|
. , �
<br /> ;;�. . :�:�
<br /> . ' . _,� ._ _�,�-_
<br /> �•, i�'�1.u�a1_-� � ' .�y,�.�. "�pq�;. � :., ,,., -.__.
<br /> � . . �fh=irw�l`%fr� .. ' , .. . . �. .�.- - .. . ' - i. . . �.. :NN�N+�Yn1��'�., r.'l�1:.. ..... .s_-
<br /> '
<br /> �.
<br />. . ., 1..��� �
<br /> . _ u � • - ..`..�_�.�� �-`..�w......i/-.a..�..�.�.�...J....��_.� ��'"_'_...'_""_—_._....�.._'_'__'—__._�......�_� __�__
<br /> ' �u.� ___
<br /> �� . .. rnai��
<br /> j-�;T�
<br /> ��'��"1�.Q�e: ���� q
<br /> . `' UNfFOAM COVENANTS. Bortower and Lendcr cavenent end eprr.o ne tollori�: , " ��4
<br /> •� ., 1. P�yyment n4 Prinelpal and Interest; pPOpayme�st nnd 7.a4e Chprgea. Bartower ohall promptty pny e�hen duo lhe :,.r•;�•_.
<br /> � �� princlpal of and Interest on tha debt evid?ncad by tho Nota and eny prepayment und leto charpea duo undcr the PJoto. ':::�;
<br /> 2� Fu19d8 foT Taxeb �nd (neuranCe. SubJect to appllcebta law ur to a�vrtten vreNer by Lender,Borrower ohell pay to lender on . L un� _
<br /> tho dey monthy paymente are due under tha Note, untfl the Note 19 peld!n fu�,e eum ('Fund�')(or (a)yesrly taxea end aeseasmsnta whlch �„_;.r�w-`v----
<br /> u -ee:,.,,,.
<br /> :, rnay nttcln prlodry ovu thla Sccudly Instrumcnt a� n Ilen on the Propeny; (b) ye2�ty leesehotd paymcnta or r,round renta orn Iho Property� :..:_ __
<br /> If en ; c ea hnaard or prapQrty Insurnnca reinluma; (d)ye�uty flood innurence premtume, il eny;(e)yeeAy martgage Nsunnce premlum�, �•. .�_�.+�_'''---
<br /> „ Y � )Y �►Y P
<br /> if any; and (�any suma payebla by Bortower to Lender,In nccordance with tho provislone of peragrnph 0, In Iieu ol the pAyment oi moRgnpe ''''_tt:;���: -�
<br /> Inaurance prem!ums. Yheso Itema ure called 'Escrov►Iteme'. Lender ma , at en tlme,colleCt and hald Funds In en amouN no!to excecd ' � -���`yX�'�
<br /> v y . ;�_,.__,_�___._—
<br /> the marlmum amount a lender lor a federaly retated mortgage loan may require for Bortower's escrow eccount ueder the Pedere! Reat �`'L`�a-.;,�,��14
<br /> Estate Sattlement Procedures Act of 1874 es emended irom tlme to tlme,12 U.S.C.�2601 et aeq. ('RE9PA'),unles� Snolher iaw ihat eppile�to ' '���,�'!r�s�n
<br /> �� �,t'�i�:'�"���
<br /> , tho Funda ccta n ies�er amount. It so,Lender msy, et eny time,coilect end hoid Funds in an amount not to exceed the lasaer amount. Lenda �:�:---,.�_,.;,�..,;,. __—
<br /> �� may astimete the amount of Funds due on the basis of cuRent data and reasonabte estimatos oi oxpenditurae ol tutu�•e Eecrow Items or othenwlse ''-�_��___
<br /> �,�- - _-- __- _
<br /> �a��
<br /> �- in accordance wlth epplicable law. ���� �
<br /> Yhe Funds ahatl be he!d (n an Institution whose deposlts are insured by a federel aflency. Inatrumentality, or entity pnctvdinfl Lender if Lender �'�;�=
<br /> a `aa:x��a.,.
