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<br /> _ , ,����� The Furcds shall be hcld in an �nsdtution wt�ose deposits cuo insured by s► federai ngency. instrumentality. pr endty —
<br /> (includin�I.cnder.if l.cndcr ia such an insl[tution)ar in uny Fcdcral Homc E�un Bank.Ltndtr ehali npply tho Fund.9 to pay thc
<br /> - > �scrow(tr,ms.I.ender mny not chnrge Borrower far holding nnd applying the Funds,unnually cuialyzing the cscrow c�cc�unt,or
<br /> � .,' vcrll�ring 1hc Hscrow Itcros,unlcsa l.cnder pays Borrowcr Intcrest an thc Pwids and npplicsibic Intv�crm3te I.�ndcr t��ik+kc 4��:1i =---
<br />- n cBarge. Hawever, Lender may require 8orrawer ca psy n�ne-time churge!nr nn independent rc:al ertate u►x repnrtlnA service
<br /> ' '-�•=-� uscd by Lcnder in cannectian with thic+ lnun, unlc+s upplicuble law piavldcs othcrwisa Unicas an ugreeme��t ia nude or
<br /> � ' nppliciiblc luw rcquires interest to tse paid,L.�ndcr Rhall not bc rrquired to p�y�3otrower any interest ar rarninge un the Fnnde.
<br /> , ,' �. � vc to��rn�wce,
<br />_ r�ti��;�„��� Barwwer and l..cnder mny ugree in wrltin�, however,that int�rc�t ehull bo puid on the FundK.LcndeF shull gi
<br /> � without charge. un unnunl accourtting of the Funda. showing creditx nnd debits to the Nunds and tho purpose for which cach
<br />' � ° debit to the Funde wne mndc.The Funds ure pledged as redditional secudty fur ull suma 6ecured by this Sccurlty Jnatrument.
<br /> �~ , d;,i � lf thc Fund�s held by l.ender excced the annun�g permitted ta be heid by appli«sble law. Yx�Kic;r�hell ucwut�t ta l�a�s'at;e� ���
<br /> rv�� ��'"' ��� far the excess Funds in accordance with the uirements of appl�cublc low. If the nmount of the Funds hold by I.cnder at any
<br /> " time is not sufflci¢nt ta pay thc Hscrow Items w en due. Lender may�o noti('y Borrowcr in writing.and.In such caso Bortowcr
<br /> � � � shull pny to Lender the umount necessary to make up the deflciency. Borrower shull mako np the deficieacy in no more than
<br /> ^ � . twelve monthly pnyments.at Lender's sale discretion. �nder shall prompUy refund to Horruwer uny
<br /> Upon puyment ln full af�ll sums secured by this Secudty lnstrumenl,
<br /> � � , Fu�uis lield by L.ender.If.under parngraph 21,C ender shall acquire or sell the Property,L.ender,prior ta the acquisit[on or sale
<br /> .�• � af the Property. sha!!apply uny Funds held by Lend�r at the time of acqulsitIon or snie as a credit against tho sums sccured by
<br /> '/ this Secudty Instnunent.
<br /> > 3.Application of Payments.Unless applicable law provides otherwlac.all payments rcceived by Lender under paragapl�s
<br /> ; 1 and 2 shall be appiicd: first. to any prepayment charges due under the Note: second.to amounts payabla under paragrAph 2;
<br /> � • � thiM.to interest due;fourth,to principal due:and last,to sny late charges due under the Nate.
<br /> a. 4.Chaiges;Ltet�.Borrower shaU pay ell taxes,assessmentg,charges.fines and imposidons attribulable to the Ptaperty
<br /> x • which may attain priorIty over thts Security Insuument,and leasehold paymenu or ground rents. if any. Bamower shall p�y
<br /> � .: these abligatlons ln the manner provided in paragraph 2, ar if not pnid in that manner,Borcower shall pay thCm•on time dfimctly •.,.
<br /> ta the person owed payment. Barrower shall promptly furnish to Lender all notices of emounts to be pald unde�'�R p�►8�h• .
<br /> �, If Borrawer makes these paytnents directly, Borrowar shall pram�tly gumisb to Yxnder raceipts evidencing ti�e payments. . ; ; .
