|
. • •• .. cC •rp n-•--. . 7�r'i�; , ,. �r . _ .
<br /> � +we► --°•. � �''����� '� ���, ��--
<br /> ......,�. `�—
<br /> �-::. • • —
<br /> — —
<br /> --- __-_ _-- �
<br /> ,. .�, .___
<br /> _.._
<br /> . .�:., - --
<br /> �����
<br />�.: =�;;:� �'�a�i.�►•�'r+��?t =��.
<br /> ,�. , ., . ,; --
<br /> �..�n:.•,_.� • �.o�..
<br /> -- t. i'�yr�rnt uf M'r�nci�r�'�,Y�etrre�t aiid fi,s�tc t'i�s+rur. 11�;�,��k•c�•�Ir.+ii p.►y u,t�.,;uu.�Ii:,.r�.:�:«:,.,►��c;:,�;;;f�.�.•�., <<.�,, _ '
<br /> t1�r�{ctx evi�irix:td hy thc idatr,xikllkte cl�arj��s dur underthrMc►tc. • _
<br /> 2. 112ue�lhi;�pr+yarentr r�"t�axrr,Xn�ur�r�re�nd rt)tber('hrr�w. }�arrowtr�ftdl�ia�cfudc in cxch ir�.►uth�y��►ymcnt,
<br /> � togaher wlth tha pnnciprl�nd inkrest aa ut funTn in �tx Nou nn6+�ny►ate chnr�t�,�n inr�rllma+t uf any(s)wieK�ond —
<br /> - spe�IMI ASVtGtiPI1ft11S ICYII'l�Ili!tl I1C ICYI�II NxAtQ51 lI'!C Pttl(7�Ily,ih)le�sehcild�yme�i!s cjr Rmund rent���n tfie 4'mperty,�md —
<br /> • _ - - ' (c)prr.mium�a fiyr i,irwa����sGyui,.:.3 t.y:...,:�...r���. ,:
<br /> �ch nxx►thly inst�llinent fnr it�ms (�). Ib) uid lc1 sh�li eyud ane-twe{[th e►f the �nK►uui �aunls.� rr,axcwubly .
<br /> � estimated by I.ender, pluy nn rmount Fufpcirnt to m�aintein sui acldlti�nal t�lanca of ncx m�m eh+in ex�•sixth of the
<br /> e�timNtal Amoun��. Che full �u�nus�l amnunt for cnch fum shbfl be raccurnulated by Lcnder within u period ending�
<br /> munth beicxe Nn item wouW beccxne cklinc{uent. 1.�r�dKr shall h�ld tho umounts coltected in tnrst to pay itemc(�), (b)�und
<br /> (c}bcfore thcy b�come eklinyuent.
<br /> If at wiy timo ttx�totul of thc paymentR held hy Lender for ltems(n),(b)ancJ(c?, toRether with trc taturc mmthly
<br /> --- - - -- paymc3nts for sush item:i payablr_to Lendtr prier ro the dnc dntes of such items. excesds by mor�thws one•sixth the _ _
<br /> estimatul amaunt of paymrnts rcquired ta pay such item9 when duc,snd if paymcnts nn the Note arc curr�nt,then l.ender
<br /> sl�eil cit6er re;fund the excess nver one-sixt h nf the estimated paymants or crcdit the excess over�aix-sexth af the estimated
<br /> payments¢o subseyuent puyments by Borcu�wer,at thc option of Honower. If the total of the paymant�mude by Borr�wer
<br /> C�r item(u).(b),or(c)is 3nsuf'ficient to pay the itena whcn duc,thea�Borrower shall pay to l..ender viy antount necessary to
<br /> mnke up!hz deficiency on or before the date the itGm brcomes due.
<br /> As used in Ihis Securit�[nsuument,"Sscixteuy"mewis thc Seci�etury•of Housing and UrbAn I)evatopment or his or her _
<br /> � designec. In nny yenr En which the Lendcr must pay o mongage insurance prcmium to thc Secntary,cach mon�.hty payment
<br /> = shsp atso i��ctudc cnth�:: (i) n.-� lnstsillr:ler.t of the �nn�!al m�ngRge insurnnc� pnmium �a be Raid by I.ender to chc
<br /> Secretary,ar(ii)a monthly charge instead of n rnortgn� insurznce premium if this Security Tnstn�ment�s h�id by the
<br /> Secrctary. Each monihly installment of the m�rtgabe insurance premium shalt be in an nmounc sufficient to accumulate tho
<br /> full nnnuAl mortgnge insuronce premium witt� Lender one month prior to ihe date the fiill ar.nuol mortgnge insm•wicc
<br /> pnmium is due tn the 3ecretary; or if this S�curity Inspvment is held by the Secretary,each monthly charge shall be in nn
<br /> ---i emount e.qual to one-twelfth of one•half percent of the outs[anding princlpnl balance due un the Note.
