|
F � M
<br /> ! S . .. .•� � . - . . { - • . ' .` _
<br /> ;:�...•
<br /> .. . :.. . �i . _ _ __ . _ __ . . . __
<br /> • ' . '. . ` —_��-� �s� L _.- _ . " . . . - �-
<br /> Xl�.. � 1
<br /> �I.[. :' �..:. . . '_.. .Z.f : �. ` , _ . : . _. . _ _ _
<br /> Y � � _
<br /> .� . ,. ' " ' 1_ ' � . - .. -' — - � ��I - __ a-:. ' .- . .
<br /> ,.. • ,'�:: " ' ,.,'- v i �-
<br /> - - . __�.ti.+'�ic� . .
<br /> - ' ' _ : :. , _ . . _ . . . _ . � . _ . �
<br /> i 1 _�i - � . , . � - ' � . � • v ` =�T
<br /> - = . . .. . _ . _ ( " ,
<br /> * ' _ . . . . . � l � . , . . ' . .
<br /> _ � . � . t. � , � . ` 91� �a81'77 . . : � _ � `.
<br /> = � . �. e�;�.,�orprr.ar.r,r.�..�i.�ec��B���i��n�a�`���:�a�a,, � � �
<br /> � .the debt ev�denccd by dre Note aad iate c�rges due unde�die Note. . �
<br /> � 2, Matrl�p�nls d 7'au�I��oe ad OtLer(.9wges. Bamwer st�ll iactude iu eub manthlY p�Y�eeM,...., ,
<br /> together wi�h tbe pincipl ard ietenst�s set fatfi iR the I�a�!aa�Iatt chuges.ao 6�taUment of any(s�tuat and '
<br /> � ���kvicd or to be�vi�a�in�dx P�op�y.R+�k�p�y�ts a�ound r�ats�tAe P►vpe�ty.aud
<br /> :s ' (c)Ptrnuwns for iosu�oce taluired bY Pa�agaph 4-
<br /> - F,��t�iy i�lm�fot�taac(a).@)aad(c)�s1�cquai aoo-twelfth of the annual amo�ts.�Ieasooably
<br /> -�� � estinnuod by t.aider. Wus an amounl suff'icient to mtintaia aQ adfimoaai batat�e of aot mae thw ooc siath of tse -
<br /> �ted amounts. 7be full annuat amoant for each itan shzll be accumufated by Leades within a period adin�a�e .
<br /> - . , mo�Nh befo�e�e uem woWd eecome detinqueni. L�ender str�it hold the amouats collected irr mut w pay items(at�(DI aod . � _
<br /> _.° - � tc)befae tbey bocacne delinqueat. : - - _
<br /> s��� if st any time tdt t�ottt oQ tbe Qayme�s ttetd by Lender for itemc ta):fb)aoA(c).wgether witb th�futwt manthty _
<br /> payments far sach itemS�PaY�b�r t�t�d�r PROr w tbe due dates of sucb iums.ea�ceeds by mae th�n oao�tth tt�e� _--
<br /> estuq�ted anaunt of Wymrnt��qumeQ topay sucb ue�s ahea due.a�d if paymarts oa the Note ar+e cuctent.thdi l.ender ----_
<br /> - sha►!either ntimd tbe.eacaeas over ane-si�th of the estimsoed paYmn►ts or cc�edii the exc,ess aver aoe-sizth of the� _--
<br />.-. . P�Y!��t°��4�Pal►��b7+Bomower,at t�e opcioe of Barower. 1f the tap{of tbe.Qayments m�by&xmwer �
<br /> - ;�' fa item(al.(d��'(cT.1s iasafficient w pay the itetr�wt�CR dat.then Bor�nwa shall pvy to 1.ender�atry amamt nxessar�r to. -_
<br /> . m�lca aFthc deficiencY on ar 6efae tlse due the item btcomes due. �_—
<br /> , _ `� As�u�od in►this Savrity Iaswmea�"Secrctary"rr��s the SacraacY of Housing wd Urban Devdopmait or t�is or her - -- .�.
<br /> ,:s�, � d�yig�e. Izt any yeu ia vvfich the l.ender must pay a moctgage insuranee pianiam w tGe Seccetagr.each moruhlY paYmen� _:�:"_�
<br /> � �`-, sbalI AL�co inctada eitlkr: ti)an iastzllmau oF the annual�natga�e iasw�e ps�emi�un to 6e paid by La�det w tbe �`�F~"-`�
<br /> a
<br /> t:`: � mrnt rs ixW bg the .'����
<br />. . _ Soc�w�ry.or(ri}a manthly char�instead of a mortgag�insurdnce pre�ri um if this Security L�spru �
<br /> ` Sec�ary. Fxb montldY instaqment of We mo�tgage inswanee pcemium 5i�ail be in an amount suf�'icient ta acacumutatt the ,.�+�;-
<br /> ... � : full�oauat mactgage insurance pemium with Lender one maath:psior w the due the full aan�al matSaB�ins�uar�c� . t� . .,��.
