|
y, �` r1 I� �af�.r-1: • " < . �
<br /> ]'� . , . . � - y
<br /> _ -'f* , '�'.� . ` " { r �'.r:�6.�'rtz�' r .° -''_ . . . - . . ' '• $ ---
<br /> ,`�� �}. r� �._:c r . . . :C� 2 —
<br /> -. .. ,.
<br /> i=i 3, . t�� t �_ -�"
<br /> .: ,, � _ �.
<br /> _. `
<br /> � _--- � �.�� , �
<br /> � __-` �_ , _ — =--- � _
<br /> . . K� .
<br /> , ., . :.. ,
<br /> .�
<br /> - • _ -... . ;s,�, a=" . . ,
<br /> ,� " _ .a.r .:�.;{ . . , , , .: i .. . u .._.......... ... -.: - . . — . — - - -� --
<br /> . �•r,�� y,. •�9,: d n,ri,.s:��=�"�GEiz° -4
<br /> , . `_. , . .. . , . . .
<br />-,�- - . 'i , . . . . . , . . . . . ___ ___ --_
<br />� ��,1�YS�u�,�;�5'y,•c ;y, ` . , � j. . " � • , ... T�� �V���' ' . � ..._�_�_�__._- .
<br /> .t Li� ,A:�i � �.' . . � . .. . ' . � OV�� t . . ' • — --
<br />_ic ,` . .., . . < - : . . . . � 5 ` . " . . --
<br /> - . i. fPa t o�Princtpa�Tnteres!snd Lage Chapge. Dorrower shaU�Y w-�en d+ze the prihctpa!of.aad iat�aest on�
<br /> ...
<br /> '� �`�:.°;;;��v. , : ` �� . . ._ , ti ---
<br /> �..., � the dzbt evideaced 6p s&�Note and iate chasges due�under t�e Nate.
<br />-_ ��;:.:y�:. � ; . 2, M�tN�Pa9meaiie a�'I�:es,�nts�ase aaQ OiheF Chergcs.;S�oirowex shaU inclu�e in each moatfaty p�ymem. ----
<br />_- ti, '�;s� SogetIter wit8 th�principal and interest as set fastb�n the Note and any fate c�a�g�s,asi instaWneni,af ung(a)taxes and , .
<br />_ :���� '`.:``' � spscyal A���,e�ers Itiwied or to t�e te�ied against the Property,tb}2earehhatd payrr:�is or graund zents on the[�roperty.tutd. � �,
<br /> �, rr.`�, ,..;,,,. eaQe
<br /> _;� - --, . �:.��r`.�',;`: (c)ptemiums foi insurence requ�rEd by Pma�ap8�:: . � .� . . � �=__----:_-
<br /> ��,. ��;;;.�` � F,act��onWy instalIment far itsms(a).(�s).uad�c) sttalt eq�a1�ne-nvetfth of the annuai amount4.as Ret�sonzbl� �� -_--
<br /> ;: � '•: � N ' •� � t�j Lender.PWs�n amovni suffliciem ui maineaia an�stdition$16aIa�e of aoi.mare than one-sixth of dte . ..,�a.�-: _--
<br /> _.=�-- _ �c-�Y_... � esdmat e d muouc�t s. '[!ie f u l l a a n n a l a m n u n t f o z e 2�i t e u a a h a l l k e.a c c u m u l a t e d b y L e n d e r w i t h i r►a p e r tod eadin g aas � �
<br /> es'm
<br /> , T • month befoie an item would treoome definquen� Lender sh�l&old the aiauunts mIIected in ttus-t to pay ttem&la�.,(b)ai[dr ��±�,,�,�� _
<br /> ` {c)bafore they�ecnme del'inqnenL � --
<br /> ^ f 4 ,; < 4 If at any ome the taml af the payments hetd by Len�er for items ta}�(b)and(c),wgether witb the future tnoatbly �'"� � �'�°'; `
<br /> ° ' �. . �; ;,i.�i,;:::� " payments for such items payahle to l.eader prior ta the due dates af such items.exceeds by more than me�•sixth the �._^_..QA = —
<br /> _ :':r •-;°��: :.;'".,::`{, estimate�amaant of gayments�quired m pay such items vyhen due.aad if paymen.*s on dte Noae ate cum�t,then IJender =_ ____
<br /> � :, f . . EI! — —-—
<br /> sbaII eitt�er tefimd tLe eacess over one-sixth of the estimated payme�nts or aed�t tt�k:cess over ane-sixth af the eswttated _ _
<br /> �• �,�t; °�:::_, t?�Y��u►.snbse4�eat paYments by Bamower.ai the oprian o€Bomowes. If tAe oaml of the payments made by Sorrower ------- -
