|
..�, �,�,: :.��� . �, . . ;�•:;;;.
<br /> ,.. �
<br /> . �t
<br /> • ,
<br /> _..._ _ ' ' _ _ , � , . ��..���'� " ,.
<br /> The Funct� shxll bo held in �n ln�titud�un whase drpoeits ArG jnsurod by a feder�l �a�cy; instrumentdity,, ar aKity
<br /> (inctaEing l.encler.iY Lcnder ix;+uch u�instituNnpl Ur}n any PcdeFal F�otne l.oan�ank.Lender�heU o�tp{y the Furda ta p�y the
<br /> Cscraw Itcntw. I.c�tdcr may not cftargc k�rrnwcr fur holdin�nnd c�pplyinK the Fu�dy, ennunlly nnalyying iho e�:mw acawnt,tv
<br /> vtri`y(ng tlie Fticrow Itemv.unle�s[.e�k�ier payK{2c�rrowet`interese an tt�e Fuuds pjxl ap�lkcuble i¢w perntits l.e�xle�r to mAfc�tiuch
<br /> !
<br /> a ch�+rge. Hnwever,Lcnder nwy rc�ufre Burruwcr¢o pay u m�e•ti�tx chargc fi�r nn in�pntxt�nt rcal cstate tux reparH�zg�:rvic,�:
<br /> usai by l.ender in connectinn with tbis luun� unless nppltcable IAw provid�w otherwise. Unlr.ss an agr�sment ia made or
<br /> opplicabla law requjres intcrcst tc�be Raid.I.endcr shult nat be roquiral to p,�y�c►rrower any interest or eamings an ihe Fuixis•.
<br /> EWrrower�xl I.,ender may igroe in writIng,howaver.thut interest shall be pWld on th�s Funds. Lesider riull give ta&�rroWer.
<br /> withaut chwrge. an annuRi accounting of the Fl�nds. flhowing credlta and debfts ta the Kurde�nd ttw pu�pose for which aich
<br /> debiz to d�c:Fu�xfs w:u n�ulc.�IYIC j'Wt�S AI'C R�C{I�'Cd iS9 Rtld�ll(111HI SlCU�[y�Ai HII FUlT19 NtCilfCd I1j�IIIEF SECIiTIty�RtilNll]IIYII.
<br /> It thc Funds beld by Lc�xier exc�,rod the umounta permitted ta be hsld by applicable law.Lcnder wlwll�ca►unt ta Aarrower
<br /> for the excYSS Fundy in accordence with the requircment9 oY upplicuble law.If the arnaunt af the Funds held by Lendec.at any
<br /> time id n�zt sufficieni to p�y the Escrn�.v Items when due.I.ender muy so notify Borrowcr in w�iting,and.in sunc��.w Bormwer .
<br /> shn11 pu.y to I.ender the arrwunt massa�y ta makc up the defic[cncy. 8ormwcr shall muke up tho dtficietticy in no mare ttwn
<br /> twel vo munthly payments.ut l.endcr's sai�discretion.
<br /> Upon payment in fult of ull sums sesurod by this SocudtX Insteument. Lender shall rromptly refund to Borrownr any
<br /> Funds t►eld by Lendcr.if.undcr parugcuph 21.l,.ender shall ac�u�re or sell thc PrapeRy,Lcr�der,psior ta the arquislQon or eale
<br /> of the Property.Fhuq appiy nny Funds held by I.ender at the Wne of ncquisitton or sale as a credtt aguinst the sums stcuned by
<br /> this Secudry Irtstcurr�ent.
<br /> 3.Appltcudon ot P�yments.Unless applicuble Inw pmvides otherwjse.ull payments received by Lender under paragrephs
<br /> 1 a�td 2 shnil be applicd: t�rst,to uny prepayment chargcs due under the Note;scxond.to amounts payable under paragraph 2;
<br /> third,to tntcrest due;faurth,to principal due;und last.to uny lnte charges duo under the Note.
<br /> 4. Charges�Lten9. Borrower shall pay all taaes.assessments.churges,fines nnd impositions ntaibutxble co the Pro rty
<br /> r
<br /> wh�ch muy at ain pr�adry over this Securiry Instrument, ar.d leasehold payments or ground rents,if any. Botrower s pay
<br /> these oblignuons in the manner provl�ied in pa�'agraph 2.ar if nat paid in that manrte�.Hrrrrorler sdall�ay lhem on time dimtly
<br /> to the person owed payment. Barrower shall promptly fumish ta l.ender alt nodces of amounta to be paId under this parn�rAph.