<br /> . is such nn tnsqtution) or In any Federal Homa Loan Bank. lender shall appy tha Funds to pay tho Escr�ru Items. Lender may not charge �,r�_�
<br /> :r�`�,••-=--- --
<br /> Borrawer for hotding end appMng the Funds,annualty enalyzing tha escrow[sccount or verHyinp the Escrow Itema,unless Lender paya Bortowe► �.--
<br /> Interest an the Funds and app�cable law pertnita 4ender to make such e charge, Howover,Lender may requlre Borrower to pay a one•tlme chuge �,�,��
<br /> _�_
<br /> for un Independent real e9tate tex reporting sorvice used by Lender in connectior� wiih lhle I�en, uNe�s apptic:�b,a tatJ µot�ldes oth�:vEsP Unless �:;-
<br /> an agreement Is mado or applicable law reyuires interest to be peld, Ler.der sheil not be required to pay BoROwe►eny Nteiest or eamm;,s on tha �v,_- __
<br /> Funds. Borrower and Lender may agroe In wrting, however,thet tnterest ehall bo paid on the Funds. Lendet shall give to Borrowe►,without ;.,�
<br /> charge,en annuai accountinp ot iho Funds ahowing credits and debite to the Funds and the purpose for whlch each debit ro the Funds _
<br /> �_=�_rt,:"°�"r__.
<br /> „ was made. The Funds aro pledc�ed ae eddfdanal secu►iry tor all sums secured by this Security InstmmenL .��.--
<br /> , .,�--
<br /> II the Funds held by Lender axceed the amounta permitted to be held by epplicabls law, Lender shell account to BWfOWCi 10P thti @XC@SS ti�+•;�:�—_
<br /> Funds In accordanr.e with the requlrements ot appllcablo Inw. It the amount of the Funds hetd by Lender at any timo is not aufftclent to pay the :��.�-_—
<br /> � Escrow Items when due,Lertder may eo notlty Bortower In wdUng,and,in such ease Borrower sha�pay to Lender the err�ount neceseary to meke �'.;:�,•'°`�
<br /> � up the deflctency. Bonowcr shatl meke up the deflciency In no more than tweNe monthty payments,at Londer'e sola discre�on. '
<br /> Upon payment In tuli of all sums aecured by this Security Instrument,Lender shall promptty�efund to Borrower any Funds held by l.ender. It ';`��
<br /> under paragreph 21,Londer shall acqulre or sell the Property, Lender,prtor to the acquisition or sale of the Property, shall epply eny Funds held �.s.a
<br /> _ - -. .._ . ,_,. =�—
<br /> , ' �,, .
<br />------ - ---- . ...
<br /> by Lender at tne time ot acquisiiion or saio as a acdii againa�iiio oU�i�6 o'cGBicv �ij Q�iio w'ri:S:Z'��^�.fll�:^.°..tl�. " '
<br /> 3. applic�4ion of Pt�ymente. Unleso appiicable law provides othenvise,nIi payments recelved by lender under peragrapha 1 and 2 ;'.-� ���.
<br /> ahall be epplied: flret,to eny prepayment charges due under tho Note; second.to emounts payable under pamgraph 2;third,to Interest due; �
<br /> ' fouRh, to prtndpal due; and last,to any Iste charges dua under ihe Note. ��,
<br /> 4. Charges; Llene. Borrower shall pny ell taxes,assessmc�ts,charpes,fines and imposftions attributable to tha Property which may
<br /> attaln pdority over thls SecuNty Instrument,and leasehold peyments or ground rents,if any. Borrower shall pay these abllyatlons In tha manner ,{
<br /> provlded In paregreph?.,or ff net pald In thet manner, Borrower shall pay them on time directy to the petson owed payment 8orrower shnll
<br /> promptlyr tumish to Lender ail notices of amounts to bo pald under thls paragreph. I1 Bortower makes these paymmts direcity, Borrower " � �
<br /> shall promptty tumish to Lender recelpis evidencing the payments. �
<br /> Bortower shall prompiry dlschargA eny Ilen which hns p►iortty over this Security Instrument unless Borrower.(a)egrees in w�iting to the pay '�.;:;�.:
<br /> ment ot the obligatlon secured by the Ilen In e manner acceptabla to Lender, @) conteste In good felth the Iten by,or defends egainst entorcement , �, -�
<br /> of tho lien in,legal proceedings which in the Lender's opinfon operate to prevent the enforcement oi tho Ilen;or(c)seares trom the holder ot the .�,.�� `
<br /> . Ilen an ngreement saUstactory ro Lender subordinating tho Ilen to this 5ecurity Instrument. Ii Lender detertnlnes that any paR ot the Property Is �' �'�''9'
<br /> subJect to a Uen which may atlain p�loriry �ver this Securiry Instrument, Lender muy ghre Borrower n noUce identifying the lien. Oorrower shall '�si� *+
<br /> setisty tha Ifen or take nne or more ol the actions sat torth above wlthin 10 days oi tho ghring of notice. �-
<br /> 5. Hazars! or Propefiy Insuranca. Bortower shall keep the Improvements now existing ar hereaRer erected on Iho Property Insured ��
<br /> against loss by fire,hazards Ineiuded wlthin the tertn 'extended coverago" and any other hezards,(ncluding iloods or tlaoding,for which Lender ;r
<br /> requlras Insurance. This Insumnce ehull bo malntained in the amounts and for the periods that Lender requlres. The insurance cartier provlding �>
<br /> „ tho insurance shall be choson by Borrower subJect to Lender's npproval which shall not be unreasonably withheld. If BoROwer fails to malntaii� � , �
<br /> covemga desafbed ebove, Lender may,at Lendor's option, obtain coverage to protect Lender's rights in the Property in eccordance with �w� ��i.
