|
.�:'` _ _-��.�N' 'r / •,_ -__
<br /> � • .._.
<br /> ..___. .___.....
<br /> . ... � .�::Ki ���'_��.l2`_.__- _.. _ .-_ . _ . .... .
<br /> .-__�� .�rr • � � •..
<br /> - g3• ���
<br /> 't'he Fund� �E�II be heW in an inuitutian wM�e dcpait�ue inwrod by A federal yency. inct�umn+rsalUy. ar aulty
<br /> (includina L.ender.If Londer i�wch an inctitutian)ar in pny Naknl Home Loan B�nk.Lender�iu�l1 xpply the Fund�w p�y she
<br /> , Fscrow Item�.L�ender m�y not chu�a Borrower fw haldin��nd Applyln�tho Fualr�annually a�ulyzln�tho ac►aw�ccount�or
<br /> verifyin�Ihe R�craw Itemr.unlew L,ender p�ys Borrowcr it�+t on the Funde�t�d licablo I�w pemdts l.ender w aitka�ncfi
<br /> �cha[Se. How+evor.L,a�der m�yroq uiro Borrowtr w p�y a one-time char�e tor an i�dan rcal atate wc reporti��rvioe
<br /> uaedby i�ooda� ln connectlan wllb this lo�n, unlaa �pplirAble law pmvidcs aharwirw. Unleu �n ayr+eattent is made or
<br /> �ppliqblo I�w eaquitra interat to be p�id.Lerber�II nut be requli+od w pay Bormwer any intorat or eomin �on the Pund�►.
<br /> Bote�nwer and l.endor may aQroc in wrltia . however. ttiat intereu shdi bc pAid on tho Fundr. L,ender�tal1 Q�vo to Ao►rawCr.
<br /> wiU�aut charsa. an annwd �ocourMin�of�Funde. siwwing cnadits aed debit+�to tbe Fund�ud the ptupae fur wtilch ach
<br /> deWt to the FandA was mde.The Funds sro pladged u�additionnl cxurity for dl wrtus e.curod by�hig.�ret!�+sy Inetrument.
<br /> - _ ----� If tbe Funds huld by Len�ler exc�d the wmunts pennittai w bc heid by uppIkuhlo law. Lcoder chal!uccount to Barrower
<br /> for the exeess Funde ie apoordar�co wi�h ther�quirements of applfcable IAw. If tho wmount of Ihe Fpnda held by lrender at any
<br /> Hme is not a�ilioient w pAy tha E.'scn�w ItemR wban due.Lender may so notify Borrower!n wdting,and.in au�h case Barrower
<br /> --- elwll pay�o Le�wtor tha amount necas�ry w mwke up the doficiency. Borrowar shWl nwke up the deticiency in no mo��han
<br /> twelve monthly psymenta,at Lendar's sole discrction.
<br /> _ ---- � Upon payment in Ibll of all gums srcurrd by this Secu�ity lnstniment, Lender Rhnll pmmptly oefund to Bncmwu Any
<br /> Funds held by Lender.If,under paragraph 21. Lender shall acqulre or sell the Propeny.L.endes.�rior ta the acqaisition or sale
<br /> -- ------- of thop�,�p�rty.ehall apply any Funds held by Lender at the time of acquisition or cale as a credit ag�inst tbe sums aeiuml by
<br /> - this Securfty inswmant.
<br />-- 3.AppBcAtbp of!'�yments.Unless ppplicublc law provides atherwi�a.All paymenl.v recaived by I.ender under paragraphs
<br /> _ I and 2 shall bo appliad: first,to any prepayment chargea dua unde�the Note; xecond,to emounts payable uMer paragraph 2;
<br /> '�"— tdird,to interest due;fourth.to principa!due;and lasc.to uny lata charges due under the Nate.
