|
xi.�wra•f lr• ��_t7y F ��.,r _(_°,�"�I�` '.�d i}".,ie�la t1�'�"1'�R 7ra����r �14�i ' ,
<br /> �� t},(��(��� � 'Jmanu'(
<br /> /r1 j1: � �� , ��f��=l�w!-•�li Ef'6y�".!i
<br /> . .. , y ���,
<br /> .; ,� '•
<br /> ,, �
<br /> ' % �,`��,�,h�1i1k.. . • �'�, ' ,. ;;:�,_':S;�';�'",�:`-S..t..�rv =- , __._
<br /> � � '��'��r i' .....i.a:...�:���•�,�xt'S+vti.�r --._'-
<br /> .�„�,k._..... ...,.._.... . .. .,..,_ _ _ - - -
<br /> _.-' '�'Z`�..��4Nf'— -
<br /> -M — - _
<br /> 101
<br /> ��� �,�IV�V� -.
<br /> BORROW�R COVENANfS dtat Borrower is lawfully fieized of the�tate heneby convoyed and hu»the dght to grant
<br /> wltl defend generally tha 8tte o the1Propei�ty again t aU laimA�ia demanaa e u je i w a��y encu�mbmnces of raoid. ��d
<br /> UNIFORM COVENANTS. L
<br /> 1. P�ymtnt of Pdndp�l,Iaterest uM Lste ChAtga Borrower ahall pay when duo tha pdncipal of,nnd lntcregt on.
<br /> the debt evidence�by the Nou end lute chnrges due under the Note.
<br /> �. Monthly ih�yment ot Tnxa,Inwranati�nt1 Othe�CharBes. Borrower ehnll Include in euch monthly pnymsn�
<br /> tagcthsr with tho pdncipal nnd itturest a9 r,�t farth in the Note uttd any late chtugc�r►� a Rum for(u) u►x� and epecinl
<br /> a.yxessment,9 I�vied or t�be levled nguinst ta►e Pro�etty. (b> leuschold Pu�menw or ground rentn on tho Praperty. and
<br /> • ..�_.w..�....�.... / �w ..�..•....�i.....L ��.f«..i..w....��..�.o w+..Mw.�w�iw��Nnwn� ___..
<br /> (C)PRlillQl!U�tt�innutnmo��.yuuw uuuc��aua��a�n.+. ...«..� .+.. ... ...«. . .........,. ....»» � »..••.••e�o�•••..�•••.._�
<br /> remtum ta the Scctetary of Housing�und Urban Ikwclapment("�arelary"),op in any ycur in w�iich Kuch p�mium wauld
<br /> Ruvo bocn royuircd IP Lender xa�7 hekt tho 5ccurEty Inateumen�ench manthly puyment Khati olxa includo ctthcr.(i)a Qum for .
<br /> Ihc ann�ial mnrtgogo inxurencc�r�mium to bo pald by I.cndcr to tho Scc�rtery.or(ti)a monthfy churge instead af u mortgago
<br /> inxuranco prcm lum if 1hlx Secutity Inst�ument!n hcld by tho 5ecrctary. In u rc*asonable amount to be determined by tho
<br /> Secrctary. �xcept for tho monthly charge by the Sceretary.theso items nro cp!!ed"Escrow Items"und the Rumg pnid to Lender
<br /> aro calttd"Escmw Funds:'
<br /> l.ender may�at any dene.c.ollect und hold amountx for Bsecaw Itema in an aggregau amount not w eacad the maximum
<br /> umount that may be roquicrd for Borrowe�'R c.scrow account under the lteal Bgtate Seulan�ent Procedur�v Act of 1974. 12
<br /> U.S.C.B 2601 ot eea• aad implemendng roguludona, 24 C.i7R Port 3508. as they may be amcnde� finm dnx w dme -
<br /> ("RFSPA"),eaapt that th�cusl�ion or crserve permtued by RESPA for unandc[pated disbu�ements or dlsbursemeats before
<br /> the Bormwer's puyments are availablo in the account mny not be based on amounts due for the mortgage insuranoe pnmiu�n.
