|
' _ � . � . . . ,:t,r� l+i...; . � ..
<br /> � . r ' Y . '�µ.:�• .. ��r .
<br /> ' �
<br /> ♦S,l•��iY.4.
<br /> � ��� .,� ��•5'Y,� iiii� �E�RECORDED� .
<br /> ' 101I.S9'y �_�_=
<br /> -;��;- - 93• 91-- 10�'801 �;
<br /> .;., -
<br /> - 1. we�t d Pri�cip�l�I�krwt�d l.M�Crv�e. Barrower dwll pay wben dur�he printipal nt:mJ iate►c�t on, -� ��
<br /> _ . _ . ---- � -- '�.�s!=�C!'�hY thc Idats sst�!a!e��•,_•o•����!��,!!Y�h!�N,•,• .
<br /> =- �. Mo�wr af.aws d'�laiwra.o.a.d ou�Crar�ea Il��rtower sluill lnclwic in each monWY MYmo�t.
<br /> .:�1� � ' wilh Ihe p�incippl+md iate�st m cet fohh in the Nalt aM any I,+te chargcs�an lnct�llment ot any 1�1 axea and �_
<br /> ; ,: �.;:}`"•�'' •�...,,, �p�acid sstnent�kwkd ar W be lovied a�ainst�he Property,1b11oaselwW p�yrnemA or�oumi naNa an�he PropeAy.and
<br /> :* y�:. *. (c)Pmmiums(or inwrarKe requiad by P a r a�p h 4. �"'�
<br /> ' �.��? B�ch monthly it�rtallrtxnt for fte�n.+ (e).tbJ snsd tc) shall eque! one-twelph of�he Annual wn�wtqs. su rca�an�bly
<br /> . �.•:;..,.:,, estinn�tod by I.eadot. plus �n amouei wfi�clent to ma�ntain an addilional balance af na1 mare thwn one•sisth af the
<br /> �-�s estlm�tod iunounta. Tho full wrutwd artwunt for exh item siwll be accumuluted by I.�:niler within �pc�iod ending ane ��
<br /> + ^"`i". i��: n►at�th befae�n itap would became defirquent. Leoder shall hoW�ho anuwnta collected in tnic��o pay items(a1.lbl and �
<br /> ., ,�°. (c)befaro tliey became delirque��
<br /> _--• ,��,�.�. ,� If at any dmo the toW of the payments I�eld by Lcnder far i�en�s la).Ib)und lcl.loge�her with the futum ma�LX �'.
<br /> --�`=�� �r p�ymcnts far wch ltemr payAble ta I.ender prior to the dur deaes oi'sucd items, excecdr by more �hon one-sixth 1E�e
<br /> ��- �� � , ,* �� estirtwtod�oi PaYn�ents ro9ufred wpay such Uems when due,and i(po rnentx ao tl►e Note nrc cunem.�hen Leeder
<br /> ='�-°' " slWl eiWer�efuad tbe exaess arer ane-aixth of�he estimatal �
<br /> ,� �,�� pvyments or a tf�e excess ove�one-six�h ot 1be e���
<br /> ��."i. ` ..,� ;� �` ,�, ��P,�Y�ts b�Bomower.at the optiRa oi'Ba�ower. If ttoe totad of�Ac payments made by Borrovrer
<br /> =,�,;;,,� .� � ar item l�l.(b1,a�lc/is msuificirnl to pay the item whe�due.tMn Barower shall pary w I.eacler any sunount aa.�essr+�y to --
<br /> � "' � ` n�a up the deficienc�r oa or befare the date�he item becomes due.
<br /> . - � ' . '�`• As used in this Securit�r Instiument."Secretary"means 1he Secretary of Housia,g and Urban DevelopmeM or his ar her -•-
<br /> __ �,.::-' : , ; "� d e s igax. l a aay�rair in w l u c h t h L.en d er m u s�pay u m o r tgage insu�u�cx premium to d�e S e c rc u►ry.eac h ma�lh l y W9mem �"-_`••
<br /> sMll Also iaclude eiiher: (i)ap ins�allmem of the annual moMgsge inwuanc�c premium to be paid by Lender to thc
<br /> � ��. : . � , .�� Socreuu�y.or (iil a moolihly cha� instead of a mongaga iasuram�e pemium jf�hia Serurity Instrument is hcld by the
<br /> d� � - Secatary, Fach mo�thly insallmeot of the mortgage insurance psmium shsill be in an amowu suff�cient to accumulate aiie �"
<br /> ;. '. . sh 1
<br /> �='__— '---- full annual mcNtgase insuramr pee;:c�fum with Lender one month prior ta�he date 1he full annual matgp�e ia�,rr�ce -
<br /> -- --�-:-n=,_� � , �:,�,.
