|
- . .F • f i' _dr,ti'� 4�. � ' - —'.....-----`-----�.'-t.-
<br /> '.O
<br /> �'.�
<br /> � ����Y� �,. ..
<br /> � Ttte Funds sha11 be heid in an instittHion whose deposits are insuted by a fede��gency. �nstiumentality, or enury �;-
<br /> (inctading Lender,if Le�er is such na is�scitution)ar in any Federal Hoine Loan 8ank.Lender shall apply ttLe Furds to pay the �:
<br /> - F�sro�d[tems. Ler.der may nna rh���e&orro�er for hotding and app�ying the t��nds. antsually nnatyaing tde escrow account.oi _
<br /> vereiyiag the Escrotv Items,�s Lender pays�rro�ver interest on the Funds and applicable law pernuts Lerder to make sucd
<br /> a charge. Ho�vever, l.end�rr may require Borrower to pay s one-time charge for an indc�eadent real e�tate t,vc reporting sen+�ce �
<br /> usgd b Lcszder in cann�tian tvith this loan. unless npplicable law provide+ othenvise. Unless an asmement is made or
<br /> t
<br /> � appli�le la�v requires intcrest to be paid.Lender shall rtot be required to pagr Bareower any interest or carninas on the Funds• �_
<br /> 8orrower nnd Lender may agree in writing, however. that intcrest shalf ix paid on the Fund�. Lender shall g�ve to Borrower. �__
<br /> witl�nut charge, un unnual aceountin8 of the Funds,showing credit;srtd debits to the Funds und the pnrpose for wh'sch eash �y.-
<br /> debit to the Funds wa�made.The Funds are pledged as additional secarity for ali surtu secured by this Securiay[nstnuuent. �:.:
<br /> • If the Furtds held by Lender exceed the amounu pemutted to b�held by applica�ole law.Lende�shatl nccount to Borrow;.r _
<br />�, for the ezsess Funds in accordance with t6e reyuirements of applicable law.If the amnunt of the Funds held by Lender at any =-_
<br /> tim:is not suff cixnt tu pay che Escrow(tems when due.Lender may so aotify+ 8orrower in writing,and,in such case Bor►ower �_
<br /> shalj pay co Lec�f�r the amuustt necessar�to�c:�p the deFcieu�.B°n°wer shrJl make up the defic►ency in nu more than �_;
<br /> twelve monthly paymen�s.�t L.ender's sole diuretian. �"�.;
<br /> Upon(s3yacent in fi�ll of all su�s se�red by tt�is Security lauaumc.�st. d-enzie*Shal� Aromptiy refund co 8orro�ver any �
<br /> Funds heid by Lender.If,under Qaragtaph 21,Lender shall acquire or sell the Pre�st�ty.[.ender,pnor to�he acsjuisition or salc �,.
<br /> of the Pcaperty.str•�I app3y any Fwids held by Lender at the time of acquisition or sale as a credit ag�inst the su¢ns secured by �_
<br /> this Sea.trity Instrument.
<br /> 3..lppiteatton of Payments.Unless applicable lawes d e under the Nate- speaon�d.to amounts payab ee�nder paraBraPh ZS
<br /> 1 a�2 sha116e sgpliad: fitist.to any prepaymeut charg ��
<br /> third,to interest due;faarth,to prisuipa!due:and last.to any late charges dne under the Nate. _
<br /> 4.Chaiges;Liea,. Bosrower shafl pay all taaes.assessments. charges� fcnes and impositions attributable to tbe Frope�ty �i,
<br /> which may attain priority aver this Security lnstrument,and leasehold payments or ground t+ents. if any. Borrower shall pay �
<br />���°.�-�F these abligations in the�aoner provided in ParagraPh 2.or if not paid in that mannes.Borrawer shall pay them on time dira�ty -.T
<br /> ��:_ to the person owed paymeM. Bormwer shult promptly fumish to Ixnder all notic�s of amounu W be paid under this P�b'�Ph- ���
<br /> If Botrower makes these payments direcdy.Borrower shall promptly futnish to Lender receopts evidencing the payments•
<br />� Borrower shal!prompdy discharge any lien which has priority over this Secu�ity!��*^�mem unless Borronver.(a)agm�s in ,_
<br /> • waiting w t9�e payment of the obligation secured by the Qm in a marmer accep9a'nle to Lender;(b)oontests in�fa:nh the tien ,
<br /> . by.ar defends against eafnc�ment of t he lien in. teg�! p t n c e�p g s whicl� ia tG� I.eader's opinion oper� �o�reveat the �_^'_
<br /> enforoement of the Gen:or(c�sewres from the holder�f rr�s lien an agceeme�t sa;�sfactory to i.ender subordinaair.g the liea to �x ,
<br /> .' • � this Securiiy lnsarument. If Lender deteanines that any p�--t nf the�t�gc�ty is subject to a hen which may anain prioriA;i v�c.s �N-_.