<br /> � Borrower shaU promptly discharge any lien wlilch has prionty over this Seeucity Instnunent unless Borrower:(a)ag�ee�in
<br /> '�t;;;.t, '. ��'''t� wriung to the payment of the abligation secured by tha tien in a manner acceptable to Lender; (b)conteste in good faith the lien
<br /> ?`;;;��� ��,�.ti,,;, � � by, or defands agalnst enfarcament of the lian in. ic�al proceedinge which in the Lender's opinion oparate to prevent the
<br /> �`'•'' ��� "�•':�;�' enforcement af the lien:or(c)secures from the halder of the lien an agreeraent satlsfactory to I.cader subo�dinating thc lien to
<br /> ' ''�� this Seeurity Instrument. If Lender determines that any part of the Propercy is subject to a lien whIch may attain priorlty over
<br /> . • '::.;�•.
<br /> ' � this Secudty Instrument, Lender may give Borrower a notice fdentifying the lien.Borrower shall satiefy the lien or tako one or
<br /> ° more of the uct�ons set forth above withln 10 days of the glving of notice.
<br /> 5. Hazard or Property Insw'ance. Borrower ahall keep the improvements naw existing or hereafter erecteci on the
<br /> Property insured agalnst loss by fire. hezards included within the term "extended coverage" and su►y othar huzards.lncluding
<br /> ' floods or flooding. for which Lender requires.insurance.This insurance shaU be maintained in the amounte and far the pedoda
<br /> — thai L.cndsr req�ir�.T!�lnsuranss��rrirr �mviding the insurance shull be rhosen by Horrowcr subJect to Lender's appravat
<br /> which shall not be unrea.conably withheld. If Borrower fuils to maintain covernge desexibed ubove, l.endor muy, nt Len3rr's
<br /> option.obtain covecage to protect Lender's rights in the Property in uccotdwtce with purn�roph 7.
<br /> All insurance policies und renewuls shull be acceptable to l.ender und shuU inctude u standard mortgage ctnuhe. Lender
<br /> � shaU have the ri�ht to hald thepolicles und renewnls.lf Lendcr rcquittw,8arrowcr ahall promptly give to I�ender al!reoeipts of
<br /> „ • paid premiums and renew�l noticcs. In the event of losw. Borrower shull give prompt notfce w the insurunce carrier and L.ender.
<br /> C.ender may malce proof of tosa if not made promptly by Borrower.
<br /> Unless i.ender and Borrower otherwise agree in wrltin�.insurnnce procceds shall be applfed to restoration or repalr of tho
<br /> �� Property dumaged.if the restoratton or repajr fs eronomically feaslble and Lender's securiry is not lasened.If the restoratton or
<br /> ' �, � repair is not economically feasible or Lender's ucurity would be lessened.the insurunce pracceds shnit ba applfed to the sums
<br /> ' '� secured by this Secudty Instrument. whether or not then due, with any excess paid to Borrower. If Borrower nbandons the
<br /> ., Praperty, or does not anawer within 30 days a natice from Lender that the Insurance carrler hes offered to settle a claim. then _
<br /> ' I.ender may collect the [nsurance proceads. Lender may use the procee�is to repair or restore the Property or to pay sums .
<br /> � � secured by thts Securiry Instrument,whether or not then due.The 30-day perioci wlll begin when the notice�s gtven. --_
<br /> �� • Unless Lender and Bonower atherwise agree in writing. any npplication af procecds to princlpal shall not extend or --�
<br /> postpone the due date of the monthly payments referred to in para�raphs 1 and 2 or change the amount of the paymertts.If 6='`
<br /> � under paragraph 21 the Property is acquired by I.ender, $orrower's right to any insurance policies and proceeds resultins from �.':`
<br /> 1 ,' ' •` damuge to the Property prior to the acquisition shali pass to Lender to the extent of the sums secured by this Security Instrument ' :,,
<br /> imme�iate►y prior to the a¢quisition. ,
<br /> 6.Occupnacy, Pre�ervation,Maintenance and Protection of the Property;Borrower s Loan Applicationt I.easeholds.