<br /> ' If Dorrower tc�iders to Lcnder thc full paymcnt of nll sums secur�d by this Securily In�uument,Boaower�s ar.count
<br /> , shall be ci�edited with tha bal�utce remainins for all installments for items (n),(b)nnd (c) wtd any mort�agG insur,+nce
<br /> , premium i�istallment that I.ender has not become obligated to pay to the Secretary.:u�d Lender shall promptly refund any
<br /> excess funds to Borrower. Immedintely prior to a fo�closure sale nf the Property or its acyuisItion by l.ender.Borrower�s
<br /> account shall be credited with any bulance cemnining for al!instullments for items(a),(b)and(c).
<br /> 3, App{ictftion ot Payments. All payments under Paragraphs l and 2 shall be applied by Lcnder as follows: __
<br /> -- �g,�,to the mortgaIIe insurance premYUm to be paid by Lender to the Secretary or to the monthly c6asge by the __
<br /> -�--- - Srcr�tarv insteud of the mon�hlv mortRa�e insurnnce premium; —'
<br /> ��Q�{,�,tu any tuxes.speci�l assessments,leasehold payrnents or ground rents,a:�d nre,i�ood and a�ii�cr i�uu+ici
<br /> ---_ insurana:premiums,asrcquired;
<br /> --_ -_ — �j,,to interest due underthe Notc;
<br /> _���' FQURTIi,to umortization flf thc principal of the Note; -
<br />---—_ — ��,to late chnrges due under the Note.
<br /> -- =�=y: 4. Fire,Flooti und Other Hnzard Insurnnce. Borrowcr shall insure all improvemenu on the Yroperty,whcthernow
<br /> -_��Y�; in existence or subseqaently erected, against any hazazds,casualties,and contingencies,including fire,for which I..ender
<br /> _ v .��,,,� � requires insurance. This insurance shaU be rnaintalned in the amounu a�id for the periods that Lender requi�s. Borrower
<br />- �"`=`����— shaq also insure ali improvements on die Property.whether now in existence or subsequendy etvcted.ngumst loss by floods
<br />_�_—h;-�fi.zQ.s�•, ,
<br /> • -.:��:��-i to the extent requimd by the Secmtury. All insurance sball be carried with companies approved by Lender. The insumnce
<br /> ,,��f:c� policics and any renewals shall be hcld by Lcndcr and shall include Ioss payable cluuses in fnvor of, and in u forrn
<br /> ��� acceptuble to,L.ender.
<br />°`�—s".��`' I In the event of loss,Bortower shnll give Lender immediate notice by mail. Lendcr may make proof of loss if not
<br /> "�"��'�-""'I made prompdy by Borrower. Each insurance company concemed is heceby authorized and directed to make payment for
<br />•_°�'="`�'''�"�-'�� such loss directly to Lender.insteud of to Borrower and to Lender jointly. All or any p�rt of the insurance proceeds may bc �
<br /> l'*=�"•��'-�-'-���'� applied by Lender,at its option,either(al to the reduction of the indebtedness under the Notc 1nd this Secunty Instrument, �,__
<br /> _=`=�'��'�';� first to any delinyuent amounts upplied in the order in Far.+g��ph 3,and then to prepayment of principal, or(b) to the .,,._
<br /> ��� '�'+��t restoradon or re a�r of the dmm� ed ro en An a Lcation of the roceeds to thc� nnci al shall not extend ot postpone '-�='`
<br />__:���w��j•.. p � P P , Y• Y AP� P P P --_�_.
