|
'�: .Saw� ;._;.;,:x;.i;��..;�r•:_. .� slH;�:°'��jSi•..,,. . .
<br /> j . ':i�� �.. .. j���io,'?{t�¢•��y�,, . .1. , .
<br /> ''fu..:;v{,,;;;��1,:� , � ,
<br /> , v,C.j•..:�\iz� . ' �.
<br /> .. . . ....- .
<br /> ,
<br /> - ��'1H�@1��t7i}raa.Y _
<br /> .. _ . .�.. . _ . _ _ _ _ '
<br /> .. . .. . . .... � .� � ". _
<br /> ....,,,.
<br /> .: i
<br /> "'��, q...., � .. . •.�i� _. .
<br /> l4'." - ..v....l....._�...,..:vr..uua,u.r�in"� —= — — - —
<br /> � - .. - . - . _ � --
<br /> ��5- �,t�.391 �_
<br /> SARROWBR COVCNANTS that Hotrower is lawtidly xeized af tho cstnro hcreby cunvEyed and has tha r�ght w grant
<br /> wlll defend generally the duo wAtbe Proper�ty ABain teull cl mx spd demand9 xubk t ro any enc mbrnnae�ofW►eco�ffi end
<br /> UMPORM COVBIVANTS. �
<br /> 1. P�y�mnt ot PeL�dWd,Inkreat u►d L*te C.l�r�a Barmwer Khall pAy when Quo tha pdnctpul of.and interest on.
<br /> the debt evidenced by thm Note and laro chargcs due under tha Note. _
<br /> Z. Monthly Payment of Toxes�Ineurance.�d Other Cluir�a. 8nrn►wer xhull inciude in cueh montbly payment,
<br /> together with the princlpal and intcrest ss set forth in the Nato tnd any IAte chugeM. n sum far (a) taxe.9 end specInl
<br /> assesarneAta levled or w be levied agaSnst thn Praperty. (b) �eaAehold pay nxntx or �r�und [cnlx on ehe Property, end
<br /> (a)premiuma for insurance t+equired undar Pera6roY+pFs 4. In sny�ear in which tho L,ende��unt�uy�aMn�ortg��lnsuran� -
<br /> pre 11ll11II1 tO Ule.7CCR'UILy U{ C1t142S10�t Wtt�Vltltllt alVV��v�r.irint�=�uwlvW► p v� i���J J^" . • p•�
<br /> have ban required if L,ender adll l�etd the Securlty Instrument,each mant�ty pAyment ehall ol�a Inci�ado either.(i>a Rum for --
<br /> the annual mortgage jnsw�ana+premium w be paid by Lend�er co tha Sacretuy.or(li)w m4nthty chugo lnatead of a mortBage
<br /> in8urance premC,un if this 3ecurtty Inatrument ie hald by the Secretary� in a rc�.gonable onwunt W bo determined by tha ,
<br /> Seaetury. Fxcept for the monthly cbarge by tho Secretary.theRa itetna aro called"E�rc�w ltemR"und tho suma p�id to I.endtr
<br /> ar�e Cu11ed"8scrow Funds."
<br /> I.eader may,at any dme�c�llcct and bold araounta for Escrow Items in an aggroguto amount not w excad the meuimurn
<br /> aqiovnt that may be required for Bormwe�s escrow eccous�t under!bo Iteal B.rtato 9critement Procedurrx Act of 197a.12
<br /> LT.S.C.� 2601 � �A. susd impleraentiug regulndons� ?A CFR Part 3500, ee thoY may be �mended fiam drme w time _
<br /> ("RP.SPA"),except that the cushion or re.�..rve pem�ttted by RBSPA for ur►endcIpaud dlxburRementx or diabungemEnt�beforo
<br /> the Borrowe�s payments era available la the account may aot be based on wnountx duo for the mort�w�e innurs�nnce pnmium.
