|
� . .. , .
<br /> ,
<br /> , . ' ,,. � t y;} �,,•.::. � ' n
<br /> _.!1' ��. "•- :. '� i.t. �� , --- — .... . .___ .� ... -_...
<br /> � _. ,. _. _� ��___�_ . i� .
<br /> __ ____.'. ._".d.l'+-. ... __'. ,.,.�._�.
<br /> �_i�� ����
<br /> `""'_ '"'.,_-.-
<br /> �.i'. . i�/.�ts7l _.. - _ —
<br /> /1I
<br /> -____.'._ ... _._____. __. _. ._'. __. _. . _ . -... ...._. . _ ._.__..._ .. _ . . ._____. .
<br /> _ , r� _.. _ � .: �,�ro��t� � ��,�D���
<br /> • . �JOQ�Th�fR .W�i"H aM tha now a ha�lbr� N't�d �A �� �
<br /> ' kfii�m na�w.•or,.hnr+MU�r�p+rt�'op�rry.A01 NpMo�r�r�� �nd �dcptl�ns eh�M N�aowrnd by thR�arllf►inMnrn�y'�
<br /> Nf ot th�tcrrnppkt{t���rNernd to In thM 8�anlly Mrt�vm�rd��th�'F�»perty.'
<br /> Bf3f1Af.'1��iR.�CQV�NANTB th�t Bnnower la kwtuMy a�F7icrd of thA at�te hereby acnvnyed+�nd h�t th� dphi to p�nl onif
<br /> convey thn FfoF�i�►Y �nd that th�PropMy b unmcumb�nd,�occ�pt la rna�mtrpnw� o?rooard. Bo►rcwir waR��t� Rnd wiit�
<br /> — • daimd ApnnsnANlih�Nlb to th� Ptop�rty ap�kut RII c�Im��nd dan�nd�,subJluR to erry�nowndrAnclrs of r�coni.
<br /> TI�ftR 8ti4'�f:�iliY IN9IAURAENT aon�G�N unMorm cov�nU ta ru►Uotwl us� and non�+MNam Rov�n�nb wNh.MrnKrd"�
<br /> v�d�ttana bK�hfde�dlatlon ta aonstNuts��nMcrm ucurky Imtrum�►t aov�inp roN prop�rty.
<br /> UhtigOill14,CQYENJWTB. 8otrowa�nd L�nd�►cav�e�ant�nd�as 1oMow1: � �
<br /> = t, P�qf�nt of Principal and IM�n� Pr�psym�nt and L.�Ch��.Bonow.��h�r pronptly paY wh�n
<br /> --_-__ _ __ _ _� di�n thn d��c�r�t of�nd Inte�ua4 on tbo d�bt mAdenced by th�NoU�nd eny prep�ym�►t�d 42�cturgiK due und�r the Nuh.
<br /> �.
<br /> Z. .�utt� to► T�x�� and Insunu�u�.sub�eae to.�,pik�bi.i.w or to.wrkan w.�r.r ny l.�na.r.8orrow.r stw p�y » `
<br /> ta LmndcR„a�1��hn day monthy payrnertte are due unda the Not�,untN th�Not�h paid in iuM,a wm('Fund�")ia: (�)yaMtY �
<br /> tnxen snd i�eaamenta whlaA may ittaki prtoriry o���r this 8ecu�ly Inatrument�a a Nen on th� Property; (b) yMry I��si+oM
<br /> P�Nmt�tfl of�g�ound renta on ths Propa-ty.N mY: �a?YM►ty haz�rd a property Insunnc�pnrriums: (d1 Y�Y Aood Inwnmsa �
<br /> , p��,H,any: (e),yearly mortqape inauranae promluma,(t�nyr, �nd (Q�ny suma pay�bN by 8otrowa to Lender h aceordanaa
<br /> with�thw proviqjons ot paupnph 8, N Ilau ot tha payment of martgage ineuranae premlume. These R�ns uo uU�d "Esc►a►�►
<br /> ••� ltR��.• Lendar may,at nny Ume, coHect and hotd Funda M en amount not to aceeed the m�ximum runouM• lender iw a
<br /> =r`. tudtaaNy nia�tad maRgage loan may requiro tor Bonower's esaow aacouM under the federal Reat Eatate 3ettlemeisi Pr4cedunta —
<br /> 8
<br /> J,•�" Aet ot i8J4 ns eme►edad irom tlme to dme,12 U.8.C.�2801 et seq. ('RESPA'), uNeaa another law that pppi� to tha Funds _
