|
-"';. (�"
<br /> , � `f1 '"' . - h°c --..
<br /> ...� `_ �_ f- � ' • . . - -—� I - "-- .
<br /> '1'fi�..�,.-
<br /> �• -
<br /> . ' � , '
<br /> ; . . 93- �� �
<br /> i. ��f tri�cNM1.INw+Nt�wt 1.Me C'YefR Satawr+b�d IM4�•w!�dae 11M priscipl Qf,rd ll�wt�a. .
<br /> tM ddn sv by the Nale md IMe ch�dpe wider dN NoM. '
<br /> 1 1N�f6t7 M7��a'h�•1�r+��OIMr Sato�er�hll iaclade in ach mondd iMrmsnf� .
<br /> tosetha wilh�6a principal rs!inlae�t�oe1 Cath in the No1e��r l�a�le ohrrei.�n itwtaqma�t of�ay(���axa�nd
<br /> �pechl�ae+�rnaM�bvied a to be k+►ied M�Intt�he Pra�uy►•(b)MuN�id p�a�ra�nd nau an Ibe I�peety.Md
<br /> (c)pnaaium�fcir inRUr�nco aquired by P��ph 4. :
<br /> . � _-'.,"�, Fach munti�ly i�alxlltnene for itemo (a)� (b)anA(a)ah�11, oqe•twelM ot die�nnual amourtta, as reasonehlY —
<br /> e.�timved by Lctwler. p!ut �n amaurN afYlcknt W m�inWn �a�tlond b�l�noe of act mora tM�n ane•�1ath of the
<br /> e�timNed amounu. Tl�e iWl +imiwl anount for c�ch item du�ll 6��aaimulred by I.ender wlthia.�period etidins ono
<br /> moalh 6efaa an ilan wnuld becane delinquent. t.ender�b�ll bold 1br�rwunt�cdlec�ed in tnut to py item�(�).(b)�nd
<br /> (a)6efae�hcy becoma delinquent.
<br /> It�t uny Ilrao Ute taul of the p�ymenu beld by Leoder far ilert(�).(b)md(e). r wlth Ute fwurc tno�Nhly _
<br /> paymeiMe fur auch Ilem� p�yabk to I.emler prior ro Ihe due dqes d wch items�ea � 6y more th�a aee-:i:�h�he
<br /> eciimRtod amount of p�yment�rcquired topay auch iteme w6en due.a�d U p� on the Note me cuRent,than L�ender
<br /> Ah�ll eflher�efund the excese ove�one•aixth of the e�tim�led p�y�oaaNs a�exoe�over one-aiath of Iha ee�inu�ted
<br /> p�ymcnte to aub�cquent paiymente by Romower.�t tha apioa of BanaMer. N�he tot�l d the p�ymcnu mada by Barower
<br /> f or itam(a>,(b).ar(a)fe inrut�'icient to p�y Ihe item aha�dne.dKa 6onn�ar�Inll p�y ea Lender M►y�n�oint nece�wy w =_
<br /> m�ke up tha delicie�cy on or bafm�e tha d�te the item beoome�dae.
<br /> /1e uRed in lhie Security Imnument."Secneury"meao�We Sec�ty of Hauing�nd Urb�a Davalopma�t a his or her
<br /> deaignee. la�ny yair in wMeh�he I�ende�muRtp�p•morl�e i�uur�.x,�naniwn to�ha Secrd�ry.ac6 monlhly p�yment
<br /> Rh�ll �I�a faclude eitlKr: (i) �n instdlmmt of Ihe anrewl mat�+l�+s inAUtanoe p�amium to be p�id by i,aidrr to t6e
<br /> -- - - -- S�x:r�txry.a(iq a manthly charge i�tead of a mong�ga ba�tanoe�nsmlum if this Security lnatrumenl i+�M:Ik�l+y�he —
<br />- 3oci�etuy. BRCh monthly inaldUnent oi the muAgpge inivau�oe p��rnium dWl be in�n�mount�ufficfent to aocu�a��,Ya'M 4i�
<br /> NII�nnuol mai ga ieaunnce pranium wlth Lender ane ma�N�h�p�o�to the date the WII umual mortgage i�a�urar�ve
<br /> pemium Ee due to+the Secrol�ry;or if�hie Security Insduma�t it held by tl�e 3ecteuuY.e�h monihly charge sh�ll be in an
<br />.,��' • amaunt eqwl w one-twelflh of a�e•hdf peroent of the otu�t►din�prbrci�al b�lance dua on the Note.