<br /> If the amaunts held by Lender for Fscrow Items eacocd the umounta peimitud w be held by RESPA.Lender shaU deal
<br /> wtth tha oxctss ti�nds as required by RBSPA. If the amounts of funds held by Lendtr a!eny tLae aro not sufficient w pay tt►e
<br /> Escrow Items when due,lxnder may aodfy tho Horrower and nquire Bozrower to mske up the ahortege or defictency as
<br /> petmiKai b��y RESPA.
<br /> '!!ue Escmw Funds are pledged es additionN sec�uity for aU sums secured by this Security Tnswmen� If Borrower
<br /> tenders to Lender tLe full payaient of all sucb swns,Borrowei's ax�unt shaA be c�+edited with the balauce remaining for all
<br /> installrnent iums(a),(b),and(c)and any moMgago insura�ux premium inssullmeat that Lenda has not become obUgaud to
<br /> pay w the Secretary,and Lender shall promptly refund any excess funds to Bomower. ImmedIateIy prlor w a foreclosure sala
<br /> uf tbe Froperty,or Its uisition by Lender.Bomower's aocount shnll be credited wtth any ba[anx nmaining for all
<br /> installments for items(a) ),and(c). !�2�haU be b Isnder es followa:
<br /> 3. A�of Rl!psyuxa�st�sr Psragreptzg BPP� Y -
<br /> pjg�T,w the mortgaga insurana pnmiwn to be Paid by i.ender w the Secremry ar to the monthly charge by
<br /> the Sxretery Instad af the aionthty amrtgage inaurance premium;
<br /> �to aay m�ces. special assessments.leasehold payments or ground renta,and fu�e, tlood and other
<br /> urana premiums,es requtred;
<br /> �p,to lnarest due under tho Note;
<br /> �OUR'I`H.to amortizadon of the prlucipal of the Nou: •
<br /> �[,to late charges due uader thc Nou.
<br /> 4. �,�1�d plher Haz�rd IawrmoG Bomower shatl Iasune aU iropmvemeata oA the Property.wHether aow
<br /> in exisunoe or subsequead erxted.against en hezeids,casuald�s,and canting�°des,includiug fln. for whicb Lender
<br /> requires insnrana. Zt�is inauronx shall be mainytaiped in the umounts and far the perloda thut i,ender roquires. Barrower
<br /> shall also insw�e all impmvemsnta on the Pco�erty,whether aow in existena or subsequexdy e�ected.eSainst loss by Aoods
<br /> w the eactent requ�md by t�e Secretary. Ati msuraace shall be ceiried with compnnies approvcd by I.ender. 71ia.inswanee
<br /> ' policies aad ar►y reneveals shall be held by I.ender and shali include loss payable clauses ia favor of.aad in a fonn aooePtable
<br /> W.I.ender.
<br /> Irt the eveat of loss,Borrower aha�l�ve Lender immediate nottce by u�ail. Lender taay meke praof of loss if aot made
<br /> pro�pp y by Bomower.�Each�lnsurancx oomgany ooncemod ia hereby authorized and di�+ecterl w malce payu►ent for such loss
<br /> �dir�ly to L,ender,ins�euQ flF w Bonower and to Lender joindy. All or any pait o��tlu ineurence Proc,00dS nn►Y be aPPlird by
<br /> Lender,ai its option,eitter(a)w tho rcduction of the indebtedness uadet tha Nqt�and thia Securlty Instrumcat,fuat to any
<br /> delinquent amounts appUed in the ordec in Parag�raph 3,aad then to ptepayment of prlrtdpal,or(b)to the restnr�tion or npair
<br /> of the dameged prnperty. AuyappIIc�Ion of the proc�ds to the prlr►etpal sl►a11 not eatend or postpone the dua date of the
<br /> monthly payments which a�refemed to ia Patagraph 2.or change the amount of such payraeuts. Any exc�ess inaurauoo
<br /> •pmcads over en emountrtquired to pay ali outstanding indebtodness wider the Note and this Sectuiry Instnut►ent shall be
<br /> paid to the entley legally enNded thereto. •
<br /> In the event of fireclosura of thiia Seauity Iastrument or other trrransfer of.title to tha Pcroperty that exdagulshes the
<br /> indebtedness.all dgl►t,title and interest of Bornowa in and to insurenoe policies iu�force shall pass to the puuchaser.