<br /> yK-�?�? p�emium ia due ta the Secretary;c�a�i this 5ecun ty Inst�umem is fieid by ehu:Secrctary,each munthiy ci�rgc�htilf b�.in an •
<br /> ' `'���'y= • �rt�o w u e q u A l t o c x�c•c v.•c�Q b o t o r►r fi a l f p e rc e n t�f t h e o u t s�a n d i n g p ri n c i p u l b a l a n c e d u e o��h e N o t c.
<br /> ,, „ ��.'�".��,,; ��;-y �' IF Borrower tencr:.hrs a�4.e��ler the full payment of all sums secur�ed�rp�his Security lasuumenl,�Mrower's account %"
<br /> .•„ �' shall be crcdiud �rith 'tBac �^uGAn�e remaining for all installments for items la).Ib) and(c) and any �aa���tgage insurance
<br />:_ '���'!?:�.�'y',''��� installmenl that Lxnd'tT ha.a nat become obligated to pRy W Ihe Secretary.and ILemider shall pmmpdy refwd an .
<br />-. � . . :..,,,,s,�f,fi� �� � .•_
<br />_- y ��r �t�,..y.,� excxss fwods to Bottower. dra�a�xerliatsly prior to a foreclosure:�:c8rc of the Property ar its u�;mixltion by Lender,Betrua�rs
<br /> •�'1i�,�•ti '�� ;^' aocount shnll6e cn�Wed wlth;ua,a baiance remaining for all in:�ta99ments for items(a).Ibp.ur,�fe 1. �'°
<br /> - � ' �:�.:...e.�r,� ,;-�; . 3. Ap licativa at Payments. All payments under Parngraphs I and 2 ahall be s�pplied by Lender a.�:on�llows:
<br /> . � '.;1�,�';!:". ' �to�he mortgage inRUrance premium to be paid by l.ender to the Secre�ary or to the monthly c?�arge by the
<br /> _• � -.:�t;':.;�;'�'J�., Socre ins�eud of�he manlhly mortgage insuR+nce premium; �_
<br /> . '.�'' �,�,to eny taaes,spcti�al assessmentc.leasehold payments ar ground rentr.and G�e.flood and ather hazand -
<br /> .�. ,.::�j��':
<br /> -,�. insurance pr+emfums.as rc�au�ed: -- -
<br /> :�.. __
<br /> � THIQQ,to irueieat due un�er the Nae; "�--�
<br /> �'-•, ;. s, �.� �,ta:useortiaation�f the princippl of�he Note: ""'°
<br /> '•"-� �.�t, ;� Y �.to late eharges due under the Note. :?x��_
<br /> � ••.4� 4. Fire.Flood and Othe� �s�rd Insurance. Borrower shall insurr aGl imprc�vements on the 1'n^a�crtv,wh�ther��K• `��?�=
<br />_-- � •• ,,.�::�y�;. in e�cistence or subsequendy r�ec�d.ag�inst eny hazards,cucuaUies, and cuntingencie�,iacluding fire, For which E.emtJer ;W'__
<br /> ;i,;;;•���+ aquires insurnnce. 't'ft�is insur.�c�shall be muimained in the um�wnts ond for thc periirais e�1w� l.ender rcquires. HvR�owEr g';`,
<br /> _ ,..:i1c�:i��1(,5�:'i:�rl• - RA�f...
<br /> -- -.. __ _ ahall�Iso insure atll improvtments on�hr Property.wlx�her now•i�exic�ence or suhseq�wrR��l� rrectMl,ngnin�t Inca by FB,�ads �t_.,
<br /> ° ' � � ` _°;, ' to the extent reqwired Ty 1he Secretary. All insuronce shall be cs�rried wilh campanies upproved by Lender. 'ilie insuranc� ,;.
<br /> . � .'�. .. ", policies and siny re�wals shull 6e held by Lender ond sh�ll inrlude loss pnyable clauses in favor of, and in a form ��,`
<br /> . � n
<br /> . ; .� acceptable to,Lemkr.
