|
� ., .
<br /> � --�-:-....�..�.�.__ ._��=�_
<br /> � .�,�,,�...,�.�..,..� _��,�wrnt " -.
<br /> � �__._. ...�r.�_ �^,.,�.
<br /> { ._._J_.- �DAN N�. 1 5 3 9 2 I C 9 E 5 ,
<br /> „ . .
<br /> I .. ���►l.lw�7�n�� ������t crui Late Cha�e. Borrower shall pay wtien due the principal of,and interest on,
<br /> ( ��F"M�illtfa��v�� • p••�•• , _—
<br /> the debt a�Idenct�d by the fVote and tate charges duc�urxler the Noto. � �`�
<br /> i Z,�o��ty P�yments ot Taxe�,Insw'lnco,and Othef CFw�flo�• Borrower sha��incl!xie in each monthly
<br /> �;yrr�•H,*,oe�h�u w�h the�xlncipal and Interest as set torth in the No�a�and any la�,te�cthaoge rowxi ents ori ihees and � =,,�
<br /> , insi iiw Fi u-� b ! .,....ho!��y 9
<br /> specla!assessments levled or to be levled aga � Y�( 3 �
<br /> � p�operty,anci(c)premlums for Insurance requi�Ad under Para�r�ph 4.In any year in which the Lender must paY a
<br /> �insurance pramlum to the Secretar�►nf Housing ahc!Urban Dei eio�enj(��fe���y�yment shall alsoCh C
<br /> ; mortpa9 W
<br /> s:�ch Freml��m wauld have becu��equlred if Le Oe�rSUUI��a�2►m,u�rtui to be paki by Lender to the Sacretary,or(ii)a �
<br />: i in�lude efthe�:(q a sum for the aimu�al mort�a�
<br /> � mrsnthly charc�e Instead of a mortgage Insuranca premlum if this Securiry Insirument is held by the Secretary,in a �::_�;
<br /> �easonable amou�t to be dete�h Ined�es the�Sac e�eT af e called'Esc ow Fund�rge by the Secretay.these ttems � '�-a
<br /> � are callod"Escrow Itams and t o Pa r ate amount not to exceed the �• .
<br /> � Lender may,at any tlme,cc�lec:t and hold amounts tor Escrorv Items In an agg eg u_' _
<br /> maxlmum amount that may be requi�ed for Borrower's escrow account under the fieal Estate Settlement I'rocedures -�`�Y
<br /> � Act of 1974,12 U.S.C.§2601 et seq.and tmplementing regulatlons,24 CFR Part 3500,as they may bo amonded from .
<br /> � time to tlme("RESPA"),excepi that the cushlon or reserve permitted by RESPA for unanticipated disbursements or
<br /> � disbursertwr►ts befora the Bo�rov�e�'s payments are avaUable in the account may not be based on amounts due for the
<br /> j mortgage Insurance prerr►lum•
<br /> If�h the excess funds as reqeui�ed by RESPA. If the m unt of funds held by Lender a any t me a e not suHic ent
<br /> ' deal w
<br /> � tapay the Escrow Items when due.Lender may notify tho Bo:rower and tec�ulre 8or�owe�to make up the shorta�e or ,
<br /> det�iency as permitted by RESPA. __
<br /> The Escrow Funds are pl�g i of all such sum Borrower's account s'ha1 be chedned whh thetbalance remain n�g r
<br /> tenders to Lender the fu11 paY ���
<br /> rlor to `�'
<br /> ' for ali Instaliment items(a),(b),and(c)and any mortgage insurance premi�m installment that Lend�r has not ome
<br />` � obllgated to pay to the Secretary,and Lender shall pramptly refund any ex�ess funds to Borrower. immediatelY P �
<br />: s a fore�losure sale af the Praper¢Y or fts ac uisition by Lender,Borrower s account sha►1 be credited with any balance �'�-
<br /> �emaining fot all instailmen�s iui�ia�s{4)�en�ts unde Paragraphs 1 and 2 sha1�be aPpl�ed bY i..enaer as�dl�ws. `
<br /> 3.Applic�tion ot Payments. al Pay _--
<br /> � � FIR T to the mortgage insurance premium to be pa�d bY Lender to the Secretary or to the monthly cha�ge by the `
<br />� Secretary tnstead of the monthly martgage Insurance premium; __
<br /> SECONp,to any taxes,specla�assessments,leasehotd Rayrt►ents or ground rents,and fire,flood and othe�haxartl ci.__
<br />��� insurance premiums,as requirod;
<br />' ' THIRD,to interest due under the Note; _
<br />�� � F R ,to amanizatlon of the p�inc�pa�of the Note: __
<br />, � FIFTH,to late charges due under the Nate. whe4her
<br /> � ' 4.Fire.Flood and t�ther H�rd Insuranc�t a y°�rd�caSUaitles�anPd contingencleshnc:udi�n9 re,for which
<br /> ' ' naw tn extstence or subsequenUy erected,aga ___
<br />`=°' � Lender requires insurance.This insurance sha�l be malnta�ned hether ow in exls encehor subsdequentiy eected uires.
<br /> Borrower shall also insare all improvements on the Property.