<br /> nn e �� •
<br /> � shal{6e Ie an
<br /> ; � •. pnetni�un is due m t6e Sarttary:or if this Savrity In�saument is held b�r the Secretary.eac6 mortd�ly charge _ _ �.'•:.;.: -;
<br /> --^�., ' ` arnount oquai to a�t-nveifth of one-half pe�en[of.the outs�andinS Princ�pal6alaace due on t6e Nae.. ` �,,;-
<br /> `` ; � .i f B a m w e r u n d e�s w l.e n d e r 1 h e f u l l p a Y m e n t o f a l l s w n s s a v�b]t c h s s Secud i y Insuumen�Bormwerk account ��'�•'� 'f.
<br /> • �:; ,' s1w11 be credited with ttu balance�emaining far all'instaltments for items 43�::#b)a n d(a)a n d anY�w�t S a B�� h�`�A«_... _ � -_ -
<br /> .�,�. g . . —
<br /> .. preminm instalUnent that Lendes das not becrnne obligated to pay to the Secaet�cy,and Lender sNall prumptiY rrfund any :;r.�,�, �, _-
<br />°° ._ � - eacess fuads co Bcxtower. Immediauly ptiac w a foreclosu�sale of_the. os its ac uisition b Lender,Bortower's . #�'-:�� , _ ,___
<br /> ��" losu Pr.�Y 4 Y t.•:W
<br /> , _�:°�,�_ :��� accamt ahall be caedited with a�ry balance remaining for al!instaltmeau for items.ta),tb)and(c). ,� �' : f .i .
<br /> . �=;.'=' :•. • � Applicatio�.a(Pa'ments. All paymenu under Paragraghs i and 2 shall be applied 6y L.ender as follows: • �
<br /> � 1;:r'� r � . .. r
<br /> , ° ,4'°";"= � �to tbe e insurat�ce prctnium to be paid by l.eader to the Secretary or[o the momhty charge by the ,
<br /> $eaetary n��mornhiy mortgage insurance premtum: . ` . C .`:k
<br /> ±»� . � � . �p,to a�;,taxes,spec?ata5sessmenu.l�sehotd payrnents or gro�d rertts.and fire.flood an�Lad6r�hazard ! ;�`r
<br /> ��p . spe . . .. *:
<br /> ,•� �'�� u�.�cca�sce pcem�vms.as ra►uired; . , � .
<br /> ` _ ..�;.l��<i`t �: � � �.tomterestdueundertheNote; ., • , . � ` ..�€+��
<br /> � ,:f: �,to amortiration of tlte principal of the Note: • � � �;'-'��� .
<br /> ' ' � ,,,c:.��`;`s7� �,to late c*.ar,,res duc�mderthe Note. • . �: : , . , �,S�y�.;
<br /> .. .
<br /> :i,. •- �:'"�' ' �'' 0. �,��A�her N�atd i�ra�e Bo�awecs:�:t insuc�a�3 c..�ptovemena on the Pra�y.wlxthes nua . .�; ;, � . .,F,-, r,�
<br /> %�•.�� �-�-rr�.+_cies.inctudi fue,for wliich Lender ;:�. ; . , .
<br /> ...:,�:_;:- '• ' in e�istence or suL�4^�tlY•erected.a st any haz�ds:casi�:-�i�s.;and , n8 r. _<<. -.:� ;. .
<br /> ' � '� .;�,;::, :,.,.. . ...