<br /> �}%��� this Secnrity I�..u�ment. I.ender may give Borrower a uause idea��+*.isg the lien.Eonower shall satisty the lien or talce e�c M �
<br /> ,�;',•�•' mc�ce of the aetions set forth above within 10 days of tl4s p�+ing of nfldce. °-
<br />.��,� Im,,�w�snee. Horrower �a'il keep the improvements now existing or hereafter erecced on the ��"'__
<br /> f:,s 5. Ha7ard or t'roPeri3'
<br />.,;�'�{ ProPer�I+insured aO�toss by fire. ha7ards includese�a:thin the term "extended wverage"and any ather E;a�n''s,incladin� ��:
<br /> • flaods or t�ooding,for which Lender requires ensurauce.This insur-ance shall be maintaiued in the am°m'ts�"�fr,rr the periods
<br /> �'� that Lender requires.Ttte insurance caszi�providing the insurance shall ioe chosen by Barrower subjecX to�s's approval �'
<br />�:: 4 which shall not be unceasonably arit6hw� IIf Borrower fails to maiatasn wverage descei6ed above. Lender�ay. ai Le�►der's =
<br />:��},�` aption,obtain ooverage w protect Lender"s rigtsts in the Property in aoeordaace wi�paragraph 7. --
<br /> All iasurance poiicies and renewals shall be acceptable to Lendzr and shz'.i 's.�lutte a standard mort���wt�use. L�der �
<br />':';%�- s�all 6ave the right ro hold the�rolicies and renewals. U Leader reqyims.Borro�s�all promptiy give w I�r:�receipis�f '�;s:'-_
<br />;.:;>,� p�i�premiums and renetvaf e�erices.Iu the event of loss,Borrower s:.�give pmmpt aotice w the msurance caimier and 1�'-, _____
<br />�:�`F't Lender may me:se pmaf of[oss if not m�e pmmpdy by Bosourer_
<br /> �s UNess I�der and Borcower oth�w-ic�agree m wnang,insumcaae�meeeds sbnll be applicd to restoratian or�p�r e�tJb�
<br /> :i�,., propesty dam�ged.if the restaration or reg�is economically feas�'ia[x�rad Lender's security is not lessened.If th�restotatio���
<br /> . repair�s not economic�lly feasible or Lendei s sQanIry would be lessened.the insvrance Fro�eds shalt 6e a�Pleed to zhe sums
<br /> secured by this Security lnswmeut, whether or not then due.witS�any excess paid w Botrower. If Barrowee abandans the �:,-
<br />,e'IFI:: ��rtY,or does not answer witHin 30 days a natice from 1.eadeT that the insurance c�iec has offered to sext�e a claiw,then
<br /> �� s' Lender may oollect the Insutauce proceeds. Lender may use the proceeds to repair or ratore the Fiaperty.or to pay sums
<br /> :�k`"��, s�r�by this Security Instrument,whether or not then due.The 3U-day pe�od v�nU be8in when the notice is given. �.•
<br />-:=:�'�• Unless Lender and Borrower otherwise agree in writing, anY aPPlicahan of proceeds �s�fincipal shall not eatead or =:_
<br /> ''�''` postpone the due'date of the month{y paymen�c refernQ to in parag�a�phs 1 az►d 2 or change r��amount of the payments. If
<br /> �.,
<br /> undor h 21 the Property is ired by Lender.Borrower's right to any±���+�nce policies and prnceeds resulring fmffi —
<br />:;:��i�': damage t�o tgt►e Proy�ty prios to the a�oquisition shall pass wLender to the eacetn c�'ia§��nms securrd by thi5�+t'�;Y�s��t =_-
<br /> `���3, , iarmediately prior to the acqwsition. __-
<br /> ��� 6,pr.�pancy,Pecserva@an,D/dniuc�nce and Protedlan aY��la��ropert9;Borrower's G�an Appll�n;L�Sn1du.
<br /> �'r, Borrower shal!occupy.esiablish,and u��*�Property ag Bo�ower�yrincipa}residenne within.afier,�days after the exerutioa of
<br /> �'2�;`'� this Security Instrument aad shall mnti�T.��to occupy the Propert3+as Borrower's principal resia7s�..�e for at L�ast ane yeas sifter
<br /> �.,;4�;, • *he date of occvpancy.an[c.�.��.ender adtenvise agccx:a.i�writing. which consent shall not be unreasanablu;.usi�r�eld,or unte� _..
