|
� . . . . ,:;:• :; ,. . ;°"�
<br /> T.� ��
<br /> .. .�e . '• • �..�..._..
<br /> Y� •
<br /> � - i�M�ll1f,. � . " � . .��y�i . . t �_._.
<br /> . � �s�Q�
<br /> ���1' n '. ' . _ .�.._.....�._��a.�l. y, __.
<br /> �f '�/� `t _.'=.t�liG1111�_''p'�
<br /> _ _ ^4��IIOL1.'., .•.r��.,- . ... ��., ---'-__._._.._�.- --..._. � . ., •
<br />�. '�'` 'vei' c �..r..---�--`---......... ._ ---•---' � �1r -- - .� `_
<br /> � , . . .�v T �llaY�6Y� Y� • - - - r
<br /> :-�.'h:..-
<br /> • „ Thc 1'uncl: tih;dl hc hcld in nn in�+titutiun �vhosc dcpusits arc in�urcd t�y a fcilcral agcncy, ins�rumcntal�ty. nr cnt�ty ` . -
<br /> (inch►din1; I.�ndrr, if I.ci:dcr{s tiurli an in�iituli�ml ur in nny I'c�lcr.d Humc I.��an 13nnlc. I.enQcr shall i�pply thc fun�s����►ny thc : ,�z-j.;.
<br /> ..:,.�-
<br /> � liticrov�Itcmti. IAn�lcr nriy nul char�tc liu�•ruwrr Gp•hnldin�� �md�ipplyin�:Il�c I�uuds. annoidly :�nrly�init ihcrr,crnw nrcu�ml, ��r ,A•:
<br /> ' . vcrifyln�Iltc liscr�►w Itcm�. unlcss l.c:nd�r p��yy Uurruwcr intcrctit un�hc I�undti and apI�lirahlc la�� prrmii�,Ixvidcr Ui iunhc�,u�:h :. ,_
<br /> a ciu�rl,c. I1�»vcvcr. Lrndcr m:►y rci uirc Ilurrn�vcr w pay n �n�c-Iimc chnr�,c tbr un in�tc{��ndcnt rcal cytute mk icp��r�Ai�t ycrvicc
<br /> uycd by I.�ndcr in connccti��n wii�i Ihf� lu,in. wilc" i�p��lirublc I�iw pruvidc, rthcrwiyc, Unlc..r nn u�r�cincnt Iti m:ulc ur ,. ,
<br /> n��pllcililc Inw rcqufrc.r Inicrctit�u hc p.iiEl. I.cn�lcr yhull nnt hc required tu�iay Iiarru�vcr:ury h�tcrcyt or camin�}��m Ihc {�un�ls. °
<br /> . Ifurra�ti•cr nnd lxn�lcr miry n�rcc in writU�g. howcvr,r, Umt inicrc+t tiliall hL p;dd un thc I�und�. IAndcr +hnll i;lvc ta lin►ruwcr,
<br /> P p .,.n�,e,�•..;-
<br />� , , witl�i�iit chnr�Sc, w� nnn�ud n�counNn}t ui thc f�un�lti, �huwing crcJits and dcbits to dic I'unds nud thc ur o,c for wldch cuth _
<br /> ` �Icbil tu thc 1'uuds ti�;as madc. 'fhc F'uiidti c�rc plcd�!cd ns ndJiUunid sccurily tirr ull 4ums sccurc�l by thiy Sccurity Instrumcnt. ��-
<br /> If'thc Funds hcld by I.cndcr cxrccd thc nniounis pennittcd tn Uc hcld by i►pplirublc luw, I.�:nQcr:���all account ta l�c�rr„�vcr .
<br /> fbr d�e exccss Fuu.ls In accordmuc with the reyuirements nf npplfa►blc luw. IP the umount of'die Funds held by l.ender nt uny ,,�,r+�. ^y-"
<br /> �''.
<br /> ., titnc is niri tiufGcicnt to pay thc Escrow ltcros whcn duc,l.e-ndcr mcry so notify Horrowcr in wr+ting, nnd, in sucli ca�c Eiurruwer .::•..-Y
<br /> tihcdl piry t�� I.cndcr t�►c nuiuunt ncccssury to makc up thc �.icficicncy. Borrowcr shcdl makc up�hc dcficicncy in no m�rc Ihnn •a.�•:•l�T���
<br /> twclve numthly pavments,iit l.ender's solc disaretion.
