|
. . ,:rr, . . .
<br /> . . . . a... t - ..... a.___
<br /> :.w� . .. - �6:{i.. .. - .. ' .� ..._ ""..'
<br /> ,. ,.�t�f�L.� :+, , ., . ,.,��,�� ,, - . ' .. • . n:��p-.r.a+w�a+---=_--�"v�_-..
<br /> .5��,� ' ' . . y+}}'_�! }�n � . - ' .� �. _. y. , :�.ia.-:
<br /> �.�� ' .. r�w • '• ` . --- 4�L_ +n.l�>..a»'� ! _ . .. —�--�1%,F��i� �
<br /> ._. _... ...�...._._ �^!tY -Z� _ ...__
<br /> , � - - .. t�_��..... .�����_ �•_
<br />�r-!. .. `__.__..
<br /> ,�9 4-�1.Q�'�6S =:-_..,�_.
<br /> Thc Funds shall 6c hcld in an imtitutinn whosc dcposits arc insurcd by n fcdc;al abency, instrumcntality, nr cntity ,..� ,*�-�_--
<br /> (includin� I.cncicr, if l.cndcr is such �m institutian)nr in any Fedcrul Hnmc I.o�n B;�nh. t.�ndcr tihall apNly thc Funds tn�ay thc ' -
<br /> , _.._.
<br /> , � , F.ticruw Items. LcnJcr may nut charptc Il�ttrowcr ti�r halilim;,in�i applyin�tlic Funds. :�nnually.in.ilyiintt thc csc�•uw;iccuunt.ur ..___...
<br /> vctifying thr Escrow I[cnts. iu�lcss I.cndcr pays tiorrowcr intcrest on thc Funds ar�d�pplicablc law permits I.c�tJcr tu make sucli ,,:.:,,W-_--���
<br /> u rhargc. Hawever, l.cnder muy rcyuirc Uorrowcr ta pay u onc-time chargc f'or an indepenJcnt rcaf cstatc tax rcporting scrvicc ��;,,�.;,==_;"
<br /> uscd hy l.ender in connectimi witti tl�is li�ao, unleys upplicablc luw providcs othcrwise. Unlcss un ayrcement is m.�dc ��r �___�-
<br /> applicaiblc law rcquires intcrcst tu bc paid,l.endcr shall nut bc rcquirul to pay Hi�rrrnvcr�my intcrest or carnings on thc f'unds.
<br /> Bnrrrnvcr und Lcndcr may agrce in �vriting, howevcr, tliat mterest tihull bc paid on thc Funds. l..�nder sh��ll�ivc to llorrowcr, ��_T�_•'_����^
<br /> �vithout chargc, un annual accounting of thc Funds, sho�ving crcdits anJ debits to thc Funds and thc purpusc for whlch cach __ �
<br /> debit to the Funds was made.The Fund�: arc{►Ied};ed :+�additionul security f�r ull �umti securecl h this Securit Instrument. ° �`
<br /> Y Y �...,..-_::_.�'`--_—
<br /> „ ° If the Funds held by Lender exceed the amounts pennitted to be hcld by upplicuble law, Lender sh�dl account to Darrower ���-
<br /> � . ti�r the excess Funds in accardance with tl�c requirements of upplicable law. If'the umount of the Funds held by i.ender at nny
<br /> timc iti not sufTcicnt to pay the Escrow Items whcn duc.Lcndcr msy so notify Borrowcr in writins,ar►d,in such casc 9orrowcr ��Y�^
<br /> • shall pay to L.endcr thc amount neccssary to makc up thc dcficiency. Borrower shaU make up the deficiency in na more than _ ___ _ _
<br /> twclvc monthly paymcnts, at Lcndcr's solc discretion. ��=�
<br /> ,;-.-
<br /> Upon pnyment in full of ull sums �ecured by this Security Instrument, l..endcr shall pramptly rcfund to Bormwer any '�,�,�:��.;_
<br /> Funds held by Lender. If, under paragr�ph 2 I,[.ender shull acquire or scll the Propeny.Lendcr, prior to thc acquisition or sale �;;:;��:_----
<br /> . of thc Property, shnll apply any Funds hcld by Lendcr at thc timc of acquisition or salc as u cralit aguinst thc sums saurcd by �??�_.:===--—
<br /> ��r....-�---
<br /> this 5ecurity Instrument. �"'°"""=`
<br /> 3.Applic.utlon a�Y Payments. Unless upplicablc law providcs othcrwise,all payments reccivcd by L.cnd�r undcr parasraphs �'A-- _
<br /> F�. �
<br /> 1 and 2 shall b�applied: first, to any prepayment charges due under the Note: se.cond, to umounts payable under paragraph 2; �}��;^�'�'�
<br /> ° third,to intcrest duc;fourth,to rinci al due:and last,to an late char es duc undcr thc Notc. �"{���L�
<br /> u.=--
<br /> p P Y B `.•�,�ilai,:�'
<br /> ;.._�
<br /> 4.Chnrg�; I.iens. Borrc�wer shall pay all taxes,assessments, charges, fines and impositions attributnble to the Property 1z�,����--------
<br /> •� � which may uttuin prioriry over this Securiry Instrument, and Ie.�.sehold payments or ground rents, if any. Borrowcr shall pay .`_''"'-------- -
<br /> thesc obligations in the manncr provided in paragraph 2,or if not paid in thut manner.Horrower shall pny them on time direcely ��F�:_ _______
<br /> to thc person owcd payment.Borrower shall promptly furnish to Lender all noticcs of amounts to be paid undcr this paragraph. ��'=:rr==
<br /> If Borrower mukes these puyments directly,Borrower shall promptly furnish to L.ender receipts evidencmg the payments. `°--
<br /> •• Borrower shull pramptly discharge any lien which has prioriry over this Sccurity[nstrument unless Borrower:(a)agrecs in A=a,��_:
<br /> writing to thc payment of thc obligation securcd by thc lien in a manncr acceptublc[o Lender: (b)contests in good faith the lien '�°-�°
<br /> by, i�r dcfends against cnforccment of thc licn in, legal proceedings which in the I.ender's npinion operate to prevcnt the �-�_
<br /> enl'orcement of the lien:c�r (c) secures from the holder of the lien an u reement satisfacto to Lender subordinatin the lien to
<br /> • `s� __�_-
<br /> P rY E L..1;�:�',.G-.
<br /> this Security Inswment. IP I.ender determines that any part of the Propeny is subject to a lien which may attain prioriry over .:-.-�,,�___
<br /> , this Sccurity Instrument. [w�ndcr muy givc Borrowcr a noticc identifying thc lien. Borrower shall satisfy the lien or takc one or _ •:;u�"`---
<br /> morc of thc actions set forth abovc within 10 days of thc giving of noticc. '�ti'�-
<br /> S. Ha�ard ur Property Insurance. Borrower shall kcep thc improvemcnts now existing on c�rcaftcr crcrtcd on the
<br /> �� Property insured against loss by fire, hazards included crithin the term "extended caverage" and any other hat.�rds, including �°'�
<br /> Floods or flooding, for which L.enJcr reyuires insurunce. This insurance shall be maintained in the amounts and for the periods .
<br />--- ------�- - � -- - iiiai L.i:. �__ • �rG_ • • r .w ` ..ti..:� �::ti I. A�.��..�P cul-,iorr �n rndrr�car�rnval e��_ -_�-
<br /> - -- --..- _,_... , • .. :..... L
<br /> �iuc� �ct{u�ii:5. �uc i�.`,i3i'uiiC�:ul"Ti�i �:.i::'.'2:,i�ib� �. uiou�li�C ., u ' C':^.:S .� . T ....�.." "'--'
<br /> which shall not be unreasonably withh�IJ. If Borrowcr f'ails tu maintain coverage describcd above, Lender may. at Lender's ���� ' �-��
<br /> option,obtain coverage to prntect Lender'+rights in the Propeny in�crordnnee with paragruph 7. q :;.;.
<br /> All insurance policies and renewalti shall hc acceptablc to Lender and shall include a standard mortgage clause. Lender Y ,: `�: •
<br /> . shalt have the right to hold the policics and rencwals. If Lender requires,Borrower shall pr<�mptly give to Lender aU receipts of .° .�.';
<br /> paid premiums und renewal notices. In the event of luss,Borrower shall give pi•ompt notice to the insurunce carcicr and Lender. . u�
<br /> Lender may make proof of loss if not made promptly by Borrower.