<br /> , � ��fa?.(b).or(c)�s msufficient w pay the item whea dne,then Barmwer shal!pay to Lender any amount necessary to
<br /> � ` � �.. . :i�e ap the deficieacy on or befoie the date the item becomes due. �. - _:
<br /> As vsed in this Sec�ttity Insuument,"5eaetery��means the 3ec�etary of Housing and Urban Developmait or his or her �g T ---
<br />� -.:.,��.; ' . designee Itrany year in whicb the Lender must pay a martgage ins�rance pmmium tn the Sea�etary.each mont�Iy payaicati r� _
<br /> - shaU also inclade either: f)an instalUnent of the anaual martgage insurance premium w he paid try Lender to tlte __r=__
<br /> �..r;:�.�." :':;;:• secretary,or Cri)a moiRhly charge instead of a mortgage insu:ance pteminm if this Secunty Insnwnent is heId by the �
<br /> � '`' '' S �ech monthl mstallment of the m e ms�uance mium shall be iu an aruount sufficient tn acsum�t�ste tI� -
<br /> . ;i r��,f '.:�. ec�etazY: Y� P� �xa�, _
<br /> • ' ', �k fWl annuai �patga�ge insur3nce p�miam with�one manth prior w the daie the fiill aanual mortgage a�.s,arpace � a
<br /> �>;_:;;�<<: ` '�� ..,.r:.;` premium is d�u�the Secretary;ar if thi.s Security Lisaument is held by the Secretary,each monthty cdarge.sbali�i�aa ' -
<br /> .`' " ..�:{,, ;".` , amount equal tn oa�twelfth of onefi a l f percent o f t he o�tan d i ng princi p a l b a ls�nce dae on t h e N o t e. '• 'f_--
<br /> .:. ,:.:.. �.. - -
<br />�:� 7:;��;:?�� �' �`%<f - - . . ' .- � - - -- - -- - - -- ..------ -- -
<br /> :y �: _. .
<br /> ;r,;.f�-. . _ ,� If$or�nwer tendeis tfl:Ltnd�cthe.fulLpa�ment.of aIl.svms,.secwed by.Wls_S�itY Insuu?!!ent�Botrower�s account ��-rn:�
<br /> ,.�s�.��/�{��-'� sfiall be ct+edited arith the`frsttimce mmaining for all installments for items(a).(b)azud(c)and any mortgage insarance - ,,,{�,T
<br /> , � ....:-
<br /> remium installment thai Lettder has not 6uome obligated to pay to the_Secnetan►.arvJ Lender shall pmmptiy refuncl a�►Y ��. f _
<br /> L� � `�
<br /> sd,'�.`�.��� ;" `�. . P. ,a,`''- '
<br /> ' :�� �r:.:: ., _� �::. exeess funds to Botrawer. Imaiediately grior w a foreclasuie saie of the Ptoperty or its aoquisitian by Lender.Borrower� s���
<br /> ��:�`,• aeeount shsll be cc�edited with any balauce remaining for all installments for itezns(a),N)and(�). • �`-•�"'`�;:.
<br /> ��. ���``_ 3 A ltratton of Aayaeeats. All payments under Faragraphs I and 2 shall be applied by Lend�r.as fallows: . ' F •.; �
<br /> d
<br /> ���•�� � • �5 to the mortgage.i�suTaace pnetruum to be paid by Lender to the Secretaay or to the monthly charge by the '�
<br /> . �'"3' � ' ,y v
<br /> �t• • _ S e c i e t a r y i n s t e a d o f t h e i n o a t h l y m o rt g a g e i n s w a a►a e p�e rt uum;. .?!?'��`"
<br /> - �j� �`� • ' , SF ,to any taaes�special assessments,leasel,�TFa payments or ground rents,arcd fu�e,ttood and other hazard ���°°-
<br /> :`��1�', mi as c�eq � � f�-� �
<br />_.��:' ` . �11�tetesf due und dte DIai�` . '.`;4� �'F=,: .
<br /> :;;r" , .,ir�amartization of the rii5a��!of the Note; ....- • �' �`;f�'�,r• ,;.
<br /> ,��'� ,,;'�,.: ;� � �� P . . .... . `
<br />�`%' ;t'64#•' �F�t{"�r 'ts3e charges dae under the�tiote. � ,.• � ' `• .� .�^��
<br /> -� .. � a,- .