<br /> i8 the anaount�held try T.euder for Bscrow Items exceed the smounu►permtlted w be held by RFSPA�I.ender ehall deal
<br /> �������ds as reyuired by ggSpp, If the amounta of funda held by Lender nt eny dmo aro not xufftcieat w pay tho
<br /> Esemw Items when duo,Lender may notlffy the Borrower and R+equiro Ho�rower w malce up 1ho Rhotta�e ar cbfleiency es
<br /> perntitced by R&SPA.
<br /> '�n Bgcrow Fuads are pledged as edditional sxuriry for al�suma sxured by thla Sxcudty Ineuumen� If Bonower
<br /> undere�w Y.ender the fi�ll payment of all auch eums,Boirowe�'e ercount ahall be crodltu!wlth the balanca rcmdntn�for eU
<br /> installment iuras(a).(b).aad(c)aad any raortgpgo insurance premium in�t�Ument thAt I.ender hos not become ablig�tad to
<br /> P�Y W the Secnet�y.s�ad I.andar ahall prompdy refiuid eny excess tluids to Borrower. Imnscdiataly pdar ta e f4rcclowro�ale
<br /> of die Pmperty or its uisidon by Lender. Borrowet s account sbaU ba craclieed wtth anY bal�noe rem�in�n= for uU
<br /> instatlments for Items(a) ).and(c).
<br />_ 3. AppNeation of ane. A11 psy�n►ents�ndcr Patagephs 1 and 2 shsll be appAod by Lender u followa:
<br /> p�g�,w ttto martgago insurarux premistm tQ be paid by I�stu�r to thc Sa���Y�ta tiie tsus�siltiy�s�ge bp .
<br /> �-S�retary instead of the mnnthly mortgege insuntnce pr�mtum;
<br /> � to aay texes, specIal assessments. lea�ehold paymentx or ground renta,and flro, tlood and Whet
<br /> uranoe pn�niwns�asrequirod:
<br /> ,to inurest due urtder the Note;
<br /> �o eraoNzadon of the princip�1 of the Note:
<br /> to tate cherges dua under the Nox.
<br /> 4. FGce►l�tooii nd Ot6er�rd Iaau�anoa Bornower eha11 tnsum all improvemoata on the Ftopetty�whether now
<br /> in exisunce or nub�oqumdy ereccod, e st any ha�arda.casuatda+,artd condngeacies, includin�tiro. tor wh�kh L.snda
<br /> requires tasureace. '�iis Insw�unce s�meintaine�!n tho eraount�and for the petloda th�t Letider e+eyuit+a. Harrnwar
<br /> sha11 also i�sute all improvemoats on the Pnaperty.whether now in eaiatence or eubsequentiy eee�.'wd.�dnu loer by flood�
<br /> w tda e�cuat mquire�vy the Secretary. All inauraace shall bo can�Icd with compAniea approved by Gencfer. 'tf�e inwrx�e
<br /> poUctes uid eny nnewals shall bo held by Lender a¢td sl�all inctudQ loa9 payable claxes in favor of�md itt�t 1'orm eaepuHb
<br /> to,�.e-ndec.
<br /> Ia the avent of losa�Homower shall give Leader immediau noda by ma�• L�e�cier mq�c�,v�f af�it'�ws+u:�
<br /> pmmpdy by Borrowu. Fac6 insurance oompany concecned ie hereby authori�oed iutd dincted to m�ce p�yment for ruch lo�
<br /> d�nctiy to Lender,ir►suad of u►Borrower u►d to Lender Joindy. AU or eny part of tlte iaeuranoo proceede nµy be�pplied by
<br /> Lendec�et its bpdon,either(a)to tho�+cduction of tbe inAebtcdncss uader the Nnie wtd thfs Securtty Inrttumen�fir�t w�ny
<br /> deUnquent arnounta�pplied in the order in Pe�caph 3.ead then to PrepAYment of princip�l.or(b)to the naton�tlon or aepNte .
