|
. :; Tl �
<br /> , . . . . , , ,
<br /> . , �. . _. ,
<br /> --L--- _-� . . _... .. ., i�9S-�ft���'�2 �.. _--.__ -
<br /> Thc Hunds ,hull hc hcld in un in�dtution 1YIIl1�C(JL'�OS��, :IPI' in.urcd hy a f'rdcrul ugrncy. instrumcntality, ur cntity "
<br /> (inrluJing Ixndrr.if lAnder�s�urh un imtiwtinn 1 nr in imy Fc�lcral Hamr l.oan Bank.l.endcr tihall upply Q�c FunJ.,tu pay thc . ..
<br /> f:rrrnw (tcm,. l.�ndrr nu�y nut ci�argc Hnrrawrr tiirhuldiul,nnd applyin�!thc I�u�id,,annuully an.dyiing thr c+rrnw arrount.ur
<br /> vcrifyit��thc li+ccu�v Ilrtns,unlc+. I.�rnlrr p;�yti fiurrmvcr intcrr.t on thc l�uud.and;q�plirahlc I:�w permil, Ixn�lrr t��mul�c surh '
<br /> u cNartic. Hu�ccvcr. lxnd�r muy rc�uirc flurnnvcr in pay u rnc•timr rharg�li►r an indcpcnJcnt rral c,tirtc tax rrpumn�:,crvirc
<br /> . • " u,.d hy I.c�ulcr in c��iinrrti�m �vit i thi, luan, u�dc�ti up{�lirable law pruv�dr, othc:witii:. Unlcti+ un akrcenunt i. madc or .
<br /> uppliralilc law rcquirc� intcrc+t to hr pui.l,l.cnder Jiull nnt bc rcyuircd t��pay H�►rruwcr any intcrc�t ur curnin���m ihc fund�. •
<br /> � I3orro��cr an�i I.�iidcr may ngrcr in wri�in�;, how<<�cr. tl�at intrrctit.hall bc puid i►n1h�F=unJs. Lcndcr,hull pivc tu Hi�rruwcr.
<br /> withuut chargr. un nnnuu! iircuuntin� ul��hc Funds. �howing crcdit, und dchits tu ihc Fund+und the purpo,c lirr whirh �ach
<br /> � dchit ta thc Fuudti«•u,madc.Thr 1�un�1•,iu��I��Ig��J a�additionul+crurity fi�r ull sumti +ccurcd by thi�5rru�ity Instrumcnt. .
<br /> I(thc FunJ�hcid hy l.rndcr excccd the unx�urN+ pcnnittcd to he hetd by applic��hle l�w,LenJrr shail acraunt t�� Hurnnvcr
<br /> " fi�r thc cxrc.ti FunJ� in arr�►rduncc with thc rcquirema:nt,of upplicuhlc luw. If tl�r amuurn u(thc Fund.n c�ld by I.cnJcr at uny
<br /> . timc i�nut:.ufliricnt a�puy!h�1:tiCrow ltcm� whcnduc.I.cnJcr muy +u notify �orrowcr in writing.And. in+uch ru+c Borr�wcr
<br /> ,hall pay to l.cndcr thc amuunt nrre.sury tu nwkc up chr dcticicncy. &�rrowcr tihall mukc up thc dcficicncy in no morc than
<br /> „ twcivc monthly paymrniti,at Lrndcr'.tiiilc Ji�crct ion. "
<br /> Upun paymrnt in fuU uf all ,um� rccur�d by this Security Intitrumcnt. I.cnJcr tihall pr�impUy rcfund to Bnrrawcr any
<br /> ,. Funds hcld by Lxndcr. tf,undcr puragr.iph 21,l.���Icr.h.�ll acyuirc or�cU thc Aroperty,L.endcr.�rior to thc acquiriticm or �alc ,
<br /> _ uf the Froperiy, +hul� apply any Fundti heid by l.emler at the time of arqui+iti�m i:r wtr u�a cred►t aguin�t thc+um��ecumd by
<br /> ' � thiti Scrurity Intitrument.
<br /> „ 3.Applia�tion�rf�ymen�c. Untc�.upplirublc luw pmvide�otherwise,:dl puymentti receivcd by Lender under paragraphs
<br /> ' I und 2,hutl bc upplicd: fir�t, to uny prepay�nent churgcs duc unJcr thc Notc: ticrand,to;unounts payuble undcr paragraph 2: .
<br /> ' • third.ta interest due; fiiurth,t��principal duc; und la�t,to any latr churgcs duc under the Note.
<br />' 4.Charges; Liens. Borrower shull pay ull t:ue�,atitiessmems, chargc�, finc+artd im{msitions attabutuble to the Pm�erty
<br /> ' •• which may attair� priority over this Securtry ln�trumcat,und Icauhold payments or ground rents, if:sny. Borrowcr shall pay . .... ,
<br /> , . thesc obligatiuns in the manner provided in parngraph 2,or if not puid in thut munner. Bormwer�hall pay them on time dircYtly
<br />" ' � ta the penon owed paymcnt. &�rrrnvcr�hall promptly fumi,h ta Lendcr all natices of:unounts to be p;sid undcr thic paragraph. .
