|
_ ______ ___ __ _ _ _ .
<br /> � - _'... �;:s�1s..evL..�..ar.arie�44�,t':......w�•.::r_rr�:, _'S. ..::�.,, .
<br /> ° . ... • J�,:.,. . ' . , .� .,�..�o.�.��'�eur�i�'F•r"-.?�:'-
<br /> '. , . .. ' • � • . . ' ' ' �,�� �r.:_'
<br /> � . .. ,N��f
<br /> � i. �1ltMl/�IiM�rrt NM 1.M�CM�el. Aa�ew�r rNdl M�►�rM��w i�/d�oi��irM i��i�► ', " �
<br /> . � tM.ira��iy�+r.�a�.�.--�ee��we aAae��e Nooe. _ .--�-- - - .- _ _
<br /> T. Mwy��qr��4,�f 7Me��.I�ea�a�t Oti� io�nr�r,i�M M�Ydr Yi� _ p�M�
<br /> �a�Mr wi�tlie p�e�drd rd wMen�t�c s�t tbhb iu Aw Now� liMe cMMr��s iMli�d�� , .��
<br /> ��� aaean�a bvled or to!�e ldvted�i�t tMe�op�rty.N) � �p�Y��� ��
<br /> Bao6�iaonthty hap�ll�aant�t�i�ror+u(�a��(b)md(a)tb�ll eqiW aiatw�elfM�d d�e aanwl anorod. a rwon�b�►
<br /> e3timn�'hgl I.a�,plw m �mo+uu euflicient to m�inain � additio�W b�Lsoe oT rw� mo�o dpn aee�itAb d die
<br /> adenred rno�r�ts. ��a i4U�nnud amount far e�cb fian�II be�oapaWred 6Y��vlqdn;periai ana
<br /> mond�bafaro�q itan wouW be�ama dc8oquene. Lemler�II bold die�a�ou�N ooBeNed in etaM to pb►be�w(�). �ad
<br /> (a)befo�o Ihoy be�oort�e ddi�w�uaW.
<br /> U�t�ry tLae tbe topl of tbe pa beld by l.ader tor Itau�(+�)�N)�nd(c��witbi die i�uwe apntby►
<br /> pry�nu Par sncb itans qy�bb w�priot W da due dtles of wcb fien�.aicoeed� b�r ruoia th�n ape-si�1b ihe
<br /> athnuad�mau�a d p�qaamu neqNirod wp�y wch iteau whoa�o.a�d if p� m t6e Kote�ra can�aa.tbeu I.ader
<br /> dWl olthor refimd Ibe ezoea ovor one•s�cth of tbe e,sthn�md�yma�u ar it Ibe exae�s w�x a�eai�th af dra�ed
<br /> p�yn�w a�P�Y�bY Harow�er.u tbo opNa►of�at�ower. tf�bo mnl ot tuo p�ya�mw ra�de bY Banowor
<br /> ar� -itaa(��(b�,or(c)i�inwffiaiait to p�y tbe itam wba�daa.lbai Aarovver�II pry to La�dt��ny�maAait aeoewry to
<br /> aWfco up tho deficieacy cn at befao tha d�e tho ikm beoo�a�due.
<br /> AA u�od ia tdi� Inibum�u."Secre+�rY"anam the Saamt�ry af l�uusia�a�d Utban Davel po anent or hi�a her
<br /> deai �rs. Ia any yar�h the I.ender mu�p�y a mortgagc inaur�noe pn�aiam w the 3ea►;uy.eaah montNlY P�Y�
<br /> �also inclab dtAer: (i)An las�lla�att of tbe amwl mort�ga Insuranoe p�omiwn to be paid by L�dor to tha
<br /> 3ec�btary.of(iil a mmthly charge inatead of a matgage ineurance pnemium if tbis Secutity Iowummt is held by tbe
<br /> . Seareucy. F.�ch mant�ly jnstauroeat of the mortg�ge larnu�ce praaiwu tb�ll be in�n aiwunt wt�icient w accunwl�De d�a
<br /> ful! anneia! Sastsr�ce psemitm�with 1,enckr onrs month pior w the date the fuU aooual i�arlS��
<br /> p�tlmit�rn b�Secntary;or it thia Secudty Inswmsnt ie beld the Sac�ewry�e�reA n�ouWiy ahar�e�hW ba in aw
<br /> aaaunt equ�l to one-twelRh of one-h�lf percene oi the owspnding P�lnc�al6danoe due oa t4e Nwe.