<br /> 7 ;, : .�.ti+,�.�.}.;�, / � rtquires insurance. T6is insurance sh I be mainta�ed in thz.a.:�W and zae,�r:peciods that l.ender requires. Baaawer ':. t'•.: ::=:,. .�i, t��'
<br /> � : ::r•�•;��r s1�a11 a'.�a�nsure aA improvements on the Property.whether no�s icn ecistence ar subsequenQy erected,against loss by floods , � �,� � . � • '
<br /> , : :�. . :,�,,,,•;;�.. � .,i• i :
<br /> ' •" r�`., , to tl�e e�eint required by the Secmtary. All insurance shall•6e c�:aci wilh companies approved by Lender. 'ihe insurance i
<br /> � �� � �� poticie�and any renewals shali be held by Lender and shart include lass payabte cfauses in favar of.and in a fortn E . ••� �
<br /> �;, • • . . -� -
<br /> _.� yt,.r�;,� � •, . acceptable to.l.ender. f , . -
<br /> ' .;;:�.:. �' .•� . In thfs event of loss.Batrawer shall give L::�:�'i�:,Pd�ate noace by mail. Lender may make proof of iass if not �
<br /> . � �:'� ': . , �. . ' made pcomptly by Borrawer. Each insurance ca�?�.cy'co�ed is hereby authorized and ditectcd to make payment for ' _ _
<br /> - z..,i�,.,�.,:,
<br /> s , such tass directly to Lender.in.stead of to Borrower astd to E.�:.��ointiy. AIl or any part af the insurance proceeds may be `• �
<br /> ' { '�t�'��`�'� ' applie��y Lender.at its option.either(a)ta the reduction of t���debtedness under the Note and this Secun Instrument, p • -
<br /> :a,' ",.'}4:;r`;!';.,,�. ,.. y • '
<br /> `°;ry.-•.;;:_����F,;c.', fitst to any delinquent amaun�s applied in the��er in Pamgraph 3,and then to prepayment of principal.d oib)�to the j !i,;'.:�.��. ;` _
<br /> ,;, ?���,.;,.•., i.f.•�- restoration or repau of the damaged Qraperty. �%y a�piicatian of the proceeds to the princ�pal shall not esten po tpone , :_
<br /> 'c• ".'';;• • � � the due date of the rnonthly paymen�s wtnch 2ct:r.�-:Tred to in Paragraph 2.ca.-changr the amoum af such payments. Any „ �_
<br /> ., � , .,,..�.,:::-�, . �' .. -
<br /> ;`�'���� ��`. excess insurance pr�zeds ovcr an amnum recY�i�a�!.to pay ap auG+tand�ng;ur�v3tedness under ihe Note and this Security �'
<br /> , .{ Instr.rrrr�*'.�shall be pai�to the entit�tegaUy enu-:ed'thereto. �;�'� '•
<br /> � -:�'' � ' •. �er-�e event of farectasure of this Securiry lnstrument or��;et trar;s.`.r of title to the Pcoperty Ihat extinguishes the ' �; ;:.;�r�
<br /> �` i^.de�',c�3.�;css,a11 right,titte and interest of Boaower in and ta in.wr;i:ce poSicies in force tihall pa+s ta the purchaser. � � . �:. •�,•a:.-=
<br /> �?�� . ' S, Occupaecy,,Preservatbn. Maintenance and Pcat��:r�» of tlse Properly; Borrower's I.oa� App1icalloo: , • ,_ _•�:�
<br /> ` ` ' ' Ltatehqfds. $otsnsrr s6a11 acwpy.establish.:�t�use the Property as Bc+-S�wer's pnncip�al residence�:it��.in s�aty days _ � '{ . .� -
<br /> • �.:�±.' " � � after the exeeution of this 5ecurity tnstrument and yhap cantinue to occuR}+�i;�Prnperty if�BOROKCf ti�d1P,:ipa1 residence , '� . •
<br /> � � '�.�r. ' for at t�ast one year after the date ei occupancy.unte�s the Secretary determ:-+.�.this rcywrement will cause undue hardship •-''� :
<br /> �"''' for Bacmwer. or unless extenu:�ti:-sc circurtistances exirt which are beyond Borrawer�ecntml. Burrower.rhail no�:y � ,•:,,,�:�;,
<br /> • ' �' �,'r.'����'�' l.ende�s of any extenuatino cirar��.�ces. BUtrawer�hall not cummit wa.rte or destruy.d;3�age or sub�tantiaUy cha»ge . tr;,-;}:,
<br /> • • the Ptoperty or alto�:the Property todeteriorate,reasonabfi wrar and tcrr exce ted. LeRdrr�r� ms ct the Pro rt if the � � A'� �'�
<br /> P Y Pe Pe Y 5°c;'�<�
<br /> ' 1� propeAy�s vacant mr zbandoned or the foan is an,3ePauft. Lender may take re�••onabt�a:�:�+to protect and prexerve such •,,., .;,�,'��• .
<br /> vacant or abandoned Property. Horrawer sha13 alku bc in dcfauh if Barrn+..er.3�ring t':e�ioan upplication process.gave ?'� � '��"''�
<br /> � materiall�r faise or inaccurate information ar�:;r.emenis to l.cndcr (ur faiTed ta F�s�,i�3: Lcndcr w�ith :u�y matenal :.'� • . �l,.y �.