<br /> Unless Lcnder and Borrnwer othcrwise agrcc in writing, insurance procecds shall bc applicd to restoration or repair of the
<br /> Propeny Jamaged, if the restoration nr repair is economically feasible and Lender's security is not Iessenal.If the restomtion or • -
<br /> repair is not economically feasihle or Lender's security would be Iessened. the intiurance proceeds shall be applied to the sums • ;
<br /> �� �ecured by this 5crurity Inytrument.�vhether��r n�t then due�, �vith any excrtiti paid a� Borrower. If Borrower xbandons thc
<br /> Propeny, or dueti not answcr �sithin 30 day�a ncnirr frum l_cndcr that thc insuranrc rarricr has aflcred to settic a claim,then � �� •
<br /> Lcndcr may collcct thc insurancc prncccJs. Lcndcr may u�e thc prorrcds tci rcpuir ur restotc thc Property or tu pay cums , •�
<br /> secureJ by thix Security Instrun�cnt.whether ur rn�t then Jue.The 30-day period w�ll hegin when the notice i+given. '�
<br /> Unless Lender and Bnrro�ti�cr uthenvise agrce in writin�,, any appliration uf pruceeds to principal shall not extend or � '�"� ...,�.
<br /> postpone thc duc date uf the munthly paymcnts rcfcrrcd tu in paragraphs 1 :mJ 2 ur change the amount of the puyments. If � . -��•—
<br /> tmdcr paragraph 21 thc Rroperty is acyuircJ hy Lcndcr, Borrowcr'x right to any insurancc polici�s and procceds resuhing from � �;. '" �•�.�
<br /> , damage to the Prupeny prior to the acyuisition shall pass to Lender to the extent of the sums sccureJ by this Secarity Instrument � � �
<br /> •,, immediutcly prior to thc aryui,ition. �--
<br /> � 6.Occupuncy. Preservntion, l�faintenance and 1'rotection of the Property;Bocro«•er's Luun Applic�tiom,Len+ehulds. �� "T�
<br /> � Borro�ver shaU occupy,estahlish.and usc the Property as Borrowcr'x principal residcncc within sixty days aRer thc execution of
<br /> this Security Instrument and shall runtinue tci ucrupy thc Prcipen}� ati Borrower's prinripal residenre ti�r ctt Ieast onc yelr after '�
<br /> the date of occupancy, unlrss l.endcr otherwi�e agmc�in �vriting, which ronsent tihall not he unreasonably withheld.m• unless - ' �.
<br /> extenuating circumstances exi�t �vhidi are beyonJ Borrower's control. Barrc�wer shall not destroy, dam:�ge i�r impuir the ,� ��'�'F;
<br /> Property. allow thc Propeny tci deteric�rate. or rommit �va�tc on the Property. Borrnwer .hall Ne in default if a�iy forf'eiture ; .��
<br /> ac�ion or procecding. whethcr rivil ur rriminal, i�brgun that in Lendcr'�guod faith juJgment ruuld result in forfciture i�f the
<br /> Prc�perry or odurwisc matcrially impair thc licn�:rcatcd by thi�Seruriry Instrumcnt or Lcndcr's scrurity interest. Borrowcr may �K+
<br /> cure such a dcfault and reinslatc.as pruviJcd in paragraph I8. h� rauxing Qic artiun rn�prucecding to br dismisscd with a ruling . �,�'
<br /> that, in Lcndcr's gooJ faith ctrhrtuination, prcrludrti furfciturc uf thc Burri�wcr's intcrest in thc Property ur othcr mutcrial •
<br /> imp�inncnt o! thc lien rrratcci hy� this Sccuriiy Imtrumrnt or Lendrr'ti ,ecurity intrrest. B��rmwcr shall cd�o hc in drfault if s'
<br /> 8orruwcr.during thc luan applicatiun pr�xe��.�.a��c matcrially f'al,c or inuccur�tr infurmatiun ur tit:ucmcnt�tu Lcndcrlor failcd � �
<br /> to provide Lcnder�vith any ntatrrial intiuma�ionl in runnrcti��n«•ith�h�luan eviJenc��cl hy the Note. inrluding.hut nut limitrd "
<br /> , to, repre�cntations cun�rrnin�: B��rrc�wcr'ti urcupanry uf thc Ymperty ati a prinripal rcsidenrr. If thiti Srrurity Intitrumcnt i,un a � , i.