<br /> li Bamwer tende�s to Lendtr tUe full p�ymrnt of all wmr�axued by�h1�Secutity I�trumenl.Bortowcrh nccount
<br /> � shal) 6e creditad wilh�he balance rcmaining for all instailmenla far itane(e).(b)and(c) and my morigage �nnsunnce
<br /> 1 p�mium inatallment that Lender h�s not become oblig�tc�l to p�y to tha Saretuy.md l.ender siull promptly retund any
<br /> excxse funde to Bomowe�. Immediptely pr�cK to�fa�losure a�le of td�e Property or ib�cquisi�ion by l.nder.BamwerY
<br /> '���• account ahell be c�edi�ed wilh any bdance remaioiog for all intWlmcuta!or items(�),(b)and(c).
<br /> ' ��'' 3. Appliatbn o�P�ymeqts. All payment�under Par�g�phis i nrrU 2 shdl be�pplied by Lender aA fdlowa:
<br /> ?'' ��,to the mar�gage insurance premium to be pnid by A.e,t�9er 1a the Sec�dary or to the monthly ch�rge by�1►e
<br /> ` �r.r• Secne instcad oi the monthly mortgage inaura��+re�eeiurn;
<br /> t ;:=� ,,,-__ ��,ta any tnxs�.s�eCi�!�s�ts,k��e�ldl�,va+eau or ground�ents,and fLe.flaod and otber hn¢urd —
<br /> �, ��'r•� � iawrance p�emiums.asrcq uircd;
<br /> :�y� ,� �� ���., • . ��,ra�mntercst due u�der Ihe Nate;
<br /> .. � _,.�.,,.� , . ��� �i,io Amatiza�ion of Ihe pdncipal oitho Noh;
<br /> ,:��,,:;;;. .,. .;;;<�,;A �,to late chorgc�a due under Ih�e Note.
<br /> •.�':^��, • '•:�,• �; 1. Fire,F1ood and Oli�er Huard Insur�nce. BoROwer�haU iruuro�II impravements on the Propeny,w6cther nuw
<br /> .-...-- � :��;;�. ' vua�aiste�ce or subaequenUy e�ected.against any hazards,c�swltlea��ad contingenc'res, including fi�e. Fa which Lender --_
<br /> , � �•'�.,; rsquin�inaurance. Thi4 insurance ahall6e maint�ined in Iho�mounts�nd for the pedoda that LencYer requires. Borrower
<br /> `i;'.;; shall also insurc all improvementa an Ihe 1'rc►perty.whether now i�azittence or subsequemly erect�d,agaiaA b�by floods
<br /> �A':�::- , ta the eatent reyuircd by the Secrcary All insurpnce ahall be curied with companies approved by I.ender. The insurance
<br /> , " policies and any rcnew�la sh�ll be held by L,ender and:hall incluAe losa payable clause.c in favor of,and In u form -.
<br /> acre�lotde In,l.ender. _.