<br /> - 4.ChArges;Lir,tt�.&�rrower ahal! pay all tazes.acsessments, chsvges. fines end impositions attdbutable to the Property
<br /> _�'''��; which may anajn priorfty over this Socurity Instrument. and leasehald paymenta ar ground rentv, if any. Borrower shall pay
<br /> .�? � these obligations in the manner provided in paragraph 2,or if not paid in that manner.Borrower shall pay them on time directly
<br /> .;.,,;`,;'� tu the person owod payment.Aorrower shalt promptly fumiah lo Lemler ail nu�i��uf w�wunts to be paid under this para�rnph. -
<br />'�;;{,��•, If&urower makes these payments dinxtly,Honower shall prompdy fumish to Lende�receipts evidencing the payments.
<br />-,,,;;.�`��,, Borrower shull promptly discharge any lien which has p�iorry over this Security Instrumenl unless Borrower:(a)agrees in -
<br />�,:'s''. ; writing to the payment of the obligetion secured by the livn in a manner accepta�le to Lender;(b)contests in good faith the lien �
<br />''•��"'�• � � by. or defends against enforcement of tha lien �n, legal proceediogs which in the L.ender's opinion opernte to prevent the
<br />-;�;�,:��� „�.,;�, • '� enforcement of the lien; ar(c)secures from the holder of the lien un agreement satisfactory to Lender subordinating the lien to
<br />'� ,'..�: �:.:.. :,.<< •.,.
<br /> :�,:��,� - �i�;;� this Secu�ily lnstrument. If I.ender determines that any pen of the Prope�ty ia subject to a lien which may attaln prio�ity over
<br />:�.s�`�r��► �e�:������ :,�� this Secudry Instrument, l.ender may give Barrower a natice identifying the licn. Borrower shall satisfy the lien or teke one or
<br /> �,;5...�...Y.,,�,�! more of the actions set forth above within 10 days of the giving of naticc.
<br /> ''�'�:. ' '' S. Hn�ard ar Property Inauranee. &��rower shall keep the improvements now exis�ing or hereafter erected on the
<br /> � '"��:�'" '��'' Property insurcd against loss by fire,hazardF included within the term "extended covernge" and eny other haxards, including
<br /> '�'•` "� ��'"�`"''� -�� tloods or ftooding. for which Lender requires insurunce.This insura�ue shall be maintaine.i in the amounts and fa�the periods
<br /> .::r':•i 4.'�r.h.. ..,�:si..•
<br /> _,1;;..:.; - .� _ :�,,��� that I.ender requires. The insuru�ue carcier providing the insurance shali be chosen by Borrawer subJect�o I.ender's approval
<br /> - . which �iiali nui ba unreu.wnabiy wilhheid. Ii 8orruwer faiia iu uw;�tt�i�� COYiiBgZ�25Ci;� &�OVC, Letidcr t:�ay. ai Lcadci s
<br /> � � option,obtain rnverage to protect Lcnder's rights in the Property in ac��rdancc wlth pazagraph 7.
<br /> �', � ' All insurance policies and renewals shall be acceptubte to t.ender and shall include a stondard mortgage elause. L.e,nder
<br />� '•,r: , . ., ... �hall have the right to hold the pnlicies and renewal�. If Lender requires.Borrower shall prompUy give to Lender all receipts of
<br /> ��'��''; :� .,� •,. ` paid premiums und renewal naicex. In thc evern af loss,Horrower shall give prompt notice ro the insurance carrler and l.er,der.
<br /> '""` ^�'.''; l.ender may matce proof of loss if not mudc pramptly by Barrower.
<br />�!';�`�..; • .. -_
<br /> Unless Lender and Borrower otherwise ugree in wri�ing,insurance proceeds shull be applied ta restoratian or repair of the _
<br /> r:�.- " ' � " �r� Proparty damnged, if the restorotiun or repair is economicu�iy fcasible nnd Lender's recurity�s not Iessened. If the restor�tion or =
<br /> ., ... _
<br /> , „ p, repair is not economicully feusiblo or L.ender's security wauld be lessened,the insuranre procaxls shnll be applied to the su�s
<br /> , • '� secured by this Sccurity Inslrumrnt, whether ar not then due, wEth uny excess pnid to Borrower. If Borrower abandons the =
<br /> �,u�,:..:
<br /> _-.;��, ' Property,or does not pnswer within 30 days u notice fmm l.ender that the insurnnce camer hac oifered to settle a cluim,�hen
<br /> , � '' Lendar may rnllcct thc insw�unrc pnxeeds. l.ender muy usc thc prceeeds t�► reQuir or restore the. Propetty or to pay sums
<br /> �' ' �.- ' secured by thiti Security Instrument, whether or not then due.The 30-duy perial will begin when the�x►lice is given.