<br /> � Upou puvntent in tull of ull sums secured by this Security tnstrument. Lender shull promptly refund to 8orrower any ,.;.:,�
<br /> Gunds held by l.ender. If, under par:�gruph 21, Lender shal t acquire or sell the Property, f.ender,prior to�he acquisitimi or sale :,,_,.,__�
<br /> � of thc Pi•operty, shnll apply any Fun�s hcld by Lender at the timc of acquisition ar sule us u cc�:dit against the sums sccurcd by ` .,���y,'.,�
<br /> this Sccuriry Instrumcnt. t�'�4`;��--"---
<br /> r.�:�ii�
<br /> 3,Appltcntlon oP Piiyments.Unlcss npplicablc la►w pravides othcnvisc,ull payments rcceived by l.endcr undcr paragraphs ,���.�-.���h ,�1
<br /> l and 2�huU be applied: Grst, to any prcp.ryment char&es duc uuJcr the Notc: sccond, to umounts payablc under parugraph 2; . �,.
<br /> third,to interest due;fourth,to principal duc; und last,to any late charges duc under the Note. ���;� -�
<br /> ' 4.Charges; Lfens. Borrowcr shall pay uU taxcs,nss�:ssmcnts, charges, t'ines und impositions uttributublc to thc Property I :.�,��Ky:,�r�-
<br /> which may uttain priority ovcr this Sccurity Instrument, and Ieaschold paymcnts or ground rents, if nny. Borrower shall pay '
<br /> :'�;�_y
<br /> � t}iese obligations in the m�nner providcd in paragraph 2,or if not paid in that manner,aarrativer shall pay them on timc directly �.��f��_��
<br /> , to[he person owed payment. Borrower shall pramptly fumish to Ler.der aU notices of nmount,�u be paid urxder this parugruph. '.; �a���.
<br /> � If Borrowcr mnkes these payments dirccdy,Borrower shall promptly fumish to Lendcr reccipts evidencing the paymcnts. �v--
<br /> � Borrower shull promptly discharge any lien which hus pnorny over this Security Instrument unless Borrower: (a)agrees in . �
<br /> writing to the payment of the obligation secured by the licn m a manner acceptable ta l.ender: (b)contests in good faith the lien ��k?.,°�h',:,,°
<br /> by, or dcfends agninst enforcement of the lien in, legul proccedings which in the Lender'ti opinion operate to prcvent the _�_y-���--":
<br /> enforcement of thc licn; or(c)secures from the holdcr of the licn an agreemcnt satisfactory to Ler�der subyrdinati p the�en to �:�-;�c��+.
<br /> • this Security instrument. lf Lende�determines that uny part of the Property is subject to a lien whicM ma attain riorit over �.:��-; +�T!
<br /> this Security Instrument, Lender may give Borrower a notice identifying the lien. Barrower shall satisfy thc lien or take one or ,:.;.��:�__—
<br /> �'''.u==-
<br /> more of thc actions set forth abovc a�ithin 10 days of thc giving of notice. -
<br /> 5. Huzard or Property Insurnnce. Borrower shull kecp the improvemcnts nrnv cxisting on c�rclftcr erecteci on the �•;1���...�`
<br /> Propeny insured against loss by fire, ha•r.�rds included within the tenn "extended coverage" and any nther har.ards, includin� -
<br /> floods or flooding,for which Lender crc�nr���vi i nrz the�insurance���hall bacl hosen by'Borroweres bjecttto�Lenderthe�Pp�o�d; � '`-o-, , �
<br /> -- - - —= ctl�[ I..ttn�cr �cyuiiE;. T:.� i�:;wr»::�C�».r._- r-. -- ? .�.r�ii� -
<br /> �' � ' which shall not be unreasonubly witl►held. If Aorrower fails to mairnain co��erage descrioed aoovc. LCIRtGI ���ay. at Lc�d�.': �yT��'
<br /> ' ' option,obtain coveragc to protect L.cnder's rights in the Property in uccorduncc with paragrap6 7.