<br /> �� � � In Ihe cvcnt ol'I���x. p�xrower sholl give t.ende�immetli�te notice by meil. Lender may make prad of Inwc if na _
<br /> � , � �._�.:,.. . m�ae promMiy ny BoROwe�. F.ach in4urance company canoemal ia hercby aWho�iud and dirceted to make paymenl far =
<br /> �� �� ' �. . , such loc4 direclly lo Lender,ins�ead of to Borrower and to Lender jointly. All or any pan af Ihe insurnnce procerds may be —
<br /> � —=�----��--- appliat i�y l.cncler.al i�s oaion,either(a)to the reductbn of Ihe indeb�edness under Ihe Note and IhiR Securily Instrun�ot, �_
<br />''�!���'�. .° � ��• • firs� to any delinc�uent amounts applied in the order in Nuagraph 3��nd then lo prepayment of principal. or(b) to�he �
<br /> 4� �� " ;' rcsloration or repair of Ihe damaged property. Any application of the proceeds to the princiEwl shall nw eatend or pn�lpone .=,��-,
<br /> 4 ,�:�:.;s��"'�,; � the due dete of the manlhl y pa y men�n which are rcferred ro in Prrs gt�ph 2.or change�he amount oi such payroienis. A�4
<br /> � � "'�.•-;,,�_,;,,,. excess insumnce roceeds over an Amount re uircd lo n �11 aut:tendin inde b te dness un der�he Nnte a n d t his Secu r i�y `}�'''
<br /> P 9 P Y 8 �l�:.
<br /> r ' • ``'::���� Instrument shall be puid to the enti�y legnlly enti�kd�hereto.
<br /> �� � �•�`+' .' • , �.;::�• In the evem of forecloeure of this Securiry Im�rument or other t�ansfer of tiUe to U�e Pmpeny tha� extinguiaheA�he -_�-
<br />'�:.;�•., , ; � �. • ' ''r,.��;;� indebtaM�ess,ail righ�,li�le nnd imercs�af Barrower in and to inaurancepolicies in force shall pes4 to�hc purclmaer. �;�-
<br /> � � ��� �'�1�' S. (kcupancy. Maintenoace andt Protection of the Property; Borrower's Loan IAp�llc�lion; `w�
<br /> ... ' •:�,!-.;�.r,;���:' „ .:•..,, Prese�vallon. < .
<br /> �'•'�,�:>:;:;;"�ti',�� ` . ' I.easehuld�. 8onower shall accupy.estnbligh,and use the Property as Borrowerh p�incipnl recklence wi��in si�ty dnys ���a�
<br /> - � 1�1.1��1.'1.:�)1.� . Y•!�.
<br /> ., .�- •.�. ►'.„, , ' after ihe execulinn of Ihis Securily Ins�rument anJ sholl ronlfnue to occupy the Pmpeny as Bcxmwer!c prinri�n9 rrsidence
<br /> ;' �•.��'� �,;'�' '" . •� • � , for at leus�one year after the clnle of accupancy,unlens the Secrctary determines this requirement will cautce undue hard�fiip ��-t�
<br /> r��� �•' ` for Bom�w�cr. or unle4c extenuating circu�s�arKeR exist which are �beyond Bormwer'� ron�rol. Burmwer s ha l l not i fy .
<br /> �('.ti;.!•�, � � Lemler�of ony extenunling circumatancee. Bormwer shell not comiNt waste or destroy,dnmage or suBsiamially rhange
<br /> �%.' ' � ,; � the Pmperty ur allow Ihe F'mperty to deteriorate,rcasonabk weu end tear excepted. Lender mny inxpect the 1'roperty if the ,
<br /> - > � „ S�rnperty is vacam or abandoned or the lonn is in defaula. Lender may teke realwnuble action lo protect and preserve gurh ;+'.;.
