|
' . . f . . � ' . . . . .. . ' � , ' �
<br /> `• C c, . � a ` �
<br /> . < � ' ' ' . . . �
<br /> �
<br /> . , r . � . � ' . � � �
<br /> , v im ' _—_ '. . ... . ' . C' . _
<br /> . _ _. _- _.._�..____ �.�. ' L...__—�r-c-'-� .�--�-..—____.. . � _— _ -' . __ _ _ __
<br /> . ��.�..����_.`. . . —T—�-- ,,-- , ..-- . . . � i .. ." _ . ` _.�_�. � _' '—_ ' (_.'
<br /> . . . . � � . . . . .
<br /> � � . � ` � ` ,� � .� 1�343g . . , . ��`
<br /> Ut31FO1tM COVENAIwi'�. Bos[Q�rer a�d Lender cavenani and agre�as folloas: ���� . � • � •
<br /> ,� . . , � i. P�ytat of Priactpal atsi bt�ra�Pcepy�eeat and I.tte Chuges. Barrower�halt`"�mptly pay whsn due •
<br /> • . tt�e priacip�i of and interrst on Ehedebt evidenced by the Note and any pr+egaymrnt and late charges due under the NotG - .
<br /> , � 2. Fwds for Tu�es aAd Issyranca 5ubject to apglicable law or tu a written.waiver by Lender,Bonawes shall pay . ' .
<br /> , .to I:ender on the day monthly payments�rr due under the Nete,until the rlQte is paid'ue�'ull,a sum(••Funds")equal tq '
<br /> � a�at+vdit�of(a�.yruly'ta�c�s arai asstssmtnts whish may attain priocity_aver this Seruritg Iastrumrnt; (h? Y�Y �
<br /> � kuehold p�ymmts ot ground,rents on�the�Pmperty, if�az:y; (c) yeariy ha�asd insurance premeums; and(d) yearty _.
<br /> , mataa�e insurAnce praniums,if au�y.These items are called•'eserow items."Lender may estimate the�unds due on the . � .
<br /> bu+s ot eurrent data and reis�anabk esrimates af fiit�eesc�aw items. ' � '
<br /> • , The F�sI�aI16�hetd in an instirution the deposits or accounts of which are Insured or guaranteed by a faberat or , ��
<br /> . ' � . � statt sgency(`tnclading IAttderaf Le'nder is such an institution).I.ender sbalt apply the�unds to p�y the acrow iteais. .
<br /> . . I:ender ntsy not chuge�'ot ftoldi»g and applying the Funds,analyzing the account ar verifying thc escrow items,anl�ss , �
<br /> , � Leada pays Bormwtr interest on the Funds and applicable law permits Lender to make such a chargt. Borrower and' � ': _
<br /> � Lrnder may agtce in writing that interest sha116e paid on jhe Funds. Uritas an agteemrnt is made ar applicable taw . .
<br /> �� ;s � , rcquir�.s interest to be paid,Lcrcder shall not be required to�ay Bortower any interest or earnings on the Funds.Lender '
<br /> ; sltall give to Borrower,anthaut charge,an annual accounting of the Fuads showing credits and debiu to th�Funds and the .
<br /> f � purpose for whicb qch debit to the Funds was made.The Funds aze ptedged as additional security for the sums secured by
<br /> . � Ebis Sxurity Instrumeat. � . � � � .
<br /> . ;' If the amount of the Funds held by Lender,togeihcr with tite futi�re monthly payments of Fnnds payable priar to �
<br /> ; � the dde dxtcs,of the escrnw items,sha11 eaceed the amount required to pay t�ie escrow items when due,tlse exeess shall be, '
<br /> � �� at Borrowu's aption,ather promptiy repaid to Barrower or credited to Borrawes on monthty payments of Funds:If the . �
<br /> � � amoant of th�ffu�s held by Lender is isot sufficient to pay the escrow items when dne.Bortower shall pay to Lender anq �
<br /> ` amouat necessaty ie taaice up the deficiency in one or more paycnents as required by Lercder. � �
<br /> Upon payment in�uq of all sums secured by this Security Instrument,Leader sh�ll pramptty refund to Borrower
<br /> ,j � any Fnnds heid bp Leade�:If imder paragraph 19 t�,�Praperry is sotd or acquired b�Lender,Lender sha11 appiy,no tater � � .