<br /> •••` �� In the event of lo,�.Bormwer �hnll givc Lcndcr imm�diat,�noticc by muil. Lender may malce proof of loss if aot —
<br /> �� —
<br /> , r°;;;.,: ..' mede promptly by 8orrower. E:�ch inxu�nce company concr�x:ed is her�eby uu�huriied wid directed to make paymrr.A f�r __
<br />; � ' .• ., ' suct�9oss direcUy to l.ender,instcud of to Bom�wer und to Lenc!er jant{y. All or uny paN of the intiurnnce proceeds may fie �
<br /> ';� , „ app Ned by Lencle�r,s�a its optiun,ei�her(ul to the reduc�ion of�he indebtedn�ti�uncler the Note und this Security Insuument,
<br /> Y 9 PP A P P PY P P �-'�
<br /> firxt ta an delir. uent amounts a lied in the order in Puru ru h 3, und then to re u ment of rinci al, or(b)�o the or__
<br /> , ' .� .;; nxtaxatfan ar repa,r of the damaged propeny. Any applicution of thr prnccedc tr the principal shull noi eatend ar postpone �..�,
<br /> �A L �-� " the 4lue datt of t?�e munthly pnyments which sue mferred�o in f}aragruph 2,or change thr amoum of such pAyments. Any ----
<br /> �-:�` ��^` ' •eac�ess insur.uice praceeds over on amount required to pay aU ouist:u�ding inek'bied�,s an.�er the Nae and U�is Securiry �
<br /> �1 • •,f.` InsaPUn�ent shall be paid to the enti�y legally entilled thcn:to.
<br /> ` .' ,�`'� �- � �';;;.
<br /> �,}:,, , r. ,h . � In the event of foreclosure of this Security Instrument or otlx�r trLn�fcr of tiUr to �he Propeny that extinguishes the ���
<br /> �� ' �� d�t;� indebtedness.nll right,tide und intcrest uf Bormwer in:u�d�o inrurnnce po�iries in force tihall purs ro the purchaser. ---
<br /> :�'l�u�_:.�.�' '.�',. + "--
<br /> :�.,.,,,, t.j, � � .? •,;y,. S. Occupancy. Preservatlon. Maintenance pnd Protection ut the Property; Borrower s Loan Application: -��
<br />,.���,' ;,; • a,c,;,.,� l.eareholds. Borrower shall occupy,e+wbli.h.:mci u+e �h�Pmpeny u.� Burmwcr; principal rcsidence wi�hin s�xly duys ��`
<br /> � r,,. ,kr�-;:�•^•.� ; ' aftcr 1he execution of this Securiry Instrument und zhall cominue to uccupy the Pmpeny uti Borrower's principal re.r•idence _-._-_
<br />•�, �••.. nh k��Y�,• ;: •--
<br /> , ., ' ,,�rk. ;„ , for at lzuat one year after thc datc of accup:u�cy,unlcs�thc Sccrcrrq•dctcrmines thi�reyuiremcnt�vill cuuse undue h;uclxfiip
<br /> , "'� � . fo� Horrower, or unless extenuuling circurti�tanceti ezist which arc heyond Borrou•er1 contml. Barmwer shall nnlify �_'"
<br /> �� � �.�Y.,,�,��_' ' .. .; l.enders of smy extenuating circumtitsuKes. Bom►wer.hnll not commit wati�e or destroy,dumuue ar xuMluntially change " -
<br /> , �.,;-�'�'' the Properry or n99�µthe Property to deterior�tc,rcu��nuble wcar unJ�eur cxccpted. Lrndcr muy impect the Propcny if the ��•
<br /> + .>�.;j;'�i• °' I�a�eny is vacany or abundoned or the lo:m is in drt'uult. Lendcr muy�ukc rra�onublr action to pmtect and preserve such
<br /> • :� .�;�.���1��',t� vacaras or abandoneJ Pro�eny. Borrower+hnll al�o he in defaiQt if Borruwer, durin�! th� loan application proces.. gave �
<br /> �' . � �,� mutcrially fAlse ar inaccurute information or x�utement. tn �Lender lor fuilcJ ��� ��r,��•id.. Lrnder with any �nutsriul ,
<br /> ::. -_---��';�'•��.•� btformation) in c+mnecnon wnh ihe luan evidenced hy thr �nc.. inr)udin�.but iw� li,,,,:cd tu.icpreaz�iaatianr:ct;ncernin�
<br /> .:? •�. •,��.` i��}tk���•.,• Borrowerk�iccu�:incy af the Property:��•r principal re.iJence. �i thi, Secu���r.,.�;,y�rument i.nn u lea�eli�ld.Hnrtuwer vhall
<br /> _�T _ � 1 �' ,�� comply with Ilce pri�vi�ion.uf Ihc lea.e. I(Bomiwrr•rcyuirr�f�e�itle tn th:�Pra�Mrly.�h�le:��ehult]:+n;C rtae tille rh:�ll not � ,
<br /> �,;� � � , �:��;� ,;,� be metged unle+.��.ender ngrec+ro the mrrgcr in writing.
