|
,� . . .. ...� ,(� � ,�Jyf��. j`�{�; ,`�,� r� 6 ���;y .,{: �,
<br /> _ ' • . �il'�I ,A�' I F`�5 ;f l 4/. .� '_
<br /> � p P544 s"��j�' '�I "���'4��-�� �� �j-�; _
<br /> �' `.� I '�:�� ,-i;f. , _.. _._ _ .__ . . _ .. . _ . _ � ' ..
<br /> - � C":
<br /> w.e��` —.—
<br /> _.___'_ ... .___ .. '_ _
<br /> 9�-� i�:��t�
<br /> Ti�o Fi�nds shall be held In an institudptt whosa deposits n�e insured by n fedrral Agency. Instrncr►entality. ur ent�ty
<br /> '�"''°°'ry'�""x° (hicludi»g I.e�xler.if I.eixicr fs such a��in�t�tut�an)or in wry F�dcral Homc I.aan Bunk.Lcndcr sl�all ap�1y the runds ta pay the
<br /> ._ _— _ Escrow Iteras.Lendcr may ttot char�8osrower for 8oldim and applying die Funds,annually unalyting the escrovr nocount, or
<br /> verifytng the Sscmw Itecns�uNess Lender pays Horrowcr intorest on the Funds and�pplicable.lww perailt�Le�xter to n�kc such
<br /> a chacge.However,Gender may requiro Borrowcr to pay s one•time chargo for An inde�endent nal est4ta tax reporting�sCrvico
<br /> usod by Lender in cunnxtiop wtth thie loan. unlc�s applisx►ble luw prov[d�s otherwise. Untess un ugrament is rrude or
<br /> eppitcable law requires interest to be patd.Leader shnll not be requirod to pay Borrower any intcrest or exmi�lg�on the Fw�di.
<br /> Bomuwer su�d Lender cnay np,ree in writing,howevcr,thnt intenst shall be paid on tha Funda.Leudcr shail give co BarmWer.
<br /> ---- - T-' vihhout charge. an annual accounting of the F�uxts. ehowing crtdits erxl debita to the�ui►da aKl ti�e Nucaose for witiici�w::l► °
<br /> debit to the Funds was made.The Fw�ds are pledgai as addidonal security for ap sums sccurod by thia Secu�ity Insmunent.
<br /> If We Fuads held by Ixt�der excad We amounts permittcd w be held by applicable law. Lcnder shall account to Boimt�ver
<br /> for the exass Funds in accordanto with the requ[raments of applicable tuw. If the umount of the Funds held by L,endcr at any
<br /> _� titrre is nat suffccient ta pay tho Escrow Iteins when due,I.ender may so notify Borrower in wrltin�.end.in euab case Horrower
<br /> __ shail pay w Lertder the amount necessary w make up tho deficiency.Borrower shull make up tho doSclancy in no more than
<br />__= twelve monthly puymenta.at I.endcr's sole eiiscntlon.
<br /> = U�n paya�ent ia full of nll sums secured by this Secnrtty Insmunent. Lecxler si�al! promptly refund to$ortower any --
<br />-° Fuads held by i.ender.If.under paragtaph 21. Lender shal!acqutre or sell the Property.Lendcr.prIor to tho avquisitioa or sale
<br />- of dte Pr�perty.shall apply any Funds held by Lender at tha tirae of acquisitIon or 3ale us u credit against the swns secured by
<br /> f�! thls Securlty Instrument.
<br /> r 3.Appl[catlop of Payments.Unless applicxble law provides otherwise.all paym:nts received by Lendcr under paragtapfis
<br /> ,,, i and 2 shall be applied:Hrst.m ar+5+prepaYment charges due under the Note;stxa��.W amounts payuble under paragraph 2;
<br /> thic+d,to intorest due;fourttt.w pdnci�rdl due;and last.w any late char��due undet thA Nato.
<br /> A.Charges;Lleas. Bamower shaU pay atl taices,assQSSments,charges.fiaes an�i impasitlons auributable w the Pmperty
<br /> whlch may attatn prtoriry over this Serwity Instcument.and learedold payments or gtound tents, if any.Barrower sl�ull pay �
<br /> these obligations in the manner pmvided in paragmph 2.ar if not paId in that manner.Borrower shall pay them on tiu�e directly
<br /> co t6�e�Secsnn owed payment.Borrower shall psomptly fumisb to Leader all notias of��.mounts to be paid under this pamgreph.
<br /> If iiarrower rnakes these payments directly.Horrower shaU pivmptly furnish to I.sndur raceipts evidencing the paymenzs..