<br /> �; `: ``,.; , . 4. Tr��.:�vod and[Et�i+2�r Karard Ym'surance. Boaower shall insiue all improvements o�s�:.?ioperty,whetlter now �,�t�. ,
<br /> , ��;�
<br /> _ ;` ;;:'.E�;�%k����.:` ,•.•; • �;r`:��%
<br /> �,�} ,�,;, m�-�;:q"sa�bsequet,;.t���i��:ted,against any ha�r8:r, cacuaities,and wntingencies,includi*�g fire.for which I.endes ,_��f � ,
<br />;;t' •�•.'y�5i:;�+>'. ce�.�zs,i�=.�. Ttns iz�n:ra,.oe shall�e mainta�ned��t1'reamo�ts and for the periods thai Le�,�errequices. Borrower ;•:.�tiq�;�`:� ,5
<br /> ��;: -�% �,�'� '� s►suTL 7*s��rs+in:�l improvements on t&e•L�,�erty,whether_pow in existence or subsequendy.Q�:against lass by floods. _ �-r :
<br />_ .�,. . �,:�,•rf,....., _ . .,;y.
<br /> . to t2�.e ext�rci�+-�ied bY the 5ectetary.���1]'iirsarance s�:�t 5e cattier3 with wmpanies approved li�'Lender. The insorance � . , : ,�;.
<br /> '�����''�'� �.*.�'icies and�y renewals shall be hes4:�3:�ender�ad ��il ittti�ni� toss payable ciauses in �✓or of,and in a foan ':•;-..>' :`•::±;`~
<br /> ��/;3?': . � , . . ; .. • . ., 'i
<br /> •�,:'fr"s acc�'table to,Lender. . `��.�'r�:,.;�r,:'�.� .
<br /> :�}��"��,F;�.� �n the event of loss.Borrower shail g:ve Lender i�cm,iii�L:nodce by mail. Lender may make proof o��rs if not '-y�5,�,;<,;: . �:� 1�
<br /> ,,,,....,-.
<br /> ' ��:F%i•r•.. ��rr b Borrower. Each insur��.com an ra:tcer.ted is hereb authorized and directed to make payr�ent for ,'�v�zS �. °����'�.�_
<br /> . � . c�r'.�.�"' -�}., y P Y Y .�.;.
<br /> � � �•;,I�Ccr{r din�i;�ro Lender.instead of ta l3�trower and to Lender jointiy. All ar any part of the insarance pro¢eeds may be � ''�r,�'`��`°
<br /> . •_� �� agg�ed Us;�s�i�r,at its option.either(a)in'the reduction of the indebtedness under the Note and dtis Secunty Instrumen� �"� . � '"��"
<br /> ,• ` � ...- -
<br /> �; ' ',. , � � .� �to a,.7= i��lim uent amc.tints a lie�ic iu t#ie order in Paia h 3.acsd then to re a ment af riaci al,or(b)to the : . `�«'"` ,��
<br /> ` �,`::'j;�`� . _. . P P Y, P P '..'•.'` �*�;`"
<br /> � 1�. , •q �;e�atrat�i��a�'v of the�3�-�ge.�d p:opeRy. Ar►y applicatio oft he pruceeds to tite prins�at stialt t�,ot extend or postpone � , . ;<.,.t�;:eFC.:�. �;�:'��=
<br /> �" '*"SFf �due�a:e.ef the monthlw aments whuh are referred to in Para h 2,or chan .si�.�vau�:.of such payments. Any ���)F���.:,�,.;;;• �� <
<br /> y�: �;sf�:.;: r�.": 8�P F'. ' r• �� r...
<br /> , , e�cess,�,s:��,:;ce proceeds`u,s;r an amount requ'ired to pay all outstanding indebtedness uade.*cIx Note and ttiis Security '�� " -
<br /> ' '. �d�is�,,nz����ss.�be paid to the entiry[e�.tt�entiQed thereto. � •'�.'��'�`,. ''�•�: :�'
<br /> • � ' ;n ti.�,e�c�'nt of forectosu�of thic�rity lnstrument or other transfer of titte to the Pnr�cty that extinguishes the � ' '.',.:.'. -: �`4�:��,'�
<br /> .. -,' �a�e�5edces.,.all righb title and interest c,t`Brnrower in and to insurance policies in fotce shaU ph5sta the purchaser. ' �`:!t��
<br /> �• ' 3. Oecupaacy, Preservation, AFri�2enance and Protection of the Properiy; Borrower's Loan AppliratEon; �� _ , ':;,�, ;�° ,7� :•� �.''•�°`"
<br /> ' , �seholds Bonower shall occupy.�iish.and we the Propetty as Borrowers pnncipal residence within s�aty days �;`.�;j��.i� ' .