<br />-��, •; sats• leasm emour►t If so,Le�der rfu�y,et any Nme, coNecl and�hoid Funds In an amount nat to w�aee�c�ihe Ieaaer amount. �
<br /> y`� • Lender rtu�y es1(m�te tAa amaunl 07 Fuq�s due,an the bas[a o! pur�M.d�p an�re�§pnabla..eallmaT�B`�of.o�l�nditurea ot Mtur� ;.�T
<br /> � Escrow Items ar oth�rwise in aCeordanae wHh�,ppiicab7a la�v. . . ; , � , ,. �'
<br /> o ''��!;,�.1ti; � The Funds sliaN be held in�an.institution whose.depoatta are d�aured hy�fedetoJ�sga�tay,ln�truma�tnGry��•9nt1y►(inciuding
<br /> � �?f�;'s,:'.�; Leader, d Lender is sueb an IndtlhRton)or tn eny Federal iiomo Loan 8ank. Lender ahaA appty tha Funda to pAy tha Eatxow
<br /> 1fi<_s;f+ Iteme. Lender may not aharge 8otrower tor holdtng and appying tho funda,ennusity+inayzing tha enaow acaount�.ar v�g
<br /> the Esarow ttema,unleaa Lender paye Borrower intereat on the�unda and appilcebie'Inw perndts Lendar ta mt�fce euah a
<br /> ch�rqe. Howeve►. Lender may re+quiro 8omowa to pay a onadma eharge tor an Independant re�! eatate ta� reporth�g �srvks
<br /> ,� ;: used by Letider In conneedon with thie Ioan, unlaas appAcable Isw prorides otheswfse. Untaas an aqraemad la m�de or
<br /> �ppko;bie law rsquirea Interest to be pald, Lender aheU not 6e requirad to pay Borrowe►any Interaat or etminpe on!he Funde.
<br /> BoROwer�nd LandK m�y�yre� in wrMkip, howw�r, th�t MtKest sh�N 6�patd oe th�Fund�. Lmder tMN pN�to Bomoww.
<br /> - ��"'� wfthout ohar��, an annud acaounUnp ot the Funda, ehowin�cradHs �nd debite to ths Fund��nd the purpm�lar whksh �oh
<br /> '=�� " �� debN to lhs Funds wa�mode, Th� funds m pt�dp�d�a addlttond e�cudry tor�Y sums��turtd by th�BecuAty InstrumMft.
<br /> • il the Funds h�id by LendK�xce�d ths�mounte WamNttM to b�held by �ppNc�bls kw,Lender ehUl�aaount to Bamsw�r
<br /> 1 r �;:,�`�C_`�;, tor the oxo�ft Funds In �aaortl�nce wflh th�requkanf�nt� ot�ppYc�ble law. 11 th�amount ot fh�Funda haW by Lender�t any
<br /> ' Iime to not eumatmt to p�y!he Eecrow Ibma whm du�, Londer may eo aottry Borrowet In w�tlnp,artd, In eunh cats Borrown
<br /> �• •�1�"'���'��, eh�N p�y to lcoda th� �mount ntcnsuy to make up the dNtctenay. 8onower ehaN msks up tho dotloienoy In na mar� 1h�n
<br /> ' ``"'' "'` ' twetr�monthry paymmta,at Lenderb eoie dtsaetton.
<br /> �t. �4'.k:�� -. �- �fr:
<br /> ';�a.�:�• -: � Upon payment In lull oi aN eums eeeured by thla 9ewrNy Inetrument,lendor ahtlf prompty rotund to BoROwer any Funde
<br /> c�Wf'f:.-,r-wti:.::�„at`'" hahi by t:i.�a, tf,;ua�ar y�ra�is 2i,isssdsr st►aN ac�ira tK s�i iAe �'m�riy.L�sd��prias ta ihs ar�ts�st ar:ab a!!!ta
<br /> ., , - Prope�ty.ahaN appty any Funda he�d by lender at the tlme of acqulsiUon a sale as a credit agnlnat tho sumn aecurod by thia —
<br /> ��;:�' ., � . • Security Inatrumeet.