<br />� If liorrowcr makcs these puyments dircrtly.Borrowcr shall promptly fumish to Lcndcr receipxs evidcncing thc payments.
<br />� � ' • Borrower shall promptly di+charge any lien which has pnority over this Securiry Instrument unless Borrawer: (a>agrces in - ,
<br />• writing to the payment of the obli�ation�ecured by the licn in a manner acreptuble to Lender;(b)contests in gaxi faith the lien �
<br /> �" ., • by, or defends aguinst enforcement of the lien in, lege! proceaiin�s which in the I.ender's opinion operate to pmvent the "
<br /> � enforcement of the lien;or(c)tiecurcs from thc hoWcr af thc licn an agreement sutisfuct�ry to L.ender subardinuting the lien to •`'
<br /> - this Security Instrument. If Ixnder determines th:�t any part oF the Property is subject ro a lien which may uttain priority over , �="-
<br /> , � —
<br />- " this Security Instrument, Lender may�ive Borrower a notice identifying the lien. Horrower shatl satisfy the licn or take one or
<br /> more of the actions set forth above within 10 duys of the giving of notice, '�. ` �,--
<br /> 5. HazaM or Property Insurance. Borrower shall kecp thc improvcments �ow exixting or hercufter crccted on the , ,-�_ y•
<br /> „ � P�opeRy insured pgainst loss by f re, hazards included within the tertn "extended coverage"nnd any other hazards, including ' ���.�
<br /> • floods or floodin�,far which L.ender�equireti in�urance.This insurance sh�ll bc:mnintained!n the runounts und for the periais �3' �� �
<br /> „ t�3t I�nder requires. The insurnnce carrier pmvidin� the insurance shull fse chosen by Borrower subject to L,ender's approvul . _ _
<br /> �' which shall not be unreASOnably withheld. If Borrower faits to maintain coverage deuribed above. l.ender may.at l.ender's E� = ►
<br /> •. option,obtain caveruge to proiect Lender's ri�hts in the Property in accordance with parn�raph 7. �
<br /> „ . . • „ All insurence policjes and renewals shall be acceptable to Lender und shall inrlude a standard mort�age clause. Lender _� ��" �� ��
<br /> . shall have the right to hold the policies and renewals. If Lender requires.Bonawer shall promptly give to Lender all receipts of ti•
<br /> paid premiums and renewal notices.!n the event of loss,Borrower sh�ll�ive pmmpt notice to the insurance carrier and Lender. . �
<br /> Lender muy make proof of loss lf not made promptly bp Borrower. ,�°;
<br /> • � Untess I.ender und Borrower otherwise agree in writing,insurance proceeds shall be applied to restorntion or repuir of the ., � +
<br /> ' � Property damaged,if thc restaration or repair is econumicaUy feasible and Lender's security is not lessened.If the restoration or � ��, •:�
<br /> repair is not ecottomicaUy feasible or I.ender's security would be Iessened,the insurance proceeds stwll be applied to the sums
<br /> � • secured by this Security Instrument, whether or not then due. �vith any excess paid to Borrower. If Borrower abandons the �... .
<br /> Property.or does not su�swer within 3Q days a notice from l.ender that the insurance canier has offered to setde u claim, then '
<br /> fU
<br /> • i.ender mny cotlect the insurance proceeds. Lender may use the proceeds to re�air or mstore the Propeety or to pay sums ���-
<br /> � ' " ' serured by this Security Instrument,whether or not then due.The 30-day pedod wdl begi n when the notice is given. •��,�=��'�"`
<br /> - ,. Unless Lender and Borrower otherwise agree in writing, any application of procceds to principal shall aot extend os �
<br /> • r• postpone the due date of the monthly paymems refened to in pam�raphs I ar.d 2 or change the amount of the payments. If -
<br /> �'��� under ara ra h 21 the Pro rt is ac uired b L.ender,Borrower's ri ht to un insuc�nce {�cies und roceeds resuttin from ,�
<br /> . t�;.: P S P Pe Y 9 Y 8 Y Po� P 8 -
<br /> - , -� � dnmage to the Property prior to the ucquisition shall pass to I.ender to the extent of the surns secured by this 5ecurity[nstniment , ; �:
<br /> immediately prior to the acquisition. ��°�"
<br /> "" 6.Occupncy,Preservatton, Maintenance and Protection of the Pmperty; Horrower's Laan Application;ixaseholds. .. � -
<br /> ' �' "`a�';� Borrower ahall occupy,establish,and use the Property as Borrower's principal residence within sixty days ufter thc execution of `.�ic.��
<br /> • '.";;,:i:�', this 5ecurity Instrument and shall continue to occupy the Property as Borrower's priacipa!resQdence for at least one yeur after � ��'• '•'
<br /> +:�r.