<br /> • Borrower shall occupy,establish,and use the Propeny as Borrower's princlpal residence within sixty days aRer the execution of •
<br /> � • this Security Instrument end shall continue to occupy the Property as Honower's principal residence for at least one year nftor
<br /> • the date of occupancy.unless I.ender otherwise agrees in wr�ting,which consent shall not be unreasonably withheld, or unless
<br /> , ' f• extenuating cireumstances exist which ure beyon� Borrower's control. Borrowcr shall not destroy. damage or impair the
<br /> Properry, allow the Property to deteriorate,or commit waste on the Pcoperty. Borrower shall be in default if nny forfeiture
<br /> . action or proceeding,whether civil or criminal,is be�un that in Lender's good faith judgment could result in forfeiture of the
<br /> , Property or otherwise materially impair the lien creuted by this Security Instrument or Lender's security interest. Borrower may
<br /> cure such a default and reinstate,as provided in paragraph 18,by causing the action or proceeding to be dismissed with a rulfng
<br /> that, in Lxnder's �ood fuith determination, precludes forfeiture of the Bonower's intemst in the Property or other material
<br /> . ! impairment of the lien crcated by this Security Instrument or Lender's security interest. Bdrrower shall also be in defpult if
<br /> Borrower,during the loan applicution process,gave materially false or inaccurate information or statements to Lender Ior fuiled
<br /> to pr�vide Lender with any material informationl in connection with the loan evidenced by the Note, inrludin�, but nat limitai
<br /> to,representations concerning Borrower's occupancy of the Propeny as a principal resideni.�e-. lf thi+Security Instrument is an:i
<br /> leasehold. Borrower shall comply with al[ the provisions of the Ieuse. If Borrower ucquirex tce title to thc Property. th� f
<br /> ., leasehold and the fee title shall not merge unless Lender agrees to the mergcr in wrtting.
<br /> 7.Protectton of I.ender's Rights in the Property.If Borrower fails to perform the covenants und agrecments rnntained in
<br /> this Security Insnument,or there is a legal proceedin�that may significuntly uffect Lender's ri�hts in the Property (such uv a
<br /> � proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or rc�ula�ions), then Lender may do and
<br /> `? ' Qay for whatever is necessary to protect the value of the Property and I.endcr's rights in thc Pr<�perty. Lcndcr'� urtionr may
<br /> tnclude puyin� any sums serured by a lien which has priority over this 5ecurity Instrument, appcurm�t in cuur�, payin�Z �
<br /> .L_ n_.. ..L., e�.h..��.,h t..�,1�r mav�s�{c��:�rti�m undcr thi� narLUruuh l.
<br />_ " -- reasonuoie accorneys' iees anu c��ic<i«g��� .��...���:� ;a::..�.. �;,«E�. .....-..-o••--..__..__, .._ . . _ . .
<br /> 7,L.ender does not have to do so. '
<br /> �i � # Any amounts disbursed by L.ender uncier this paragraph 7 shall become udditional debt af Borrowcr securcxi by thi+ �
<br /> �� �,° Security Instrument. Unless Borrower and I.ender agree to other terms of puyment, these umaunts shall bcur interest Crcim the !
<br /> 1 f:•.� � " date of disbursement at the Note rate and shall be payable, with interest, upon noticc from Lencicr to Bormwcr nyuesting
<br /> { �' • ' payment. �
<br /> � 8.Mortg�sge Insurance. If Lender required mort�uge insurance xs u cunditlon nt making the loun secured hy this Serurity .
<br /> � � Instrument, Borrower shall pay the premiums required to maintain the mortgagc in�uranrc m effect. If, tirr uny r�:ation.the .
<br /> " :.� mort�age insurance coverage required by Lender Inpses or censes to be in effect. Born�wer shatt pay the premiums rcyuinxi to ;
<br /> ;:_��,_ obtain coverage subatantially equivulent to the mortgage insurance previously in rffect, ut a cost �ubstantially eyuivuten[ tc�ttir �
<br /> • cost to Borrower o f t he mort�age insu r n n c e p r e v i o u s l y i n e f f e c t, f r o m a n u i t c m a t e m o n g a g e i n s u r cr a p pran•cd h y� Lender. I!' ,
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<br /> ':J::'`�• " ' • reqo z o�a Porm 3028 9190 '
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