<br /> .�. ���. ����� 3. AppllCatiOfl of Piymet�te. Unlese applicable law provides othenvise, a0 paymants rocelvod by Lendar undus =—
<br /> ti'.. , ' pnregrephe 1 end 2 shall be appiled ffrat, to any prepayment cherges due under the Note; seeo�d,to amounts paysble undcrr :__:�:
<br /> '�� . �: pamgraph 2;thlyd,to interest due;tou►th,to pdndpal due;and Iast,to any Iate charges due under the Note. -
<br /> ,�'�::
<br /> ' . . 4. Chs►g6b; UenB. Bortower ahali pay alt texes, asseasments, cherges, flnes and imposttlons ettributu6�a to the ,,.�,
<br /> .',::'� Property whtoh mayr attain pdoriry over this 3ecurity Instrument, and leaseho�d payments or ground rents,B any. 8orrower shult
<br />"' `""'°�="' ' "�% pay these ob�gations in the manner provlded tn paragreph 2, or H not pald in that manner, Borrower shatl pay thmn on Ume . -,
<br /> . ,'",4. - .. , �' �eelly to the peroon owed payment Boaower aheU prompUy tumish to Lender all notloes of amounta to be patd under this
<br /> •x°��%*^'"•`-�'�:'-""°� paragnsph. H Bortower makes these paymeMs d(reetly, 8arowa sha11 prompt�► tumish to Lender recdpte evtdencing the ��r
<br /> y,f..,.� ;:���•:u:�.+.• PaYmente, �•
<br /> .`s•;, '...;r�• � ,.
<br /> � �•:-�+!'~••�• • Bortower shaU promptly diachtuge any tfen wN�ch hea pdoNty over this Seeudty lnstrument untesa Borrower: (a) agrees tn -
<br /> , •scY�+�`� "` ��`� wdting to the payment of the obUgatbn secured by the Aen In a manner acaeptable to lender; (b) eontests in good taith the �i��-
<br /> T.'.:i;���c,•.f.�j�..;�..
<br /> '�fi?'•�':�,1 +';�,,•-"'�� Ilen b , a defersda egninst entorcement of the Qen In, legat proeeedin which in the Lende►'s o Ufon o erate to revent the ,�'�`.�
<br /> �{`�., y 8s P P P r .
<br /> � ^°'•~�"�;;�'��:`�^��' errtorooment of the ilen; or(a) eecures 1rom the holder ot the lien an agre�ynent seUsfactory to Lender subordinating the Iten to •�,;
<br /> .�^.-..:• ,,,r rt�•°,+���� th}s 9eourity InsLument It Lender delem�ines that arry part ot the Prope►ty is subJeet to e Ilen which may ettn(n pdarity over this <<,'
<br /> � � ��•�`'�"- � � 8eourity Instrument, Lender may gNe 8o►rower a noUce IdenUytng the Nen.8orrower sheU saUaiy the Iten or take one or more ot :
<br /> �:,.'..,._,._;�`:;rr�r',�h:i.-
<br /> ,t, .: the aattone set tadh above within 10 days of the gtiing ot noUce. :
<br /> „'' -•� �• 6. HBZard or Property InSOrenC9. Bortowe►ehap keep the improvements now existing or hereafter erected on the �'
<br /> •.;:,:..t ' PropeRy insured agaU�at toss by ilre, hezards inciuded wfthin the term 'extended cove�age' and riny other herards, fnduding
<br /> "':,'�..� .��rJ•;l:J:�.4� '.
<br /> .. �,,.;.. . tlaode or 800ding,for whtoh Lender requlres inaurence. This insurance shall be malntafned in the amounts end tor the perbds
<br /> � ' �'`'��' that lender requlres. The tneurance cartler providing the inaurance ehall bo ehosen by Borrower subJect to Lender's spproval
<br /> � � ��s����,�� whfoh shail not be unraaeonabiy wkhheld. It 8orrower teds to malntain caverage desaibed ebove. Lender may, at Lender's ,
<br /> •�•'^• optton, obtain eoverage to protect Lender's�ights In the Properry In accordance wfth paragraph 7. � .