<br /> •�t : , . '. • �ti�er the execution of this Security Insuts_�ent and shal!cominue to occupy the Property as Borrower's principal residence �:�t�Y;;,��•• •
<br /> • ••� . • � far at teast one year after the date of oa:upancy.unless the Secretary determ�nes this requiremeat will cause undue hardship ,
<br /> .: ' : .� for Borrov►er. or unless eatenua6ng c'rn�u:rstances eaist which ar�heyond Borro+cer's conirol. Borrower shall notify • �
<br /> �:; Lendeis of a� eatenuating circumstatu:�. Bonower shall not commct waste or destroy,damage ur substantially change `� f
<br /> ::;�;:':,;�;�;��'i; ` , the Property ar allow the Property to d�:tt.�iarate,reasanable w•eaz and tear excepted. Lender may mspect the Pfroperty if the ;:.:•, . . •
<br /> ` c'.<':, �:'+:• ' Ptoperty is vacant or abandoned or the l�an ic in default. Lender may taEce reasoRable action to protect and preserve such '. :.'_ , � . .
<br /> • ;•..,�.�;.s:::.. _•,�:.:>.;. :
<br /> i,,,,..
<br />_ .,.�;,; ;,,,,,. � vucant or a ban don e d P ro p e rt y. Borrower s h a l l also be in default i'Botroa•er,duria g the loan a p plication process,gave �;;�;,t>,;,t+ ' �•. ... .
<br /> � materially fafse ar inaccurate mfortnativa or statements to Lertder (or failed to provide Lender with any matenal '-,:ti;;;`,�%' " , :
<br /> �� ' • � � information►ue connection with the loan evidenced by the Note,indudins.but not limited to,represenwtions conceming ' ^ `.,,f��-.�:, '
<br /> ' f Bamower's occupuncy of the Roperty ai a pdncipal residence. If this Security Instrument is on a teasehald.Borrower shal! � �;�r:+':<�;,
<br /> compty with the prowsians of the leace. lf Borrower acquins fee title ta the Property,the le�eh�ld and fee title shall nat :: �';•.:;1:'„'•`
<br /> � . � be merged unless Lendet agrees ta ihe merger in writin�. � •.i�r �:�'��
<br /> � ' 6. C6arges to Borroner and ProtecNoa of Lender's Rights in Ihe Properiv Burrower�hall pay all gavernmental .
<br /> , . � or municipal chatges,fines and impositions that are nm included in Wsmgraph L Borrower shall pay these ob6gations on •
<br /> . � time direcUy to the entity which is o�ved the QaymeN. lf failurc to pay w•outd adr•er.sely affect Lender's interest in the �
<br /> ; Property.upon Lender's tequcst Borroa•er shall promptty fumish to Lendcr receipis evidencing�hese payments.
<br /> ' ��:.`; . If Bonower fails to mahe these paymenes or the pa}ments required by Paragmph 2.or fails to perform any other � �
<br /> � covenants and agreements contained in this Security fnstniment,or there is a leg;sl ptoceeding that may s�gmficantly affect .
<br /> ;4, `.�`��:,,;. - i.ender's righu in the Property{sush a.c a praceeding in bankruptcy.for randemrtation or to enforce laws or mgulations).
<br /> �` - ,.,. then Lender may do and pay whatever is rtecessary ta protecl the value of the Progerq•and Lender's tights in the Ptoperty.,
<br /> ` inefuding payment of taxes,har.ard insurance and nther items mentioned in Paragraph 2.
<br /> � �' � ' My amounts disbursed by L.eader under this P�ragraph shall hecomo an additional debt of Botrower and be secured f � •
<br /> . �: :,I� • . " : � - by this Security inswment. 7fiese amounts shall bear intenst from the date of di�bunement.a1 the Note rate,and a1 the k � ; ,,`
<br /> � • , ' apuon of Lender.shall be immediately due and payable. } .
<br /> • 7. Coademnation. 71�e proceeds of any award or cl:rim fur damages,direct or consequenti�l.in cunnertion�vith any
<br /> - eondemriation or other taking of any palt of the Property.or for conveyance in pl�re of condemnation,am hem6y assi�ned ! • `. •
<br /> � 'r � � �' and shall be paid to l.ender to the extem of the full amount of the indebtedness that mmains unpaiA under the Note and thls ��
<br /> �,� ' •�• : • Securtry Inswment. Lender shall apply such proceeds to the reduction of the indebtedness under the Note and this Security
<br />- -,. " _-�'-�_--- in���t'ier..i!a 3ssy det'ssts}teeat.amnunts�lied ia tEte ardcr pmvirfeA in Paragr�pb 3.nnd thea to prepayment of � ..... _ .._
<br /> '����' ' •;� _.�� ptincipttl. Any appl�ratton of the proceeds tu the principal shall not extend or postpone the du� date of the monthly `� � . ,
<br /> -' i
<br /> �� , � 'i
<br /> � .,:� .
<br /> �� lyv�qe 2�f 4�+,rEes� �
<br /> , �-- — --_--
<br /> , .
<br /> .
<br /> ..{_ _
<br />
|