<br /> . i';��
<br /> All insurance policies and renewsls +hull be ucceptable to L.ender and sliall include a standard tnortgage clause. Lender
<br /> shall have the right to��µa�tnotc esc�[n thc ev nt of lotis,Beorowc9 hall g8 crp W npt not Pe tophe s.surance c��r ier'and Lcitderf
<br /> paid prcmiums:�nd re�e ,
<br /> L+:r.der may makc pro��f of loss if not made promptly by Borr<�wer•
<br /> " Unlc+s I.endcr und Borrawcr othcrwise ugr�:e in writing. insurancc procecdr shall bc appliui to resroration or rcpxir of thc �
<br /> Property danutgcd.iF dte restoranon or rep;tir iti ecunumicuUy tcua�blo un� l.a:ttdcr'�+ecunty�4 nut Ic»encJ. ll thc rcywrutiuu��r ' ..
<br /> rcpair is not cconumir,dly fe:isiblc c�r Lendcr's security wauld be Iesscned,thc insuruncc prucccds shall bc applicd to the sums ,'� . n•
<br /> " securcd by this Sccurity (nstrumcnt. whether ur not thcn Jue, with uny excc�s pc+id to Qorro�vcr. If Borrowci abandons the .,
<br /> Properry, or does not answer within 30 days a notice from Lender that the insurancc earrier has��ffcred tc� ,etde a�:laim. then �,�,.^Y�
<br /> Lcndcr may collcct the in�uruncc procced+. I.cndcr may usc the prorccd+ tu rcpair ur re:+torc thc Propci�ty or to pay �ums r
<br /> � scrurcd by this Securiry Instrumcnt.�vhethcr or not then duc. Thc 30-day period will hegin whcu thc rn�ticc is givcn. _.,� ,�
<br /> Unless Lcndcr and Borrowc� othcrwisc ugrcc in writing. any applicuti��n of procceds to principal .hall not extend or ; � =�. Y
<br /> ' postponc thc duc date of thc monthly payments nf'errcd tu in pamgraphs I and � ur rhan�e thc aniount ��f thc payments. If , �
<br /> undcr paragraph ll thc Property is acquirc�i by Lcndcr, IIorrowcr's right to any insurancc pulicies and prucccds resulUng frmn ;�- � µ
<br /> '' damage to the Prnperty prior ro the acquisition shall pa�� to Lender to the cxtent af the sums secured by thiti Security Instrument
<br /> , � �,•�• imma:diatcly prior to the acquisition. �'�
<br /> G.Occupancy, Preser�'ation. lituintenance i�nd Proicction of the Propert�•: Borrower's Loun Applicntion;Leusehalds.
<br /> ' ' � � Bottowc;r shall occupy, cstablish,and usc thc Property as Borrowcr's prinrip:+l residcncc within sixty days aftcr thc cxccuti��n i�f , � -_
<br /> , . this Seeurity Imtrument and shall continue to occupy the PropertY as Born'wer'ti principal residence far at Icatit unc year after s�,� =__
<br /> � ' the date af occupancy. unless [.ender othenvi+e agrces in writing, whirh roment shull not be unreasonably withheld. ��r unletiti _ �, �-
<br /> " � • cxtcnuuting circumstances exist which are beyond Borrnwer's conirul. Boirower shall not dcstroy, damage ��r unpau' ►h� `1►, „• .�-
<br /> • Property, allow thc Property to detcrirratc, or commit waste on thc Pmpeny. Borrowcr shall bc in dcFault if any tiirfciturc ,,
<br /> � actian or proceeding, whether civil ur criminal, is begun that in Lendcr's goud tanh judgmcnt coulJ re+ult in forfeiture��f thc �
<br /> � Property or otlienvisc matcri;dly impair thc licn crcatcd by this Sccuriry [nstrumcnt or LenJcr'�security interest. Borr��wer may x'