<br /> � � ';�,,. - NI insurence poNdes and renewals aha0 be ecceptable to Lender snd ahatl Inciude a standard mortgage clause. Lender
<br /> ��Y-• "`� �.t shaY have the�Ight io hotd the poUdos and renewals. It Lender reqaires.8ortower shap prompty givo to Lender all receipts of '
<br /> �.•-.. p.,• , pnid premiuma and renewa�notices. In the event of tosa.Borrower shall gNe prompt noUee to the Insuranae cartiar and lender. :,
<br /> �. • �:- Lender mey meke p�oot o}�osa H not made promptly by Borrawer. '`
<br /> ., , Unless Lender and 8orrower otherwise agree in wdting,Insurence proceeds shall be epplled to restoreUon or repatr of the ��I
<br /> ��• ' • Proporty dameged,H the restoratlon or repalr ts economicaity feasible and Lender's sewrfly is not lessened. It the restoraGon o� �'s;
<br /> " �.;. .:-tii. . repah ls not economicalry feasJb�e or Lender's aecurily would be Ies�aned,the insu►ence proceods shalf be applied to the sums j
<br /> `� :{.b'� seeured by thls Securky Ins6vment,whether or not then due, wlth any exoess paid to Bortower. It Borrower abandons the t{!
<br />- ��"`��� Prope rt y,or does not answer wtthin 30 days a noUce�'rom Lender that the inaurance cartier has oitered to settle a ciaim, then �;
<br /> lender may coqect the Inauran¢e proeeeda. Lender may uae the proaoeda to repair or restore the Property or to pay sums
<br /> . ' ��;r:�":'.' .. : ' ' aacurod by thu Seeudty Instrument. whethe►or not then due. The 30-day parlod wiU begin when the nodce is given. �
<br /> • � ;'.���°:�'^1•��^~�� Untess Lender end Bomower othe�wtse agroe in wrlttng, eny appitcation of proaeeda to pdnofpal shall not extend or
<br /> � postpone the due date of the monthly payments retened to in paragrepha 1 end 2 or chnngo the amount ot the pAyments. Ii
<br /> � 4 under pamgraph 21 the Properiy ia aequired by lender, Bartower's �ight to eny insurance poAcies and proceeds resutttng from
<br /> , •�� `'`' - " "' � damege to the Properry pdor to the acqulaftlon ehall pass ro lender to the extent oi the sums by this SecurNy �nstrument
<br /> Immadiatey p�lar to the acqulsWon. �
<br /> 8. Ocoupanay. Preservatton� MatMonanee and Protection of the Property; Bar�ower's Loan j
<br /> - � g`�- �,-- �� - App1ICAt10J1; Leaeoholds. BoROwer shall oacupy, estabUah,and use the PropeAy ss Bonower'e pdnotpat restdenoe within �
<br /> ' " �� � ' sixly dayre after tha executlon of tNa Securtty Inatrument and shaU conUnua to oacupy the Properly as Bonower's pdndpai �
<br /> � restdonoe tor at �east one year after the date ot occupanoy,unlese Lender othen�+ise agrses In wrking, whtch consent shail not
<br /> , ,; be unrensoneby wRhhetd,or untees extenuating circumstenaea exlst whloh are beyond Borrower's controi. Bor►awer shall not I
<br /> •�"•'`" deatroy,datnage or Impair the Ptoperty,altow the Properry to detedorate, ar commR waste on the Property. Borrower shaU be in
<br /> , �'r �: � defaul! tf any tortelWre actlon or praeeeding, whether clvN or erlminal,Is begun that In Lender's good fefth judgment couid result j
<br /> ` in todefture o}the Properly or otherwise mater�ally impalr the Ilen created by this Securfty Inatrument or lender's security intereat.
<br /> ,, ,µ,
<br /> � � 1�'`' �
<br /> ��_�. ���. ..: .
<br /> � '.���1e'�)h"". �
<br /> - �� '1.•;`'- • ' � �
<br /> . "��. r}yr�.'r F1318.LMCi(14/83) Paqe 2 ot S L
<br /> , ';?'�{�1.'�,., r�.,�i
<br /> .:1�
<br /> .-�. ��i.� .
<br /> '.c,.-. t '.'�� ...:'4
<br /> .���•�:9�t;;.���k�'f:
<br /> �4� I
<br /> � 940TU —
<br /> < < i� �
<br />
|