|
,��
<br /> � �
<br /> . - � -* .
<br /> ��� 1��V1�'
<br /> LlhtFOttt�t CovEN��TS. Borrowec`u►d 1.ender coverunt and agrce sis foitaws: :�-��
<br /> . i. Pay�t of PrUcip�l�d i�tere�t;3're�ay�cet wd I.�te Chu=a. Borrower shnll prortt�rt�y p�y u�hen due � �
<br /> the principal of and interest on the debt evidenced by tht Note and any prcpsyment end lute chargcsdtl�t�t�dsr the Nate. .
<br /> 2. �F�s forTaua ua lawru�ce. 5ubject to applicable faR orto a writtcn waivcr by Lend�:r.�fi'�pwer sbal�f�pay
<br /> � . to Lentkr on the day.munthJy p�yn�sents are dr�under the Note,uatii the I�tote is paid in fu1j,a s��m("!'und�i')equal to
<br /> # , onatweifth of•.{�)yearly E�ces a�nd assessmrnts whic� may �tt�+ih prierity aver this 5�ratrat.y I�`tsir-�tii4ant; (bj yearly
<br /> teasehold.paymentx or grou�d rents an tht Piroperty, if any; (c) yearly haz�rd ittsuranee pmmium�: c�Ra ta3 y�aFly
<br /> � tdortp�e iaawruzce premiums,if any.These itans are calkd"escrow item�."Lende�r mAy estimate th���+»ds due on th�
<br /> , bws of currtnt dats and rasonable estipiata oifuturt escrow itetns. ::`
<br /> 'Tbe Funds shalt be beld an xn inst'ttution 11�e deposits or aecounts of whic&ara insur�ar$u�r�'ni�ed by a fedtral op: �
<br /> - � ' �u a�cY(iaatuditUt L�n�c3�t it Lendtr i�s�ch�an institution). Lender sha�l apgly�tba Fufid.w i�t:�ay the ts�rflw�items.. � - -
<br /> ; i,a�det tn�y�x+t cl�u�e�'or tw{dinE ind applying the Funds,arwlyting tha account�r verfyin�ttj�escrow items,untess-
<br /> " i.eoder p�yrs�orm�rer iaterest an tbe Funds snd apPliabk la,w pennits Ltnder to make sual�.a charge. Horrower and
<br /> ' Lender msy a�ree in writins that interest slaJt be patd on the Funds. Unless an agteemcnt.i&made or applicable law
<br /> roquires interest to be paid, I.mder sh�31 not be required to pay Borrower any interest ur ear�inao qn the Fun�s.Lendtr,
<br /> s�ave to HotraMer.wnthout charge,an annual accaunting of the Funds showing credits aad tt�bits�to the Funds and tiLi .
<br /> � purgose for which acte debit to tke�'unds wrs madr.The Fnnds are pledged as addiuonu2 secnrh.,�•Car the sams secured�iy�,
<br /> : tbisSecuriiy Instrumeat. -
<br /> ; ' If t�t amount of the Fursds held by Lender,.together with the future monthiy payanants of Funds�a4}ab.le prior to
<br /> tLe due d�tes of t!k escrow items,shail exc+eEd the amount reguired to pay the escrow items when due,thc excess shall be,
<br /> � �t Borrower's option.either prompdy repaid to 8orrovver or credited to Borrotver mn mantffly payments ot Funds.If the
<br /> • amount of the Funds heid by Lender is not su�'icient to pay the escrow items when dus,B�rrawer shall pay to Lender any .
<br /> � amount nacessary to make up the defrciency in one or mare payments as rcqaired by Lender. � _ '
<br /> Upon payment in full G�'�!I sums secured by this Security Instrument.Lendcr shaU:prampily refund to Horrower
<br /> • sny Funds held by Lender.If��r;,.�paragraph 19 the Praperty is sold or acquired by L,endar.Lender shaU ap�ly,no later
<br /> thar►immediately�prior to the s;tl�c;t`the Fr.s�perty ar its acquisitian by L.ender,any Funds held by Lender at the time of
<br /> ` applicat'an u a credit against the s���ro3 by this Security Instrument.