<br /> " Bo.rrower shail pmmpdy dtsc.harge any IIen which has priority uver this Secnrihe•lnscturaent unless Bocmwer.(t►�j�Rn�s in
<br /> wrltIng to the payment of the obtigation secured by the lien in u manner aoce}�t�bl�tn.lce�atier;(b)contests in good fai'tfi tha Hen
<br /> by. or defends against enforaEment of the lien in. lesal proceedings wh�s�,�in�tha Lender's opinton operatc w prevent tl�e
<br /> enforcement of the lien;or(c)secures from the holder of the[ien an ugrae;nanl�satis�'t�rnl ta I.ender suboedinating the lien to
<br /> ..,,,.:, ' this Security Iacuument. If Lender determines that any part of the Property•is subj�ct•ta,ta.lier� which may attain priority over
<br /> '�����' this Security Instnunem.Leader may give Borrowor a notice identifyin�the lien,Bormti�vr shall satlsfy the lIen ar take one or
<br /> , .
<br /> mone of the act[ons set forth above withln 10 duys of the giving of nodoe.
<br />_, S. Hezord or Property Insur�utcP. Bornower shell keep the improvem¢�tv naw exietin or hereafter erected on the
<br /> �_ ' � Property insu�+ed agatnst ioss by 6re.hazards included withln the tertn•"axt�natEd•covoqng�" ax��any other hazards, including
<br /> � fl4ods or flooding,for which Lender requtres insurance.This insurance sha!l�bt mam3mrad�imtt►a amouncs end for ti�e periocis = -
<br /> � ��,�K�'• diat Lender requires. 'fAe insurance carrler providing tl�e nnsurance shall�be chmsen.by�•Hnmrnv�:r subject to Lender's approval �
<br /> ��'`�+�� `*��- which sha�� not be unreasonably withheld. Yf Boreuwer fads to malntain covera e descrih*_d Qbove. I.ender may,,at Lender's =_
<br /> ��,�.���:(�et�, .
<br /> � �.�;i opuom,obtain coverage to protect Lender's��hts in the Pro rty in accordance w th:pam�aph 7.
<br /> �-�.•^F �..>
<br /> � ���•q;.� All insurance poltcies and renewals shal!be acceptab e to I.ender and shatl�in�ualo a standard mortgage clause. Leader
<br /> y�':��t;.`E shall have the dght to hold the policies and renewals.If Lender requiros.��irmwer shP.11•promptl,y give to I.ender all receipts of
<br /> , ,��C:7 y paid premiums and�newal notices. In die evemt of loss,Borrower shall gi��e prompt notice to the insurance carrIer and Lender. _ -
<br /> , �+i��r Lender may make proof of[oss i£nat made prompdy by Borrower. r-
<br /> �:�:L;��•:;':`:;�r�.�•..` U n l e s s I.ender and Boirower atheivuise a greE in wdting, insurance proceeds shaA1 t��applied to restoratton or repair of the �•,�=
<br /> �� `� � ' '�+�a«-.mH f Pcoperty damaged,lf the rescoration or repair is economicclly feasi b le an d L e n dea's secvrity is no t lesse n e d.I f t h e n e s t o r a t i o n o r [.;.�.
<br /> "�'!�'��'��!^+ repair is nut economically fea.gible or L.ender's seeurity would be lessened. th¢Insuranci:prooee�s sha11 be applied to tho sums ;,;_
<br /> � " 1�`. �•',U�; ,:' secu�d by this Socuriry Instn�ment.whether or not then due,with any exo�s p�id�ta Borrower. If Bonower abandons the -'
<br />: � ;, � �'� Property,or does not answer within 30 days a natice from I.ender that th¢imurancc aurier has offered to settic a claim,then ,,;,�,.
<br /> " T ��rt L,ender may collect the insurance proceeds. Lender may use Q►e proceeds�to repair ur restare the Property or to pay sums ;.=,,
<br /> '�°'!�!!�'•"�?+�y'°'•�'+�� securea by this Securiry Instcument.whether or not then due.The 30�day period�wilf begin when the notice�s given. ,
<br /> �'A' � . �' Uciless L.ender and Horrower otherwise agree in writin6, any application�of proceeds to principal shall no1 extend or
<br /> �,�t.�. ��'.�t.�"i��
<br /> �_�-�x��'?,�:;�,;;�� � postpone the due date of the monthly paym6nts refcrred to in parugmp hs 1 and 2 or chan�e the amaunt of the payments. If
<br /> ';'`_� ;:.;����- �rr�. under paragraph 21 the Propecty is acqulred by Lender.Borrower's righ¢to any insurance policies and proceeds resulting from
<br /> '��'�'�"'`''`�'�. damase to the Prope prlor to the acqwsitian shall pass to Lender to the exeent of the sums secured by this Securiry Instrument
<br /> .-.,,„. .
<br /> � '�'='�=•-�� � �- imirudiately prior to e acquisition.
<br /> ^"�`�"� ' ' _ 6. poqip�tcy,Preservatipn,Meintennnce and I'rotection of the Pt+operty;Borrower's Lufln Appltcatton;Leasehotds.