<br /> If Bamnwer tendas w Lrnder tha full payma�t of all sums sccw�ed by thls Security In�trumenti Hatowerla account
<br /> • ab�U be cmdited wlth tho balwioe ranaiaing for all inatallmenta for itemr(a).N)�(�)a��y�BaBe iaaurat�ce
<br /> pnennhua insmllment.ihat Lender h�s aot became obllgaoM w pay ta the Sec�etay.w�d I.enda elu�U P�P�Y��aay
<br /> euxst fi�w Borrower. tnunediaoely prla to a foroclos�a�e sale of tlx�P�ropeAy ar Its acquisitioa by Lenda.Ao��nwarlt
<br /> aocaunt slull be enditod wltb any btlu�ce remwiaing tor All iastwU�pents for itertw(a).(b)and(a)• —
<br /> , 3.�A tla d P�ym�t�f�. AU paymenta undcr P�raBrnphs 1 and 2�ll be Applieci by I.ender�followc
<br /> to the martgage lnsuranca pnemium to be p�td by Lender to the Secretary or to tbe moothly.Fh�rSe by the
<br /> �a�.�instead of the monthly mo�igxge imurat�ca preml�um:
<br /> ta�ny wce�,special asces.aneaq�.leaselwld paymenta or�rruut�d rents.and fire.flood and other hazrud
<br /> ,insunuieep�+emiums.avroq uired:
<br /> . ' �Q,w inkissi dua urider ihe Nate;
<br /> �,to unatizadon of tho principal of tha Note�
<br /> � �,w late chuges due unde�the Note.
<br /> 4. �f�+e,Flood aoA Olher Ha�aM Lwuraaoe. Bortower shall insure all Improvements on the Pnppetty,whether now
<br /> in exlcte�x or subeeyucndy cvected,ag�inst any hazwds,caoualtIes,end contingencies. including fue.for which I.eader
<br /> � nquires inauranoe.TMe inaurance shall be mainteined in the smounts end for the pedods ti�et Lender requires. Borrower
<br /> sMdl also insure all irnprovements on the Aroperty,whether now in exictence or subsequently erectod.against loss by flooda
<br /> w the extent requfad 6y the Sec�etery� All lnswance shall be carrled with companies approved by Lendt�'. 'Ihe insuiance
<br /> policies and any Rnewpl��hall be held by Lender and shall include Ioss payable clauces in fevor of. and in a form
<br /> ' aa:eptable w,Lender.
<br /> � In Ihe aveat oF loss.Borrower shall give Lender immedietc notice by mail. Lender mey make praof of loss if not _
<br /> made pmmptly by Borrower. Eech insurana company concemed is hercby authorized and direcled to make payment for
<br /> such loss directly to Lender,instead of to BoROwer and to l.ender jointly. All or eny part of Ihe insurance pracads may be
<br /> applied by Lender,at ilc option,either(a)to 1he reduction of the indebtedness under the Nwe and�hia SecuritX Instnanen�
<br /> 8rst tn any delinqrem amou�ta applied in the order in Parngraph 3,and�hen 10 prepayment of pdncipal.or(b)w�he
<br /> rcstoration or repak of 1he dpmagod propetty. Any applioaUon of the proceeds to the pnncipal shell not eatend o��ostpone
<br /> - the due date of themanthly paymenta which are rcferred to in Pw�agraph 2,or change the amount of auch payments. Any
<br /> excesa insurance pro�ceds over an emount required to pay all outswnding indebtedness under the Not�and lhis Sxudry
<br /> I�numeM shall bepald to�Ite entity legally entitled thereto.
<br /> In the event of foreclosure of this Security Instrument or other transfer of title to the Pr�perty tDiat exiinguishes the
<br />_ indebtodness,all right,tide and inlerest of Borrower in and ta insurance policies in force�hall pass ta the purchaser.
