My WebLink
|
Help
|
About
|
Sign Out
Browse
200903047
LFImages
>
Deeds
>
Deeds By Year
>
2009
>
200903047
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
4/23/2009 3:53:19 PM
Creation date
4/23/2009 3:52:25 PM
Metadata
Fields
Template:
DEEDS
Inst Number
200903047
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
5
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
<br />200903047 <br /> <br />B~RROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and <br />has the nght to gram and convey the Property. and that the Property is unencumbered, except for <br />encumbrances of record. Borrower warrants and wIll defend generally the tille to the Property against all <br />claims and demands. subject to any encumbrances of record. <br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform <br />covenants with limiled variations by jurisdiction to constitute a uniform security instrument covering real <br />property. <br />Borrower and Lender covenant and agree as follows: <br />UNIFORM COVENANTS. <br />1. Payment of Principal, Interest and Late Charge. Borrower shall pay when due the principal of <br />and interest on. the debt evidenced by the Note and lale charges due under the Note. ' <br />2. Monthl)' Paymcnt of Taxes, Insurance, and Other Charges. Borrower shall include in each <br />monthly payment, together with the principal and interest as set forth in the Note and any late charges. a sum <br />for (a) taxes and special assessments levied or to be levied against the Property, (b) leasehold payments or <br />gro.und rents on the Property. and (c) premiums for insurance required under Paragraph 4. In any year in <br />wluch the Lender must pay a mortgage insurance premium to the Secretary of Housing and Urban <br />Development (Secretary"). or in any year in which such premium would have been required if Lender still <br />held the ~ecunty Instrument, each monthly payment shall also include either: (i) a sum for the annual <br />mortgage !nsurance prem!um ,to b~ paid ~y Lender 10 th.e Secretary. or (ii) a monthly charge instead of a <br />mortgage !nsurance premIUm If this Secunty Instrument IS held by the Secretary, in a reasonable amount to <br />be determmed by the Secretary. Except for the monthly charge by the Secretary, these items are called <br />"Escrow Items" and the sums paid to Lender are called "Escrow Funds." <br />Lender may. at any time, collect and hold amounts tor Escrow Hems in an aggregate amount not to <br />exceed the maximum amount that may be required for Borrower's escrow account under the Real Estate <br />Settlement Procedures Act of 1974. 12 U.S.C. * 2601 ~ and implementing regulations, 24 CFR Part <br />3500. as they may.~ amend.ed from time to tu.ne ("RESPA"). except that the cushion or reserve permitted by <br />RESPA for unantIcIpated dIsbursements or dIsbursements before the Borrower's payments are available in <br />the account may not be based on amounts due for the mortgage insurance premium. <br />If the amounts held by lender for Escrow Items exceed the amounts permitted to be held by <br />RESPA. Lender shall account to Borrower for the excess funds as required by RESPA. If the amounts of <br />funds held by Lender at any time are not sufficient to pay the Escrow Items when due, Lender may notify the <br />Borrower and require Borrower to make up the shortage as permitted by RESP A. <br />The Escrow Funds are pledged as additional security for all sums secured by this Security <br />Instrument. If Borrower tenders to Lender the full payment of all such sums, Borrower's account shall be <br />credited with the balance remaining for all installment items (8), (b), and (c) and any mortgage insurance <br />premium installment that Lender has not become obligated to pay to the Secretary, and Lender shall promptly <br />refund any excess funds to Borrower. Immediately prior to a foreclosure sale of the Property or its <br />acquisition by Lender, Borrower's account shall be credited with any balance remaining for all installments <br />for items (a). (b). and (c). <br />3. Application of Payments. All payments under Paragraphs I and 2 shall be applied by Lender as <br />follows: <br />First, to the mortgage insurance premium to be paid by lender to the Secretary or to the monthly <br />charge by the Secretary instead of the monthly mortgage insurance premium: <br />Sccond, to any taxes. special assessments. leasehold payments or ground rents, and fire, flood and <br />other hazard insurance premiums. as required; <br />Third, to interest due under the Note; <br />Fourth, to amortization of the principal of the Note: and <br />Fifth, to late charges due under the Note, <br />~. Fire, Flood and Other Hazard Insurance. Borrower shall insure all improvements on the <br />Property. whether now in existence or subsequently erected. against any hazards, casualties. add <br />contingencies, including fire. for which Lender requires insurance. This insurance shall be maintained in the <br />amounts and for the periods that lender requires. Borrower shall also insure all improvements on the <br />Propeny. whether now in existence or subsequently erected. against loss by floods to the extent re~uired by <br />the Secretary. All insurance shall be carried with companies approved by Lender. The insurance pohcies add <br />any renewals shall be held by Lender and shall include loss payable clauses in favor of. and in a fortn <br />acceptable to. Lender. <br />In the event of loss. Borrowcr shall give Lender immediate noticc by mail. Lender may make proof <br />of loss if not made promptly by Borrower. Each insurance company concerned is hereby authorized and <br />directed to make payment for such loss directly to Lender. instead of to Borrower and to Lender jointly. All <br />or any part of the insurance proceeds may be applied by Lender, at its option. either (a) to the reduction of the <br />indebtedness under the Note and this Security Instrument, first to any delinquent amounts applied in the order <br />in Paragraph 3, and then to prepayment of principal. or (b) to the restoration or repair of the damaged <br />Property. Any application of the proceeds to the principal shall not extend or postpone the due date of the <br />monthly payments which are referred to in Paragraph 2. or change the amount of such payments. Any exce~s <br />insurance proceeds over an amount required to pay all outstanding indebtedness under the Note and thIS <br />Security Instrument shall be paid to the entity legally entitled thereto. <br />In the event of foreclosure of this Security Instrument or other transfer of title to the Property that <br />extinguishes the indebtedness. all right. title and interest of Borrower in and to insurance policies in force <br />shall pass to the purchaser. <br />5. Occupancy, Prcscrvation, Maintcnllncc an~ Protection of the I)ropert~'; Rorro\~cr'~ L?an <br />Application; Leaseholds. Borrower shall occupy, estabhsh. and use the Property as Borrower s pnnclpal <br />residence within sixty days after the execution of this Security Instrument (or within sixty days of a later sale <br />or transfer of the Property) and shall continue to occupy the Property as Borrower's principal residence for at <br />least onc year after the dale of occupancy, unless Lender detemlines that requirement will cause undue <br />hardship tor Borrower. or unless extenuatiJ;tg ci~cumstances exist which are beyond ~orrower's control. <br />Borrower shall notifY Lender of any extenuatmg circumstances. Borrower sh.all not commit waste or destroy. <br />damage or substantially change the Property or allow the Property to detenorate, reasonable ":ea.r and tear <br />excepted. Lender may inspect the Property if the Property is vacant or abandoned or the loan IS III default. <br />Lender may take reaso~able action to l?rotect and preset;Ve ~uch vacant or abando~ed Property.. BorroWer <br />shall also be in default If Borrower, dunng the loan apphcatton process. gave matenally false or maccurate <br />information or statements to Lender (or failed to provide Lender with any material ~nformation). in <br />connection with the loan evidenced by the Note. including. but not limited to. representatIons concermb.g <br />Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a leasehold, <br /> <br />FIlA Nc:b\;l$ka D:o=d ofTIIlsl MERS <br />162S6.CV (11107) 4200282 Page 2 of5 <br /> <br />~Q:, <br />
The URL can be used to link to this page
Your browser does not support the video tag.