<br /> � pareflreph 7. I ' . '
<br /> All Insurance poliales and renuwals shall be acceptabla to tho Lender and shall Include a stondard mo�Ygage ciauscr. Lender shall have the
<br /> right to hotd the poilcles and renewais. It Lender requires, Borrower shall prompty give to Lender all �ecelpts of peid prerniums and renewul : •
<br /> notices. In tho ovent ot loss,BoROwer shall glve prompt notioe to tho Insurance certier and Lender. Lender mey make prooi of loss(f not made ' .
<br /> prompty by Bomower. '
<br /> Unless Lender and Borcower othenviso agree in wr�ting,insurnnca proc�eds sheil be epplied to restoration or repalr of the Property damaged, il �
<br /> • the restoratton or repalr is aconomicsly feasiblo nnd Lender'S securlty is noc leasened. It the restoretion or repalr Is not economlcalty feaulblu
<br /> or Lender's securfty would be lessened,tho tnsumnce procoeda shall be epplled to the sums secured by this Security Instrument,vihether or not �
<br /> then duo, wtth any ea:cess pnld to Bortower. il Borrower obandons tho Properly, or dooa not nnswer within 30 days a notice from Lender lhat the
<br /> insurance cartier has oflered to settto e clalm,then Lender may colloct tho Insuranco praceeds. Lender may use the procEeds to repulr or restore ,
<br /> ' the Property or to pay sums secured by this Security Instrument,whether or not then due. Tha 30�day perfod wt11 begin when the notice Is gfven. ,
<br /> Untoss Lender and Borrower othenviso agreo In writing,any uppilcatlon ot procaeds to prineipul shall not exlend or poslpono the due dato
<br /> of the monthly paymcnts refr.n•ed to In pamgreph 1 nnd 2 or chanpe tho flmount ot the payments. If under paregrnph 21 the Property Is
<br /> acqu!red by Lender, @orrower's dght to eny insumnco policies ond proceeds resulting irom damaga to the Property prior to the acqutsition
<br /> � Shtill pII99 t0 LC�dM t0 th0 Ox[CnI 01 lI1C+SUfI1S 50CUfC0 OJ/if118$BCU�iIy Ins[nlmcm[immcaiaiGiy p�ioi iv ii�d aGyuio i�v.-�.
<br /> 6. OcoupanGy� Preservatlon. Maintenance and Protoctlon of tho Proporfy; Borrower'a Loan ANpII�Atlon;
<br /> LeBSehOlds. Borcower shull occupy, estebllsh, and use the Property as Bo�rowers principal resldence wlthln sfxty days atter thQ executlon o1
<br /> thls Securfty Instrument and shall cantlnuo to occupy tho Proparty ne Borrov�ers princlpul resldenco far et least one year afler the dntn of
<br /> occupaney, unlosa Lcnder othenvlso ngrees:n writing,whlch consent shall not bo unreasonably withheld, or unleas exlenualing clrcumstances exlst
<br /> � whlch are boyond Borrower's control. Bortower shall not desuoy, dnmage or Impalr the Property,nllow the Property to deteriorate, or commit
<br /> � wnsto on tho Property. Borrower shall bo In default It any torfeltura ectlon or proceedlnfl,whuther dvil or criminnl,Is begun Ihat In l.ender's good
<br /> .
<br /> , „
<br /> E I Fortn 3029 fll80
<br /> 30YOt.trm(3/91) vago 2 ot 5
<br /> \ +
<br /> � � \
<br /> � - –_ _ .. _
<br />
|