<br /> � Icasrhold. Burrowcr tihall ci�mply with ;dl thr provi.iun+ ��f Uic Irax. If Burruwrr :rcyuirr� f'rc titlr t�� Ihc Pru�xrt�•. thr �
<br /> Iwschold and thc t'ee tiUc tihall not mcr�c unlc,s L.endcr agrces to thc mcrgcr in writing. ,
<br /> - . 7.Protection of I.endcr's Ri�;hts in the 1'r�nperty.If Burro�vcr fails to peri�omi thc rovcnants and agrcemcnts rcmtaincd in .
<br /> this Srcurity lnstrumcnt. ur iherc is a Irgal procredinE that may signifirantly aft'e�t Lcndcr's rights in thc Property I�urh a�a i {�I _
<br /> „ procr��ling in bankruptcy, pn�bate, fur rondemnatiun ur furfriture or tu rnti�rcr laws ur regulatiunti). thrn LenJer rnay du and
<br /> „ pay fur whatever is necessary to protert the ��alue cif the Prnpeny and Lender'S rights in thc Praperty. Lendcr's aciiun�may , ���±
<br /> indudc paying any ,wm ,erumt by a licn whirh has priuriry �ivcr thia Srcurity In�trununt. appearing in roun. pa�•ing . �_�
<br /> ..._...-.. .. —.---.- fl`.ItiUll:lnll':I1I01'Ol`y'ti Ittiti 8IW entering im me rrc�pen}•u�mai:e repairs. nimuugn i.enacr m:w �.tKl•.tctiun urnict ii�i���a�a�;i.�jiii � - , �
<br /> 7,Lendrr Joc�not havc tu do w.
<br /> Any antuunt� disbttr���f hy [.cnd�r undrr thi� paragraph 7 ,hall hrcunm addiliunal drht ul Burr�����cr ucural h� thi� :�
<br /> . , Sccurity lnstrument. Unlrsti Burro��cr unJ Lrndrr xgrer tu othcr trrnu�,I'paymrnt, thr,c annwnt� �liall hcar intrn�I tn,m thr
<br /> . date ol' di�burscment ai Nu Nutc rauc and ,hall hc payuhlc. ��•fih intrrc�t. upun n�,tirr I'rum Lrndrr a, Burru��rr nyur��in�: l
<br /> � paymcnt. 1
<br /> 8. 111ort�a}!c Insur�ncc. If Lcudrr reyuirrd murtgagr imuranrr a�a c�mdniun ul makin�.thr lo,tn ururcd h� thi�tirrurity . ,
<br /> � In,trumrnt. B��:ru�vcr .hall p:ry ihr prrmiunu rryuircd t�� m.iintain thr nx,rtgagr inwianrr in ellcrt. It. I�n• any �r:i,��n. thc �
<br /> mortgage in�arancr r��vcragc rcyuircd hy Lrndcr I;ip.e��,r�ra+c�t��h� in rlfrrt. fiurru��•rr .hall pay� Ihc prrntium. rcyu�rcd ti,
<br /> ( uhtuin cuvcr.igr.ubst:uiliallq ryuiv:dcnt lo thc mort�:agr in+uranrr prrviuutil� in cll�rt, at a cu,� ,uh�tanti:dl�•ryufvaknt w thr .
<br /> - co.t tu E3�,rn,��•rr ��(lhc murtga�;c iusuranrr prr�•io�i.lp �n ctfrrl, frum an altcrnatr murtgaEr in.urrr apprm•rd h�• Lrn�lrr. U �
<br /> �
<br /> • I
<br /> � ,..,.,,.l,.�.� Form 3028 9i90 ' - I
<br /> :.1 ' ' i
<br /> '{
<br /> , � . .. .. 1 �
<br />
|