<br /> S. Occupancy,Preservadon, Mointenance and Protection of the Property; Borrowe�'s i.oan Applicalioa;
<br /> I.ease6olda Borrower shell occupy,establixh.ond use the Property as Borrower's principal residence within siary deys
<br /> after the execution of�his Secu�ity Instrument and shall continue to occupy the Property as Borrower's principal nesidence
<br /> for at least one year after the date of accupancy,unless the Secretary determines this requirement wil{�AUSe undue h+udship
<br /> - for Bonrower.or nnkss eatenuating circurristences exist which ure beyond Borrower s control. gorrower shall notify
<br /> - Lenders of any exlenuating circumstances. Borrower shall not commit waste or deslroy,damage or aubstantially change
<br />- the Property or allaw Ihe Pmperty to detedorete,reusonable wear and teur excepied. Lender may inspect the Property if the
<br /> PropeKy is vacant or abAndone�or the loan is in default. Lender may take reasonable action to protect and prcserve such
<br /> vacant or abandorcd Propetty. Bomower shall also be in default if Borrower,during the lovi ap�+fisation process,gave
<br /> materially false rn inaccurate information or atntements to Lender (or failed to provide Lender with ony matenal _
<br /> infarmation)ia caanection with the loan evidenced by the Note,including,Mut not limited to,represemaUons conceming =
<br /> Borrowet's uccupancy of the Prope�y as a�incipul residence. If this Security Instrument ic an u leasehold,Borrower shall �;:
<br /> rnmply wi�h ti�e proviaions of the lease. Iti 8oarower acquires fee title ta thc Property.the leasehold aad fee title shall not _
<br /> 6e merged unkss Lender agrees to the merger in writing. _
<br />= 6. Chsirgrs lo Borrower aad Protection•of Lender's Rights ia the Property. 9o�rower shu0i pny all govemmental —
<br />� or municipa!cha,tges,fines and impositions tPou�are not included in Parap'trsrph 2. Borrower shall pay �ttk:ie obligations on _
<br /> time direcdy to [he entity which is owed the payment. If failure to pay would ndversely uffec� Le��ler's interest in the
<br />._ Property.upon L.endcr�request Borrower shall promptly furnish to Lender receipta evidencing these payments. _
<br /> If Bo�rower faila to ma�e these payments or the payments required by Puragraph 2,or fails to perfortn any other �_
<br /> covenants and agrcements contuined in this Security Instrument.or there is a legal proceeding�hat ma�r significanUy uffect
<br /> J'_• !_"'L'1__'�.. L Jt iw L�«��.�.J..�. ��..��rwn,n�{yM A�tn Mf�ifMM YWY Ar TOIIIA��f111C�:
<br /> _ i.ciwcr a ii�nie u�u�c nary�c��y i"a'w.0 an a jn.�..'t..�i:g... r..�. - o------
<br /> then Lender may do and pay whatever is neassary to protect�he value of the Property and Lender:s rights in the Property, _
<br /> including paymentof wxes,hazard insurance und other uems mentioned in Pnragm h 2. _
<br /> My amounta dlsbursed by l.ender under this Paragrnph shall become nn�tiorwl debt of Botrower and be secured �:`
<br /> _ Ay this Secwily Insttument. These amounts ahnll benr interest from�he date of disbursemrnt,at the Note rate,and ut the _
<br /> - aption of Lender.shall be immediately due and payabte. _,
<br /> 7. Condemootbn. The proceeds of eny awerd or clnim for dumages,direct or consequena�l,in connrcrion with nny —
<br /> condemnwtion or olher taking of any pan of the Propeny,or For conveyance in pluce of condemna�ion,are hereby assignrd E
<br /> and ehall be{wid W Lender to the extent of the full amount of the indebtedness Ihat remcuns unpaid under the Note and this
<br /> Security InstrumeK. l.ender shall apply such pmceeds to the reduction of the indebtedness under the Note und this Security -
<br /> Inswment, first w Any del�uent amounts applied in the order provided in PurngrAph 3, �nd then to prepayment of
<br /> principAl. My applkatian o the p�oceeds to the principal sNull not extend or post�ne the due date of the monthly �
<br /> IpaR�2 nf1 pagesl �
<br />
|