<br /> ,1 �� �� � '� f��'��•� � b. (:harges to Borrower npd Protectlon of I.ende�'s Ri�dts ia�1�IP��1v. �Krnwcr.hall pay all governmenwl � �
<br /> +� ,��ik�j � k '(„�.'1�,:.,:� ' �
<br /> �.. . ', ,t;�',•:};:;; , ar�sjxnicipal charges.fine�nnd impo,itions that urc not in�Ic.Eecs 1R IP�317U�Q8pIl �. E�.rrc�nwer tihull pry thece obligati�j�:�,an ;
<br />,',t�;���5�,�; • ' .,��:,^�����:, time directly to the en�ity whirh i. uucJ thr pu��mrrt. 19'i:�dure to ru+. u�,u:d.�d�es-�•1� :d'fer� LrnJer: imerr,t �n tfic �
<br /> �;t.�,'ti,'.�� Pro rt u nLender;re ur+t Butruwer�hall ront tivl'urni,hloL�ndc�rre:ti�+�+r�idcar�n�Ihex a�menl.. �,
<br /> �,. •i: �c. �'� Pe Y• P� 4 r r . � E P�.
<br /> .'?'.'}�/'1;� �b . - If Bnrroue�r�x�{x tu mak� �hetir pa�mem� ur thr payimnt. Ryuir�n. i��. 1'aragraph �.�►r fad. e.�pnrti�rm arrv othcr �
<br /> �;•: t�`; r• .,; r;,�i,'. : .�� covenwtts und a�reerienl.rontaineJ in thu Secunt} In,trumem,ur thrrr i.a legal pnrreding�hat ma� ,ignifiranUy alTeci ,
<br /> � �f''� Lr�tdet's ri h��aa�af�e Prn n 4,urh a�r nxrrJin�m b:uikru k tirr cundemn•rle.m.K to rnfunr lu�„ur n�uletux�.�.
<br /> ,;•�:h,::1 ��� �.:l�:!�''�z.r.�'� B pc }" P b p '}'• 6 ,
<br /> . -� ;:T'r;';�;s:'� - tf�[.e�cler mr�a�.�sn and pay wewcrver i�ne.r.wn �o pr�aeri mr vaiur ut�nr fT�rpenp :rna Lendrr�nghh�n Inr 1•u�rm.
<br /> ' �' ��'`''��� inc�uJ�ag pa}•mr,r�ot taxez,ha��rd in+ur.u�re and�xhi.�r uem.mrntioncJ in Paragraph=. '
<br /> } '." My�noaccc,.;t:�buned by LeniM�unJrr Ihi,P:uagraph.hall tka�:m•rJdil�onal JeM uf 8��rniwer and t•�xcurrJ
<br /> , !� by this 5ecuriq Itri.arument. Tt�ece:uncwnt..hall frear mtcrc.t irom ttk du�r�►f di.hunemrn�, rt tlx Nutc ra1r.anJ at thc .
<br /> �r � •�• optian uf Let�der.shal)be immedi�tely due und p•r}•rhte. �
<br /> � � ��`' "� � 7. Condemnatbn. The ptoceeJ�of:u�y uward ar ct�m fix Jamagr,.J�rec�ur c.mreyurnuul.in cunn��tiun w ith un�
<br /> } �;� � .carr�demnmion or otlxr toking ot any p;ut o(the Pro�ny_�K!�K�an�y.uke m pl;r:e��E cundrmn:►uon.:u�h�nby u�.ignrd
<br /> • � � � nrtd shall be paid to Lender io the extem�il'�he I'ull•rmoun��d the indrt+izdne,ti thy c�main.unp:�iJ unJcr Ih�Nute:u�d thi+
<br /> - � �, • ::{i;,,,.� Securiry InstrumeM. Lender xhall upply�uch pnxeeJ,tu�hc rcductiun of the inJehtrJne++unJrr thr Nutr:u�J�hi.Serunl�
<br />� • " ' I�cwmem tirst to any dclmyuent :+mounl� appl�eJ m the�►rdcr prov�deJ m {'arugrnph 3, anJ �hcn tu prcpa�mcnt ut
<br /> , : � ��,� � � pMcipal.: Any applicati��n of the pnxred+ �u �he pnnripal �h�ll na eztencf or pu.tpune �he dur Ju�r�t' �hr munthly
<br /> � �'�� � �
<br /> +�, � � ,,.. , ' . • � q+�p�'��.1 ry,�r��� � -
<br /> �V ' �
<br /> .
<br /> , _ _ ,_ ._. _ . -- .��_ ._ __
<br />
|