<br /> � cun such a default und reinstate,as provided in paragraph 18, by causing[hc action or procecding ro be Ji�missed�vith a ruling • ��
<br /> thut, in Lender's good faith detcrntination, prccludcs turfeiture of thc Burruwrr's intcrest in che Property ��r othcr mutcrial ;�
<br /> � impairment of ehe licn cnatcd by this Sccurity Inst�umcnt �ir Lender'� sccurity intcrctit. Borrow•cr�hall alsu hc in dcfault if
<br /> Bonower,durimg the lo:m upplication pnxcss,gavr matcrially false or inaccurate inforniation ur statcmcntti to Lender(or failed ;+
<br /> to provide Lender«•ith nny matcriiil�ntorn�ationl in conncction with the loan evidenccd by the Notc,including,bttt not limitcd s
<br /> to, representttiont ivnreming B��rrower'ti orrupancy of the Propci�ty:+s a principal retiidencc. II'this Securiry[nstrument is on a (
<br /> Icaschold. Burra��cr �hall rumply ��•ith all thr �tti��•uiun•, uf thr I�a,r. If Burrnwrr aiyuirc� I'rc tiUc to thr Pn�pert�. the i
<br /> • . �� Ica,chold anJ thc f¢c tidC shall not tncrg�unl�,�I_cndcr ngrc��to thc nur�cr in writinp. i
<br /> 7.Protection of Lender's Ri{�,hGs in the Property. If Borrower fails to pertonn the covenants and a6recments�ontaincd in • ;
<br /> this Sec:uriry Instrument, or there is a legal procceding that may significantly affect Lender's rights in the Property (such as a � � i
<br /> proceedin� in bankruptcy, pro bate. for cun demna tion or forfeiwre or to enforce laws or regulations), then Lender may do and ; , t-
<br /> � pay for�vhatevcr is necessury to protcct the valuc of thc Property and l.endcr'ti riEhts in the Pmperty. Lcndcr's artions nzay i y ;
<br /> , includc payin�; any sums sccur�•ci b}.^���.��p p t,�yin� fn nt�{cPtMn I[.ti Alth u�hrl�endcrt�.iui�.ry�t kc�p�ti m�und�thiu par u:rapl � •� .
<br /> T __ . _ '
<br /> I'CA50I1.7bIC allOiilCyJ IcC�auu�na.�...�,.•..•••- ••-r_•.� -. , •-. .--.. -..
<br /> - 7, l.cndcr docs not I�avc to do sa. '
<br /> � • Any amounts disbursed by Lender undcr this paragr.jph 7 shall become additiunal debt uf Borrun•cr ururcd by thi.
<br /> � , S�ruriry Instrumcnt. Unless Borrowcr xnd Lendcr at*.rce tu uthrr temi+ uf paymcnt, thc�e amountti chall bcar i�ucrc.t (r�mi thc
<br /> ° datc of disbuncmcnt at thc N�nc ratc c�nd shall bc payablc, with intcrctit. upon nutirc t'ruin Lcndcr tu Borro��•cr rcyuc+ting
<br /> �� , payment.
<br /> "' 8.Ala-t�a�;e Insurnnce. If Lendcr n:yuiR�el mon�agc insur.ince.i�a cunditiim of making thc loan��=curccl by thi,S�rurity ;
<br /> . . Insuument. Borro�vcr shall pay thc promiums rcyuirc�i tu maintain Ih� murtgagC inwrancC In rtTcrt. It�. ti�r an} rca�un. thc
<br /> � mort�ugc insuranrc covcragc rcquinxl by Lcndcr lap�c�ur cr:uc. tu hc in cffcrt. Burc�m•�r.hall pay thr pr�ltliuniti reyulRtil to
<br /> obtain cuvcro�c substanaall}• �ymvalcnt tu thc munga�,e in.uranrc prcviou,ly in clf�tit.at a cutit�ub�t�mtiall}• cyuivalcnc tu tlic '
<br /> � „ . coyt to Bcirmwcr��F thc mortgage insuranrc pn:viuusly in rf(cct. fram an ahcrnatc mort�!�gr inaurcr appruvcJ b)• L�ndcr. 11
<br /> �., �
<br /> " � Form 3028 9/90 � �
<br /> ' �t��z�,��
<br /> _ I
<br /> t� ,
<br /> . -... . . .. _� '
<br />
|