|
� _ . ..
<br /> �„ . ..�_._._.._._:.._ . _ .. _ - - ... __ -_ -
<br /> _.-_�.- :��' ---... . . -
<br /> ��-��� --_— ----__ "_'�_�-
<br /> _ _� �
<br /> _....
<br /> —
<br /> _.... .._..�..,.�.e.......__ri�-r�i�lY'r�:.'�'l7� _:...._�___ .
<br /> � � �0��
<br /> Ttu Fuikt� shail t►e tulJ in ;u� in+tit�tiun wh���c dcFx,�it. an inwrcYl h}� a f.vJcral :�e�k�. u�.trumcntality. ��r r!�tit}•
<br /> (itxluJin�Lci�:tcr, if'Letxlet is�u�h wi ii�.�!itulioN��r iit a�i�•f�ctilcrul Huiix l.��n H,uiL.. LA�xlc��hall;+pply thc f�wxl.�u�+}�the
<br /> F.vruw itein�. I.en�lc�•na+y �kd�iau•Ec Ei���:oK�. tor tx�ldir�and a��l}�iny,th� Fund�, anslu2ll��aftala�ring Ihe e.�n��+•accv�u��t,rr
<br /> ve�ifying thc li�cmw• Itrm�. unlu�s l.rtxkr �u�•.aun�wrr iu�cr�st un tt►r Fuixi,•rMl a{+pli�•ahlc I�w•�muts l.�ixfcr�u nule wrh
<br /> a rh;ug:. Hoa•e�•cr. l.ende: tna�• reyuire t3��irowrr ta�wy a�yk•tinx�•h�rge fur�►n in.f.�ii:knt rcal c�t:►tc t�z rcpurt�t��ervi�r
<br /> usccl b)• Lcnd:r in cwii�tiai w•I�h thls Awi, u�dc�s u�+licahlc law• pm�ides �KhcrKik. Unlc�� un :ytr�Ynknt i� n�lc ur
<br /> uppllc�bte law reyuircs intere�t ea he�id. l.rixier�h:Ul ix�t he reyuirai to pay&muHC�w►� iuicw.i u� cr�iiiil�;���il iiK:u;�1s.
<br /> Hc�rraw•er an�l i.endcr n�ay •agR�e in writin�,tx.w•��•er. tlut inter��t�hall be p:ricl un ttk Fu�x1.. Iw�xkr.tull gi�•r tu Dorr�►w.r.
<br /> wittuwt ch:ugc, a�i annuai ac►au�uinK i�F t1u Fundc. �ix�wing crcditc aixl uroil� to tlk Fui�.t+�;ixi th� pu�TM�.� fur whi�h ;:a;h _
<br /> dcbit tn thc F'u►:ds was nusle.The Funds an plcclgcJ a��uWitiu:ul tiecurity for u!{ tium��ccur�v!hy this Sc:urit�• Imtivmc�u.
<br /> If thc Funcis hetd by laiuler excceJ thc rnxwnts�Rrroitt�tii to hc luld by appli�ahlc la�, Lcnd�r�hafl;KCUUnt ta&�rmwer
<br /> for the excess Fund� in accarda�ue w•i�h tht rcqui�•ements uf ap�licable law. If Ihe anxwnt of the Nutx1�held hy l.e�rler at an}•
<br /> tinie is not wFhcient tn p�}' th�: �sc.ro.v Item�w•h:.n dur. [x,u;er n�:►y u��x,tify Gano�:er in writi�ig. �n:i. in�ouh ca�.&�rniuer
<br /> sh�tl pay to L.ender the a�rxwnt ixcessary to mal:e up the deticiency. E3urrower slull m:d.c up �he dcPiciency in �x� n�re chun
<br /> twelva nxmthly pay ments,at l.ender's u�le discretion.
<br /> Upon payment in full of al! sun�.c secured by this Securit� lnctrument, L.cnder shall prwnptly refund to Borrower :u�y
<br /> Funds hel�by l.cndcr,lf, undcr paragraph 21, l.ender stwll acyuira ar seU the Property,Lender,prior to thc a�:yui�ition or salc
<br /> of thz Prnperty, shall apply any Furds held by Lxnder at thc time uf:u:quisitian ar sale as a creJit�ainst thc sunu securul by
<br /> this Security lnstroment.