<br /> Y .� a�Lender.The �rancehpol c es an�d ain�enY tewals shall be heldiby �Lender and shall�irnctude loss payable claupses In
<br /> � � f Y:�..�,Arxi in a form acceD�bie to.Lertider. , . ., � ..;�A �ow,rinr ma make roof of loss ff not
<br /> " t` � In tha eveni af loss,Borrower shall give i.ender i�nriw�io�a�w..w 5, .�.__.._ . Y P _
<br /> � � made promptly by Bonowec.Each Insurance company concerned is hereby authorized 3nd��rected to make paymern _
<br /> � � for such loss direciiy to Lender,instead of to BoROwer a�d to Lender jointly.All or any part of the insurance proceeds
<br /> may be applied by Lender,at its option,efther(a)to the reductlon of the indebtedness under the Note i of th1 nc,ecu Or
<br /> �nstrument,flrsi to any dellnquent amounis app�ied in the order In Paragraph 3.and then to prepaYmo P� P�
<br />.�.� @)to the restoration or repatr of the damaged property.Any applicatlon of the p�oceeds to the pHncipal sftiail not
<br /> � extend or postPone the due date of the moMhly paYmer►ts which are referted to in P�rag��n9 Inde�btetdn�oss tnder
<br /> d such paymeMs.Any excess Insarance proceeds over an amoun.�uM��th�ereto.
<br /> the Note and this Securtty Instrument shail be paki ta the entiry lega�Y
<br /> In the e�►eM of f�oreclosure of thts Security Insiniment or other transfer of t�de to the Property that extinguishes the
<br /> Indebtedness,atl right,title and interest of Bonower tn and to insurance�dicies in fo��'����iq�n r •
<br /> 5.OccupancY.P�4ssrv�tl�n,�intsnance and Protectlon of the PropaRy;
<br /> Lsas�hp{d�. BoRO�wer sha►I occupY,estab�ish�and use the Praperty as Borrower's pNncipal residence within sbdy days
<br /> _ r =��,......... _
<br /> �r � after the execui I��t���aft r the date of�upancyMuniess the Sepc�retary de�em�ititnes this requs�e�'����°� _
<br /> � � � resldence for a Y --
<br /> ���e h��dship for BoROwer,or unless extenuating clrcumstances exist wh��h are beyond Barowe���BoROwer
<br /> � : sha11 notify Lenders of any extenuating circumstances•Borrewer shall not commit was4e or destroy,
<br /> '" substa�iatty change the Property or allaw the P�aPa�f►to deteriorate,reasonable wea�and tear excepted.Lender maY
<br /> f � Inspect the Property'rf the Property is vacant or abandoned or the toan is In detault Lender maY take reasonabte action
<br /> � , gorrower sha11 siso be in defa�it if BoROwer.during the �
<br /> to prutect and presenre such vacant or abandoned Prope►ty
<br /> • ?� � loan appiication process.9ave materlaliy false or fnaccurate information or statements to Lend°r(or falied to provide !
<br /> �. Lender with any material informatlon)In connectlo�with the loan�a�b�reS�nce�l hiis S urity Instrument is _
<br />_ �� representations concemin9 BorrowBPs occupancy of the Property -
<br /> �a����go�r�r Shali�omp{y w�h the provisions of the lease.lf Borrower acquires fee title to the Property�the
<br /> ' � leaset�otd and fee tftle shall not be mer9ed unless Lender agrees to the merger in wricing. �� oy�mental --
<br /> 4 . g,Ch�rgas to BoROwar�nd Protection of Lender's Riyhts in the PropertyBo ower srhall �pay these obllgatlons -
<br />� 4-: 3 oc munkipal charges.fln�s and imPositbn�that are not included in Parawou d ativerse! affect lender's interast in the _
<br /> -- on ttme directfy to f►i`�eT�y��•'"'•�is aved ihe paYment.if faAure to Fa'r' y .. _
<br /> � PropeRy,upon Lende�'s request Borcower sha11 promptiy fumish to Lender�eceipts evidenciny�7►ese paYrsk�i..• -
<br />� '' If Borrower fails to make these payments or the payments requlred by Paragraph 2,or fais to perform any other
<br /> ' cove�ants and agreements contalned ln thu Security instrument,or there is a legal proceeding that may significaM►y
<br /> " affect Lende�'s riyyhts in the Properry(such as a proceeding in bankruptcy,for condemnation or to enforce laws or _
<br /> regWations),then Lender may do and pay whatever Is necessary to protect the value of the Property and Lenders
<br /> r'�yhts in the Properry,including payment of taxes,hazard insurance and other items mentioned in Paragraph 2.
<br /> � I My amourns disbursed by Le:xler underthis Paragraph shail become an additional debt of Borrower and be =
<br /> secured by this Securd}r Instrumerrt•These amounts shall bear interest from the date of disbursement,at the Note rate,
<br /> ' and at the option of Lender,shall be immediately due and payable.
<br /> � 7.Condemnatlon• The proceeds of anrt of the Pro'e m f orf or on veyance niplace af condemnato nare�hereby
<br /> any condemnation or other taking of any pa P nY�
<br /> asstgned and shall be paid to Lender to the extent of the�fh�a��s totthe reduct o of t e indebtednes�underthet�
<br /> ` Note and this Security Instrument.Lender shall apply p
<br /> Note and thts Securiry Instrument,first to��n of then{uoceeds to the p�rincipal shallr o�extendi o ppostrpone the d
<br /> then to prepayment of principal.MY aPP�
<br /> , s/ss
<br /> I •' pHA 1iEgAASKA DEED OF TRUST pAGE 2 OF 4
<br /> � ISC/FMDTNE//0691/l��)-�
<br /> e . --- _--_
<br />
|