<br /> �,� • ��teauating circumstances ��:�:�. whi�!;�re beyond �.�.�cawer's control. Borrower shall not destrop. distu��t ar impair the �
<br /> �;�1�k`x: Property, allow the Pirope�q co deser:r�;��ae,or cocr�rt waste on the Property. Borrower shaU be in default�f any forferture �,::,
<br />_. ��„�
<br /> _ii,-;rds�.: action or proceeding,wD�ether civil ar�a�r�x�u�al, is b�zgun that in�:��3er's goad faith judgmeat could reFalt in forfeiture of the
<br /> - Property or otherwise mz:..�.a11y impar i^.L,e fien cre�t�by tlus�sa�''��Instrument or Leader'��sA�rity interest.Sorrower may �:
<br /> - c���n a a�W�at►a�;rn�r.zte,as provided in par.:.;�'r{��18.b3+�ng the action or prac�`..;!��to be dis�:�ed with a r�ling
<br /> ,' that, in Lender's gaad f�t��etermination. Precludx:`f firfei'ure c�f the Borro�+�r:.� interest in the Frope�z �;nr other material �`L
<br />�"r.`.5.< �� impairment of Ehe lien c�sted by this Security Instr�unent or 7.c�r�er's security interest. Borrower sha11 a�su be in defauit if ,
<br />!1-`DU,* f o� —
<br />,,.-.�f Boaower.during the loan application FTQOess.gave anaterially ful..:.�+t:�faocurate infom�ation ar�tements to Lender{or f.ilr.d
<br /> :�;;� , to pmrvide Lcuder with any mazerial inlnrn�ation)in connection�viojc��h�loan evideaced by the���a:,incJuding,but nat 1s�sfi�d
<br /> ' ' to.tepiese�ons concetmng Borra�v��s recupancY of the Proper.t�as a principal resIdence.Y�1�Y114``�'•Cll!lLjl IflSTtUIIIt31L iIk•hYSI.iP
<br /> teasehold. Bonower st�all comply witii ,�i the pcnvisinns of the tease. if Borrower acquires 4�e title crr dliz C*`r��r,v_tite �'��.
<br /> leasehold and the fee tide shall not merge unless ixn,!rx,�rees to the merger in writing. ___
<br /> 7,P['OZCtIIOD Ot I.CIIGCT'S I�E�18 IA 111P PfOpfHK�•7f Borrower fails to perform the covenants and a���r�rans aontained in __
<br /> , this Securiry Insuument,or there is a b:ga)prooeeding that may signif cantly affect Lendei s righu in the L%tv�e:tty (sach as a ,�-_
<br /> proceeding in btmktt�ptcy.prabate. for�ndemnation or forfeiture or to enforce laws or regulatir.:ts), tlien Ler.der may drs�nd �
<br /> Qay for whatever is necessary to pm�r�x the value of the Property an:d Lender's righu in thc!?rr,perty. Ler.der's actiom:.ms�y
<br /> •� mclude paying any sums sfsxu��± L•y a lien which has priority over this Secuiity inswincqct. appearing in court, g��*utg �-;
<br /> reasonable attomeys'fe�s n►vr3 c��i:sing on the Propesty to make repairs.Althou�b I.ender may take action andcs this paragaph _
<br /> 7.Lender does not have to do so.
<br /> qny amounts disbnrsed by Lender under this paragraph 7 sh�ll become additional debt of Bomower secuied by this
<br /> ' Security Instrument.Unless Borrotver and Lender agree to other tem�s of payment,these amounu shall bear interest from the
<br /> ' date of disbwsement at the Note mte and shall be payable. with intecest, upon notire from Lender to Boaower requesting �
<br /> payment.
<br /> . ' 8.Mortgage Insnrance.If Lender required mort�e insuranoe as a candition of making the loan secured by this Security ��-
<br /> . • Irutrument. Borrower shall p�y the pmanIums re�uim�co mamtain the mortgage insurance in effece. If, for any reason. the
<br /> mottgage Ingurnnce caverage�e,quir�by Lender lapses or ceases to 6e in effect. Borrower shal)pay the premiiuns requir�d to �
<br /> � ' ' obtain caver�e substantially equivalent to the mortgnge insurance previously in effect, at a wst substantially equivalent to the
<br /> oost to Borrocver of the mortgage insurance previoasly in effect, from an altemate ma�tgage insurer appmved by Lender. If `
<br /> �, beyo�o+a ' Fonn 3038 �JIflO �
<br /> �,,
<br /> - J_.
<br /> � ' . . . .. . ,, . . .,, ... : � �
<br /> � .� . .:�. . � � . .
<br /> ,,. . . . . .. .,,, . . .
<br /> ; . � . � . . . . „ .. .. _ . . � , .
<br /> s . .� . . .. '�.. . �. .. . . .; . _ , . � . . , .. .. . � � „' .. , � .. :,� , _
<br />
|