<br /> Qf tho daa�a8�P�P�Y• AnyeppllcatIon of the Proceed.g w the princIpal shaU not excend or postpono the dua d�te o(the
<br /> IYlOAtIf1y�8}�Il'ICptB WTIICfI SiG refer�red m W Paragraph 2,or change the�mount of auchpaymec►ta. My exas�insur�nce
<br /> prooeals over an amountrequiY+ed w pay all outsta�tding lndebudness under�he Noto and tbi9 Secudty In�orumant�il be
<br /> paid to the endty kgall endtled therew. �
<br /> indebteGnsse,aU r�Igh d�e end�intensc�of Ba r�[o er ih a�nd wtLisureaoe poIIcies ih f t�+ce shell�s�tl e p�u �Ktwer�uWka tl�e
<br /> �. p�put�.y, P�eeerv�tbn, Mafinteaanoe and Pe�obxtlon o[tlte Prope�tyi BOlre�uwec'� Lo�A App�c#tba�
<br /> i,qseholb. 13omower shall occup ,Cstablish,and use the Property ag Bomower'a ptincipal cesldcnp with�in alxty daY f�tter
<br /> the exautba of thie Security Ins�nt and shall condnue W accupy thas Fropet�89 BOYi'OWCt'B dnei raidatoo
<br /> teaat one Y��r���of accupancy,unless the Sa�retary detennines this requlrement wW enuse unduo fwd�hip fbe
<br /> Bomower,ar untass exten�adng c���e��which are beyoad Bomower's control. Borrowu ahall nodfy l.et�den ut
<br /> any extepuating ctrcumstances. Borrower shall not commit waste or destroy.durna8e or aubstand�lly chanYo ihe Pmptety ar
<br /> eltow the Properiy to deoerlorate�reasonable wear ead tear excxpted. Lender r►�ay inspect the Propetty-if tho Propetty i�
<br /> vac,ant or abandoned or the loan is in defuuiG Lcndcr may taka e+e4sonable action tn pr�tcct end pceaervo�ucl�v�cant ot
<br /> abandoned pcnperty. Borrower shall also be in default if Bomower.during the loan applicadon pcooess��ave mRt�erD�lly fi►�ro
<br /> or inaocureta infom�adon or statement�w Lendcr(or fniled w psovtde Lender with nny materi�l i»formatloe�)tn wnnaction
<br /> wIth the loan evidenced b the Note,including.but not W�atoed W�npresentadona conaming Horrowe�°r aocupurcy of the
<br /> - the tease. If Boirower cq duires f dtiv oo the P npertY�tmhe leagehold artd fix dtle shuU not ba n�ergdd unlesx Leadcr ugrreK to
<br /> tho n�.ter in writing.
<br />- 6 ChArges to Bomower�nd PratecNon of I.e�der's�ts in the Pe+operty. Sorrower shutl pay ail qovemnxnt�l
<br /> .,......»�s�,.�n.e� ��nn�t�,nmatrs.nns thet are not Includ iin ParaBraph 3 Borcower shall poy thcso obllgnd�na nn
<br /> �---�--�-----o--,--- --- -
<br /> - tiu�e directly to tha entity which is owed tho paymen� If fattura co pay would adven�ely atiest unciai a intar� m mo
<br /> - properry.upon Lende�s request Bo:rower shall promptly flimish to Lender ro�eipts evidencing th�se puyment�.
<br /> V Borrower fails to make these paymenta or the payments requ{rod by Parugrnph 2. or fcdfs to perfarm eny otircr
<br /> � covenants andegroemente contained in this S�nshwnent,or there is a legul proveeding thnt may xigniRcantiy affect
<br /> - • Lender's dghts in the Property (such ac u in bw�l�uptcy,for condemnadon or to enfoma luwR or rcgulAtlon»),
<br /> - thea I.cader may do and pay whatever is necessary w protxt the valua of the PropertY and Lender'a ri�htx in tho Pruperty,
<br />= including payment of taxes,ba�srd inauratcs and other items menHonod in Pamgra�ph 2.
<br /> My amounffi disbursed by Lender under thla Pnragraph st�nll become on addidonal de�t of Borrower and ba�ecurcd by
<br /> this Security Inatcumen� Thes�amoants shull bear interest from the date of disbut�emcn�nt tho Nota rate,and at tho option
<br /> of Lender.shell be immerliately due and payable.
<br /> — (Page 2 oj4 pages!
<br />
|