<br /> - • the date of�ccupancy, anlec� i.ender othenvise agree�in writing, which consent shall not be tnnreasonably withheld, or anless
<br /> -.':�1����� , � ' extenuating circumstances exist which are beyond Borrower's control. Bonower shnll nat destroy, damage or impair the '�-'�-`�
<br />- . •• Property, allow the Property to deteriorate, ar comrnit waste on the Property. Borrower shull be in defAUlt if any forfeiture ,
<br /> action or praceeciing, whether civil or crimina�, is begun that in Lender's good f�ith judgment could result in forfe9ture of the • „
<br />- Propeny or otherwise materially impai�the lien�nated by this Security Instrument or l.ender's security interast. Borrower may �,
<br /> ' ��.r'.� cure such a vefault und reinstate,ns provided in paragrnph 18,by causing the action or proceeding to be dismissed with a ruling
<br />__ , � that, in l.ender's good fuith dcterminatian, precludes forfciture of the Fiorrower's interest in the Property or other material �
<br />- impairment of the lien created by this Security Inurument or Lender's security interest. Borrower shutl also be in default if __
<br />�: ' . Borrower,during the loan npplicution pracess,gave materiatly false ur inaccurate inforn�ation or statements to Lender(or f'ailed '. "
<br /> u to provide Lender with any material information)in connection with the loan evidenced by the Note, includin�,but not limited � - -
<br />° � to, representations concemmg Borrower's occupancy of the Property us a principal residence.If this 5ecurity Instrument is on a '
<br /> - leaschold, Borrowcr shall comply with all thc provisiom of the teuse. If Borrow�r acquires fce title to thc Praperty. the
<br />- " , leasehold and the fee title shxll not merge unlc,�ss i.ender agrees to the merger in writing. '„ �
<br /> _ , 7.Protection of Lender's Rights in the Property.If Borcower fails to perfurm the covenants and agreements contained in . , ,
<br /> � ' this Security Instrument, or there is a le�al proceeding that may signiCr:�ntly affect I..ender's rights in the Praperty (xuch as a ,
<br />:� �, proceedin�in bankruptcy.probate.for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and
<br /> ;" " �ay for whatever is nece�sary to protect the v�lue of thr Property and Lender's rights in the Propeny. Lender's actions may
<br /> .�. , _• mclude paying uny sum� securcd by a lien which ha. priunry over this Securiry Instrument, :ippearing in court, payin�
<br /> . _._ .._ . ..__u'-..-__.._• c.........i....•...:....,...�6..D...b.y..r.. moL...nn..:r. At�h�.�,�h I�,.vl...mo., ta4v....�:..o...,.i...�6:.� ..............M ---�. ..-----
<br /> _ ._._._-_...-:_ __ - tcua�nuv�o aaw�..�.�o ...�.,.....�......�. ......... --— _ -.. .._.- .__ ._..
<br /> . b ....�.,..� „ ....«... _r....... ...... _o. ..,...__. .._� ....._.._.............. ..... �,....b...r.. = ..
<br /> Y 7, Lcndcr docs not havc to do tio.
<br /> :� ' Any amounts disburscd by Lender under this paragraph 7 shall becomr aJ�iitionaf Jrbt uf Bu�iuwrr ,��uc�Kl by this � �
<br />.� � Serurity Instrument. Unless Borrowcr and L.endcr a�rcc tu uthcr tcrni.uf paymcnt. thcsc amountti shall bwr intcrctit fmm the
<br />: �,,� . date of Jisbunement at the Nate rate and �hall be pxyuble, with interest, upcm noticc from Lender to Burrower rcyuestin�
<br /> payment.
<br />'� 8. Mortgu�e Insurnnce.IF I.encirr reyuimci nxirtgagc insuranrc us a�rondition of m:ilcing thc loan.c.�:ured by thi�Scrurity . .,
<br /> Instrument. Horrower shall pay the premium�required tu maint�in thc mortgage inaur.�nre�n effi�ct. If, for any reation, the
<br /> .,� mortgage insurance roverage r��quired by LenJer lapseti or ceaxea to tx in effctit. &►rruwer�hall p:ry thr premiums reyuircd to
<br />�� obtain cuveruge �ubstantially cyuivalent ro the mixtgage in+u►unce pnviou+ly in effert,ut:t rnst�ubstantially eyui��3tent tu thc
<br /> �, • rost to Bormwcr uf thr mortgage intiur�ncc previuusly in cff�tit. frum un alternatc mortgugc in�u►Lr appn�v��1 by C.ctxicr. If
<br /> :.
<br /> 3 � Pey{o 2 u�d Form 302B 9180 �
<br /> .
<br /> 3 � �
<br /> '4 ��
<br />
|