder of 1he lien an �T
<br /> aareement satisf�ctary to Lender subordinating�he lien ta this Securi�y Instrument. If'Lender determinec thal any par�of �
<br /> _ - .�._n _ - •si:....i i:,:�SC:«�it!i.^.5.:"�l:Sin "it^.:=:" :t�t:lh��Cw��i3�v Iric�rLm�l�I, 1 rn�f�r mav vi�r I3ittrnwcr a -
<br /> nolice denYfyina the(ien. 8orrower shalf satisfy�he lien or take one or mo�e of'the actiam set for�h atxwe wi�hin 10 days •-
<br /> of the giving of notice. ►.`
<br /> S. Huard Insrnnce. Hormwer�hall keep the improvemeatc naw existinF on c�rcaper erccted on�hc Pmpcny '•
<br /> � insured aaaie�sD loss by fire.huards included wilhin the Itrm"eatended coveragr"aud any o�l�e�hataNs fi�r w•hich Lender '3
<br /> ' �equirec insarance. This insurance s1ea11 be maintained in thc amaunls and fnr the peri�d� tha� l.cnder reyuircc. The
<br /> � iasuranee carrier providin�.the insurance shrll be chcrsen by Bbnower subject to Lender c approval which shall not bc
<br /> " �tereasonabiy withhtld.
<br /> All insutance policies and renewsls shall be acceptable to Lender an�shall include a slandard mortgage clause.
<br /> Lender shill have the right to hold thc policies and renewals. If I,cnder requires, fiorruv►er sha11 nrompUy grvc ia Lender
<br /> alt receipts af paid premiams and renewaf noticee. In the event of Icxt.Bnrrower�hall give pmmpt nutice�n the insurance
<br /> earrier a�d Lender.Lendet m�y m�ke ptcwf of Ic�ss if not made promptly by&�rr�w�er.
<br /> Unless I.cnder and Borrower atherwise agree�n writing,in�urance prorecds shall t+e applied ta rettoration ot rep:.ir ,•,� .
<br /> of the Praperty damagai.ef the ratoration or rtpair is economically feasible and l.ender's secunty ic nnt lessened. If Ihr �
<br /> restaration or repair is nut economically feasible or Lender's�urity would t+e lecsened,the inwranre prcx:ceds shal)be
<br /> applied to the sums cecured by this Stcurity lnstrument,whether or nat then due,with any earess paid to HorroNer. If
<br /> Borrower abandnns the Prnperty,ot doec not ansKer within 30 day�a natice from Lender�hat the incurance carrier has
<br /> • c�}I'ered to settle a claim.then Lcader may eolltet th:incuranee prc�ceeds. l.endrt may u�t the pre�ceedc to rcpair�r restore
<br /> the 1'roperly ur ta pay sums secured by Ihis Sccusita�Inctrumenl, wl�c�her ur iio� then due.'1 hc �Q-ci�y �xruxf wdl M:gin
<br /> when Ihe n�tice is given.
<br /> . Unless Lender and Horc�wci��tPrfrwise agree in wrn�ri�r xny applieaUnn uf pr�xe�d.E ra pr�ncipal.hall nat ec�cc�d i►r
<br /> . ��oat�x�ne�he due date nf thc nti�nlhly raymtntc relerred t�ia�aau�rraph� t and 2 or chan�e thc amous�t t�f shc p:,y merat� 1 f
<br /> , under paragraph 19 the PCOperty is acquired by l,ender, Borrowcr's right �o any in�urance�I�c�ec aacE p�'oceed�re�uhi��g
<br /> ftom damage ta�he Prop�y priot to the acquiait�on shall pass to Lender to the extent ot Ihe�ums tiecarad hy th��Secunty
<br /> � ttsstrumtnt immediately prior to the acg�icition.
<br /> 6. 1'�eser�atioa a�d M�tateaaace ot i'�open�:Y.asehotds. Borrow�er sh•rff nc�t dectroy,damage�r.ubctant�aify
<br /> change the Pro{+erty. allow Ihe Pmpeny to deteri�zrate or comm�t waste IP Ih�s Srcunty In��romcnt i��m a lea��imld.
<br /> 8orrow•er shal)comply with the provision�oT1hc least,and if Hnrrc�wer acyu�res fee title lo thr F'rnperty,the leacehald and
<br /> fee titlt shall not mcrge unlec.�Lender agtees�o the nterger m writing.
<br /> 7. E'rotection of LenAer'� Riqht� in the 1'roperty: �tortR�Re Insur�nce. If Norr�►wrr fa�l� �� perPc�rm ihe ; - �
<br />: covenants and agreements contain=d in Ihis Securu� In�trument,nr therc i�a 1ega1 pr�weeJing tha�ma���grofiranil}aftrct
<br /> Lxnder's right�in �he Prnperty {�ueh as a proceecl�nR �n hankruptcy.�+tobate. f�r candemn:��i�n nr �n enfvr:e law���r
<br /> regulatinns),then Lender may do and pay for whatever is necessary �o prnzect the�alue��f the I'ropen�and Lender'a r�ght;
<br /> in the Pro�erty. Lender'c acti�nc may include paying any sums ceeured by a loen w�h�rh hac pnori�� o�tr Ih�c Secunty
<br /> Inslrumenl,appeanng m court,paying reasonable attorney�s'fees and entermg on the!'mE+erty to makc repair� AllhuuRh
<br /> l.ender may take acnon under thic paragraph 7,Lender dex�s no�hatie to do so �
<br /> L Any amoums d�cbursetl by Ltnder under this paragraph 7 shall beconse addm��nai dcht i+!-Borr��wer�c�urcd by thiti
<br /> Secunty lnstrument Unletti fi�rrow•er und L.ender Agtec to��ther terms of'�+a�ment,the�e am�+unt�.hall bcar interec�tu�r»
<br /> �he datr of d�sburtiement :+1 Iht Note rate and shall be payahlc, w�lh �nlerest, upon n��t�cc fr�m Lendcr ta Hc�rrc�wer !�
<br /> requssting paymen: �
<br /> cD
<br /> �d
<br /> �
<br /> �
<br /> --
<br /> ---
<br /> .._-- '- L t��._ .
<br /> - _.... --�---�•>�r.��-�-r.�r_ __. ...�. -::.-. - - _ __ __ �.--,.T,_.,. .-�,_�„ . .. .. . ._ ._...
<br /> �m�+Re�.p�,�pll�,�Tsre�. . � . ,_. � ..,..:._ . _ --
<br /> . t�rd'��ur¢.,' ' � -t_,'��R�, r � ��v-:ruwar`�}T.�.� _ —' --_
<br /> . . .
<br /> . " '— _'. . ..-- ._ . . . _ ._ _. ... ' _ "_ _ ' ' _ _ '_ _ _' �'+
<br /> .. .
<br /> i.-
<br /> '_ .. -�-:_ ._..._ . _.- .... ... . —. '.:.. �.: —.�.. ,�:. � —.. ... . ... - _ '' ' —' " - --
<br /> . �� � . . . .. • I ,. . "'�. _�i.n' —._ "_ ��"_ . '.r..-., .-E_ � �... (. _
<br />
|