<br /> 3. ".a�..�'..rli�::�f°:yme.°.:s.Unless �pplecablc law n�ovictec ntherwixe. all nayments reeeivod by l.ender under paragraphs
<br /> 1 arui 2 shall be applied:first, to any ptcpayment charges due under the Note;second,to amounts payablc undcr par�raph 2;
<br /> third,to interest due: fourth,to principzl due;and last,tc any late charges due under the Noie.
<br /> 0. Cl�rges;Liens.Barrower shall pay alE taxes,assessments,charges, fines and imp�sitions attribuwble to the Property
<br /> which may attain priority o��er this Security instrument, and leasehald paymentc or grcwnd rents, if any. Borrower shall pay
<br /> these obligatio�u in the manner provided in paragr.►ph 2,or if not paid in that manner, Borrow•er shall pay them on time directly
<br /> to the person uwed payment Borrower shall promptly fumish to l.cnder all noticcs of amounts to be paid under this paragraph.
<br /> If Bortow+er malces these payments dicectly,Borrower shall promptly furnish to i.ender receipis evidenciag thc payments.
<br /> Borrower shall promptly discharge any lien which hac prionty over this Security Inurument unless Borro�ver:(a)agrces in
<br /> writing t��the payment of the obligution secured by the lien in a m�nner acceptable to L.e�xier;(b)contests in goad faith the lien
<br /> by. or defe�cis aga'snst enforcement of the lien �n, legal procreciings which in the ixnder's opinian operate to prevent the
<br /> enforcemen�oi uie iien:or �C�,Ctiu�C�fiUiil l�'ic ,iO��cP v�2fiC li�::a�'1 S$T...°ift.°.IIl:�1�1SFOC:O!`j S4 t�!l�tS'S�!�?i�f►�!?!?�ltlo[�1?�trrl tA
<br /> this Securiry InstrumEnt.lf Lender detemunes that any part of the Property is subject to a lien which may attain priority over
<br /> this Security Instrument,Lender may give Borrower a notice identiiying the Li�n.Borrower sl�all satisfy the lien or take one or
<br /> more of c11�a..^tions set forth above within 10 days of the giving of notice.
<br /> 5. �{u.1rd or Property incursnoe. Borrower shall keer the improvements now existing or hereafter erectec! on the
<br /> Property insured against loss by t'ire, hazards included within the tenn "extended covenge" ard any other hazards. including
<br /> floods or flooding. fot which L.endet requires insutance. This insurance shall be maintained in the amounts and for the periods
<br /> that Ixnder reyuirec. The insurance carrier providing the insur.u�ce shall be chosen by Borrower subject to I.endtr's approval
<br /> which shall iwt be unreasonably withheld.]f Borrower fails to mainrain coverage described above, Ixnder may. at Lender's
<br /> option.obtain covemge to ptotect Lender's rights in the Propert�r in accordance with paragraph 7.
<br /> A!6 iasur�nce policies and renew�ls shall be acceptable ta I.ender and shall include a.star�dard mortgage clause. Lender
<br /> � shall Rave the right to hold the policies and renewals. If Lender tequires,Borrower shall prompily give to Lend�r all receipts of
<br /> paid prcir.iums and renewal notices.In the event of loss,Borrowe:shall give prompt notice to the iiuurrire carrier and L.euder•
<br /> Lender may make pn�of af toss if noi made promptly by Borrower.
<br /> Udess l.erdes aad Borrower othtrwise agrce m wnung, insurance proceeds shall be appliod t�reswration or re�air of the
<br /> proputy dzmagod,if the restoration or repair is eoawnucally feasible and Lender's security is not lessened.If the restr�rition or
<br /> repair�ivai a�nonueaiiy 1C7.►1VtC VI I.ClltlGl�S 3CLt11�ly �►Giiiu��ia'.'tw.ia.i���iw iTieMra�.w N ww'�'+�..+a�iu.�:w�l.::..�..►�►lr e� a _ _
<br /> secured by ttus Savrity Instniment, whether or not then due, with any excess paid to Borrower. If Bomower•ao�xLi the
<br /> Property, or does not answer within 30 days a notice ftom Lender that the inwrance carrier has oft'ered to seitle a�.:.im, then
<br /> Lender may callect the insurance proeeeds. I.ender may use the proceeds to repair or restore the Property or to pay swns
<br /> secural by this Socuriiy Insttument,whether or not then due.The 30-day period will begin when the noti�is given.