<br /> - �.4Arr��. die due date of the monthly payments which are referred to in Paragraph 2,or change the amount of such paymen�s. Any __
<br />�'�ti.:.`.`� w��_;;�'<,'• excess insurnnce proceeds over an amount required to pay al! outstanding mdebtedness under the Note :u►d this Security �
<br />_- � � �1�,: Instrument shall be paid to thc entity legally entitled thcmto. �'�___
<br /> _-�,';:,• � ;��: In the event of foreclosure of this Security lnstrument or othcr transfcr of titic to the Propeny that cxtinguishes tl�e �i
<br /> J•L- � ``� indebtedness,xll right,title and interesc of Borrower in and to insurar►ce policies in force shull pass ro the purchaser. r;;�';
<br />.:;f"` -�f • " � S. Occupancy, �eservation, Ma[ntennnce and Pratectfon of the Property; Borrower's I.oAn Application; ti,,;;
<br /> ��• �';� " • ���.� Leaseholds. Borrower shall occupy,establish,and use the f'roperty us Borrower'.s principal msidence within s�xty days
<br /> -,� �•''�`� aRer the execution of this Security Instrument and shall continue to occupy the Propeity as Borrower�s principal residence
<br /> -- for at least one year after the date of occupancy,unless the Secretnry determines this requ�rement will cause undue hardship
<br />-"�°:," " . for Borrower, or unless extenuating circu�istances exist which are beyond Borrower's• control. Bonower sha(I natify ,,. ;
<br />,�,ts" •�. .. Lenders nf any extenuating circumstances. Borrower shap nat commit waste or destroy,damage or substantially change
<br /> the Property or ullow the Property to deteriorate,reasonable weur and tcar cxcepted. Lcnder may inspect thc Property if the
<br /> • Property is vurant or abandoned or the loan is in default. Lender mny take reasonuble action to protect and pmserve�uch
<br /> � • , vncant or abandoned Property. Borrower shaU also be in default if Borrower,during the loun application process,save
<br /> ` � ' materinll�r false or inuccurate informntion or smtements to Lender (or failed to provide Lender with any matenal
<br />' :'-� information)in connection with tlte loan evidenced by the Note,including,but not limited to,n:presentutions conceming
<br /> ��� � ,� Borcower�s occupancy of the Properry tu a pr��cip�l residence. if this Sccunry Instrument is on a leaschotd,Dorrower shnll , �_.
<br /> '`•'�f�3;��.,:....��. -
<br />_'y��=r��,�.�:^::._ comply with the provisians of the lef+se. If Borruwcr acquires fee titte to the Property,the Ieusehold and fee title shall not j.,,,,•
<br /> � ��°.� be rr►erged unless Lender a�rees ro the merger in writing. ��•.
<br />'--.. , . � 6. Chnrges to Borrower and Protectinn of Lendcr's Rights fln the Property. Borrower shall pay aU govemmental
<br /> �.�^�.•'..-:�y^�, or municipnl charges,fines:u�d impositions that tve not included in Faragraph Z. Bornower shu�l pay these obh�ations on
<br /> time dimctiy to the cntity whicl�is owed the payment. If failurc to pay would adversely affect Lender's intcrest in the
<br /> � ' ......1 0...1o.'a.,o,...a�.n�n.,�,Pr�hAu nT„mntiv f�rni�h[o Lender receints evidencin�these payments. .
<br /> �._,._�-.- -'_ ..
<br />-_ .. .-. �-�-. •rvrvuj�vpv.................ry..�..'__"___'"'_'�"..
<br /> �� � If Borrower fails to mnke thcse payments or t'he payments requic�ed by Paragrnph 2, or fails to perform any other
<br />=. . �° ' covenants nnd a�ments contmined in this Security lnstn�ment,or therc is.�Iegal pcoceeding that may s�gnificantly affect
<br /> Lender's rights in the Praperty (such�u a proceeding in bankruptcy,for condemnauon or to enforce laws or regulations),
<br /> " .; then l.cnder may do nnd pay whatever is nccess:vy to protect the valuc of the Froperty and Lender's rights in the I�roperty,
<br /> including payment of taues,l�azard insurnnce and other items mentioned in Parngraph 2.
<br /> � Any nmounts disbursed by Lender under this Pura�r�ph shall become an udditional debt of Borrower and be secumd
<br /> . by thie Security U�swmcnt. Thcsc :unounts shall bear mtcrest from the date of disbursement, at thc Notc rate, and at the
<br /> -- option of Lender,shall bc immcdiately due and payable.
<br /> � �, � 7. Condemnatton. Tlne proceeds of any awarcl or claim for damages,direet or consequential. in c�>nnection wiih any
<br /> condemnation or other tc�Cing of:u�y part of the Property.er for conveyance in place of condemnation,are hemby�,signed
<br /> ' nnd shall bc paid to Lcndcr to thc extc�it of the full amount of the indebtedness that remains unpaid under the Notc und this
<br /> ;' Security Insuument. Lender shall apply sucl�procecds to the reduction of the indebtedness under the Note and this Security
<br /> •�"° �'� Insttumcnt, first to :►ny clelinyucnt amounts upplicd in the order provided in Puragr.+ph 3. :u�d tlten to pmpayment of
<br /> �� '; � principal. Any application of the proceeds tu the principal shall not extend or postporte die due date of tlie monthly
<br /> � ' Uw,�e2nja�w�ea1
<br />
|