<br /> � ' Unless Lender und B�innwer iithcrwisc agree in writing, any upplicution ol'praeeeds to principal shall not eatend or _
<br /> ' '• ' `"` postpar�:. :.".;, �s: dst�of thc r.u:stth:�pw�mcnis refcrrcd to in paragraphs 1 and 2 ar change the amount nF the pstyments. If __
<br /> �� r "' under parugruph 21 the Pruperty is ucquired by l.ender. Borrowcr'ti right to�ny in.urunce policies ttnd proceeds msulting Gom
<br />�• •. : � " dernage to�he Propcny prior�o thc s�cquisi�inn xhull pu+s to L.ender to the eztent ol'the aums secured by this Secu�ity Instrument
<br />';�j;-;, `. , • ' immediately priar tu thc suquisi�ic►n.
<br /> +��� a. , . • 6.Orcupancy.1'rerservalion,M�intensmce and Protection oF the Property; Burn�wrr'x Lonn Appllcation;I.eaxehald�.
<br /> , • Borrowcr shall ucrupy,estublish,anJ usc thr PniFxny u.&�rmwcr'�prinripul rc.idcnre witbin sixty duys ofter the executian of _
<br /> -' _ this Security Instrument wxl shall cun�inuc tu�xcupy tlir Pruperty a,Burrower's principal residencc for at Icast onc ycar after -
<br />- the date of occupuncy,unles+Lenikr ntherwise agreeti in writing, which consent tihull not be unreasonably withheld, or unless `
<br /> � ' extenuating circumrtunres exi�t whi��h arc Ix:yond &�rrawer'� control. &irmacr tihull n�it Je�tniy, damage or impuir the _
<br /> ';' Property, ullow the Property to dctcri��ru�e, or c��mmit N•u��c��n the Property. &►rrowcr .hull he in default if any forfeiturc
<br /> � ��,�y action or procceding, whether civil ar criminal,is bcgun thu� in LenJer'�g�rd tuith judgment r��old result in forfeiture��f the
<br />,;. . Property or othcrwise ma�eriully impuir the lien rnated by thi�Security Ins�rumem o�Lender'.xecurity interest. Borrower may
<br /> ;� ' � ��� ' cure such u defuult unJ rcin,ta�e, as providal in pur.�graph 18,hy r•rusing the actiun ar pnxeeJing to be dismissed with u ruting
<br /> -t �` � � thet, in l.endcr'. gaxl fAith detcrminati�m. pntiluJr+ ti►rfriwrc of the &�rn�wrr'� intrrc.t in Ihc Praperty�r other ma�erial =
<br /> ��r impairment of the licn crcated by this Security Imtrumrnt or Lrndcr's .ccuriry imrrc�t. &irrc�wcr ,hall alu� be in default if
<br /> l ; �. • „ Bnrrower.Juring the luun appliralion prorc��. �:avc materially I'vl,c or inuccuratc infurniution ar�tatcmentr tn l.ender(ix i'uilcd
<br />_= � � �o prx>viJe Lender with any muierial infi�rmationl in rumx��iun�eiih tlie I�ian cvidencal by tlx:Notc, incluJing.bu� not limited `
<br /> .� • � to. represrntalinns conrerning Bi�rmwcr'+ixcupanr�•of the Pruprny a.u princip:►) rc+iJcnr�. If thi+ S�xuri�y In.trumenl is un a t