<br /> � ; info�anon)in cannection with thc toan c�idz�:ccd by thc N��te,including:but not 1�,7ns•�i'�?�,rcprc�cntations conccmins '! t;,';'.;,. • •
<br /> f Bn�row•er 4 accupancy af the Praperty ati a prinri�aa�etiid�nce. If thic Secunry tn�trutr,���x:iy+Sii;a leatiehold.Boaower sh�7t ';'�:'.':;;�.
<br /> compiy with the provislonr of the tea.�e. If Borra.�er acquire�f�ti�iile ta the Praper�.dic��:i;a:hald:u�d fce title sha11 rtot '
<br /> �,`�ip:;,:
<br /> be merged untess Lender agree�m the mcrger in w eiting. . .
<br /> 6. C6arSes to Bosrawer and prate�.�tioe o[Le'nder'�lti�;hts ln the Propert}�. Bnrru�qcr shall�pay ali govemmrnt�l �, . . .
<br /> ar municipal chsugcs.�nc!.:u�d impositionti that arr not included in Paragraph 2. Butro�c��ahall pay thecc obligatitms un ' .
<br /> + time direcUy ta the entity which iti e+wed the payment. tf iailurc tu pay ��uuld aJ+er�ely affect Lcndcrti intrre�t in�he �
<br /> , PropeRy.upon Lender s requcst 6arrnwcr shat!prompd�fumi.h tu l.endcr r.v:cipt�evidencmg thc�c payments.
<br /> � . ti Barmwer fails to make ihese p�aymen4.ur the p�ynunt+�.yuicc�!!+y Pasa�srh 1,s+s fail.g ia petfvrm�ny��ther :
<br /> '' � cavenants and agreements contained in thi�5rcuri�y In.trumcm.nr Ihen:i�a fegal prnccrding that may.�gnificantly affect i
<br /> . �. � � . � � Lender's righu in the i�roprrty(wch a�:�pr�x:cedin�in 6;uiRruptcy. fur r�nJemnatinn ar ta enfarcc lawti��r mgulati�ms), + - - •
<br /> - � then Lertder m�y do and pay whatever is ncces�,uy tE�pratest ihc valuc of she�p�:ny:�nd l,cnder�ri�ht.in the Property. .. . _
<br /> � _ • : . �� t ineluding payment o!taxes,h�t�tn1 iacurance and�ther item�mrntiuned in Paragra h 2. _
<br /> _
<br /> : -- --- -—� A1iy�lnounts disbntscd iry i.ernier onder thia i'Srugrap�.i�a8 S-�cca�r as�-- '�t 3�:!=i�:t'�ar::x:r ase:3!�c�,csts:s! . -.--- -. .- �. — ; -__- -
<br /> • • � ' by this Security laswmem. The�e amuuntti sha111+car:ntetc�t ftc�m the�te of di�bur�cmnnt.at�he Nute rate.and at tltr ,
<br /> ' : . opUon of Lender,shail be lmmedi;uety due;utdpayal+le. �
<br /> .._ -� �7. CueQemeatlae. 'C�e praceede of:u�y aa:u�i ur cI;►im for damas;c�,dirrct or e�m.cquential,in centnecti�m�vith:utiy
<br /> caidemnation dr other I:iking of any p:ut�f the propeAy.��r for convey:mce in placc uf c�ndcmnatian.;un c�mhy ascigned
<br /> ;�__�_ =�.____. � s�nd shall he gaid to l.e�es tti the catenf ef ttte full:►muunt af the indedtectnus that rctnain�unpaid undcr thr�tutc:uid this _ _ _ ___
<br /> . � � Secutity Instrument. Lender s6:�i apply such pra:eedr•,tq thr tedueiiEm vf ttir indettcQne�s u�Qt�r�h�•�cir�:irt�i this Secu�y ,
<br /> . , Instttcment.-first ta any dclinyuent amuunts applied in thc nrder pruvideif ia ['.ua€r:t�+h ;, :uid then ta pa�payntcnt �•i
<br /> I. 1 : princtpal. Any �pplieution uf the proceeds tn thc principal �hall nnt extend or {+o�tponr �hr �tur date�t the m�inthly
<br /> � , ,
<br /> - - - qver:,-fajw...� - - - : , _,
<br /> ' . k • , : e �
<br /> � . - F . . . ' f . . �.
<br />
|