<br /> ���,�,„ .
<br /> Borrower shali oaupy,establish.and use the Properry as Borrower's principal residence withln sixty days after the execution of
<br /> � �*�" • this Secudty Instrument and shell continue to arupy the Property as Borrower's principai residence for at least one yenr ufter ,
<br /> �� "' � the date of occupancy,unless L.ender otherwise a�rees in writin�.which consent shail not be unmasonably withheld. or unless
<br /> .� .;,,,,._. .�.
<br /> ' extenuating circumstances exist whtch are beyond Borrower's control. Borrower sh�ll not destroy. damage or impair the
<br /> ',� . Prnperty,allow the Property to deteriorate, or comtnit waste on the Property. Borrower shell be in default if stny fnrfeiture
<br /> ,_ .�F � ' action or proceeding.whether civil or criminal,is 6e�un that in Lender's good faith judgment wuld result in forfeitum of the
<br /> Property or otherwise materially impair the lien created by this Security lnstrument or Lender's security interest.Borrower may
<br /> •.':,t¢�•• � cure such a default and reinstate,as provide�in paragraph 18,by causing the action or procec�ding to be dismisse�with a ntling
<br /> . that. in Lender's g�od faith determi��ation, precludes forfeiture of the Borro�ver's interest in the Property or other material
<br /> '��� � tmpairment of the lien created by this Security Instcument or Lertder's security interest. Borrower shall also be in default if
<br /> ''''f�'�!'' Borrower,duriag the loan application prucess.gave materially fulse or inaccurnte inforn�ation or stntements to[.ender(or faitad
<br /> :.,•:• ,+'•;,'..
<br />- �r.y r1�;;�.r�_ to provide Lender with any mntereal information)in connection with the loun evidenoed by the Note,including.but not limited .
<br /> .�. �,���'';:�;�;,:, ;f ' to.represerztations concerning 1�QrJOwer's occupancy of the Properry as a principal residenoe.if this Security Insaument is on a
<br /> ,,;;,c.�; . . leasehold. Bomower shall comply with a11 the provisions of the les�se. If Borrower acquit�es fee tide to the Property. the
<br /> �•• � leas�hold and the fee tide shail not merge unless I.ender agrces to the merger in wdting.
<br /> • 7.Protectiom of i.emder's Rlghts in tPa��roperty.If Borrower fails to pedorm the covenants and agreements contained in
<br /> - - '�'' this Security Insttument. or there is a legal proceedin�that may signiCcantly affect Lender's ri�hts in the Propeity (�uch as a
<br /> �,. . . , proceodin�in banktuptcy.probate, for rnndemnation or forfeittace or to enforce laws or regulations), then Lender m�y do:snd
<br /> _.r___.�._.__._..s_ ...�.....�..�� e}sss �nluw nf thn pm�rtv�nd l�r►der's riahts in the Proverty. Lender's uctions may
<br /> _.lC- --------- �a��va naaw.�., m ..ywow.� ...�....�. �- •— - • - ----
<br /> .� include puying any sums secuc+ed �y a lien which has priority over this Security Instrument, appearing in court, paying
<br /> -. � "�" reasonable attorneys'fees and entering on the Property to make repairs.Although[.ender may take actlon under this paragraph
<br /> � � �` " 7.Lender dces not have to do so.
<br /> •�:`�`';; • Any amounu disbursed by i.ender under this paragruph 7 shisll bcxome ndditional debt of Borrower sccured by this
<br /> Securi Instiumcnt. Untess Borrower and L.ender ngree to other terms of payment,these amounts shull bear interest from the
<br /> • �i s ;` ; � date o�disbursement at the Note r,ue and shali be payable. with interest. upon notice from I.endcr to &rrrower rcquesting
<br /> payment.
<br /> ;y� � • 8.Mortgage Insurattce.If Ixnc'.er required mortguge insurnnce as a cbndition of making the loan secure�i by this Security
<br /> �',�' . . � Instnunent. Borrower shstll pay the premiums required to maintnin the mongpge insurnnce in eff�*ct. If, for any rcason, thc
<br /> � �. �' moitgage insunsnce covernge required by I.ender lapses or ceases to be in effect.Bcirrower shull pay the premiums rcquircci to
<br /> .'�.4 .._, ; :� obtuin�overage substantinlly equivalent to the monguge insurnnce previously in eflect.ut n cost substandaUy eqaivalent to the
<br /> t;;k;�'� rnst tu Horrower of the mort g a ge insurance prevtously in effect, from un ulternate mortgage insurer approved by Lender. If �
<br />.,, �t�,�, . .
<br />. ' .li_. f.tiL ,.�,`�?;"'. ,
<br /> ., . , Pop�z o�a F6ttn 3028 9I80
<br /> � . . . .
<br /> ^� _ —
<br />
|