<br /> S. Oacup�.y. Prtserv�tbn, Matntsnnna and Protedlon oi t1�e Pi+operty3 Borrowsr's Loan Application4
<br /> I.et�scholds. Bozrower aha11 oaupy,estel�lish,aad use tha Propeity as Bo:rower's princIp�l residence witLin sixty days aftet
<br /> the execuflon of ttils 3ecurlty Insuument and shall continue to oocupy the Frope>>y+�s Humower'8 priaciP�l�sIdence for at .
<br /> least one year after the�ats of occupancy,tmless the Secretary detem�ines this requirEment wlll cause undue bardship for
<br /> Bonnwer.or uniess oxtenusdng circumstances exist which are beyond Borrowes's control. Bomower shall notify Lenders of
<br /> any extenuating ciccumstanoe.s. Borrower shall not commit wesu or destroy�damaga or subsfanflally cttengf�8��rty o�r
<br />- allow the Property to detertorate. mesottable wear end oear excepLed. Lender may inspect the 1'ropetty,i p�ty
<br /> vacant or abaadonod or the loan is in default Leader may mko reasonable acdon w pmuct and preserve such vaca�u or
<br />- abandoned PropeRy. Bon+�wcr shall utso be in default if Borrower.during the loan eppHcation proces.�,gave�natcrially false
<br /> or Inaavrate infom�ation or statements w I.ender(or faited ta pmvide L.eader with any material infoimatfon)in oonnxdon
<br /> with the loan evidencal by the Note,including,but not limtted W,reptesentadons cortceming Borrower's occupancy,of the
<br /> Property aa a principal nsidena. If this Security Inst�ument is on a leasehotd,Borrower shall comply with the provis�ons of
<br /> the lease. If Somower acquices fee 6tle�o the Pimperty.the leasehold and fee dfle shaU not be merged unless Lender agrees to
<br />- the mergcr Itt wrIting. bj.�� �p��
<br /> 6. W Borrower and Pmtectton of I.ender•eN�te in the Pro�^'���1. Borrower shell pay sllQ{�mcmmental
<br /> .� •..�_3!.. ti�__�L A n��...�r�I.���r���OW�wN�SwY�iMa M
<br /> or tmmicipal crierges.IU1G4 81tG 11i1FOS1II0i1S UIBt 9iC noi tnCtttaw u�rmn�aEra� i. uvaww�.a m�da yo� ....o..w..p........�..»
<br /> t[me directly to thr.entiq+ whIch is owed the payment If feilure t�pay would adve=sely nffecK Lender's inoerest ii+ the
<br /> - Prnperty,upon Lender's request Borrower ahaU promptiy fl�rnish to Lender receipta evidettcing these�paymeata. _
<br /> - If Borrower fails w make these payments or the payments cpqutred by Peragraph Z.or faUa to perform any other
<br /> covenants and agroementa oonmi�eed In tWs Secun�ty Iastcument,or there is a[egal proceeding that may signiffcanUy effect
<br /> I.ender's rights in We R+operty(such as a pmcee,�ing in bmil�uptcy,fvr wnclemnadon or to enforce laws nr regulaBonu), _
<br /> deen I.ender me do and ay whatcver is necessary to protect the value of dre Property and Lender's rlghta in the Property.
<br /> including payment of mxes.hazerd insuranoe and other items mendoned in Paragaph 2.
<br /> Any amounts d�sbursed by Lender under this Parngraph sha11 beoome an eddiflonal d�bi of Borcower and be secured by
<br /> this Security Instcumen� 'Ifiese amounts shaU bear interest from the date of dtsbursement,at the Note rate.and at the opHon
<br /> of I.end�r.shall be imracdiately due end paynble.
<br /> (Pcgt 2 of 4 pagei)
<br />
|