<br /> ' 3. AplFestioa of P�ymenls. �.K�applirable law provides otherwise,al1 pagment�ceceivcd by Lender under
<br /> , �ar�si�lrs 1 and 2 shall be appl�rr�:first,tti?ate charges due urtder the N�te;secand,ta prepayatent charges due under the
<br /> , Notp:k�'�ird,toamc�unts payabte i,u�der paragraph 2;faurtl�,to imeresi due;and lust.tn prinsipat ciue.
<br /> ' ;�. Clpu�ex Lie�. Bc�rrower shalJ pay all taxes,assccsme�ts,char�es, fincs and im�.j�itions attributable to the
<br /> '� Propeny �vhich may attain priority,over this Security Instrument; and leasehotd payme�c5 ar ground rents, if any.
<br /> Borrower shsll pay thest obligations in the manner provided in par�,maph 2,ar if nat.paid in that manner,Borrower shnll
<br /> - pay them on time dirxtly to the person owed paymcnt.Borc�nwer slialt promptly fur.nish to Lender all notices of amovnts �'
<br /> to bZ�i�3 ua�dtr this paragrapJi�I€,Barrower makrs thcse paymcnts direceBg,�srmwer sha�l promptiy farriish to Lender , --�
<br /> �_.
<br /> receipts evidencingtht payments. !-
<br /> Borrower shall promptly discharge x.�y lien which hus priorsir,avcr t�nis Security lnstm.rsnent unless Bomower.{a)
<br /> : agras in writing to the payment of the obligation secured bX the lien in a mnnner ac�cceptable t�n�,es:►der,(bj eontests ic�ga�d
<br /> ! faith tkts lien by,or defends against enforeement of the�i�.�i in,legal proceedings which in thc G�.-�der's opinion apectx�to � :
<br /> prevEtsc:the enforcement of the lien or forfeiture of any p�rt of the Praperiy;����.)secures Prai^�t&e hofd;ft�'e#the lisvi an
<br /> , agrtem�t satisfactary to Lender subordinating the lien to this Securat;r 1�,��t:rs�n:ent.If Lender�.:esmir.cs rh�i�ny pan of
<br /> the Property is s�alsj�:s to a lien which ma}�attain priority over thi�,.��:.'.:�rity•lnstrument, Lexx�r may give Borrovr�,s a ,
<br /> s notice identifying��k��1ien.Borrower shalY sutisfy thc litn ar take enr r��s�srare of the actions set£�rth above within it���-�s
<br /> --- , of the vin of rwti�e.
<br /> 8�. 6 . _ _
<br /> S. Huar�d Insunnce. �'d'otrower shall kcep thc improverrte�ts now e�isti�tg�r hereafter erected on the Property
<br /> � insured against fossby fire,haza:ds incladed within the tenm"eatended coverage"�nd any other hazards far which Lend�r
<br /> ! requirts insuraace.This insurance shaN be maintainec! in the amounts and for the period�•ttiat Lender rcquires. �'Tsx:•
<br /> � ; � insurar�ce carrier providing the insurance�5�11 be chosen by Burrower suDject to Lender s a�s�srava!which shatl�c���r� '
<br /> . unreasonably rritbheld. • � �
<br /> All insurance policies and rentwals shall be aeceptaole to E.ender and shall include a standard mortgage cls�use.
