|
�
<br /> �
<br /> x
<br /> �
<br /> a
<br /> �
<br /> q . �
<br /> g ��Q8a� �V � ° � �
<br /> . 9- ,_ �
<br /> Le�dsr may. at any tima, ca0ect and hold e,mounts tw Eaxow ftems in are aggre�te amount not to exCeed the m8�drrxim
<br /> amount tt.at may be require� for Borrowe�s escrow axam! iusder U�e Ree1 Estafe Sett�t Prxedures Act of 147a, 12 JS.C.
<br /> �2601 g� t1ag. and impler:svn:ir►g togu4�tiats, 24 CFR RaR 3500. ns they mey be amervd90 !rom time t0 ttne ('RESPA7. ex�ePt
<br /> th�t thhe cushlon ut rasPt�+e perrn8ted by F�SPA for unentiCipeted d'sbursements or dishvfsements bs(Ote the Bortowe�s
<br /> PSY�!is are ava��ble n the Kccount may not 6e trased on amo�mts due ior tha mortgape (nsurance premium• �
<br /> If lhe amounts held by Lender tor Escrow Iterm exceed tha amounls perm3ted to be heid by RESPA. Lend� sha!account
<br /> to Barrower!or the excess funds a.a reQuFed by FiESPA H tha emounts of:unds treid by Lender at any ttne�ue not sut8ciertt to
<br /> pay the Escrcw Items when du�.Lender may notify fhe BoROwer and tequire Botrower to make up the shortage as pennMed by
<br /> RESPA. �
<br /> The Escrow Funds are pleci!�ed as ¢dd3ionel seam&y f�: al sums secured by this SecurRy InsWr.+en� li Bocrow�tanders
<br /> to Lendsr th� ivd payrt�ent of at such sums. Borrowers accoun4 shaf be cred�aa w3h the balsnce rernannp for a7 instalkneni
<br /> E�,ems (a), (b), erid (c) An� any mortgsge hsurance premhem instaM1s�ent that Lender has not become obipnted to pey to the
<br /> Se�,�etazy. and Lender shaA promptty�e(und sny exc�ss furtds to Bamwer.Immediately prbr to e toreclosure sale ot the Property
<br /> or iis acquisiiion by LenCer. 9onowei's aCCOUnt shal be Crod3lsd with any»alenCe remalnhg for a6 instalYn�nt3 ior ilsms (s), (b�
<br /> and (c).
<br /> 3. A���tCi1t30d1 O� P8y�11�1i18. A�payrnents under Paregcapha 1 and 2 ShaM be epp8ed Dy Lo�der es to8ows:
<br /> First, to the moctBage lnsutence premium to be pnid by Lender to ths Secretary a to tt� monMly ch8rpe by the SeCtetsry
<br /> instead o►tha menthy mortgags irtsurarice premlu�m:
<br /> Second, to any taues, specisl assessments, leasehola payrtsents o� ground rents, and lire, ffood and other hazard
<br /> nsurarsce pramiums, as required:
<br /> Thlfd, to interesi due under the Note;
<br /> FO:�rth� !o amortization ot the Qrincipfll of ttt� Note; ent!
<br /> �ifttl, to late chxrgss due under the Note.
<br /> 4. Fire, Floeai and Other tia�srd insurance. a«rower snao rrsure aa tr,�rove�r�,cs on 4he Property, whec►,er
<br /> no•.v in existence or subseq�enty ereated, apehst any haratds, casuak'ies, and cwetin�encies, includhq fire, 4or which Lender
<br /> requlres Snsuranca. This hsure��ca shas be maintstned in the artwu�ts and ia tAe Perbds thet Lender requires. Burtower ahall
<br /> also �sure su irt�rcavements on the ProFortr, whethe�r now in eocistu�ce or subseQuently �eCted, apainst bss by tbods to the
<br /> extent required by the Secretarr. AH hsuranco shai bc c�d wkh comps�nbs approved by L.ander•The hsurence poGck+, a�nd
<br /> any renewals shap be he1Q by Lender anG sha6 lnct�de bss payable clau56s . tAVOr of, and in e i�xm aCC�tabb to, Lender.
<br /> tn the event ol bss, Bo�rower shaA q3ve Lender irm�ad�ste rtoti6e by msH. Lender may meke proofi :�! lass � +►ot made
<br /> pramgty by Borrower. Eac:h insusance company concemed is hereby suthorized and dkected to make payment tor suCh bss
<br /> d'recty to Lender, E�stead of to 8artawer and to Lender johUy. At or eny pert of the hsurance proceeds may be appRed by
<br /> l.ender, at its optbr+, edher (e) tr the reduction o! tM�� indebteMess �nder the Note and this ;ecur$y instrument, tirst to any
<br /> doGnque�t amcunts appsed in the wder in Parsqraph 3,end then to prepeyme�nt of�ic►cipa4 0�(b)to the restoraHon or ropat of
<br /> che damaged Property. My xppGcation ot the pr�ceeds to the pnc��at shait not extend or postpong the due daYe ot the
<br /> monthly payments which are rehrred to in Paragraph 2, or chanqe t!�►9 em�t,.�+t o! such payments. Any e�xess fnsurance
<br /> proceods over nn am�unt reQuired to pay etl outstandi�g hdebietJness ur�det the Note 8nd thta Sec���ity Inswmant shal be peld
<br /> ;o the entity legfl'.ty ent�led thereto.