<br /> If Bortower makes these payments dtrectty,Borrower shall prom�tly fumish to Lender c�eoeip�v evidencing the paymeata.
<br /> Botrow�r shall promptly discharge any lien which has pr�onty over this Secwiry Instcument unless Borrower.(u)pgrees in
<br /> � � � ��, wrlting to the payment of the obligation secured by the lien in a manner acceptable to[.ender;(b)contests in good faitb the I�en
<br /> � �.�: by, or defends ugainst enforcement of the lien in. Ie�u! proceediugs which in the Lender's opinion operate to'prevent the
<br /> ,54''.-�.'t,,r.� n
<br /> � � �� �plt�' enforcement of the lien;or(c)secures from the holder of the lien an agrcement sadsfactory to Lender subordinating the lien to
<br /> �Q����x�• this Securtty Instrument. If Lender determines that any part of the Property is subject to u lien which msiy attain prlority over
<br /> �°�'��5��`�*.'�i�•� � this Secudry Instrumeni. Lender may give Borrower a notice identifying the lien. Bomower shall satisfy the Iien or tsike one or
<br /> .�.�:c,.
<br /> ���, _ �, ,� ` mor+e of the�u:tions set forth above wlthin 10 duys of the givin�o rtot�ce.
<br /> ,X�".,, , ' S. Hazard or Property Insurance. Borrower shall keep the impmvements now existing or hereafter enxted on the
<br /> . � Property insuc+ed against loss by fire. ha�ards Include� within the term"extend�covcmge"nnd any other h�ards. IncludIng
<br /> � 1�• • • floods or flooding, far which�.ender requires insurance.This insurance shaU be maintained in the amounts aad for the pedods
<br /> ;�.�.�.�-,.: ,� that Lender requires.Tfie insurance carrio�providi�ib ihe insuraa:.a sha!! !sc c�ho�►by Sarmw�:r a�bjeci s�I.essdec's spgrars!
<br /> � � which shall not be unreasonubly withheld. If Borrower fails to matntain coverage described above, l.endee may.at Y.ender's
<br /> ` . , option,obtain coverage to proteet Lender's rights in the Property in accoMpnce with paragraph 7.
<br /> ,. All insorance pol�cies and renewals shatl be acceputble to Lender and shall include a standsird mons�e clause. Lender
<br /> •; � shal l have the right to hold the policies and renewals. If L.ender requires,Borrower sh�ll promptly give to i.ender�li receipts of
<br /> �''���•'� • pnid premiums and renewal notices.In the event of loss.Borrower sh�lt give prompt rtottce to the insurance carriet and Lender.
<br /> �.y;;, Lender may makc praof of loss if not made promptty by Borrower.
<br /> ,:.,�;°:� Unless I.ender and Borcower otherwise u�ree In wrltin�, insurance proceeds shul� be applied ro restorntion or repair of the
<br /> �" �'::} Property damaged,if the restoration or r�pair is economicaily feasible und Lender's secudty is not lessened.if the restoration or
<br /> � " ���' npair Is noi economically feasible or L.ender's security would be lessened.the insurance proceeds shall be applied to the sutns
<br /> ��.., _ ,
<br /> . '. serured by this Securiry Instrument. whether or not then due, with any excess pnid 90 Borrower. If Borrower abandons the
<br /> PropeRy.or does not answer wlthin 30 days a notice from Lensier thut the insurance csurier hns offertid to settle a cluim,then
<br /> •:;J,,,. Lender may collect the insurance proceecis. i.ender may use the proceeds to repair or restore the Property or to pay sums
<br /> �°��'`� ' � secum�ci by this Securiry Instrument,whether or not then due.The 30-day period wiil begln when the n�otice is given.
<br /> `, � . ��:?:i°t (lydess I.ender and Borrower.otherwise agrce in writing, any appltcntton af proceeds to principal shall not extend or ,
<br /> ,_ � � . ''�,rr;;'s postpone the due dc►te of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payment�. If "��
<br /> underparagraph 21 the Pt�ooperty is acquired by Lender.Borrower s right to any insursu►ce policies and procceds resutting from �''"'-.
<br /> demage to the Property prior to the ucquisition shail pass to Lender to[he extent of the sums secumd by this Security Instn�ment ��>
<br /> . •• `^ �;'�a.; immediately prIor to the acquisttion.