<br /> -- - L.er.dia�r�haU E�ave the nght to hold the policies and renewals.If i.ender rcquites,Borrower shall prompt3��ive to Lencicr �
<br /> a1S receipts of pai.�.�rr.,.rRiums and renewal natices.in the ever►t of loss,Annower shali give prompt notice ta the insura�,�� �--��`
<br /> carrier and Lenc'x��.�:ender may make proof of Ic�ss if not made pror��tly.by Borrower. ' �
<br /> Unless Lendee and Borrawer othecwise agree in writing,in�urunce pracecds shall be ap}:lied ta restoration or reFa:Y � �;
<br /> of ilv:.Property damaged.if the restoratinn or repair is ecunomically feasible anil Lender's security is not lessened. If the '
<br /> restoratian or repair is not ecortomically feasible os Le�t,irr's security wauld be l4�ssened, the insurance proceeds shall be
<br /> applied to the sums secured by this Se¢ti�rity lnstrutnent,whethcr�r roi thcn�iue,with any e?!ccss paid to Borrawer. If
<br /> � Borrowec abandons the Property.or doex*a!!.answet within 30 days:s notice from Lender jli�tt the insurance carrier f.t:is
<br /> offercd to settle a ciaim.ihtn Lendtr may c��itc�t the irrs:.�rance proceeds. Ixnder may use the�3raceeds to repair or restare
<br /> t�P�to�rty ar to pay sum4 securod by ttu,�yesurity Inylrument.whelher or nnt then dur.;�ILe 30-day}�riod will begin
<br /> wYi:vaclie notice is given.�
<br />- Unless l.ender ar�d BorroK•er c�thenv:se agree in writing,any ap�lication csf prc�ceeds lit�1e'incipal sl��ti not extend or
<br /> postpone the due date of the munthly pay�it�ents referred to in paragraph9 1 and 2 or change the amount of the paymatiy5.. If ,
<br /> under parsgrfph 19 the Property is acquired by Lender,Borrow�er's right to any insurance policies and prviceccfs resuliing
<br /> from dama6e to the Pr�perty priar tothe acquisition shall p�ss to Lencler tn the extent of the sums secured by this Sec�r�ty
<br /> lnstrumrnt immediate�y prior t��the acyuisition.
<br /> 6. Praerratioe and titIIitsten�nca oP Properfy;l.easeholds. Borrower shall not destroy,damage or substantially
<br /> _-.�' change the Property,allow the t'mperty.��i deteriorate c�r commit waste. If this Security Instrument is on a leasehold, _ _`_
<br /> Borrower shall comply with the provisions of the lease.and if Borrow•er acyuires fee title t��the Pro}+er1y,the leasehold and +
<br /> fee tiQe shal)not merEe un[ess Lender agrees to the merger in writing. �
<br /> 7. Proteetian ot Lender•s Rights in the Propesty; :�tartgP.ge insurance. If Uorrow�er fails to perform the ,
<br /> eavenants and a�r+eementscontained in this 5ecuritv Instrument.ar there is a lecal prexeeding that may siRnificanUy aRCSt
<br /> Lender's riahts in Ihe ProE►rrty(snch as a �+rcxeeding in bankruptcy.probate. for condemnalion nr to enforce law�s or
<br /> ' aeulations),then Lfnder rt�ay do nnd pay for whate��er is necessary to protect thc tialur of the Pruperty�and l.e�►der c r�ghtc
<br /> in Ihe Proptfly. Lender's actions may inctude pay�ng���p sums secured by� a lien rchich has prtonty n�er thi� 5ecunty
<br />_ � /nstrumeni,apCearing in rnurt,pay ing reasi�nabl�attnrney��fee�and entenr�g c�n the Property tc�make re�+airs ANhuugh
<br /> l.ender�nay take aclian undtr�his patagr�ph 7.[_enc�et does n�+t have totlo su.
<br /> A��}•amnunta disbursed by Lender under this parsgraph 7 shall beEnme addit'tcrnal debt<�t'E3�rr��«cr�c�ureci G} thi�
<br /> Stcurrty lnstrurr.ent.Untccs Ciorr�wcr and I cnder agrec tnathe�termc of pa�mcnt.the5e am��unts shall hr.ir�ntcre�t f���m
<br /> • the d�[e c�f tltst►utserttent 3t tf:e ':�c�tr rate and sha�i h: pay�bi�. «�th �nr�ee.t, u���n m+n:e trF�fii te!�c�r: t,= �)i�fff}l�ti
<br /> f
<br /> �- rryuc�sttnp p:�yrtt�nt � �
<br /> ��
<br /> _ . �..
<br /> �+��
<br /> '�� ,
<br /> ' . �
<br /> . • s
<br />
|