<br /> , � 4 leuseh�ld. BorrowCr shull comply H•ilh uU the pnn•i�iun. u( th� Iw.�. If &�rr�n�rr nryuirc. 1'cr IiUe li� the Pr��prny. tlu �
<br />-_ + �. , lea.eehold and the 1'��e�idr,hull nut mcr�te unlc�+LenJcr ugr��c.r tu thr mcr�!er in writing. �
<br /> . ; ' . 7.Proteetion of Lender's Ri�his in the Prnpert�•.If Borraaer faih m perform the covenunts and agreements contuinal in
<br /> �'<.�;, � . '; Ihis Security Instrumcnt, or thcrc is a Icga! pr<xccJing thut may �ignituaoUy atYrrt LcnJcr'>righcs in ihc Propeny (such ati s� `
<br /> -�.`�.'�i: �' � �`� proceetling in bankruptcy, probate, f'ur r�indenmution c►r tirrl'citurc or a�entiuce law+�ir reFulation�). �hen Lender muy Jo anJ �
<br /> , ��`,;t�!. � ,., _
<br /> ..��, • {�y;,,;'. •,.�;;,�. pay fiir whutever is nereasury t�� pr��lect tlk voluc��f the Pr�ipchy a�xt L.cnder's righ�x in thc Property. I.ender's ucliom may �.
<br /> i;�•, ,�;r'� include a in an sums securcd h a lien ��•hich ha. rurrit ���er thi. Sixuri� In+trwnem, a arin in rnurt, p in
<br /> -..�,1�.., :;� ���. ._:.,'...,:s . p Y F Y Y p � Y Y pFx' � P Y L� -
<br />— ��:��, `±�;;;�j����eris�,�,�y_ � reasonable attorneys'fces and emcring on ihc Pmperty ai mukc rep�in. Al�h�wgh Lcndcr muy tuke artion under this purugraph s_
<br /> � . , . .. . i. Lemior ucx�s noi neve to cio so.
<br /> �" r:�t *• •�, � '�� Any amounls disburs�*J by Lcnder undcr this purugraph 7 +hall txrom� aJJitianul drbt uf Borrower secur��l b�� thi� i
<br /> ::,'��' ..�'y�'�, � . ' Securily Instrument. Unlc�s &►rrowcr and Latxlcr ugrcr 1u uther tcrnu af puymrn�. the�c amaunt.chall h;ar i n;:�rc�t f'rum thc
<br /> Mr-,� 'F'+�, " date of disbursement at �hc Notr r�tc und �hall Nc p•ryuble, with intcre+t, uam notice from Lrn�lrr w B�xrrower rcyue,tin�; t
<br /> •.,:�.,tr. .._.,> . paYment. E
<br /> �� � 8.Mortg�e lnsurance.If l.ender r��yuir��l nwttgvgr imur�uc�a.a canJiti�►n�►I'm:iking�he lonn s��:un�i hp�hi,Sccurity !.
<br /> �'" Instrumcnt, Borrower sh�ll pay the prcmium. rryuir��l a► muint•rin the nxirtg�gr irmurance in efl'�rt. If, iiir any rca�on, �hc �
<br /> •t;t;' " �_ mortgage insurance coveruge reyuir��l by l.encier lupse+or ceaK+tu bc in et'litit, &►rrowcr shull pay �hr promium+ �yuin�J to �
<br /> � :' � nbtain coveruge xubstuntially eyuivulenl lu Ihc mungugc in.urunrc p�vi�w�ly in rl'tcct,ut u ru.t ,uh�tuntially cyuivulcn� to thr
<br />` � •• rnst to Bormwer of the monguge insuram�c previ�wsly in effi�ct, tmm un ultcrnutc nwrtgs�ge imurer approv��l by I.cn�icr. If
<br /> ,�. � �. .
<br /> � .
<br /> _.•.,;Z.. .i ' .
<br /> „ , , v�.a��� Fam 3028 9l�0
<br /> --- - - — . _ . . .. - --.
<br /> ��1:. _ .-,--------------„--•- �-�s------- _ -_�,-----=� -- - - -�------
<br />
|