<br /> ' �' '����' 6.Occupancy, Preservation,MaintenancP and Protection of the Property; &►rrower's I.oan Application;I.easeholds.
<br /> ' � �`���'F'; Borrower shall occupy,estublish,und use the Property ss Bc�rrower's principal residence within sixty days aftcr tP►e executian of
<br /> �,,:;
<br /> • this Securlty Instrument and shall continue to occupy the Property as Horrower's principal msidence for ut least one year nfter
<br /> the dete of occupancy,unless I.ender otherwise��rees in writing, which consent shall not be unma.wnably with4�eld. or untess .
<br /> C'�••�> , extenuaang cireumstnnces exiat which are beyond Borrower's wntrol. Borrower shalt not destroy, damage or impair the
<br /> .:.� Property, allow the Property to deteriorate, or commit waste on the Praperty. Bornower shall be in default if any forFeitum
<br /> �.t� '�� • �y,,�i actian or proceeding,whether civil or criminal, is begun thut in Lender's good fuith judsment could result in fodeiture of the �
<br /> '" Property or otherwisc matedalty impair the Ilen crcated by this Security instrument or i.ender's security interest. Borrower may
<br /> �7 ° .. " cure such a default and reinstate.as provided in paragraph 18,by ruusmg the action or proceedin�to be dismissed wtth a niling
<br /> '� that,in I.ender's good faith determinution, precludes forfeiture of thc Borrower's interest in the Property or other material +•,
<br /> � impairment of the lien created by this Security Instrument or I.ender's security interest. Borrower shutl u�so be in default lf a:
<br /> Borrower,during the loan application process,�ave materially false or inaccurate information or statements to Lcnder(or failed
<br /> to provtde Lender with any mflterial information)in connectfon wlth thc loan evidenced by the Note, including.but not limited
<br /> � to. representations concemins Borrower's occupancy of the Property as u principal residence. If this Security Instrument is on a
<br /> � leusehold, Borrower shall compty with all the provisions of the le:s�e. If&►rnower acquires fee title to the Property, the r�,
<br /> �' leasehold and the fee title shall not merge unless Lendcr a�rees to the mcr�er in writin�. :
<br /> " • 7.ProtecNon of Lender's Rights in the Property.If Borrower fvls to perform the covenants and a�reements contained in '
<br /> �\ this Security Instrument. or there is a legal proceeding that muy significantly uffect C.ender's ri�hts in the Propecty (sach;es a
<br /> ''i pro��ing in bankruptcy. probate,for candemm+tion or forfeiture or to enforce laws or regulations), then Lender may do and
<br /> " ' pay for whutever is necessary to protect the value of tue Property und Lender's rights in the Property. Lendcr's nctions may
<br /> Include pBYltlk t1�1Y sums secured by a lien wh(ch hus priority over this Secudty Instrument, uppearing in rnurt, payin�
<br /> rcasonabie nttorncys'fees:u�d entedng on the Properry to maxe repairs. P►iceougn i.ender may caice acnon unaer�eis paragrapn
<br /> �. 7,Lender does not have to do so.
<br /> � Any �unounts disbursed by Lender under this parngraph 7 shull become udditionnl debt of Borrower secured by this
<br /> • Security Instrument. Unless Borrower and Lender a�ree to other terms of payment, thcse amounts shall bcar interest finm thc
<br /> ' .. date of disbursement at thc Note rnte and shall bc �yublc, with interest, upon notire from Lender to Borrower rcquestin�
<br /> payment.
<br /> - S.Mottgage dnsurance.If Lender n�quire�mortguge insurnncr.as a rondition af m�ilcing the loan s��;urcd by this Security
<br /> instNment, Borrower shull pay the premiums requireci to muintnin the mc�rtguge insurunce in effect. It, for uny rcason, the
<br /> ' � mortguge insur.u�ce cbverage re�uired by Lcnder lupses or rea,es to be in effect. Barmwer.hell p.�y the pmmiums r�equircd d�
<br /> ���� obtain rnveru�e substsu�tiatly equivulent to the mnrtgugc insurance previously in effctit,ut a cost sub�tantially equiv:ilcnt to the
<br /> mst to Borrower nf the mottg��e insurance pmviou�iy in effect, from an ulternutc mongage insun:r approvcYf by LrnJer. If
<br /> , vaa.a o+a Form 3028 9190
<br />
|