<br /> , , than immodiatety prior to�the sale of�t}►e Propert�i�a its acquisition,by L,ender,any Funds held by L�nder at the time of ' ,
<br /> , . ; application as a credit agafnst the sums secured by t�:s Security Instrument. . � •
<br /> , � , 3. A�pplicatton of Psyments. IJnless applicable law p*ovides otherwise.all payments received by L,ec�der under
<br /> pa�agraphs 1 and 2 shaU be applied:first,to tate.charges due under the Note;second�o prepayment cha�'ges due under the : .
<br /> E Note;third,to amounts payable under paragraph 2;�ourth,to in2erest du�a�last,to principal due. , � �
<br /> , � 4. Clarges;Lieas. Borrower shall pay all taxes,assessments,c�=.*��s,fines and impositions attributable to the
<br /> ! , Pc�erty wtuch may attain priority.over this Security Instrument, and ieasehold paymerits or ground rents, if any. -
<br /> Hohrower sE�a��pay these obligations esr the manner provided i��sagraph 2,or if nat pa�:;in that manner,Borrower shali �
<br /> . �y tltersa.e��..�e directty to the persa�owed payment.Borro���r shali prompdy Fumiss to Lender al!rtotices af amounts ; . �� =�-
<br /> ; 4�6z paid u.�i�er this paragaph.If Bonower makes these payments directiy,BorrawershaU promg*1�furnish to i.ender �
<br /> rtceipss evidencing the payments. . ;
<br /> Borruwer shall promptty discharge any lien whicb has priority over this Security Instrument:.�ziess Borrawer:(a) � 1. "
<br /> �agrces in wc�tsng to the payment of'the obligation secured by th�dien in a manner acceptable to Lender;(b)contes�in good ; � �'-
<br /> = faith the lie�t��,or defends agdinst enforcement of the Hen en,legal proce�edings which in the lxnder's opinion c�rate to -
<br /> ; prtvent tbe enforcement of the tien or forfeiture of any part of ihe Property;c,r(c)secures f'ram the holder of the lien an
<br /> � agrament satisfactory to Ixnder subordinating the tien tp this Security Instrumtnt.If Lender determines that any part of '
<br /> . the PropeRy is subject ta a Jien which may attain priority over this Security Instrument. Lender may�give Eorrower a � �'
<br /> � � notice identify-ing the iien.Borrawer s..�,all satisfy the lien or tzBcc:one or more of the actions set forth above within 10 days `
<br /> af the giving af notice. •#�.
<br /> S. Haz�rd InsurAnce. Borrower shall keep the improvements now eaisting or hereafter erected on the Propeny �
<br /> ' insured againsi toss by fire,hazarrl.s included within t°�e term"eatended caverage"and any other hazards f�r which Lender
<br /> � requires insn*ance. This insurante shall i�e maintained in the amounes�rrd far the peri�ds that Lender requires. The
<br /> � insurance rara'ier praviding the insurance shall be chosen b} �;*rou�er subject to I,ender's approval wtiich shall not be
<br />. � . unrtasona�Sy withheld. � .
<br /> All insurance policies and renewals shall be acceptable to Lender and shall include a standard martga�e clause. ��
<br /> � Lender shal)have the right to hold the policies and renewals.If Lender re.�nires,Borrawer shall pramptly give to Lendet .
<br /> � ! all actipts of paid premium�and cenewal notices.ln the event of loss,tiorrower shall give prompt notice ta the insurance ;:��
<br /> ' carrier and L�nder.Lender may make proof of loss if not made promptly by 13orrower. ,�;# .