<br /> vucanl ur ebunduned Property. Borrower shnll also'he in deftult if Bortvwer,during the Inan opplfcation prncesa,gnve `�:
<br />•;;;;;;• malerietly falre or inuccuru�e intorma�ion or s�Atements to Lender (or failed to provide Lender with nny ma�erial ��.��
<br />�'�. ,� � � infnrmolinn)in cnnneclian wi�h the loun eviclenced hy the Note,including,but nol limited to,representalions conceming �
<br /> `�x�'� ' � J • Barrower;e occu nne of Ihe Ro n ns n rinri a1 reAidence. If thle Securil In4trument is nn n Iea�ehnld,'r7attoa•cr�hall
<br /> :;;; i• •„�#� ,. P Y (� Y r P Y
<br />�y;'�_.,,,.,. ��,:;;,•., comply wilh the pmv�sions of the IeaQe. 9t Borrnwer acquires ke title to the Propeny,the Maschold and fee ti�9e sholl noi ,
<br /> �°.•�:t��y �•,j•��,""•; be merged unless l.ender ngrcea to Ihe merger in writing. '
<br />�x;' .'r.r:.;.':. �
<br />'.:�r��_'�'. � i,. '
<br /> - ;;,.�,.. ,�r. .;. 6. CharAeri ln HurK+�wer and PrMtcHon ot Lender a Righte(p the Property. Bonowcr shn11 pny nll govcmnunlnl
<br />€;;ii•:': ' or manici�nl char�es,fincq and im�+ositiona that are not included in I�graph 2. Bnrmwer shall pny Ihe�r nhligntiiH�s un
<br />:::�;;'<''f� �ime direclly to �he entUy which ix ow•ed the payment. If fsilure ta pay would adver�ely nffec� Lenderk inlerr.rl in thr ;
<br />: ;`�_11` _�3r;�„�:z�,. - !'�openy.u�oi�Lenderk reyuest Borrow�er thol!prornptly fumish to LencJer receipts evidencing�hese puyments. �
<br />- � It tsormwer iaiis �o maice�nese pnymems ar tne peymenia �aryirui oy Faragrapn �,or iaiis io Eiciiuiiii uiiy uii�ci f••�.
<br /> - ' ' wvenonts enJ egreements con�ained in�his Serurit!v Instrumem,nr there is a legal praceeding�hat may significnnUy nffec� 4-
<br /> . ;� " '• . ' Lenderk righte in Ihe Pn►pehy(such ag a proceeding in�bankruptey.for condemnalion or te enforce Inws or reRulauons), '
<br /> . -� then l.ender ma y do and pa y whatever ic necs�4a ry to protxt the vdue of the Pro p eAy and Lenclerb rights in�he ProprNy, ,
<br /> includfng payment�f taxes,heyard insurance and other items mentioned in P�ragraph 2.
<br /> Any amounts disburxed by Lender undcr�his Parag�aph ahdl baome an additfonal debt of l3nnower and he eecund
<br />�:`�� ''' . � �� by�hi�Sccurity Instrumem. '1'hese amount�ghall t�car interoat from Ihe dale of disburgement,e��he Ni�te rate,and m tl�e .
<br /> " , ,; option of Lencier.shall be immnlfo�ely due and payabfe.
<br /> ;:,,: � �„ 1. CondemnatMn, 'Phe procecds of any award or cleim for dam�ges,direct or consequen�ial,in connec�ion with nny
<br /> -' condemnation or other toking of any pan of the Property.or for conveyance in plere of condemnation,ure herehy as9igneJ
<br /> -���`' •� end sMoll be paid to Lender tv the extent of the NII amount of thc indebkdneas thut rcmainF unpaid undcr the N�►te and�hic
<br /> �'� -' Securiiy Ina�rument. Lender shull apply auch procceds to Ihe reduction oi the indebtedness under the Note ond�his Securiiy
<br /> +� �;`. ' InnlrumeM,Rrat to any delinquent amnunta applied in the order provided in Parngrnph 3. and Ihen to pre�+ayroxn� of
<br /> ��v , .
<br /> • . +: principal. Any application of the pruceeds �o �he pdncipel ahdl not extaxf or pos�pone �he due date�oi ui�e r�eonthly ,
<br /> .. { . 1 p�x•2 nJ1�n�t.t) �
<br /> .
<br /> �:!a:
<br />
|