<br /> Unless I.eader and Borrower oilierwise agi�ae in wridng, any application of proc�eeds to principal sh�ll not extend or
<br /> postpone the due date of the monthly payments rcfemed to ia paragraphs 1 uu12 or change the a�nount of the payrnezus. If
<br /> under paragraph 2! the Proputy is xquired by Lender, Borrawer's right to any insurance pulicies and praoeeds resutdng from
<br /> damage to the Ptoporty prior to the xquisition sl�all pacs to Lea�r tc�the extent of the sum.�secured by this Soeutiry Instrucnent
<br /> imabdiatdy prior w the acquisit�on.
<br /> 6. Oa�ttpitacy,H�eservatioa,INs�intenaace ssd Protectiou ot t6e Pt+ope+Ry;Bomower's I.cwa Applicatba;Leaseholds.
<br /> Borrowar sl�all occupy,establish,and use the Property as Borrower's principal residenoe within sixty days�f'ter the exocution of
<br /> . this Securiry Insuument and shall continue to occupy the ProQerty as Borrower's princigs[cesidtna for at least one year after
<br /> the d�te uf occupancy,unless I.ettider otheiwise agrees in writic�, which consent shall not be unreasonably witlsheld,or unkss
<br /> extenuacing circumstances exist which are beyond Borrower's control. Borrower shall not desuoy. �amage or impair the
<br /> Property, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture
<br /> action or prooeeding.whether civil ur criminal, is begun tl�at in Lender's good faith judgrnet�t could re.wlt in forfeiture of the
<br /> Property or otherwise materially impair the lien created t�y this Sec�rity Instrument or Lendu's socurity interest.Borrower may
<br /> cure such a defaulE and reinstat�.as providal in pangaph 18,by causing the action or proc�aeding to be diunissed with a ruling
<br /> tt�at, in E.cader's good faith determin�tion, precludes forfeiture of the Borrower's inte��t in the Property or other m�terial
<br /> impairrr�eat of the lien created by this Security Instrument or Lender's securiry interest. �orrower shall also be in default if
<br /> Borrower,during the Iozn appliption proass.gave materially false or inxcurate infom�ation or statements to Lender(or failed
<br /> to provide Lender w-iL'�any material inforn�ation)in connection with the loan evidenced by the Note,including,but not limited
<br /> to,rEpreseatatiau concenung Borrower's occupancy of the Froperty as a principal residence.If this Securiry Inurumeni is on a
<br /> letsd�oic�, Horrower shall comply with a11 the provisions of the lease. If Borro�ver xquires fec title to the Property. the
<br /> leaseho'd u�d the fee title si�ll not merge unless Letukr�grces to the merger in writing.
<br /> 7.Protection of I.eader's Rlghts in the Property.If Borrower fails to perform the oavenants and agreements oontained in
<br />- this Security insttument, or then is a legal praceeding that may significanJy affact Lencler's rights in the Property (such as a
<br /> �,roa�i�►g ir� �n:-rtspiry, prasatc. FOi COSi�.3"".�,...'i8ti OI f01"E�Citi1TC OT t0 CiffOr'CC I:�t•s or re�l�tio�ul. then L.�.�xler may do an:!
<br /> pay for whatever is neccssary to protect the value of the Property u�d Lender's rights in the Property. Lerder's actio�u may
<br /> include paying any sums secured by a lien which has priority over this 5ecuriry Inetrument, appearing in court, paying
<br /> reaso�ie attorneys'fees and enttring on the Property to maSce repairs.Although Lender may t�3ce action under this paragra�h
<br /> 7.Lender dces not have to do so.
<br /> Any amounts disbursod by Lender under this paragraph 7 shall become addiiional debt of Borrower serured by this
<br /> Security Instniment. Unless Borrower and Lender agree to other terms of pa}mient, these amounts shall bear interest from the .
<br /> date of distwrsemznt ai the Note rate and shall be payable, with intercu. upw� notice from L.et�der to Bortower requesting
<br /> PaYment.
<br /> 8_Mortgage insuranee. If Lender required mor:gage insurince as a condition of making the loan secured by this Sccurity
<br />- Insi:c:ment, Borrower shall pay the psemiums required to maintain the mortgage insurance in effect. If, for any re�on, the
<br />- mortgage insurance coverage requimd by Lender lapses or ceases to be in effect,Bonower shall pay the premi;►ms requi�ed to
<br /> obtain coverage substantially equiv.�ilent to the mortgage insur�arice previously in effect,ai �cost substantially equivalent to the
<br />_ �oost to Bonower of the mortgage insurance previously in effect. from zn altemate mortgage inwrer apptaved by Lender. If
<br />_ .
<br />= vp�2 of� Fotm 3028 9l90
<br />
|