<br /> ' Unless Lertder and Aorrower otherwise agree in writing.insurance praceeds shal)be applied to restoration or repair
<br /> . of the Property damaged,iP the restoration or repair is econamically feasible and Lender's security is not lcssencd. If thc
<br /> ; , restoration or repair is not economically feasible ar LeRder's securlty would be lessened,the it�surance proceeds shall be
<br /> . appliect to the sums secured by this Security lnstrument,whether or nos�lscn Jue,with any excess puid to Borrowcr. ]f � ' -
<br /> � � ' Borrower abandons the Property,or dces n�t answer within 3U days a notice kom Lender that the insurance carrier has� --� � --�� --�� � �
<br /> otfered ta�a�e a claim,then Lender may c�ltect the insurance proceeds. l,ender may use the proceeds to repai�oa restore
<br /> � the Property�r to pay sums secured by this Sccurity lnstrumcnt,whether or not then duc.7'he�D-day peri�d will begin
<br /> when the naiice is given. � �
<br /> Unless Lendec and Borrower otherwise agree in y.r�ting.any sspplication of proceeds to principal shall�tot extend c�r
<br /> • postpone the�3ue date of the monthEy paymems referred to irr�aragraphs 1 and 2 or chan�e the nmount nf the payments.lf
<br /> � under para�aph 19 thc Property is acquired by Lendei,Borrc���er's right to any insuranre policles and praceeds resulting
<br /> . • from damage�to the Properry prior to thr acqnisitian shatl pass to Lender to the extent of the sums serured by this 5ecurity
<br /> �czsttument immediately prior b the acquisition. .
<br /> • 6. Preservption and MaintenAnce ot Property;Leaseholds. H�srower tihall nat destr�iy,damage�r tiubstantial{y
<br /> change the Property.allaw the Praperty ta detetiorpte or cc�mmit �vaste. If this 5ecurity Instrumcnt is�►n � Irasehold,
<br /> BorrowershaU camply with tiie provisions c�f tNe•lease,and if$orto�uer acquires fee title to the Prc�perty,the IeaSehold anst ' --
<br /> ' ' fee title shall qot merge unless i.ender agrees t�i the merger in writing. �
<br /> . . ..7. �MtCf��Qi� 0� IRt�L�BF�B RIgLl�3 �1l.�!£ PS4FP.£tY; M�ri��e Ins�snce. �f I�orrc�c�res t'a'st� t� perfc+rm ehe t .
<br /> covenantsaatd agreements contained in this Security lnstrument.or there is a legal pr��ceeding that may significantly affect
<br /> Lender's rights in the Propert�(such as a proceeding in ba.nkruptcy, pro(sate, for condemnatirn� �,r tn enforcr laws��r � .
<br /> • : regulations),then Lender may do and pay for whatever is necessary ta protect the value of the 1'r�perty and Lendrr's right�
<br /> . in the Property. Lender's uctions may incl.uc�e paying any sums secured by a lien which has priority over this 5ecurity ' �
<br /> Instrument,appeasing in court,paying reasonable attcrrneys'Fca.��ttd entrring ott tite,Prc�perty t�x make re�r�sirs:A{chcru�tr- - -
<br /> � Lendcr may take acticm uttder this p�ragraph 7,Lender daes not hace to do sn. � �
<br /> ' Any amounts disbursed by I.ender undpt this patag�aph 7 shal)beramc udditicmal debt af Horrnwer secured by this �
<br /> : Security Instrument.Unless 8orrnwer and Lender asree tc�olher termc e?i�ayn�ent.these�c���tu�ils shal!t�esr�ntere!:t Gom �
<br /> the date df disbvrsement at the Note rate anel sh:�il be q�yable. with.intcte��. upon ni�Jicc frcm� i.ei►der to Hnrr�wer
<br /> requesting paymea�t. , ' �;�
<br />" �ro•
<br /> , �
<br /> . . .,.-�-c. . — — .� r a f. .�Y-.. ...a -`•....S?1RSr�- «M..n...�w..���H��-Y. �^�`..rti'^St�.��^�?�.^'!".w""�I.�w-r'Mw^'r'�-- ,� _
<br /> . �� .. „ ... .� . � . . . ..t.....� _ ��11 �t� .. ..... .. 4 . . - • , . . ' ' ' . ' " • . '
<br /> �. � .� . :
<br /> .
<br /> �'. y .. .,. �.
<br /> � .. . ._. .•. . ' .� . � 1 � . . JH � .1
<br /> . _ __I_' _._ -- . .-__ �-(I� ...' .. •' _ _• _ _ _ . _. . _ . — _ _— -- ..— _
<br /> . .�- -_ .. _ _ .'__. .._ _` --I��..
<br /> .a c � y
<br /> . . .- � . , . .. ,.{i.�. .. � . . _ s� — - ,,.. _ . r_ .. . . ,.F , �. . .. . . ._.
<br />
|