<br /> !n tha evan4 ot taretbsure of tfiis Security InsUumsnt a other martsle� ot ttle to ths Property thet extinguishes the
<br /> indebtedness, aA right, t�le and interest ot Borrower in and to Inwrance pofcies k� torco sha!pass to the purchaser.
<br /> 5. Occu�aarer;* Preservatlon, Maintenance ae�d Protection ot the Prop��; Borrower'a Loan
<br /> A�ptic�tlon; Leaseholds. sorrower snaa oa.vpy. escab�sn, and usa Me Property as Busrowe�s pnc�ipal resfdt+nce whhh
<br /> s�y aays aner cne axecnt�o� or tE�m sea,r�y �,ow�r+e�t (or w$n�, sbay deys or a tece� ss�e o� aa�ss�o�cr,e �roperty�end snen
<br /> continue to occupy the Property es Borrower's pnc�ipe0 residence ta at least one yea► aRer the date ot occupancy, unless
<br /> lender deiermv�es ihat requirBrtient w�cause undue handship for Barower, ot unless extenu3tinq cirCUmstances exist which are _
<br /> bsyond Bortowe�'s cor.!rol 8ortower shaM not�ly Lender o1 any ex4snueUnp cirovmstances. Barower shaM rtot comr�lR waste or
<br /> desuoy, dama9s or substantiaMy ch�npe the Proporty a• a0ow the Property to deterloiate, rensonable weer and teer excepted.
<br /> Lende� may hspect the Property f the Propeity �S vac�rtt or abanduned a the ba.: ks in defauh. Lender mey take reasonable
<br /> act+on to proloct and prese+w such vacant or ab�ndane+i Properiy. Barower shaq ako ke fn detauR H Borrower, during Me loan
<br /> appC�atio� process, gave rt+ate�laRy talse or lnaccu�te intormation o� st8ternents to [en�7�r (or fa�ed to prwide Lendar with any
<br /> material informat4on} in corsnecYan w$h the ban evider�►ci by the Note, incbd'oy, b:i not &n�ed to, representations cocicemhg
<br /> BorrowePs occupancy o! the Pr�perty 8s a prncpal n+sidence. M this Secu�y Instru��ant is on n leasehold. Borrower shal
<br /> compy w4h the provtsions o! the tease. TF 8orcower ac��tes fee Ut1e !o the Propgrty, the Ieasehoid end tea tRie sha0 not be
<br /> meryed uniess Lender aprees to the mer�per in wc�ing.
<br /> S. Condemnation. The proceeds ot any aw�ard or clain tor damaees, d'rect or conseqvential, irt connectiw.� w7th any
<br /> condemnation or otRes cakaig at anr part of tAa Froperty, or for cortveyerice in pkace o(condemnatto�, ere lK,rahy t�ssigned t�nd
<br /> shad be paid to lendes to the extent oF ihe tui amount of the ndebtedness tfiat remans unpaid u��Car ;ita �lote st�d tTis
<br /> Secvr�v InsUument_ t�der shaA appty such proceeds to thB redu,.�tian of the indehtedness under the :�o�' an� this SeCVrlty
<br /> I�strument, fvst to any deCnqusnt ameunts eppbed �s the ader provided 'n Peragraph 3, and then :c pr�paymant of �mCpal
<br />� Any appGcat?ors of tha proceeds to the �ri�c�oal sha9 not ext�d or postpone tTsia due date of the monthif p,5q2taant5, �hiCh 9r9
<br /> re'eRed to in Paragraph 2, or char.ge the azraunt of such paymersts. Any excass procaeds ovar an am3;rnt raquted to pay aii
<br /> outstandrg ir;dsbtedness und�the Note and this Security InstrumenY sha�bs paid to ths entty IegaQy enti;ed thereto.
<br /> 7. Charges #o Sanower ard Prat�ction af Lender's Hights in the Property. aoROwer st,aa pay an
<br /> gov�mmental or munCipat charpes, ��es and imposAans that ere not ��clvded 'n Paragraph 2. Borrovver sha9 pay these
<br /> obfgaticns on tcne d'recty to ttie enY9ty which is oried tha payrr�ent� M fa3�ra to pay vmuld edverseM aHect Lende�s interesi ln
<br /> the Property, upon �enders reqvest Bortower sha8 promptty fumish to Lender recepts eviCencing these paym9nt�.
<br />� lf Borrowex ta� to mske tt�ese Fayments or the payments requlred by Paragraph 2, or fa➢s to perfortn any other eovenants
<br /> and agresrt�ents conta�ed � tt�is Ss�srity instrument, or th�e is a tege!proceediog tha!may signaicantly affect Lendera rights in
<br /> the Propery (such as a proceeding in bankruptcy, tar ccu►dermatbn or to enlorce laws or reyufations),then Le�der may do and
<br /> paY wtiatever is necessary ro proteci the value M the Praperty and Lenders rights h �e Prope�ty. ticiudinp pa�m�ent ot t�es,
<br /> haznrd fnsuranca r.�d otAer��ru merstbned in Peragreph 2
<br /> �se+auacs�io1�J Pao�z or s
<br /> �
<br /> � ,
<br />
|